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Things Should Start To Get Interesting Now
Wednesday August 16, 9:26 am ET
By Gary Kaltbaum
Before Tuesday's action, the market experienced four negative reversal days where the market gapped up on "good news" and failed. The fifth time was the charm. We would suggest that many became too comfortable with the "sell the big open" leading to Tuesday's rally. A poor job's report couldn't do it. The FED pausing couldn't do it. Cisco's (NASDAQ:CSCO - News) earnings couldn't do it. The cease fire couldn't do it. A supposed good number on inflation did the trick.
"The Nasdaq had its second follow through day since the market topped in early May. The last follow through day came very late...on day 12. Good follow through days usually occur on days 4-7 off the lows. Tuesday's follow-through occurred on Day 21 of its rally try. This is suspect...but we'll still give it a chance. In the past, some rallies have worked even with late follow-throughs. We are also less than thrilled that volume came in lower than average though volume came in better than the day before.
That leads us to our canned line: Every bull market has started with a follow-through. But not every follow-through has led to a bull market. And yes, June's follow-through day failed miserably. The bear market of 00-03 had many failures.
We would not go out and buy with abandon. If this is the start of something big, leadership will show up. Start gathering a list of stocks that bucked the trend of the past three months and look for high volume breakouts.
Other technical notes:
As you know, we are big believers that the NASDAQ-types lead both up and down. It was the NASDAQ breakdown that made us call a top for the market on May 11. It is nothing but a positive that for this second, the NASDAQ-types are starting to outperform. Both the NASDAQ and NDX did move above their respective declining 50-day moving averages for the first time since the top. Of course, you can say the same thing for the all-important SOX.
The lagging small and mid-cap indices have held their recent lows. This also is a good start...but will need to see better action out of them.
The Dow and S&P are again nudging up against resistance...in fact, some strong resistance. It should get interesting with any move up from here.
Gary Kaltbaum
Consumer Prices Up, Factory Output Slows
Wednesday August 16, 9:26 am ET
By Martin Crutsinger, AP Economics Writer
Consumer Prices Rise by 0.4 Percent, Factory Production Slows
WASHINGTON (AP) -- Consumer inflation accelerated in July, reflecting a big jump in gasoline and other energy prices. In evidence that the economy is slowing, industrial output in July slipped to just half the June pace.
The Labor Department reported Wednesday that its closely watched Consumer Price Index rose by 0.4 percent last month, double the 0.2 percent increase in June. While energy costs had fallen in June, they rose by 2.9 percent last month, the biggest increase in three months.
Meanwhile, the Federal Reserve reported that output at the nation's factories, mines and utilities increased by 0.4 percent last month, just half of the 0.8 percent gain in June.
Core inflation, which excludes food and energy, slowed in July, rising by just 0.2 percent after four straight months of 0.3 percent gains. This slowdown, which was helped by a 1.2 percent drop in clothing prices, was likely to encourage officials at the Federal Reserve, who are counting on a slowing economy to reduce inflation pressures.
The rise in industrial production was the slowest since no gain at all in May. Output at manufacturing industries edged up a tiny 0.1 percent, but this weakness was offset by stronger gains in other sectors of the economy.
Output at the nation's utilities shot up by 2 percent in July, reflecting higher production at electric utilities in response to warmer-than-normal temperatures. Output at the nation's mines, a category that also includes oil and gas production, rose 0.8 percent in July, reflecting increased demand for domestic energy supplies.
OLNK - OneLink Corporation Reports Interest in CCRA Portal Ahead of Schedule; Q2 Corporate Revenues Up 40%
Wednesday August 16, 9:53 am ET
Online Booking/Settlement Service for Travel Agents Nets 6,300 Users in First Four Months; First Marketing Effort to Begin in Q3
SAN FRANCISCO, Aug. 16 /PRNewswire-FirstCall/ -- OneLink Corporation (OTC Bulletin Board: OLNK - News) today announced that the interest level for its new CCRA booking/settlement portal by travel agents is exceeding projections and continues to grow at an accelerated pace. New agent registration is currently averaging over 1,500 agents per month, with registrations for the first 14 days of August running 63% ahead of the same period a month earlier.
OneLink Corporation also announced that its corporate revenue for Q2 of 2006 was $1.581 million, a 40% increase over Q1 revenues of $1.127 million. The company anticipates further growth through its various lines of business through the rest of the year.
"Our registration numbers are proving that the company's prepaid travel services concept is indeed resonating with travel agencies and agents," said Bill Guerin, chief executive officer of OneLink Corporation. "Despite only limited marketing support, the CCRAtravel.com portal to date has outpaced its plan. We believe prospects for the company are favorable through the fall and beyond, not only due to the increased marketing efforts for CCRAtravel.com that will occur, but also because of the continued strengthening of performance from our non-portal revenue streams."
Since its debut in mid-April, CCRAtravel.com has quickly grabbed attention within the retail travel sector. Nearly 6,300 agents are registered to use the portal to book hotel rooms for their customers at some 80,000 properties worldwide. So far, OneLink's promotion of the reservations Web site has been limited largely to appearances at industry conferences. Beginning in Q3, the company will begin to market CCRAtravel.com in cooperation with its various travel industry partners; among the well-known associations and organizations currently adopting and endorsing CCRAtravel.com are ASTA, Vacation.com, OSSN and Cruise Shoppes.
OneLink's groundbreaking service builds on the powerful worldwide network of available hotel properties assembled by the company's CCRA International subsidiary. The service gives agents the ability to compare net, GDS, CCRA preferred and Hotels.com rates onscreen, enabling them to quote rates that maximize their operating margins. In addition, CCRAtravel.com offers users a first-ever ability to realize upfront payment and commission settlement for non-airline travel services.
For more information about the CCRA portal, visit http://www.ccratravel.com .
About OneLink Corporation:
OneLink Corporation (OTC Bulletin Board: OLNK - News) is a provider of integrated booking and settlement processing services for travel suppliers and their distributors. The firm is the first of its kind to offer non-airline travel suppliers the ability to distribute a pre-paid product through travel agents worldwide, and to effect financial settlement through a single, online global distribution and financial settlement system. OneLink's mission is to increase the number and quality of online bookings made through global retail travel channels while improving cash flow and reducing distribution costs, ultimately resulting in lower prices for the consumer. Headquartered in San Francisco, OneLink is operated by an experienced team of travel distribution professionals, financial settlement experts and established global technology specialists. For more information, visit http://www.onelinkcorp.com .
This press release is not a solicitation to buy or sell securities. This press release includes "forward looking statements" as defined by the Securities and Exchange Commission (the "SEC"). All statements, other than statements of historical fact, included in the press release that address activities, events or developments that the Company believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors the Company believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Investors are cautioned that any such statements are not guarantees of future performance. Actual results or developments may differ materially from those projected in the forward-looking statements as a result of many factors, including delays in development and implementation of the Company's system, market acceptance of the new system and problems in obtaining additional financing. Furthermore, the Company does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this release should be considered in conjunction with the warnings and cautionary statements contained in the Company's recent filings with the SEC.
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Source: OneLink Corporation
G'morning... Please keep in mind that this is a stock specific board and is limited to discussions relating to SLJB only. Any other ticker mentioned that has no relevance to SLJB will be deleted.
No O/T (off topic)
If you need to chat take it to the Parking Lot or one of the many boards for that purpose.
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Please refrain from posting messages from RB. If a post from RB has been posted and not yet deleted, don't respond to it.
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Open discussions both positive and negative are welcome providing the information posted isn't slanderous and can be backed up or is followed by an "imo".
If you find spam on the board and don't see it deleted, please feel free to "PM" one of the moderators since we can't possibly catch every post. This includes invites to chat on other sites
SWAT - A4S Security Voted to Receive $1.297M Project Award for ShiftWatch From Greater Cleveland Regional Transit Authority
Wednesday August 16, 7:30 am ET
LOVELAND, Colo., Aug. 16 /PRNewswire-FirstCall/ -- A4S Security, Inc. (Nasdaq: SWAT, SWATW and NYSE Arca: SWAT, SWATW), a leading provider of digital video surveillance solutions, today announced that the Board of Trustees for the Greater Cleveland Regional Transit Authority (GCRTA) has voted to award A4S a contract for installation of its ShiftWatch® mobile video surveillance and facilities surveillance solution in 40 light rail vehicles and 18 platform stations. This award, not to exceed $1.297 million, will include the purchase of A4S Security's next generation TVS platform targeted for release in early Fall 2006.
The formal award notification will come from GCRTA procurement. The project is subject to final negotiation and execution of the contract.
A4S Security's new TVS platform is expected to be completed by the fourth quarter of this year.
About A4S Security, Inc.
A4S Security, Inc. develops and markets the ShiftWatch® product line of mobile digital video surveillance solutions for public transportation, law enforcement and general security applications. The company's full motion, high resolution video system utilizes patent pending video streaming technology and GPS synchronization capabilities to provide agencies with data security and reliability. The company's open, standards based architecture facilitates interoperability, easing management of the information and communication complexities and leveraging customers' investment in the future.
For additional information about A4S Security and ShiftWatch® solutions, call 1-888-825-0247 or visit www.shiftwatch.com. Information on the web site does not comprise a part of this press release.
This press release includes "forward-looking statements" as defined by the Securities and Exchange Commission (the "SEC"). All statements, other than statements of historical fact, included in the press release that address activities, events or developments that the company believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors the company believes are appropriate under the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company and may not materialize. Investors are cautioned that any such statements are not guarantees of future performance. Actual results or developments may differ materially from those projected in the forward-looking statements as a result of many factors, including the company's ability to release its next generation TVS platform as planned, negotiate and execute a definitive agreement with GCRTA and enhance, execute and protect its technological capabilities, among others. Furthermore, the company does not intend (and is not obligated) to update publicly any forward-looking statements, except as required by law. The contents of this release should be considered in conjunction with the warnings and cautionary statements contained in the company's recent filings with the SEC.
CONTACT:
Investor Relations Media
Todd Kehrli or Jim Byers Pat O'Connor
MKR Group, LLC A4S Security, Inc.
(818) 556-3700 (970) 461-0071 ext. 134
ir@mkr-group.com poconnor@shiftwatch.com
--------------------------------------------------------------------------------
Source: A4S Security, Inc.
Rise Expected in Consumer Price Index
Wednesday August 16, 7:43 am ET
Economists Predict 0.4 Percent Rise in Consumer Prices in July; Numbers Are Due This Morning
WASHINGTON (AP) -- Economists are predicting a 0.4 percent rise in consumer prices in July when the numbers are released this morning by the Labor Department.
Yesterday, it was announced that prices at the wholesale level edged up by the smallest amount in five months in July as falling food prices helped offset another rise in energy costs.
The Labor Department reported that wholesale prices increased a slight 0.1 percent in July, far below the 0.5 percent jump in June. The improvement reflected a retreat in food prices, which fell by 0.3 percent in July, after having surged by 1.4 percent in June, which had been the biggest increase in nearly two years.
Consumer inflation slowed in June, helped by a temporary drop in energy prices. The CPI rose by just 0.2 percent in June, the smallest increase in four months and just half of the 0.4 percent May rise.
Also due today are reports on housing starts and industrial production for July.
Federal Reserve policy-makers broke a two-year string of interest rate increases last week, saying they believed that a slowing economy would help restrain inflation pressures. But some private economists are worried that the relentless rise in energy costs could force the Fed to resume rate increases in coming months.
The 0.1 percent rise in the government's Producer Price Index represented the smallest amount of inflation since wholesale prices actually fell by 1.2 percent in February.
Excluding volatile food and energy, core wholesale inflation fell by 0.3 percent in July. That was the best showing for core inflation in nine months, since a similar 0.3 percent decline last October.
Price pressures have been accelerating this year as energy costs have soared, reflecting rising tensions in the Middle East and tight supplies because of increased demand from emerging economies such as China.
Crude oil hit a record high, closing at $77.03 in New York trading on July 14. The increases in crude prices have pushed gasoline costs above $3 per gallon in many parts of the country, increases that have spurred rising voter unhappiness with the economic policies of the Bush administration.
For July, energy prices were up 1.3 percent, the biggest increase since a 4 percent jump in April. Gasoline prices were up 0.7 percent, natural gas for home use was up 0.9 percent and residential electricity costs jumped 1.8 percent, the biggest increase since January.
Those higher energy costs were expected to show up quickly in higher consumer energy bills. Analysts were forecasting that the Consumer Price Index would register a 0.4 percent increase for July when that figure is released on Wednesday.
Analysts are worried that rising inflation pressures may force the Fed off hold and result in further interest rate increases in coming months.
The 0.3 percent drop in food costs reflected a retreat in a variety of food costs which had surged in June. Egg prices fell by 26.1 percent, the biggest one-month drop in six years while fish prices were down 9.1 percent and soft drink prices dropped by 1.4 percent.
Outside of food and energy, prices were mostly lower with some notable exceptions. Tire prices jumped 3.5 percent, the biggest one-month gain in 27 years.
Offsetting that increase, the price of newspapers dropped by 1.2 percent, the biggest decline in 13 years, while the cost of light trucks was down 3.1 percent and the price of passenger cars fell by 0.8 percent.
PTNR - Hutchison Returns to Profit in 1st Half
Wednesday August 16, 7:20 am ET
Hong Kong Telecom Hutchison Returns to Profit on Better Business in India, Israel
HONG KONG (AP) -- Hong Kong-based telecom service provider Hutchison Telecommunications International Ltd. said Wednesday it returned to profit in the first half of this year, boosted by an improvement in its businesses in India and Israel.
Net profit for the six months ended June was HK$2 million (US$257,100; euro202,043), a turnaround from a net loss of HK$370 million (US$47.6 million; euro37.41 million) in the first half last year.
Hutchison Telecom, a unit of Hong Kong tycoon Li Ka-shing's Hutchison Whampoa Ltd., said its first half revenue rose to HK$15.67 billion (US$2.01 billion; euro1.58 billion), from HK$10.59 billion.
The company attributed the improvement in its profitability in the first half to strong performance in the Indian and Israeli markets.
The company's Indian operation, Hutchison Essar, was the largest revenue contributor. It reported a first-half revenue rise of 51 percent to HK$7.09 billion, while its subscribers doubled to 17.5 million.
In Israel, Hutchison's Partner Communications Co. had a 5 percent rise before taxes to HK$1.51 billion, on a "healthy increase" in its customer base and average minutes of use.
"Customer growth in the first half was in line with our expectations and, provided there is no slowing of the momentum in India, we expect that to continue in the second half," Hutchison Telecom said in a statement.
The company's business in the second half will depend largely on the timing of operation launches in Indonesia and Vietnam, both of which are scheduled for the second half of 2006, the company said.
The company has second-generation mobile-phone operations in Hong Kong, India, Thailand, Israel, Macau, Sri Lanka and Ghana, and 3G operations in Israel and Hong Kong.
It also has a fixed-line business in Hong Kong, and plans mobile services in Indonesia and Vietnam.
Most of the New York- and Hong Kong-listed company's revenue is generated from its second-generation mobile-service operations in India, Israel, and Hong Kong.
CGT - CAE to Build Simulator for U.S. Navy
Wednesday August 16, 7:22 am ET
CAE to Build E-6B Simulator for U.S. Navy in Contract Valued at More Than $22 Million
NEW YORK (AP) -- Canadian simulator maker CAE Inc. said Wednesday it received a contract valued at more than $22 million to design and make a training simulator for the U.S. Navy's E-6B aircraft.
The Montreal-based company will deliver the simulator to a training facility near Tinker Air Force Base, Oklahoma in the summer of 2008.
The contract also includes an option for CAE to upgrade the visual systems on two existing E-6B simulators operated by Link Simulation and Training as the prime contractor on the E-6B Aircrew Training System program.
"The E-6B simulator will enable the Navy to transition all flight hours from the leased Boeing 737-600 in-flight trainer aircraft to the simulator, in addition to reducing some sorties flown on the E-6 platform to support training," said John Lenyo, president and general manager, CAE USA. "This will help to save costs, reduce flight crew risk and lessen the wear and tear on the E-6 airframe."
The E-6B simulator will be used to train Navy pilots, copilots and flight engineers for a range of normal and emergency aircraft procedures. The simulator will feature the CAE Medallion-6000 visual system, which will support the ability to train aircrews in day/night operations as well as mission-specific scenarios such as aerial refueling.
The E-6B serves as an airborne command post capable of providing decision-level conferencing, force management, situation monitoring, and communications support.
PPHM - Peregrine's Final HCV Phase 1a Study Results Accepted for Oral Presentation at AASLD Annual Meeting
Wednesday August 16, 7:00 am ET
- Study Results for First-in-Class Agent Bavituximab Will Be Presented at The Liver Meeting(R), the Leading Scientific Meeting on Liver Disease -
TUSTIN, Calif., Aug. 16 /PRNewswire-FirstCall/ -- Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM - News), a biopharmaceutical company with a portfolio of innovative, clinical stage products for the treatment of hepatitis C virus (HCV) infection and cancer, today announced that data from its Phase la study of bavituximab in patients with chronic hepatitis C viral (HCV) infection have been accepted for oral presentation at The Liver Meeting® 2006, the premier event in the science and practice of hepatology hosted by the American Association for the Study of Liver Diseases (AASLD).
"We believe that bavituximab represents a potentially valuable new approach for the treatment of chronic HCV infection. Given the novel nature of this approach, we are very pleased that AASLD has selected our clinical data for an oral presentation," said Steven W. King, president and CEO of Peregrine. "The next phase of the HCV clinical program is already underway with patient enrollment in the Phase 1b repeat dose study proceeding well and on track for completion by year-end. The presentation at The Liver Meeting gives us an excellent opportunity to raise awareness of the potential promise of the bavituximab HCV program as we continue clinical development."
Over 5,000 hepatologists and hepatology health professionals from around the world will meet at the 57th Annual Meeting & Postgraduate Course of AASLD -- The Liver Meeting at the John B. Hynes Convention Center in Boston, Massachusetts from October 27-31, 2006. The bavituximab presentation is scheduled for October 30, 2006 at 3:00 pm EST.
About Bavituximab
Bavituximab is the first investigational agent in a new class of anti-phosphatidylserine (anti-PS) immunotherapeutics that targets and binds to cellular components not normally present on the outside of cells, but which become exposed on certain virally infected cells and on the surface of enveloped viruses. Bavituximab helps stimulate the body's immune defenses to destroy both the virus particles and the infected cells. Bavituximab is currently in clinical trials for the treatment of chronic hepatitis C virus infection. Preliminary results from an ascending single dose Phase la trial in HCV patients reported earlier this year indicated that bavituximab was well tolerated, and it showed promising signs of anti-viral activity. A repeat dose Phase 1b HCV trial is ongoing and is expected to be completed by year-end. Similar to their proposed anti-viral mechanism, anti-PS immunotherapeutics also bind to phospholipids exposed on tumor blood vessels in all solid cancers tested to date. Bavituximab is currently in Phase 1 clinical trials for the treatment of advanced refractory solid tumor cancers.
About Peregrine Pharmaceuticals
Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with a portfolio of innovative product candidates in clinical trials for the treatment of cancer and hepatitis C virus (HCV) infection. The company is pursuing three separate clinical trials in cancer and HCV infection with its lead product candidate bavituximab (formerly Tarvacin) and Cotara®. Peregrine also has in-house manufacturing capabilities through its wholly owned subsidiary Avid Bioservices, Inc. (www.avidbio.com), which provides development and bio-manufacturing services for both Peregrine and outside customers. Additional information about Peregrine can be found at www.peregrineinc.com.
Safe Harbor Statement: Statements in this press release which are not purely historical, including statements regarding Peregrine Pharmaceuticals' intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties including, but not limited to, the risk that bavituximab's safety profile in a repeat dose trial or in a combination therapy trial will not be at the same safety level as was found in the Phase 1a trial, the risk that the results of future trials will not correlate to the results from the Phase 1a trial, and the risk that bavituximab will not be as well tolerated at ascending doses. It is important to note that the company's actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties associated with completing preclinical and clinical trials for our technologies; the early stage of product development; the significant costs to develop our products as all of our products are currently in development, preclinical studies or clinical trials; obtaining additional financing to support our operations and the development of our products; obtaining regulatory approval for our technologies; anticipated timing of regulatory filings and the potential success in gaining regulatory approval and complying with governmental regulations applicable to our business. Our business could be affected by a number of other factors, including the risk factors listed from time to time in the Company's SEC reports including, but not limited to, the annual report on Form 10-K for the year ended April 30, 2006. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Peregrine Pharmaceuticals, Inc. disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release.
Contacts:
GendeLLindheim BioCom Partners
Investors Media
Barbara Lindheim Stephen Gendel
ir@peregrineinc.com (212) 918-4650
(212) 918-4949
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Source: Peregrine Pharmaceuticals, Inc.
SGGL - Sage Global Forms Strategic Marketing Agreement With Investors Title Company - Could Add Up to $500,000 in New Annual Revenues
Tuesday August 15, 4:01 pm ET
IRVINE, Calif., Aug. 15, 2006 (PRIMEZONE) -- Sage Global Solutions, Inc. (Other OTC:SGGL.PK - News) announced today that its Express Notary subsidiary has formed a strategic marketing relationship with the Orange County division of Investors Title Company. Under the agreement, Express Notary will provide notary and real-estate closing documentation services for new lenders signed by Investors Title.
Ultimately, Express Notary expects to handle documentation for up to 300 real estate closings per month, which could generate up to $500,000 in new revenue annually for Sage. In its initial stage, Express Notary expects to process at least 100 real estate closings per month generating minimally $15,000 to $25,000 per month in new revenue. The same services will also be marketed system-wide to Investors Title lenders who administer 600 to 700 monthly closings in Orange County alone.
``We are very pleased to be working with this outstanding company. This is the second in what we expect to be a string of new agreements leading to exceptional growth as we have nearly doubled our annual revenue in the past few months,' said Henry Davidson, CEO of Sage Global Solutions, Inc. ``The efforts of our team are yielding great results and this is just the beginning. Now that we have relationships within some of the area's strongest and most prestigious real estate title groups, we fully expect to be able to continue our growth through internal marketing campaigns.'
Based in Chapel Hill, North Carolina, Investors Title Company is a title insurance underwriter that writes policies to protect mortgage lenders and homeowners from unforeseen claims made against title to real property. Established in 1972, Investors Title specializes in residential and commercial title insurance, 1031 exchanges, reverse exchanges, title agency management services and Trust and Capital Management Services.
Express Notary is an online mobile notary service that specializes in loan document closings and has an extensive network of notary agents throughout the U.S. The main focus of the company is real estate documents and legal documents common to the business community. Express Notary's mission is to be the most efficient and dependable loan signing service in the nation.
The mission of Sage Global is to present a full spectrum of online financial and insurance services and products for small businesses and the individual retail customer. This acquisition is a significant step toward the Company's goal of becoming a complete financial services institution positioning itself as a market leader in a rapidly-growing industry.
Safe Harbor Statement
Statements in this press release about the company's future expectations other than historical facts are ``forward-looking statements.' It is important to note that actual results could differ materially from those in such ``forward-looking statements' and ``forward-looking statements' are inherently subject to risks and uncertainties. The name Express Notary is a copyright of Express Notary Service, Inc.
Contact:
Sage Global Solutions, Inc.
Henry Davidson
(949) 268-5995
www.sage-global.com
INVESTOR RELATIONS:
Integrated Capital Partners, Inc.
(908) 204-0004
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Source: Sage Global Soutions
WNSH - Des Moines Surgical Clinic Awards Consultancy Contract to MedSpa Solutions
Tuesday August 15, 4:05 pm ET
LAS VEGAS, NV--(MARKET WIRE)--Aug 15, 2006 -- MedSpa Solutions Inc., a wholly owned subsidiary of Winsted Holdings Inc. (OTC BB:WNSH.OB - News), today announced that it was awarded a comprehensive consultancy contract by a group of surgeons operating a surgical clinic in Des Moines, Iowa. This Contract covers Business Development, Core Site Design, Vendor Relationships, Licensing & Compliance Assistance and Custom Marketing Development.
"This is a large 5000 square feet surgical clinic facility," stated Winsted CEO Mark Ellis. "3000 square feet will be allocated for cosmetic surgical procedures. Our job is to work with the surgeons on the 2000 square feet designated for medspa usage. This area will provide the ambiance of a medical spa for patients who desires to have non-surgical procedures performed in a spa like setting."
"We are steadily growing in the area of assisting doctors in the expansion of their medical practice through medspa addition or augmentation. This Des Moines award was especially rewarding due to the large scale of operating facility and great number of medical staff we will be working with. Our medspa expertise has withstood the test of time and has proven successful for our clients," concluded Ellis.
Des Moines (French for "City of the Monks") is the capital and largest city of Iowa. It was incorporated on September 22, 1851, as Fort Des Moines, until it was shortened to "Des Moines" in 1857. The City is one of the fastest growing metro areas in the country with about 500,000 residents. Long known as the "Hartford of the West," Des Moines is the world's 3rd largest insurance center behind London and Hartford, Connecticut. Principal Financial Group and Equitable of Iowa are among the 60 plus insurance companies that have their headquarters here. Affordable housing, one of the nation's shortest commute times, and an increasingly diverse population, makes Des Moines a wonderful place to live, work and visit.
Ellis further stated, "Forbes Magazine ranked Des Moines as the 11th 'Best Center for Business' (http://www.forbes.com/lists/2006/1/2856.html). Large companies such as Wells Fargo, IGN, and John Deere have taken notice in Des Moines and established centers there. As a major crossroads, U.S. Interstate 35 and 80 passes through the city, the new surgical-medspa facility is well poised for exponential growth serving Des Moines and nearby communities of West Des Moines, Urbandale and Ankeny."
About MedSpa Solutions Inc.
MedSpa Solutions Inc. of Irvine, California is a wholly owned subsidiary of Winsted Holdings Inc. (OTC BB:WNSH.OB - News). Medical Spas are fast becoming the facility of choice among women and men seeking rejuvenating skin care procedures. At MedSpa Solutions Inc., not only are our customers treated with the best that technology has to offer, they also get expert consultations from our skilled medical staff. Our trend-setting spa-like facilities, combined with our friendly staff, are all you need for the best skin care experience ever. Our facilities offer FDA-approved procedures like Botox, Laser Hair Removal, IPL-Skin Rejuvenation, Microdermabrasion, Chemical Peels, Collagen, and Leg Vein Treatment. We work only with the most advanced laser equipment to achieve your desired results. Our medical staff is one of our most valued assets, and they are trained in a culture of warmth, friendliness, and customer service. Everything at the spa is designed with your comfort and convenience in mind, even our business hours which are flexible to adjust to your needs. Making you look good and feel good is what we are here for!
MedSpa Solutions is committed to continually setting the highest levels of excellence and innovation for our clients. We are pioneers in the MedSpa industry and strive to bring the most advanced treatments and standards to each one of our spas and clients. For more information on the Consulting Services from MedSpa Solutions, please contact us at 1-888-968-4624 or email at info@medspasolutions.com. Additional information can also be found at http://www.medspasolutions.com/.
About Winsted Holdings, Inc.
Winsted Holdings Inc. (OTC BB:WNSH.OB - News) is a Business Development Company (BDC) located in Newport Beach, California. BDCs are publicly traded, closed-end investment companies regulated by the Investment Company Act of 1940. The Company was founded on the premise that combining both operational talent and financial talent within a single private equity investment firm can significantly enhance the magnitude and consistency of investment returns. Winsted Holdings' team consists of accomplished financial professionals with experience at prestigious financial institutions, seasoned corporate executives from various industry enterprises and successful entrepreneurs with expertise developed in aspects from business development to capital markets and from sales and marketing to technology development. The Company currently has two wholly owned subsidiaries, Spencer Communications Inc. and MedSpa Solutions Inc. Over the coming months, the Company will outline its ever changing portfolio holdings and its plans for the long-term medspa expansion.
Statements made in this press release regarding the Company's or management's intention, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to compete effectively in a rapidly evolving and price competitive marketplace; possible reductions in demand for our products and services due to competition or changes in industry conditions; changes in the nature of medspa and telecommunications regulations in the United States and other countries; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; and other risks referenced from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
For additional information call:
Investor Relations
214-459-8245
or visit company website:
http://www.medspasolutions.com/
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Source: Winsted Holdings, Inc.
SGLS - Signature Leisure, Inc. Announces More Revenge!
Tuesday August 15, 4:05 pm ET
MAITLAND, FL--(MARKET WIRE)--Aug 15, 2006 -- Signature Leisure, Inc. (OTC BB:SGLS.OB - News) recently announced that the company acquired a twenty-five percent ownership stake in Revenge Designs LLC. Signature Leisure is announcing today additional updates on the progress of Revenge Designs LLC.
Revenge Designs LLC, based in Decatur, Indiana, is headed by Australian native Peter Collorafi. "Revenge is partnering with Lingenfelter Performance Engineering to modify the 2006-07 Pontiac GTO for a more 'aggressive' look and performance," as reported by the Fort Wayne Journal Gazette.
Stephen Carnes, CEO of Signature Leisure, Inc., stated, "At the present moment most Pontiac dealers across the nation are not even aware of the existence of the Revenge GTO. Dealers are about 4 weeks away from the 'unveiling' of the Revenge GTO's availability, which is when the 'soon to be a classic' model will begin to be introduced to dealers nationwide starting on the East Coast."
Additionally, Carnes stated, "In a phone conversation that I had on Monday (8/14/2006) with Peter, he informed me that the first group of vehicles are anticipated to start into production at Lingenfelter's the second week of September for engine and drive train performance enhancements. As the first batch completes drive train enhancements the vehicles will move over to Revenge Design's production facility starting the week of September 18th to complete the body enhancement modifications."
Carnes further stated, "I believe that the Revenge GTO will be a tremendous success and extremely popular with car enthusiasts of all ages, especially with the 'Baby Boomer' population. The Revenge GTO will include everything from a wider body to fog lamps with flowing fender extensions to a lower profile. Buyers can also select the Lingenfelter performance package which will add a magnacharger/supercharger delivering 530 horsepower and other extras."
To view the full article in the Fort Wayne Journal Gazette, please visit the following link: http://www.fortwayne.com/mld/fortwayne/business/15037965.htm
About Signature Leisure, Inc. (OTC BB:SGLS.OB - News) -- Signature Leisure, Inc. is a publicly traded company trading on the OTC Bulletin Board under the symbol SGLS. For more information about Signature Leisure, Inc., please visit the Company's website at http://www.signatureleisure.com
This press release contains certain "forward-looking" statements as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete an acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.
This press release is provided for information purposes only and is not intended to constitute an offer to sell or a solicitation of an offer to buy securities.
Contact:
Contact:
Signature Leisure, Inc.
Stephen W. Carnes
407-599-2886
info@signatureleisure.com
--------------------------------------------------------------------------------
Source: Signature Leisure, Inc.
HBSC - Human BioSystems Signs Project Agreement to Assist the Company in Evaluating Potential Partners of Its Preservation Technologies
Tuesday August 15, 4:05 pm ET
PALO ALTO, CALIFORNIA--(MARKET WIRE)--Aug 15, 2006 -- Human BioSystems (OTC BB:HBSC.OB - News) ("HBS" or "Company") announced today that it has signed an agreement with UTEK Corporation ("UTEK") to assist HBS in identifying and making introductions to potential business partners of the Company's preservation technology, including its above zero and below zero preservation technology for organs and other biomaterials, as well as its blood platelet preservation process.
According to Harry Masuda, CEO of Human BioSystems, "UTEK has contacts that are relevant to HBS technology and we are excited to establish this business relationship to utilize their expertise towards optimizing our process of selecting the right partner for each of our technologies. Partnering has been in our business plan from the beginning and it has been our goal to establish strategic partners who have the distribution channels required to sell our products worldwide."
HBS plans to market its preservation technologies worldwide, including a number of markets in the United States. The diversity of markets available to HBS makes the UTEK Project Agreement an essential step forward toward achieving the Company's goal of leveraging its efforts to bring products to market as quickly as possible. As UTEK helps to identify the appropriate partners for the HBS technologies, the Company can move forward in creating new markets for its preservation technologies.
"When we license a technology, we can segment and limit the license to a particular application, an example being the preservation of donor organs while excluding the application for islet cells. We may also elect to sell components of our technology such as packaged solutions to companies as a "general preservation solution" for research, which may result in commercial sales of our preservation solutions. In other words, licensing will not preclude us from entering non-licensed markets or activities," continued Mr. Masuda.
Human BioSystems is a developer of preservation platforms for organs and other biomaterials. The Company, which is headquartered in Palo Alto, California with research facilities in Michigan, has been granted four patents by the U.S. Patent Office. HBS also announced recently the signing of a letter of intent to enter the BioFuels business through the acquisition of two ethanol production facility projects from EXL III.
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, results from ongoing research and development as well as clinical studies, failure to obtain regulatory approval for the Company's products, if required, failure to develop a product based on the Company's technology, failure of any such products to compete effectively with existing products, the inability to find a strategic partner or to consummate a relationship with a potential strategic partner on acceptable terms, and other factors discussed in filings made by the Company with the Securities and Exchange Commission.
Contact:
Contacts:
Human BioSystems
Harry Masuda
CEO
(650) 323-0943
hmasuda@humanbiosystems.com
Yes International
Rich Kaiser
Investor Relations
(800) 631-8127
rich@yesinternational.com
Concept Communications, LLC
James D. Caldwell
Investor Relations
(727) 447-0514
jc@conceptcg.com
--------------------------------------------------------------------------------
Source: Human BioSystems
WSTN - First U.S. Emergency Alerts on Cell Phones By CellCast Communications and Einstein Wireless Prove Viable in Disasters or Terrorist Acts
Tuesday August 15, 4:07 pm ET
HOUSTON, Aug. 15 /PRNewswire/ -- Warnings of natural disasters, terrorist attacks, chemical explosions, wildfires or other life-threatening events can now be delivered over cell phones by federal, state and local entities. Houston-based CellCast Communications and Einstein Wireless, of Appleton, Wis., recently tested a cell broadcast system, in cooperation with a Federal Emergency Management Agency (FEMA) pilot program covering a group of states to demonstrate cell broadcast as a viable component of a national emergency alert system.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060815/DATU036LOGO )
"It's about time to update the emergency alert process," said Paul Klein, Chief Operating Officer of CellCast Communications, which is supplying the technology to demonstrate that cell broadcast is feasible. "While public servants responsible for maintaining the process have done a good job with the tools they have, the system has remained fundamentally unchanged since the 1950s and needs to be enhanced with 21st century communications technology."
"Cell broadcasting is the quickest method to alert people of an approaching disaster and to direct toward safety," said Greg Selig, senior director of operations and engineering at Einstein Wireless. "We are proud to be the first wireless carrier to successfully conduct emergency broadcast trials and will continue to work toward delivering this critical service to the people of Wisconsin."
Cell broadcast uses a feature already built into most cell phones that enables a government entity to simultaneously send an emergency message to large numbers of cell phones, and only to those in the specific geographically threatened area. The alert message is transmitted over a portion of bandwidth that is minimally used in normal cell calling, therefore not subject to degradation of normal cell phone use during a public emergency situation.
In addition to FEMA, emergency management representatives from New York City Mayor Michael Bloomberg's office observed the cell broadcast demonstration.
"We commend FEMA for evaluating cell broadcast technology, which is already used in several countries, as part of America's next generation emergency alert system," said Tim Ayers, spokesman for Cellular Emergency Alert Systems Association, an international citizens group advocating use of mobile devices for public warnings. "The technology exists and simply awaits activation. It's time for federal, state and local entities to turn on the switch."
While cell broadcast technology is beginning to be tested in the United States, it is a proven commodity in other countries. In May 2005, South Korea became the first country to turn on a nationwide cell-based emergency system; and in September, the European Union will launch its commitment to cell broadcasting with an evacuation demonstration in Amsterdam.
CellCast Communications cell broadcast technology will be hosted and maintained by Westlin Corporation's (OTC Pink Sheets: WSTN - News) secure on-line and near-line data storage facility. Located outside Houston, the facility is a former underground nuclear shelter, providing one of the most secure environments protected from natural disasters and terrorist acts.
For more information on cell broadcast, visit http://www.cellcastcorp.com or http://www.ceasa-int.com .
--------------------------------------------------------------------------------
Source: CellCast Communications
HIFN - Network Security Firms, Ansai and Hifn, Join Forces in China
Tuesday August 15, 4:15 pm ET
Strategic Partnership Enables Collaboration on Technology, Products and Marketing
BEIJING, China and LOS GATOS, Calif., Aug. 15 /PRNewswire-FirstCall/ -- Ansai, an emerging Chinese network security company, and Hifn (Nasdaq: HIFN - News), the network- and storage-security market leader, entered into a strategic partnership today. The strategic partnership enables the companies to collaborate on technology, products and marketing.
Ansai will have access to Hifn's proven security and storage technologies, including the industry-standard LZS compression technology. The partnership also provides Ansai with exclusive rights to represent Hifn and its products in China as well as to leverage Hifn's established marketing and distribution channels to promote Ansai's products globally.
For Hifn, the partnership offers access to Ansai's state-of-the-art design and verification capabilities as well as providing local technical support for Hifn's China-based customers. Through the partnership, Ansai can also utilize their sales and marketing channels to promote Hifn's products in the Chinese market.
"The strategic partnership between Ansai and Hifn will further strengthen the competitive edge of both firms. On one hand, this enables Hifn to tap into the Chinese market more efficiently. On the other hand, we can integrate Hifn's industry leading technologies into our development efforts and provide technology-intensive, high-value network- and storage-security products," said Mr. Jiebing Wang, CEO of Ansai.
"This is a complementary partnership for both companies," said Chris Kenber, CEO of Hifn. "The cooperation with Ansai will greatly accelerate our expansion in China and enables us to more quickly explore this huge potential market. Additionally, Hifn will take advantage of Ansai's expertise by marketing Ansai's technologies and products in markets outside of China."
About Ansai
Hangzhou Ansai Information Technologies Co., Ltd. (Ansai) specializes in developing, marketing and sales of high-performance information security processors, lossless compression/decompression ASICs and relevant subsystems. Leveraging cutting-edge EDA design capabilities, Ansai has successfully built its ASICs and subsystems with its own intellectual property. The company is headquartered in Hangzhou and has branch offices throughout China, including Beijing. For more information on Ansai's solutions, please visit: www.ansaitech.com .
About Hifn
Hifn combines security, compression, content search, and flow classification technology into solutions for networking, security and storage suppliers. Hifn's solutions are deployed in virtually all market-leading networking and security products. Founded in 1996, Hifn is headquartered in Los Gatos, California. For more information on Hifn solutions, please visit: http://www.hifn.com .
"Safe Harbor" Statement under the U.S. Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Specifically, statements regarding the Company's future financial performance including, without limitation, statements related to the complementary cooperation with Ansai greatly accelerating Hifn's expansion into the Chinese market are all forward-looking statements within the meaning of the Safe Harbor that may cause actual results to differ materially from the forward-looking statements contained herein. Factors that could cause actual results to differ materially from those described herein include, but are not limited to: dependency on a small number of customers; customer demand and customer ordering patterns; and orders from Hifn's customers may be below the company's current expectations. These and other risks are detailed from time to time in Hifn's filings with the Securities and Exchange Commission. Hifn expressly disclaims any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
NOTE: Hi/fn® is a registered trademark of hi/fn, inc. Hifn is a trademark of hi/fn, inc.
--------------------------------------------------------------------------------
Source: Hifn, Inc.
Stock futures edge lower
Wednesday August 16, 7:05 am ET
By Vivianne Rodrigues
NEW YORK (Reuters) - U.S. stock futures edged lower on Wednesday as investors tread cautiously ahead of key consumer price data that may support the view the Federal Reserve has room to keep interest rates unchanged in the short term.
Earnings may also influence the market with computer maker Hewlett-Packard Co. (NYSE:HPQ - News), a Dow component, among those posting quarterly figures.
Wednesday's Consumer Price Index release at 8:30 a.m. (1230 GMT) follows a weaker reading on producer prices on Tuesday that sparked a rally in stocks.
The Producer Price Index figures on Tuesday raised hopes the Fed will keep the benchmark interest rates unchanged at 5.25 percent after 17 straight rises aimed at controlling inflation.
Analysts expect consumer prices to have risen at a faster pace in July than in June as a result of high energy prices and rising pressure on rents due to a cooling housing market.
"We will have to get passed the CPI report to see some real action with stock futures this morning," said Art Hogan, chief market analyst at Jefferies & Co. in Boston. "But still, we will need a very friendly reading on the numbers to justify yesterday's rally and spark more gains today."
Standard & Poor's 500 futures (SPc1) were down 0.20 point, slightly below fair value, a mathematical formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract.
Dow Jones industrial average futures (DJc1) fell 4 points, and Nasdaq 100 (NDc1) futures were down 1.25 point.
The median forecast increase of the CPI among analysts polled by Reuters was 0.4 percent in July, up from June's 0.2 percent gain. This would bring the year-over-year rise of the headline CPI to 4.2 percent, down a touch from June's 4.3 percent.
The CPI core rate, which factors out volatile food and energy prices, likely climbed by 0.3 percent in July, matching June's increase, the poll said.
Closeout retailer Big Lots Inc. (NYSE:BLI - News) on Wednesday posted a second-quarter profit with earnings from continuing operations of 4 cents a share compared with a loss of from continuing operations of 11 cents a share in the prior-year quarter.
Shares of Abercrombie & Fitch Co. (NYSE:ANF - News) may extend gains on Tuesday after jumping 8.4 percent to $60.20 late Monday. The retailer posted a stronger-than-expected quarterly profit.
The Dow Jones industrial average (^DJI - News) ended Tuesday 132.39 points higher, or 1.19 percent, to close at 11,230.26. The Standard & Poor's 500 Index (^SPX - News) rose 17.37 points, or 1.37 percent, to settle at 1,285.58, while the Nasdaq Composite Index (NASDAQ:^IXIC - News) soared 45.97 points, or 2.22 percent, to close at 2,115.01.
CNLA - Community National Bank of the Lakeway Area Announces Quarterly Profits; Completes Rights and Public Offering of Common Stock; Commencement of Trading on NASDAQ
Tuesday August 15, 4:30 pm ET
MORRISTOWN, Tenn., Aug. 15 /PRNewswire-FirstCall/ -- Community National Bank of the Lakeway Area (Nasdaq: CNLA - News) today reported results for the second quarter and first six months of 2006. Net income for the second quarter was $10 thousand, or $0.01 per basic and diluted share, compared with a loss of $72 thousand, or $0.07 per share for the prior year period. Highlights of the first half of 2006 include:
- Community National Bank reported its first quarterly profit, and has
completed five consecutive months of profitability. Based on current
trends, management expects profitability to continue to increase, and
to show year to date profit for the nine months ending September 30,
2006.
- Total assets grew 5.1% in six months from $92.7 million at December 31,
2005 to $97.4 million at June 30, 2006. This growth has primarily
resulted from growth in the loan portfolio, which was up 18.2% during
the first six months, from $53.0 million at December 31, 2005 to $62.7
million at June 30, 2006. Loan growth has been very strong, with an
annualized growth rate of 36.4%.
- The Bank's loan-to-deposit ratio rose to 77.9% at June 30, 2006,
compared to 69.9% at December 31, 2005. Management is targeting a
loan-to-deposit ratio of 85% by the end of the year.
Samuel F. Grigsby, Jr., CEO of Community National Bank of the Lakeway Area, commented, "In the second quarter of 2006, the Bank reached a milestone of quarterly profitability. I am proud of what the employees of Community National Bank of the Lakeway Area have accomplished, and we look forward to reporting continuing profits to our shareholders."
Community National Bank also announced the sale of 800,000 shares of its common stock at an offering price of $11.00 per share through a rights offering to its shareholders and a best-efforts offering underwritten by McKinnon & Company, Inc. The Bank sold 137,685 shares in the rights offering to its shareholders of record on June 23, 2006, and 662,315 shares to the public. Shares of Community National Bank common stock are scheduled to begin trading Wednesday, August 16th, on the NASDAQ Capital Market under the symbol "CNLA."
Registration statements relating to these securities have been filed with, and declared effective by, the Office of the Comptroller of the Currency. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of such jurisdiction. Copies of the prospectus relating to this offering may be obtained from Legh Murphy, (747) 623-4636, with McKinnon & Company, Inc., 999 Waterside Drive, Suite 1200, Norfolk, Virginia 23510.
About Community National Bank:
Community National Bank of the Lakeway Area is a national bank headquartered in Morristown, Tennessee, that opened for business on April 9, 2003, with a branch in Jefferson City, fifteen miles south of Morristown. Community National Bank is one of the four independent banks headquartered in the Morristown Metropolitan Statistical Area. At June 30, 2006, Community National Bank had total assets of $97.4 million, net loans of $62.7 million, deposits of $80.5 million, and shareholders' equity of $5.5 million.
This press release contains forward-looking statements concerning Community National Bank's future activities. Such statements are subject to important factors that could cause Community National Bank's actual results to differ materially from those anticipated by the forward-looking statements. These factors include the factors identified in Community National Bank's Annual Report on Form 10-KSB for the year ended December 31, 2005 under the heading "Risk Factors" which are incorporated herein by reference.
Community National Bank of the Lakeway Area
Financial Highlights
(Unaudited)
Quarter Ended June 30, Six Months Ended June 30,
% %
2006 2005 Change 2006 2005 Change
All dollars in thousand except per share data
EARNINGS
Net interest
income $657 $523 25.6% $1,273 $964 32.1%
Provision for
loan losses 44 12 266.7% 85 12 608.3%
Noninterest
income 110 72 52.8% 193 142 35.9%
Noninterest
expense 713 655 8.9% 1,411 1,278 10.4%
Income taxes 0 0 0% 0 0 0%
Net income 10 (72) 113.9% (30) (184) 83.7%
PER SHARE
INFORMATION
Earnings per
share $0.01 $ (0.07) 114.3% $(0.03) $ (0.19) 84.2%
Dividends
per share 0 0 0 0 0 0
Book value
per share 5.39 6.09 (11.5%)
OPERATING
RATIOS (1)
Net interest
margin 2.81% 2.97% 2.71% 2.94%
Return on
average
assets 0.04% (0.39%) (0.06%) (0.53%)
Return on
average
equity 0.73% (4.83%) (1.06%) (5.99%)
Efficiency
ratio 93.0% 110.1% 96.2% 115.6%
Net charge
offs / average
loans 0.01% 0.00% 0.01% 0.01%
AVERAGE
BALANCES
Loans $59,511 $43,585 36.5% $57,606 $41,802 37.8%
Total
earning
assets 93,392 70,467 32.5% 93,852 65,497 43.3%
Total assets 97,086 74,295 30.7% 97,616 69,305 40.8%
Deposits 72,408 59,055 22.6% 73,142 54,863 33.3%
Borrowed
funds 11,021 1,580 597.5% 10,971 962 1040.4%
Shareholders'
equity 5,498 5,964 (7.8%) 5,672 6,141 (7.6%)
As of
As of June 30, % Dec. 31 %
END OF PERIOD BALANCES 2006 2005 Change 2005 Change
Loans $ 63,277 $ 45,346 39.5% $53,569 18.1%
Reserve for loan losses 624 442 41.2% 547 14.1%
Total earning assets 93,760 72,283 29.7% 88,202 6.3%
Total assets 97,411 76,219 27.8% 92,714 5.1%
Deposits 80,451 67,538 19.1% 75,877 6.0%
Borrowed funds 11,071 2,368 367.5% 10,740 3.1%
Shareholders' equity 5,464 6,034 (9.4%) 5,659 (3.4%)
ASSET QUALITY (END OF PERIOD)
Loans 90 days past due
and still accruing $0 $0 18
Nonaccrual loans 15 30 22
Other real estate owned 0 0 0
Total nonperforming assets 15 30 40
Nonperforming assets /
total assets 0.02% 0.04% 0.04%
Allowance for loan
losses / total loans 0.99% .97% 1.02%
(1) All ratios are annualized.
--------------------------------------------------------------------------------
Source: Community National Bank of the Lakeway Area
ASTT - ASAT Holdings Limited Strengthens Balance Sheet
Tuesday August 15, 4:30 pm ET
Updates Guidance for Q1 Fiscal 2007
HONG KONG and MILPITAS, Calif., Aug. 15 /PRNewswire-FirstCall/ -- ASAT Holdings Limited (Nasdaq: ASTT - News; the "Company"), a global provider of semiconductor package design, assembly and test services, today announced that it strengthened its balance sheet with the closing of a non-interest bearing prepayment of $6 million from one of its customers. The funds will be used to purchase production equipment to support the customer's increasing production schedule over the next 12 months.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030414/ASATLOGO )
Under the terms of the agreement, repayment will be made by offsetting future accounts receivable owed by the customer during a 12 month period beginning in January 2007. During this period, the Company has the option to pay off the outstanding balance at any time without a pre-payment penalty.
"These additional funds are an initial step in our ongoing effort to strengthen our balance sheet," said Robert J. Gange, president and CEO of ASAT Holdings Limited. "This funding provides us with the capital necessary to support our customer's increasing production capacity demands and to complete the final qualification processes in China. In addition, subject to the satisfaction of certain conditions, we also have available $5 million of the $15 million credit facility we entered into in July 2005."
Company Updates Financial Guidance
The Company now anticipates revenue for its first quarter of fiscal 2007, ended July 31, 2006, will be approximately $46.5 million. This is slightly lower than the guidance issued on July 14, 2006.
"While first quarter revenue is slightly below our original expectations, the move to China is producing the cost savings we expected. As a result, we expect our gross margin and operating expenses will be in line with or slightly better than they were in the fourth quarter," said Mr. Gange. "We attribute a combination of factors to our updated first quarter expectations. These include minor delays in completion of the qualification process in China, which is still projected to be finished by the end of the October quarter, and seasonal softness at the end of July that was greater than expected."
ASAT cautions that its anticipated revenue results are preliminary based on the best information currently available and are subject to completion of its preparation of the financial statements for the first quarter of fiscal 2007.
The Company expects to hold a conference call to discuss its first quarter fiscal 2007 financial results and recent corporate events no later than the end of September 2006. Details of the conference call date will be distributed at a later date.
About ASAT Holdings Limited
ASAT Holdings Limited is a global provider of semiconductor package design, assembly and test services. With over 17 years of experience, the Company offers a definitive selection of semiconductor packages and world-class manufacturing lines. ASAT's advanced package portfolio includes standard and high thermal performance ball grid arrays, leadless plastic chip carriers, thin array plastic packages, system-in-package and flip chip. ASAT was the first company to develop moisture sensitive level one capability on standard leaded products. Today the Company has operations in the United States, Asia and Europe. For more information, visit www.asat.com .
Safe Harbor
This news release contains statements and information that involve risks, uncertainties and assumptions. These statements and information constitute "forward-looking statements" within the meaning of federal securities laws including Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Such forward-looking statements, including statements regarding expected revenues, gross margin and operating expenses in the first quarter of fiscal 2007, cost savings from our move to China, completion of the qualification process in China, and our capital needs, involve known and unknown risks, uncertainties, assumptions and other factors that could cause the actual performance, financial condition or results of operations of ASAT Holdings Limited to differ materially from those expressed or implied in any forward-looking statement. Investors are cautioned that actual events and results could differ materially from those contained in these statements as a result of a variety of factors, including conditions in the overall semiconductor market and economy, the need for additional funding, our progress in ramping our new China facility, acceptance and demand for the Company's products and services, operational and technological risks and revisions to the preliminary unaudited financial results which may occur during preparation of financial statements and disclosures. The risks, uncertainties and other factors also include, among others, our ability to successfully implement our diversification strategy and our long-term growth strategy, our ability to continue to realize operational efficiencies and improvements to our cost structure, and those risks, uncertainties, assumptions and other factors stated in the section entitled "Risk Factors" in our Annual Report on Form 20-F filed with the United States Securities and Exchange Commission on August 2, 2005 and the section entitled "Risk Factors" in our quarterly reports on Form 6-K filed with the United States Securities and Exchange Commission. The forward-looking statements in this release reflect the current beliefs and expectations of the Company as of this date, and the Company undertakes no obligation to update these projections and forward-looking statements to reflect actual results or events or circumstances that occur after the date of this news release.
--------------------------------------------------------------------------------
Source: ASAT Holdings Limited
WNBD - Winning Brands Awarded Solvent Free Solutions Contract in Florida to Address Dry Cleaning Pollution in Billion Dollar Industry
Tuesday August 15, 4:46 pm ET
BARRIE, ON--(MARKET WIRE)--Aug 15, 2006 -- Winning Brands Corporation (Other OTC:WNBD.PK - News) announces that its Solvent Free Solutions partnership with Miele USA has been awarded a new contract to outfit Naples, Florida Diamond Cleaners with a professional garment care technology that may rescue a multi-billion dollar industry facing new regulations.
The new system replaces hazardous chemicals still used by conventional Dry Cleaners, whose old Perchloroethylene solvent days may be numbered. The new proprietary form of Wet Cleaning delivers environmentally advanced cleaning agents with plain water instead of "Perc," the conventional toxic solvent. Using the new method it is now possible to have "Dry Clean Only" garments professionally "Wet Cleaned" without using Perchloroethylene. The United States Environmental Protection Agency (EPA) considers Perc to be hazardous to the health of workers, customers and the environment. Most of America's 35,000 Dry Cleaners are still using Perc and many are facing stiff legal regulations and even outright bans on further use. The National Institute of Environmental Health Service (NIEHS) http://www.niehs.nih.gov/external/faq/dryclean.htm says that Perc accounts for 80-85% of all Dry Cleaning chemicals used.
The new technology being installed in Naples, Florida provides Dry Cleaners and their customers with a way out of the environmental headaches and business problems associated with their use of Perc.
Naples, Florida is known for its upscale lifestyle, setting a standard that others emulate. The flagship plant of new Diamond Cleaners will be located at the Bellagio Shoppes directly on US 41 North, to service affluent North Naples, with additional drop sites scheduled to open within three and five months in Central and South Naples. Diamond Cleaners is an initiative by Naples resident Gerhard Helbig to bring advanced standards to the heart of this waterfront community. "Less electricity is used and water leaves the plant ready to bio-degrade for starters," says Mr. Helbig. "Employees are safer and customers don't take toxic residue and toxic smell home in their garments," he adds. The new system to be installed is a proprietary combination of advanced non-toxic cleaning agents manufactured by Winning Brands Corporation, its Solvent Free Solutions Systems Team and breakthrough machine technology from leading European appliance manufacturer Miele. Miele's US headquarters is in Princeton, New Jersey. Diamond Cleaners is under construction now and plans to commence operations in November 2006.
The State of California has already enacted a law to phase out Perc to protect residents of that State, prompting pressure in other States for similar protection. As a result there is a growing concern by Dry Cleaning operators in the USA to identify a winning alternative as technology suppliers vie to design non-Perc systems. The proprietary form of Wet Cleaning which combines Miele hardware with Winning Brands Corporation's Solvent Free Solutions is emerging as a leading contender because of the stable economic operation of their installed sites, an ability to treat all "Dry Clean Only" labelled garments as well or better than Perc with no harmful effects and high consumer satisfaction.
Winning Brands Corporation CEO Eric Lehner, whose company designs and manufactures the advanced cleaning agents for use in Miele Wet Cleaning systems, thanks the Naples entrepreneurs for being leaders in their community. "The momentum is unmistakable," says Lehner. "The business viability of our team's approach is proven. Now it's just a question of who will emerge as leaders within the Dry Cleaning industry to do the right thing and convert," he adds. (www.WinningBrands.ca)
Miele Corporation, a German-based company with over 107 years of experience was recently given the Readers Digest Pegasus Award for being the most trustworthy brand in Europe for domestic and kitchen appliances. Readers Digest contacted 24,832 people in 14 participating European countries in 12 languages. Across all countries and all product categories information for many brands was collected and analysed for its 2005 European Trusted Brands Survey. Each respondent was asked to name the brand he or she trusted the most in the applicable category. Miele emerged as number one in its field. Miele has now turned its attention to the issue of safer "Dry Cleaning," by means of an alternative technology called "Wet Cleaning" for which it is the manufacturer of the hardware described in this News Release.
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Winning Brands Corporation (the Company) to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; and (iii) competitive factors and developments beyond the Company's control.
Contact:
Contact Information
Winning Brands Corporation
Rhonda Windsor
Vice-President Investor Relations
905-898-0918
http://www.WinningBrands.ca
roni@WinningBrands.ca
Solvent Free Solutions Team
OJ Macdonald
Executive Assistant
(866) 300-8042
http://www.SolventFreeSolutions.com
OJ@solventfreesolutions.com
Diamond Cleaners
Uwe Schlegel
Gerhard Helbig
877 91st. Ave. North
Naples, Florida 34110
(239) 564-9053
uschlegel@aol.com
--------------------------------------------------------------------------------
Source: Winning Brands Corporation
Icy-White Precious Metal Makes Debut
Tuesday August 15, 4:54 pm ET
Jewelry designer Caesar Azzam one of the first to design with Palladium
PITTSBURGH, Aug. 15 /PRNewswire/ -- The hottest member of the platinum metal family is making its social debut -- and Pittsburgh-based jewelry designer Caesar Azzam is one of the first to develop designs with the up-and- coming metal. Palladium, an icy white precious metal, is poised to grow in popularity with fine jewelry design because it looks like platinum, but is a third of the cost and half the density.
(Photo: http://www.newscom.com/cgi-bin/prnh/20060815/CLTU070)
Noted by some as "the new platinum," palladium is becoming extremely popular with the most innovative jewelry designers.
"Palladium's workability and low density make it an ideal metal to create modern, oversized pieces that won't weigh down the wearer," said Caesar Azzam, owner of design studio Caesar's Designs. "Palladium is also perfect for creating engagement and wedding bands because unlike white gold, it doesn't require plating -- so there's no risk of the bright white color fading over the years."
When palladium first hit the jewelry scene, Caesar tested the metal's appeal by creating a few pieces for his showroom. His clientele immediately adored this new option in jewelry design. Caesar now uses palladium to create pieces for his most popular collections: the Oversized Collection of big, bold, sparkly gemstone rings and Butter, which features an incredibly smooth and comfortable contour fit -- so it feels like butter. Caesar also creates custom bridal sets in palladium. To view the collections, visit http://www.caesarsdesigns.com/collections.php.
In June, Caesar showed off some of his newest palladium pieces created in response to his invitation to the JCK Show in Las Vegas -- one of the largest jewelry shows in the nation. He was one of the 150 jewelry designers chosen by a jury of industry professionals to showcase work in the prestigious Design Center area of the exhibition hall.
Already coveted in Pittsburgh, Caesar's Designs has gained more national attention in recent months, as seen in publications such as W Magazine, W Jewelry, National Jeweler and worn by Kirstie Alley on the cover of Ladies' Home Journal.
Established in 1998 and based in Pittsburgh, PA, Caesar's Design creates contemporary jewelry with a sleek presentation, exquisite style and an enchanting feel.
Available Topic Expert(s): For information on the listed expert(s), click
appropriate link.
Caesar Azzam
http://profnet.prnewswire.com/ud_public.jsp?userid=10031869
--------------------------------------------------------------------------------
Source: Caesar's Designs
CENF - Central Freight Lines, Inc. Provides Update on Merger With Moyes-Owned Company and Announces Agreements in Principle to Settle Class Action and Derivative Litigation
Tuesday August 15, 5:01 pm ET
WACO, Texas, Aug. 15 /PRNewswire-FirstCall/ -- Central Freight Lines, Inc. (Nasdaq: CENF - News) announced today that it expects to move further towards completion of its previously announced Merger transaction by responding within the next week to a second set of comments from the Securities and Exchange Commission (the "SEC"). The Merger Agreement provides that a company controlled by Jerry Moyes and certain related parties would become the owners of Central, and Central would cease to be a publicly traded company.
In addition, Central announced today that it has reached oral agreements in principle with the plaintiffs to settle all outstanding securities class action litigation, two purported derivative actions related to the period between the date of Central's initial public offering and August 2004, and a third derivative action related to the Merger transaction. The agreements do not contain any admission of fault or wrongdoing on the part of Central or any of the individual defendants in such litigation. The agreements are subject to the completion of the usual and customary documentation for such settlements, and are subject to, and conditioned upon, final court approval. The settlements will be funded from the proceeds of Central's directors' and officers' liability insurance policy. It is a condition to the consummation of the Merger that this litigation be settled within Central's limits of coverage under the applicable insurance policies.
In making the announcement today, Bob Fasso, Central's Chief Executive Officer and President, stated: "We now expect to mail the finalized definitive proxy statement to stockholders in September. The proxy statement will solicit proxies for voting on the Merger transaction at our Annual Meeting, which will be held approximately 30 days from the date the proxy statements are mailed to our stockholders."
Jerry Moyes added: "I am pleased with the continued progress made on the Merger and look forward to closing the transaction as soon after the Annual Meeting as possible."
On January 30, 2006, Central announced that it had entered into an Agreement and Plan of Merger (the "Merger Agreement"), with North American Truck Lines, LLC ("NATL") and Green Acquisition Company ("Green"). Under the Merger Agreement, Green will merge with and into Central (the "Merger"), with Central continuing as the surviving corporation. Both NATL and Green are controlled by Mr. Moyes, with Green being a wholly owned subsidiary of NATL.
On April 17, 2006, Central filed a preliminary proxy statement with the SEC for its 2006 Annual Meeting of Stockholders. On May 16, 2006, Central received comments from the SEC, which were answered by Central on June 19, 2006. On July 5, 2006, the SEC issued a second set of comments, which Central expects to address in a filing within the next week. Once the SEC's review of the proxy statement is finalized, the definitive proxy statement will be mailed to Central's stockholders to solicit proxies for voting on the Merger and other matters presented at the Annual Meeting.
Stockholders are urged to read the definitive proxy statement carefully when it becomes available because it will contain important information about Central, the Merger transaction, and related matters. Stockholders will be able to obtain free copies of the proxy statement and other documents filed with the SEC by Central through the SEC's web site at http://www.sec.gov . In addition, stockholders will be able to obtain free copies of the definitive proxy statement from Central.
Central Freight Lines, Inc. is a non-union, less-than-truckload carrier specializing in regional overnight and second day markets in the Midwest, Southwest, West Coast, and Pacific Northwest. Utilizing marketing alliances, the Company also provides service to the Great Lakes, Northeast, Southeast, Mexico, and Canada.
This press release contains forward-looking statements that involve risk, assumptions, and uncertainties that are difficult to predict. Statements that constitute forward-looking statements are usually identified by words such as "anticipates," "believes," "estimates," "projects," "expects," "plans," "intends," or similar expressions. These statements are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Such statements are based upon the current beliefs and expectations of our management and are subject to significant risks and uncertainties. Actual events may differ materially from those set forth in the forward-looking statements. We undertake no obligation to update any of these forward-looking statements.
With respect to statements regarding the consummation of the Merger and the proposed settlement of litigation, the following factors, among others, could cause actual results to differ materially from those in forward-looking statements: the risk that our business will suffer due to uncertainties caused by the announcement of the transaction; the risk that we may not be able to obtain third party and stockholder approvals necessary to consummate the transaction; as well as the risk that the transaction will not close for other reasons; the risk that the parties to the litigation in question will not be able to agree on the terms of the proposed settlement as they prepare the settlement documents or that the parties will not be able to obtain court approval of the proposed settlement for some reason.
Corporate Contact:
Jeff Hale, Chief Financial Officer
(480) 361-5295
jhale@centralfreight.com
--------------------------------------------------------------------------------
Source: Central Freight Lines, Inc.
ECTX - An Operator From the Telefonica Moviles Group Places an Order for ECtel's Next Generation of Fraud Detection and Prevention Solution, FraudView(R) Release 8
Wednesday August 16, 6:36 am ET
Operator Plans to Replace a Competing System With the Next Generation FraudView(R), After Using Both FraudView(R) and the Competing System
ROSH HA'AYIN, Israel, August 16 /PRNewswire-FirstCall/ -- ECtel Ltd. (NASDAQ: ECTX - News), a leading provider of Integrated Revenue Management(TM) (IRM(TM)) solutions, today announced that an operator from the Telefonica Moviles group has placed a purchase order for ECtel's FraudView® Release 8. As part of the project, ECtel will upgrade an older version of FraudView® as well as replace a competing system.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/FLTU015LOGO )
The Telefonica Moviles group is the leading operator in Latin America and the Spanish and Portuguese speaking markets by customer base. The company has operations in 15 countries across three continents and a customer base that totals more than 98.5 million.
FraudView® is the leading and most complete fraud management solution for telecom operators. Designed to meet the needs of wireline, wireless, convergent and next generation communication service providers, FraudView® features an array of unique, state-of-the-art fraud detection and prevention technologies enabling thousands of fraud controls. FraudView® is the first solution to include ECtel's Online Fraud Data Exchange (FDE) technology, allowing operators to download anti-fraud updates directly into their FraudView systems.
"This order validates the competitive advantage and the benefits customers see in our IRM(TM) solutions" commented Mr. Eitan Naor, President and CEO of ECtel. "We are pleased that having gained hands-on experience with both FraudView® and the competing solution, this Telefonica affiliate has selected ECtel as its vendor of choice for the next generation of services. We are confident that the project will once again deliver excellent return-on-investment to our customer, that can potentially facilitate additional business with the Telefonica Moviles group".
About ECtel
ECtel (NASDAQ: ECTX - News) is a leading global provider of Integrated Revenue Management(TM) (IRM(TM)) solutions for communications service providers. A pioneering market leader for over 15 years, ECtel offers carrier-grade solutions that enable wireline, wireless, converged and next-generation operators to fully manage their revenue and cost processes. ECtel IRM(TM) Product Suite features the world-leading fraud and revenue assurance products, FraudView®, RAP and CashView®, that minimize operator revenue leakage across networks and operations support systems (OSSs). ECtel serves prominent tier one operators, and has more than 100 implementations in over 50 countries worldwide. Established in 1990, ECtel maintains offices in the Americas, Europe and Asia Pacific. For more information, visit www.ectel.com
Certain statements contained in this release contain forward-looking information with respect to plans, projections or future performance and products of the Company, the occurrence of which involves certain risks and uncertainties, including, but not limited to, the reoccurrence of sales to existing customers, the ability to recognize revenue in future periods as anticipated, the possible slow-down in expenditures by telecom operators, the unpredictability of the telecom market, product and market acceptance risks, ability to complete development and market introduction of new products, the impact of competitive pricing and offerings, fluctuations in quarterly and annual results of operations, dependence on several large customers, commercialization and technological difficulties, risks related to our operations in Israel and other risks detailed in the Company's annual report on Form 20-F and other filings with the Securities and Exchange Commission. ECtel undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contacts:
ECtel Ltd.
Ron Fainaro
Senior Vice President and CFO
Tel: +972-3-9002102
Fax: +972-3-9002103
Email: Ronf@ectel.com
ECtel Ltd.
Dana Rubin
MarCom Manager
Tel: +972-3-9002656
Fax: +972-3-9002103
Email: Danar@ectel.com
--------------------------------------------------------------------------------
Source: ECtel Ltd.
MAGS - Magal Reports Orders of US$1.7 Million
Wednesday August 16, 6:41 am ET
YAHUD, Israel, August 16 /PRNewswire-FirstCall/ -- Magal Security Systems, Ltd. (NASDAQ GM: MAGS, TASE: MAGS) announced that it recently received two orders totaling US$1.7 million. The orders were received from customers in two countries and include a broad selection of Magal Group's products, including the DreamBox, an all-in one CCTV solution, the MTC-1500 day and night surveillance system and the company's recently introduced MSS-1500, a highly advanced mobile surveillance system that can be quickly deployed. This system is targeted for use by special surveillance and security forces worldwide.
Mr. Jacob Even-Ezra, Chairman of Magal, said: "These orders will be shipped during the third and fourth quarters of this year, and will contribute to the Company's performance in 2006."
About Magal Security Systems, Ltd.:
Magal Security Systems Ltd. (Magal) is engaged in the development, manufacturing and marketing of computerized security systems, which automatically detect, locate and identify the nature of unauthorized intrusions. Magal also supplies video monitoring services through Smart Interactive Systems, Inc., a subsidiary in the U.S. The Company's products are currently used in more than 70 countries worldwide to protect national borders, airports, correctional facilities, nuclear power stations and other sensitive facilities from terrorism, theft and other threats. Israeli-based Magal has subsidiaries in the U.S., Canada, the U.K., Germany, Romania, Mexico and an office in China.
Magal trades under the symbol MAGS in the U.S. on the Nasdaq National Market since 1993 and in Israel on the Tel-Aviv Stock Exchange (TASE) since July 2001.
This press release contains forward-looking statements, which are subject to risks and uncertainties. Such statements are based on assumptions and expectations which may not be realized and are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, financial and otherwise, may differ from the results discussed in the forward-looking statements. A number of these risks and other factors that might cause differences, some of which could be material, along with additional discussion of forward-looking statements, are set forth in the Company's Annual Report on Form 20-F filed with the Securities and Exchange Commission.
Contacts:
Company Investor Relations
Magal Security Systems, Ltd Gelbart Kahana Investor Relations
Raya Asher, CFO Ehud Helft/Kenny Green
Tel: +972-3-5391444 Tel: +1-866-704-6710
Fax: +972-3-5366245 E-mail: Ehud@gk-biz.com
E-mail: magalssl@trendline.co.il Kenny@gk-biz.com
--------------------------------------------------------------------------------
Source: Magal Security Systems Ltd
Agree, however..
JMO but the The Leonards might concider using that $1,661
to investigate the judge in this case.
EXPH - Expo Holdings, Inc. Declares a 10:1 Forward Stock Split
Tuesday August 15, 5:09 pm ET
NORTH WILKESBORO, N.C., Aug. 15, 2006 (PRIMEZONE) -- Expo Holdings, Inc. (Other OTC:EXPH.PK - News), retail display manufacturer with such well-known customers as Lowe's Home Improvement Warehouse, Hitachi, and Bernzomatic, is pleased its Directors voted for a 10:1 forward stock split on Aug 11, 2006, for shareholders of record on August 23. After the forward stock split, Expo Holdings will have approximately 477,373,760 shares of common stock outstanding and 1,000,000,000 authorized.
According to J.D. Brown, Chairman and CEO, ``The forward stock split will increase the number of shares available for trading and should provide additional liquidity for our investors.''
Expo Holdings, Inc., through its wholly owned subsidiary D&D Displays, Inc., designs, manufactures and distributes retail store displays.
Certain information contained in these materials is ``forward-looking'' information, such as projections, estimates, pro formas, or statements of intentions, expectations or plans. All forward-looking information is subject to known and unknown risks and uncertainties, many of which are outside of the control of the Company. Consequently, actual results may, and probably will, differ materially from the results contemplated in such forward-looking information.
Contact:
Expo Holdings, Inc., North Wilkesboro
J.D. Brown
(336) 667-8765
--------------------------------------------------------------------------------
Source: Expo Holdings, Inc.
EXPH - Expo Holdings, Inc. Declares a 10:1 Forward Stock Split
Tuesday August 15, 5:09 pm ET
NORTH WILKESBORO, N.C., Aug. 15, 2006 (PRIMEZONE) -- Expo Holdings, Inc. (Other OTC:EXPH.PK - News), retail display manufacturer with such well-known customers as Lowe's Home Improvement Warehouse, Hitachi, and Bernzomatic, is pleased its Directors voted for a 10:1 forward stock split on Aug 11, 2006, for shareholders of record on August 23. After the forward stock split, Expo Holdings will have approximately 477,373,760 shares of common stock outstanding and 1,000,000,000 authorized.
According to J.D. Brown, Chairman and CEO, ``The forward stock split will increase the number of shares available for trading and should provide additional liquidity for our investors.''
Expo Holdings, Inc., through its wholly owned subsidiary D&D Displays, Inc., designs, manufactures and distributes retail store displays.
Certain information contained in these materials is ``forward-looking'' information, such as projections, estimates, pro formas, or statements of intentions, expectations or plans. All forward-looking information is subject to known and unknown risks and uncertainties, many of which are outside of the control of the Company. Consequently, actual results may, and probably will, differ materially from the results contemplated in such forward-looking information.
Contact:
Expo Holdings, Inc., North Wilkesboro
J.D. Brown
(336) 667-8765
--------------------------------------------------------------------------------
Source: Expo Holdings, Inc.
EXPH - Expo Holdings, Inc. Declares a 10:1 Forward Stock Split
Tuesday August 15, 5:09 pm ET
NORTH WILKESBORO, N.C., Aug. 15, 2006 (PRIMEZONE) -- Expo Holdings, Inc. (Other OTC:EXPH.PK - News), retail display manufacturer with such well-known customers as Lowe's Home Improvement Warehouse, Hitachi, and Bernzomatic, is pleased its Directors voted for a 10:1 forward stock split on Aug 11, 2006, for shareholders of record on August 23. After the forward stock split, Expo Holdings will have approximately 477,373,760 shares of common stock outstanding and 1,000,000,000 authorized.
According to J.D. Brown, Chairman and CEO, ``The forward stock split will increase the number of shares available for trading and should provide additional liquidity for our investors.''
Expo Holdings, Inc., through its wholly owned subsidiary D&D Displays, Inc., designs, manufactures and distributes retail store displays.
Certain information contained in these materials is ``forward-looking'' information, such as projections, estimates, pro formas, or statements of intentions, expectations or plans. All forward-looking information is subject to known and unknown risks and uncertainties, many of which are outside of the control of the Company. Consequently, actual results may, and probably will, differ materially from the results contemplated in such forward-looking information.
Contact:
Expo Holdings, Inc., North Wilkesboro
J.D. Brown
(336) 667-8765
--------------------------------------------------------------------------------
Source: Expo Holdings, Inc.
MCDT - McDATA Partners to Help Customers Optimize Storage Environments
Wednesday August 16, 6:00 am ET
McDATA Now Offers the Only Software on the Market to Address the 'Performance Visibility Gap'
BROOMFIELD, Colo., Aug. 16, 2006 (PRIMEZONE) -- Companies store and manage large amounts of data, but obtaining meaningful usage statistics for all of the data is difficult, creating a ``performance visibility gap''. Today, McDATA Corporation (NASDAQ:MCDTA - News) (NASDAQ:MCDT - News), the leading provider of data access solutions, and IntelliMagic, a leading provider of products for analysis and modeling of storage systems, announced a strategic reseller partnership that will help companies maximize the performance and utilization of their storage environments. IntelliMagic's software is the only performance management/capacity planning software on the market to address this visibility gap. Through this reseller relationship, McDATA can better meet the requirements and deliver more value to its large, global customer base.
There are several issues contributing to the ``performance visibility gap''. Reporting methods commonly used today provide component level performance reporting, rather than end to end, system level metrics. Furthermore, some very important performance metrics are not natively available and must be manually computed. In addition, commonly used methods lack the intelligence about the architecture and the data, making them less effective than the intelligent analysis available with IntelliMagic's software.
IntelliMagic's software products include solutions for both tape and disk storage optimization. IT managers gain superior visibility into I/O performance using IntelliMagic's predictive analytics and reporting capabilities. The products allow them to monitor the usage of their storage systems and determine at early stages where bottlenecks are starting to occur so that they can diagnose and avoid I/O performance issues. Managers can also explore the capacity left for growth and predict the effect on performance that changes to various subsystem components will have.
``Companies live and breathe on data access,'' said Todd Oseth, chief operating officer, McDATA. ``If there are weaknesses in a storage environment that can be manipulated to better utilize the current infrastructure, or pinpointed for possible upgrades, then access to data is optimized. IntelliMagic's software will allow our customers to do that.''
As storage needs increase, data is shared between increasing numbers of host servers. This requires a consolidated view on subsystem performance. IntelliMagic's products are designed to consolidate measurement data across host servers, thus providing managers with all the information they need to research the current situation or to plan for upgrades. Companies will also find IntelliMagic products provide the most complete planning and monitoring capabilities of commonly used remote copy solutions such as SRDF/A, TrueCopy, Global Mirror, XRC, and others.
``We believe that our products will add to McDATA's offering by providing advanced storage monitoring and sizing capabilities,'' said Dr. Gilbert Houtekamer, Managing Director of IntelliMagic. ``McDATA customers will benefit by gaining new insights into their storage environment, and this will increase their ability to deliver the required service levels for data access performance.''
About McDATA (http://www.mcdata.com)
McDATA (NASDAQ Global Select: MCDTA/MCDT) is the leading provider of data access solutions, helping customers build, globally connect, optimize and centrally manage data infrastructures across SAN, MAN and WAN environments. With nearly 25 years experience developing SAN products, services and solutions, McDATA is the trusted partner in the world's largest data centers, connecting more than two-thirds of all networked data.
About IntelliMagic (http://www.IntelliMagic.net)
IntelliMagic, a privately held company with headquarters in the Netherlands, is a leading provider of enterprise storage performance analysis and storage sizing software. IntelliMagic products have been used at thousands of sites around the world by vendors and consultants and have recently been made available for direct end-user licensing.
Forward-Looking Statements
This press release contains statements about expected future events that are forward-looking and subject to risks and uncertainties. Readers are urged to consider statements that include the terms ``believes'', ``belief'', ``expects'', ``plans'', ``objectives'', ``estimates'', ``anticipates'', ``intends'', ``targets'', or the like to be uncertain and forward-looking. Factors that could cause actual results to differ and vary materially from expectations include, but are not limited to, McDATA's relationships with EMC, IBM and Hitachi Data Systems and the level of their orders, aggressive price competition by numerous other SAN and IP switch suppliers, OEM qualification of our new products, integration of CNT's sales and marketing functions, manufacturing constraints, constraints in obtaining third party product for resale and other risk factors that are disclosed in McDATA's filings with the Securities and Exchange Commission. These cautionary statements by McDATA should not be construed as exhaustive or as any admission regarding the adequacy of disclosures made by McDATA. All cautionary statements should be read as being applicable to all forward-looking statements wherever they appear. McDATA does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
McDATA Corporation
Media:
Jil Backstrom
(720) 558-4774
press.release@mcdata.com
Investors:
Renee Lyall
(408) 567-5815
renee.lyall@mcdata.com
--------------------------------------------------------------------------------
Source: McDATA
STAA - STAAR Surgical Announces First Myopia Treatment in China Using the Visian ICL(TM)
Wednesday August 16, 6:30 am ET
Patient's Eyesight Improved From Severely Myopic and Astigmatic to Better Than 20/20 Three Hours After Surgery
MONROVIA, Calif., Aug. 16 /PRNewswire-FirstCall/ -- STAAR Surgical Company (Nasdaq: STAA - News), a leading developer, manufacturer and marketer of minimally invasive ophthalmic products, today announced that the first Visian ICLs(TM) (Implantable Collamer Lenses) have been surgically implanted in China since the State Food and Drug Administration of the People's Republic of China (SFDA) approved the marketing of the product last month.
Professor Yuangui Wang performed the first two bilateral surgeries on August 9, 2006, at the WJ Army Hospital in Shenzhen, a city of more than 4 million people in the Guangdong Province of southern China. The first patient was a nearsighted 35-year-old male journalist with astigmatism, and the second patient was a severely nearsighted 19-year-old female student, also suffering from astigmatism. Both had significantly improved vision after the procedure.
"The first patient was -9.5D with some astigmatism and the second was -13 with 2.5D of astigmatism before treatment," said Professor Yuangui. "After we implanted the Visian ICL, the first patient could see 20/15 with both eyes, and the 2nd patient improved to 20/20 the following day, a major improvement that shocked all of the staff.
"These outstanding results didn't really surprise me, however, as I have been following the ICL for a couple of years and had heard of its fast recovery," Professor Yuangui added. "The patients were absolutely delighted with the results."
Made of STAAR's proprietary, highly biocompatible Collamer® material, the ICL is the only minimally invasive foldable lens of its kind approved for the Chinese commercial market. As a result of the unique foldable design, the ICL procedure allows an incision up to 50% smaller than competing technology, and its placement in the eye behind the iris provides a more aesthetically pleasing outcome. Additionally, the procedure has been given positive reviews by ophthalmologists and other eye care professionals who have been taught the procedure at pre-established training facilities in China.
"The surgical procedure is straightforward and easy to learn," said Prof. Yuangui. "As the procedure does not alter the shape of the cornea, I feel that I'm correcting vision in a much more natural way. I believe the ICL will become a major option for my refractive patients."
"The first successful procedures are an important achievement for STAAR in our entry into the Chinese market," said David Bailey, President and CEO of STAAR Surgical. "China is currently the second largest market in the world for the LASIK procedure, and we feel we are taking the steps necessary to establish the Visian ICL as an attractive alternative to LASIK for the future. We believe that this market has the potential to become one of the largest markets for our ICL and will lead to meaningful growth in our overall refractive business."
Myopia, the inability to see distant objects as clearly as near objects, and astigmatism, an uneven curvature of the surface of the eye that causes visual blurriness, occur more frequently in Asian countries. In May 2005, STAAR announced it had received approval to market the Visian Toric ICL in South Korea and the ICL and Toric ICL in Singapore. South Korea is currently the Company's largest Asian market for the Visian ICL and TICL and one of the Company's top two markets internationally.
About STAAR Surgical
STAAR Surgical is a leader in the development, manufacture and marketing of minimally invasive ophthalmic products employing proprietary technologies. STAAR's products are used by ophthalmic surgeons and include the Visian ICL, a tiny, flexible lens implanted to correct refractive errors, as well as innovative products designed to improve patient outcomes for cataracts and glaucoma. STAAR's ICL is approved by the FDA for use in treating myopia, has received CE Marking and is approved for sale in 43 countries. More than 50,000 ICLs have been sold worldwide. Collamer® is a registered trademark for STAAR's proprietary collagen co-polymer lens material. More information is available at www.staar.com.
Safe Harbor
All statements in this press release that are not statements of historical fact are forward-looking statements, including any statements of the plans, strategies, and objectives of management for future operations, any statements regarding expectations for success of the ICL or other products in U.S. or international markets, statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. The risks and uncertainties include our limited capital resources and limited access to financing, our ability to overcome negative publicity resulting from warning letters and other correspondence from the FDA Office of Compliance, the willingness of surgeons and patients to adopt a new product and procedure, and our ability to successfully launch and market the ICL in the U.S. while overcoming the foregoing challenges. Our ability to capitalize on the opportunity presented by the approval of the ICL in China depends on our overall financial condition, which can be adversely affected by general economic conditions and other factors beyond our control, including those detailed from time to time in our reports filed with the Securities and Exchange Commission. STAAR assumes no obligation to update these forward- looking statements to reflect future events or actual outcomes and does not intend to do so.
CONTACT:
Investors
EVC Group
Douglas Sherk, 415-896-6820
Jenifer Kirtland, 415-896-6820
Media
EVC Group
Jen Saunders, 646-277-8720
--------------------------------------------------------------------------------
Source: STAAR Surgical Company
ARME - Armor Electric Inc. Announces Mexico City Pedi-Cab Contracts Delivered for Approval
Wednesday August 16, 6:30 am ET
SOLANA BEACH, Calif., Aug. 16, 2006 (PRIMEZONE) -- Armor Electric Inc. (OTC BB:ARME.OB - News) announced today that the blanket purchase agreement and corresponding contract for four hundred electric propulsion units and sixty vehicle components has been delivered to the Mexico City management group for review and approval. Upon contractual approval, production ramping will begin and follow-on orders will be placed.
In addition, phase two development plans for the four wheel NEV taxi cab are underway. This vehicle will be designed to transport more people, at higher speeds, over longer distances. The use of this vehicle is intended for the larger metropolitan areas of Mexico City.
About Armor Electric, Inc.
Armor Electric, Inc. is a leader in the design, manufacture, and distribution of electric battery power drive systems for land and water vehicles.
This information may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed on the website might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
Contact:
Armor Electric, Inc.
Investor Relations
(858) 720-0354
cschertzer@armorelectric.com
www.armorelectric.com
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Source: Armor Electric Inc.
No kidding Dave, this caught my eye...The Leonards had estimated the total damage to their home at $130,253. They said $47,365 in damage was caused by wind. Nationwide paid only $1,661, blaming the remainder on the storm surge.
probably paid that at least yearly for the insurance coverage to begin with.
AROR - Aurora Medical Technology, Inc. Press Release
Tuesday August 15, 6:28 pm ET
BAYSHORE, N.Y., Aug. 15 /PRNewswire/ -- Aurora Medical Technology, Inc. ("Aurora") (Pink Sheets: AROR - News) announced today an internal investigation has been commenced by Aurora's Board of Directors related to the trading of its stock between January 1, 2006, and July 31, 2006. The investigation is being conducted as a result of action commenced by the U.S. Securities and Exchange Commission against certain individuals, alleging that such individuals participated in a fraudulent scheme to manipulate the market for the stock of Aurora. As a result of the ongoing investigation, Aurora will delay the release of its financial statements for the quarter ended June 30, 2006, and the six months ended December 31, 2005.
Chief Executive Officer, Jahangir Rastegar, stated: "Aurora, its officers and directors are committed to fulfilling the Company's potential and will continue to uphold the highest standards of integrity as well as fulfill our fiduciary duties to the Company and its shareholders."
On or about July 14, 2006, Aurora received a subpoena from the U.S. Securities and Exchange Commission (the "SEC") requesting the production of certain documents. In addition, officers, shareholders and board of directors members Harry S. Soroff, MD, Jahangir Rastegar, PhD, and Marc Leahy each received a subpoena from the SEC requiring their oral testimony. Aurora cannot give any assurance as to the outcome of these subpoenas, any related or subsequent investigation, or other matters that may arise therefrom.
Pursuant to Section 12(k) of the Securities Exchange Act of 1934, as amended, trading in Aurora common stock was temporarily suspended for the period from 9:30 a.m. EDT, on July 14, 2006, through 11:59 p.m. EDT, on July 27, 2006. The SEC stated, in its order suspending trading, "it appears to the [SEC] that there is a lack of current and accurate information concerning the securities of [Aurora] because of possible manipulative conduct occurring in the market for the company's stock."
Aurora is focused on resolving these issues as quickly as possible and plans to make available financial statements for the quarter ended June 30, 2006, and the six months ended December 31, 2005, as soon as practicable.
Cautionary Statement Regarding Forward-Looking Statements
This document contains certain forward-looking statements about Aurora. When used in this document, the words "anticipates", "may", "can", "believes", "expects", "projects", "intends", "likely", similar expressions and any other statements that are not historical facts, in each case as they relate to Aurora or the management of Aurora are intended to identify those assertions as forward-looking statements. In making any such statements, the person making them believes that its expectations are based on reasonable assumptions. However, any such statement may be influenced by factors that could cause actual outcomes and results to be materially different from those projected or anticipated. These forward-looking statements are subject to numerous risks and uncertainties. There are various important factors that could cause actual results to differ materially from those in any such forward-looking statements, many of which are beyond the control of Aurora. The actual results or performance by Aurora could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurances can be given that any of the events anticipated by the forward- looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of Aurora.
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Source: Aurora Medical Technology, Inc.
POSS - Medafor, Inc., Announces the Introduction of MPatcH(R) Vascular Closure Device to International Cardiology Markets
Tuesday August 15, 7:09 pm ET
Unique Hemostatic Closure System for Diagnostic and Interventional Cardiologic Procedures Is Based on Medafor's Patented MPH(R) Technology
MINNEAPOLIS, Aug. 15 /PRNewswire/ -- Medafor, Inc., announced today that its MPatcH® vascular closure system will now be available to markets in Europe, Africa, the Middle East, Central and South America and Asia-Pacific. MPatcH® will be marketed through Medafor's subsidiaries in Germany and France and its international distributor network. MPatcH® is distributed in the U.S. by Possis Medical, Inc. (Nasdaq: POSS - News).
The MPatcH® is an innovative topical vascular closure system indicated for patients undergoing diagnostic and interventional cardiologic procedures. The patch system employs Medafor's patented Microporous Polysaccharide Hemospheres (MPH®) technology which instantly dehydrates blood at the wound site, creating rapid hemostasis and resilient clotting. This action significantly reduces the necessary time for hemostasis versus manual compression in vascular access procedures.
"MPatcH® received a highly favorable response at the Paris Course on Revascularization in May, and we are very excited about its launch into the international arena," said Gary Shope, Medafor C.E.O. "We have long seen the need for a simple and efficacious closure system for vascular procedures both domestically and internationally. The MPatcH® is not only fast-acting and highly effective; it is the only topically applied closure device utilizing Medafor's MPH® technology, a patented, plant-based hemostat."
Medafor's Arista-AH® surgical powder hemostat has been marketed internationally since 2002. Medafor has filed its PMA application for Arista(TM)-AH surgical hemostat with the FDA, and anticipates U.S. marketing approval before the end of the year. For further information about Medafor's technology, research and products, please visit http://www.medafor.com .
Medafor, Inc., is a privately held Minnesota Corporation based in Minneapolis. The Company was founded in 1999 to develop and market applications for its patented, innovative hemostatic technology.
This release may contain forward-looking statements based on current expectations of future events. If underlying assumptions prove inaccurate, or unforeseen risks or circumstances materialize, actual results could vary materially from expectations and projections stated herein. The Company assumes no obligation to update any forward-looking statements as a result of new information or future developments.
MPH® and MPatcH® are trademarks of Medafor, Inc.
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Source: Medafor, Inc.
VGZ - Vista Gold Corp. Announces Proposed Registered Offering of Common Shares in Connection with Proposed Spin-Off
Tuesday August 15, 8:06 pm ET
DENVER, Aug. 15 /PRNewswire-FirstCall/ -- Vista Gold Corp. (Amex: VGZ; TSX) announced today that it plans to file a shelf registration statement with the U.S. Securities and Exchange Commission (the "Commission") relating to the proposed registration for offering of up to four million common shares from time to time and through one or more methods of distribution, subject to market conditions and the Corporation's capital needs. The Corporation anticipates that some or all of the registered shares will be issued to raise approximately US$25 million to be invested in a company to be spun off by the Corporation. The proposed spin-off transaction was previously announced in the Corporation's press release dated July 10, 2006, and Form 8-K filed with the Commission on July 12, 2006, which set forth terms of a letter of intent ("LOI") with respect to the transaction.
The proposed registered offering by the Corporation represents a change in funding plans in lieu of the previously contemplated private placement to be undertaken by the spun-off company under the terms of the LOI as initially reported. On August 15, 2006, the LOI was amended to provide for this change among other matters. The Corporation is filing an amendment to the above Form 8-K to provide additional information about the amendment including the foregoing change.
The exact timing of the Vista financing and details about pricing and other matters will be disclosed once they have been finalized.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the Securities Act of 1933, as amended, and applicable securities laws of any such state or jurisdiction.
About Vista Gold Corp.
Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de Los Reyes projects in Mexico, the Mt. Todd project in Australia, the Amayapampa project in Bolivia and the Awak Mas project in Indonesia.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including those relating to the proposed equity financing by the Corporation, are forward-looking statements. The timing, occurrence and results of events could differ materially from those anticipated in the forward-looking statements as a result of risks and uncertainties, which include, without limitation, capital market conditions, risks relating to fluctuations in the price of gold and uncertainties concerning reserve and resource estimates, as well as those factors discussed in the Corporation's latest Annual Report on Form 10-K and its other filings with the U.S. Securities and Exchange Commission. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Vista assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com
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Source: Vista Gold Corp.
WOW...Judge Rules Policy Excluded Flood Damage
Tuesday August 15, 5:59 pm ET
By Michael Kunzelman, Associated Press Writer
Judge Rules Nationwide Policy Excluded Flood Damage From Hurricane Katrina
GULFPORT, Miss. (AP) -- A federal judge ruled Tuesday that an insurance company's policies do not cover damage from flood waters or storm surge in a decision that could affect hundreds of upcoming cases related to property damage from Hurricane Katrina.
U.S. District Judge L.T. Senter Jr. ruled that a Mississippi Gulf Coast couple cannot collect damages from storm surge caused by Katrina because Nationwide Mutual Insurance Co.'s policies do not cover wind-driven water damage.
Senter said Paul and Julie Leonard of Pascagoula could be compensated for damage that they could prove was caused by high winds, however.
"Almost all the damage to the Leonard residence is attributable to the incursion of water," Senter wrote in the 13-page decision.
Senter's ruling could set a precedent for hundreds of other court challenges to the insurance industry for denying billions of dollars in claims after the Aug. 29 hurricane ravaged the coasts of Louisiana and Mississippi.
Although Senter ruled that Nationwide's policies do not cover damage from storm surge, the judge also concluded a key policy provision the company has used to deny coverage is ambiguous.
Nationwide and other insurers say their homeowners policies cover damage from a hurricane's wind, but not in cases where it resulted from a combination of wind and water.
"This reading of the policy would mean that an insured whose dwelling lost its roof in high winds and at the same time suffered an incursion of even an inch of water could recover nothing under his Nationwide policy," he wrote.
"From our perspective, it lifts a very large cloud of uncertainty that has been hanging over the insurance market of the Gulf Coast," Joseph Annotti, spokesman for the Property Casualty Insurers Association of America, said in reaction to the ruling. "A healthy insurance market is absolutely key to a rejuvenated economy down there."
Shares of most property and casualty insurers rose following the ruling, amid a generally surging stock market.
American International Group Inc. shares added 73 cents to $62.43. Allstate Corp. shares gained 80 cents to $57.22, St. Paul Travelers Cos. shares rose 93 cents, or 2.1 percent, to $44.02, and Hartford Financial Services Group Inc. shares jumped $1.01 to $82.49, all on the New York Stock Exchange.
"It's a favorable first decision for the industry," said Fox-Pitt Kelton analyst Gary Ransom. "I never really had much doubt that this was the way it was going to work out. There's a lot of precedent for this. It's not like we're interpreting these contracts for the first time."
The Leonards had estimated the total damage to their home at $130,253. They said $47,365 in damage was caused by wind. Nationwide paid only $1,661, blaming the remainder on the storm surge.
The couple's attorneys had asked for more than $158,000 for the damage to the house and its contents, plus interest and attorneys' fees and expenses. Senter, however, ruled that Nationwide only owed the Leonards about $1,228 more than what the company already has paid them for wind damage.
Both sides claimed victory in the wake of Senter's ruling.
"The Leonards did not win as much money as I hoped they would have, but they won this case," said one of their attorneys, Richard "Dickie" Scruggs. "It's always great to get a win in the first game of the season, whether it's by one point or 30 points."
Paul Leonard, a police lieutenant, acknowledged that an extra $1,228 only covers a fraction of the repair costs for his home, but he also considered Senter's ruling a victory.
"I believe anybody in a civil trial asks for the moon and is able to live with what they get," he said.
Nationwide spokesman Joe Case said the company is pleased that Senter upheld the terms of the flood exclusion language in its policies.
"While it is unfortunate that the Leonards did not choose to purchase flood insurance, insurance carriers have an obligation on behalf of all policyholders to adjust claims based on factual evidence that supports coverage payments," Case said in a prepared statement.
The Leonards claimed a Nationwide agent, Jay Fletcher, told them they didn't need flood insurance.
Senter rejected the Leonards' claim that the agent's alleged assurances make Nationwide liable for damage from both wind and water. Paul Leonard mistakenly inferred that his policy covered water damage, the judge ruled.
"Fletcher did not materially misrepresent the terms of the Nationwide homeowners policy to the Leonards, and Fletcher did not make any statements which could be reasonably understood to alter the terms of the Nationwide policy," Senter wrote.
The couple's lawsuit was the first among hundreds of Katrina insurance cases to be tried since the storm slammed into the Gulf Coast nearly a year ago, demolishing tens of thousands of homes.
Senter presided over an eight-day trial without a jury last month. He is hearing virtually all the Katrina insurance cases in Mississippi, so his ruling will be scrutinized by thousands of Gulf Coast homeowners as well as the nation's top insurers.
CNR - CanArgo Energy Corporation: Operations Update
Tuesday August 15, 11:20 pm ET
DENVER, COLORADO--(MARKET WIRE)--Aug 15, 2006 -- CanArgo Energy Corporation ("CanArgo" or the "Company") (AMEX:CNR - News)(OSE: CNR) today gave an operations update ahead of its presentation at the Eleventh Enercom Oil & Gas Conference.
Georgia
M12 Appraisal
On the Manavi M12 appraisal well the 9 5/8" casing has been successfully run at a depth of 13,514 feet (4,120 metres). Biostratigraphic analysis indicates that the casing has been set in the Lower Eocene sequence, a claystone sequence which forms part of the cap rock to the main Cretaceous reservoir, which is currently prognosed at a depth of 14,300 feet (4,359 metres). CanArgo believes that this is the deepest ever that a 9 5/8" casing string has been set in Georgia. This means that the prognosed reservoir section can be drilled in an 8 1/2" hole which should ensure the largest hole size possible through the reservoir, leading to an optimal test of the well. This was largely the reason for utilising the modern Saipem rig to drill this well, this rig being able to utilise an oil-based mud system and being equipped with a "top-drive". The next section of the hole will be drilled using water-based mud to minimise mud losses in the reservoir section, and to allow the identification of hydrocarbon shows. Cementing of the casing and conversion of the mud system should take approximately 10 days. The Cretaceous interval is prognosed to be some 1,000 feet (300 metres) thick, and to date no oil-water contact has been observed on electric logs in previous wells.
The M12 well is an appraisal of the Manavi M11 oil discovery which flowed oil at observed high rates from the Cretaceous reservoir interval in what is mapped as a large prospect and which could be a substantial new oilfield.
Kazakhstan
Work continues on the development of the Kyzyloi Gas Field. Orders have now been placed for the pipeline and compressors for the development, and first gas is currently planned for the Spring of 2007. A five well exploration/appraisal program is planned before the end of this year. The proposed Spin-Out of the Kazakhstan assets is still planned for later this year, subject to pricing and market conditions.
Vincent McDonnell, President of the Corporation, commented "I am extremely pleased that we have successfully run casing at this depth on the Manavi 12 well. This is a significant drilling success which should enable us to complete the well and, subject to encountering hydrocarbons, produce significant quantities of oil from the well, and obtain the maximum flow rates from this regionally prolific reservoir".
The presentation will be held at 11:35 am Central Mountain Time (19:35 pm Oslo time) on Thursday August 17th, 2006 and will be Webcast. The Webcast can be accessed at the following link:
http://www.investorcalendar.com/CEPage.asp?ID=107626
CanArgo is an independent oil and gas exploration and production company with its oil and gas operations currently located in Georgia and the Republic of Kazakhstan.
The matters discussed in this press release include forward-looking statements, which are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward-looking statements. Such risks, uncertainties and other factors include the uncertainties inherent in oil and gas development and production activities, the effect of actions by third parties including government officials, fluctuations in world oil prices and other risks detailed in the Company's reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission. The forward-looking statements are intended to help shareholders and others assess the Company's business prospects and should be considered together with all information available. They are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company cannot give assurance that the results will be attained.
Contact:
Contacts:
CanArgo Energy Corporation - USA
Sabin Rossi
VP External Affairs and Investor Relations
(617) 669-1841
(617) 973-6406 (FAX)
Email: sabin@canargo.com
Gambit H&K AS - NORWAY
Regina Jarstein
+47 (22) 048206
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Source: CanArgo Energy Corporation
DBGFE - De Beira Announces the Appointment of an Exploration Manager and the Commencement of Drilling at the Minanca Mining Project in the El Oro Province of Ecuador
Wednesday August 16, 3:51 am ET
PERTH, WESTERN AUSTRALIA--(MARKET WIRE)--Aug 16, 2006 -- DE BEIRA GOLDFIELDS INC. ("DE BEIRA" or the "Company") (OTC BB:DBGFE.OB - News)(FWB: D1Q)(WKN: A0JDS0): De Beira Goldfields is pleased to announce that it has appointed an exploration manager, Mr Julian McDermott, to the large poly metallic Minanca mining property located in the highly productive Portovelo-Zaruma gold belt in the El Oro province of Ecuador. Mr McDermott will oversee the mining and exploration activities for the project, with the objective of increasing the current levels of production. Mr McDermott will also supervise exploration including drilling to increase the resource base to include the mineralised porphyry and stockwork systems which host the high grade veins currently in production.
De Beira is currently reviewing all geological data within the underground mining operations and dewatering the existing development. Currently the mine is clear to the third level, and will be clear to fifth level in the near future.
Recent sampling of the underground workings and surface grab and trench samples has confirmed the stock work and the porphyry system to host significant gold, silver and zinc mineralisation.
As a result of the encouraging sampling results, De Beira has prepared drill sites for an initial 6,000m drilling program to test the potential of the large mineralised stock work system, and to confirm the previous resource calculations. Drilling is scheduled to begin around the 25 August and De Beira is confident of intersecting significant zones of mineralisation early in the drilling program.
The Portovelo region is host to a 15 km long system of poly metallic epithermal veins. Locally the vein system covers an area approximately 7 km long by 1 km wide, with mineralisation hosted in highly fractured host rocks with quartz and carbonate filling.
The 45-hectare property has been continuously mined since 1845 and mining in the region dates back to the 1600's. Mineralisation on the Minanca property includes gold, silver, copper, zinc and lead occurring in quartz calcite veins within an andesite host rock. The mine has 3 principal veins, varying in widths from 0.6m to 5m and length between 500m and 800m, of which only the Abundancia vein is the focus of current mining activity. This vein system is postulated as originating from dilational fissure openings resulting from the strike slip fault movements associated with the Portovelo Caldera. Numerous stockwork veinlets separate the major veins, and these stockworks are currently undergoing evaluation for an open pit-mining scenario.
Previous production from the mine since 1905 has been estimated at 4.5 million ounces of gold, the bulk of which was mined by SADCO (South American Development Company) between 1895 and 1950. SADCO total production for this period was 7.6 million tonnes at a cut off of 14.4 g/t gold for a total production of 3.6 million ounces of gold and 12 million ounces of silver.
Current underground development consists of 1800m of rail on 3 levels, 400m of drives, a 90m shaft and a 60m shaft. Previous workers developed the mine down to 300m, however current operations are only focussing on the 10m, 20m and 30m levels. In addition there are 14 levels above the principal adit and 30 levels below.
The processing plant is located 3km south of the mine, and is currently utilising 2 ball mills, flotation cells, carbon absorption and electrolysis. The current through put is approximately 5,000 tonnes of ore per month though De Beira intends to increase this to 10,000 tonnes per month in the near future.
No drilling has been carried out in recent times. As part of the future development strategy De Beira intends to fast track drill target definition to test the further depth potential of the current vein systems and simultaneously examine the potential of open pit mining the stockworks. De Beira is currently working on a JORC compliant resource estimate.
DE BEIRA GOLDFIELDS INC.
Reg Gillard, President
About DE BEIRA GOLDFIELDS INC.
DE BEIRA is a Nevada based mineral exploration company. The Company has recently initiated a new program to evaluate undervalued assets for potential addition to its mineral claim portfolio.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains statements that plan for or anticipate the future, called "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of those terms and other comparable terminology.
These forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements about: our market opportunity; revenue generation; our strategies; competition; expected activities and expenditures as we pursue our business plan; the adequacy of our available cash resources; our ability to acquire properties on commercially viable terms; challenges to our title to our properties; operating or technical difficulties in connection with our exploration and development activities; currency fluctuations; fluctuating market prices for precious and base medals; the speculative nature of precious and base medals exploration and development activities; environmental risks and hazards; governmental regulations; and conduct of operations in politically and economically less developed areas of the world.
Many of these contingencies and uncertainties can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to our most recent annual report on Form 10KSB and other filings made by us with the United States Securities and Exchange Commission for more detailed discussions of the contingencies and uncertainties enumerated above and the factors underlying the forward-looking statements. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities & Exchange Commission at http://www.sec.gov.
We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.
This press release is for informational purposes only and is not and should not be construed as an offer to solicit, buy, or sell any security.
Contact:
Contacts:
De Beira Goldfields Inc.
Reg Gillard
Director
+61 (08) 9240 6717
+61 (08) 9240 2406 (FAX)
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Source: De Beira Goldfields Inc.
PMCS - PMC-Sierra's Multi-Service Processor(R) Family Selected by Advantage Century Telecommunication Corporation for Its VoIP Customer Premises Equipment Portfolio
Wednesday August 16, 5:00 am ET
PMC-Sierra's MSP Products Enable Faster Time to Market with Higher-Performance, Carrier-Class CPE Solutions
SANTA CLARA, Calif.--(BUSINESS WIRE)--Aug. 16, 2006--PMC-Sierra, Inc. (Nasdaq:PMCS - News) today announced that Advantage Century Telecommunication Corp. (ACT) has selected the MSP4120 and MSP4200 Multi-Service Processor® (MSP) devices for its Voice over Internet Protocol (VoIP) Customer Premises Equipment (CPE) solutions.
ACT's VoIP solutions provide the full range of features that Service Providers demand for value-added and cost-effective IP telephony services. ACT's VoIP family includes Analog Telephone Adapters (ATA), VoIP Routers and Wi-Fi VoIP Ethernet Gateways. PMC-Sierra's MSP4120 and MSP4200 are at the heart of these ACT solutions, providing both voice and routing functions.
The MSP4120 and MSP4200 VoIP router-on-a-chip products have a highly integrated architecture that combines a DSP for processing up to four voice channels together with a MIPS32 4Kec core for high-performance routing and control functions. The MSP4200 offers the additional benefit of a PCI interface to enable the inclusion of 802.11 Wi-Fi subsystems to create Wi-Fi access points.
"PMC-Sierra's MSP4120 and MSP4200 router-on-a-chip solutions excel at providing the enhanced performance and cost points necessary for us to meet our customers' carrier-class VoIP solutions needs," said Kevin Lai, product manager at ACT. "PMC-Sierra demonstrated a solid understanding of our requirements by providing a comprehensive set of voice processing functions, codecs, and turn-key Linux-based router software. This, coupled together with exceptional support for the localized voice features required by carriers and ISPs, enabled us to get to market faster with a high-quality product."
"We are pleased to be working with ACT on their flagship VoIP product family," said Dino Bekis, vice president of marketing and applications for PMC-Sierra's Communication Products Division. "PMC-Sierra's continued investments in Residential Gateway and digital home technologies allow us to bring solutions to our customers that meet current market requirements, while enabling additional services that expand their market opportunities."
The MSP4120 and MSP4200 are the most integrated, high-performance products in the MSP family of VoIP products. The family includes the MSP2015 voice-on-MIPS processor for single-channel ATAs and IP Phones as well as the MSP2020, which integrates a hardware security accelerator for enhanced Secure IP Phone and ATA applications. All devices in the MSP family support PMC-Sierra's Voice Processing Module firmware that provides the necessary VoIP functions for high-quality VoIP services, including vocoders (G.711, G.726, G.729, G.723 and iLBC), DTMF detection/generation/relay functions, G.168 Line Echo Cancellation and T.38 Fax Relay.
About PMC-Sierra's MSP Family
PMC-Sierra's MSP devices are designed to meet the performance, QoS and security needs of VoIP-enabled communications equipment used within the customer premises. This family adds PSTN-quality VoIP capabilities to Residential and SOHO broadband gateways, ATAs and small enterprise-class IP-based PBXs. These devices offer field-proven voice firmware, superior packet-loss tolerance and latency, high-speed data performance, integrated security features (DES, 3DES, SHA-1 and MD5), standard interfaces (Ethernet, SLIC and SLAC), and common platform solutions from one to eight channels. PMC-Sierra's VoIP solutions enable voice, video and data convergence in current and emerging home and enterprise broadband applications. For more information visit www.pmc-sierra.com/voip.
About PMC-Sierra
PMC-Sierra(TM) is a leading provider of broadband communications and storage semiconductors for metro, access, fiber to the home, wireless infrastructure, storage, laser printers and customer premises equipment. PMC-Sierra offers worldwide technical and sales support, including a network of offices throughout North America, Europe, Israel and Asia. The company is publicly traded on the NASDAQ Stock Market under the PMCS symbol and is included in the S&P 500 Index. For more information, visit www.pmc-sierra.com.
About Advantage Century Telecommunication Corp.
Advantage Century Telecommunication Corporation, established in 1998, is a leading Voice over Internet Protocol (VoIP) solution provider for customer premises equipment (CPE) with its operations offices in Taipei. ACT specializes and focuses on design, R&D, manufacturing, marketing and sales as well as OEM/ODM projects. With a professional research and development team that has over ten-year experience in the Telecommunication and Datacommunication industry, ACT VoIP products combine the reliability and high quality of traditional voice communication with flexible and extensible Internet protocol and packet transmission. For more information, visit the company's Website at www.act-tel.com.tw.
Resources to Extend Your Product Knowledge and Understanding
PMC-Sierra VoIP Products: www.pmc-sierra.com/voip
PMC-Sierra New Products:
www.pmc-sierra.com/products/newProducts.html
PMC-Sierra Webinars: www.pmc-sierra.com/webinars
© Copyright PMC-Sierra, Inc. 2006. All rights reserved. PMC and Multi-Service Processor are registered trademarks of PMC-Sierra, Inc. in the United States and other countries. PMC-SIERRA, PMCS and "Thinking You can Build On" are trademarks of PMC-Sierra, Inc. Other product and company names mentioned herein may be trademarks of their respective owners.
Contact:
PMC-Sierra, Inc.
Susan Shaw, 604-415-6031
susan_shaw@pmc-sierra.com
or
Christian Bateman, 415-882-9494 (US Editorial)
batemanc@loomisgroup.com
or
Jo Soo, +011 852-2837-4744 (China Editorial)
jo.soo@edelman.com
or
Toshiyuki Okazaki, +011 81-422-50-1280 (Japan Editorial)
okazakit@loomisgroup.com
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Source: PMC-Sierra, Inc.
RPTN - Optical Entertainment Network Selects Raptor Networks Technology, Inc. as Core IP Switching Provider for Houston Converged Services Launch
Wednesday August 16, 5:30 am ET
SANTA ANA, Calif., Aug. 16 /PRNewswire-FirstCall/ -- Raptor Networks Technology, Inc. (OTC Bulletin Board: RPTN - News) is pleased to announce that it has been selected by Optical Entertainment Network as their core switching provider for OEN's new "triple-play" service FISION(TM). A purchase order for the commissioning stack of four ER-1010 network switches was received, with priced options for an additional 500 ER-1010s.
(Logo: http://www.newscom.com/cgi-bin/prnh/20040429/RPTNLOGO )
Mr. Allen Easty, Chief Technology Officer of Optical Entertainment Network, stated, "Optical Entertainment Network seeks to redefine the value proposition of bundled digital services in recognition of what today's technologies are able to provide. Raptor Networks' unique 'distributed core' switching technologies will play a key role in OEN's ability to provide the highest quality of service, reliability and HDTV channel count while affording our customers unprecedented cost savings."
Tom Wittenschlaeger, Chief Executive Officer of Raptor Networks, noted, "We are pleased to displace Extreme Networks, a competitor many times our size, in a high performance, HD video distribution application by one of the most innovative bundled digital services providers as their network switch of choice. Raptor's ability to deliver extraordinary transport performance at a fraction of the price of our competitors is precisely the value proposition that forward-thinking new service providers like Optical Entertainment Network can use to their competitive advantage."
About Raptor Networks Technology, Inc.
Raptor Networks Technology, Inc. provides standards based modular switching technologies that benefit networks which provide newer services such as video, VoIP, high speed storage and other latency sensitive network applications. This patent-pending "Distributed Network Switching Technology" blurs the distinction between core switching and edge switching, enabling network build-outs and performance upgrades of traditional chassis-based installations in a highly cost effective manner. Management believes that the unique advantage Raptor provides is data transport at wire speed (the maximum speed at which the equipment is built to operate), providing the highest density 10 Gigabit wire speed offering currently on the market, with the versatility to run the most advanced new data applications.
For additional information please see www.raptor-networks.com.
About FISION
FISION is scheduled to launch in Houston, Texas, the 10th largest Television market in the US. In addition to delivering over 400 channels of entertainment programming, FISION will deliver High-Speed Internet at unprecedented speeds of 10 to 100 Mbps per subscriber and innovative applications such as telemedicine, video conferencing and home security. FISION will also provide IP Voice services including local and long distance services, to deliver on the promise of true convergence from one company. More information on FISION can be found at www.getfision.com for residents of Houston, Texas.
About Optical Entertainment Network
Optical Entertainment Network is a Houston, Texas based company providing the first major market deployment of Video, Internet and Voice to residential and commercial customers over a system specifically designed to optimize fiber-to-the-home (FTTH) technology. OEN has signed the largest number of IPTV carriage agreements to date, acquired directly with programming networks. The company is a platinum member of the FTTH Council. More information can be found at the company's website at www.fision.net.
For additional information on OEN and FISION:
Cathy Clarke
CNC Associates
cathy@cncassocs.com
(617) 527-2089
Safe Harbor Statement
The statements in this release relating to future product availability, collaboration and partnership, and positive direction are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Some or all of the aspects anticipated by these forward-looking statements may not, in fact, occur. Factors that could cause or contribute to such differences include, but are not limited to, contractual difficulties, demand for Raptor Networks' products, the future market price of RPTN common stock and the Company's ability to obtain necessary future financing.
Contacts:
Raptor Networks Technology, Inc.
Tom Wittenschlaeger/Bob Van Leyen
Tel: 949-623-9300
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Source: Raptor Networks Technology, Inc.
CGT - CAE awarded C$50 million contract to upgrade UK Royal Navy Merlin helicopter training systems
Wednesday August 16, 6:00 am ET
MONTREAL, Aug. 16 /PRNewswire-FirstCall/ - (NYSE: CGT - News; TSX: CAE - News) - CAE has been awarded a contract valued at approximately C$50 million by Lockheed Martin UK to perform a range of upgrades on the CAE-built UK Royal Navy's EH101 Merlin Training System.
As part of the Merlin Capability Sustainment Programme (MCSP), CAE will upgrade the Merlin Cockpit Dynamic Simulator (full-mission simulator), Cockpit Procedures Trainer (CPT), and two Rear Crew Trainers (RCTs) stationed at Royal Navy Air Station (RNAS) Culdrose. The required concurrency upgrades to the Merlin Training System are the result of upgrades planned for the Royal Navy's fleet of EH101 Merlin helicopters, including a new avionics suite and updated communications/navigation systems.
"We are pleased to continue our long-standing partnership with Lockheed Martin and the Royal Navy on developing the state-of-the-art EH101 Merlin training systems required for one of the world's most capable maritime patrol helicopters," said Marc Parent, CAE's Group President, Simulation Products and Military Training & Services. "CAE is unique in its ability to offer high-fidelity simulation solutions for helicopter aircrews as well as tactical rear crews, and the Merlin Training System represents some of the most advanced and sophisticated simulation technology we have developed."
Under subcontract to Lockheed Martin UK, CAE designed and manufactured the five training devices for the Merlin Training System. The Merlin CDS and CPT are used for training the flight crews in operations such as ship deck landing and cockpit familiarization. The Merlin CDS is a full-motion simulator featuring a 24-foot dome display that surrounds the flight crew in a realistic maritime environment. The three Merlin RCTs, two of which CAE is under contract to upgrade, are advanced anti-submarine warfare training devices used to train the tactical crews in the operation of all avionics, sensors, and software systems in the aircraft. All five training devices can be networked to provide a fully immersive and realistic mission training environment for the Royal Navy's EH101 Merlin operators. The contract includes an additional option to upgrade the third Merlin RCT in the future.
The MCSP led by prime contractor Lockheed Martin UK will see the Royal Navy's current fleet of 30 EH101 helicopters, with an option for eight additional aircraft, upgraded with new avionics and mission systems. The first upgraded Merlin helicopter is scheduled to enter service with the Royal Navy in 2013 with features such as an open system architecture, large area flat panel displays, and enhanced radar and sonar capabilities.
CAE is a world leader in providing simulation and modelling technologies, and integrated training services to the civil aviation industry and defence forces around the globe. We design, manufacture and supply simulation equipment and offer training and services. This includes integrated modelling, simulation and training solutions for commercial airlines, business aircraft operators, aircraft manufacturers and military organizations and a global network of training centres for pilots, and in some instances, cabin crew and maintenance workers.
With annual revenues of over C$1 billion, CAE operates in 19 countries around the world. CAE has sold nearly 700 simulators and training devices to airlines, aircraft manufacturers, training centres and defence forces for air and ground purposes in more than 40 countries. We have over 100 full-flight simulators in more than 20 aviation training centres, serving approximately 3,500 airlines, aircraft operators and manufacturers across the globe. CAE licenses its simulation software to various market segments and has a professional services division assisting customers with a wide range of simulation-based needs.
A high-resolution downloadable photo of the Merlin Cockpit Dynamic Simulator (full-mission simulator) is available at www.cae.com/photos.
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Source: CAE INC.