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Ex-Exxon CEO's Massive Pension Draws Fire By STEVE QUINN,
DALLAS - A $69.7 million compensation package and $98 million pension payout to Exxon Mobil Corp.'s former chief executive and chairman Lee R. Raymond has some shareholders and economists asking, "how much is enough?"
"Some folks will ask the question, 'Is this more evidence of big oil taking an enormous windfall and retaining all the riches?'" said Mel Fugate, assistant professor for Southern Methodist University's Cox School of Business.
The Irving company has drawn criticism from politicians and economists for becoming the most profitable company in history — at consumers' expense, they say.
Exxon benefited from high oil and natural gas prices and solid demand for refined products en route to earning $36 billion last year. The company has defended its profits, saying that other industries have larger profit margins but oil companies' bottom lines stand out because they operate on a much larger scale.
Recent news of Raymond's payout and pension is stoking embers Fugate said had been starting to die out. But with gasoline prices again reaching $3 a gallon at the pump in some areas and big oil companies about to report first-quarter earnings in coming weeks, expect more fallout, economists say.
On Wednesday, Exxon reported executive compensation in a regulatory filing that showed Raymond receiving $48.5 million in salary, bonuses, incentive payments and stock awards.
His compensation package also included $21.2 million from exercising stock options, which the company stopped awarding in 2001.
His $98 million pension payout reflects 43 years of service. But he would have received nearly $17 million less had he retired just last year, according to the company's 2005 proxy statement.
In this year's proxy statement, Exxon defended the package by saying it rewards Raymond's "outstanding leadership of the business, continued strengthening of our worldwide competitive position, and continuing progress toward achieving long-range strategic goals." Raymond had been CEO since 1993 before stepping down at the end of last year.
Exxon added that Raymond's compensation is "appropriately positioned relative to CEOs of U.S.-based, integrated oil companies and other major U.S.-based corporations, particluarly in view of the long-term performance of the company and the substantial experience and expertise that Mr. Raymond has brought to the job."
Last year, Chevron Corp. Chairman and CEO David O'Reilly received a $1.55 million salary, $3.5 million bonus and $3.57 million in long-term compensation. He did not exercise any options, but owns options valued at just over $34 million, including exercisable options worth $28 million, according to Chevron's proxy.
Fugate, who specializes in executive compensation and management, said Exxon is sending a "very, very bad signal" by allowing Raymond to select the lump-sum payout.
"They are in very, very rich times, so on one hand they say, 'we can afford it,' but on the other hand they are taking an awful lot of heat because they've made too much at the expense of consumers. I'm surprised they are not being asked to justify that."
They will be at the company's shareholders meeting in Dallas on May 31. Several shareholders have placed resolutions on the agenda that, if passed, would put the clamps on some executive pay.
Shareholder Emil Rossi, author of one of the resolutions, says that although he's done well as a longtime owner of Exxon stock, he believes the executives are keeping too much for themselves.
"(Raymond) took over a good company," said Rossi, of Boonville, Calif. "He didn't bring it out from being a bad company, so his pay is clean out of reason. It's not because of his smartness."
Twice since November, big oil executives, including Raymond before his retirement, sat in Senate hearings defending their profits and deflecting accusations of gouging.
Got a cellphone? You might see NFL Draft live By Michael McCarthy, USA TODAY
Fri Apr 14, 8:06 AM ET
Some football fans will be able to watch live coverage of the 2006 NFL Draft on a new medium: their cellphones.
The NFL and Sprint are planning to offer 16 hours of live coverage from the NFL Network to more than 20 million cellphone users during the April 29-30 draft.
SPORTS ON TV: More on the NFL-Sprint deal
The 71st annual draft from Radio City Music Hall is expected to be one of the most closely watched ever, with college stars Reggie Bush, Vince Young and Matt Leinart tapped by their first pro teams.
The NFL wants fans at the grocery store, on an errand or any place with no TV to keep abreast of the action. "For the first time fans will be able to follow the draft - wherever they are," says NFL spokesman Brian McCarthy.
More than half of Sprint's direct base of 40 million customers use hand-sets capable of receiving the live feed from the NFL Network, according to Steve Gaffney, Sprint's director of sports marketing. Those users will also be able to tap into personality profiles of the top 30 projected draftees; video highlights; player interviews and six draft preview shows.
Sprint won the rights as part of its estimated $600 million, 5-year agreement last year to become the NFL's official wireless telecommunications partner. Despite broadcasting the draft for the last 27 years, ESPN will not be able to offer its own live coverage to Mobile ESPN cellphone users. ESPN will offer 17 hours of live TV coverage over two days, anchored by Chris Berman
I have the updates and I am having no problems
Fla.'s Newest Problem: Burmese Pythons By ANDREA FANTA, Associated Press Writer
Wed Apr 12, 7:14 PM ET
TALLAHASSEE, Fla. - Florida's newest problem is roughly the circumference of a telephone pole. It has no toes. It snacks on rabbits. It's the Burmese python. And in South Florida, the problem is growing in number and in feet.
"Last year, we caught 95 pythons," said Skip Snow, a biologist with Florida Everglades National Park. That's not counting the 13-footer that exploded after trying to eat an alligator, or two others that got loose and ate a Siamese cat and a turkey.
To keep the problem from sliding further out of control, state Rep. Ralph Poppell, R-Titusville, wants to add Burmese pythons to Florida's list of regulated reptiles. His bill (HB 1459) could force python buyers to complete state training, buy a license and face jail time if they let their snakes loose.
The giant, unwanted snakes take other animals' homes and prey on fragile native species, Snow said. They're also the products of impulse shopping gone very wrong.
"People buy them when they're small," he said. "I've seen them as cheap as 20 bucks in flea markets."
The inch-long hatchlings start off cute. Then they hit puberty.
"By the end of the year, they're seven feet long," Snow said. "By the end of two years, they're 10 feet long. And that's more snake than anyone can handle."
Overwhelmed with pets that eat more than they do, python owners decide to release their snakes into the wild. It's so common in the Everglades, Snow's had to start a python hot line.
And there the Asian natives breed and find a comfortable home in the Everglades' water, heat and vegetation. They have no predators.
Pythons have also discovered suburbia, said Capt. Ernie Jillson, who helps run the Miami-Dade County fire department's snake squad. They catch around 20 pythons a year.
Three years ago, a 15-footer stopped traffic when he spread himself across a four-lane road. Last year, another 15-footer gave a 60-year-old woman quite the jolt when she walked outside to find the snake sunbathing on her patio. And rescue workers had to save a cat from the 10-foot python that was chasing it around the backyard pool.
Lawmaker Poppell says he's no snake lover and doesn't understand people's fascination with the slithery creatures.
"How can you want something for a pet that looks at you when it's hungry?" he said. "I don't want something to look at me as food, I'd rather they (pets) come to me for food."
John Lacorte, a Flagler County teacher, disagrees. His students clamor to earn their way into his class's "snake crew," where they clean, handle and care for 27 nonvenemous snakes — including Grave Digger, a 3-foot albino Burmese python named after a character in Shakespeare's Hamlet.
"We have Macbeth, King Lear, Romeo and Juliet. It's like a badge of honor for the kids" to get snake duty, Lacorte said. "They're not gross. They're not oily. They're as dry as putting on a leather jacket. They're one of the most timid creatures that you'll ever see on this earth. Some kids find them really cool; we've never had anyone that came in and walked out afraid of snakes."
They might disagree on pet choices, but Poppell and Lacorte — as well at least one environmental group and one snake breeder — agree on this point: Florida must get around this problem before it gets around, well, Floridians.
"They aren't known to hunt people, but they are known to kill people," Snow said, citing cases where python owners made mistakes while handling their pets. In Naples, one driver crashed his PT Cruiser into a barricade when the pet snake he'd wrapped around his neck bit him. He jumped out of the car, wrestled with the snake and then drove off.
So far, Snow's python problems have only involved other animals, but he fears the day a driving visitor mistakes a sunbathing snake for a log, swerves and hits a tree.
Plus, pythons may be nonvenemous, "but they have a mouthful of teeth," he said.
Even without human encounters, Snow has enough to deal with. When they're not sunbathing, pythons are hunting precious species like wading birds, cotton rats and even bobcats.
When they're not eating, pythons are taking homes away from other hole and log dwellers in the park, or spreading diseases that could kill native snakes.
And they're breeding.
Around the time Poppell introduced his bill this spring, the snakes' mating season ended. Now, as the bill awaits at least one more committee vote in the House, females are nesting.
Should Poppell's proposal become law by early May, Snow said, it will be just in time to see the new babies hatch.
EGVI
Press Release Source: Energy Vision International
Energy Vision International Subsidiary American Geothermal Signs New Contract on The Island on Lake Travis
Wednesday April 12, 11:28 am ET
OXFORD, Miss., April 12, 2006 (PRIMEZONE) -- Energy Vision International (Other OTC:EGVI.PK - News), a rapidly growing diversified energy company, is awarded additional new business on the Lake Travis development.
American Geothermal signed the contract this week to proceed with the mechanical design and engineering work on the common areas of 'The Island on Lake Travis' luxury condominium development. The area comprises 20,000 square feet and will provide heating and cooling for the indoor pool, health club, locker rooms and spa. The contract also includes the second floor lounge area, full bar, restaurant and meeting rooms as well as a third floor private penthouse.
American Geothermal was originally awarded the contract to install the DeMarco Energy Miser heating and cooling system in 80 of the 212 condominiums. The principal developers have been highly impressed with the reliability of the Energy Miser system and as a result awarded American Geothermal significantly more business than originally quoted. These condominiums enjoy the benefit of lowering heating and cooling bills by up to 70% versus traditional HVAC systems.
Victor DeMarco CEO of American Geothermal commented, ``We reasonably expect `The Island' development will continue benefiting the company long after we complete the installations.''
Chairman of EVI, Anthony Welch added, ``The investment community can easily appreciate our rapid growth path. The Lake Travis project is a powerful installation example and we expect many more similar projects in the months to come. We encourage investors to examine our stated objectives and our results delivered.''
About the Company
Energy Vision International grows through energy-related acquisitions, marketing its patented geothermal water-air heating/cooling systems, and sales of energy conservation solutions. The company has three subsidiaries at present with plans for more.
The company's subsidiary, DeMarco Energy Systems of America, Inc. (http://www.demarcoenergy.com), has geothermal installations in Oregon, Pennsylvania, Washington, Montana, South Dakota, Mississippi, California and Texas. EVI's primary focus is to provide energy efficient technologies to commercial and institutional markets through the application of the DeMarco 'Systems' patents and other acquired technologies. For more information, visit http://www.energyvisionintl.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Energy Vision International
Investor Relations
(662) 236-5928
ir@energyvisionintl.com
Press Release Source: Energy Vision International
Energy Vision International Subsidiary American Geothermal Signs New Contract on The Island on Lake Travis
Wednesday April 12, 11:28 am ET
OXFORD, Miss., April 12, 2006 (PRIMEZONE) -- Energy Vision International (Other OTC:EGVI.PK - News), a rapidly growing diversified energy company, is awarded additional new business on the Lake Travis development.
American Geothermal signed the contract this week to proceed with the mechanical design and engineering work on the common areas of 'The Island on Lake Travis' luxury condominium development. The area comprises 20,000 square feet and will provide heating and cooling for the indoor pool, health club, locker rooms and spa. The contract also includes the second floor lounge area, full bar, restaurant and meeting rooms as well as a third floor private penthouse.
American Geothermal was originally awarded the contract to install the DeMarco Energy Miser heating and cooling system in 80 of the 212 condominiums. The principal developers have been highly impressed with the reliability of the Energy Miser system and as a result awarded American Geothermal significantly more business than originally quoted. These condominiums enjoy the benefit of lowering heating and cooling bills by up to 70% versus traditional HVAC systems.
Victor DeMarco CEO of American Geothermal commented, ``We reasonably expect `The Island' development will continue benefiting the company long after we complete the installations.''
Chairman of EVI, Anthony Welch added, ``The investment community can easily appreciate our rapid growth path. The Lake Travis project is a powerful installation example and we expect many more similar projects in the months to come. We encourage investors to examine our stated objectives and our results delivered.''
About the Company
Energy Vision International grows through energy-related acquisitions, marketing its patented geothermal water-air heating/cooling systems, and sales of energy conservation solutions. The company has three subsidiaries at present with plans for more.
The company's subsidiary, DeMarco Energy Systems of America, Inc. (http://www.demarcoenergy.com), has geothermal installations in Oregon, Pennsylvania, Washington, Montana, South Dakota, Mississippi, California and Texas. EVI's primary focus is to provide energy efficient technologies to commercial and institutional markets through the application of the DeMarco 'Systems' patents and other acquired technologies. For more information, visit http://www.energyvisionintl.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Energy Vision International
Investor Relations
(662) 236-5928
ir@energyvisionintl.com
No DNA
DA: Investigation of Duke lacrosse team will continue By Kelly Whiteside, USA TODAY
Wed Apr 12, 7:06 AM ET
There were outbreaks of applause and some jeers in the gym at North Carolina Central University on Tuesday but certainly no sporting event. Instead there was a detailed discussion of DNA, racial bias and pointed criticism of the media, issues that have divided this community after allegations by a North Carolina Central female student of a rape and assault by members of the Duke men's lacrosse team.
The forum, held on the basketball court where the Eagles play, featured five panelists, including the Durham County prosecutor investigating the case. Several hundred North Carolina Central students filled the maroon and gray stands at the historically black university a few miles from Duke.
Durham County District Attorney Michael Nifong told the group he would continue a criminal investigation despite defense attorney assertions that lack of DNA evidence from tests returned Monday shows their clients are innocent. According to Nifong, in 75% to 80% of sexual assault cases, there is no DNA evidence.
"A lot has been said in the press, particularly by some attorneys ... that this case should go away," Nifong said. "I hope you will understand that my presence here means that this case is not going away."
"DNA results can often be helpful, but I've been doing this a long time, and for most of the years I've been doing this, we had to deal with sexual assault cases the good old-fashioned way. Witnesses got on the stand and told what happened to them," Nifong said. "The fact is anytime you have a victim who can identify her assailant, then what you have is a case a judge must let go to the jury. In this situation, I would suspect that a jury will get to evaluate the evidence."
Nifong did not elaborate on the type of DNA tests to be completed, saying, "There are many types of DNA tests that can be done. It might surprise you, or might not surprise you, that we're still waiting for some DNA tests that have not been done." Phone calls to three defense attorneys Tuesday were not returned.
No charges have been filed. But while answering a question from the crowd on why no arrests have been made, Nifong for the first time said the woman was able only last week to identify any of the alleged attackers from March 13. He also told a questioner she was wrong when she asserted three suspects had been identified.
Students at the forum, some visibly angry, were especially critical of the media.
"I'm angry at two groups, and the Duke lacrosse team isn't one of them," said North Carolina Central senior Shawn Cunningham, a political science/criminal justice major. "I feel sorry and pity for them.
"Who I'm angry with first of all are those who choose to blame the victim. (Applause.) The second group I'm also angry with is all these people with cameras and all these people with notebooks, because the press has disrespected this young lady. (More applause.) They have minimized my sister to a stripper and an exotic dancer. ... You don't identify her as a mother, you don't identify her as a student, you don't identify her as a woman." (Standing ovation.)
Accusations from the woman, who was hired with another woman to perform as exotic dancers at a team party, have led to a string of emotionally charged events at Duke, including protests, the suspension from school of one lacrosse athlete for a vulgar e-mail, the resignation of the coach and the cancellation of the team's season.
Emotions have run high on the N.C. Central campus as well. Tolulope Omokaiye, a senior, drew loud applause when she told the forum crowd, "We all know that if this happened at Central and the young lady was from another school or another persuasion the outcome would have been different; they would have been in jail."
Nifong quickly responded to Omokaiye's contention.
"Certainly I have heard the criticism that if the situation were reversed, it's usually said that if this was a white girl and the focus was on the N.C. Central basketball team, they would all be in jail right now, and I understand that is a sentiment in the community, but I just want you to know, that's not the way I conduct business," Nifong said.
The five panelists at the forum included Nifong, the mayor of Durham, a city councilman and representatives of student governments from Duke and NCCU. Duke student body President Jesse Longoria encouraged a stronger relationship between the schools and said everyone should wait for the investigation to play out.
Near the end of the forum, NCCU chancellor James H. Ammons, who moderated, reminded students that classes were about to resume and that the session would end in 10 minutes. The discussion, however, is sure to continue. As students left the gym, some reached for their cellphones to spread the word of what had been said.
Man Gets $218 Trillion Phone Bill Mon Apr 10, 7:37 PM ET
KUALA LUMPUR, Malaysia - A Malaysian man said he nearly fainted when he recieved a $218 trillion phone bill and was ordered to pay up within 10 days or face prosecution, a newspaper reported Monday.
Yahaya Wahab said he disconnected his late father's phone line in January after he died and settled the 84 ringgit ($23) bill, the New Straits Times reported.
But Telekom Malaysia later sent him a 806,400,000,000,000.01 ringgit ($218 trillion) bill for recent telephone calls along with orders to settle within 10 days or face legal proceedings, the newspaper reported.
It wasn't clear whether the bill was a mistake, or if Yahaya's father's phone line was used illegally after after his death.
"If the company wants to seek legal action as mentioned in the letter, I'm ready to face it," the paper quoted Yahaya as saying. "In fact, I can't wait to face it," he said.
Yahaya, from northern Kedah state, received a notice from the company's debt-collection agency in early April, the paper said. Yahaya said he nearly fainted when he saw the new bill.
Government-linked Telekom Malaysia Bhd. is the country's largest telecommunications company.
A company official, who declined to be identified as she was not authorized to speak to the media, said Telekom Malaysia was aware of Yahaya's case and would address it. She did not provide further details.
Press Release Source: Energy Vision International
Energy Vision International to Host Geothermal and Energy Technology Summit in United Kingdom
Monday April 10, 12:25 pm ET
OXFORD, Miss., April 10, 2006 (PRIMEZONE) -- Energy Vision International (Other OTC:EGVI.PK - News), a rapidly growing diversified energy company announced today it is to host an energy conservation and geothermal summit in the United Kingdom.
ADVERTISEMENT
The company's international business development subsidiary, EVI UK Ltd., will host a technology and business development summit in Cambridge, England on April 25th to present the Company's patented DeMarco Energy Miser heating and cooling system. The attendees will comprise of Energy Consultants, Mechanical Engineers, Representatives from Mitsubishi Europe, Architects and senior management from EVI UK's principal heating-cooling systems engineers and installation teams.
Energy Vision's subsidiary, American Geothermal will be represented by its CEO Victor DeMarco. He will deliver a detailed presentation on geothermal technology and associated benefits.
The global energy crisis receives increasing coverage in the European press with geothermal heat pump technology promoted as a leading solution energy concerns. The demand for, and recognition of our powerful solutions and technologies is expected to grow more than ever before.
Chairman of Energy Vision International, Anthony Welch added: ``We continue to promote our technology and solutions to industry professionals such as the calibre of those assembled in the U.K.. We enter an exciting phase of interest in our company and our technologies as global demand for energy continues to rise.''
About the Company
Energy Vision International grows through energy-related acquisitions, marketing its patented geothermal water-air heating/cooling systems, and sales of energy conservation solutions. The company has two subsidiaries at present with plans for more.
The company's subsidiary, DeMarco Energy Systems of America, Inc. (http://www.demarcoenergy.com), has geothermal installations in Oregon, Pennsylvania, Washington, Montana, South Dakota, Mississippi, California and Texas. EVI's primary focus is to provide energy efficient technologies to commercial and institutional markets through the application of the DeMarco ``Systems'' patents and other acquired technologies. For more information, visit http://www.energyvisionintl.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Energy Vision International
Investor Relations
(662) 236-5928
ir@energyvisionintl.com
--------------------------------------------------------------------------------
Source: Energy Vision International
EGVI
Press Release Source: Energy Vision International
Energy Vision International to Host Geothermal and Energy Technology Summit in United Kingdom
Monday April 10, 12:25 pm ET
OXFORD, Miss., April 10, 2006 (PRIMEZONE) -- Energy Vision International (Other OTC:EGVI.PK - News), a rapidly growing diversified energy company announced today it is to host an energy conservation and geothermal summit in the United Kingdom.
ADVERTISEMENT
The company's international business development subsidiary, EVI UK Ltd., will host a technology and business development summit in Cambridge, England on April 25th to present the Company's patented DeMarco Energy Miser heating and cooling system. The attendees will comprise of Energy Consultants, Mechanical Engineers, Representatives from Mitsubishi Europe, Architects and senior management from EVI UK's principal heating-cooling systems engineers and installation teams.
Energy Vision's subsidiary, American Geothermal will be represented by its CEO Victor DeMarco. He will deliver a detailed presentation on geothermal technology and associated benefits.
The global energy crisis receives increasing coverage in the European press with geothermal heat pump technology promoted as a leading solution energy concerns. The demand for, and recognition of our powerful solutions and technologies is expected to grow more than ever before.
Chairman of Energy Vision International, Anthony Welch added: ``We continue to promote our technology and solutions to industry professionals such as the calibre of those assembled in the U.K.. We enter an exciting phase of interest in our company and our technologies as global demand for energy continues to rise.''
About the Company
Energy Vision International grows through energy-related acquisitions, marketing its patented geothermal water-air heating/cooling systems, and sales of energy conservation solutions. The company has two subsidiaries at present with plans for more.
The company's subsidiary, DeMarco Energy Systems of America, Inc. (http://www.demarcoenergy.com), has geothermal installations in Oregon, Pennsylvania, Washington, Montana, South Dakota, Mississippi, California and Texas. EVI's primary focus is to provide energy efficient technologies to commercial and institutional markets through the application of the DeMarco ``Systems'' patents and other acquired technologies. For more information, visit http://www.energyvisionintl.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Energy Vision International
Investor Relations
(662) 236-5928
ir@energyvisionintl.com
--------------------------------------------------------------------------------
Source: Energy Vision International
In my opinion Harvey is a good thing, but the problem is the financing with AJW Partners,they tend to dilute the price of the stock by selling there shares that they get in the financial agreement, this is why the price has dropped and will continue to struggle until this financial agreement is finished.
thats March 6th this is April 5
AJW Partners more dilution,
Form 8-K for MODERN TECHNOLOGY CORP
--------------------------------------------------------------------------------
5-Apr-2006
Entry into a Material Definitive Agreement, Creation of a Direct Financial
Item 1.01 Entry into a Material Definitive Agreement
On March 27, 2006, the Company entered into a Securities Purchase Agreement with AJW Partners, LLC, AJW Offshore, LTD., AJW Qualified Partners, LLC., and New Millennium Capital Partners, LLC. (collectively Buyers). Under the terms of the Securities Purchase Agreement, Buyers purchased 6% Convertible Secured Notes in the aggregate amount of $350,000, and Warrants to purchase shares of common stock. Please see Items 2.03 and 3.02 for more details on this transaction.
In conjunction with the Securities Purchase Agreement, the Company entered into an Intellectual Property Security Agreement and a Security Agreement, both dated March 27, 2006. The terms of these agreements, respectively, grant first priority to Buyers for intellectual property rights and security rights to property of the Company. Company entered into these agreements to guarantee payment under the terms of the Convertible Notes.
Section 2 - Financial Information
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On March 27, 2006, the Company, pursuant to a Securities Purchase Agreement of the same date, entered into Callable Secured Convertible Notes. Under the terms of the notes, the Company borrowed an aggregate of $350,000.00 from the Holders of the Notes. The Notes each bear a Maturity Date of March 27, 2009, with interest accruing on any unpaid principal at 6% per annum from the date the Notes were issued, until due and payable on the Maturity Date. Any unpaid amounts after that date bear an interest of 15% per annum. Interest is payable quarterly and shall commence at June 30, 2006. Holder has the right to convert any amounts due to Common Stock, at its discretion, at the conversion price, as set forth under the terms of the Notes. Following is a table showing the holders and amount of each Note.
HOLDER AMOUNT OF NOTE
AJW Offshore, LTD $213,500
AJW Partners, LLC $38,500
AJW Qualified Partners, LLC $94,500
New Millennium Capital Partners, LLC $3,500
Section 3 - Securities and Trading Markets
Item 3.02 Unregistered Sales of Equity Securities
On March 27, 2006, the Company entered into a Securities Purchase Agreement with the parties referenced in Item 2.03 above (Buyers). Under the terms of the Securities Purchase Agreement, the Buyers collectively purchased 6% Convertible Securities Notes in the aggregate amount of $350,000.00, convertible into common stock at the option of the Buyers, and Warrants to purchase shares of the Company's common stock. There were no underwriting fees or commissions paid in connection with this offering. Notes and Warrants were sold pursuant to Rule 505, Regulation D of the Securities Act of 1933. Securities purchased are convertible into shares of Common Stock pursuant to the terms set forth in the Callable Secured Convertible Note (attached hereto as an exhibit) and the Stock Purchase Warrant (attached hereto as an exhibit). Securities purchased hereunder are also provided Registration Rights, as set forth in the Registration Rights Agreement dated March 27, 2006, and filed herewith as an exhibit.
Section 9 - Financial Statements And Exhibits
Item 9.01 Financial Statements and Exhibits
Exhibits
EXHIBIT NO. DOCUMENTS
4.1 Callable Secured Convertible Note - AJW Offshore, LTD.
4.2 Callable Secured Convertible Note - AJW Partners, LLC.
4.3 Callable Secured Convertible Note - AJW Qualified Partners, LLC.
4.4 Callable Secured Convertible Note - New Millennium Capital
Partners, LLC.
10.1 Securities Purchase Agreement
10.2 Registration Rights Agreement
10.3 Intellectual Property Security Agreement
10.4 Security Agreement
20.1 Stock Purchase Warrant - AJW Offshore, LTD.
20.2 Stock Purchase Warrant - AJW Partners, LLC
20.3 Stock Purchase Warrant - AJW Qualified Partners, LLC
20.4 Stock Purchase Warrant - New Millennium Capital Partners
looks like its gapping BID .87 ASK .93
hope MOTG follows
I box updated lets hope they run this today
Hello Spencer lets hope this merger benefits us all, I see Harvey shot up yesterday
Yahoo is no longer showing this to be a pinksheet stock, its showing it to be an otc.bb ( ckei.pk to ckei.ob ) is this correct
Three Men Charged in 'Dungeon' Castration
CHARLOTTE, N.C. - Three men have been arrested on charges of performing castrations on apparently willing participants in a sadomasochistic "dungeon" in a rural house, authorities said Friday.
"It's extremely bizarre," District Attorney Michael Bonfoey said in a telephone interview. "It's incredible the amount of ways that people can find to run afoul of the law."
Sheriff's investigators said Richard Sciara, 61, Danny Reeves, 49, and Michael Mendez, 60, admitted performing at least eight surgeries, including castrations and testicle replacements, on six consenting clients over the past year. None of the three is licensed to practice medicine, officials said.
The suspects, all residents of the house in Haywood County, in western North Carolina, where the surgeries were allegedly performed, were arrested Thursday. They were being held on $150,000 bond each and could make their first court appearances Monday, Bonfoey said.
The sheriff's office had investigated reports of sadomasochistic acts at the house in 2004, but concluded there was nothing illegal going on because the participants appeared to be willing adults.
Renewed scrutiny, prompted by a citizen who made "strange statements" to Bonfoey, revealed that illegal surgeries were taking place, the prosecutor said.
Detectives who searched the home Wednesday found medical supplies that included scalpels, sutures, bandages, anesthetic and artificial replacement testicles, sheriff's officials said.
Also seized were videotaping equipment, and video recordings of the surgeries, sheriff's officials said. Photos and videos made at the "dungeon" were apparently featured on a locally produced sadomasochistic Web site, officials said.
"This right here beats anything I have ever seen," Sheriff Tom Alexander told the Asheville Citizen-Times, which reported that victims may have come from as far away as South America.
Each man faces 10 felony counts — five each of castration without malice and conspiracy to commit castration without malice — as well as eight misdemeanor counts of performing medical acts without a license. Each felony carries a maximum three years and three months in prison, Bonfoey said.
"Assuming that the victims consented to this — and we don't know that for sure yet — that doesn't make it a defense," Bonfoey said. "We can't have people who are not medical doctors lopping off limbs and other body parts."
I always hold my breath when I read this board, than a big sigh of relieve that nothing that I am holding showed up
Coy as a moderator myself , you can ban unruly and disruptive poster, unfortunately that is what has to happen to rude people they just don't get it .
coy I have totally changed my trading style since following this board and reading your advise, I used to marry these penny stocks and have many bag holders, I was always looking for the big payday, now if I can make just a little money that's great, and than I move on to the next pick, so far this has been my best year for profits.
thanks
Gapping up this morning IGSS .08 - .09
EGVI
Press Release Source: Energy Vision International
Energy Vision International Expands With Key Appointment
Tuesday March 28, 11:34 am ET
OXFORD, Miss., March 28, 2006 (PRIMEZONE) -- Energy Vision International (Other OTC:EGVI.PK - News), a rapidly growing diversified energy company, announced today its subsidiary American Geothermal has appointed a new member to the management team.
Tim Green was appointed to the position of General Projects Manager. He reports directly to the CEO. Tim has extensive industry experience including operating his own organization supplying HVAC components to contractors. His primary role is to manage the engineering work at the numerous sites where the DeMarco Energy Miser systems are currently being installed.
This appointment enables the CEO to focus on the increasing sales inquiries received as a result of the recent exhibit at Green Homes and Green Living trade shows.
President and CEO of American Geothermal, Victor DeMarco, added, ``The addition of Mr. Greene to the management team will improve our productivity ten-fold. He brings a vast knowledge of heating and cooling equipment and installation as well as a vast resource of associates in the air-conditioning business community.'
Anthony Welch, Chairman of Energy Vision International, commented, ``As promised to shareholders, we continue expanding our operations, sales, and management depth. Our bold objective remains: Become a world leader in our sector. We are well on our way.'
About the Company
Energy Vision International grows through energy-related acquisitions, marketing its patented geothermal water-air heating/cooling systems, and sales of energy conservation solutions. The company has two subsidiaries at present with plans for more.
The company's subsidiary, DeMarco Energy Systems of America, Inc. (http://www.demarcoenergy.com), has geothermal installations in Oregon, Pennsylvania, Washington, Montana, South Dakota, Mississippi, California and Texas. EVI's primary focus is to provide energy efficient technologies to commercial and institutional markets through the application of the DeMarco 'Systems' patents and other acquired technologies. For more information, visit http://www.energyvisionintl.com.
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Energy Vision International
Investor Relations
(662) 236-5928
ir@energyvisionintl.com
--------------------------------------------------------------------------------
Source: Energy Vision International
IGSS
Press Release Source: Image Globe Solutions Inc.
Image Globe Solutions Announces Additional Capital Leasing Initiative
Tuesday March 28, 3:57 pm ET
TORONTO--(MARKET WIRE)--Mar 28, 2006 -- Image Globe Solutions, Inc. (Other OTC:IGSS.PK - News) has amended its financing program due to the unsuccessful closing of a previously announced funding in order to meet both the capital requirements and the operational launch timetables that have been previously planned for its "LA Auto Lease(TM)" and other capital leasing opportunities.
In support of these efforts, the Company has secured an agreement with Manulease Capital Equipment Leasing Limited to market and administer an exclusive leasing program centering on a unique software package for professional organizations, such as legal, accounting, consulting and engineering firms. Introduced as a complete file management program for small to medium sized professional offices, Digital Fortress offers an economical alternative to other systems currently available.
Management believes this program will deliver a desirable profit margin similar to the Company's LA Auto Lease(TM). The Company expects to be able to begin funding the first leasing opportunities during the second quarter of 2006.
About Image Globe Solutions, Inc.
Image Globe Solutions, Inc. seeks out and selects private companies deemed to have significant growth and cash flow potential and reasonable risk profiles. Image Globe hopes to acquire these businesses at an early stage in their growth cycle and then provide needed resources to optimize their growth.
The Company also plans to utilize its resources to create additional value through the development of a number of wholly owned and operated divisions that may develop substantial revenue and increased value for the Company's shareholders. As one of its first initiatives, the Company has created a significant core business unit, LA AUTO LEASE(TM) which specializes in used vehicle leasing for consumers unable to obtain financing from traditional lending sources.
Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Image Globe Solutions, Inc, and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
FOR FURTHER INFORMATION, go to the Company's website at: www.i-globesolutions.com, or contact: Brass Bulls Corp., Investor Relations at (866) 342.2700; or Image Globe Solutions, Inc. at (905) 825-1200
Contact:
Contact:
Brass Bulls Corp.
Investor Relations
(866) 342.2700
or
Image Globe Solutions, Inc.
(905) 825-1200
--------------------------------------------------------------------------------
Source: Image Globe Solutions Inc.
OT : I agree with you 100%
I just had that same dream and it was great
IGSS showing some life .046 - .050
TRSI
Press Release Source: Trophy Resources, Inc.
Trophy Resources, Inc. Launches Two New Divisions
Monday March 27, 11:30 am ET
CARLSBAD, Calif.--(BUSINESS WIRE)--March 27, 2006--Trophy Resources, Inc (OTC:TRSI - News) announces its plan to launch two new divisions. The Company has retained Mr. Michael Iorlano as interim President to lead and coordinate the building of two divisions within Trophy Resources; Trophy Oil & Gas and Trophy Mining. The company feels that it is in a position to develop a variety of projects in both the mining and energy sectors. It is our goal to create two very successful entities under the same parent company.
It is our mandate to have a hands-on approach to each of the projects that we become involved in, and believe that this offers us the greatest opportunities for growth. As a result we are choosing projects where we own the land/leases and can dictate exploration and development according to management's goals and objectives. "My team and I have spent the last several months researching and analyzing prospective exploration and producing projects across the country and have targeted several opportunities in western Canada, Texas, Oklahoma, Kansas and the Williston Basin in the upper mid-west. These are well known, proven areas that meet company economic criteria, as well as, offer some very attractive upside potential," stated Mr. Iorlano.
The company is focusing its energy on domestic development for several reasons: first; the importance of maintaining control and accountability is our highest priority and best achieved in our own backyard. Secondly, the political and economic climates are as good today as they have ever been for exploration and development. Thirdly, large amounts of investment dollars are available for projects as demand is hitting all time highs for metals and energy resources worldwide. Forecasts indicate a continuing strong demand for metals will be fueled for years to come as India and China place increasing burdens on world market supplies.
About Trophy Resources: Trophy Resources, Inc. (http://www.Trophyoil.com) is a publicly traded company primarily dedicated to build a diverse portfolio of high value, low risk energy and mining projects. The Company goal is to evaluate profitable options, build a solid foundation through acquisition of land and/or leases and explore and develop the opportunities on these leases.
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 actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission.
Contact:
Trophy Resources, Inc.
Michael Iorlano, 760-634-0497
--------------------------------------------------------------------------------
Source: Trophy Resources, Inc.
Thanks FastEddie, its encouraging that at least he responded
thanks for the email
jgbuz@yahoo.com
thanks
Did you ever har back from him ????
Press Release Source: Energy Vision International
Energy Vision International Subsidiary, American Geothermal, Receives $40,000.00 Order for the DeMarco Energy Miser Geothermal System
Thursday March 23, 12:47 pm ET
OXFORD, Miss., March 23, 2006 (PRIMEZONE) -- Energy Vision International (Other OTC:EGVI.PK - News), a rapidly growing diversified energy company, announced today its subsidiary American Geothermal received a new order to supply and install additional DeMarco geothermal systems at ``The Island on Lake Travis'' project. This order is in addition to previously announced orders from this same customer. The company anticipates additional orders and will announce them as they occur.
The condominiums are undergoing a complete refurbishment and our subsidiary, American Geothermal, was awarded the contract to initially replace 80 existing units. The Lake Travis development is comprised of 212 luxury apartments and undergoing a phased in refurbishment program. Several apartments have been sold and are now occupied. The new owners of these condominiums will enjoy the benefit of lower heating and cooling bills by up to 70% versus traditional HVAC systems.
The successful and trouble free installation of the DeMarco Energy Miser system has impressed the lead project developers to such a degree that American Geothermal is receiving additional requests to install more units.
Anthony Welch, Chairman of Energy Vision International, added, ``Everyone dislikes the bray of bragging tongues. However, today we receive further validation of the merit and value of our geothermal systems. We have provided these solutions for over 20 years and we have yet to receive negative comment on its performance. The system performs, and performs well. We look forward to taking our solutions worldwide. The timing could not be better. Our time has come.''
About the Company
Energy Vision International grows through energy-related acquisitions, marketing its patented geothermal water-air heating/cooling systems, and sales of energy conservation solutions. The company has two subsidiaries at present with plans for more.
The company's subsidiary, DeMarco Energy Systems of America, Inc. (http://www.demarcoenergy.com), has geothermal installations in Oregon, Pennsylvania, Washington, Montana, South Dakota, Mississippi, California and Texas. EVI's primary focus is to provide energy efficient technologies to commercial and institutional markets through the application of the DeMarco ``Systems'' patents and other acquired technologies. For more information, visit http://www.energyvisionintl.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Energy Vision International
Investor Relations
662-236-5928
ir@energyvisionintl.com
--------------------------------------------------------------------------------
Source: Energy Vision International
EGVI
Press Release Source: Energy Vision International
Energy Vision International Subsidiary, American Geothermal, Receives $40,000.00 Order for the DeMarco Energy Miser Geothermal System
Thursday March 23, 12:47 pm ET
OXFORD, Miss., March 23, 2006 (PRIMEZONE) -- Energy Vision International (Other OTC:EGVI.PK - News), a rapidly growing diversified energy company, announced today its subsidiary American Geothermal received a new order to supply and install additional DeMarco geothermal systems at ``The Island on Lake Travis'' project. This order is in addition to previously announced orders from this same customer. The company anticipates additional orders and will announce them as they occur.
The condominiums are undergoing a complete refurbishment and our subsidiary, American Geothermal, was awarded the contract to initially replace 80 existing units. The Lake Travis development is comprised of 212 luxury apartments and undergoing a phased in refurbishment program. Several apartments have been sold and are now occupied. The new owners of these condominiums will enjoy the benefit of lower heating and cooling bills by up to 70% versus traditional HVAC systems.
The successful and trouble free installation of the DeMarco Energy Miser system has impressed the lead project developers to such a degree that American Geothermal is receiving additional requests to install more units.
Anthony Welch, Chairman of Energy Vision International, added, ``Everyone dislikes the bray of bragging tongues. However, today we receive further validation of the merit and value of our geothermal systems. We have provided these solutions for over 20 years and we have yet to receive negative comment on its performance. The system performs, and performs well. We look forward to taking our solutions worldwide. The timing could not be better. Our time has come.''
About the Company
Energy Vision International grows through energy-related acquisitions, marketing its patented geothermal water-air heating/cooling systems, and sales of energy conservation solutions. The company has two subsidiaries at present with plans for more.
The company's subsidiary, DeMarco Energy Systems of America, Inc. (http://www.demarcoenergy.com), has geothermal installations in Oregon, Pennsylvania, Washington, Montana, South Dakota, Mississippi, California and Texas. EVI's primary focus is to provide energy efficient technologies to commercial and institutional markets through the application of the DeMarco ``Systems'' patents and other acquired technologies. For more information, visit http://www.energyvisionintl.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Energy Vision International
Investor Relations
662-236-5928
ir@energyvisionintl.com
--------------------------------------------------------------------------------
Source: Energy Vision International
Press Release Source: Clickable Enterprises, Inc.
Google Reports a 9.4% Click-Through Rate For ClickableOil.com for February
Thursday March 23, 8:30 am ET
MOUNT VERNON, N.Y.--(BUSINESS WIRE)--March 23, 2006--Clickable Enterprises, Inc. (OTCBB:CKEI - News), the first Internet-based home heating oil company, announced today that it has reported 387 click-throughs out of 4,127 impressions for a strong 9.4% click-through rate for February through its sponsorship agreement with Google, Inc. (NASDAQ:GOOG - News), the world's largest Internet search engine.
The agreement with Google features ClickableOil.com in prominent sponsor section when a Google search is performed using well-known home heating oil keywords. The sponsor section effectively highlights the company as a low-cost fuel supplier in market areas including Nassau and Suffolk Counties on Long Island, Westchester County, most of New York City, New Jersey and parts of Pennsylvania. If an interested party "clicks-through", it is immediately directed to the company's website where one can easily sign up and become a customer.
Nicholas Cirillo, Jr., President of Clickable Enterprises said, "The Google program, that we began participating in last September, has proven to be extremely effective." Cirillo continued, "According to Google's posted results, we outperformed our competitors in February in every market region that we operate in. For example, Google posted an 18.7% click-through rate for ClickableOil in the Easton, Pennsylvania market, while our competitors only experienced a 2.9% click-through rate for the same region. Google's report also showed a 7% click-through rate for ClickableOil.com in Westchester County, while our competitors averaged only 1.3%. Finally, we experienced a 10% click-through rate for Long Island and New York City combined, with our competitors' rate only amounting to 2% for that region."
About Clickable Enterprises, Inc.
Clickable Enterprises, through its wholly owned subsidiary, ClickableOil.com, Inc., is the first Internet-based home heating oil company to offer customers affordable home heating oil and related services. Based in Mount Vernon, New York, ClickableOil.com specializes in price control, risk management and product positioning, leaving the oil delivery and services to specially chosen vendors. The company currently operates in New York, New Jersey, Pennsylvania and Connecticut, and has a license to operate in Maryland. It continues to grow geographically along the East coast. For more information, please visit www.clickableoil.com.
This release and oral statements made from time to time by the Company's representatives concerning the same subject matter may contain "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by introductory words such as "expects," "plans," "intends," "believes," "will," "estimates," "forecasts," "projects" or words of similar meaning, and by the fact that they do not relate strictly to historical or current facts. Many factors may cause actual results to differ from forward-looking statements, including inaccurate assumptions and a broad variety of risks and uncertainties, some of which are known and others of which are not. Known risks and uncertainties include those identified from time to time in the reports filed by the Company with the Securities and Exchange Commission, which should be considered together with any forward looking statement. No forward looking statement is a guarantee of future results or events, and one should avoid placing undue reliance on such statements.
Contact:
for Clickable Enterprises, Inc.
Larry Fortune, 949-302-7769
larryfortune@consultant.com
--------------------------------------------------------------------------------
I agree, this is terrible as soon as they release news the dumping begins,
2nd PR in as many days
MOTG Modern Technology Corp Subsidiary, Sound City, Adds LG Electronics to Expanding Product Lines
Market Wire - March 21, 2006 9:00 AM (EDT)
OXFORD, MS, Mar 21, 2006 (MARKET WIRE via COMTEX) -- Modern Technology Corp (OTC BB: MOTG), a diversified technology development and acquisition company, announced today its subsidiary Sound City added LG Electronics to its line-up of product offerings.
Anthony Welch, Modern Technology Corp's Chairman, said, "Consistent with our model of continuous and rapid growth, we increase our product depth with another strong brand. This addition furthers our market awareness as a provider of quality lines."
About Modern Technology Corp
Modern Technology Corp, a diversified technology development and acquisition company, builds revenues through continuous growth, strategic acquisitions, and commercialization of nascent technology. MOTG improves operating efficiencies through the elimination of cost redundancies and realized synergy between subsidiaries. MOTG also commercializes new technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to build shareholder value through a model of continuous growth. Web Address: http://www.moderntechnologycorp.com
About LG Electronics
LG Electronics is a global force in electronics, information and communications products with 2004 annual sales of US $38 billion (consolidated). With more than 66,000 employees working in 76 subsidiaries in 39 countries around the world, LG Electronics is comprised of four main business companies including Mobile Communications, Digital Appliance, Digital Display, and Digital Media. Web Address: http://www.lge.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Company Contact:
Megan Peterson
1.662.236.5928
Modern Technology Corp
1420 North Lamar Blvd.
Oxford, MS 38655 USA
Phone: +1.662.236.5928
Fax: +1.662.236.7663
Web: www.moderntechnologycorp.com
SOURCE: Modern Technology Corp
http://www.moderntechnologycorp.com
Copyright 2006 Market Wire, All rights reserved
MOTG Modern Technology Corp Subsidiary, Sound City, Adds LG Electronics to Expanding Product Lines
Market Wire - March 21, 2006 9:00 AM (EDT)
OXFORD, MS, Mar 21, 2006 (MARKET WIRE via COMTEX) -- Modern Technology Corp (OTC BB: MOTG), a diversified technology development and acquisition company, announced today its subsidiary Sound City added LG Electronics to its line-up of product offerings.
Anthony Welch, Modern Technology Corp's Chairman, said, "Consistent with our model of continuous and rapid growth, we increase our product depth with another strong brand. This addition furthers our market awareness as a provider of quality lines."
About Modern Technology Corp
Modern Technology Corp, a diversified technology development and acquisition company, builds revenues through continuous growth, strategic acquisitions, and commercialization of nascent technology. MOTG improves operating efficiencies through the elimination of cost redundancies and realized synergy between subsidiaries. MOTG also commercializes new technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to build shareholder value through a model of continuous growth. Web Address: http://www.moderntechnologycorp.com
About LG Electronics
LG Electronics is a global force in electronics, information and communications products with 2004 annual sales of US $38 billion (consolidated). With more than 66,000 employees working in 76 subsidiaries in 39 countries around the world, LG Electronics is comprised of four main business companies including Mobile Communications, Digital Appliance, Digital Display, and Digital Media. Web Address: http://www.lge.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Company Contact:
Megan Peterson
1.662.236.5928
Modern Technology Corp
1420 North Lamar Blvd.
Oxford, MS 38655 USA
Phone: +1.662.236.5928
Fax: +1.662.236.7663
Web: www.moderntechnologycorp.com
SOURCE: Modern Technology Corp
http://www.moderntechnologycorp.com
Copyright 2006 Market Wire, All rights reserved
7m TRADED SO FAR - BID - .0007 ASK - .0007
Press Release Source: Modern Technology Corp.
Modern Technology Corp. Estimates 300% Revenue Growth Over Same Period Compared to Prior Year
Monday March 20, 3:06 pm ET
OXFORD, MS--(MARKET WIRE)--Mar 20, 2006 -- Modern Technology Corp (OTC BB:MOTG.OB - News), a diversified technology development and acquisition company, announced today it estimates revenues for the three-months ending March 31, 2006 to be approximately $4,620,000, or an approximate 300% increase over the same period last year which reported revenues of $1,547,793 for the three months ending March 31, 2005.
Anthony Welch, Modern Technology Corp's Chairman, said, "As we have committed, we deliver. Our model of continuous growth brings us closer to true economies of scale and higher earnings potential for 2006. We are poised for impressive results even without further acquisitions. Fortunately, we have acquisitions under consideration now, that if completed, will place us above $65,000,000 for 2006."
About Modern Technology Corp
Modern Technology Corp, a diversified technology development and acquisition company, builds revenues through continuous growth, strategic acquisitions, and commercialization of nascent technology. MOTG improves operating efficiencies through the elimination of cost redundancies and realized synergy between subsidiaries. MOTG also commercializes new technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to build shareholder value through a model of continuous growth. Web Address: http://www.moderntechnologycorp.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Company Contact:
Megan Peterson
1.662.236.5928
Modern Technology Corp
1420 North Lamar Blvd.
Oxford, MS 38655 USA
Phone: +1.662.236.5928
Fax: +1.662.236.7663
Web: http://www.moderntechnologycorp.com
--------------------------------------------------------------------------------
Source: Modern Technology Corp.