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tsta (.85) TurboSonic Announces US$3.25 Million Order for New Pollution Control Technology
Thursday, December 27 2007 8:59 AM, EST Market Wire "US Press Releases "
WATERLOO, ONTARIO -- (MARKET WIRE) -- 12/27/07 -- TurboSonic Technologies, Inc. (OTCBB: TSTA), a leading provider of air pollution control technologies, today announced receipt of a US$3 million new OEM system contract from a US wood products manufacturer. The contract is for a SonicKleen(TM) Wet Electrostatic Precipitator (WESP) system to control condensable volatile organic compounds and particulate emissions from an oriented strand board (OSB) dryer, with equipment delivery planned for mid 2008.
Edward Spink, TurboSonic's CEO commented, "This is the latest in a series of orders from this major customer. The design goes beyond current environmental regulations, to permit catalytic operation of the downstream thermal oxidizer. This will reduce natural gas consumption and operating costs, as well as the mill's carbon footprint from CO2 greenhouse gas emissions. The installation will be a "first of its kind" in the industry, incorporating recently patented and patent-pending innovative design features for more effective emissions control and reduced maintenance and operating costs."
TurboSonic Technologies (www.turbosonic.com) designs and markets air pollution control technologies to industrial customers worldwide. Its products help companies in the Cement and Mineral Processing, Ethanol, Metals & Mining, Petrochemicals, Power Generation, Pulp & Paper, Waste Incineration, and Wood Products industries comfortably meet the strictest emissions regulations, improve performance and reduce operating costs.
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statement. Factors that impact such forward-looking statements include, among others, changes in general economic conditions, interest rates, government regulations, and competition. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statement, see the annual report on Form 10-KSB and other documents the Company files from time to time with the Securities and Exchange Commission .
TurboSonic Technologies, Inc. (OTC Bulletin Board: TSTA - News)
Contacts:
TurboSonic Technologies, Inc.
Ed Spink
CEO
(519) 885-5513
(519) 885-6992 (FAX)
Email: info@turbosonic.com
Website: www.turbosonic.com
pltg (.15) Platina Announces Proven Reserves Exceed $3 Per Share
Thursday, December 27 2007 8:58 AM, EST Market Wire "US Press Releases "
CHEYENNE, WY -- (MARKET WIRE) -- 12/27/07 -- Platina Energy Group, Inc. (OTCBB: PLTG) ( FRANKFURT : O5Y) reports, since early 2007, estimated proven oil reserves held by Platina have almost doubled in value. Platina's combined reserves now reflect potential appreciation by more than 35% for the year exclusive of recent acquisitions. This translates into reserve estimates exceeding $3 per share.
According to Blair Merriam, "It will be up to the market place and shareholders to determine the hidden potential of the Company's value and to make informed investment decisions."
As reported by the Wall St Journal on Saturday, "Oil-price prognosticators, bruised after an unusually volatile spell in the oil patch, have reached a rough consensus on next year: Oil will be even costlier, even if the economy cools.
"Consumers are likely to pay a lot more at the pump, too. The Energy Department predicts that far higher average oil prices will force gasoline prices to even out at $3.11 next year, up 10%... "
About Platina Energy Group
Platina Energy is a fast growing E&P Company . Since organization in 2005, it has acquired proven producing and proven non-producing reserves in addition to other possible reserves. The Company also owns rights to German inspired oil extraction technology completing the R & D phase. The Company continues to be aggressive in acquiring new and existing producing fields.
RISK/SEC DISCLAIMER
Information contained herein contains forward-looking statements; not guarantees of future success.
The presence or recoverability for optimal/timely reserves, costs, scheduling, etc., cannot be promised. This release contains "Safe Harbor" provisions of the US Private Securities Litigation Reform Act of 1995 & involves risks and uncertainties, that could cause actual results to differ materially from those estimated herein.
Platina Energy believes the forward-looking statements to be based on reasonable assumptions however, no assurances are made. Unpredictable & unanticipated risks; trends; potential unprofitability; cash flow impairments; access to financing; and other risks must be understood.
Platina Energy assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. Issuances of shares for acquisitions, settlements or services may dilute future earnings.
Oilfield leases, contain certain terms and stipulations, often developmental or financial, that may require performance by the lessee. This could result in loss of future rights and underlying assets.
Contact Information:
Platina Energy Group
Blair Merriam
Email Contact
www.PlatinaEnergyGroup.com
sgus (.33) Shiming U.S. Announces Third Quarter 2007 Results
Thursday, December 27 2007 8:58 AM, EST Market Wire "US Press Releases "
SHANXI PROVINCE, CHINA -- (MARKET WIRE) -- 12/27/07 -- Shiming U.S., Inc. (OTCBB: SGUS), a consumer electronics maker based in China , announced its financial results for the third quarter ending September 30, 2007 in its quarterly report filed with the SEC on November 19, 2007 .
Third Quarter 2007 Results as Compared to the Same Period in 2006 (in U.S. Dollars):
-- Revenues increased 171 percent, from $1.1 million to $2.9 million
-- Net income more than doubled, increasing by $363,000 to $696,000
-- Earnings per share increased 259 percent year over year to 1.04 cents
from .29 cents
-- Total operating expenses decreased 23.4 percent to $0.4 million from
$0.5 million year over year
Following a positive second quarter in 2007, the company's third quarter in 2007 also compared favorably against the same period in 2006, with higher revenues and lower operating expenses. Compared to Shiming's first nine months of 2006, the same nine month period of 2007 saw sales increase 67 percent from $4.9 million to $8.2 million .
The positive growth of the company corresponds with growing consumer demands where Shiming products are sold. The company may seek additional financing to fund research and development and to expand its production capacity in order to meet anticipated growing demands. "Our ability to bolster our research and development efforts and to increase our production capacity is key to Shiming's future growth and to our ability to secure a better position within the industry," stated the company's chief executive officer, Mr. Shiming Wang.
About Shiming U.S., Inc.
Shiming U.S., Inc. is a consumer electronics company with a particular focus on the development and manufacture of competitively priced LCD products, including HDTV and computer monitors. Shiming's manufacturing plant is located in the Changxin High and New Technology Industrial Garden in Shenzhen, China . For several years we have been involved in the research and development of consumer electronics products and technologies such as LCD, plasma displays, and household electronics.
Cautionary Statement Regarding Forward Looking Information
This press release contains forward-looking information about Shiming that is intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology, and include discussions of strategy, and statements about industry trends and Shiming's future performance, operations and products.
This forward-looking information should be considered only in connection with Shiming's quarterly report on Form 10-QSB filed with the SEC on November 19, 2007 , and its other current and periodic reports filed with the SEC. Shiming assumes no obligations to update any forward-looking statements or information set forth in this press release.
Contact:
Shiming U.S., Inc.
Chunan Liu
Chief Financial Officer
Email Contact
nphc (.033) nnlx (.09) Nutra Pharma Expands Licensing Agreement to Include Environmental Testing for Nontuberculous Mycobacterium
Thursday, December 27 2007 8:58 AM, EST Business Wire "US Press Releases "
BOCA RATON, Fla.--(BUSINESS WIRE)--
Nutra Pharma Corp. (OTCBB:NPHC), a biotechnology company that is developing drugs for HIV and Multiple Sclerosis (MS), has today announced that it has expanded its licensing agreement with NanoLogix, Inc. , (Pink Sheets: NNLX) to include intellectual property for the use of testing the environment for NonTuberculous Mycobacterium (NTM).
"NTM infections are becoming a major concern for hospitals and medical clinics around the world," explained Rik J. Deitsch, Chairman and CEO of Nutra Pharma Corporation . "Combining our newly licensed intellectual property with our current test kit technology will allow our subsidiary, Designer Diagnostics, to attempt to successfully launch a cost-effective solution to help identify the environmental sources of NTM infections," he added.
NonTuberculous Mycobacterium, also known as atypical Tuberculosis (Atypical TB) or Mycobacterium other than Tuberculosis (MOTT), is a bacteria that is found in water, including hot tubs and showers, some domestic and wild animals, and soil. One of the most common forms of NTM infections found in humans is Mycobacterium avium complex (MAC). This is a primary cause of respiratory disease in humans and is a leading cause of death in HIV/AIDS patients.
"Expanding this licensing agreement to include environmental testing is a natural progression of our relationship with Nutra Pharma and our belief in its ability to successfully bring these kits to market," commented Bret Barnhizer, President and CEO of NanoLogix, Inc. "In addition to helping detect NTM in patients, Nutra Pharma will now be able to test for NTM in the environment to help prevent others from becoming infected," he concluded.
Nutra Pharma's wholly-owned medical devices subsidiary, Designer Diagnostics, is currently planning to undergo third party validation for its NTM diagnostic test kits at leading Tuberculosis research institute, National Jewish Medical and Research Center, in Denver, Colorado . The Company plans to apply for FDA approval upon successful completion of this clinical trial.
Recently, distinguished NTM research scientist, Dr. Rahul Narang, used the Designer Diagnostics test kits to test soil and water samples collected from the environment of patients with NTM infections. This was the first time the technique was used in India and the findings were presented in November at the 38th Union World Conference on Lung Health in Cape Town, South Africa .
About Nutra Pharma Corp.
Nutra Pharma Corp. is a biopharmaceutical company specializing in the acquisition, licensing and commercialization of pharmaceutical products and technologies for the management of neurological disorders, cancer, autoimmune and infectious diseases. Nutra Pharma Corp. through its subsidiaries carries out basic drug discovery research and clinical development and also seeks strategic licensing partnerships to reduce the risks associated with the drug development process. The Company's holding, ReceptoPharm, Inc , is developing these technologies for the production of drugs for HIV and Multiple Sclerosis ("MS"). The Company's subsidiary, Designer Diagnostics, is engaged in the research and development of diagnostic test kits designed to be used for the rapid identification of infectious diseases such as Tuberculosis (TB) and Mycobacterium avium-intracellulare (MAI). Nutra Pharma continues to identify and acquire intellectual property and companies in the biotechnology arena.
http://www.NutraPharma.com
http://www.DesignerDiagnostics.com
SEC Disclaimer
This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in Nutra Pharma's ("the Company") business plan. The Company's business is subject to various risks, which are discussed in the Company's filings with the Securities and Exchange Commission ("SEC"). The expanded licensing agreement with NanoLogix, Inc. , to include environmental testing should not be construed as an indication in any way whatsoever of the value of the Company or its common stock. The Company's filings may be accessed at the SEC's Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, we do not undertake, and we specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
Source: Nutra Pharma Corp.
jumt (1.15) SDC Solutions and Juma Technology Provide Next Generation Convergence Solutions
Thursday, December 27 2007 8:58 AM, EST Business Wire "US Press Releases "
MANCHESTER, N.H. --(BUSINESS WIRE)--
SDC Solutions, a leading provider of mission-critical communications solutions, today announced their recently executed reseller agreement with Juma Technology Corp. (OTC: JUMT). Under the agreement, Juma is now an Authorized Platinum SDC Reseller and has added SDC's industry leading communications solutions to their portfolio of current offerings.
SDC provides an integrated call handling solution for enterprise-wide communications. This integrated approach helps organizations streamline communications in order to boost productivity, save lives, enhance customer service, increase customer and staff satisfaction and reduce costs. The SDC/Juma relationship is founded upon the importance of a long term strategy that will offer the best service and cutting edge solutions to customers. These solutions incorporate products that enable the management of one database for directories, on-call scheduling, operator consoles, paging, emergency communications, advanced speech recognition, web and IP services. Joseph Roman, Channel Sales Manager for SDC Solutions, stated, "Juma Technology is the exact type of partner that will lead to ultimate levels of account penetration and continued long term customer satisfaction for SDC Solutions."
About Juma Technology
Juma Technology Corp. (OTC: JUMT) provides advanced IP Convergence solutions that integrate voice, data and video applications. Juma's IP Convergence solutions enable companies to increase productivity, enhance mobility and create significant cost savings, particularly for multi-location businesses. Juma has been recognized as an industry leader in providing integrated business communications and services, helping customers leverage network convergence to achieve their individual business goals. For more information, visit www.jumatechnology.com.
About SDC Solutions
SDC Solutions is a leading provider of mission-critical communications solutions. Through a robust suite of products, including IntelliDESK(R) PC-based console, IntelliSPEECH(R) Intelligent Virtual Agent, WebSERVICES web-based directory, IPSERVICES IP-based directory, and Event and Emergency Notification, SDC integrates industry standard technologies to provide easy access to centralized directory knowledge. SDC products can be used together as part of a Total Call Handling Solution or individually based on a customer's needs.
SDC is a Nuance (NASDAQ:NUAN) Business Partner and a member of the Avaya (NYSE:AV) DevConnect Program, the Cisco (NASDAQ:CSCO) Technology Developer Program, the NEC (NIPNY) Fusion Program, the Nortel Networks (NYSE:NT) Developers Program and the Siemens (NYSE:SI) Technology Partner Program. For more information, visit www.sdcsolutions.com.
Source: SDC Solutions
admd (.73) Advanced Medical Isotope Corporation Update on IPP Project in Ukraine
Thursday, December 27 2007 8:55 AM, EST PrimeNewswire "PrimeNewswire "
KENNEWICK, Wash., Dec. 27, 2007 (PRIME NEWSWIRE) -- Advanced Medical Isotope Corporation of Kennewick , Wash. (AMIC) (Pink Sheets:ADMD) anticipates imminent formal approval from the United States Industrial Coalition Inc. for a Global Initiatives for Proliferation Prevention (IPP) project. This project is to develop and commercialize the innovative Alternative Method for Producing Medical Isotopes (AMP-MI) technology. During the two-year project, a neutron machine technology for the production of select medical isotopes will be designed, tested, demonstrated, and expected to be brought to commercial production. This innovative isotope production method is based on the AMP-MI technology currently under development at the Kharkiv Institute of Physics and Technology in Ukraine for producing a high neutron flux combined with an advanced target design.
The overall results of the proposed AMP-MI technology development effort will be isotope production that is much more controlled and simplified, is less costly, and occupies less space (housing will be in a normal room size) as compared to a nuclear reactor production facility. An additional benefit is that the AMP-MI technology allows production of medical isotopes in close proximity to the location where they will be used for diagnostic or therapeutic purposes.
The AMP-MI technology will directly address the issue of inadequate U.S. production facilities and reliance on foreign suppliers of medical isotopes. U.S. dependence on foreign production was recently highlighted in news articles such as this one from The New York Times ( December 6, 2007 ):
"Medical treatments are being delayed or deferred at hospitals worldwide because of the extended shutdown of a Canadian reactor ... "
"The reactor, the Atomic Energy of Canada reactor at Chalk River, Ontario , near Ottawa , is North America's only source of the base isotope for technetium-99, a workhorse of modern medical diagnostic systems. It is injected into patients 20 million times a year in the United States to create images used in the diagnosis and treatment of a wide variety of illnesses including heart ailments, cancers and gallbladder problems."
"The shortfall has renewed decades-old calls for the United States to develop its own medical isotope reactors - (and develop machine based production capability adds Dr. Robert Schenter, AMIC's Chief Science Officer) - rather than continuing to rely on imported products from a limited number of producers."
The AMP-MI neutron machine technology is based on a reaction for generating neutrons that is unique and advantageous as compared to other neutron generating machines. The core technology advantage of the proposed approach is the design of the target (both target material and target configuration) for neutron generation and the production of neutrons primarily in the forward direction. Traditionally, a "thin" target, which thickness is equal to the length of run of deuteron in a target, is used. Conversely, AMP-MI employs a relatively thick target. The proposed target's shape is the same as the geometry of the spatial distribution of produced neutrons. Neutrons are produced primarily in the forward direction and the entire neutron output is therefore used more effectively. In such a design, the target is multifunctional; it serves as a target and also as neutron moderator and neutron scatterer. Neutron energy becomes suitable for isotope production after neutrons will have passed partially into the target. The samples for isotope production are placed in the holes made in the target at such distance as to maximize production of the desired isotope.
James C. Katzaroff, AMIC President says, "The AMP-MI technology offers a breakthrough in neutron generating technology that overcomes the radioactivity and short target life of "conventional" neutron machines for potential application to medical isotope production. The advantage of the proposed approach is the design of the target (both target material and target configuration) for neutron generation and the production of neutrons primarily in the forward direction. The neutron generating target does not become radioactive and when the product isotopes are removed is contact maintained. In addition the target material and design has an extremely long life as compared to conventional neutron generators."
Advanced Medical Isotope Corporation will benefit from this project by having developed a unique machine using a new low-cost method for producing medical isotopes. This technology will allow production of isotopes on a smaller scale and closer to the point of use than current reactor based production. This will give AMIC new products and increase product lines for current and new customers. AMIC is also expected to benefit from further collaboration with Ukrainian project institutes, principally Kharkiv Institute of Physics and Technology and the Ukrainian private company Gammatech Medisotopes. This collaboration is expected to lead to other commercial technologies and products of interest to AMIC. Chief Executive Officer, William J. Stokes states that "This is in concert with AMIC's goal to develop, manufacture, and market medical isotopes and compact systems used for production of medical isotopes.
About AMIC
Advanced Medical Isotope Corporation is engaged in the development of advanced production systems and processes for bringing previously unavailable medical isotopes to the market place and advancing systems for local product production. The field of nuclear medicine has routinely utilized radioisotopes in the diagnosis of disease while new processes are being pioneered for the targeted treatment of diseases such as cancer in preference to surgical techniques. Advanced Medical Isotopes Corporation products support the accessibility to these less invasive therapeutic processes by advancing systems for lower cost production and improving supply availability of medical isotopes to hospitals and clinical treatment centers. For more information, please visit www.isotopia.us
Forward-Looking Statements
Except for historical information contained herein, the matters set forth in this press release, such as statements relating to the company's ability to drive technological developments and the acceptance and timing of product introductions, are forward-looking statements that are subject to risks and uncertainties, including but not limited to, timely developments and acceptance of new products, the impact of competitive products and pricing, the timely development and release of products by suppliers, and other risks.
CONTACT: Advanced Medical Isotope Corporation
James C. Katzaroff
(509) 736-4000
Fax: (509) 736-4007
AIRN (1.78) Airspan Obtains FCC Certification for Products in 3.65GHz Frequency Band
Thursday, December 27 2007 8:51 AM, EST Market Wire "US Press Releases "
BOCA RATON, FL -- (MARKET WIRE) -- 12/27/07 -- Airspan Networks Inc. (NASDAQ: AIRN), a leading provider of WiMAX-based broadband wireless access networks, announced today that it had obtained FCC certification to market its HiperMAX base station in the 3.65GHz band in the United States . HiperMAX base stations in the 3.65GHz band are already being deployed with several carriers internationally. This is the first of a series of products planned for this band to receive FCC certification, including MicroMAX, a compact base station, and several subscriber devices including the EasyST and outdoor ProST, both of which also support optional WiFi and VoIP extensions.
While this initial certification is for operation in the lower half of the 3.65GHz band, Airspan products for the band implement a unique "Detect and Protect" contention protocol which, pending formal FCC certification, would double the amount of spectrum available to operators.
Paul Senior, Airspan's CTO, noted, "The system has already been deployed commercially in several countries, including operation in European 3.65GHz allocations, with operators delivering Fixed WiMAX services and planning software upgrades to deliver Mobile WiMAX services in 2008. We're excited to now be able to offer the product in the United States . Carriers feel more comfortable with products that have a proven track record and several of our U.S. customers have been waiting for this certification to begin looking at the 3.65GHZ products. The HiperMAX solution provides some key technologies like MIMO operation and 10MHz channels which significantly improve the business case for operators. The extra range and capacity provided by Airspan's solution can be a real game-changer."
The 3.65GHz solution adds to Airspan's product line for the U.S., which already includes products for the 700MHz and 1.x-, 2.x-, 4.x- and 5.x-GHz bands.
About Airspan Networks Inc.
Airspan Networks provides wireless voice and broadband data systems and solutions for the fixed and mobile WiMAX and Wi-Fi markets, including Voice Over IP (VoIP). Its wireless products serve operators around the world in both licensed and unlicensed frequency bands between 700 MHz and 6 GHz. Airspan has a strong wireless product roadmap that includes WiMAX Forum Certified equipment and products meeting 802.11 a/b/g Wi-Fi standards, Airspan's HiperMAX and MicroMAX base station products support portable and mobile 802.16e-2005 WiMAX alongside fixed and nomadic 802.16-2004 products. Airspan products also include "self install" and professionally installed customer premise equipment. Airspan is on the Board and is a founder member of the WiMAX Forum and a member of the Wi-Fi Alliance. The Company has deployments in more than 100 countries with more than 400 operators, 100 of which use Airspan's WiMAX Forum Certified and non-certified products. Airspan's wireless systems are based on radio technology that delivers excellent area coverage, high security and resistance to fading. These systems can be deployed rapidly and cost effectively, providing an attractive alternative to traditional wired communications networks. Airspan also offers radio planning, network installation, integration, training and support services to facilitate the deployment and operation of its systems. Airspan is an international telecommunications equipment provider headquartered in Boca Raton, Florida . More information on Airspan can be found at http://www.airspan.com.
This press release contains 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. All statements, other than statements of historical facts, including statements regarding our strategy, future operations, financial position, future revenues, projected costs, prospects, plans and objectives of management, may be deemed to be forward-looking statements. The words "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "will," "would" and similar expressions or negative variations thereof are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Investors and others are therefore cautioned that a variety of factors, including certain risks, may affect our business and cause actual results to differ materially from those set forth in the forward-looking statements. The Company is subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission , including its Annual Report on Form 10-K for the year ended December 31, 2006 and in the Company's 2007 Quarterly Reports on Form 10-Q. You should read those factors as being applicable to all related forward-looking statements wherever they appear in this press release. We do not assume any obligation to update any forward-looking statements.
For Investor Relations and Media Inquiries, contact:
David Brant
Senior Vice President & Chief Financial Officer
Airspan Networks Inc.
Tel: +1 561 893-8650
Fax: +1 561 893-8681
Email: Email Contact
voic (.102) VoIP, Inc. Enters Into $2.5 Million Private Placement
Thursday, December 27 2007 8:47 AM, EST Business Wire "US Press Releases "
ORLANDO, Fla .--(BUSINESS WIRE)--
VoIP, Inc. (OTCBB: VOIC) announced today that it has entered into definitive agreements for a private placement comprised of secured convertible notes ("Notes") issued to a number of institutional investors, including existing shareholders. The Company agreed to issue Notes carrying a face value of $2,871,601 , resulting in net proceeds to the Company of $2,497,044 . Proceeds will be used to repay outstanding promissory notes and other obligations to investors, and to support working capital requirements created by the Company's growth. VoIP received approximately $1.3 million in the first closing and is expected to receive the remaining proceeds under closings scheduled for January 18, 2008 and February 18, 2008 .
"We are pleased that the existing investor group recognized the significant progress we have made over the past year, and elected to provide additional capital to support our growth," said Tony Cataldo, VoIP, Inc.'s Chief Executive Officer. "During the past year, we have expanded our network, increasing the minutes carried over it substantially. This has resulted in improved operating results, a trend we expect will continue throughout 2008. This financing will allow us to support higher levels of activity over our network and to continue to invest in maintaining and expanding it."
The Notes mature on June 18, 2008 . The investors will also be issued 16,382,352 shares of series A preferred stock (the "Preferred Stock") with a stated value of $0.50 per share. The investors may at their election convert all or part of the Notes and Preferred Stock into shares of the Company's common stock at the conversion rate of the lesser of $0.072 per share or 70% of the Company's average of the three lowest closing bid prices of its common stock for the 10 days prior to the date an investor converts its Note or Preferred Stock. The shares underlying the Preferred Stock and Notes have not been registered.
About VoIP, Inc.
VoIP, Inc. is a leading provider of turnkey Voice over Internet Protocol (VoIP) communications solutions for service providers, resellers and consumers worldwide. The Company is also a certified Competitive Local Exchange Carrier (CLEC) and Inter Exchange Carrier (IXC). Through its wholly owned subsidiary, VoiceOne Communications, LLC , the Company provides a comprehensive portfolio of advanced telecommunications technologies, enhanced services, broadband products, and fulfillment services to the VoIP and related communications industries. Current and targeted customers include IXCs, CLECs, Internet Telephony and Conventional Telephony Service Providers (ISPs and ITSPs), cable operators and other VoIP Service Providers in the United States and countries around the world. The Company enables these customers to expand their product/service offerings by VoIP's nationwide packet network through services such as voice termination/origination, e911 emergency call service for VoIP, CALEA, Broadband Voice, IP Centrex and other advanced communications services and technologies. For information on VoIP, Inc. please visit the Company's web site: www.voipincorporated.com.
Safe Harbor Statements about the Company's future expectations and all other statements in this press release other than historical facts, are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. When used in this document, the words 'anticipate,' 'estimate,' 'expect,' 'intend,' 'plans,' 'projects,' and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties.
Source: VoIP, Inc.
igtp (.035) Intelligent Sports, Inc.'s "Create Space For Exercise" Program and E-Commerce Web Site Set for Launch in 2008
Thursday, December 27 2007 8:29 AM, EST Market Wire "US Press Releases "
UPLAND, CA -- (MARKET WIRE) -- 12/27/07 -- Intelligent Sports, Inc. (PINKSHEETS: IGTP) is pleased to announce that, as the Company heads into 2008, it has the agreements in place to launch the second phase of its "Create Space For Exercise" (CSFE) sales program in retail outlets throughout North America . The Company has an agreement with SportsArt Fitness to produce fitness equipment specifically for the CSFE program, set to launch in early 2008.
Intelligent Sports includes the following events as its primary goals for 2008: the successful launch of the CSFE program in "big box" retail outlets throughout North America ; the opening of the first of its Youth Fitness Centers; the introduction of an exclusive line of fitness equipment specifically for its Youth Fitness Centers; the completion of marketing agreements with various charities and foundations to increase awareness of childhood obesity.
In June 2007 , Intelligent Sports acquired Global Retail Fitness Concepts, which originally developed the CSFE kiosk platform for the sales of home fitness, cardiovascular and strength equipment through retail, wholesale and membership club outlets. Intelligent Sports has since redesigned the concept in cooperation with SportsArt Fitness, and is targeting the program to a broader base of retail outlets and consumers.
Intelligent Sports is also preparing the launch of its e-commerce Web site. The online shopping venue will be linked to the Company's main Web site and will not only provide a central "one stop" location for consumers to purchase home fitness equipment, it will add brand awareness and a new source of revenue for Intelligent Sports, Inc. The site is expected to be operational in early 2008.
"This has been a watershed year for Intelligent Sports. The revenue from the CSFE program and our e-commerce store will enable us to better define our business strategy in the coming year and continue to focus on the development of our Youth Fitness Centers, which has been our goal since the Company's inception," stated Thomas Hobson, CEO of Intelligent Sports, Inc.
Intelligent Sports plans to open the first of its Youth Fitness Centers in 2008 in Southern California with the intent of expanding the model throughout the United States . The centers will include circuit fitness machines, stationary cycles and exercise programs of all types, as well as diet and nutrition instruction.
Intelligent Sports' Nothin' But Net (NBN) sports programs enjoyed an outstanding turnout throughout the year. Nearly 3,000 boys and girls participated in seasonal leagues, tournaments and workshops, gaining valuable experience from strong competition and professional coaching.
This past summer, NBN sports added to the programs through a cooperative effort with EM Speed and Power Training, LLC , giving the young athletes an opportunity to experience professional training normally reserved for high-level college and Olympic athletes. Intelligent Sports also launched joint programming with the Upland Sports Arena, in which the two Companies now combine their efforts to bolster membership and add to the programs offered to young athletes in Southern California .
To read the 2007 Letter to Shareholders from Intelligent Sports' CEO, Tom Hobson, please visit the Company's Investor Relations page at www.intelligentsports.net/press.html.
For more information about SportsArt Fitness, please go to www.sportsartamerica.com.
About Intelligent Sports, Inc. :
Intelligent Sports (www.intelligentsports.net) provides organized youth sports and fitness programs that allow kids to grow athletically and intellectually. Whether it is sports-related, health development, or specialized fitness training, Intelligent Sports will meet their general athletic and physical needs. Intelligent Sports will launch the business model in other targeted communities throughout the country over the next several years.
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Contact:
Intelligent Sports, Inc.
www.intelligentsports.net
Investor Relations
(866)-THE-APPL(E)
pdss (.0001) Produce Safety & Security International, Inc. to Lead the Way in Standardizing Ozone Technology in 2008
Thursday, December 27 2007 8:28 AM, EST Market Wire "US Press Releases "
IRVING, TX -- (MARKET WIRE) -- 12/27/07 -- Produce Safety & Security International, Inc. (PINKSHEETS: PDSS) is pleased to announce that the Company plans to build its name as the leader in ozone technology, spearheading the standardization of sanitation practices in the food industry in 2008. The Company is exploring new avenues to introduce its Spherequat and Ozone products into the organic produce market, the fastest growing sector in the produce industry.
Produce Safety & Security is set to launch its Ozone tracking and audit system in seaports across the United States in 2008. It is part of an ongoing effort to standardize the sterilization practices of food products imported to and exported from the United States . In 2007, the Company signed three agreements with METSS Corp , which provides innovative environmental solutions, consulting to the U.S. Navy Food Science, U.S. Air Force and U.S. Department of Energy . The agreements make Produce Safety & Security, a provider of Ozone Spray technology for the sterilization of ships and trucks that come into contact with food or produce in U.S. seaports.
Produce Safety & Security has a developed a simplified Produce Grading System for the Food Safe Produce industry. This new system provides a complete grading analysis with the audit trail tied to the Produce Safety & Security worldwide tracking system.
In 2008, Produce Safety & Security looks forward to establishing an advisory board, which will include names from both the political and private sectors. Also, the Company plans to increase its visibility within the hospitality industry in an effort to update sanitary practices in restaurants, hotels and public venues of all types.
"The Company's Ozone Spray and tracking system has already been introduced to U.S. seaports, which we expect will build our bottom line over the course of the new year. We have signed two exclusive contracts for our food safety products for government use, and will continue to branch out to other sectors in the food safety industry, including organically grown produce," stated Clarence W. Karney, CEO of Produce Safety & Security International, Inc.
About Produce Safety & Security International, Inc. :
Produce Safety has developed and patented products for extending the shelf life of perishables. The EPA-registered products sanitize and disinfect against food-borne illness pathogens and disease-causing bacteria. This process will provide retail produce departments with reduced shrinkage, increase the bottom line and provide a fresher product for the consumer. The Company provides a range of options for retail stores, restaurants, cruise ship lines, disaster cleanups and municipal programs. Furthermore, the process incorporates a complete audit trail, an essential component for complying with government regulations in the USA, Canada , and Mexico .
Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. The Company is a development stage company who continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
To automatically receive instant updates, press releases, and other information on this and other Big Apple Consulting USA companies, please visit www.bigappleconsulting.com/compro.php and download your FREE copy of Big Apple ComPro.
Contact:
Investor Relations
1-866-THE-APPL(E)
ldhg (.001) Liberty Diversified Holdings, Inc. Names Armstrong Troyky to Head Up Initial Advertising Launch in Southwest U.S.
Thursday, December 27 2007 8:28 AM, EST PR Newswire "US Press Releases "
ORANGE, Calif., Dec. 27 /PRNewswire-FirstCall/ -- Liberty Diversified Holdings, Inc. (Pink Sheets: LDHG) announced today that it has completed negotiations and agreed to utilize the services of Armstrong Troyky public relations and advertising to head up its initial advertising launch in the Southwest U.S. Armstrong Troyky will play a key role in organizing and orchestrating the initial launch of Liberty's Nu20 line of premium enhanced bottled water products in Arizona and Southern California , which will in turn lay the foundation for regional and national campaigns to follow. Armstrong Troyky is a Phoenix -based full service public relations and advertising agency that specializes in product launch, brand development, television and radio production, print advertising, and strategic communications programs. For more information visit http://www.armstrongtroyky.com.
COMMENTARY
In response to these announcements, Ronald C. Touchard, Chairman and CEO of Liberty Diversified Holdings, Inc. , stated, "We are very happy to announce that public relations and advertising firm of Armstrong Troyky has been chosen to spearhead our initial advertising campaign. We interviewed more than half a dozen top-rate firms before making our final selection, and while they all possessed various outstanding skills, Armstrong Troyky clearly stood out as the team that offered both the expertise and the vision we were seeking to help us clearly define our company and brand our product in the minds of the consumer."
ABOUT LIBERTY DIVERSIFIED HOLDINGS, INC.
Liberty Diversified Holdings, Inc. (LDHG.PK) recently acquired the 100% of the assets of XND Technologies, Inc. (XND), an Arizona corporation, including all of its proprietary formulations, patents and trademarks, and its existing production and distribution systems. XND has been working to produce and distribute a line of nutrient-enhanced bottled water products that contain no calories, no carbohydrates, no colors and most importantly, no flavors other than pure water, and does this using a patented process that is more efficient and less costly than others currently in use. This concept is unique because no other producer adds organic nutrients without also adding masking flavors, colors or sweeteners. Liberty has applied for a name change to reflect its new direction in the bottled water business and will be announcing its new name and symbol shortly. The Company has redirected its entire efforts to the premium bottled water industry and intends to market a full line of nutrient-enhanced water products to compete with currently available products such as VitaminWater and SmartWater. Initial products are expected to include those enhanced to provide vitamin support for general health, a diet formulation for weight watchers, an immune booster, an energy and fitness drink, and others. Liberty is also in the final stages of negotiations for the acquisition of assets for a second water company, and a further announcement regarding that transaction is expected very soon.
For more information call (949) 376-4846 or visit http://www.libertydiversifiedholdings.com (a new website reflecting the company's new name will be released shortly).
Caution Regarding Forward-Looking Statements: This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results which are not yet available. These forward-looking statements include, among others, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. These forward-looking statements are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, the integration of acquisitions, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee. We are under no obligation (and we expressly disclaim any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise.
Ron Touchard, CEO Liberty Diversified Holdings, Inc. ,
+1-949-376-4846
info@libertydiversifiedholdings.com
SOURCE Liberty Diversified Holdings, Inc.
pltg (.16) Platina Announces Authorized Shares and Rumor Clarification
Thursday, December 27 2007 8:28 AM, EST Market Wire "US Press Releases "
CHEYENNE, WY -- (MARKET WIRE) -- 12/27/07 -- Platina Energy Group, Inc. (OTCBB: PLTG) ( FRANKFURT : O5Y) reports that rumors relative to a major transaction involving the potential acquisition of a substantially larger Company may be accurate. Prior to the annual meeting to be announced in January, management has solicited sufficient votes to authorize BUT NOT ISSUE up to five hundred million common shares to facilitate such a possible transaction should such a motion be presented for vote at the annual meeting.
Blair Merriam, President of Platina, stated, "We have no intention of diluting shareholders by the issuance of additional stock without consideration. We've merely positioned the Company to have the ability to acquire accretive opportunities following completion of due diligence and possible terms. Management's job is to deliver value and proven growth which remains our top priority."
The Company further reports that it is revising the current web presence and will be facilitating investor conference calls starting the first part of 2008 both in English and German.
About Platina Energy Group
Platina Energy is a fast growing E&P Company . Since organization in 2005, it has acquired proven producing and proven non-producing reserves in addition to other possible reserves. The Company also owns rights to German inspired oil extraction technology completing the R & D phase. The Company continues to be aggressive in acquiring new and existing producing fields.
RISK/SEC DISCLAIMER
Information contained herein contains forward-looking statements; not guarantees of future success.
The presence or recoverability for optimal/timely reserves, costs, scheduling, etc., cannot be promised. This release contains "Safe Harbor" provisions of the US Private Securities Litigation Reform Act of 1995 & involves risks and uncertainties, that could cause actual results to differ materially from those estimated herein.
Platina Energy believes the forward-looking statements to be based on reasonable assumptions however, no assurances are made. Unpredictable & unanticipated risks; trends; potential unprofitability; cash flow impairments; access to financing; and other risks must be understood.
Platina Energy assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. Issuances of shares for acquisitions, settlements or services may dilute future earnings.
Oilfield leases, contain certain terms and stipulations, often developmental or financial, that may require performance by the lessee. This could result in loss of future rights and underlying assets.
Contact Information:
Platina Energy Group
Blair Merriam
Email Contact
www.PlatinaEnergyGroup.com
POTP (.165) Point Therapeutics Announces Form S-4 Registration Statement Declared Effective by SEC; Special Meeting of Stockholders Set for January 29, 2007
Thursday, December 27 2007 8:28 AM, EST Business Wire "US Press Releases "
WELLESLEY HILLS, Mass.--(BUSINESS WIRE)--
Point Therapeutics, Inc. (NASDAQ: POTP) today announced that the Securities and Exchange Commission has declared effective its Form S-4 Registration Statement, which contains a joint proxy statement/prospectus relating to the proposed merger with DARA BioSciences, Inc. Each company will promptly commence mailing of the joint proxy statement/prospectus to its respective stockholders.
Point will hold a meeting of its stockholders on January 29, 2008 at 10:00 am, Eastern Time , at the law office of Ropes & Gray LLP , One International Place, 36th Floor, Boston, MA 02110, and DARA will hold a meeting of its stockholders on January 28, 2008 at 10:00 am, Eastern Time , at 4505 Falls of Neuse Road, Raleigh, NC 27609, to consider matters relating to the proposed combination of the two companies.
On October 9, 2007 , Point entered into a definitive agreement to merge with DARA. Pursuant to the merger agreement, DARA will merge with DP Acquisition Corp. , a newly-formed subsidiary of Point, with DARA surviving as a wholly-owned subsidiary of Point. After giving effect to the merger, DARA stockholders will hold 96.4% of the combined company's outstanding shares of common stock on a fully-diluted basis, and Point will change its name to DARA BioSciences, Inc. and be based in Raleigh, North Carolina . For information regarding the proposed merger, please refer to the registration statement on Form S-4, which contains a joint proxy statement/prospectus and other relevant materials, filed by Point with the Securities and Exchange Commission on December 17, 2007 .
About DARA BioSciences, Inc. :
DARA BioSciences(TM) , Inc. is a Raleigh, North Carolina -based development-stage pharmaceutical company that acquires promising therapeutic molecules and medical technologies. DARA focuses its therapeutic development efforts on small molecules from late preclinical development through phase 2 clinical trials. DARA is developing a portfolio of therapeutic candidates for neuropathic pain, metabolic diseases including Type 2 diabetes, and dermatological disorders.
About Point Therapeutics, Inc. :
Point Therapeutics, Inc. is a biopharmaceutical company which has studied its lead product candidate, talabostat, in a number of human clinical trials in late-stage cancers. In May 2007 , interim clinical results caused Point's Independent Data Monitoring Committee to recommend stopping Point's two Phase 3 talabostat studies for patients in advanced non-small cell lung cancer. Subsequently, the talabostat clinical development program was put on clinical hold by the U.S. Food and Drug Administration . Point has also studied talabostat in several Phase 2 trials, including as a single-agent and in combination with cisplatin in metastatic melanoma, in combination with rituximab in advanced chronic lymphocytic leukemia, in combination with gemcitabine in Stage IV pancreatic cancer, and in combination with docetaxel in non-small cell lung cancer. Due to cash limitations, Point is not currently funding any internal research or clinical operations.
FORWARD LOOKING STATEMENTS:
This press release contains forward-looking statements, including statements regarding the timing of the special meetings of stockholders and closing of the merger, that involve known and unknown risks, uncertainties and other factors that may cause actual outcomes to differ materially from outcomes expressed or implied by this press release. Such risk factors include, among others that the matters submitted for stockholder approval at the special meetings of stockholders may not be approved. Actual results may differ materially from those contained in the forward-looking statements in this press release. Additional information concerning these and other risk factors is contained in the Risk Factors sections of the Form S-4 filed with the Securities and Exchange Commission on December 17, 2007 , and from time to time in Point's other reports filed with the Securities and Exchange Commission .
Additional Information and Where to Find It
In connection with the merger between DARA and Point, on December 17, 2007 , Point filed with the SEC a registration statement on Form S-4, which contains a joint proxy statement/prospectus and other relevant materials. INVESTORS AND SECURITY HOLDERS OF POINT AND DARA ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND THE OTHER RELEVANT MATERIALS BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT DARA, POINT AND THE MERGER. The joint proxy statement/prospectus and other relevant materials and any other documents filed by Point with the SEC, may be obtained free of charge at the SEC's web site at www.sec.gov. In addition, investors and security holders may obtain free copies of the documents filed with the SEC by Point by directing a request to: Point Therapeutics, Inc. , 70 Walnut Street, Wellesley Hills, MA 02481, Attention: Investor Relations.
Point and its executive officers and directors may be deemed to be participants in the solicitation of proxies from the stockholders of Point in favor of the merger. Investors and stockholders may obtain detailed information regarding the direct and indirect interests of DARA, Point and their respective executive officers and directors in the merger by reading the joint proxy statement/prospectus regarding the merger.
Source: Point Therapeutics, Inc.
wizd (2.38) Wizzard Software CEO Issues Update on Amex Listing
Thursday, December 27 2007 8:28 AM, EST Business Wire "US Press Releases "
PITTSBURGH --(BUSINESS WIRE)--
Chris Spencer, CEO of Wizzard Software (OTCBB: WIZD), today issued the following statement regarding the Company's application for listing on the American Stock Exchange :
"Recently, we have received numerous inquiries regarding our status for listing on the American Stock Exchange . On December 13th , we were notified by Amex that our application has moved from the initial review to a secondary review. This is positive progress. Listing on a national exchange is a rigorous process and while some companies can be approved in eight to ten weeks, it is not unheard of for approvals to take longer. Throughout this process, we have responded to all requests for information or compliance in a very timely manner, including the restructuring of our Board of Directors to act in accordance with Amex requirements.
Although the process has taken longer than Management anticipated, we have not received any indication that our request will not be approved. We continue to interact with the reviewers on a weekly basis and are very hopeful that approval will be granted in the near term."
Disclaimer: Wizzard has determined the Company meets the initial application prerequisites set by the AMEX. However, Wizzard's listing on AMEX is contingent upon application approval and the Company's compliance with all other listing requirements. There is no assurance that the application will be approved.
About Wizzard Software
Founded in 1996, Wizzard Software has become a leader in the speech technology application development market. Wizzard architects solutions to business problems using its expertise in consulting, speech development tools and building speech based applications for the Desktop and Internet. Wizzard has achieved global recognition because of its expertise with voice communication whether it is via computer or telephone. Wizzard's successes have lead to expanding speech technology opportunities in government and commercial sectors, including several healthcare industry products and services. Most recently, Wizzard Software entered the exciting new realm of podcasting. For more information, please visit www.wizzardsoftware.com.
Legal Notice
Legal Notice Regarding Forward-Looking Statements: "Forward-looking Statements" as defined in the Private Securities litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, changes in our business strategies and acts of terror against the United States .
Source: Wizzard Software
avna (.3) Advance Nanotech Secures Financing and Transitions to Operating Company
Thursday, December 27 2007 8:14 AM, EST PR Newswire "US Press Releases "
NEW YORK , Dec 27 /PRNewswire-FirstCall/ -- Advance Nanotech, Inc. , (OTC Bulletin Board: AVNA), announced today that it has entered into subscription agreements with selected institutional and accredited investors totaling $6.7 million . This capital will be used to complete the transition of the Company's business from developing early-stage nanotechnologies to becoming a fully operating company principally focused on the growing chemical detection industry. In furtherance of this transition, the Company today announces its plans to acquire the minority equity interest in its Owlstone Nanotech, Inc. subsidiary from its founding shareholders and management team, and for Advance Nanotech to begin to progressively divest its non-core assets. The company forecasts it will reach profitability in the second half of 2008.
The Financing
On December 19, 2007 , Advance Nanotech, Inc. (the "Company") entered into subscription agreements with selected institutional and accredited investors regarding the private placement of $6.7 million principle amount of 8% Senior Secured Convertible Notes. Axiom Capital Management acted as placement agent, and Middleberry Capital acted as financial advisor.
The Notes mature on the date that is three years from the date of issue and are convertible into shares of common stock of the company at a price of $0.25 per share. The Notes constitute senior indebtedness of the company. Each investor receives 50% warrant coverage with respect to the principle amount of Notes purchased from such investor. The warrants are exercisable into shares of common stock for a period of five years at a price of $0.30 per share.
Although the company has entered into subscription agreements for $6.7 million of Notes, the company does not currently have a sufficient number of authorized shares of common stock to allow the issuance of the Notes. As a result, the company has issued only those Notes and warrants for that portion of the total proceeds that can be supported given the current capital structure of the company. As a result, the Company issued Notes with a principal face amount of $3,953,000 and Warrants convertible into 7,906,000 shares of Common Stock. The remainder of the proceeds received during the private placement is held in escrow pending shareholder approval of the Company's Certificate of Incorporation to increase the number of authorized shares of Common Stock.
The Acquisition of the Minority Interest in Owlstone Nanotech, Inc.
On December 19, 2007 , the Company entered into an exchange agreement with its majority owned subsidiary Owlstone, and certain shareholders of Owlstone, to increase the Company's percentage of equity ownership of Owlstone by issuing newly issued shares of the Company's common stock to certain Owlstone shareholders in exchange for Owlstone common shares at an exchange rate of 3.33 shares of the Company's common stock for each share of Owlstone common stock. The Owlstone shareholders who are party to the exchange agreement currently own an aggregate of 4,211,303 shares of Owlstone common stock, consisting of 22.26% of the total number of shares of common stock of Owlstone outstanding.
Since the Company did not have a sufficient number of authorized and unreserved shares of common stock to support a consummation of the Exchange Agreement on the date the Exchange Agreement was executed, consummation of the transactions contemplated by the Exchange Agreement is expressly conditioned on the approval of the amendment to increase the number of the Company's authorized shares of common stock.
Company Strategy
Upon the acquisition of the balance of the minority interest in Owlstone Nanotech, the Company will have furthered the transition from its prior focus of early-stage nanotechnology development to one principally focused on the continued commercialization of the Owlstone product line for chemical detection. This will serve to increase the focus of the Company in such a way that reflects the maturity of the Owlstone product line, in comparison with other technologies in the Company's portfolio.
The chemical detection industry is a large, rapidly growing market with existing and novel applications that cut across many industrial sectors, including industrial process control, homeland security, environmental monitoring and healthcare. Owlstone Nanotech has developed chemical detection products that are based on patented and patent-pending, proprietary technology. The core Owlstone detector incorporates a silicon chip that can rapidly detect a broad range of chemicals in the ambient air. Having successfully concluded the development of its core sensor, Owlstone is now shipping products to meet real-time chemical detection needs to a growing customer base.
To reflect the Company's principal focus on detection technology, it plans to change its name, will combine management teams, and seek to remove duplicated costs.
Commenting on the future strategy, Magnus Gittins, Chairman of Advance Nanotech said, "As fervent believers, and investors, in the Owlstone technology from day one of its incorporation, we believe that the acquisition of the Owlstone minority interest will provide significant value to Shareholders in Advance Nanotech. Moreover, the company emerges from this process with an exclusive focus on a single, growing market in which it is selling products to a burgeoning customer base."
For more information, contact:
Yvonne Zappulla
Managing Director
Grannus Financial Advisors, Inc.
212-681-4108
Yvonne@grannusfinancial.com
The information contained in this press release is qualified in its entirety by the Company's Form 8K filed today with the Securities and Exchange Commission pursuant to the Securities and Exchange Act of 1934 as amended.
Safe Harbor statement: This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward- looking statements as a result of various factors and uncertainties, including market acceptance of our product lines, the recent economic slowdown affecting technology companies, the future success of our scientific studies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our Annual Report on Form 10KSB, recent and forthcoming Quarterly Reports on Form 10QSB, recent Current Reports and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
SOURCE Advance Nanotech, Inc.
bpwi (.75) Big Apple Worldwide Subsidiary Revolutionizes Wallcovering Industry in 2007
Thursday, December 27 2007 7:59 AM, EST Market Wire "US Press Releases "
NEW YORK, NY -- (MARKET WIRE) -- 12/27/07 -- Big Apple Worldwide, Inc. (PINKSHEETS: BPWI) is pleased to announce that the Company and its subsidiary, Big Apple Wallcovering, Inc. , have enjoyed a landmark year in 2007. Big Apple Wallcovering is in the midst of a successful rollout of its "No More Books™" kiosks in retail outlets throughout the United States . The kiosks have eliminated the need for wallcovering sample books and saved wallcovering manufacturers and retail stores enormous amounts of space, labor and capital.
The kiosks are being placed in major paint, wallcovering and home improvement retail outlets, and customers can purchase or order samples of wallcovering from numerous manufacturers directly from the kiosks. Big Apple Wallcovering, Inc. will become the exclusive seller of wallcoverings for retailers where kiosks are installed. Further discussions with several more major retailers will continue to build upon that momentum. The retailers that have expressed strong interest or have signed up for a pilot program manage over 18,000 retail locations and are very well known names in the home improvement and décor markets.
Big Apple Wallcovering continues to increase its specifications to supply wallcovering for various sources including, among others, the Trump hotels and casinos, the Baymont Inn & Suites luxury hotel in Mackinaw City, Michigan , the Helmsley Hotels, Bloomingdale's Department stores, the high-rise Waterford House condominium in Virginia and the retrofitting program for U.S. Navy ships.
"When you have an opportunity to revolutionize an industry, you take it. Many of the retailers that we now have agreements with previously did not sell wallcovering in their stores, and we have seized the opportunity to fill that niche. Other retailers who currently sell wallcovering are expressing great interest in the 'No More Books' kiosks because of the space that they can save and the ease with which customers can place orders. We have a very capable fulfillment company handling the shipment of samples and the production and installation of the kiosks, and the rollout is going remarkably well," stated Neal Jablon, CEO and President of Big Apple Worldwide, Inc.
Big Apple Worldwide's subsidiary, Big Apple Travel, Inc. , has also enjoyed a successful year with the opening of satellite locations throughout the U.S. to better capitalize on local leisure and business travel. It gave back to the community by becoming the exclusive international travel agency of the Make-A-Wish® Foundation of Central and Northern Florida , and it set up a travel fund enabling visitors to donate directly to the Foundation.
To listen to Big Apple Worldwide's CEO and President, Neal Jablon, recap 2007 in a recent WallSt.net interview, please visit the following link: www.wallst.net/audio/audio.asp?ticker=BPWI&id=4148.
To read the 2007 Letter to Shareholders from Big Apple Worldwide's CEO, Neal Jablon, please visit the Company's Investor Relations page at www.bigappleworldwide.com/investor_relations.html.
For more information, and to view an informational video about Big Apple Wallcovering's "No More Books" program, please go to the following link: www.bigapplewallcovering.com/No_More_Books.html.
About Big Apple Worldwide, Inc. :
Big Apple Worldwide, Inc. (www.bigappleworldwide.com) is a holding company focused on serving the hospitality, leisure and retail market. Big Apple Wallcovering, Inc. (www.bigapplewallcovering.com) is a wholly owned subsidiary of Big Apple Worldwide and has inspired the Architecture and Design community with cutting-edge design and the manufacturing of architectural Wallcovering and fabrics for hospitality, private offices and commercial interiors. Big Apple Wallcovering now enters the retail industry, placing its "NoMoreBooks™" Kiosks into Major Retailers across the country. Big Apple Worldwide, Inc. also recently purchased Elabrient Surfaces (www.elabrient.com), which is a commercial interior design development and manufacturing company specializing in commercial Wallcovering. Big Apple Travel, Inc. (www.bigappletravel.com), a wholly owned subsidiary of Big Apple Worldwide, Inc. , is a full-service travel agency and features a next generation travel salon in Orlando, Florida .
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
To automatically receive instant updates, press releases, and other information on this and other Big Apple Consulting USA companies, please visit www.bigappleconsulting.com/compro.php and download your FREE copy of Big Apple ComPro.
Contact:
For more information, visit:
www.bigappleworldwide.com
or
Investor Relations
(866) THE APPL(E)
wszl (18.0) itex (.96) Western Sizzlin Corporation Commences Exchange Offer for ITEX Corporation
Thursday, December 27 2007 7:59 AM, EST PR Newswire "US Press Releases "
ROANOKE, Va., Dec. 27 /PRNewswire-FirstCall/ -- Western Sizzlin Corporation (OTC Bulletin Board: WSZL) today announced that it has commenced an exchange offer for all outstanding shares of ITEX Corporation (OTC Bulletin Board: ITEX). The exchange ratio for the offer is .06623 shares of Western common stock for each outstanding share of ITEX common stock. Following completion of the exchange offer, Western intends to consummate a second-step merger in which each remaining share of ITEX common stock would be converted into the right to receive the same number of Western shares as paid in the exchange offer.
On December 26, 2007 , the closing price of a share of Western common stock was $18.00 , whereas the closing price of a share of ITEX common stock was $0.96 . Based on these closing prices and the exchange ratio in the offer, the Western offer has a value of $1.19 per ITEX share and a total transaction value of over $21 million . This figure represents a 24% premium over ITEX's closing share price on December 26, 2007 , a 38% premium over ITEX's six-month average closing share price through December 26, 2007 and a 48% premium over ITEX's one-year average closing share price through December 26, 2007 . Western has applied to have its common stock listed on the Nasdaq Capital Market.
Western seeks to acquire ITEX because it believes all stockholders will benefit for the following reasons:
1) Intrinsic Value and Capital Allocation. Western's holding company
structure would allow surplus cash generated by its subsidiaries,
including ITEX, to be channeled to the parent for reallocation in
pursuit of attaining high risk-adjusted returns. Furthermore, as ITEX's
parent, Western could provide financing, on an opportunistic basis,
which could be applied toward acquiring other barter businesses.
Western's objective is to maximize its intrinsic business value per
share over the long term.
2) Cost Savings. The elimination of redundant public company costs,
Western believes, would eventuate into material savings in expenses.
Western believes the reduction of expenses would increase cash flows,
representing, in turn, a discernible basis for a higher valuation for
the combined company.
3) Opportunities. Western believes there are significant possibilities to
increase ITEX's bartering transactions through Western's other
subsidiaries as well as through the businesses Western may purchase in
the future.
In addition to these three main reasons, Western also believes that its acquiring ITEX would result in a larger combined market capitalization, which along with the anticipated listing on the Nasdaq Capital Market would enhance liquidity and reduce transaction costs for stockholders wishing to enter or exit the stock. ITEX is currently quoted on the OTC Bulletin Board. Pro forma for the transaction, Western would have had a market capitalization today of approximately $70 million .
Most importantly, Western is proposing to issue its common stock to ITEX stockholders in the offer to allow them to participate in the growth and opportunities of the combined company. Western believes that joining the companies would improve the diversity of operations, earning power, and reinvestment of cash flows for growth. Accordingly, Western believes that the combination of Western and ITEX would have significant long-term benefits because two entities would increase intrinsic business value per share for stockholders at a higher rate than they could separately.
Western believes the holding company structure, such as the one at Western, is ideal for businesses like ITEX's because capital allocation responsibility is separated from the authority to make operating decisions. Thus, management of a subsidiary can focus on overseeing day-to-day operations, whereas management of Western can focus on allocating capital. Western intends to operate ITEX's business, including its broker network and member businesses, in the manner in which it is currently conducted following the consummation of the transaction. Western believes its business model and financial resources would construct an optimal platform to create value for long-term stockholders.
About The Exchange Offer
The exchange offer is conditioned upon, among other things, the registration statement for the issuance of Western shares in the exchange offer being declared effective by the Securities and Exchange Commission ; 60% of ITEX's shares being validly tendered in the exchange offer and not withdrawn; Western being satisfied in its reasonable discretion that the Nevada anti-takeover statutes will not be applicable; the expiration or termination of any waiting periods under applicable antitrust laws; the receipt of all required consents under the terms of ITEX's debt agreements; the listing of Western's common stock on Nasdaq or another national securities exchange; and, to the extent required by the rules of any such exchange, stockholder approval of the issuance of Western shares in the offer, which the executive officers and directors of Western have the voting power to approve. The complete terms and conditions of the exchange offer are set forth in the registration statement and the other offering documents filed today by Western with the Securities and Exchange Commission .
The exchange offer is scheduled to expire at 5:00 p.m. , New York City time, on Thursday, January 31, 2008 , unless extended.
Morrow & Co., LLC is acting as Information Agent for the exchange offer.
This press release is for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any securities. Any exchange offer will be made only through a registration statement and related materials. In connection with the exchange offer, Western has filed a registration statement on Form S-4 (containing a prospectus) with the Securities and Exchange Commission . Investors and stockholders of ITEX are advised to read these disclosure materials (including other disclosure materials when they become available) carefully because they contain (and will contain) important information. Investors and stockholders may obtain a free copy of the disclosure materials and other documents filed by Western with the Securities and Exchange Commission at the SEC's website at www.sec.gov. A free copy of the disclosure materials and other documents of Western may also be obtained from Western upon request by directing such request to the Information Agent, Morrow & Co., LLC , 470 West Avenue, Stamford, CT 06902, E- mail: offer.info@morrowco.com. Banks and brokerage firms please call: (203) 658-9400. Stockholders call toll free: (800) 607-0088.
About Western Sizzlin Corporation
Western Sizzlin Corporation is a holding company which owns a number of subsidiaries. Its most important business activity is conducted through Western Sizzlin Franchise Corporation , which franchises and operates 123 restaurants in 19 states. Financial decisions are centralized at the holding company level, and management of operating businesses is decentralized at the business unit level. Western's prime objective is to maximize its intrinsic business value per share over the long term. In fulfilling this objective, Western will engage in a number of diverse business activities to achieve above-average returns on capital in pursuit of maximizing the eventual net worth of its stockholders.
Forward-Looking Statements
This release contains forward-looking statements relating to Western Sizzlin Corporation's exchange offer for all of the outstanding shares of ITEX Corporation common stock and Western's expectations with regard to the proposed transaction. These forward-looking statements are based on Western's current intent, expectations, estimates and projections and are not guarantees of future performance. These statements involve risks, uncertainties, assumptions and other factors that are difficult to predict and that could cause actual results to vary materially from those expressed in or indicated by them. In addition, some factors are beyond Western's control. Factors that could cause actual results to differ materially from the statements made in this release include, among others: (i) the willingness of ITEX stockholders to tender their shares in the exchange offer and the number and timing of shares tendered; (ii) the satisfaction, or waiver by Western to the extent legally permissible, of all conditions to the exchange offer; (iii) Western's and ITEX's ability to receive any and all necessary approvals, including any necessary governmental or regulatory approvals; and (iv) other factors as described in filings with the Securities and Exchange Commission , including the factors discussed under the heading "Risk Factors" in Western's prospectus included in its registration statement on Form S-4 as filed with the Securities and Exchange Commission on December 27, 2007 .
SOURCE Western Sizzlin Corporation
LDIS (2.7) Leadis Technology Announces Advanced Low Power QVGA 16M Color AMOLED LCD Driver IC
Thursday, December 27 2007 7:58 AM, EST Market Wire "US Press Releases "
SUNNYVALE, CA -- (MARKET WIRE) -- 12/27/07 -- Leadis Technology, Inc. (NASDAQ: LDIS), an analog and mixed-signal semiconductor developer of color display drivers, LED drivers, and audio ICs for mobile consumer electronic devices, today announced sample availability of the LDS532, a QVGA 16M color AMOLED LCD driver IC. The device has full memory and incorporates state-of-the-art features such as ABC (Automatic Brightness Control), ALS (Ambient Light Sensor), ACL (Automatic Current Limitation), Power Detector and RGB Separate Gamma.
The LDS532 16M color OLED LCD driver IC is the first AMOLED driver to fully support Nokia's Gen 3 display driver specification. The state-of-the-art features of the LDS532 allow this device to be ideal for low power applications such as those required by DMB (Digital Multi-Media Broadcasting), moving pictures, and wireless internet multimedia applications.
"With this LCD driver we are taking a leadership position in the emerging AMOLED Mobile Display Market," said Keeho Kim, GM of the Driver Business Unit at Leadis. "This is only the first of many products that we are developing for the AMOLED market."
About AMOLED (Active Matrix Organic Light Emitting Diode) Technology
AMOLED Technology offers key advantages of fast switching speeds, outstanding viewing angles, vivid colors, low power consumption and competitive costs. Adoption of AMOLED technology into high volume consumer markets has been hampered by major drawbacks such as poor manufacturing yields, image sticking, short life times, and differential color aging.
AMOLED technology is expected to capture significant market share in the competitive FPD market of small screens for mobile phones and portable digital audio players (MP3 players), car radios, digital cameras and high-resolution microdisplays for head-mounted displays. Such portable applications favor the high light output of AMOLEDs for readability in sunlight, and their low power drain.
For more information, visit www.leadis.com.
About Leadis Technology, Inc.
Leadis Technology, Inc. , headquartered in Sunnyvale, California , designs, develops and markets analog and mixed-signal semiconductors that enable and enhance the features and capabilities of mobile and consumer electronics devices. Leadis' product offerings include color display drivers, which are critical components of displays used in mobile consumer electronic devices; LED drivers, which provide controlled levels of current required to drive light emitting diodes in diverse applications including mobile backlight units; and audio CODEC and FM transmitter ICs, which are integral components in mobile media players and their associated aftermarket accessories. Leadis currently supplies display drivers supporting the major small panel display technologies, including a-Si and LTPS TFT LCDs, color STN LCDs, and color OLED displays, LED drivers supporting mobile backlighting applications, and audio ICs supporting portable media players and aftermarket audio accessories.
Certain statements in this press release including, but not limited to, the features and benefits of Leadis' new AMOLED LCD driver IC, the anticipated benefits of AMOLED technology for flat panel displays, and the anticipated market adoption of AMOLED technology are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Such risks and uncertainties include, but are not limited to, lack of market adoption for AMOLED technology for small panel displays, delays in ramping new products into production, lack of market acceptance of our new AMOLED products, that pending patent applications will not result in issued patents or that any issued patents may not be sufficiently broad to protect our proprietary technologies, delays in the integration of our ICs into consumer electronic devices, our reliance on third-party manufacturers, general mobile handset and semiconductor industry trends, and other risks detailed from time to time in Leadis' reports filed with the Securities and Exchange Commission including its Form 10-K for the year ended December 31, 2006 and Form 10-Q for the quarter ended September 30, 2007 . Leadis disclaims any obligation to update these forward-looking statements.
Note to Editors: Leadis Technology will be participating as an exhibitor at the Consumer Electronics Show in Las Vegas from the 7th through the 10th of January 2008 . Private live product demonstrations will be held at their designated hospitality suites at the Las Vegas Hilton . Viewing is by appointment only. Interested parties can contact Media Contact, Elizabeth Estrella-Basilio or Marketing Communications Director, Tracy Lam for further information.
Contact Information:
Tracy Lam
Director, World-Wide Marketing Communications
Leadis International Ltd.
Tel: 852-21528880
Media Contact:
Elizabeth Estrella-Basilio
Cross Border Communications SFO Inc.
Email Contact
(408) 348-7538
avsy (.5) Avatar Systems, Inc. Reports Third Quarter and Nine Month Results
Thursday, December 27 2007 7:58 AM, EST Market Wire "US Press Releases "
FRISCO, TX -- (MARKET WIRE) -- 12/27/07 -- Avatar Systems, Inc. (PINKSHEETS: AVSY) announced 3rd Quarter and nine month results for the period ending September 30, 2007 . Revenues for the 3rd Quarter were $1,009,019 and decreased 1.0% over the corresponding period of 2006 which had revenues of $1,019,553 . For the nine month period, 2007 revenues were $2,948,691 compared to $2,441,431 for 2006, a 20.8% increase. Maintenance revenues for the 3rd Quarter increased 37.1% to $656,043 from $478,439 in 2006.
Net loss was $18,766 for the 2007 3rd Quarter compared to $57,305 net income for 2006. Net Income was impacted by a significant increase in amortization expense and interest expense, which are related to the Questa acquisition made in August of 2006. Amortization expense (non-cash) increased $189,747 and interest expense increased ( $65,563 ) for the 3rd Quarter of 2007 versus the 3rd Quarter of 2006.
Chuck Shreve, President and Chief Executive Officer of Avatar Systems, Inc. , commented, "Our maintenance revenues provide the foundation for our company to continue providing world-class customer support and improve the features in our products. We have several major new product releases for the coming year in 2008. We anticipate tremendous growth within our current client base with the planned new releases. Avatar continues to improve upon its products and services offering while staying focused on customer support. Our customers are investing in better technology and information systems and Avatar is directly benefiting. We expect continued strong demand and improved performance as we move forward."
Avatar Systems' Headquarters are in Frisco, Texas, USA with branch offices in Midland and Tyler, TX. The Company provides ERP / Accounting Software and Computing Infrastructure Solutions for companies engaged in the petroleum exploration and production industry. Avatar has a growing customer base on its Petroware2000(TM), Integra Energy(TM) products for Microsoft Windows, Avatar400(TM) on the IBM AS400 platform, and subscribers utilizing its Software as a Service (SaaS) On-Demand ASP services. Avatar's products and services provide an excellent resource for critical information management requirements of the petroleum industry. Avatar also provides document imaging, workflow and business process management as well as disaster recovery and remote backup services for all vertical markets.
The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements to the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectation or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, product development and acceptance, the impact of competitive services and pricing, or general economic risks and uncertainties.
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Contact:
Chad P. Statham
Director of Sales & Marketing
Avatar Systems, Inc.
(972) 720-1800 x127
(972) 989-3355 mobile
ebig (.1) EastBridge Investment Group Opens Beijing Office
Thursday, December 27 2007 7:58 AM, EST Market Wire "US Press Releases "
PHOENIX, AZ -- (MARKET WIRE) -- 12/27/07 -- EastBridge Investment Group Corporation (www.EbigCorp.com) (OTCBB: EBIG) today announced it has obtained the approval from the local authority in Beijing , capital of China , to begin operation as an investment company's representative office to serve its Chinese clients.
EastBridge's new office is housed in the office tower of Kunlun Hotel , a well-known five star hotel in the heart of Beijing's CBD district, next to the Lufthansa Plaza. It will be fully operational in January of 2008 to serve existing and new clients. EastBridge will utilize the new Beijing office for audit work to prepare Chinese clients to go public in the United States .
EastBridge Investment Group focuses on small to medium-size high-growth companies in the Far East including China and India offering IPOs, Joint Ventures and Merchant Banking services. The Company targets industries in electronics, real estate, auto, metal, energy, environmental, bio science and food retail distribution. EastBridge and EastBridge shareholders will ultimately own a diversified portfolio of growing international companies.
To listen to the CEO's interview by Kilian Brandon, senior analyst of Wall Street Reporter: http://www.wallstreetreporter.com/page.php?page=featured&id=27650. To view the analyst's report by Chris Gupta, CFA, senior equity stock analyst: http://www.ebigcorp.com/EBIG/Home/Ebig_Analysts_Report.pdf.
The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements to the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectation or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, fluctuations in foreign currency exchange, the impact of competitive services and pricing, or general economic risks and uncertainties.
Contact:
Norm Klein
EastBridge Investment Group Corp.
480-966-2020
480-966-0808 (fax)
Email Contact
Investor Relations:
Jack Eversull
The Eversull Group, Inc.
972-378-7917
972-378-7981 (fax)
Email Contact
avnt (.0003) Aventura Acquires Technology and Marketing Rights
Thursday, December 27 2007 6:59 AM, EST PrimeNewswire "PrimeNewswire "
FORT LAUDERDALE, Fla ., Dec. 27, 2007 (PRIME NEWSWIRE) -- Aventura Holdings, Inc. (OTCBB:AVNT) announces today the acquisition of technology and marketing rights for an IPTV solution for broadcasters and content providers from IPWebTV, Inc. , a Delaware Corporation .
Craig A. Waltzer, Chief Executive Officer for Aventura, said, "The IPTV broadcast technology acquired by Aventura from IPWebTV, Inc. ( Delaware ) is the first strategic purchase towards the Company's future direction. Aventura plans to capitalize on its new property by marketing custom infrastructure solutions to Internet Service Providers ('ISP') and Content Service Providers ('CSP'). Aventura will operate the business under a newly formed wholly-owned subsidiary IPWebTV, Inc. , a Florida Corporation ."
Waltzer stated, "The market for IPTV solutions is in its infancy and the market has caught the eye of Information Technology industry leaders. The bellwethers such as Cisco, Microsoft, Alcatel and Motorola have all launched product offerings on the hardware, software or solution side of the equation."
Waltzer further stated, "According to an Infonetics Research report, worldwide subscribers are predicted to swell to 53 million by 2009 with service providers investing rapidly on IPTV content and transport equipment. The Infonetics report projects in 2009, $26 billion in capex expenditures for IPTV infrastructure."
Waltzer concluded: "The Company anticipates immediately generating revenues as it has a ready-for-market solution. At the early stages, sales of the product shall focus on back-end operations, by providing testing and verification hardware and software solutions to broadcasters and carriers in the IPTV space. We believe that this niche market provides several unique opportunities for Aventura to grow out the business model. The Company will continue to seek out strategic opportunities domestically and abroad and team with other industry leaders to build on its newest platform of product offerings and expand that research to include content delivery systems."
The purchase price for the transaction is five hundred (500) Shares of Non-Voting Convertible $0.001 Par Value Preferred Stock (the "Preferred Stock") of the Company. The Preferred Stock is convertible into 500 Million Shares of the Company's Common Stock.
About Aventura Holdings, Inc.
Aventura Holdings, Inc. owned subsidiaries are geared towards providing video surveillance products and systems as well as custom infrastructure solutions to Internet Service Providers ("ISP") and Content Service Providers ("CSP"). Additional information can be found on the Company's website: www.Aventura-Holdings.com
About IPWebTV, Inc.
IPWebTV, Inc. is an industry leading designer, developer and manufacturer of streaming media fixed and mobile solutions for the broadcast, satellite and IP marketplace.
Safe Harbor
This press release may contain "forward-looking statements." Although Aventura Holdings, Inc. believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Aventura Holdings, Inc. assumes no obligation to update those statements to reflect actual results, changes in assumptions and other factors. The forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those projected. Additional information that could lead to material changes in performance is contained in filings with the Securities and Exchange Commission .
CONTACT: Aventura Holdings, Inc.
Craig A. Waltzer
(305) 937 2000
lgcc (.03) Legacy Purchases Radio Station KHWK(FM) Tonopah, Nevada
Thursday, December 27 2007 6:58 AM, EST Market Wire "US Press Releases "
ST. GEORGE, UT -- (MARKET WIRE) -- 12/27/07 -- Radio Tonopah, LLC , a wholly owned subsidiary of Legacy Communications Corporation (OTCBB: LGCC), has purchased the option to acquire Radio Station KHWK(FM) 92.7MHz, Tonopah, Nevada from Donald W. Kaminski, Jr. The station operates from 6, 744' Mt . Oddie at 6kw ERP. The purchase is subject to approval of the Federal Communications Commission .
Legacy Communications Corporation is a holding company that acquires radio station licenses and permits for development, operation and sale. The company seeks out broadcast properties that have significant upside potential when provided proper management, engineering, programming and marketing.
Legacy owns nine (9) other stations: KPTO(AM) 1440kHz, Pocatello, Idaho , KITT(FM) 100.1MHz, Soda Springs, Idaho , KNFL(AM) 1470kHz, Tremonton, Utah , KOGN(AM) 1490kHz, Ogden, Utah , KENT(AM) 1400kHz, Parowan, Utah , KDAN(AM), 1240kHz, Beatty, Nevada , KTNP(AM) 1400kHz, Tonopah, Nevada , KIFO(AM) 1450kHz, Hawthorne, Nevada and KACE(AM) 1340kHz, Bishop, California .
The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements to the future financial performance of the Company. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include but are not limited to, successful performance of internal plans, product development and acceptance, the impact of competitive services and pricing, or general economic risks and uncertainties.
To join our email distribution list, click the link below: http://www.b2i.us/irpass.asp?BzID=1432&to=ea&s=0
Contacts:
Legacy Communications Corporation
Morgan Skinner
(435) 628-1000
(435) 628-6636 (fax)
morgan@legacy.cc
Investor Relations:
The Eversull Group, Inc.
Jack Eversull
(972) 378-7917
(972) 378-7981 (fax)
jack@theeversullgroup.com
AVNX (1.37) Avanex Files Arbitration Complaint Against 3S Photonics
Thursday, December 27 2007 6:58 AM, EST Business Wire "US Press Releases "
FREMONT, Calif.--(BUSINESS WIRE)--
Avanex Corporation (NASDAQ:AVNX), a pioneer of intelligent photonic solutions that enable next-generation optical networks, today reported that it filed an arbitration complaint in New York against 3S Photonics, of Marcoussis, France . The arbitration complaint alleges various breaches by 3S Photonics of its obligations to Avanex, including that 3S Photonics prematurely terminated its exclusive distribution agreement with Avanex.
As a result of 3S Photonics' termination of the distribution agreement, Avanex expects that revenue for the second fiscal quarter of 2008, ending December 31, 2007 , will be in the range of USD 51 - USD 53 million , compared to USD 54.7 million in the prior quarter and USD 55.6 million in the second quarter of fiscal 2007 and will fall below the low end of its earlier announced guidance for the quarter of USD 56 - USD 58 million . Avanex does not expect to receive future distribution revenue associated with 3S Photonics, which will reduce Avanex's revenue for the third fiscal quarter, resulting in flat to slightly lower revenues for the third fiscal quarter compared to the second fiscal quarter. Avanex believes gross margins for the second fiscal quarter will generally be consistent with the prior quarter.
Avanex will present at the Needham Conference in New York January 8th, 2008 , at 4:30 pm EST . Avanex plans to release its second fiscal quarter results and hold a conference call to discuss its business outlook in late January or early February 2008 .
About Avanex Corporation
Avanex Corporation is a leading global provider of Intelligent Photonic Solutions(TM) to meet the needs of fiber optic communications networks for greater capacity, longer distance transmissions, improved connectivity, higher speeds and lower costs. These solutions enable or enhance optical wavelength multiplexing, dispersion compensation, switching and routing, transmission, amplification, and include network-managed subsystems. Avanex Corporation was incorporated in 1997 and is headquartered in Fremont, Calif. Avanex Corporation also maintains facilities in Horseheads, N.Y.; Melbourne, Fla .; Shanghai ; Villebon Sur Yvette, France ; San Donato, Italy ; and Bangkok . To learn more about Avanex Corporation , visit our web site at: www.avanex.com.
Forward-looking Statements
This press release contains forward-looking statements including statements regarding expected second quarter and third quarter of fiscal 2008 outlook and operating results, market demand and growth trends for our products and our strategies. Actual results could differ materially from those projected in or contemplated by the forward-looking statements. Factors that could cause actual results to differ include the company's ability to close business as expected this quarter in general and as a result of this press release, adjustments made in connection with closing the quarter and releasing financial statements, general economic conditions, the pace of spending in the telecommunications industry and in particular the optical networks industry, market demand and price of our products, the company's ability to sufficiently anticipate market needs and develop products and enhancements that achieve market acceptance, problems related to realizing the benefits of the divestiture in France , the company's ability to effect its restructuring goals, unanticipated costs and expenses or the inability to identify expenses which can be eliminated, any slowdown or deferral of orders for products or the application of accounting or tax principles in an unanticipated manner.
Finally, please refer to the risk factors contained in the company's SEC filings including the company's Annual Report on Form 10-K filed with the SEC on Sept. 7, 2007 , Quarterly Report on Form 10-Q filed with the SEC on Nov. 2, 2007 and subsequent filings with the SEC.
Avanex assumes no obligation and does not intend to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: Avanex Corporation
mfia (?) Remington Reels In Marlin Firearms: Deal To Acquire North-Haven Based Gun Maker May Close By Jan. 31 [The Hartford Courant, Conn.]
Thursday, December 27 2007 6:34 AM, EST Knight Ridder/Tribune "Business News "
Dec. 27 --Two of the nation's oldest gun manufacturers agreed to join forces Wednesday as Remington Arms Co. Inc. , announced that it would acquire Marlin Firearms Co. , a North Haven-based firm that was established in 1870.
The transaction is expected to close by the end of January, according to a press release issued by Remington Arms, based in Madison , N.C. It is one of the nation's oldest continuously operating manufacturers
Marlin Firearms, a family-run business since 1924, produces rifles, shotguns and muzzle loaders and other firearms at its manufacturing plants in North Haven and Gardner, Mass.
Its brands include Marlin, Harrington and Richardson, New England Firearms and L.C. Smith.
"We knew it was time to find the right partner for Marlin to ensure our brands maintain their leadership positions and move into the next century," Frank Kenna III, Marlin's chairman, said in a press release Wednesday.
Under the agreement, Robert Behn will remain as president of Marlin. The price of the transaction was not released. No one from either company would comment on the number of workers employed by Marlin or whether its corporate headquarters and operations will remain in North Haven.
"The opportunity to combine two historic U.S. based companies with such storied and proud histories is both challenging and exhilarating," Tommy Millner, chief executive officer of Remington said in a press release.
In 2004, Remington had revenue of $393 million , according to the company's website.
Famed sharpshooter Annie Oakley, who toured with Buffalo Bill's Wild West show in the 1880s, reportedly owned a Marlin lever action .22 repeater rifle -- Model 39, experts say.
"Marlin is really one of the great old names in the gun business," said Herbert Houze of Cody, Wyo., the guest curator for "Samuel Colt: Arms, Art and Invention," a traveling exhibit sponsored by the Wadsworth Atheneum Museum of Art .
"Remington is one of the great companies, too," Houze said. "It's an equal, except it's bigger."
Marlin was founded by John M. Marlin. During the Civil War, he worked at the Colt plant in Hartford . In 1870 he "hung out his sign on State Street in New Haven , manufacturing his own line of revolvers and derringers," according to Marlin's website.
In 1924, Frank Kenna bought Marlin and the Kennas have owned and run it since, the company website says.
"I'm happy that Marlin was bought out by a gun company rather than a venture capitalist. A marriage with Remington is a good thing," Houze said.
Contact Janice Podsada at .
To see more of The Hartford Courant, or to subscribe to the newspaper, go to http://www.courant.com/.
Copyright (c) 2007, The Hartford Courant, Conn.
Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc. , 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
itex (.96) ITEX Announces Record-Setting Operating Cycle
Thursday, December 27 2007 5:58 AM, EST PR Newswire "US Press Releases "
BELLEVUE, Wash., Dec. 27 /PRNewswire-FirstCall/ -- ITEX Corporation (OTC Bulletin Board: ITEX), The Membership Trading Community(SM), a leading marketplace for cashless business transactions in North America , today announced the results of its most recent operating cycle, ending December 20, 2007 . We have thirteen, 28-day operating cycles each fiscal year. December is traditionally our best cycle of the fiscal year.
We set a number of company records during our most recent operating cycle (all numbers are unaudited) including:
-- $26,578,884 in business to business combined transaction volume
("CTV")
-- Six licensees surpassed the $1 million dollar CTV level
-- The number one office during the period was a Southern California
franchise, whose numbers topped $1.7 million ; triple their CTV for the
same period in 2006
-- 22 offices set personal records; exceeding their CTV for any previous
period
-- ITEX cash billings topped $1.6 million for the period.
"Our three company-owned stores ( San Francisco , Chicago and Cleveland ) doubled their CTV compared to the first billing cycle after their acquisition just 5 months ago," noted Steven White, Chairman and CEO. "This is a positive sign that our initiatives and integration have taken a strong foothold.
"We are very pleased with the depth and breadth of the growth achieved. Growth occurred on many levels at a large number of our offices," continued Mr. White. "Our high level of transaction volume translates into increased cash transaction fees, another shared reward of our efforts. Although the operating cycle just preceding the Christmas holiday is generally our highest, we hope to continually set additional records throughout the remaining portion of our fiscal year. These numbers are not necessary indicative of our performance for the quarter or the year, but we do believe they indicate that we are gaining traction with our strategic initiatives."
About ITEX - ITEX, The Membership Trading Community SM, is a thriving community of member businesses buying and selling more than $250 million a year in ITEX dollar transactions. Member businesses increase sales through an exclusive distribution channel managed by franchisees, licensees and corporate-owned locations, by utilizing ITEX dollars to exchange goods and services. ITEX is powered by ITEX Payment Systems, the leading payment technology platform for processing cashless business transactions. ITEX is headquartered in Bellevue, WA.
This press release contains forward-looking statements that involve risks and uncertainties concerning our expected performance (as described without limitation in the quotations from current management in this release) and comments within the safe harbor provisions established under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of our future performance. We believe that these potential risks and uncertainties include, without limitation: the continuing development of successful marketing strategies for our concepts; our ability to increase revenues and sustain profitability; the availability of adequate working capital; our dependence both on key personnel and our franchise network; and the effect of changes in the overall economy and in technology. Statements in this release should be evaluated in light of these factors. These risk factors and other important factors that could affect our business and financial results are discussed in our periodic reports and filings with the Securities and Exchange Commission , including our Forms 10-KSB and Forms 10-QSB, which are available at www.sec.gov., including under the caption, "Management's Discussion and Analysis of Financial Condition and Results of Operations." All information set forth in this release is as of December 27, 2007 , and ITEX undertakes no duty to update this information.
For more information, please visit http://www.itex.com
SOURCE ITEX Corporation
efgu (4.74) Empire Film Group Reports Strong Retail Support for First Quarter 2008 DVD Releases
Thursday, December 27 2007 5:58 AM, EST Market Wire "US Press Releases "
LOS ANGELES, CA -- (MARKET WIRE) -- 12/27/07 -- Empire Film Group, Inc. (PINKSHEETS: EFGU) reports strong response from mass merchants and video retailers for the slate of new release DVDs from Empire Home Entertainment . Retailers supporting the first quarter titles include Best Buy, Borders, Costco, Target and Wal-Mart, along with many thousands of independently owned and operated video specialty retailers.
"We are encouraged by the strong response from the retail community to our principal first quarter 2008 new releases," said Eric Parkinson, C.E.O. of Empire Home Entertainment and Hannover House. "We are privileged to have a mix of quality DVD titles that meet the stringent and competitive requirements of these key retailers, and feel optimistic for the coming year."
"The Company's acquisition of Hannover House and creation of Empire Home Entertainment is proving to be a viable, successful and strategic decision for Empire Film Group ," stated Mr. Dean Hamilton Bornstein, CEO of Empire Film Group, Inc. "We are encouraged by the retail support the Company is receiving for its first quarter 2008 releases."
Principal new DVD releases on the Empire Home Entertainment label include "Come Away Home," an award-winning theatrical release starring Lea Thompson ("Back to the Future") and Thomas Gibson ("Dharma & Greg"); "The Hilarious Saints of Comedy," an urban-gospel themed comedy program starring Chucky Jenkins and comedians from Black Entertainment Television; "Teen Yoga," an instructional-exercise and lifestyle program starring Miss Teen USA (2005), Allie LaForce; "The Fun Park," a sci-fi / horror thriller about teens stalked by a killer clown; and "Fat Rose & Squeaky," a Showtime premiere feature starring Academy Award winner Louise Fletcher and Emmy winner Cicely Tyson.
Empire Home Entertainment also reports strong retailer support for re-priced catalog DVDs including: "Grand Champion," a family-adventure with Emma Roberts, Julia Roberts and Bruce Willis; " Animal Clinic ," an original feature from Animal Planet Television starring Ione Skye and Mike Farrell; and "Ambrose Bierce: Civil War Stories," an action-drama starring Campbell Scott and Vivian Schilling.
The Empire Home Entertainment catalog consists of more than 100 film, DVD and book titles from the recent acquisition of Hannover House by parent company, Empire Film Group, Inc.
About Empire Film Group, Inc.
Empire Film Group, Inc. ("EFG") is a new independent film finance, production, and distribution company led by a management team with over 20 years of experience in development, production, distribution, finance and marketing of feature films and television programming. The group has filmed in various locations worldwide including the United States , Canada , the Caribbean, Central and South America and Europe . The Company has the unique financing advantage of being able to receive Canadian subsidies, tax incentives, rebates and financing through its ability to produce Canadian Content film and television projects.
Learn more about Empire Film Group by visiting, www.empirefilmgroup.com
About Rogers & Cowan
Rogers & Cowan is the world's leading entertainment public relations and marketing agency with offices in Los Angeles , New York , London and Beijing . The agency designs and implements campaigns for entertainment clients, such as film production and distribution companies, cable and network TV programming, record labels, recording artists, celebrities and athletes, videogame publishers and distributors and digital media companies. Rogers & Cowan also creates integrated marketing solutions for consumer and technology brands seeking to build a connection with consumers through entertainment and lifestyle influences. Find out more at www.rogersandcowan.com. Rogers & Cowan is a unit of the Interpublic Group of Companies .
About AGORACOM Investor Relations Corp.
http://www.agoracom.com
http://www.AgoraIR.com
AGORACOM Investor Relations is North America's leading outsourced investor relations firm for small-cap companies. AGORACOM's exclusive IR HUB delivers two-way investor relations and communications that provides 100% transparency, accessibility, equality and near real-time communications for all shareholders and the investment community.
AGORACOM has specialized in small-cap investor relations since 1997 and is the exclusive provider of all small-cap content to Yahoo Finance Canada, The AOL Small Cap Channel and every Blackberry device on the planet.
CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements," which are statements related to future, not past, events. In this context, the forward-looking statements often include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks" or "will." Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of strategic partner incentives, (c) the future regulatory environment, (d) our cost of financing, (e) our ability to complete acquisitions and dispositions and the risks associated therewith, and (f) our ability to retain key personnel. These factors, as well as additional factors, could affect our forward-looking statements. We urge you to carefully consider this information. We undertake no duty to update our forward-looking statements, including our earnings outlook.
Contact:
COMPANY CONTACT:
Empire Film Group, Inc.
433 N. Camden Drive
Suite 600
Beverly Hills, CA 90210
info@empirefilmgroup.com
INVESTOR RELATIONS:
http://www.agoracom.com/IR/EmpireFilm
EFGU@agoracom.com
Entertainment Public Relations:
Rogers & Cowan
Contact:
Julie Polkes
(310) 854-8119
jpolkes@rogersandcowan.com
mmio (.0066) Marmion Industries Announces Purchase Orders Valued at More Than $100,000 for Week Ending 12/23/07
Thursday, December 27 2007 5:58 AM, EST PR Newswire "US Press Releases "
HOUSTON , Dec. 27 /PRNewswire-FirstCall/ -- Marmion Industries Corp (OTC Bulletin Board: MMIO), (the "Company") -- an emerging manufacturer and modifier of heating, ventilation, and air conditioning (HVAC) equipment -- today announced new purchase orders for the week ending December 23, 2007 totaling $100,101.60 .
Commenting on today's news, CEO W.H. Marmion stated, "We are extremely excited to be receiving substantial new purchase orders from customers this late in the year. As evidenced by our quarterly filings with the SEC and our ongoing string of corporate announcements, 2007 has proven to be yet another banner year for Marmion Industries in regards to sales."
Mr. Marmion concluded, "Since we did in fact surpass revenues for all of 2006 during the first nine months of 2007, which marks our third consecutive year of positive revenue growth, our company has been presented with a much welcomed opportunity to further improve its run rate during the fourth quarter. We are very optimistic regarding what 2008 holds for Marmion Industries and look forward to updating the investment community as corporate developments emerge."
About Marmion Industries Corporation
Marmion Air Service specializes in Explosion-Proof Heating, Ventilation, Cooling Pressurization and chemical filtration solutions for mission-critical applications. Our reputation is based on superior equipment and service, from south Texas and Louisiana refineries to drilling rigs and chemical plants in Saudi Arabia and South America . Our products are designed for application in Petro-Chemical, Industrial, Agricultural, wastewater, pulp and paper, elect., medicine, and Aerospace. Marmion Air Service commenced operation in Texas in 1998 in residential and commercial HVAC service. The Texas Department of Licensing and Regulation -- TACLA019367C -- recognizes the company as a contractor in the field of Heat Ventilation and Air Conditioning. The company is in the process of working towards third party certifications on selected manufactured equipment.
Further information on Marmion Industries is available at: http://www.marmionair.com and http://www.microstockprofit.com
Forward Looking Statements
The information in this news release includes certain forward-looking statements that are based upon management's expectations and assumptions about certain risks and uncertainties that can affect future events. Although management believes these assumptions and expectations to be reasonable on the date of this news release, these risks and uncertainties may cause actual events to differ material from managements those contained in this news release. The risks and uncertainties include, but are not limited to, continuing as a going concern, availability and cost of our present vendors and suppliers, and absence of any change in government regulations or other costs associated with data transmission over the Internet or termination of transmissions in foreign countries.
Contact:
Seacoast Advisors
Keith Reinhardt
IR@seacoastadvisors.com
(858) 805-5798
SOURCE Marmion Industries Corporation
wwng (.0119) WW Energy Updates Information on Three Wells in Borden County, Texas
Thursday, December 27 2007 5:58 AM, EST Business Wire "US Press Releases "
FARMINGTON, N.M.--(BUSINESS WIRE)--
WW Energy Inc. (Pink Sheets: WWNG) reported today the two wells have produced in excess of 46,000 barrels of oil. The porosity shows better going toward the west. The Swepi Gray is across the road due west of the Gray property; they border each other. We plan to set a directional shoe in wells #1 & #3 and implement a blast cutting tool that will cut a 4.5 inch horizontal hole in four different directions (four 50-foot horizontal legs). The blast cutting tool will increase and expose more of the formation's face and producible area. The current formation production zone is 40-50 feet thick, per well, the procedure will render approximately 200-250 feet thick.
Total present Borden County field statistics and R.R.C. district 8-A September 2007 production totals 9.3 million barrels of oil and 1.85 BCF of gas per month.
After reworking of wells, we estimate production to be 20-50 barrels per day each.
Today's oil price is approximately $90.00 per barrel. Gas price is approximately $6.00 per 1000 CF.
WW Energy Inc. is a holding company that was created to acquire oil and gas service companies, as well as oil and gas-related assets.
Forward-Looking Statements
A number of statements contained in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. The actual results of WW Energy Inc. may achieve could differ materially from any forward-looking statements due to such risks and uncertainties, including, but not limited to, the fact that no assurance can be given that any proposed acquisitions will be consummated at all.
Source: WW Energy Inc.
rscf (1.2) Reflect Scientific, Inc. Receives a $500,000 Order for Mobile Imaging Systems
Thursday, December 27 2007 5:58 AM, EST Business Wire "US Press Releases "
OREM, Utah --(BUSINESS WIRE)--
Reflect Scientific, Inc. (OTCBB: RSCF) announces Image Labs International , a wholly owned subsidiary of Reflect Scientific, has been awarded a contract totaling over $500,000 to provide the Company's proprietary mobile imaging systems to a major customer. The systems are scheduled to ship in the fourth quarter of 2007.
"The mobile imaging systems are being sold under our Key Customer Program which provides added value to customers that request other services in addition to the equipment. We are excited to see the continued confidence our customers have in the Image Labs technology and our dedicated development and support team," remarked Brian Smithgall, Managing Director, Image Labs International .
About Image Labs International :
Image Labs International is engaged in the design, development and manufacturing of scientific equipment in the areas of automated inspection, measurement and material handling. The Company operates within dynamic capital equipment markets and has been listed on the INC 500 as one of America's fastest growing companies. Image Labs International is a wholly owned subsidiary of Reflect Scientific.
About Reflect Scientific:
Reflect Scientific provides scientific products for the biotechnology, pharmaceutical and medical industries.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission .
For information related to the Reflect Scientific, contact Investor Relations: Michael Dancy, 801-746-3570, email: medancy@allwest.net, or visit: www.reflectscientific.com.
Source: Reflect Scientific, Inc.
sirc (.03)Joplin's Siricomm files for Chapter 11 reorganization [The Kansas City Star, Mo.]
Thursday, December 27 2007 5:28 AM, EST Knight Ridder/Tribune "Business News "
Dec. 27 -- Siricomm Inc. , a Joplin, Mo., provider of Wi-Fi hot spots at truck stops, has filed for Chapter 11 reorganization, listing assets of $3.99 million and debts of $3.91 million .
In a regulatory filing last month, the company said that its core network and Internet provider, ViaSat Inc. , had disabled its connectivity, leaving Siricomm unable to provide service to its customers.
In its Chapter 11 filing, Siricomm listed ViaSat as its biggest unsecured creditor, with unpaid debts of $1.85 million . The debts were listed as disputed.
Siricomm trades publicly over the counter. At midday Wednesday, it was trading for 3 cents a share.
Since its beginning in 2000, Siricomm has installed about 450 Wi-Fi hot spots in 44 states, according to regulatory filings. But the company has been in turmoil for the past year, firing its former chief executive in June and accepting the resignation of its chief financial officer in May.
The Joplin Globe newspaper reported last week that Siricomm had abandoned its Joplin office and that several former employees claimed to be owed thousands of dollars in back pay.
It also said that its former chief executive, Henry P. Hoffman, has sued the company for breach of contract.
Hoffman claims to be owed nearly $188,000 , according to Siricomm's Chapter 11 filing. The company is disputing the amount.
Siricomm officials, including its president, Mark L. Grannell, could not be reached for comment Wednesday.
To reach Dan Margolies, call 816-234-4481 or send e-mail to dmargolies@kcstar.com.
To see more of The Kansas City Star, or to subscribe to the newspaper, go to http://www.kansascity.com.
Copyright (c) 2007, The Kansas City Star, Mo.
Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc. , 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
fcob (7.5) 1st Colonial Bancorp Announces Five Percent Stock Dividend
Wednesday, December 26 2007 3:46 PM, EST Business Wire "US Press Releases "
COLLINGSWOOD, N.J.--(BUSINESS WIRE)--
The Board of Directors of 1st Colonial Bancorp, Inc. (OTCBB:FCOB) has declared a five percent stock dividend to the company's shareholders. The dividend will be distributed on all issued and outstanding shares held of record as of April 1, 2008 and will be payable on April 15, 2008 . Accordingly, each shareholder as of the record date will receive one share of common stock for every 20 shares of common stock that they own on that date, plus an additional share in lieu of any fractional share payable to the shareholder.
1st Colonial's President and Chief Executive Officer, Gerard M. Banmiller, stated: "We are very pleased to announce yet another stock dividend to our shareholders in appreciation for their support. The capital that our shareholders have provided since our formation in June 2000 has allowed us to grow to over $197 million in assets as of September 30, 2007 . Through the first three quarters of 2007, our earnings increased by 8.4% over the same period in 2006, and we anticipate similar growth for the full fiscal year. Unfortunately, our stock price has been adversely affected by the downturn in financial institution stocks generally, caused mostly by the problems at the very large institutions. However, trading at below book value, our stock remains a great buy. We are anticipating our ninth consecutive year of growth in 2008, and we look forward to continuing our emphasis on customer service, loan quality and shareholder value."
1st Colonial Bancorp, Inc. is the holding company for 1st Colonial National Bank , a commercial bank headquartered in Collingswood, New Jersey .
Source: 1st Colonial Bancorp, Inc.
qthe .13, moving on the news
qthe (.02) Korean Environmental Corporation, BSK & Tech Signed LOI to Merger and Acquisition with Quantech Electronics Corp.
Wednesday, December 26 2007 3:07 PM, EST Business Wire "US Press Releases "
LAS VEGAS --(BUSINESS WIRE)--
BSK & Tech Co. Ltd , headquartered in Seoul, South Korea ("BSK"), announces that they have entered into a Merger Agreement with Quantech Electronics Corp. (Pink Sheets: QTHE). BSK is in the business of developing and selling the system and facility to recycle and dispose the food waste. They additionally provide disposal service in the outskirts of Seoul , Korea.
The tentative closing date for this is January 15, 2007 , subject to completion of due diligence by the parties and approval by the parties' boards of directors.
Source: BSK & Tech Co. Ltd and Quantech Electronics Corp.
gspg (.0148) GoldSpring, Inc. Invited to Address Analysts
Wednesday, December 26 2007 2:28 PM, EST PR Newswire "US Press Releases "
GOLD HILL, Nev., Dec. 26 /PRNewswire-FirstCall/ -- GoldSpring, Inc. (OTC Bulletin Board: GSPG) announced today that it has accepted an invitation to address a group of analysts and institutional investors on Wednesday, January 2nd at 1:30pm at the office of Merriman Curhan Ford and Company in San Francisco . GoldSpring, in accordance SEC item 7.01 Regulation FD Disclosure, will be filing an 8-K in connection with the disclosure of information, in the form of the textual information from a powerpoint presentation to be given at this meeting. The Company intends to file this 8-K on or before January 2, 2008 .
GoldSpring, Inc. is a North American precious metals mining company with an operating gold and silver mine in northern Nevada . The Company was formed in mid-2003 and acquired the Plum Mine property located in the Comstock Lode District in November 2003 . In the Company's relatively short history, it secured permits, built an infrastructure and brought the Comstock Lode project into production. Since 2005, the Company started acquiring additional properties around their Comstock Lode project in northern Nevada , expanding its footprint and creating opportunities for exploration. GoldSpring is an emerging company, looking to build on its success through the acquisition of other mineral properties in North America with reserves and exploration potential that can be efficiently put into near-term production. The Company's objectives are to increase production, increase reserves through exploration and acquisitions, expand its footprint in the Comstock, and maximize cash flow and return for its shareholders.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by GoldSpring) contains statements that are "forward-looking," as defined in Section 21E of the Securities Exchange Act, such as statements relating to the future anticipated direction of the high technology and energy industries, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, mining capability and potential contracts. Such forward-looking information involves important risks and uncertainties, which include the risk factors disclosed in our most recent Form 10-KSB filed on April 15, 2005 , that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of GoldSpring. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financial activities, domestic and global economic conditions, changes in federal or state tax laws and market competition factors. These and other factors, which could cause actual results to differ materially, are discussed in more detail in GoldSpring's filings with the Securities and Exchange Commission . Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Contact information for GoldSpring, Inc. :
P.O. Box 1118
Virginia City, NV 89440
Tel 775.847.5272
Fax 775.847.4762
http://www.goldspring.us
Robert T. Faber, President and CEO
(480) 603-5151
(775) 847-5272
E-mail: rfaber@goldspring.us
SOURCE GoldSpring, Inc.
SIRI (3.21) Sirius Satellite Radio Brings Listeners 'Inside' the 2008 Iowa Caucuses and to New Hampshire on Primary Day
Wednesday, December 26 2007 2:27 PM, EST PR Newswire "US Press Releases "
NEW YORK , Dec. 26 /PRNewswire-FirstCall/ -- SIRIUS Satellite Radio (Nasdaq: SIRI) today announced that SIRIUS Left host Alex Bennett will broadcast from the 2008 Iowa Caucuses and the 2008 New Hampshire primary, delivering breaking election news, voter reaction, and analysis straight from the center of two of the nation's biggest political events.
(Logo: http://www.newscom.com/cgi-bin/prnh/19991118/NYTH125 )
The Alex Bennett Program, which airs Monday - Friday from 9:00 am - 12:00 pm ET exclusively on SIRIUS Left channel 146, will be at the heart of the Iowa and New Hampshire political action.
In Iowa , Bennett will take listeners across America "inside" two actual Iowa Caucuses, bringing a firsthand account of the debate, discussion, and procedure by which America's first political choices are made for the 2008 presidential campaign. Bennett will share Caucus results and all the late breaking news from politically influential Iowa on January 3rd and January 4th .
In New Hampshire on primary day, January 8th , and the morning after, January 9th , Bennett will broadcast his show live from the iconic Red Arrow Diner in Manchester . The Red Arrow Diner has become a focal point for many presidential candidates to visit during their campaign stops. Inside the diner Bennett will talk with "everyday Americans" and gauge their interest, passion, and opinions on the ever-important New Hampshire Presidential primary.
SIRIUS Left is SIRIUS' liberal talk channel. SIRIUS Left is a national platform with well-respected and thought-provoking hosts including Bennett, Lynn Samuels, Mark Thompson, Bill Press , Thom Hartmann, Stephanie Miller and many more.
For more information visit www.sirius.com.
About SIRIUS
SIRIUS, "The Best Radio on Radio," delivers more than 130 channels of the best programming in all of radio. SIRIUS is the original and only home of 100% commercial free music channels in satellite radio, offering 69 music channels. SIRIUS also delivers 65 channels of sports, news, talk, entertainment, traffic, weather and data. SIRIUS is the Official Satellite Radio Partner of the NFL, NASCAR and NBA, and broadcasts live play-by-play games of the NFL and NBA, as well as live NASCAR races. All SIRIUS programming is available for a monthly subscription fee of only $12.95 .
SIRIUS Internet Radio (SIR) is a CD-quality, Internet-only version of the SIRIUS radio service, without the use of a radio, for the monthly subscription fee of $12.95 . SIR delivers more than 80 channels of talk, entertainment, sports, and 100% commercial free music.
SIRIUS Backseat TV(TM) is the first ever live in-vehicle rear seat entertainment featuring three channels of children's TV programming, including Nickelodeon, Disney Channel and Cartoon Network, for the subscription fee of $6.99 plus applicable audio subscription fee.
SIRIUS products for the car, truck, home, RV and boat are available in more than 20,000 retail locations, including Best Buy, Circuit City, Crutchfield, Costco, Target, Wal-Mart, Sam's Club, RadioShack and at shop.sirius.com.
SIRIUS radios are offered in vehicles from Audi, Bentley, BMW, Chrysler, Dodge, Ford, Infiniti, Jaguar, Jeep(R), Land Rover, Lexus, Lincoln , Mercury, Maybach, Mazda, Mercedes-Benz, MINI, Mitsubishi, Nissan, Rolls Royce, Scion, Toyota, Volkswagen, and Volvo. Hertz also offers SIRIUS in its rental cars at major locations around the country.
Click on www.sirius.com to listen to SIRIUS live, or to purchase a SIRIUS radio and subscription.
Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions, future events or performance with respect to SIRIUS Satellite Radio Inc. are not historical facts and may be forward-looking and, accordingly, such statements involve estimates, assumptions and uncertainties which could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, any such statements are qualified in their entirety by reference to the factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2006 filed with the Securities and Exchange Commission . Among the significant factors that could cause our actual results to differ materially from those expressed are: our pending merger with XM Satellite Radio Holdings, Inc. ("XM"), including related uncertainties and risks and the impact on our business if the merger is not completed; any events which affect the useful life of our satellites; our dependence upon third parties, including manufacturers of SIRIUS radios, retailers, automakers and programming providers; and our competitive position versus other audio entertainment providers.
P-SIRI
Media Contact:
Hillary Schupf
SIRIUS
212-901-6739
hschupf@siriusradio.com
SOURCE SIRIUS
sdvi (.05) Signature Devices, Inc. CEO Buys Shares
Wednesday, December 26 2007 2:03 PM, EST PR Newswire "US Press Releases "
REDWOOD CITY, Calif., Dec. 26 /PRNewswire/ -- Signature Devices, Inc. (http://www.signaturedevices.com) (Pink Sheets: SDVI) Chief Executive Officer Kenneth Hurley recently bought 1.3 million shares of the company in open market purchases. This brings his total common stock holdings in Signature Devices, Inc. to 23,785,532 shares.
About Signature Devices, Inc. :
Based in Redwood City, Calif., Signature Devices, Inc. (www.signaturedevices.com) (Pink Sheets: SDVI.PK - News;) creates, develops and manufactures advanced information technology, including computer systems, software and electronics products. One of the company's premiere technologies includes a blend of hardware and software for Image generation technology used in video games and simulations. Signature Devices also owns Graffiti Entertainment, LLC (www.GraffitiEntertainment.com) a publisher of interactive entertainment software for advanced entertainment consoles.
Forward-Looking Statements:
The information in this press release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.
Contact:
Investors Relations
ir@signaturedevices.com
650-654-4800 ext 111
http://www.signaturedevices.com
SOURCE Signature Devices, Inc.
splits/deletions:
SECURITY DELETIONS
Updated Symbol Company Name Effective Date/Comments
13:40 DACHF Daicel Chemical Inds Ltd Ordinary Shares 12/27/2007 Inactive Issue **
13:40 JHNCF Johnnic Communications Ltd Ordinary Shares 12/27/2007 Inactive security
13:40 SLTHF Silverline Technologies Ltd Ordinary Shares 12/27/2007 Inactive security
13:40 PJOFF Palmarejo Silver and Gold Corporation Ordinary Shares (Canada) 12/28/2007 Merger **
splits:
13:40 12/27/2007 SLTTY Silverline Technologies Limited ADS New (India) SVRTY Silverline Technologies Limited ADS New (India) 1-10 R/S **
Other-OTC System Changes - 12/26/2007
OTCBB Daily List
Other-OTC / Portal / PPS Daily List
SECURITY ADDITIONS
Updated Symbol Company Name Effective Date/Comments
08:30 PPYH Physical Property Holdings Inc. Common Stock 12/26/2007 From BB (PPYH) **
08:30 SREA Score One, Inc. Common stock 12/26/2007 From BB (SREA) **
13:40 SCOXQ SCO Group, Inc. (The) Common Stock 12/27/2007 From S (SCOX) **
ANTICIPATED ADDITIONS
Updated Symbol Company Name
13:40 SCOXQ SCO Group, Inc. (The) Common Stock
SECURITY DELETIONS
Updated Symbol Company Name Effective Date/Comments
13:40 DACHF Daicel Chemical Inds Ltd Ordinary Shares 12/27/2007 Inactive Issue **
13:40 JHNCF Johnnic Communications Ltd Ordinary Shares 12/27/2007 Inactive security
13:40 SLTHF Silverline Technologies Ltd Ordinary Shares 12/27/2007 Inactive security
13:40 PJOFF Palmarejo Silver and Gold Corporation Ordinary Shares (Canada) 12/28/2007 Merger **
SYMBOL CHANGES
Updated Date Old Symbol New Symbol Name Comment
13:40 12/27/2007 IIII VTAT Vista Technologies Inc Common Stock **
13:40 12/27/2007 WESTF WSSRF Weststar Res Corp Common New (Canada)
NAME/SYMBOL CHANGES
Updated Date Old Symbol Old Name New Symbol New Name Comment
13:40 12/27/2007 JHNCY Johnnic Communications Ltd Johnnic Communications Ltd Sponsored ADR AVUSY Avusa Ltd Sponsored ADR **
13:40 12/27/2007 SLTTY Silverline Technologies Limited ADS New (India) SVRTY Silverline Technologies Limited ADS New (India) 1-10 R/S **
Portal System Changes 12/26/2007
SECURITY DELETIONS
Updated Symbol Company Name Effective Date/Comments
13:38 DTBAJ Deutsche Bank Ag London Mandatory Exchangeable Note 144A Lkd to Steel Dynamics Inc. (United Kingdom) 12/27/2007 Expired Security
Private Placement Security Changes 12/26/2007
There are no entries for Private Placement Security issues.
OTCBB SYSTEM CHANGES - 12/26/2007
OTCBB Daily List
Other-OTC / Portal / PPS Daily List
SECURITY DELETIONS
Updated Symbol Company Name Effective Date/Comments
08:31 PPYH Physical Property Holdings Inc. Common Stock 12/26/2007 Failure to comply with Rule 15c2-11; Added to Other OTC (PPYH) **
08:31 SREA Score One, Inc. Common stock 12/26/2007 Failure to comply with Rule 15c2-11; Added to Other OTC (SREA) **
13:38 ZHNP Zhongpin Inc. Common Stock 12/27/2007 Listed on NGS (HOGS) **
NAME/SYMBOL CHANGES
Updated Date Old Symbol Old Name New Symbol New Name Comment
13:38 12/27/2007 HITW Hi-Tech Wealth Inc. Common Stock CHMO China Mobile Media Technology Inc. Common Stock **
cprk (.089) Alexander Lindale L.L.C. Announces Contract with Copper King Mining Corporation
Wednesday, December 26 2007 1:50 PM, EST Business Wire "US Press Releases "
SALT LAKE CITY --(BUSINESS WIRE)--
Alexander Lindale L.L.C. is pleased to announce that a contract has been signed between Alexander Lindale L.L.C. and Copper King Mining Corporation . (Pink Sheets: CPRK) to provide services in the areas of information dissemination and financial assistance. Alexander Lindale L.L.C. will provide services for one year and will charge $150,000 to be paid in either stock or cash. Alexander Lindale L.L.C. retains the right to hire third-party contractors and consultants to assist in the performance of its duties. These contractors may also be paid in cash or stock of the company.
Alexander Lindale L.L.C. is a privately held Limited Liability Corporation based in Minnesota , with offices in Midvale, Utah . Alexander Lindale L.L.C. will purchase several million shares for cash and will also receive shares for services.
This press release is to be treated as an information release only and is designed to conform to rule 17B under the Securities Exchange Act of 1933 and rule 3b-6 under the Securities Exchange Act of 1934.
Alexander Lindale L.L.C. and its affiliates are independent contractors with the above named company, for services related to the dissemination of information about the company, and are compensated for their performance in either cash or stock of the company. Though Alexander Lindale L.L.C. is not considered an "insider," Alexander Lindale L.L.C. purchases stock of the company under rule 504D and resells it to purchasers on the market. Alexander Lindale L.L.C. may retain up to a 9% shareholder position in the company mentioned herein.
Certain statements in this news release may contain forward-looking statements and/or information within the meaning of rule 17B under the Securities Act of 1933 and rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. These risks and uncertainties include among other things, product price volatility, product demand, market competition and risks inherent in the operation of a company. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Source: Alexander Lindale L.L.C.