Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
willing to learn,,,,,options are getting more notice as of late,, as far as naz plays ,,,,,,,dunno small lil ones say 12-75 cents or so
MARK
bernard any LIL NAZ plays gpoing to be on da pulse?
thx mark
MARK
HEY B!!!!!!!!!!!! COMM? LIL naz POS u think it can run from here?
warmest regards
mark
MARK
no ,,,,,maybe a lil,,,,,working alot now,,,,,,,, got some KOPN DIGL gonna watch those for a while,and see what happens
warmest regards,mark
MARK
HEYYYYYYYY B HOWYA BEEN
warmest regards,,,,,,mark
MARK
MED>>>>>>> NICE NEWS (BSNS WIRE) Med Diversified To Add State-of-the-Art Bio-Agent Detection Mod
Med Diversified To Add State-of-the-Art Bio-Agent Detection Modality To
Telemedicine Product Line
Business/Technology Editors and Health/Medical Writers
ANDOVER, Mass.--(BUSINESS WIRE)--Nov. 5, 2001--Med Diversified's
(AMEX: MED) Trestle Corporation subsidiary has just completed the
design of a unique bio-agent detection system, an extension of its
Internet telemedicine product line, which is expected to materially
reduce the time required to evaluate the presence of bio-agents like
anthrax or smallpox.
Swift evaluation is critical in these difficult times due to both
the potential for bio-terrorist attacks and the unfortunate reality of
their recent proliferation.
Using the Internet, the product line - based in large part on the
Company's much heralded Integrated MedMicroscopy and MedReach systems
- allows for the evaluation of microscopic slides from remote
locations, as well as the ability to access knowledge bases across the
world in order to share patient data securely and collaborate in real
time.
After a review and demonstration of the MedMicroscopy platform in
use at facilities across the United States, Rear Admiral Todd Fisher
MSC, (USN Retired), former Deputy Surgeon General, U.S. Navy,
commented, "While the MedMicroscopy system provides dramatic
implications for the efficient diagnosis and treatment of disease,
more significant and timely uses now exist in light of recent world
events. Using the system to identify and diagnose other potential
bio-terror agents may be one of its most important benefits in the
short term."
The Company believes it will benefit from the current need to
speed the diagnostic and investigatory process and seek higher levels
of protection from potential biological agents and will be able to
effectively compete with companies such as Cepheid (Nasdaq:CPHD) and
Bruker Daltonics (Nasdaq: BDAL).
Frank Magliochetti, the Company's chairman and chief executive
officer, commented, "It is unfortunate that we are now compelled to
focus on these issues, but the bottom line is that the time it takes
to move blood samples and environmental material to appropriate
locations and then to communicate microscopic and other clinical
information required for scientific evaluation is time where lives can
be lost. Even a delay of one day could cost countless lives. By
providing full connectivity, communication and technological
uniformity throughout various agencies, potential delays could be
minimized if not all together eliminated."
Magliochetti concluded, "We are proud to have adjusted the Trestle
product lines so quickly in order to respond to this national crisis.
In such a crisis, the old health care adage "quality of care" takes on
a new meaning that Med Diversified takes seriously."
Additional information regarding these topics can be found on the
following Web sites:
http://www.potomacinstitute.org/pubs/advtech.pdf
http://www.potomacinstitute.org/press/transitpolicing.htm
http://www.hhmi.org/grants/lectures/biointeractive/web_video/
http://www.cdc.gov/ncidod/dbmd/diseaseinfo/anthrax_g.htm
About Med Diversified
Med Diversified is leading a worldwide transition in the medical
industry. Through the efficient use of its technologies and strong
management team, Med Diversified operates a series of companies in
various sub-industries within health care including pharmacy, home
infusion, multi-media, management, clinical respiratory services, home
medical equipment, home health services and other functions. For more
information, see http://www.e-medsoft.com.
Statements in this news release that relate to management's
expectations, intentions or beliefs concerning future plans,
expectations, events and performance are "forward looking" within the
meaning of the federal securities laws. These forward-looking
statements include assumptions, beliefs and opinions relating to the
Company's business and growth strategy based upon management's
interpretation and analysis of its own contractual and legal rights,
management's ability to satisfy industry and consumer needs with its
technologies, health-care industry trends, and management's ability to
successfully develop, implement, market and/or sell its network
transaction processing services, software programs, clinical and
financial transaction services, and e-commerce systems to its
clientele. The forward-looking statements have been made based upon
representations made regarding the acquisitions involving the Company,
available due diligence and analysis of those acquisitions that has
been and will be performed by the Company over the past six months,
and the resulting analysis of the Company's prospects. Actual results
could differ materially from that indicated in our due diligence.
Management's forward-looking statements further assume that the
Company will be able to successfully develop and execute on its
strategic relationships. Many known and unknown risks, uncertainties
and other factors, including general economic conditions and risk
factors detailed from time to time in news releases and the Company's
filings with the Securities and Exchange Commission, may cause these
forward-looking statements to be incorrect in whole or in part. The
investor should review such public filings to get a comprehensive
picture and analysis of all conditions and circumstances. The Company
expressly disclaims any intent or obligation to update any
forward-looking statements. Actual results or events could differ
materially from those anticipated in the forward-looking statements
due to a variety of factors set out above, including, without
limitation, integration of business and management associated with the
Company's business relationships and acquisitions, acceptance by
customers of the Company's products, changing technology, competition
in the health-care market, government regulation of health care, the
Company's limited operating history, various problems that can arise
in the context of a merger of companies in this manner, general
economic conditions, availability of capital and other factors.
--30--dp/bos*
CONTACT: Med Diversified
Angeline Cook
904-543-1066
acook@e-medsoft.com
KEYWORD: MASSACHUSETTS
INDUSTRY KEYWORD: BIOTECHNOLOGY COMPUTERS/ELECTRONICS INTERNET
MEDICAL MEDICAL DEVICES
SOURCE: Med Diversified
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: http://www.businesswire.com
*** end of story ***
MARK
MED>>>>>>> NICE NEWS (BSNS WIRE) Med Diversified To Add State-of-the-Art Bio-Agent Detection Mod
Med Diversified To Add State-of-the-Art Bio-Agent Detection Modality To
Telemedicine Product Line
Business/Technology Editors and Health/Medical Writers
ANDOVER, Mass.--(BUSINESS WIRE)--Nov. 5, 2001--Med Diversified's
(AMEX: MED) Trestle Corporation subsidiary has just completed the
design of a unique bio-agent detection system, an extension of its
Internet telemedicine product line, which is expected to materially
reduce the time required to evaluate the presence of bio-agents like
anthrax or smallpox.
Swift evaluation is critical in these difficult times due to both
the potential for bio-terrorist attacks and the unfortunate reality of
their recent proliferation.
Using the Internet, the product line - based in large part on the
Company's much heralded Integrated MedMicroscopy and MedReach systems
- allows for the evaluation of microscopic slides from remote
locations, as well as the ability to access knowledge bases across the
world in order to share patient data securely and collaborate in real
time.
After a review and demonstration of the MedMicroscopy platform in
use at facilities across the United States, Rear Admiral Todd Fisher
MSC, (USN Retired), former Deputy Surgeon General, U.S. Navy,
commented, "While the MedMicroscopy system provides dramatic
implications for the efficient diagnosis and treatment of disease,
more significant and timely uses now exist in light of recent world
events. Using the system to identify and diagnose other potential
bio-terror agents may be one of its most important benefits in the
short term."
The Company believes it will benefit from the current need to
speed the diagnostic and investigatory process and seek higher levels
of protection from potential biological agents and will be able to
effectively compete with companies such as Cepheid (Nasdaq:CPHD) and
Bruker Daltonics (Nasdaq: BDAL).
Frank Magliochetti, the Company's chairman and chief executive
officer, commented, "It is unfortunate that we are now compelled to
focus on these issues, but the bottom line is that the time it takes
to move blood samples and environmental material to appropriate
locations and then to communicate microscopic and other clinical
information required for scientific evaluation is time where lives can
be lost. Even a delay of one day could cost countless lives. By
providing full connectivity, communication and technological
uniformity throughout various agencies, potential delays could be
minimized if not all together eliminated."
Magliochetti concluded, "We are proud to have adjusted the Trestle
product lines so quickly in order to respond to this national crisis.
In such a crisis, the old health care adage "quality of care" takes on
a new meaning that Med Diversified takes seriously."
Additional information regarding these topics can be found on the
following Web sites:
http://www.potomacinstitute.org/pubs/advtech.pdf
http://www.potomacinstitute.org/press/transitpolicing.htm
http://www.hhmi.org/grants/lectures/biointeractive/web_video/
http://www.cdc.gov/ncidod/dbmd/diseaseinfo/anthrax_g.htm
About Med Diversified
Med Diversified is leading a worldwide transition in the medical
industry. Through the efficient use of its technologies and strong
management team, Med Diversified operates a series of companies in
various sub-industries within health care including pharmacy, home
infusion, multi-media, management, clinical respiratory services, home
medical equipment, home health services and other functions. For more
information, see http://www.e-medsoft.com.
Statements in this news release that relate to management's
expectations, intentions or beliefs concerning future plans,
expectations, events and performance are "forward looking" within the
meaning of the federal securities laws. These forward-looking
statements include assumptions, beliefs and opinions relating to the
Company's business and growth strategy based upon management's
interpretation and analysis of its own contractual and legal rights,
management's ability to satisfy industry and consumer needs with its
technologies, health-care industry trends, and management's ability to
successfully develop, implement, market and/or sell its network
transaction processing services, software programs, clinical and
financial transaction services, and e-commerce systems to its
clientele. The forward-looking statements have been made based upon
representations made regarding the acquisitions involving the Company,
available due diligence and analysis of those acquisitions that has
been and will be performed by the Company over the past six months,
and the resulting analysis of the Company's prospects. Actual results
could differ materially from that indicated in our due diligence.
Management's forward-looking statements further assume that the
Company will be able to successfully develop and execute on its
strategic relationships. Many known and unknown risks, uncertainties
and other factors, including general economic conditions and risk
factors detailed from time to time in news releases and the Company's
filings with the Securities and Exchange Commission, may cause these
forward-looking statements to be incorrect in whole or in part. The
investor should review such public filings to get a comprehensive
picture and analysis of all conditions and circumstances. The Company
expressly disclaims any intent or obligation to update any
forward-looking statements. Actual results or events could differ
materially from those anticipated in the forward-looking statements
due to a variety of factors set out above, including, without
limitation, integration of business and management associated with the
Company's business relationships and acquisitions, acceptance by
customers of the Company's products, changing technology, competition
in the health-care market, government regulation of health care, the
Company's limited operating history, various problems that can arise
in the context of a merger of companies in this manner, general
economic conditions, availability of capital and other factors.
--30--dp/bos*
CONTACT: Med Diversified
Angeline Cook
904-543-1066
acook@e-medsoft.com
KEYWORD: MASSACHUSETTS
INDUSTRY KEYWORD: BIOTECHNOLOGY COMPUTERS/ELECTRONICS INTERNET
MEDICAL MEDICAL DEVICES
SOURCE: Med Diversified
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: http://www.businesswire.com
*** end of story ***
MARK
HEY B!!!!!!! awesome job,,, i was wondering if your gonna put any small naz plays in tech analysis anytime soon?
thx mark
MARK
thx alot chris........ lol need all the help i can get these days,,,,hopefullY no HALT here lol
MARK
yep >>>>>>> FTMTF was forturnate to get out before the halt,,,, got a lil COMM,,,, hopefully a lil runnup for this one ,,,,,,,,,,,,,,best regards
mark
MARK
FTMTF on the MOVE EOM.
MARK
FTMTF on the move EOM
MARK
have a lil IBIZ,,,, wonder if FCOL is still dumpin EOM
MARK
happens all the time wayne,,,,,,,lol ive done loans where the borrower actually told me he was doing some thing illegal to make money,,,,,,,, so i said, sir please furnish me w/ tax returns and put down something for income,,,,,,lol i told this one borrower to get some buisness cards made w/ some buisness on it,,,, got the loan done for him. that scenario happens alot w/ many non conforming borrowers,,,,,,,,,
MARK
agreed wayne,,,,cash now is what im doing,,,,,,, hanging around island for premarket and trying to find some POS that may be running early on island,,,,other than that,,,,,,,not much going on @ all.prolly gotta wait till fall, me thinks
regards
MARK.
u bet sue EOM:)
ANYONE holding TSIX,,,,, flipped it once during,fridays session,,,,,,,bought back again,,,,,, guess we shall see what monday brings
best regards
MARK.
wondering if HTVN has some legs left,,,,,,,the news was pretty strong,w/ time warner,,,,,,,,,we shall see
best regards
MARK.
Edwin McGuinn commented, "We are in the process of executing a comprehensive plan designed to bring the company into NASDAQ National Market compliance. Although these transactions are not yet sufficiently definitive to be publicly disclosed, the plan we presented to the Nasdaq Panel, when and if completed, should result in returning eLOT to full compliance with Nasdaq listing requirements
INTERESTING,,,,, ELOT,,, pr came out ,,,,went down @ first and then came some pretty good bid support AH
wonder what the ceos plan is
best regards
MARK
OPUS>>>>>>>> late pr released last night
(COMTEX) B: /C O R R E C T I O N -- Artemis International Corporation
B: /C O R R E C T I O N -- Artemis International Corporation/ In LAW025,
Artemis Announces Four New Customers, moved Wednesday, May 23, we are advised
by a representative of the company that the following should be included at the
conclusion of the ninth graph: "Artemis International has signed a definitive
agreement to merge with Opus360 Corporation. The transaction is expected to
close in the second half of the year." Complete, corrected release follows:
Artemis Announces Four New Customers Innovation and Growth Drive Implementation
of Project And Resource Collaboration Solutions
BOULDER, Colo., May 23, 2001 /PRNewswire via COMTEX/ -- Artemis International
Corporation, a leading provider of project and resource collaboration solutions,
today announced four new customer partnerships: USAA, Lockheed Martin, The
Vermont Agency of Transportation and FuelCell Energy, Inc. Artemis(R) will
implement a combination of project and resource collaboration software products
and consulting services to maximize the business performance of these companies
by helping them transform their strategies into results.
"With the increasing complexity of technological processes, there is clearly a
growing need for effective project and resource collaboration solutions," said
Steve Yager, president and CEO of Artemis. "Companies that focus on using such
products and services will realize a competitive advantage and will come out on
top. These new Artemis customers prove that our solutions continue to lead
across industries."
USAA, a worldwide insurance and diversified financial services company,
has been at the forefront of the financial services industry for nearly a
century. Its 4.3 million members -- including many of the world's
largest banks, the military community and individuals -- trade billions
of dollars daily. The company facilitates the financial security of its
members and associates by providing a full range of highly competitive
financial products and services. USAA will implement Artemis solutions
to integrate and scale project and resource management applications
according to its specific application needs.
Lockheed Martin is a global enterprise engaged in research, design,
development, manufacture and integration of advanced technology systems,
products and services. The company's core business areas are systems
integration, aeronautics, space, technology services and global
telecommunications. Lockheed is utilizing Artemis' collaborative tools
to streamline business tasks and improve communication between its
diverse project teams. By embracing Artemis' Business Management
Architecture(TM) for project and resource planning, management and
analysis, Lockheed better fulfills its vision of being the world's best
systems integrator in aerospace, defense and technology services.
For 25 years, the Vermont Agency of Transportation has been serving a
large population of Vermonters and visitors who travel its roads. To
maintain its mission of working cooperatively in meeting the need for the
movement of people and goods in a safe and cost effective manner, Vermont
Transportation has engaged Artemis software to ensure that its projects
are completed in both a timely and a cost-effective manner.
FuelCell Energy, a world-recognized leader in the development and
commercialization of high efficiency fuel cells for electric power
generation, has chosen Artemis' project and resource collaboration
solutions to complement its existing systems. The company, based in
Danbury, Conn. is known for its Direct FuelCell(R) (DFC(R)) technology,
which eliminates external fuel processing to extract hydrogen from a
hydrocarbon fuel. Artemis will help FuelCell Energy to enhance its
efficiency, simplicity and reliability -- all product advantages for
stationary power generation.
"It has become imperative for global enterprises to streamline business
processes and implement an integrated workforce management and project
management solution to compete in today's Internet-speed environment," said John
Baldwin, senior vice president of product management and strategic business for
Artemis. "The market for such a total solution as Artemis' Business Management
Architecture is substantial and continues to grow. Our company has become a
valuable platform, providing senior management with more complete and timely
information, and enabling entire organizations to be more nimble."
Artemis is a wholly-owned subsidiary of Finland-based Proha PLC. Artemis has
also signed a merger agreement with Opus360 Corporation, which is expected to
close later this year. Meanwhile, a distribution agreement executed between
Artemis and Opus360 allows Artemis to use its vast distribution channels to
promote Opus360's human capital management products.
About Artemis International Corporation
Artemis International is a leading provider of project and resource
collaboration solutions. The company's unique Business Management Architecture
is the only total solution that maximizes business performance by helping
enterprises transform their strategies into results. Artemis' unique combination
of integrated and scalable project and resource management software products and
consulting services is designed to meet IS/IT, capital program and new product
development application needs. Artemis provides strategic portfolio management
and project and resource collaboration solutions to thousands of customers
worldwide, including Global 2000 companies such as: ABN AMRO Bank N.V., American
International Group. Inc., BAE SYSTEMS, The Boeing Company, Deutsche Bank,
Ericsson Inc., The Goldman Sachs Group Inc., The Goodyear Tire and Rubber
Company, ING Barings, Lockheed Martin, Marconi Plc, Nokia, Pfizer Inc., SBC
Communications Inc. and Sun Microsystems Inc. Headquartered in Boulder,
Colorado, Artemis operates through its international network of 40 offices in
more than 27 countries worldwide. For more information, visit the Artemis Web
site at www.artemispm.com. Artemis International has signed a definitive
agreement to merge with Opus360 Corporation. The transaction is expected to
close in the second half of the year.
About Proha PLC
Proha focuses its IT products on management in the Internet age, including
project management, financial management and Internet technologies. The company
was listed on the NM-list of the Helsinki Stock Exchange in October 1999. After
the listing, the company has grown very rapidly through acquisitions and organic
growth in sync with its strategy. The pro forma net turnover of Proha in 2000 is
82.2 million Euros. The Proha Group employs approximately 600 staff in Finland,
the United States, Great Britain, France, Germany, Italy, Japan, Korea and
Singapore. For more information, visit the Proha Web site at www.proha.com.
Artemis, Views, ProjectView, TrackView, CostView and ActiveAlert are trademarks
or registered trademarks of Artemis International Corporation. All other product
or company names mentioned are trademarks of their respective owners. Artemis
may vary the specification and availability of these products and services
without notice.
SOURCE Artemis International Corporation
CONTACT: Bob Monzel of BRW LeGrand, 303-298-8470,
bmonzel@brwlegrand.com, for Artemis International Corporation
of Proha PLC, +358 (0)20 4362 110, merja.poysti@fi.artemispm.
URL: http://www.proha.com
http://www.artemispm.com
http://www.prnewswire.com
(C) 2001 PR Newswire. All rights reserved.
-0-
KEYWORD: Colorado
Finland
INDUSTRY KEYWORD: CPR
STW
*** end of story ***
great week this week, HCEN NWKC CYBA etc,,,,,,,, these lil naz plays can be a heck of alotta fun,,,,AH the other day was truly awesome,,,,,,,,,,,thing i always worry about w/ these plays is the threat of a halt. delisting, guess thats a good reason to dump them when u get your price,waynoos ist rule ,all stocks ARE POS ,,,,, advice well taken here:)
best regards
MARK
BUYING TRAFFIC LOL EOM
NICE INFO there B! thx EOM
may be,,,,,,, , JORE had (has the same problem)not really sure ,but i like the government contract,,,and past financials dont look half bad ,guess we see
MARK.
STGC earnings out soon,,also just inked there first government contract,,,one to watch IMO
MARK
STGC earnings out soon,,,,,,,, hope there ok!
later all
MARK
COMM after hours geez,,,,,,,, news didnt seem that great,non the less it really screamed after the bell,,,i got a bit AH ,, wonder what monday will bring
MARK
sure glad i sold my NWKC @ .15 arrrrrrrrrrrrrg
later all
thx harbs,,,,,,,,,, lol got some ELOT ,,held it,,,,,, sold some HCEN for golf money,,,,,,lol i agree ECNS are great ,,,,,dang i wish the OTCBBS would have ECNS,,,,
best regards
MARK L.
wassup chris,,,,, lol im often in the pit,been messing a bit / these small naz scalps,. i thought changing to all decimals from fractions was a minus,not so imo,,, its good when u get one small one on island and lets say the best buy is @ .070,,, you can bump that up to .071. iwas under the impression that u couldnt go in increments less than a penny,,,,,wayne had said a while back that w/ island u get a much more accurate idea of what you r dealing with as far as price,, i agree,,,,,,otcs i havent played for a while and probably wont for a while,,,who knows anymore lol
MARK L.
yep uriah ,"king of the links",,,,,benny, where are ya?
hey all.... was wondering if anyone has been playing the small naz scalp plays ,,FANTE,HCEN,WBVN,, Island is so much more of an even playing field than the otc,,,,, thoughts?
wayne,,,,,, thanks for all your help:)
mark l.
well lets see, pathetic volume,chitty spreads,very few runners,hey B when we going the casino?
wassup all, thought id drop by,waiting for this market to show some kind of life!
later all
tuesday up ZKEM THAT TMOTQ
THAT ,,,, may be a good time to add abit more here
wassup all
mark
hey all,,,,,,wassup bernard,, FWIW ive been accumilating THAT,
rumored news ,and the last few trading days have seen some big buys
PS. da site looks great B
MARK
HEY B....... it was cool hearing from u today,,,,hope to see you in the pit here and there also , :)))))))
later bro!
mark l.
SVCDQ (service merchandise) 35 mill in financing!
(COMTEX) B: Service Merchandise Receives 3 Year, $35 Million Committe
B: Service Merchandise Receives 3 Year, $35 Million Committed Vendor Credit
Line From CIT Commercial Services
Toronto, Ontario, Jan 24, 2001 (Market News Publishing via COMTEX) -- Service
Merchandise Company, Inc. announced that in support of the Company's
reorganization initiatives, CIT Commercial Services, a division of CIT (NYSE:
CIT; TSE: CIT.U), has provided the Company with a committed $35 million
three-year unsecured vendor line of credit, enhancing Service Merchandise's
strong liquidity position and vendor relationships.
The Company said that cash availability under its committed bank lines,
exclusive of the new CIT vendor line, is expected to exceed $140 million at
January 28, 2001 and should continue to be in the range of $90 to $230 million
throughout 2001 which supports the Company's more targeted merchandise
assortment following its planned exit last year from toys, electronics and
sporting goods.
"CIT, together with our other factors, lenders, vendors and other creditors,
have been a great source of strength and support for our company as we continue
to implement our strategic restructuring initiatives and prepare our business
for emergence from chapter 11 reorganization in a timely fashion," said Chairman
and Chief Executive Officer Sam Cusano. "CIT's commitment, together with our
already strong availability under our bank agreement, should only enhance our
relationships with our key vendors."
Lawrence A. Marsiello, Group Chief Executive Officer of CIT Commercial Finance,
stated, "We are pleased to provide this new level of committed credit support to
Service Merchandise and its vendors. This credit line validates the substantial
progress made by Service Merchandise in a difficult retail environment, and
represents our vote of confidence in the Company." CIT Commercial Services, the
nation's largest provider of factoring services, is a unit of Commercial
Finance, an operating group of CIT. The commitment letter will be filed on Form
8-K with the Securities and Exchange Commission.
The Company also announced the appointment of Michael E. Hogrefe as Senior Vice
President and Chief Financial Officer, effective February 4. Mr. Hogrefe, 40,
joins Service Merchandise from Frontline Group, Inc. of Nashville, where he
served as Executive Vice President, Chief Financial Officer and Secretary since
1999. Before that, he was Chief Financial Officer for Bright Horizons Family
Solutions, Inc. (NASDAQ:BFAM) from 1996. Mr. Hogrefe is a former financial
executive of Service Merchandise, serving in various positions of increasing
responsibility from 1990 to 1996, including Treasurer.
"Mike Hogrefe brings to Service Merchandise a proven track record in financial
leadership and improved profitability through a wide range of industries," Mr.
Cusano said. "We look forward to the benefits that his expertise will provide
our company as we continue to implement our business plan and prepare the
Company for negotiation of what we expect will be a consensual reorganization
plan with our creditors."
The Company said that Mr. Hogrefe's two-year employment agreement was approved
earlier today without objection by the Bankruptcy Court at the monthly omnibus
hearing held in the United States Bankruptcy Court for the Middle District of
Tennessee. The Company also told the Court that it revised its earlier financial
guidance upward regarding fiscal year 2000 preliminary financial performance
previously announced on January 10. The Company said that its representatives
reported to the Bankruptcy Court that the Company's final 2000 financial
results, which are expected to be released early next month, will likely exceed
the range of continuing EBITDAR (earnings before interest, taxes, depreciation,
amortization and restructuring expenses) previously reported as $30 to $33
million for the 12 months ended December 31, 2000. The Company's continuing
EBITDAR for 1999 was $25.9 million. The Company earlier said that its
preliminary financial results were subject to physical inventory results, normal
year-end adjustments and other matters.
Service Merchandise and its subsidiaries filed voluntary petitions for
reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Middle
District of Tennessee in Nashville on March 27, 1999. Service Merchandise is a
specialty retailer focusing on fine jewelry, gifts and home decor products. The
Company currently operates 218 stores in 31 states.
This release includes certain forward-looking statements (any statement other
than those made solely with respect to historical fact) based upon management's
beliefs, as well as assumptions made by and data currently available to
management. This information has been, or in the future may be, included in
reliance on the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are based on a variety of
assumptions that may not be realized and are subject to significant business,
economic, judicial and competitive uncertainties and potential contingencies,
including those set forth below, many of which are beyond the Company's control.
Actual results may differ materially from those anticipated in any such
forward-looking statements. The Company undertakes no obligation to update or
revise any such forward-looking statements. The forward-looking statements and
the Company's liquidity, capital resources and results of operations are subject
to a number of risks and uncertainties including, but not limited to, the
following: the ability of the Company to continue as a going concern; the
ability of the Company to operate pursuant to the terms of the DIP to Exit
Facility; Court approval of the vendor line of credit; the ability of the
Company to develop, prosecute, confirm and consummate one or more plans of
reorganization with respect to the Chapter 11 Cases; risks associated with third
parties seeking and obtaining court approval to terminate or shorten the
exclusivity period for the Company to propose and confirm one or more plans of
reorganization, for the appointment of a Chapter 11 trustee or to convert the
Company's cases to Chapter 7 cases; the ability of the Company to reduce its
workforce and related expenses and to achieve anticipated cost savings; year end
audit and other procedures which may affect the Company's 2000 financial
results, including its anticipated continuing EBITDAR; the ability of the
Company to obtain trade credit, and shipments and terms with vendors and service
providers for current orders; the ability of the Company to sublease
successfully additional portions of its real estate; the ability of the Company
to negotiate non-disturbance agreements with its landlords relating to
subleases; the ability of the Company to complete its store refurbishment
program within cost, time and size expectations; the successful consolidation of
its distribution centers; potential adverse developments with respect to the
Company's liquidity or results of operations; competitive pressures from other
retailers, including specialty retailers and discount stores, which may affect
the nature and viability of the Company's business strategy; trends in the
economy as a whole which may affect consumer confidence and consumer demand for
the types of goods sold by the Company; the seasonal nature of the Company's
business and the ability of the Company to predict consumer demand as a whole,
as well as demand for specific goods; the ability to fund and execute its
business plan; the ability of the Company to enter into satisfactory
arrangements with third parties with respect to real estate and Internet related
strategies; the ability of the Company to attract, retain and compensate key
executives and associates; the ability of the Company to attract and retain
customers; potential adverse publicity; and real estate occupancy and
development costs, including the substantial fixed investment costs associated
with opening, maintaining or closing a Company store.
Service Merchandise:
CONTACT: TEL: 310/788-2850 Ann Julsen/Brenda Adrian, Sitrick And Com
any
MarketbyFax(tm) - To get the NEWS as it happens, call (604) 689-3041.
(C) 2001 Market News Publishing Inc.
-0-
KEYWORD: Toronto, Ontario
*** end of story ***
sure i glad i got out of UAHC @ .70 argggg well a profit is a profit,,,,, fwiw ARYN the rumor mill is swirling,,,,,meeting thurday may be taking place w/ ceo and some big wheels,,,,,,, one to watch well see. also any thoughts on UTDT? wassup all!
GEEZ guess the E MAY BE COMMIN off PCMBE,,,,,, big volume,,,,,,,,,,,,,,, got in a few days ago,,,looks ok!