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CGCP - delisted:
CardioGenesis to Be Listed on OTC Bulletin Board
/FROM PR NEWSWIRE LOS ANGELES 213-626-5500/
TO BUSINESS EDITOR:
CardioGenesis to Be Listed on OTC Bulletin Board
Company Secures $2 Million Asset-Based Revolving Credit Facility
FOOTHILL RANCH, Calif., April 2 /PRNewswire-FirstCall/ --
CardioGenesis Corporation (Nasdaq: CGCPC), the market leader in
angina-relieving Transmyocardial Revascularization (TMR) and Percutaneous
Myocardial Revascularization (PMR), announced today that with the opening of
business on Thursday, April 3, 2003, its Common Stock will be delisted from
The Nasdaq SmallCap Market and be eligible for immediate quotation on the OTC
Bulletin Board that same day. The OTC Bulletin Board symbol for the Company's
Common Stock will be CGCP.
On March 4, 2003, CardioGenesis announced that it had been notified by
Nasdaq that it failed to meet the Minimum Bid Price requirement and a Nasdaq
Listing Qualifications Panel had granted the Company a temporary exception
from that requirement subject to its meeting certain conditions. At that time
the Company said it was pursuing a number of options to meet the Minimum Bid
Price requirement including the consideration of a reverse split of its Common
Stock. According to the notification received by CardioGenesis on April 1,
2003, the Company failed to comply with the terms of the exception and
accordingly the Company's securities will be delisted from the Nasdaq Stock
Market.
CardioGenesis also announced today that it has received a $2 million
revolving credit facility in the form of a three-year Convertible Note secured
by assets of the Company. The Note was arranged through Laurus Master Fund,
Ltd. The funds will be used to help finance the Company's efforts to obtain
approval of its pending PMA (pre-market approval) application for its PMR
System from the U.S. Food and Drug Administration (FDA), and, if needed, to
fund ongoing operations. This credit facility replaces an earlier accounts
receivable financing with a finance company that was scheduled to be renewed
in July 2003 and which had no outstanding borrowings.
CardioGenesis Chairman and CEO Michael J. Quinn said, "The Board and
senior management seriously considered asking our shareholders to approve a
reverse split of our stock, which could have helped us meet Nasdaq's minimum
bid price requirement of $1.00. We concluded, however, that it is essential
at this time to focus all of our attention, efforts and resources on achieving
our goals of driving the growth of our TMR business, gaining approval of PMR
and building for the future. After we meet these goals, I believe we should
be well positioned to once again apply for listing on a major national
exchange.
"We have been able to grow the revenue of our TMR business in the last
several quarters while reducing our cash requirements," Quinn added.
"Securing this $2 million credit facility is a key accomplishment for the
Company. By establishing this new ready source of liquidity, we will be able
to take the actions needed to provide our best opportunity for approval of
PMR, while we continue to grow our TMR business in 2003."
The Note can be converted to equity at a fixed conversion price of
$0.30 per share. In conjunction with the transaction, the Company issued
275,000 five-year warrants at exercise prices ranging from $0.35 to $0.44 per
share. Interest on the Note is at Prime plus 3.75 percent. Under the terms
of the Note, the Company may draw down funds on a revolving basis based upon
accounts receivable levels.
Details of the financing will be filed with the Securities and Exchange
Commission on Form 8K on or before April 4.
About CardioGenesis Corporation
CardioGenesis is a medical device company specializing in the treatment of
cardiovascular disease and is a leader in devices that stimulate cardiac
angiogenesis. The Company's market leading Holmium: YAG laser system and
disposable fiber-optic accessories are used to perform a FDA-cleared surgical
procedure known as transmyocardial revascularization (TMR) to treat patients
suffering from angina. The CardioGenesis TMR procedure, which is marketed in
the U.S. and around the world, has been shown to reduce angina and improve the
quality of life in patients with coronary artery disease. The Company's
minimally invasive percutaneous myocardial revascularization (PMR) procedure
is currently being marketed in Europe and other international markets.
For more information on the Company and its products, please visit the
CardioGenesis web site at http://www.cardiogenesis.com . For investor
relations information, visit the CardioGenesis pages in the "Client" section
of the Allen & Caron Inc web site at www.allencaron.com .
Any forward-looking statements in this news release related to the
Company's sales, profitability, the adoption of its technology and products
and FDA clearances are based on current expectations and beliefs and are
subject to numerous risks and uncertainties that could cause actual results to
differ materially. Other factors that could cause CardioGenesis' actual
results to differ materially are discussed in the "Risk Factors" section of
the Company's Annual Report on Form 10-K for the year ended December 31, 2002,
and the Company's other recent SEC filings. The Company disclaims any
obligation to update any forward-looking statements as a result of
developments occurring after the date of this press release.
For further information please contact: Investors, Rene Caron,
rene@allencaron.com, or media, Len Hall, both of Allen & Caron Inc,
+1-949-474-4300, for CardioGenesis; or Darrell Eckstein, President of
CardioGenesis, +1-714-649-5000, len@allencaron.com
SOURCE CardioGenesis Corporation
/CONTACT: investors, Rene Caron, rene@allencaron.com, or media, Len Hall,both
of Allen & Caron Inc, +1-949-474-4300, for CardioGenesis; or DarrellEckstein,
President of CardioGenesis, +1-714-649-5000, len@allencaron.com/
/Web site: http://www.allencaron.com /
/Web site: http://www.cardiogenesis.com /
Apr-02-2003 12:31 GMT
Symbols:
US;CGCP
Source PRN PR Newswire
Categories:
NWR/CA NWI/MTC NWI/OTC MST/R/US/CA MST/I/DRG MST/I/MKT MST/I/MDV
Thanks Ed. I am aware of the dilution - unfortunetly I'm a "stuckholder" from way back - just hoping for a pop!
IDNW:
iDial Networks, Inc. Reports 200% Sales Increase in 2003
Business Editors/High-Tech Writers
THE WOODLANDS, Texas--(BUSINESS WIRE)--April 1, 2003--iDial
Networks, Inc. (OTCBB:IDNW) today reported results for the fourth
quarter and the year ended December 31, 2002. Total revenues for
continuing operations for the year ended December 31, 2002 were $11.5
million, compared with $3.8 million (+200%) for the year ended
December 31, 2001. The net loss for continuing operations for the year
was $519,478, or diluted EPS ($0.01), compared with a net loss of
$1,894,349 (-72%), or diluted EPS ($0.02), for the same period in
2001.
Mark T. Wood, Chairman and Chief Executive Officer of iDial
Networks, Inc., commented, "Despite the downturn in the economy and
the telecommunications segment in particular, we view our 2002 results
as extremely positive highlighted by a 200% sales increase and a 72%
reduction in our net loss. In addition, during FY 2002 we achieved the
following:
-- Expanded our Cisco based network infrastructure to over
60,000,000 minutes per month billable capacity;
-- Completed network expansion in Los Angeles and New York POP's;
-- Launched new retail products targeting wireless and Asian
markets;
-- Created new wholesale division focusing on quality, VOIP
carrier termination services
-- Significantly improved customer service and billing operations
through introduction of new internally developed web based
MIS, Agent and Billing systems."
"Looking ahead to 2003, while economic conditions remain
uncertain, we have a number of initiatives in place to help drive
sales growth. Our Cisco based VoIP network along with our new SIP
technology provides the perfect foundation for our new suite of
products and services. In addition to our current product offerings,
we will enter the IP Dialtone, Conference Calling and Device to Phone
markets in Q2 of this year. These new products and services will:
-- Provide customers the functionality of a traditional
telephone, plus value-added features, at a fraction of the
price of conventional telephony services;
-- Provide inbound calling with a US based phone number to any IP
device such as a Cisco ATA 186 or PC subscribing to our
network;
-- Provide the first worldwide flat rate unlimited service plan
based on US phone numbers for subscribers to our services
worldwide;
-- Launch new IP hardware and software designed to self configure
to our network ("IP Connect and Call") with dialup and
broadband internet services worldwide;
-- Target partnerships worldwide with ISP's and cable companies
to deliver custom branded solutions;
-- Offer easy to use web based and dial in conference calling
systems for conference calls less than 25 people;
-- Provide the first IP device to phone 300 minute from the US to
anywhere in the world phone card for $10."
"One of the beauties of our SIP based VoIP Network is that we can
leverage existing IP networks and infrastructure for our new global
product offerings. This allows us to enter newly liberalized markets
worldwide with an array of retail VoIP products and services without
investing a great deal in cap ex. Our new retail product offerings,
whether directly or via a reseller, enable us to provide an added
value on top of pure VoIP minutes, which would otherwise be
commoditized and deliver higher margins than we have traditionally
obtained," said Mark T. Wood.
The company announced the beta launch of its new service portal,
www.idialdirect.com and invites all interested parties to explore our
new products. A Powerpoint presentation may be downloaded from the
companies web site at www.idnw.com providing a more detailed outline
of the companies business plan for 2003 after the scheduled conference
call today.
For further detailed information, please read the Company's
Audited Annual Report (10K-SB) which was filed with the Securities and
Exchange Commission March 31, 2003.
About iDial Networks, Inc.:
iDial Networks, Inc., (http://www.idialnetworks.com/), is an
application service provider in leading communication technologies,
provides a wide range of Voice over Internet Protocol (VoIP) services,
Internet-activated applications and products that bring affordable
telecommunications services to users around the globe. The company has
built a next generation VoIP and TDM network based on carrier class
technologies from Cisco Systems (Nasdaq:CSCO - News) and Microsoft
(Nasdaq:MSFT - News) employing newly developed SIP technologies.
Safe Harbor for Forward-Looking Statements:
Except for historical information contained herein, the statements
in this news release are forward-looking statements that are made
pursuant to the Safe Harbor provisions of the Private Securities
Reform act of 1995. Forward-looking statements involve known and
unknown risks and uncertainties, which may cause the Company's actual
results in the future periods to differ materially from forecasted
results. These risks and uncertainties include, among other things,
product price, volatility, product demand, market competition, risk
inherent in the Company's domestic and international operations,
imprecision in estimating product reserves and the Company's ability
to replace and expand its holdings.
--30--AM/na*
CONTACT: iDial Networks, Inc.
Mark T. Wood, 281/465-3100 Ext. 120.
KEYWORD: TEXAS
INDUSTRY KEYWORD: TELECOMMUNICATIONS NETWORKING E-COMMERCE
INTERNET CONFERENCE CALLS
SOURCE: iDial Networks, Inc.
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
Apr-01-2003 14:03 GMT
Symbols:
US;IDNW
Source BW Business Wire
Categories:
MST/R/US/TX MST/I/TEL MST/I/CMT MST/I/NET MST/S/MET
When does the contract expire?
Wow, Judge Judy and counselling online! LOL
No run into the close, but 22% for the day is fine with me!
What's going on with EDSN? Why the decline - lost track of that one!
ETCR - that wall at .09 fell real fast!
ETCR - .082 X .085
I got burnt the last time I played that one - exactly as you put it - high volume and it doesn't move (except for the occasional end of month rally).
FTGX - geez, look at that premarket activity - some kind of rumor on Yahoo regarding a government contract.
Oh yeah! That was another good one!
Were there really reruns or are you just trying to look younger than me LOL
Cool! I can't believe you found that! I also can't believe that the show aired in 1966 (was it that long ago) for only one year - no wonder I can only remember one episode - I was seven years old!
I can actually remember an episode where the guy lands on the Titanic and he tries to convince the captain to turn back because the ship is going to hit an iceberg - but the captain keeps telling him that the ship is unsinkable! I wish one of those guys would land at my house one day and tell me what Saturday's lotto numbers are going to be - could you get in trouble for winning the lottery too many times? LOL
That's too funny! Remember that show "The Time Tunnel"?
Ok, so I'll make sure I sell at that point! LOL
In all seriousness I'm surprised you would try it again, but one of the many rules of a good trader is "Do not be afraid to invest in stock that have burned you in the past".
I sold some more shares off yesterday at .82 - my remaining few shares I will keep and see what the future brings.
RATE's looking good today - could this be a sign of a reversal regarding your trading patterns?
Anyone play UNWR today?
Ok, so this is the deal for the contrarian trading:
We short DMDI, RATE, NCVM, TSBB until you let us know that you sold, and then we cover? LOL
Don't forget to let us know when you sell them so we can jump in! LOL
Yeah, yesterday. Problem with these s-8 plays is when you think they are almost finished, some of them issue new ones:
>>>Company Name CIK Form Type Received Date
ADZONE RESEARCH INC 0001102013 S-8 POS 3/26/2003<<<
Yeah, I expected a huge sell-off from the getgo.
Yeah, but you would still have to probably back up first in order to move to the other lane - there is not enough reactionary time here to look in your rearview mirror, make a decision that you don't think the person behind you will brake in time, then move your vehicle out of the way. I do like your other idea for cars coming in the other direction, though.
Sell or pick up cheap shares after everyone else sells? I'll probably do the prior if it doesn't drop like a rock when market opens.
That would help my mom! Now that she's become elderly I notice it takes her a lot more time to get out of a car! LOL
I'm cracking up just thinking of that scenario - little old ladies being ejected from their cars! LOL
Ed and ou:
Absolutely! I even mentioned in a PM to Whip that I am seriously considering throwing in the towel if things don't pick up in the next six months. My part-time job just doesn't cut it and I'm not making any money trading anymore!
OT - It might be a good idea for your second point, but not your first one. If you're stopped at a red light there is a very good chance that there is another car in front of you and that you are not the first car stopped. How the heck are you going to get out of the way if someone is in front of you?
Whip,
You are right, there is a lot less posting going on - and not just here - I think on all the stock talk sites! I don't know about you and everyone else, but personally I am trading about less than half of what I usually do. I'm sure that with less trading going on there would be less posting.
Huh? Where do you see that:
us;ADZR Adzone Research Inc Common Stock
Price Vol Exc Time ActMMID
0.0200 500 (U)12.50.15
0.0180 651 (U)12.50.12
0.0200 500 (U) 9.35.36
0.0220 450 (U) 9.34.27
0.0220 50 (U) 9.34.00
0.0220 89 (U) 9.30.48
Way to go, WHIP! Good call!
If misery loves company and it makes you feel any better, I've been having the same bad string of luck. It seems like anything that does well is something I sold too early, or thought about buying but didn't. The ones that I do buy and hold ... well I'm sure you know THAT story (ie CGO)!
Futures are down and my seven year old ran in front of a moving car this morning just barely missing getting hit. I hope this isn't any indication of how the rest of the day will turn out - maybe I shouldn't have gotten up this morning - I'm still shaking thinking of what could have happened.
Atlas Air Wins Award for Charter Services; Polar Air Cargo Also Honored
Business Editors
PURCHASE, N.Y.--(BUSINESS WIRE)--March 21, 2003--Atlas Air was
honored at the Asian Freight And Supply Chain Awards ceremony on March
19, 2003, winning the award for Best Air Charter Operator, Worldwide.
The awards, sponsored by CargoNews Asia, are given after a vote by
the magazine's readers. Polar Air Cargo was a finalist in the category
for Best Air Cargo Carrier - North America, an honor ultimately
awarded to Fedex.
"We are very proud to have earned this recognition from the
readers of CargoNews Asia," said Bruce Gillette, vice president of
Charter Services for Atlas Air Worldwide Holdings. "Three and a half
years ago, Atlas Air had only minimal charter services available.
Since that time, we have built a flexible and efficient charter
operation, thanks to the efforts of Atlas' dedicated ground and flight
crew staff. We are grateful to see that our efforts have been noticed
by the industry."
Graham Perkins, Atlas Air's regional vice president of sales and
marketing for Asia Pacific, accepted the award on behalf of the
company.
Atlas Air, Inc. is a wholly owned subsidiary of Atlas Air
Worldwide Holdings, Inc. (NYSE: CGO) and is a United States
certificated air carrier. Atlas Air offers its customers a complete
line of freighter services, specializing in ACMI contracts. These
contracts include the provision by Atlas Air of the Aircraft, Crew,
Maintenance and Insurance for some of the world's leading
international carriers.
--30--RC/ny*
CONTACT: Atlas Air
Rachel Berry, 914/701-8400
KEYWORD: NEW YORK
INDUSTRY KEYWORD: TRAVEL TRANSPORTATION AIRLINES AEROSPACE/DEFENSE
SOURCE: Atlas Air
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
Mar-21-2003 18:47 GMT
Symbols:
US;CGO
Source BW Business Wire
Categories:
MST/R/US/NY MST/I/RCS MST/I/TRQ MST/I/AIR MST/I/ARO MST/I/AIF
I'll keep an eye on that.
Where do you see that? You mean .0074, right? Anyhow, what are you doing here - I thought you quit! LOL
Wow, where did that volume come from? I can't believe GNET is still there.
Oh, how I would love that to happen!
I'm trying to cheer you up! Is it working?
I think we all feel that way at times. Sometimes I feel like the market does the opposite of whatever I decide to trade.
So do we short whatever the heck you say you bought?