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Well I tried to...
buy .003 at ask
TDA filled me 100 shares...
now I see JEFF closed at .003
go figure
teach me i guess
Lifeway Foods Secures First Foodservice Distribution Contract, Expanding Market for Its Kefir Products
MORTON GROVE, Ill., May 18 /PRNewswire-FirstCall/ -- Lifeway Foods, Inc. (Nasdaq: LWAY), the country's leading manufacturer of kefir and a provider of other natural and organic dairy products, today announced a distribution agreement with U.S. Foodservice that will expand Lifeway's footprint from retail grocery stores to restaurants, schools, hotels and other institutional sites for the first time. Lifeway has also hired a sales representative dedicated to the 'away from home' market and will exhibit at this week's National Restaurant Association Show in Chicago as part of its strategy to penetrate the foodservice arena.
Beginning this quarter, the Midwest division of U.S. Foodservice will make 10 Lifeway products available to customers in the Chicagoland area, including independent and multi-unit restaurants, educational institutions, and healthcare and hospitality facilities. The selection will include three flavors of the Lifeway's ProBugs kefir for children and seven SKUs of the company's 8-oz. single-serve natural and organic kefir.
Over time, Lifeway expects to expand its presence in the foodservice channel to address other geographic markets. U.S. Foodservice is the second largest broadline foodservice distributor in the country with operations covering an area in which over 95% of the U.S. population resides and national accounts ranging from the Hilton, Holiday Inn and Westin hotels to Macy's and Premier Healthcare.
'Americans spend nearly half of every food dollar on meals prepared away from home. That makes the foodservice market a strong potential area of growth for us, particularly with the rising interest in healthy eating in general and kefir and probiotics in particular,' said Lifeway President and CEO Julie Smolyansky, 'This agreement is an important first step in reaching that market and building a completely new revenue stream that will help us continue growing the company.'
About Lifeway Foods
Lifeway, recently named Fortune Small Business' 94th Fastest Growing Small Business, and one of only 20 companies to ever be named to the list three straight years in a row, is America's leading supplier of the cultured dairy product known as kefir, and now America's only supplier of Organic Kefir. Lifeway Kefir is a dairy beverage that contains Lifeway's exclusive 10 Live and Active probiotic cultures. While most regular yogurt only contains two or three of these 'friendly' cultures, Lifeway kefir products offer more nutritional benefits. Lifeway offers 12 different flavors of its Kefir beverage, Organic Kefir and SoyTreat (a soy based kefir). Lifeway recently introduced a series of innovative new products such as pomegranate kefir, greek-style kefir, a children's line of organic kefir products called ProBugs (TM) in a no-spill pouch in kid-friendly flavors like Orange Creamy Crawler and Sublime Slime Lime, and a line of organic whole milk kefir. Lifeway also produces a line of products marketed in US Hispanic communities, called La Fruta, Drinkable Yogurt (yogurt drinks distinct from kefir). In addition to its line of Kefir products, the company produces a variety of cheese products and recently introduced a line of organic pudding called It's Pudding!.
Contact: Steve Simon, +1-847-415-9347.
SOURCE Lifeway Foods, Inc.
Source: PR Newswire (May 18, 2007 - 12:02 PM EDT)
News by QuoteMedia
www.quotemedia.com
ESMT - e-Smart Technologies Receives $50 Million Commitment for Funding S. Korea and Worldwide Projects
May 18, 2007 11:03:00 AM
WASHINGTON, May 18 /PRNewswire-FirstCall/ -- e-Smart Technologies, Inc., (Pink Sheets: ESMT); ("e-Smart" or the "Company") is pleased to announce that further to the Agreement between e-Smart's parent company, IVI Smart Technologies, Inc. ("IVI") and World Developments Corporation ("WDC"), a guaranty has been obtained by WDC from Enterprise Growth Corporation SA ("GEF") for up to $50 million to WDC and IVI for the implementation of e-Smart's contractual obligations in South Korea and for projects undertaken and to be undertaken in other countries. The funding will be subject to certain terms and conditions, which will be detailed in agreements that will be filed with the Company's next report on Form 10Q.
World Developments Corporation, WDC, is a privately-held U.S. group based in Washington, D.C. providing services that span various sectors, including development of fully-integrated construction and civil engineering projects worldwide; installation and implementation of large-scale corporate IT networks; internet technology and corporate communications solutions, and the creation and maintenance of healthcare informatics solutions for both public health systems and the private healthcare sector.
e-Smart Technologies, Inc., is the exclusive supplier for Asia and the US of the Biometric Verification Security System(TM) (BVS2)(TM), and the Super Smart Card(TM) and related technologies, which e-Smart believes to be the world's first smartcard of its kind with a sensor and full on-card system for biometric ID verification together with other unique technologies. These new generation technologies permit governments, public and private institutions, healthcare providers and insurers, companies large and small, their citizens and customers, respectively, to stop ID and payment fraud, including identity theft, in connection with both physical and logical access and with financial and other data related transactions all without compromising a person's right to privacy.
SAFE HARBOR STATEMENT
Statements in this news release that relate to future plans, financial results or projections, events or performance are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. While these statements are made to convey to the public the Company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent the management's opinion. While management believes such representations to be true and accurate based on information available to the Company at this time, actual results may differ materially from those described.
For more information about e-Smart Technologies, please visit http://www.e-smart.com or contact Media Relations at 703-768-7477 or mediarelations@e-smart.com
SOURCE e-Smart Technologies, Inc.
----------------------------------------------
Media Relations of e-Smart Technologies
Inc.
+1-703-768-7477
mediarelations@e-smart.com
EFGO - Esprit Financial Group, Inc. (EFGO.PK) Announces Plans to Purchase International Express Payment Corp. (iexpay Jianxi)
May 18, 2007 10:59:00 AM
LAS VEGAS, NV, May 18 /PRNewswire-FirstCall/ - Esprit Financial Group, Inc. (PINK SHEETS:EFGO.PK) announced today that further discussions with International Express Payment (Jiangxi) Corp. have resulted into consideration of an acquisition of iexpay Jiangxi by Esprit.
Further to the press release by Esprit issued on May 17 2007, Esprit has agreed to hire founders and principal shareholders Robert Xu and Peter He as of today's date moving forward. Both Robert and Peter will work in concert with Esprit's project manager of EM2 Jack Chang to speed up the process of making iexpay Jianxi an open loop payment system so to enable Esprit to begin generating revenues at the earliest.
Continued in-depth discussions between Esprit and iexpay Jiangxi have prompted the parties to consider a friendly takeover of Jiangxi by Esprit. Robert Xu has said "We are very thankful and excited about this opportunity with Esprit, as we see a huge up side potential for the iexpay Jianxi under the Esprit umbrella. I'm very impressed with the operations of Esprit and the ability of the management of this company"
CEO Garr Winters noted; "Our discussions have proven very fruitful. The more time we spend with each other, the greater the synergies that become apparent. Through our discussions, both Robert and Peter have recognized the opportunities within Esprit to further grow.
Winters added; "We will continue discussions through the weekend, and early part of next week. The key areas of discussion will now focus on corporate valuation and conducting due diligence of iexpay Jiangxi. It is anticipated that once this deal is consummated, consideration will be a 10% cash and 90% stock transaction. The purchase of iexpay Jianxi is valued at about $ 2,500,000.00 USD.
Esprit will issue restricted shares in exchange for controlling ownership of iexpay Jiangxi. Mr. Winters added this should put to rest the issue as to why Esprit increased the outstanding share structure several months ago once and for all. This needed to be done to allow Esprit to acquire growth opportunities, and to further seek out additional revenue producing opportunities to add to Esprit's group.
In addition, both Peter and Robert commutative remuneration will be pegged to the performance and the success of the iexpay Jianxi. Mr. Winters added, in keeping with Esprit's key management and performance pay structure both Peter and Robert will be paid $1.00 annually plus favorable stock options".
Although Mr. Xu and Mr. He own a substantial majority of the iexpay Jianxi. Esprit's management will want to consult with minority shareholders as well, in keeping with Esprit's good corporate philosophy of open dialogue and consultation with all stakeholder groups large or small".
Iexpay Jiangxi is a federally incorporated company in Canada, with corporate offices headed by Robert Hu in Toronto, Ontario, Canada and operational and programming support offices with approximately 20 support staff managed by Peter He located in Jiangxi, China. Iexpay Jianxi owns several trademarks and proprietary patents in China of the iexpay Joangi payment system.
Winters concluded; "We see tremendous growth opportunities in the Asian market. This deal will not only provide a solid platform from which to maintain continued growth within China, but will also provide a very cost-effective center of operations from which we can develop future growth from other Asian countries. The Advanced Electronics Fund Management division, headed by Jack Chang, has previously identified the Asian market as a key geographic center of operations, and opened an office in Hong Kong. Once this transaction is consummated, we will move all operations to iexpay Jiangxi's office in China. As International Express Payment Corp head office is located in Toronto Canada, their Canadian operations with Esprit's operations in Toronto should be a relatively seamless and easy process with little or no business interruptions.
As Monday May 21 2007 is a Federal holiday in Canada, and Esprit will not have an opportunity to seek external due diligence of this purchase with Canadian governing bodies, Esprit management foresees that further guidance regarding this acquisition and discussions will not be forthcoming until at least the middle of next week.
About International Express Payment (Jiangxi) Corp.
Jiangxi is the leading online payment platform in China. Owned and operated by International Express Payment Corporation, it utilizes and integrates the world leading online technology and banking facilities. 21 major banks in China have signed payment agreements with Jiangxi. The company is dedicated to providing secure and efficient customer services for online payment transaction and has established operational strategic partnerships with these financial institutions offering online payment services. Jiangxi services currently cover over 2.7 billion domestic and international bank cards.
About Esprit Financial Group Inc.
Esprit Financial Group Inc, is a public company engaged in a diversified number of online financial services.
PayDay Loans: The Company is a pioneer in the payday loan industry, and continues to develop the most comprehensive menu of services in the cash advance industry and will retain the Cash Now brand for many of these services. Operations include licensing of a comprehensive suite of Internet-based payday loan and check cashing software and private label back end office systems for the sub prime market, under the Cash Now banner www.cashnow.org. The Company also operates www.cashnow.net, which generates leads of consumers looking for payday loans on behalf of our licensees. The company's proven business model comprises operations in the U.S. and Canadian markets as well as several foreign markets. Additionally, the Company's website is the most advanced payday-lending portal, offering key insight to clients and potential clients alike.
Forex: Additionally, the Company's Forex Trading division offers an innovative low-cost online Forex trading service at www.cashnow.com. The Company acts as an Introducing Broker for Advanced Markets, Inc., and is targeted to serious day traders. All transactions are handled on a streaming pass-through basis. There is no trading desk, and no manipulation of quotes that lag the actual interbank market. Importantly, traders can continue to trade actively even during volatile periods that result from major news events of publishing of market reports.
Advanced Electronic Funds Management: The Company's Advanced Electronic Funds Management (AEFM) division offers Cash Now Check 21 - an advanced checking clearing service that can significantly reduce holdback periods by banking institutions, particularly valuable for international markets. Its EM2 (Electronic Money Management System) product is a comprehensive e-wallet capable of managing multiple bank accounts, remitting funds worldwide and provide banking capabilities to consumers without requiring that they have a bank account.
Structured Debt Resolution: This division will offer services that allow banks, financial institutions and other creditors to invite defaulted clients to negotiate a settlement online, in a neutral and non-confrontational manner, bypassing traditional collection calls and mail delivered notices of default.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Esprit Financial Group's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Esprit Financial Group's periodic reports filed with the regulatory authorities.
SOURCE Esprit Financial Group
----------------------------------------------
cashnowcorp@cashnow.com
Investor Relations: (416) 619-0397
MHII - Marshall Holdings International, Inc. Expects 1st Quarter Profits in Excess of $300,000
Marshall Holdings International, Inc. (OTCBB: MHII) announces that it expects 1st Quarter profits to exceed $300,000.
CFO Jamie Plante said, "Our 1st Quarter results are being finalized and the final results will be announced next week."
President Rick Bailey said, "The Company had its second consecutive quarter of profitability and is looking forward to continuing this trend."
Additional information can be found at: www.marshalldc.com or www.mhii.net
FORWARD-LOOKING SAFE HARBOR STATEMENT
A number of statements contained in this press release are forward-looking statements, which 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 the timely development, and market acceptance conditions, successful integration of acquisitions and the ability to secure additional sources of financing. The actual results that MHII may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.
Contact:
InvestSource, Inc.
Roy Sahachaisere
1-866-427-2196
http://www.investsourceinc.com
Source: Market Wire (May 17, 2007 - 9:15 AM EDT)
News by QuoteMedia
www.quotemedia.com
RBCF - Rubicon Financial Incorporated Announces Acquisition of Minority Interest in Broker/Dealer
Rubicon Financial Incorporated (OTCBB: RBCF) today announced the acquisition of 24.9% of Maximum Financial Investment Group, Inc. (“Maximum Securities”), a NASD licensed broker/dealer.
Maximum Securities offers on-line investors' cutting edge technology, order entry, and top notch customer service. Successful investment and technical professionals formed Maximum Securities to offer one of the most complete and advanced trading systems available.
“Our support staff consists of brokers, traders, and computer experts who can be reached before, during, and after market hours. We believe that real issues deserve real support from real people,” stated Chris Paganes, CEO of Maximum Financial Investment Group, Inc.
RBCF anticipates moving towards the acquisition of the remaining 75.1% ownership of Maximum Securities during fiscal 2007.
“Maximum’s on-line trading platform is anticipated to greatly enhance our business model and this acquisition, although only a minority position, further enhances our ability to provide diversified financial services,” stated RBCF CEO, Joe Mangiapane.
About Rubicon Financial Incorporated:
Rubicon Financial Incorporated is a publicly-traded holding company that intends to acquire private companies in the financial services industry and leverage their strengths within a holding company structure. Rubicon has located its headquarters to the Orange County area of Southern California in order to capitalize on the perceived large and sophisticated customer base located there. The types of financial services Rubicon intends to offer are those of: insurance, both personal and commercial; mortgage and real estate services; retail brokerage services; securities market making; online trading; and investment banking for small to midsized companies. Each segment of these services will be an individual licensed entity under the parent holding company of Rubicon. Rubicon currently has several letters of intent to acquire private companies that it plans to execute in the near future.
Forward-Looking Statements:
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.”
Such statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Such statements involve risks and uncertainties, including but not limited to: any implied or perceived benefits resulting from the purchase of the minority interest in Maximum Securities; the size of Maximum Securities and its financial results; the ability of RBCF to execute its business plan and become a diversified financial services company; the ability of RBCF to successfully complete the acquisition of the remaining interest in Maximum Securities; the successful acquisition of other financial services companies; any other effects resulting from the Maximum Securities transaction; risks and effects of legal and administrative proceedings and government regulation; future financial and operational results; competition; general economic conditions; and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated.
Important factors that could cause actual results to differ materially from the forward-looking statements Rubicon makes in this press release include market conditions and those set forth in reports or documents it files from time to time with the Securities and Exchange Commission. Rubicon undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Rubicon Financial Incorporated
Terry Davis, 949-798-7220
Source: Business Wire (May 17, 2007 - 4:25 PM EDT)
News by QuoteMedia
www.quotemedia.com
Nice...!
RBCF - Rubicon Financial Incorporated Announces Acquisition of Minority Interest in Broker/Dealer
Rubicon Financial Incorporated (OTCBB: RBCF) today announced the acquisition of 24.9% of Maximum Financial Investment Group, Inc. (“Maximum Securities”), a NASD licensed broker/dealer.
Maximum Securities offers on-line investors' cutting edge technology, order entry, and top notch customer service. Successful investment and technical professionals formed Maximum Securities to offer one of the most complete and advanced trading systems available.
“Our support staff consists of brokers, traders, and computer experts who can be reached before, during, and after market hours. We believe that real issues deserve real support from real people,” stated Chris Paganes, CEO of Maximum Financial Investment Group, Inc.
RBCF anticipates moving towards the acquisition of the remaining 75.1% ownership of Maximum Securities during fiscal 2007.
“Maximum’s on-line trading platform is anticipated to greatly enhance our business model and this acquisition, although only a minority position, further enhances our ability to provide diversified financial services,” stated RBCF CEO, Joe Mangiapane.
About Rubicon Financial Incorporated:
Rubicon Financial Incorporated is a publicly-traded holding company that intends to acquire private companies in the financial services industry and leverage their strengths within a holding company structure. Rubicon has located its headquarters to the Orange County area of Southern California in order to capitalize on the perceived large and sophisticated customer base located there. The types of financial services Rubicon intends to offer are those of: insurance, both personal and commercial; mortgage and real estate services; retail brokerage services; securities market making; online trading; and investment banking for small to midsized companies. Each segment of these services will be an individual licensed entity under the parent holding company of Rubicon. Rubicon currently has several letters of intent to acquire private companies that it plans to execute in the near future.
Forward-Looking Statements:
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.”
Such statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Such statements involve risks and uncertainties, including but not limited to: any implied or perceived benefits resulting from the purchase of the minority interest in Maximum Securities; the size of Maximum Securities and its financial results; the ability of RBCF to execute its business plan and become a diversified financial services company; the ability of RBCF to successfully complete the acquisition of the remaining interest in Maximum Securities; the successful acquisition of other financial services companies; any other effects resulting from the Maximum Securities transaction; risks and effects of legal and administrative proceedings and government regulation; future financial and operational results; competition; general economic conditions; and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated.
Important factors that could cause actual results to differ materially from the forward-looking statements Rubicon makes in this press release include market conditions and those set forth in reports or documents it files from time to time with the Securities and Exchange Commission. Rubicon undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Rubicon Financial Incorporated
Terry Davis, 949-798-7220
Source: Business Wire (May 17, 2007 - 4:25 PM EDT)
News by QuoteMedia
www.quotemedia.com
RBCF - Rubicon Financial Incorporated Announces Acquisition of Its Second Financial Services Subsidiary
May 17, 2007 9:30:00 AM
Copyright Business Wire 2007
IRVINE, Calif.--(BUSINESS WIRE)--
Rubicon Financial Incorporated (OTCBB: RBCF) today announced that on May 11, 2007 it closed on the acquisition of Rubicon Real Estate and Mortgages, Inc. ("RRE&M"), RBCF's second financial service company acquisition.
RRE&M provides professional assistance in the fields of residential and commercial real estate sales and mortgage loans in California. Mr. Joel Newman is the President of RRE&M and offers 26 years of experience in the real estate field. Further, Mr. Newman has been recognized by RE/MAX as one of the top 1% of real estate brokers nationwide.
In addition to Mr. Newman's expertise, RRE&M has assembled personnel experienced in sales, construction, financing, and management of commercial and residential properties. Being located in Southern California, RRE&M intends to market itself to median and high-end professionals attracted to the area.
"We are extremely optimistic about the immense opportunities within the real estate and mortgage industries. This acquisition allows us to efficiently enter these markets and provided us with an additional $925,000 in cash resources," remarked RBCF CEO, Joe Mangiapane. "This acquisition further solidifies our business model of becoming a diversified, bundled, single-source, financial services boutique within the financial services industry."
RRE&M has designed its business plan to act as modular units that can focus on different aspects of the real estate and mortgages industry. Currently, RRE&M has two modular units specializing in real estate sales and mortgage origination. However, RRE&M anticipates it will also establish modular units of mortgage banking; mortgage and property acquisition; private lending; commercial property sales and loans; broker-owned escrow; and property management as conditions and opportunities warrant it. This type of business plan also allows RRE&M to add or eliminate units without compromising the integrity of the whole company.
"Rubicon Financial's business model is very forward thinking. I am very proud to be a part of the team and excited about the future prospects of the combined companies," stated Joel Newman, President of RRE&M.
About the Acquisition:
The acquisition was accomplished through a reverse triangular merger among RBCF, a wholly owned subsidiary of RBCF, and RRE&M. The agreement and plan of merger provided that the subsidiary merged with and into RRE&M, with RRE&M as the surviving corporation. RBCF issued 1,159,000 shares of its common stock in exchange for 100% of the outstanding securities of RRE&M. Upon the closing of the Merger, RRE&M became a wholly owned subsidiary of RBCF.
A copy of the RRE&M merger agreement was filed as an exhibit to a Form 8-K filed on May 15, 2007, which is currently available through the SEC's website (www.sec.gov). This Form 8-K will be amended within 71 days of the completion of the merger to attach RRE&M's audited financial statements for the period from Inception (April 18, 2007) through April 30, 2007.
About Rubicon Financial Incorporated:
Rubicon Financial Incorporated is a publicly-traded holding company that intends to acquire private companies in the financial services industry and leverage their strengths within a holding company structure. Rubicon has located its headquarters to the Orange County area of Southern California in order to capitalize on the perceived large and sophisticated customer base located there. The types of financial services Rubicon intends to offer are those of: insurance, both personal and commercial; mortgage and real estate services; retail brokerage services; securities market making; online trading; and investment banking for small to midsized companies. Each segment of these services will be an individual licensed entity under the parent holding company of Rubicon. Rubicon currently has several letters of intent to acquire private companies that it plans to execute in the near future.
Forward-Looking Statements:
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Such statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Such statements involve risks and uncertainties, including but not limited to: any implied or perceived benefits resulting from the RRE&M acquisition; the size of RRE&M and its financial results; the ability of Rubicon to execute its business plan and become a diversified financial services company; the ability of Rubicon to successfully integrate RRE&M's business into its own; the successful acquisition of other financial services companies; any other effects resulting from the RRE&M acquisition; risks and effects of legal and administrative proceedings and government regulation; future financial and operational results; competition; general economic conditions; and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated.
Important factors that could cause actual results to differ materially from the forward-looking statements Rubicon makes in this press release include market conditions and those set forth in reports or documents it files from time to time with the Securities and Exchange Commission. Rubicon undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Source: Rubicon Financial Incorporated
----------------------------------------------
Rubicon Financial Incorporated
Terry Davis
949-798-7220
RBCF - Rubicon Financial Incorporated Announces Acquisition of Its Second Financial Services Subsidiary
May 17, 2007 9:30:00 AM
Copyright Business Wire 2007
IRVINE, Calif.--(BUSINESS WIRE)--
Rubicon Financial Incorporated (OTCBB: RBCF) today announced that on May 11, 2007 it closed on the acquisition of Rubicon Real Estate and Mortgages, Inc. ("RRE&M"), RBCF's second financial service company acquisition.
RRE&M provides professional assistance in the fields of residential and commercial real estate sales and mortgage loans in California. Mr. Joel Newman is the President of RRE&M and offers 26 years of experience in the real estate field. Further, Mr. Newman has been recognized by RE/MAX as one of the top 1% of real estate brokers nationwide.
In addition to Mr. Newman's expertise, RRE&M has assembled personnel experienced in sales, construction, financing, and management of commercial and residential properties. Being located in Southern California, RRE&M intends to market itself to median and high-end professionals attracted to the area.
"We are extremely optimistic about the immense opportunities within the real estate and mortgage industries. This acquisition allows us to efficiently enter these markets and provided us with an additional $925,000 in cash resources," remarked RBCF CEO, Joe Mangiapane. "This acquisition further solidifies our business model of becoming a diversified, bundled, single-source, financial services boutique within the financial services industry."
RRE&M has designed its business plan to act as modular units that can focus on different aspects of the real estate and mortgages industry. Currently, RRE&M has two modular units specializing in real estate sales and mortgage origination. However, RRE&M anticipates it will also establish modular units of mortgage banking; mortgage and property acquisition; private lending; commercial property sales and loans; broker-owned escrow; and property management as conditions and opportunities warrant it. This type of business plan also allows RRE&M to add or eliminate units without compromising the integrity of the whole company.
"Rubicon Financial's business model is very forward thinking. I am very proud to be a part of the team and excited about the future prospects of the combined companies," stated Joel Newman, President of RRE&M.
About the Acquisition:
The acquisition was accomplished through a reverse triangular merger among RBCF, a wholly owned subsidiary of RBCF, and RRE&M. The agreement and plan of merger provided that the subsidiary merged with and into RRE&M, with RRE&M as the surviving corporation. RBCF issued 1,159,000 shares of its common stock in exchange for 100% of the outstanding securities of RRE&M. Upon the closing of the Merger, RRE&M became a wholly owned subsidiary of RBCF.
A copy of the RRE&M merger agreement was filed as an exhibit to a Form 8-K filed on May 15, 2007, which is currently available through the SEC's website (www.sec.gov). This Form 8-K will be amended within 71 days of the completion of the merger to attach RRE&M's audited financial statements for the period from Inception (April 18, 2007) through April 30, 2007.
About Rubicon Financial Incorporated:
Rubicon Financial Incorporated is a publicly-traded holding company that intends to acquire private companies in the financial services industry and leverage their strengths within a holding company structure. Rubicon has located its headquarters to the Orange County area of Southern California in order to capitalize on the perceived large and sophisticated customer base located there. The types of financial services Rubicon intends to offer are those of: insurance, both personal and commercial; mortgage and real estate services; retail brokerage services; securities market making; online trading; and investment banking for small to midsized companies. Each segment of these services will be an individual licensed entity under the parent holding company of Rubicon. Rubicon currently has several letters of intent to acquire private companies that it plans to execute in the near future.
Forward-Looking Statements:
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Such statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Such statements involve risks and uncertainties, including but not limited to: any implied or perceived benefits resulting from the RRE&M acquisition; the size of RRE&M and its financial results; the ability of Rubicon to execute its business plan and become a diversified financial services company; the ability of Rubicon to successfully integrate RRE&M's business into its own; the successful acquisition of other financial services companies; any other effects resulting from the RRE&M acquisition; risks and effects of legal and administrative proceedings and government regulation; future financial and operational results; competition; general economic conditions; and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated.
Important factors that could cause actual results to differ materially from the forward-looking statements Rubicon makes in this press release include market conditions and those set forth in reports or documents it files from time to time with the Securities and Exchange Commission. Rubicon undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Source: Rubicon Financial Incorporated
----------------------------------------------
Rubicon Financial Incorporated
Terry Davis
949-798-7220
Rubicon Financial Incorporated Announces Acquisition of Its Second Financial Services Subsidiary
May 17, 2007 9:30:00 AM
Copyright Business Wire 2007
IRVINE, Calif.--(BUSINESS WIRE)--
Rubicon Financial Incorporated (OTCBB: RBCF) today announced that on May 11, 2007 it closed on the acquisition of Rubicon Real Estate and Mortgages, Inc. ("RRE&M"), RBCF's second financial service company acquisition.
RRE&M provides professional assistance in the fields of residential and commercial real estate sales and mortgage loans in California. Mr. Joel Newman is the President of RRE&M and offers 26 years of experience in the real estate field. Further, Mr. Newman has been recognized by RE/MAX as one of the top 1% of real estate brokers nationwide.
In addition to Mr. Newman's expertise, RRE&M has assembled personnel experienced in sales, construction, financing, and management of commercial and residential properties. Being located in Southern California, RRE&M intends to market itself to median and high-end professionals attracted to the area.
"We are extremely optimistic about the immense opportunities within the real estate and mortgage industries. This acquisition allows us to efficiently enter these markets and provided us with an additional $925,000 in cash resources," remarked RBCF CEO, Joe Mangiapane. "This acquisition further solidifies our business model of becoming a diversified, bundled, single-source, financial services boutique within the financial services industry."
RRE&M has designed its business plan to act as modular units that can focus on different aspects of the real estate and mortgages industry. Currently, RRE&M has two modular units specializing in real estate sales and mortgage origination. However, RRE&M anticipates it will also establish modular units of mortgage banking; mortgage and property acquisition; private lending; commercial property sales and loans; broker-owned escrow; and property management as conditions and opportunities warrant it. This type of business plan also allows RRE&M to add or eliminate units without compromising the integrity of the whole company.
"Rubicon Financial's business model is very forward thinking. I am very proud to be a part of the team and excited about the future prospects of the combined companies," stated Joel Newman, President of RRE&M.
About the Acquisition:
The acquisition was accomplished through a reverse triangular merger among RBCF, a wholly owned subsidiary of RBCF, and RRE&M. The agreement and plan of merger provided that the subsidiary merged with and into RRE&M, with RRE&M as the surviving corporation. RBCF issued 1,159,000 shares of its common stock in exchange for 100% of the outstanding securities of RRE&M. Upon the closing of the Merger, RRE&M became a wholly owned subsidiary of RBCF.
A copy of the RRE&M merger agreement was filed as an exhibit to a Form 8-K filed on May 15, 2007, which is currently available through the SEC's website (www.sec.gov). This Form 8-K will be amended within 71 days of the completion of the merger to attach RRE&M's audited financial statements for the period from Inception (April 18, 2007) through April 30, 2007.
About Rubicon Financial Incorporated:
Rubicon Financial Incorporated is a publicly-traded holding company that intends to acquire private companies in the financial services industry and leverage their strengths within a holding company structure. Rubicon has located its headquarters to the Orange County area of Southern California in order to capitalize on the perceived large and sophisticated customer base located there. The types of financial services Rubicon intends to offer are those of: insurance, both personal and commercial; mortgage and real estate services; retail brokerage services; securities market making; online trading; and investment banking for small to midsized companies. Each segment of these services will be an individual licensed entity under the parent holding company of Rubicon. Rubicon currently has several letters of intent to acquire private companies that it plans to execute in the near future.
Forward-Looking Statements:
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Such statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Such statements involve risks and uncertainties, including but not limited to: any implied or perceived benefits resulting from the RRE&M acquisition; the size of RRE&M and its financial results; the ability of Rubicon to execute its business plan and become a diversified financial services company; the ability of Rubicon to successfully integrate RRE&M's business into its own; the successful acquisition of other financial services companies; any other effects resulting from the RRE&M acquisition; risks and effects of legal and administrative proceedings and government regulation; future financial and operational results; competition; general economic conditions; and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated.
Important factors that could cause actual results to differ materially from the forward-looking statements Rubicon makes in this press release include market conditions and those set forth in reports or documents it files from time to time with the Securities and Exchange Commission. Rubicon undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Source: Rubicon Financial Incorporated
----------------------------------------------
Rubicon Financial Incorporated
Terry Davis
949-798-7220
re: P L N I..
if ya have any ? ya can call
Investor Relations
1-866-THE-APPL(E)
(why spni scared me)
though i flipped that burger 3 times
PLNI - Plasticon International, Inc. Voluntarily Files Chapter 11 to Reorganize Company
May 17, 2007 9:08:00 AM
LEXINGTON, KY -- (MARKET WIRE) -- 05/17/07 -- Plasticon International, Inc. (PINKSHEETS: PLNI) announced today that the Company has voluntarily filed for Chapter 11 in order to reorganize Plasticon International, Inc. and its subsidiary, Pro Mold, Inc. Chapter 11 allows a company to reorganize while it continues to operate and grow its business, as opposed to liquidation.
The Company has taken this action in order to safeguard the investment that it has made in Pro Mold, Inc., a subsidiary that the Company bought in December of 2005 for cash and a note totaling $3,500,000. There is currently $875,000 outstanding on the note. Plasticon International, Inc. plans to reorganize the Company under the bankruptcy laws of the United States.
"We felt this action was necessary for Plasticon International, Inc. and its subsidiary, Pro Mold, Inc. We will take this time to reorganize and restructure the Company and we believe that Plasticon will come out from the reorganization in a much stronger position to compete in our industry. We had to take action quickly to defend a precipitous attack from a creditor which had declined to accept a late payment and was apparently interested in seizing control of Pro Mold," stated Jim Turek, CEO and President of Plasticon International, Inc.
About Plasticon International, Inc.:
Plasticon International (www.plasticonintl.com) designs, produces, and distributes high-quality concrete accessories, informational and directional signage and plastic lumber, which are all produced from recycled and recyclable plastics. Plasticon is a leader and an innovator of cutting edge design, engineering, and production of industrial and commercial products. Plasticon is a green company, environmentally friendly, using recycled plastics to produce its line of products.
This press release contains "forward-looking statements." Forward-looking statements are statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given that such predictions will prove correct. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, our comparatively limited financial resources, and other factors that may adversely impact us. These or other risks could cause actual results to differ materially from the future results indicated or implied in such forward-looking statements. We undertake no obligation to update or revise such statements to reflect events, circumstances, or new information after the date of this press release or to reflect the occurrence of unanticipated or other subsequent events.
To automatically receive instant updates, press releases, and other information on this and other Big Apple Consulting USA companies, please visit http://www.bigappleconsulting.com/compro.php and download your FREE copy of Big Apple ComPro.
Contact:
For more information, please visit:
http://www.plasticonintl.com
Or Call:
Investor Relations
1-866-THE-APPL(E)
MKGP - Maverick Energy Group Completed Gas Pipeline in Big Foot Field and Commencement of Natural Gas Sales
May 17, 2007 8:30:00 AM
TULSA, OK -- (MARKET WIRE) -- 05/17/07 -- Maverick Energy Group, LTD (PINKSHEETS: MKGP), a member of Z2, LLC (Z2), is pleased to announce that work on a portion of the refurbished natural gas pipeline system has been completed in the Big Foot Field in Frio County, Texas, where Maverick serves as the operator and is a member of Z2. The pipeline is capable of carrying approximately 500 MCF of gas per day. Maverick also recently started selling natural gas produced in the Big Foot Field.
"We are pleased that construction has been completed on the new natural gas delivery pipeline in the Big Foot Field which enables the Z2 members to conveniently transport the natural gas we are producing directly to the first purchaser. We are already pushing 150 to 200 mcf of gas per day through the new system. That number should steadily climb over the next 90 days or so until we reach full capacity of 500 mcf of gas being sold per day. Coupled with the previously announced increases in producing wells and the expected schedule of as many as 36 new wells operating in Big Foot within a year and their resulting oil and gas, the outlook is extremely bright for Maverick and the other Z2 members," says Jim McCabe, CEO of Maverick Energy Group, LTD.
Maverick announced earlier this month that that oil production in the Big Foot Field had increased from approximately 7,500 barrels of oil per month in August 2006 to in excess of 10,000 barrels of oil per month in March 2007 and it has set a goal of drilling three new puds (wells) per month in the Big Foot Field for the foreseeable future. This increase in production should translate into an additional $1,000,000 to $1,250,000 in revenue per month for Maverick and the Z2 members.
Drilling operations in the Big Foot Field are being funded through a $40,000,000 Advancing Credit Facility which Z2, LLC closed with Gasrock Capital, LLC in August of 2006.
About Maverick Energy Group, LTD
Maverick Energy Group LTD, based in Tulsa, OK, is engaged in the domestic exploration and production of crude oil and natural gas. Its management team has over 150 combined years of experience in the oil & gas and financial services industries. Maverick Energy is the Operator of the "Big Foot Field" in Texas, which was originally developed by Royal Dutch Shell (RDS-A). The Big Foot Field has approximately 300 production wells in the field of which approximately 240 are presently revenue producing. Maverick is also the part owner of several producing natural gas wells and owns additional natural gas leases in West Virginia. The President of Maverick also serves as Chief Financial Officer of Z2, LLC. For more information on Maverick Energy, please visit the company's website at: www.maverickenergygroup.com or www.pinksheets.com.
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; the uncertainty of the oil & gas market; including the geopolitical environment not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Tony Drake
Phoenix IR Associates
281-579-1602
phoenix-ir@earthlink.net
GERN - Geron Scientists and Collaborators Differentiate Human Embryonic Stem Cells Into Insulin-Producing Islet-Like Clusters
Studies Demonstrate Feasibility of Producing Therapeutic Cells From hESCs for Treatment of Diabetes
May 17, 2007 7:30:00 AM
Copyright Business Wire 2007
MENLO PARK, Calif.--(BUSINESS WIRE)--
Geron Corporation (Nasdaq:GERN) today reported that its scientists and collaborators at the University of Alberta have differentiated human embryonic stem cells (hESCs) into islet-like clusters (ILCs) that secrete insulin in response to elevated glucose levels. The studies demonstrate the feasibility of producing therapeutic cell types from hESCs for the treatment of diabetes.
To be published in the August issue of Stem Cells, which is available now for online viewing in Stem Cells Express at http://stemcells.alphamedpress.org/papbyrecent.dtl, the paper describes studies showing how the researchers differentiated hESCs into cell clusters containing the main cellular components of the islets of Langerhans. The islets of Langerhans are structures in the pancreas that are responsible for regulating and producing insulin in response to changing glucose concentrations and are targets for autoimmune destruction or dysfunction in Type I Diabetes.
"These studies show that the islet-like clusters contain the major cellular components of islets and are sensitive to glucose, the key sugar to which they must respond to be therapeutically beneficial," stated Anish Majumdar, Ph.D., the senior author of the paper. "Our major goal moving forward is to improve the purity, yield and maturational status of these cells to induce normoglycemia in animal models of diabetes."
Geron Corporation was granted U.S. Patent No. 7,033,831 in April 2006 covering the production of insulin-secreting cells from hESCs as well as two U.K. patents covering similar production methods. Geron also has a worldwide exclusive commercial license covering hESC-derived islets from the Wisconsin Alumni Research Foundation.
Geron's scientists and collaborators produced ILCs containing individual cells types that express insulin, glucagon and somatostatin, three of the major hormones produced by islet beta, alpha and delta cells, respectively. Further analysis of the insulin-producing cells indicates they also produce c-peptide, a peptide cleaved upon secretion of the precursor of insulin, indicating that insulin was actually produced, and not absorbed, by the cells. Approximately 2%-8% of the differentiated cells contain insulin and c-peptide and their insulin content was higher than that of fetal islets.
The ILCs functioned to secrete insulin in response to elevated glucose levels. Cells within the ILCs contained secretory granules characteristic of those seen in islet beta cells. In cell culture, the ILCs produced c-peptide and insulin when exposed to higher concentrations of glucose with the kinetics of an immature islet.
The protocol to produce the ILCs drives hESCs through a series of cell culture steps that mimic the progressive differentiation stages during development of the pancreas in humans. Other pancreatic cell types resembling those of the exocrine pancreas were also observed during the differentiation process. The protocol does not utilize serum or feeder cells of any kind, underscoring the scalability of the process.
Originally developed at the University of Alberta, the Edmonton Protocol provides the proof of concept that transplantation of purified cadaveric islets can significantly reduce the need for insulin in patients with advanced Type 1 Diabetes. Problems limiting the accessibility of transplantation therapy for diabetes patients are the poor availability of organs from cadavers and the eventual failure of the grafts, which often require replacement and chronic immunosuppression.
"The Edmonton Protocol provides significant evidence that transplantation of primary islets can be used to successfully reduce the need for insulin in patients with Type 1 Diabetes," said Thomas B. Okarma, Ph.D., M.D., Geron's president and chief executive officer. "It is the work published today that demonstrates the potential of human embryonic stem cells to enable the ready availability of uniform, functional islet cells for therapeutic administration."
Geron is developing first-in-class biopharmaceuticals for the treatment of cancer and chronic degenerative diseases, including spinal cord injury, heart failure, diabetes and HIV/AIDS. The company is advancing an anti-cancer drug and a cancer vaccine that target the enzyme telomerase through multiple clinical trials. Geron is also the world leader in the development of human embryonic stem cell-based therapeutics, with its spinal cord injury treatment anticipated to be the first product to enter clinical development. For more information, visit www.geron.com.
This news release may contain forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements in this press release regarding potential applications of Geron's human embryonic stem cell technology constitute forward-looking statements that involve risks and uncertainties, including, without limitation, risks inherent in the development and commercialization of potential products, uncertainty of clinical trial results or regulatory approvals or clearances, need for future capital, dependence upon collaborators and maintenance of our intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed from time to time in Geron's periodic reports, including the quarterly report on Form 10-Q for the quarter ended March 31, 2007.
Source: Geron Corporation
----------------------------------------------
Geron
David L. Greenwood
650-473-7765
Chief Financial Officer
info@geron.com
or
Russo Partners
LLC
David Schull
858-717-2310 (Media)
david.schull@russopartnersllc.com
Matthew Haines
212-845-4235 (Investors)
matthew.haines@russopartnersllc.com
IXOG - Index Oil and Gas Inc.: Serrano First Production
May 17, 2007 7:30:00 AM
2007 PrimeNewswire, Inc.
HOUSTON, May 17, 2007 (PRIME NEWSWIRE) -- Index Oil and Gas, Inc. ("Index", "the Company") (OTCBB:IXOG) today announced that the Company's Serrano gas discovery began producing on 2 May 2007 at a rate of 250 thousand cubic feet of gas per day (MCFGPD).
The shut-in tubing pressure (SITP) and flowing tubing pressure (FTP) were 1,250 pounds per square inch (PSI) of dry gas. Over the first 14 days of production the average production rate was 275 MCFGPD through a 6/64 inch choke.
The Serrano discovery, renamed Friedrich Gas Unit 1, is in Victoria County, Texas. Index has a 37.5% working interest and a 28.125% net revenue interest in this well.
Lyndon West, CEO of Index, commented; "Our relatively large net revenue interest in this successful well will contribute significantly to the Company's cashflow. I look forward to announcing the commencement of further production from recent discoveries in the near future."
About Index
Index is a gas biased oil and gas exploration and production company, with activities in Kansas, Texas, Louisiana, Mississippi and Alabama. It has offices in Houston, Texas and Bath, England. Index is focused on efficiently building a broad portfolio of producing properties with what it believes to be significant upside potential and intends to grow its existing asset base and revenues through further investment in the U.S. The Company seeks to develop its activities in areas containing prolific petroleum systems set in stable political and economic environments.
To find out more about Index Oil and Gas Inc. (OTCBB:IXOG), visit our website at http://www.indexoil.com.
Forward-Looking Statements
The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from acquisitions or actions in development are forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "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. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. Since the information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. Index Oil and Gas Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.
CONTACT: Index Oil and Gas Inc.
Lyndon West, CEO
(713) 715-9275
EFGO - Esprit Financial Group, Inc. (EFGO) Announces Plans To Meet Pink Sheets Disclosure Categorization
May 17, 2007 6:00:00 AM
LAS VEGAS, May 17 /PRNewswire-FirstCall/ - Esprit Financial Group, Inc. (PINK SHEETS:EFGO.PK) announced today that it has begun the process of becoming a Pink Sheets Disclosure Categorization compliant company which Pink Sheets is scheduled to begin in August 2007 http://www.pinksheets.com/about/pr_042407.jsp
"Esprit management sees this as an opportunity to allow it to have a greater investor audience, further its strategic goals and enhance shareholder value," says Garr Winters, CEO of Esprit. "We have the infrastructure in place to make this move and I believe it is an important step for us to take as we begin to execute the early phase of our strategic business plan. Pink Sheets has instituted this disclosure categorization policy and we want EFGO to be one of the first companies to meet these guidelines. Our legal department has already began compiling relevant data that we will upload to the pink sheet site as soon as it is compiled well ahead of the August 2007 deadline so that this information will be made available to the public and our shareholders."
Esprit has always desired to remain fully reporting, although past circumstance made this impossible with the business interuptions in 2005. The Company has subsequently taken extraordinary steps to remain transaparent in its activities to ensure shareholders and other stakeholders were well informed of the Company's activities.
As Esprit continues to roll-out its new international financial service products, particularly in the Advanced Electronics Funds Management and Forex Trading divisions, Esprit will increase its profile within the financial community, both for financial services as well as retail investors. Becoming fully compliant will reinforce the Company's credibility and enhance its reputation.
This immediate initiative is a first step as far as becoming fully reporting and participating in the top tier of the Pink Sheets OTC market.
About Esprit Financial Group Inc.
Esprit Financial Group Inc, is a public company engaged in a diversified number of online financial services.
PayDay Loans: The Company is a pioneer in the payday loan industry, and continues to develop the most comprehensive menu of services in the cash advance industry and will retain the Cash Now brand for many of these services. Operations include licensing of a comprehensive suite of Internet-based payday loan and check cashing software and private label back end office systems for the sub prime market, under the Cash Now banner www.cashnow.org. The Company also operates www.cashnow.net, which generates leads of consumers looking for payday loans on behalf of our licensees. The company's proven business model comprises operations in the U.S. and Canadian markets as well as several foreign markets. Additionally, the Company's website is the most advanced payday-lending portal, offering key insight to clients and potential clients alike.
Forex: Additionally, the Company's Forex Trading division offers an innovative low-cost online Forex trading service at www.cashnow.com. The Company acts as an Introducing Broker for Advanced Markets, Inc., and is targeted to serious day traders. All transactions are handled on a streaming pass-through basis. There is no trading desk, and no manipulation of quotes that lag the actual interbank market. Importantly, traders can continue to trade actively even during volatile periods that result from major news events of publishing of market reports.
Advanced Electronic Funds Management: The Company's Advanced Electronic Funds Management (AEFM) division offers Cash Now Check 21 - an advanced checking clearing service that can significantly reduced holdback periods by banking institutions, particularly valuable for international markets. Its EM2 (Electronic Money Management System) product is a comprehensive e-wallet capable of managing multiple bank accounts, remitting funds worldwide and provide banking capabilities to consumers without requiring that they have a bank account.
Structured Debt Resolution: This division will offer services that allow banks, financial institutions and other creditors to invite defaulted clients to negotiate a settlement online, in a neutral and non-confrontational manner, bypassing traditional collection calls and mail delivered notices of default.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Esprit Financial Group's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Esprit Financial Group's periodic reports filed with the regulatory authorities.
SOURCE Esprit Financial Group
----------------------------------------------
Esprit Financial Group Inc.
cashnowcorp@cashnow.com
Investor Relations: (416) 619-0397
EAGB - Eagle Broadband Ships SatMAX(R) Alpha System for a Classified US Government Program
May 17, 2007 7:30:00 AM
Copyright Business Wire 2007
LEAGUE CITY, Texas--(BUSINESS WIRE)--
Eagle Broadband, Inc. (OTCBB: EAGB), a leading national provider of IPTV products and services, today announced that the company has shipped another SatMAX Alpha Emergency Communication System for use in a classified U.S. Government program. This marks the sixteenth SatMAX system that Eagle has shipped and the sixth Alpha ECS in the past seven months for government programs.
Typically utilized for its emergency communications capabilities, Eagle's SatMAX technology is also a highly effective tool for testing all types of Iridium-based technology. The Alpha ECS unit, a "SatMAX-in-a-suitcase", is highly portable and permits establishment of an emergency response center in almost any enclosed area. The SatMAX system permits non-line-of-sight use of Iridium satellite phones. Thus, control centers can be in touch with units in the field and in fact make a call to any telephone worldwide.
"With another severe hurricane season forecast, we are finding a lot of interest in our successful SatMAX products, in both the portable Alpha ECS units and the fixed-rack units," said Dave Micek, president and CEO of Eagle Broadband. "This order for a U.S. Government program yet again validates the application of our SatMAX products for military and government organizations worldwide. As many know, these organizations typically require anonymity given the nature of their programs, so we are unable to provide customer details, though we look forward to continued orders."
A recently released, three-minute video explaining the full range of the features and capabilities of Eagle's SatMAX products can be found at www.impactmovie.com/eaglebroadband.
About Eagle Broadband, Inc.
Eagle Broadband is a leading national provider of IPTV products and services through its two core divisions:
IPTV -- Eagle Broadband's IPTVComplete(TM) provides direct access to more than 250 channels of high-demand programming from popular entertainment providers, often using Eagle's high-definition, set-top boxes.
IT Services - Eagle Broadband's IT Services Group is a full-service integrator offering a complete range of network technology products including VoIP, remote network management, network implementation services and IT project management services. This division also includes Eagle's SatMAX(R) product offering which provides indoor/outdoor communications via Iridium's (www.iridium.com) global satellite communications system. The SatMAX system offers both fixed and mobile solutions, including the Alpha emergency first responder "SatMAX-in-a-suitcase" technology.
For more information on Eagle Broadband, visit www.eaglebroadband.com.
EAGB-G
EAGG
Forward-looking statements in this release regarding Eagle Broadband, Inc., 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, the company's ability to continue as a going concern, the company's liquidity constraints and ability to obtain financing and working capital on favorable terms, the continued acceptance of the company's products, increased levels of competition, new products and technological changes, the company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.
Source: Eagle Broadband, Inc.
----------------------------------------------
CWR & Partners
Kelly Cinelli or Veronica Welch
508-222-4802
MBKR - MortgageBrokers.com Signs New Revenue Licensing Agreement with Sergio Barboza and Associates Worth an Estimated CAD$50 Million in Mortgage Origination
May 17, 2007 7:30:00 AM
TORONTO, May 17 /CNW/ - MortgageBrokers.com Holdings Inc. (OTC BB: MBKR) announced today that it has signed an exclusive revenue licensing agreement with veteran mortgage specialist, Sergio Barboza and Associates led by Mr. Sergio Barboza formerly of Royal Bank of Canada. Mr. Barboza and his team are expected to generate in excess of CAD$50 million in mortgage origination for 2007. This figure is based on the individual financial history of Mr. Barboza and the current financial trends affecting the markets in which they operate. Sergio Barboza and Associates will operate exclusively under the MortgageBrokers.com brand and share a percentage of their net profits with the Company.
This news follows a series of press releases from MortgageBrokers.com announcing the signing of revenue sharing agreements with numerous mortgage brokerages and individuals that will continue to generate revenue for the company.
Mr. Barboza will be servicing the Greater Toronto Area, the largest metropolitan city in Canada and will be participating in the RE/MAX co-location program. The strategic alliance partnership between MortgageBrokers.com and RE/MAX allows the company the opportunity to access up to an estimated CAD$32 billion in real estate sales transactions for 2007.
"Mr. Barboza is an important addition to our team, and this sends a definite alert to the industry that our business model and strategic alliance partnerships are strong incentives that attract quality mortgage brokers," said Alex Haditaghi Founder and CEO of MortgageBrokers.com.
"Leaving the confines of a large financial institution to join in the vision of MortgageBrokers.com was an easy decision," said Mr. Barboza, Business Partner. "Aligning yourself with a real estate brand like RE/MAX and to those closest to customer referrals is the future direction of the industry, I am pleased to be part of it," continued Mr. Barboza.
About MortgageBrokers.com
MortgageBrokers.com is an online lead generator and mortgage brand specializing in the mortgage brokerage sector. The Company is dedicated to re-branding the over 40,000 small and medium mortgage broker (SME) firms in North America while providing these entities scalability through a centralized shared services platform. MortgageBrokers.com is designed to facilitate continued ownership for these SME brokers while they work under the umbrella of one globally recognized brand. The Company provides centralized services in the areas of payroll and accounting, compliance, marketing, technology, HR and lead generation to afford our brokers improved access to potential customers through strategic alliances and partnerships. MortgageBrokers.com also provides its national team the opportunity to leverage origination with lending institutions, establish higher referral fees from lenders, and give its team members the ability to earn ownership in a publicly-traded entity with the goal of an eventual career exit strategy.
Further information can be found at www.mortgagebrokers.com.
About RE/MAX
RE/MAX is Canada's leading real estate organization with CAD$32 billion in sales and over 15,600 sales associates in more than 610 independently-owned and operated offices. The RE/MAX franchise network, now in its 33rd year of consecutive growth, is a global real estate system operating in over 62 countries. More than 6,000 independently-owned offices engage over 114,000 member sales associates who lead the industry in professional designations, experience and production, while providing real estate services in residential, commercial, referral, relocation and asset management.
Cautionary Note Regarding Forward-Looking Statements
Statements included in this press release, which are not historical in nature, are intended to be, and are hereby identified as 'Forward-Looking Statements' for purposes of safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended. Forward-Looking Statements may be identified by words including 'anticipate,' 'await,' 'envision,' 'foresee,' 'aim at,' 'plans,' 'believe,' 'intends,' 'estimates,' 'expects' and 'projects' including without limitation, those relating to the company's future business prospects, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the Forward-Looking Statements. Readers are directed to the company's filings with the U.S. Securities and Exchange Commission for additional information and a presentation of the risks and uncertainties that may affect the company's business and results of operations. www.sec.gov
----------------------------------------------
Cervelle Group Investor Relations: Rob Karbowsky
407-475-9966 info@thecervellegroup.com or Public Relations: David Donlin
407-475-9966 info@thecervellegroup.com
5/17/2007 SPNI to CMTN
5/17/2007 IBCX to TSXT
5/17/2007 CLRXQ to CLRX
5/17/2007 TRLL to USAU
PNGC - Penge Corp. Begins Trading On the NASD OTC Bulletin Board
May 16, 2007 3:52:00 PM
2007 PrimeNewswire, Inc.
MIDLAND, Texas, May 16, 2007 (PRIME NEWSWIRE) -- Penge Corp. (OTCBB:PNGC) today announced that is has received approval from the NASD to step up from the Pink Sheet quotation service onto the OTC Bulletin Board effective May 16, 2007.
Penge will trade under the symbol PNGC (OTCBB) as a fully reporting public company. Penge is filing quarterly reports on Form 10-QSB and annual reports on Form 10-KSB, containing financial reports and other important information, with the Securities and Exchange Commission, and expects to hold its annual shareholder meeting in July, 2007. Penge's fiscal year end is June 30.
"Being a public company and having just reduced our debt by $2.45 million should significantly increase our ability to now create much greater shareholder liquidity and value than ever before," said KC Holmes, President.
Additional company information and archived press releases are now available on the newly redesigned www.pengecorp.com corporate website.
About Penge Corp.
Penge Corp., a Delaware corporation, is a public holding company that is vertically integrating the retail and wholesale nursery businesses. Penge's current holdings include two Texas Landscape Center retail nurseries in Midland and Odessa, Texas, and three wholesale growing facilities in Tucson, Arizona, Houston, Texas and Midland, Texas. Penge Corp. maintains its principal offices in Midland, Texas.
The Penge Corporation logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3644
Forward-looking Statements. This Press Release does not constitute an offer of any securities for sale. 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. While these statements are made to convey the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Actual company results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. A more extensive listing of risks and factors that may affect the business prospects of the company and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission.
CONTACT: Penge Corporation, Midland
Investor Relations:
KC Holmes
(432) 349-8416
(432) 683-8800
(432) 683-8801 (fax)
kc@pengecorp.com
www.pengecorp.com
NWMO - New Motion, Inc. Reports First Quarter 2007 Results
83% Year over Year Increase in Quarterly Net Sales to $5,642,000 Successfully Completed Reverse Merger Finalized Company's First Equity Financing Grossing $20MM
May 16, 2007 1:00:00 PM
Copyright Business Wire 2007
IRVINE, Calif.--(BUSINESS WIRE)--
New Motion Inc. (OTCBB: NWMO), a leading digital entertainment company providing a broad range of digital and mobile products and services to consumers, today announced financial results for the first quarter ended March 31, 2007. The company reported net sales for the quarter of 2007 of $5,642,000, an increase of 83% over the prior year period, and a net loss for the same period of $372,000, or $0.04 per share including $388,000 in non-cash expenses.
The substantial sales growth reflects New Motion's accomplishments over the past 12 months -- establishing a larger consumer base, increasing the average revenue generated per user, and developing a more diversified selection of products and services. Expanded service and product offerings now include RingtoneChannel, a 'white label' mobile storefront provider for well-known brands, Bid4Prizes, a low-bid mobile auction game, and GatorArcade, a premium online and mobile gaming site. The company continues to generate substantial revenue from the company's initial product offering -- MobileSidewalk(TM), a mobile entertainment portal selling ringtones, wall papers and other basic mobile entertainment products.
"We had strong revenue growth in the quarter, and expect to capitalize on the successful launch of Bid4Prizes and several other exciting new product initiatives in the pipeline. We are also pleased with the outcome of various corporate transactions during the first quarter, which included a reverse merger, a 300-to-1 reverse stock split, a corporate name change from MPLC, Inc. to New Motion, Inc., and a private placement investment in which we received gross proceeds of $20 million," said Burton Katz, Chief Executive Officer.
Over the past year, New Motion, Inc. also acquired mobile messaging assets of Mobliss, Inc., which will create improved operating scalability and billing efficiency. In a related transaction, the company has also established a joint venture with Japan-headquartered Index Holdings (JASDAQ: 4835), one of the word's largest interactive media corporations, to form a joint venture for an Asian-themed off-deck mobile entertainment portal in North America.
First Quarter Results
First quarter net sales of $5,642,000 increased 83% from the $3,078,000 in net sales reported in the first quarter of 2006. First quarter gross margin was 87%, a decrease from the gross margin of 98% reported in the first quarter of 2006. The decrease in gross margin is primarily attributable to the inclusion of RingtoneChannel sales in the first quarter, which require revenue share payments to third-party clients. Although these fees impact initial cost of sales and initial gross profit margin, over time the company incurs substantially less selling and marketing expense, and thus anticipates a more favorable impact or net income for this service offering.
Operating expense in the first quarter of 2007 was $5,187,000, compared to $1,394,000 in the first quarter of the prior year. The year to year increase in operating expense is attributable to absolute increases in marketing expenditures and expanded staff and administrative costs to support current and expected growth. Also included in the first quarter was approximately $381,000 of non-cash amortization and stock compensation expense, which did not exist in the prior period.
The company reported a net loss of $372,000, or $0.04 per share, for the first quarter of 2007. Gross proceeds of $20 million in the quarter were raised and $1,380,000 was invested in the acquisition of assets and in building out the technology infrastructure. As of March 31, 2007, New Motion, Inc. had approximately $18 million of cash.
For further information related to the Company's operations and financial results for the first quarter ended March 31, 2007, please refer to the Company's Quarterly Report on Form 10-QSB filed with the SEC on May 15, 2007.
New Motion, Inc. continues to foresee sales growth at a fast rate over the next several quarters, and the company expects this growth rate to exceed that of the average growth rate in the mobile entertainment industry overall. Over the last two quarters the company has invested heavily in expanding staff in its Irvine, CA and Seattle, WA offices, scaling its technical infrastructure, and launching new products, services and content. It is anticipated that these fixed cost increases will moderate and will begin to decrease as a percentage of net sales over the remainder of the year.
"While the company continues to grow its traditional mobile entertainment offerings, our business strategy will continue to expand our service offerings to include a far wider range of products and services, differentiating ourselves in the marketplace and establishing fresh streams of revenue," said Katz. "This strategy, coupled with the build-out of our delivery and billing platforms, contributes to our positive prospects for 2007 overall."
About New Motion, Inc.
New Motion, Inc. (OTCBB: NWMO), headquartered in Irvine, California, is a digital entertainment company providing a broad range of digital and mobile products and services to consumers. New Motion, Inc. combines the power of the Internet, the latest in mobile technology, and traditional marketing / advertising methodologies to their brands: MobileSidewalk(TM), a mobile entertainment portal, RingtoneChannel, a mobile storefront provider, Bid4Prizes, a low-bid mobile auction game, and GatorArcade, a premium online and mobile gaming site. Headed by a seasoned team of Internet, new media, entertainment and technology professionals, New Motion, Inc. was founded in 2005 and is headquartered in Irvine, California with a branch office in Seattle. Wired Magazine recently declared New Motion's mobile content capabilities a "rival to those of their mainstream-media counterparts," Wireless Business Forecast named New Motion "a company to watch," and RCR Wireless News noted that New Motion, Inc. is "gaining traction in the direct-to-consumer ring." For more information, please visit www.newmotioninc.com, www.mobilesidewalk.com, www.ringtonechannel.com, www.bid4prizes.com or www.gatorarcade.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, about New Motion. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of New Motion's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: changing interpretations of generally accepted accounting principles; continued compliance with government regulations; legislation or regulatory environments, requirements or changes adversely affecting the businesses in which New Motion engaged; demand for the products and services that New Motion provides, general economic conditions; geopolitical events and regulatory changes, as well as other relevant risks detailed in New Motion's filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. New Motion assumes no obligation to update the information contained in this press release.
New Motion, Inc. and Subsidiaries
Selected Balance Sheets Items
(in thousands)
March 31,
2007
---------------
Cash $ 17,720
Accounts receivable, net $ 3,627
Total current assets $ 22,588
Total Assets $ 24,089
Accounts payable and accrued expenses $ 3,615
Total liabilities $ 5,092
Total stockholders' equity $ 18,997
Total Liability and Stockholders' Equity $ 24,089
New Motion, Inc. and Subsidiaries
Condensed Consolidated Statement of Operations
(unaudited)
(in thousands, except share and per share amounts)
Three Months Ended
March 31,
2006 2007
----------- -----------
Net Sales $ 3,078 $ 5,642
Cost of Sales 63 726
---------- ----------
Gross Profit 3,015 4,916
---------- ----------
Expenses
Selling and marketing 514 2,987
General and administrative 880 2,200
---------- ----------
1,394 5,187
---------- ----------
Income (loss) from Operations 1,621 (271)
---------- ----------
Other Expense (Income)
Other expense, net 24 21
Interest (income) expense (net) 4 (79)
---------- ----------
28 (58)
---------- ----------
Income (Loss) Before Provision for Income Taxes
Taxes 1,593 (213)
Provision for Income Taxes 396 4
---------- ----------
Income (loss) before minority interest 1,197 (217)
Minority interest, net - 155
========== ==========
Net Income (Loss) $ 1,197 $ (372)
========== ==========
Net Income per Share(1): 0.16 (0.04)
Basic $ 0.15 $ (0.04)
========== ==========
Diluted $ $ (0.04)
========== ==========
Weighted Average Shares Outstanding(1):
Basic 7,263,688 9,483,004
========== ==========
Diluted 7,750,426 9,483,004
==========- ==========
(1) Reflects the retroactive conversion of all of our preferred stock into common stock and the 1-for-300 Reverse Split which was effective May 2, 2007.
Source: New Motion Inc.
----------------------------------------------
New Motion
Inc.
Allan Legator
949-777-3700
or
Investor Contact
Dean Oakey
213-253-2282
or
Media Contact
Karen Strickholm
505-988-4401
StrickholmCompany@msn.com
CLRXQ to CLRX C S T Entertainment Inc Common Stock Bankruptcy plan was closed on 5/23/2001 with no impact on common shareholders **
ACEN - AC Energy, Potential Victim of Naked Short
May 16, 2007 1:30:00 PM
GARDNERVILLE, NV -- (MARKET WIRE) -- 05/16/07 -- AC Energy (PINKSHEETS: ACEN) addresses the recent volatility in the markets to assure their shareholders that there is no reason for a sudden decrease in price. The company has been notified that they recently been added to Regulation SHO threshold List (http://www.nasdaqtrader.com/aspx/regsho.aspx) which means that there are aggregate fails to deliver at a registered clearing agency of 10,000 shares or more per security which leads the company to believe that they are the potential victims of a Naked Short.
As defined in Rule 203(c)(6) of Regulation SHO, a "threshold security" is any equity security of any issuer that is registered under Section 12 of the Exchange Act, or that is required to file reports under Section 15(d) of the Exchange Act (commonly referred to as reporting securities), where, for five consecutive settlement days:
-- There are aggregate fails to deliver at a registered clearing agency
of 10,000 shares or more per security; and the reported last sale during
normal market hours would value the aggregate fail to deliver position at
$50,000 or more (Rule 32101 Subject to the requirements of NASD Rule 3210)
-- The level of fails is equal to at least one-half of one percent of the
issuer's total shares outstanding; and
-- The security is included on a list published by a self-regulatory
organization (SRO).
A security ceases to be a threshold security if it does not exceed the specified level of fails for five consecutive settlement days. When this occurs, the security becomes subject to mandatory close-out requirements outlined in NASD Rule 3210.
President and Director Mike Dillon states, "The company is in a great position; we have had many inquires in regards to our technology. The company is moving forward to secure more contracts and licensing agreements. The company has engaged Evans & Evans to ensure the company will continue in a profitable position." I invite everyone to view our website www.acenergyinc.com and learn more about the technology and AC Energy.
About AC Energy Inc.
AC Energy is committed to leading the world in research and development of high-quality alternative power sources for cell phones and other small electronics. Our objective is to revolutionize the battery industry by providing consumers with products of unparalleled convenience and efficiency. Through the establishment of select strategic partnerships, AC Energy will maximize its market reach by delivering a commodity of peerless value with virtually unlimited applications in commercial, industrial and military markets.
Forward-Looking Statements:
Note: Except for the historical information contained herein, this news release contains forward-looking statements that involve substantial risks and uncertainties. Among the factors that could cause actual results or timelines to differ materially are risks associated with research and clinical development, regulatory approvals, supply capabilities and reliance on third-party manufacturers, product commercialization, competition, litigation, and the other risk factors listed from time to time in reports filed by AC Energy Corp. with the Securities and Exchange Commission, including but not limited to risks described under the caption "Important Factors That May Affect Our Business, Our Results of Operation and Our Stock Price." The forward-looking statements contained in this news release represent judgments of the management of AC Energy Corp. as of the date of this release. AC Energy Corp. and its managers and agents undertake no obligation to publicly update any forward-looking statements.
CONTACT:
AC Energy Inc.
775-782-6739
1528 Hwy 395 N #130
Gardnerville, NV 89410
UGHO - Universal Guardian Announces Substantial Revenue Growth and Operating Income Projections for 2007
May 16, 2007 1:14:00 PM
NEWPORT BEACH, Calif., May 16 /PRNewswire-FirstCall/ -- Universal Guardian Holdings, Inc. (OTC Bulletin Board: UGHO), an emerging global leader in non-lethal protection products, integrated transportation and global supply chain security systems, and strategic security services to protect against terrorist, criminal, and security threats to governments and businesses worldwide, announced today its financial guidance for 2007 with the release of its financial projections.
"We expect to deliver more than $36 million in revenue in 2007 due to new service group contracts and the recent launch of our patented and patent pending products and systems," stated Michael Skellern, Universal Guardian's CEO. "We plan to generate over $1 million in operating income this year. Our new product and systems introductions, gross profit margin improvements, and significant reductions in G&A costs after several years of investment in research and development of products and systems are paying off," continued, Mr. Skellern.
"The launch of Cobra StunLight(TM) infomercials (www.CobraStunLight.com) and the recent introduction of our ground breaking Total Asset Guardian platform (www.tag3.com) and sales of our RFID systems to government and industry should contribute over $10 million of our planned 2007 revenue of $36 million," stated Kevin Westcott, COO. "Although we are delivering more than $15 million in additional revenue, we plan to eliminate more than $2 million in G&A," added Mr. Westcott.
About Universal Guardian Holdings
Universal Guardian Holdings, Inc. (UGHO) and its subsidiaries provide a comprehensive range of security products, systems, and services designed to mitigate terrorist and security threats worldwide. Universal Guardian's global risks mitigation group includes strategic and tactical security services, integrated global supply chain visibility and security systems for government and industry, as well as non-lethal and tactical products for law enforcement, military, professional security and consumer markets. Universal Guardian companies features a wide variety of applications that provide cost- effective, end-to-end solutions and critical security services for government and multi-national businesses from operations on every continent. www.UniversalGuardian.com
Safe Harbor Statement:
This news release contains certain forward-looking statements pertaining to future anticipated projected plans, performance and developments, as well as other statements relating to future operations and results. Any statements in this news release that are not statements of historical fact may be considered to be forward-looking statements. Written words such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," or variations of these or similar words, identify forward-looking statements. These statements by their nature are estimates of future results only and involve substantial risks and uncertainties, including those detailed from time to time in Universal Guardian Holdings, Inc.'s reports filed with the Securities and Exchange Commission. There can be no assurance that actual results will not differ materially from expectations. These risks factors include potential customer interest in the sale and delivery of its Total Asset Guardian(TM), SeaPort Guardian(TM), Container Guardian(TM), Explosive Guardian(TM) and Supply Chain Guardian(TM) systems as well as the production and sale of Cobra StunLight(TM) and Riot Defender(TM) Riot Ball(TM) and their accessories.
Company Contact:
Michael J. Skellern, Chief Executive Officer
Universal Guardian Holdings, Inc.
4695 MacArthur Court, Suite 300
Newport Beach, CA USA 92626
+ 1 949. 861.8295
Investor Relations Contact:
Aurelius Consulting Group, Inc.
Sanford Diday
(407) 644-4256 ext. 115
Sanford@aurcg.com
Info@aurcg.com
www.runonideas.com
SOURCE Universal Guardian Holdings, Inc.
----------------------------------------------
Michael J. Skellern
Chief Executive Officer of Universal Guardian Holdings
Inc.
+1-949-861-8295; or Investor Relations
Sanford Diday of Aurelius Consulting Group
Inc.
+1-407-644-4256
ext. 115
Sanford@aurcg.com
Info@aurcg.com
for Universal Guardian Holdings
Inc.
CXTI - China Expert Technology Signs Two New e-Government Contracts in China with Anticipated Revenues of $45.3 million
May 16, 2007 12:58:00 PM
HONG KONG, May 16 /Xinhua-PRNewswire/ -- China Expert Technology, Inc. (OTC Bulletin Board: CXTI), an emerging leader in providing large scale network infrastructure construction mainly for e-government projects for communities and municipal governments in China, today announced that the Company has been awarded two new contracts to construct e-government systems for two city governments, located in the Fujian province of China.
Huian City 2nd Phase Contract with anticipated revenues of $33 million
The total anticipated revenues are $33 million, while the net revenue after PRC business tax is $31.6 million. The project is tentatively expected to commence in June 2007 and be completed by January 2008. Under the terms of the contract, China Expert Technology will be responsible for design and implementation of the following systems:
-- Smart Card System
-- Social Medical Security Information System
-- Promotional Use of e-government Application System
-- e-Commerce System
Nan'an City 3rd Phase Contract with anticipated revenues of $12.3 million
The total contract value is $12.3 million while the net revenues after PRC business tax is $11.7 million. The project is tentatively set to commence in June 2007 with an expected completion date of January 2008. China Expert Technology will be responsible for design and implementation of the e-Commence system for the city government.
Mr. Huang Tao, Chairman of the Board of Directors of China Expert, stated, "We are pleased to win two new contracts in the Fujian Province as we believe this region still represents fertile ground for new contract wins. Additionally, given this contract's expected start date in June and the anticipated length until completion we believe this significantly reinforces our ability to achieve our financial guidance for 2007 of $72 to $74 million in revenue and $20 to $21 million in net income."
About the e-government project:
The e-government project is aimed at establishing a national electronic government system, in which existing and expected government networks and applied systems can be combined to form united technology standards and regulations and consequently a united national government service platform. The term e-government is a process in which the government is able to take advantage of modern information and communication technologies to integrate the management and service of government functions on the Internet, optimize and reform the government structures and working processes, and provide good and standard international administration and service to the society without time and space limitation.
About China Expert Technology, Inc:
CHINA EXPERT TECHNOLOGY, INC. ("CXTI") is a company listed on the OTC Bulletin Board in the USA (Trading Symbol: CXTI), with its subsidiaries (collectively the "Group") situated in Hong Kong and China. The group is specialized in providing large-scale network infrastructure construction (mainly e-government projects) for communities and municipal governments in China. The Group also utilizes its network with experts from various universities in China to deploy business and IT consultancy services to corporations in Hong Kong and China. The Group's existing major clients includes municipal governments, government authorities and other technology firms in China. Its income is derived mainly from four areas, e-government, technology achievement appraisal, expert consultation and project database.
Safe Harbor under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of future financial results directly and indirectly related to this contract with the Xi'an City, the regulatory and approval processes for this and other signed and pending contracts, the impact of competitive products on pricing, technological changes, the effect of economic conditions and other uncertainties as are, and may be, detailed in the Company's filings with the Securities and Exchange Commission including the Company's Annual Report on Form 10-K.
For more information, please contact:
For the Company: Investors:
Phoebe Lam Matthew Hayden
China Expert Technology, Inc. Hayden Communications, Inc.
Tel: +852-2802-1555 Tel: +858-704-5065
Fax: +852-2583-9222 Email: Matt@haydenir.com
Email: phoebe@chinaexpertnet.com
SOURCE China Expert Technology, Inc.
----------------------------------------------
Phoebe Lam of China Expert Technology
Inc.
Tel
+852-2802- 1555
or Fax
+852-2583-9222
or phoebe@chinaexpertnet.com
or investors
Matthew Hayden of Hayden Communications
Inc.
+858-704-5065
or Matt@haydenir.com
for China Expert Technology
Inc.
AURC - Aurus Board of Directors Accepts $.55 Offer
May 16, 2007 10:30:00 AM
NEW YORK, NY -- (MARKET WIRE) -- 05/16/07 -- Aurus Corp.'s (PINKSHEETS: AURC) board of directors is pleased to announce to its shareholders that it has decided to accept the offer of Kartex Financial Corporation to purchase all outstanding shares at $.55 and, consequently, it recommends to the shareholders to accept the offer.
The president, Fedor Dovgan, assures the shareholders that the procedure to conclude the transaction will be done in a very expeditious manner.
About Aurus Corporation
Aurus Corporation is a publicly traded mining holding company with several precious metal properties with over 5 million ounces in gold reserves, trading under the ticker symbol AURC on the US Pink Sheets market. Aurus seeks to continue to acquire proven gold and other precious metal reserves in Russia and other emerging countries and operate its mines through joint ventures and/or partnerships.
Contact:
Jeremy Krause
Managing Director
Business Development Consultants, LLC
1-858-384-0294
IHGR - Interact Holdings Group Releases 1st Quarter 2007 Financials; Revenues More Than Double Over 1st Q 2006
Wednesday May 16, 9:22 am ET
HOUSTON, May 16 /PRNewswire-FirstCall/ -- Interact Holdings Group, Inc. (OTC Bulletin Board: IHGR - News) today released the company's quarterly financials for the first quarter of 2007. For the period of January 1, 2007 to March 31, 2007, the company posted revenues of $1,053,135 as compared to $468,714 for the same period in 2006. This reflects a net increase in revenues of 125%. The increase was primarily due to the acquisition of UTSI International which took place in May of 2006. The company also posted a smaller net loss for the 1st quarter of 2007, $628,154, as compared to the same period in 2006, which saw a loss of $747,109.
IHGR provides high technology tools and services that help companies, governments and institutions manage their industrial infrastructure and economic assets more effectively. The company currently provides products and services to several selected major industry segments, including: oil and gas, electric utility, and telecommunications.
Stated James Nelson, President of Interact Holdings Group Inc., "These financial results clearly indicate that UTSI was a strong acquisition for Interact Holdings Group as UTSI has brought us strong revenue producing contracts, experienced management and Fortune 500 clients. We believe UTSI will continue to demonstrate this solid performance in the years to come."
Complete company financial information is available in the Company's Form 10 Q filed with the Securities and Exchange Commission. More information on the company can be found at www.interactholdings.com. More information on UTSI International can be found at www.utsi.com.
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of IHGR are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future IHGR, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and IHGR has no specific intention to update these statements.
--------------------------------------------------------------------------------
Source: Interact Holdings Group, Inc.
NEP - Nephros to Initiate U.S. Clinical Trials
Wednesday May 16, 9:19 am ET
Institutional Review Board Gives Green Light to Proceed; Training Phase of Trial Expected to Commence This Month; Results of New United Kingdom HDF Study Also Announced
NEW YORK, NY--(MARKET WIRE)--May 16, 2007 -- Nephros, Inc. (AMEX:NEP - News) today reported that the Company has completed its contracts with two clinics, DaVita Clinical Research and Dialysis Clinic, Inc., and expects to initiate its U.S. clinical trials this month, beginning with a training phase. The Company recently received unconditional approval for its Investigational Device Exemption application from the Food and Drug Administration to begin a human clinical trial of the Company's OLpur(TM) H2H(TM) Hemodiafiltration Module and OLpur(TM) MD220 Hemodiafilter. Nephros has also obtained the requisite approvals to begin the clinical trials from the Institutional Review Board.
ADVERTISEMENT
The Company also announced that a clinical study conducted at the Royal London Hospital in England by Professor Magdi M. Yaqoob, Professor of Nephrology and Academic Department Head of Renal Medicine and Transplantation, showed significantly lower beta-2-Microglobulin (B2m) levels in patients on Nephros Mid-Dilution HDF treatment as compared to conventional Hemodialysis (HD) with low-flux polysulfone membrane. The average B2m levels in the study group decreased 40% with Mid-Dilution HDF. The study included 28 patients and was conducted over a period of 12 months. The Renal Association - U.K. has invited Prof. Yaqoob to present the results of the clinical study at a poster session during this year's Renal Association Annual Meeting to be held next week (May 21st-23rd) in Brighton, U.K.
"Previous studies have noted a direct link between pre-dialysis B2m levels and patient mortality risk, particularly the HEMO study published last year. Our study concluded that Mid-Dilution HDF therapy provides measurable reductions in B2m levels, which implies that Nephros' Mid-Dilution HDF therapy leads to reductions in mortality risk," stated Prof. Yaqoob.
A recent report titled "The Worldwide Market for Dialysis Equipment, Supplies, and Services," published in the U.K. by Piribo, an online biotech and pharmaceutical industry intelligence organization, noted "the overall dialysis market will grow by a compounded rate of 6.2% from 2006 through 2011." "This prediction is consistent with growth rates experienced over the past few years," said Norman Barta, President and CEO of Nephros. "We believe our Mid-Dilution HDF therapy will be an important part of the therapy equation for this growing End Stage Renal Disease patient group."
About Nephros Inc.
Nephros, Inc., headquartered in New York, is a medical device company developing and marketing products designed to improve the quality of life for the End-Stage Renal Disease (ESRD) patient, while addressing the critical financial and clinical needs of the care provider. ESRD is a disease state characterized by the irreversible loss of kidney function. Nephros believes that its products, particularly its Mid-Dilution Hemodiafiltration therapy, are designed to remove a range of harmful substances more effectively, and more cost-effectively, than existing ESRD treatment methods; particularly with respect to substances known collectively as "middle molecules," due to their molecular weight, that have been found to contribute to such conditions as dialysis-related amyloidosis, carpal tunnel syndrome, degenerative bone disease and, ultimately, mortality in the ESRD patient. Nephros products are currently being used in over fifty clinics in Europe, and are distributed in Italy, France, Spain, Greece, the United Kingdom, Germany, Norway, Sweden, Denmark, The Netherlands and Belgium.
Nephros also markets a line of water filtration products, the Dual Stage Ultrafilter (DSU). Nephros' patented dual stage cold sterilization ultrafilter has the capability to filter out bacteria and, due to its exceptional filtration levels, filter out many viruses and parasites. The DSU proprietary design provides dual-stage filtration reducing the risk of filtration failure. With initial focus on health care, the DSU is in a pilot-use program at a major medical center and has been selected for further development by the U.S. Marine Corps. Nephros considers the DSU a significant breakthrough in providing affordable and reliable water filtration. The DSU is based on Nephros' proprietary water filtration technology originally designed for medical use in its H2H module, and is a complementary product line to Nephros' main focus, the ESRD therapy business.
For more information on Nephros please visit the company's website, www.nephros.com.
Forward-Looking Statements
This news release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements may include statements regarding the efficacy and intended use of Nephros' technologies, the timelines for bringing such products to market and the availability of funding sources for continued development of such products and other statements that are not historical facts, including statements which may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. For such statements, Nephros claims the protection of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of Nephros. Actual results may differ materially from the expectations contained in the forward-looking statements. Factors that may cause such differences include the risks that: (i) products that appeared promising to Nephros in research or clinical trials may not demonstrate anticipated efficacy, safety or cost savings in subsequent pre-clinical or clinical trials; (ii) Nephros may not obtain appropriate or necessary governmental approvals to achieve its business plan or effectively market its products; (iii) Nephros may be unable to satisfy its debt obligations when they become due and payable and meet its anticipated cash needs and may not be successful in obtaining additional funding in order to continue operations or fund its clinical trials; and (iv) Nephros may be unable to show progress consistent with its plan of compliance to meet the American Stock Exchange's continued listing standards or may be otherwise unable to timely regain compliance with the AMEX listing standards. More detailed information about Nephros and the risk factors that may affect the realization of forward-looking statements is set forth in Nephros' filings with the Securities and Exchange Commission, including Nephros' Annual Report on Form 10-KSB filed with the SEC for the fiscal year ended December 31, 2006. Investors and security holders are urged to read this document free of charge on the SEC's web site at www.sec.gov. Nephros does not undertake to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
Contact:
CONTACTS:
Norman Barta
Nephros, Inc.
212 781-5113
Paul G. Henning
Cameron Associates
212 554-5462
Email Contact
--------------------------------------------------------------------------------
Source: Nephros
WTVI - Wi-Fi TV Goes Live to Public Tonight as America's Leading Job Provider for Sales of TV Stations Over the Internet
Wednesday May 16, 9:15 am ET
Thousands of Dollars in Commissions Are Offered on Validated Contracts and Every Business Owner Is a Potential Wi-Fi TV Station Owner
NEWPORT BEACH, CA--(MARKET WIRE)--May 16, 2007 -- Wi-Fi TV Inc. (Other OTC:WTVI.PK - News), working in conjunction with IMG LLC, tonight hosts a live conference call open to the public as Wi-Fi TV asserts itself as America's leading provider of independent sales opportunities related to TV over the Internet.
To listen and participate in the Wi-Fi TV sales opportunity conference call dial 641-985-0900 pin code 2565891# tonight (May 16) at 7 PM Pacific time and 10 PM Eastern time.
Wi-Fi TV is the TV Internet leader at www.Wi-FiTV.com where memberships to view and chat about hundreds of stations are available for free in a fast and easy sign up process with no credit card required.
Wi-Fi TV announced Monday that it will pay up to a maximum of $500,000 in cash bonuses to its independent sales representatives as follows:
1) Every sales rep that closes four Wi-Fi TV Station sales (signed
contracts for $25,000 or higher priced Wi-Fi TV Stations with a minimum
50% down payment received on each sale) between May 13, 2007 and
June 30, 2007, will receive a $10,000 bonus (in addition to their
normal compensation).
2) The sales rep that makes the most sales (with a minimum of four
contracted station sales) during the month of May 2007 will receive a
$10,000 bonus.
3) The sales rep that makes the most sales (with a minimum of four
contracted station sales) during the month of June will receive a
$10,000 bonus.
4) A maximum of $500,000 in total bonuses will be paid, and if the total
is reached prior to the end of June, a subsequent announcement will be
made by Wi-Fi TV Inc. ending this limited, one-time promotion. However,
even without the bonus program, independent reps can make thousands of
dollars per sale of each Wi-Fi TV Station.
ADVERTISEMENT
"There is no cost to become a Wi-Fi TV Independent Sales Representative and there is no multi-level or network marketing aspect to the sales plan. Rather, Wi-Fi TV is a viable sales opportunity for professionals who seek to be a part of the next phase of development of the Internet, and wish to be rewarded for hard work with high earnings. We are looking for serious individuals who want to join a winning team that has already closed sales to clients in such fields as car sales, real estate investment sales, restaurants, social networking, religion, spirituality, and where the new clients can also include virtually any business or charity," said Joe Soto, Director of National Sales Development.
Wi-Fi TV Inc. announced that it is continuing to expand its sales force, and has extensive live and online sales training available for qualified professionals.
Wi-Fi TV Is a Pioneer In Online TV
Wi-Fi TV Inc. has long touted the coming convergence of TV and the Internet, and provided the first online movie in December 1995. The Wi-Fi TV website is the only place on the Internet where you can watch hundreds of TV stations and chat with others watching the same program in a live chat box directly under the viewing screen, and get breaking news for each country and category listed, and download a dialer and make free phone calls and host live video parties all on one website.
About Wi-Fi TV Inc.
Wi-Fi TV Inc. provides Social Internet TV(TM), a new generation TV delivery platform that has a geographic sphere out-distancing any traditional cable or over-the-air TV broadcaster. Wi-Fi TV memberships are free at www.Wi-FiTV.com and include such perks as free online phone calls and free chat and free online parties.
Ownership of Premium Wi-Fi TV Stations is available at $25,000 (full details are on the website www.Wi-FiTV.com). For further details email info@wi-fitv.com.
The Wi-Fi TV Channel Sales Blog is at http://www.wi-fitvchannelsales.blogspot.com
The Company was launched in 1995 and has been publicly traded since November 1997, and has been a pioneer in the delivery of video and books over the Internet.
Press Relations
Wi-Fi TV Inc. has opened a content and technology demo room for the press in Newport Beach, California. For further information contact Colby Marceau, (949) 716-9397, info@wi-fitv.com.
Forward-Looking Statements
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. Wi-Fi TV and Social Internet TV are trademarks of Wi-Fi TV Inc. and all rights pertaining to these names are reserved. This press release shall not be deemed a general solicitation.
Contact:
Contact:
Colby Marceau
(949) 716-9397
Email Contact
--------------------------------------------------------------------------------
Source: Wi-Fi TV Inc.
URME - Uranium Energy Corp Provides an Update on its Goliad Operations
May 16, 2007 9:03:00 AM
AUSTIN, TEXAS--(CCNMatthews - May 16, 2007) - Uranium Energy Corp (OTCBB:URME)(FRANKFURT:U6Z)(BERLIN:U6Z) is pleased to provide its fourth update this year of progress at its 100%-owned Goliad Project in South Texas.
Texas Railroad Commission Concludes Drilling Activities Did Not Contaminate Goliad Wells, Dismisses Complaint
The Railroad Commission of Texas (RRC), the regulatory authority that oversees mineral exploration in the state of Texas, recently concluded its investigation into complaints that the Company's drilling activities have contaminated certain water wells, finding that Uranium Energy Corp's Goliad Project drilling has not contaminated the wells or the related aquifer.
The investigation was conducted after the Company voluntarily issued an invitation to county representatives to participate in collecting baseline samples of regional water wells earlier this year as part of the Company's mine permit preparations. The sampling indicated the presence of naturally-occurring radionuclides in groundwater within the area of review, and some Goliad citizens suggested that perhaps the Company's drilling was causing the "contamination". However, according to the assessment by RRC's groundwater hydrologist, "...no groundwater contamination has occurred as a result of the drilling activities." RRC issued its conclusions in a letter, stating that it considers the investigation of the alleged groundwater issues to be closed.
The RRC explained that it is not geophysically plausible for groundwater to be distributed by drilling activities, and that the groundwater radioactivity that had been identified is from natural sources in contact with the sampled wells themselves.
Subsequent testing of other water wells by the Goliad County Groundwater Conservation District has confirmed the presence of naturally-occurring radionuclides in other areas of the County, which is expected since Goliad County is host to several known uranium deposits, some of which have been explored in the past by other companies.
Company Targets Compliance with RRC Surface Drill Hole Restoration Requirements Before June 15th
In investigating the water quality issues (see above), RRC also examined the Company's exploration procedures as to compliance with the Company's exploration permits and applicable regulations.
The results of the inspection showed that although there was no imminent danger or harm, there were procedural matters with respect to which RRC found the Company to be non-compliant. Consequently, RRC issued a notice of violation regarding these matters. Required remedial action was limited to following the approved plugging procedures, marking the exact location of each borehole, and following RRC instructions regarding surface restoration.
The Company has been working diligently on these measures, and is working closely with RRC officials. The Company estimates that it will be in full compliance with the RRC prior to the deadline of June 15, 2007.
Mine Permit Process Advancing
The Company reports the following progress on its permitting operations at the Goliad Project:
- Quality assurance and quality control measures have been completed on water well samples;
- Holt Engineering has been engaged by the Company to perform geotechnical studies;
- A qualified soil scientist has completed a draft map of the entire project site, as part of the soils and sediments study;
- Progress has been made on the economic impact study and the ecological study; and
- Progress has been made on the mine plan and process facility designs, with the first full drafts anticipated to be completed by month-end.
About Uranium Energy Corp
Uranium Energy Corp (OTCBB:URME) is a US-based junior resource company with the objective of becoming a near-term ISR uranium producer in the United States. The Company is developing its advanced-stage Goliad Project in South Texas, with ISR uranium production projected to begin in 2009. Uranium Energy Corp controls one of the largest historical uranium exploration and development databases in the US. Through the use of these databases, the Company has acquired advanced uranium properties throughout the southwestern US. The operational management is comprised of pre-eminent uranium mining and exploration professionals, whose collective experience in the uranium mining industry gives the Company ongoing uranium mine-finding and uranium mine development expertise. Uranium Energy Corp is well positioned to capitalize on the current alternative energy boom. For more information, please visit www.uraniumenergy.com.
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended. Statements in this news release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. These statements involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein. Such risks and uncertainties may include, but are 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 and business conditions, the ability to attract and retain skilled personnel and factors outside the control of the Company. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's periodic reports filed from time-to-time with the United States Securities and Exchange Commission. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
FOR FURTHER INFORMATION PLEASE CONTACT:
Uranium Energy Corp
Contact North America
Investor Relations
1-866-748-1030 or (604) 682-9775
Fax: (604) 682-3591 (FAX)
Email: info@uraniumenergy.com
Website: www.uraniumenergy.com
Source: Uranium Energy Corp
----------------------------------------------
Uranium Energy Corp
Contact North America
Investor Relations
1-866-748-1030 or (604) 682-9775
Fax: (604) 682-3591 (FAX)
Email: info@uraniumenergy.com
Website: www.uraniumenergy.com
LUVT - Luvoo.com Is Proud to Announce the Completion of Its First Segment, the Luvoo Matchmaking Game, With Former Mr. Los Angeles Mike Ayach and Three Lovely Ladies
Wednesday May 16, 9:05 am ET
Former Mr. Los Angeles Goes to Dinner With Amanda, the "Drug Dealer!"
TUJUNGA, CA--(MARKET WIRE)--May 16, 2007 -- Luvoo International, Inc. (PINKSHEETS: LUVT), a growing global online dating company, is pleased to announce their first of many matchmaking games is featured on the home page of luvoo.com. People from around the world are able to visit luvoo.com and watch the first episode.
Amanda, a pharmaceutical representative, was selected as the winner. Amanda escorted Mr. Ayach to dinner at the Melting Pot in Old Pasadena, California, and all expenses were paid by luvoo.com. When questioned, Mr. Ayach stated he had a great time during the shoot and the dinner was fabulous.
L. Yvonne Vanhoek, President of Luvoo.com, stated, "In 1974, Arnold Schwarzenegger appeared on the famous television show, 'The Dating Game.' We wanted someone to appear with similar confidence and energy on our first matchmaking game, and Mike Ayach, former Mr. Los Angeles, gladly accepted. I am happy and pleased to have him be the first of many contestants." Yvonne further stated, "Our host Tane McClure was fabulous."
Luvoo International, Inc. (Other OTC:LUVT.PK - News) is a U.S. corporation that is aggressively gaining market share in the online dating industry. The company's strategy for growth is through celebrity endorsement, aggressive large-scale advertising, affiliate business opportunities and patent-pending concepts and technology such as "The Luvoo Dating Card," "Verified Member," and the latest concept, "Luvoo Matchmaking Game."
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward-looking matters discussed in this news release are subject to certain risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements including, but not limited to, the Company's liquidity and the ability to obtain financing, the timing of regulatory approvals, uncertainties related to corporate partners or third parties, product liability, the dependence on third parties for manufacturing and marketing, patent risk, copyright risk, competition, and the early stage of products being marketed or under development, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Contact:
Contact:
Luvoo International, Inc.
Web site: http://www.luvoo.com
L. Yvonne Vanhoek
Email Contact
--------------------------------------------------------------------------------
Source: Luvoo International, Inc.
NMRX - Numerex Collaborates With GE Security to Provide Wireless Services for Advanced Technology Real Estate Products
Wednesday May 16, 9:08 am ET
- GE Security's new productivity-enhancing ActiveKEY wireless real estate lock box key derives wireless connectivity from Numerex -
ATLANTA, May 16 /PRNewswire-FirstCall/ -- Numerex Corp. (Nasdaq: NMRX - News) today announced a strategic collaboration with GE Security, a wholly-owned subsidiary of the General Electric Company (NYSE: GE - News), to provide nationwide wireless services in support of GE's industry-leading advanced technology real estate products, including its new ActiveKEY wireless key.
The relationship between GE and Numerex helps real estate brokers and agents work more effectively and efficiently in support of sellers with wireless-based on-demand reporting, security and other services. Through this collaboration, the ActiveKEY real estate lock box key will be fully integrated with GE Security's electronic key box system.
Numerex services being provided include SMSXpress(TM) and GPRS, real time network activations, provisioning and configuration support and 7x24 network support services. Numerex will also provide GE with operational and customer support from its Network Operations Center in Atlanta, Georgia. The NOC operates 7/24 to safeguard, manage and deliver customer data.
"We are very pleased to have been selected by GE Security, a global leader in innovative products and the industry leader in real estate access management. We have worked very closely with their product development teams to deliver the network, module technology and supporting services for this ground-breaking solution," said Stratton Nicolaides, CEO of Numerex. "This agreement is a prime example of Numerex's unique ability to deliver network and M2M solutions for the wireless monitoring and communications industry."
"ActiveKEY's ability to deliver wireless updates, instant showing notifications, and an improved user interface make it one of the most significant and easiest to use new products introduced to the real estate industry in the past decade," said Stan Earnshaw, VP sales and marketing, GE Security. "We needed a partner we knew could deliver and thanks to a long and successful history and the company's leadership in the wireless machine-to- machine (M2M) data communications market, we knew Numerex was just the company to deliver for ActiveKEY."
Systems integration and testing has been completed and pilots are currently underway in multiple markets. Product launch date is scheduled for July, 2007.
As the market leader in real estate access management, GE Security's ActiveKEY represents the next generation of real estate management and security products and services. The wireless device and associated services will remotely manage and control access to real estate lock boxes and entry into properties. The service provides comprehensive on-line control and reporting tools that allows agents and brokers to manage and track property access. ActiveKEY provides listing agents with a high level of security and access control as well as real time reporting they can share with their property owner customers.
About Numerex
Numerex Corp. (Nasdaq: NMRX - News) is a wireless network service provider and a leading enabler of fixed and mobile machine-to-machine (M2M) solutions and technology. A single-source for its M2M customers, Numerex delivers real-time wireless data communications for purposes of monitoring, tracking, measuring, and intelligent management of remote assets with solutions tailored to meet the needs of each application, customer, and industry. A few of the vertical markets indirectly served by the Company include alarm security, vehicle location and asset tracking, point of sale, vending, and utility management. Numerex offers its products and services primarily throughout the United States, Canada, and Mexico. The company is headquartered in Atlanta, Georgia. For additional information, visit http://www.nmrx.com
About GE's Security Business
GE Security, a wholly owned indirect subsidiary of the General Electric Company (NYSE: GE - News), is a leading supplier of security and life safety technologies, with operations in more than 35 countries and $1.8 billion in annual sales. GE Security offers one of the industry's broadest product portfolios, covering explosives and narcotics detection, intrusion and access control, video surveillance, key management, and fire detection. GE Security's products are used to protect people and property across a wide range of industries, including aviation, law enforcement, banking, education, healthcare, mass transit, residential and retail.
GE Security was honored with Frost & Sullivan's 2007 Global Market Leadership Award for Container Security Devices for its CommerceGuard container security solution. For more information about GE Security and our products, please visit www.gesecurity.com.
GE Security, making the world safer.
For more information, contact:
Steve Hill Nick Conger
GE Security Edelman
510-857-1132 202-326-1779
steve.hill1@ge.com nick.conger@edelman.com
"Statements contained in this press release concerning Numerex that are not historical fact are "forward-looking" statements and involve important risks and uncertainties. Such risks and uncertainties, which are detailed in Numerex's filings with the Securities and Exchange Commission, could cause Numerex's results to differ materially from current expectations as expressed in this press release."
Marketing/Press Contact:
Numerex Corp.
Chuck Horne (770) 485-2548
Investor Relations Contact:
Numerex Corp.
Alan Catherall (770) 485-2523
Hayden Communications
Brett Maas (646) 536-7331
--------------------------------------------------------------------------------
Source: Numerex Corp.
PTEL - Petel Incorporated C.O.O. targets $6 Million Income from Video on Demand in First Year
Wednesday May 16, 9:00 am ET
(Pink sheets: PTEL.pk)
LONDON, UK, May 16 /PRNewswire-FirstCall/ -
Petel Incorporated Chief Operating Officer Phillip Evans today signified the impact he expects Video on Demand (V.O.D), delivered as part of his new brand SexQube.TV, to have on Petel Incorporated revenues in the first year following launch.
Ex-Penthouse UK Director Evans is targeting 700,000 downloads in the first 12 months of operation registrations to date indicate the Company is well on the way to exceeding its target. With each download costing $9.99, and delivering a net profit of $8.50, the Company is forecasting over $6 million in income from V.O.D. sales alone. This is in addition to revenue streams from a "couples friendly" online adult store, premium rate telephony, dating and chat services, advertising and third party sales.
Evans underlined how important V.O.D. is to the Company. "SexQube.TV is the world's first free-to-air adult broadband channel, and we are proud to have accomplished that. But the real strength of the channel is in the delivery, on demand of high quality video via our unique "pink button" technology. If you see a movie advertised whilst watching the channel, all you have to do is click the pink button, pay the 48 hour rental fee of $9.99 and you can enjoy the content instantly. Alternatively you can browse by sector through the catalogue on the left hand side of the page. We have recently announced high profile partnerships with Scala and Combat Zone, who will be supplying content, along with our own division Brit P(x)rn Productions. We hope to announce more partners in the very near future, putting us well on our way to delivering the world's largest VOD library for SexQube.TV viewers."
To view the Corporate Overview please visit the Investor Relations page at www.petel.co.uk
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. The words "estimate," "project," "intends," "expects," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbour" provisions of the Private Securities Litigation Reform Act of 1995. For a more complete description of these and other risk factors that may affect the future performance of Petel, Inc. see "Risk Factors" in the Company's Annual Report on Form 10-KSB and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made and the Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
Source: Petel Incorporated
WNYN - Warp 9 Continues Record Success With Third Quarter Results
Wednesday May 16, 9:00 am ET
Revenue increases 93% year-over-year
SANTA BARBARA, Calif., May 16 /PRNewswire-FirstCall/ -- Warp 9, Inc. (OTC Bulletin Board: WNYN - News), the premier provider of robust and scalable e- commerce platforms and services, today announced financial results for its third fiscal quarter ended March 31, 2007.
Total revenue for the quarter was $771,989, an increase of 93% from the year ago quarter's $399,885. The dramatic increase in revenue was primarily due to an increase in recurring monthly fees from our e-commerce software and in professional services -- both as a result of a larger customer base.
Total operating expenses for the three month period ended March 31, 2007 decreased by $110,606 to $540,090 from $650,696 in 2006. Consolidated net income was $26,405 as compared to a consolidated net loss of ($398,706) for the year prior.
Harinder Dhillon, Warp 9's CEO, commented on the quarterly results, "While the third quarter is traditionally not one of our stronger quarters, the results for the period serve as an indication that we continue to see demand for our products and services and are on track for continued strong growth."
About Warp 9
Warp 9, Inc. (www.warp9inc.com) is the premier provider of enterprise-class e-commerce platforms and services to mid-sized businesses in the catalog and retail industry. With a proven track record and years of experience in the industry, Warp 9's comprehensive and scalable suite of software platforms and technologies for online catalogs, e-mail marketing, and interactive visual merchandising help businesses leverage the Internet to increase sales. Offered on a fully managed Software-as-a-Service model, Warp 9 products deliver unique benefits to its customers by reducing total cost of ownership, lowering upfront cost, providing faster time to market and being a one-stop-shop for all things e-commerce. Known for its outstanding customer service, Warp 9 powers some of the most successful e-commerce sites for companies like Magellan's, 1-800-Flowers, and Spiegel.
Safe Harbor Statement:
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
--------------------------------------------------------------------------------
Source: Warp 9, Inc.
NMKT - NewMarket Technology, Inc. Releases Overview of Strategic Five-Year Plan for Continued Growth From $77 Million in Profitable Revenue to $500 Million in Highly Profitable Revenue
Wednesday May 16, 8:38 am ET
Company Discusses Strategic Five-Year Plan in Letter to Shareholders
DALLAS, TX--(MARKET WIRE)--May 16, 2007 -- NewMarket Technology, Inc. (OTC BB:NMKT.OB - News) CEO Philip Verges released a letter to shareholders today discussing an overview of the new five-year strategic plan. The letter is included in its entirety below.
Dear Fellow Shareholders:
NewMarket is approaching its five year anniversary since reinventing itself as a technology incubator -- introducing new technologies to new markets. We have much to celebrate and at the same time, we have much to review and improve. Over the last five years, we have adapted and improvised upon the strategic plan constructed to launch the Company's reinvention as a technology incubator. It is time to renew the strategic five year plan. The purpose of this letter is to begin a narrative providing shareholders with insight into the Company's plans to sustain growth and improve shareholder return over the next five years.
The core aspect of NewMarket's incubator business model is a corporate structure strategy that organizes incubating technologies into individual subsidiary companies. The purpose of housing incubating technologies into individual subsidiaries is to facilitate a future public listing of the individual subsidiaries. The individual listings are intended to enable shareholders to directly benefit from NewMarket investments in each incubated technology. The plan is to distribute stock in the independently listed subsidiaries to NewMarket shareholders in dividend distributions.
NewMarket has enjoyed rapid revenue growth with respectable profit for five years since reinventing itself as a technology incubator. Growing from about $1 million in revenue, to $77 million in revenue, with over $4 million in net income is a milestone worth celebrating. On the other hand, NewMarket has yet to issue one of its highly touted dividend distributions. This delay is cause for review and improvement.
Review and Improvement of the Dividend Strategy
In order for a dividend distribution to occur, NewMarket must first independently list a subsidiary operation. We have executed agreements to independently list three subsidiary operations in the last six months. In all three we are in various stages of reorganization. We are changing corporate names and ticker symbols; adjusting fiscal reporting years; reorganizing operations from one subsidiary to another and executing upon a host of additional activities both anticipated and unanticipated.
In hindsight, we did a poor job of anticipating the workload these activities created. You might say we bit off more than we could chew. All three of our first publicly listed subsidiary initiatives are proceeding forward, just at a pace burdened by an unanticipated workload. However, there is no deviation from the plan to issue dividends. Dividend distributions remain central to NewMarket's technology incubation business model.
The recent delays in reporting annual financial results and the associated financial statement amendments are part of the overall unanticipated workload. While we are working to recover from the annual reporting delays, we are running up against the current reporting requirements. We have resolved the inadvertent reporting discrepancy in our first independently listed subsidiary. We amended a previous subsidiary financial statement to resolve the inadvertent reporting discrepancy and yesterday filed the subsidiary's 2006 annual report that had been delayed pending the discrepancy's resolution. The amended subsidiary's annual report impacts the NewMarket Technology's parent annual report. Accordingly, an amended annual report will be filed for NewMarket Technology, Inc.
The increased workload to resolve the previous reporting discrepancy has impacted our capacity to meet current reporting requirements for the first quarter of 2007. Today we will file quarterly reporting extensions for both NewMarket Technology, Inc. and NewMarket China, Inc. We will file the NewMarket Technology, Inc. amended annual report, the NewMarket Technology, Inc. quarterly report and the NewMarket China, Inc. quarterly report within the extension period.
The previous reporting discrepancy and the impact to current reporting has been our priority within the overall unanticipated workload. Nevertheless, the overall workload includes a list of tasks required to complete the renaming, reorganization and revised reporting of the two additional publicly listed subsidiaries that make up NewMarket's first three publicly listed initiatives.
In addition to the three initial publicly listed subsidiary initiatives, the public listing of NewMarket's Voice over Internet Protocol (VoIP) subsidiary, Xiptel, is also underway. So is the acquisition of a portfolio of early stage technology supporting NewMarket's planned launch of a publicly listed intellectual property development subsidiary.
The above mentioned projects to establish publicly listed NewMarket subsidiaries account for five planned dividend distributions. On the horizon is also the independent listing of NewMarket's South East Asia subsidiary making a total of six planned dividend distributions. We have not lost our resolve to independently list subsidiary operations. We still believe the independent listing of subsidiary operations is the key to a perpetual technology incubator. We remain enthusiastic about working diligently to achieve the first dividend distribution. We even remain optimistic about a relatively timely first dividend distribution. Through it all though, we have learned it is harder than it looks.
In our renewed five year strategic plan we have recognized the gravity of the workload requirement to execute upon our independent listing and dividend distribution strategy. In turn, shareholders will see an expansion of our organization to accommodate the realities of the required workload and an improved forecasting of the efforts required to list subsidiaries and issue subsidiary stock in dividend distributions.
$500 Million Revenue Planning Goal
Reviewing past performance in conjunction with previous goals is the beginning of a renewed planning process. Setting future goals comes next.
As we have stated before, NewMarket is aggressively pursuing a profitable revenue goal of $500 million in 2010. We believe the goal is achievable. Realizing about 600% growth in three years is admittedly a formidable task. Even in light of our recent experience in biting off more than we can chew, we still believe the $500 million revenue goal in 2010 is achievable. It will require both organic growth and expansion through acquisition. Where our acquisitions in the past have resulted in a substantial increase in the NewMarket issued and outstanding, our future acquisition plans include a strategy to avoid such increases.
The plan we are discussing in this letter is a strategic five year plan. We have advertised that the revenue goal of this five year plan is $500 million. Even $500 million in five years is an aggressive plan, but five years is also further away than the previously stated $500 million in revenue in 2010. While we are building a five year plan to achieve $500 million in profitable revenue, we are not backing away from our goal to achieve $500 million in profitable revenue earlier than five years.
Planning and forecasting growth is a difficult exercise. It is a particularly difficult exercise for a company with multiple product lines in multiple markets. Our approach has been to forecast a range of growth and correspondingly update our growth objectives within that range based on interim progress. Over the last two years we have frequently updated our annual forecast based on quarterly results. Our five year goal is to minimally grow to $500 million in revenue. We are shooting to realize $500 million in revenue in 2010, in which case we would revise our five year revenue goal upward.
IP Yet To Be Developed and Reaching Beyond Information Technology
The NewMarket Technology incubator business model was launched five years ago on a foundation of information technology consulting and systems integration operations. The operations acquired by NewMarket to initiate the incubator business model had experience on the software side of VoIP technologies and had development and maintenance experience with software solutions from Cisco, Microsoft and Sun Microsystems.
As NewMarket looked for early technology solutions to acquire and build into its incubator business model, the Company concentrated on opportunities that were compatible with the VoIP and name brand software experience. Given that NewMarket's early investment resources were very limited, the Company also concentrated on early technologies that were not that early. In other words, NewMarket looked for early technologies that qualified as an early technology, but were not so early that immediate sales of the early technology would be impossible.
Since NewMarket has concentrated on technology acquisitions with immediate sales opportunities, the initial acquired technology portfolio did not include first to market opportunities. We did not have the first VoIP solution nor were we the only provider of on-line healthcare claims processing. Accordingly, NewMarket did not have the opportunity to enjoy a first to market return on investment on any of its initial technology acquisitions.
NewMarket's primary opportunity to generate a return on investment to shareholders resides in optimizing the strategy to publicly list subsidiary operations and issue stock in the subsidiary operations to NewMarket shareholders in dividend distributions. That return on investment opportunity can be optimized by improving the potential value of the emerging technologies that go into the subsidiary operations. The potential value of the emerging technologies can be improved by acquiring earlier stage technologies that can deliver first to market return on investment opportunities.
Going forward, NewMarket is working to initiate projects with earlier stage technologies to include intellectual property (IP) yet to be developed. NewMarket has announced an initiative, still in the planning stages, to launch a subsidiary operation concentrating on the acquisition and development of IP. Recently, I have joined the Board of Directors of Enable Intellectual Property Commercialization Corporation in conjunction with an additional initiative to access earlier stage technology investment opportunities for NewMarket.
In addition to working on earlier stage technologies, NewMarket is also exploring early stage technology opportunities outside of its traditional software centric experience. NewMarket's Chinese subsidiary has launched a product development and sourcing service to develop and manufacture innovative products for the Western market. We are engaged in early negotiations with a clean coal technology for deployment in China. We are also engaged in negotiations with a medical device company with existing sales in Europe and a pending FDA approval in the United States.
Over the next three weeks we will release additional information within a series of letters to shareholders that provides more detail on both the NewMarket expansion efforts outside of its traditional software centric focus and the initiatives to engage earlier stage technologies.
New Emerging Markets
The globalization of a free market economy is creating regional, high growth markets fueled by early stage companies that can realize rapid growth funded by modest investments. The majority of NewMarket's growth has come from emerging market acquisitions and investments. NewMarket is currently in China, South America and South East Asia.
NewMarket has enjoyed some market recognition for its success in launching emerging market operations and is likewise enjoying some unsolicited opportunity both within the emerging markets where we are currently operating as well as opportunities in additional emerging markets. For example, NewMarket is currently bidding on a project in Kazakhstan, and I recently had the opportunity to meet with the Finance Minister of Kenya and speak about NewMarket's technology incubation business model at a Kenyan Business Development Conference held in Washington D.C. Furthermore, NewMarket has long had its sites set on Eastern Europe and has managed a handful of projects to date in Eastern Europe.
Two of NewMarket's first three publicly listed initiatives are emerging market subsidiaries. The emerging market subsidiaries have grown faster than most of our emerging technology subsidiaries into operations that can produce earlier shareholder returns through dividend distributions. We anticipate that emerging technology investments in emerging markets will similarly produce emerging technology returns that, on average, exceed the United States emerging technology returns.
Again, over the next three weeks we will release additional information within a series of letters to shareholders that provides more detail on our various emerging market initiatives.
Micro Capital Market Foundation
The global market place is growing by leaps and bounds. The news media is rich with business stories from all over the world. More and more people in the United States are conversant in the names of foreign currencies and foreign stock exchanges. Ironically, as the various regional economies around the world evolve and merge into a larger overall global economy, the average size of the businesses that make up that global economy are getting smaller.
In the United States, about fifty percent of the GDP comes from small business as does about fifty percent of employment. An even greater percentage of new jobs every year comes from small business. Globally, most foreign GDP comes from small business. In China, the fastest growing notable economy in the world, the vast majority of businesses qualify as small business by United States Small Business Administration standards.
With all the small business growth in the global economy, an improved small business investment environment is likely to follow. The Over the Counter Bulletin Board (OTCBB), the premier exchange for small and early stage business in the United States, is a very young exchange. In April, it celebrated its tenth anniversary. The OTCBB was only approved for operation by the SEC in April of 1997. The New York Stock Exchange on the other hand is more than 200 years old. The micro capital market is in its infancy and NewMarket is one of the early adopters.
We have been very vocal regarding what we believe to be fundamentally different stock trading and valuation dynamics. In our discourse, we by no means excuse micro cap share price performance on the grounds of alleged stock manipulation. The micro cap public market is rich with allegations of stock abuses and corresponding finger pointing.
We are alternatively trying to share what we have learned in our five years of experience -- experience that stretches half the life of the OTCBB. We are trying to share our experience for the benefit of other small businesses, as well as for the benefit of small business investors. We believe a better small business investment environment is also better for NewMarket.
We will continue in our efforts to present and write about our experience in the micro cap markets. This will include not only our experience on the OTCBB, but what we learn as we begin to explore foreign micro cap listing opportunities. We plan to specifically improve NewMarket's overall capital structure by continuing to prepare and eventually move NewMarket, the parent company, to an upgraded exchange.
The series of shareholder letters over the next three weeks will include additional details regarding our ongoing experience on the OTCBB exchange and how it impacts our strategic five year plan.
The Coming Three Weeks and Follow Up Letters
I have written numerous shareholder letters over the last five years in an effort to bridge the communication gap between required filings and ordinary press releases. As a small company we don't have access to the communication resources of larger companies. Management is not getting interviewed on CNN. We don't have the budgets to attend nationally recognized conferences. We don't have the public relations department to win coverage in print. NewMarket's alternative has been the shareholder letter. I have given you good news and bad news in these letters. I try to start each letter I write to shareholders with the greeting "Fellow Shareholders." I do so to emphasize the opportunity we share. The good news I get to express in these letters is good news for me too. The bad news is bad news for me too.
This correspondence and the following correspondences are intended to communicate that we are learning and integrating what we learn. We are learning from our mistakes and our successes. The Company continues to improve and we look forward to even more dramatic growth over the next five years than what we have achieved in the first five.
Best Regards,
Philip Verges
CEO and Chairman
NewMarket Technology, Inc.
To be added to NewMarket's corporate e-mail list for shareholders and interested investors, please send an e-mail to ir@newmarkettechnology.com.
About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket helps clients maintain the delicate balance between maintaining legacy systems and gaining a competitive edge from the latest technology innovations. NewMarket provides certified integration and maintenance services to support the prevailing industry standard solutions to include Microsoft, Cisco Systems, SAP, Siebel and Sun Microsystems. Concurrently, NewMarket continuously seeks to acquire undiscovered emerging technology assets to incorporate into an overall product portfolio carefully packaged to complement the prevailing industry standard solutions. NewMarket delivers its portfolio of products and services through its global network of Solution Integration subsidiaries in North America, Latin America, China and Singapore. NewMarket maximizes shareholder return on investment by independent listing of consolidated regional and emerging technology subsidiaries in order to issue subsidiary stock in shareholder dividends. NewMarket ranked Number Five on Deloitte's 2006 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. Rankings are based on percentage revenue growth over five years, from 2001-2005. The Company grew from less than $1 million in revenue in 2001 to over $50 million in profitable revenue in 2005.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause NewMarket's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
Contact:
Contact:
NewMarket Technology, Inc.
Rick Lutz
404-261-1196
Investor Relations
ir@newmarketlatinamerica.com
http://www.newmarketlatinamerica.com
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Source: NewMarket Technology, Inc.
SCWH - SunCom Wireless Completes Exchange Agreement, Significantly Reducing Consolidated Debt
Wednesday May 16, 8:48 am ET
Company Also Completes Merger with Subsidiary, Enabling Implementation of 1-for-10 Reverse Stock Split
Management Team Remains in Place; New Board of Directors Constituted
BERWYN, Pa., May 16 /PRNewswire-FirstCall/ -- SunCom Wireless Holdings, Inc. (OTC Bulletin Board: SCWH - News)* has completed the previously announced transactions under an Exchange Agreement between SunCom Investment Co. LLC and holders of certain of SunCom Wireless Inc.'s subordinated notes, as well as the merger between the SunCom Wireless Holdings, Inc. (the Company) and SunCom Merger Corp. Both transactions were approved by the Company's shareholders on April 20, 2007, and have since been approved by the Federal Communications Commission.
As a result of the Exchange Agreement, the Company has reduced its consolidated debt by approximately $731.6 million and annual consolidated interest expense by approximately $66.2 million, giving the Company greater financial flexibility. Select bondholders who previously held or beneficially owned approximately 98.3% of the aggregate outstanding 9-3/8% Senior Subordinated Notes due 2011 and 8-3/4% Senior Subordinated Notes due 2011 (the "Notes") of the Company's indirect, wholly-owned subsidiary, SunCom Wireless, Inc., have exchanged their Notes for approximately 87.8% of SunCom Wireless Holdings' common stock.
In the merger transaction, each outstanding share of the Company's Class A Common Stock was converted into 0.1 share of Class A Common Stock for the purpose, among others, of implementing a 1-for-10 reverse stock split.
The SunCom Wireless senior management team -- including Chairman and CEO Michael E. Kalogris, Executive Vice President and Chief Financial Officer Eric Haskell and Executive Vice President of Operations Bill Robinson -- remains in place.
A new SunCom Wireless Holdings Board of Directors has now been constituted and includes:
-- Michael E. Kalogris, chairman and CEO of SunCom (existing board member)
-- Scott Anderson, Cedar Grove Partners, LLC (existing board member, audit
committee chair)
-- Edward Evans, Stelera Wireless; former chairman and CEO of Syniverse
Technologies and COO of Dobson Communications Corporation
-- Niles K. Chura, Highland Capital Management, L.P.
-- Pat Daugherty, Highland Capital Management, L.P.
-- Karim Samii, Pardus Capital Management L.P.
-- Joe Thornton, Pardus Capital Management L.P.
-- James Volk, CFO of VoiceVerified; former CFO of UbiquiTel.
Two additional independent Directors are expected to be appointed soon.
"We are pleased to complete these transactions that significantly strengthen SunCom's financial position. We are focused on the operations of our business and providing the best possible wireless service to our more than one million customers," said Kalogris.
"I'd like to express my appreciation to the outgoing directors of the SunCom Board including Matt DeVito, Arnie Sheiffer and Eric Haskell who served the company and its shareholders with great distinction," added Kalogris.
About SunCom Wireless
SunCom Wireless is a leader in offering digital wireless communications services to consumers in the Southeastern United States, Puerto Rico and the U.S. Virgin Islands. With more than 1 million subscribers, SunCom is committed to being a different kind of wireless company focused on treating customers with respect, offering simple, straightforward plans and providing access to the largest GSM network and the latest technology choices. SunCom Wireless is a proud provider of Wireless AMBER Alerts. For more information about SunCom products and services, visit www.suncom.com or call 877-CALL-SUN (1-877-225-5786).
*EFFECTIVE May 16, 2007
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Source: SunCom Wireless Holdings, Inc.