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PRVB - Powder River Reports First Quarter Revenues Over 5 Million
May 16, 2007 7:00:00 AM
CALGARY, ALBERTA -- (MARKET WIRE) -- 05/16/07 -- Powder River Basin Gas Corp. (OTCBB: PRVB), a revenue generating producer, acquirer and marketer of crude oil and natural gas properties, today announced earnings for the first quarter of 2007.
The Company's net revenue from oil and gas sales increased to $952,191, from $239,280 for the first quarter of 2006. This represents an increase of $712,911, or approximately 298% over the previous year.
The Company also had net revenues from working interest sales of $4,740,843, an increase of $120,843 or approximately 2.6% compared to $4,620,000 for the same period of 2006.
The Company had a net profit of $3,411,512 before income taxes.
Total expenses increased significantly for the three months ended March 31, 2007 to $2,293,944, from $374,183 in 2006. The increase in expenses is directly associated with the increase in the Company's business activities over the prior year period. Increases occurred in administration, lease operating expenses, marketing administration, legal and professional fees.
The increase in expenses was necessary to add support staff to achieve sales of working interests as well as to continue to acquire, develop and operate additional oil and gas properties. The Company also implemented a management compensation program, effective January 1, 2007. Prior to this date, there was no salary or compensation for management.
"We are extremely pleased with the continued expansion and growth of Powder River and look forward to continuing our success in 2007," stated Powder River Basin Gas Corp. CEO Brian Fox.
Powder River Basin Gas Corp. is active in production, acquisition, and marketing of crude oil and natural gas properties.
Powder River Basin Gas Corp. trades on the OTCBB under the symbol PRVB.
This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes that the expectations in such statements are reasonable, there can be no assurance that such expectations will prove to be correct.
Contacts:
Powder River Basin Gas Corp.
Investor Relations
Steve Weiss
(609) 529-3671
Email: info@powderrivergascorp.com
Website: www.powderrivergascorp.com
Princeton Research Inc.
Market Analyst
Mike King
(702) 650-3000
AMUG - American United Gold Corporation Announces Investor-Oriented Websites
May 16, 2007 1:30:00 AM
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 16, 2007) - American United Gold Corporation (OTCBB:AMUG) -
American United Gold Corporation (the "Company") hereby informs its shareholders and potential shareholders to visit the following websites for relevant details pertaining to the Company's new business direction:
www.americanunitedgold.org for basic corporate information;
www.grandmontgold.com to review the micro mining business model and
The Company advises investors that any inquiries and clarifications should be addressed to contact details provided on the above websites.
Cautionary Statement:
The websites mentioned in the press release contain certain assumptions and forward-looking statements, both of which may be proven either partially or entirely incorrect by future events. The Company takes no responsibility for any investments made or exited on the basis of the assumptions and forward-looking statements contained in the websites mentioned. In any event, those desiring to trade in the Company's shares are recommended to seek qualified and independent advice.
FOR FURTHER INFORMATION PLEASE CONTACT:
American United Gold Corporation
Dave Uppal
(604) 692-2808
Website: www.americanunitedgold.org
Source: American United Gold Corporation
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American United Gold Corporation
Dave Uppal
(604) 692-2808
Website: www.americanunitedgold.org
ARSNF - Astris Energi Provides Update On Financial Statement Filings and Notice of Annual and Special Meeting
Tuesday May 15, 5:03 pm ET
MISSISSAUGA, Ontario, May 15, 2007 (PRIME NEWSWIRE) -- Astris Energi Inc. (OTC BB:ASRNF.OB - News) (the ``Company'' or ``Astris'') confirmed today that there have been no material changes with respect to the information provided in its press release and Notice of Default issued on April 30, 2007. Astris expects to file its annual financial statements (including its MD&A) for the fiscal year ended December 31, 2006 (the ``2006 Statements'') on or about May 21, 2007 and no later than May 25, 2007. The directors and senior officers of the Company are subject to a management cease trade order issued by the Alberta Securities Commission (``ASC'') prohibiting such persons from trading in the Company's securities. The management cease trade order is expected to be in place until approximately two business days following the filing of the 2006 Statements with the ASC.
Astris also announced that its annual and special meeting of shareholders will take place on July 10, 2007 at 10am in the Boardroom of Lang Michener LLP, BCE Place, 181 Bay Street, 25th Floor, Toronto, Ontario, Canada. The special business of the meeting will be to consider the sale of substantially all of the Company's assets, as described in the Company's press release of April 17, 2007. A notice of record and meeting dates was filed on SEDAR on May 11, 2007. Astris' shareholders of record on June 4, 2007 will be entitled to notice of the meeting and to vote at the meeting.
The Astris Energi Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2132
ADVERTISEMENT
Notes on Forward-Looking Statements
This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, without limitation, statements with respect to Astris's plans, objectives, expectations and intentions and other statements identified by words such as ``may,'' ``could,'' ``would,'' ``should,'' ``believes,'' ``expects,'' ``anticipates,'' ``estimates,'' ``intends,'' ``plans,'' or similar expressions. These statements are based upon the current assumptions, beliefs and expectations of Astris's management and are subject to known and unknown risks and uncertainties, many of which are beyond Astris' control. Such risks include those detailed in Astris's filings with the Securities and Exchange Commission and the ASC. Actual results may differ from those set forth in the forward-looking statements. Astris undertakes no obligation to update any forward-looking statements, except as required by law.
Contact:
Astris Energi Inc.
Anthony Durkacz, Vice President, Finance
905-608-2000
Fax: 905-608-8222
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Source: Astris Energi Inc.
QTEK - Quintek Quarterly Revenues Increase 49% Over Prior Quarter
Tuesday May 15, 5:09 pm ET
HUNTINGTON BEACH, CA--(MARKET WIRE)--May 15, 2007 -- Quintek Technologies, Inc. (OTC BB:QTEK.OB - News), a global provider of Business Process Outsourcing (BPO) and best-of-breed technology consulting services, announced today that its revenues for the quarter ending March 31, 2007 increased 49% over the quarter ending December 31, 2006. Additionally the Company reported net income of $319,393 or $.002 per share. The material increases in revenues are the result of increased business from new customers. The net income is the result of the increased fair value of warrants issued and reduced operating expenses.
The Company's revenues for the quarter ending March 31, 2007 totaled $594,064, an increase of $94,185 or 19% over the quarter ending March 31, 2006, which were $499,879. The revenues for the Quarter ending March 31, 2007 also represent an increase of $196,781 or 49% over the revenues for prior quarter, ending December 31, 2006, which were $397,283. The increasing revenues are the result of increased sales to new customers from the sales efforts previously announced by the company.
Quintek reported a net income of $319,393 or $0.002 per share versus a net loss of ($1,340,190) or ($0.010) per share for the three months ended March 31, 2007 and 2006 respectively, reflecting an increase of $1,659,583. The increased net gain and net income number for the quarter resulted from increased fair value of issued warrants and decreased operating expenses.
The Company's operating expenses decreased $863,977 from $1,358,494 for the three month period ended March 31, 2006 to $494,517 for the three month period ended March 31, 2007. The decrease resulted primarily from a decrease of approximately $802,759 in stock-based compensation for officers, directors, employees and consultants. The Company's non-operating income increased $815,244 to $663,194 for the three months ended March 31, 2007 from and expense of $152,050 for the three months ended March 31, 2006. The increase was primarily due to changes in the fair value of issued warrants of $818,509. The interest expense totaled $87,281 and $140,421 for the three months ended March 31, 2007 and 2006, respectively. The decrease in interest was due to a decrease in the amount of debt we have issued.
Andrew Haag, Quintek CFO, stated, "The financial results for Quintek are improving, as we are posting impressive revenue gains and have reported net income of $0.002 per share." He added, "We previously announced revenue increases for this quarter of 49%, an impressive number which shows how our efforts to reduce operating expenses are impacting the Company's performance. The resultant decrease in operating expenses will provide us room to grow financially and increase profits from our business." Haag continued, "The improved financial performance of the Company is something we expect to continue, and we appreciate the patience of our investors while we transition this Company to profitability."
James Kernan, Quintek's CEO, stated, "The results of the Company's latest quarter are encouraging. However, we do not want to set an expectation of profitability from our recent net income results." Kernan added, "We do however expect to continue to be in a position to deliver solid revenue increases. Quintek is a growing company and I would not have joined if I was not highly confident that we can continue to grow and sell through the challenges of the past." He concluded, "I have stated before that efforts are great, though it is the results that matter. Today Quintek released results that are demonstrating our increased focus on cutting costs and expanding sales."
About Quintek Technologies, Inc.
Quintek Technologies, Inc. (OTC BB:QTEK.OB - News), through its wholly owned subsidiaries Quintek Services, Inc. (QSI) and Sapphire Consulting Services, Inc., provides services to enable Fortune 500 and Global 2000 corporations to reduce costs and maximize revenues.
QSI delivers Business Process Outsourcing (BPO) services and solutions that enable companies to secure and manage their key data processing demands with optimal efficiency and minimal costs. As a next-generation technology company, Quintek is unhindered by outdated information technology systems, and thus is able to deploy best-of-breed solutions in all aspects of BPO. Forester Research, Inc. estimates that the market for BPO services will grow from $19 billion in 2004 to $146 billion in 2008. Business Insights, estimated the BPO market as the fastest growing area of the IT services sector. Growing at 8% annually, it is expected to grow from $112.1 billion is 2005 to $144 billion in 2008.
Sapphire Consulting Services, Inc. offers a broad range of supply chain management consulting services. Sapphire assists organizations to create a higher level of customer satisfaction, enhance supply chain capability and achieve consistent competitive advantage through reduced product cost, reduced inventory investment and improved supply chain security. A study by IDC found the SCM services market will expand from $26.1 billion in 2002 to $40.5 billion in 2007, representing a five-year compound annual growth rate (CAGR) of 9.2%.
For more information, visit http://www.quintek.com.
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Quintek to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in Quintek's Annual Report on Form 10-KSB for the fiscal year ended June 30, 2006 and any subsequent reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and Quintek assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, inability to timely develop products or services, inability to deliver products or services when ordered, inability of potential customers to pay for ordered products or services, and political and economic risks inherent in domestic and international trade.
Contact:
CONTACTS:
Quintek Technologies, Inc.
Andrew Haag
Chief Financial Officer
(714) 848-7741, Ext. 14
Email Contact
Communications:
Cinapsys, Inc.
Mark Moline
(760) 458-4899
Email Contact
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Source: Quintek Technologies, Inc.
DCBI - DC Brands International's CEO and EVP Report Successful Launch of AmCom
Tuesday May 15, 6:33 pm ET
DENVER, CO--(MARKET WIRE)--May 15, 2007 -- DC Brands International's (Other OTC:DCBI.PK - News) President and CEO Richard Pearce and Executive Vice President Richard Muscarella traveled to Los Angeles last week to help train and launch new distributor AmCom. Based out of City of Industry, California, AmCom is a mega-sized distributor that will sell a mix of both Dickens Energy Cider and Turn Left Energy.
"AmCom is off to a stellar start," said Muscarella. "On our two days there for the initial launch and crew drives we saw the beginnings of a very successful distribution channel. The sales team even sold four pallets of product in the first few days -- that's huge. AmCom is up and running and we're happy to see their excitement toward our products."
AmCom focuses on two major distribution sectors: mobile catering units and vending business. The company's sizable market reach can be attributed to its selling to sub-distributors where the mobile catering coaches park, then selling to the coaches themselves. This creates an exponentially larger area of distribution.
Further updates from last week's meetings will be provided over the course of this week.
For more information on DC Brands International, visit their website at www.TurnLeftEnergy.com and DickensEnergyCider.com.
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 DC Brands International 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 DC Brands International as of the date of this release. DC Brands International and its managers and agents undertake no obligation to publicly update any forward-looking statements.
Contact:
CONTACT:
Keith Howard
303-279-3800
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Source: DC Brands International, Inc.
STWG - S2C Global Installs Its First Mass Production Aquaduct Unit in North America
Wednesday May 16, 8:00 am ET
LAS VEGAS, NEVADA--(MARKET WIRE)--May 16, 2007 -- S2C Global Systems (OTC BB:STWG.OB - News), a world leader distributing 5-gallon bottled water to the consumer, has announced that its first mass production Aquaduct unit is being installed in Surrey, British Columbia. This installation in Surrey, which is part of the Greater Vancouver area, marks the second installed Aquaduct in North America following installation of a unit in Montreal. Both locations are under the property management of Canada's largest Real Estate Investment Trust. It has hundreds of more locations suitable for the Aquaducts providing immediate dissemination and future production.
The 5-gallon bottled water industry is a $10 Billion industry and S2C Global plans to penetrate this market with increased distribution efficiencies. Its self-contained Aquaduct units are to be strategically placed in mall parking lots in major metropolitan areas in the U.S. and Canada allowing for 24/7 access to consumers as well as providing automated billing, tamper proof products, and empty bottle return.
Today's development follows last week's announcement by the company that it has the capability to mass produce its Aquaduct unit. S2C Global Systems President and CEO, Rod Bartlett was excited with today's development. He said, "This is a major step for our company. Not only do we have the capability to roll our product off the line, but we are now installing them in Canada and the US just as we outlined in our business plan. This, of course, is the first of many and we look forward to installing more in the near future."
Industry reports show that between 449 and 680 million bottles of five gallon water were sold last year in the United States. Initially, S2C plans to install 62 of its Aquaduct units in 5 North American centers.
About S2C Global Systems
S2C Global Systems, Inc. designs and develops highly efficient automated distribution systems to move products directly from suppliers to consumers. Established in 2004, S2C (www.s2cglobal.com) has built the world's first commercial vending system that accepts back return containers. S2C's first system known as the "Aquaduct"(TM) delivers prepackaged 5-gallon bottled water from the bottling plant to the consumer.
Forward-Looking Statements
The foregoing news release includes numerous forward-looking statements concerning the company's business and future prospects and other similar statements that do not concern matters of historical fact. The federal securities laws provide a limited "safe harbor" for certain forward-looking statements. Forward-looking statements in this news release relating to product development, business prospects and development of a commercial market for technological advances are based on the company's current expectations. The company's current expectations are subject to all of the uncertainties and risks customarily associated with new business ventures including, but not limited to, market conditions, successful product development and acceptance, competition and overall economic conditions, as well as the risk of adverse regulatory actions. The company's actual results may differ materially from current expectations. Readers are cautioned not to put undue reliance on forward-looking statements. The company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or for any other reason.
This press release is available on the S2C Global Systems IR HUB for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com/IR/s2cglobal. Alternatively, investors are asked to e-mail all questions and correspondence to STWG@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and correspondence directly.
Contact:
Contacts:
S2C Global Systems, Inc. - Corporate Inquiries
Rod Bartlett
President & CEO
1-866-264-7670
Email: administration@s2cglobal.com
Website: http://www.s2cglobal.com
AGORACOM Investor Relations
Investor Relations
Email: STWG@agoracom.com
Website: http://www.agoracom.com/IR/s2cglobal
--------------------------------------------------------------------------------
Source: S2C Global Systems, Inc.
CNWT - University Enhances Security Responsiveness With Cistera Networks' Event Alerting and Notification Solutions for IP Communications
Wednesday May 16, 8:00 am ET
DALLAS, TX--(MARKET WIRE)--May 16, 2007 -- Cistera Networks (OTC BB:CNWT.OB - News), a leading provider of Enterprise Application Platforms and Engines for IP Communications, announced today that Prairie View A&M University has joined the growing list of universities that have enhanced campus security by adding Cistera's Event Alerting and Notification Solutions for IP Communications.
Prairie View A&M University, located in Waller County, north of Houston, was founded in 1876, and is a member of the Texas A&M University System. More than 8,000 students are enrolled at this university, which is noted for its commitment to excellence in teaching, research and service. Because of its rural location, the administration needed to enhance security by linking the university police department directly to Waller County's 911 emergency response center.
A Cisco Unified Communications solution was deployed at the campus with Cisco phones in every dorm and administrative building. The Cistera ConvergenceServer (CCS)™, the award-winning enterprise application platform for IP Communications, was selected because of the emergency alerting features available in the company's Event Alerting and Notification (EAN) solution. Prairie View A&M requested simultaneous alerting of the campus police department when 911 calls are made from campus phones to Waller County's emergency response center. In addition, they required that the campus police dispatcher have the ability to speak directly with the caller as well as record the conversations -- a key differentiator for Cistera Solutions.
"Our campus police department has 33 members that are deputized by the State of Texas, but before we deployed the Cistera emergency 911 applications along with Cisco IP Communications, emergency calls went only to the county responders who then notified the university of the calls," commented Donald Keel, VoIP Manager for Prairie View A&M. "Now security and response times have improved because our dispatcher receives the call concurrently with Waller County, and campus police are able to respond immediately. The system identifies the location of the caller, so help can be dispatched as soon as the emergency call is received. Administrators, parents and students should feel safer, and our university is continuing its tradition of excellent service."
"Our Event Alerting and Notification features, such as the E911 triggers, improve the university's ability to respond in emergency situations," says Derek P. Downs, President of Cistera Network. "E911 triggers are an example of the expanded functionality made possible with IP Communications. Return On Investment is a key driver for IPT adoption, but the added security that E911 delivers goes beyond that calculation -- what price can be put on speeding the response to an emergency?"
The CCS, with its robust suite of application engines, offers comprehensive solution sets for multiple vertical markets, including Financial, Government, and Healthcare. These solutions deliver the functionality to enhance productivity and extend the capabilities of the IP Communications network. The CCS adds critical competency and features such as text and audio broadcasting, messaging, recording and content streaming within a Cisco Communications environment. Cistera has platforms that support 100 to 100,000 users.
About: Cistera Networks
Cistera Networks makes Application Driven Telephony a reality by setting the new standard in advanced IP phone application platforms and engines for IP Communications environments. The Cistera ConvergenceServer(TM) (CCS) uses the successful Cistera Enterprise Platform for IP Communications to provide Unified Application Administration and Fault and Performance Management for successful IP Communications Application deployments. Cistera provides advanced technology for numerous vertical markets including education, finance, healthcare and government. Cistera Networks maximizes IP phone intelligence -- taking it to an entirely new level. www.cistera.com
This release may be deemed to contain forward-looking statements that are subject to the safe harbor provisions of the Private Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events and the future financial performance of Cistera Networks that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to the documents filed by Cistera Networks with the SEC, specifically the most recent reports on Form 10-K and 10-Q, each as it may be amended from time to time, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements.
Contact:
Contact:
Investor Relations
Ron Both
Liolios Group, Inc.
Email Contact
(949) 574-3860
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Source: Cistera Networks, Inc.
USSE - U.S. Sustainable Energy Corp. Announces Initial "GREEN" Consumer Products for Automotive and House & Garden Markets
Wednesday May 16, 8:00 am ET
NATCHEZ, MS--(MARKET WIRE)--May 16, 2007 -- U.S. Sustainable Energy Corp. (Other OTC:USSE.PK - News) announces today a Green Consumer Product Strategy to capture the mass retailers with a "GREEN" branding strategy by initially offering three products to the Car and Truck Automotive and House and Garden Markets.
Dr. Mathew Zuckerman, USSE's new CEO and President, commented, "The products from the Rivera Hydrolysis/Pyrolysis Process are too good to be fuels alone, and just like the Big Oil companies, USSE has begun to dedicate a portion of their oil production to other high-value-added products. I come to USSE to devote 100% of my time to the building of this company. As a measure of my commitment, I am in the process of assigning to USSE five U.S. and one Foreign pending patents of which I am the sole inventor. These patents have application to USSE's products and catalytic process enhancement that are the embodiments of biological, nano and chemical technologies. I personally subscribe to the philosophy of 'putting all my efforts into one large opportunity,' and that is exactly what John Rivera has given me the opportunity to do at USSE."
Our new GREEN products for Truck Diesel Engines are: BD-66(TM) with E-Mix(TM) -- a 50-to-1-or-more concentration of E-Mix(TM) in BD-66(TM) fuel multiplies biofuel availability, increases "GREEN" content to 66%, and sets a new standard for efficient operation and for sub-freezing temperatures -- and E-Oils(TM), a soon-to-be-released 100% bio-degradable "GREEN" SAE 10W/30W motor oil to be followed by a full line of other oils and lubricants.
Our new GREEN products for Car Gasoline Engines are: Sub-Z(TM) -- an additive to gasoline that enhances engine performance and reduces exhaust emission and burns water condensates at sub-zero ambient temperatures -- and E-Oils(TM), a soon-to-be-released 100% bio-degradable "GREEN" SAE 10W/30W motor oil to be followed by a full line of other oils and lubricants.
Our initial GREEN products for the House and Garden segment are: E-Potting(TM) -- potting 7-3-7 "GREEN" ash for house and garden use as a potting soil and as a plant fertilizer that has the dual properties of a large and immediate nutrient release and a slow nutrient release over time -- and E-Oil(TM), a 2-cycle engine "GREEN" motor oil for smokeless operation of motorized garden tools, marine engines and recreational vehicles.
USSE is in negotiation with an organization to bring these new products and branding initiatives to a veteran sales team to launch these products to Home Depot, Lowe's, Target, K-Mart, Ace Hardware and True Value. All of these Retailers have "GREEN" product/shelf allocation initiatives.
About U.S. Sustainable Energy Corp.
U.S. Sustainable Energy offers a revolutionary new energy process that creates three times more fuel per feedstock unit than any other biofuel process. The company has engineered the first bio-renewable fuel able to serve as a replacement to diesel, with none of the negative traits associated with competitive green fuels. The USSEC biofuel is created at a nominal cost as the byproduct of producing organic fertilizer from recycled waste products -- now known as the "Rivera Process," a discovery made during research into agricultural biomass. The technology offers a solution to foreign oil dependence, a significant reduction to the cost of electricity and ethanol production, and the eventual reversal of greenhouse gas emissions.
Management and current operations are focused on leveraging the superior performance and low cost of the fertilizer, biogas and biofuel within bundled plant operations, turnkey energy contracts, ethanol production, and other critical applications that rely on energy as a major cost component. For more information please visit www.ussec.us.
Safe Harbor Statement
Certain matters discussed in this press release contain forward-looking statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. 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: general economic and business conditions, 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 subsequent U.S. actions and reactions.
Contact:
Investor Contact:
Redwood Consultants, LLC
415-884-0348
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Source: U.S. Sustainable Energy Corp.
NTRZ - NutraCea Announces Purchase of New Pellet Manufacturing Equipment to Serve Animal Nutrition Customer Demands
Wednesday May 16, 8:00 am ET
- Production of Stabilized Rice Bran in Pellet Form will Supply Premium Animal Nutrition Accounts -
PHOENIX, May 16 /PRNewswire-FirstCall/ -- NutraCea (OTC Bulletin Board: NTRZ - News), a world leader in stabilized rice bran (SRB) research and technology, announced today it has purchased specialized equipment for blending and pelleting Stabilized Rice Bran (SRB). The pelleting equipment allows for a product line extension, which presses the stabilized bran into a pellet form specifically designed for stand alone premium performance supplements and formulated feeds in the equine, pet food and wildlife markets.
The assets are fully operational and are designed to service new and existing equine customers. The Company expects significant demand from many of its key customers including Hallway Feeds, Transcon Trading Co. in the international market and others large animal nutrition customers.
"By allocating part of our bulk animal production to this new pelleting operation, NutraCea will be achieving an improved level of value from its existing supply of bran and strengthen its relationship with new and existing customers who need the value-added production," stated Leo Gingras, COO of NutraCea.
"In accordance with our mission and strategic plan, we continue to ramp up our production capabilities through the building of new plants. Additionally, we look for strategic acquisitions and line extensions, which will allow us to further integrate our process into our customers chain of production, making us ever more valuable to their operations while maintaining our leadership position in the industry," said Brad Edson, President and CEO of NutraCea.
About NutraCea
NutraCea is a world leader in stabilized rice bran technology. Through its wholly owned subsidiary RiceX, the Company manufacturers as well as distributes products and food ingredients made from rice bran through its proprietary technology and processes. The Company has developed intellectual property to create a range of proprietary product formulations, delivery systems and whole food nutrition products. NutraCea's proprietary technology enables the creation of food and nutrition products from rice bran, normally a wasted by-product of standard rice processing. In addition to its whole foods products, NutraCea develops families of health promoting "nutraceuticals," including natural arthritic relief and cholesterol-lowering products. More information can be found in the Company's filings with the SEC and you can visit the NutraCea web site: http://www.NutraCea.com .
Forward-Looking Statement
This release contains forward-looking statements. Actual results may differ from those projected due to a number of risks and uncertainties, including, but not limited to the possibility that some or all of the pending matters considered by the Company may not proceed as contemplated and the matters specified in the Company's filings with the Securities and Exchange Commission. These statements are made based upon current expectations that are subject to risk and uncertainty. The Company does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information. Assumptions and other information that could cause results to differ from those set forth in the forward-looking information can be found in the Company's filings with the Securities and Exchange Commission, including the company's most recent periodic report.
Company Contact: Investor Relations Contact:
Margie Adelman Stephen D. Axelrod, CFA
Senior V.P. NutraCea Wolfe Axelrod Weinberger Assoc, LLC
916-933-7000 Ext. 646 212-370-4500
916-220-3500 cell steve@wolfeaxelrod.com
madelman@nutracea.com
Media Relations Contact:
Alisa D. Steinberg
Wolfe Axelrod Weinberger Assoc, LLC
212-370-4500
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Source: NutraCea
ICPR - ICP Solar Technologies Announces New Coleman(R) Solar Charger Program at Wal-Mart Stores
Wednesday May 16, 2:53 am ET
New Launch Provides Lowest Cost-Per-Watt Off-Grid Solar Chargers Available
MONTREAL, May 16 /CNW/ - ICP Solar Technologies Inc. (OTCBB: ICPR and FRANKFURT: K1U.F) today announced that it completed the fulfillment of a first order from Wal-Mart's (WMART) Canadian division, of the 2007 Coleman Solar Charger programme.
The new range of latest generation thin-film solar panels has recently begun to hit the store shelves at nearly 300 Wal-Mart Canada stores, in concert with Wal-Mart's corporate objective to increase its involvement in "green" technologies. Its panels are up to 50% more efficient than competitively branded thin-film amorphous solar chargers on similar "mass merchant" retail shelves in Canada.
Sass Peress commented, "The delivery of this new programme places Wal-Mart ahead of any other solar panel retailer in Canada and permits us a testing ground for an eventual similar program across Wal-Mart's international divisions. The partnership between the Coleman(R) and Wal-Mart brands is longstanding, and ICP Solar is proud to have developed this latest technology programme for its stores. We are already seeing increased sell-through at the retail level and anticipate significant year-on-year growth through this distribution partner."
About ICP Solar Technologies Inc.
ICP Solar is a developer, manufacturer and marketer of solar cells and solar cell based products and building materials. Through the application of next-generation technologies and use of proprietary intellectual design, the Company aims to be the industry's innovation leader. For the past 18 years, ICP Solar has led the consumer market through innovation and has now begun to apply that same philosophy to the OEM, rooftop and power generation segments of the solar industry.
ICP Solar's management has over 50 years of experience in the solar energy sector. The company has its headquarters located in Montreal, Canada, and additional locations in the United Kingdom, Spain, USA, Ireland and France. Corporate information may be found at www.icpsolar.com
ICP Solar products can be found worldwide in retail stores such as Wal-Mart, Costco, Conrad Electronics (Germany), LeRoy Merlin (France), and Dick Smith Electronics (Australia). Its current focus in Europe is developing rooftop solutions and working to develop OEM solutions for automotive markets, working with auto manufacturer Volkswagen.
This press release contains 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. The forward-looking statements herein include, but are not limited to, the expected expansion of our solar solutions into Europe Middle East, Asia and Africa. Our actual results may differ materially from those implied in these forward-looking statements as a result of many factors, including, but not limited to, overall industry environment, customer acceptance of our products, delay in the introduction of new products, further approvals of regulatory authorities, adverse court rulings, production and/or quality control problems, the denial, suspension or revocation of permits or licenses by regulatory or governmental authorities, termination or non-renewal of customer contracts, competitive pressures and general economic conditions, and our financial condition. These and other risks and uncertainties are described in more detail in our most recent SB-2 filing with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made. We undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur, except as required by applicable laws, and you are urged to review and consider disclosures that we make in the reports that we file with the Securities and Exchange Commission that discuss other factors germane to our business.
For further information
ICP Solar Technologies Inc. Sass Peress, 514-270-5770 Chairman and CEO speress@icpsolar.com or Leon Assayag, 514-270-5770 Chief Financial Officer lassayag@icpsolar.com
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Source: ICP Solar Technologies Inc.
CRLJ - Core Resources Enter Uranium Mining Business
Wednesday May 16, 6:00 am ET
Core Signs Mineral Rights Deal for Quebec Uranium Property
VANCOUVER, BC--(MARKET WIRE)--May 16, 2007 -- Core Resources (Other OTC:CRLJ.PK - News) announced today that it has reached a preliminary agreement to acquire the rights to mine Uranium in the Pontiac region in Quebec, Canada. The terms of the agreement are not available at this time pending customary due diligence on the property. It is projected by management that the transaction should be consummated in less that 30 days and initial testing can begin in June 2007. The management team has been actively seeking opportunities in this industry and has reached an agreement to acquire certain mineral rights for the mining of Uranium in the Quebec province of Canada. Additional properties are currently under consideration and industry experts are being consulted to determine the most attractive strategy to employ for maximum shareholder return.
Since 2003 the price of Uranium has increased approximately ten fold and government estimates indicate that Uranium demand will continue to be strong as independence from fossil fuels becomes government policy. The company's previous strategy of acquiring operating business in the alternative fuels sector is still active. Compelling opportunities in the Uranium markets, in the view of the Core Resources management team, provide the best opportunity to build a viable company for the CRLJ shareholders.
THE URANIUM INDUSTRY
The only significant commercial use for Uranium is to fuel nuclear power plants for the generation of electricity. Uranium is an element found in nature that is used for emission free energy source throughout the world. When an Uranium atom is split (fission) it releases 50 times more energy than the combustion of one carbon atom. Nuclear fission produces far more energy than burning a comparable volume of hydrocarbon fuel such as oil, natural gas or coal. Currently, the leading countries for the production of Uranium are Australia (28% of global supply), Kazakhastan (16%) and Canada (12%).
Price of Uranium
The price of uranium was approximately $10.75 per pound in early 2003. By early 2007 the price approached $100.00 per pound. Many commodities experts are projecting long term prices as high as $500 per pound.
Nuclear Power Plants
There are 440 nuclear power reactors operating worldwide providing about 16% of the world electricity. There are 82 new reactors that are under construction or planned for completion within the next 10 years. There are currently 104 operating US nuclear power plants that produce over 20 percent of US electricity.
Primary production
The uranium production industry is international in scope with a small number of companies operating in relatively few countries. In 2005 eight producers provided approximately 80% of the estimated world production of 108 million pounds U3O8. Leading companies include Cameco, Cogma, Energy Resources of Australia, WMC Resources Ltd, Kaz AtomProm, Priarggunsky Uranium Ltd, and Navoi Mining Mettallurgical Kombinant.
Cautionary Statement Regarding Forward-Looking Information:
Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "potential," "estimate," "plan," "expect," "project," "intend," "believe," "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.
Contact:
Investor Contact:
Patrick Rost
PMR and Associates, LLC
760-703-6753
PMRandCo@aol.com
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Source: CORE Resources Limited
HMSG - Homeland Security Group to Market Water Purification System to US Military
Wednesday May 16, 6:00 am ET
SAN DIEGO, CA--(MARKET WIRE)--May 16, 2007 -- Colonel Jeffrey A. Powers, CEO of Homeland Security Group International, Inc. (Other OTC:HMSG.PK - News), announced today that the company has received a letter of intent from a major Water Purification systems manufacturer to act as a contract sales and marketing agent of a revolutionary new water purification system to the US Military and Emergency Management Agencies nationwide.
"The system we are introducing has applications for Industrial, Agricultural, Military, Municipal, Governmental, Residential and Disaster Relief," commented Colonel Powers. "Our water purification system provides comprehensive solutions for every market. More efficient than other systems and less expensive to acquire, install and operate, this system is clearly the ultimate filtration solution. Whether the need is removing bacteria or toxins, cleaning Gray Water, addressing a natural disaster or, supplying field troops or a remote village with safe drinking water, we are confident this filtration system is the only all-in-one solution that can respond immediately with delivered results."
The company listed specific reasons for excitement over the new purification system:
-- Equipped with a patented advanced membrane filtration design, the
system is capable of filtering out 100% of all known pollutants, bacteria,
toxins and viruses
-- Controlled and operated by on-board computers and monitored for system
functions, integrity and maintenance providing the user with higher
efficiency and peace of mind
-- Performs advanced Five-stage filtration process
-- Advanced technology retains up to 99% of all water filtered
-- Flow rate of 100 gallons/minute
-- Designed connectivity allows for multiple units to be linked together
to deliver higher flow rates where necessary
-- Protected and encased within a 3/4 inch polymer shield. Durable, safe
and tamper proof
-- Advanced technology provides extended filter life and removal of 98%
of all particulates from turbid side of filters
-- Measuring a mere 4' x 4' x 6' (about the size of an office desk).
Compact, portable and requires far less square footage than alternative
systems
-- Efficient, requiring far less energy than Reverse Osmosis systems
-- All-in-one, turn-key design provides for easy installation
Homeland Security Group International will immediately begin marketing the system to the US Military, State and Local Emergency Management Agencies and Disaster Response units Nationwide. The company also plans to showcase the operation of their new system while taking part in Operation Freedoms Ring -- the civil cyber-social "Shadow Op" to Operation Golden Phoenix -- July 16-25. "Operation Freedoms Ring" is a combined disaster response demonstration.
About Homeland Security Group International
Homeland Security Group International (Other OTC:HMSG.PK - News) is a technology-based corporation based in north county San Diego. HMSG's mission is the development and commercialization of technology focused on providing increased security for both civilian and military personnel throughout the world. Under the leadership of Colonel Jeffrey A. Powers, USMC (Retired), HMSG has assembled a portfolio of technology and services through alliances with established defense-related companies and through internal development that is being brought to market in a cost-efficient and timely manner. The Company also has an alliance with Recon Mountaineer, LLC (an Oceanside, Calif.-based designer and manufacturer of military combat gear for the United States Armed Forces). The company has partnered with leading security firms to design and market surveillance systems for homeland defense security applications.
This press release contains forward-looking statements pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements include risks and uncertainties that may cause the company's plans to change and are in no way intended to guarantee that the company will be successful in executing its plans. HMSG's common stock currently trades on the over-the-counter "Pink Sheets" under the symbol "HMSG." This press release in no way constitutes any recommendation regarding the securities of HMSG or its affiliates. Any person reading this press release is advised that this release should be considered in light of all facts and circumstances regarding the business and financial condition and prospects of HMSG, and no inference is made that this release contains all such information.
Contact:
Homeland Security Group International
Colonel Jeffrey A. Powers
858-457-9999
Email Contact
http://www.HSTINC.us
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Source: Homeland Security Group International
SYTE - Sitestar Reports First Quarter Earnings
Wednesday May 16, 6:00 am ET
Net Income, Acquisitions & Sustained Share Price Underscore Strong Start to 2007
LYNCHBURG, VA--(MARKET WIRE)--May 16, 2007 -- Sitestar Corporation (OTC BB:SYTE.OB - News), a provider of Internet access and value-added online and computer services, announced today that it continued its trend of consecutive profitable quarters, notching its eleventh quarter with strong increases in net income and EBITDA (earnings before interest, taxes, depreciation and amortization). The Company also significantly reduced its interest expense by retiring its high interest note payables. Additionally, through its first quarter acquisitions of Magnolia Internet Services and OneWest.net, Sitestar considerably increased its customer base across narrowband, broadband and web hosting services. Financial highlights for the quarter include:
-- EBITDA was $649,882, an increase of $162,971 or 33.5% from $486,911
for the same period in 2006.
-- Net Income was $308,568, an increase of $120,886 or 64.4% from
$187,682 for the same period in 2006.
-- Interest Expense was $35,469, a decrease of $25,500 or 41.8% from
$60,969 for the same period in 2006.
"2007 is a pivotal year for Sitestar and we have started aggressively," said Frank R. Erhartic, Jr., CEO for Sitestar. "We successfully consummated two acquisitions which will have a positive impact upon our revenue stream. We also garnered attention from the investor community with interviews featured in widely-read investor publications and have effectively sustained a share price over eleven cents. Given our momentum, acquisition pipeline and pending launch of VoIP, we are optimistic about our potential for growth throughout this year."
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements that are based on management's expectations, estimates, projections and assumptions. The Company assumes no obligation except as required by law to update the forward-looking statements contained in this press release as a result of new information or future events or developments. These forward-looking statements generally can be identified by words such as "believes," "expects," "projects," "anticipates," "foresees," "forecasts," "estimates," "should" or other words or phrases of similar import. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors, including and without limitation, as found in the Company's reports filed with the Securities and Exchange Commission.
About Sitestar
Sitestar (www.sitestar.com) is an Internet and computer solutions provider that offers narrowband and broadband Internet access services, Web hosting and design, and other value-added services including web acceleration, spam and virus filtering as well as spyware protection. Headquartered in Lynchburg, Virginia, Sitestar maintains multiple sites of operation and provides services to customers throughout the U.S. and Canada, with concentrations in customers in the Mid-Atlantic and Rocky Mountain regions in the U.S. and in Ontario, Canada. With a focus on competitive pricing, reliability, service and speed, Sitestar delivers customer value.
Contact:
Contact:
Frank R. Erhartic, Jr.
434-239-4272
Email Contact
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Source: Sitestar Corporation
MGIC - Leading Car Rental Firm Signs Agreement With Magic Software for the Development of its Operational Systems Using Magic's Service-Oriented Technology
Wednesday May 16, 6:24 am ET
Agreement Valued up to $750,000
OR YEHUDA, Israel, May 16 /PRNewswire-FirstCall/ -- Magic Software Enterprises (NASDAQ: MGIC - News), a leader in enterprise application development, deployment and integration technology, and Shlomo Sixt Car Rental Ltd., one of Israel's leading vehicle rental firms, have signed an agreement for the development of operational IT systems for the Shlomo Group. The development will be carried out using Magic Software's eDeveloper(TM) application development platform.
Pursuant to the contract, Magic Software will develop the operational systems for Shlomo Sixt Car Rental as a system with a service-oriented architecture (SOA). Once completed, Shlomo Sixt will benefit from a unified, centralized system that responds to the company's diverse business activities including vehicle rental, operations, transportation, maintenance and contracts.
The value of the agreement is estimated at up to US$750,000 which will be recognized over a three-year period.
eDeveloper is a metadata driven development and deployment platform for the implementation of complex business critical solutions and adheres to SOA principles. eDeveloper allows companies to protect their legacy IT investments by using existing business processes. This enables rapid adaptation and customization of distributed, complex and large-scale business applications.
"Magic's eDeveloper proved its value to us over the years in the development of some of our key systems," said Asi Shmeltzer, CEO of Shlomo Sixt. "The platform's capabilities and strengths enable us to rapidly adapt our IT systems to meet our frequently changing business needs."
Udi Ertel, CEO of Magic Israel Ltd., Magic Software's Israeli subsidiary, commented, "Shlomo Sixt Car Rental is capitalizing on the business advantages that an IT system powered by Magic's eDeveloper can provide them. The major agreement we've reached with Shlomo Sixt reflects their confidence in Magic Software's technology."
About Shlomo Sixt Car Rental
Shlomo Sixt is Israel's oldest and leading vehicle rental firm. Shlomo Sixt provides vehicle rental services both in Israel and abroad. With 10,000 vehicles in its fleet, the company's clients include companies in the public and private sectors. Shlomo Sixt has branches throughout the country, as well as in New York and Paris. Shlomo Sixt is part of Shlomo Group, a leading holding company which comprises Israel's largest vehicle and car service group with a combined fleet of more than 50,000 vehicles.
About Magic Software Enterprises
Magic Software Enterprises (NASDAQ: MGIC - News) has been a leader in enterprise application development, deployment and integration technology for more than two decades. Magic Software is a subsidiary of Formula Systems Ltd., a company effectively controlled by Emblaze Ltd. The company's service-oriented platform is used by companies worldwide to develop, maintain, and deploy both legacy and new business solutions, while integrating these applications across both internal and external, heterogeneous environments. Magic Software's platform-independent methodology lets companies achieve agility by quickly assembling composite applications, allowing programmers to create services and architects and business analysts to orchestrate and reuse these services to enable business processes. Through partnerships with industry leaders such as IBM and SAP and more than 2500 ISVs worldwide, Magic Software technology is used by more than 1.5 million customers around the globe.
For more information on Magic Software Enterprises and its products and services, visit www.magicsoftware.com.
Except for the historical information contained herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based upon a number of factors including, but not limited to, risks in product and technology development, market acceptance of new products and continuing product conditions, both here and abroad, release and sales of new products by strategic resellers and customers, and other risk factors detailed in the Company's most recent annual report and other filings with the Securities and Exchange Commission.
Press contacts:
Steven L. Lubetkin
Public Relations Counsel
Magic Software Enterprises Ltd.
slubetkin@magicsoftware.com
Phone: +1-856-751-5491
Cell: +1-856-625-5502
Mary Lou Roberts
Magic Software Corporate Communications
Phone: +1-215-740-8976
mlroberts@magicsoftware.com
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Source: Magic Software Enterprises Ltd
FCTOA - FACT Corporation Delivers Strong First Quarter Revenue Growth -- New Sales Initiatives Now Active
Wednesday May 16, 7:00 am ET
NEPTUNE, NJ--(MARKET WIRE)--May 16, 2007 -- FACT Corporation (OTC BB:FCTOA.OB - News), a specialty nutrition solutions provider to the North American baked-goods industry, today announced its operating results for the three months ended March 31, 2007. Core-business operating revenue for the quarter totalled $828,611 -- up more than 200% over comparable year-ago results. The net operating loss for the period totalled $145,979 with a loss per share of $0.01.
The Company expects to see continuing top-line revenue growth throughout fiscal 2007 as it implements accelerated product expansion initiatives, and is expecting to reduce associated operational costs as efficiencies improve, with a sequential goal of possibly achieving its first profitable year of operations.
"We are pleased to see that our financial outlook continues to improve," said CEO Jacqueline Danforth. "With top-line revenue reflecting growth of over 200% in each of our last two quarters compared to results from the comparable prior years' periods, I believe that we've established a new, higher revenue base on which to build. We are poised for significant growth for the balance of 2007 as we initiate further product expansion and category diversification."
About FACT Corporation
Operating through our wholly owned subsidiary, Food & Culinary Technology Group Inc., we develop and market customized nutrition solutions created specifically for the North American baked-goods industry. We are a functional content provider. Our core products are proprietary specialty bake mixes, which we sell to commercial producers who use our mixes in large quantities to manufacture popular, health-friendly packaged baked goods. These items target a rapidly growing, increasingly sophisticated consumer marketplace focused on quality, taste and nutrition.
Our customers market their finished products (foods we all love to eat, such as bagels, brownies, muffins and cookies) through both conventional and alternative distribution channels, including branded and private-label retail opportunities, as well as foodservice and specialty markets.
For more information about FACT and its products, industry trends and functional foods, please visit www.factfoods.com.
Contact:
Contact:
FACT Corporation
Jacqueline Danforth
(888) 211-7181, ext 8004
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Source: FACT Corporation
UDTT - Universal Detection Addresses Recent Report on the Creation of a CBRN Response Coordinator in the United Kingdom
Wednesday May 16, 7:05 am ET
UDTT Sold Anthrax Detection Devices to the U.K. in 2006
LOS ANGELES, CA--(MARKET WIRE)--May 16, 2007 -- Universal Detection Technology (www.udetection.com) (OTC BB:UDTT.OB - News), a developer of early-warning monitoring technologies to protect people from bioterrorism and a provider of counter terrorism training and solutions today addressed the recent announcement by the United Kingdom Association of Chief Police Officers (ACPO) on the creation of a national coordinator for chemical, biological, radiological and nuclear (CBRN) Response. The CBRN response co-coordinator will be responsible for over 50 agencies in the U.K. that will potentially have a role in the case of a CBRN attack.
"One major area of responsibility for the new CBRN coordinator will be protection for the House of Parliament in London, and the two BSM-2000 units sold by us were designated to protect the House of Parliament," said Jacques Tizabi, CEO of Universal Detection Technology. "We hope that the new CBRN coordinator will recognize the immense potential of our technology in protecting key facilities," he added.
BSM-2000 is UDTT's line of real-time bacterial spore detectors co-developed by NASA's Jet Propulsion Laboratory (JPL). The device is used to monitor the air continuously and to sound an alarm if elevated levels of spores such as anthrax are detected. UDTT holds an international exclusive license to the detection technology deployed in BSM-2000. The Company recently sold two units of BSM-2000 to the government of the UK.
Universal Detection Technology has co-developed a real-time Anthrax detection system, called BSM-2000, with NASA's Jet Propulsion Laboratory. The technology was recently featured on NBC News. To view the video clip, please go to: http://www.udetection.com/pressroom-video-NBC1006.htm.
For more information, please visit www.udetection.com or email us at info@udetection.com.
About the United Kingdom Association of Chief Police Officers
The Association of Chief Police Officers is an independent, professionally led strategic body. In the public interest and, in equal and active partnership with Government and the Association of Police Authorities, ACPO leads and coordinates the direction and development of the police service in England, Wales and Northern Ireland. In times of national need ACPO -- on behalf of all chief officers -- coordinates the strategic policing response.
About Universal Detection Technology
Universal Detection Technology is a developer of monitoring technologies, including bioterrorism detection devices. The Company on its own and with development partners is positioned to capitalize on opportunities related to Homeland Security. For example, the Company, in cooperation with NASA, has developed a bioterror 'smoke' detector that detects certain biohazard substances. For more information, please visit http://www.udetection.com.
Forward-Looking Statements
Except for historical information contained herein, the statements in this news release are forward-looking statements that involve known and unknown risks and uncertainties, which may cause the Company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Contact:
Contact:
Jacques Tizabi
310-248-3655
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Source: Universal Detection Technology
GSIEF - GSI Securitization Executes a Revenue Generating Strategic Alliance With MediCredit, Inc.
Wednesday May 16, 7:13 am ET
PRINCETON, N.J.; May 16 /PRNewswire-FirstCall/ -- GSI Securitization Ltd. (Pink Sheets: GSIEF.pk - News) and MediCredit, Inc. are pleased to announce today that we have established a marketing, sales and funding strategic alliance whereby MediCredit will run separately, but will have certain common responsibilities, defined duties, and have a profit sharing arrangement. GSI will be responsible for the financing function. All protocols for collection will be jointly set-up to satisfy all accounting and reporting mechanisms to jointly develop risk factors prior to funding.
GSI Securitization Executes a Strategic Alliance with MediCredit, Inc. to finance commercial health insurance, worker's compensation, No-fault/PIP, Medicare, Champus and company and union sponsored benefit plans. This represents a new phase and expansion of GSI's business in the healthcare asset-backed receivable market for clinics, diagnostic testing facilities, laboratories, private and group physician practices, home healthcare agencies, substance abuse clinics, rehabilitation facilities and hospitals.
MediCredit, Inc. will continue to establish a purchase line for insurance receivables and GSI will fund these sales. Reports will provide incisive information for controlling and security of profit centers. GSI will work with revenue management experts from MediCredit and the GSI Group collectively for accounting and funding analysis.
GSI will work with MediCredit clients and new business development to facilitate the sale of current, non-current insurance receivables for cash at discounted rates that will cover cost of money, operations, reporting and profit. In addition, together we will work to explore a plan for patient financing.
The products available as "the Capital Choice" under GSI and MediCredit alliance will expand the profitability of GSI by added-value to the market.
FORWARD-LOOKING STATEMENTS: Statements released by GSI Securitization, Inc. that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
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Source: GSI Securitization, Inc.; MediCredit, Inc.
DSGX - Descartes Launches Ocean Shipment Management Suite
Wednesday May 16, 7:30 am ET
WATERLOO, ONTARIO--(MARKET WIRE)--May 16, 2007 -- Descartes Systems Group (Toronto:DSG.TO - News)(NasdaqGM:DSGX - News), a global on-demand software-as-a-service (SaaS) logistics solutions provider, announced the latest release of its Descartes Ocean Shipment Management Suite. This release integrates Descartes' Rate Builder solution with customs compliance services, a central database for global rate and shipment information, and Descartes Global Logistics Network (GLN) messaging capabilities to deliver an end-to-end solution for managing ocean shipments.
The Descartes Ocean Shipment Management Suite provides extensive services for the end-to-end book-to-bill process including quoting, booking, freight audit, customs compliance and status messaging, data management services, document workflow and carrier connectivity, as well as track and trace. The following modules are included in the Suite and can be deployed one at a time, or as an integrated solution:
- Descartes Rate Builder Core: Includes rate retrieval, analysis and bottom line rate calculation, rate quoting and data management -the core functions that drive the shipment management solution.
- Quote Management Workflow: Manages the internal workflow between pricing and sales departments at ocean carriers to manage Rate Requests, Service Contracts or NVOCC Service Arrangements and Amendment requests. Transactions are managed from initial request through to customer quote and acceptance, and the status of work items is tracked and managed. By assigning an electronic status to rate requests, reports can be run and used to establish key performance indicators (KPI) around the rate acquisition and procurement process, including estimating profitability by lane and contract.
- Mass Update: Rates and contracts can be quickly and easily updated from a single screen. It can also be used to manage the GRI General Rate Increase, Decrease and Extension processes.
- Data Management Services (DMS): Descartes offers a highly skilled workforce that provides flexible outsourced services for data entry and maintenance of rates and contracts. By leveraging a team that has been helping customers manage their data for over 18 years, Descartes clients can concentrate on their core business and effectively integrate effective shipping management into their processes.
- Booking Workflow: Once ocean carrier cost and service comparisons have been completed, this module can be used to make electronic shipment bookings. Users can execute bookings directly with the carrier, and send a copy of the EDI or XML message into their back office system for even greater control. The module generates several messages associated with the booking process, including the booking message, a message receipt confirmation and booking confirmation message from the carrier.
- Freight Audit: Automates the auditing of ocean bills of lading. Since bills of lading are received electronically over the Descartes GLN, the amounts billed from each carrier can be audited against contracts, enabling users to identify overcharges and undercharges.
- Messaging Services: Users are connected to the GLN, which enables the delivery of shipment status messages from ocean carriers and increases visibility into inbound shipments. Customers can quickly take advantage of the GLN's extensive base of connected carriers to begin the flow of statuses and ocean related transactions.
- Import2000 / Customs Compliance Services: While Import2000 is used to create automated manifest system (AMS) filings for ocean shipments, users can also create shipping instructions to ocean carriers for import shipments and receive customs status updates and alerts.
- Export2000 / Customs Compliance Services: Export2000 enables users to file Shipper's Export Declaration (SED) information to US Customs, screen for whether shipments include any Denied Parties and create shipping instructions for transmission to ocean carriers for export shipments.
"Customers that select our Ocean Shipment Management Suite have the advantage of working with a single technology partner that has integrated extensive experience in ocean transportation and regulatory requirements into an end-to-end solution for managing the shipment process," said Cindy Yamamoto, Vice President, Global Logistics Network Solutions at Descartes.
About Descartes
Descartes (Toronto:DSG.TO - News)(NasdaqGM:DSGX - News), a leading provider of software-as-a-service (SaaS) logistics solutions, is delivering results across the globe today for organizations that operate logistics-intensive businesses. Descartes' logistics management solutions combine a multi-modal network, the Descartes Global Logistics Network, with component-based 'nano' sized applications to provide messaging services between logistics trading partners, "book-to-bill" services for contract carriers and private fleet management services for organizations of all sizes. These solutions and services help Descartes' customers reduce administrative costs, billing cycles, fleet size, contract carrier costs, and mileage driven and improve pick up and delivery reliability. Our hosted, transactional and packaged solutions deliver repeatable, measurable results and fast time-to-value. Descartes customers include an estimated 1,600 ground carriers and more than 90 airlines, 30 ocean carriers, 900 freight forwarders and third-party providers of logistics services, and hundreds of manufacturers, retailers, distributors, private fleet owners and regulatory agencies. The company has over 300 employees and is based in Waterloo, Ontario, with operations in Atlanta, Pittsburgh, Ottawa, Washington DC, Derby, Stockholm, Shanghai, Singapore and Melbourne. For more information, visit www.descartes.com.
This release contains forward-looking information within the meaning of applicable securities laws ("forward-looking statements") that relate to Descartes' solution offering and potential benefits derived therefrom; and other matters. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the factors and assumptions discussed in the section entitled, "Certain Factors That May Affect Future Results" in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.
Contact:
Contacts:
Descartes Systems Group
Nicole German
Media Contact
(416) 741-2838 ext. 298
Email: ngerman@descartes.com
Website: http://www.descartes.com
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Source: The Descartes Systems Group Inc.
VBTC - VuBotics Provides Business Update and Reports First Quarter Results
Wednesday May 16, 7:30 am ET
Accelerates Market Penetration Through Leading Distributors, Mobile Content Developers and Commercial Partners
ATLANTA, May 16, 2007 (PRIME NEWSWIRE) -- VuBotics, Inc. (OTC BB:VBTC.OB - News), developer of VuIT(tm), the global leader in small screen reading technology, today announced financial results for the first quarter ended March 31, 2007
John Ellingson, president of VuBotics, stated, ``We are pleased to report that 2007 is off to a very strong start at VuBotics. Since the beginning of the year, we have signed agreements with Handmark(r), a major distributor of mobile content; Duane Morris, one of the top 100 law firms in the country; and MagneticTime, one of the leading content developers, to couple our VuIT software with their state-of-the-art text-to-speech technology. Our transition into the commercialization phase began less than a year ago, but we have already established important alliances and partnerships that will benefit the company well into the future.''
``Building upon our acceptance into the Blackberry ISV Alliance Program last year, we partnered with Handmark (http://www.handmark.com), a leading Internet distributor of mobile content solutions for various mobile devices such as Blackberry, Treo and Windows Mobile wireless handhelds. As a result of this partnership, VulT(tm) is being offered through Handmark's website, which is accessed by consumers and businesses seeking to add capabilities to their mobile devices. We look forward to leveraging Handmark's strong relationships with the leading Tier I carriers, where our goal is to offer VuIT(tm) as a standard offering within the carrier decks. We also hope to penetrate Handmark's retail distribution channels, where Handmark commands an estimated 43 percent market share of all mobile software titles sold through retail channels.''
Mr. Ellingson continued, ``We have also have entered the second stage of a pilot test with Duane Morris, one of the top 100 law firms in the country, where we are confident that in a very short time, users will appreciate the value of having text delivered word-by-word in a personalized way utilizing our proprietary algorithm. We see this recent pilot program as a major validation of our software for law firms and other companies around the country that have a clear need to maximize the efficiency of their professional staff.''
``We are excited to partner with MagneticTime in developing a software that combines speech technology software with VuBotics' VuIT(tm) advanced reading technology. MagneticTime's iAudioize software for iPods, PCs, PDAs and cellphones, enables users to listen to emails and documents in MP3 format. By combining iAudioize and VuIT(tm), we are developing a robust software solution that dramatically enhances the usabilty and functionality of portable media devices.''
David Rollo, chief marketing officer at VuBotics, commented, ``It's rewarding to see the progress we are making in securing interest in our technology. These most recent agreements and partnerships are important steps in broadening the distribution of our technology and are indicative of the scope of our target markets, which include commercial businesses, distributors and government entities, among others. We have been in discussions with a number of prospective customers and potential licensees and continue to educate and inform the public on the benefits of our technology.''
Total revenue for the three months ended March 31, 2007 was $24,000, compared to $0 for the same period in 2006. Revenue for the first quarter of 2007 reflects a follow-on pilot project with a major media content provider. Operating loss for the three months ended March 31, 2007 was $495,914, compared to operating loss of $216,077 million for the same period last year. Net loss for the three months ended March 31, 2007 was $498,080, or $0.01 per share, compared to net loss of $250,627 or $0.01 per share, for the same period in 2006. The increase in net loss is primarily the result of an increase in product development and marketing expenses.
About VuBotics
VuBotics, Inc. is an emerging technology provider dedicated to improving the reading experience. Today, VuBotics has several patent pending software applications, including VuIT(tm) Online Reader and VuIT(tm) Mobile, which are designed for content providers and aggregators worldwide. The VuIT(tm) product family uses an advanced proprietary algorithm that dynamically delivers text sequentially onto a viewing screen, word-by-word, rather than as static text across a screen. Other VuBotics products under development include online experience metrics, and relational search and intelligent agent technologies. Based in Atlanta, Georgia, VuBotics' strategy is to take advantage of the growing market for digital content through business relationships with global media and technology companies. For more information, visit: http://www.vubotics.com.
The VuBotics, Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2771
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of VuBotics officials 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 VuBotics actions, 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 VuBotics has no specific intention to update these statements.
VUBOTICS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
MARCH 31, 2007 (Unaudited)
ASSETS
Current Assets
Cash $ 64,893
Accounts receivable 24,000
Deposits 1,297
------------
Total current assets 90,190
Other Assets
Fixed assets, net of accumulated depreciation
of $5,102 27,919
Intangible assets 102,529
Impairment reserve (102,529)
------------
Total Assets $ 118,109
============
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities
Accounts payable and accrued expenses $ 638,063
Accrued payroll 47,433
Accrued interest 5,416
Bridge loan 75,000
Notes payable - current portion 400,000
Due to related party 66,485
------------
Total current liabilities 1,232,397
Notes payable - long term 588,655
------------
Total liabilities 1,821,052
Stockholders' (Deficit)
Common stock, $0.001 par value, 100,000,000 shares
authorized, 52,228,718 shares issued and
outstanding 52,229
Preferred stock, $0.001 par value, 25,000,000
shares authorized, no shares issued and outstanding --
Additional paid-in capital 12,907,747
Accumulated deficit (14,662,919)
------------
(1,702,943)
------------
Total Liabilities and Stockholders' Deficit $ 118,109
============
VUBOTICS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS ENDED MARCH 31, 2007 AND 2006
(Unaudited)
2007 2006
------------ ------------
Revenue $ 24,000 $ --
Product development 258,364 49,600
Sales and marketing 96,646 36,715
General and administrative 164,904 129,762
------------ ------------
519,914 216,077
Loss from operations (495,914) (216,077)
Interest expense (3,811) (34,550)
Interest income 1,645 --
------------ ------------
2166 (34,550)
------------ ------------
Net loss $ (498,080) $ (250,627)
============ ============
Net loss per common share - basic
and fully diluted $ (0.01) $ (0.01)
Weighted average number of
common shares outstanding 50,342,541 36,282,469
============ ============
VUBOTICS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE THREE MONTHS ENDED MARCH 31, 2007 AND 2006
(Unaudited)
2007 2006
------------ ------------
Cash Flows From Operating Activities
Net loss $ (498,080) $ (250,627)
Adjustments:
Issuance of common stock for services 720,900 140,150
Depreciation 1,701 --
Changes in:
Accounts receivable (24,000) --
Accounts payable and accrued expenses (577,371) (47,565)
Accrued payroll (19,581) --
Accrued interest (626) 34,550
------------ ------------
Net cash used in operating activities (397,057) (123,492)
------------ ------------
Cash Flows From Investing Activities
Purchase of fixed assets (808) --
Cash Flows From Financing Activities
Proceeds from issuance of common
stock -- 124,188
Proceeds from bridge loan 75,000 --
Repayments of notes payable (113,689) --
Loans repayments (12,500) --
------------ ------------
Net cash (used) provided by financing
activities (51,189) 124,188
------------ ------------
Net (decrease) increase in cash (449,054) 696
Cash - beginning of period 513,947 183
------------ ------------
Cash - end of period 64,893 879
============ ============
Supplemental disclosures of cash flow
information
Cash paid for interest $ 17,589 $ --
Contact:
Crescendo Communications, LLC
David K. Waldman/Klea K. Theoharis
(212) 671-1020
--------------------------------------------------------------------------------
Source: VuBotics, Inc.
VFIN - vFinance, Inc. Reports Profit and Record Revenues for First Quarter 2007
Wednesday May 16, 7:30 am ET
Company Earns Profit, Continues to Improve Liquidity and Cash Flow, and Presents Strong Balance Sheet, no Debt and Strong Diversified Income Stream
BOCA RATON, FL--(MARKET WIRE)--May 16, 2007 -- vFinance, Inc. (OTC BB:VFIN.OB - News) ("VFIN"), a global financial services company specializing in growth opportunities, today reported record revenues for the first quarter ended March 31, 2007.
Revenues for the first quarter 2007 rose to $12,019,200, compared to $9,007,600 for the first quarter of 2006, representing an increase of $3,011,600 or 33%. Net income for the first quarter 2007 was $37,800 or $0.00 per fully diluted share, compared to net income of $411,600 or $0.01 per fully diluted share for the first quarter of 2006. The first quarter 2007 net income results included depreciation of $111,400, amortization of intangibles of $207,000 and stock based compensation expense of $113,000 compared to depreciation of $85,300, amortization of intangibles of $36,700 and stock based compensation expense of $113,100 in the first quarter of 2006.
Adjusted EBITDA, defined as net income before interest, taxes, depreciation, amortization and stock based compensation was $472,900 for the quarter ended March 31, 2007 compared to $631,600 for the same period last year. (See table and footnote for Adjusted EBITDA at the end of this release).
VFIN's liquid assets of $7,432,400 as of March 31, 2007, comprised of cash and cash equivalents of $5,248,400 and marketable securities of $2,184,200, were approximately $1,803,200 higher than VFIN's liquid assets as of December 31, 2006. In addition, the Company's cash flow from operating activities plus proceeds from sales of investments in securities held for sale totaled $1,128,800 in the first quarter of 2007, representing an improvement of $514,200 compared to the first quarter 2006. VFIN has no long-term debt.
"vFinance's performance during the first quarter of 2007 shows that we are implementing the right action plan to achieve our goals," stated Leonard Sokolow, Chairman and CEO, vFinance, Inc. "We have steadily increased our top line by investing in infrastructure, acquisitions and our investment banking, retail and trading businesses. With over 40 offices in the U.S. and other parts of the world and more than 12,000 corporate, institutional and high net worth clients, and our making markets in more than 3,000 stocks, we are poised to seize further growth opportunities."
"Strong revenues, a strong balance sheet and profitability give us the resources to further expand and invest," said Alan Levin, CFO, vFinance, Inc. "Through expense reduction and increased productivity, we will improve cash generation and increase profitability, enabling us to continue to execute our growth strategy."
About vFinance, Inc.
vFinance, Inc. is a global financial services company which specializes in high growth opportunities. The Company's insight into this marketplace flows from three key activities: providing investment banking and advisory services to micro, small and mid-cap high growth companies; making markets in over 3,000 micro and small cap stocks; and offering information services on its website, a leading destination for emerging companies seeking capital and investors seeking opportunities. Due to its focus, the Company is uniquely positioned to offer alternative investments to institutional and high net worth investors seeking to outperform market indices. All investors are also offered a full range of investment options. With over 40 offices in the U.S. and other parts of the world, the Company serves more than 12,000 corporate, institutional and high net worth clients. vFinance Investments, Inc. and EquityStation, Inc., both subsidiaries of vFinance, Inc., are broker-dealers registered with the SEC, and members of NASD and SIPC. For more information about vFinance, Inc., please visit its website at www.vfinance.com.
This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release, which are not strictly historical statements, including, without limitation, statements by management, statements concerning internal operations, marketing, management's plans, objectives and strategies, and management's assessment of market factors and conditions, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements, including, without limitations, the volatility of domestic and international financial, bond and stock markets, intense competition, extensive governmental regulation, litigation, substantial fluctuations in the volume and price level of securities and other risks as detailed in the Company's filings with the Securities and Exchange Commission. vFinance, Inc. assumes no obligation to update any forward-looking information in this press release.
Consulting For Strategic Growth 1, Ltd. ("CFSG1") provides vFinance, Inc. ("the Company") with consulting, business advisory, investor relations, public relations and corporate development services. CFSG1 receives restricted stock as compensation from the Company. CFSG1 may also choose to purchase the company's common stock and thereafter liquidate those securities at any time it deems appropriate to do so.
vFinance, Inc. and Subsidiaries
Unaudited Condensed CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Three Months Ended
March 31,
------------------
2006
(Restated
and
2007 Revised)
--------- ---------
Revenues:
Commissions - agency $ 5,629.2 $ 4,755.4
Trading profits 3,596.3 1,501.0
Success fees 1,598.2 1,636.2
Other brokerage related income 1,152.9 792.4
Consulting fees 18.5 151.4
Other 24.1 171.2
--------- ---------
Total revenues 12,019.2 9,007.6
--------- ---------
Compensation, commissions and benefits 9,662.6 6,784.8
Clearing and transaction costs 1,104.1 937.3
General and administrative costs 656.7 571.5
Occupancy and equipment costs 240.7 203.6
Depreciation and amortization 318.4 122.0
--------- ---------
Total operating costs 11,982.5 8,619.2
--------- ---------
Income from operations 36.7 388.4
--------- ---------
Other income (expenses):
Interest income 14.6 27.3
Interest expense (18.3) (12.2)
Dividend income 3.4 4.1
Other income (expense), net 1.4 4.0
--------- ---------
Total other income (expense) 1.1 23.2
--------- ---------
Income before income taxes 37.8 411.6
Income tax benefit (provision) - -
--------- ---------
Net income $ 37.8 $ 411.6
========= =========
Net income per share: basic $ 0.00 $ 0.01
========= =========
Weighted average number of shares outstanding: basic 54,579.9 40,126.1
========= =========
Net income per share: diluted $ 0.00 $ 0.01
========= =========
Weighted average number of shares outstanding:
diluted 56,125.1 42,231.2
========= =========
See 10Q for notes to unaudited condensed consolidated financial statements.
The following table presents a reconciliation of EBITDA, as adjusted, to
net income as reported.
VFINANCE, INC.
ADJUSTED EBITDA
Three Months Ended
March 31, 2007 March 31, 2006
-------------- --------------
Net Income $ 37,800 $ 411,600
Interest (income) expense, net 3,700 (15,100)
Depreciation 111,400 85,300
Amortization of Intangibles 207,000 36,700
-------------- -------------
Earnings before interest, taxes,
depreciation and amortization (EBITDA) 359,900 518,500
Stock based compensation 113,000 113,100
-------------- -------------
Adjusted EBITDA $ 472,900 $ 631,600
============== =============
Earnings before interest, taxes, depreciation and amortization, or EBITDA, adjusted for gains or losses on sales of assets and non-cash compensation expense, is a key metric the Company uses in evaluating its financial performance. EBITDA is considered a non-GAAP financial measure as defined by Regulation G promulgated by the SEC pursuant to the Securities Act of 1933, as amended. The Company considers EBITDA, as adjusted, an important measure of its ability to generate cash flows to service debt, fund capital expenditures, repurchase shares, and fund other corporate investing and financing activities. EBITDA, as adjusted, eliminates the non-cash effect of tangible asset depreciation and amortization of intangible assets and stock-based compensation. EBITDA should be considered in addition to, rather than as a substitute for, pre-tax income, net income and cash flows from operating activities.
Contact:
CONTACTS:
For vFinance:
Maxine Martell
EVP and Chief Marketing Officer
vFinance, Inc.
Tel: 561-981-1077
Fax: 561-404-4174
Email Contact
http://www.vfinance.com
Investor Relations:
Stanley Wunderlich
CEO
Consulting For Strategic Growth 1, Ltd.
Tel: 800-625-2236
Fax: 212-337-8089
Email Contact
http://www.cfsg1.com
Media Relations:
Daniel Stepanek
EVP, Media
Consulting For Strategic Growth 1, Ltd.
Tel: 212-896-1202
Fax: 212-697-0910
Email Contact
--------------------------------------------------------------------------------
Source: vFinance, Inc.
pmtt - Archonix and Pamet Announce Transaction
May 15, 2007 3:14:00 PM
HUDSON, MA -- (MARKET WIRE) -- 05/15/07 -- Pamet Systems, Inc. ("Pamet") (PINKSHEETS: PMTT) and Archonix Systems LLC today announced the completion of a transaction establishing a strategic partnership between the two organizations. The elements of the partnership include a financial investment in Pamet by Archonix, cross licensing of the two companies' product lines and a management agreement that combines the management talents and resources of the two companies. It is expected that the partnership will strengthen the position both companies already have in their respective markets.
In January 2007, Archonix and Pamet had announced a transaction whereby Archonix would purchase the majority of Pamet's assets. After further review, the parties determined that the strategic partnership would more quickly accomplish the objectives of both parties while still leaving open the future possibility of a combination of assets.
With this transaction, Archonix now manages public safety software for almost 300 Police and Fire Departments and Correctional Institutions in 21 States, making it one of the larger companies devoted to public safety in several states. Commenting on the transaction, Archonix COO Anthony Graham stated, "We are very pleased to have reached agreement with Pamet's Board of Directors on this transaction. The compatibility of the personnel and the opportunity to bring the combined depth of each Company's software to the other will be a great benefit to customers of both companies. This transaction further illustrates our confidence in the opportunity that lies before both Archonix and Pamet in a consolidating industry."
For Pamet, the benefits of the additional capital and other resources will enable it to accelerate its growth trajectory and competitive position in the public safety software market. Kirke Curtis, CEO of Pamet, remarked, "Among other things, this partnership gives us the resources to rapidly accelerate the introduction of several strategic products that bring critically important new capabilities to our clients. In a single stroke our product suite will become more capable and robust than that of competitors many times our size. This is an exciting development for customers, employees and investors alike."
About Archonix: Headquartered in Mt. Laurel, New Jersey, Archonix Systems ("Archonix") is a rapidly growing provider of software products for police, fire, jail and other public safety agencies. Archonix is privately held and has grown to serve 300 public safety customers in 21 states. The Company's public safety offerings include computer-aided-dispatch, records management, and mobile communications software, as well as data sharing for police and fire departments and management software for correctional institutions. For more information, go to www.archonixsystems.com
About Pamet: Incorporated in 1987, Pamet Systems, Inc. is a provider of software, mobile solutions and other technologies for public safety organizations throughout the Eastern United States. The Company's innovative applications help automate the workflow of first responders and other public safety organization personnel. For more information go to www.pamet.com.
Certain statements in this release may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities and Exchange Act of 1934 as amended. Certain, but not necessarily all, of such forward-looking statements can be identified by the use of such words or phrases as "believes," "expects," "may," "will," "should," "is very likely to" or "anticipates," or other variations. The final disposition of the transaction may be materially different from any future results expressed or implied by such forward-looking statements because of factors such as inability to gain shareholder or other stakeholder approval, insufficiency of capital to operate the Company, and/or changes in the marketplace including changes in demand for public safety software.
Contact:
Kirke S. Curtis
Pamet Systems, Inc.
Phone: (978) 568-0045 x1111
Contact:
Anthony S. Graham
Archonix Systems, LLC
Phone: (856) 787-0020
VRDE - Veridien Corporation Reported First Quarter 2007 Sales Up 278% over First Quarter 2006
May 15, 2007 3:03:00 PM
Copyright Business Wire 2007
LARGO, Fla.--(BUSINESS WIRE)--
Veridien Corporation (OTCBB:VRDE) reported First Quarter 2007 Sales of $587,468, an increase of 278% over First Quarter 2006 Sales of $155,123. This sales level represents the highest first quarter sales in the company's history.
The company has just completed the third consecutive sales quarter where in each of those quarters compared to their counterpart in the most recent year, sales showed a substantial increase:
-- Q1/2007 vs Q1/2006 : increase of 278%
-- Q4/2006 vs Q4/2005 : increase of 130%
-- Q3/2006 vs Q3/2005 : increase of 168%
Sheldon Fenton, President & CEO of Veridien said, "We are pleased that our efforts are resulting in sales momentum that is continuing to build."
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995
Forward-looking statements in this press release (identifiable by such words as "believes", "expects", "beginning", "intended", "planned") 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, market acceptance of, and demand for, the Company's products, manufacturing, development and distributor issues, product pricing, competition, funding availability, technological changes and other risks not identified herein. The Company disclaims any intent or obligation to update any forward-looking statements.
About Veridien Corporation
For more information about Veridien Corporation and it investments in future technology, please visit: www.veridien.com and www.mycosol.com.
Source: Veridien Corporation
----------------------------------------------
Veridien Corporation
Largo
Cheryl Ballou
727-576-1600 x202
SKFT - StrikeForce Signs Agreement With a Leading Investment Bank
ProtectID's(TM) Strong Authentication Will Provide Greater Network-Access Control for Employees Globally
May 15, 2007 12:35:00 PM
EDISON, NJ -- (MARKET WIRE) -- 05/15/07 -- StrikeForce Technologies (OTCBB: SKFT), a company that specializes in the prevention of identity theft, today announced that it has signed an agreement with a leading investment bank to deploy StrikeForce's ProtectID two-factor authentication platform solution to strengthen network access security for employees globally and to enhance compliance with Sarbanes Oxley for Business Continuity. "We at StrikeForce are very excited to have been chosen for our strong two-factor authentication solution. This is our first securities firm implementation that will show ProtectID's flexibility and strength with the ability to evolve as new authentication methods are developed," says Mark L. Kay, CEO of StrikeForce Technologies, Inc.
About StrikeForce Technologies
StrikeForce Technologies, a leader in solutions that helps prevent identity theft, is a company that can protect consumers, customers, partners and employees -- in real time against identity fraud. Its total protection solution strengthens companies' defenses against the biggest points of fraud -- when the Internet is accessed, when accounts are opened, when they're accessed, when they're changed, and each time there's a new transaction. StrikeForce Technologies is trading on the OTC bulletin board (SKFT) and the company is headquartered in Edison, N.J., and can be reached at www.strikeforcetech.com or (866) 787-4542.
StrikeForce Technologies' Media Contact:
George Waller
732-661-9641
gwaller@strikeforcetech.com
Market News First
Angela Junell
214-461-3411
ajunell@MN1.com
have to, tried choice trades..they are not registered in my neck of the woods.
TDA's legacy
High Call Volume
We are currently experiencing a high volume of phone calls. We ask for your patience, and are working to resolve this as quickly as possible. Meanwhile, please consider contacting us by e-mail (go to Contact Us, under Client Services).
well imo if they stopped using the greed mongers SBSH
it would cut the calls in half
they suck since the merger with TDwaterhose
had an RJT account once, they merged with TD
same crap
looking for a new broker...!
ATWO - a21 Results Improve Significantly; Revenues Increase 109% Q1 2007 vs. Q1 2006
Bottom Line Improves $1.1 Million From Year Ago Seventh Consecutive Quarter of Revenue Growth
May 15, 2007 10:45:00 AM
Copyright Business Wire 2007
JACKSONVILLE, Fla.--(BUSINESS WIRE)--
a21, Inc. ("a21") (OTCBB:ATWO), a leading online digital content marketplace, today reported its financial results for the first quarter ending March 31, 2007.
Recent highlights include:
-- Net loss improved by $1.1 million for the quarter ended March
31, 2007 compared to the same prior year period and improved
by nearly $3.0 million on a sequential basis compared to the
fourth quarter of 2006.
-- Positive EBITDA achieved.
-- Revenues were up for the seventh consecutive quarter, with
total first quarter revenue increasing 109% compared to the
same prior year quarter, primarily as a result of the
acquisition of ArtSelect.
-- New business development initiatives launched, led by Pixsy
and MyNuMo.
"We are off to a solid start in 2007. Our investments in people, technology, and new markets are yielding improvements to our performance," said John Ferguson, Chief Executive Officer of a21. "With this momentum, we can now more aggressively pursue our growth strategy to capitalize on the many opportunities we see in our marketplace. SuperStock is expanding and strengthening its market presence by teaming with other brands, such as Pixsy and MyNuMo, to increase customer traffic and develop new revenue streams. At ArtSelect, we are launching new direct marketing channels and introducing new collateral products to meet the growing demand for framed art and related offerings online. We now have the team and resources in place to explore and execute new opportunities that we believe will drive future success and growth. We also continue an ongoing review of strategic merger and acquisition prospects that we believe can add value to our company and stockholders."
Tom Costanza, Chief Financial Officer of a21, added, "With the progress we have achieved so far integrating operations and streamlining processes, we were able to generate positive EBITDA in the first quarter. We will continue to pursue opportunities to realize improving operational efficiencies and leverage."
Revenue for the first quarter of 2007 was $6.1 million, up 109% from the same prior year period. Revenues rose as a result of the Company's ArtSelect acquisition, which was completed during May 2006, with the balance attributable to 8% organic growth. Cost of sales for the first quarter of 2007 were $2.3 million, compared to $903,000 for the same prior year period. The increase is due primarily to the Company's ArtSelect acquisition. Selling, general, and administrative expenses increased $858,000 reflecting the net effect of ArtSelect's additional expenses, offset by a reduction in overhead.
Operating performance for the first quarter of 2007 improved significantly to a loss of $505,000, compared to an operating loss of $1.4 million for the same prior year period. The net loss for the first quarter of 2007 was reduced by over $1.1 million to $962,000, or $0.01 per fully diluted share, compared to a net loss of $2.0 million, or $0.03 per fully diluted share, for the same prior year period.
At March 31, 2007, the Company's cash position was $4.7 million and working capital $4.2 million with no short-term principal debt obligations.
About a21
a21 (www.a21group.com) is a leading online digital content company. Through SuperStock (www.superstock.com; www.superstock.co.uk; and www.purestockx.com), and ArtSelect (www.artselect.com), a21 delivers high quality images, art framing, and exceptional customer service. a21 and its companies, with offices in Florida, Iowa, New York City, and London, we provide valuable and viable choices to key business partners and customers in the stock image, art and wall decor industries.
The statements contained in this press release contain certain forward-looking statements, including statements regarding a21, Inc.'s expectations, intentions, strategies, and beliefs regarding the future. All statements contained herein are based upon information available to a21, Inc.'s management as of the date hereof and actual results may vary based upon future events, both within and without the control of a21, Inc.'s management.
Financial Exhibits
a21, Inc. and Subsidiaries
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
($ in thousands except per share amounts)
(unaudited)
Three Months Ended
March 31,
2007 2006
----------- -----------
REVENUE
Licensing revenue $3,168 $2,935
Product revenue 2,956 ---
----------- -----------
TOTAL REVENUE 6,124 2,935
COSTS AND EXPENSES
Cost of licensing revenue (excludes related
amortization of $279 and $362 for three
months ended March 31, 2007 and 2006,
respectively) 950 903
Cost of product revenue (excludes related
amortization of $44 for three months ended
March 31, 2007) 1,397 ---
Selling, general and administrative 3,663 2,805
Depreciation and amortization 619 603
----------- -----------
TOTAL OPERATING EXPENSES 6,629 4,311
----------- -----------
OPERATING LOSS (505) (1,376)
----------- -----------
Interest expense (442) (353)
Warrant expense (1) (265)
Other income(expense), net 13 (14)
----------- -----------
NET LOSS BEFORE INCOME TAX EXPENSE (935) (2,008)
----------- -----------
Income tax expense (27) (27)
----------- -----------
----------- -----------
NET LOSS (962) (2,035)
----------- -----------
Disproportionate deemed dividends --- (157)
----------- -----------
NET LOSS ATTRIBUTED TO COMMON
STOCKHOLDERS $(962) $(2,192)
----------- -----------
NET LOSS ATTRIBUTED TO COMMON STOCKHOLDERS PER
SHARE, BASIC AND DILUTED $(0.01) $(0.03)
----------- -----------
WEIGHTED AVERAGE NUMBER OF COMMON SHARES
OUTSTANDING, BASIC AND DILUTED 84,084,622 71,847,091
CONDENSED CONSOLIDATED BALANCE SHEETS
($ in thousands, except per share amounts)
(unaudited)
March 31, December 31,
2007 2006
----------------------------------------------- --------- ------------
ASSETS
CURRENT ASSETS
Cash and cash equivalents $4,740 $5,455
Accounts receivable, net allowance for
doubtful accounts of $144 and $108, at
March 31, 2007 and December 31, 2006,
respectively 2,626 2,773
Inventory 765 844
Prepaid expenses and other current assets 660 441
--------- ------------
Total current assets 8,791 9,513
Property, plant and equipment, net 7,149 7,300
Photo collection, net 1,577 1,520
Goodwill 8,732 8,648
Contracts with photographers, net 666 718
Deferred rent receivable 521 549
Intangible assets, net 5,001 5,232
Restricted cash 750 750
Other 94 384
--------- ------------
Total assets $33,281 $34,614
========= ============
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable $1,974 $2,770
Accrued compensation 254 359
Accrued expenses 503 430
Royalties payable 1,386 1,288
Warrant obligation --- 18
Deferred revenue 373 242
Other 93 106
--------- ------------
Total current liabilities 4,583 5,213
LONG-TERM LIABILITIES
Senior secured convertible notes payable,
net - related party 15,500 15,500
Secured notes payable, net - related party
(ArtSelect Sellers) 2,537 2,499
Loan payable from sale-leaseback of
building, less current portion 7,391 7,403
Other 107 112
--------- ------------
Total liabilities 30,118 30,727
--------- ------------
a21, Inc. and Subsidiaries
CONDENSED CONSOLIDATED BALANCE SHEETS (continued)
($ in thousands, except per share amounts)
(unaudited)
March 31, December 31,
2007 2006
----------------------------------------------- --------- ------------
COMMITMENTS AND CONTINGENCIES
--------- ------------
MINORITY INTEREST 1,071 2,254
--------- ------------
STOCKHOLDERS' EQUITY
Common stock; $.001 par value; 200,000,000
shares authorized; 89,565,821 and
87,191,575 shares issued and 85,886,046
and 83,511,800 shares outstanding at March
31, 2007 and December 31, 2006,
respectively 89 87
Treasury stock (at cost, 3,679,775 shares) --- ---
Additional paid-in capital 25,739 24,341
Accumulated deficit (24,248) (23,286)
Accumulated other comprehensive income 512 491
--------- ------------
Total stockholders' equity 2,092 1,633
--------- ------------
Total liabilities and stockholders' equity $33,281 $34,614
========= ============
a21, Inc. and Subsidiaries
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
($ in thousands)
(unaudited)
FOR THE THREE MONTHS ENDED MARCH 31, 2007 2006
----------------------------------------------------------------------
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss $(962) $(2,035)
Adjustments to reconcile net loss to net cash used
in operating activities:
Depreciation and amortization 619 603
Amortization of finance costs 27 30
Loss on disposal of equipment 38 65
Change in fair value of warrant obligation (18) 265
Share-based compensation 170 670
Changes in assets and liabilities:
Accounts receivable 147 (245)
Prepaid expenses and other current assets 21 (52)
Inventory 79 ---
Accounts payable and accrued expenses (807) 121
Deferred revenue 131 84
Deferred rent receivable 28 ---
Foreign income tax payable 15 (178)
Other 30 9
------- --------
NET CASH USED IN OPERATING ACTIVITIES (482) (663)
------- --------
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in property, plant and equipment (4) (96)
Investment in software (68) (36)
SuperStock acquisition earn-out --- (67)
Investment in photo collection (208) (76)
Other (3) (40)
------- --------
NET CASH USED IN INVESTING ACTIVITIES (283) (315)
------- --------
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from the exercise of stock options 29 31
Net proceeds from the exercise of stock warrants 19 1,200
Payment of SuperStock seller promissory note
payable (33) ---
Other 31 (7)
------- --------
NET CASH PROVIDED BY FINANCING ACTIVITIES 46 1,224
------- --------
EFFECT OF EXCHANGE RATES ON CASH AND CASH
EQUIVALENTS 4 2
------- --------
NET (DECREASE) INCREASE IN CASH (715) 248
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 5,455 1,194
------- --------
CASH AND CASH EQUIVALENTS AT END OF PERIOD $4,740 $1,442
------- --------
Source: a21, Inc.
----------------------------------------------
Gregory FCA Communications
Joseph Hassett
610-642-8253
JoeH@gregoryfca.com
MODG - Modigene Announces Closing of Merger and $9.6 Million Private Placement, Appointment of Dr. Phillip Frost and Dr. Jane Hsiao to its Board of Directors
May 15, 2007 9:56:00 AM
VIENNA, Va., May 15 /PRNewswire-FirstCall/ -- Modigene Inc., a Nevada corporation (OTC Bulletin Board: MODG) today announced the closing of a $9.6 million private placement, simultaneously with a merger with Modigene Inc., a Delaware corporation ("Modigene Delaware"), a therapeutically driven biopharmaceutical company focused on the development and commercialization of long-acting versions of approved therapeutic proteins which address an existing combined market of more than $20 billion. Dr. Phillip Frost and Dr. Jane Hsiao have been appointed to Modigene's Board of Directors, following a $2 million investment in Modigene made by Dr. Phillip Frost, Dr. Jane Hsiao, Mr. Steve Rubin and Dr. Rao Uppaluri.
Modigene issued 6,418,808 shares at $1.50 per share for a total of $9,628,212 million, and 1,604,702 warrants in the private placement. With the additional $2 million investment from Dr. Frost, Dr. Hsiao, Mr. Rubin and Dr. Uppaluri, total gross proceeds were approximately $11.6 million. The warrants expire five years from issuance, and have an exercise price of $2.50. All of Modigene's directors, executives, and 5% shareholders have signed 18-month lock-up/no-sale agreements. Perceptive Life Sciences Master Fund, a well-known life sciences fund, participated in the private placement.
Modigene Delaware's management and Board of Directors have assumed operational control of the merged public entity, together with newly appointed members Dr. Phillip Frost and Dr. Jane Hsiao. Modigene's CEO, internationally- respected biotechnology entrepreneur Abraham Havron, Ph.D., was one of the lead developers of Merck Serono S.A.'s $1.3 billion multiple sclerosis (MS) drug. Rebif(R). Among his other clinical achievements, Dr. Havron developed BioTechnology General Ltd.'s (Rehovot, Israel) commercial hGH, BioTropin(R), and hepatitis B vaccine, Bio-Hep-B(TM); and a recombinant insulin that is currently licensed to Organon International, Inc. ("Organon").
Dr. Philip Frost is the former Chairman and CEO of IVAX Corp., having served from 1987 until IVAX's sale to Teva Pharmaceuticals in 2006 for $7.4 billion. Dr. Frost is the CEO and Chairman of Opko Health, Inc. (OTC Bulletin Board: EXEG), and the Vice Chairman of the Board of Teva Pharmaceuticals. Dr. Frost was named chairman of the board of Ladenburg Thalmann & Co., Inc., an American Stock Exchange-listed investment banking and securities brokerage firm, in July 2006 and has been a director of Ladenburg Thalmann since March 2005. He serves on the Board of Regents of the Smithsonian Institution, is a member of the Board of Trustees of the University of Miami, a Trustee of each of the Scripps Research Institutes, the Miami Jewish Home for the Aged, and the Mount Sinai Medical Center, and is Vice Chairman of the Board of Governors of the American Stock Exchange. Dr. Frost is also a director of Protalix BioTherapeutics, Inc., a biotech pharmaceutical company; Continucare Corporation, a provider of outpatient healthcare and home healthcare services, Northrop Grumman Corp., a global defense and aerospace company, Castle Brands, Inc., a developer and marketer of alcoholic beverages, and Cellular Technical Services, Inc., a provider of products and services for the telecommunications industry.
Dr. Jane Hsiao served as the Vice Chairman-Technical Affairs of IVAX from 1995 to January 2006. Dr. Hsiao served as IVAX's chief technical officer (CTO) since 1996, and as Chairman, CEO, and President of IVAX Animal Health, IVAX's veterinary products subsidiary, since 1998. From 1992 until 1995, Dr. Hsiao served as IVAX's Chief Regulatory Officer and assistant to the Chairman. Dr. Hsiao served as Chairman and President of DVM Pharmaceuticals from 1998 through 2006. Dr. Hsiao is a director of Protalix BioTherapeutics, Inc., a biotech pharmaceutical company; a director of Opko Health, Inc., a biotech pharmaceutical company; and Cellular Technical Services Company, Inc., a provider of products and services for the telecommunications industry.
Modigene's technology was discovered by researchers at Washington University in St. Louis, Missouri, and is based on a short amino acid sequence, the Carboxyl Terminal Peptide (CTP). CTP occurs naturally in the human body, and when attached to a therapeutic protein, extends the time that such protein can last effectively in the body. This has been demonstrated and validated by Organon - which, on March 12 2007, announced a deal to be acquired by Schering-Plough for $14.4 billion. Organon also licenses the CTP technology from Washington University, and has attached the CTP to a Follicle- Stimulating Hormone (FSH)-a hormone with approximately $1 billion in annual sales that is prescribed for females undergoing fertility treatments. Organon is currently in Phase III clinical trials with its FSH-CTP product, which could complete during 2007. Phase II trials demonstrated that a single injection of FSH-CTP was able to provide the same clinical effect as 7 consecutive daily injections of commercial FSH. These trials demonstrated that attaching the CTP did not affect the therapeutic activity of FSH or cause a negative immune system response in patients. Modigene has an exclusive license with Washington University for use of the CTP with all proteins except four endocrine proteins, which are licensed to Organon.
Modigene conducted preclinical animal model studies in CTP-modified human growth hormone ("hGH"), which is used to treat growth failure in children and adults, and has an existing estimated market size of $2.2 billion; and in CTP- modified erythropoietin ("EPO"), used to treat anemia, with an existing estimated market size of $11.7 billion. A single injection of hGH-CTP has shown the potential to replace 7 to 10 daily injections of commercial hGH, and EPO-CTP has demonstrated increased durability and biological effect over Amgen Inc.'s (AMGN-NASDAQ) Aranesp(R), a long-acting EPO with sales of $4.1 billion in 2006. In addition, Modigene conducted experiments demonstrating that interferon-beta-CTP has similar bioactivity as interferon-beta, for the treatment of multiple sclerosis, with an existing estimated market size of $3.8 billion.
"We are excited about the Modigene opportunity and believe in the management team, products, and underlying technology," said Dr. Frost. "We look forward to working together with the Board of Directors and management in building Modigene into a significant player in the therapeutic proteins market."
"Modigene is developing long-acting versions of therapeutic proteins that have the potential to improve current treatment options in the therapeutic areas of growth hormone disorders, multiple sclerosis, anemia, and diabetes," said Shai Novik, Modigene's President. "We are completely focused on leveraging Modigene's versatile technology, capital-efficient business model, and multiple market opportunities to become a market leader in the area of long-acting therapeutic proteins. We believe Modigene will capitalize on its new status as a public company, and will be better positioned to increase shareholder value. We are delighted that Dr. Frost and Dr. Hsiao have made an investment and joined Modigene's Board of Directors. We believe Modigene will greatly benefit from the vast expertise and skills in biotechnology, pharmaceuticals and shareholder value creation, among many others, that Dr. Frost and Dr. Hsiao possess, and that will now be utilized as we continue to execute our product development and strategic plan for the therapeutic proteins market."
Mr. Steve Rubin, the former Senior Vice President and General Counsel of IVAX, and Dr. Rao Uppaluri, the former Vice President of Strategic Planning of IVAX, have co-invested in Modigene together with Dr. Frost and Dr. Hsiao.
ABOUT MODIGENE
Modigene Inc. (OTC Bulletin Board: MODG) is a publicly-traded biopharmaceutical company utilizing patented technology to develop longer- acting, proprietary versions of already approved therapeutic proteins that currently generate billions in annual global sales. Modigene is currently developing long-acting versions of human growth hormone, erythropoietin, interferon beta, and GLP-1 - each representing a multi-billion dollar market. For more information on Modigene, please visit http://www.modigeneinc.com.
Safe Harbor Statement
This document contains forward-looking statements, including without limitation, statements concerning the completion of an equity financing. The forward-looking statements are also identified through use of the words "potential," "anticipate," "planned" and other words of similar meaning. Actual results may differ significantly from the expectations contained in the forward-looking statements. The risks and uncertainties, including those related to the timing or successful completion of Modigene's product development and commercialization activities, are detailed in Modigene's filings with the Securities and Exchange Commission.
SOURCE Modigene Inc.
----------------------------------------------
Shai Novik
President of Modigene Inc.
1-866-644-7811
shai@modigeneinc.com
AOGS - Avalon Oil & Gas, Inc. Announces A Reverse Stock Split
May 15, 2007 10:05:00 AM
Copyright Business Wire 2007
MINNEAPOLIS--(BUSINESS WIRE)--
Avalon Oil & Gas, Inc., (OTCBB:AOGS) ("Avalon") today announced that the Board of Directors has approved and implemented a reverse stock split and established a ratio of 1-for 20. This move followed a vote by written consent of the stockholders dated April 23, 2007 and an action by written consent of the Board of Directors on April 25, 2007. Avalon common stock began trading on a reverse-split basis, today, May 15, 2007.
As a result of the reverse stock split, every 20 shares of Avalon common stock will be combined into one share of Avalon common stock. The reverse stock split affects all shares of common stock, stock options and warrants of Avalon outstanding as of immediately prior to the effective time of the reverse stock split. Fractional shares equal or greater to one-half share will be rounded up, and fractional shares less then one-half shall be rounded down.
In addition, Avalon also announced today that effective today, May 15, 2007, its trading symbol will change to AOGN.BB from AOGS.BB. The symbol change comes as expected as a result of the Company's previously announced reverse stock split.
About Avalon Oil and Gas, Inc.
Avalon Oil and Gas, Inc. is an independent domestic oil and natural gas producer. The Company's strategy is to generate stable cash flows and production by acquiring a portfolio of oil and gas leases, to use efficient reservoir maintenance and innovative technology to generate asset growth, and to deliver a sustainable rate of return for our shareholders. For more information about Avalon Oil and Gas, Inc., please visit its website at www.avaloninc.com.
Source: Avalon Oil & Gas, Inc.
----------------------------------------------
Avalon Oil and Gas
Inc.
Kent Rodriguez
952-746-9655
DGTC - Del Global Technologies Commences Trading on OTC Bulletin Board
May 14, 2007 3:59:00 PM
Copyright Business Wire 2007
FRANKLIN PARK, Ill.--(BUSINESS WIRE)--
Del Global Technologies Corp. (OTCBB:DGTC) ("Del Global" or "the Company") today announced that the Company's common shares have commenced trading on the Over the Counter Bulletin Board effective May 11, 2007.
James A. Risher, Del Global's President and Chief Executive Officer, commented, "This listing represents another milestone for Del Global. We are making continued progress towards building greater value for our shareholders, as evidenced by, among other things, higher sales and profits in the fiscal 2007 second quarter, and the recently completed, oversubscribed Rights Offering that raised total proceeds of approximately $12.6 million. We believe that this listing will improve Del Global's profile in the investor community and provide enhanced liquidity for investors."
ABOUT DEL GLOBAL TECHNOLOGIES
Del Global Technologies Corp. is primarily engaged in the design, manufacture and marketing of high performance diagnostic imaging systems for medical, dental and veterinary applications through the Del Medical Systems Group. Through its U.S. based Del Medical Imaging Corp. and Milan, Italy based Villa Sistemi Medicali S.p.A. subsidiaries the Company offers a broad portfolio of general radiographic, radiographic/fluoroscopic, portable x-ray and digital radiographic systems to the global marketplace. Through its RFI subsidiary, Del Global manufactures proprietary high-voltage power conversion subsystems including electronic filters, high voltage capacitors, pulse modulators, transformers and reactors, and a variety of other products designed for industrial, medical, military and other commercial applications. The company's web site is www.delglobal.com.
Statements about future results made in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and the current economic environment. Del Global cautions that these statements are not guarantees of future performance. These statements involve a number of risks and uncertainties that are difficult to predict, including, but not limited to: the ability of Del Global to implement its business plan; retention of management; changing industry and competitive conditions; obtaining anticipated operating efficiencies; securing necessary capital facilities; favorable determinations in various legal matters; market and operating risks from foreign currency exchange exposures; and favorable general economic conditions. Actual results could differ materially from those expressed or implied in the forward-looking statements. Important assumptions and other important factors that could cause actual results to differ materially from those in the forward-looking statements are specified in the Company's filings with the Securities and Exchange Commission.
Source: Del Global Technologies Corp.
----------------------------------------------
Del Global Technologies Corp.:
James A. Risher
847-288-7065
Chief Executive Officer
OR
Mark A. Zorko
847-288-7003
Chief Financial Officer
OR
Del Global Media Relations:
M. Thomas Boon
847-288-7023
VP Global Sales and Marketing
OR
The Equity Group Inc.
Devin Sullivan
212-836-9608
Senior Vice President
looks like there is a worm in the big apple.
no comment..lol just thought folks should know.
re: ICRP
FWIW..also news today
IMCOR Pharmaceutical Co. Announces Plans to Cease Public Reporting
SAN DIEGO, May 14 /PRNewswire-FirstCall/ -- IMCOR Pharmaceutical Co. (OTC: ICRP), announced today that its Board of Directors has approved the filing of a Form 15 with the Securities and Exchange Commission ('SEC') to suspend its obligation to continue to file reports under the Securities Exchange Act of 1934 ('Exchange Act'). The company decided to deregister its common stock as permitted under the Exchange Act in order to reduce the legal, accounting, consultant, printing and related costs of preparing and filing those reports. Filing the Form 15 immediately suspends the company's obligations to file Exchange Act reports (such as Form 10-KSB, Form 10-QSB and Form 8-K). The SEC has 90 days in which to accept the Form 15.
The company's common stock may continue to be quoted on the Pink Sheets even though the shares are no longer registered under the Exchange Act, but only to the extent market makers decide to make a market in the company's stock. The company's shares have been very thinly traded and there can be no assurances that market makers will quote the company's shares or that any trading market will ever exist.
'We are pleased to announce this additional cost saving measure,' said Brian Gallagher, Chairman of the Board. 'This will allow us to conserve resources as we continue to implement our restructuring plan and continue our efforts to maximize IMCOR's value.' IMCOR is not currently developing its technologies or marketing or manufacturing products. Instead, the company has implemented a restructuring plan and expects to evaluate on an ongoing basis its alternatives to maximize value to the company, and its creditors and shareholders. IMCOR expects to consider as alternatives the possible sale or license of its remaining assets, a merger or other strategic transaction; however, to date efforts to complete such additional arrangements have not been successful.
This press release contains forward-looking statements about the company's future plans, expectations and objectives. Words such as 'may,' 'will,' 'expects,' 'anticipates,' 'plans,' 'believes,' 'seeks,' 'could,' and 'estimate' and variations of these words and similar statements are intended to identify forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause the actual results to differ materially. Some of these risks are discussed in the company's Form 10-KSB for the year ended December 31, 2006. Readers of this press release are cautioned not to place undue reliance on forward-looking statements. The company undertakes no obligation to publicly update or revise forward-looking statements to reflect changed events or circumstances after the date of this press release.
SOURCE IMCOR Pharmaceutical Co.
Source: PR Newswire (May 14, 2007 - 2:17 PM EDT)
News by QuoteMedia
www.quotemedia.com
yucko on the veggy...cup a coffee sounds good though
both...
LOL...stop that...!
well my question is then
"just out front hav'n a smoke"
whatcha smokin?
lmao
EICU - IBM and VISICU Wire Pacific Rim With Remote Critical Care Services for Military
IBM BladeCenter Powers eICU(R) "Telemedicine" Network, Connecting Patients to Medical Care Experts
IBM (NYSE: IBM) and VISICU, Inc. (NASDAQ: EICU) today announced a joint effort to wire a telemedicine network to provide remote critical care support to military hospitals along the Pacific Rim. Tripler Army Medical Center (Honolulu, Hawaii), in conjunction with staff at University of Hawaii, will manage the remote monitoring and support system using VISICU's eICU® technology on IBM BladeCenter servers. The eICU center, in collaboration with remote military hospitals, will provide an enhanced level of care to active-duty military, their families, and other beneficiaries.
VISICU's eICU solution enables military hospital personnel throughout the Pacific Rim to "electronically connect" with the remote eICU® center in Hawaii. This allows instantaneous access to critical care specialists who are able to monitor patient status and speak directly with bedside clinicians to guide appropriate intervention. By taking immediate action, patients can be stabilized to prevent further complication subsequently eliminating or delaying the need for air evacuation. Using state-of-the-art network and video technologies, along with device connectivity and Smart Alerts®, the eICU specialists have the potential to provide support for over 300 patients across the Pacific Rim.
Tripler Army Medical Center, part of the Pacific Regional Medical Command (PRMC), is the first military medical center to use the VISICU eICU solution for remote monitoring and care of patients. Tripler has been supporting Joint Medical Operations with the U.S. Naval Hospital in Guam four thousand miles away. In order to extend access to other hospitals along the Pacific Rim, a more flexible server platform was required.
By moving to IBM BladeCenter servers and IBM System Storage, Tripler is now in a position to extend support to additional hospitals throughout the Pacific Rim. This advanced solution has the capacity to support over 300 patient connections on an expanded telemedicine network that can span over 4000 miles.
Dr. Eric A Crawley, Chief of Critical Care Medicine at Tripler Army Medical Center, and Dr. Benjamin W Berg, Clinical Professor at University of Hawaii School of Medicine-Telehealth Research Institute, have lead the program to institute the eICU BladeCenter solution. Dr. Berg says, "Access to the best specialists shouldn't be restricted by geographical barriers. With this new infrastructure in place, we will be able to leverage our virtual practice to provide high quality critical care services to a greater number of military personnel and their families."
The Telemedicine and Advanced Technologies Research Center (TATRC), a section of the U.S. Army's Medical Research and Materiel Command, headquartered at Fort Detrick, will be showcasing this solution May 13-15 at the 2007 American Telemedicine Association (ATA) Conference in Nashville, Tennessee.
About VISICU
VISICU, Inc. (NASDAQ: EICU) is a healthcare information technology and clinical solutions company focused on transforming the delivery of critical care through its eICU® Program. Through remote monitoring technology and clinical intelligence, experienced critical care resources are leveraged to provide coverage and early intervention for safer, more effective patient care. Currently more than 200 hospitals serving over 250,000 patients annually have partnered with VISICU to implement eICU programs. For more information, please visit www.VISICU.com. VISICU®, Smart Alerts®, and eICU® are registered trademarks of VISICU, Inc. All rights reserved. visicu-g
For more information about IBM BladeCenter, please visit: www.ibm.com/bladecenter.
Add to Digg Bookmark with del.icio.us Add to Newsvine
Media Contacts:
Vineeta Durani
IBM Media Relations
415-545-2350
vdurani@us.ibm.com
Deb Dominianni
VISICU
410-843-4565
ddominianni@visicu.com
Source: Market Wire (May 14, 2007 - 1:16 PM EDT)
News by QuoteMedia
www.quotemedia.com
ISEC - iSECUREtrac Corp. Hires Former Microsoft Executive, Robert Bierman, as New Vice President of Marketing and Sales
May 14, 2007 1:20:00 PM
OMAHA, Neb., May 14 /PRNewswire-FirstCall/ -- iSECUREtrac Corp. (OTC Bulletin Board: ISEC), an industry leader in electronic monitoring solutions, has appointed former Microsoft Corporation executive, Robert Bierman, as iSECUREtrac's new vice president of marketing and sales.
"We are fortunate to have someone of Bob's caliber joining iSECUREtrac," said Peter Michel, president and CEO of iSECUREtrac Corp. "He has a proven track record of strategic sales growth within governmental markets, as well as exceptional experience and extraordinary accomplishments within the corrections and law enforcement industry."
Prior to joining iSECUREtrac, Bierman lead a sales team at Microsoft Corporation dedicated to the Department of Homeland Security and US intelligence agencies. Bierman's team consistently exceeded sales quotas. Prior to Microsoft, Bierman was the director of corporate sales for Zones Business Solutions, managing a sales team serving more than 1,400 accounts. From 1983 to 1994, he served on the NYPD Swat team and police force. His distinguished service resulted in 42 decorations for bravery and the Medal of Valor from the NYPD Fire Department.
About iSECUREtrac
iSECUREtrac Corp. provides state-of-the-art electronic monitoring technology and administrative services which offer correctional agencies effective solutions for community supervision and offender management. The company's full-service solutions include electronic monitoring systems and monitoring center services, as well as outsourced pretrial, probation and parole. Electronic monitoring systems from iSECUREtrac provide a supervising officer a rich stream of reliable data concerning an offender's location, movement or status. Visit www.isecuretrac.com for more information.
Company Contact:
Jeff Durski, jdurski@isecuretrac.com
David Vana, dvana@isecuretrac.com
(402) 537-0022
Investor Relations:
Liolios Group Inc
Ron Both, ron@liolios.com
(949) 574-3860
SOURCE iSECUREtrac Corp.
----------------------------------------------
Jeff Durski
jdurski@isecuretrac.com
or David Vana
dvana@isecuretrac.com
both of iSECUREtrac Corp.
+1-402-537-0022; or Investor Relations
Ron Both of Liolios Group Inc
+1-949-574-3860
ron@liolios.com
for iSECUREtrac Corp.
lol....
SELL
GVSS - GVI Security Solutions Inc., Reports Record First Quarter 2007 Profits Exceeding Guidance Estimates
May 14, 2007 11:52:00 AM
Copyright Business Wire 2007
CARROLLTON, Texas--(BUSINESS WIRE)--
GVI Security Solutions, Inc. (OTCBB:GVSS), a leading provider of video security solutions featuring the complete Samsung Electronics line of products, today announced its record first quarter profit for the quarter ending March 31, 2007.
"We are pleased to report that the final profit numbers for the quarter came in above our previously announced estimates," stated GVI Chief Financial Officer Joe Restivo. "We had predicted operating income in the range of $400,000 to $500,000 and delivered operating income of $515,000. In addition, our reported net income of $160,000 came in above the $50,000 to $150,000 range we had publicly announced in late March."
"The results we are reporting for this quarter are a significant first step on a new path for GVI," stated GVI Chief Executive Officer Steven Walin. "The decision we made to emphasize GVI's core business has been an important driver in the success of our ongoing turnaround. We have demonstrated that we can deliver on our goals and we look forward to continuing to deliver superior results moving forward."
Net income for the first quarter of 2007 was $160,000, less than $0.01 per diluted share, compared to a net loss of $2.5 million, or ($2.48) per diluted share, in the first quarter of 2006. Excluding results from discontinued operations, the net loss a year ago was $1.5 million, or ($1.53) per diluted share. Operating income during the quarter was $515,000 compared to a loss of $1.1 million the prior year. Operating margin was 4.5%, compared to negative 9.6% in the first quarter a year ago.
Gross profit for the first quarter was $3.0 million, up from $2.4 million a year ago. Gross margin improved to 26.9% from 9.2% in the fourth quarter of 2006 and 20.2% a year ago. This improvement was directly attributable to the Company's movement toward higher-margin, core products and away from non-core product lines such as access control and other products, which generally carried lower margins.
Net revenues in the first quarter of 2007 were $11.0 million as compared to revenues of $11.7 million during the same period last year, and essentially unchanged from the fourth quarter of 2006. The decrease in sales year-over-year was caused primarily by a decline in sales from non-core business lines and sales channels, including direct to consumer and aftermarket channels.
Selling, general and administrative expenses declined to $2.4 million in the first quarter of 2007, or 22.2% of revenues, from $3.5 million, or 29.8% of revenues, during the same period in the prior year. The reduced expense was the result of cost reduction efforts across many of the Company's cost centers.
Conference Call
The company will host a conference call at 4:15 p.m. ET on Monday, May 14, 2007, to discuss earnings for the first quarter ended March 31, 2007. To participate in the event by telephone, please dial (800) 475-6701 five to ten minutes prior to the start time (to allow time for registration). The conference call will be broadcast live over the Internet and can be accessed by all interested parties at http://65.197.1.5/att/confcast. Enter conference ID# 873650. To listen to the call, please visit this Web site at least 15 minutes prior to the start of the call to register, download, and install any necessary audio software. For those unable to participate during the live webcast, an audio replay of the conference call will be archived at http://65.197.1.5/att/confcast for 90 days. A digital replay of the call will also be available on Monday, May 14, at approximately 5:30 p.m. Eastern Time through Monday, May 21, at 11:59 p.m. Eastern Time. Dial (800) 475-6701 and enter access code 873650.
GVI Security Solutions, Inc.
Condensed Consolidated Statements of Operations
(unaudited)
(In thousands, except per share amounts)
Three Months
Ended
March 31
-----------------
2007 2006
-------- --------
Revenues $11,021 $11,696
Cost of Revenues 8,059 9,339
-------- --------
Gross Profit 2,962 2,357
Selling, General and Administrative Expenses 2,447 3,481
-------- --------
Operating Income (loss) 515 (1,124)
-------- --------
Interest Expense 351 398
Income (loss) from continuing operations before
income taxes and loss from discontinued operations 164 (1,522)
Income Tax Expense 4 23
-------- --------
Income (loss) from continuing operations before loss
from discontinued operations 160 (1,547)
Loss from discontinued operations, net of taxes - (962)
-------- --------
Net Income (loss) $160 $(2,509)
======== ========
Basic income (loss) per common share:
Continuing operations income (loss) per common
share $0.00 $(1.53)
======== ========
Discontinued operations loss per common share $0.00 $(0.95)
======== ========
Net income (loss) per common share $0.01 $(2.48)
======== ========
Weighted average common shares outstanding 27,654 1,013
======== ========
Diluted net income (loss) per common share:
Continuing operations income (loss) per common
share $0.00 $(1.53)
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Discontinued operations loss per common share $0.00 $(0.95)
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Net income (loss) per common share $0.00 $(2.48)
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Weighted average common shares outstanding 33,455 1,013
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About GVI Security Solutions Inc.
GVI Security Solutions Inc. is a leading global provider of video surveillance security solutions to the homeland security, institutional and commercial market segments.
Forward-Looking Statements:
Some of the statements made by GVI Security Solutions, Inc. in this press release are forward-looking in nature. Forward-looking statements in this press release are not promises or guarantees and are subject to risks and uncertainties that could cause our actual results to differ materially from those anticipated. These statements are based on management's current expectations and assumptions and are naturally subject to uncertainty and changes in circumstances. We caution you not to place undue reliance upon any such forward-looking statements. Actual results may differ materially from those expressed or implied by the statements herein. GVI Security Solutions, Inc. believes that its primary risk factors include, but are not limited to: ability to continue as a going concern; uncertainty of profitability; reliance on primary supplier; credit limits imposed by primary supplier; effective integration of recently acquired operations and personnel; expansion risks; effective internal processes and systems; the ability to attract and retain high quality employees; changes in the overall economy; rapid change in technology; the number and size of competitors in its markets; outstanding indebtedness; control of the Company by principal stockholders; law and regulatory policy; the mix of products and services offered in the company's target markets; and other factors detailed in the Company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2006 currently on file, as well as the risk that projected business opportunities will fail to materialize or will be delayed.
Source: GVI Security Solutions, Inc.
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GVI Security Solutions
Esra Kahraman-Pope
972-245-7353