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SSWC .0006, up 50%
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sstu (.018) Sandy Steele Unlimited, Inc. Announces Stock Repurchase Plan
Monday, December 24 2007 9:02 AM, EST Market Wire "US Press Releases "
BEVERLY HILLS, CA -- (MARKET WIRE) -- 12/24/07 -- Sandy Steele Unlimited, Inc. (PINKSHEETS: SSTU), an emerging conglomerate with interests in Health, Beauty, Finance and the Media industries, announced today that the Board of Directors approved a plan to repurchase up to 3.5 million shares of the common stock in open market purchases. It is anticipated that the company may complete this buyback within the next 12 months. The repurchases of the free trading common stock may be made from time to time in either open-market transactions or through privately negotiated purchases, subject to the availability of shares.
Additionally, the management may make personal acquisitions of free trading common shares in the open market of up to 2.5 million shares over the next 12 months as well. SSTU currently has approximately 19 million shares outstanding with less than 7 million shares in the public float. The company has no outstanding bonds, preferred or convertible preferred stock, or debt of any kind, and has financed its operations exclusively via Founder's Capital and Working Capital from operations.
C.E.O. Sandy Steele stated, "We look forward to 2008 as a milestone year for our company, as many of the projects that SSTU has invested significant capital and time, should start to produce important benefits and revenues during the year. SSTU has developed first class proprietary Health & Beauty products for women and has expanded marketing these around the world via the Internet. Additionally, over a year ago the company launched its first media property, "Honey, trust me on this...," an Internet talk radio and streaming video show. The weekly live broadcast has become one of the most popular shows on Modavox.com, the leading Internet Talk Radio Network. "We will focus on significantly expanding on these and other successes during the upcoming year," explained Ms. Steele.
Sandy Steele Unlimited (PINKSHEETS: SSTU) is an emerging conglomerate based in Beverly Hills, California which has interests in the health, beauty, publishing, and media industries. (See www.sandybeverlyhills.com and www.steeleunlimited.com) To hear more about SSTU from CEO Sandy Steele go to: http://www.publiccoreport.net/featured/SSTU/company.asp
This press release includes forward-looking statements made under the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including but not limited to the following: product development difficulties; market demand and acceptance of its products; ability to obtain financing; the impact of changing economic conditions; reliance on third parties, including potential suppliers; the impact of competitors; other factors not detailed in this press release. The company currently does not report its quarterly financials to the Securities and Exchange Commission .
Contact:
Richard Kent
310-244-4004
QMED (.15) QMed, Inc. Receives NASDAQ Letter
Monday, December 24 2007 8:58 AM, EST PR Newswire "US Press Releases "
EATONTOWN, N.J., Dec. 24 /PRNewswire-FirstCall/ -- QMed, Inc. , (Nasdaq: QMED) today announced that it has received a letter from Nasdaq indicating, that for the last 30 business days, the bid price of the Company's common stock has closed below the minimum $1.00 per share requirement for continued inclusion under Marketplace Rule 4310(c)(4) (the "Rule"). Therefore, in accordance with Marketplace Rule 4310(c) (8) (D), the Company will be provided 180 calendar days, or until June 16, 2008 to regain compliance. If, at any time before June 16, 2008 , the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Company will be provided written notification that it complies with the Rule.
If compliance with this Rule cannot be demonstrated by June 16, 2008 , Nasdaq Staff will determine whether the Company meets The Nasdaq Capital Market initial listing criteria as set forth in Marketplace Rule 4310(c), except for the bid price requirement. If it meets the initial listing criteria, the Company will be notified that it will be granted an additional 180 calendar day compliance period. If the Company is not eligible for an additional compliance period, the Company will receive written notification from Nasdaq Staff that the Company's securities will be delisted. At that time, the Company may appeal the Staff's determination to delist its securities to a Listing Qualifications Panel.
About QMed, Inc.
QMed has developed evidence-based clinical information management systems for use by health plan customers. The QMed systems incorporate Disease Management services to patients and decision support to physicians. The Company's subsidiaries have specialized in serving high-risk populations of Medicare beneficiaries.
Except for historical information contained herein, matters discussed in this news release are forward-looking statements that involve risks and uncertainties. They include but are not limited to those relating to the timely implementation of programs, the impact of business and operational conditions, competitive product introductions, acceptance and pricing, and those risks detailed in the Company's filings with the Securities and Exchange Commission (SEC). Actual results may differ materially from any forward- looking statements due to these risks and uncertainties.
Contact: William Schmitt, QMed, Inc. -- 732-544-5544 x1112
SOURCE QMed, Inc.
incc (.38) International Consolidated Companies, Inc. Extends Holiday Greetings to Shareholders
Monday, December 24 2007 8:58 AM, EST Market Wire "US Press Releases "
SARASOTA, FL -- (MARKET WIRE) -- 12/24/07 -- International Consolidated Companies, Inc. (OTCBB: INCC) extends holiday greetings to its shareholders, employees and partners. Antonio Uccello III, Chairman & CEO of ICCI, stated, " Our Company is ending the year on a positive and exciting trend. After a great deal of due diligence and preparation, our acquisition design is working as planned and we are rapidly moving forward. I believe that 2008 will be a year filled with exciting new opportunities and our Management team is ready and capable to have a breakout year."
About International Consolidated Companies, Inc. :
International Consolidated Companies, Inc. specializes in acquiring international businesses located in the expanding Asian markets focusing on three dynamic areas: healthcare, technology and environment. Utilizing a unique acquisition model International Consolidated Companies, Inc. provides foreign companies an opportunity to gain access to U.S. capital markets. In exchange, International Consolidated Companies, Inc. retains a significant percentage of each target company, creating a diversified, growth oriented investment base that should enjoy a steady, long-term increase. Each target company reviewed for acquisition must meet specific criteria detailed in International Consolidated Companies, Inc.'s acquisition model and has proven commercial track records. Management is confident that it should deliver consistent, continued growth and be successful in increasing shareholder value through accurate and meticulous due diligence.
Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by International Consolidated Companies, Inc. (the "company") as well as those contained herein, that are not historical facts are "forward-looking" statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, and because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements, including those in Management's Discussion and Analysis, are statements regarding the intent, belief, or current expectations, estimates, or projections of the company, its directors, or its officers about the company and the industry in which it operates and are based on assumptions made by management. Forward-looking statements include without limitation statements regarding: (a) the company's strategies regarding growth and business expansion, including future acquisitions; (b) the company's financing plans; (c) trends affecting the company's financial condition or results of operations; (d) the company's ability to continue to control costs and to meet its liquidity and other financing needs; (e) the declaration and payment of dividends; and (f) the company's ability to respond to changes in customer demand and regulations. Although the company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions are generally intended to identify forward-looking statements.
Important factors that could cause the actual results to differ materially from those in the forward-looking statements include, among other items, (i) changes in the regulatory and general economic environment; (ii) conditions in the capital markets, including the interest rate environment and the availability of capital; (iii) changes in the competitive marketplace that could affect the company's revenue and/or cost and expenses, such as increased competition, lack of qualified marketing, management or other personnel, and increased labor and inventory costs; (iv) changes in technology or customer requirements, which could render the company's technologies noncompetitive or obsolete; (v) new product introductions, product sales mix, and the geographic mix of sales.
The company disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this advertisement are forward-looking statements that involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, governmental approval processes, the impact of competitive products or pricing, technological changes, and the effect of economic conditions.
Contact:
MyIrFirm@sbcglobal.net
NMSS (1.67) VRSO (.35) NMS Communications Announces Sale of its AccessGate(TM) Business
Monday, December 24 2007 8:58 AM, EST Business Wire "US Press Releases "
FRAMINGHAM, Mass.--(BUSINESS WIRE)--
NMS Communications Corp. (NASDAQ: NMSS), a leading provider of applications and platforms for value-added services for mobile telecommunications networks, today announced the sale of its AccessGate(TM) business to Verso Technologies, Inc. (NASDAQ: VRSO), a global technology provider of next generation network solutions. Under the terms of the agreement, Verso acquired the business and associated assets and liabilities for total consideration of $3.35 million , including $850,000 of cash and $2.5 million of Verso common stock. The AccessGate(TM) business will be integrated with Verso's NetPerformer optimization product line, and substantially all the NMS employees of the AccessGate(TM) business will become employees of Verso Technologies, Inc.
"This sale will enable us to focus all our resources on our two strategic business units: the Communications Platforms business and the recently launched LiveWire Mobile business. We significantly sharpened our focus on these two business areas with the re-organization of the company earlier this year into two fully integrated businesses, and the sale of the AccessGate(TM) business is another step forward on this path," said Bob Schechter, NMS Communications ' Chairman and CEO. "AccessGate's solutions have been well received in the marketplace and we believe the business will be in an even better position to thrive as part of Verso Technologies."
"We have made significant progress toward improving our financial performance throughout the year. LiveWire Mobile is on track to achieve another year of significant top line growth and major milestones, such as the managed service launch of Virgin Mobile's ringback tone offering during Q4 2007. The Communications Platforms business is on track for a year of solid profitability and healthier second-half top line performance, and has likewise achieved significant design win milestones, such as the recently announced selection of our 3G Mobile TV platform by China's Datang Mobile for its 3G Mobile Interactive Entertainment solution." Schechter concluded.
Updated Q4 2007 Guidance
AccessGate(TM) will be treated as a discontinued operation and as such will not be included in revenues and operating income results from continuing operations, both currently and retrospectively. Previously reported AccessGate(TM) revenues in Q3 2007 were approximately $2 million , and the AccessGate(TM) business operated at approximately break- even on a non-GAAP basis.
Excluding AccessGate(TM) revenues and operating income from Q4 2007 results, we currently anticipate Q4 2007 revenues from continuing operations to be up modestly from comparable Q3 2007 levels, and we expect to operate at about break-even from continuing operations on a non-GAAP basis. These expectations are unchanged from our previously issued guidance after the removal of AccessGate(TM) from continuing operations for all reporting periods.
About NMS Communications
NMS Communications (NASDAQ:NMSS) is a leading provider of applications, platforms and technologies that make possible the rapid creation and deployment of a broad range of value-added services, from voice mail to IVR to ringback and mobile TV. Visit www.nmss.com for more information
Statements in this document expressing the beliefs and expectations of management regarding future performance are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including forward-looking statements about our expected future financial and operating performance and demand for and performance of our products and growth opportunities. These statements are based on management's expectations as of the date of this release and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to risks and uncertainties including, but not limited to, uncertainty in communications spending, the implementation of the Company's strategic repositioning and market acceptance of the Company's new solutions strategy, quarterly fluctuations in financial results, the Company's ability to exploit fully the value of its technology and its strategic partnerships and alliances, the availability of products from the Company's contract manufacturer and product component vendors and other risks. These and other risks are detailed from time to time in the Company's filings with the Securities and Exchange Commission , including the Company's annual report on Form 10-K for the year ended December 31, 2006 . In addition, while management may elect to update forward-looking statements at some point in the future, management specifically disclaims any obligation to do so, even if its estimates change. Any reference to our website in this press release is not intended to incorporate the contents thereof into this press release or any other public announcement.
Use of Non-GAAP Financial Measures
The Company has provided in this release references to non-GAAP net income and/or non-GAAP earnings (loss) per share figures, which are non-GAAP financial measures adjusted to exclude certain non-cash and other specified expenses. The Company believes that these non-GAAP financial measures are useful to help investors better understand and assess the Company's past financial performance and prospects for the future and facilitates comparisons with the performance of others in our industry. Management uses these non-GAAP financial measures when evaluating the Company's financial results, as well as for internal planning and forecasting purposes. Specifically, in addition to the reasons stated above, the Company excludes stock-based compensation from its non-GAAP financial measures because the accounting treatment for stock-based compensation has changed with the adoption of SFAS 123R. Therefore, management believes that excluding stock-based compensation from its non-GAAP financial measures is useful in order to offer consistent information that is comparable to previous information that the Company has publicly disclosed with respect to prior periods for which stock-based compensation was not expensed in accordance with the accounting rules applicable to such periods. Additionally, the Company excludes the effects of amortization of acquired intangible assets from its non-GAAP financial measures because, in the period prior to the Openera acquisition, it did not incur amortization expense of this nature, and the exclusion of this amount helps investors compare operating expenses with prior periods. The non-GAAP financial measures disclosed by the Company, however, should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the expected results calculated in accordance with GAAP and reconciliations to those expected results should be carefully evaluated. The non-GAAP financial measures used by the Company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies.
NMS Communications , MyCaller and AccessGate(TM) are trademarks of NMS Communications Corporation . All other brand or product names may be trademarks or registered trademarks of their respective holders.
Source: NMS Communications Corp.
gcme (.14) Greater China Media & Entertainment Corp. Subsidiary Manages BMW Event
Monday, December 24 2007 8:28 AM, EST PR Newswire "US Press Releases "
BEIJING , Dec. 24 /Xinhua-PRNewswire/ -- Greater China Media & Entertainment Corporation (OTC Bulletin Board: GCME; "GCME"), an integrated professional media and entertainment company, reports that its subsidiary, Racemind HuaDing (Racemind), entered a service agreement with BMW Brilliance Automotive Ltd. (BMW). Prior to being awarded this contract, Racemind bid to sponsor the Canon Spring Products Promotion in 2008 for US $1.6 million , indicating a good start for next year.
Racemind was retained by BMW to organize its 2007 Team Building event. This event focused on cultivating team spirit, creating a sense of social responsibility and enhancing communication. Racemind not only planned and recorded all the activities but also designed and decorated the venue, as well as other related works on site. The projected value was approximately US $62,200 .
''Expertise, creativity and comprehensive services have been key elements in Racemind's growth. Among all the public relations firms in China , Racemind was appointed as the vendor for two prominent companies: Microsoft China and Siemens. I'm confident 2008 will be a glorious year. We'll continue to enrich our value and extend our presence by collaborating with companies in new industry sectors,'' stated Jake Wei, Chairman and CEO of Greater China Media & Entertainment.
About Greater China Media and Entertainment Corporation :
Greater China Media & Entertainment Corp. ("GCME" or the "Company") is an integrated professional media and entertainment company covering various areas including film and TV program production, management, promotion and distribution. The Company maintains its own film and television production center, promotion agency, audio-visual distribution company, digital network company, talent agency, and sales and advertising agency as a result of recent joint ventures. With its broad range of media and entertainment talents, the Company is capable of making films, TV programs and related projects on a large scale.
Joint Ventures:
In June 2006 , GCME signed and closed an Acquisition Agreement with Triumph Research Limited , a BVI company and party to a Joint Venture Agreement with Beijing Tangde International Film and Culture Co., Ltd. (Tangde), a Chinese company focused on producing TV programming and movies. The Company's public relations, media strategy, consulting and event management joint venture, Beijing Racemind HuaDing International Marketing Consultants Limited (Racemind HuaDing) was organized in 2006 and approved for business by the Beijing Administration for Industry in May 2007 . The Company also signed an agreement with Beijing Star King Talent Agency to form a joint venture to carry on business as a talent agency.
Milestones
Movie and television series production and distribution
-- GCME closed first round of private placement for US$1.6 million .
-- GCME-signed stars appeared in the 'Invincible' TV Series.
-- Signed a production and distribution deal with Mega Vision Productions
Limited for the new movie 'Tough Guy'. The movie completed shooting
recently.
-- Took delivery of its first script for its 'True Love' television series
to be directed by famed director Wong Jing.
-- Signed a production and distribution deal for its 'Poor Dad, Rich Dad'
television series with HuaYi Union Cultural Media Investment Company
Limited . The series wrapped up shooting recently.
Racemind HuaDing
-- Organized "Family Event" and produced product VIDEO for
Johnson & Johnson Medical Ltd.
-- Bid to sponsor the Canon Spring Products Promotion Event in 2008.
Arranged 2007 China Canon Exhibition Tennis Tournament, 2007 Canon
ANA Beijing International Marathon, and Canon Asian Expo 2007.
-- Signed public relations services agreement with China Central
Television (CCTV) for the 2007 Asia-Pacific Robot Contest.
-- Signed service agreement with Siemens Ltd. , China's Transportation
Systems group. Organized the 10th Anniversary Ceremony of Siemens
Management Institute
-- Selected by Microsoft China as an approved public relations vendor,
and arranged conferences, new product press releases and events.
For more information, please visit the Company website at http://www.greaterchinamedia.com .
Forward-looking statements:
This report 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. All statements other than statements of historical facts included in this report are forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors; developments of the Chinese and North American markets and changes in regulatory matters; our business strategies and future plans of operations; the market acceptance and amount of sales of our products and services; our historical losses; the competitive environment within the industries in which we compete; and our ability to raise additional capital, currently needed for expansion. The Company cautions that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements due to several important factors.
For more information, please contact:
Greater China Media & Entertainment Corp.
Jake Wei
Tel: +86-10-5921-2333
SOURCE Greater China Media & Entertainment Corp.
shtp (.05) ShotPak, Inc. Announces Update Following Shareholder Meeting
Monday, December 24 2007 8:28 AM, EST Business Wire "US Press Releases "
IRVINE, Calif .--(BUSINESS WIRE)--
ShotPak, Inc. (Pink Sheets:SHTP) today announces an update following the shareholders' meeting and the overwhelming approval for the Technology Transfer agreement with Beverage Pouch Group of Sarasota , FL. The following is an update on the Company's activities for the next three months.
R. Charles Murray, CEO of BPG commented, "The vote of confidence from the shareholders has allowed us to move very quickly into the Company and tackle key elements allowing us to keep the momentum going."
The production unit will start a second shift to meet rising demand. A second high speed machine is under construction for the summer market holiday period and this new capacity will also open the doors for further expansion into some of the big national chains.
At the same time the Company is going to continue expanding the export markets to UK, Central America , Australia , India , China and Korea and potentially Italy and Turkey . These markets want US products and the ShotPak StandUp patented pouch allows controlled drinking. In addition, the heat seal feature of the patented pouch design gives added security that the product is not counterfeit.
Mr. Murray continues the Company outlook by saying, "Looking ahead, the Company anticipates that it will submit the required information to Pink Sheets to remove the Skull & Crossbones categorization in January. The Company also hopes to move to the OTCBB by the third or fourth quarter of '08. Next is to fix the debt and ensure that the distribution goes national. We will have warehouses in California , Michigan and Florida ."
To facilitate these changes, the Company has taken a different turn with a new Board of Directors. Joining the Company is Bill Marin as President, Gerry Patterson as secretary, Erik Willens as Corporate Counsel and The Haynie Co. will be providing the CPA and Financial staffing support to the Company. ShotPak will also have a Management Committee consisting of the Board, key distributors and shareholders.
Bill Marin, the new President of ShotPak Inc. , commented, "With this technology deal, we should explain that the runaway debt load accumulated during the early years, was a heavy burden and was preventing any growth in the Company. The BPG Technology agreement provides us with 15% of Beverage Pouch Group , an annual dividend as well as a royalty on each case sold. This helps us pay off the existing debt so we can now concentrate on research and development of new products. With the original founder having retired from the business, the new management structure from BPG will allow us to easily meet the demands of the global market place."
Information on ShotPak, Inc. :
ShotPak, Inc. , an Irvine, California based company, since 2003, is a leading distiller and innovator of cocktails and straight spirits in patented soft portable single serving standup pouches. With over 50 years of combined experience and expertise in alcohol distilling, distribution and field marketing, retail placement and promotion as well as consumer trial and adoption, they prove to be a forerunner in the single serve Ready to Drink (RTD) alcohol category. With the successful launch of four premium vodka flavored drinks and four premium distilled spirits in January 2007 , ShotPak has instantaneously captured national attention in the rapidly emerging $110 billion plus alcohol beverage industry, with distilled spirits showing an 8.1% increase. They are recognized for being visionaries with their award-winning spirits and revolutionary packaging which gives consumers a cost effective way to purchase spirits without the bulky bottle.
ShotPak products are packaged in single serving, lightweight, break-resistant, recyclable plastic pouches with a built-in spout, making it easy to pour anywhere. ShotPak products are ideal for camping, boating, golfing, concerts, sporting events, or for anyone on-the-go. Made with recyclable plastic instead of glass, ShotPak products provide a safe alternative especially during summer activities. ShotPak, Inc. is immersed in a national roll-out through strategic distribution channels and is expected to be available in most major markets this year.
For more information about ShotPak, Inc. please visit us at: www.shotpakinc.com.
Information on Beverage Pouch Group :
Beverage Pouch Group , a Sarasota, Florida based company, since 1996, is the leading provider of StandUp pouch machinery through its parent Company PPi Technologies Global, in North America . BPG is a prolific innovator of pouch designs and structures for life style beverages, including Natural Flavor Waters, all types of cocktails and straight spirits, wines and draft beers in patented soft portable single serve and sustainable StandUp pouches. The Beverage Pouch Group is truly global with plants in Germany , Korea and China . BPG's pouch machinery is the industry standard.
Beverage Pouch Group offers a full range of Lifestyle Beverages to the consumer in sustainable StandUp pouches. The Beverage Pouch Group machines and StandUp pouches are marketed through four divisions: ShotPaQ for liquors; BevPaQ for natural flavor waters, teas, coffees and energy drinks; VinoPaQ for wines; and BeerPaQ for draft beers.
BevShot is BPG's contract packing division. A customer brings their proprietary recipe and BPG's BevShot division then utilizes their machinery and process to fill that product into patented pouches. This arrangement saves a small company precious capital at times when resources are needed to grow their business by allowing them to meet the financial requirements to begin production without the cost of purchasing their own equipment.
Safe Harbor: Except for the historical information contained herein, the matters set forth in this press release, including the description of the Company and its product offerings, are forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the historical volatility and low trading volume of our stock, the risk and uncertainties inherent in the early stages of growth companies, the Company's need to raise substantial additional capital to proceed with its business, risks associated with competitors, and other risks detailed from time to time in the company's most recent filings with the Securities and Exchange Commission . These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements.
Source: ShotPak, Inc.
zlue (1.405) Zulu Energy Corp. Completes Botswana Acquisition
Monday, December 24 2007 7:58 AM, EST Market Wire "US Press Releases "
DENVER, CO -- (MARKET WIRE) -- 12/24/07 -- Zulu Energy Corp. (OTCBB: ZLUE) today announced the closing of agreements resulting in Zulu Energy becoming the owner of all of the stock of Nyati Mauritius Limited . Nyati Mauritius ' indirect wholly-owned subsidiary, Nyati Energy Resources Botswana (Proprietary) Limited , holds exploration licenses in Botswana . Zulu Energy acquired its interests based on management's belief in the potential for a significant Coalbed Methane project in the lease area.
In connection with the share acquisition, Zulu issued 30 million shares of its common stock and agreed to pay an aggregate of $3 million in cash and to issue a five-year warrant to purchase 15 million shares of Zulu common stock. Zulu must raise a minimum of $5 million in private financing or a portion of the transaction may be rescinded.
Paul Stroud , President and CEO of Zulu Energy, said he is pleased to have concluded the share acquisitions, and that he is making plans to commence exploratory work in Botswana in early 2008. Mr. Stroud noted that additional financing will be required to meet the Company's funding commitments in the share exchange and to pursue the project work in Botswana .
Forward-Looking Statements
This press release includes forward-looking statements as determined by the U.S. Securities and Exchange Commission (the "SEC"). All statements, other than statements of historical facts, included in this press release that address activities, events, or developments that the Company believes or anticipates will or may occur in the future are forward-looking statements. Such 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 be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include the Company's ability to obtain financing to pay a portion of the acquisition consideration and to fund project work in Botswana , the absence of any proved reserves, the need to obtain governmental approvals to renew the leases and to conduct various operational activities, general economic and business conditions, and other factors over which the Company has little or no control. The Company does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this press release should be considered in conjunction with the warnings and cautionary statements contained in the Company's filings with the SEC.
Contact:
Satyendra Deshpande
Chief Financial Officer
Zulu Energy Corp.
(716) 400-1664
ITRA (4.99) Intraware Signs Contract Renewal Agreement with Business Objects
Monday, December 24 2007 7:58 AM, EST Business Wire "US Press Releases "
ORINDA, Calif.--(BUSINESS WIRE)--
Intraware(R), Inc. (NASDAQ:ITRA), the leading provider of on-demand solutions for digital asset delivery and management, announced today that Business Objects, the world's leading provider of business intelligence solutions, has renewed its agreement for Intraware's SubscribeNet(R) digital asset and entitlement management solutions. Based on this renewal, Business Objects customers worldwide will continue to benefit from the SubscribeNet services that help them maximize the value of their Business Objects software assets.
"We are pleased that Business Objects has partnered with us for seven years to put business processes in place around new software releases and updates incorporating SubscribeNet technologies," said Justin Benson, senior vice president of business development and sales, Intraware, Inc. "We look forward to continuing to work together."
About Intraware
Intraware, Inc. provides digital services that enable enterprise technology publishers to tie together licensing and software processes into a clean, simple customer experience. The Intraware SubscribeNet service (patents pending) is a Web-based delivery and support platform that enables technology companies to deliver, track and manage the software, licenses and other digital content they distribute to their customers. 99.6 percent of Fortune 500 companies and 90 percent of Global Fortune 1000 companies have downloaded software or license keys on the SubscribeNet platform. More than two million end users from those companies and others have used the service. SubscribeNet powers business-to-business technology providers including IBM, Progress Software Inc. , EMC Corporation , Sybase Inc. , and McKesson. Intraware is headquartered in Orinda, California and can be reached at 888.446.8729 or http://www.intraware.com.
(C) 2007 Intraware, Inc. Intraware and SubscribeNet are registered trademarks of Intraware, Inc. Any other company or product names mentioned herein may be trademarks of their respective owners.
Source: Intraware, Inc.
grco (.075) Greenbelt Resources Announces Change on the Board of Directors
Monday, December 24 2007 7:28 AM, EST Business Wire "US Press Releases "
MINNEAPOLIS --(BUSINESS WIRE)--
Greenbelt Resources (Pink Sheets:GRCO), and its wholly owned subsidiary, Diversified Ethanol Corporation announced today that Taylor Moffitt, the two companies' founder and long time Board Member, has submitted his resignation from both corporations effective immediately.
Mr. Moffitt stated in his resignation, "I've been honored to serve as a Board Member. The company now has a superb and growing management team established; projects slated, ordered, and awaiting permits; and demand for company products with multiple pending sales. I am solidly confident that management will continue heading in its course of growth and success--in 2008 and in the years to come." He further reflected that while he wishes to avoid any possible conflicts, he plans to be active with another publicly traded company and will not have the time to do justice to both companies in the future. He encouraged the two boards to look for additional board members having experience in the dairy and waste management systems and in the biodiesel & ethanol fields and would recommend names to the board should they request as any current or future stockholder would want success for the company. Moffitt wished to state publicly that he will continue to have and keep GRCO stock, and will continue to be an actively supportive shareholder long term.
Robert Johnson, CEO of GRC, thanked Mr. Moffitt for his dedicated service and reflected the companies would be interviewing for a replacement after the first of the year as the resignation was unexpected.
Johnson also extends Holiday Greetings to all shareholders and is excited about the future of the company in 2008 & the years ahead. He reflected many news items on the companies growth will be released in the very near future.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements. These forward-looking statements involve certain risks & uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history & history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Source: Greenbelt Resources Corporation
CRWS (3.35) Crown Crafts Announces Final Purchase Price for Springs Infant and Toddler Product Line
Monday, December 24 2007 6:58 AM, EST PR Newswire "US Press Releases "
GONZALES, La., Dec. 24 /PRNewswire-FirstCall/ -- Crown Crafts, Inc. ("Crown Crafts" or the "Company") (Nasdaq: CRWS) today announced the final purchase price for its acquisition, through its wholly-owned subsidiary, Crown Crafts Infant Products, Inc. , of the infant and toddler product line of Springs Global US, Inc. ("Springs").
At closing, the Company paid approximately $12.4 million for the inventory, intellectual property and certain other assets associated with the Springs' infant and toddler product line and assumed certain liabilities. The final purchase price, which was subject to adjustment pending the completion of the final inventory valuation, was $11.0 million , a reduction of $1.4 million .
"The Company is very excited about the future of this product category," said E. Randall Chestnut, Chairman, President and Chief Executive Officer of the Company. "As we reported earlier, a projected future EBITDA (Earnings before interest, taxes and depreciation) of approximately $4.4 million annually after the effects of the shared services agreement versus a final purchase price of $11.0 million presents a significant opportunity for the Company."
About Crown Crafts
Crown Crafts, Inc. designs, markets and distributes infant consumer products, including bedding, blankets, bibs, bath items and accessories. Its subsidiaries include Hamco, Inc. in Louisiana and Crown Crafts Infant Products, Inc. in California . Crown Crafts is America's largest distributor of infant bedding, bibs and bath items. The Company's products include licensed and branded collections as well as exclusive private label programs for certain of its customers.
This release contains forward-looking statements within the meaning of the Securities Act of 1933, the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Such statements are based upon management's current expectations, projections, estimates and assumptions. Words such as "expects," "believes," "anticipates" and variations of such words and similar expressions identify such forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause future results to differ materially from those suggested by the forward-looking statements. These risks include, among others, general economic conditions, including changes in interest rates, in the overall level of consumer spending and in the price of oil, cotton and other raw materials used in the Company's products, changing competition, changes in the retail environment, the level and pricing of future orders from the Company's customers, the Company's dependence upon third-party suppliers, including some located in foreign countries, customer acceptance of both new designs and newly-introduced product lines, actions of competitors that may impact the Company's business, disruptions to transportation systems or shipping lanes used by the Company or its suppliers, and the Company's dependence upon licenses from third parties. Reference is also made to the Company's periodic filings with the Securities and Exchange Commission for additional factors that may impact the Company's results of operations and financial condition. The Company does not undertake to update the forward-looking statements contained herein to conform to actual results or changes in our expectations, whether as a result of new information, future events or otherwise.
SOURCE Crown Crafts, Inc.
cbbd (3.0) China Broadband Announces Approval of Quotation of Common Stock on OTC Bulletin Board and Plans to Acquire 50% of Shandong Radio & Broadcasting Newspaper Group
Monday, December 24 2007 6:58 AM, EST Market Wire "US Press Releases "
BOULDER, CO -- (MARKET WIRE) -- 12/24/07 -- China Broadband, Inc. (OTCBB: CBBD) (formerly CBBD.PK) (the "Company"), a provider of digital cable TV value-added services in the Jinan region of Shandong Province in the People's Republic of China , announced today that the Company's common stock has been approved for quotation on the OTC Bulletin Board. The approval was received on December 20, 2007 .
In addition, the Company, through its China -based subsidiary, Jinan Zhong Kuan Dian Guang Information Co. Ltd ("Jinan"), has entered into a non-binding letter of intent to acquire 50 percent of Shandong Radio & Broadcasting Newspaper Group (" Shandong Group ") for approximately $4 million (based on current exchange rates), with the first payment of half the purchase price to be made on or before February 5th, 2008 .
Shandong Group is a China -based publisher of digital and analog television program guides, newspapers and entertainment magazines. It holds the exclusive license to publish television program guides in Shandong Province, which is one of the largest regional economies in China .
The Company's long term goal is to acquire local TV program guide providers (both in print media and digital media formats) and bundling them with cable broadband and interactive TV offerings, following the government's mandate to convert analog TV to digital TV in all major cities by 2008 and throughout China by 2015. Cable TV value-added service is a rapidly growing market in China and includes cable broadband, electronic program guides, home shopping, interactive TV entertainment such as VOD, and interactive digital TV advertising.
Clive Ng, Chairman of China Broadband, Inc. , stated, "We are extremely pleased to be quoted on the OTC Bulletin Board, which we believe will allow us to grow faster and enhance our communications with shareholders. This is another exciting step toward our long-term goal of becoming a successful digital cable TV value-added service provider in partnership with SARFT ( State Administration of Radio, Film and Television). We believe that the Shandong Group transaction will be synergistic to our strategy. Cable TV value-added services compose a growing sector, and China Broadband has already achieved a strong regional foothold in one of China's largest regional markets. We will continue to explore further strategic partnerships. To support our growth, we are looking forward to adding new members to our management team and to our board of directors in 2008."
About China Broadband
China Broadband, formerly Alpha Nutra, Inc. , is a new player in China's growing cable broadband and programming electronic and print media markets. The Company's initial focus is in the Shandong Province of China . The Company's flagship operation is Jinan Jia He Broadband, also known as Jinan Broadband, the fifth largest broadband operator in China and the second largest broadband service provider in Shandong's capital city of Jinan. A spin-off of Jinan Jia He Digital TV Co. Ltd. , Jinan Jia He Broadband has a close equity bond with Jinan Cable Network, the cable monopoly in Jinan with 1.3 million cable TV subscribers.
Disclosure
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 .
Consulting For Strategic Growth1, Ltd. ("CFSG1") provides China Broadband, Inc. ("the Company") with consulting, business advisory, investor relations, public relations and corporate development services, for which CFSG1 receives a fixed monthly fee for the duration of the agreement. Independent of CFSG1's receipt of cash or other compensation from the Company, CFSG1 may choose to purchase the common stock of the Company and thereafter sell those shares at any time it deems appropriate to do so.
CONTACTS:
Stanley Wunderlich
CEO
Consulting For Strategic Growth I
Tel: 1-800-625-2236
Fax: 1-212-337-8089
Email Contact
www.cfsg1.com
Daniel Stepanek
EVP, Media
CFSG1
Tel: 1-800-625-2236
Fax: 1-212-337-8089
Email Contact
rfivf (.3) Resource Finance & Investment Ltd: RFI Moves Toward Listing on the Bermuda Stock Exchange & Files Form 15 to Deregister Common Stock With SEC
Monday, December 24 2007 6:45 AM, EST Business Wire "US Press Releases "
Hamilton, BERMUDA --(BUSINESS WIRE)--
Resource Finance & Investment Limited ("RFI") (OTCBB:RFIVF) announced today that the Board of Directors has resolved to commence the application process for the listing of its common stock on the Bermuda Stock Exchange . The Company anticipates that its application will obtain approval early in 2008. In addition, RFI has filed its Form 15 with the Securities and Exchange Commission (the "SEC") to deregister its common stock and to suspend its reporting obligations under the Securities Exchange Act of 1934. Upon filing of the Form 15, RFI's obligation to file with the SEC certain reports, including Forms 20-F and 6-K, will cease. RFI expects that deregistration will be effective within 90 days. The common stock of RFI will no longer be quoted on the OTC Bulletin Board. The Company will keep shareholders advised as to the status of its application with The Bermuda Stock Exchange and subsequent trading options through press releases.
RFI is a Bermudan incorporated entity and with the growth plan envisioned by the exchange has taken the initiative to be the first mineral resource listing on the exchange in recent history. RFI to date, has been a fully reporting foreign issuer with the SEC, but as a smaller entity could not justify the ever increasing cost associated with very little quantifiable benefit. RFI will maintain the same level of disclosure and corporate governance and expects it will save significant management time and cost as a result of deregistration and provide more on implementing its business plan.
The Bermuda Stock Exchange (BSX) has recently been acknowledged as a recognized stock exchange by the Australian Securities Exchange (ASX) and as a full member of the World Federation of Exchanges has been acknowledged by its peers to meet the highest regulatory and operational standards. Similarly the US Securities Exchange Commission recognises the BSX as a 'Designated Offshore Securities Exchange' (DOSM) and the UK Financial Services Authority (FSA) recognises the BSX as a 'Designated Investment Exchange' (DIE).
Philip Garratt, the President and CEO of RFI, stated that "RFI management are very optimistic about the potential that exists within our existing asset base, comprising listed equity and higher risk exploration activities and see the listing process with the BSX as a positive step towards obtaining more exposure and opportunity to fund these and other opportunities in the minerals sector".
Legal Notice Regarding Forward Looking Statement
This press release contains "forward looking statements" including forward looking statements as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. Statements in this press release that are not purely historical are forward looking statements and include any statements regarding beliefs, expectation or intentions concerning the future. Forward looking statements in this press release include, but are not limited to statements regarding the Corporation's anticipation that the Mineral Claims will prove to be economically viable on a going forward basis, and the Company's anticipation that it can successfully raise the capital necessary to acquire and exploit the Mineral Claims, with or without an equity offering. It is important to note that the Corporation's actual outcomes may differ materially from those in forward-looking statements contained in this press release. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations and intentions will prove to be accurate. Readers should refer to the risks disclosures in the Company's public filings with the Securities and Exchange Commission .
Source: Resource Finance & Investment Limited
utlm (.6) USTelematics Breakthrough Vivee Technology Lauded in Feature Article in New York Times
Monday, December 24 2007 6:28 AM, EST Business Wire "US Press Releases "
CHICAGO --(BUSINESS WIRE)--
USTelematics, Inc. (OTC:UTLM), deploying proprietary technology and market-disruptive products at the forefront of the connected-car revolution, announced today that the Company's proprietary Vivee product line has received favorable coverage in the technology section of the Sunday, December 23, 2007 , edition of The New York Times. The article is the latest validation of the Company's breakthrough product line Vivee(TM), an innovative voice-interactive solution that "speaks" email and text messages.
The article headlined, "For Those Who Text and Drive, You Can Stop Now," provides an overview of newly introduced designed to make driving safer and more efficient through use of voice recognition technologies.
"As hands-free kits have helped ease the distraction problem of cell phones in cars, speech technology is trying to tackle the problem of the written word by reading messages aloud to drivers," said the article. "Another voice system, by USTelematics, offers an application and online service called Vivee (Voice Interactive Voice Enhance E-mail). The software works with Windows Mobile devices, including the Palm Treo, and costs $29.99 . Monthly service is an additional $4.99 ."
"To get Vivee working, the software must be downloaded to a smart phone. Users log into the service, which connects to the Internet over the wireless data network. The female read-back voice of Vivee is much more natural than (Ford) Sync's, and Vivee can also handle e-mail."
USTelematics will introduce its highly anticipated products to the public next month at the 2008 International Consumer Electronics Show (CES). The Company has outlined an aggressive set of sales goals for the CES event, including acceptance of purchase orders and finalization of relationships with a range of retailers, from big box chains to small and mid-size retailers. One of the world's leading venues for the introduction of new and innovative electronics and technology products, the International CES will be held January 7-10 in Las Vegas .
To read the entire article in The New York Times, written by John R. Quain, please visit http://www.nytimes.com/2007/12/23/automobiles/23TALK.html?_ r=2&oref=slogin&oref=slogin. (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
About USTelematics
US Telematics, Inc. ("USTelematics" or the "Company") is engaged in the development and commercialization of next-generation, proprietary technologies to revolutionize the "wired car," delivering high speed data and entertainment content to private and commercial vehicles. The Company is addressing high-growth opportunities in the projected $58 billion global telematics marketplace with proprietary technologies that enable a full range of voice-driven handheld and automotive mobile communications, full internet connectivity and rich infotainment options. With products that provide a full range of next-generation rear seat infotainment, USTelematics is offering an advance over the old DVD-only systems that still represent the current standard in the rear seat entertainment industry.
To learn more, please visit http://www.USTelematics.com.
For investor-specific information and resources, visit http://www.trilogy-capital.com/tcp/utlm.
To view current stock quotes and news, visit
http://www.trilogy-capital.com/tcp/utlm/quote.html.
Forward-Looking Statements
The information herein contains forward-looking statements. All statements other than statements of historical fact made in report are forward-looking. In particular, the statements herein regarding industry prospects and future results of operations or financial position are forward-looking statements. These forward-looking statements can be identified by the use of words such as "believes," "estimates," "could," "possibly," "probably," anticipates," "projects," "expects," "may," "will," or "should" or other variations or similar words. No assurances can be given that the future results anticipated by the forward-looking statements will be achieved. Forward-looking statements reflect management's current expectations and are inherently uncertain. Our actual results may differ significantly from management's expectations.
Source: USTelematics, Inc.
irua (1.01) Bonds.com Group, Inc. Completes $4.35 Million Private Placement and Merges into Public Shell
Friday, December 21 2007 6:42 PM, EST Business Wire "US Press Releases "
BOCA RATON, Fla.--(BUSINESS WIRE)--
Bonds.com Holdings, Inc. ("Bonds.com" or the "Company"), provider of pioneer comprehensive zero subscription fee online platforms in the fixed income marketplace, announced today it completed a reverse merger with IPORUSSIA, Inc. ("IPORUSSIA"), a publicly traded shell company (OTCBB: IRUA).
On November 2, 2007 , Bonds.com completed a private placement of common stock and warrants to certain accredited institutional investors and other high net worth individuals for gross proceeds of $4.35 million . As part of the private placement, Bonds.com issued a total of 1,314,135 shares of Bonds.com common stock at a per share issuance price of $3.31 , along with five-year warrants to purchase an additional 657,111 shares of common stock, exercisable at $4.14 per share.
At the closing of the reverse merger, IPORUSSIA issued to Bonds.com's stockholders 57,542,704 shares of IPORUSSIA common stock, representing approximately 94.4% of the post closing outstanding shares of IPORUSSIA, in exchange for all of Bonds.com's outstanding ordinary shares. Additionally, IPORUSSIA issued warrants to purchase 4,942,264 shares of IPORUSSIA common stock, exercisable at $0.66 per share, in exchange for existing warrants to purchase ordinary shares of Bonds.com. Bonds.com expects to have approximately 60,932,551 shares of common stock outstanding and approximately 67,767,627 shares outstanding on a fully diluted basis.
Keating Securities, LLC acted as exclusive placement agent to Bonds.com in the private placement offering, and Keating Investments, LLC acted as sole financial advisor to IPORUSSIA in the reverse merger. Feldman Weinstein & Smith LLP and David M. Becker of Rele & Becker, LLC acted as legal counsel for the reverse merger.
Shortly after the closing of the reverse merger, IPORUSSIA changed its corporate name to Bonds.com Group, Inc.
"We are extremely pleased with this transaction and very optimistic about our Company's future. The infusion of capital will provide Bonds.com the ability to expand the scale of our already robust inventory and product line and launch a dynamic, multi-media marketing campaign to create maximum fixed income investor awareness," stated John J. Barry, Bonds.com President and CEO. Mr. Barry further stated, "We expect the online trading platform, combined with the tremendous brand value of the domain name www.bonds.com, to help Bonds.com immediately become a leader in the fixed income marketplace."
About Bonds.com Group, Inc.
Bonds.com Group, Inc. (www.bondsfinancial.com) serves institutional and self-directed individual investors by providing a comprehensive zero subscription fee online platform, inventory from a wide selection of competing sources, a user-friendly platform and robust educational materials. With unmatched marketability of the domain name www.bonds.com, commitment to key advertising initiatives and a team of experienced account managers, Bonds.com is poised to redefine the $26.0 trillion fixed income marketplace.
About the Keating Companies
Founded in 1997, Keating Investments, LLC (www.keatinginvestments.com) is the parent company of Keating Securities, LLC , a Denver -based broker-dealer and FINRA member that provides a turnkey solution to private companies going public via reverse merger. After Market Support, LLC is a wholly owned subsidiary of Keating Investments, LLC that provides investor financial marketing services to public companies that have gone public via reverse merger or other alternatives to an IPO.
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements, including statements that include the words "believes," "expects," "anticipates," 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 the Company to differ materially from those expressed or implied by such forward-looking statements. Factors that may affect these forward-looking statements include, among others, our ability to raise capital, the decisions of third parties over which we have no control, the state of the telecommunications industry, technological changes and other factors set forth from time to time in our public statements. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date of this news release.
Source: Bonds.com Group, Inc.
mosh (.22) Mesa Offshore Trust Announces No Trust Income for December 2007
Friday, December 21 2007 4:56 PM, EST Business Wire "US Press Releases "
AUSTIN, Texas --(BUSINESS WIRE)--
Mesa Offshore Trust (OTCBB:MOSH) announced that there will be no Trust income distribution for the month of December 2007 for Unitholders of record on December 31, 2007 .
The Trust did not receive any Royalty income from the Working Interest Owner for the month of December 2007 . As of October 31, 2007 , the Working Interest Owner estimates that the abandonment accrual for amounts expended but not recouped and for projected future abandonment expenses for the properties in which the Trust has an interest is approximately $1.4 million net to the Trust. These costs will be deducted from any future gross proceeds on the Royalty properties, which deductions will reduce future Royalty income. In addition, no Royalty income will be distributed to Unitholders until JPMorgan Chase Bank, N.A ., in its capacity as Trustee (the "Trustee"), recoups Trust expenses being paid from the reserve that the Trustee has established for anticipated future expenses. As of September 30, 2007 , approximately $3.5 million will be withheld by the Trustee from future Royalty income before Trust distributions to the Unitholders will resume. Trust expenditures for the month of December 2007 will be approximately $69,000 . Trust expenditures in excess of royalty income received have depleted the Trust's reserve for Trust expenses to approximately $3,000 . On December 3, 2007 , the Trust entered into an Amended and Restated Promissory Note with JPMorgan Chase Bank, N.A . as lender (the "Lender"), which amended the Demand Promissory Note (the "Demand Note") dated September 28, 2007 , relating to demand loans that may be advanced by the Lender from time to time in the principal amount of up to $3 million . The demand loans will bear interest at the prime rate plus 2%, provided such rate shall in no event exceed the maximum legal rate of interest permitted by applicable law. As of December 11, 2007 , approximately $1,628,000 had been advanced to the Trustee for Trust expenses under this demand note and the Trust had unpaid expenses of approximately $173,000 .
The extent of future distributions from the properties in which the Trust has an interest will continue to be dependent on normal factors associated with oil and gas operations such as oil and gas production levels, prices and associated cost, accruals for future abandonment costs, timing and extent of capital expenditures.
Source: Mesa Offshore Trust
I remember the whole issue of the invalidly issued shares (about 500 mil or so), but they decided to drop the lawsuit because it was getting costly and thus they made the illegitimate valid so they can go forward with the RS and name change. It was in the 10Q filing they did last week:
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5597221
It is still on my radar though. glty
only 3 trades on BCIT but interesting action. I noticed last week they got their filings up to date. Looks like they want to come off the greys. The only thing that scares me is the 1 billion OS and they're going to do an RS.
qmrk (.64) Qualmark Corporation Strengthens Balance Sheet Through Capital Raise
Friday, December 21 2007 3:47 PM, EST Market Wire "US Press Releases "
DENVER, CO -- (MARKET WIRE) -- 12/21/07 -- Qualmark Corporation (OTCBB: QMRK), a world leader in designing, manufacturing and marketing HALT (Highly Accelerated Life Testing), HASS (Highly Accelerated Stress Screening) and electrodynamic systems, announced today that the Company has raised $600,000 in new capital, in a private placement of 781,250 shares of common stock and warrants. The offering was placed with The Roser Partnership III, SBIC, LP and affiliates.
"We are pleased with the confidence shown by The Roser Partnership's continued investment in Qualmark," stated Andy Drenick, the Company's President and CEO. "We continue to see significant opportunities throughout the marketplace. This funding should provide us with the additional capability to further expand our sales and marketing efforts."
Commenting on the investment, Christopher Roser, Manager of the General Partner of The Roser Partnership III, SBIC LP said, "We believe Qualmark's HALT, HASS and electrodynamic systems are second to none and want to support the Company in the execution of their business plan. We welcome Andy Drenick to the Company and regard this investment into the Company as added support for Andy's plans to expand and grow Qualmark."
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Qualmark Corporation , headquartered in Denver, Colorado is the leader in designing, marketing, and manufacturing accelerated life-testing systems (HALT and HASS) providing the world's largest corporations with solutions that improve product reliability and allow them to get to market faster. The Company has installed more than 600 of its proprietary testing systems in 30 countries. The Company operates and partners with ten testing facilities worldwide.
The Company also offers electrodynamic vibration solutions through its subsidiary, Ling Electronics.
Ling Electronics, headquartered in West Haven, Connecticut is the leader in supplying electrodynamic systems, components, and service to the worldwide vibration test equipment market.
The statements included in this press release concerning predictions of economic performance and management's plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Company's Securities and Exchange Commission filings; downturns in the Company's primary markets; variability of order flow, future economic conditions; competitive products and pricing; new product development; disruptions in the Company's operations from acts of God or extended maintenance; transportation difficulties; or the delivery of product under existing contracts and other factors.
Contact:
Qualmark Corporation
Anthony Scalese
CFO
303-254-8800
www.qualmark.com
Investor Relations
Andrew Barwicki
516-662-9461
nice info
TPPH (.3898) Tapestry Receives Notice Regarding Minimum Bid Price Rule
Friday, December 21 2007 3:35 PM, EST PR Newswire "US Press Releases "
BOULDER, Colo ., Dec. 21 /PRNewswire-FirstCall/ -- Tapestry Pharmaceuticals, Inc. (Nasdaq: TPPH) today announced that it received notice on December 18, 2007 from the Nasdaq Stock Market that the minimum bid price of its common stock had fallen below $1.00 for 30 consecutive business days and that Tapestry was therefore not in compliance with Marketplace Rule 4310(c)(4). In accordance with the Nasdaq Marketplace Rule 4310(c)(8)(D), Tapestry has until June 16, 2008 , which is 180 calendar days from December 18, 2007 , to regain compliance. This notification does not have immediate affect on the listing of the Company's common stock.
Tapestry can regain compliance with the minimum bid price rule if the bid price of its common stock closes at $1.00 or higher for a minimum of ten consecutive business days during the initial 180-day period, although Nasdaq may, in its discretion, require Tapestry to maintain a bid price of at least $1.00 per share for a period in excess of ten consecutive business days (but generally no more than 20 consecutive business days) before determining that Tapestry has demonstrated the ability to maintain long-term compliance. If compliance is not achieved by June 16, 2008 , Tapestry will be eligible for an additional 180-day compliance period if it meets the Nasdaq Capital Market initial listing criteria as set forth in Marketplace Rule 4310(c) other than the minimum bid price requirement. If Tapestry is not eligible for an additional compliance period, or does not regain compliance during any additional compliance period, Nasdaq will provide written notice to Tapestry that its securities will be delisted. At such time, Tapestry would be able to appeal the delisting determination to a Nasdaq Listing Qualifications Panel. There can be no assurance that Tapestry will be able to regain compliance with the Nasdaq listing requirements or that its securities will not be delisted from the Nasdaq Capital Market on a basis other than failure to maintain a minimum bid price.
About Tapestry Pharmaceuticals, Inc.
Tapestry Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development of proprietary therapies for the treatment of cancer. Tapestry's lead candidate, TPI 287 is in multiple Phase 2 clinical studies at this time.
For more information about Tapestry and its technologies, visit Tapestry's website at http://www.tapestrypharma.com.
Contact: Tapestry Pharmaceuticals, Inc.
Gordon Link
Senior Vice President, Chief Financial Officer
303-516-8500
glink@tapestrypharma.com
Investor: Lilian Stern
Stern Investor Relations, Inc.
212-362-1200
lilian@sternir.com
Media: Dana Conti
Schwartz Communications
781-684-0770
tapestry@schwartz-pr.com
SOURCE Tapestry Pharmaceuticals, Inc.
tlle (.2) Teletouch - Hawk Electronics Div. Announces Winner of Mobile Mom Makeover
Friday, December 21 2007 3:31 PM, EST Business Wire "US Press Releases "
FORT WORTH, Texas --(BUSINESS WIRE)--
Moms are always on the go - whether they are picking up the kids from school or running errands for the day. With so many things to do in a day they can't be expected to keep track of everything. The latest mobile technology can help moms find directions, keep kids occupied and return phone calls.
In November 2007 , Hawk Electronics, the retail division of Teletouch Communications, Inc. (Pink Sheets: TLLE), held the "Mobile Mom Makeover Contest" asking people to enter a mom who deserved to win all of the latest electronics for her car. Dru McCready, of Coppell, Texas , entered his wife, Cindi, in the contest, noting: "My wife is the super mom of 'super moms.'...I don't know how we would function without her."
Cindi is a mother of four and drives them all around the Dallas-Ft. Worth Metroplex to band, work and soccer practice, to name just a few places. When she's not with the kids, she's volunteering at the local school or working at home. Hawk Electronics selected and installed four new gadgets in Cindi's car to make her hectic lifestyle a little bit simpler as she travels around town.
"The devices we selected for the Mobile Mom Makeover contest were specially chosen to help Cindi get from place to place, entertain the kids and relieve the stress that virtually all moms face today with such busy lifestyles," said Hawk's technology expert, Bradi Van Noy-Hays. "As a mom on the go, I have these gadgets in my SUV. These mobile enhancements have improved the time spent in the car and made me a safer driver. We hope these same mobile electronics will make a real difference to this family that is always on the go."
Hawk's Mobile Mom Makeover includes: (contest details and product pictures available at - Gadget Girl)
-- Custom Myron & Davis DVD & Game Player Headrests - This
all-in-one Myron & Davis Player and Monitor is a
custom-mounted DVD and games player system installed directly
into the headrests. Kids are entertained not only on long road
trips, but also while mom is stuck in traffic in the city.
-- Parrot Hands-free Bluetooth Kit - The safest way to drive,
especially when kids are in the car, is with hands on the
wheel and eyes on the road. The Bluetooth(R) cellular
hands-free car kit allows moms to be safe while driving and
taking phone calls. This is also great for recent laws passed
about limiting cell phone use in the Park Cities area. Easy to
use, hands-free keeps moms from juggling too many tasks while
she's trying to drive.
-- BOYO Back-up Camera - Moms can now see everything behind them
using this innovative license plate camera. By mounting the
camera monitor by the rear view mirror on the windshield,
drivers can safely back out of the garage or parking spot --
checking for pets, toys or children behind the vehicle - every
parent's worst nightmare. Plus, the rear camera makes parallel
parking a breeze.
-- Code Alarm Remote Start - This very small remote device
attaches to the factory keyless entry remote (key fob) for any
car. Kids love this because moms can start the car before they
head out to run errands to cool the car during our hot Texas
summers, or heat it up in the cool winter months.
Hawk Electronics is regarded as the top independent retailer of wireless and mobile electronics in the Dallas-Fort Worth area, with more than 20 company-owned and agent retail locations throughout the Metroplex. For nearly 35 years, Hawk is the brand name consumers' trust to handle all of their wireless and mobile electronics needs -- from cutting edge smart phones to traditional car stereo upgrades and accessories, Bluetooth cellular hands-free car kit installations, XM and Sirius satellite radio and mobile television.
For store locations and more information, please visit www.hawkelectronics.com.
About Teletouch Communications
For more than 40 years, Teletouch has offered a comprehensive suite of telecommunications products and services including cellular, two-way radio, GPS-telemetry and wireless messaging products and services throughout the U.S. Teletouch's wholly-owned subsidiary, Progressive Concepts, Inc. (PCI), is a leading provider of AT&T cellular services (voice, data, entertainment), as well as other mobile, portable and personal electronics products and services to individuals, businesses and government agencies. PCI operates a chain of retail stores and sells under the "Hawk Electronics" brand; Hawk-branded sub-agents; a direct sales force in Texas and Arkansas , and through the Internet at http://www.hawkelectronics.com and other sites. PCI also operates a national wholesale distribution business, PCI Marketing (PCIM) that serves smaller cellular and automotive retailers, car dealers and rural cellular carriers throughout the country. Teletouch's common stock is traded Over-The-Counter on the Pink Sheets electronic exchange under stock symbol: TLLE. Additional information about Teletouch can be found at http://www.teletouch.com.
All statements in this news release that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Forward-looking statements may address the Company's expected future business or financial performance, and future reporting of historic operating results the accounting for which has not been completed. Forward-looking statements often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," or "will." While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of our control, that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth under the caption "Additional Factors That May Affect Our Business" in the Company's most recent Form 10-K and 10-Q filings, and amendments thereto. In addition, we operate in a highly competitive and rapidly changing environment, and new risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. We disclaim any intention to, and undertake no obligation to, update or revise any forward-looking statement.
Source: Hawk Electronics
SSWM .005 gone, .0045x.0053
gvgdf (.56) Grandview Gold Inc. Announces Private Placement
Friday, December 21 2007 3:21 PM, EST CCNMatthews "Canadian Press Releases "
TORONTO, ONTARIO --(Marketwire - Dec. 21, 2007 ) - Grandview Gold Inc. ("Grandview") (TSX:GVX)(OTCBB:GVGDF) is pleased to announce that it has closed the brokered private placement (the "Brokered Placement") with Bolder Investment Partners, Ltd. (the "Agent") previously announced on November 23, 2007 . The Brokered Placement resulted in the issuance by Grandview of a total of (i) 1,312,000 units in the capital of Grandview (the "Units") at a purchase price of $0.55 (CAD) per Unit for gross proceeds of $721,600 ; and (ii) 605,000 flow-through shares (the "Flow-Through Shares") at a purchase price of $0.65 (CAD) per Unit for gross proceeds of $393,250 under the Brokered Placement. Each Unit consists of one common share of Grandview and one-half of one common share purchase warrant ("Warrant"). Each whole Warrant is exercisable to acquire one further common share of Grandview at a price of $0.70 (CAD) for a period of 24 months from closing.
In connection with the Brokered Placement, Grandview paid a cash fee to the Agent of 8% of the gross proceeds raised under the Brokered Placement and also issued broker options to acquire 8% of the total number of Units issued under the Brokered Placement at a price of $0.60 per Unit for a period of 24 months from closing.
The proceeds from this financing will be used primarily to supplement Grandview's exploration program, namely the 2008 drilling program on its Pony Creek/Elliott Dome property in Nevada , and also its Red Lake projects in Ontario and Rice Lake projects in Manitoba , as well as working capital and general corporate purposes.
This is not an offer for sale, or a solicitation of an offer to buy, in the United States or to any US Person (as defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act")) of any equity shares or any other securities of Grandview Gold Inc. Securities ("securities") of Grandview Gold Inc. are traded on the Toronto Stock Exchange (TSX) and on the OTC BB. This does not constitute, and should not be construed as, "general solicitation or general advertising" as defined under Regulation D of the Securities Act, or "directed selling efforts" under Regulation S of the Securities Act.
FOR FURTHER INFORMATION PLEASE CONTACT:
Grandview Gold Inc.
Paul Sarjeant
President and CEO
(416) 486-3444
Website: www.grandviewgold.com
Source: Grandview Gold Inc.
SIRI (3.19) SIRIUS Satellite Radio Announces Its Top Ten Music Events of 2007
Friday, December 21 2007 3:20 PM, EST PR Newswire "US Press Releases "
NEW YORK , Dec. 21 /PRNewswire-FirstCall/ -- SIRIUS Satellite Radio (Nasdaq: SIRI) announced today its top ten music events for 2007. SIRIUS reaffirmed its leadership in radio programming with its stellar line-up of exclusive artist-branded and produced channels, live broadcasts from historic music events, and live performances at SIRIUS' Rockefeller Center studios.
(Logo: http://www.newscom.com/cgi-bin/prnh/19991118/NYTH125 )
In no particular order, here are the Top Ten SIRIUS music events of 2007:
* SIRIUS launched the Grateful Dead Channel, a 24-hour commercial free
channel dedicated to the music and legacy of the Grateful Dead. The
channel features exclusive, rare performances and original shows hosted
by Grateful Dead members and special archival interviews with the late
Jerry Garcia.
* Siriusly Sinatra, produced by SIRIUS and the Sinatra family, launched as
a one-of-a-kind channel with music spanning the entire spectrum of Frank
Sinatra's career. The channel also features exclusive rare archival
interviews, performances and the music of other artists from the big
band, swing and traditional pop genres.
* SIRIUS' popular E Street Radio channel re-launched this year in support
of Magic, Bruce Springsteen's first album recorded with the E Street
Band since 2002. Listeners of E Street Radio can hear rare recordings
of performances, exclusive interviews, celebrity guest DJs and the music
of Bruce Springsteen and the E Street Band .
* SIRIUS announced in 2007 that it had re-signed legendary radio
personality Bruce Morrow, known to his legion of fans as 'Cousin
Brucie,' to an exclusive multi-year deal. The deal demonstrated SIRIUS'
ongoing commitment to playing Oldies music from the 50s and 60s. SIRIUS
remains the only radio outlet on which listeners can hear 'Cousin
Brucie.'
* In 2007, Little Steven Van Zandt, founder and architect of the
Underground Garage SIRIUS channel 25, launched The Little Steven
Sessions. The show airs three times daily and features Little Steven
discussing the music, history, philosophy, and life style that is the
Underground Garage.
* SIRIUS turned one of its channels over to country music star Garth
Brooks for two weeks in celebration of the release of his 3-disc
greatest hits CD set. Garth Brooks Radio featured music selected and
presented by Garth Brooks.
* JAY-Z Nation launched in November to coincide with the release of JAY-
Z's album, American Gangster. The channel dedicated to, and produced by
JAY-Z, featured exclusive interviews, special programming and live
concert playback from JAY-Z's five city tour.
* SIRIUS, the exclusive home of Jimmy Buffett's Radio Margaritaville
channel, broadcast every live performance from Jimmy Buffett's 2007
"Bama Breeze" tour.
* Multi-platinum artist 50 Cent performed live in front of SIRIUS
subscribers at the company's studios in New York's Rockefeller Center.
The show aired live on G-Unit Radio, a weekly all-day broadcast produced
by 50 Cent on SIRIUS' Shade 45 channel.
* SIRIUS broadcast an exclusive in-depth interview with one of rocks
living legends, Keith Richards. The rare interview was conducted by
Steve Jordon, Keith's friend and bandmate from X-pensive Winos.
Other 2007 highlights include:
Exclusive, New Music Programming & Specials:
* SIRIUS added to their acclaimed roster of celebrity hosts with the
launch of several new shows. Siriusly Sinatra launched Nancy For Frank,
a weekly show hosted by Nancy Sinatra. The channel also premiered The
Chairman's Hour, an innovative weekly program 'hosted' by Frank Sinatra
using rare materials unearthed from the Sinatra family archives.
Country music renegade Steve Earle joined SIRIUS with his weekly show
The Steve Earle Show: Hardcore Troubadour Radio on Outlaw Country. Rock
icon Joan Jett joined Tony Hawke's Faction Radio channel hosting Joan
Jett's Radio Revolution.
* British pop icons, Duran Duran, took control of SIRIUS' Super Shuffle
channel for a week in celebration of the band's latest album, Red Carpet
Massacre. The channel, Red Carpet Radio, featured the exclusive
premiere of Red Carpet Massacre with track-by-track discussion and
several shows hosted by the members of the band.
* In 2007, SIRIUS provided exclusive behind-the-scenes coverage of some of
the biggest music events across all genres, including the MTV Video
Music Awards, Country Music Awards, Tony Awards, Grammy Awards, Live
Earth, Lollapalooza, Vans Warped Tour, Ozzfest, X-Games and
International Bluegrass Music Association World of Bluegrass Festival,
among many others.
* SIRIUS continued to celebrate the diversity and heritage of music with
exclusive programming on various channels throughout the month of June
for Black Music Month, and in September, Hispanic Heritage Month.
* In 2007, SIRIUS celebrated the independent spirit of music with the
launch of Hits-Bound on Sirius Hits 1, a weekly program that provides an
outlet for the best unsigned, indie, international and homemade music.
* SIRIUS' Coffee House channel debuted Coffee House Live, featuring live
performances from some of today's greatest singer-songwriters, including
Sheryl Crow, David Gray, Lyle Lovett, Feist, Jose Gonzalez, Paula Cole,
Ryan Adams and many more.
2007 Exclusive Music Performances:
SIRIUS continued their exclusive concert events in 2007 with live performances in their Rockefeller Center studios in New York City from artists that included 50 Cent , Maroon 5, Alicia Keys, Patti Scialfa, Gretchen Wilson, Lyle Lovett, KT Tunstall, David Gray, Queens of the Stone Age, Steve Earle, Plain White T's, Ryan Adams, Wyclef Jean, LeAnn Rimes, Natasha Bedingfield, Little Big Town, Rufus Wainwright, Erasure, Chris Cornell, Sinead O'Connor, and Sheryl Crow among many others.
Exclusive Music Previews/Premieres:
In 2007, SIRIUS continued their tradition of providing listeners with exclusive album premieres and previews with track-by-track discussions from artists which included Bruce Springsteen, JAY-Z, Genesis, Robert Plant and Alison Krauss, Faith Hill, Smashing Pumpkins, Reba McEntire, LeAnn Rimes, Amy Grant, Dave Gahan of Depeche Mode, Chemical Brothers, R Kelly, Emmylou Harris, Mick Jagger, Radiohead, Annie Lennox, Garth Brooks, Trisha Yearwood, Matchbox 20 and many others.
SIRIUS will continue to provide exclusive music programming with artist branded channels, interviews, performances and commercial free music in 2008. For more information please visit www.sirius.com.
About SIRIUS
SIRIUS, "The Best Radio on Radio," delivers more than 130 channels of the best programming in all of radio. SIRIUS is the original and only home of 100% commercial free music channels in satellite radio, offering 69 music channels. SIRIUS also delivers 65 channels of sports, news, talk, entertainment, traffic, weather and data. SIRIUS is the Official Satellite Radio Partner of the NFL, NASCAR and NBA, and broadcasts live play-by-play games of the NFL and NBA, as well as live NASCAR races. All SIRIUS programming is available for a monthly subscription fee of only $12.95 .
SIRIUS Internet Radio (SIR) is a CD-quality, Internet-only version of the SIRIUS radio service, without the use of a radio, for the monthly subscription fee of $12.95 . SIR delivers more than 80 channels of talk, entertainment, sports, and 100% commercial free music.
SIRIUS Backseat TV(TM) is the first ever live in-vehicle rear seat entertainment featuring three channels of children's TV programming, including Nickelodeon, Disney Channel and Cartoon Network, for the subscription fee of $6.99 plus applicable audio subscription fee.
SIRIUS products for the car, truck, home, RV and boat are available in more than 20,000 retail locations, including Best Buy, Circuit City, Crutchfield, Costco, Target, Wal-Mart, Sam's Club, RadioShack and at shop.sirius.com.
SIRIUS radios are offered in vehicles from Audi, Bentley, BMW, Chrysler, Dodge, Ford, Infiniti, Jaguar, Jeep(R), Land Rover, Lexus, Lincoln , Mercury, Maybach, Mazda, Mercedes-Benz, MINI, Mitsubishi, Nissan, Rolls Royce, Scion, Toyota, Volkswagen, and Volvo. Hertz also offers SIRIUS in its rental cars at major locations around the country.
Click on www.sirius.com to listen to SIRIUS live, or to purchase a SIRIUS radio and subscription.
Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions, future events or performance with respect to SIRIUS Satellite Radio Inc. are not historical facts and may be forward-looking and, accordingly, such statements involve estimates, assumptions and uncertainties which could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, any such statements are qualified in their entirety by reference to the factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2006 filed with the Securities and Exchange Commission . Among the significant factors that could cause our actual results to differ materially from those expressed are: our pending merger with XM Satellite Radio Holdings, Inc. ("XM"), including related uncertainties and risks and the impact on our business if the merger is not completed; any events which affect the useful life of our satellites; our dependence upon third parties, including manufacturers of SIRIUS radios, retailers, automakers and programming providers; and our competitive position versus other audio entertainment providers.
P-SIRI
MEDIA CONTACT:
Neel Khairzada
SIRIUS
212-584-5243
nkhairzada@siriusradio.com
SOURCE SIRIUS Satellite Radio
HISU .014, up 40%, watch the spread though
IFDG .006, up 20%, delayed reaction on the news
SSWM .005, up 194%
AVII (1.38) AVI BioPharma Announces Commencement of Dosing in Clinical Trial for Duchenne Muscular Dystrophy
Friday, December 21 2007 3:06 PM, EST Business Wire "US Press Releases "
PORTLAND, Ore .--(BUSINESS WIRE)--
AVI BioPharma, Inc. (Nasdaq:AVII), today announced dosing of the first patient in a proof-of-principle clinical trial using AVI-4658, AVI's lead drug candidate for Duchenne muscular dystrophy (DMD), based on the company's proprietary ESPRIT (Exon Skipping Pre-RNA Interference Technology) drug platform.
AVI-4658 is designed to skip exon 51 of the dystrophin gene, and thus benefit DMD patients with certain types of mutations that impair the function of dystrophin, a key protein in muscle cells. The trial is being conducted by research teams at the Imperial College London, in collaboration with the United Kingdom -based MDEX Consortium.
The trial will include up to nine boys with DMD, each of whom will receive a single intramuscular (IM) administration of the drug. Two to three weeks following the injection, the muscle will be biopsied and examined for molecular evidence of corrected dystrophin production. Preclinical studies have demonstrated that AVI-4658 restores proper RNA reading frame and production of dystrophin in cells from patients with certain types of deletions in the gene that codes for dystrophin production. This trial will be the first to assess the drug's effect in patients.
The principal investigator for the U.K. study is Professor Francesco Muntoni, Department of Paediatrics , Hammersmith Hospital Campus, Imperial College , London . The coordinating investigator of the project is Professor Dominic Wells, M.A., VetMB, Ph.D., MRCVS, Department of Cellular and Molecular Neuroscience , Imperial College Faculty of Medicine. Imperial College will serve as the sponsor for the trial, with AVI BioPharma serving as its clinical development collaborator.
"We are pleased that this clinical trial in DMD is now moving forward. We are simultaneously moving toward initiating clinical trials evaluating longer-term systemic administration of AVI-4658," said K. Michael Forrest, interim chief executive officer of AVI.
AVI recently announced it has received a translational research grant of $2.45 million from Charley's Fund to support the selection and development of a lead molecule designed to skip exon 50 and restore production of functional dystrophin. This therapeutic approach is similar to that of AVI-4658, but targets patients with a different set of mutations.
In addition, in November, AVI announced that the U.S. Food and Drug Administration (FDA) granted orphan drug designation for AVI-4658 for treatment of DMD. Earlier this month, the FDA also granted Fast Track status to the same product candidate.
In parallel with the U.K. study, AVI is moving toward initiating clinical trials evaluating longer-term systemic administration of AVI-4658. AVI's DMD research and development programs are being conducted in conjunction with the company's DMD cross-licensing and development partner, Ercole Biotech Inc.
About ESPRIT Technology
In normal genetic function, gene transcription produces a full-length pre-RNA that is then processed to a much shorter and functional messenger RNA. The mRNA is the template for creating a protein. During pre-RNA processing, packets of useful genetic information, called exons, are snipped out of the full-length RNA and spliced together to make the functional mRNA template. AVI's proprietary third-generation NEUGENE(R) chemistry can be used to target splice-joining sites in the pre-RNA, thus forcing the cell machinery to skip over targeted exons, providing altered mRNA, which in turn produces altered proteins. In some diseases, such as DMD, skipping an exon can restore a proper RNA reading frame and restore at least partial function of the protein to overcome the devastating clinical consequences of the mutation.
About Duchenne Muscular Dystrophy
DMD is the most common fatal genetic disorder to affect children around the world. It is a devastating and incurable muscle-wasting disease associated with specific inborn errors in the gene that expresses dystrophin, a protein that is an essential component for striated muscle function. When dystrophin is missing or nonfunctional due to a mutation in coding of the dystrophin gene, as it is in DMD, the result is membrane leakage and fiber damage, ultimately leading to degeneration and death of the muscle fiber. There is no cure or effective treatment for DMD. Approximately one in 3,500 boys is born with DMD, and an estimated 15,000 to 20,000 children are afflicted in the United States alone.
About AVI BioPharma
AVI BioPharma develops therapeutic products for the treatment of life-threatening diseases using third-generation NeuGene antisense drugs and ESPRIT exon skipping technology. AVI's ESPRIT technology is initially being applied to potential treatments for Duchenne muscular dystrophy. AVI's NeuGene compounds are also designed to treat cardiovascular restenosis, and aid in Coronary Artery Bypass Graft (CABG) procedures. In addition to targeting specific genes in the body, AVI's antiviral program uses NeuGene antisense compounds to combat disease by targeting single-stranded RNA viruses, including Marburg virus, Ebola Zaire virus, and H5N1 avian influenza virus. More information about AVI is available on the company's Web site at www.avibio.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including, but not limited to, the results of research and development efforts, the results of preclinical and clinical testing, the effect of regulation by the FDA and other agencies, the impact of competitive products, product development, commercialization and technological difficulties, and other risks detailed in the company's Securities and Exchange Commission filings.
Source: AVI BioPharma, Inc.
NICH (1.9901) Nitches, Inc. Announces Fiscal Results for 2007
Friday, December 21 2007 3:06 PM, EST Market Wire "US Press Releases "
SAN DIEGO, CA -- (MARKET WIRE) -- 12/21/07 -- Nitches, Inc. (NASDAQ: NICH) announced today its results for the year ended August 31, 2007 . Highlights included:
-- Net sales for the year increased 55% to $84.9 million from prior year
$54.8 million
-- Strong financial position attributable to $4.5 million in capital
raised during the year
-- Backlog as of November 30, 2007 of $36.3 million versus $26.4 million
the prior year
Consolidated net sales for fiscal 2007 grew 55% to $84.9 million versus $54.8 million for 2006. The increase was driven by organic sales growth in the Company's women's sleepwear and men's and women's sportswear product lines, as well as the inclusion of home décor results for the full fiscal year.
As of November 30, 2007 the Company had received orders for shipment through April 2008 of $36.3 million , representing a 38% increase over the prior year. At this time last year the Company had order backlog for the comparable period of $26.4 million . The increase is due to organic growth across the Company's sleepwear, sportswear and home décor product lines.
The Company reported a loss of $936,000 for fiscal year 2007, in comparison to net income of $468,000 in the year earlier period. Full year loss per weighted average share was $.18 in 2007 versus income of $.11 per share earned for fiscal 2006. Per share amounts for both years reflect a 200% stock dividend issued on January 20, 2006 which had the effect of a 3-for-1 stock split. Per share amounts also reflect the weighted average effects of shares issued in conjunction with the acquisitions of Designer Intimates, the home décor product line of Taresha LLC, and Saguaro LLC.
Commenting on company performance, Chairman and CEO Steve Wyandt noted, "We are not pleased with the losses reported for the 4th quarter and fiscal year. In addition to disappointing gross margin performance, expenses during the year were negatively impacted by noncash amortization and stock compensation charges totaling $660,000 , as well as an inventory write-off in the fourth quarter of $317,000 related to a discontinued product line."
Regarding the current fiscal year, Mr. Wyandt remarked, "We remain cautious for the current fiscal year in light of the weakening economy and the downward pressure that may continue to exert on our gross margins. Yet we are encouraged by our improved order backlog as we enter a period of traditionally lower seasonal sales volume for us."
Three Months Ended Fiscal Year Ended
August 31, August 31,
2007 2006 2007 2006
------------ ------------ ------------ -------------
Net sales $ 15,773,000 $ 15,223,000 $ 84,943,000 $ 54,832,000
Net income (loss) (1,191,000) (130,000) (936,000) 468,000
Earnings (loss) per
share:
Basic $ (0.21) $ (0.03) $ (0.18) $ 0.11
Diluted $ (0.21) $ (0.03) $ (0.18) $ 0.11
Weighted average
shares
outstanding:
Basic 5,659,644 4,457,855 5,311,035 4,077,014
Diluted 5,659,644 4,457,855 5,311,035 4,077,014
Nitches, Inc. has been designing and marketing quality apparel for niche markets since 1971. The Company markets sleepwear, robes, loungewear, and daywear under the following brands: Gossard®, Derek Rose®, Princesse tam tam®, Crabtree & Evelyn®, Anne Lewin®, Dockers® and Claire Murray®. The Company produces women's western wear and outerwear by Adobe Rose®, Saguaro® and Southwest Canyon®. The Company's menswear offerings include Nat Nast®, Dockers® and Newport Blue® swimwear and graphic t-shirts, The Skins Game golf apparel ®,and ZOIC® performance cycling apparel. The Company also distributes candles and home accessories under the Bill Blass® Home Décor brand. The Company's products are sold to better department stores, specialty boutiques, moderate department stores, and national and regional discount department stores and chains. Additionally, the Company develops and manufactures private label products for many leading retailers and multi-channel marketers.
The Company is headquartered in San Diego, California with offices in New York City , Los Angeles , Dallas , and Hong Kong . The Company's shares are traded on the NASDAQ Capital Market under the symbol NICH. Visit our web site at http://www.nitches.com.
Backlog amounts include both confirmed orders and unconfirmed orders that the Company believes, based on industry practice and past experience, will be confirmed. While cancellations, rejections and returns have generally not been material in the past, there can be no assurance that such action by customers will not reduce the amount of sales realized from the backlog of orders at a given point in time. The amount of unfilled orders at any given time is affected by a number of factors, including the timing of the receipt and processing of customer orders and the scheduling of the manufacture and shipping of the product, which may be dependent on customer requirements.
Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from forecasted results. Those risks include a softening of retailer or consumer acceptance of the Company's products, pricing pressures and other competitive factors, or the unanticipated loss of a major customer. The Company's results may also differ materially from period to period due to the seasonal nature of the Company's product lines. Such seasonal differences may be further impacted by the Company's acquisitions of Designer Intimates and the Home Décor product line. These and other risks are more fully described in the Company's filings with the Securities and Exchange Commission.
Contact:
Steve Wyandt
Web: http:// www.nitches.com
E-mail: Email Contact
Phone: (858) 625-2633 (Option # 1: Corporate)
nice
SSWM .004, up 135%
PMID (1.91) 'Get Snowed In' 2007 Party Attracts More Than 3,400 Pyramid Fans, Raises $5K for Snowrider Foundation
Friday, December 21 2007 3:02 PM, EST Business Wire "US Press Releases "
SEATTLE --(BUSINESS WIRE)--
Pyramid Breweries Inc. (NASDAQ:PMID) today announced more than 3,400 Pyramid fans showed up to celebrate the 21st birthday of Snow Cap Ale at the Company's 2007 'Get Snowed In' party in Seattle in November. Pyramid is presenting a check for $5,000 raised at the party to the Seattle chapter of the Snowrider Foundation , with funds going directly to help with the clean up of Summit at Snoqualmie at the end of the 2008 ski season.
"In the spirit of the holidays and keeping with our commitment to being a positive part of the communities in which we do business, Pyramid is giving part of the proceeds from 'Get Snowed In' 2007 to the Seattle Snowrider Foundation ," said Scott Barnum, Pyramid's CEO. "We are delighted so many Pyramid drinkers could attend the party and thankful to all of our sponsors, the bands and supporters who contributed to making it a huge success."
The Presidents of the United States of America and Dandy Warhols performed at the two-night 'Get Snowed In' party. Sponsors for the 2007 Pyramid 'Get Snowed In' party included: K2 (presenting sponsor), Crystal Mountain, Summit @ Snoqualmie, Borderline, Casual Industrees, EVO gear, Horizon Airlines , Monkey Rides, POW Gloves, Snowboard Connection, The End.
About Pyramid Breweries Inc.
Pyramid Breweries Inc. is a leading brewer of specialty, full-flavored beers produced under the Pyramid and MacTarnahan's brand names. Pyramid's family of unfiltered wheat beers continue to be honored by beer drinkers and judges, earning the most craft beer medals in the last decade at the prestigious Great American Beer Festival (GABF). Since its beginning, Pyramid beers have received a total of 34 medals at the GABF. The brewery has also received a total of 9 medals in international competition at the World Beer Cup.
The Company owns two alehouse restaurants adjacent to its full-production breweries under the Pyramid Alehouse and MacTarnahan Taproom brand names in Berkeley, California , and Portland, Oregon , respectively, and three alehouse restaurants in Walnut Creek and Sacramento, California , and Seattle, Washington . More information about Pyramid Breweries is available at www.pyramidbrew.com.
Source: Pyramid Breweries Inc.
wow... i blinked for a bit and then saw it up
hybt (.61) Hybrid Technologies, Inc. Announces Action Taken at Annual Stockholders Meeting
Friday, December 21 2007 2:56 PM, EST Market Wire "US Press Releases "
LAS VEGAS, NEVADA -- (MARKET WIRE) -- 12/21/07 -- Hybrid Technologies, Inc. (OTCBB: HYBT) (www.hybridtechnologies.com), emerging leaders in the development and marketing of lithium-powered products worldwide, at the annual meeting of stockholders held on Friday, December 21, 2007 , the stockholders of Hybrid Technologies, Inc. approved the following matters which have been previously approved by Hybrid's Board of Directors:
1. Election of Directors and Authorized Share Increase - Stockholders have elected our current four directors for additional one-year terms and approved an increase in the number of shares of our authorized common stock from 50,000,000 to 250,000,000. A motion approved by a majority of stockholders also recommended to the Board to implement a one-for-seven reverse split of our common stock.
2. Reverse Split - Our Board of Directors, at the annual meeting of the Board, acting on the recommendation of a majority of our stockholders, has approved a 1:7 reverse split, to be effective early in 2008 when processed by the NASD. The reverse split approved by the Board will also reduce our newly authorized number of shares of common stock from 250,000,000 to 35,714,285.
About Hybrid Technologies
www.hybridtechnologies.com
Forward-Looking Statement
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
Contacts:
Hybrid Technologies, Inc.
Media Contact
1-888-HYBTECH (1-888-492-8324)
Website: www.hybridtechnologies.com
afao .0011, moving on the news
MECA 1.12, moving on the news
afao (.001) BUYINS.NET Identifies Short Selling of 40 Million Shares of AFA Music Group Stock With Average Squeeze Trigger Price of $0.0017
Friday, December 21 2007 2:46 PM, EST Market Wire "US Press Releases "
WHITE PLAINS, NY -- (MARKET WIRE) -- 12/21/07 -- AFA Music Group, Ltd. (PINKSHEETS: AFAO) wishes to inform its shareholders and the public that BUYINS.NET has determined that the total aggregate number of AFAO shares shorted from September, 2006 to December, 2007 is approximately 40 million, with a squeeze trigger price of $0.0017 .
The SqueezeTrigger price is the volume-weighted average short price of all short selling in AFAO over that period. To access SqueezeTrigger prices ahead of potential short squeezes, visit www.buyins.net. This information is valuable in determining the precise point at which short sellers go out-of-the-money and start losing on their short and naked short trades.
"Short selling continues to be a burden on the investment community and takes millions of dollars out of the pockets of investors. It also restricts the ability of small cap companies to raise capital for their operations and interferes with investors' and brokers' ability to determine the accurate share price. Unfortunately, numerous institutions continue to exploit ways to take advantage of countless public companies," stated Jon Goldwater, CEO of AFA Music Group, Ltd.
Regulation SHO took effect January 3, 2005 , and provides a new regulatory framework governing short selling of securities. It was designed with the objective of simplifying and modernizing short sale regulation and providing controls where they are most needed. At the conclusion of each settlement day, data is provided on securities in which: 1) there are at least 10,000 shares in aggregate failed deliveries for the security for five consecutive settlement days; and 2) these failures constitute at least 0.5% of the issuer's total shares outstanding. SEC Regulation SHO, under the Securities Exchange Act of 1934, as amended, mandates that, if a clearing agent has had a fail-to-deliver position for 13 consecutive settlement days, that clearing agent, and the broker/dealer it clears for, must purchase securities in the open market to close out its fail to deliver position.
About AFA Music Group, Ltd. :
AFA "Artists for Artists" is a talent development and management agency. Since being founded in 2005, and based on its philosophy, AFA has attracted a roster of 10 "major-quality" recording artists. AFA Music Group plans on simultaneously acquiring various music-publishing assets and to begin developing its own catalogue of artists and albums. AFA retains equity positions with all of its artists, which include all income streams that are generated by these artists. These income streams include recording royalties, merchandise, sponsorship, touring, music publishing, Internet downloads and ringtones.
Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. The Company is a development stage company who continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
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Contact:
Investor Relations
1-866-THE-APPL(E)
www.afamusicltd.com
MECA (1.04) Magna Entertainment Corp. Announces Agreements to Sell Excess Real Estate
Friday, December 21 2007 2:42 PM, EST Canada NewsWire "All News "
AURORA, ON, Dec. 21 /CNW/ - Magna Entertainment Corp. ("MEC" or "the Company") (NASDAQ: MECA; TSX: MEC.A) today announced that it has entered into an agreement to sell 225 acres of excess real estate located in Ebreichsdorf, Austria to a subsidiary of Magna International Inc. ("MII") for use in its automotive business for a purchase price of 20.0 million Euros (approximately US$28.7 million at today's exchange rates), subject to customary adjustments. The closing of the transaction is expected to occur during the first quarter of 2008 following the satisfaction of customary closing conditions including obtaining all necessary regulatory approvals. The net proceeds received on closing will be used entirely to repay debt.
Blake Tohana, Executive Vice-President and Chief Financial Officer of MEC, commented: "This transaction is the first significant contracted asset sale as contemplated by our previously announced debt elimination plan. We are continuing to pursue other asset sale transactions and remain committed to our debt elimination plan."
MEC's consideration of the transaction was supervised by the Special Committee of MEC's board of directors, consisting of Jerry D. Campbell (Chairman), Anthony Campbell and William J. Menear. The transaction was approved by MEC's Board after a unanimous recommendation of the Special Committee.
The transaction was also reviewed by MII's Corporate Governance and Compensation Committee and subsequently approved by the independent members of MII's Board based on the unanimous recommendation of the Committee.
MEC also announced that it has entered into sale agreements, with unrelated parties, for three parcels of excess real estate comprising approximately 825 acres in Porter, New York . The expected total sale proceeds from these transactions are US$1.8 million . These sale transactions are expected to be completed on or about December 28, 2007 and the net sale proceeds will be used entirely to repay debt.
About MEC
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MEC, North America's largest owner and operator of horse racetracks, based on revenue, acquires, develops, owns and operates horse racetracks and related pari-mutuel wagering operations, including off-track betting facilities. MEC also develops, owns and operates casinos in conjunction with its racetracks where permitted by law. MEC owns and operates AmTote International, Inc. , a provider of totalisator services to the pari-mutuel industry, XpressBet(R), a national Internet and telephone account wagering system, as well as MagnaBet(TM) internationally. Pursuant to joint ventures, MEC has a fifty percent interest in HorseRacing TV, a 24-hour horse racing television network and TrackNet Media Group, LLC , a content management company formed for distribution of the full breadth of MEC's horse racing content.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of applicable securities legislation, including Section 27A of the United States Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the United States Securities Exchange Act of 1934, as amended (the "Exchange Act") and forward-looking information as defined in the Securities Act ( Ontario ) (collectively referred to as forward-looking statements). These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and the Securities Act ( Ontario ) and include, among others, statements regarding: expectations as to the timing of the closing of the excess real estate sales; expectations as to our ability to satisfy customary closing conditions, including obtaining all necessary regulatory approvals; expectations as to the use of the net proceeds from the excess real estate sales; expectations as to our debt elimination efforts, which there can be no assurance of success, expectations as to our ability to continue in our pursuit of other asset sale transactions; and other matters that are not historical facts.
Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such performance or results will be achieved. Undue reliance should not be placed on such statements. Forward-looking statements are based on information available at the time and/or management's good faith assumptions and analyses made in light of our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances and are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond the Company's control, that could cause actual events or results to differ materially from our forward-looking statements. Factors that could cause actual results to differ materially from our forward-looking statements include, but may not be limited to, material adverse changes: in general economic conditions, the popularity of racing and other gaming activities as recreational activities, the regulatory environment affecting the horse racing and gaming industries, and our ability to develop, execute or finance our strategies and plans within expected timelines or budgets. In drawing conclusions set out in our forward-looking statements above, we have assumed, among other things, that there will not be any material adverse changes: in general economic conditions, the popularity of horse racing and other gaming activities, the regulatory environment, and our ability to develop, execute or finance our strategies and plans as anticipated.
Forward-looking statements speak only as of the date the statements were made. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking statements. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect thereto or with respect to other forward-looking statements.