Rochester, NY, Mar 22, 2005 (M2 PRESSWIRE via COMTEX) -- OTCStockExchange.coms "Mid-Day Stock Watch Alert" this afternoon are Power2Ship, Inc. (OTCBB: PWRI), Biophan Technologies, Inc. (OTCBB: BIPH), IBAC Corporation (Pink Sheets: ICAN), Galaxy Minerals (OTC Bulletin Board: GAXY). Sign-up for our FREE Stock Alerts at http://www.otcstockexchange.com !
Power2Ship, Inc. (OTCBB: PWRI - http://finance.yahoo.com/q?s=PWRI.OB ) Power2Ship, Inc., a leader in the logistics industry, continues to aggressively expand by acquiring a non-asset based trucking company, Commodity Express Transportation (CXT). Based in West Columbia, South Carolina, CXT's successful freight transportation services for customers throughout the Southeastern United States since 1982 realized revenues of $16.5 Million in 2004. This acquisition establishes a new home for Power2Ship's owner-operators while integrating a 137,000 square foot distribution facility in Blythewood, South Carolina. CXT President Al Stokes commented: "This acquisition brings two highly complementary organizations together. I am confident that Power2Ship will continue the successes of CXT. It is consistent with their strategy of adding successful companies to their organization and will strengthen their presence in the logistics industry."
CXT has attained a successful customer base over 23 years. It consists of an operating truck fleet of 75 tractors and 220 trailers covering a wide service area throughout the Southeastern United States. Commodity Express Brokerage, a wholly owned subsidiary of CXT, provides brokerage services to CXT's customer base. Power2Ship Chief Executive Officer Richard Hersh stated, "Our acquisition of CXT, combined with the power of our existing MobileMarket(TM), can increase the business being conducted with CXT's existing customers two- to three-fold in the next two years."
Power2Ship projects CXT's revenue in 2005 to exceed $20 million.
About Power2Ship, Inc.
Power2Ship (P2S) is a Web-based Collaborative Marketplace that provides supply chain, tracking and other logistics information that enables freight carriers (trucking companies), shippers (senders and receivers of freight) and their customers to make better-informed, cost-effective transportation / logistics decisions. This information assists P2S Member Shippers to optimize their supply chain and reduce their transportation, warehousing and inventory carrying costs. P2S Member Carriers receive free, unlimited use of an asset management system through the MobileMarket(TM) to track the location, destination and availability of their transportation assets. P2S has formed three new divisions in order to accelerate the market penetration of its patent-pending P2S MobileMarket(TM). An international licensing division markets the P2S MobileMarket(TM) abroad. The second division is focused on Homeland Security and Operation Safe Commerce, primarily related to development of "smart" container tracking and visibility. The third division is pursuing mergers and acquisitions and joint ventures with strategic, non-asset based, trucking companies and transportation-related providers.
Biophan Technologies, Inc. (OTCBB: BIPH - http://finance.yahoo.com/q?s=BIPH.OB ) Biophan Technologies, Inc., a developer of next-generation biomedical technology, announced today the issuance of Patent No. 6,864,418, "Nanomagnetically Shielded Substrate," by the U.S. Patent and Trademark Office on March 8th of this year, expanding the patent coverage over nanomagnetic materials that is licensed from Nanoset, LLC to Biophan. This patent has applications in medical device technology being developed for commercial use by Biophan to protect patients having pacemakers and other similar implanted devices from potential harm due to magnetic resonance imaging (MRI) one of medicine's most important diagnostic imaging tools.
This patent focuses on the nanoscale composition, structure, and tuning of nanomagnetic shielding materials, and the effects these design properties have on the way the shield coating performs in the complex and powerful electromagnetic fields used in MRI. These specialized properties can be engineered to provide shielding for medical devices that are tuned to protect against these MRI-related electromagnetic fields.
The issuance of this patent brings Biophan's total issued patents to 33, in addition to 75 applications in process, for a total of 108 issued and pending U.S. applications, plus international coverage.
"We are developing what is known in the intellectual property community as extensive patent thickets, providing extensive coverage of solutions in this broad market arena. Biophan is achieving its strategic goal of cornering the market for MRI safe and image compatible implantable medical devices and interventional surgical instruments. As the industry transitions to this capability, and as devices and surgical tools begin shipping, this patent portfolio will become increasingly more important," stated Michael Weiner, CEO of Biophan.
Nanoset, LLC, an East Rochester, New York technology developer working with Biophan, has filed multiple new patents for the use of nanomagnetic particles. These technologies can be used to reduce image artifacts on implantable and interventional medical devices and for a new class of applications to enhance the uptake, release, and monitoring of drugs in medical device coatings. Biophan holds the worldwide exclusive rights to all medical applications developed by Nanoset.
************************************************************** IBAC Corporation (Pink Sheets: ICAN - http://finance.yahoo.com/q?s=ICAN.PK ) IBAC Corporation, has been informed that a private group of investors is in the process of buying a large portion of its ICAN stock on the open market. The private group of investors has committed themselves to buying ICAN stock up to 0.01 **************************************************************
"We are extremely pleased to have such a strong interest in our company, Management feels strongly that the company's stock is extremely undervalued and we believe it won't take long to see the price appreciate to a level respective of the company," stated Edward W. Hayter, President and CEO of IBAC Corporation. "Our company is operating better than ever. We are building the company aggressively per our stated plans, but there is a clear difference between the growth of the company and the current price of the stock.
"Furthermore, we believe our stock is being unjustifiably suppressed and we can no longer sit back and tolerate that type of manipulation. We are working with the proper professionals and are taking active steps to correct this issue. We feel strongly this will help bring the true value to our company's stock," said Edward W. Hayter.
Galaxy Minerals (OTC Bulletin Board: GAXY - http://finance.yahoo.com/q?s=GAXY.OB ) Galaxy Minerals, today announced that they appointed Dr. Thomas P. Fry D.O. to the Board of Directors as an Executive Director.
DR. THOMAS P. FRY D.O. (33) (Executive Director) Health & Safety Dr. Fry served as Attending Physician of the Emergency Room of Condell Hospital as well as being fully versed in hazardous materials including safety procedures & prevention associated with them. Dr. Fry practiced medicine out of Illinois in private practice before deciding to go more into the corporate medical world where we believe he will play a vital role consulting on employees healthy and safety.
Dr. Fry has a Bachelor of Science degree in Chemistry and will be consulting on the operation and safe use of Chemicals used in mining. Metal bearing ores need to be analyzed and chemicals mixed correctly or the recovery process can fall below the economic feasibility of extraction. In addition, Dr. Fry will be advising on the correct processes in disposing of used chemicals in an environmentally friendly and safe manner.
Galaxy Project Update:
Yellow Jacket & Phoenix Mine: Galaxy is currently making the final preparations to bring this mine in to production. Obtaining the correct permits for mining and getting the final data back from the labs is ongoing.
Culebrillas Mine-Peru: Galaxy Minerals has people on location and will be tendering for a planned intensive drilling program. We hope to see drilling take place in the later half of this year.
Oatman/Lexington Mines: Craig L. Parkinson of Parkinson Geologic Services was dispatched to do preliminary plotting, mapping, and rock chip sampling from the 7 patented mines. After this stage is complete, Parkinson Geologic Services will be conducting a review of the other 76 parcels of property we have on the claim block in and around Oatman Arizona.
Bonanza Project: This project is our latest acquisition with approx. 5000 acres of land. The project is a disseminated gold project that will require drilling and sampling across a vast area of the acreage. The company may take bids from drilling and /or engineering companies in order to expedite the exploration process.
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