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UDTT (.0055) CEO Purchases 100,000,000 Shares of Common Stock of Universal Detection Technology
Market Wire "US Press Releases "
LOS ANGELES, CA -- (MARKET WIRE) -- 02/13/07 -- Universal Detection Technology (www.udetection.com) (OTCBB: UDTT), a developer of early-warning monitoring technologies to protect people from bioterrorism and a provider of counter-terrorism products and services, announced today that its CEO, Mr. Jacques Tizabi has acquired 100,000,000 common shares at a price of $.006 per share. The shares were acquired in exchange for the forgiveness of $600,000.00 in debt owed by the company to Mr. Tizabi. The share price represents a premium to the closing price of the shares at the end of last week.
"This will improve the company's balance sheet significantly and also add to management's ownership stake in the company. It also demonstrates my continued commitment to the company's future," said Jacques Tizabi, CEO of Universal Detection Technology.
In a recent piece, NBC News covered Universal Detection Technology's automatic anthrax detection system, BSM-2000. That piece can be viewed at http://www.udetection.com/pressroom-video-NBC1006.htm. UDTT has sold two units of BSM-2000 to the government of England and it has recently sold anthrax test kits to the US Army. The Company expects to continue marketing its counter-terrorism technologies and products globally.
Universal Detection Technology is a developer of monitoring technologies, including bioterrorism detection devices. The Company, on its own and with development partners, is positioned to capitalize on opportunities related to Homeland Security. For example, the Company, in cooperation with NASA, has developed a bioterror 'smoke' detector that detects certain biohazard substances. For more information, please visit http://www.udetection.com.
Forward-Looking Statements
Except for historical information contained herein, the statements in this news release are forward-looking statements that involve known and unknown risks and uncertainties, which may cause the Company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Contact: Jacques Tizabi 310-248-3655
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RMLX (.042) Signs Exclusive Contract With Time Warner Cable Company NYC
Market Wire "US Press Releases "
DENVER, CO -- (MARKET WIRE) -- 02/13/07 -- RoomLinX, Inc. (PINKSHEETS: RMLX), a leading provider of wireless and wired Internet solutions to the hospitality industry, today announced that hotels within Time Warner Cable of New York and New Jersey's service area can now add wireless internet (WiFi) to the array of video (including free to guest and video on demand) and data services offered by Time Warner Cable Business Class. The Tribeca Grand, The Sherry-Netherland, The Envoy Club and The Milburn are among the first hotels to receive high speed wireless service from Time Warner Cable. These hotels are located in the heart of New York City.
"Time Warner Cable is a leader in the telecommunications industry, and we continually explore ways to add value and provide enhancements to the services we offer our Hospitality customers," stated Kimberly Kakerbeck, Director, Business Services, Time Warner Cable of New York and New Jersey. "Aside from offering in-room high speed internet connections, hotel guests have the added amenity of WiFi in common areas such as the lobby, restaurants, lounges and meeting rooms."
"Our guests in New York City now have the sophistication of a high speed wireless environment for their internet needs," stated Ellis Yee, Vice President of The Tribeca Grand. "Offering a wireless solution is one of the many attractive and complimentary amenities that a guest would expect from our hotel."
The technology being offered by Time Warner Cable includes a high speed connection delivered from Time Warner Cable's network. The WiFi connection, installation, monitoring and support services are provided by RoomLinX, Inc., a vendor of Time Warner Cable. RoomLinX has an exclusive agreement with Time Warner Cable to service New York metropolitan area hotels.
"Our partnership with Time Warner Cable unites a telecommunications leader with the most advanced WiFi networking solutions in the industry. We provide wireless services and support to bring hotel guests a fast, easy internet connection that is always on," said Michael Wasik, CEO, RoomLinX, Inc.
About RoomLinX, Inc.
RoomLinX (PINKSHEETS: RMLX) is a leader in broadband high speed wireless Internet connectivity, specializing in providing the most advanced WiFi networking solutions, currently supporting over 37,000 hotel rooms throughout the United States and Europe. We specialize in providing the most advanced WiFi Wireless and Wired networking solutions for High Speed Internet access to Hotel Guests, Convention Center Exhibitors, Corporate Apartments, and Special Event participants. Designing, deploying and servicing site-specific wireless networks for the hospitality industry is RoomLinX's core competency. Additional information can be found at www.roomlinx.com.
About Time Warner Cable of New York and New Jersey
Time Warner Cable of New York and New Jersey serves over 1.4 million customers in four NYC boroughs (Manhattan, Queens, Staten Island and western Brooklyn), Mt. Vernon, Hudson Valley (Orange, Sullivan, Ulster Counties and parts of Dutchess, Greene and Delaware Counties) and Bergen and Hudson Counties, New Jersey. Time Warner Cable of New York and New Jersey has led the telecommunications industry in bringing exciting, innovative services to customers including digital phone, high speed internet access through four ISPs, digital video recorders and Video On Demand. Additional information can be found be visiting www.timewarnercable.com/nynj.
Time Warner Cable owns and manages cable systems serving 14.4 million subscribers in 33 states. Passing approximately 28 million homes, Time Warner Cable includes some of the most technologically advanced and best-clustered cable systems in the country, with nearly 85 percent of the Company's customers located in five geographic regions: New York, Texas, Ohio, the Carolinas and southern California. Leveraging its leadership in innovation and quality customer care, Time Warner Cable delivers advanced products and services such as video on demand, high definition television, digital video recorders, high speed data and Digital Phone. Time Warner Cable is a subsidiary of Time Warner, Inc.
Safe Harbor
Certain statements in this news release, including statements that we "believe," "expect," "intend," "plan" or words of similar import, are forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: general economic and business conditions; competition; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of experimental studies; research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of the Company's Securities and Exchange Commission filings available at http://www.sec.gov.
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Contact:
Michael Wasik CEO, RoomLinX, Inc. (303) 544-1111, x101 Email Contact
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GESM (.04) Announces Contract With Tyson Foods
Market Wire "US Press Releases "
ASHBURN, VA -- (MARKET WIRE) -- 02/13/07 -- Brian P. Barrett, Chief Executive Officer of GUESTMETRICS, INC. ("GuestMetrics") (PINKSHEETS: GESM), a software provider and data mining company for the hospitality industry, announced today it has signed a contract to provide consumer spending data to Tyson Foods Inc., a Fortune 100 food company.
GuestMetrics will provide Tyson Foods with dining information collected from restaurant Point of Sale (POS) systems in the Southeast region. GuestMetrics aggregates check-level information by multiple categories and will provide Tyson with six categories of food data: chicken, beef, pork, turkey, seafood and appetizers. Stated Mr. Barrett, "This marks another pivotal point for our company. Our portfolio of data customers, including two of the world's largest beverage alcohol manufactures and now Tyson Foods, the world's largest processor and marketer of chicken, beef, and pork in the world, further validates the value proposition of our data offering."
About GuestMetrics
GuestMetrics, Inc. (GuestMetrics) is a software provider and data mining company for the hospitality industry. The company provides a suite of applications which enables restaurateurs to increase their top and bottom line by driving customer loyalty and improving business operations. The technology developed by GuestMetrics provides the infrastructure for restaurateurs to implement gift card and advanced loyalty programs, disseminate and measure targeted promotional campaigns and analyze their daily operations through a secure web-based application. By integrating directly with a restaurant's Point of Sale system, GuestMetrics collects check-level spending data. This information is sold in aggregate to food and beverage alcohol manufacturers, distributors or other companies interested in analyzing customer spending trends. More information about GuestMetrics may be found online at www.guestmetrics.com.
Safe Harbor Statement
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.
Contact: GUESTMETRICS, INC. ir*guestmetrics.com 703-297-3400
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e.Digital Corporation (OTC:EDIG), a leading producer of proprietary secure digital video technology and products, and owner of a portfolio of important flash memory patents, today reported improved results for the third fiscal 2007 quarter ended December 31, 2006. For the third quarter, e.Digital reported total revenues of $1.30 million a 1,035% increase from total revenues of $115,000 for the third quarter of fiscal 2006. Revenue for the third quarter included the first commercial quantity shipments of the Company's new eVU mobile entertainment system to in-flight entertainment (IFE) customers and the delayed shipment of a digEplayer(TM) order.
e.Digital reported an operating profit of $226,000 for the three months ended December 31, 2006, as compared to an operating loss of $515,000 for the three months ended December 31, 2005. Contributing to the operating profit was $713,000 of revenue from the digEplayer order, the costs of which were recorded as an impairment in the prior year due to uncertainty of delivery from a contract supplier. Operating costs increased from $524,000 to $714,000 primarily due to non-cash stock-based compensation costs, increased professional fees and increased sales and marketing costs associated with the commercial launch of eVU. Net loss available to common stockholders for the third fiscal quarter of 2007 was $(0.00) per basic diluted share as compared to $(0.00) per basic diluted share for the same period last year.
For the nine months ended December 31, 2006, the Company reported total revenues of $1.34 million, a 57% decrease from total revenues of $3.10 million for the nine months of fiscal 2006. Revenues for the fiscal 2006 period included three quarters of product sales while the latest nine-month period included only one quarter of product sales as the Company was transitioning from the old digEplayer model to the new eVU system. e.Digital reported an operating loss of $1.34 million for the nine months ended December 31, 2006 as compared to an operating loss of $1.32 million for the nine months ended December 31, 2005. For the nine months ended December 31, 2006, net loss available to common stockholders was $(0.01) per basic diluted share as compared to $(0.01) per basic diluted share for the same period last year.
e.Digital also reported that it has backlog and shipments this quarter to date of approximately $900,000 with further orders and shipments expected this quarter. The Company is generating new business through direct sales efforts and through distributors such as U.K.-based Mezzo Movies. e.Digital also participates in pilot and trial programs and responds to formal requests for proposal from companies in the healthcare and travel and leisure industries. e.Digital is currently participating in two eVU trials with major airlines. One of the trial partners is among the world's largest airlines.
The Company reported it improved its financial position during the quarter ended December 31, 2006 through:
-- The conversion of the $1.30 million balance of 12% Subordinated Convertible Promissory Notes previously due December 31, 2006 into equity. At December 31, 2006 no such notes remained outstanding.
-- The exchange of two 15% Unsecured Promissory Notes previously due December 31, 2006 for $970,752 in a 7.5% Convertible Subordinated Three Year Term Note, payable monthly, due November 30, 2009. The Company issued 500,000 shares of restricted common stock to extend the term and reduce the interest rate on the debt.
-- The conversion of a customer deposit obligation of $713,000 into revenue upon delivery of related digEplayer products.
"We are pleased and encouraged by the growing acceptance of our new eVU mobile entertainment system by regional and international airlines and by the in flight entertainment industry (IFE)," said Will Blakeley, e.Digital's president and chief technical officer. "We are building on the progress made last quarter by growing our eVU business, diversifying our customer base, and pursuing the monetization of our patent portfolio."
"While the last twelve months have been challenging, we are pleased to be in full production and shipping what we believe to be the best in class portable IFE product," continued Blakeley. "We have worked diligently on product design and with our suppliers to improve margins while providing value and utility to our customers."
Blakeley concluded, "Our strategy is to rapidly grow our eVU revenues through increased marketing efforts and to exploit through licensing our important portfolio of patents related to the use of flash memory in portable devices. We look forward to announcing new eVU business and portfolio-related IP developments this quarter and throughout the year."
About e.Digital Corporation: e.Digital is a provider of secure portable Video on Demand products including its eVU(TM) mobile entertainment system. e.Digital also owns and is pursuing the monetization of its portfolio of flash memory-related patents. e.Digital's proprietary digital technology platform employs its MicroOS(TM) operating system, Content Mark-Up Language (CML) application, LDP software, patent-pending Hardware Security technologies, Digital Rights Management (DRM) solutions, Content Download applications, Encryption and Content Protection solutions, and Video Display software applications. For more information about e.Digital and its technology platforms, please visit the company website at www.edigital.com.
Safe Harbor statement under the Private Securities Litigation Reform of 1995: All statements made in this document, other than statements of historical fact, are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act. You should not place undue reliance on these statements. We base these statements on particular assumptions that we have made in light of our industry experience, the stage of product and market development, expected future developments and other factors that we believe are appropriate under the circumstances. These forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the businesses of the Company and the industries and markets in which the Company operates. These statements are not guarantees of future performance and involve risks, uncertainties that could cause actual results to differ materially from those suggested in the forward-looking statements, including but not limited to the Company's ability to finance its operations, favorably resolve the complaint filed by digEcor, Inc. against the Company, sell its products, manufacture and ship orders in a timely manner, secure additional business, monetize its patent portfolio and other risks identified and discussed in our filings with the Securities and Exchange Commission ("SEC"). Actual outcomes and results may differ materially from what is expressed or implied by the forward-looking statements. More information about potential factors that could affect the Company can be found in its most recent Form 10-K, Form 10-Q and other reports and statements filed with the Securities and Exchange Commission ("SEC"). e.Digital Corporation disclaims any intent or obligation to update these or any forward-looking statements, except as otherwise specifically stated by it.
Note: eVU and MicroOS are trademarks of e.Digital Corporation. All other company, product, and service names are the property of their respective owners.
e.Digital Corporation and subsidiary Condensed Balance Sheet (000's omitted except per share amount) (unaudited)
December 31, 2006 March 31, 2006 $ $ ASSETS Current Cash 305 1,059 Accounts receivable - 3 Inventory 145 - Deposits and prepaid expenses 82 32 ----------------- -------------- Total current assets 532 1,094 ----------------- -------------- Property and equipment, net 22 62 ----------------- -------------- Total assets 554 1,156 ----------------- -------------- LIABILITIES AND STOCKHOLDERS' DEFICIT Current Accounts payable 761 261 Other payable and accruals 240 225 Customer deposits 83 794 Accrued lease liability 515 515 Dividends 437 402 Current maturity of convertible term note 82 - Convertible subordinated notes - 397 Unsecured notes - 1,016 ----------------- -------------- Total current liabilities 2,118 3,610 ----------------- -------------- Long term 814 - Stockholders' deficit (2,378) (2,454) ----------------- -------------- Total liabilities and stockholders' deficit 554 1,156 ================= ==============
e.Digital Corporation and subsidiary Condensed Statement of Operations (000's omitted except per share amount) (unaudited)
For the three months ended For the nine months ended December 31, December 31, 2006 2005 2006 2005 $ $ $ $ Total revenue 1,302 115 1,336 3,103 Cost of revenue 363 106 392 2,511 -------------------------- ------------------------- Gross profit 940 9 945 592 -------------------------- ------------------------- Operating expenses: Selling and administrative 367 205 1,180 941 Research and development 347 318 1,101 969 -------------------------- ------------------------- Total operating expenses 714 524 2,281 1,909 -------------------------- ------------------------- Operating profit (loss) 226 (515) (1,336) (1,317) Other income (expenses): Interest income 1 - 12 8 Interest expense (373) (142) (1,319) (375) Other (11) - (242) (2) -------------------------- ------------------------- Total other income (expenses) (382) (142) (1,549) (369) -------------------------- ------------------------- Loss and comprehensive loss (156) (656) (2,885) (1,686) Dividends on convertible preferred stock (29) (43) (96) (128) -------------------------- ------------------------- Loss attributed to common stockholders (186) (699) (2,981) (1,814) ========================== ========================= Loss per common share - basic and diluted (0.00) (0.00) (0.01) (0.01) Weighted average common shares outstanding 220,870,444 175,260,876 209,257,848 175,192,603
Source: e.Digital Corporation
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SCYF (.18) Acquisition Target Should Increase Revenue by Six Million
Business Wire "US Press Releases "
HOUSTON--(BUSINESS WIRE)--
Security Financing Services, Inc. (OTC Pink Sheets: SCYF), a provider of sophisticated, IP and physical security convergence solutions, moved to increase its solutions portfolio by announcing its signing of an exclusive letter of intent to acquire a Defense Department Software Contractor, Nsite, LLC of Pittsville, Maryland. The acquisition is expected to increase future revenues by more than Six Million Dollars.
Nsite specializes in the design, sale and implementation of management knowledge systems, termed "Lessons Learned Technology." Several branches of the United States military currently use this technology to create models of battlefield behaviors. "The mission of Nsite's Lessons Learned system is the capture and distribution of Lessons Learned Knowledge whenever and wherever possible especially when net-centric capabilities are limited or non-existent. By collapsing the Lessons Learned dispersion time loop from months to hours, we save lives and ensure fastest mission completion. We are excited to have the opportunity to pair our mission-critical information management capabilities with SCYF's proven digital surveillance capabilities," stated Nsite CEO Tina Cropper.
By conducting "After Action Reviews" immediately after a training or operational mission, a modular IT software platform is used based on the situational configurations and parameters for that individual solution to expand the knowledge of techniques that either worked or did not work, in the field. The Marine Corps Center for Lessons Learned, for example, uses the Nsite program to help ensure that Marines do not have to "reinvent the wheel" each time they do a mission. Within the SCYF communities ensuring a faster, better prepared response could prove just as vital.
Mike Hardy, SCYF CEO, said, "Because of the uncertainties and diversity of the modern battlefield, the United States military is constantly learning and adapting its doctrine, tactics, techniques and procedures. The various mechanisms that drive this change in a coordinated and coherent process fall within an umbrella concept known as 'Lessons Learned'. SCYF intends to leverage the Nsite capabilities to bring lessons learned technology to our customer base. Prediction of pattern behaviors within the local communities monitored by SCYF digital video surveillance systems will improve the abilities first responders, property managers and residents to deal with not only threatening situations, but the daily situations that arise."
Security Financing Services, Inc., a designated Honeywell Security Products dealer, is a cutting-edge technology company focused on end-to-end network solutions for customers. Solutions range from the smallest homeowner to the largest government or commercial enterprise. In addition to providing financing services to alarm dealers and integrators, SCYF also operates and manages a portfolio of alarm monitoring accounts throughout Texas and the Southeast. SCYF designs, installs and monitors digital video surveillance networks for government, industrial and commercial application.
Forward-Looking Statements: This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Source: Security Financing Services, Inc.
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SAOL (.45) Diamond Property 231 Geological Surface Report Estimates 12.7 Million Carats of Diamonds With Approximate Value in Excess of $300 Million
Market Wire "US Press Releases "
LAS VEGAS, NV -- (MARKET WIRE) -- 02/13/07 -- Sao Luis Mining, Inc. (PINKSHEETS: SAOL), a diamond mining and precious metals exploration company, reports that the geological report submitted to Brazil's Department of National Mineral Production (DNPM) in 2005 defined a surface resource of 12,695,000 carats with an average grade of 1.645 carats per cubic meter on its joint venture Property 231. At present market prices this resource could be conservatively valued at approximately $300,000,000.
The geological report did not take into account the additional resources contained below the surface in three primary sources located at lower depths or even the secondary alluvial gravels deposited below the surface. This data, taken together with the recent results from the initial bulk sampling program now underway on the Company's adjacent joint venture Property 117, should significantly increase the total diamond resources on the two properties with a comparable increase in the estimated value of the property.
The first three bulk samplings of the alluvial gravels on Property 117 has already produced 673 carats of diamonds, including three gem quality diamonds exceeding 2 carats. Fifty percent of the diamonds recovered from this sampling averaged over half a carat per stone, and the grade reached 0.648 carats per cubic meter in one test area. This is considered a very high concentration of coarse diamonds. The overall grade is expected to increase as the work approaches the "stone line."
The Company will continue its ongoing evaluation of Property 117. This includes the ongoing drilling program to delineate the diamond bearing gravels, the analysis of the latest satellite reports, and continued bulk sampling. In addition, it ordered a second field processing plant that was scheduled for installation in early February. However, due to heavy seasonal rains, it should be installed in late February or early March.
In April, a pilot processing plant manufactured by Extrac-TEC with a 40 ton per hour capacity will be delivered to start production mining. This processing plant has the capacity to produce over 5,000 carats per month. Once it has proven to be efficient, at least one additional processing plant with 100 ton per hour capacity will be ordered, which could increase the production capacity to 15,000 carats per month.
About Sao Luis Mining:
Sao Luis Mining, Inc. is a diamond mining and precious metals exploration company. Its strategy is to acquire interests in producing mines and develop properties that have the promise to be economically viable. Sao Luis Mining has a 51% joint venture interest in Comercio e Mineracao Sao Luis Ltda., which operates two diamond properties and an existing processing plant in the Sao Luis River Basin. The operation is located in the state of Mato Grosso, which is the most productive diamond district in Brazil and responsible for 61% of all the legally mined diamonds in Brazil in 2005. Additional information, including a photo gallery and geological report, is available at the Company's website www.saolmining.com.
Forward-Looking Statements:
This news release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this release, words such as "estimate," "expect," "anticipate," "projected," "planned," forecasted" and similar expressions are intended to identify forward-looking statements, which are, by their very nature, not guarantees of Sao Luis Mining, Inc.'s future operational or financial performance, and are subject to risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Due to the risks and uncertainties, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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LTDN (.135) Releases First Images of the New Latitude 33 SS
Market Wire "US Press Releases "
MIAMI, FL -- (MARKET WIRE) -- 02/13/07 -- Latitude Industries (PINKSHEETS: LTDN), a manufacturer of high quality Offshore Sports Fisherman and Center Console boats in Florida, announces the sneak preview of its first Latitude 33 SS exclusively to its shareholders and customers.
The company and directors are pleased to release this news to you; we are so excited about this project and the overwhelming response we are having from customers and friends that we decided to give you a sneak preview on the exciting Latitude 33 SS.
Soon we will be posting the pictures in our new and redesigned web site; please stay tuned.
In a statement, Carolina Hernandez, President and CEO of Latitude Industries mentions her commitment to shareholders to keep them up to date: "I want our shareholders informed and excited about all of our present and future projects at Latitude Industries. Moreover this boat makes us a key player in a multi billion dollar sector of this industry." 68% of boats sold in the U.S. are classified open center console and sport fishing boats.
About Latitude Industries Inc.
We are an innovator and manufacturer of high quality Offshore Sport Fishing Boats. We specialize in cutting edge design and technology to build the most advanced sport Fishing Boats in the market.
Through this unique fusion of technology and craftsmanship, the company, Latitude Industries, will utilize the most advanced composite material and epoxies in the market to distance itself from the ordinary lamination that the rest of the industry uses.
The company's strength lies in the Fifty (50) plus years of hands-on experience that the principals and the skillful craftsmen who run our plant bring. Together with the close ties that we have developed through the years with direct lenders like Gulf Capital, floor plan financiers like GE Capital, and Government contracts with over Forty (40) boats built for Homeland Security to patrol our national and international interest, we are proud to say that we are ready to excel and conquer this present and future market.
For more information about Latitude Powerboats Inc. please contact us directly at: Publicity*Latitudepowerboats.com or visit our web site www.latitudepowerboats.com
Respectfully yours Carolina Hernandez President & CEO
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.
For more information about Latitude Powerboats Inc.: Publicity*Latitudepowerboats.com www.latitudepowerboats.com
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Phoenix Associates Acquires Noble Jet Feb 14, 2007 9:35:00 AM MADISONVILLE, LA -- (MARKET WIRE) -- 02/14/07 -- Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) today announced the acquisition of Noble Jet, Inc., a jet aircraft maintenance facility located on the Fort Lauderdale Executive Airport (FXE).
Phoenix Associates has acquired 80% of the common stock of Noble Jet, Inc. for $2.0 million, paid through a combination of cash payments and a ten year note at 6.00% APR. Mr. Noble Kurth will retain a 20% equity position in Noble Jet and will continue to manage the day to day operation as Chief Operating Officer. Phoenix will assume overall executive control on February 23, 2007.
Paul Alonzo, President and CEO of Phoenix Associates, stated, "We are very excited about the addition of Noble Jet to the Phoenix organization. Coupled with the Best Jets group of companies, Noble Jet will give us an existing book of business in the very active south Florida market, and will provide a service center for new and existing Best Jets clients in the southeastern U.S.A. This strategic location will also provide us a portal to Learjet operators throughout Latin America."
Noble Jet specializes in the Learjet family of aircraft, performing unscheduled repairs, routine maintenance, and major airframe inspections. Several air taxi operators rely on Noble Jet for direct support of their Learjet fleet.
Mr. Alonzo added, "Noble Jet does not presently perform engine repairs or hot section inspections, so teaming with Best Jets will give Noble Jet expanded capability to better serve its customers who operate 20 series Learjets."
In conjunction with the acquisition of Noble Jet, Phoenix announces the hiring of Jeff Hathorn to conduct marketing and sales efforts in the Southeast for the Best Jets family of companies. Mr. Hathorn is an airline transport pilot and has an extensive aviation resume, including flying experience in the military, air cargo, passenger airlines, and corporate jets. Of particular interest to Phoenix Associates, one of his many FAA type ratings is in Learjets. In addition to aviation, Mr. Hathorn has substantial business experience, having owned and managed marinas, yacht sales outlets, and various real estate and marine related businesses.
About Phoenix Associates Land Syndicate (PBLS)
Phoenix Associates Land Syndicate (PBLS) is a public holding company, with thousands of stockholders, that has purchased motivated companies in order to enhance its assets and income basis. Since 1978, PBLS has developed assets and/or interests in sand & gravel, soil products, land development, oil and natural gas, commodity brokering, plumbing, trucking, contract hauling, construction, swimming pool construction and construction related industries. For more information, visit www.pbls.biz
Forward-Looking Statements
This press release contains statements that are "forward looking" and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. Generally, the words "expect," "intend," "estimate," "will" and similar expressions identify forward-looking statements. By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements, or that of our industry, to differ materially from those expressed or implied in any of our forward-looking statements. Statements in this press release regarding the Company's business or proposed business, which are not historical facts, are "forward-looking" statements that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.
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