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NZYM (.35) Reports First Quarter Fiscal 2007 Results Aug 3, 2006 4:23:00 PM
ALBANY, Ore., Aug. 3 /PRNewswire-FirstCall/ -- Synthetech, Inc. (NZYM.PK) today announced financial results for the first quarter of fiscal 2007, which ended June 30, 2006. Revenue for the quarter was $1.7 million, a 46% increase compared to revenue of $1.2 million in the first quarter of fiscal 2006. Operating loss for the current quarter was $795,000, compared to a loss of $1.1 million for the same period last year. Net loss for the current quarter was $785,000, or $0.05 per share, compared to last year's first quarter net loss of $1.1 million, or $0.07 per share.
International sales, mainly to Europe, were $861,000 and $692,000 in the first quarter of fiscal 2007 and 2006, respectively. International sales, like all of Synthetech's revenues, are subject to significant quarterly fluctuations.
Research and development expenses for the first quarter fiscal 2007 increased $138,000 to $330,000, compared to $192,000 in the first quarter of fiscal 2006. The increase was primarily a result of Synthetech's having engaged in October 2005 a contract research and manufacturing company located in India to serve as a satellite R&D team and the hiring of additional R&D chemists in response to improving market conditions. Synthetech's existing agreement for chemists and laboratory space with this contract research and manufacturing partner in India will terminate in August 2006. The Company has decided that it will no longer engage this partner on a monthly basis but will access lab and small-scale manufacturing services on a project by project basis.
Selling, general and administrative expenses for the first quarter of fiscal 2007 decreased $61,000 to $510,000, compared to $571,000 in the first quarter of fiscal 2006. The decrease between the two periods is primarily a result of a reduction in consulting fees incurred for strategic development services and the departure in December 2005 of the Company's director of business development for Europe. The cost decreases were partially offset by fees and expenses of $31,000 paid to Dr. Dan Fagan for his services on the Strategic Development Committee of the Board of Directors, which committee was established in February 2006.
The Company's cash and cash equivalents and marketable securities were $613,000 at June 30, 2006, compared to $2.0 million at March 31, 2006. Synthetech's cash position decreased in the first quarter of fiscal 2007 primarily as a result of an increase in accounts receivable and inventories of $1.5 million and the net loss of $785,000. The decrease in cash, cash equivalents and marketable securities was partially offset by borrowings of $425,000 during the first quarter of fiscal 2007 under the Company's line of credit.
Synthetech's working capital was $4.4 million at June 30, 2006, compared to $5.0 million at March 31, 2006.
Synthetech, Inc. Condensed Statements of Operations (unaudited)
First Quarter Ended June 30, (in thousands, except per share data) 2006 2005
Revenue $1,743 $1,194 Cost of revenue 1,698 1,533
Gross income (loss) 45 (339)
Research and development 330 192 Selling, general and administrative 510 571 Total operating expense 840 763
Operating loss (795) (1,102)
Interest income 12 21 Interest expense (2) (1)
Loss before income taxes (785) (1,082) Income taxes -- -- Net loss $(785) $(1,082)
Basic and diluted loss per share $(0.05) $(0.07)
Commenting on the Company's results, M. "Sreeni" Sreenivasan, President and CEO, said, "While not yet at a level to support profitable operations, we have seen revenues stabilizing in recent quarters. With recent large-scale orders for repeat projects, our backlog as of July 31, 2006 exceeded $5 million and we expect that a large portion of the backlog will ship during fiscal 2007. The pace of inquiries and large-scale orders over the past six months has remained healthy."
Management anticipates that Synthetech's revenue will continue to be volatile from period to period. Variability in Synthetech's level of revenue is based primarily on its participation in large-scale customer projects and the timing of shipments arising from these projects. Synthetech operates in a challenging business environment, characterized by the unpredictable dynamics and life cycle of pharmaceutical projects, which can lead to rapid fluctuations in the mix of projects and revenues. As the uncertainties inherent in drug development projects remain outside of Synthetech's control, it is difficult to predict the progress, timing and revenue potential of these projects.
About Synthetech
Synthetech, Inc. is a fine chemicals company specializing in organic synthesis, biocatalysis and chiral technologies. Synthetech develops and manufactures amino acid derivatives, specialty amino acids, peptide fragments, proprietary custom chiral intermediates and specialty resins, primarily for the pharmaceutical industry. Synthetech's products support the development and manufacture of therapeutic peptides and peptidomimetic small molecule drugs at every stage of a customer's clinical development pipeline, and are used in drugs for the treatment of AIDS, cancer, cardiovascular and other diseases. Synthetech also manufactures products for use in cosmeceuticals.
Forward-Looking Statements
This press release contains "forward looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking, including, without limitation, statements regarding: future operating results; the status of the fine chemicals industry; and termination of Indian laboratory services agreement and form of any future arrangement. Words such as "believe," "anticipate," "expect," "estimate," "project," "will be," "will continue," "will likely result," or words or phrases of similar meanings identify forward-looking statements. Forward-looking statements reflect management's current expectations, plans or projections and are inherently uncertain and actual results could differ materially from such expectations, plans or projections. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this report. Risks and uncertainties that could cause actual results to differ significantly from management's expectations include, but are not limited to, the following: uncertainty regarding Synthetech's ability to continue its operations; Synthetech's limited financial and other resources; the uncertain market for Synthetech's products; potential loss of a significant customer; customer concentration; potential termination or suspension by customers of significant projects or orders; Synthetech's limited experience in entering new markets and market segments; potential period-to-period revenue or expense fluctuations; higher than expected cash use, or inability to borrow funds under Synthetech's credit facility or to raise other debt or equity capital required to continue operations or to implement its growth strategy; production factors; industry cost factors and conditions; competition; government regulation; labor disputes; technological changes; international business risks. Investors are urged to read Synthetech's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended March 31, 2006, for a further description of risks and uncertainties related to forward-looking statements made by Synthetech as well as to other aspects of Synthetech's business. Those reports describe, some, but not all of the factors that could cause actual results to differ significantly from management's expectations. Additional risks and uncertainties not presently known to Synthetech or which Synthetech currently deems immaterial also may impair its business or operations. Synthetech does not intend to release publicly any revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
MORE INFORMATION: Web site: www.synthetech.com E-mail: investor*synthetech.com
CONTACT: M. "Sreeni" Sreenivasan, President & CEO Gary Weber, CFO PO Box 646 Albany, Oregon 97321 541-967-6575
SOURCE Synthetech, Inc.
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M. "Sreeni" Sreenivasan President & CEO or Gary Weber CFO both of Synthetech Inc. +1-541-967-6575 or investor*synthetech.com
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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ATLANTA, GA -- (MARKET WIRE) -- 08/03/06 -- Paivis, Corp. ("PAIVIS" or the "Company") (OTCBB: PAIV) today announces and effective Friday, August 4, 2006, Paivis will have a new ticker symbol, (OTCBB: PAVC) and the consolidation ratio for the Company's planned reverse split will be 200 to 1, also with an effective date of August 4, 2006.
As part of the consolidation, on a 200 to 1 basis, the authorized common stock of the Company has changed from 25,000,000,000 shares to 125,000,000 shares.
There will be no fractional shares issued under the consolidation; therefore all fractional shares will be rounded up the next whole share. Also, any shareholder holding less than 100 shares post split shall be rounded up to 100 shares.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
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AskMeNow Agrees to License Mobile Search Technology 8/3/2006
Right to Purchase IntelliGate Expires
IRVINE, CA, Aug 03, 2006 (MARKET WIRE via COMTEX News Network) -- AskMeNow, a wholly owned subsidiary of Ocean West Holding Corporation (OTCBB: OWHC), today announced it has agreed to enter into a software license agreement with a leading edge semantic intelligent search technology company specializing in linguistic technology for information search.
Semantic intelligent search is an application for the search and indexing of information in unstructured databases, such as Internet web sites, and structured databases such as a company's knowledge base or Intranet.
By integrating this technology into AskMeNow's product, it will offer tremendous enhancements including the automatic processing of natural language (common language) queries in multiple languages and eliminating the need for human involvement; therefore lowering operating costs and making AskMeNow a truly global and completely scalable product.
In addition to the operational benefits, AskMeNow will now be able to provide semantic intelligent search available on cell phones. Intelligent search will allow for the retrieval of information in spite of the presence/absence of keywords, misspellings and the meaning of the words expressed in their contexts -- regardless of the gender (masculine/feminine), tense (singular/plural), verb tense and mode (present/past/future/conjunctive/etc). This technology will provide the most relevant and precise response, ensuring the highest level of accurate answers possible without human interaction.
"AskMeNow is continuing its exhaustive search to develop or acquire leading edge technologies that will further extend our product advantage in the marketplace," says Darryl Cohen, CEO.
At this juncture, AskMeNow has decided to license this search technology rather than acquire IntelliGate; feeling that it was in the Company's best interests to let the right to purchase lapse. The Company and IntelliGate were unable to reach agreement on a definitive purchase agreement based on internal factors as well as the current circumstances in the Middle East.
About AskMeNow
AskMeNow, a wholly owned subsidiary of Ocean West Holding Corporation, is the easiest, most convenient way to access information on the Internet or from local content from your cell phone or mobile PDA device. The first mobile lifestyle network, AskMeNow utilizes its proprietary technology to offer a natural language based interaction and dynamic content provision platform designed for simple and quick information retrieval. Through relationships such as the one previously announced with Rogers Wireless, Canada's leading wireless carrier, the Company generates revenues through per usage fees and one to one contextual mobile advertising sponsorships. AskMeNow launched officially in November 2005. The Company is based in Irvine, California. Please click on www.askmenow.com for more information.
Forward-Looking Statements
This press release contains certain statements which are not historical or current fact and constitute forward-looking statements within the meaning of such term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual financial or operating results of the Company or AskMeNow to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements are based on our best estimates of future results, performance or achievements, based on current conditions and the most recent results of the Company and AskMeNow. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms may, will, potential, opportunity, belies, belier, expects, intends, estimates, anticipates or plans to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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Superior Oil and Gas Company Makes Announcement 8/3/2006
YUKON, Okla., Aug 03, 2006 (BUSINESS WIRE) -- Today, Tom Jenkin informed Superior Oil and Gas Co. (OTC BB: SIOR) that, "due to professional and unexpected personal obligations, I will be unable at this time to join Superior as an advisory director."
This Press Release contains forward-looking statements based on our current expectations about our company and our industry. You can identify these forward-looking statements when you see us using the words such as 'expect,' 'anticipate,' 'estimate,' 'believes,' 'plans' and other similar expressions. These forward-looking statements involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of our ability to complete required financings and other preconditions to the completion of the transactions described herein and Superior's ability to successfully acquire reserves and produce its resources among other issues. We undertake no obligation to publicly update any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. We caution you not to place undue reliance on those statements.
SOURCE: Superior Oil and Gas Company
Superior Oil & Gas Company Dan Lloyd, 405-350-0404 Fax: 405-350-0539 info*superioroilandgas.com
Copyright Business Wire 2006
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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RICHMOND, British Columbia, Aug 03, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- SmarTire Systems Inc. (OTC Bulletin Board: SMTR) announced today that it has appointed BDO Dunwoody LLP as its new auditors. The company's audit committee made the decision to change independent accountants and that decision was approved, ratified and adopted by the company's board of directors.
SmarTire's former auditors, KPMG LLP, resigned at the request of the company. There were no disagreements between SmarTire and KPMG on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures.
About BDO
BDO International is a worldwide network of public accounting firms, called BDO Member Firms, serving international clients. Each BDO Member Firm is an independent legal entity in its own country.
At September 30, 2005, the 93 BDO Member Firms in 105 countries employed 27,828 professionals in 601 offices throughout Europe, North and Southern Africa, North America and the Caribbean, Latin America, the Middle East and the Asia Pacific region.
About SmarTire Systems Inc.
SmarTire develops and markets proprietary advanced wireless sensing and control systems worldwide under the SmartWave(TM) trademark. The company has developed numerous patent-protected wireless technologies and advanced tire monitoring solutions since it was founded in 1987. The company's proprietary SmartWave platform provides a foundation for the addition of multiple wireless sensing and control applications. The initial product release on the SmartWave platform is SmartWave TPMS, which leverages on the company's background and knowledge in tire monitoring solutions. SmarTire has offices in North America and Europe. For more information, visit http://www.smartire.com .
An investment profile, a comprehensive online investor relations kit, SEC filings and other useful investor information regarding SmarTire Systems Inc. can be found at http://www.hawkassociates.com/smartire and http://www.americanmicrocaps.com . In addition, this press release is available for investor commentary, questions, near real-time answers and monitored discussion in the SmarTire IR HUB at http://www.agoracom.com/IR/SmarTire . Alternatively, investors may contact Ken AuYeung or Frank Hawkins of Hawk Associates at (305) 451-1888, e-mail: info*hawkassociates.com, or e-mail questions to SMTR*agoracom.com.
SOURCE SmarTire Systems, Inc.
Investors, Ken AuYeung or Frank Hawkins, both of Hawk Associates, +1-305-451-1888, or info*hawkassociates.com, for SmarTire Systems http://www.prnewswire.com
Copyright (C) 2006 PR Newswire. All rights reserved
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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VANCOUVER, Aug 03, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Independent Canadian oil and gas exploration company TAG Oil Ltd. (TSX-V: TAO and OTCBB: TAGOF) announced today that the Board of Directors has granted stock options to its directors, officers and a consultant of the Company. Options were granted to acquire 625,000 common shares at an exercise price of $0.70 per share. The options are exercisable for five years and vest over eighteen months from the date of grant.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. About TAG Oil:
TAG Oil Ltd. is an independent Canadian oil and gas exploration company with a well-balanced portfolio of assets in and around the Canterbury, Taranaki and East Coast basins of New Zealand. This regional focus supports the Company's mandate to explore in countries with low political risk and low government taxation, through the establishment of a portfolio of both high risk/high reward exploration projects and low risk/moderate reward acreage in producing basins. With exploration permits totaling 5,035,608 gross acres (net 1,861,587), TAG Oil is one of the largest holders of prospective acreage in New Zealand.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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U.S. Microbics, Inc. Will Be Featured in Live Press Conference on Market News First (***.com) Wednesday, August 9 at 10:00 a.m. EDT
Thursday August 3, 4:10 PM EDT
************ Communications, Inc. (IVSR) announced today that one of its clients, U.S. Microbics, Inc. (BUGS) will hold a live press conference on Wednesday, August 9 at 10:00 a.m. EDT. U.S. Microbics, Inc. is a business development and holding company that acquires, develops and deploys innovative environmental technologies for environmental cleanup and agriculture yield enhancement in developing nations while using local resources to stimulate regional economies with new jobs and foreign investment. It specializes in the development of naturally occurring microbes, or 'bugs,' to accomplish environmentally sound waste clean-up. It also provides technological solutions designed to reduce air pollution and improve the efficiency of agricultural output. U.S. Microbics, Inc. manufactures its own microbial blends and engineers biotechnological solutions deployed most notably by its majority owned subsidiary, Sub Surface Waste Management, Inc. Interested parties may go to www.***.com and download the free player enabling them to listen in for management's review of operations and discussion of future prospects. This live broadcast is available to anyone at any computer connected to the Internet and should prove valuable for existing and prospective investors alike.
U.S. Microbics is a business development and holding company that acquires, develops and deploys innovative environmental technologies for environmental cleanup and agriculture yield enhancement using local resources and stimulating regional economies in developing nations. For more information on the company, contact Robert Brehm at 760-918-1860 x102 or visit the website at www.bugsatwork.com,www.MikeyMicrobe.com or http://www.subsurfacewastemanagement.com.
and of course always do your own DD
Posts: 23 | From: Tx | Registered: Jan 2006
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Reese Corp Quick Quote: RESE 1.70 (-0.05) Reese Corp. Acquires 100% of Second Gold Property in Nevada with Surface Samples of up to 31 Grams per tonne Gold 8/3/2006 RENO, Nev., Aug 03, 2006 (BUSINESS WIRE) --
Reese Corp. (OTCBB:RESE)(FWB:R5E) is pleased to announce that it has signed a Letter of Intent to acquire a 100% interest in the Ox Creek property, located 13 miles northeast of Austin, Nevada. The property consists of 29 claims covering approximately 560 acres, where surface samples have shown gold grades of up to 31 grams per tonne over a width of 3 feet. Geologically, it is located within and adjacent to the Callaghan Mountain structural window through the Roberts Mountains Thrust, in an area of strong hydrothermal alteration and highly anomalous geochemistry. These are associated with high angle faulting as well as the low angle thrust zones.
Bill Reed, VP Exploration, North America, commented, "The initial attraction to this area was due to a number of factors including the significant 3 foot wide outcrop that ran 31 grams per ton gold; its proximity to the ongoing adjacent exploration activity by Teck Cominco and J-Pacific Gold; and a recently published article in Economic Geology Magazine suggesting that this area contains an under-explored significant hydrothermal system as indicated by regional geochemical studies. We intend to aggressively explore Ox Creek in this emerging district with the objective of proving up an economic resource."
Available data from prior exploration in the area confirms in detail the presence of highly anomalous concentrations of gold, arsenic, antimony, mercury, zinc and silver in soils, rock chips and drill cuttings, with associated decalcification of silty limestones and locally intense silicification. There have been narrow drill intercepts and surface rock samples with gold contents up to 0.10 ounces per ton. Lithologic units very favorable to mineralization are thinly overlain by thrust plates of less favorable host rocks.
A significant exploration target is located on the southern extension of the poorly defined Cottonwood Spring resource of 50,000 - 75,000 ounces of gold, apparently controlled by faulting and favorable lithologies. Reese Corp. technical personnel are currently compiling a large amount of data produced by earlier exploration groups to better define additional structural, geochemical and lithological exploration targets.
Under the terms of the agreement, Reese Corp can earn a 100% interest in Ox Creek by making property payments totaling $110,000 and by incurring exploration expenditures of a minimum of US$100,000. In addition, the property vendor is entitled to a 2% NSR on any production which Reese Corp. can buy-back 1% for US$1,000,000 at its sole discretion.
About Reese Corp.
Reese Corp. is a precious metals exploration and development company. It is management's objective for Reese to become a gold and precious metals producer by developing the El Tiliche project in Mexico, the Bailey Hills and Ox Creek properties in Nevada, and by acquiring other advanced-stage projects and/or producing mines in proven precious metal districts throughout the world. The Company trades on the OTC market under the symbol "RESE" and on the Frankfurt Exchange under the symbol "R5E". For more information, please visit the Company's web site at: www.ammexgoldmining.com (now available in the following languages: English, German, Mandarin, Spanish and French).
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
SOURCE: Reese Corp.
Reese Corp. Investor Relations: Skyline Communications, 613-226-9881 Toll-free: 1-866-481-2233 Copyright Business Wire 2006
Posts: 3255 | From: Los Angeles California | Registered: Jan 2006
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SLJB (.10) Sulja Bros. Building Supplies, Ltd. Receives Investment Capital and Releases Financial Information Aug 3, 2006 10:53:00 PM
DUBAI, UNITED ARAB EMIRATES -- (MARKET WIRE) -- 08/03/06 -- Wessal International is pleased to announce that Sulja Bros. Building Supplies, Ltd.'s (PINKSHEETS: SLJB) financials are currently available on www.suljabros.com.
CEO Steve Sulja states: "Sulja Bros. is pleased to release financial statements to the investing community. The posted financials are a compilation of Sulja Bros. and all of its North American and Middle Eastern wholly owned subsidiaries. We had a great year and our Middle East projects are supplying tremendous growth. We look forward to another outstanding year with increased net profits and growth."
Wessal International has arranged for private financing of USD 25 million, of investment capital, for Sulja Bros. Building Supplies, Ltd.
A Wessal International spokesperson commented, "We have acquired private financing to secure the vast supplies and materials needed in the rapidly growing operations in the Middle Eastern market. This will necessitate and alleviate the capital required for such an extensive demand for building materials. The capital attained will ensure that Sulja Bros. will not use company shares to raise capital in the near or distant future, and will continue to not only maintain the upward climb towards a high price per share, but to also steadily rise towards a higher market exchange."
This contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Forward-looking statements may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions: "may," "could," "should" or "might occur." Such forward-looking statements involve certain risks and uncertainties. The actual result may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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This isn't a PR but could have an effect on quite a few stocks.
Chris remains tropical storm on path toward Cuba Fri Aug 4, 2006 10:19 AM IST
By Jane Sutton
MIAMI (Reuters) - Tropical Storm Chris retained its strength as it headed west toward Cuba on Thursday, prompting authorities to post storm warnings -- meaning severe weather was expected within 24 hours -- for the Turks and Caicos islands and the southeastern Bahamas.
Forecasters had thought Chris would fizzle into a tropical depression before nearing U.S. oil facilities in the Gulf of Mexico, but they said the storm's maximum sustained winds remained near 65 kph and little change in strength was expected through Friday.
At 11 p.m. EDT (0300 GMT), tropical storm watches, meaning storm conditions are expected within 36 hours, were posted for the central Bahamas, and the northern coasts of Haiti and the Dominican Republic.
With Chris only a minimal tropical storm, forecasters' main concern was the up to 5 inches (13 cm) of rain it could dump in mountainous areas.
Chris' center was about 100 km east-southeast of Grand Turk Island, the capital island of the Turks and Caicos chain, at 11 p.m., and heading west near 19 kph. On that track, Chris was expected to pass north of the Dominican Republic and Haiti and near or over the Turks and Caicos on Friday.
It would then cross Cuba and reach the Gulf of Mexico by Monday morning.
Energy prices had eased as Chris weakened. Oil and natural gas prices had risen on the possible threat to drilling platforms and exploration rigs in the Gulf, where hurricanes Katrina and Rita fueled up on unusually warm water before slamming into Louisiana and Texas last year.
The 2005 hurricanes shut a quarter of U.S. crude output and sent oil prices to record highs.
Experts have predicted this year could see another active Atlantic hurricane season, although nothing like the record 28 storms seen in 2005. Chris was the third tropical storm of the 2006 season.
Forecasters lowered their activity predictions for this year Thursday. The Colorado State University team formed by pioneer researcher William Gray predicted up to 15 tropical storms would form in the Atlantic-Caribbean basin, with seven growing into hurricanes.
Earlier forecasts had anticipated up 17 tropical storms, with nine strengthening into hurricanes.
Providential Holdings Announces New Closing Date for Western Medical Asset Purchase Business Wire - August 04, 2006 08:30
LOS ANGELES, Aug 04, 2006 (BUSINESS WIRE) -- Providential Holdings Inc. (OTCBB:PRVH) (www.phiglobal.com) today announced that the closing date for the purchase of Western Medical, Inc.'s assets by Providential Western Medical, Inc., a wholly-owned subsidiary of the Company, has been rescheduled to occur on Friday, August 11, 2006.
Robert Buceta, Chairman of Providential Western Medical, Inc., stated: "We are required to change the closing date to allow enough time for all the key parties involved to adequately prepare for the event and expect to have a smooth transition. We will continue to update our shareholders and the investment community of the new company's developments."
About Western Medical, Inc.
Founded in 1974, Western Medical, Inc. is a provider of durable medical equipment (DME) with Headquarters in Phoenix, AZ, with revenues in excess of $25 million in 2005. Further information about Western Medical can be obtained through its web site www.westernmedicalinc.net.
About Providential Holdings, Inc.
Providential Holdings is a diversified holding company primarily engaged in mergers and acquisitions and independent energy business. The Company acquires and consolidates special opportunities in selective industries to create additional value, acts as an incubator for emerging companies and technologies, and provides financial consultancy and M&A advisory services to U.S. and foreign companies. For more information on Providential Holdings and its subsidiaries, visit http://www.phiglobal.com/.
Safe Harbor: This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.
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News for 'IVGA' - (Invicta Group Inc. Travel Hot Link Website Traffic Increases With 5 Star Ranking)
FT. LAUDERDALE, FL, Aug 04, 2006 (MARKET WIRE via COMTEX) -- Invicta Group Inc. (OTCBB: IVGA) announced today the growth of internet traffic to Travel Hot Link's website (travelhotlink.com). The traffic to the website has grown substantially in the past 3 months. Alexa Internet ranks the website with 5 Stars and provides the following website traffic statistics:
Daily traffic to Travel Hot Link is currently 70,000 viewers with 8.8 pages being viewed by each website viewer (3 month average is 9.3 pages); Travel Hot Link's website ranking is 57,371 from 1,495,389 ranking 3 months ago (best ranking is number 1).
Travel Hot Link is Emailing weekly to 10 million Travel Enthusiasts that are seeking last minute discounted travel offers from travel suppliers. Travel Hot Link's website lists discounted travel offers from many travel suppliers, each offering a discounted rate for their products.
David Scott, COO, states, "We are happy to see the growth of traffic to our website, and appreciate the ranking of a 5 Star website; we will continue to improve the website in an effort to increase traffic and sales."
INVICTA GROUP INC. is an Internet Media Company that specializes in the Travel Industry under the name of Travel Hot Link. Travel Hot Link offers an Internet database of 70 million travel enthusiasts weekly discounted travel products: Airline Tickets, Hotel Rooms, Tour Packages, Cruise Cabins and Car Rentals on the Internet 24/7 through their B-2-C website www.travelhotlink.com.Posts: 1086 | Registered: Oct 2005
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Pilgrim Petroleum Announces Hiring Legal and Accounting Firm in Canada Business Wire - August 04, 2006 06:45
IRVING, Texas, Aug 04, 2006 (BUSINESS WIRE) -- Pilgrim Petroleum Corporation (Pink Sheets: PGPM), an independent oil and gas company, is pleased to announce the Company has begun the process of interviewing Canadian qualified legal and accounting firms for its filing on the Toronto Stock Exchange Venture (TSXV), to become a fully reporting, public company. "At the same time, the company also confirmed its ongoing process for the filing of Form SB-1 with SEC to be listed on the OTCBB; however, hiring a qualified Canadian legal and accounting firm is a crucial step for Pilgrim Petroleum Corporation," stated Rafael Pinedo, Company President and CEO.
Mr. Pinedo said, "Pilgrim Petroleum Corporation is headed in the right direction to get off the Pink sheets (non-reporting status) and become more visible to institutional investors. This move will enhance our efforts to the filing process, improve timing and comply effectively with Canadian legal requirements and more presence on potential acquisitions in province Quebec and Alberta Canada."
About Pilgrim Petroleum Corporation
Headquartered in Irving, Texas, Pilgrim Petroleum Corporation is acquiring oil and gas leases, producing properties, mineral rights, and surface interests primary on marginal fields. Once acquired, the company intends to redevelop each property to maximize the income from each property by refurbishing and improving the existing production.
Forward-Looking Statements: The statements which are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements.
2006 Pilgrim Petroleum Corporation. The information herein is subject to change without notice. Pilgrim Petroleum Corporation shall not be liable for technical or editorial errors or omissions contained herein.
SOURCE: Pilgrim Petroleum Corporation
Pilgrim Petroleum Corporation, Irving Eddie Monet, 619-864-0166 www.apetroleum.com
Copyright Business Wire 2006
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
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Ginseng Rush Increases Distribution Business Wire - August 04, 2006 09:12
BLUE ISLAND, Ill., Aug 04, 2006 (BUSINESS WIRE) -- RushNet, Inc. (Pink Sheets:RSHN) is pleased to announce its successful exhibition at the Kehe Food Distributors National Show July 29-31 in Chicago's McCormick Place. Kehe sells natural, gourmet and ethnic foods to more than 9000 grocery stores in 35 states including Kroger (http://www.hoovers.com/kroger/--ID__10864--/free-co-factsheet.xhtml), Albertson's and H.E.B. (http://www.hoovers.com/h-e-b/--ID__40210--/free-co-factsheet.xhtml). The show was well attended by a wide variety of Chain and Independent Grocery Store Buyers from all over the U.S. Kehe Foods is a key player in the specialty foods distribution arena and offers a wide variety of Natural and Organic products. The employee-owned company was founded in 1952. Photos of RushNet at the show are posted on its website http://www.enjoytherush.com/kehlshow.htm.
RushNet, Inc currently has its Ginseng Rush(R) and Ginseng Rush XXX(TM) beverages placed with Kehe and is working to obtain placement of its e-water(TM). Ginseng Rush(R) and Ginseng Rush XXX(TM) have been approved by Jewel Foods in Chicago for distribution through Kehe and will be soon showing up in over 25 stores throughout the Chicago Metro-Market.
Robert Corr, President of RushNet, stated: "The reality that we are now able to harness and direct the energy of over 800 Kehe sales people and their 15 Regional Managers as they make contact with 9000 key Grocery Buyers and Store Managers is an exciting proposition. We are already seeing great in-roads into new markets that will get our products on the shelf and in front of consumers. The 15 Regional Managers were constantly at our booth to connect us with the key buyers they serviced. Important contacts were made with some chains to do trial store events to test our products prior to actual chain approvals."
RushNet, Inc. is also announcing that it has completed its five minute e-water(TM) info-ad to be played on Comcast Video on Demand in the Chicago regional market and is tentatively scheduled for September 2006 release. This ad can be viewed by clicking on the following link, http://www.plasmadvd.com/ewater.html . A form of this ad will be used in RushNet's advertising and point-of-sale campaign.
Disclaimer: The Company relies upon Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements.
SOURCE: RushNet, Inc.
RushNet, Inc. Robert Corr, 708-389-6625
Copyright Business Wire 2006
-------------------- "As long as there are dreamers, there are dreams that will come true." Posts: 862 | From: CT Yankee..... in FLA | Registered: Aug 2005
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NMXC (.089) Biz Data Solutions Joins New Mexico Software's Reseller Program; Digital Imaging Solutions Provider to Offer DFC3 Document Management Through its 40 Offices and Extensive Distribution Network to Thousands of Clients Aug 4, 2006 9:23:00 AM Copyright Business Wire 2006
New Mexico Software, Inc. (OTCBB:NMXC), http://www.nmxc.net, announced today that Biz Data Solutions, Inc. (http://www.bizds.com) has signed an agreement to market New Mexico Software's DFC3 in all of its 40 U.S. offices. The software solution manages documents and streamlines business processes. Biz Data Solutions will promote the DFC3 via its extensive copier/printer dealer channels.
Bobby Hunt II, president and CEO for Biz Data Solutions, said, "With the DFC3, we can offer comprehensive document capture, conversion, organization and distribution capabilities to our extensive client base and dealer network. We are able to sell the solution as either a hosted service or a full software appliance, which allows us to accommodate clients of any size and allows us a clear path for growth as their needs mature. In addition, we anticipate using the DFC3's Open Application Programming Interface (API) to provide a new custom workflow engine and to integrate with our other flagship products - Navigate, Print Monitor and Form Storm."
Troy C. Lapsys, president of New Mexico Software's Server Division, said, "This is a milestone for our company in that Biz Data Solutions will be an OEM and a reseller of the DFC3. For the first time, New Mexico Software is authorizing a provider to integrate our DFC3 into another company's existing products. Customers will now have the option to buy the DFC3 from us directly or from Biz Data, which can offer specific functionality that we do not provide. We are also dedicated to providing operational cost reductions and exceptional new improvements for Biz Data Solutions clients. Biz Data's software engineering team is going to provide capabilities that we do not provide."
About New Mexico Software
New Mexico Software is a leading provider of information management solutions that significantly improve the interface between the paper world and the digital world, facilitating a true paperless environment. It is the only public company providing web-based integrated services for individuals and companies, large or small, which allows full access to data from anywhere in an easy-to-use, familiar browser environment at an affordable price. For more information, visit http://www.nmxc.net or http://www.nmxs.com, or contact Dick Govatski, president and CEO, at (505) 255-1999 or ceo*nmxs.com .
The foregoing press release contains forward-looking statements including statements regarding the company's expectation of its future business. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the company's control. Actual results could differ materially from these forward-looking statements.
Source: New Mexico Software, Inc.
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New Mexico Software Inc. Albuquerque Dick Govatski 505-255-1999 ceo*nmxs.com
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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Pearl Asian Mining Industries Approaches Completion of the 90% Buy Back MANILA, Philippines--(Business Wire)--Aug. 4, 2006-- Pearl Asian Mining (OTC:PAIM) announced today that it has completed more than 80% of the buyback of its 30 billion common shares bringing the outstanding below 5 billion common shares. However, the Company believes that regardless of the fact that NASD has only published 9 million shares of PAIM on the brand new short-interest list, the system is so new that it has not picked up the real short interest estimated to be in the billions. There may also be confusion from those that are responsible for providing the short interest data to NASD, due the fact that the buy back was not completed at the time of publication, and due to the possibility that preferred shares may have been used to cover up common share shorts. It has also come to light that many have miscalculated that the convertible debentures are convertible to common at .001 when in fact the conversion to common is at the cost of $.01 per share, and miscalculated that the preferred are currently convertible to common at 1,000 to 1 when the current convertibility is 10,000 preferred to 1 common. Shareholders that opt to convert their CDs to common shares at the previously set conversion rate of $0.01 per common share, shall surrender their CD note/s to PAIM or its transfer agent. PAIM shall then effect transfer of common share certificates from its treasury to the CD holder and cancel the surrendered CD from its books. In a similar manner, shareholders may also now convert their preferred shares to common shares. From today up to March 30th, 2007, shareholders may convert at the rate of 10,000 preferred shares for each common share by surrendering their preferred share certificates to PAIM or its transfer agent. PAIM shall then effect transfer of common share certificates from its treasury to the preferred shareholder and move the surrendered preferred shares into its treasury. To reward long-term holders of preferred shares, shareholders who choose to convert their preferred shares to common may do so at the following conversion rates, with more favorable conversion rates for longer holding periods: -0- *T Period Conversion Rate
March 31, 2007-March 30, 2008 5,000 preferred for each common share March 31, 2008-March 30, 2009 2,500 preferred for each common share March 31, 2009-March 30, 2010 1,250 preferred for each common share March 31, 2010-March 30, 2011 625 preferred for each common share March 31, 2011 and after 500 preferred for each common share *T
All CD notes and preferred shares converted to common shares shall be retired. PAIM expects dilution from the aforementioned conversion to be minimal during the first years, considering the favorable terms for long-term holders of the CD notes and preferred shares, not to mention the potential development of separate markets for CD notes in Yellow Sheets and preferred shares under another stock symbol in the Other OTC Market.
FORWARD-LOOKING STATEMENTS;
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. The Factors that could cause actual result to differ materially from anticipated results includes risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks. The risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.
Pearl Asian Mining Industries Inc. Investor Relations Gary Gotanco, 866-732-7888 or 678-570-6538 (USA) or 310-728-6907 or 011 +63.2.490.0140 (Philippines) Fax: 877-317-4430 IR*PearlAsianMining.com www.PearlAsianMining.com
Copyright Business Wire 2006 04Aug06 13:45 GMT Symbols: us;PAIM Source BW Business Wire Categories: MST/I/PCS MST/L/EN MST/R/ASI MST/R/PH TGT/BWB
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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CSMG Technologies Announces 450 Successful Lung Surgical Procedures Completed Business Wire - August 04, 2006 09:55
CORPUS CHRISTI, Texas, Aug 04, 2006 (BUSINESS WIRE) -- CSMG Technologies, Inc. (OTCBB:CTUM), a technology management company focused on commercializing human live tissue bonding devices, announced today that Kiev City Hospital #17, performed 450 successful lung surgeries using the Company's tissue welding technology in both open and thoracoscopic procedures.
The welding technology was used in surgical procedures that included: pneumolysis, pneumotomy, lymphodisseciton, lymph node sampling, wedge lung resections, sealing of peripheral part of the lung vessels. The welding technology is being routinely used for sealing lungs in cases of spontaneous pneumothorax and prolonged air leakage including bullous emphysema where the lung is repaired without removal of lung sections - no sutures, staples, glues or sealants were used.
Dr. Makarov holder of Thoracic Surgery and pulmonology chair at Kiev Medical Academy for Postgraduate Studies said, "There was not one case where there was lung air leakage or infection after the surgical procedure. The surgical procedures on lungs are done almost bloodlessly and the tissue welding method allows us to do surgeries much faster compared to the conventional techniques of suturing and stapling."
CSMG owns the technology and exclusive world rights to the medical device through Live Tissue Connect, Inc., a subsidiary corporation formed for the development and exploitation of the platform technology.
Donald S. Robbins, president and CEO of CSMG, said, "The main advantage of this breakthrough is a shortened surgery time and no foreign staples or sutures are left in the lung. The surgery leaves the healthy lung lobe portion functional in the body while removing the diseased lung lobe tissue."
The tissue welding/bonding technology for repair and reconnection of tissue and hollow organs is smokeless, with little heat migration in the tissue, results in no necrosis and is without the use of foreign matter or conventional wound-closing devices, such as of staples, sutures, glues or sealant. The procedures are almost bloodless. Unlike other tissue coagulation methods that tend to destroy tissue by charring, searing and necrosis, the CSMG-patented technology bonds and reconnects incised tissue using a patented low-heat delivery method aimed at restoring the normal functions of the live organs and tissue. The technology leaves little or no scar visible to the naked eye.
About CSMG Technologies' Tissue Welding/Bonding Technology
Surgeons at 10 Ukraine hospitals and clinics are using the tissue welding/bonding technology in clinical trials, have completed more than 6,000 human surgeries using almost 70 types of open and laparoscopic surgical procedures and demonstrated that the technology is universal in its ability to repair soft biological tissue. These surgeries included lung, neuro-surgery, nasal septum, intestine, stomach, skin, gall bladder, liver, spleen, blood vessels, nerves, alba linea, uterus, bladder, gynecology, fallopian tube, ovary and testicles, dura-matter, with little or no scarring, while restoring the normal function of the body organ or tissue.
The technology was invented and developed at the internationally renowned E.O. Paton Institute of Electric Welding, National Academy of Sciences of Ukraine at Kiev, Ukraine, headed by Professor B.E. Paton. United States and Australia patents have been issued with other U.S. and foreign patents pending.
About CSMG Technologies, Inc.
CSMG Technologies is a technology management company that finances, owns, develops, licenses and markets innovative advanced technologies and business opportunities created in the Ukraine through a network of scientific institutes and private organizations. CSMG has three subsidiaries, Live Tissue Connect, Inc., CSMG Gastech, LLC and Anaerobic Farm Waste, Inc.
For further information on CSMG Technologies and it's various subsidiaries, please visit our website at www.ctum.com.
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934 as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words ``may,'' ``would,'' ``will,'' ``expect,'' ``estimate,'' ``anticipate,'' ``believe,'' ``intend'' and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
SOURCE: CSMG Technologies, Inc.
CSMG Technologies, Inc. Donald S. Robbins, 361-887-7546 or K. Bruce Jones, 770-955-0409 or ROI Group Associates Michael Dodge, 212-495-0744 mdodge*roiny.com or Bob Giordano, 212-495-0201
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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QTCE (.002)Adds Advertising Platform for Mobile Applications Aug 4, 2006 10:00:00 AM 2006 PrimeZone Media Network
LONDON, Aug. 4, 2006 (PRIMEZONE) -- Quantech Electronics Corp. (Pink Sheets:QTCE), software developer for marketing communications, announced that it continues to expand its mobile-based advertising solutions.
"Targeting the small screen has become a major development focus for Quantech," notes Liat Matilsky, CEO of Quantech. "One first thing that's different about mobile is that, unlike conventional online, which is one channel, mobile is made up of four totally different channels. There's the mobile Web, video broadcast and VOD, and also downloadable Java applets and games, and, last but not least, text messaging. So the wealth of targetable data is incredible. Our system offers its customers the option of targeting across all four channels, as a basis for extremely effective customized marketing."
Quantech's new mobile-based advertising solutions are grounded in pinpoint target marketing strategies that help its customers effectively target and deliver ads to the huge audience of mobile phone users. The new system links advertisers and publishers of mobile content together in an exchange that houses all the available ad inventory for mobile in a single Web-based directory, and allows its customers to plan and purchase mobile media down to each target zip code.
"In order to pay for that content, providers need more relevant advertising, and in order to justify that, advertisers need an optimally targetable advertisement platform. Quantech's new systems are uniquely suited to these market trends. We are at the threshold of a collaborative breakthrough based on enlightened self-interest: Carriers want more relevant content," explains Matilsky.
About Quantech
Quantech Electronics Corp. is a web-based software development company based in the UK that offers development services focusing on web-based desktop communication tools, call center support tools, and development packages designed to enhance the effectiveness of web-based advertising and instant messaging. Quantech Electronics Corp. develops powerful, easy-to-use software that enhances the effectiveness and efficiency of its customers' online and offline businesses. Driven to provide comprehensive solution packages for their clients' entire online business needs, Quantech focuses on customized developments for medium to large businesses, as well as start-ups. Offering several unique technologies and forged notable strategic alliances, Quantech's rapid-response systems construct client infrastructure at competitive prices. The company's client base includes medium to large sized businesses, as well as start-ups.
Forward-Looking Statements
Certain statements in this news release may contain 'forward-looking' information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward-looking statements that may involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.
To contact Quantech or access more information, please visit our web site at www.quan-tech.co.uk.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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LAKE HARMONY, PA -- (MARKET WIRE) -- 08/04/06 -- Abazias.com (OTCBB: ABZS) who specializes in diamond engagement rings and just re-launched its website at www.abazias.com with over 80,000 diamonds to choose from, worth over $400 Million dollars, and claims to not only be larger than Blue Nile (NASDAQ: NILE) in selection, but is cheaper in price, and has their own trademarked Couples Diamond, which less than 10% of all diamonds can qualify for, and a brand new 3D ring builder (the first of its kind) was just upgraded by TRI-State Capital CFA Michael Grobler, with a price target of 30 cents. The upgrade can be viewed at http://www.otclive.com/ABZS_Report.pdf. ABZS also had a new analyst report issued by Harbinger Research, by Stephanie Loiacono, CFA, which can be viewed at http://harbingerresearch.com/viewCompany.php?company=34 with a more detailed overview on the company's glowing prospects.
Other active stocks are Cbeyond Communications, Inc. (NASDAQ: CBEY) and Applied Micro Circuits Corporation (NASDAQ: AMCC).
Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. A Third Party has hired and paid $995.00 for the publication and circulation of this report. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. We have no ownership of equity, no representation and do no trading of any kind.
(Exact name of registrant as specified in its charter)
Nevada 000-30567 61-1427156 -------------------------------------------------------------------------------- (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No.)
315 E. Wallace St. Fort Wayne, Indiana 46803 -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (260)456-2354 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On July 19, 2006, the Company entered into a mortgage agreement in the amount of $440,000 with Interbay Funding, LLC. Mortgage note payable due in monthly installments starting on September 1, 2006, with interest, collateralized by real property; unpaid principal due September 1, 2021. Mortgage is also personally guaranteed by the Company's CEO, Ed Miers. Interest at 9.75%.
ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.
The information set forth under Item 1.01, "Entry into a Material Definitive Agreement," is incorporated herein by reference.
ITEM 8.01 OTHER INFORMATION
On June 30, 2006, the Company terminated its relationship with its corporate counsel, Stoecklein Law Group and retained the law offices of Albert J. Rasch and Associates as new corporate counsel, effective August 1, 2006.
On August 2, 2006, the Company's Board of Directors authorized the Company to purchase up to 300 (three hundred) million shares of its common stock in the open market at no more than $0.005 per share, at an estimated price of $1,000,000 (one million) to $1,200,000 (one million two hundred thousand), over the next two years.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
GREM USA
By: /S/ EDWARD MIERS -------------------------------------------- Edward Miers, Chief Executive Officer
Date: August 4, 2006
-------------------- It will run when you least expect it. :) Posts: 1161 | From: NC | Registered: Mar 2005
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Pearl Asian Mining Industries Have signed a 1.5 million contract with Equitable mining corp Friday August 4, 14:29 pm ET
MANILA, Philippines--(Prime Wire)--Aug. 4, 2006--Pearl Asian Mining (OTC:PAIM - News) announced today that it has signed a contract with Equitable mining corporation. The contract has allowed us to increase our liquidity and increase our revenues. The contract is expected to bring us over 1.5 million dollars in revenues in the next 6 months. A follow up pr regarding this will be released in the next week.
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FORWARD-LOOKING STATEMENTS;
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. The Factors that could cause actual result to differ materially from anticipated results includes risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks. The risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.
Contact: Pearl Asian Mining Industries Inc. Investor Relations Gary Gotanco, 866-732-7888 or 678-570-6538 (USA) or 310-728-6907 or 011 +63.2.490.0140 (Philippines) Fax: 877-317-4430 IR*PearlAsianMining.com www.PearlAsianMining.com
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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SSWM Releases Third Quarter Results; Revenue Dips as Contracts Complete While Gross Profit and Cash Increase 8/4/2006
CARLSBAD, Calif., Aug 04, 2006 (BUSINESS WIRE) -- Sub-Surface Waste Management of Delaware, Inc., (OTCBB:SSWM) today announced financial results for the third quarter of fiscal year 2006 ended June 30, 2006. Compared to the third quarter of last fiscal year, revenues decreased by 75% as contracts were completed, while gross profits increased 125%, total shareholder equity was slipped only 1% and operating expenses rose as business development efforts continued strong in Mexico.
For The Nine Months and Three Months Ended June 30, 2006 Compared To The Nine Months and Three Months Ended June 30, 2005.
The Company had revenues of $444,082 and $76,662 during the nine months and three months ended June 30, 2006, a decrease of 28% and 75%, respectively as compared to $616,361 and $303,899 of revenue for the same period in 2005. Revenues for the nine months and three months ended June 30, 2006 consisted primarily of engineering services, construction, and bio-remediation of hydro-carbons in contaminated soil for projects in Mexico. Gross profit for the nine months and three months ended June 30, 2006 was $153,455 and $37,680 or 35% and 49% of sales compared to $155,345 and $16,754 or 25% and 6% of sales for the corresponding period in fiscal 2005. The decrease in revenue is due primarily to the near completion of contracts in Mexico. Higher gross profit percentages were primarily due to decreases in labor costs, and job related travel expenses.
Selling, general and administrative ("SG&A") expenses for the nine months and three months ended June 30, 2006 totaled $1,658,215 and $441,804 respectively, compared to $1,036,971 and $289,311 for the same periods in fiscal 2005. SG&A expenses for the nine months and three months ended June 30, 2006 consisted of occupancy, payroll, accounting, and consulting services. The 60% increase and the 53% increase in SG&A expenses are attributed to licensing agreement fees, consulting expenses related to increases in contracts with an affiliate, consulting fees related to projects in Mexico, expenses related to obtaining additional contracts in Mexico, a $50,000 increase in legal fees, and commission expenses.
The Company incurred a net loss of $1,560,374 and $423,361 for the nine months and three months ended June 30, 2006, had negative cash flows from operations of $722,677 for the nine months ended June 30, 2006 compared to a net loss of $969,069, and $287,623 for the nine months and three months ended June 30,2005, had negative cash flows from operations of $664,605 for the nine months ended June 30, 2005. Basic and diluted net loss per share was $(0.02) and $(0.01) for the nine months and three months ended June 30, 2006, respectively, compared to a loss of $(0.02) and $(0.01) for the nine months and three months ended June 30, 2005.
As of June 30, 2006, the Company had an accumulated deficit of $13,302,449 compared to $11,083,426 as of June 30, 2005. The shareholders equity as of June 30, 2006 was $547,282 compared to $552,965 as of September 30, 2005.
The Company is anticipating that revenues in fiscal 2006 will exceed revenues for fiscal 2005 through expansion of its operations in Mexico. Although based on the current financial condition of the Company, additional capital will be required in order for the Company to maintain its ongoing operations.
Liquidity And Capital Resources.
Cash totaled $139,286 as of June 30, 2006. During the nine months ended June 30, 2006, the Company raised $157,000 net of $5,000 placement fees from issuance of 4,350,000 shares of restricted and unrestricted common stock, including the sale of 150,000 shares of unrestricted common stock to Fusion Capital Fund II, LLC.
As of June 30, 2006 the Company had working capital of $383,100, compared to a negative working capital of $14,111 as of June 30, 2005. Current assets as of June 30, 2006 of $1,050,308 include $465,696 due from affiliates compared to current assets of $1,008,590 included $771,829 due from affiliates for the period ended June 30, 2005.
SSWM CEO Bruce Beattie commented, "Revenue decreased in second quarter as we neared the end of several projects in Mexico while starting newer ones that have little initial revenue recognition in the early stages. Gross profit margins where significantly higher on the reduced revenue and we expect higher revenues in the last quarter as the new projects ramp up now that we have our diagnostic equipment running well in Mexico. The Company anticipates completing the contracting paperwork this quarter for the eleven environmental emergency response centers located throughout the state of Veracruz and plans to start center implementation shortly thereafter."
The consolidated financial data below has been derived from the Company's Financial Statements for the period of 6/30/2006, 6/30/2005 as shown. For additional information and a discussion of risk factors, please see the SSWM current 10Q & past 10K reports at www.sec.gov.
For the 9 For the 9 For the 3 For the 3Consolidated months months months months Statement of ending June ending June ending June ending June Losses 30, 2006 30, 2005 30, 2006 30, 2005 (UNAUDITED) (UNAUDITED) (UNAUDITED) (UNAUDITED)------------- ------------ ------------ ------------ ------------Revenues $ 442,082 $ 616,361 $ 76,662 $ 303,899Cost of Goods Sold $ 290,627 $ 461,016 $ 38,982 $ 287,145Gross Profit (Loss) $ 155,455 $ 155,345 $ 37,680 $ 16,754Operating Expenses - SGA $ 1,658,215 $ 1,036,971 $ 441,804 $ 289,311Operating Expenses - Depreciation $ 18,151 $ 8,887 $ 8,624 $ 4,187Net Income (Loss) from Operations $(1,522,911) $ (890,513) $ (412,748) $ (276,744)Other Income (expense): Interest Income $ 726 $ 1,377 $ 350 $ 1,219 Interest Expense $ (38,189) $ (79,933) $ (10,963) $ (12,098) Total other Income $ (37,463) $ (78,556) $ (10,613) $ (10,879)Net Income (loss) before Income taxes $(1,560,374) $ (969,069) $ (423,361) $ (287,623)Provision for income taxesNet income (loss) $(1,560,374) $ (969,069) $ (423,361) $ (287,623)Net loss per common shares outstanding $ (0.02) $ (0.02) $ (0.01) $ (0.01)Weighted average shares outstanding $72,665,406 $40,034,497 $83,120,760 $43,870,248Balance Sheet As of As of As of Items 6/30/2006 6/30/2005 9/30/2005Total Cash $ 139,286 $ 17,075 $ 7,098Total Current Assets $ 1,050,308 $ 1,008,590 $ 1,194,608Total Current Liabilities $ 667,208 $ 1,022,701 $ 763,798Net Working Capital $ 383,100 $ (14,111) $ 430,810Total Assets $ 1,214,490 $ 1,278,852 $ 1,316,763Total Liabilities $ 667,208 $ 1,022,701 $ 763,798Total Shareholder Equity $ 547,282 $ 256,151 $ 552,965 About Sub-Surface Waste Management
Sub-Surface Waste Management Inc. is a majority owned subsidiary of U.S. Microbics, Inc. (OTCBB:BUGS) and provides comprehensive civil and environmental engineering project management services including specialists to design, permit, build and operate environmental waste clean-up treatment systems using conventional, biological and filtration technologies. SSWM is capitalizing on its patented technologies registered in Mexico with SEMARNAT, a Federal regulatory agency overseeing environmental compliance nationwide.
Investors and media contact Bruce Beattie at 760/918-1860, ext. 105 or bbeattie*bugsatwork.com; or learn about the company by visiting its Web site at www.subsurfacewastemanagement.com.
The information contained in this press release includes forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect" or similar expressions that involve risks and uncertainties. These risks and uncertainties include the company's status as a startup company with uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The company's actual results could differ materially from those discussed herein. Factors that could cause or contribute to such differences are discussed more fully in the "Risk Factors," "Management's Discussion and Analysis or Plan of Operation" and other sections of the company's Form 10-KSB and other publicly available information regarding the company on file with the Securities and Exchange Commission. The company will provide you with copies of this information upon request.
SOURCE: Sub-Surface Waste Management of Delaware, Inc.
Sub-Surface Waste Management of Delaware, Inc. Bruce Beattie, 760-918-1860, ext. 105 bbeattie*bugsatwork.com www.subsurfacewastemanagement.com
Copyright Business Wire 2006
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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- RushNet Inc. Enters Into Agreement to Purchase Chicago Beverage Distributor
Friday , August 04, 2006 14:26 ET
BLUE ISLAND, Ill., Aug 04, 2006 (BUSINESS WIRE) -- RushNet, Inc. (Pink Sheets:RSHN), the Chicago-based marketing company for Rush Beverage Co. and brand owner of e-water(TM), announces the signing of a Letter of Intent to Purchase Garden Beverage, Inc. Garden is an established, privately held specialty beverage distributor based in Chicago with over 2000 retail accounts.
Garden Beverage, founded in 2003 and has grown exponentially since its inception. The distributor projects 2006 sales to exceed $5.4 million and its customer base of over 2000 accounts is growing. Garden Beverage's distribution encompasses the Metro-Chicago market and extends into Northwest Indiana - distributing over 12 brands (62 items), with Arizona Tea as its flagship.
Under the terms of the agreement, RushNet enters into a 90 day due diligence period with Garden Beverage, wherein the company's financials are assessed along with operations and sales strategies. During this period, Rush also determines the synergies that can be leveraged using Garden's distribution of Rush's present brands to their captive audience.
RushNet plans to incorporate Ginseng Rush(R), Ginseng Rush XXX(TM), Rush Cola(TM) and e-water(TM) into the Garden Beverage system throughout the due diligence period. The strategy allows RushNet to develop new DSD (Direct Store Distribution) customers and refine the sales and marketing programs so they can be replicated nationally. RushNet also sees great potential for introduction of its single use energy supplement products, through Garden with their C-Store and Gas Station customer base.
President & CEO of RushNet, Inc. Bob Corr remarks: "We feel this was always the direction we wanted to take, but could not find the right fit until we found Garden, and we've been watching them for six months. Distribution is the key to growth, success and longevity in the beverage industry. Controlling your distribution is controlling your destiny. This is the paradigm that is proven in this industry over and over, most recently with Hansen Beverage's success story. Hansen's (HANS) built their distribution in their own backyard (California) and expanded nationally. The rest is history as they've grown to over $350 million in sales and with a share price in the $40 range. Our plan is to do the same, starting with the Chicago market. Chicago is our hometown and we plan to develop it as our launching point." This is a significant milestone in the company's future, as well as bonanza for our stockholders.
The purchase of Garden Beverage gives RushNet, Inc. access to the large and rapidly growing Chicago Hispanic market, and it intends to leverage its recent Mexican distribution success here with its array of beverages. See today's Chicago Tribune's article on the market's dynamics.
Hispanics Propel Growth in Suburbs - Chicago Tribune, 4 August 2006 www.chicagotribune.com/search/dispatcher.front?Query=hispanics+ propel&target=article (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.)
Disclaimer: The Company relies upon Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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KENNESAW, Ga., Aug. 4 /PRNewswire-FirstCall/ -- Conversion Solutions Holdings Corp (OTC Bulletin Board: FHAL), a Delaware Corporation updates shareholders. We had a few extended delays that were caused by confusion over the merger; generally the trading entity name and symbol survive in this type of reorganization. The delays involved the reorganized entity name and CUSIP number; all problems have been solved and the New CUSIP is as follows: ISSUER: CONVERSION SOLUTIONS HOLDINGS CORP CUSIP NUMBER: 21254V 10 0 ISIN NUMBER: US21254V1008 ISSUE DESCRIPTION: COM The required documentation was submitted to NASDAQ for the new Symbol and merger requirements. We should have our new symbol as early as Monday, August 7, 2006. "I would like to thank each and every sustaining shareholder for their support. All business should move in an expeditious manner from this point forward," stated Rufus Paul Harris. About Conversion Solutions Holdings Corp CSHC is a diversified holdings corporation, which was formed to originate, fund and source funding for asset-based transactions in the private market. CSHC's main service will be to acquire, fund and provide insurance to target companies in the currently underserved $15,000,000 to $100,000,000 asset finance market. Our funding will enable our businesses to compete more effectively, improve operations and increase value. CSHC is headquartered in Kennesaw, Georgia, a suburb of Atlanta. For more information, please visit us at http://www.cvsu.us. SOURCE Conversion Solutions Holdings Corp
Contact Information: Rufus Paul Harris of Conversion Solutions Holdings Corp, +1-770-420-8270, or Harris*cvsu.us
posted
This PR appears to be BS. Sorry got it from IHUB.
quote:Originally posted by J_U_ICE: PAIM .003
Pearl Asian Mining Industries Have signed a 1.5 million contract with Equitable mining corp Friday August 4, 14:29 pm ET
MANILA, Philippines--(Prime Wire)--Aug. 4, 2006--Pearl Asian Mining (OTC:PAIM - News) announced today that it has signed a contract with Equitable mining corporation. The contract has allowed us to increase our liquidity and increase our revenues. The contract is expected to bring us over 1.5 million dollars in revenues in the next 6 months. A follow up pr regarding this will be released in the next week.
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FORWARD-LOOKING STATEMENTS;
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. The Factors that could cause actual result to differ materially from anticipated results includes risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks. The risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.
Contact: Pearl Asian Mining Industries Inc. Investor Relations Gary Gotanco, 866-732-7888 or 678-570-6538 (USA) or 310-728-6907 or 011 +63.2.490.0140 (Philippines) Fax: 877-317-4430 IR*PearlAsianMining.com www.PearlAsianMining.com
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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