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STTC (.018) Sets Record Month, Reports Q1 Preliminary Results
PrimeZone "PrimeZone "
ISELIN, N.J., May 2, 2007 (PRIME NEWSWIRE) -- SoftNet Technology Corporation (OTCBB:STTC) (German WKN:TG6) is pleased to report, on an un-audited and preliminary basis, results for the first quarter, 2007 and a monthly revenue record achieved in March.
Sales generated from all channels and practices contributed to a new monthly sales record of $836,400 for March. This equates to a $10 million annual run rate, based on the monthly results. In addition, preliminary estimates indicate the Company will report further progress in its effort to achieve profitability.
"The Company continues to make progress on all financial metrics. The record March is a milestone the employee team is proud of. All practices contributed to these results. Even with a calendar uplift for the month the results indicate a solid performance. On the profitability goal the Company is clearly progressing and is within striking distance," said Jim Booth-CEO.
The Company recorded, preliminarily, sales of $2,084,000 for Q1, 2007. This compares very favorably to the same period in 2006 when the Company reported quarterly revenue of $1,093,500. This is the first reporting period where a comparison of year to year continuing operations is possible.
Commenting on the Q1 results Mr. Booth reported: "The first quarter results continued the sales trend established last year and is the fifth consecutive quarter of increased revenue. The Company was pleased with the strong finish as the early months are traditionally slower due to the uncertainty of budgets and projects being renewed. While the Company did experience a limited number of project cancellations, new clients, projects and engagements were secured, contributing to the overall results of the quarter."
Please visit our website at http://www.softnettechnology.com for more information. For Investor Relations, please contact James Booth, CEO, at 908-212-1799, option 7.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by SoftNet Technology Corp. (STTC) may differ materially from these statements due to a number of factors. STTC assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.
CONTACT: SoftNet Technology Corporation Investor Relations James Booth, CEO 908-212-1799, option 7 http://www.softnettechnology.com
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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MCTI(.31) Reports First Quarter 2007 Results 5/2/2007
ST. PAUL, Minn., May 02, 2007 (BUSINESS WIRE) -- Micro Component Technology, Inc. (OTCBB:MCTI) today reported results for its first quarter of 2007. Net sales for the first quarter of 2007 were $3.3 million, an increase of 41% from net sales of $2.4 million for the first quarter of 2006 and up 17% from the fourth quarter of 2006. Net loss was $.2 million, or $0.00 per share in the first quarter of 2007, compared to net loss of $1.1 million or $0.04 per share in the comparable prior year period.
MCT's President, Chairman and Chief Executive Officer, Roger E. Gower, commented: "This quarter's solid performance, with revenue increases of 41% over the first quarter of 2006 and 17% over the fourth quarter of 2006, reflected the solid bookings received during this period. Our financial performance in the quarter included both positive cash flow and EBITDA in excess of $280K, and it appears that our increasing bookings activity has continued into the second quarter. Improvements in cash flows, gross margins and bookings are all linked to the increasing market acceptance of our latest Tri-Temperature Strip Test Handler offering. Simply stated, Strip Test and MCT continue to grow despite various statements regarding weak and uncertain test handler market trends," concluded Gower.
MCT is a leading manufacturer of test handling and automation solutions satisfying the complete range of handling requirements of the global semiconductor industry. MCT has recently introduced several new products under its Smart Solutions(TM) line of automation products, including Tapestry(R), SmartMark(TM), SmartSort(TM), and SmartTrak(TM), which are designed to automate the back-end of the semiconductor manufacturing process. MCT believes it has the largest installed IC test handler base of any manufacturer, with over 11,000 units worldwide. MCT is headquartered in St. Paul, Minnesota, with its core manufacturing operation in Penang, Malaysia. MCT is traded on the OTC Bulletin Board under the symbol MCTI.
For more information on the Company, visit its web site at http://www.mct.com
Except for the historical information contained herein, the matters discussed in this news release are forward looking statements that involve risks and uncertainties, including the timely development and acceptance of new products, the impact of competitive products and pricing, the impact on cash and results of operations from a flattening or renewed downturn in the semiconductor capital equipment market, the need for additional financing, and the other factors detailed from time to time in the Company's SEC reports, including but not limited to the discussion in the Risk Factors and Management's Discussion & Analysis included in Form 10-K for the year ended December 31, 2006.
Condensed Consolidated Statements of Operations (Unaudited)(In thousands, except per share data) Three months ended ----------------------- March 31, April 1 2007 2006 ----------- -----------Net sales $3,337 $2,375Cost of sales 1,604 1,181 ----------- -----------Gross profit 1,773 1,194Gross margin 52.5% 50.3%Selling, general and administrative 1,105 945Research and development cost 500 518 ----------- -----------Total operating expenses 1,605 1,463Operating income (loss) (168) (269)Interest and other (327) (814) ----------- -----------Net income (loss) $(159) $(1,083) =========== ===========Net income (loss) per share - basic and diluted $(0.00) $(0.04) =========== ===========Weighted average shares outstanding:Basic 36,665 27,225 =========== ===========Diluted 36,665 27,225 =========== ===========Condensed Consolidated Balance Sheets (Unaudited)(In thousands) March 31 Dec 31, 2007 2006 ----------- -----------Assets Current assets Cash and cash equivalents $354 $200 Accounts receivable, net 2,648 2,816 Inventories, net 2,464 2,016 Other current assets 159 169 ----------- ----------- Total current assets 5,625 5,201 Property, net 104 91 Debt issue costs and other, net 286 264 ----------- ----------- Total assets $6,015 $5,556 =========== ===========Liabilities and Stockholders' Deficit Current liabilities Accounts payable $945 $440 Bank line of credit 3,873 3,906 Accrued liabilities 1,366 1,291 Current portions of long-term obligations 1,467 228 ----------- ----------- Total current liabilities 7,651 5,865 Long-term debt 3,206 5,506 Total stockholders' deficit (4,842) (5,815) ----------- ----------- Total liabilities and stockholders' deficit $6,015 $5,556 =========== =========== SOURCE: Micro Component Technology, Inc.
Micro Component Technology, Inc. Roger E. Gower, President/C.E.O., 651-697-4000 or Michelle Sprunck, Investor Relations, 651-697-4026
Copyright Business Wire 2007
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NNAN(.24) and Cascade Engineering Sign Joint Development Agreement Companies to Develop Practical Applications for Cutting-Edge Pleximer(TM) Nanocomposite May 2, 2007 4:21:00 PM ROCHESTER, NY -- (MARKET WIRE) -- 05/02/07 -- NaturalNano, Inc. (OTCBB: NNAN) (FRANKFURT: N3N) (www.naturalnano.com), an innovative materials science company, today announced that it has entered into a Joint Development Agreement (JDA) with Cascade Engineering, a leading developer and manufacturer of innovative plastics solutions for multiple markets, including the polymer composites industry. This is the second JDA that NaturalNano has announced in the second quarter of 2007.
The new partnership will center on commercializing NaturalNano's Pleximer(TM) products for a wide-range of industries. Pleximer(TM), an innovative turn-key nanocomposite additive, will have a substantial impact on the properties of polymer composites, namely enabling the development of stronger, lighter materials. Pleximer provides a low cost alternative for the polymer nanocomposites market, which is the fastest growing segment of the polymer composites industry. The segment is predicted to more than double in size from $300M today to $740M by 2010.
"We are looking forward to working with NaturalNano to develop a product whose virtually limitless applications have the potential to substantially improve the design and safety of the everyday products people use," said Fred Keller, Cascade Engineering's Chairman, President and CEO. "With its focus on strengthening products at the Nano scale and potentially extending their life cycle, our partnership is also an excellent opportunity for Cascade to undertake yet another strategic initiative that advances sustainability and helps leave a smaller environmental footprint."
"Our partnership with Cascade Engineering is a critical step in our path to Pleximer's commercialization and introduction into the market in 2007," said Cathy Fleischer, PhD, President and Chief Technology Officer of NaturalNano. "By combining our halloysite nanotube surface functionalization and compatibilization technology with Cascade's expertise in polymer compounding and molding, we will be able to meet our Pleximer commercialization timeline. In addition, this will help us to produce materials with unique characteristics to create the next generation of products."
Both NaturalNano and Cascade Engineering anticipate applications in numerous products, leading to utilization of filled halloysite nanotubes (HNT(TM)) to develop materials with unique functionality such as flame retardance and antimicrobial properties.
The companies' joint development collaboration is an important benchmark in Pleximer's development timeline. Over the last several months, NaturalNano demonstrated the production of polypropylene and nylon Pleximer on a pilot and manufacturing scale. The resulting materials exhibited excellent dispersion and improved the mechanical properties of the polymer. The highly concentrated Pleximer product would be added to pure polymer in the final molding process by Cascade Engineering to obtain nanocomposite materials with the desired properties for a wide-range of applications.
NaturalNano and Cascade Engineering now plan to pursue jointly developed accreditation testing, application definitions and formula optimization that will be used in the pilot and manufacturing processes to produce Pleximer-based nanocomposites for multiple polymer systems.
About Cascade Engineering: Based in Grand Rapids, Michigan, Cascade Engineering is shaping ideas in plastics through the development, engineering and manufacturing of plastics products. The Company is a leader in engineered plastic systems and components for the solid waste, automotive and industrial markets. The Company also produces components for OEM customers as well as Cascade Engineering branded products. Cascade Engineering is also widely recognized for its sustainable business and management practices. For more information, please visit http://www.cascadeng.com
About NaturalNano, Inc.: NaturalNano, Inc. (OTCBB: NNAN) (FRANKFURT: N3N) is a nanotechnology and materials science company developing proprietary technologies and processes for adding competitive properties to a wide-range of applications. These include industrial polymers, plastics and composites; and additives to cosmetics, personal care, and other products. NaturalNano holds and licenses over twenty patents and applications, as well as proprietary know-how for extraction and separation processes, compositions, and derivatives of halloysite and other nanotubes. For more information, please visit http://www.naturalnano.com
Cautionary Statement Regarding Forward-Looking Statements: This press release may contain forward-looking statements regarding future events and future performance of NaturalNano that involve risks and uncertainties that could materially affect actual results. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of NaturalNano's filings with the Securities and Exchange Commission. The most recent annual reports on Form 10-KSB and quarterly reports on Form 10-QSB filed by NaturalNano provide information about these factors, which may be revised or supplemented in future reports to the SEC on those forms or on Form 8-K. We caution investors not to place undue reliance on forward-looking statements, and we do not undertake any obligation to update or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other such factors that affect the subject of these statements, except where expressly required by law.
Media Contacts:
NaturalNano, Inc. Ginny Brandreth 585-267-4810 Email Contact
Cascade Engineering Patrick Kane Lambert, Edwards & Assoc. 616-233-0500 Email Contact
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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CMDA(.021) Director Resignations May 2, 2007 6:00:00 PM GUANGZHOU, CHINA -- (MARKET WIRE) -- 05/02/07 -- China Media1 Corp. (OTCBB: CMDA) hereby announces that Ernest Cheung and Danny Hon have resigned from the Company in all capacities effective May 3, 2007. Company CEO Hanxiong Cai will assume their responsibilities on an interim basis until replacements are found.
Forward-Looking Statements:
Any forward-looking statement in this press release is made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors, technological developments, regulatory matters and increased competition. The Company disclaims any obligation to update any such factors or to publicly announce results of any revisions to the forward-looking statements contained herein to reflect future events or developments.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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Esprit Financial Group Inc. (Esprit) (EFGO.PK) Invites Forex User's to Participate in Quality Control Survey Thursday May 3, 6:00 am ET
LAS VEGAS, NV, May 3 /PRNewswire-FirstCall/ - Esprit Financial Group Inc. (ESPRIT) (EFGO.PK), www.espritfinancialgroup.com, is asking forex traders for input on the Cashnow.com forex website, launched last month. The survey is designed to solicit feedback regarding the functionality of the forex trading platform at the cashnow.com website. ADVERTISEMENT
Richard Sciacchetano, head of Esprit's forex trading divisions summarized, "The cashnow.com website has now been operational for about one month now. We want to get as much input as possible from traders to ensure that the platform is meeting their needs and expectations. The survey itself will only take a couple of minutes to complete. If there are any quality control issues, we want to know about them as soon as possible, and address them immediately. We want to ensure the trading platform is meeting users' expectations, prior to our marketing launch. Importantly, we want to capture as much information as possible, and use that information to conduct an internal audit. The completion of this audit is detrimental to us. This information will allow us to tabulate future revenues, to project future growth, and to plan on budgeting towards the advertising budget. The objective of our goal is to compile all of this data from our active traders, and to allow our CFO to issue a 12 month revenue guidance within the next 3 to 4 weeks for Esprit. The survey can be accessed from both the Espritfinancialgroup.com website, as well as at cashnow.com."
In addition, traders are invited to take the survey by visiting this link directly:
Sciacchetano added, "We would like to thank all participants for their input. We will post a summary of the feedback within our Town Hall section of the espritfinancialgroup.com website."
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James Monroe Capital Enters into Talks with an Oil Company For a Possible Joint Venture 9 minutes ago - BusinessWire Frank Love, the president of James Monroe Capital (PINK SHEETS:JMCP), is pleased to announce that James Monroe Capital has entered into talks with an oil company that has up to $270 million dollars of unrefined crude. The value of this inventory has not been realized due to two factors.
Firstly, the oil company needed financing to obtain the processing equipment to be placed at the various sites where this inventory sits. This will be one of the terms that James Monroe Capital may have to fulfill. In addition, this may help shareholders understand the reason behind acquiring a gold asset.
Secondly, the oil company needed the technical expertise through a solution in obtaining the oil from its present state. Frank Love states, "We are based in Texas (The Big Oil Patch) and with my knowledge and that of my contacts, we have helped to obtain the solution to this Company's rather complex problem."
Details will be announced in the very near future once the deal has been finalized.
Frank Love states, "This is an extremely exciting time for James Monroe Capital, its Subsidiary and its Loyal Shareholders. We could potentially have significant revenues."
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
SOURCE: James Monroe Capital Corp.
James Monroe Capital Corp., Killeen Frank Love, 254-458-0473 http://www.jamesmonroecapital.com/ or Chinook Investor Relations Group LLC Harold Engel info*chinookinvestmentgroup.com
-------------------- "No nation was ever ruined by trade." Benjamin Franklin Posts: 533 | From: Dooville, Indiana | Registered: Jul 2006
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USXP(.0007) Announces Recent Bull and Bear Report May 3, 2007 3:53:00 PM NEW YORK, NY -- (MARKET WIRE) -- 05/03/07 -- Universal Express, Inc. (OTCBB: USXP) today announced The Bull and Bear Report on Universal Express titled, "Universal Express on the Fast Track to Leadership in the Luggage Logistics Industry," is available for viewing. This report gives an all encompassing look at Universal Express and its subsidiaries, divisions, sports marketing initiatives, and more.
"The Bull and Bear Report is an excellent resource for anyone looking to find out more about Universal Express, and gives an excellent view of our company and divisions, as well as our willingness to take on creative ventures to be winners in the Transportation and Logistics Industry," said Richard A. Altomare, Chairman and CEO of Universal Express, Inc.
For those seeking more information on Universal Express, current and past interviews, articles, news and events can be found by going to Universal's website at www.usxp.com.
About Universal Express
Universal Express, Inc. is a 23-year-old logistics and transportation conglomerate with multiple developing subsidiaries and services. For additional information please visit www.usxp.com.
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, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
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Contact Info:
Mark Falk Universal Express, Inc. 561-367-6177 Email Contact
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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ITRO(.021) Environmentally Beneficial Fertilizer Making TV Debut RENO, Nev., May 3 /PRNewswire-FirstCall/ -- Itronics Inc. (OTC Bulletin Board: ITRO; Frankfurt and Berlin Stock Exchanges: ITG) is going Hollywood!
The NBC TV Coordinator of Props asked Itronics to supply 2 1/2 gallon sized labeled containers of its GOLD'n GRO fertilizer for an episode of the well rated program 'Crossing Jordan.' The episode featuring Itronics' fertilizer will air on May 9 at 9 p.m. As they say: Check your local listings. Itronics was told its product will be visible to viewers.
'Crossing Jordan,' which premiered in 2001, is a crime drama starring Jill Hennessy as the crime solving medical examiner Jordan Cavanaugh. It is set in Boston.
'We don't know why they picked us, other than someone in environmentally conscious Hollywood might have known that our fertilizer is environmentally beneficial and is derived from turning wastes into a very useful products,' said Dr. John Whitney, President.
About Itronics
Itronics, through its subsidiary, Itronics Metallurgical, Inc., is the only company in the world with a fully permitted 'Beneficial Use Photochemical, Silver, and Water Recycling' plant located in the United States which can convert used photoliquids into pure silver and liquid fertilizers. At the Company's Reno, Nevada factory more than 99 percent of the silver and virtually all the other toxic heavy metals are extracted from used photoliquids. The purified liquids are converted into environmentally beneficial, chelated, micronutrient and multinutrient liquid fertilizers sold under the GOLD'n GRO trademark. The silver is refined and sold as bullion and 5 troy ounce, 0.999 pure, Silver Nevada Miner numismatic bars. The environmentally friendly liquid fertilizers can be used for lawns and houseplants, and are available, along with GOLD'n GRO liquid fertilizer injectors, at the Company's 'e-store' catalog at http://goldngro.com . The popular Silver Nevada Miner bars are available at the Company's 'e-store' catalog at http://www.itromet.com .
Headquartered in Reno, Nevada, Itronics Inc. is a 'Creative Environmental Technology' company and a world leader in photochemical recycling. The Company also provides project planning and technical services to the gold mining industry and operates a global Gold Producing Stocks web site, http://www.insidemetals.com . Itronics has received numerous domestic and international awards that recognize its ability to successfully create and implement new recycling and fertilizer technologies.
* * * * * * * * * * VISIT OUR WEB SITE: http://www.itronics.com ('Safe Harbor' Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.)
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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