posted
QTCE (.0016)Obtains Status of Prospective Anheuser-Busch Supplier >LONDON, Aug. 18, 2006 (PRIMEZONE) -- Quantech Electronics Corp. (Pink Sheets:QTCE), software developer for marketing communications, announced today that Quantech has been approved as a prospective supplier to Anheuser Busch (http://www.anheuser-busch.com).
Anheuser-Busch, world leader in diverse operations including beer, adventure park entertainment and packaging, approved prospective supplier status for Quantech after a thorough examination of the company's services and capabilities. Anheuser-Busch also has interests in aluminum beverage container recycling, malt production, rice milling, real estate development, turf farming, metalized paper label printing and transportation services.
"This is a promising step forward for Quantech and will have a significant effect on its recent penetration efforts of the new friction-free marketing system, as well as expanded growth for its other developments. Being selected as a supplier of such a powerful global company as Anheuser-Busch definitely is an outstanding source of business potential for Quantech and its development," says Liat Matilsky, CEO of Quantech.
About Quantech
Quantech Electronics Corp. is a web-based software development company based in the U.K., 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.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
TLPE (.169) CORRECTION - TelePlus Q2 Sales Reach $6.5M, Operating Income $247k and Operating Cash Flow $1.6M, Setting the Pace fo YTD Sales Now Reach $13.2M and Operating Income $511k
MONTREAL -- (MARKET WIRE) -- 08/18/06 -- TelePlus Enterprises, Inc. (OTCBB: TLPE) (FRANKFURT: YT3) (http://www.teleplus.ca) ("TelePlus" or the "Company") In a press release issued on August 15, 2006 by TelePlus, under the Condensed Consolidated Statements of Operations and Accumulated Other Comprehensive Income (Loss) for the Six and Three Months Ended June 30, 2006, the General, Administrative and Selling fields should read as follows:
TELEPLUS ENTERPRISES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
FOR THE SIX AND THREE MONTHS ENDED JUNE 30, 2006 AND 2005
(UNAUDITED)
IN US$
SIX MONTHS ENDED THREE MONTHS ENDED
JUNE 30, JUNE 30,
2006 2005 2006 2005
------------ ----------- ----------- ----------
(Restated) (Restated) GENERAL, ADMINISTRATIVE AND SELLING 4,768,964 647,545 2,362,769 415,419
All other fields, including Total Operating Expenses, Total Revenues and Operating Income remain unchanged.
TelePlus Enterprises, Inc. ("TelePlus") is a diversified North American telecommunications company with offices in Miami, Florida; Cleveland, Ohio; Montreal, Quebec; and Barrie, Ontario. TelePlus was founded in 1999 and it has since become a leading provider of wireless and telecommunications products and services across the U.S.A. and Canada. In October 2003, TelePlus became a publicly traded Company on the OTCBB under the symbol TLPE and since then it has continued to grow organically and through strategic acquisitions. The company's wholly-owned subsidiaries include TelePlus Wireless, Corp. which operates a prepaid MVNO (Mobile Virtual Network Operator) under the Liberty Wireless brand; Maximo Impact, Corp. which operates a pay-as-you-go MVNO under the MX Mobile brand and TelePlus Connect, Corp. which resells landline, long distance and internet services under the Telizon, Freedom and Liberty brands. The company's websites include http://www.libertywireless.com,http://www.vivaliberty.com,http://www.maximoimpact.com and http://www.telizon.biz among others.
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development and acquisition of new product lines and services, government approval processes, the impact of competitive products or pricing from technological changes, the effect of economic conditions and other uncertainties, and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. TelePlus Enterprises, Inc. takes no obligation to update or correct forward-looking statements.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
MIVT (.575) Files Three New US Patents for Breakthrough Stroke-Preventing Technology from SagaX Subsidiary; Compan Business Editors / Health/Medical Writers
ATLANTA--(BUSINESS WIRE)--Aug. 18, 2006-- MIV Therapeutics (OTCBB:MIVT) (FWB:MIV), a leading developer of next-generation biocompatible coatings and advanced drug delivery systems for cardiovascular stents and other implantable medical devices, has announced that its subsidiary, SagaX, has filed three new patents with the U.S. Patent Office related to a proprietary implantable filtration device designed to help prevent common stoke complications during and after a range of common invasive heart procedures.
SagaX is developing the Aortic Embolic Stroke Protection device (AEPD). It is designed to be implanted during invasive heart procedures and the technology may also have broad preventative applications during many minimally invasive alternatives to surgery. It may also have further applications for long term use in patients who suffer from diseases that put them at greater risk for stroke such as atrial fibrillation. The market for AEPD is estimated to exceed $1.5 to $1.8 billion by 2009.
"These patents represent significant milestones that further extend MIVT's leadership in this very important area of emerging medical technology," said Dr. Mark Landy, President of MIVT. "Strokes are devastating to so many patients and families, and their prevention would help millions of cardiac patients and doctors worldwide."
According to a recent publication of the American Heart Association (AHA), each year about 700,000 Americans experience a new or recurrent stroke. It is estimated that the direct and indirect cost of stroke in the U.S. alone now total $57.9 billion annually.
The three recent SagaX patent applications cover different types of filtration device configurations and the use of different filtration technologies. These include designs and systems to position the device within the aorta below the carotid arteries and very importantly systems to retrieve the embolic protection devices via a catheter after several weeks or months. These systems will enable physicians to use the devices for many types of procedures, giving them the flexibility to either remove the device or leave it in situ (implanted).
"We continue to see an improvement in refinements and performance of this groundbreaking device that we believe will greatly reduce complications related to stroke following cardiac surgery," said Dr. Dov Shimon, Chief Medical Officer of MIVT, who founded SagaX and leads it. "Our latest refinements are designed to enable significant improvements in the device's flexibility, expanding their range of medical applications."
MIVT's wholly-owned subsidiary SagaX develops proprietary solutions to prevent imminent stroke and other common and serious complications that can result from cardiac procedures, in addition to naturally occurring cardio-embolic strokes. SagaX R&D center is located in Herzliya, Israel. The activity was not affected by the hostilities in the region. SagaX is in the process of developing other proprietary developments in the arena of neurovascular interventions and brain protection. Stroke is the third leading cause of death and the leading cause of disability in the world.
The SagaX Aortic Embolic Protection Device (AEPD) is placed in the aorta -- the main artery that send blood to the brain arteries -- to filter and capture embolic particles that can cause strokes. The filtration is designed to prevent the embolic particles, mostly blood clots, from traveling in the direction of the patient's brain. If emboli reach the brain, they will cut off blood flow, triggering strokes in minutes. Such emboli are one of the chief causes of strokes.
About MIV Therapeutics Inc.
MIV Therapeutics is developing a next-generation line of advanced biocompatible coatings for passive and drug-eluting applications on cardiovascular stents and a broad range of other implantable medical devices. The Company's ultra-thin coating formulation is designed to protect surrounding tissue from potentially harmful interactions with bare metallic stents. The Company's unique ultra-thin coating platform is derived from an organic material called hydroxyapatite (HAp) which has demonstrated excellent safety and biocompatibility in vivo animal studies. Hydroxyapatite is a bioactive porous material that makes up the bone mineral and matrix of teeth and is used today as a bone substitute material and for coatings on implantable fixation devices in orthopedic, dental and other applications. The Company's novel polymer-free drug eluting technologies based on Hydroxyapatite could also provide an alternative to current polymer-based drug eluting coatings on the stent market, which have been associated with undesirable severe medical effects. The Company's drug eluting coatings are additionally designed to suit a broad range of implantable medical devices that could benefit from highly customizable drug release profiles. MIVT has a Collaborative Research Agreement (CRA) with the University of British Columbia under the National Research Council-Industrial Research Assistance Program (NRC-IRAP). Under this sponsorship, the Company is expected to complete its drug-eluting research and development program and to reach product commercialization stage. For more information, please visit http://www.trilogy-capital.com/tcp/mivt/website.html. To read or download MIV Therapeutics' Investor Fact Sheet, visit http://www.trilogy-capital.com/tcp/mivt/factsheet.html. To obtain daily and historical Company stock quote data, and recent Company news releases, visit http://www.trilogy-capital.com/tcp/html/mivt.htm. MIVT is traded on the Frankfurt, Germany, stock exchange under the symbol MIV.
Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Such statements are indicated by words or phrases such as "believe," "will," "breakthrough," "significant," "indicated," "feel," "revolutionary," "should," "ideal," "extremely" and "excited." These statements are made under "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See the Company's filings with the Securities and Exchange Commission including, without limitation, the Company's recent Form 10-K and Form 10-Qs, which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
KEYWORD: NORTH AMERICA GEORGIA UNITED STATES INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY MEDICAL DEVICES PRODUCT/SERVICE SOURCE: MIV Therapeutics Inc.
CONTACT INFORMATION: MIV Therapeutics Inc. Investor Relations, 604-301-9545 x14 Toll-free: 800-221-5108 Fax: 604-301-9546 investor*mivtherapeutics.com http://www.mivtherapeutics.com/ or for Product Inquiries and Business Opportunities: Arc Rajtar, 604-301-9545 Ext. 22 arajtar*mivi.ca or Trilogy Capital Partners Paul Karon, Toll-free: 800-592-6067 paul*trilogy-capital.com
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
CPKJ (.50)Finalizes Agreement to Acquire Inversion Solida Mexico Forward Stock Split, Name Change, and Symbol Change Planned
DALLAS, TX -- (MARKET WIRE) -- 08/18/06 -- Choicepoker.com Inc. (PINKSHEETS: CPKJ) (the "Company" or "Choicepoker.com") is pleased to announce that it has executed final agreements to acquire 99% of the issued and outstanding shares of Inversion Solida Mexico S. de R.L. de C.V.
Inversion Solida Mexico S. de R.L. de C.V. ("Inversion"), through its subsidiary CanMex Imports S.A. ("CanMex"), is the exclusive distributor of a premium line of alcoholic beverages throughout Mexico. CanMex maintains head offices in Puerto Vallarta, a centrally located distribution warehouse, offices in Mexico City, and a sales and sub-distribution warehouse in Cancun.
In conjunction with the acquisition of Inversion, the board of directors and majority shareholders of Choicepoker.com have approved a share dividend of 24 shares for each share currently held, giving the effect of a 25 for 1 forward split, with the new shares being distributed to its shareholders within the next 30 days, pending the Company's notification to NASDAQ. Choicepoker.com will also change its name to "Viva World Trade, Inc." to more closely reflect the company's corporate identity with its new business direction. A new trading symbol and CUSIP will also be issued.
Under the terms of the acquisition agreement, Chiocepoker.com will issue 42 million post split shares of Choicepoker.com to the current shareholders of Inversion.
Current stockholders will not be required to turn in their Chiocepoker.com stock certificates for new certificates. However, current stockholders who desire to exchange their stock certificates for certificates that have the new corporate name and CUSIP number may do so at their expense, by contacting the company's transfer agent, Securities Transfer Corporation, at (469) 633-0101.
Disclaimer: Portions of this press release include "forward-looking statements", which may be understood as any statement other than a statement of historical fact. Forward-looking statements contained in this press release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary materially from management's expectations and projections expressed in this press release.
For further information, contact:
ChoicePoker.com Inc. Jason Freeman Tel: (214) 682-1693
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
Check out CELL vs TCLL CELL 2.1B rev 10M Net Income 810M Market Cap PPS $16+
TCLL (projected based on 1st 6 Months) 1.5 B rev 13M Net Income 30M Market Cap PPS .30
Posts: 525 | From: nashville | Registered: Jun 2005
| IP: Logged |
posted
GFCI (.155) Closes Deal on Merger and Master Plan of Asset Roll-Up With OTC Bulletin Board Company
HOUSTON, TX -- (MARKET WIRE) -- 08/18/06 -- Grifco International, Inc. ("Grifco" or the "Company") (PINKSHEETS: GFCI) is pleased to announce that it has closed the first-round deal documents to merge with the targeted OTC Bulletin Board company following meetings of the respective executive officers in Las Vegas, NV.
Jim Dial stated, "We worked all day Thursday and Friday in Las Vegas to complete the deal documents with our corporate counsel. We are pleased to have completed this important milestone for the benefit of our shareholders. There is a lot of hard work ahead of us and we ask our shareholders to understand the importance of becoming part of a reporting company with the Securities and Exchange Commission where information must be filed in advance with regulatory authorities after approval of securities counsel and auditors. This is not only good business practice, but it is mandated under Sarbanes-Oxley and the rules of the SEC."
Mr. Dial continued, "One of the first orders of business was to form a new wholly owned subsidiary as part of a triangular merger in a tax free exchange of shares. We further explored venues for our up-coming shareholders meeting. Further details about the shareholders meeting will be forthcoming.
"After meeting with our securities counsel, we were advised that the merger company must file an 8-K announcing a 'material event' together with details of the merger terms within the time prescribed by the SEC. A Form 14A proxy statement will then be filed with the SEC in the same time period and mailed to its shareholders to approve the deal and certain other corporate organizational matters. The merger company will use the services of a proxy agent to handle communications with its shareholders.
"Our next step will be to meet with our investment bankers in San Francisco, CA next week with respect to capital structure post merger and details of how best to finance our targeted acquisitions pursuant to our roll-up strategy."
About Grifco International, Inc.
Grifco International is a leading provider of oil and gas services equipment, specializing in the conception, architecture, and development of tools for the coil tubing, wire line, and snubbing industries throughout the United States, China, Mexico, South America, the Middle East and Africa. Grifco holds and owns design rights and manufacturing facilities for producing more than 6,000 products for the oil and gas industry with more than 150 clients, boasting the biggest names in the business, including Halliburton , Exxon Mobil Corp, and Schlumberger. For more information, please visit: http://www.grifco.org.
Forward-Looking Statements
Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "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, as amended. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.
Contact: Chicago Investor Relations LLC 312.238.9875
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
National Healthcare Logistics and Pioneer Medical Sign Joint Marketing and Services Agreement
By Market Wire Last Update: 8/18/2006 9:35:46 AM Data provided by
CLEVELAND, TENNESSEE, Aug 18, 2006 (MARKET WIRE via COMTEX) -- National Healthcare Logistics, Inc. (PINK SHEETS: NHLG) today announced that the company has inked a joint marketing and services agreement with Pioneer Medical, Inc., (PMI), headquartered in Nashville, TN. Pioneer Medical, Inc., a provider of movable medical equipment on a "as needed basis" to the healthcare market since 1981, offers a variety of services to acute care and alternate site facilities. Pioneer Medical specializes in Adult and Infant Ventilator rentals and Wound Care equipment.
NHCL's president, Joe Smith, said that PMI is the first of several service companies that NHCL intends to sign as a partner with its HUB & SPOKE Projects around the country. The agreement calls for joint marketing efforts, but also joint venturing of services to Integrated Healthcare Providers (multi-hospital and clinic systems) that are customers for NHCL's HUB & SPOKE Program. This very important step takes NHCL closer to creating its SPOKE Division according to NHCL management. PMI and NHCL to begin by working together in specified hospital systems where NHCL is actively engaged in delivering its cost containment services.
According to Smith, "National Healthcare Logistics provides a State-of-the-art logistics model for Integrated Healthcare Providers in the US, and PMI can play a major role in increasing the impact of NHCL's logistics model on the specific hospital systems involved." Smith said that PMI provides unique asset management services in respiratory services, specialty therapeutic surfaces for wound care, and other specialty services. In order to increase the number of services provided through NHCL's logistics model, we need quality services provided by good partners like PMI. And, this partnership will benefit both companies from the exposure of the combined marketing efforts." Concluded Smith.
About National Healthcare Logistics, Inc.
National Healthcare Logistics, Inc. was launched in 1997 as a company promoting a new design for the healthcare supply chain. NHLG is a service provider to multi-hospital systems commonly referred to as Integrated Healthcare Delivery Networks or "IDN". The first "logistics model" for IDN concentrated on reengineering the flow of all routinely purchased supplies by setting up a dedicated distribution facility that became the sole source of such supplies for the IDN healthcare facilities. By so doing, NHLG provided a vehicle that made supply replenishment vastly more efficient and provided cost cutting opportunities that were thought unattainable. LeeSar was the very first project for NHLG, beginning back in 1998, and continuing its mission to the current day to serve its prestigious hospital systems or IDN that created LeeSar in 1998. LeeSar is a cooperative owned by Lee Memorial in Fort Myers and Sarasota Memorial in Sarasota.
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21 E of the Securities Act of 1934, as amended; such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by National Healthcare Logistics, Inc., (the "company"), as well as those contained herein, that are not historical facts are "forward-looking" statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, and because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements, including those in Management's Discussion and Analysis, are statements regarding the intent, belief, or current expectations, estimates, or projections of the company, its directors, or its officers about the company and the industry in which it operates and are based on assumptions made by management. Forward-looking statements include without limitation statements regarding: (a) the company's strategies regarding growth and business expansion, including future acquisitions; (b) the company's financing plans; (c) trends affecting the company's financial condition or results of operations; (d) the company's ability to continue to control costs and to meet its liquidity and other financing needs; (e) the declaration and payment of dividends; and (f) the company's ability to respond to changes in customer demand and regulations. Although the company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions are generally intended to identify forward-looking statements.
Important factors that could cause the actual results to differ materially from those in the forward-looking statements include, among other items, (i) changes in the regulatory and general economic environment; (ii) conditions in the capital markets, including the interest rate environment and the availability of capital; (iii) changes in the competitive marketplace that could affect the company's revenue and/or cost and expenses, such as increased competition, lack of qualified marketing, management or other personnel, and increased labor and inventory costs; (iv) changes in technology or customer requirements, which could render the company's technologies noncompetitive or obsolete; (v) new product introductions, product sales mix, and the geographic mix of sales. The company disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this advertisement are forward-looking statements that involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, governmental approval processes, the impact of competitive products or pricing, technological changes, and the effect of economic conditions.
SOURCE: National Healthcare Logistics, Inc.
Posts: 2309 | From: Minnesota | Registered: Feb 2006
| IP: Logged |
SAN DIEGO, Aug 18, 2006 (PRIMEZONE via COMTEX News Network) -- Execute Sports, Inc. (OTCBB:EXCS) reported today financial results for the quarter ended June 30, 2006. Todd Pitcher, President, commented that, "We are pleased to see the strengthening of our gross margins on a quarter over quarter, and year over year basis, increasing by approximately 50%. Our sales results in the water sports line were slightly lower for the period due primarily to changes in shipping and ordering charges from a key customer and don't reflect a decrease in sales quantities, and we expect to see vest, wetsuit and rash guard sales over the next season accelerate as we move from test orders to more material orders from several new key accounts that we gained this past season."
Sales for the three months ended June 30, 2006 and 2005 were $506,990 and $580,498, respectively, representing a $73,508 or 12.7% decrease, while sales for the six months ended June 30, 2006 and 2005 were $1,102,524 and $1,258,893, respectively, representing a $156,369, or 12.4% decrease on a year over year basis. The decrease in sales for the period is primarily due to a cessation of the Company's moto graphics line and due to changes in a particular customer's ordering of water sports products, eliminating upcharges for shipping.
Gross margin for the three months ended June 30, 2006 and 2005 was $152,898, or 30.2% and $119,574, or 20.6%, respectively. The $33,324 increase in gross margin over the previous year was primarily due to the decrease in shipping costs related to a significant water sports customer and more favorable product costs for the quarter.
Gross margin for the six months ended June 30, 2006 and 2005 was $270,490, or 24.5% and $378,663, or 30.1%, respectively. The $108,173 decrease in gross margin over the previous year was primarily due to higher raw materials prices for rubber products as a consequence of rising oil prices, a reduction in first quarter selling prices to a key account as an adjustment for deferred freight charges, substantial purchase orders from a key account were not received in the first quarter as in the previous year which were received in the second quarter, and higher first quarter costs due to our inability to purchase goods in larger quantities.
Selling, General and Administrative expenses for the three months ended June 30, 2006 and 2005 was $1,035,392 and $2,629,655, respectively, representing a $1,594,263 decrease. Selling, General and Administrative expenses for the six months ended June 30, 2006 and 2005 was $1,968,368 and $2,841,970, respectively, representing a $873,602 decrease. The three and six month year-over-year decrease was the result of a decrease in stock based compensation for professional services and key employees offset by increased professional costs related to being publicly traded, and higher sales and marketing costs compared to the same period in the prior year.
Net loss for the three months ended June 30, 2006 and 2005 was $1,037,323 and $2,514,601, respectively. Net loss for the six months ended June 30, 2006 and 2005 was $1,861,944 and $2,518,983, respectively. The net loss decreased for the three and six month periods by $1,477,278 and $657,039, respectively. The decrease in the net loss is due primarily to a decrease in stock based compensation for professional services and key employees offset by lower sales and higher costs related to being publicly traded.
Todd Pitcher added that, "We have added several key accounts this past season for our water sports line including Boater's World, Marine Max, Big 5 and online as well through GSI Commerce which brings us into Sport Chalet, Dick's Sporting Goods and the Sport Authority. In addition, through the purchase of Pacific Sports Group last January, we will now be able to add wake skates and footwear to our water sports programs this next season under the Kampus and Execute brands so we think the Company is extremely well positioned for growth. We have now moved out of water sports sales and are entering the snow sports season and are looking forward to demonstrating continued strong growth in snowboard sales both domestic and international with the Academy Snowboard Co. brand. Results from sales from this segment will begin to be reflected in the third quarter financial reports through the first quarter of 2007."
Highlights for the quarter included:
-- Announcement of test order for vests at Big 5 Sporting Goods. -- Increase in sales orders for Academy Snowboards by 98% on a year-over-year basis in Japan and by approximately 181% in Europe (Note -- Snowboard sales orders are not reflected in financial results for the periods reported in the three and six months ended June 30, 2006) -- Established online sales presence for water sports products with GSI Commerce bringing the Execute brand to several key online accounts including Dick's Sporting Goods, Sport Chalet and The Sports Authority.
About Execute Sports, Inc.
Based in San Clemente, California, Execute Sports, Inc. develops performance products including wetsuits, vests, rash guards, snowboards, wakeskates, bindings, bags and apparel for the action sports industry. The Company's brands include Execute Wetsuits, Academy Snowboards, Kampus Wakeskates and Kampus Shoes, Collective Development Bindings and Collective Development Bags. In addition, Execute has an exclusive worldwide license to design, produce and distribute EagleRider apparel through EagleRider's 35 franchises and through the Company's eCommerce site, http://www.eagleridergear.com. For more information, go to http://www.executesports.com and http://www.academysnowboards.com.
Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include expectations regarding the ability of the company to continue its growth and the financial performance thereafter. These statements involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this release. These risks include the ability to accomplish goals and strategies, anticipated revenue enhancements, general economic conditions and the level of consumer spending, and numerous other factors identified in the Company's Form 10-KSB and other filings with the Securities Exchange Commission.
Execute Sports Todd M. Pitcher (858) 518-1387 Todd.pitcher*executesports.com
(C) 2006 PRIMEZONE, All rights reserved.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
NCTI(.003) Reports Second Quarter Results 8/18/2006
WESTPORT, Conn., Aug 18, 2006 (BUSINESS WIRE) -- NCT Group, Inc. (OTCBB: NCTI) reported that total revenue for the three months ended June 30, 2006 was $0.5 million compared to $0.8 million for the same period in 2005. The $0.3 million decrease in revenue was primarily due to an expected reduction in royalties resulting from the discontinuation of a customer's product on which one of our ClearSpeech algorithms was platformed. Net loss for the three months ended June 30, 2006 was $8.2 million compared to a net loss of $21.2 million for the same period a year ago. The $13.0 million decrease in net loss was primarily due to reductions in non-operating items.
The company reported that total revenue for the six months ended June 30, 2006 was $1.5 million compared to $2.5 million for the same period in 2005. In addition to the above noted reduction in ClearSpeech-related royalties in 2006, the 2005 results included $0.5 million of previously deferred NXT royalties which were fully recognized as of June 30, 2005. Net loss for the six months ended June 30, 2006 was $22.1 million compared to a net loss of $41.1 million for the same period in 2005. The $19.0 million decrease in net loss was primarily due to reductions in non-operating items.
About NCT Group, Inc.
NCT Group, Inc. is an innovative, high-technology development company rich in intellectual property with hundreds of patents and related rights. The Company is strategically focused on communications initiatives through its subsidiaries, Artera Group, Inc., a developer of software-based network optimization solutions for service providers as well as small business, enterprise and government networks; Pro Tech Communications, Inc. (OTCBB: PCTU), a manufacturer of audio and communications solutions and other products for business users, industrial users and consumers; and NCT (Europe) Ltd., a developer of noise and echo cancellation algorithms for 3G phones, hands-free car kits, "drive thru" intercoms, Formula 1 and NASCAR radio systems, business intercom products and radio communication devices. For more information visit www.nctgroupinc.com.
NCT GROUP, INC. (Unaudited) For The Three Months For The Six Months Ended June 30, Ended June 30, --------------------- ----------------------(In millions, except per share data) 2005 2005 (As Restated) 2006 (As Restated) 2006 ------------- ------ ------------- -------Total revenue $ 0.8 $ 0.5 $ 2.5 $ 1.5Operating costs and expenses $ 3.3 $ 3.1 $ 5.7 $ 6.0Non-operating items $ 18.8(a) $5.6(b) $ 37.8(c) $17.6(d)Net loss $ (21.2) $ (8.2) $ (41.1) $ (22.1)Net loss per share $ (0.03) $(0.01) $ (0.06) $ (0.03)Weighted average common shares outstanding 645.0 906.5 645.0 872.7Footnotes:(a) Includes $15.2 million for interest expense and $1.8 million for penalties and other costs associated with our financing activities.(b) Includes $6.3 million for interest expense and $2.1 million for penalties and other costs associated with our financing activities.(c) Includes $33.3 million for interest expense and $6.1 million for penalties and other costs associated with our financing activities.(d) Includes $15.5 million for interest expense and $9.6 million for penalties and other costs associated with our financing activities. Cautionary Statement Regarding Forward-Looking Statements
Statements in this press release that are not historical are forward-looking. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially, including but not limited to: NCTI's ability to generate sufficient funds to execute its business plan; its ability to obtain additional financing if and when necessary; its ability to repay or refinance indebtedness as it becomes due; the results of litigation; general economic and business conditions; the level of demand for NCTI's products and services; the level and intensity of competition in the technology industry; NCTI's ability to develop new products and the market's acceptance of those products; and its ability to manage its operating costs effectively. These forward-looking statements speak only as of the date of this press release. NCTI undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. These and other factors affecting NCTI's business and prospects are discussed in greater detail in NCTI's filings with the Securities and Exchange Commission, which are available online in the EDGAR database at http://www.sec.gov.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
VANCOUVER, BC, Aug 18, 2006 (MARKET WIRE via COMTEX News Network) -- Norsat International Inc. (TSX: NII) (OTCBB: NSATF) today reported second quarter sales of $3.76 million, gross margins of 47% and a net loss of $1.07 million. For the same period last year, the Company reported sales of $6.16 million, gross margins of 50% and a net loss of $1.24 million.
Sales for the six months ended June 30, 2006 were $6.68 million as compared to $8.67 million in the same period last year. For the six-month period ended June 30, 2006, sales generated by the Microwave Business Unit were $4.23 million, compared to $3.88 million last year. The Satellite Systems business unit meanwhile, reported sales of $2.45 million, compared to $4.79 million for the same period last year.
Total operating costs for the six-month period ending June 30, 2006 were $5.57 million, down from $5.75 million for the same period last year. Of those costs, selling, general and administrative expenses decreased by $0.28 million to $4.22 million, due to a reduction in salaries and consulting fees. Production development expenses meanwhile, increased by $0.15 million to $1.06 million due to larger purchases of materials related to the GLOBETrekker. Amortization costs for the period decreased to $0.28 million from $0.33 million as an increasing number of the Company's assets have now been fully amortized.
The increase in the net loss from $2.43 million, compared to the same six-month period last year of $2.85 million, was attributable, in part, to a lower level of sales of satellite systems, and an increase in research and development expenses related to the GLOBETrekker. The increase of these research and development costs was partially offset by a decrease in sales, general and administrative costs and the impact of the modification in the conversion price of the long-term debt.
The Company has recently become aware that certain disclosures designed to reconcile Canadian GAAP to United States GAAP in Note 22 "Reconciliation to United States accounting principles" to the 2005 Consolidated Financial Statements may be misstated. The effects, if any, arising from this matter are currently undergoing an in-depth review by management. Depending on the results of management's procedures, the 2005 Consolidated Financial Statements may be restated. The outcomes of these procedures cannot be predicted at this time. The Company will announce the results of these procedures as soon as they are completed.
Forward-Looking Statements
Statements in this report relating to matters that are not historical fact are forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to, general economic conditions, changes in technology, reliance on third party manufacturing, managing rapid growth, global sales risks, limited intellectual property protection and other risks and uncertainties described in Norsat's public filings with securities regulatory authorities.
About Norsat International Inc.
Norsat International Inc. designs, engineers and markets intelligent satellite solutions for high-speed data transmission. For more than 25 years, Norsat has built a strong reputation in the field of satellite technology by providing its customers with innovative products. Norsat's latest innovations include the Norsat OmniLink(TM) and GLOBETrekker(TM) lines of portable satellite terminal products that provide rapidly deployable broadband satellite data and video connectivity in areas where traditional communications infrastructure is insufficient, damaged, or non-existent. Additional information is available at www.norsat.com.
Distributed by Filing Services Canada and retransmitted by Market Wire
Additional investor information is available through: Email: communications_investorrelations*Norsat.com Phone: 1-604-292-9000 Toll-free in Canada and the U.S.: 1-888-667-7281.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
Nevada Star Resource Corp.: Man Alaska Project Area 1 8/18/2006
SEATTLE, WASHINGTON, Aug 18, 2006 (MARKET WIRE via COMTEX News Network) -- Nevada Star Resource Corp. (TSX VENTURE: NEV)(OTCBB: NVSRF) (the "Company" or "Nevada Star") Robert Angrisano, President and CEO of Nevada Star Resource Corp. announced today that Anglo American Exploration (USA), Inc. (AAEUS) has notified the Company of its intention to withdraw from the Exploration, Development, and Mine Operating Agreement with the Company on Area 1 of the MAN Alaska Project, effective September 14, 2006.
Over the past two years, AAEUS has spent in excess of US $3 million on exploration programs in Area 1. Work funded by AAEUS has included geophysical, geochemical, and a limited drill program (approximately 10,281 feet). Area 1, which encompasses 132,080 acres, consists of 2 main sections: Fish Lake (approx. 22 miles long and 2 miles wide) and Dunite Hill (approx. 12 miles long and 6 miles wide). AAEUS's drill program concentrated on a small section of the Fish Lake intrusion only and all other areas remain untested.
The Company is encouraged by the magnitude and level of nickel and precious metal mineralization that exists on the MAN Alaska Project and believes that Area 1 has significant potential for a major nickel or precious metal discovery.
Area 1 Highlights:
- Fish Lake contains four main areas of high mineralization: Tres Equis - 7% Ni, 7% Cu, 4 g/t PGE+Au+Ag; Lucky 7 - 0.16% Ni, 0.13% Cu, 0.2 g/t PGE; LFF - 1.1% Ni, 0.2% Cu, 0.2 g/t PGE; Ravine Gossan - 3.2% Ni, 1.4% Cu, 3% Co (massive sulfide in drill hole results, hole 8).
- Dunite Hill contains two major areas of interest: Dunite Hill Syncline - Hosts the highest geophysical conductivity intersection on the property (USGS Transect line G) which shows a high conductivity root zone beneath a wide funnel-shaped intrusion over 2 miles deep. This high conductivity zone plunges to the northwest toward a major gravity high and has never been drill tested. In addition, East Tangle has a Cu showing with assay grades from rock samples up to 6.6% Cu, 4.8 g/t Au, 45.7 g/t Ag, and 3% combined LREE. This 1/2 mile long area has had no follow-up exploration work.
- In addition, the project area hosts the potential for an open pit disseminated nickel operation with large intersections of disseminated nickel discovered in numerous drill holes. For example: MAN05-01A (Tres Equis) drill hole intersected 0.3% Ni, 0.1% Cu and 0.2 g/t PGE over 108 feet (includes 0.5% Ni, 0.2% Cu and 0.4 g/t PGE over 6.56 feet) from 327 foot depth. FL-009 (LFF) 0.33% Ni, 0.04% Cu and 2.2 g/t PGE over 10 feet from 108 foot depth and FL-006 0.26% Ni, 0.14% Cu and 0.25% PGE+Au over 246 feet from 852 foot depth.
The Company will be evaluating the results of all of the exploration carried out to date on Area 1 prior to announcing an ongoing exploration strategy for the property. Area 1 of the MAN Alaska Project remains one of Nevada Star's core assets and the Company will be in discussions with other companies interested in pursuing exploration of Area 1 as well as other areas of the MAN Alaska nickel-copper-PGE property.
Nevada Star Resource Corp. is a mineral exploration company that uses advanced technology to search for metals that are in high demand world-wide. In addition to the MAN Alaska property, Nevada Star currently has projects in Nevada and Utah. The Nevada and Utah properties, which are scheduled to go into production, are in joint partnership with Round Mountain Gold Corporation and Western Utah Copper Company, respectively. For more information, including maps, photos and project descriptions, visit www.nevadastar.com.
This release was prepared by management of Nevada Star Resource Corp. who take full responsibility for its contents.
Neither the TSX Venture Exchange nor the NASD OTC Bulletin Board have reviewed or accept responsibility for the adequacy of this news release.
Contacts: Nevada Star Resource Corp. Robert Angrisano President and CEO (425) 467-1836 (425) 222-0894 (FAX) rangrisano*nevadastar.com www.nevadastar.com
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
iMedia Announces Results of Second Quarter Operations -- Company Sees First Revenues From Hollywood Previews Newspaper Syndication 8/18/2006
SANTA MONICA, Calif., Aug 18, 2006 (PRIMEZONE via COMTEX News Network) -- iMedia International, Inc. (OTCBB:IMNL) (www.imedia-intl.com) announced today the results of its second quarter operations. While the Company saw a decrease in net sales for the period, it realized its first material revenues from its newspaper syndication program, and the distribution of Hollywood Previews Entertainment iMagazine. In addition, the Company continues to show an increase in gross profits from its custom disc productions.
"Since the beginning of the year, we have concentrated our full sales efforts towards the launch of our newspaper syndication in Dallas," said David MacEachern, CEO of iMedia International. "We knew that this would result in an immediate reduction of our custom disc sales, but believe that our intensive focus and the investment made to launch Hollywood Previews will have a greater long-term benefit for the Company."
During the six-month period ending June 30, 2006, the Company accomplished the following milestones:
1 Secured a full-circulation distribution and partnership agreement with the Dallas Morning News, and began distribution of 640,000 Hollywood Previews discs each month beginning April 30. 2 Secured a second, full circulation distribution and partnership agreement with the New York Daily News, a newspaper boasting the highest readership of any paper in the New York City area. 3 Produced an interactive custom promotional disc for the NCAA basketball championship featuring sponsors Cingular and Coke which was distributed in WalMart stores nationally. 4 Produced an interactive promotional disc for PGA Golf sponsored by FedEx. 1,600,000 discs were distributed in Sports Illustrated magazines and in FedEx-Kinko's retail stores. 5 Produced five new interactive discs for Cirque du Soliel. 6 Completed custom disc reorders for current clients Wynn Las Vegas Resort, Embassy Vacations, and Cirque du Soliel and Doyle's Room. 7 Received it first royalty payment from Google for click-through advertising response from the Hollywood Previews website.
Net Sales were essentially flat for the six month period ending June 30, 2006 but decreased $1,005,000 or 59% from $1,701,000 during the three month period ended June 30, 2006 compared to the comparable period during 2005. The decrease in net sales was primarily due to the reduction in sales efforts for our custom digital disc programs as sales activity was re-focused on Dallas Morning News, whereby we realized our first revenues from our newspaper syndication program.
Cost of sales decreased $161,000 or 11% from $1,447,000 to $1,286,000 for the three months ended June 30, 2005 to $1,286,000 for the three months ended June 30, 2006. However, during the period we experienced a negative gross profit of $(589,613) compared to a $253,000 gross profit for the comparable period during 2005. The negative gross profit is primarily due to the anticipated subsidies to launch Hollywood Previews in the Dallas Morning News. The negative gross profit was partially offset by the continued improvement of gross profits for our custom disc sales which improved to 35% for the three months ended June 30, 2006 compared to 15% during the three month period ending June 30, 2005.
Selling expenses increased $156,000 or 35% for the three months ended June 30, 2006 to $595,000 from $439,000 for the comparable period during 2005. The increase in selling expenses was primarily attributable to various travel and entertainment expenses and non-cash compensation associated with the launch of Hollywood Previews in the Dallas Morning News.
Our General and Administrative expenses decreased $1,005,000 or 57% for the three months ended June 30, 2006 to $770,000 from $1,775,000 for the comparative period during 2005. The decrease in general administrative expenses was primarily attributable to non-reoccurring cash and non-cash expenses for warrants and offering costs realized in the prior year that were not realized during this period.
About iMedia International Inc.
iMedia International, Inc. (IMNL) is a publicly held digital media solutions company producing DVD's, and CD-ROM's for digital multimedia marketing and promotional campaigns. iMedia publishes proprietary and custom digital iMagazines and offers expert digital media solutions services including: strategic planning, content aggregation and production, disc audio/video design, authoring, editing and compression, disc packaging manufacturing and distribution. A key feature of iMedia's technology is its iReporting(tm) real-time, online tracking system which provides quantitative data on disc viewer usage patterns and effectiveness of iMedia marketing and promotional campaigns.
The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements to the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, product development and acceptance, the impact of competitive services and pricing, general economic risks and uncertainties, and various other information detailed from time to time in the Company's filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof. Please refer to the full filing of the Company's Quarterly Report on Form 10-Q at http://www.sec.gov.
iMedia International, Inc. Condensed Combined Balance Sheet As of June 30, 2006 (unaudited)
ASSETS Current Assets Cash $ 66,693 Accounts receivable, net of allowance for doubtful accounts of $60,000 428,038 Work in process 59,947 Due from affiliate 5,331 Prepaid expense 9,601 ---------- Total current assets 569,610 Property and equipment, net 173,173 ---------- Total Assets $ 742,783 ---------- LIABILITIES AND SHAREHOLDERS' DEFICIT Current liabilities: Accounts payable and accrued expenses $1,753,771 Accrued liquidated damages 2,506,654 Deferred revenue and customer deposits 311,983 Warrant derivative liability 1,484,052 ---------- Total current liabilities 6,056,460 ---------- Series A - Convertible preferred stock subject to redemption, net of discount of $1,427,113 1,612,887 ---------- Total Shareholders' deficit (6,926,564) ---------- Total Liabilities and shareholders' deficit $ 742,783 ----------
iMedia International, Inc. Condensed Combined Statements of Operations For the Three and Six Months Ended June 30, 2006 and 2005 (unaudited)
2006 2005 2006 2005 (as restated) (as restated) ---------- ---------- ---------- ---------- Net sales $ 696,460 $1,700,886 $2,120,538 $2,147,351 Cost of sales 1,286,073 1,447,278 2,263,445 1,715,232 ---------- ---------- ---------- ---------- Gross profit (loss) (589,613) 253,608 (142,907) 432,119 ---------- ---------- ---------- ---------- Operating expenses: Selling and marketing 594,874 439,243 1,787,528 778,933 General and administrative 769,592 1,774,866 1,321,202 3,929,431 Operating expenses- related party 157,625 135,000 322,625 291,000 ---------- ---------- ---------- ---------- Total operating expenses 1,522,091 2,349,109 3,431,355 4,999,364 ---------- ---------- ---------- ---------- Loss from operations (2,111,704) (2,095,501) (3,574,262) (4,567,245) ---------- ---------- ---------- ---------- Other (income) expense: Net (gain) Loss on revaluation of warrant derivatives (2,232,911) 2,428,952 (3,631,253) 2,428,952 Penalty on late filing of SB2 782,794 -- 1,297,136 -- Warrants issued for extension on Convertible note payable -- 340,478 -- 340,478 Interest on amortization of debt discount -- 31,551 -- 126,204 Interest (income) expense, net 1,127 29,679 (6,370) 67,572 Loss on investment -- 6,436 -- 149,913 Impairment loss on investment in available for sale securities -- 57,720 -- 1,570,750 ---------- ---------- ---------- ---------- Total other (income) expense (1,448,990) 2,894,816 (2,340,487) 4,683,869 ---------- ---------- ---------- ---------- Loss before provision for income taxes (662,714) (4,990,317) (1,233,775) (9,251,114) Provision for income taxes 3,000 3,200 4,092 4,000 ---------- ---------- ---------- ---------- Net loss (665,714) (4,993,517) (1,237,867) (9,255,114) Interest on fixed conversion feature and accretion of discount on Series A redeemable preferred stock 379,998 92,889 759,996 92,889 Preferred stock dividends Series A and B 119,400 18,746 238,800 18,746 Preferred stock dividends - iPublishing, an affiliated company 6,750 6,750 13,500 13,500 ---------- ---------- ---------- ---------- Net loss allocable to common shareholders $(1,171,862)$(5,111,902) $(2,250,163)$(9,380,249) ---------- ---------- ---------- ---------- Net loss per common share allocated to common shareholders, Basic and Diluted $ (0.02) $ (0.07) $ (0.03) $ (0.14) ---------- ---------- ---------- ---------- Weighted average common shares outstanding Basic and Diluted 73,154,739 70,960,230 73,071,727 69,004,890 ---------- ---------- ---------- ----------
iMedia International, Inc. Condensed Combined Statements of Cash Flows For the Six months ended June 30, 2006 and 2005 (unaudited)
2006 2005 (as restated) ---------- ------------ Net loss $(1,237,867) $(9,255,114) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation 34,139 24,296 Allowance for doubtful accounts 34,695 -- Loss on sale of investments -- 149,913 Unrealized loss on investment in available for sale securities -- 1,570,750 Change in warrant derivative due to revaluation (3,631,253) 2,428,952 Options issued for employee compensation 90,475 -- Options issued to employees 11,374 -- Issuance of warrants for extension of notes payable -- 340,478 Issuance of additional warrants to investors -- 810,563 Issuance of warrants for services 199,516 83,584 Issuance of common stock for services 76,000 1,926,750 Common stock issued for extension of related parties notes payable -- 94,900 Net change in deferred compensation (32,034) (48,366) Changes in assets and liabilities: Accounts receivable 1,357,750 (880,412) Work in process (32,168) (129,051) Prepaid expenses and other assets 3,962 (245) Accounts payable and accrued expenses 655,132 (10,985) Accrued liquidated damages 1,297,136 -- Deferred revenue and customer deposits 221,543 123,260 ---------- ---------- Net cash used in operating activities (951,601) (2,770,727) ---------- ---------- Cash flows from Investing activities Purchase of equipment (66,827) (16,318) Sale of investment in available for sale securities -- 209,261 Due to/from affiliates, net (52,000) 26,398 ---------- ---------- Net cash (used in) provided by investing activities (118,827) 219,341 Cash flows from financing activities Common stock committed for interest on related party notes -- (94,900) Payments on notes payable -- (1,000,000) Payments on notes payable - related parties (8,483) (130,000) Proceeds from notes payable - related parties -- 15,047 Proceeds from issuance of redeemable Series A preferred stock, net -- 2,712,393 Proceeds from issuance of common stock for cash -- 1,149,960 Dividend on Preferred Series A (238,800) (18,746) Dividend on iPublishing preferred (13,500) (13,500) ---------- ---------- Net cash (used in) provided by financing activities (260,783) 2,620,254 Net change in cash (1,331,211) 68,868 Cash, beginning of period 1,397,904 453,304 ---------- ---------- Cash, end of period $ 66,693 $ 522,172 ---------- ---------- Supplemental disclosures of cash flow information: Income taxes paid $ 3,562 $ 3,200 Interest paid $ 3,200 $ 67,571 Non-cash investing and financing activities: $ 759,996 $ -- Issuance of common stock for accrued dividends on Series A preferred stock $ 26,122 $ --
iMedia International, Inc. Kelly R. Konzelman, Executive Vice President (310) 453-4499 Fax: (310) 453-6120 kellyk*imedia-intl.com 1721 21st Street Santa Monica, CA 90404
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
NEWPORT BEACH, CA, Aug 18, 2006 (MARKET WIRE via COMTEX News Network) -- In the news release, "Caneum, Inc. Announces Record Second Quarter 2006 Financial Results," issued Wednesday, August 16, 2006, by Caneum, Inc. (OTCBB: CANM), we are advised by the company that revisions have been made to the release. Complete corrected text follows.
Caneum, Inc. Announces Record Second Quarter 2006 Financial Results
Company Announces 408% Year-Over-Year Quarterly Revenue Increase to $2,211,847
NEWPORT BEACH, CA -- August 18, 2006 -- Caneum, Inc. (OTCBB: CANM), a business process and information technology outsourcing services company, today announced that its revenue for the second quarter grew 408% to $2,211,847 from the prior year comparable period of $435,382. The Company also announced that revenue for the second quarter grew 159% sequentially to $2,211,847 over the prior first quarter comparable period of $854,719 and that this marked the 13th consecutive quarter of sequential top line growth. Revenue for the first half of 2006 increased 379% to $3,066,567 over the comparable first half of 2005 of $639,904. Similarly, gross margins for the first half of 2006 increased 21% to 31.0% over the comparable first half of 2005 of 25.6%.
Additionally, the Company posted a second quarter EBITDA loss of only $49,606 or ($0.01) per share, reduced from the prior year comparable period loss of $218,247, or ($0.05) per share. For the second quarter of 2006, the Company posted a net loss of $349,558, or ($0.06) per share, reducing the net loss 7% compared to the second quarter of 2005 from $376,516, or ($0.08) per share.
The Company, which has customers ranging from start-up to Fortune 500 companies, provides a broad range of business process and information technology outsourcing solutions and attributed its performance to continued strong demand for its outsourcing services, an expanded organic customer base, a higher margin outsourcing service mix and the successful acquisition and integration of TierOne Consulting, Inc. Reported results included:
-- Year-over-Year Second Quarter 2006 Revenues up 408% to $2,211,847 from $435,382 in the Second Quarter 2005 -- Year-over-Year Second Quarter 2006 Gross Margins up 49% to 33.0% from 22.4% in the Second Quarter 2005 -- Year-over-Year Second Quarter EBITDA Loss down 77% to $49,606 or ($0.01) per share from $218,247 or ($0.05) per share in the Second Quarter 2005 -- Year-over-Year Second Quarter 2006 Net Loss of $349,558, or ($0.06) per share, from a Second Quarter 2005 Net Loss of $376,516, or ($0.08) per share; net loss includes the effect of stock-based compensation associated with expensing stock options, non-cash consulting expense, amortization of intangible assets associated with last quarter's acquisition and a write- down of a prepaid investor relations asset -- Quarter-over-Quarter Second Quarter 2006 Revenues up 159% to $2,211,847 from $854,719 in the First Quarter 2006 -- Quarter-over-Quarter Second Quarter 2006 Gross Margins up 33% to 33.0% from 25.1% in the First Quarter 2006 -- Quarter-over-Quarter Second Quarter 2006 EBITDA Loss down 77% to $49,606 from $206,509 in the First Quarter 2006 -- Quarter-over-Quarter Second Quarter 2006 Net Loss of $349,558, or ($0.06) per share, down from a First Quarter 2006 Net Loss of $352,781, or ($0.06) per share; net loss includes the effect of stock-based compensation associated with expensing stock options, non-cash consulting expense, amortization of intangible assets associated with last quarter's acquisition and a write-down of a prepaid investor relations asset -- Year-over-Year First Half 2006 Revenues Up 379% to $3,066,567 from $639,904 in the First Half 2005 -- Year-over-Year First Half 2006 Gross Margins up 21% to 31.0% from 25.6% in the First Half 2005 -- Year-over-Year First Half 2006 EBITDA Loss down to $256,115 from $526,722 in the First Half 2005 -- Year-over-Year First Half 2006 Net Loss down 27% to $638,311 from $878,444 in the First Half 2005; net loss includes the effect of stock- based compensation associated with expensing stock options, non-cash consulting expense, amortization of intangible assets associated with last quarter's acquisition and expense associated with a prepaid investor relations asset
Alan Knitowski, Chairman of Caneum, commented, "We are absolutely thrilled with the continued operating performance and growth of the Company, including the addition of several new customers and expansions with several existing customers. Not only have we proven the organic growth capabilities afforded by our agnostic hybrid outsourcing model, but we have also proven that we can acquire companies, integrate them quickly and immediately accelerate the combined enterprise. We are excited to have delivered our 13th consecutive quarter of record results and expect that the pending 3rd quarter will continue this well established multi-year trend. As always, we encourage prospective and current shareholders to review additional details and developments in our full 10-QSB now on file with the SEC."
Gary Allhusen, Chief Operating Officer, commented, "We've closed the acquisition, integrated the businesses, combined operations and expanded our capacity 43% and prepared the Company for our next phase of growth. In spite of significant investments in expanding our capability, we are very pleased with our Second Quarter results and equally optimistic about the momentum we carry into the Third Quarter on both the top and bottom lines of our business."
About Caneum, Inc.:
Caneum, Inc. is a global provider of business process and information technology outsourcing services across vertical industries including technology, energy, government, transportation, financial services, education and healthcare. The Company's mission is to push the boundaries of innovation and global competitiveness through the borderless integration of people, process, technology and information. To accomplish this, Caneum provides a suite of business strategy and planning capabilities to assist companies with their "make versus buy" decisions in the areas of data, network, infrastructure, personnel, development, enterprise software, maintenance, support and functional area business processes, and fulfills its services agnostically with a hybrid outsourcing model in-house, on-shore, near-shore and off-shore, depending on the business goals and objectives of its global customers. In parallel, Caneum is opportunistically pursuing accretive acquisitions within its core outsourcing service suite in order to broaden its core capabilities, expand its customer base and supplement its organic growth. For more information, please visit the Company's web site at http://www.caneum.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The Company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include, but are not limited to, the risk factors noted in the Company's filings with the United States Securities and Exchange Commission, such as the rapidly changing nature of technology, evolving industry standards and frequent introductions of new products, services and enhancements by competitors; the competitive nature of the markets for the Company's services; the Company's ability to gain market acceptance for its products and services; the Company's ability to fund its operations and growth; the Company's ability to attract and retain skilled personnel; the Company's ability to diversify its revenue streams and customer concentrations; and the Company's use and reliance on third-party suppliers and contractors.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
Pacific WebWorks Reports Revenue Growth for 2006 2nd Quarter Pacific WebWorks Inc. (OTCBB:PWEB) today reported revenues of $1,579,057 for the quarter ended June 30, 2006. This represents a 60% increase over revenues reported for the same quarter in 2005. Revenues for the six months ended June 30, 2006 amounted to $3,113,956, a 68% increase over the same period in 2005.
Revenues increased in every revenue category with the most notable growth coming in the areas of software access and license fees and training and education.
CEO Ken Bell stated, "Second quarter 2006 results, as well as our results for the six months ended June 30, 2006, continue a pattern of increased revenues when compared to the same period for the previous year. It also represents continued growth throughout our revenue categories. Losses persist but at a considerably reduced level for the second quarter of 2006 when compared to the same period for 2005."
Bell continued, "While revenue growth continues and losses have decreased in an effort to increase cash generated from operations we are actively pursuing new and more effective methods to market our products. We are pleased with our progress on that front and look forward to positive developments in this area over the balance of this year."
About Pacific WebWorks, Intellipay and TradeWorks Marketing
Pacific WebWorks provides a comprehensive suite of affordable, easy-to-use software programs for small businesses that want to create, manage, and maintain an effective Web strategy including full e-commerce capabilities.
Pacific WebWorks wholly owned subsidiary IntelliPay develops and provides trusted electronic transaction processing and payment products and services.
Pacific WebWorks wholly owned subsidiary TradeWorks Marketing is a sales and marketing organization created to market Pacific WebWorks and IntelliPay products.
Forward-Looking Statements: This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The company's actual results could differ materially from expected results.
Pacific WebWorks Inc., Salt Lake City Ken Bell, 801-578-9020
-------------------- Hi-ho Momo, awayyyy... Posts: 871 | From: So. Cal | Registered: May 2006
| IP: Logged |
Conversion Solutions Holdings Corp CEO Recipient of the 2006 Georgia Republican of the Year Award from the National Republican Congressional Committees Business Advisory Council KENNESAW, Ga., Aug. 20 /PRNewswire-FirstCall/ -- Conversion Solutions Holdings Corp (OTC Bulletin Board: CSHD), a Delaware Corporation would like to announce that our Chief Executive Officer, Rufus Paul Harris was the recipient of the 2006 Georgia Republican of the Year Award from the Business Advisory Counsel (BAC) a project of the National Republican Congressional Committee (NRCC).
Mr. Harris also qualifies for the BAC - NRCC most prestigious award the Congressional Medal of Distinction, awarded later this fall.
'I am extremely grateful for the tremendous support that Rufus has shown for our Party, especially in this critical election year,' commented Congressman Tom Reynolds NRCC Chairman in a letter to Mr. Harris.
'This award is given to a select group of business and community leaders from each state that have championed the free enterprise system and supported the ideals of smaller government, lower taxes and less regulation,' explained Congressman Tom Reynolds NRCC Chairman
'I would like to express my gratitude to the NRCC and Chairman Reynolds, for this opportunity, I fell that the NRCC and the BAC is the key to the Republican parties present and future.' stated Rufus Paul Harris NRCC Membership # 507731769.
About Conversion Solutions Holdings Corp
CSHD is a diversified holdings corporation, which was formed to originate, fund and source funding for asset-based transactions in the private market. CSHD'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. CSHD is headquartered in Kennesaw, Georgia, a suburb of Atlanta. For more information, please visit us at www.cvsu.us.
-------------------- "No nation was ever ruined by trade." Benjamin Franklin Posts: 533 | From: Dooville, Indiana | Registered: Jul 2006
| IP: Logged |
Sterling Planet Supplies 18 Million kWh of Wind Energy Credits to National Envelope
By BusinessWire Last Update: 8/21/2006 7:30:29 AM Data provided by
NEW YORK, Aug 21, 2006 (BUSINESS WIRE) -- National Envelope, the world's largest envelope manufacturer has signed a multi-year contract with Sterling Planet for the purchase of 18 million kilowatt hours of Renewable Energy Credits from wind energy projects located nationwide.
Wind energy is the fastest growing source of electricity in the USA. The National Envelope purchase serves to avoid the release from conventional electricity generation of approximately 25,056,000 pounds of carbon dioxide, the leading greenhouse gas. The environmental benefit compares to not taking nearly 10,000 drives between Los Angeles and New York City.
With this purchase, National Envelope gains entry into the Environmental Protection Agency's Green Power Partnership and its Green Power Leadership Club. To become a Partner, organizations replace a portion of their annual electricity consumption with green power. The Green Power Leadership Club further honors Green Power Partners that have made an exemplary green power purchase that significantly exceeds minimum Green Power Partnership purchase requirements.
National Envelope has a long-standing commitment to the environment, environmentally-sound products and eco-friendly business practices. For example, National Envelope is the first and only envelope converter in the United States to be certified to produce envelopes, announcements, and greeting cards that are accepted as meeting the standards of the Forest Stewardship Council and the Sustainable Forestry Initiative(R) program.
"This purchase of wind credits from Sterling Planet demonstrates our focus on being a good corporate citizen," says Nathan Moser, CEO. "We selected Sterling Planet as our provider because we were looking for the greatest value that would enable us to do our part for the environment while continuing to deliver the best quality envelopes at the lowest cost."
Renewable Energy Credits, also known as RECs, represent the environmental benefits of generating electricity by use of renewable energy sources such as the wind and sun. RECs are sold separately from the electrical output of renewable energy projects and are available to residential and non-residential customers nationwide through Sterling Planet, the nation's leading retail provider of renewable energy.
Sterling Planet caters to the needs of large corporations seeking to purchase RECs in large volume with economical multi-year pricing, while also serving residential customers nationwide. "We commend National Envelope, a visionary company with steadfast support of environmental causes, as shown through this major commitment to renewable energy," says Mel Jones, Sterling Planet's President and Chief Executive Officer. "We encourage other corporate citizens to follow National Envelope's example of stewardship."
About National Envelope Corporation
National Envelope is the largest envelope company in the world. Servicing the country with 21 manufacturing facilities coast-to-coast which operate utilizing the most technologically advanced folding, printing, and prepress equipment, National offers its customers unparalleled product selection and service. The company is the official converter for every major North American paper company as well as some of Europe's most prestigious mills. In addition to a full selection of envelopes, the company also offers a full range of announcement and greeting products. With over 3 billion envelopes in stock and a base of over 600 folding machines, National Envelope sets the standard for the envelope manufacturing industry.
About Sterling Planet, Inc.
Sterling Planet is the nation's leading retail provider of solar, wind and other clean, renewable energy through direct sales and electric utility partnerships. Sales to date have created environmental benefits comparable taking 613,500 cars off U.S. roads for a year. Founded in 2000, Sterling Planet was the first company to offer RECs (Renewable Energy Credits) to every U.S. home and business as a way to support sustainable energy production that benefits the environment, the economy and society in general. Today, Sterling Planet has 304 large commercial and industrial clients nationwide, including 31 utility partners in Connecticut, Florida, Massachusetts, New Jersey, New York and elsewhere. The company is also exploring emerging clean energy markets, maintaining a focus on businesses, universities, government clients and other companies seeking LEED credits for green building certification.
Sterling Planet is a division of GS Energy Corporation (OTC Bulletin Board: GSEG), an integrated clean energy company that was founded to facilitate the more efficient use of traditional sources of energy and the increased production and use of renewable sources of energy.
Posts: 2660 | From: Pennyland USA | Registered: Jun 2004
| IP: Logged |
posted
SITG (.03)Offers Airlines Their Terrorist Trap -- VSA >NEW YORK, Aug. 21, 2006 (PRIMEZONE) -- Security Intelligence Technologies, Inc. (OTCBB:SITG) today announced that its subsidiary, Homeland Security Strategies, Inc. (HSS) has offered a number of airlines, at no charge, field test units of their Terrorist Trap -- VSA(tm) 2000, its latest digital voice intelligence system.
HSS's engineers designed the original Electronic Voice Stress Analyzer, "VSA"(tm) over 25 years ago. The system detects sub-audible micro-tremors in the vocal cords that indicate stress caused by deception, i.e. untruthful answers. The process is simple and needs no physical attachment to the subject, and can be operated covertly or with recorded conversations. HSS's latest generation VSA(tm) has been upgraded for use at airports and transportation hubs.
HSS's VSA(tm) systems are currently being used by governments, law enforcement, intelligence professionals and businesses here and abroad. An important market for HSS's VSA(tm) systems has been Central and South America, where the systems are in use by governments, banks, and insurance companies during claim investigations, businesses during the interviewing process, and investigators. A government in South America has recently enacted legislation to allow the results of VSA(tm) testing as evidence in their courtrooms.
"We have upgraded the system for use at airports and transportation hubs so that the total process will take minimal time. We believe the product is a valuable tool for airlines that will enable instantaneous pre-screening of passengers to help single out possible terrorists and suicide bombers as they go through security checks," stated SITG's CEO Ben Jamil.
About Security Intelligence Technologies, Inc.
Security Intelligence Technologies, Inc. and its subsidiaries design, develop, manufacture, market and distribute leading edge solutions and advanced proprietary systems for the counterterrorism, surveillance, counter-surveillance markets worldwide through its corporate website, international seminar program and through its offices located in New York, and its strategic alliances worldwide. SITG's product line and security technologies are currently distributed throughout the US, Europe, Asia, the Middle East and Latin America and are marketed under the names Security Intelligence Technologies, and Homeland Security Strategies.
Safe Harbor Statement
Statements in this press release and oral statements that may be made by the Company or by officers, directors or employees of the Company acting on the Company's behalf may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "expects," "intends," "may," "should," or "anticipates" to be uncertain forward-looking statements. 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, including the material under "Risk Factors" in the Company's Form 10-KSB for the year ended June 30, 2005 and the material under Management's Discussion and Analysis of Financial Condition and Results of Operations in the Company's Form 10-K for the fiscal year ended June 30, 2005 and Form 10-QSB for the quarter ended March 31, 2006. Information on SITG's corporate website or any other website is not a part of this press release.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
USXP 0.0038 the company is anticipating wider growth
Business Editors / Logistics & Transportation Writers
NEW YORK--(BUSINESS WIRE)--Aug. 21, 2006-- Universal Express Inc. (OTCBB: USXP). "As a result of the terrorist events in the U.K., Universal Express, Inc., a pioneer in luggage-delivery services, is seeing a 19 percent surge in individual bookings for its Luggage Express and Virtual Bellhop brands within a week, domestically and in Europe, and the company is anticipating wider growth as a large number of global companies in the travel industry are eagerly turning to the diversified logistics company to forge marketing partnerships so they can offer consumers a secure, timesaving and stress-free convenience," announced Richard A. Altomare, CEO, Universal Express, Inc. (OTCBB:USXP) and Founder and Chairman of The Coalition for Luggage Security. "With the airport terror plot, new regulations and the airlines' creaky baggage systems putting fliers in a tailspin, upscale companies in the travel industry that we've been courting for alignments are now calling us, eager to come to the table to forge innovative marketing partnerships with our brands as a way to provide a security service that is more than a luxury - it's a necessity," said Mr. Altomare. "Since the August 10 terror plot in London was foiled we've signed six partnership contracts with leading companies in the travel industry." Universal Express, based in Boca Raton, Fla. and New York, partners with more than 50 organizations including hotels, credit card companies, cruise lines, travel agencies, tour operators and other leaders in the travel industry. Universal Express introduced its Virtual Bellhop (www.virtualbellhop.com) and Luggage Express (www.usxpluggageexpress.com) brands in 1997 and both services operate from the same facility in Boca Raton. Baggage travels through sophisticated baggage movement systems and software. The company carved out this specialty niche from its array of logistics and air courier services. Within two years competition started heating up and today there are about eight players in the market, some of which concentrate on niches like sports equipment. "In this age of terrorism and the urgent need for security, Luggage Express, Virtual Bellhop and our competitors are experiencing brisk business because a consumer need is being met," said Mr. Altomare. "Increasingly, travelers are finding a new way to avoid getting frazzled by ever-changing restrictions, rules and long lines. Traveling without luggage takes experiential knowledge because it's a different way of acting or behaving." The Luggage Express and Virtual Bellhop services started out domestically and have since expanded worldwide to most countries, except Cuba, delivering baggage from a home or business to its destination and then back again using air or ground transportation. Of Luggage Express, Mr. Altomare explained the brand is registered in 10 different languages, with more to come. "Today we look at travelers in a general sense, not just as business travelers or vacationers," said Mr. Altomare. "People are merging their business with leisure activities. We've moved approximately five million cases over the past nine years with most of our customers renewing. Once people have luggage shipped ahead, they can't see how they ever lived without it especially in today's terror climate." Mr. Altomare explained the biggest misunderstanding for most American travelers is assuming their luggage travels for free. "The airlines are losing $11 billion a year and their luggage costs total $9 billion of that figure," he said.
About Universal Express
Universal Express, Inc. is a 22 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.
KEYWORD: EUROPE NORTH AMERICA FLORIDA NEW YORK UNITED KINGDOM UNITED STATES INDUSTRY KEYWORD: TRANSPORT AIR TRAVEL TRANSPORTATION COMMUNICATIONS MARKETING PRODUCT/SERVICE SOURCE: Universal Express Inc.
CONTACT INFORMATION: For Investor Relations: Universal Express, Inc. Mark Falk, 631-588-1644 publicrelations*usxp.com
.................
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
TJSS (.14) ThreeCard.Com Signs With Taj Systems
HOLLYWOOD, FL -- (MARKET WIRE) -- 08/21/06 -- Taj Systems, Inc. (PINKSHEETS: TJSS), a gaming software development company, has confirmed securing ThreeCard.com as the newest and most valuable affiliate for licensee TeenPatti.com.
In a three-party deal, ThreeCard.com will utilize Taj Systems' proprietary multi-player Teen Patti (three-card Poker) software, coupled with online gaming site TeenPatti.com's infrastructure to launch a new gaming site prior to the end of this year. As an affiliate, ThreeCard.com reports it will initially begin by promoting TeenPatti.com, prior to launching its own custom site by year-end.
ThreeCard.com possesses two valuable assets supporting its launch: a rapid rise in the recent popularity of three-card Poker in casinos throughout the world and an easily recognizable domain name. The new site targets all Poker fans in hopes of creating a large Internet following for another equally entertaining and exciting style of Poker which has traditionally been enjoyed by millions of people in Southeast Asia and the United Kingdom.
Adding a new website to its family of licensees and/or sub-affiliates is expected to greatly benefit Taj Systems and further strengthen its network by building a critical mass of players on its platform. To learn more about Taj Systems, visit http://www.tajsystems.com. Taj Systems' proprietary Three-card Poker software may be enjoyed at http://www.teenpatti.com.
Safe Harbor Statement:
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not of historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports 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
| IP: Logged |
posted
LBTN (.001) Acquires Minority Interest in TrendSetter Solar Products, Inc. Valued at $600,000
RENO, NV -- (MARKET WIRE) -- 08/21/06 -- Lifeline Biotechnologies, Inc. (PINKSHEETS: LBTN) announced today that it has acquired a minority interest in TrendSetter Solar Products, Inc. (PINKSHEETS: TSSP), a quality manufacturer of state-of-the-art, solar hot water heating and storage systems in the United States.
Lifeline received approximately 8.3 million shares of TrendSetter Industries which represents more than $600,000 in total value which will be added to the company's balance sheet. The acquisition of TrendSetter is part of Lifeline's strategy to increase shareholder value by improving its asset valuation and issuing dividends to its shareholders.
Lifeline recently announced that all shareholders of record will receive a stock dividend in Solos Endoscopy (SLSE) shares payable on September 29, 2006.
"This acquisition of a minority interest in TrendSetter Solar Products, Inc. is another major step in the execution of our diversification strategy. TrendSetter is an exciting, environmentally friendly company with a unique product that is becoming more necessary every day," stated Jim Holmes, CEO of Lifeline Biotechnologies, Inc.
TrendSetter Solar Products' solar hot water systems and storage tanks are uniquely positioned to serve the residential and commercial market because the Company offers a full range of systems that are rated to take advantage of the new federal energy tax credit program. Tax Credits (http://www.energystar.gov/index.cfm?c=products.pr_tax_credits) are available at a 30% credit for up to $2,000 for the purchase and installation of solar electric and solar water heating systems. In addition, yearly operating costs are low because solar electricity needs very little maintenance, very few spare parts, and no fuel. Information about TrendSetter can be obtained from their website at: http://www.trendsetterindustries.com.
About Lifeline Biotechnologies, Inc.:
Lifeline Biotechnologies develops and acquires undervalued companies which have innovative technology in the medical, nutraceutical, and energy industries, to increase the growth of the Company. Lifeline Biotechnologies continues to seek out and capitalize on emerging technologies that will change the medical, nutraceutical, and energy community.
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
Contact: Lifeline Biotechnologies, Inc. Investor Relations 1-866-THE-APPLE
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
FGFC (.015) Updates the Development Status of its Buysellmerge.com Unit Business Editors
NEW YORK--(BUSINESS WIRE)--Aug. 21, 2006-- Buysellmerge.com, a division of First Guardian Financial Corporation (Pink Sheets: FGFC) today announced the status and progress directed toward the much anticipated launch date of its premier business portal.
The company has recently moved some of its hosting servers to eapps Business Application Solutions http://eapps.com/Company/AboutUs.jsp as this will allow the company the additional applications that are required for a portal of this complexity.
The company decided on eapps.com to provide the following additional hosting and applications for the portal Advanced Plus VPS - Ruby/Java/LAMP, Apache 2.0.52, Apache module mod perl, Apache module mod ssl, imap, IPTables, J2RE, J2SDK, JBoss4, Mod Jk, MySQL Server v5, Control Panel, SSH and other certain administrative functions and applications.
The company has also acquired a license for a SSL Cert from Verisign Secure, that is required for an interactive portal of this magnitude. VeriSign Inc operates intelligent infrastructure services that enable and protect billions of interactions every day across the world's voice and data networks. Every day, we process as many as 18 billion Internet interactions and support over 100 million phone calls. We also provide the services that help over 3,000 enterprises and 500,000 Web sites to operate securely, reliably, and efficiently. VeriSign is a global enterprise with offices throughout the Asia-Pacific region, Europe, Latin America, and North America, supported by a widespread international network of data centers and operations.
The company has been working on a fierce fast track basis including this past weekend to get the portals phase one completed and rolled out by this week so that pre official launch tests can be completed, and to work out any technical problems over the internet that may occur, with phase two and three to be added quickly upon satisfactory function ability.
"We are very pleased with the efforts of Dr. Cheng and Mr. Mohamed and their development team with the commitment to this project and their determination to be the outstanding business portal on the World Wide Web. We envision Buysellmerge.com to be to the business world what Yahoo and Google are to the retail & consumer market," said Abraham Rosenman, President First Guardian Financial Corporation
About First Guardian Financial Corporation:
The company is a Financial Holding Company currently providing Commercial Real Estate Financing & Invests and provides financing for its own portfolio in small to mid sized businesses nationally. Its primary goal is to provide short term financing within the commercial real estate market and invest and or provide secured short term financing to businesses either in the start up stage or growth stage throughout the United States.
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.
KEYWORD: NORTH AMERICA NEW YORK UNITED STATES INDUSTRY KEYWORD: TECHNOLOGY INTERNET PROFESSIONAL SERVICES BANKING FINANCE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE SOURCE: First Guardian Financial Corporation
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
CMDA (.28) China Media1 Reports Profitable 2nd Quarter
IRVINE, CALIFORNIA -- (MARKET WIRE) -- 08/21/06 -- China Media1 Corp. (OTCBB: CMDA) wishes to announce that we have filed the quarterly Form 10-QSB for the quarter ended June 30, 2006 last Thursday August 17, 2006. In the second quarter, our China advertising properties have generated Revenue of $1,982,044 (all in US$), $1,121,811 in Operating Income and $921,400 in Net Income. The $921,400 was then brought into the Company's P/L as Net Income from Contract Rights (please see Note 9 of the financial statements for details). The presentation of revenue from contract rights on a net basis is SEC approved and according to US GAAP. Even after absorbing a variety of accounting related entries totaling $464,853 associated with convertible financing, we still reported $193,112 Net Income for the Company. Effective from the quarter ended June 30, 2006, Chuangrun has agreed to adjust their management fee to 20% of revenue up to the original amount as stated in the management contracts.
We also wish to announce that we have changed auditors from Ernst & Young, LLP to Vellmer & Chang, Chartered Accountants; a PCAOB registered firm based in Vancouver, Canada. The principals came from large national firms and have a wealth of international and China related experience. We expect to be well served with timely and professional service when required. The changeover has resulted in some handover procedures that required extra time; we will be able to meet future audits and reviews on a timelier basis.
About China Media1 Corp.:
China Media1 Corp. has obtained rights to premiere Chinese advertising media assets in China. Its affiliate, Guangzhou Chuangrun Advertising Company, operates the advertising space and advertising contracts with top-tier brand names and multi-national corporations as well as large advertising agencies. China Media1 has focused on providing its clients superior advertising locations based on viewership, exclusivity, and uniqueness through the use of its illuminated scrolling poster signs. China Media 1's advertising locations include the Guangzhou and Shenzhen International Airports and the Guangzhou MTR (12 Subway Stations). China Media1's website is http://www.chinamedia1corp.com.
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.
Contacts: China Media1 Corp. Investor Relations 1-866-889-4905 investor*chinamedia1corp.com http://www.chinamedia1corp.com
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
RVEM (.0001) Unveils its New Swimsuit Website With Live Models at www.flaw-lessdesigns.com Business Editors / Fashion Writers
ORLANDO, Fla.--(BUSINESS WIRE)--Aug. 21, 2006--
Raven Moon's Partner Flaw-Less Designs is Now Ready to
Present the "Ms Bzz Swim & Go"(TM) Collection at the
M.A.G.I.C. Fashion Convention
Raven Moon Entertainment, Inc. (OTCBB:RVEM) announced today that its partner Flaw-Less Designs, LLC has unveiled its new website with LIVE Models and is ready to attend the M.A.G.I.C. Fashion Convention in Las Vegas on August 29th & 30th.
Flaw-Less Designs, LLC founder Bernadette DiFrancesco and fashion designer Skip Stewart, who are planning to attend the M.A.G.I.C. fashion convention in Las Vegas later this month with the revolutionary "Ms. Bzz Swim & Go"(TM) swimsuit collection stated, "We are now ready to make a deal with a manufacturer and distributor for this exquisite line for women over 40 who are definitely under-served."
Mrs. DiFrancesco said that sales of women's apparel reached $101 billion in 2005 according to a news release issued by NPD Fashionworld, a division of NPD Group. "Baby Boomer women, which represent about 40 million women between the ages of 42 and 60 in the U.S., are the greatest market opportunity today," said Mrs. DiFrancesco. "Baby Boomers are the largest generational demographic in our country today and retailers are beginning to focus on their needs and wants, particularly for the female portion of the market. But female Baby Boomers are still under-served and I believe that there is tremendous potential for Flaw-Less Designs. Our objective for the brand is to concentrate all our energies on our target market -- it will not be a sideline or brand extension for us."
To meet with the Flaw-Less Designs fashion team and executives in Las Vegas contact Chris Devine Dailey at 310-990-9792 or email her at cdevinedailey*hamlinmarketinggroup.com
For more information go to http://www.ravenmoon.net or contact Carol Merry at Fahlgren Mortine Investor Relations at 614-825-1750 or by email: carol.merry*fahlgren.com.
Safe Harbor Act Notice: This release may contain forward-looking statements that involve risks and uncertainties, including without limitation, acceptance of the company's products, increased levels of competition, product and technological changes, the company's dependence upon financing and third-party suppliers, and other risks detailed from time to time in the company's federal filings, annual report, offering memorandum or prospectus. Specifications are subject to change without notice.
KEYWORD: NORTH AMERICA FLORIDA NEVADA UNITED STATES INDUSTRY KEYWORD: SENIORS WOMEN TECHNOLOGY INTERNET MANUFACTURING TEXTILES RETAIL FASHION SPECIALTY CONSUMER PRODUCT/SERVICE SOURCE: Raven Moon Entertainment, Inc.
CONTACT INFORMATION: For Raven Moon Entertainment, Inc., Orlando Fahlgren Mortine Investor Relations Carol Merry, 614-825-1750 carol.merry*fahlgren.com
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
CLME (.06) Selects Site for Its Ten Million Gallon per Year Ethanol Bio-Refinery
COLUSA, CA -- (MARKET WIRE) -- 08/21/06 -- Colusa Biomass Energy Corporation (PINKSHEETS: CLME) today announced it has selected a 15-acre site for its bio-refinery which is expected to produce 10 million gallons per year of ethanol.
Tom Bowers, CEO of Colusa Biomass Energy, stated that "Arrangements and terms have been agreed for the construction of the Company's bio-refinery. The bio-refinery will be located on a 15-acre site within the Colusa Industrial Park, Colusa, California. By locating in the Colusa Industrial Park's 750 acre facility, CLME has access to the park wastewater handling system, negating the lengthy application of a wastewater permit. In addition, the CIP facility has complete freshwater, electrical and natural gas available for the bio-refinery operations. These resources are all essential to the ethanol production process."
The CLME bio-refinery is located in a prime rice producing area of the Sacramento Valley where rice producers plant approximately 600,000 acres of rice annually. The primary feedstock for the CLME bio-refinery is rice straw, which is a post harvest residue with no commercial value to the rice farmer. Of the approximately 1.3 million tons of waste rice straw residue produced annually in the Sacramento Valley, CLME will utilize approximately 120,000 tons as its feedstock in the production of the 10 million gallons of ethanol.
About Colusa Biomass Energy Corporation
Colusa Biomass Energy Corporation (PINKSHEETS: CLME) in planning to build a bio-refinery which is engineered to convert waste rice straw residue into ethanol. The plant is based on CLME patented and proprietary technologies that converts waste biomass into ethanol for use in transportation fuels. It is important to note that the CLME technology takes nothing from the food stream but only consumes waste biomass such as straws, wood chips, forest slash and orchards trimmings.
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical fact may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from the projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
Contact Information: Tom Bowers CEO Colusa Biomass Energy Corporation Email: tfbowers*aol.com
Jim Holmes CFO CLME Email: jholmes777*aol.com
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
IMOT (.14) Upgrades China Equity Exchange Platform
SHENZHEN, China, Aug. 21 /Xinhua-PRNewswire-FirstCall/ -- Intermost Corporation (OTC Bulletin Board: IMOT) -- a leading electronic equity exchange service provider in China, has completed three months of intensive revisions and upgrades on the China Equity Exchange Platform V1.1 ( http://www.chinaEex.com ).
On May 16, 2006, China's first online equity exchange system -- the China Equity Exchange Platform V1.0 -- was officially launched and immediately gathered a lot of buzz and sensational reviews from the investment community. The China Equity Exchange Platform is a breakthrough in exchange methods, and leading national media and government offices in China have published numerous articles and journals highly praising the efficiency and technology.
Since the launch of the China Equity Exchange Platform V1.0, Intermost Corporation has continued its optimization with continual upgrades and improvements, while partnering with equity exchange centers. Through this upgrading, the platform has improved significantly in its stability, security and efficiency. Investors can now complete online transactions and real-time capital settlements more effectively.
Intermost Corporation has also designed an advanced portal website at http://www.chinaE.com for the equity market. The website is user-friendly, and features solid functionality along with abundant investor information.
Mr. Xiangxiong Deng, acting CEO of Intermost Corporation said, "The new China Equity Exchange Platform V1.1 is highly automated, providing more convenient services than V1.0. Intermost Corporation spares no expense in optimizing our platform and relevant systems. We promise to offer the equity market a world-class platform and top quality services."
Mr. Deng also mentioned, "English and traditional Chinese versions of the portal website ( http://www.chinaE.com ) will soon be launched online. We are constructing http://www.chinaE.com to become a leading portal channel for the China equity market and overseas investors. "
Safe Harbor Statement
This press release contains forward-looking statements that involve risks, uncertainties and assumptions that, if they never materialize or if they prove incorrect, could cause the Company's results to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenue, or other financial items, any statements of the plans, strategies, and objectives of management for future operations, any statements concerning proposed new products, services or developments, any statements regarding future economic conditions or performance, statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations as of the date of this press release. Actual results may differ materially from those projected because of a number of risks and uncertainties, including those detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. The Company assumes no obligations and does not intend to update these forward-looking statements. Contact:
Intermost Corporation
Mr. Andy Lin
Ms.Carmen Liu
Tel: +86-755-8221-0238
Email: ir*intermost.com
SOURCE Intermost Corporation
Contact Information: Mr. Andy Lin and Ms.Carmen Liu of Intermost
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
CONX (.34) Aspirin Resistance Test Licensed to Corgenix Receives U.S. Patent Office Approval Business Editors / Health/Medical Writers
DENVER--(BUSINESS WIRE)--Aug. 21, 2006--
U.S. Patent Office Grants Patent # 7,081,347 for Unique Methods for "Assessing Aspirin Resistance" and Risk of Cardiovascular Disease in
Patients Taking Aspirin
Corgenix Medical Corporation (OTC BB: CONX), a worldwide developer and marketer of diagnostic test kits, has received notification of U.S. Patent Office approval for technology to which Corgenix and strategic partner Creative Clinical Concepts (CCC) hold exclusive worldwide licensing rights.
McMaster University (McMaster) of Hamilton, Ontario, is the original and sole owner of the aspirin resistance measurement method. Corgenix has developed the AspirinWorks(R) test kit, comprised of the components necessary to perform the quantitative measurement.
Based on results obtained from the Heart Outcomes Prevention Evaluation (HOPE) Study published in the March 25, 2002 issue of Circulation(1), the patent approval covers the ability of the AspirinWorks(R) Test Kit* to assess a patient's resistance to the anti-clotting effects of aspirin and also to assess the risk of a cardiovascular event (heart attack or stroke) in patients taking aspirin.
"This action by the U.S. Patent Office is a testament to our innovation and the strength of our strategic partnerships," said Douglass Simpson, Corgenix President and Chief Executive Officer. "Furthermore, it reinforces our strong expectations for this product following its recent submission for FDA pre-market clearance in the U.S."
The AspirinWorks(R) Test Kit - the Company's newest diagnostic product for cardiovascular disease - is a simple urine test that measures an individual's response to aspirin dosage and allows physicians to adjust the dosage or recommend alternative therapy. Recent reports indicate that up to 25 percent of individuals may be non-responsive to aspirin's benefits, and are more than three times more likely to die from heart disease.
Under terms of a license agreement with McMaster, Corgenix and CCC have exclusive worldwide rights to the proprietary technology owned by McMaster for the development, manufacturing and marketing of innovative diagnostic tests specific to the pathway by which aspirin acts on platelets. Corgenix recently submitted a Premarket Notification (510k) to the U.S. Food and Drug Administration (FDA) for the AspirinWorks(R) Test Kit.
The AspirinWorks(R) Test Kit is a quantitative enzyme-linked immunoassay (ELISA) to determine levels of 11-Dehydro Thromboxane B2 (11dhTxB2) in human urine, which aids in the assessment of the response to aspirin. The kit was launched internationally in July at the 52nd Annual Scientific and Standardization Committee of the International Society on Thrombosis and Haemostasis held in Oslo, Norway.
The AspirinWorks(R) product was developed in conjunction with Corgenix' strategic partners, Creative Clinical Concepts (CCC), a Denver based biotechnology company, and Cayman Chemical Company (Cayman), an Ann Arbor, Michigan manufacturer of biochemical research products. Corgenix and CCC have previously announced collaboration with McMaster University (McMaster), Hamilton, Ontario.
The McMaster technology includes several patents pending in the United States, Canada and Europe, and has received notice of allowance of the first of the U.S. patent applications. In addition to licensing the McMaster technology, Corgenix also has a U.S. patent pending on the AspirinWorks(R) product.
*The AspirinWorks(R) Test Kit has not been cleared by the FDA for in vitro diagnostic use in the United States. In all countries where the use of this product has not been cleared, the product shall not be used for diagnostic use as the performance characteristics have not been established.
About Corgenix Medical Corporation
Corgenix is a leader in the development and manufacturing of specialized diagnostic kits for immunology disorders, vascular diseases and bone and joint disorders. Corgenix diagnostic products are commercialized for use in clinical laboratories throughout the world. The company currently sells over 50 diagnostic products through a global distribution network and has significant experience advancing products through the FDA process. More information is available at http://www.corgenix.com.
Statements in this press release that are not strictly historical facts are "forward looking" statements (identified by the words "believe", "estimate", "project", "expect" or similar expressions) within the meaning of the Private Securities Litigation Reform Act of 1995. These statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, changes in the regulatory environment, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. The statements in this press release are made as of today, based upon information currently known to management, and the company does not undertake any obligation to publicly update or revise any forward-looking statements.
(1) Eikelboom, et al. Circulation. 2002;105:1650-5.
KEYWORD: NORTH AMERICA COLORADO UNITED STATES INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY CARDIOLOGY PRODUCT/SERVICE SOURCE: Corgenix Medical Corporation
CONTACT INFORMATION: Corgenix Medical Corp. William Critchfield, 303-453-8903 wcritchfield*corgenix.com or Investors: The Investor Relations Group Dian Griesel or Erika Moran, 212-825-3210 Fax: 212-825-3229 or Media Relations: Armada Medical Marketing Dan Snyders, 303-623-1190 x 230 dan*armadamedical.com
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
CyberTel Capital Releases Audited Financial for HBLN Services Which Completes the Acquisition of HBLN as a Wholly Owned Subsidiary of Cybertel Capital Corporation PR Newswire - August 21, 2006 09:01
SAN DIEGO, Aug 21, 2006 /PRNewswire-FirstCall via COMTEX/ -- CyberTel Capital Corporation (OTC Bulletin Board: CBCL) released last Friday the audited financial statements for HBLN Services, Inc. of Atlanta, Georgia. CBCL acquired 100% interest in HBLN Services, which now operates as a wholly owned subsidiary of the company. In 2005, its sixth year of operation, HBLN generated $410,892 in sales revenues and a gross profit of $141,778. Net income for the company in 2005 was $106,076. More information can be found in the Form 8K the Company filed with the Security and Exchange Commission on August 18, 2006.
A specialty consulting and management firm offering full service capabilities in the wireless, telecommunications and broadband businesses, HBLN works with clients to develop and deploy WiMAX broadband services for service providers, large and small with its select group of consultants, vendor partners and key relationships within the telecommunications and venture capital community.
Stated James Wheeler, CEO of CyberTel Capital, "The WiMAX market will grow at double-digit rates for the next several years. The expertise that HBLN Services has developed is needed by early market entrants to succeed with their investments."
Stated Walt Henley, President of HBLN Services, "We are currently advising leading industry service providers on business plans, technology selection and operations support systems for large-scale WiMAX deployments. With recent announcements by Sprint and Clearwire regarding their investments, we are confident that we have a large opportunity."
About HBLN Services
HBLN Services provides support for business development including the people, processes and technologies required to successfully deploy and operate networks of all kinds. HBLN provides business planning, development, engineering and deployment assistance from a base of experienced consultants across multiple disciplines. More information on HBLN Services can be found by visiting its web site at http://www.hblninc.com
About CyberTel Capital Corporation
CyberTel Capital Corporation is a holding company with interests in areas of telecommunications, data management, information systems and public safety communication and response solutions. CyberTel trades on the OTC Bulletin Board under the ticker symbol CBCL.
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statement of CBCL officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future CBCL actions, which may be provided by management, are also forward-looking statements defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the CBCL to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and CBCL has no specific intention to update these statements.
SOURCE CyberTel Capital Corp.
James Wheeler of CyberTel Capital Corp., +1-858-646-7410, investor*cbclinc.com
Copyright (C) 2006 PR Newswire. All rights reserved.
-------------------- "As long as there are dreamers, there are dreams that will come true." Posts: 862 | From: CT Yankee..... in FLA | Registered: Aug 2005
| IP: Logged |
posted
TMLN 0.65 announced that it has terminated a limited license to Microsoft Corporation
SEATTLE, Aug. 21, 2006 (PRIMEZONE) -- Timeline, Inc. (OTCBB:TMLN) announced that it has terminated a limited license to Microsoft Corporation (Nasdaq:MSFT) under Timeline's patents. In conjunction with the termination of the license, Timeline has filed a motion in federal district court in Seattle asking the court to add Microsoft as a defendant in Timeline, Inc. v. ProClarity Corp.
In the new complaint, Timeline alleges that Microsoft SQL Server infringes Timeline's patents by creating databases for on line analytical processing (OLAP). The new complaint also alleges that Microsoft breached the terms of a 1999 agreement that gave it a limited license under Timeline's patents. The scope of the license in the 1999 agreement was previously the subject of extensive litigation between the parties. In 2002, a final decision of the Washington Court of Appeals held in Timeline's favor. That decision confirmed the license does not cover infringing combinations of non-Microsoft products and Microsoft products where the non-Microsoft product supplies a material element of the patent claim.
"The cash component paid by Microsoft under the 1999 agreement was only a portion of the total consideration," said Charles Osenbaugh, CEO of Timeline. "Microsoft failed to honor the limited scope of the license as decided by the Court of Appeals. It also failed to comply with other important provisions of the agreement. Because Microsoft has so clearly disregarded its obligations under the agreement, Timeline believes it is within its rights to terminate the license and seek damages for infringement of its patents."
The grounds for termination and the reasons for bringing Microsoft into the case are set forth in greater specificity in papers filed with the Court. Timeline is required to file them under seal until and unless the Court decides they can be unsealed. Consequently, Timeline cannot comment beyond what is set out in this press release at this time.
Timeline is represented by Rohde & Van Kampen P.L.L.C. and Susman Godfrey L.L.P. in this matter.
About Timeline
After 28 years of developing, marketing and supporting innovative software applications, Timeline, Inc. recently reorganized around a dedicated effort to license its intellectual property to the industry at large. In 2005 it completed the sale of its European subsidiary and the assets of its applications line of business. The company believed it was an inherent conflict of interest to market patented intellectual property to companies with which it competed on a day to day basis for end user software licensees. By selling the applications business, the company is now solely focused on commercializing its patent portfolio. This effort is intended to maximize shareholder value and to allow the benefits of its prior innovations to reach a far greater audience than was possible through its own limited resources. Timeline can be reached at 206-357-8422 or on the web at www.tmln.com. The vast majority of these patents involve the automation of building and using data marts and warehouses with structures optimized for analysis on data originally housed in source on line transaction data stores. These 'pioneer' patents have been licensed to many of the thought leaders in analytic reporting including, among others, Oracle, Microsoft, Hyperion, Cognos, Group One, and Crystal (now Business Objects).
CONTACT: Timeline, Inc. Charlie Osenbaugh, CEO Paula McGee, Investor Relations (206) 357-8420
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
TRSI 0.03 increase its involvement in oil field redevelopment projects in the Southwestern region of the U.S
CARLSBAD, Calif.--(BUSINESS WIRE)--Aug. 21, 2006-- Trophy Resources, Inc. (Pink Sheets:TRSI) is planning to increase its involvement in oil field redevelopment projects in the Southwestern region of the U.S. The Company is currently evaluating multiple prospects that show significant potential in oil reserves in the Southwest as well as Appalachia. Eric Leonetti, Trophy Oil COO: "With the price of crude oil maintaining its value in the mid to low $70s, we believe this is the right time to explore more oil field redevelopment projects." Trophy Oil is focused on the most cost-effective means of oil exploration, including the use of water and inert gas flood methods to reinvigorate once productive fields. Added Mr. Leonetti: "the rework and flood programs using existing wells provides more profit potential to investors than new drilling; it is less capital intensive, there is a higher probability of success as a result of historical records of oil production, and, the return on investment is achieved earlier." Trophy Resources assesses all projects on the basis of defined investment criteria including the preservation of capital and mitigation of risk.
About Trophy Resources
Trophy Resources, Inc. (www.trophyoil.com) is a publicly traded company dedicated to building a diverse portfolio of high value, low risk energy and mining projects. The Company's goal is to evaluate profitable options, build a solid foundation of assets through acquisition of land and/or leases, and explore and develop opportunities on these leases.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. Trophy Resources, Inc. is an exploration with limited experience in the oil and gas industry. At the time of this release Trophy Resources lacks the financial capabilities to meet its financial obligations and its management expects to dilute the company's shares to raise the necessary operating capital. Based upon industry standards Trophy would be considered highly speculative and lacks any competitive advantage over its competition. Additional risks you should consider, this list is limited and additional risk not mentioned may apply: failure to meet Trophy's financial and contractual obligations, Trophy's managerial errors made based upon the Company's limited experience and knowledge of the industry, commodity risk, acts of God and regulatory risk. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.
KEYWORD: NORTH AMERICA CALIFORNIA TEXAS UNITED STATES INDUSTRY KEYWORD: ENERGY OIL/GAS PRODUCT/SERVICE SOURCE: Trophy Resources, Inc.
CONTACT INFORMATION: Trophy Resources Eric Leonetti, 866-284-8617 or Trophy's Investor Relations Firm D P Martin & Associates Doug Martin, 561-514-0196
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
NEW YORK--(BUSINESS WIRE)--Aug. 21, 2006--Buysellmerge.com, a division of First Guardian Financial Corporation (Pink Sheets: FGFC - News) today announced the status and progress directed toward the much anticipated launch date of its premier business portal. ADVERTISEMENT
The company has recently moved some of its hosting servers to eapps Business Application Solutions http://eapps.com/Company/AboutUs.jsp as this will allow the company the additional applications that are required for a portal of this complexity.
The company decided on eapps.com to provide the following additional hosting and applications for the portal Advanced Plus VPS - Ruby/Java/LAMP, Apache 2.0.52, Apache module mod perl, Apache module mod ssl, imap, IPTables, J2RE, J2SDK, JBoss4, Mod Jk, MySQL Server v5, Control Panel, SSH and other certain administrative functions and applications.
The company has also acquired a license for a SSL Cert from Verisign Secure, that is required for an interactive portal of this magnitude. VeriSign Inc operates intelligent infrastructure services that enable and protect billions of interactions every day across the world's voice and data networks. Every day, we process as many as 18 billion Internet interactions and support over 100 million phone calls. We also provide the services that help over 3,000 enterprises and 500,000 Web sites to operate securely, reliably, and efficiently. VeriSign is a global enterprise with offices throughout the Asia-Pacific region, Europe, Latin America, and North America, supported by a widespread international network of data centers and operations.
The company has been working on a fierce fast track basis including this past weekend to get the portals phase one completed and rolled out by this week so that pre official launch tests can be completed, and to work out any technical problems over the internet that may occur, with phase two and three to be added quickly upon satisfactory function ability.
"We are very pleased with the efforts of Dr. Cheng and Mr. Mohamed and their development team with the commitment to this project and their determination to be the outstanding business portal on the World Wide Web. We envision Buysellmerge.com to be to the business world what Yahoo and Google are to the retail & consumer market," said Abraham Rosenman, President First Guardian Financial Corporation
-------------------- If ignorance is bliss, why aren't more people happy? Posts: 2647 | From: MN | Registered: Feb 2006
| IP: Logged |
posted
UTYW 0.11 has received a US$400,000 purchase order
BURNABY, BC -- (MARKET WIRE) -- 08/21/06 -- Unity Wireless Corporation (OTCBB: UTYW), a supplier of wireless systems and coverage-enhancement solutions, has received a US$400,000 purchase order for a variety of the Company's GSM Repeaters from a wireless network operator in Turkey. The order is scheduled to be delivered in the current quarter.
Ilan Kenig, President and CEO of Unity Wireless commented, "We are pleased to see that following our recent acquisitions our repeater product line is gaining recognition in new territories and with new clients around the world. Unity is now positioned as a global-based company with physical operations in several countries around the world, including the USA, Canada, Israel, China, South America, India, the UK, and Taiwan. Our increased ability to support our clients is expected to positively impact our top and bottom lines this year."
Mr. Kenig added, "We are focused intently on driving our sales higher, maximizing product line opportunities and channel partner relationships. With the broader product offering we now have, we expect orders such as this one will become a very frequent event."
Each of these repeaters provide exceptional coverage due to their low noise figures and high gain, while having minimal impact on the donor cell, using wide range gain control for performance optimization. Hermetically sealed enclosures, integrated electronics and built-in test and recovery capabilities also make these repeaters extremely reliable. Additional features include auto level control for power overload protection and an SMS-based NMS (Network Management System) tool that can allow network operators to monitor and control the repeaters remotely through an internal wireless modem.
"The global sales team and distribution network we now have as a result of our recent acquisitions are directly responsible for this order," said David Orton, Vice President, Sales - Coverage Solutions. "After bidding in an open tender to supply this new customer we expect that this will likely be the first of many substantial orders that we will receive this year."
Repeaters are used by operators of wireless networks to fill-in gaps in their coverage areas where the cost to install an entire base station and its related infrastructure is prohibitive. Unity Wireless offers a full range of repeaters in multiple configurations, serving operators of CDMA, GSM and WCDMA (UMTS) networks in 800, 900, 1800, 1900 and 2100 MHz bands. The Company intends to offer additional product lines to support the deployment of WiMax networks using OFDM modulation.
About Unity Wireless
Unity Wireless is a supplier of wireless systems and coverage-enhancement solutions for wireless communications networks. For more information about Unity Wireless, visit www.unitywireless.com.
Forward-Looking Statements
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "feel," "plan," "anticipate," "project," "could," "should" and other similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. These forward-looking statements are subject to a number of risks and uncertainties including, without limitation, inability to raise the funds necessary for the continued operations of the Company, changes in external market factors, and other risks and uncertainties indicated in the Company's most recent SEC filing on form SB-2. Actual results could differ materially from the results referred to in the forward-looking statements.
Investor Contact: James Carbonara The Investor Relations Group (212) 825-3210
Mike Mulshine Osprey Partners (732) 292-0982 osprey57*optonline.net
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
BALTIMORE, MD -- (MARKET WIRE) -- 08/21/06 -- View Systems, Inc. (OTCBB: VYST), -- Working to provide corporate customers with the most technologically advanced walk-through Concealed Weapons Detection Systems, T&M Protection Resources and View Systems today announced a strategic alliance to deliver View Systems-branded Concealed Weapons Detectors to T&M's existing and prospective corporate customers.
T&M Protection Resources is a leading New York-based, multi-disciplined security firm providing a comprehensive array of solution-based services to a growing list of prestigious corporate, financial, institutional and private high net-worth clients to enable them to meet the challenges posed by today's threats and risks. The company's offerings include Security Technology Solutions, Forensic Investigations, Executive Protection, Uniformed Physical Security, Explosive Detection Canine Services, Technical Surveillance Countermeasures and Security Consulting.
As part of the alliance, T&M's current and prospective corporate customers will be introduced to View Systems' Concealed Weapons Detectors through T&M sponsored customer meetings, live demonstrations, webinars, and exclusive customer forums that will be held at selected locations in New York City. T&M's current portfolio of security services will be complemented with View Systems' Concealed Weapons Detectors which will be displayed in all of T&M's marketing materials including on its website.
"T&M's goal is to offer the most compelling and technologically advanced weapons detection systems to our customers," said Robert Tucker, Chairman and Chief Executive Officer of T&M. "We explored a range of alternatives to deliver the best weapons detectors on the market and concluded that View Systems' Concealed Weapons Detectors are the best by far. By partnering with View Systems, we have the opportunity to offer greater value to our customers by integrating View Systems' weapons detectors with T&M's existing and diverse portfolio of security solutions."
View Systems' easy-to-use software displays and tracks persons who are carrying concealed weapons, greatly simplifying the process for discriminating between suspicious objects and harmless ones. Its highly sensitive completely passive sensor technology accurately detects the location and number of concealed weapons such as knives, guns, and razor blades. Simultaneously, it ignores personal artifacts such as coins, keys, and belt buckles. View Systems' open PC-based platform and network capabilities allow for fast and easy system integration; this can include closed circuit television, two-way audio, door interlocks, access control systems, and biometric identification systems.
"View Systems' goal is to strategically sell its weapons detection technology to New York-based large prestigious organizations like investment banks, class A buildings and other high profile facilities that could benefit from its Concealed Weapons Detection Systems," said Gunther Than, View Systems' CEO. "By partnering with T&M, an innovative diversified security services company with a stellar reputation for excellent service as well as an existing and established portfolio of strong customer relationships in New York City, we are confident that we will meet our strategic objectives. T&M's current client list contains a good portion of the Fortune 1000, many of which are headquartered in New York City," Mr. Than concluded.
About View Systems, Inc.
View Systems, Inc. provides security and surveillance products to law enforcement facilities such as correctional institutions as well as to government agencies, schools, courthouses, event and sports venues, the Military, and commercial businesses. View Systems has a network of distributors, licensees and strategic alliance affiliates. View Systems designs and develops concealed weapons detection (CWD) portal systems with biometric capabilities, as well as a camera system geared towards emergency first responders.
About T&M Protection Resources, Inc.
More information about T&M is available at http://www.tandmprotection.com or via its New York headquarters office at 212-422-0000. All customer inquires should be directed to Paul Berger, Vice President of T&M's Technical Security Solutions Division at 516-876-0001.
Forward-Looking Statements
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
RPTN 0.38 has partnered with Advanced Computer Engineering Services
SANTA ANA, Calif., Aug. 21 /PRNewswire-FirstCall/ -- Raptor Networks Technology, Inc. (OTC Bulletin Board: RPTN) is pleased to announce that it has partnered with Advanced Computer Engineering Services (ACES) to provide "distributed architecture" network products and upgrade services to the banking industry. (Logo: http://www.newscom.com/cgi-bin/prnh/20040429/RPTNLOGO ) "We pride ourselves in finding innovative, cost effective solutions for our clients," noted Phil Kenealy, President of ACES. "Now, with Raptor's highly unique networking products, we will be in a position to provide our clients industry-leading network capabilities at a surprisingly affordable price." Tom Wittenschlaeger, Chief Executive Officer of Raptor Networks, noted, "We are very pleased to join ACES in targeting the banking vertical. We believe our unique RAST technology, allowing geographically dispersed bank branches to be securely connected onto a common high speed core is a sensible upgrade applicable to virtually all financial institutions." About Raptor Networks Technology, Inc. Raptor Networks Technology, Inc. has developed the world's first distributed network switching architectures, all standards based, that benefit networks that provide newer latency-sensitive services such as video, VOIP, high speed storage and the like. This patent-pending Distributed Network Switching Technology blurs the distinction between core switching and edge switching, enabling network build outs and performance upgrades of traditional chassis-based installations in a highly cost effective manner. Management believes that the unique advantage Raptor provides is data transport at wire speed (the maximum speed at which the equipment is built to operate), providing the highest density 10 Gigabit wire speed offering currently on the market, with the versatility to run the most advanced new data applications. For additional information please see, www.raptor-networks.com. About Advanced Computer Engineering Services (ACES) ACES is an IT services company providing technology solutions to Small and Medium sized businesses and organizations since 1995. ACES provides targeted technology solutions to enhance business productivity and reduce overall IT costs. ACES professionals provide systems engineering, installation and support for a breadth of IT and networking needs, including servers, firewalls, routers, switches and personal computers. Services are tailored to each businesses' core infrastructure requirements, with an eye towards productivity enhancement. More information is available at www.acesiowa.com Safe Harbor Statement The statements in this release relating to future product availability, collaboration and partnership, and positive direction are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Some or all of the aspects anticipated by these forward-looking statements may not, in fact, occur. Factors that could cause or contribute to such differences include, but are not limited to, contractual difficulties, demand for Raptor Networks' products, the future market price of RPTN common stock and the Company's ability to obtain necessary future financing. Contacts: Raptor Networks Technology, Inc. Tom Wittenschlaeger/Bob Van Leyen Tel: 949-623-9300 SOURCE Raptor Networks Technology, Inc.
Contact Information: Tom Wittenschlaeger, or Bob Van Leyen, both of Raptor Networks Technology, Inc., +1-949-623-9300
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
GRWW 0.47 executed an agreement with Michael O'Leary
HERTFORD, N.C., Aug. 21 /PRNewswire-FirstCall/ -- Greens Worldwide Incorporated (OTC Bulletin Board: GRWW) announced today that it has executed an agreement with Michael O'Leary, to manage the newly formed PLAYERS TOUR -- CALIFORNIA SERIES, North and South regionals, a wholly owned subsidiary of Greens Worldwide. The Players Tour -- California Series will be launched for 2007 as two of the 7 regional tours of the US Pro Golf Tour, a wholly owned subsidiary of Greens Worldwide. www.usprogolftour.com . The other regional tours of the USPGT to be launched in 2007 are Players Tour, Florida Series, New England Players Tour www.neprogolftour.com , Tight Lies Players Tour, East, Tight Lies Players Tour, West, www.tightliestour.com , and the Tar Heel Players Tour, Carolina Series, www.tarheeltour.com . Mr. O'Leary currently owns and operates the Golden State Golf Tour. The Golden State Tour is Southern California's longest running developmental golf tour, providing a training ground for aspiring professional golfers over the last 24 years. "The addition of Mike and his staff, who successfully operate the Golden State Tour, to the management of the 'PLAYERS TOUR -- California Series' regional tours of the USPGT is incredibly exciting. The operation of the Golden State Tour over 24 years in the industry is unparalleled, and we feel very fortunate that they have joined the Greens family in this management role. Greens Worldwide has been able to assemble significant talent and operating experience of some of the top Tour operators in the country, and certainly Mike and his staff at Golden State Tour fit into that category, having operated the predominate tour in California in the recent past. I, as well as the entire staff and management of Greens Worldwide, look forward to working with Mike and his staff in the development of the PLAYERS TOUR -- California Series regional tours for 2007 and beyond," stated R. Thomas Kidd, CEO of Greens Worldwide Incorporated. "We are excited about the opportunity of managing the PLAYERS TOUR -- California Series and building our relationship with the USPGT and the other regional tours. This vision of the management at Greens Worldwide is not only providing a great training ground for the PGA Tour, but allowing these talented players to earn a living at this level," O'Leary states. About the Golden State Tour: The Golden State Tour was formed in 1982 and has consistently provided aspiring professionals a competitive place to play for the last 24 years. Based in Southern California, the GST is able to provide these competitive events on a year round basis. The tour changed ownership in 2004 as one generation retired and a new owner, Michael O'Leary, changed the mentality of the tour. A former Head Golf Professional and a former mini-tour player himself, Michael understood both sides of his business ... the golf course needs in preparing for events and the perspective of the mini-tour professional. The Golden State Tour's history is long and distinguished and its association with PGA Tour players is second to none as hundreds of players have participated in Golden State Tour events before achieving their goal ... Mark O'Meara, Fred Couples, John Cook, Jim Furyk, Tom Lehman, Scott McCarron, Jason Gore, Steve Pate, Kirk Triplett, Pat Perez, Jeff Gove are just a few. In 2005, seven (7) GST players qualified for the US Open. About Greens Worldwide Incorporated Greens Worldwide Incorporated is a vertically integrated sports marketing and management company, engaged in owning and operating sports entities and their support companies and is publicly traded under the stock symbol GRWW. Our current operating subsidiaries are the US Pro Golf Tour, Inc. www.usprogolftour.com , Breakthru Media, Inc. www.breakthrumedia.com , Crowley and Company Advertising, Inc. www.crowleyadvertising.com , New England Pro Tour, Inc. www.neprogolftour.com , Still Moving, Inc. www.still-moving.com , Las Vegas Golf Schools, Inc. www.gotogolfschool.com , and American Challenge Golf Tour www.acgtour.com . In our continuing effort to develop a more cohesive and synergistic organization, we are structured in a way that allows all of our wholly owned subsidiaries to utilize each other's resources to the greatest extent possible. In addition, the Company's strategic plan is to be able to deliver substantial value by providing multiple sports platforms and media to leverage our partners advertising and promotional dollars, while delivering the finest entertainment opportunities to retain and build customers. For our non-sports businesses, we will utilize the media and promotional benefits of our media platforms in Television, Radio, and Print, together with Internet Television and other like strategic relationships, to grow our consolidated revenues. The Company intends to continue its strategy of acquiring profitable sports organizations and sports related firms, together with other businesses that would benefit from the synergy the Company provides. www.grwwsports.com Important Information About Forward-Looking Statements The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created thereby. Forward-looking statements deal with the Company's current plans, intentions, beliefs and expectations. Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. Contact Tom Kidd Chief Executive Officer 252.264.2064 SOURCE Greens Worldwide Incorporated
Contact Information: Tom Kidd, Chief Executive Officer of Greens Worldwide Incorporated, +1-252-264-2064
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
BKYI (.419)Fingerprint Software Aids in Identification of Refugees for South African Government
WALL, N.J., Aug. 21 /PRNewswire-FirstCall/ -- BIO-key International, Inc. (OTC Bulletin Board: BKYI), a leader in finger-based biometric identification and wireless public safety solutions, along with Biometric Technologies South Africa, a BIO-key partner and provider of biometric identification solutions, have successfully deployed a fingerprint identification system as part of South Africa's Department of Home Affairs Refugee Program.
In the initial implementation of a program launched by the South African Government, five centers have been opened to enroll an initial 100,000 refugees utilizing the BIO-key/Biometric Technologies system known as the South African Refugee and Asylum Seekers Biometric Identification System. Many refugees from all over Africa lack identification documents recognized by the HANIS system currently used by the government. The Biotech/BIO-key solution enables the refugees to register with the government using unique identifiers (fingerprints and photographs) as part of their application for seeking asylum in South Africa. This process includes the issuance of an identification document which helps reduce the refugees' vulnerability to refusal of services and other forms of discrimination.
The Biotech/BIO-key identification system has been operating for over a year as part of a pilot program monitored by the United Nations High Commissioner for Refugees (UNHCR). The core of the identification process is built around WEB-key(R), BIO-key's scalable client/server software that provides rapid, accurate user identification with the touch of a finger. Edwin Dreyer, Biometric Technology's Managing Director added: "One of the challenges we face is updating the existing records for 46 million people into a single database accessible to all authorized governmental organizations: such as the criminal justice system; the population records of births, deaths, marriage passports, driver's licenses etc. This is a major long-term challenge, and we are leveraging our successes -- in this small but significant sector -- in the refugee identification program to tackle even greater projects within the government and in private industry."
The Minister of Home Affairs of South Africa, Nosiviwe Mapisa-Nqakula, stated, "At Home Affairs, we recognize the importance and central role we play to enable other departments of government, private sector and public at large to function effectively and without hindrance. The biometric identification software provides us with the ability to quickly and efficiently capture the identity of refugees as part of our commitment to clear the backlog of refugees who have applied for asylum."
"Government agencies are expanding their adoption of BIO-key technology to deliver scalable solutions for identifying individuals within large populations. Our advanced fingerprint solutions are rapidly becoming the new standard for accurate identification ... a more secure and convenient alternative to identify people in place of traditional paper documents, card based systems or expensive AFIS solutions," said BIO-key CEO Mike DePasquale.
About BIO-key
BIO-key develops and delivers advanced identification solutions and information services to law enforcement departments, public safety agencies, government and private sector customers. BIO-key's mobile wireless technology provides first responders with critical, reliable, real-time data and images from local, state and national databases. BIO-key's high-performance, scalable, cost-effective and easy-to-deploy biometric fingerprint identification technology accurately identifies and authenticates users of wireless and enterprise data to improve security, convenience and privacy and to reduce identity theft. Over 2,500 police, fire and emergency services departments in North America use BIO-key solutions, making BIO-key the leading supplier of mobile and wireless solutions for public safety worldwide. (http://www.bio-key.com )
About Biometric Technologies
Biometric Technologies has been a BIO-key partner for 4 years and has represented BIO-key's WEB-key technology throughout Africa and Europe. Biometric Technologies has formed vital alliances with Oracle, Sybase, HP and most of the hardware suppliers to ensure seamless integration of WEB-key's software with all existing legacy systems, including the open source Linux technology.
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 these statements. The words "estimate," "project," "intends," "expects," "believes" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on 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. For a more complete description of these and other risk factors that may affect the future performance of BIO-key International, see "Risk Factors" in the Company's Annual Report on Form 10-KSB and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company also undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events. For more information:
Press Contact:
Julie Garand
508-460-4036
julie.garand*bio-key.com
Investor Contact:
Gus Okwu
Dennard Rupp Gray & Easterly, LLC
713-529-6600 (Houston Office)
gokwu*drg-e.com
SOURCE BIO-key International, Inc.
Contact Information: press, Julie Garand of BIO-key International, Inc., +1-508-460-4036, or julie.garand*bio-key.com ; or investors, Gus Okwu of Dennard Rupp Gray & Easterly, LLC, +1-713-529-6600, or gokwu*drg-e.com , for BIO-key International, Inc.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
