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MCET (.26) Files Milestone Patent to Treat Cancer
Business Wire "US Press Releases "
SAN DIEGO--(BUSINESS WIRE)--
MultiCell Technologies, Inc. (OTCBB: MCET), developing first-in-class drugs based on advanced immune system modulation and other proprietary technologies, today announced the filing of a milestone patent that provides a potential method for treating a range of malignant tumors using the Company's unique technologies to manipulate the immune system.
MultiCell is an innovator in the science of modulating the human immune system with unique platform technologies, focusing on the development of breakthrough drugs to treat serious autoimmune diseases, including multiple sclerosis and type-1 diabetes, as well as influenza. Currently, the market for therapies that address these diseases is estimated at $8 billion worldwide. The new patent filing broadens protection of MultiCell intellectual property portfolio, and further expands the Company potential therapeutic development targets to include cancer.
The patent filing, "Methods for Tumor Control and Treatment by Loading an Antigen Presenting Cell," covers the use of MultiCell's proprietary dsRNA and Toll-like receptor (TLR) technology platform to combat malignant tumors in human patients.
"The implications for this patent-pending technology are far-reaching and could someday help treat the millions of patients suffering from various cancers," said Dr. Stephen Chang, President and Chief Executive Officer of MultiCell. "We believe that this patent further validates our scientific and business model to develop drug candidates that work with the body's own immune system to deliver an entirely new generation of disease-specific immunotherapeutics."
The Company's technology platforms include TLR and T-cell targeting to modulate both the innate and adaptive immune systems, thus enabling the creation of advanced drug candidates that stimulate or suppress the immune system via disease-specific targeting.
MultiCell's new patent provides a method for treatment of a tumor after clinical diagnosis. The method involves the loading of an antigen presenting cell with at least one tumor associated T-cell epitope attached to an IgG backbone to form an Ig-peptide molecule followed by administration of the Ig-peptide molecule in vivo in conjunction with MultiCell's dsRNA TLR therapeutic.
MultiCell has a therapeutic pipeline with drug candidates already in various advanced stages of human clinical trials. These therapies include:
-- MCT-125 for the treatment of chronic fatigue in MS patients. MCT-125 completed a Phase II clinical trial and demonstrated significant efficacy in reducing chronic fatigue in MS patients. There is no drug specifically approved for the treatment of chronic fatigue in MS patients anywhere in the world.
-- MCT-175 for the treatment of relapsing-remitting MS. MCT-175, in preclinical development for the treatment of relapsing-remitting MS, targets disease specific autoaggressive T-cells that destroy the myelin sheath of nerve cells. MCT-175 successfully ameliorated the disease in animal models.
-- MCT-275 for the treatment of type-1 diabetes. MCT-275, in preclinical development, targets disease-specific autoaggressive T-cells that destroy insulin producing cells in the pancreas. MCT-275 completely reversed the type-1 diabetic phenotype and prolonged life in animal models.
-- MCT-465 for the treatment of virus infection. MCT-465 in preclinical studies successfully reduced pulmonary influenza virus levels 1,000-fold in animal models, and has demonstrated effectiveness in reducing virus levels of HIV and HCV in animal models.
About MultiCell Technologies, Inc.
MultiCell Technologies, Inc. is an integrated biopharmaceutical company committed to the development of breakthrough therapeutics based on a portfolio of therapeutic candidates and patented drug development technology. MultiCell's drug development program is focused on modulation of the immune system. The Company's lead drug candidates include drugs to treat MS-related chronic fatigue, relapsing-remitting multiple sclerosis, type-1 diabetes and infectious disease. The Company also holds unique cell-based technology for use in drug discovery screening applications, and is a leading producer of the cell lines needed by the biotechnology industry to develop new drugs and therapeutics. For more information about MultiCell Technologies, please visit http://www.MultiCelltech.com. For investor information about MultiCell, please visit http://www.trilogy-capital.com/tcp/multicell. For current stock price quotes and news, visit http://www.trilogy-capital.com/tcp/multicell/quote.html. To view the Company Investor Fact Sheet, visit http://www.trilogy-capital.com/tcp/multicell/factsheet.html. To listen to an archived investor conference call, visit http://www.trilogy-capital.com/tcp/multicell/conference.html.
Source: MultiCell Technologies, Inc.
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PFSD (.13) Releases Annual Report: Company Shows First-Ever Profit in 4th Quarter on 97% Increase in Annual Sales
Business Wire "US Press Releases "
RACINE, Wis.--(BUSINESS WIRE)--
Pacific Sands, Inc (NASDAQ OTCBB: PFSD) is pleased to announce that the company achieved it first profitable quarter in the company history in 4th quarter of fiscal 2006 and demonstrated its 7th consecutive period of quarter over same quarter sales growth.
NOTE: This press release represents only the highlights of our recently filed 10K-SB Management Discussion section. Investors are encouraged to read the entire contents of the filing in detail including discussions of risks available publicly at: www.pacificsands.biz/html/investor_relations.html
Highlights:
Pacific Sands develops, manufactures, markets and sells a range of non-toxic, environment friendly cleaning and water-treatment products based on proprietary blended botanical and nontoxic chemical technologies. The Company products have applications ranging from water maintenance to cleaning and pet care.
Through the combination of increasing sales and gross profits surpassing the measured increases in selling and administrative expenses, the Company realized its first quarterly net profit in the 4th quarter of fiscal 2006.
In the fourth quarter of the fiscal year ending June 30, 2006 the Company reached quarterly profitability for the first time in its history with net sales of $166,531, gross profit of $101,956 and net earnings of $38,463 or approximately .001 per share. This compares to net sales of $126,067, gross profit of $70,260 and a net loss of $51,586 for the same period the previous fiscal year. Increases in direct internet retail sales, sales to retail outlets, distribution outlets and OEM manufacturers all contributed to the overall increase in sales. In addition, a long disputed invoice that was written off in the 4th quarter of the fiscal year ending June 30, 2006 for $39,915 contributed to net earnings.
For the fiscal year ending June 30, 2006, net sales were $433,918, an increase of 97% over $219,573 in sales booked for fiscal year 2005. The increase in sales is attributable to a number of factors including a significantly higher number of retail outlets carrying the ecoONE(R) spa treatment products, increased direct Internet retail sales, and the early stages of an OEM deal with a major U.S. spa manufacturer.
Gross profit for the fiscal year ending June 30, 2006 was $250,737 compared to $117,525 for the previous fiscal year, an increase of more than 113%.
For the fiscal year ending June 30, 2006, selling and general administrative expenses were $582,123, up 35% from $431,024 for the fiscal year ending June 30, 2005.
Approximately 10% of our total expenses for the year reflect a one-time write-off of what management now believes to be a non-collectible debt from an invoice generated by previous management. For the fiscal year ending June 30, 2006 the company wrote off the final $59,551 of this invoice.
The Company experienced a loss from operations of $331,386 up 5.7% compared to $313,499 for fiscal year 2005. The company net loss for fiscal year 2006 was $310,211 compared to $300,430 for fiscal 2005.
At the end of fiscal year ended June 30, 2006, the Company had $201,845 of current assets and $458,474 of current liabilities compared to $107,715 in current assets and $276,748 in current liabilities for fiscal year 2005.
Current liabilities include $120,124 in deferred salary owed to current management which has deferred significant portions of their salary since the management transition in June of 2004. CEO Wynhoff continues to defer the majority of his salary. Current liabilities also includes $113,160 owed to previous management, payment of which has been renegotiated to reduce the debt's impact on the company cash flow. Total current liabilities to non-related parties is $157,515.
Liquidity and Capital Resources
In the fourth quarter of fiscal 2006, the company gross profits exceeded its cost of operations; and, for that quarter, operations were funded entirely through the sale of its products.
Cash and cash equivalents totaled $4,977 on June 30, 2006 versus $541 on June 30, 2005.
Net cash used in operations was $96,403 for the fiscal year ending June 30, 2006, down approximately 57% from the $227,135 used the previous fiscal year. The decrease in net cash used in operations is primarily attributable to a continued increase in sales. Additionally, CEO Michael Wynhoff and CFO Michael Michie deferred a total of approximately $98,739 of their salaries for the year, significantly reducing the company need to raise capital to fund operations.
Net cash provided by financing activities was $102,268 for the fiscal year ending June 30, 2006, down approximately 54% from the $221,260 for the previous fiscal year. The company has required substantially less financing to fund operations primarily because of continuing increased revenues and management deferral of portions of their salaries.
In fiscal year 2006, Pacific Sands issued a total of 1,500,462 of its restricted common shares for cash and services and received a value of $164,278, (.11 per share) for those shares.
The information contained in this press release includes forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect" or similar expressions that involve risks and uncertainties. These risks and uncertainties include the company status as a startup company with uncertain profitability, need for capital, uncertainty concerning market acceptance of its products, competition, and protection of its intellectual property. The company's actual results could differ materially from those discussed herein. Factors that could cause or contribute to such differences are discussed more fully in the "Risk Factors," "Management Discussion" and other sections of the company's Form 10-KSB and other publicly available information regarding the company on file with the Securities and Exchange Commission. The company will provide you with copies of this information upon request.
Source: Pacific Sands, Inc.
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Unicorp Announces Drilling Has Begun on Its North Laurel Ridge Prospect with Potential Reserves of 1,000,000 Barrels of Oil and 3 Bcf of Gas 9/28/2006
HOUSTON, Sep 28, 2006 (BUSINESS WIRE) -- Unicorp, Inc. (OTCBB:UCPI) announced today that drilling has commenced on its North Laurel Ridge Prospect located in Iberville Parish, Louisiana. Unicorp has a 5% after casing point working interest and an approximate 4% net revenue interest in the well.
The North Laurel Ridge Prospect will be drilled to a depth of approximately 12,300 feet to test the Cibicides Hazzardi 1 thru 5 sands updip to the KCS Claiborne Plantation Well #1 which tested at 1,039 BOPD and 872 Mcfpd from the Cib.haz #4 sand. Total reserves are estimated to be 1,093,000 barrels of oil and 3.3 Bcf of gas.
"We are pleased that we are finally getting some of our prospects drilled during the second half of 2006," stated Arthur Ley, COO of Unicorp. "We believe that as we go into 2007 the rig market will loosen some which should allow us to be much more active in our drilling program."
About Unicorp
Unicorp, Inc. is primarily engaged in the acquisition, development, exploration and production of crude oil and natural gas. Its focus is on aggressively acquiring working interests in crude oil and natural gas properties with the intent of exploration and development or by enhancing production through the use of modern development techniques such as horizontal drilling, satellite technology and 3-D seismic. The company's goal is to achieve a high return on its investment by limiting its up-front acquisition costs, by quickly developing its acquisitions and by practicing a sound and smart approach to oil and gas exploration and development.
Safe Harbor Statement
This press release contains statements that may constitute forward-looking statements, including the company's ability to successfully acquire oil and gas properties and drill commercial wells. These statements are based on current expectations and assumptions and involve a number of uncertainties and risks that could cause actual results to differ materially from those currently expected. For additional information about Unicorp's future business and financial results, refer to Unicorp's Annual Report on Form 10-KSB for the year ended December 31, 2005 and Form 10-QSB for the quarter ended June 30, 2006. Unicorp undertakes no obligation to update any forward-looking statement that may be made from time to time by or on behalf of the company, whether as a result of new information, future events or otherwise.
SOURCE: Unicorp, Inc.
Unicorp, Inc., Houston Carl A. Chase, 713-402-6750 Investors*unicorpinc.net
Copyright Business Wire 2006
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Comtex Reports Fiscal 2006 and Fourth Quarter Financial Results 9/28/2006
ALEXANDRIA, Va., Sep 28, 2006 (BUSINESS WIRE) -- Comtex News Network, Inc. (OTC BB:CMTX), a leading provider of economically useful electronic real-time news, content and market alerts, today announced financial results for the fiscal year and fourth quarter ended June 30, 2006.
For the year ended June 30, 2006, Comtex reported revenues of $7.7 million compared to $8.0 million for the fiscal year ended June 30, 2005. The decline in revenues is primarily the result of business consolidations among clients. For Fiscal 2006, Comtex had an operating loss of $(364,000) and a net loss of $(458,000), or $(0.03) per share, versus operating income of $826,000 and net income of $729,000, or $0.05 per share, in the previous year. The losses were primarily the result of the Company adopting the new accounting rule, SFAS 123R, and recording non-cash stock-based compensation expenses of approximately $772,000.
For the quarter ended June 30, 2006, Comtex's revenues declined to $1.8 million from approximately $2 million. The Company posted a $(198,000) fourth quarter operating loss and a net loss of approximately $(212,000), or $(0.02) per share compared to operating income of $427,000 and net income of $431,000, or $0.03 per share, for the quarter ended June 30, 2005.
For fiscal 2006, EBITDA (as defined and explained in the accompanying note to the table below), excluding the effects of stock-based compensation, was approximately $690,000 compared to $1.45 million for the previous fiscal year. For the fourth quarter of fiscal 2006, EBITDA was a negative $(142,000) compared to an EBITDA of $545,000 for the fourth quarter of 2005. The decreases are primarily the result of increased operating expenses in the current fiscal year, largely related to professional fees, partially offset by the receipt of local tax refunds in the prior fiscal year.
"During fiscal 2006, Comtex has introduced innovative, exciting new financial market trend indicator products, while strengthening core product offerings for our long-term clients," stated Chip Brian, Comtex's President and COO. "We look forward to a national roll-out of Comtex SmarTrend(R) Alert and CSTA(R)Direct during the upcoming year - as well as continued expansion of relevant content to enhance all of our products," Mr. Brian concluded.
About Comtex
Comtex (www.comtex.com) provides real-time news, SmarTrend(R) Alerts and economically useful information to businesses whose customers need more than just facts. Comtex customers receive select content from key sources which is further enhanced with stock tickers and an extended lexicon of relevant terms. With a specialization in the financial news and content marketplace, Comtex receives, enhances, combines and filters news and content received from national and international news bureaus, agencies and publications, and distributes more than one million total stories per day. Comtex's state-of-the-art technology delivers this relevant content and reliable service in real-time. Comtex (OTC BB:CMTX) has offices in New York City and Alexandria, Virginia.
SmarTrend(R) and CSTA(R) are registered trademarks of Comtex News Network, Inc.
Please Note: Except for the historical information contained herein, this press release contains forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, that involve a number of risks and uncertainties. These forward-looking statements may be identified by reference to a future period by use of forward-looking terminology such as "anticipate," "expect," "could," "intend," "may" and other words of a similar nature. These statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated herein, including the occurrence of unanticipated events or circumstances relating to the fact that Comtex is in a highly competitive industry subject to rapid technological, product and price changes. Other factors include the possibility that demand for the Company's products may not occur or continue at sufficient levels, changing global economic and competitive conditions, technological risks and other risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Comtex undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
FINANCIAL TABLE FOLLOWS Comtex News Network, Inc. Selected Financial Data (amounts in thousands, except per share amounts) Years Ended Quarters June 30 Ended June 30 -------------------- ------------------- (audited) (unaudited) -------------------- ------------------- 2006 2005 2006 2005 ---------- --------- --------- ---------Revenues $7,677 $7,970 $1,811 $1,970Operating (Loss) Income (364) 826 (198) 427Net (Loss) Income $(458) $729 $(212) $431 ---------- --------- --------- ---------Net Income (Loss) Per Share Basic $(0.03) $0.05 $(0.02) $0.03 ---------- --------- --------- --------- Diluted $(0.03) $0.05 $(0.02) $0.03Weighted Avg. # Shares: Basic 13,675 13,600 13,700 13,600 ---------- --------- --------- --------- Diluted 13,675 14,678 13,700 14,646Reconciliation to EBITDA:Net Income (Loss) $(458) $729 $(212) $431Stock-based compensation 772 - 15 -Depreciation & Amortization 282 624 41 119Interest/Other Expense 78 97 14 (5)Income Taxes 16 - - - ---------- --------- --------- ---------EBITDA $690 $1,450 $(142) $545 ---------- --------- --------- --------- Please Note: EBITDA consists of earnings before interest and other expense, interest and other income, income taxes, stock-based compensation, depreciation and amortization and impairment charges. EBITDA is not a term defined by generally accepted accounting principles, and as a result, our measure of EBITDA might not be comparable to similarly titled measures used by other companies. However, we believe that EBITDA is relevant and useful information, which is often reported and widely used by analysts, investors and other interested parties in our industry. Accordingly, we are disclosing this information to permit a more comprehensive analysis of our operating performance.
SOURCE: Comtex News Network, Inc.
Comtex News Network, Inc. Amber Gordon, 703-797-8011 agordon*comtex.com
Copyright Business Wire 2006
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Hypertension Diagnostics Announces Fiscal Year 2006 Results 9/28/2006
ST. PAUL, Minn., Sept 28, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Hypertension Diagnostics, Inc. (OTC: HDII), today announced audited financial results for the fiscal year ended June 30, 2006. Revenue for fiscal 2006 totaled $1,789,546 compared to $1,182,005 in the prior year ended June 30, 2005, which represents a 51% increase. The Company incurred a net loss of $1,272,742 for fiscal 2006, or $(0.04) per share, compared with a net loss of $1,455,228 for fiscal 2005, or $(0.05) per share. Included in the net loss for fiscal 2006 are total non-cash charges (expenses associated with stock compensation, depreciation, stock options) of $669,506. Included in the net loss for fiscal 2005 are total non-cash charges of $337,976. The Company reported a cash balance on June 30, 2006 of $1,722,913.
Fourth quarter revenue of $295,536 for fiscal 2006 versus $421,335 for fiscal 2005 represented a 30% decline. Revenue for the fourth quarter of fiscal 2006 decreased 48% compared with $571,988 for the third quarter of fiscal 2006.
"As previously reported, the disappointing financial results are due to a decline in the number of customers converting their CVProfilor rental agreements to purchases and the longer than anticipated time it has been taking for customers to make a purchase decision -- a factor likely to continue for the next few quarters," said Mark N. Schwartz, Chairman and CEO.
Forward-looking statements in this press release are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company wishes to caution readers not to place undue reliance on any forward-looking statements and to recognize that the statements are not a prediction of actual future results. Actual results could differ materially from those presented and anticipated in the forward-looking statements due to the risks and uncertainties set forth in the Company's 2006 Annual Report on Form 10-KSB, and subsequent Quarterly Reports on Form 10-QSB, all of which were filed with the U.S. Securities and Exchange Commission, as well as others not now anticipated.
Hypertension Diagnostics, Inc. Summary Financial Data
Statements of Operations Three Months Ended Twelve Months Ended June 30 June 30 2006 2005 2006 2005 Revenue: Equipment sales $209,500 $288,024 $1,352,486 $445,889 Equipment rental 84,769 129,638 418,979 560,377 Service/contract income 1,267 3,673 18,081 175,739 295,536 421,335 1,789,546 1,182,005 Cost of Sales 1,483 57,924 90,447 184,984 Gross Profit 294,053 363,411 1,699,099 997,021
Expenses: Selling, general and administrative 685,958 598,175 3,018,624 2,484,606 Total Expenses 685,958 598,175 3,018,624 2,484,606 Operating Loss (391,905) (234,764) (1,319,525) (1,487,585)
Other Income: Interest income 16,338 10,237 46,783 32,357
Net Loss $(375,567) $(224,527) $(1,272,742) $(1,455,228)
Basic and Diluted Net Loss per Share $(.01) $(.01) $(.04) $(.05) Weighted Average Shares Outstanding 39,714,469 32,175,217 35,219,474 28,505,982
Balance Sheet Data June 30, 2006 June 30, 2005 Cash and cash equivalents $1,722,913 $1,525,865 Total current assets 2,257,390 1,962,747 Total assets 2,345,949 2,193,866 Total current liabilities 489,081 574,671 Accumulated deficit (25,978,319) (24,705,577) Total shareholders' equity 1,840,414 1,603,537
CVProfilor is a registered trademark of Hypertension Diagnostics, Inc. Hypertension Diagnostics, HDI/PulseWave, PulseWave and CVProfile are trademarks of Hypertension Diagnostics, Inc. All rights reserved. Website: http://www.hdii.com
Copyright (C) 2006 PR Newswire. All rights reserved.
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Pine Valley Extends Rockside Repayment Terms and Enters into Discussions with an Unaffiliated Lender for a Credit Facility Up to $37.5 Million 9/28/2006
VANCOUVER, BRITISH COLUMBIA, Sep 28, 2006 (CCNMatthews via COMTEX News Network) -- Pine Valley Mining Corporation (TSX:PVM)(OTCBB:PVMCF) (the "Company" or "Pine Valley") is pleased to announce that it has negotiated an extension of the due date for repayment of the debt financing provided to the Company by The Rockside Foundation ("Rockside") from September 30, 2006 to October 31, 2006 (the "extension period"). The Company currently has principal of US$8.85 million due under this facility. During the extension period interest will continue to accrue at a rate of 12% per annum.
In addition, the Company has entered into discussions with and signed a term sheet with an unaffiliated lender ("Lender") under which, Lender will, if the transaction completes, lend to the Company and its affiliates up to $37.5 million. The proposed facility would include a term loan of $20 million and a revolving credit facility of up to $17.5 million (the "Credit Facilities") with a maturity date of September 30, 2007. The Credit Facilities also contemplate an option to extend the maturity date to March 31, 2008.
The completion of the above described Credit Facilities transaction is subject to certain conditions including the completion of due diligence processes and negotiation of documentation. Any debt offered as part of the Credit Facilities financing will not be registered under the U.S. Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Proceeds from the Credit Facilities will be used to repay existing debts, including the entire balance owing to Royal Bank Asset Based Finance, a Division of Royal Bank of Canada and a portion of the balance due to Rockside, as well as providing additional working capital. Furthermore, upon completion of the Credit Facilities, the remaining portion of the Rockside loan repayment will be extended to October 1, 2007 or April 1, 2008 should the new Credit Facilities be extended.
This news release contains certain "forward-looking statements", as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties including but not limited to economic, competitive, governmental and geological factors effecting the Company's operations, markets, products and prices and other risk factors. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the Company's dependence on the steel industry, volatility in coal prices, accidents and other risks associated with mining operations, the Company's need for and availability of additional financing, the restrictions imposed under the Company's existing debt arrangements and its debt service requirements and the other risk factors discussed in greater detail in the Company's various filings with the Securities and Exchange Commission and Canadian securities regulators, including the Company's Form 20-F dated June 21, 2006.
PINE VALLEY MINING CORPORATION
Robert Bell, President and Chief Executive Officer
SOURCE: Pine Valley Mining Corporation
Pine Valley Mining Corporation Robert (Bob) Bell President & Chief Executive Officer (604) 682-4678 Pine Valley Mining Corporation Martin Rip Vice President Finance and CFO (604) 682-4678 pinevalley*pinevalleycoal.com www.pinevalleycoal.com
Copyright (C) 2006 CCNMatthews. All rights reserved.
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QTEK (.0325) Reports Record Revenues Second Year in a Row for Fiscal Year Ending June 30, 2006
Market Wire "US Press Releases "
HUNTINGTON BEACH, CA -- (MARKET WIRE) -- 09/28/06 -- Quintek Technologies, Inc. (OTCBB: QTEK), a global provider of Business Process Outsourcing (BPO) and best-of-breed technology consulting services, today announced record revenues for the year ending June 30, 2006. This is the company second year in a row of record increasing revenue.
Last year, the company revenues increased 418% in 2005 and totaled $1,547,923 and $298,653 for the twelve months ended June 30, 2005 and 2004, respectively. This year the company closed the year with $2,307,402 in revenues for the twelve months ended June 30, 2006. This is the second year in a row of record revenues for Quintek. The difference of $759,479 represents a 49% increase over the $1,547,923 for the twelve months ended 2005. The increase was due primarily to our investment in sales and marketing efforts and resultant increase in new sales contracts.
Additionally, the company closed the year ending June 30, 2006 with record cash on hand of $410,007 as compared to $12,669 cash on hand for the year ending June 30, 2005. This dramatic improvement of $397,338 was primarily due to a funding that closed in May. The company is set to receive another $1.1 million as part of this financing and can receive in excess of $3.5 million from the successful exercise of warrants issued to this investor at prices ranging from $0.05 per share to $0.08.
Basic and diluted net loss per share was reduced 80% from a loss of $0.10 per share in 2005 to a loss of $0.02 per share in 2006. Net loss for 2006 was $2,945,710 as compared to $7,417,687 a difference of $4,471,977, representing a 60% reduction in net loss, a dramatic improvement over the prior year. Net cash used in operating activities was $1,208,903 compared to $1,418,456 for 2005. This represents an improvement of 15% from 2005 to 2006.
For the twelve months ended June 30, 2006 and 2005, cost of revenue was $1,522,814 and $1,070,001, respectively, an increase of $452,813 (42%). Cost of revenue for both periods consisted mostly of labor and production costs. Cost of revenue increased in 2006 due to an increase in revenues from new sales contracts we received.
As of June 30, 2006, our total assets were $1,417,374 compared to $1,402,264 as of June 30, 2005. The assets increased by $15,110 (1.1%) primarily due to receipt of cash funding.
Robert Steele, Quintek CEO, commented, "We are pleased that Quintek has achieved yet another year of record revenues, continuing to grow revenues another 49% on top of the 418% increase over last year's record." He added, "We have received financing from an active microcap institution and are dedicated to continued growth. We are committing capital to sales and marketing efforts and are experiencing a strong surge in the level of interest from new customers."
Andrew Haag, CFO, stated, "We have improved our financial condition on many fronts; increased revenues, reduced losses and more cash on hand to drive growth." Haag continued, "As reported in this filing, Quintek is experiencing significant growth rates. The company is experiencing heightened levels of interest from new customers due to increased sales and marketing and is working towards several material business developments for 2007."
About Quintek Technologies, Inc.
Quintek Technologies, Inc. (OTCBB: QTEK), through its wholly owned subsidiaries Quintek Services, Inc. (QSI), and Sapphire Consulting Services, Inc., provides services to enable Fortune 500 and Global 2000 corporations to reduce costs and maximize revenues.
QSI delivers Business Process Outsourcing (BPO) services and solutions that enable companies to secure and manage their key data processing demands with optimal efficiency and minimal costs. As a next-generation technology company, Quintek is unhindered by outdated information technology systems, and thus is able to deploy best-of-breed solutions in all aspects of BPO. The Aberdeen Group, a provider of IT market intelligence, forecasts 13% annual growth for the BPO industry through 2005, when the market is projected to reach $248 billion.
Sapphire Consulting Services, Inc. offers a broad range of supply chain management consulting services. Sapphire assists organizations to create a higher level of customer satisfaction, enhance supply chain capability and achieve consistent competitive advantage through reduced product cost, reduced inventory investment and improved supply chain security. A study by IDC found the SCM services market will expand from $26.1 billion in 2002 to $40.5 billion in 2007, representing a five-year compound annual growth rate (CAGR) of 9.2%
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Quintek to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in Quintek's Annual Report on Form 10-KSB for the fiscal year ended June 30, 2004 and any subsequent reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and Quintek assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, inability to timely develop products or services, inability to deliver products or services when ordered, inability of potential customers to pay for ordered products or services, and political and economic risks inherent in domestic and international trade.
Cinapsys, Inc. Mark Moline (949) 497-6684 Email Contact
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Ignis Petroleum Group, Inc., To Purchase Interests in Barnett Shale Acreage, Producing Wells, Development Program and Gas Gathering & Treating System 9/28/2006
DALLAS, Sep 28, 2006 (Canada NewsWire via COMTEX News Network) -- Ignis Petroleum Group, Inc. (OTCBB:IGPG), an oil and gas company with operations focused on the acquisition, exploration and development of crude oil and natural gas positions in the onshore U. S. Gulf Coast and Mid-Continent areas, today announced that it has agreed to acquire 45% of the acreage, producing properties and natural gas gathering and treating system currently held by W. B. Osborn Oil & Gas Operations, Ltd. ("WBO") and St. Jo Pipeline Limited within the St. Jo Ridge (Barnett Shale) Field, located in Montague and Cooke Counties, Texas. Upon closing, the effective date of the transaction will be June 1, 2006. WBO will remain the operator.
Terms of the purchase were:
-- Purchase price of $18,450,000, before closing adjustments, to be paid in cash. The adjustments will be determined from time to time as production flows and drilling investments are accounted for by the parties.
-- As part of the transaction, Ignis will commit to invest capital into an ongoing continuous drilling program as well as invest up to $5,000,000 in future property acquisitions within an Area of Mutual Interest.
The consummation of the agreement is subject to standard closing conditions. The transaction is scheduled to close on or before October 31, 2006. Ignis is currently negotiating financing for the transaction.
Ignis will be acquiring forty-five percent (45%) of WBO's interests in 7,890 gross acres (6,864 net acres), 13 producing wells, and an estimated total net proved reserves of 1.4 million barrels of oil equivalent (Mboe) of which 0.5 Mboe are proved developed producing as of June 1, 2006. Approximately fifty percent (50%) of the proved reserves are oil and fifty percent (50%) are a combination of gas and gas liquids. The gathering and treating system consists of a 100% interest in approximately 24 miles of gathering lines, which accumulates and treats natural gas at a central plant. WBO has identified 36 initial drilling locations on the acreage before beginning the infill drilling program, which could yield more than 100 additional drilling sites. A Pioneer Drilling Company rig, secured under a 12-month renewable contract, is currently being used to carry out the continuous drilling program.
Michael P. Piazza, Ignis President and Chief Executive Officer said, "We are pleased to announce this strategic acquisition and development project as we continue to focus on achieving our long-term growth targets for shareholders. Our partner in this project, W. B. Osborn Oil & Gas Operations, a private San Antonio, Texas-based company, has a long history of developing and producing oil and gas. We believe the Ignis team will bring additional seasoned expertise and advancements in new technology to enhance recovery from the project, working alongside our partner."
About Ignis Petroleum
Ignis Petroleum Group, Inc. is a Dallas-based oil and gas production company focused on exploration, acquisition and development of crude oil and natural gas reserves in the United States. The Company's management has closely aligned itself with strategic industry partnerships and is building a diversified energy portfolio. It focuses on prospects that result from new lease opportunities, new technology and new information. For further information, visit www.ignispetro.com.
Safe Harbor for Forward-Looking Statements
This release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation, expectations, beliefs, plans and objectives regarding the potential transactions and ventures discussed in this release. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in oil and gas exploration, the need to obtain additional financing, the availability of needed personnel and equipment for the future exploration and development, fluctuations in gas prices, and general economic conditions.
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Sep 29, 2006 (financialwire.net via COMTEX News Network) --
September 29, 2006 (FinancialWire) With the anticipated receipt from the seller of the executed letter of intent, Universal Property Development and Acquisition Corporation (OTCBB: UPDA) now has 60 days to complete the due diligence for its largest acquisition to date, an oil and gas field of approximately 20,000 acres with 220 producing wells and over $6 million of service equipment located mainly within the state of Wyoming.
"These leases combine a mixture of traditional oil and gas wells and shallow coal bed wells and are making substantial oil as well as 3000 - 4000 mcfg/day already," reports UPDA Vice President Chris McCauley. "The coal bed properties, where a typical well is about 1000 feet or less, provide an opportunity to begin drilling multiple wells per week as soon as the transaction is closed. With the service equipment and water transport and disposal assets being acquired in the deal, the coal bed methane production could be greatly increased very quickly. In addition, the service equipment will allow UPDA's well service subsidiary, Ambient, to significantly expand its operations."
The transaction, valued at between $40 and $50 million, also involves substantial real estate assets including two office buildings, several warehouses, an equipment yard and vacant land.
UPDA's investment bankers are in the process of arranging debt financing to complete the acquisition before the end of the year.
Universal Property Development and Acquisition Corporation is enrolled in Investrend Research's unique and pioneering professional analyst program, which facilitates independent analysts to provide financial coverage for shareholders and investors in companies that otherwise would have little or no analyst following. Enrollment in standards-based research is an important measure of a company's commitment to transparency and good governance.
Coverage on the company was irrevocably terminated on January 9, 2006, after the company issued a press release that misled investors about its role in a report issued by Investrend Research analyst Daniel Capo, CFA, in which he downgraded the company from a "No Rating/3" to a "Suspended/1." Investrend Research will not provide further research to the company as long as present management and key institutions are associated with it. Coverage was initiated with the company on November 16, 2005.
Enrollment fees for basic Benchmark coverage were $24,800 and were being paid by Morgan Merchants, a third party.
Investrend Research has been the leading independent equity research publishing and distribution program since 1996, with over 75 qualified professional analysts posting more than 1,200 reports to date. Anyone may enroll a company in the Investrend platforms. Enrollment fees for the Benchmark research platform are $31,800. Analysts are paid in advance for their initial reports by Investrend Research to limit or eliminate pecuniary interests and conflict; and no one associated with the program may own or trade in the equities of companies under coverage.
Buyside Magazine has stated that Investrend Research "remains in the vanguard of both standards and independence." ODwyerPR has cited Investrend Research as "exceeding the standards of CFAI-NIRI." The CFA Magazine has cited Investrend and its affiliates as having "strict rules about compensation and full disclosure," which "should go a long way towards ensuring objectivity." Some 70.9% said in a survey at InvestoPedia that a company that enrolls for "legitimate fee-based research is making a positive statement about its investment potential." A survey at Charles Schwab & Co. revealed that 78% of active shareholders now "value research from independent firms over analysts by Wall Street firms with financial ties to the companies they are rating."
Complete information about any company enrolled in an Investrend shareholder empowerment platform, including those of its affiliates and independent analysts and webcasters, including disclosures and disclaimers, is available at the company's InvestorPower page at http://www.investrend.com/company/list.asp?sPathParam=yes and on each report and press release, and investors are advised to read those disclosures carefully before trading in the equities of any enrolled company.
The SEC Advisory Committee on Smaller Public Companies, in its recent final report endorsing company-sponsored research at http://www.sec.gov/info/smallbus/acspc/acspc-finalreport_d.pdf, stated: "the trading markets for public companies are assisted in great measure by the dissemination of quality investment research," noting "a lack of coverage by independent analysts limits shareholders' and prospective shareholders' ability to obtain an informed outsider's perspective on identifying strengths and weaknesses and areas for improvement."
The following is the complete text:
"In order to address the need for more independent research for smaller public companies, [the U.S. Securities and Exchange Advisory Committee on Smaller Public Companies recommends] that the Commission:
"Maintain policies that allow company-sponsored research to occur with full disclosure by the research provider as to the nature of the relationship with the company being covered.
"Entities providing such research should disclose and adhere to a set of ethical standards* that ensure quality and transparency and minimize conflicts of interest."
Further, "the trading markets for public companies are assisted in great measure by the dissemination of quality investment research. Investment research coverage for public companies in general, and for smaller public companies in particular, has declined dramatically in recent years, however, as economic and regulatory pressures have led the financial industry to dramatically reduce research budgets.
"The problem is particularly pronounced in the case of smallcap companies, of which less than half receive coverage by even a single analyst, and in the microcap universe, where analyst coverage is virtually non-existent .
"A lack of independent coverage has several adverse effects, both for individual companies and for the capital markets as a whole:
"Companies with no independent analyst coverage have a reduced market capitalization in comparison with companies that do have such coverage, and are subject to higher financing costs when compared with their analyst-covered peers;
"A lack of coverage by independent analysts limits shareholders' and prospective shareholders' ability to obtain an informed outsider's perspective on identifying strengths and weaknesses and areas for improvement;
"The lack of coverage lessens the entire "mix of information" made available to investment bankers, fund managers and individual investors, which makes markets less efficient; and
"Because analyst reports trigger the buying and selling of shares, the lack of such reports frustrates the formation of a robust trading market."
FinancialWire is an independent, proprietary news service of Investrend Information, a division of Investrend Communications, Inc. It is not a press release service and receives no compensation from any company for its news or opinions. Other divisions of Investrend, however, provide shareholder empowerment platforms such as forums, independent research and webcasting. For more information or to receive the FirstAlert daily summary of news, commentary, research reports, webcasts, events and conference calls, click on http://www.investrend.com/contact.asp
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Xenomics Announces Development of Test for the Genetic Marker for Acute Myeloid Leukemia (AML) Friday September 29, 7:00 am ET Company Holds Exclusive License for the AML Marker
NEW YORK, Sept. 29 /PRNewswire-FirstCall/ -- Xenomics, Inc. (OTC Bulletin Board: XNOM; FWB:XE7), the source of next-generation medical DNA diagnostic tests, today announced that it has developed a proprietary test for the detection of NPM gene mutations, a recently discovered genetic marker for Acute Myeloid Leukemia (AML). Xenomics already holds the exclusive license for the use of that marker.
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"The NPM genetic marker is critically important to physicians because it can provide a diagnostic tool to identify an especially aggressive form of AML much more rapidly and effectively than conventional techniques," commented Dr. David Tomei, CEO and Co-Founder of Xenomics. "This test developed by Xenomics is capable of detecting all known NPM mutations in DNA from bone marrow or blood cells of AML patients in one reaction with high sensitivity and specificity. We are now preparing to move this test into the clinical setting."
This genetic marker for AML, which was discovered by Drs. Cristina Mecucci and Brunangelo Falini, collaborators at the Institute of Hematology at the University of Perugia in Italy and licensed by Xenomics, is important for diagnostic accuracy, prognosis, and monitoring of the disease.
"This newly discovered marker is a major advance in the diagnosis of AML and the development of this test by Xenomics is very exciting news," said Dr. Riccardo Della-Favera, Director of the Institute for Cancer Genetics at the Columbia University Health Sciences Division.
About Xenomics, Inc.
Xenomics is a molecular diagnostic company that focuses on the development of DNA-based tests using transrenal DNA. Xenomics' patented technology uses safe and simple urine specimens and is being applied to a broad range of applications including detection and monitoring of infectious diseases, tumor detection and therapeutic monitoring, stem cell transplantation monitoring, and prenatal genetic testing. Scientists from Xenomics were the first to discover that fragments of DNA from cells throughout the body can cross the kidney barrier and be readily detected in small urine specimens. The Company believes that its transrenal DNA technology will open significant new markets in the molecular diagnostics field and provide a new generation of molecular diagnostic tests. Xenomics' issued U.S. patents protect an array of applications for molecular diagnostics and genetic testing. The Company has been joined by the National Institute for Infectious Diseases (Istituto Nazionale per la Malattie Infettive "Lazarus Spallanzani") in Rome, in formation of a research and development company called SpaXen Italia, S.R.L, where clinical researchers are focused on transrenal DNA diagnostics for a variety of infectious diseases. For additional information, please visit http://www.xenomics.com. Xenomics' stock trades under the symbol XNOM.OB and is also listed on the Frankfurt Stock Exchange under the symbol XE7.
Forward-Looking Statements
Certain statements made in this press release are forward looking. Such statements are indicated by words such as "expect," "might," "should," "anticipate" and similar words indicating uncertainty in facts and figures. Although Xenomics believes that the expectations reflected in such forward- looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to be correct. As discussed in Xenomics' Form 10-KSB as filed with the Securities and Exchange Commission on May 16, 2006, actual results could differ materially from those projected in the forward-looking statements as a result of the following factors, among others: uncertainties associated with product development, the risk that Xenomics will not obtain approval to market its products, the risk that Xenomics' technology will not gain market acceptance, the risks associated with dependence upon key personnel, and the need for additional financing.
(OTCBB: USXP), announced today that its financial reports for its fiscal year ending June 30, 2006, have substantially improved over its June 30, 2005 fiscal year.
The overall market capitalization of the Company increased to $89,794,717 for the 2006 fiscal year from $4,693,239 for the 2005 fiscal year.
Total stockholders' equity increased to $4,423,112 for the 2006 fiscal year from $856,865 for the 2005 fiscal year, an increase of $3,566,247, or over 500%.
The Company's working capital equity for fiscal 2006 was $1,312,543 compared with a deficiency of $2,200,428 in fiscal 2005.
Total assets increased to $6,022,150 for the 2006 year from $3,359,292 for the 2005 year, an increase of 180%. Total liabilities decreased by $903,389.
Revenues from the Company's logistics and international shipping businesses increased approximately 100% for the 2006 year compared with the 2005 year.
"We are pleased with the development and growth of all of our businesses. Revenues from our logistics and international shipping business have almost doubled this year compared with last year, as they have in the previous four years, and we anticipate an exponential increase this year and in future years," said Richard Altomare, Chairman and CEO of Universal Express.
About Universal Express
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Remington Ventures, Inc. Comments on Quantum Bit Induction Technology, Inc.'s Experiments Focusing on Negative Group Delay Friday September 29, 8:00 am ET
NEW YORK, Sept. 29 /PRNewswire-FirstCall/ -- Remington Ventures, Inc. (OTC Pink Sheets: RMVN - News) is pleased to have recently learned of the completion of the second phase of Quantum Bit Induction Technology, Inc.'s (OTC Pink Sheets: QBIT - News) experiments focusing on Negative Group Delay, and of the practical applications of this technology to the Programmed Trading Project, the rights to which were purchased by Remington Ventures, Inc. in February 2005. "I am very pleased with the advancements in this project that have been made by Michael Skillern and his team at QBIT, and I look forward to further advancements as they are made," said Michael Brown, President of Remington Ventures, Inc. ADVERTISEMENT
RMVN accepted delivery of QB-NeuroBot software, a neural network-based currency trading system being developed by QBIT. The software automatically updates neural network input data, trains a neural network, and automatically executes currency trades in the foreign exchange market (FOREX). The current version is tailored to accommodate hundreds of simultaneous data inputs in order to execute currency trades allowing the system to operate numerous data selection efforts in parallel. RMVN and QBIT are presently steering development attention to data selection.
For more information on Remington Ventures, Inc. and its Programmed Trading Project, please visit the company's website at http://www.rmvn.net .
The statements in this press release are not forward-looking. Anyone interested in Remington Ventures, Inc.'s work with Quantum Bit Induction Technology, Inc. is encouraged to contact the office for adequate information with which to make an educated stock ownership decision. Remington Ventures, Inc. prefers that the uninformed NOT become shareholders, and discourages stock ownership by the under-educated or the under-informed.
Contact: Michael Brown, President Remington Ventures, Inc. 410 Park Avenue, 15th Floor New York, New York 10022 phone: +1-917-210-7444 e-mail: info*rmvninc.net
Friday, September 29 2006 8:51 AM, EST Pilgrim Petroleum Report on Economic and Potential Recoverable Assessment in Archer and Wichita County Interests Business Wire "US Press Releases " IRVING, Texas --(BUSINESS WIRE)-- Pilgrim Petroleum Corporation (Pink Sheets:PGPM) is pleased to announce that the final Assessment on its interests in Archer and Wichita Counties Texas, prepared by Gustavson Associates has been completed. The report has an effective date of September 15, 2006 , and evaluates Pilgrim Petroleum acreage located on the Bend Arch-Fort Worth Basin Province, Texas . Gustavson Associates was engaged by Pilgrim Petroleum Corporation to prepare the report as the due diligence basis to comply with Canadian TSX ( Toronto Stock Exchange ) requirements in addition to SEC guidelines. The report was prepared for the company using assumptions and methodology guidelines outlined in the Canadian Oil and Gas Evaluation Handbook ("COGE Handbook") and in accordance with National Instrument 51-101 ("NI 51-101"). Additionally, Gustavson Associates conducted a scoping economic analysis of the Prospect using the "Best Estimate" for both an oil and gas future net revenues (before deductions of income taxes). Specifically, the report provides the following highlights: Low Estimate 996 MBbl 3.98 BCF ---------------------------------------------------------------------- Best Estimate 1,832 MBbl 7.32 BCF ---------------------------------------------------------------------- High Estimate 2,676 MBbl 10.70 BCF ---------------------------------------------------------------------- ECONOMIC EVALUATION Pilgrim also requested Gustavson Associates to complete economic runs with the estimated prospective resources and similar production profiles. This study will show estimate development schedules for Pilgrim's acreage and generate a forecast of future net revenues and discounted cash flow. The following estimates are based on the best estimate of the prospective hydrocarbon resources. The initial net prices, for the purpose of the analysis are $59.95 per barrel for the oil case and $4.97 per MCF for the gas case and include deductions for estimated future well abandonment costs. Best Estimate Net Present Value of Best Estimate Net Revenue Before Future Net Revenues (at 10% Income Tax discount rate) ----------------------------------- ---------------------------------- $102,370,000 $52,050,000 ----------------------------------- ---------------------------------- Pilgrim Petroleum President and CEO Rafael Pinedo said, "We are very pleased to have interest in such an outstanding exploration prospect with the potentially dramatic high impact upside potential of this acreage. The Gustavson report is consistent with historical estimates of the resource potential and risks for the blocks and the report clearly confirms our belief that we have in our hands a world-class exploration prospect. As we move into this next phase of commencing the exploration program, we will continue to work to advance on our re-activation program and aggressively finish our audit and become a fully reporting company." The report is available for review on the Company's website.
About Pilgrim Petroleum Corporation
Headquartered in Irving, Texas , Pilgrim Petroleum Corporation is a publicly traded company (PGPM). The company is acquiring oil and gas leases, producing properties, mineral rights and surface interests primary on marginal fields. Once acquired, the company intends to develop each property to maximize the income from each by refurbishing and improving the existing production. Forward-Looking Statements: The statements which are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements. 2006 Pilgrim Petroleum Corporation . The information herein is subject to change without notice. Pilgrim Petroleum Corporation shall not be liable for technical or editorial errors or omissions contained herein. Source: Pilgrim Petroleum Corporation
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Rockelle Continues to Fulfill Its Business Plan via COMTEX
September 29, 2006
MILLER PLACE, N.Y., Sept. 29, 2006, Sep 29, 2006 (PRIMEZONE via COMTEX News Network) --
Rockelle Corporation (OTCBB:RKLC), a franchiser, developer, owner and operator of quick service restaurants and other food related concepts, is pleased to announce the grand opening of yet another Stewart's Original Root Beer Restaurant. The newest franchise, located in the Bartow, Florida Wal-Mart, will open on September 30, 2006.
Rockelle previously announced plans to open multiple Stewart's Original Root Beer Restaurant franchises within select Wal-Mart locations. The company celebrated its first Stewart's grand opening in Pennsylvania during the late summer of 2006. Rockelle opened its next location, in Florida, in early September 2006. With this newest franchise opening, Rockelle continues to follow its business plan by fulfilling its commitment to open a number of Stewart's Original Root Beer Restaurants.
Gerard A. Stephan, CEO and president of Rockelle Corporation, said, "With the opening of our second Florida location inside of Wal-Mart, we now have three revenue generating Stewart's franchises, with more on the way. We have three additional locations that we expect to make grand opening announcements for imminently." Mr. Stephan went on to say, "As result of the Stewart's franchise agreement and our other licensing arrangements with Chock full o'Nuts and Kahala Corp, we are more confident than ever for solid revenue growth in 2007. I look forward to sharing specific details with you in the very near future."
Forward-Looking Statements
Statements released by Rockelle Corporation that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
Rockelle Corporation Investors: Jerry Stephan (631) 244-9841 Surety Financial Group, LLC Brokers: (410) 448-1130
(C) 2006 PRIMEZONE, All rights reserved.
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MONTREAL -- (MARKET WIRE) -- 09/29/06 -- The following is an update presented by Alexander P. Cavasin, CEO of Alcar Chemicals Group Inc. (PINKSHEETS: ACMG) on the corporation's activities and progress.
Progress has been steady on all fronts and as planned. A more detailed update is available on our website where Dr. Cavasin posted a letter to our shareholders, please feel free to download it at your convenience.
Funding -- the second trench has been completed and the funds were entirely allocated towards engineering.
Facilities & Operations -- negotiations for our manufacturing facilities are now concluded and acquisition procedures are being undertaken. A new occupation period is now foreseen for the third week of October while the plant plans are being finalized.
Other activities -- Audited financial statements are foreseen to be ready before the end of November.
"As far as IR/PR is concerned, I have opted against this approach as I personally do not believe that it would increase our visibility in a positive manner. I believe I am serving our investors a lot better by allocating the funds that would be required for such publicity stunts towards operations instead. I will, however, make true on my promise to better respond to our investors by implementing our own IR and a specialist will be hired and brought up to date during the month of October," said Dr. Cavasin when asked about this subject.
Since our existing contracts already require the full capacity of three reactors, our marketing efforts have now been oriented towards licensing of our biomass conversion technology. Negotiations with A-M Polymers towards grouping the two contracts into one single agreement including a delivery schedule have been successful. Dr. Cavasin will be meeting M. Terki next week to finalize the new contract during his rigorous schedule throughout Europe and South-East Asia where he follows up on three developing prospects for licensing now engaged in serious talks.
Dr. Cavasin promised an in depth update of the developments upon his return.
About Alcar Chemicals Group
The Alcar Chemicals Group (PINKSHEETS: ACMG) represents a significant market opportunity due to a serious worldwide supply shortage of raw materials for polymers as well as an increased requirement for ethanol and biodiesel. ACMG has been concentrating on innovative methods for biomass valorisation for the past decade, specifically petroleum-independent fuel and plastics resin production. It's proprietary technology represents today's most economical and advanced manufacturing process for plastic raw materials, ethanol and bio-diesel, allowing production at cost savings of up to 40% when compared to current production methods.
Important Information About Forward-Looking Statements
All statements and information in this news release, other than historical facts, are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties which are subject to section 27A of the Securities Act of 1933 and section 21E of the Exchange Act of 1934, and are subject to safe harbor created by these sections. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct and actual results may vary.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
Contact Info: Homer Pateridis Investor relations consultant Tel 514-952-5251 homer*alcarchemicalsgroup.com http://www.AlcarChemicalsGroup.comPosts: 1580 | From: World | Registered: Jul 2006
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RMD Entertainment Group in Final Contract Stages With Sul Sol Entertainment to Release Three Music Titles in 2007
Market Wire "US Press Releases "
PHILADELPHIA, PA -- (MARKET WIRE) -- 09/29/06 -- RMD Entertainment Group (PINKSHEETS: RMDG) -- In a move to continue adding high quality Hip-Hop music products into their vast distribution network and calendar, RMD executives announced they were in the final stage of going to contract with Philadelphia-based production company Sul Sol Entertainment to release at least three music releases jointly with the company in 2007. The releases would be put through the North American distributor Bungalo Records (exclusively distributed by Universal Music group), and all of their 62 digital distributors around the world including, iTunes, Sony Connect, Napster, Zingy and Rhapsody. Revenue share on each project will be on a 50/50 split as well.
CEO Giorgio Costonis commented: "Our goal is to continue to add high quality music content into our catalogue so that we can maximize our value received from having such a vast distribution capability. Sul Sol Entertainment is run by two very capable industry veterans in John Lee and Rasul Abdul Hagg." He continued, "We will begin releases in 2007 with their premier artist Raeshon who has a strong following in the Atlanta area and a recent track record with BDS spins on a radio only release of one of the songs from his upcoming album with us."
Co-CEO of Sul Sol Entertainment John Lee said, "We are very pleased to be coming to terms with RMD on this deal. They are a very forward-thinking company and their distribution channels give each release a competitive advantage in the global market to succeed. We have been trying to get this deal done for months and are thrilled we are in the final stages of completion. We look forward to a long prosperous relationship together."
About RMD Entertainment Group
RMD Entertainment (RMD) is a cutting-edge entertainment company that is primarily focused on the development and international marketing of 'hip-hop' music, including compact discs, digital downloads, and personal 'ring tones' for mobile phone customers, as well as other 'hip-hop' lifestyle products. The Company has also created MOTV, the ability to stream video content to mobile devices, including cell phones and PDAs. RMD has significant successes internationally and its staff producers have collaborated with some of the most influential names in the music today including Sting, David Byrne of the Talking Heads, George Kranz, Freedom Williams of C & C Music Factory, Stevie Winwood, Robin Scott, and jazz saxophone legend Bill Evans, among others. The Company current possesses an impressive hip-hop catalogue, which it distributes exclusively through Bungalo Records and Universal Music Group (a subsidiary of Vivendi Universal) in North America and in Europe through the Pickwick Group Ltd. of London.
Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of RMD Entertainment Group, Inc, and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
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FBVG (.091) Reminds Investors October 2, 2006 is the Record Date for the Stock Dividend
PrimeZone "PrimeZone "
VALENCIA, Calif., Sept. 29, 2006 (PRIMEZONE) -- Fire Mountain Beverage Company (Pink Sheets:FBVG) announces today, a final reminder, that October 2, 2006 is the record date for investors of record to qualify for the Company's stock dividend. The Pay Date for this dividend will be 10 days following the record date or October 12, 2006.
According to Anthony K. Miller, CEO, "This is one of the first steps we are taking to provide shareholders with additional value to their holdings. In the following weeks there should be significant news regarding our Company, as we continue to execute our business plan. This is an exciting time for our Company as we are seeing rapid growth, from all fronts, solidifying our future."
Fire Mountain Beverage Company bottles, develops, markets, sells, and distributes branded purified and oxygenated-vitamin-flavored water beverages and co-packs and markets a wide range of beverages. The Company's products are orientated to the health conscious consumer looking for alternatives to tap water and carbonated beverages containing sugar, caffeine, sodium and carbohydrates. Fire Mountain's customer base includes single and multi-store retail operations, governmental agencies, distributors, convenience stores, schools and other outlets. These products take advantage of current market trends in the beverage industry that enhance the quality of life.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act: Statements in this news release may contain forward-looking information within the meaning of Section 27a of the U.S. Securities Act of 1993 and Section 21E of the Securities and Exchange Act of 1934, and is subject to the safe harbor created by those sections. All statements, other than statements of historical fact, are forward-looking statements that involve various risks and uncertainties, which may individually or mutually, impact the matters described herein. There can be no assurance that such statements will prove to be accurate, and the actual results and future events could differ materially from those anticipated in such statements. The company assumes no obligation to update the information contained in this release. Readers should not place undue reliance on any forward-looking statements contained herein.
CONTACT: Fire Mountain Beverage Company Anthony K. Miller, CEO (661) 362-0716 info*firemountainbeverage.com
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XRMB (.525) Signs Letter of Intent to Combine with Wireless Marketing Company
Business Wire "US Press Releases "
LOS ANGELES--(BUSINESS WIRE)--
Xero Mobile, Inc. (Pink Sheets:XRMB) has signed a letter of intent to sell substantially all of its assets and liabilities to Advanced Mobile Communications Inc. (AdMoComm) in exchange for newly-issued shares of common stock of AdMoComm. AdMoComm is undertaking a strategy of combining a number of companies under one umbrella to build synergistic businesses in the mobile marketing sector.
The transaction is subject to customary conditions, including due diligence, financing, satisfaction of closing conditions, and negotiation and execution of a definitive agreement. The transaction is expected to be completed within six to eight weeks.
"By arranging to combine with AdMoComm, we believe that Xero Mobile is on its way to realizing its tremendous potential and becoming a world-leading mobile marketing company," said Roger Davis, President and CEO of Xero Mobile. "This deal will open further avenues for us to take advantage of the phenomenal potential within the personal marketing category in the wireless industry by combining Xero Mobile's innovation in both business and technology, and the resources and positioning of AdMoComm."
Upon completion of the transaction with Xero Mobile, AdMoComm intends to file a registration statement with the Securities and Exchange Commission and become a public reporting company, as well as seek a listing on a national securities exchange.
Commenting further on the announced transaction, Davis said: "We believe that this arrangement is in the best interests of Xero shareholders. Xero Mobile will receive a majority stake in Advanced Mobile Communications, and intends to distribute these shares to its shareholders once the registration statement filed by AdMoComm is effective. Once distributed, the shares of Advanced Mobile Communications received by Xero's shareholders will be free-trading."
Issuing a statement regarding the deal, Advanced Mobile Communications said: "We are very pleased with the current state of negotiations with Xero Mobile and see this as another step in our plan for strategic acquisitions that will position AdMoComm as an industry-leading supplier in the mobile marketing arena."
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities. As of the date of this release, no registration statement relating to the issuance or distribution of shares of AdMoComm has been filed with the Securities and Exchange Commission. This press release is being issued pursuant to and in accordance with Rule 135 under the Securities Act of 1933.
Included in this release are "forward-looking" statements involving risks and uncertainties, as defined in the Private Securities Litigation Reform Act of 1995. Such statements include information about the proposed business combination between AdMoComm and Xero Mobile, prospects for the combined company's future success, and the proposed registration with the SEC of AdMoComm's securities. These statements are based on management's current expectations and beliefs, and are subject to a number of factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. Actual results may differ materially from those anticipated due to a variety of factors, including the ability of Xero and AdMoComm to consummate their proposed business combination and raise adequate financing, obtaining and maintaining favorable license arrangements by each company, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending, Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Xero Mobile Inc. does not intend to update any of the forward-looking statements after the date of this release due to actual results, changes in its expectations, or otherwise.
Source: Xero Mobile, Inc.
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PGPM (.043)Announces Future Net Revenue and EPS Sep 29, 2006 12:57:00 PM Copyright Business Wire 2006 ) IRVING, Texas--(BUSINESS WIRE)--
Pilgrim Petroleum Corporation announced today the company's projected EPS (Net Earnings / Outstanding Shares) $102,370,000/358,841,164 of 0.29 based on Pilgrim's Future Net Revenues estimations. Thus, the resulting EPS multiplied by a sustainable growth rate of 25% and multiplied by the average industry P/E ratio of 14.79 (Reuters), Pilgrim's intrinsic value or estimated stock value should be worth $1.055 per share. This assessment doesn't include all of Pilgrim Petroleum properties, only those in Wichita and Archer counties. We will disclose results next quarter for the rest of our properties.
In its efforts to become a fully reporting company, Pilgrim Petroleum concluded its initial phase of acreage resource estimation and economic valuation. It will continue to value and put in line the additional properties recently added to its asset portfolio, while implementing its ongoing well re-activation program.
Pilgrim Petroleum management is focused on multiple horizons with hydrocarbon potential and is proud to communicate that the company's combined assets of marginal wells and potential resources will create additional value to its current and future shareholders.
Rafael Pinedo, President of Pilgrim Petroleum Corporation, commented, "Pilgrim Petroleum is growing in a very fast pace with substantial opportunities. Management is committed to continue our process to be listed in Canada. Pilgrim Petroleum is looking forward to keeping investors informed of its progress and success in 2006."
About Pilgrim Petroleum Corporation
Headquartered in Irving, Texas, Pilgrim Petroleum Corporation is a publicly traded company (Pink Sheets:PGPM). The company is acquiring oil and gas leases, producing properties, mineral rights and surface interests primary on marginal fields. Once acquired, the company intends to develop each property to maximize the income from each by refurbishing and improving the existing production.
Forward-Looking Statements: The statements which are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements.
2006 Pilgrim Petroleum Corporation. The information herein is subject to change without notice. Pilgrim Petroleum Corporation shall not be liable for technical or editorial errors or omissions contained herein.
Source: Pilgrim Petroleum Corporation
----------------------------------------------
Pilgrim Petroleum Corporation Irving Eddie Monet 619-864-0166 emonet*americancapitalipo.com www.apetroleum.com
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HYRF (.02) Announces the Issue of MARTI Dividend Shares
Market Wire "US Press Releases "
APEX, NC -- (MARKET WIRE) -- 09/29/06 -- Earlier this year, HydroFlo, Inc. (PINKSHEETS: HYRF) announced its intent to issue dividend shares of MARTI stock to its stockholders. Due to a series of unforeseen events, this distribution was unavoidably delayed.
These issues have now been largely resolved and therefore HydroFlo, Inc. is proceeding with this prior commitment to its shareholders. Additional details of this distribution will be formally announced in early October, but are summarized below.
MARTI dividend shares will be distributed to HYRF shareholders at the rate of 63 shares per 1,000 shares of HYRF for holders of record as of March 31, 2006, and will consist of private shares of MARTI.
Ownership transfer will occur on or about October 6, 2006, with physical distribution scheduled to occur on or about October 20, 2006.
Additional information will be released when available and appropriate.
HydroFlo, Inc. is a business development company, as defined by the Investment Act of 1940. Headquartered in Apex, North Carolina, HydroFlo's core focus is to seek out synergistic acquisitions that will provide capital appreciation and income from its portfolio companies. The mission of HydroFlo, Inc. is to acquire and develop innovative technologies and businesses that will improve the quality of water throughout the world by means of detection, treatment and removal of contaminants.
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KING (.11) Announces New Project and Updates Shares Outstanding
Business Wire "US Press Releases "
AUSTIN, Texas--(BUSINESS WIRE)--
King Resources, Inc. (OTC: KING) KING announced today that the company has decided to implement a project creating a "Joint Venture Consortium" to fully capitalize on the professional offshore expertise of KING's exploration team who together have more than 170 years experience in the oil & gas Industry. In addition, King's management announces the number of shares issued and outstanding in a recent audit by KING's Transfer Agent.
Joint Venture Consortium
This planned Joint Venture calls for KING's exploration team to lead a consortium of oil & gas exploration companies in evaluating, bidding and acquiring offshore Gulf of Mexico blocks, at federal and state offshore lease sales.
The increase in interest in the offshore arena, particularly after the recent Chevron, Devon, Statoil, Jack 2, discovery in the Walker Ridge area in the deep Gulf of Mexico supports King's long held belief that substantial, economical oil & gas reserves remain to be found in the Gulf of Mexico. This Joint Venture will add to King's position in the area. Several large independent oil & gas companies have published analysis on the exploration potential of the Gulf of Mexico, which reflects King's thinking.
King's exploration team has successfully led similar consortiums in the past, which resulted in discoveries offshore Texas and offshore Louisiana, including the Vermillion area, where King has a Farmout on 10,000 acres with a potential of 250 BCF of gas. Some of these discoveries are still producing after more than 20 years.
Issued and Outstanding Shares
King has received the results of an audit by its Transfer Agent which shows that the total number of shares issued and outstanding is 152,687,640. The approximate trading float is 34 million shares.
King is negotiating the financing of acquisitions which may require some equity be provided by King. If market conditions warrant, this equity may be raised by issuing stock.
About King Resources
King Resources is a development stage Oil and Gas Exploration and Production Company.
King's team has worked together for over 40 years and has extensive offshore exploration experience in drilling, designing production platforms and production. King's team has evaluated and developed projects in the Gulf of Mexico, the North Sea, offshore Nigeria, Turkey, Egypt, the Arctic and other areas.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward-looking matters discussed in this news release are subject to certain risks and uncertainties in the Oil and Gas industry which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements including, but not limited to, the Company's liquidity and the ability to obtain financing, the timing of regulatory approvals, uncertainties related to corporate partners or third-parties, competition, and the early stage of exploration and development, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Source: King Resources, Inc.
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TITAF (.26) Supports Trading Through Carlin Financial in a Key Step Towards Program Launch
CCNMatthews "Canadian Press Releases "
EDMONTON, ALBERTA--(CCNMatthews - Sept. 29, 2006) - Titan Trading Analytics Inc. (TSX VENTURE:TTA) (OTCBB:TITAF) ("Titan") and its wholly owned subsidiary, Titan Trading USA, LLC are pleased to announce the completion of its software interface to Carlin Financial LLC's trading platform. This allows Titan Trading Analytics to offer more trading solutions to a greater number of professional and institutional traders.
This latest interface to Carlin's platform will allow the Titan Order Processing Software (TOPS) and Titan Order Execution Software (TOES) to be used by the numerous institutional and direct access trader clients that presently clear through Carlin. Carlin's Technology Department has been working in tandem with Titan's team of developers over the past three months. Titan Trading Analytics Chief Technology Officer Mike Gossland says "This is an extremely important achievement for us on a number of levels. The new link with Carlin expends our suite of current trading interfaces, among them ODL, Realtick and Redi-Plus and it clears the way for developing interfaces to MetaTrader and FIX. These are some of the most popular platforms in the industry, providing end-users with a broad spectrum of platforms when selecting their execution technology. Also, with this important interface completed we can finish other key components that are necessary for the roll-out of the server version and the entire suite of Titan Services."
Titan's Director of US Trading Operations, Philip Carrozza II, says "Carlin Financial is a full service broker/dealer that is also in the Direct Access Trading Space. They have hundreds of proprietary trades and dozens of small to medium-sized hedge funds using their Carlin Trader software. They have also been an important strategic partner to Titan's US Trading Operations during the development of various applications. With this piece of software completed we are prepared for future business opportunities via the Carlin Group."
This release may contain forward looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward looking statements. Titan does not assume any obligation to update any forward looking information contained in this news release.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT: Titan Trading Analytics Inc. Mr. Ken W. Powell (780) 438-1239 Fax: (780) 438-1249 (FAX)
Source: Titan Trading Analytics Inc.
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POCI (.40) Announces Fourth Quarter and Year End Results
PR Newswire "US Press Releases "
GARDNER, Mass., Sept. 29 /PRNewswire-FirstCall/ -- Precision Optics Corporation, Inc. (OTC Bulletin Board: POCI), ("Precision Optics") today announced operating results on an unaudited basis for the fourth quarter and fiscal year 2006 ended June 30, 2006.
Fourth Quarter Operating Results
Revenues - For the quarter ended June 30, 2006, revenues were $631,905 compared to $362,215 for the same period last year, an increase of 74.5%.
Net Loss - For the quarter ended June 30, 2006, net loss was $594,035, or $0.04 per share, a decrease of $520,073, from the net loss of $1,114,108, or $0.16 per share, for the same period last year. The weighted average common shares outstanding for the quarters ended June 30, 2006 and June 30, 2005 were 14,049,879 and 7,008,212, respectively.
Fiscal Year 2006 Operating Results
Revenues - For the year ended June 30, 2006, revenues were $2,284,693 compared to $1,349,819 for the same period last year, an increase of 69.3%.
Net Loss - For the year ended June 30, 2006, net loss was $2,272,473, or $0.26 per share, a decrease of $1,415,888 compared to the net loss of $3,688,361, or $0.55 per share, for the year ended June 30, 2005. The weighted average common shares outstanding for the years ended June 30, 2006 and June 30, 2005 were 8,768,629 and 6,749,003, respectively.
About Precision Optics
Precision Optics Corporation, a leading developer and manufacturer of advanced optical instruments since 1982, designs and produces high-quality medical instruments, optical thin film coatings, and other advanced optical systems. The Company's medical instrumentation line includes laparoscopes, arthroscopes and endocouplers and a world-class product line of 3-D endoscopes for use in minimally invasive surgical procedures. The Company continues to advance products through technical innovation, including development of: the next generation (patent pending) of 3-D endoscopes; the extension of Lenslock(TM) technology (patent pending) to its entire line of endoscopes; instrumentation utilizing the Company's micro-precision(TM) lens technology (patent pending) for optical components; assemblies and endoscopes under 1 mm. Precision Optics Corporation is registered to ISO 9001:2000, ISO 13485:2003, and CMDCAS Quality Standards, and complies with the FDA Good Manufacturing Practices and the European Union Medical Device Directive for CE Marking of its medical products. The Company's Internet Website is http://www.poci.com .
Forward-looking statements contained in this news release, including those related to the future success of Company's newly released products and products under development are made under "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties that could materially affect future results. These risks and uncertainties, many of which are not within the Company's control, include, but are not limited to, the uncertainty and timing of the successful development of the Company's new products; decisions by customers to place orders for the Company's products; the risks associated with reliance on a few key customers; the Company's ability to attract and retain personnel with the necessary scientific and technical skills; the timing and completion of significant orders; the timing and amount of the Company's research and development expenditures; the timing and level of market acceptance of customers' products for which the Company supplies components; performance of the Company's vendors; the ability of the Company to control costs associated with performance under fixed price contracts; the continued availability to the Company of essential supplies, materials and services; and the other risk factors and cautionary statements listed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission, including but not limited to, the Company's Annual Report on Form 10-KSB for the year ended June 30, 2005.
SOURCE Precision Optics Corporation, Inc.
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