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/C O R R E C T I O N -- DVLN(.15) In the news release, DVL, Inc. (OTC Bulletin Board: DVLN) Reports Results of Operations for the Quarter Ended March 31, 2007, issued earlier today by DVL, Inc. over PR Newswire, we are advised by the company that the values for shareholder's equity in the third paragraph should read '$19,889,000' rather than '$19,889' and '$19,909,000' rather than '$19,909' as originally issued inadvertently.
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DVL, Inc. Reports Results of Operations for the Quarter Ended March 31, 2007
NEW YORK, May 17 /PRNewswire-FirstCall/ -- DVL, Inc. (OTC Bulletin Board: DVLN) announced its operating results for the three month period ended March 31, 2007.
DVL's income from continuing operations for the quarter ended March 31, 2007 was $753,000 ($.02 basic and $.01 diluted per share) as compared to $341,000 ($.01 basic and $.01 diluted per share) for the quarter ended March 31, 2006. After a loss from discontinued operations of $124,000 DVL's net income was $629,000 for the quarter ended March 31, 2007.
Shareholder's equity decreased to $19,889 as of March 31, 2007 from $19,909 as of December 31, 2006 following DVL's repurchase of 5,406,113 shares of its outstanding common stock for $648,734.
This press release contains statements which constitute 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. Included are statements regarding the intent, belief and/or current expectations of the Company and its management. The Company's stockholders and 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 projected in the forward-looking statements. Such risks and uncertainties include, among other things, general economic conditions, and the actual performance of the portfolios of periodic payment receivables and other risks and uncertainties that are discussed herein and in the Company's reports filed with the Securities and Exchange Commission.
DVL, Inc. is a commercial finance and real estate company which owns and services real estate, commercial mortgages and other diversified commercial and consumer finance assets.
Statistical table follows:
DVL, INC. RESULTS OF OPERATIONS (in thousands except share and per share data)
Three Months Ended March 31,
2007 2006 Revenues $2,878 $2,282
Income from continuing operations $753 $341
Loss from discontinued operations (124) - 0 -
Net income $629 $341
Basic earnings per share:
Income from continuing operations $.02 $.01 Loss from discontinued operations .00 .00 Net income $.02 $.01
Diluted earnings per share:
Income from continuing operations $.01 $.01 Loss from discontinued operations .00 .00 Net income $.01 $.01
Weighted average shares outstanding - basic 37,534,583 38,315,466
Effect of dilutive securities 20,886,850 22,501,730
Weighted average shares outstanding - diluted 58,421,433 60,817,196
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IDCP(.03) Announces First Quarter Results National Datacomputer, Inc. (OTC Bulletin Board “IDCP”) announced the results today of its first quarter period ended March 31, 2007.
Bruna A. Bucacci, Chief Operating and Accounting Officer, reported that revenues for the first quarter decreased 31% to $297,693 compared to revenues of $429,370 for the same quarter a year ago.
The first quarter resulted in a net loss of $248,210 as compared to a net loss of $57,473 for the same quarter last year.
Ms. Bucacci stated “The decreased revenue, in the first quarter of 2007, was due primarily to lower professional service billings of our new route software product, RouteRider LE. We are currently concentrating on orders we have received from new and existing customers and our current backlog is approximately $400,000. These orders, which contain both hardware and software elements, have been partially delivered, and we should be able recognize their revenue once customer acceptance is received.”
Founded in 1986, National Datacomputer, Inc. markets, sells, and services computerized systems used to automate the collection, processing and communication of information related to product sales and distribution. The Company's products and services include data communication networks, application-specific software, hand-held computers and related peripherals, as well as associated training and support services
This release contains “forward looking statements” that involve risks and uncertainties, including, without limitation, continued acceptance of the Company’s products, cancellation of orders, new products and technological changes, continuing losses and other risks detailed in the Company’s periodic reports filed with the Securities and Exchange Commission.
National Datacomputer, Inc. Bruna A. Bucacci, 978-663-7677 Chief Operating and Accounting Officer bbucacci*ndcomputer.com
Source: Business Wire (May 17, 2007 - 5:10 PM EDT)
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USXP(.0005) The Coalition for Luggage Security Comments on LAX Scare The Coalition for Luggage Security today is once again raising concern about the dangers of luggage in airports. Late Wednesday night, terminal 2 at LAX International Airport was evacuated when baggage-screening equipment detected two 10-inch WWII-era mortar shells in a traveler's suitcase. These shells were inert and posed no danger.
"This just shows how easily a bomb, hidden in a suitcase, can get into an airport," said Richard A. Altomare, Chairman and Founder of The Coalition for Luggage Security, and CEO of Universal Express, Inc. (OTCBB: USXP). "The only way we can prevent a serious terrorist threat infiltrating airports with luggage bombs is to take luggage out of the airports," continued Mr. Altomare.
The Coalition for Luggage Security aims to do just that. "What if this had been a real bomb, what if it had detonated inside the airport? Do we really want to wait until this happens to find a better solution?" asked Josh Holm, Director of the Coalition for Luggage Security.
The Coalition for Luggage Security urges Government officials and the airline industry to eliminate threats that result from the presence of luggage in airports and on passenger flights. Passenger luggage should not be shipped on passenger flights, and we propose passengers should be given a choice to ship their bags in advance of their trip to reach their destination before they arrive. This action would dramatically reduce the number of bags in airplanes and airports. A decline in passenger baggage reduces the prospect of infiltration of terrorist devices in airports or onboard airplanes.
The Coalition for Luggage Security was established to ensure the safety of travelers through alternate means of luggage transportation. The Coalition consists of prominent businesspersons and companies that educate the public, Congress and the Administration on the importance of solving the luggage and cargo safety issues that exist in airlines and airports.
Safe Harbor Statement under the Private securities Litigation Reform Act of 1995: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
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DPAC(.10) Quatech Launches AirborneDirect(TM) Heavy-Duty Wireless Lines to Market Quatech Inc., a wholly-owned subsidiary of DPAC Technologies Corp. (OTCBB:DPAC) and a leader in 802.11 wireless machine-to-machine (M2M) connectivity solutions, today launched the AirborneDirect™ Heavy-Duty Wireless Device Server and Bridge product lines to complement the AirborneDirect™ Industrial Grade Wireless Device Servers and Bridges.
As the leading OEM supplier of embedded 802.11 wireless modules for the telematics industry and building off the success and reliability of embedded wireless lines, AirborneDirect™ Heavy-Duty products offer wireless solutions in an external, durable enclosure. This enables solution providers to easily add heavy duty Wi-Fi communications and simplify the process of deployment in harsh environments and extreme applications. Telematic systems and other M2M markets can now connect to corporate and public wireless LAN networks via external AirborneDirect™ Wireless Device Servers and Wireless-to-Ethernet Bridges.
“With the launch of the AirborneDirect Heavy-Duty line, we cater to an exclusive niche of M2M environments. Unlike our embedded radio and module product lines, which can wirelessly network everything and anything, the Heavy-Duty line is specifically designed for a handful of vertical markets – including telematics,” said Steve Runkel, Quatech CEO.
“With impeccable specifications and resistance to severe environmental threats, the AirborneDirect Heavy Duty products ensure secure and reliable 802.11 wireless networking under extreme conditions.”
AirborneDirect’s 802.11 technology enables systems complete wireless access and control of virtually any type of equipment with a serial port. With a durable enclosure and ruggedized electronics, it shields the device from external elements, including water, dust and other environmental issues. This powerful tool is an optimal wireless solution for vehicle monitoring, industrial shop floors or any other extreme surroundings.
Boasting industrial grade features and advanced security support, the Heavy-Duty products highlight the following specifications:
Extended operating temperature range (-40°C to +85°C) Advanced security support includes WEP 64/128, WPA (TKIP), 802.1x (LEAP) SAE J1455 compatible power supply Low power modes RS-232 or 10Base-T interface 802.11b or 802.11b/g compliant radio OS specific drivers not required In addition, the AirborneDirect Heavy-Duty lines run directly on 12 volt and 24 volt battery power to enable easy integration by telematics solution providers.
Quatech enables reliable machine-to-machine (M2M) communications via secure 802.11 wireless or traditional wired networks with industrial grade embedded radios, modules, boards and external device servers. For local and mobile connections, Quatech serial adapters provide device connectivity and port expansion via any interface option. Satisfied customers rely on our unique combination of performance and support to improve bottom line performance through the highest application quality and lower total cost of ownership (TCO). Quatech markets its products through a global network of distributors, resellers, systems integrators and original equipment manufacturers (OEMs). Founded in 1983, Quatech is headquartered in Hudson, Ohio, and merged with DPAC Technologies Corp. (OTCBB: DPAC) in February 2006. www.quatech.com.
Forward-Looking Statements
This press release includes forward-looking statements. You can identify these statements by their forward-looking words such as "may," "will," "expect," "anticipate," "believe," "guidance," "estimate," "intend," "predict," and "continue" or similar words or any connection with any discussion of future events or circumstances or of management's current estimates or beliefs. Forward-looking statements are subject to risks and uncertainties, and therefore results may differ materially from those set forth in those statements. More information about the risks and challenges faced by DPAC Technologies Corp. is contained in the Securities and Exchange Commission filings made by the Company on Form S-4, 10-K, 10-Q and 8-K. DPAC Technologies Corp. specifically disclaims any obligation to update or revise any forward-looking statements whether as a result of new information, future developments or otherwise.
Quatech, Inc. Jennifer Mulligan, 330-655-9085 Fax: 330-655-9010 Email: jennifer.mulligan*quatech.com
Source: Business Wire (May 17, 2007 - 4:31 PM EDT)
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NWACQ(.029) and Midwest Airlines Announce Codeshare Agreement May 17, 2007 04:03 PM Eastern Daylight Time EAGAN, Minn.--(BUSINESS WIRE)--Northwest Airlines (Pink Sheets:NWACQ) today announced that it has signed a memorandum of understanding with Midwest Airlines to begin codesharing this summer.
Subject to a final agreement, the codeshare flights will expand the networks of both carriers by opening up 250 city pairs and more than one thousand new flight options for customers. Select Midwest Airlines flights that connect at Midwest’s Milwaukee and Kansas City hubs will carry the two letter “NW” code. Northwest will also codeshare on Midwest Airlines-operated flights between Milwaukee, Kansas City and Omaha to Atlanta, Boston, Hartford, Los Angeles and San Francisco to facilitate connections to the Northwest/KLM trans-Atlantic and Northwest trans-Pacific route network.
Routes operated by Northwest that will include the Midwest Airlines two letter “YX” code are flights that connect through Northwest’s hubs at Detroit, Minneapolis/St. Paul and Memphis, as well as flights to and from Indianapolis, to destinations throughout the United States and Canada. Midwest’s code will also appear on Northwest-operated flights to Hawaii for Midwest customers traveling from Milwaukee, Kansas City and Omaha through Seattle, San Francisco and Los Angeles.
The new codeshare agreement will augment the frequent flyer partnership Northwest and Midwest launched in May 2006.
“We are pleased to be expanding our existing agreement with Midwest Airlines to include codesharing,” said Nathaniel Pieper, Northwest’s vice president – alliances. “Codesharing enables Northwest to offer our customers the expanded reach and travel choices of two airlines while enjoying the convenience of a single ticket and check-in.”
"We're thrilled to expand our partnership with Northwest," said Scott R. Dickson, Midwest Airlines senior vice president and chief marketing officer. "This new codeshare agreement is a win-win for everyone involved. It provides travelers with a wider choice of travel destinations and significant revenue-generating opportunities for both carriers."
Members of Northwest’s WorldPerks and Midwest’s Midwest Miles frequent flyer programs will continue to receive accrual and redemption benefits on flights operated by both airlines.
Northwest is one of the world’s largest airlines with hubs at Detroit, Minneapolis/St. Paul, Memphis, Tokyo and Amsterdam, and approximately 1,400 daily departures. Northwest is a member of SkyTeam, an airline alliance that offers customers one of the world’s most extensive global networks. Northwest and its travel partners serve more than 900 cities in excess of 160 countries on six continents.
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EFGO(.0007) Announces Plans to Purchase International Express Payment Corp. (iexpay Jianxi) May 18, 2007 10:59:00 AM LAS VEGAS, NV, May 18 /PRNewswire-FirstCall/ - Esprit Financial Group, Inc. (PINK SHEETS:EFGO.PK) announced today that further discussions with International Express Payment (Jiangxi) Corp. have resulted into consideration of an acquisition of iexpay Jiangxi by Esprit.
Further to the press release by Esprit issued on May 17 2007, Esprit has agreed to hire founders and principal shareholders Robert Xu and Peter He as of today's date moving forward. Both Robert and Peter will work in concert with Esprit's project manager of EM2 Jack Chang to speed up the process of making iexpay Jianxi an open loop payment system so to enable Esprit to begin generating revenues at the earliest.
Continued in-depth discussions between Esprit and iexpay Jiangxi have prompted the parties to consider a friendly takeover of Jiangxi by Esprit. Robert Xu has said "We are very thankful and excited about this opportunity with Esprit, as we see a huge up side potential for the iexpay Jianxi under the Esprit umbrella. I'm very impressed with the operations of Esprit and the ability of the management of this company"
CEO Garr Winters noted; "Our discussions have proven very fruitful. The more time we spend with each other, the greater the synergies that become apparent. Through our discussions, both Robert and Peter have recognized the opportunities within Esprit to further grow.
Winters added; "We will continue discussions through the weekend, and early part of next week. The key areas of discussion will now focus on corporate valuation and conducting due diligence of iexpay Jiangxi. It is anticipated that once this deal is consummated, consideration will be a 10% cash and 90% stock transaction. The purchase of iexpay Jianxi is valued at about $ 2,500,000.00 USD.
Esprit will issue restricted shares in exchange for controlling ownership of iexpay Jiangxi. Mr. Winters added this should put to rest the issue as to why Esprit increased the outstanding share structure several months ago once and for all. This needed to be done to allow Esprit to acquire growth opportunities, and to further seek out additional revenue producing opportunities to add to Esprit's group.
In addition, both Peter and Robert commutative remuneration will be pegged to the performance and the success of the iexpay Jianxi. Mr. Winters added, in keeping with Esprit's key management and performance pay structure both Peter and Robert will be paid $1.00 annually plus favorable stock options".
Although Mr. Xu and Mr. He own a substantial majority of the iexpay Jianxi. Esprit's management will want to consult with minority shareholders as well, in keeping with Esprit's good corporate philosophy of open dialogue and consultation with all stakeholder groups large or small".
Iexpay Jiangxi is a federally incorporated company in Canada, with corporate offices headed by Robert Hu in Toronto, Ontario, Canada and operational and programming support offices with approximately 20 support staff managed by Peter He located in Jiangxi, China. Iexpay Jianxi owns several trademarks and proprietary patents in China of the iexpay Joangi payment system.
Winters concluded; "We see tremendous growth opportunities in the Asian market. This deal will not only provide a solid platform from which to maintain continued growth within China, but will also provide a very cost-effective center of operations from which we can develop future growth from other Asian countries. The Advanced Electronics Fund Management division, headed by Jack Chang, has previously identified the Asian market as a key geographic center of operations, and opened an office in Hong Kong. Once this transaction is consummated, we will move all operations to iexpay Jiangxi's office in China. As International Express Payment Corp head office is located in Toronto Canada, their Canadian operations with Esprit's operations in Toronto should be a relatively seamless and easy process with little or no business interruptions.
As Monday May 21 2007 is a Federal holiday in Canada, and Esprit will not have an opportunity to seek external due diligence of this purchase with Canadian governing bodies, Esprit management foresees that further guidance regarding this acquisition and discussions will not be forthcoming until at least the middle of next week.
About International Express Payment (Jiangxi) Corp.
Jiangxi is the leading online payment platform in China. Owned and operated by International Express Payment Corporation, it utilizes and integrates the world leading online technology and banking facilities. 21 major banks in China have signed payment agreements with Jiangxi. The company is dedicated to providing secure and efficient customer services for online payment transaction and has established operational strategic partnerships with these financial institutions offering online payment services. Jiangxi services currently cover over 2.7 billion domestic and international bank cards.
About Esprit Financial Group Inc.
Esprit Financial Group Inc, is a public company engaged in a diversified number of online financial services.
PayDay Loans: The Company is a pioneer in the payday loan industry, and continues to develop the most comprehensive menu of services in the cash advance industry and will retain the Cash Now brand for many of these services. Operations include licensing of a comprehensive suite of Internet-based payday loan and check cashing software and private label back end office systems for the sub prime market, under the Cash Now banner www.cashnow.org. The Company also operates www.cashnow.net, which generates leads of consumers looking for payday loans on behalf of our licensees. The company's proven business model comprises operations in the U.S. and Canadian markets as well as several foreign markets. Additionally, the Company's website is the most advanced payday-lending portal, offering key insight to clients and potential clients alike.
Forex: Additionally, the Company's Forex Trading division offers an innovative low-cost online Forex trading service at www.cashnow.com. The Company acts as an Introducing Broker for Advanced Markets, Inc., and is targeted to serious day traders. All transactions are handled on a streaming pass-through basis. There is no trading desk, and no manipulation of quotes that lag the actual interbank market. Importantly, traders can continue to trade actively even during volatile periods that result from major news events of publishing of market reports.
Advanced Electronic Funds Management: The Company's Advanced Electronic Funds Management (AEFM) division offers Cash Now Check 21 - an advanced checking clearing service that can significantly reduce holdback periods by banking institutions, particularly valuable for international markets. Its EM2 (Electronic Money Management System) product is a comprehensive e-wallet capable of managing multiple bank accounts, remitting funds worldwide and provide banking capabilities to consumers without requiring that they have a bank account.
Structured Debt Resolution: This division will offer services that allow banks, financial institutions and other creditors to invite defaulted clients to negotiate a settlement online, in a neutral and non-confrontational manner, bypassing traditional collection calls and mail delivered notices of default.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Esprit Financial Group's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Esprit Financial Group's periodic reports filed with the regulatory authorities.
SOURCE Esprit Financial Group
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RKLC(.095) Signs Lease For Taco Time(R) Restaurant May 18, 2007 12:35:00 PM MILLER PLACE, N.Y., May 18 /PRNewswire-FirstCall/ -- Rockelle Corp. (OTC Bulletin Board: RKLC.OB), a developer, owner, operator and franchiser of quick service restaurants, cafes and specialty food concepts, announces that they have signed a lease for a Taco Time franchise in Long Island, NY.
The February 2007 Quick Service Restaurant Magazine (www.qsrmagazine.com) featured Taco Time on its front cover and noted that Taco Time was one of the fastest growing franchises with under 300 locations in 2006. The article also reported that sales for Taco Time exceeded $135 million in 2006, with sales per unit averaging $562,000.
As previously announced, Rockelle purchased from Kahala Corp. (www.Kahalacorp.com) the exclusive area development rights for Taco Time for all five Burroughs of New York along with Nassau and Suffolk counties in Long Island, NY. The combined population of Nassau and Suffolk counties and the five Boroughs exceeds 11 million.
"Taco Time uses only fresh, wholesome ingredients and prides itself in offering healthy choices. From vegetarian items to their unique line of crisp burritos, they use skinless chicken and low-fat beef that is never frozen," said Mr. Gerard Stephan, Rockelle's President & CEO. "This Taco Time will be in Port Jefferson Station, LI, NY, in the heart of Suffolk County. The area population is approximately 1.5 million people and the location is near several local colleges and universities."
Mr. Stephan added, "This location will have both sit-down dining and drive-thru access. Additionally, through Rockelle's relationship with Chock full o'Nuts, we will be able to offer a full line of coffee and breakfast items. That gives us the ability to serve breakfast, lunch and dinner. We will use this location as the model for future New York area Taco Time franchise sales."
Mr. Stephan continued, "I built the first Quizno's in Suffolk Co. just four years ago, and now there are over fifty locations. I feel we can have the same type of success with Taco Time. We are excited about our relationship with Kahala Corp. and look forward to what Taco Time will do for our revenue and company growth in the years ahead."
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 forward-looking statements contained in this release.
SOURCE Rockelle Corp.
---------------------------------------------- Investors Jerry Stephan of Rockelle Corporation +1-631-244-9841 or Brokers Surety Financial Group LLC +1-410-448-1130
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