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HBSC (.113) and its Joint Venture Partner Dairy Development Group Sign Land Purchase Agreement to Build an Energy Park to Convert Waste to Energy to Power a Proposed Ethanol Production Facility
Market Wire "US Press Releases "
PALO ALTO, CALIFORNIA -- (MARKET WIRE) -- 04/25/07 -- Human BioSystems ("HBS" or "Company") (OTCBB: HBSC) announced on February 12, 2007 that HBS BioEnergy ("HBSE"), a wholly owned subsidiary of the Company, formed a joint venture with Visalia-based Dairy Development Groups with its waste bioconversion technology platforms to build a fully integrated Energy Park in the San Joaquin Valley of California. It was also announced that the Energy Park will utilize waste from surrounding dairies to provide the power needed to fuel a proposed ethanol plant to be located on this site.
"HBS BioEnergy/DDG Corcoran LLC Joint Venture ("JV") announced today that it has entered into an agreement to purchase approximately 925 acres of land in Tulare County, California for the proposed construction of a novel, vertically integrated ethanol generation facility which includes a waste-to-energy plant," said Len Chapman, CEO/Manager of the JV. "This is the first of several such plants planned for construction," he continued.
The purchase agreement of April 17, 2007 has set the purchase price at about $12 million with an initial deposit at the opening of escrow and total deposits in the aggregate amount of $690,000 over an 18 month period from the opening of escrow.
"The 18 month period will be used by the JV to finalize its review of the suitability of the property for its planned uses before we close escrow," said Len Chapman, CEO/Manager of the JV.
Mr. Claude Luster III, President of HBSE, noted that, "This project would be the first of its kind in the United States and would utilize proprietary technology designed to mitigate the cost for the production of ethanol. I also believe it would give HBSE a substantial competitive advantage in this rapidly developing marketplace."
The Bush administration has advocated a steady and aggressive increase in the generation of renewable fuels including ethanol. In conjunction with the removal of MTBE from the marketplace in three states, this has stimulated increasing demand for ethanol as a fuel source. In addition, most new automobiles are capable of burning E-85, a fuel mixture containing 85% ethanol.
This policy is being formulated because of the unstable geopolitical circumstances around the globe and the growing dependence of the US economy on dwindling oil reserves. It would also incentivize the American economy to supply the grain required for both the food and fuel markets.
Mr. Luster further went on to say that, "Rising corn prices make it all the more expedient to develop unique new technologies such as these to remain competitive in a tight marketplace."
Dairy Development Group assists dairymen in planning, permitting, building and operating their dairies, with a focus on environmental stewardship, waste mitigation and compliance.
HBS BioEnergy is in the business of bio-fuel production, with a team focused on locating, constructing and operating bio-fuel facilities using cutting-edge technologies. HBS BioEnergy has offices in Fresno, California.
For further information, contact Len Chapman at 559-738-5410 or Nancy Lockwood at 559-733-3737.
Certain statements contained herein are "forward-looking'' statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, the inability of HBS to raise funding for the proposed joint venture projects, failure to consummate the purchase of real property on which the park will be built, failure to obtain regulatory approvals for the construction of the energy park and ethanol plant, failure to obtain the required financing and to construct the energy park and ethanol plant, failure of the energy park and ethanol plant to meet standards, the inability to find raw material for the production of energy and ethanol or to sell the energy and ethanol on acceptable terms, the risks involved in pursuing a business unrelated to HBS' prior business, and other factors discussed in filings made by the Company with the Securities and Exchange Commission.
Contacts: Human BioSystems Harry Masuda (650) 323-0943
Investor Relations Yes International (800) 631-8127
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LOS ANGELES, CA and SHENZHEN, CHINA, Apr 25, 2007 (MARKET WIRE via COMTEX News Network) -- China Digital Communication Group (OTCBB: CHID), a manufacturer of battery components in China, announced today that it has initiated a strategic repositioning of the company with the sale of its subsidiary Galaxy View, International. The transaction was valued at US $3 million.
China Digital said it is working on other potential acquisitions that will restructure the company.
Xu Zhongnan, CEO of China Digital Communication Group, said, "Shortly after our acquisition we experienced unfavorable delays in the collection of Galaxy View's accounts receivable because of the bargaining power of its largest customer, who holds a great share of the market. Our vendors had to be paid immediately, which put pressure on our working capital to continue operations. As a result, we decided to sell the division."
Zhongnan said, "Our company is now actively looking for merger and acquisition candidates in several attractive industries. We believe the sale of Galaxy eases the pressure on our working capital and we look forward to finding and acquiring other promising companies. There are numerous opportunities in China today and we intend to capitalize on them."
About China Digital Communication Group
China Digital Communication Group owns Shenzhen E'Jenie Science and Technology Development Co. Ltd. E'Jenie manufactures and sells advanced high-quality lithium-ion battery shell and cap products to all major lithium-ion battery cell manufacturers in China and has recently begun manufacturing complete batteries. E'Jenie's products are used to power mobile phones, MP3 players, laptops, digital cameras, PDAs, camera recorders and other consumer electronic digital devices. China Digital Communication Group is continuing to seek acquisitions in new global markets, including the United States. For more information, visit http://www.chinadigitalgroup.com or contact Jacky Jiang of China Digital Communication Group at (626) 432-5427, e-mail: chinacso*chinadigitalgroup.com.
For investor relations information regarding China Digital Communication Group, contact Frank Hawkins or Ken AuYeung, Hawk Associates, at (305) 451-1888, e-mail: info*hawkassociates.com. An online investor kit including press releases, current price quotes, stock charts and other valuable information for investors may be found at http://www.hawkassociates.com and http://www.americanmicrocaps.com. To receive free e-mail notification of future press releases for this company, sign up at http://www.hawkassociates.com/email.aspx.
Forward-looking statement: Except for the historical information, the matters discussed in this news release may contain forward-looking statements, including, but not limited to, factors relating to future sales. These forward-looking statements may involve a number of risks and uncertainties. Actual results may differ materially based on a number of factors, including, but not limited to, uncertainties in product demand, risks related to doing business in China, the impact of competitive products and pricing, changing economic conditions around the world, release and sales of new products and other risk factors detailed in the company's most recent annual report and other filings with the Securities and Exchange Commission.
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TAOL(.07) Updates Project at Golondrina Property, Colombia Tao Minerals Ltd. ("Tao") (OTCBB:TAOL) reports today that it has received the final concession contract, from Ingeominas department of the Colombian government for the Golondrina Project. This contract is another important milestone in solidifying Tao´s position in the Golondrina project. Tao Minerals is currently seeking financing with the previous initial financiers and expects to make an announcement shortly on a further financing. This financing should allow completion of all phases of the project including current phase two trench excavations, cartography and sampling analyses, phase three and phase four rotator diamond drill program costs, along with all camp and manpower costs. As reported earlier the phase one trenching and sampling program at the Golondrina produced multiple high grade gold values up to 72.87 grams per tonne. Tao Minerals has a number of recent trench samples at the lab for analysis and expects to report on those within the next ten days.
Notice Regarding Forward Looking Statements
This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the acquisition of a majority interest in two properties located in Nariño Department, Southwest Colombia.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the last reported fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Tao Minerals James Sikora, President, 0115743110720 sikora*taomining.com
Source: Business Wire (April 25, 2007 - 5:48 PM EDT)
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MLPH(.04) Progress in Molecular's Drug Discovery Program to Be Presented at the World Congress on Inflammation Apr 25, 2007 8:38:00 PM LOS ANGELES, CA -- (MARKET WIRE) -- 04/25/07 -- Molecular Pharmacology (USA) Limited (OTCBB: MLPH) (the "Company") is pleased to announce that its progress in its drug discovery program collectively operated by its Australian subsidiary Molecular Pharmacology Limited and its principal shareholder, Pharmanet Group Limited ("MPL Group"), will be presented at the 8th World Congress on Inflammation in Copenhagen in June 2007.
The MPL Group has received invitations from the Scientific Committee of the World Congress to present three separate scientific papers on developments of the Company's licenced topical anti-cytokine and anti-inflammatory drug developments.
The World Congress on Inflammation is one of the premier scientific forums for new discoveries in inflammation control and management. Management believes to have three papers accepted at such a prestigious forum provides a strong endorsement of the scientific quality of the Company's drug discovery program.
The three papers to be presented in Copenhagen in June 2007 cover the management of sun-damage and photo-aging using MPL Group's topical anti-cytokine complex, the reduction of pro-inflammatory cytokines in human monocytes using MPL Groups Zn-plasma protein complex and the influence of MPL Group's patented trace element complex on managing pro-inflammatorily cytokines in arthritis.
The three papers to be presented at the World Congress on Inflammation represent only a small part of MPL Group's recent progress in the development of its proprietary Tripeptofen drug development platform. The public release of this new data in Copenhagen has only recently been made possibly by completion of the Company's expanded intellectual property program.
Molecular Pharmacology (USA) Limited 8721 Santa Monica Blvd., Suite 1023 Los Angeles, CA 90069-4507
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FDEG(.04) Update: Peach Creek West Apr 25, 2007 10:52:00 PM CARSON CITY, Nev., April 25 /PRNewswire-FirstCall/ -- Friendly Energy Corp. (OTC: FDEG.PK) reports today that it is in the process of completing its development plan for the Peach Creek West prospect.
Friendly Energy has Identified five viable zones for development.
Utilizing today's technologies, there are five separate and distinct economic recovery zones for Friendly Energy to explore and exploit. The first being the recovery of the Hunton, Viola, 1st and 2nd Wilcox zone, and the second being a deeper well to the Pennsylvanian sands geological zones.
Assuming that the planned development program of four target wells per prospect is implemented and successful, then each prospect should produce approximately 500,000 barrels of oil, however the formations could yield significantly more.
"The Company is very pleased with the opportunity to begin development of the Peach Creek West prospect," states company President Douglas Tallant. "The company has been moving forward in its plans for this prospect over the last several months and expects significant results from its development. Friendly Energy has experienced several set-backs during the last few months with the Asher #1 well. After completion, the well tested at over four (4) barrels per hour, or roughly one hundred (100) barrels per day. Then the domilite zone broke open and flooded the entire well. We had hoped we could save the Viola zone, but we could not. After much expense in draining the water and resealing, we co-mingled the remaining two pay zones. At this point in time, production is minimal, but we are hoping to go back in and clear the remaining debris to up to production. During this same period of time, we drilled a well on Peach Tree. This well was deemed to be a dry hole, however, the field tests heavy for gas and at this time we are weighing our options as related to drilling for gas in this field."
The board of Directors also reports that the company continues it's diligence in completing the quarterly filings, however delays on behalf of the completion of the audits have kept the company from moving forward to date. It is still the companies intention to complete the audit and become SEC compliant as soon as possible.
Friendly Energy is a development stage company in the Oil and Gas Exploration Industry.
This news release contains information that is "forward-looking" in that it describes events and conditions, which Friendly Energy Inc. ("FDEG") reasonably expects to occur in the future. Expectations for the future performance of the business of FDEG are dependent upon a number of factors, and there can be no assurance that FDEG will achieve the results as contemplated herein and there can be no assurance that FDEG will be able to conduct its operations or production from its properties will result from or continue as contemplated herein. Certain statements contained in this report using the terms "may," "expects to," and other terms denoting future possibilities, are forward-looking statements. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks, which are beyond the Company's ability to predict, or control and which may cause actual results to differ materially from the projections or estimates contained herein. FDEG disclaims any obligation to update any forward-looking statement made herein.
SOURCE Friendly Energy
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FECOF(.021) Reports on Anticipated Delay in Annual Filings for Canada Apr 25, 2007 7:11:00 PM CALGARY, Alberta, April 25 /PRNewswire-FirstCall/ -- FEC Resources Inc (OTC Bulletin Board: FECOF) ("FEC" or "the company") reports that it expects to be delayed in the filing of its audited year end financial statements with Canadian Securities Administrators and as a result may face a cease trade order in Canada until the financials are filed. It is expected that the Company will appear on the default issuers list of the British Columbia Securities Commission on May 3, 2007 and a cease trade order may then be issued on May 9, 2007 in Canada.
As the Company is required to report its interests in Forum Energy PLC, Metalore Mining Corp, and Lascogon Mining Corp. using the equity method of accounting; the audited financials of those companies are also required to be received by the Company in order to record its investment and share of profit or loss in each company. Under the equity method of accounting, investments are initially recorded at cost and the carrying value is adjusted thereafter to include the Company's pro-rata share of earnings of each company. The amount of the adjustment is included in the determination of net income by the Company and the investment account of the Company is also increased or decreased to reflect the Company's share of capital transactions and changes in accounting policies and corrections of errors relating to prior period financial statements applicable to post acquisition periods. Profit distributions received or receivable from each company will also reduce the carrying value of the investment.
The Company has been advised that it will not receive the final audited financials of at least one of the companies by FEC's required deadline of April 30, and as a result FEC will be unable to have its audit completed in time. The Company has been advised that all information should be available from all of the companies mentioned by May 15, 2007 and FEC expects to file its annual audited financial statements shortly thereafter.
The Company has made several attempts to get an extension on the deadline but was unsuccessful in doing so. FEC will issue further updates as necessary to keep shareholders advised of the status of the filings.
FEC Resources Inc, holds a diverse portfolio of Oil, Gas, Coal, Gold and Iron Ore assets located in the Philippines through its shareholdings in Forum Energy Plc, Lascogon Mining Corporation and Metalore Mining Corporation. For further information email info*fecresources.com
On behalf of the Board of, FEC Resources Inc. "Larry W. Youell" Larry W. Youell President and CEO This release contains "forward looking statements" as per Section 21E of the US Securities and Exchange Act of 1934, as amended. Although the Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Management is currently reviewing many options and there is no assurance that they will not make decisions other than those now contemplated. The Company is subject to political risks and operational risks identified in documents filed with the Securities and Exchange Commission, including changing and depressed oil prices, unsuccessful drilling results, change of government and political unrest in its main area of operations
For more information please contact Larry Youell at (403) 290-1676 e-mail info*FECResources.com or visit the FEC Resources website at www.FECResources.com
SOURCE FEC Resources Inc
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VYEY(.26) Court Rules Victory Energy Corporation in Breach of Settlement Agreement Apr 26, 2007 12:30:00 AM LOS ANGELES, CA -- (MARKET WIRE) -- 04/26/07 -- Former Victory Capital Holdings Corp., now known as Victory Energy Corporation (OTCBB: VYEY) CEO George Sharp announced today that a California Superior Court Judge has found Victory Energy in material breach of a Settlement Agreement that the Company entered into with Mr. Sharp in settlement of a civil action he filed for Fraud, Negligent Misrepresentation, and Breach of Contract (California Superior Court Dockets: GIC840172 and 05CC10976).
Victory had previously filed a counter-suit against Mr. Sharp, but that action was dismissed by the Appellate Court under the California anti-SLAPP (Strategic Lawsuit Against Public Participation) statute. At that time, the court had determined that it had not seen any evidence of contractual relationships or customers, in spite of several press releases by the Company announcing various acquisitions and other relationships.
Mr. Sharp sought the ruling because Victory had failed to continue to provide payments due to him under the Settlement Agreement. Victory's counsel, William K. Vogeler of Gruenbeck & Vogeler, filed an opposition to Sharp's motion which included an interpretation of the agreement that was clearly contrary to its intent. Mr. Vogeler also represented Victory's failed attempt at the counter-suit / SLAPP suit.
Mr. Sharp commented, "Although I felt that I had discounted the total award that would have been due as a potential result of my lawsuit and Victory's responsibility for my legal costs, I entered into the Settlement Agreement, in good faith in order to try and save the shareholders any further grief. Unfortunately, the shareholders will now ultimately bear the brunt of my attempts to collect on this judgment and the Company's decision to rededicate itself to spending money on legal fees rather than the satisfaction of the settlement."
CONTACT: George Sharp Email Contact (310) 498-4455
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NEXA(.0007) Black Chandelier Outfits the Divas of the WWE(R) for Exclusive Timbaland & The Hives Video Apr 26, 2007 1:02:00 PM SALT LAKE CITY, April 26 /PRNewswire-FirstCall/ - Nexia Holdings, Inc. (OTC Bulletin Board: NEXA), a diversified holding company with operations in real estate, health & beauty and the fashion retail industry, announced today that Jared Gold, founder of Nexia's retail division Black Chandelier, was selected by the World Wrestling Entertainment, Inc. (WWE(R)), a NYSE traded company, to custom design outfits for six female WWE celebrities known as the Divas. Jared Gold custom designed outfits for the WWE Divas, who will be featured throughout the music video "Throw it on Me" by Timbaland and The Hives. The WWE.com site discussed the video shoot in the article "Diva's Shine in Jared Gold's designs," available at http://www.wwe.com/inside/news/jaredgold.
The exclusive world premiere of the video for "Throw it on Me" is scheduled to debut on WWE Monday Night Raw(R) ("WWE Raw") telecast on the USA Network on May 21, 2007. For the first quarter of 2007, WWE Raw dominated cable telecasts; among adults 18-49 years, individual episodes of WWE Raw accounted for eight of the top ten highest rated cable programs, according to Nielsen Media Research.
Nexia Holdings, Inc. CEO Richard Surber said, "The WWE is one of the world's most popular global entertainment companies, and a true innovator in launching superstars. When the WWE executives attended Jared Gold's runway show during Los Angeles' Fashion Week in March, they contacted Jared to design the Divas' clothes for the Timbaland and The Hives video."
Surber added, "This branding genius has evolved over 25 years into a multi-billion dollar company, and we hope to create a mutually beneficial relationship with the WWE that can lead to other merchandising and licensing opportunities."
Jared Gold, head designer of Black Chandelier said, "I was thrilled to be called upon by the WWE to create original costume designs that reflect the exuberant personalities, individual artistry, and smoldering appeal of the Divas, and I'm most happy to report the Divas were very pleased with the results."
About Nexia Holdings Inc.
Nexia Holdings Inc. (OTC Bulletin Board: NEXA), headquartered in Salt Lake City, Utah, is a diversified holdings company with operations in real estate, health & beauty, and fashion retail. The Company has been acquiring undervalued properties in the Salt Lake City area since the early 1990s. Nexia owns a majority interest in Landis Lifestyle Salon, http://www.landissalon.com, a hair salon built around the world-class AVEDATM product line. Through its Gold Fusion Laboratories subsidiary, Nexia owns the innovative retail and design firm Black Chandelier and its related brands. Black Chandelier is expanding nationwide, and currently operates four retail locations and online operations at http://www.blackchandelier.com . For more information, visit http://www.nexiaholdings.com .
Nexia strongly encourages the public to read the above information in conjunction with its Form 10-KSB for December 31, 2006. Nexia's Disclosures can be viewed at either http://www.nexiaholdings.com or http://www.sec.gov .
This press release reports information reported in our Form 10-KSB reported filed for the period ended December 31, 2007. This press release also contains forward-looking statements that are based on a number of assumptions, including the successful completion of the marketing plans and expansion of Gold Fusion Laboratories, Inc. operations in a short period of time. The above statements further assume that Nexia can obtain sufficient capital to execute expansion plans through outside investments including but not limited to obtaining significant leasehold improvements and sufficient lines of credit to fund the opening of additional Gold Fusion Laboratories, Inc. locations. There are no assurances that such assumptions will prove correct. These forward-looking statements involve a number of risks and uncertainties, including an expectation of substantial increase in sales. The actual results that Nexia Holdings may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.
FOR MORE INFORMATION, CONTACT: Richard Surber, President Nexia Holdings, Inc. 801-575-8073 x 106 RichardSurber*nexiaholdings.com
or
For Investor Relations: OTC Financial Network Rick McCaffrey 781-444-6100x625 rick*otcfn.com http://www.otcfn.com/nexa SOURCE Nexia Holdings Inc.
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SLJB(.025) Announces Updates on Recent Company Events Apr 26, 2007 2:34:00 PM LAS VEGAS, NV -- (MARKET WIRE) -- 04/26/07 -- Today a SLJB (PINKSHEETS: SLJB) spokesperson announced that the Company's CEO Steve Sulja will travel to Alberta on Monday, April 30, 2007. Mr. Mian Siddiq, the Company CFO will be accompanying Mr. Steve Sulja on his travels. Their agenda and goals for this trip are as follows:
1) To meet and discuss with area mill representatives and owners to negotiate metric dimensional lumber production for projected exports to foreign markets. 2) To negotiate pricing for North America operations. 3) To negotiate lease for new location in Calgary, AB. CEO Steve Sulja added, "There will be some management changes in the company effective as of the first of May, 2007. Mr. Ron Coates, who has been our Sales Manager at SLJB, has been promoted not only Sales Manager in our area, but now appointed General Manager for all SLJB operations."
Leslie Budway will continue her role in the company as our Credit Analysis Manager. In addition she will now take on the task of being or in-house Investor Relation Department. We have decided to do an in-house Investor Relation as opposed to have an outside firm in an attempt to preserve shareholder confidence. This route was decided based on the fact that many outside IR Firms that we contacted wanted to be paid in shares, not money. We did not feel that this was fair to our shareholders when they could possibly "pump and dump" SLJB shares, causing instability and uncertainty amongst our shareholders.
Finally we would like to announce that we have requested our lawyers and they have agreed to depart today for the Middle East, to meet with our lawyers and agents in the region, in attempt to complete long outstanding deals.
We continually thank our Shareholders for their continuous support.
Except for the historical information herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. When used in this press release, the words: believes, intends, anticipates, expects, predicts and similar expressions are intended to identify forward-looking statements. Actual results could differ materially from those expressed in, or implied by, the forward-looking statements based on a number of factors, including, but not limited to, costs, risks and effects of the on-going review by the Company, including the impact on the Company's ability to provide timely information as to the Company's business, operating results and financial condition; costs, risks and effects on the Company's business and the trading of its stock of legal proceedings and investigations, including the enforcement proceeding commenced by the OSC and the inquiry being conducted by the SEC; and the impact of the OSC order that trading in the Company's securities cease. Except as expressly required by the securities laws, the Company undertakes no obligation to update such factors or to publicly announce the results of any of the forward-looking statements contained herein to reflect future events, developments, or changed circumstances, or for any other reason.
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