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ASRNF(.028)Reports Fiscal 2006 Results MISSISSAUGA, Ontario, May 28, 2007 (PRIME NEWSWIRE) -- Astris Energi Inc. (OTCBB:ASRNF), an alkaline fuel cell (AFC) technology company, has filed its audited financial results for the twelve months ended December 31, 2006. All amounts below are in Canadian dollars unless otherwise indicated.
12-Month Financial Review
Revenue for the year ended December 31, 2006 was $85,915, compared with $291,512 for the previous year. The main source of revenue in 2006 was from the sale of a portable AFC generator, some fuel cells and related test equipment.
Expenses for the 2006 fiscal year totaled $2,206,337, compared with $5,622,376 for the same period in 2005. There was no technology write off in 2006 compared to a $1.5 million non-cash accounting write off of intangible technology asset in 2005. General and Administrative and marketing and business development expenses were lower, reflecting less stock option and warrant expensing. Business development and marketing costs were lower. Other expenses included increased accounting and legal expenses related to being a publicly traded company in the United States and increased costs associated with the debenture financing.
Astris reported a net loss for the year ended December 31, 2006 of $2,120,422 compared with a loss of $5,330,864 in 2005. On a per share basis, the loss was $0.05 (basic and diluted) compared with a loss of $0.16 (basic and diluted) in 2005.
For more detailed information, the Management Discussion and Analysis and complete audited financial statements can be found at www.sedar.com.
Due to the filing of these audited financial statements and management discussion and analysis, the management cease trade order issued by the Alberta Securities Commission on May 1, 2007 will expire effective May 30, 2007.
Any statements in this release that are not statements of fact may be considered "forward looking statements" as that term is defined under securities laws in the United States and Canada. Forward-looking statements are only predictions and may differ materially from actual events or results.
CONTACT: Astris Energi Inc. Anthony Durkacz, VP of Finance 905-608-2000
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TLBT(.055) Announces Milestone Agreement to Acquire Biodiesel Solutions 5/25/2007
Acquisition of Innovative Biofuels Company to Provide Unique Product, Expand IP Portfolio, Add Prominent Management and Accelerate Growth
SPARKS, Nev., May 25, 2007 (BUSINESS WIRE) -- Tech Laboratories, Inc. (OTCBB:TLBT), a biofuels company supplying the nation's growing need for energy independence, announced today that it has signed a letter of intent to acquire Biodiesel Solutions, Inc. (BSI). BSI manufactures the BiodieselMaster(R), a factory-built biodiesel processing plant that is appropriately scaled for a variety of customers, including small communities, farms, farm co-ops and trucking fleets.
The landmark acquisition furthers Tech Laboratories' stated mission to augment core operations and assets through opportunistic acquisitions of green technologies and products.
The BiodieselMaster is a community-scale biodiesel processing unit that is designed to produce 350,000 gallons of biodiesel per year. The design provides a biodiesel production system that is continuous, flexible, efficient, affordable, and fully-automated. The automated control system minimizes labor costs and facilitates remote diagnostics. Because the BiodieselMaster is small and self-contained, it is easy to set up with minimal infrastructure.
"Biodiesel Solutions is an ideal acquisition for Tech Laboratories for several compelling reasons that include proprietary technology, a management team known throughout the biofuels industry and an industry-disruptive product with a clear and potentially lucrative market," said John King, Chief Executive Officer of Tech Laboratories. "We are very excited to add BiodieselMaster to our product line and expect that it will contribute significant long-term value for shareholders."
BSI has spent more than two years developing the BiodieselMaster after identifying a compelling market niche. The BiodieselMaster uses exclusively-licensed technology as well as internally-developed intellectual property to process 1,000 gallons of feedstock per day into biodiesel.
"We feel confident that becoming a subsidiary of Tech Laboratories offers us tremendous opportunities for growth moving forward," said Rudi Wiedemann, Chief Executive Officer of Biodiesel Solutions, and a seasoned Silicon Valley executive. "We look forward to working with John and his team to begin making a considerable impact in the burgeoning industry for biofuels."
Based on Tech Laboratories' assessment of targeted customers, it is expected that feed-stocks can be grown on set-aside land, thereby enabling energy independence without disrupting the food chain. BSI has concluded six months of field trials which has demonstrated the unit's ability to meet ASTM fuel quality standards.
About Tech Laboratories
Tech Laboratories is an emerging greentech company closing the loop between modern consumerism and America's insatiable demand for energy. The Company is establishing its position in what many believe to be the largest economic opportunity of the 21st Century -- a sustainable solution to the world's $5 trillion addiction to oil consumption.
A key component of Tech Laboratories' high-growth business model is the augmentation of core operations and assets through strategic partnerships and opportunistic acquisitions in the burgeoning biofuels industry. The Company's management team and Board of Directors believes that increasing political and social responsiveness, combined with exciting developments in biofuel technology, has created an unprecedented environment for organic growth as well as growth through acquisitions.
The management of Tech Laboratories is establishing relationships with various biofuel entities with projects, products, and technologies at various stages of development. Each of these companies is in a business that meets Tech Labs' corporate mission. Tech Laboratories' management is actively negotiating strategic relationships as a means to continue building shareholder value. To learn more visit www.tech-laboratories.com and www.renewalfuels.com.
This press release includes statements that may constitute forward-looking statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, dependence upon third-party vendors, availability of capital and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
SOURCE: Tech Laboratories, Inc.
For Tech Laboratories, Inc., Sparks Financial Communications Trilogy Capital Partners Ryon Harms, 800-592-6067 ryon*trilogy-capital.com
Copyright Business Wire 2007
-------------------- The difference between genius and stupidity is that genius has its limits
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EPGL(.002) Disability Awareness Night at the Philadelphia Phillies 5/25/2007
PHILADELPHIA, PA, May 25, 2007 (MARKET WIRE via COMTEX News Network) -- On May 29, 2007, the Philadelphia Phillies, EP Global Communications, Inc. (OTCBB: EPGL), First Financial Group and CVS/pharmacy will welcome cheering fans to Citizens Bank Park for EP's Annual Disability Awareness Night (DAN). As part of this DAN event, just prior to the game, the EP Maxwell J. Schleifer Distinguished Service Award will be presented to the Riders' Club Cooperative and to Mike Drause and Mark Graham from the Gwynedd Mercy College chapter of Best Buddies. The award is presented by EP Global Communications, Inc. and EP Foundation for Education, Inc. EP Global Communications, Inc. publishes the nation's most highly respected journal serving the special needs community, Exceptional Parent. The EP Maxwell J. Schleifer Distinguished Service Award is named after the late founder and editor-in-chief of Exceptional Parent, a true advocate for people with special needs. On hand to present the award to the Riders' Club Cooperative will be Harris Fishman and Bruce Sham of Massachusetts Mutual Life Insurance Company's (MassMutual) First Financial Group, who nominated the Riders' Club Cooperative for this honor. On hand to present Mike Draus and Mark Graham with their awards will be Maureen Schmidt from CVS/pharmacy.
DAN is a national program intended to increase awareness and support for the 54.6 million Americans classified as having some form of intellectual or physical disability in the United States. The DAN Program, which now encompasses both Major League and Minor League baseball venues, is supported by the National Sponsor, MassMutual and their highly acclaimed SpecialCare(SM) program which helps parents and caregivers effectively integrate financial planning analysis into a thorough, customized life plan for people with disabilities and other special needs. MassMutual has been the exclusive financial services sponsor of DAN since 2003. The DAN Program is also supported in part by a CVS/pharmacy as part of their CVS All Kids Can program dedicated to serving the needs of children with disabilities. In addition to raising awareness, the DAN event provides an opportunity for many clients and staff of local disability organizations to attend the ballgame, thanks to free tickets donated by EP, the First Financial Group, and CVS/pharmacy.
"Our goal is to help all Americans understand that we will become a stronger nation and better human beings when we learn to regard people with disabilities and special needs as people to be respected, not as problems to be confronted," said Joseph M. Valenzano, President and CEO of EP Global Communications, Inc.
"At CVS we wholeheartedly believe that All Kids Can, and by participating in Disability Awareness Night we bring to light the importance of inclusion and respect for people of all abilities," said Maureen Schmidt, District Manager for CVS/pharmacy.
Disability Awareness Night began in the summer of 2002 when Exceptional Parent magazine combined forces with the New York Yankees and Boston Red Sox to create the first event of its kind focused on people with disabilities and special needs.
About EP Global Communications
Based in Johnstown, PA, 36-year-old, award-winning EP Global Communications, Inc. is an award-winning publishing and communications company providing information for families and professionals involved in the care and development of people with disabilities and special healthcare needs. EP uses a multi-media approach to disseminate information via its publication, Exceptional Parent; Web site (http://www.eparent.com); custom communications projects; the EP Bookstore of disability books, videos and DVDs; live and on-line interactive seminars through EPLiveOnLine, a joint venture with Vemics, Inc; and community outreach programs such as the national Disability Awareness Night (DAN) campaign.
About MassMutual Financial Group
MassMutual Financial Group is the fleet name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliates, with more than $450 billion in assets under management at year-end 2006. Assets under management include assets and certain external investment funds managed by MassMutual's subsidiaries.
Founded in 1851, MassMutual is a mutually owned financial protection, accumulation and income management company headquartered in Springfield, Mass. MassMutual's major affiliates include: OppenheimerFunds, Inc.; Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; MML Investors Services, Inc., MassMutual International LLC and The MassMutual Trust Company, FSB. MassMutual is on the Internet at www.massmutual.com.
About CVS/pharmacy
CVS/pharmacy, the retail division of CVS Caremark Corporation, is America's largest retail pharmacy with approximately 6,200 retail locations. CVS/pharmacy is committed to serving the healthcare needs of all customers by being the easiest pharmacy for customers to use, both in its stores and online at CVS.com. General information about CVS/pharmacy and CVS Caremark is available at http://www.cvs.com/pressroom, as well as http://investor.cvs.com.
Contact: Randy Newsome Director of Special Projects 201-248-4711 rnewsome*eparent.com Market News First Angela Junell 214-461-3411 ajunell****.com
Recent Mine-1-1 Satellite Simulcast Demonstration to Mine Safety and Health Administration Representatives Tuesday May 29, 9:30 am ET
VANCOUVER, BC--(MARKET WIRE)--May 29, 2007 -- iPackets International, Inc. ("iPackets" or "Company") (Other OTC:IPKL.PK - News), a developer and provider of wireless communications software and equipment for the mine-safety industry, confirmed today that the recent successful Mine-1-1 underground demonstration was viewed live, via a satellite simulcast, by representatives of the Mine Safety and Health Administration ("MSHA"). ADVERTISEMENT
MSHA is part of the U.S. Department of Labor and its mission is to administer the provisions of the Federal Mine Safety and Health Act of 1977, and to enforce compliance with mandatory safety and health standards as a means to eliminate fatal accidents; to reduce the frequency and severity of nonfatal accidents; to minimize health hazards; and to promote improved safety and health conditions in the Nation's mines.
Utilizing the satellite uplink capability of the MobileNet(TM) product, a component of the Mine-1-1 offering, the demonstration was simultaneously transmitted live from a coal mine to the National Mine Health and Safety Academy offices in Beckley, West Virginia. MSHA representatives, in the Beckley office, viewed the underground movement of the miners and the capability of real-time messaging.
"This is by far one of our best product demonstrations we've conducted in the history of our company," says Naiel Kanno, president and chief executive officer for iPackets. "We have set the bar very high for competitors to match the feature-rich Mine-1-1 capability and demonstrate it effectively."
Hugh McDavid, President of Mainline Communications, Inc., who was present at the remote demonstration, said, "Not only did the demonstration show definitively that the Mine-1-1 solution provides real-time tracking and monitoring of miners as they move about the mine, as well as two-way voice and data communication with the miners, the remote viewing of the demo showcased the unparalleled flexibility of the system. Nothing else on the market compares with this technology."
"This was a home run! The Mine-1-1 solution was very adaptable to the environment that it was deployed in and performed great," stated Miner Lawrence, Director of Project Management and Advanced Solution Systems for AFL Network Services. "Within a few hours we deployed the wireless network, monitored the team below ground, and demonstrated other advanced services over the network without any problems."
Mr. Lawrence also stated that it was a great team effort. "I'm very proud to be a part of something that will assist with making a safer work environment for the mine workers. It's amazing when you stop to think about everything that took place -- you can see the excitement in the faces of the mine workers standing by."
About The Mine-1-1 Product Offering
The Mine-1-1 product offering, targeted for the U.S. mining industry, is a partnership between iPackets, North Carolina-based AFL Network Services' Enterprise Division (a wholly owned subsidiary of Japanese conglomerate Fujikura, Ltd. www.fujikura.co.jp), and Kentucky-based Mainline Communications. The Mine-1-1 product offering consists of iPackets' iPMine mine-safety product, AFL Network Services' MobileNet(TM) product, network design, and integration, and Mainline's sales and marketing expertise, communications installation and deployment services. Mainline is also the exclusive distributor for AFL Network Services' MobileNet(TM) product in the mining industry. For more information on the partners, visit www.AFLnetwork.com,www.AFLmobilenet.com, and www.mainlinecomm.com.
About iPackets International, Inc. and iPMine
iPackets International is a developer and provider of wireless communications software and equipment for the global mine-safety industry. iPMine, the Company's flagship product designed to significantly improve the safety of miners and equipment, is a real-time two-way wireless communications solution that tracks, monitors, and communicates with miners and equipment underground and above ground. For more information, visit www.ipackets.com.
iPackets International, Inc. is currently featured at AudioStocks, where a profile and other information may be obtained by visiting http://www.audiostocks.com.
Certain statements included in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations.
Contact: Contact: Mr. Naiel Kanno President and CEO iPackets International, Inc. 1 (778) 328-9005
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