QTCE (.0016)Obtains Status of Prospective Anheuser-Busch Supplier >LONDON, Aug. 18, 2006 (PRIMEZONE) -- Quantech Electronics Corp. (Pink Sheets:QTCE), software developer for marketing communications, announced today that Quantech has been approved as a prospective supplier to Anheuser Busch (http://www.anheuser-busch.com).
Anheuser-Busch, world leader in diverse operations including beer, adventure park entertainment and packaging, approved prospective supplier status for Quantech after a thorough examination of the company's services and capabilities. Anheuser-Busch also has interests in aluminum beverage container recycling, malt production, rice milling, real estate development, turf farming, metalized paper label printing and transportation services.
"This is a promising step forward for Quantech and will have a significant effect on its recent penetration efforts of the new friction-free marketing system, as well as expanded growth for its other developments. Being selected as a supplier of such a powerful global company as Anheuser-Busch definitely is an outstanding source of business potential for Quantech and its development," says Liat Matilsky, CEO of Quantech.
About Quantech
Quantech Electronics Corp. is a web-based software development company based in the U.K., that offers development services focusing on web-based desktop communication tools, call center support tools, and development packages designed to enhance the effectiveness of web-based advertising and instant messaging. Quantech Electronics Corp. develops powerful, easy-to-use software that enhances the effectiveness and efficiency of its customers' online and offline businesses. Driven to provide comprehensive solution packages for their clients' entire online business needs, Quantech focuses on customized developments for medium to large businesses, as well as start-ups. Offering several unique technologies and forged notable strategic alliances, Quantech's rapid-response systems construct client infrastructure at competitive prices. The company's client base includes medium to large sized businesses, as well as start-ups.
Forward-Looking Statements
Certain statements in this news release may contain 'forward-looking' information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward-looking statements that may involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.
TLPE (.169) CORRECTION - TelePlus Q2 Sales Reach $6.5M, Operating Income $247k and Operating Cash Flow $1.6M, Setting the Pace fo YTD Sales Now Reach $13.2M and Operating Income $511k
MONTREAL -- (MARKET WIRE) -- 08/18/06 -- TelePlus Enterprises, Inc. (OTCBB: TLPE) (FRANKFURT: YT3) (http://www.teleplus.ca) ("TelePlus" or the "Company") In a press release issued on August 15, 2006 by TelePlus, under the Condensed Consolidated Statements of Operations and Accumulated Other Comprehensive Income (Loss) for the Six and Three Months Ended June 30, 2006, the General, Administrative and Selling fields should read as follows:
TELEPLUS ENTERPRISES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
FOR THE SIX AND THREE MONTHS ENDED JUNE 30, 2006 AND 2005
(UNAUDITED)
IN US$
SIX MONTHS ENDED THREE MONTHS ENDED
JUNE 30, JUNE 30,
2006 2005 2006 2005
------------ ----------- ----------- ----------
(Restated) (Restated) GENERAL, ADMINISTRATIVE AND SELLING 4,768,964 647,545 2,362,769 415,419
All other fields, including Total Operating Expenses, Total Revenues and Operating Income remain unchanged.
TelePlus Enterprises, Inc. ("TelePlus") is a diversified North American telecommunications company with offices in Miami, Florida; Cleveland, Ohio; Montreal, Quebec; and Barrie, Ontario. TelePlus was founded in 1999 and it has since become a leading provider of wireless and telecommunications products and services across the U.S.A. and Canada. In October 2003, TelePlus became a publicly traded Company on the OTCBB under the symbol TLPE and since then it has continued to grow organically and through strategic acquisitions. The company's wholly-owned subsidiaries include TelePlus Wireless, Corp. which operates a prepaid MVNO (Mobile Virtual Network Operator) under the Liberty Wireless brand; Maximo Impact, Corp. which operates a pay-as-you-go MVNO under the MX Mobile brand and TelePlus Connect, Corp. which resells landline, long distance and internet services under the Telizon, Freedom and Liberty brands. The company's websites include http://www.libertywireless.com,http://www.vivaliberty.com,http://www.maximoimpact.com and http://www.telizon.biz among others.
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development and acquisition of new product lines and services, government approval processes, the impact of competitive products or pricing from technological changes, the effect of economic conditions and other uncertainties, and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. TelePlus Enterprises, Inc. takes no obligation to update or correct forward-looking statements.
Contact:
TelePlus Enterprises, Inc. Investor Relations & Corporate Communications 866-699-3388 ext 222 investorrelation*teleplus.ca
Posted by J_U_ICE on :
MIVT (.575) Files Three New US Patents for Breakthrough Stroke-Preventing Technology from SagaX Subsidiary; Compan Business Editors / Health/Medical Writers
ATLANTA--(BUSINESS WIRE)--Aug. 18, 2006-- MIV Therapeutics (OTCBB:MIVT) (FWB:MIV), a leading developer of next-generation biocompatible coatings and advanced drug delivery systems for cardiovascular stents and other implantable medical devices, has announced that its subsidiary, SagaX, has filed three new patents with the U.S. Patent Office related to a proprietary implantable filtration device designed to help prevent common stoke complications during and after a range of common invasive heart procedures.
SagaX is developing the Aortic Embolic Stroke Protection device (AEPD). It is designed to be implanted during invasive heart procedures and the technology may also have broad preventative applications during many minimally invasive alternatives to surgery. It may also have further applications for long term use in patients who suffer from diseases that put them at greater risk for stroke such as atrial fibrillation. The market for AEPD is estimated to exceed $1.5 to $1.8 billion by 2009.
"These patents represent significant milestones that further extend MIVT's leadership in this very important area of emerging medical technology," said Dr. Mark Landy, President of MIVT. "Strokes are devastating to so many patients and families, and their prevention would help millions of cardiac patients and doctors worldwide."
According to a recent publication of the American Heart Association (AHA), each year about 700,000 Americans experience a new or recurrent stroke. It is estimated that the direct and indirect cost of stroke in the U.S. alone now total $57.9 billion annually.
The three recent SagaX patent applications cover different types of filtration device configurations and the use of different filtration technologies. These include designs and systems to position the device within the aorta below the carotid arteries and very importantly systems to retrieve the embolic protection devices via a catheter after several weeks or months. These systems will enable physicians to use the devices for many types of procedures, giving them the flexibility to either remove the device or leave it in situ (implanted).
"We continue to see an improvement in refinements and performance of this groundbreaking device that we believe will greatly reduce complications related to stroke following cardiac surgery," said Dr. Dov Shimon, Chief Medical Officer of MIVT, who founded SagaX and leads it. "Our latest refinements are designed to enable significant improvements in the device's flexibility, expanding their range of medical applications."
MIVT's wholly-owned subsidiary SagaX develops proprietary solutions to prevent imminent stroke and other common and serious complications that can result from cardiac procedures, in addition to naturally occurring cardio-embolic strokes. SagaX R&D center is located in Herzliya, Israel. The activity was not affected by the hostilities in the region. SagaX is in the process of developing other proprietary developments in the arena of neurovascular interventions and brain protection. Stroke is the third leading cause of death and the leading cause of disability in the world.
The SagaX Aortic Embolic Protection Device (AEPD) is placed in the aorta -- the main artery that send blood to the brain arteries -- to filter and capture embolic particles that can cause strokes. The filtration is designed to prevent the embolic particles, mostly blood clots, from traveling in the direction of the patient's brain. If emboli reach the brain, they will cut off blood flow, triggering strokes in minutes. Such emboli are one of the chief causes of strokes.
About MIV Therapeutics Inc.
MIV Therapeutics is developing a next-generation line of advanced biocompatible coatings for passive and drug-eluting applications on cardiovascular stents and a broad range of other implantable medical devices. The Company's ultra-thin coating formulation is designed to protect surrounding tissue from potentially harmful interactions with bare metallic stents. The Company's unique ultra-thin coating platform is derived from an organic material called hydroxyapatite (HAp) which has demonstrated excellent safety and biocompatibility in vivo animal studies. Hydroxyapatite is a bioactive porous material that makes up the bone mineral and matrix of teeth and is used today as a bone substitute material and for coatings on implantable fixation devices in orthopedic, dental and other applications. The Company's novel polymer-free drug eluting technologies based on Hydroxyapatite could also provide an alternative to current polymer-based drug eluting coatings on the stent market, which have been associated with undesirable severe medical effects. The Company's drug eluting coatings are additionally designed to suit a broad range of implantable medical devices that could benefit from highly customizable drug release profiles. MIVT has a Collaborative Research Agreement (CRA) with the University of British Columbia under the National Research Council-Industrial Research Assistance Program (NRC-IRAP). Under this sponsorship, the Company is expected to complete its drug-eluting research and development program and to reach product commercialization stage. For more information, please visit http://www.trilogy-capital.com/tcp/mivt/website.html. To read or download MIV Therapeutics' Investor Fact Sheet, visit http://www.trilogy-capital.com/tcp/mivt/factsheet.html. To obtain daily and historical Company stock quote data, and recent Company news releases, visit http://www.trilogy-capital.com/tcp/html/mivt.htm. MIVT is traded on the Frankfurt, Germany, stock exchange under the symbol MIV.
Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Such statements are indicated by words or phrases such as "believe," "will," "breakthrough," "significant," "indicated," "feel," "revolutionary," "should," "ideal," "extremely" and "excited." These statements are made under "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See the Company's filings with the Securities and Exchange Commission including, without limitation, the Company's recent Form 10-K and Form 10-Qs, which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
KEYWORD: NORTH AMERICA GEORGIA UNITED STATES INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY MEDICAL DEVICES PRODUCT/SERVICE SOURCE: MIV Therapeutics Inc.
CONTACT INFORMATION: MIV Therapeutics Inc. Investor Relations, 604-301-9545 x14 Toll-free: 800-221-5108 Fax: 604-301-9546 investor*mivtherapeutics.com http://www.mivtherapeutics.com/ or for Product Inquiries and Business Opportunities: Arc Rajtar, 604-301-9545 Ext. 22 arajtar*mivi.ca or Trilogy Capital Partners Paul Karon, Toll-free: 800-592-6067 paul*trilogy-capital.com
Posted by J_U_ICE on :
CPKJ (.50)Finalizes Agreement to Acquire Inversion Solida Mexico Forward Stock Split, Name Change, and Symbol Change Planned
DALLAS, TX -- (MARKET WIRE) -- 08/18/06 -- Choicepoker.com Inc. (PINKSHEETS: CPKJ) (the "Company" or "Choicepoker.com") is pleased to announce that it has executed final agreements to acquire 99% of the issued and outstanding shares of Inversion Solida Mexico S. de R.L. de C.V.
Inversion Solida Mexico S. de R.L. de C.V. ("Inversion"), through its subsidiary CanMex Imports S.A. ("CanMex"), is the exclusive distributor of a premium line of alcoholic beverages throughout Mexico. CanMex maintains head offices in Puerto Vallarta, a centrally located distribution warehouse, offices in Mexico City, and a sales and sub-distribution warehouse in Cancun.
In conjunction with the acquisition of Inversion, the board of directors and majority shareholders of Choicepoker.com have approved a share dividend of 24 shares for each share currently held, giving the effect of a 25 for 1 forward split, with the new shares being distributed to its shareholders within the next 30 days, pending the Company's notification to NASDAQ. Choicepoker.com will also change its name to "Viva World Trade, Inc." to more closely reflect the company's corporate identity with its new business direction. A new trading symbol and CUSIP will also be issued.
Under the terms of the acquisition agreement, Chiocepoker.com will issue 42 million post split shares of Choicepoker.com to the current shareholders of Inversion.
Current stockholders will not be required to turn in their Chiocepoker.com stock certificates for new certificates. However, current stockholders who desire to exchange their stock certificates for certificates that have the new corporate name and CUSIP number may do so at their expense, by contacting the company's transfer agent, Securities Transfer Corporation, at (469) 633-0101.
Disclaimer: Portions of this press release include "forward-looking statements", which may be understood as any statement other than a statement of historical fact. Forward-looking statements contained in this press release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary materially from management's expectations and projections expressed in this press release.
For further information, contact:
ChoicePoker.com Inc. Jason Freeman Tel: (214) 682-1693
Posted by weatherbill on :
TCLL just came out with Q-10....
massive revs...... .07 EPS basic and diluted
look at this comparison
Check out CELL vs TCLL CELL 2.1B rev 10M Net Income 810M Market Cap PPS $16+
TCLL (projected based on 1st 6 Months) 1.5 B rev 13M Net Income 30M Market Cap PPS .30
Posted by J_U_ICE on :
GFCI (.155) Closes Deal on Merger and Master Plan of Asset Roll-Up With OTC Bulletin Board Company
HOUSTON, TX -- (MARKET WIRE) -- 08/18/06 -- Grifco International, Inc. ("Grifco" or the "Company") (PINKSHEETS: GFCI) is pleased to announce that it has closed the first-round deal documents to merge with the targeted OTC Bulletin Board company following meetings of the respective executive officers in Las Vegas, NV.
Jim Dial stated, "We worked all day Thursday and Friday in Las Vegas to complete the deal documents with our corporate counsel. We are pleased to have completed this important milestone for the benefit of our shareholders. There is a lot of hard work ahead of us and we ask our shareholders to understand the importance of becoming part of a reporting company with the Securities and Exchange Commission where information must be filed in advance with regulatory authorities after approval of securities counsel and auditors. This is not only good business practice, but it is mandated under Sarbanes-Oxley and the rules of the SEC."
Mr. Dial continued, "One of the first orders of business was to form a new wholly owned subsidiary as part of a triangular merger in a tax free exchange of shares. We further explored venues for our up-coming shareholders meeting. Further details about the shareholders meeting will be forthcoming.
"After meeting with our securities counsel, we were advised that the merger company must file an 8-K announcing a 'material event' together with details of the merger terms within the time prescribed by the SEC. A Form 14A proxy statement will then be filed with the SEC in the same time period and mailed to its shareholders to approve the deal and certain other corporate organizational matters. The merger company will use the services of a proxy agent to handle communications with its shareholders.
"Our next step will be to meet with our investment bankers in San Francisco, CA next week with respect to capital structure post merger and details of how best to finance our targeted acquisitions pursuant to our roll-up strategy."
About Grifco International, Inc.
Grifco International is a leading provider of oil and gas services equipment, specializing in the conception, architecture, and development of tools for the coil tubing, wire line, and snubbing industries throughout the United States, China, Mexico, South America, the Middle East and Africa. Grifco holds and owns design rights and manufacturing facilities for producing more than 6,000 products for the oil and gas industry with more than 150 clients, boasting the biggest names in the business, including Halliburton , Exxon Mobil Corp, and Schlumberger. For more information, please visit: http://www.grifco.org.
Forward-Looking Statements
Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.
Contact: Chicago Investor Relations LLC 312.238.9875
Posted by djg7 on :
NHLG .031
National Healthcare Logistics and Pioneer Medical Sign Joint Marketing and Services Agreement
By Market Wire Last Update: 8/18/2006 9:35:46 AM Data provided by
CLEVELAND, TENNESSEE, Aug 18, 2006 (MARKET WIRE via COMTEX) -- National Healthcare Logistics, Inc. (PINK SHEETS: NHLG) today announced that the company has inked a joint marketing and services agreement with Pioneer Medical, Inc., (PMI), headquartered in Nashville, TN. Pioneer Medical, Inc., a provider of movable medical equipment on a "as needed basis" to the healthcare market since 1981, offers a variety of services to acute care and alternate site facilities. Pioneer Medical specializes in Adult and Infant Ventilator rentals and Wound Care equipment.
NHCL's president, Joe Smith, said that PMI is the first of several service companies that NHCL intends to sign as a partner with its HUB & SPOKE Projects around the country. The agreement calls for joint marketing efforts, but also joint venturing of services to Integrated Healthcare Providers (multi-hospital and clinic systems) that are customers for NHCL's HUB & SPOKE Program. This very important step takes NHCL closer to creating its SPOKE Division according to NHCL management. PMI and NHCL to begin by working together in specified hospital systems where NHCL is actively engaged in delivering its cost containment services.
According to Smith, "National Healthcare Logistics provides a State-of-the-art logistics model for Integrated Healthcare Providers in the US, and PMI can play a major role in increasing the impact of NHCL's logistics model on the specific hospital systems involved." Smith said that PMI provides unique asset management services in respiratory services, specialty therapeutic surfaces for wound care, and other specialty services. In order to increase the number of services provided through NHCL's logistics model, we need quality services provided by good partners like PMI. And, this partnership will benefit both companies from the exposure of the combined marketing efforts." Concluded Smith.
About National Healthcare Logistics, Inc.
National Healthcare Logistics, Inc. was launched in 1997 as a company promoting a new design for the healthcare supply chain. NHLG is a service provider to multi-hospital systems commonly referred to as Integrated Healthcare Delivery Networks or "IDN". The first "logistics model" for IDN concentrated on reengineering the flow of all routinely purchased supplies by setting up a dedicated distribution facility that became the sole source of such supplies for the IDN healthcare facilities. By so doing, NHLG provided a vehicle that made supply replenishment vastly more efficient and provided cost cutting opportunities that were thought unattainable. LeeSar was the very first project for NHLG, beginning back in 1998, and continuing its mission to the current day to serve its prestigious hospital systems or IDN that created LeeSar in 1998. LeeSar is a cooperative owned by Lee Memorial in Fort Myers and Sarasota Memorial in Sarasota.
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21 E of the Securities Act of 1934, as amended; such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by National Healthcare Logistics, Inc., (the "company"), as well as those contained herein, that are not historical facts are "forward-looking" statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, and because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements, including those in Management's Discussion and Analysis, are statements regarding the intent, belief, or current expectations, estimates, or projections of the company, its directors, or its officers about the company and the industry in which it operates and are based on assumptions made by management. Forward-looking statements include without limitation statements regarding: (a) the company's strategies regarding growth and business expansion, including future acquisitions; (b) the company's financing plans; (c) trends affecting the company's financial condition or results of operations; (d) the company's ability to continue to control costs and to meet its liquidity and other financing needs; (e) the declaration and payment of dividends; and (f) the company's ability to respond to changes in customer demand and regulations. Although the company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions are generally intended to identify forward-looking statements.
Important factors that could cause the actual results to differ materially from those in the forward-looking statements include, among other items, (i) changes in the regulatory and general economic environment; (ii) conditions in the capital markets, including the interest rate environment and the availability of capital; (iii) changes in the competitive marketplace that could affect the company's revenue and/or cost and expenses, such as increased competition, lack of qualified marketing, management or other personnel, and increased labor and inventory costs; (iv) changes in technology or customer requirements, which could render the company's technologies noncompetitive or obsolete; (v) new product introductions, product sales mix, and the geographic mix of sales. The company disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this advertisement are forward-looking statements that involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, governmental approval processes, the impact of competitive products or pricing, technological changes, and the effect of economic conditions.
SOURCE: National Healthcare Logistics, Inc.
Posted by J_U_ICE on :
SAN DIEGO, Aug 18, 2006 (PRIMEZONE via COMTEX News Network) -- Execute Sports, Inc. (OTCBB:EXCS) reported today financial results for the quarter ended June 30, 2006. Todd Pitcher, President, commented that, "We are pleased to see the strengthening of our gross margins on a quarter over quarter, and year over year basis, increasing by approximately 50%. Our sales results in the water sports line were slightly lower for the period due primarily to changes in shipping and ordering charges from a key customer and don't reflect a decrease in sales quantities, and we expect to see vest, wetsuit and rash guard sales over the next season accelerate as we move from test orders to more material orders from several new key accounts that we gained this past season."
Sales for the three months ended June 30, 2006 and 2005 were $506,990 and $580,498, respectively, representing a $73,508 or 12.7% decrease, while sales for the six months ended June 30, 2006 and 2005 were $1,102,524 and $1,258,893, respectively, representing a $156,369, or 12.4% decrease on a year over year basis. The decrease in sales for the period is primarily due to a cessation of the Company's moto graphics line and due to changes in a particular customer's ordering of water sports products, eliminating upcharges for shipping.
Gross margin for the three months ended June 30, 2006 and 2005 was $152,898, or 30.2% and $119,574, or 20.6%, respectively. The $33,324 increase in gross margin over the previous year was primarily due to the decrease in shipping costs related to a significant water sports customer and more favorable product costs for the quarter.
Gross margin for the six months ended June 30, 2006 and 2005 was $270,490, or 24.5% and $378,663, or 30.1%, respectively. The $108,173 decrease in gross margin over the previous year was primarily due to higher raw materials prices for rubber products as a consequence of rising oil prices, a reduction in first quarter selling prices to a key account as an adjustment for deferred freight charges, substantial purchase orders from a key account were not received in the first quarter as in the previous year which were received in the second quarter, and higher first quarter costs due to our inability to purchase goods in larger quantities.
Selling, General and Administrative expenses for the three months ended June 30, 2006 and 2005 was $1,035,392 and $2,629,655, respectively, representing a $1,594,263 decrease. Selling, General and Administrative expenses for the six months ended June 30, 2006 and 2005 was $1,968,368 and $2,841,970, respectively, representing a $873,602 decrease. The three and six month year-over-year decrease was the result of a decrease in stock based compensation for professional services and key employees offset by increased professional costs related to being publicly traded, and higher sales and marketing costs compared to the same period in the prior year.
Net loss for the three months ended June 30, 2006 and 2005 was $1,037,323 and $2,514,601, respectively. Net loss for the six months ended June 30, 2006 and 2005 was $1,861,944 and $2,518,983, respectively. The net loss decreased for the three and six month periods by $1,477,278 and $657,039, respectively. The decrease in the net loss is due primarily to a decrease in stock based compensation for professional services and key employees offset by lower sales and higher costs related to being publicly traded.
Todd Pitcher added that, "We have added several key accounts this past season for our water sports line including Boater's World, Marine Max, Big 5 and online as well through GSI Commerce which brings us into Sport Chalet, Dick's Sporting Goods and the Sport Authority. In addition, through the purchase of Pacific Sports Group last January, we will now be able to add wake skates and footwear to our water sports programs this next season under the Kampus and Execute brands so we think the Company is extremely well positioned for growth. We have now moved out of water sports sales and are entering the snow sports season and are looking forward to demonstrating continued strong growth in snowboard sales both domestic and international with the Academy Snowboard Co. brand. Results from sales from this segment will begin to be reflected in the third quarter financial reports through the first quarter of 2007."
Highlights for the quarter included:
-- Announcement of test order for vests at Big 5 Sporting Goods. -- Increase in sales orders for Academy Snowboards by 98% on a year-over-year basis in Japan and by approximately 181% in Europe (Note -- Snowboard sales orders are not reflected in financial results for the periods reported in the three and six months ended June 30, 2006) -- Established online sales presence for water sports products with GSI Commerce bringing the Execute brand to several key online accounts including Dick's Sporting Goods, Sport Chalet and The Sports Authority.
About Execute Sports, Inc.
Based in San Clemente, California, Execute Sports, Inc. develops performance products including wetsuits, vests, rash guards, snowboards, wakeskates, bindings, bags and apparel for the action sports industry. The Company's brands include Execute Wetsuits, Academy Snowboards, Kampus Wakeskates and Kampus Shoes, Collective Development Bindings and Collective Development Bags. In addition, Execute has an exclusive worldwide license to design, produce and distribute EagleRider apparel through EagleRider's 35 franchises and through the Company's eCommerce site, http://www.eagleridergear.com. For more information, go to http://www.executesports.com and http://www.academysnowboards.com.
Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include expectations regarding the ability of the company to continue its growth and the financial performance thereafter. These statements involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this release. These risks include the ability to accomplish goals and strategies, anticipated revenue enhancements, general economic conditions and the level of consumer spending, and numerous other factors identified in the Company's Form 10-KSB and other filings with the Securities Exchange Commission.
Execute Sports Todd M. Pitcher (858) 518-1387 Todd.pitcher*executesports.com
(C) 2006 PRIMEZONE, All rights reserved.
Posted by J_U_ICE on :
NCTI(.003) Reports Second Quarter Results 8/18/2006
WESTPORT, Conn., Aug 18, 2006 (BUSINESS WIRE) -- NCT Group, Inc. (OTCBB: NCTI) reported that total revenue for the three months ended June 30, 2006 was $0.5 million compared to $0.8 million for the same period in 2005. The $0.3 million decrease in revenue was primarily due to an expected reduction in royalties resulting from the discontinuation of a customer's product on which one of our ClearSpeech algorithms was platformed. Net loss for the three months ended June 30, 2006 was $8.2 million compared to a net loss of $21.2 million for the same period a year ago. The $13.0 million decrease in net loss was primarily due to reductions in non-operating items.
The company reported that total revenue for the six months ended June 30, 2006 was $1.5 million compared to $2.5 million for the same period in 2005. In addition to the above noted reduction in ClearSpeech-related royalties in 2006, the 2005 results included $0.5 million of previously deferred NXT royalties which were fully recognized as of June 30, 2005. Net loss for the six months ended June 30, 2006 was $22.1 million compared to a net loss of $41.1 million for the same period in 2005. The $19.0 million decrease in net loss was primarily due to reductions in non-operating items.
About NCT Group, Inc.
NCT Group, Inc. is an innovative, high-technology development company rich in intellectual property with hundreds of patents and related rights. The Company is strategically focused on communications initiatives through its subsidiaries, Artera Group, Inc., a developer of software-based network optimization solutions for service providers as well as small business, enterprise and government networks; Pro Tech Communications, Inc. (OTCBB: PCTU), a manufacturer of audio and communications solutions and other products for business users, industrial users and consumers; and NCT (Europe) Ltd., a developer of noise and echo cancellation algorithms for 3G phones, hands-free car kits, "drive thru" intercoms, Formula 1 and NASCAR radio systems, business intercom products and radio communication devices. For more information visit www.nctgroupinc.com.
NCT GROUP, INC. (Unaudited) For The Three Months For The Six Months Ended June 30, Ended June 30, --------------------- ----------------------(In millions, except per share data) 2005 2005 (As Restated) 2006 (As Restated) 2006 ------------- ------ ------------- -------Total revenue $ 0.8 $ 0.5 $ 2.5 $ 1.5Operating costs and expenses $ 3.3 $ 3.1 $ 5.7 $ 6.0Non-operating items $ 18.8(a) $5.6(b) $ 37.8(c) $17.6(d)Net loss $ (21.2) $ (8.2) $ (41.1) $ (22.1)Net loss per share $ (0.03) $(0.01) $ (0.06) $ (0.03)Weighted average common shares outstanding 645.0 906.5 645.0 872.7Footnotes:(a) Includes $15.2 million for interest expense and $1.8 million for penalties and other costs associated with our financing activities.(b) Includes $6.3 million for interest expense and $2.1 million for penalties and other costs associated with our financing activities.(c) Includes $33.3 million for interest expense and $6.1 million for penalties and other costs associated with our financing activities.(d) Includes $15.5 million for interest expense and $9.6 million for penalties and other costs associated with our financing activities. Cautionary Statement Regarding Forward-Looking Statements
Statements in this press release that are not historical are forward-looking. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially, including but not limited to: NCTI's ability to generate sufficient funds to execute its business plan; its ability to obtain additional financing if and when necessary; its ability to repay or refinance indebtedness as it becomes due; the results of litigation; general economic and business conditions; the level of demand for NCTI's products and services; the level and intensity of competition in the technology industry; NCTI's ability to develop new products and the market's acceptance of those products; and its ability to manage its operating costs effectively. These forward-looking statements speak only as of the date of this press release. NCTI undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. These and other factors affecting NCTI's business and prospects are discussed in greater detail in NCTI's filings with the Securities and Exchange Commission, which are available online in the EDGAR database at http://www.sec.gov.
Copyright Business Wire 2006
Posted by J_U_ICE on :
NSATF 0.57
Norsat Posts Q2 2006 Results 8/18/2006
VANCOUVER, BC, Aug 18, 2006 (MARKET WIRE via COMTEX News Network) -- Norsat International Inc. (TSX: NII) (OTCBB: NSATF) today reported second quarter sales of $3.76 million, gross margins of 47% and a net loss of $1.07 million. For the same period last year, the Company reported sales of $6.16 million, gross margins of 50% and a net loss of $1.24 million.
Sales for the six months ended June 30, 2006 were $6.68 million as compared to $8.67 million in the same period last year. For the six-month period ended June 30, 2006, sales generated by the Microwave Business Unit were $4.23 million, compared to $3.88 million last year. The Satellite Systems business unit meanwhile, reported sales of $2.45 million, compared to $4.79 million for the same period last year.
Total operating costs for the six-month period ending June 30, 2006 were $5.57 million, down from $5.75 million for the same period last year. Of those costs, selling, general and administrative expenses decreased by $0.28 million to $4.22 million, due to a reduction in salaries and consulting fees. Production development expenses meanwhile, increased by $0.15 million to $1.06 million due to larger purchases of materials related to the GLOBETrekker. Amortization costs for the period decreased to $0.28 million from $0.33 million as an increasing number of the Company's assets have now been fully amortized.
The increase in the net loss from $2.43 million, compared to the same six-month period last year of $2.85 million, was attributable, in part, to a lower level of sales of satellite systems, and an increase in research and development expenses related to the GLOBETrekker. The increase of these research and development costs was partially offset by a decrease in sales, general and administrative costs and the impact of the modification in the conversion price of the long-term debt.
The Company has recently become aware that certain disclosures designed to reconcile Canadian GAAP to United States GAAP in Note 22 "Reconciliation to United States accounting principles" to the 2005 Consolidated Financial Statements may be misstated. The effects, if any, arising from this matter are currently undergoing an in-depth review by management. Depending on the results of management's procedures, the 2005 Consolidated Financial Statements may be restated. The outcomes of these procedures cannot be predicted at this time. The Company will announce the results of these procedures as soon as they are completed.
Forward-Looking Statements
Statements in this report relating to matters that are not historical fact are forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to, general economic conditions, changes in technology, reliance on third party manufacturing, managing rapid growth, global sales risks, limited intellectual property protection and other risks and uncertainties described in Norsat's public filings with securities regulatory authorities.
About Norsat International Inc.
Norsat International Inc. designs, engineers and markets intelligent satellite solutions for high-speed data transmission. For more than 25 years, Norsat has built a strong reputation in the field of satellite technology by providing its customers with innovative products. Norsat's latest innovations include the Norsat OmniLink(TM) and GLOBETrekker(TM) lines of portable satellite terminal products that provide rapidly deployable broadband satellite data and video connectivity in areas where traditional communications infrastructure is insufficient, damaged, or non-existent. Additional information is available at www.norsat.com.
Distributed by Filing Services Canada and retransmitted by Market Wire
Additional investor information is available through: Email: communications_investorrelations*Norsat.com Phone: 1-604-292-9000 Toll-free in Canada and the U.S.: 1-888-667-7281.
Copyright 2006 Market Wire, All rights reserved.
Posted by J_U_ICE on :
NVSRF 0.27
Nevada Star Resource Corp.: Man Alaska Project Area 1 8/18/2006
SEATTLE, WASHINGTON, Aug 18, 2006 (MARKET WIRE via COMTEX News Network) -- Nevada Star Resource Corp. (TSX VENTURE: NEV)(OTCBB: NVSRF) (the "Company" or "Nevada Star") Robert Angrisano, President and CEO of Nevada Star Resource Corp. announced today that Anglo American Exploration (USA), Inc. (AAEUS) has notified the Company of its intention to withdraw from the Exploration, Development, and Mine Operating Agreement with the Company on Area 1 of the MAN Alaska Project, effective September 14, 2006.
Over the past two years, AAEUS has spent in excess of US $3 million on exploration programs in Area 1. Work funded by AAEUS has included geophysical, geochemical, and a limited drill program (approximately 10,281 feet). Area 1, which encompasses 132,080 acres, consists of 2 main sections: Fish Lake (approx. 22 miles long and 2 miles wide) and Dunite Hill (approx. 12 miles long and 6 miles wide). AAEUS's drill program concentrated on a small section of the Fish Lake intrusion only and all other areas remain untested.
The Company is encouraged by the magnitude and level of nickel and precious metal mineralization that exists on the MAN Alaska Project and believes that Area 1 has significant potential for a major nickel or precious metal discovery.
Area 1 Highlights:
- Fish Lake contains four main areas of high mineralization: Tres Equis - 7% Ni, 7% Cu, 4 g/t PGE+Au+Ag; Lucky 7 - 0.16% Ni, 0.13% Cu, 0.2 g/t PGE; LFF - 1.1% Ni, 0.2% Cu, 0.2 g/t PGE; Ravine Gossan - 3.2% Ni, 1.4% Cu, 3% Co (massive sulfide in drill hole results, hole 8).
- Dunite Hill contains two major areas of interest: Dunite Hill Syncline - Hosts the highest geophysical conductivity intersection on the property (USGS Transect line G) which shows a high conductivity root zone beneath a wide funnel-shaped intrusion over 2 miles deep. This high conductivity zone plunges to the northwest toward a major gravity high and has never been drill tested. In addition, East Tangle has a Cu showing with assay grades from rock samples up to 6.6% Cu, 4.8 g/t Au, 45.7 g/t Ag, and 3% combined LREE. This 1/2 mile long area has had no follow-up exploration work.
- In addition, the project area hosts the potential for an open pit disseminated nickel operation with large intersections of disseminated nickel discovered in numerous drill holes. For example: MAN05-01A (Tres Equis) drill hole intersected 0.3% Ni, 0.1% Cu and 0.2 g/t PGE over 108 feet (includes 0.5% Ni, 0.2% Cu and 0.4 g/t PGE over 6.56 feet) from 327 foot depth. FL-009 (LFF) 0.33% Ni, 0.04% Cu and 2.2 g/t PGE over 10 feet from 108 foot depth and FL-006 0.26% Ni, 0.14% Cu and 0.25% PGE+Au over 246 feet from 852 foot depth.
The Company will be evaluating the results of all of the exploration carried out to date on Area 1 prior to announcing an ongoing exploration strategy for the property. Area 1 of the MAN Alaska Project remains one of Nevada Star's core assets and the Company will be in discussions with other companies interested in pursuing exploration of Area 1 as well as other areas of the MAN Alaska nickel-copper-PGE property.
Nevada Star Resource Corp. is a mineral exploration company that uses advanced technology to search for metals that are in high demand world-wide. In addition to the MAN Alaska property, Nevada Star currently has projects in Nevada and Utah. The Nevada and Utah properties, which are scheduled to go into production, are in joint partnership with Round Mountain Gold Corporation and Western Utah Copper Company, respectively. For more information, including maps, photos and project descriptions, visit www.nevadastar.com.
This release was prepared by management of Nevada Star Resource Corp. who take full responsibility for its contents.
Neither the TSX Venture Exchange nor the NASD OTC Bulletin Board have reviewed or accept responsibility for the adequacy of this news release.
Contacts: Nevada Star Resource Corp. Robert Angrisano President and CEO (425) 467-1836 (425) 222-0894 (FAX) rangrisano*nevadastar.com www.nevadastar.com
Copyright 2006 Market Wire, All rights reserved
Posted by J_U_ICE on :
IMNL 0.20
iMedia Announces Results of Second Quarter Operations -- Company Sees First Revenues From Hollywood Previews Newspaper Syndication 8/18/2006
SANTA MONICA, Calif., Aug 18, 2006 (PRIMEZONE via COMTEX News Network) -- iMedia International, Inc. (OTCBB:IMNL) (www.imedia-intl.com) announced today the results of its second quarter operations. While the Company saw a decrease in net sales for the period, it realized its first material revenues from its newspaper syndication program, and the distribution of Hollywood Previews Entertainment iMagazine. In addition, the Company continues to show an increase in gross profits from its custom disc productions.
"Since the beginning of the year, we have concentrated our full sales efforts towards the launch of our newspaper syndication in Dallas," said David MacEachern, CEO of iMedia International. "We knew that this would result in an immediate reduction of our custom disc sales, but believe that our intensive focus and the investment made to launch Hollywood Previews will have a greater long-term benefit for the Company."
During the six-month period ending June 30, 2006, the Company accomplished the following milestones:
1 Secured a full-circulation distribution and partnership agreement with the Dallas Morning News, and began distribution of 640,000 Hollywood Previews discs each month beginning April 30. 2 Secured a second, full circulation distribution and partnership agreement with the New York Daily News, a newspaper boasting the highest readership of any paper in the New York City area. 3 Produced an interactive custom promotional disc for the NCAA basketball championship featuring sponsors Cingular and Coke which was distributed in WalMart stores nationally. 4 Produced an interactive promotional disc for PGA Golf sponsored by FedEx. 1,600,000 discs were distributed in Sports Illustrated magazines and in FedEx-Kinko's retail stores. 5 Produced five new interactive discs for Cirque du Soliel. 6 Completed custom disc reorders for current clients Wynn Las Vegas Resort, Embassy Vacations, and Cirque du Soliel and Doyle's Room. 7 Received it first royalty payment from Google for click-through advertising response from the Hollywood Previews website.
Net Sales were essentially flat for the six month period ending June 30, 2006 but decreased $1,005,000 or 59% from $1,701,000 during the three month period ended June 30, 2006 compared to the comparable period during 2005. The decrease in net sales was primarily due to the reduction in sales efforts for our custom digital disc programs as sales activity was re-focused on Dallas Morning News, whereby we realized our first revenues from our newspaper syndication program.
Cost of sales decreased $161,000 or 11% from $1,447,000 to $1,286,000 for the three months ended June 30, 2005 to $1,286,000 for the three months ended June 30, 2006. However, during the period we experienced a negative gross profit of $(589,613) compared to a $253,000 gross profit for the comparable period during 2005. The negative gross profit is primarily due to the anticipated subsidies to launch Hollywood Previews in the Dallas Morning News. The negative gross profit was partially offset by the continued improvement of gross profits for our custom disc sales which improved to 35% for the three months ended June 30, 2006 compared to 15% during the three month period ending June 30, 2005.
Selling expenses increased $156,000 or 35% for the three months ended June 30, 2006 to $595,000 from $439,000 for the comparable period during 2005. The increase in selling expenses was primarily attributable to various travel and entertainment expenses and non-cash compensation associated with the launch of Hollywood Previews in the Dallas Morning News.
Our General and Administrative expenses decreased $1,005,000 or 57% for the three months ended June 30, 2006 to $770,000 from $1,775,000 for the comparative period during 2005. The decrease in general administrative expenses was primarily attributable to non-reoccurring cash and non-cash expenses for warrants and offering costs realized in the prior year that were not realized during this period.
About iMedia International Inc.
iMedia International, Inc. (IMNL) is a publicly held digital media solutions company producing DVD's, and CD-ROM's for digital multimedia marketing and promotional campaigns. iMedia publishes proprietary and custom digital iMagazines and offers expert digital media solutions services including: strategic planning, content aggregation and production, disc audio/video design, authoring, editing and compression, disc packaging manufacturing and distribution. A key feature of iMedia's technology is its iReporting(tm) real-time, online tracking system which provides quantitative data on disc viewer usage patterns and effectiveness of iMedia marketing and promotional campaigns.
The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements to the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, product development and acceptance, the impact of competitive services and pricing, general economic risks and uncertainties, and various other information detailed from time to time in the Company's filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof. Please refer to the full filing of the Company's Quarterly Report on Form 10-Q at http://www.sec.gov.
iMedia International, Inc. Condensed Combined Balance Sheet As of June 30, 2006 (unaudited)
ASSETS Current Assets Cash $ 66,693 Accounts receivable, net of allowance for doubtful accounts of $60,000 428,038 Work in process 59,947 Due from affiliate 5,331 Prepaid expense 9,601 ---------- Total current assets 569,610 Property and equipment, net 173,173 ---------- Total Assets $ 742,783 ---------- LIABILITIES AND SHAREHOLDERS' DEFICIT Current liabilities: Accounts payable and accrued expenses $1,753,771 Accrued liquidated damages 2,506,654 Deferred revenue and customer deposits 311,983 Warrant derivative liability 1,484,052 ---------- Total current liabilities 6,056,460 ---------- Series A - Convertible preferred stock subject to redemption, net of discount of $1,427,113 1,612,887 ---------- Total Shareholders' deficit (6,926,564) ---------- Total Liabilities and shareholders' deficit $ 742,783 ----------
iMedia International, Inc. Condensed Combined Statements of Operations For the Three and Six Months Ended June 30, 2006 and 2005 (unaudited)
2006 2005 2006 2005 (as restated) (as restated) ---------- ---------- ---------- ---------- Net sales $ 696,460 $1,700,886 $2,120,538 $2,147,351 Cost of sales 1,286,073 1,447,278 2,263,445 1,715,232 ---------- ---------- ---------- ---------- Gross profit (loss) (589,613) 253,608 (142,907) 432,119 ---------- ---------- ---------- ---------- Operating expenses: Selling and marketing 594,874 439,243 1,787,528 778,933 General and administrative 769,592 1,774,866 1,321,202 3,929,431 Operating expenses- related party 157,625 135,000 322,625 291,000 ---------- ---------- ---------- ---------- Total operating expenses 1,522,091 2,349,109 3,431,355 4,999,364 ---------- ---------- ---------- ---------- Loss from operations (2,111,704) (2,095,501) (3,574,262) (4,567,245) ---------- ---------- ---------- ---------- Other (income) expense: Net (gain) Loss on revaluation of warrant derivatives (2,232,911) 2,428,952 (3,631,253) 2,428,952 Penalty on late filing of SB2 782,794 -- 1,297,136 -- Warrants issued for extension on Convertible note payable -- 340,478 -- 340,478 Interest on amortization of debt discount -- 31,551 -- 126,204 Interest (income) expense, net 1,127 29,679 (6,370) 67,572 Loss on investment -- 6,436 -- 149,913 Impairment loss on investment in available for sale securities -- 57,720 -- 1,570,750 ---------- ---------- ---------- ---------- Total other (income) expense (1,448,990) 2,894,816 (2,340,487) 4,683,869 ---------- ---------- ---------- ---------- Loss before provision for income taxes (662,714) (4,990,317) (1,233,775) (9,251,114) Provision for income taxes 3,000 3,200 4,092 4,000 ---------- ---------- ---------- ---------- Net loss (665,714) (4,993,517) (1,237,867) (9,255,114) Interest on fixed conversion feature and accretion of discount on Series A redeemable preferred stock 379,998 92,889 759,996 92,889 Preferred stock dividends Series A and B 119,400 18,746 238,800 18,746 Preferred stock dividends - iPublishing, an affiliated company 6,750 6,750 13,500 13,500 ---------- ---------- ---------- ---------- Net loss allocable to common shareholders $(1,171,862)$(5,111,902) $(2,250,163)$(9,380,249) ---------- ---------- ---------- ---------- Net loss per common share allocated to common shareholders, Basic and Diluted $ (0.02) $ (0.07) $ (0.03) $ (0.14) ---------- ---------- ---------- ---------- Weighted average common shares outstanding Basic and Diluted 73,154,739 70,960,230 73,071,727 69,004,890 ---------- ---------- ---------- ----------
iMedia International, Inc. Condensed Combined Statements of Cash Flows For the Six months ended June 30, 2006 and 2005 (unaudited)
2006 2005 (as restated) ---------- ------------ Net loss $(1,237,867) $(9,255,114) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation 34,139 24,296 Allowance for doubtful accounts 34,695 -- Loss on sale of investments -- 149,913 Unrealized loss on investment in available for sale securities -- 1,570,750 Change in warrant derivative due to revaluation (3,631,253) 2,428,952 Options issued for employee compensation 90,475 -- Options issued to employees 11,374 -- Issuance of warrants for extension of notes payable -- 340,478 Issuance of additional warrants to investors -- 810,563 Issuance of warrants for services 199,516 83,584 Issuance of common stock for services 76,000 1,926,750 Common stock issued for extension of related parties notes payable -- 94,900 Net change in deferred compensation (32,034) (48,366) Changes in assets and liabilities: Accounts receivable 1,357,750 (880,412) Work in process (32,168) (129,051) Prepaid expenses and other assets 3,962 (245) Accounts payable and accrued expenses 655,132 (10,985) Accrued liquidated damages 1,297,136 -- Deferred revenue and customer deposits 221,543 123,260 ---------- ---------- Net cash used in operating activities (951,601) (2,770,727) ---------- ---------- Cash flows from Investing activities Purchase of equipment (66,827) (16,318) Sale of investment in available for sale securities -- 209,261 Due to/from affiliates, net (52,000) 26,398 ---------- ---------- Net cash (used in) provided by investing activities (118,827) 219,341 Cash flows from financing activities Common stock committed for interest on related party notes -- (94,900) Payments on notes payable -- (1,000,000) Payments on notes payable - related parties (8,483) (130,000) Proceeds from notes payable - related parties -- 15,047 Proceeds from issuance of redeemable Series A preferred stock, net -- 2,712,393 Proceeds from issuance of common stock for cash -- 1,149,960 Dividend on Preferred Series A (238,800) (18,746) Dividend on iPublishing preferred (13,500) (13,500) ---------- ---------- Net cash (used in) provided by financing activities (260,783) 2,620,254 Net change in cash (1,331,211) 68,868 Cash, beginning of period 1,397,904 453,304 ---------- ---------- Cash, end of period $ 66,693 $ 522,172 ---------- ---------- Supplemental disclosures of cash flow information: Income taxes paid $ 3,562 $ 3,200 Interest paid $ 3,200 $ 67,571 Non-cash investing and financing activities: $ 759,996 $ -- Issuance of common stock for accrued dividends on Series A preferred stock $ 26,122 $ --
iMedia International, Inc. Kelly R. Konzelman, Executive Vice President (310) 453-4499 Fax: (310) 453-6120 kellyk*imedia-intl.com 1721 21st Street Santa Monica, CA 90404
Posted by J_U_ICE on :
CANM 0.70
/ CORRECTION - Caneum, Inc. 8/18/2006
NEWPORT BEACH, CA, Aug 18, 2006 (MARKET WIRE via COMTEX News Network) -- In the news release, "Caneum, Inc. Announces Record Second Quarter 2006 Financial Results," issued Wednesday, August 16, 2006, by Caneum, Inc. (OTCBB: CANM), we are advised by the company that revisions have been made to the release. Complete corrected text follows.
Caneum, Inc. Announces Record Second Quarter 2006 Financial Results
Company Announces 408% Year-Over-Year Quarterly Revenue Increase to $2,211,847
NEWPORT BEACH, CA -- August 18, 2006 -- Caneum, Inc. (OTCBB: CANM), a business process and information technology outsourcing services company, today announced that its revenue for the second quarter grew 408% to $2,211,847 from the prior year comparable period of $435,382. The Company also announced that revenue for the second quarter grew 159% sequentially to $2,211,847 over the prior first quarter comparable period of $854,719 and that this marked the 13th consecutive quarter of sequential top line growth. Revenue for the first half of 2006 increased 379% to $3,066,567 over the comparable first half of 2005 of $639,904. Similarly, gross margins for the first half of 2006 increased 21% to 31.0% over the comparable first half of 2005 of 25.6%.
Additionally, the Company posted a second quarter EBITDA loss of only $49,606 or ($0.01) per share, reduced from the prior year comparable period loss of $218,247, or ($0.05) per share. For the second quarter of 2006, the Company posted a net loss of $349,558, or ($0.06) per share, reducing the net loss 7% compared to the second quarter of 2005 from $376,516, or ($0.08) per share.
The Company, which has customers ranging from start-up to Fortune 500 companies, provides a broad range of business process and information technology outsourcing solutions and attributed its performance to continued strong demand for its outsourcing services, an expanded organic customer base, a higher margin outsourcing service mix and the successful acquisition and integration of TierOne Consulting, Inc. Reported results included:
-- Year-over-Year Second Quarter 2006 Revenues up 408% to $2,211,847 from $435,382 in the Second Quarter 2005 -- Year-over-Year Second Quarter 2006 Gross Margins up 49% to 33.0% from 22.4% in the Second Quarter 2005 -- Year-over-Year Second Quarter EBITDA Loss down 77% to $49,606 or ($0.01) per share from $218,247 or ($0.05) per share in the Second Quarter 2005 -- Year-over-Year Second Quarter 2006 Net Loss of $349,558, or ($0.06) per share, from a Second Quarter 2005 Net Loss of $376,516, or ($0.08) per share; net loss includes the effect of stock-based compensation associated with expensing stock options, non-cash consulting expense, amortization of intangible assets associated with last quarter's acquisition and a write- down of a prepaid investor relations asset -- Quarter-over-Quarter Second Quarter 2006 Revenues up 159% to $2,211,847 from $854,719 in the First Quarter 2006 -- Quarter-over-Quarter Second Quarter 2006 Gross Margins up 33% to 33.0% from 25.1% in the First Quarter 2006 -- Quarter-over-Quarter Second Quarter 2006 EBITDA Loss down 77% to $49,606 from $206,509 in the First Quarter 2006 -- Quarter-over-Quarter Second Quarter 2006 Net Loss of $349,558, or ($0.06) per share, down from a First Quarter 2006 Net Loss of $352,781, or ($0.06) per share; net loss includes the effect of stock-based compensation associated with expensing stock options, non-cash consulting expense, amortization of intangible assets associated with last quarter's acquisition and a write-down of a prepaid investor relations asset -- Year-over-Year First Half 2006 Revenues Up 379% to $3,066,567 from $639,904 in the First Half 2005 -- Year-over-Year First Half 2006 Gross Margins up 21% to 31.0% from 25.6% in the First Half 2005 -- Year-over-Year First Half 2006 EBITDA Loss down to $256,115 from $526,722 in the First Half 2005 -- Year-over-Year First Half 2006 Net Loss down 27% to $638,311 from $878,444 in the First Half 2005; net loss includes the effect of stock- based compensation associated with expensing stock options, non-cash consulting expense, amortization of intangible assets associated with last quarter's acquisition and expense associated with a prepaid investor relations asset
Alan Knitowski, Chairman of Caneum, commented, "We are absolutely thrilled with the continued operating performance and growth of the Company, including the addition of several new customers and expansions with several existing customers. Not only have we proven the organic growth capabilities afforded by our agnostic hybrid outsourcing model, but we have also proven that we can acquire companies, integrate them quickly and immediately accelerate the combined enterprise. We are excited to have delivered our 13th consecutive quarter of record results and expect that the pending 3rd quarter will continue this well established multi-year trend. As always, we encourage prospective and current shareholders to review additional details and developments in our full 10-QSB now on file with the SEC."
Gary Allhusen, Chief Operating Officer, commented, "We've closed the acquisition, integrated the businesses, combined operations and expanded our capacity 43% and prepared the Company for our next phase of growth. In spite of significant investments in expanding our capability, we are very pleased with our Second Quarter results and equally optimistic about the momentum we carry into the Third Quarter on both the top and bottom lines of our business."
About Caneum, Inc.:
Caneum, Inc. is a global provider of business process and information technology outsourcing services across vertical industries including technology, energy, government, transportation, financial services, education and healthcare. The Company's mission is to push the boundaries of innovation and global competitiveness through the borderless integration of people, process, technology and information. To accomplish this, Caneum provides a suite of business strategy and planning capabilities to assist companies with their "make versus buy" decisions in the areas of data, network, infrastructure, personnel, development, enterprise software, maintenance, support and functional area business processes, and fulfills its services agnostically with a hybrid outsourcing model in-house, on-shore, near-shore and off-shore, depending on the business goals and objectives of its global customers. In parallel, Caneum is opportunistically pursuing accretive acquisitions within its core outsourcing service suite in order to broaden its core capabilities, expand its customer base and supplement its organic growth. For more information, please visit the Company's web site at http://www.caneum.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The Company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include, but are not limited to, the risk factors noted in the Company's filings with the United States Securities and Exchange Commission, such as the rapidly changing nature of technology, evolving industry standards and frequent introductions of new products, services and enhancements by competitors; the competitive nature of the markets for the Company's services; the Company's ability to gain market acceptance for its products and services; the Company's ability to fund its operations and growth; the Company's ability to attract and retain skilled personnel; the Company's ability to diversify its revenue streams and customer concentrations; and the Company's use and reliance on third-party suppliers and contractors.
Copyright 2006 Market Wire, All rights reserved.
Posted by mo-rydr on :
PWEB 0.06 / 0.016 August 18, 2006 - 1:20 PM EDT
Pacific WebWorks Reports Revenue Growth for 2006 2nd Quarter Pacific WebWorks Inc. (OTCBB:PWEB) today reported revenues of $1,579,057 for the quarter ended June 30, 2006. This represents a 60% increase over revenues reported for the same quarter in 2005. Revenues for the six months ended June 30, 2006 amounted to $3,113,956, a 68% increase over the same period in 2005.
Revenues increased in every revenue category with the most notable growth coming in the areas of software access and license fees and training and education.
CEO Ken Bell stated, "Second quarter 2006 results, as well as our results for the six months ended June 30, 2006, continue a pattern of increased revenues when compared to the same period for the previous year. It also represents continued growth throughout our revenue categories. Losses persist but at a considerably reduced level for the second quarter of 2006 when compared to the same period for 2005."
Bell continued, "While revenue growth continues and losses have decreased in an effort to increase cash generated from operations we are actively pursuing new and more effective methods to market our products. We are pleased with our progress on that front and look forward to positive developments in this area over the balance of this year."
About Pacific WebWorks, Intellipay and TradeWorks Marketing
Pacific WebWorks provides a comprehensive suite of affordable, easy-to-use software programs for small businesses that want to create, manage, and maintain an effective Web strategy including full e-commerce capabilities.
Pacific WebWorks wholly owned subsidiary IntelliPay develops and provides trusted electronic transaction processing and payment products and services.
Pacific WebWorks wholly owned subsidiary TradeWorks Marketing is a sales and marketing organization created to market Pacific WebWorks and IntelliPay products.
Forward-Looking Statements: This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The company's actual results could differ materially from expected results.
Pacific WebWorks Inc., Salt Lake City Ken Bell, 801-578-9020
Posted by BuckyBarnes on :
August 20, 2006 - 7:34 PM EDT
CSHD 0.99 0.315
Conversion Solutions Holdings Corp CEO Recipient of the 2006 Georgia Republican of the Year Award from the National Republican Congressional Committees Business Advisory Council KENNESAW, Ga., Aug. 20 /PRNewswire-FirstCall/ -- Conversion Solutions Holdings Corp (OTC Bulletin Board: CSHD), a Delaware Corporation would like to announce that our Chief Executive Officer, Rufus Paul Harris was the recipient of the 2006 Georgia Republican of the Year Award from the Business Advisory Counsel (BAC) a project of the National Republican Congressional Committee (NRCC).
Mr. Harris also qualifies for the BAC - NRCC most prestigious award the Congressional Medal of Distinction, awarded later this fall.
'I am extremely grateful for the tremendous support that Rufus has shown for our Party, especially in this critical election year,' commented Congressman Tom Reynolds NRCC Chairman in a letter to Mr. Harris.
'This award is given to a select group of business and community leaders from each state that have championed the free enterprise system and supported the ideals of smaller government, lower taxes and less regulation,' explained Congressman Tom Reynolds NRCC Chairman
'I would like to express my gratitude to the NRCC and Chairman Reynolds, for this opportunity, I fell that the NRCC and the BAC is the key to the Republican parties present and future.' stated Rufus Paul Harris NRCC Membership # 507731769.
About Conversion Solutions Holdings Corp
CSHD is a diversified holdings corporation, which was formed to originate, fund and source funding for asset-based transactions in the private market. CSHD's main service will be to acquire, fund and provide insurance to target companies in the currently underserved $15,000,000 to $100,000,000 asset finance market. Our funding will enable our businesses to compete more effectively, improve operations and increase value. CSHD is headquartered in Kennesaw, Georgia, a suburb of Atlanta. For more information, please visit us at www.cvsu.us.
Sterling Planet Supplies 18 Million kWh of Wind Energy Credits to National Envelope
By BusinessWire Last Update: 8/21/2006 7:30:29 AM Data provided by
NEW YORK, Aug 21, 2006 (BUSINESS WIRE) -- National Envelope, the world's largest envelope manufacturer has signed a multi-year contract with Sterling Planet for the purchase of 18 million kilowatt hours of Renewable Energy Credits from wind energy projects located nationwide.
Wind energy is the fastest growing source of electricity in the USA. The National Envelope purchase serves to avoid the release from conventional electricity generation of approximately 25,056,000 pounds of carbon dioxide, the leading greenhouse gas. The environmental benefit compares to not taking nearly 10,000 drives between Los Angeles and New York City.
With this purchase, National Envelope gains entry into the Environmental Protection Agency's Green Power Partnership and its Green Power Leadership Club. To become a Partner, organizations replace a portion of their annual electricity consumption with green power. The Green Power Leadership Club further honors Green Power Partners that have made an exemplary green power purchase that significantly exceeds minimum Green Power Partnership purchase requirements.
National Envelope has a long-standing commitment to the environment, environmentally-sound products and eco-friendly business practices. For example, National Envelope is the first and only envelope converter in the United States to be certified to produce envelopes, announcements, and greeting cards that are accepted as meeting the standards of the Forest Stewardship Council and the Sustainable Forestry Initiative(R) program.
"This purchase of wind credits from Sterling Planet demonstrates our focus on being a good corporate citizen," says Nathan Moser, CEO. "We selected Sterling Planet as our provider because we were looking for the greatest value that would enable us to do our part for the environment while continuing to deliver the best quality envelopes at the lowest cost."
Renewable Energy Credits, also known as RECs, represent the environmental benefits of generating electricity by use of renewable energy sources such as the wind and sun. RECs are sold separately from the electrical output of renewable energy projects and are available to residential and non-residential customers nationwide through Sterling Planet, the nation's leading retail provider of renewable energy.
Sterling Planet caters to the needs of large corporations seeking to purchase RECs in large volume with economical multi-year pricing, while also serving residential customers nationwide. "We commend National Envelope, a visionary company with steadfast support of environmental causes, as shown through this major commitment to renewable energy," says Mel Jones, Sterling Planet's President and Chief Executive Officer. "We encourage other corporate citizens to follow National Envelope's example of stewardship."
About National Envelope Corporation
National Envelope is the largest envelope company in the world. Servicing the country with 21 manufacturing facilities coast-to-coast which operate utilizing the most technologically advanced folding, printing, and prepress equipment, National offers its customers unparalleled product selection and service. The company is the official converter for every major North American paper company as well as some of Europe's most prestigious mills. In addition to a full selection of envelopes, the company also offers a full range of announcement and greeting products. With over 3 billion envelopes in stock and a base of over 600 folding machines, National Envelope sets the standard for the envelope manufacturing industry.
About Sterling Planet, Inc.
Sterling Planet is the nation's leading retail provider of solar, wind and other clean, renewable energy through direct sales and electric utility partnerships. Sales to date have created environmental benefits comparable taking 613,500 cars off U.S. roads for a year. Founded in 2000, Sterling Planet was the first company to offer RECs (Renewable Energy Credits) to every U.S. home and business as a way to support sustainable energy production that benefits the environment, the economy and society in general. Today, Sterling Planet has 304 large commercial and industrial clients nationwide, including 31 utility partners in Connecticut, Florida, Massachusetts, New Jersey, New York and elsewhere. The company is also exploring emerging clean energy markets, maintaining a focus on businesses, universities, government clients and other companies seeking LEED credits for green building certification.
Sterling Planet is a division of GS Energy Corporation (OTC Bulletin Board: GSEG), an integrated clean energy company that was founded to facilitate the more efficient use of traditional sources of energy and the increased production and use of renewable sources of energy.
Posted by J_U_ICE on :
SITG (.03)Offers Airlines Their Terrorist Trap -- VSA >NEW YORK, Aug. 21, 2006 (PRIMEZONE) -- Security Intelligence Technologies, Inc. (OTCBB:SITG) today announced that its subsidiary, Homeland Security Strategies, Inc. (HSS) has offered a number of airlines, at no charge, field test units of their Terrorist Trap -- VSA(tm) 2000, its latest digital voice intelligence system.
HSS's engineers designed the original Electronic Voice Stress Analyzer, "VSA"(tm) over 25 years ago. The system detects sub-audible micro-tremors in the vocal cords that indicate stress caused by deception, i.e. untruthful answers. The process is simple and needs no physical attachment to the subject, and can be operated covertly or with recorded conversations. HSS's latest generation VSA(tm) has been upgraded for use at airports and transportation hubs.
HSS's VSA(tm) systems are currently being used by governments, law enforcement, intelligence professionals and businesses here and abroad. An important market for HSS's VSA(tm) systems has been Central and South America, where the systems are in use by governments, banks, and insurance companies during claim investigations, businesses during the interviewing process, and investigators. A government in South America has recently enacted legislation to allow the results of VSA(tm) testing as evidence in their courtrooms.
"We have upgraded the system for use at airports and transportation hubs so that the total process will take minimal time. We believe the product is a valuable tool for airlines that will enable instantaneous pre-screening of passengers to help single out possible terrorists and suicide bombers as they go through security checks," stated SITG's CEO Ben Jamil.
About Security Intelligence Technologies, Inc.
Security Intelligence Technologies, Inc. and its subsidiaries design, develop, manufacture, market and distribute leading edge solutions and advanced proprietary systems for the counterterrorism, surveillance, counter-surveillance markets worldwide through its corporate website, international seminar program and through its offices located in New York, and its strategic alliances worldwide. SITG's product line and security technologies are currently distributed throughout the US, Europe, Asia, the Middle East and Latin America and are marketed under the names Security Intelligence Technologies, and Homeland Security Strategies.
Safe Harbor Statement
Statements in this press release and oral statements that may be made by the Company or by officers, directors or employees of the Company acting on the Company's behalf may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "expects," "intends," "may," "should," or "anticipates" to be uncertain forward-looking statements. The forward looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission, including the material under "Risk Factors" in the Company's Form 10-KSB for the year ended June 30, 2005 and the material under Management's Discussion and Analysis of Financial Condition and Results of Operations in the Company's Form 10-K for the fiscal year ended June 30, 2005 and Form 10-QSB for the quarter ended March 31, 2006. Information on SITG's corporate website or any other website is not a part of this press release.
USXP 0.0038 the company is anticipating wider growth
Business Editors / Logistics & Transportation Writers
NEW YORK--(BUSINESS WIRE)--Aug. 21, 2006-- Universal Express Inc. (OTCBB: USXP). "As a result of the terrorist events in the U.K., Universal Express, Inc., a pioneer in luggage-delivery services, is seeing a 19 percent surge in individual bookings for its Luggage Express and Virtual Bellhop brands within a week, domestically and in Europe, and the company is anticipating wider growth as a large number of global companies in the travel industry are eagerly turning to the diversified logistics company to forge marketing partnerships so they can offer consumers a secure, timesaving and stress-free convenience," announced Richard A. Altomare, CEO, Universal Express, Inc. (OTCBB:USXP) and Founder and Chairman of The Coalition for Luggage Security. "With the airport terror plot, new regulations and the airlines' creaky baggage systems putting fliers in a tailspin, upscale companies in the travel industry that we've been courting for alignments are now calling us, eager to come to the table to forge innovative marketing partnerships with our brands as a way to provide a security service that is more than a luxury - it's a necessity," said Mr. Altomare. "Since the August 10 terror plot in London was foiled we've signed six partnership contracts with leading companies in the travel industry." Universal Express, based in Boca Raton, Fla. and New York, partners with more than 50 organizations including hotels, credit card companies, cruise lines, travel agencies, tour operators and other leaders in the travel industry. Universal Express introduced its Virtual Bellhop (www.virtualbellhop.com) and Luggage Express (www.usxpluggageexpress.com) brands in 1997 and both services operate from the same facility in Boca Raton. Baggage travels through sophisticated baggage movement systems and software. The company carved out this specialty niche from its array of logistics and air courier services. Within two years competition started heating up and today there are about eight players in the market, some of which concentrate on niches like sports equipment. "In this age of terrorism and the urgent need for security, Luggage Express, Virtual Bellhop and our competitors are experiencing brisk business because a consumer need is being met," said Mr. Altomare. "Increasingly, travelers are finding a new way to avoid getting frazzled by ever-changing restrictions, rules and long lines. Traveling without luggage takes experiential knowledge because it's a different way of acting or behaving." The Luggage Express and Virtual Bellhop services started out domestically and have since expanded worldwide to most countries, except Cuba, delivering baggage from a home or business to its destination and then back again using air or ground transportation. Of Luggage Express, Mr. Altomare explained the brand is registered in 10 different languages, with more to come. "Today we look at travelers in a general sense, not just as business travelers or vacationers," said Mr. Altomare. "People are merging their business with leisure activities. We've moved approximately five million cases over the past nine years with most of our customers renewing. Once people have luggage shipped ahead, they can't see how they ever lived without it especially in today's terror climate." Mr. Altomare explained the biggest misunderstanding for most American travelers is assuming their luggage travels for free. "The airlines are losing $11 billion a year and their luggage costs total $9 billion of that figure," he said.
About Universal Express
Universal Express, Inc. is a 22 year old logistics and transportation conglomerate with multiple developing subsidiaries and services. For additional information please visit www.usxp.com
Safe Harbor Statement under the Private securities Litigation Reform Act of 1995: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
KEYWORD: EUROPE NORTH AMERICA FLORIDA NEW YORK UNITED KINGDOM UNITED STATES INDUSTRY KEYWORD: TRANSPORT AIR TRAVEL TRANSPORTATION COMMUNICATIONS MARKETING PRODUCT/SERVICE SOURCE: Universal Express Inc.
CONTACT INFORMATION: For Investor Relations: Universal Express, Inc. Mark Falk, 631-588-1644 publicrelations*usxp.com
.................
Posted by J_U_ICE on :
TJSS (.14) ThreeCard.Com Signs With Taj Systems
HOLLYWOOD, FL -- (MARKET WIRE) -- 08/21/06 -- Taj Systems, Inc. (PINKSHEETS: TJSS), a gaming software development company, has confirmed securing ThreeCard.com as the newest and most valuable affiliate for licensee TeenPatti.com.
In a three-party deal, ThreeCard.com will utilize Taj Systems' proprietary multi-player Teen Patti (three-card Poker) software, coupled with online gaming site TeenPatti.com's infrastructure to launch a new gaming site prior to the end of this year. As an affiliate, ThreeCard.com reports it will initially begin by promoting TeenPatti.com, prior to launching its own custom site by year-end.
ThreeCard.com possesses two valuable assets supporting its launch: a rapid rise in the recent popularity of three-card Poker in casinos throughout the world and an easily recognizable domain name. The new site targets all Poker fans in hopes of creating a large Internet following for another equally entertaining and exciting style of Poker which has traditionally been enjoyed by millions of people in Southeast Asia and the United Kingdom.
Adding a new website to its family of licensees and/or sub-affiliates is expected to greatly benefit Taj Systems and further strengthen its network by building a critical mass of players on its platform. To learn more about Taj Systems, visit http://www.tajsystems.com. Taj Systems' proprietary Three-card Poker software may be enjoyed at http://www.teenpatti.com.
Safe Harbor Statement:
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not of historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.
CONTACT: Taj Systems Investor Relations (954) 927-6597 http://www.tajsystems.com Posted by J_U_ICE on :
LBTN (.001) Acquires Minority Interest in TrendSetter Solar Products, Inc. Valued at $600,000
RENO, NV -- (MARKET WIRE) -- 08/21/06 -- Lifeline Biotechnologies, Inc. (PINKSHEETS: LBTN) announced today that it has acquired a minority interest in TrendSetter Solar Products, Inc. (PINKSHEETS: TSSP), a quality manufacturer of state-of-the-art, solar hot water heating and storage systems in the United States.
Lifeline received approximately 8.3 million shares of TrendSetter Industries which represents more than $600,000 in total value which will be added to the company's balance sheet. The acquisition of TrendSetter is part of Lifeline's strategy to increase shareholder value by improving its asset valuation and issuing dividends to its shareholders.
Lifeline recently announced that all shareholders of record will receive a stock dividend in Solos Endoscopy (SLSE) shares payable on September 29, 2006.
"This acquisition of a minority interest in TrendSetter Solar Products, Inc. is another major step in the execution of our diversification strategy. TrendSetter is an exciting, environmentally friendly company with a unique product that is becoming more necessary every day," stated Jim Holmes, CEO of Lifeline Biotechnologies, Inc.
TrendSetter Solar Products' solar hot water systems and storage tanks are uniquely positioned to serve the residential and commercial market because the Company offers a full range of systems that are rated to take advantage of the new federal energy tax credit program. Tax Credits (http://www.energystar.gov/index.cfm?c=products.pr_tax_credits) are available at a 30% credit for up to $2,000 for the purchase and installation of solar electric and solar water heating systems. In addition, yearly operating costs are low because solar electricity needs very little maintenance, very few spare parts, and no fuel. Information about TrendSetter can be obtained from their website at: http://www.trendsetterindustries.com.
About Lifeline Biotechnologies, Inc.:
Lifeline Biotechnologies develops and acquires undervalued companies which have innovative technology in the medical, nutraceutical, and energy industries, to increase the growth of the Company. Lifeline Biotechnologies continues to seek out and capitalize on emerging technologies that will change the medical, nutraceutical, and energy community.
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
Contact: Lifeline Biotechnologies, Inc. Investor Relations 1-866-THE-APPLE
Posted by J_U_ICE on :
FGFC (.015) Updates the Development Status of its Buysellmerge.com Unit Business Editors
NEW YORK--(BUSINESS WIRE)--Aug. 21, 2006-- Buysellmerge.com, a division of First Guardian Financial Corporation (Pink Sheets: FGFC) today announced the status and progress directed toward the much anticipated launch date of its premier business portal.
The company has recently moved some of its hosting servers to eapps Business Application Solutions http://eapps.com/Company/AboutUs.jsp as this will allow the company the additional applications that are required for a portal of this complexity.
The company decided on eapps.com to provide the following additional hosting and applications for the portal Advanced Plus VPS - Ruby/Java/LAMP, Apache 2.0.52, Apache module mod perl, Apache module mod ssl, imap, IPTables, J2RE, J2SDK, JBoss4, Mod Jk, MySQL Server v5, Control Panel, SSH and other certain administrative functions and applications.
The company has also acquired a license for a SSL Cert from Verisign Secure, that is required for an interactive portal of this magnitude. VeriSign Inc operates intelligent infrastructure services that enable and protect billions of interactions every day across the world's voice and data networks. Every day, we process as many as 18 billion Internet interactions and support over 100 million phone calls. We also provide the services that help over 3,000 enterprises and 500,000 Web sites to operate securely, reliably, and efficiently. VeriSign is a global enterprise with offices throughout the Asia-Pacific region, Europe, Latin America, and North America, supported by a widespread international network of data centers and operations.
The company has been working on a fierce fast track basis including this past weekend to get the portals phase one completed and rolled out by this week so that pre official launch tests can be completed, and to work out any technical problems over the internet that may occur, with phase two and three to be added quickly upon satisfactory function ability.
"We are very pleased with the efforts of Dr. Cheng and Mr. Mohamed and their development team with the commitment to this project and their determination to be the outstanding business portal on the World Wide Web. We envision Buysellmerge.com to be to the business world what Yahoo and Google are to the retail & consumer market," said Abraham Rosenman, President First Guardian Financial Corporation
About First Guardian Financial Corporation:
The company is a Financial Holding Company currently providing Commercial Real Estate Financing & Invests and provides financing for its own portfolio in small to mid sized businesses nationally. Its primary goal is to provide short term financing within the commercial real estate market and invest and or provide secured short term financing to businesses either in the start up stage or growth stage throughout the United States.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
KEYWORD: NORTH AMERICA NEW YORK UNITED STATES INDUSTRY KEYWORD: TECHNOLOGY INTERNET PROFESSIONAL SERVICES BANKING FINANCE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE SOURCE: First Guardian Financial Corporation
CONTACT INFORMATION: First Guardian Financial Corporation Investor Relations, 212-572-4823 Fax: 212-572-6499 Investor.relations*guardianfinancialcorp.com http://www.guardianfinancialcorp.com Posted by J_U_ICE on :
CMDA (.28) China Media1 Reports Profitable 2nd Quarter
IRVINE, CALIFORNIA -- (MARKET WIRE) -- 08/21/06 -- China Media1 Corp. (OTCBB: CMDA) wishes to announce that we have filed the quarterly Form 10-QSB for the quarter ended June 30, 2006 last Thursday August 17, 2006. In the second quarter, our China advertising properties have generated Revenue of $1,982,044 (all in US$), $1,121,811 in Operating Income and $921,400 in Net Income. The $921,400 was then brought into the Company's P/L as Net Income from Contract Rights (please see Note 9 of the financial statements for details). The presentation of revenue from contract rights on a net basis is SEC approved and according to US GAAP. Even after absorbing a variety of accounting related entries totaling $464,853 associated with convertible financing, we still reported $193,112 Net Income for the Company. Effective from the quarter ended June 30, 2006, Chuangrun has agreed to adjust their management fee to 20% of revenue up to the original amount as stated in the management contracts.
We also wish to announce that we have changed auditors from Ernst & Young, LLP to Vellmer & Chang, Chartered Accountants; a PCAOB registered firm based in Vancouver, Canada. The principals came from large national firms and have a wealth of international and China related experience. We expect to be well served with timely and professional service when required. The changeover has resulted in some handover procedures that required extra time; we will be able to meet future audits and reviews on a timelier basis.
About China Media1 Corp.:
China Media1 Corp. has obtained rights to premiere Chinese advertising media assets in China. Its affiliate, Guangzhou Chuangrun Advertising Company, operates the advertising space and advertising contracts with top-tier brand names and multi-national corporations as well as large advertising agencies. China Media1 has focused on providing its clients superior advertising locations based on viewership, exclusivity, and uniqueness through the use of its illuminated scrolling poster signs. China Media 1's advertising locations include the Guangzhou and Shenzhen International Airports and the Guangzhou MTR (12 Subway Stations). China Media1's website is http://www.chinamedia1corp.com.
Forward-Looking Statements:
Any forward-looking statement in this press release is made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors, technological developments, regulatory matters and increased competition. The Company disclaims any obligation to update any such factors or to publicly announce results of any revisions to the forward-looking statements contained herein to reflect future events or developments.
Contacts: China Media1 Corp. Investor Relations 1-866-889-4905 investor*chinamedia1corp.com http://www.chinamedia1corp.com Posted by J_U_ICE on :
RVEM (.0001) Unveils its New Swimsuit Website With Live Models at www.flaw-lessdesigns.com Business Editors / Fashion Writers
ORLANDO, Fla.--(BUSINESS WIRE)--Aug. 21, 2006--
Raven Moon's Partner Flaw-Less Designs is Now Ready to
Present the "Ms Bzz Swim & Go"(TM) Collection at the
M.A.G.I.C. Fashion Convention
Raven Moon Entertainment, Inc. (OTCBB:RVEM) announced today that its partner Flaw-Less Designs, LLC has unveiled its new website with LIVE Models and is ready to attend the M.A.G.I.C. Fashion Convention in Las Vegas on August 29th & 30th.
Flaw-Less Designs, LLC founder Bernadette DiFrancesco and fashion designer Skip Stewart, who are planning to attend the M.A.G.I.C. fashion convention in Las Vegas later this month with the revolutionary "Ms. Bzz Swim & Go"(TM) swimsuit collection stated, "We are now ready to make a deal with a manufacturer and distributor for this exquisite line for women over 40 who are definitely under-served."
Mrs. DiFrancesco said that sales of women's apparel reached $101 billion in 2005 according to a news release issued by NPD Fashionworld, a division of NPD Group. "Baby Boomer women, which represent about 40 million women between the ages of 42 and 60 in the U.S., are the greatest market opportunity today," said Mrs. DiFrancesco. "Baby Boomers are the largest generational demographic in our country today and retailers are beginning to focus on their needs and wants, particularly for the female portion of the market. But female Baby Boomers are still under-served and I believe that there is tremendous potential for Flaw-Less Designs. Our objective for the brand is to concentrate all our energies on our target market -- it will not be a sideline or brand extension for us."
To meet with the Flaw-Less Designs fashion team and executives in Las Vegas contact Chris Devine Dailey at 310-990-9792 or email her at cdevinedailey*hamlinmarketinggroup.com
For more information go to http://www.ravenmoon.net or contact Carol Merry at Fahlgren Mortine Investor Relations at 614-825-1750 or by email: carol.merry*fahlgren.com.
Safe Harbor Act Notice: This release may contain forward-looking statements that involve risks and uncertainties, including without limitation, acceptance of the company's products, increased levels of competition, product and technological changes, the company's dependence upon financing and third-party suppliers, and other risks detailed from time to time in the company's federal filings, annual report, offering memorandum or prospectus. Specifications are subject to change without notice.
KEYWORD: NORTH AMERICA FLORIDA NEVADA UNITED STATES INDUSTRY KEYWORD: SENIORS WOMEN TECHNOLOGY INTERNET MANUFACTURING TEXTILES RETAIL FASHION SPECIALTY CONSUMER PRODUCT/SERVICE SOURCE: Raven Moon Entertainment, Inc.
CONTACT INFORMATION: For Raven Moon Entertainment, Inc., Orlando Fahlgren Mortine Investor Relations Carol Merry, 614-825-1750 carol.merry*fahlgren.com
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CLME (.06) Selects Site for Its Ten Million Gallon per Year Ethanol Bio-Refinery
COLUSA, CA -- (MARKET WIRE) -- 08/21/06 -- Colusa Biomass Energy Corporation (PINKSHEETS: CLME) today announced it has selected a 15-acre site for its bio-refinery which is expected to produce 10 million gallons per year of ethanol.
Tom Bowers, CEO of Colusa Biomass Energy, stated that "Arrangements and terms have been agreed for the construction of the Company's bio-refinery. The bio-refinery will be located on a 15-acre site within the Colusa Industrial Park, Colusa, California. By locating in the Colusa Industrial Park's 750 acre facility, CLME has access to the park wastewater handling system, negating the lengthy application of a wastewater permit. In addition, the CIP facility has complete freshwater, electrical and natural gas available for the bio-refinery operations. These resources are all essential to the ethanol production process."
The CLME bio-refinery is located in a prime rice producing area of the Sacramento Valley where rice producers plant approximately 600,000 acres of rice annually. The primary feedstock for the CLME bio-refinery is rice straw, which is a post harvest residue with no commercial value to the rice farmer. Of the approximately 1.3 million tons of waste rice straw residue produced annually in the Sacramento Valley, CLME will utilize approximately 120,000 tons as its feedstock in the production of the 10 million gallons of ethanol.
About Colusa Biomass Energy Corporation
Colusa Biomass Energy Corporation (PINKSHEETS: CLME) in planning to build a bio-refinery which is engineered to convert waste rice straw residue into ethanol. The plant is based on CLME patented and proprietary technologies that converts waste biomass into ethanol for use in transportation fuels. It is important to note that the CLME technology takes nothing from the food stream but only consumes waste biomass such as straws, wood chips, forest slash and orchards trimmings.
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical fact may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from the projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
Contact Information: Tom Bowers CEO Colusa Biomass Energy Corporation Email: tfbowers*aol.com
Jim Holmes CFO CLME Email: jholmes777*aol.com
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IMOT (.14) Upgrades China Equity Exchange Platform
SHENZHEN, China, Aug. 21 /Xinhua-PRNewswire-FirstCall/ -- Intermost Corporation (OTC Bulletin Board: IMOT) -- a leading electronic equity exchange service provider in China, has completed three months of intensive revisions and upgrades on the China Equity Exchange Platform V1.1 ( http://www.chinaEex.com ).
On May 16, 2006, China's first online equity exchange system -- the China Equity Exchange Platform V1.0 -- was officially launched and immediately gathered a lot of buzz and sensational reviews from the investment community. The China Equity Exchange Platform is a breakthrough in exchange methods, and leading national media and government offices in China have published numerous articles and journals highly praising the efficiency and technology.
Since the launch of the China Equity Exchange Platform V1.0, Intermost Corporation has continued its optimization with continual upgrades and improvements, while partnering with equity exchange centers. Through this upgrading, the platform has improved significantly in its stability, security and efficiency. Investors can now complete online transactions and real-time capital settlements more effectively.
Intermost Corporation has also designed an advanced portal website at http://www.chinaE.com for the equity market. The website is user-friendly, and features solid functionality along with abundant investor information.
Mr. Xiangxiong Deng, acting CEO of Intermost Corporation said, "The new China Equity Exchange Platform V1.1 is highly automated, providing more convenient services than V1.0. Intermost Corporation spares no expense in optimizing our platform and relevant systems. We promise to offer the equity market a world-class platform and top quality services."
Mr. Deng also mentioned, "English and traditional Chinese versions of the portal website ( http://www.chinaE.com ) will soon be launched online. We are constructing http://www.chinaE.com to become a leading portal channel for the China equity market and overseas investors. "
Safe Harbor Statement
This press release contains forward-looking statements that involve risks, uncertainties and assumptions that, if they never materialize or if they prove incorrect, could cause the Company's results to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenue, or other financial items, any statements of the plans, strategies, and objectives of management for future operations, any statements concerning proposed new products, services or developments, any statements regarding future economic conditions or performance, statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations as of the date of this press release. Actual results may differ materially from those projected because of a number of risks and uncertainties, including those detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. The Company assumes no obligations and does not intend to update these forward-looking statements. Contact:
Intermost Corporation
Mr. Andy Lin
Ms.Carmen Liu
Tel: +86-755-8221-0238
Email: ir*intermost.com
SOURCE Intermost Corporation
Contact Information: Mr. Andy Lin and Ms.Carmen Liu of Intermost
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CONX (.34) Aspirin Resistance Test Licensed to Corgenix Receives U.S. Patent Office Approval Business Editors / Health/Medical Writers
DENVER--(BUSINESS WIRE)--Aug. 21, 2006--
U.S. Patent Office Grants Patent # 7,081,347 for Unique Methods for "Assessing Aspirin Resistance" and Risk of Cardiovascular Disease in
Patients Taking Aspirin
Corgenix Medical Corporation (OTC BB: CONX), a worldwide developer and marketer of diagnostic test kits, has received notification of U.S. Patent Office approval for technology to which Corgenix and strategic partner Creative Clinical Concepts (CCC) hold exclusive worldwide licensing rights.
McMaster University (McMaster) of Hamilton, Ontario, is the original and sole owner of the aspirin resistance measurement method. Corgenix has developed the AspirinWorks(R) test kit, comprised of the components necessary to perform the quantitative measurement.
Based on results obtained from the Heart Outcomes Prevention Evaluation (HOPE) Study published in the March 25, 2002 issue of Circulation(1), the patent approval covers the ability of the AspirinWorks(R) Test Kit* to assess a patient's resistance to the anti-clotting effects of aspirin and also to assess the risk of a cardiovascular event (heart attack or stroke) in patients taking aspirin.
"This action by the U.S. Patent Office is a testament to our innovation and the strength of our strategic partnerships," said Douglass Simpson, Corgenix President and Chief Executive Officer. "Furthermore, it reinforces our strong expectations for this product following its recent submission for FDA pre-market clearance in the U.S."
The AspirinWorks(R) Test Kit - the Company's newest diagnostic product for cardiovascular disease - is a simple urine test that measures an individual's response to aspirin dosage and allows physicians to adjust the dosage or recommend alternative therapy. Recent reports indicate that up to 25 percent of individuals may be non-responsive to aspirin's benefits, and are more than three times more likely to die from heart disease.
Under terms of a license agreement with McMaster, Corgenix and CCC have exclusive worldwide rights to the proprietary technology owned by McMaster for the development, manufacturing and marketing of innovative diagnostic tests specific to the pathway by which aspirin acts on platelets. Corgenix recently submitted a Premarket Notification (510k) to the U.S. Food and Drug Administration (FDA) for the AspirinWorks(R) Test Kit.
The AspirinWorks(R) Test Kit is a quantitative enzyme-linked immunoassay (ELISA) to determine levels of 11-Dehydro Thromboxane B2 (11dhTxB2) in human urine, which aids in the assessment of the response to aspirin. The kit was launched internationally in July at the 52nd Annual Scientific and Standardization Committee of the International Society on Thrombosis and Haemostasis held in Oslo, Norway.
The AspirinWorks(R) product was developed in conjunction with Corgenix' strategic partners, Creative Clinical Concepts (CCC), a Denver based biotechnology company, and Cayman Chemical Company (Cayman), an Ann Arbor, Michigan manufacturer of biochemical research products. Corgenix and CCC have previously announced collaboration with McMaster University (McMaster), Hamilton, Ontario.
The McMaster technology includes several patents pending in the United States, Canada and Europe, and has received notice of allowance of the first of the U.S. patent applications. In addition to licensing the McMaster technology, Corgenix also has a U.S. patent pending on the AspirinWorks(R) product.
*The AspirinWorks(R) Test Kit has not been cleared by the FDA for in vitro diagnostic use in the United States. In all countries where the use of this product has not been cleared, the product shall not be used for diagnostic use as the performance characteristics have not been established.
About Corgenix Medical Corporation
Corgenix is a leader in the development and manufacturing of specialized diagnostic kits for immunology disorders, vascular diseases and bone and joint disorders. Corgenix diagnostic products are commercialized for use in clinical laboratories throughout the world. The company currently sells over 50 diagnostic products through a global distribution network and has significant experience advancing products through the FDA process. More information is available at http://www.corgenix.com.
Statements in this press release that are not strictly historical facts are "forward looking" statements (identified by the words "believe", "estimate", "project", "expect" or similar expressions) within the meaning of the Private Securities Litigation Reform Act of 1995. These statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, changes in the regulatory environment, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. The statements in this press release are made as of today, based upon information currently known to management, and the company does not undertake any obligation to publicly update or revise any forward-looking statements.
(1) Eikelboom, et al. Circulation. 2002;105:1650-5.
KEYWORD: NORTH AMERICA COLORADO UNITED STATES INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY CARDIOLOGY PRODUCT/SERVICE SOURCE: Corgenix Medical Corporation
CONTACT INFORMATION: Corgenix Medical Corp. William Critchfield, 303-453-8903 wcritchfield*corgenix.com or Investors: The Investor Relations Group Dian Griesel or Erika Moran, 212-825-3210 Fax: 212-825-3229 or Media Relations: Armada Medical Marketing Dan Snyders, 303-623-1190 x 230 dan*armadamedical.com
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CBCL - .004
CyberTel Capital Releases Audited Financial for HBLN Services Which Completes the Acquisition of HBLN as a Wholly Owned Subsidiary of Cybertel Capital Corporation PR Newswire - August 21, 2006 09:01
SAN DIEGO, Aug 21, 2006 /PRNewswire-FirstCall via COMTEX/ -- CyberTel Capital Corporation (OTC Bulletin Board: CBCL) released last Friday the audited financial statements for HBLN Services, Inc. of Atlanta, Georgia. CBCL acquired 100% interest in HBLN Services, which now operates as a wholly owned subsidiary of the company. In 2005, its sixth year of operation, HBLN generated $410,892 in sales revenues and a gross profit of $141,778. Net income for the company in 2005 was $106,076. More information can be found in the Form 8K the Company filed with the Security and Exchange Commission on August 18, 2006.
A specialty consulting and management firm offering full service capabilities in the wireless, telecommunications and broadband businesses, HBLN works with clients to develop and deploy WiMAX broadband services for service providers, large and small with its select group of consultants, vendor partners and key relationships within the telecommunications and venture capital community.
Stated James Wheeler, CEO of CyberTel Capital, "The WiMAX market will grow at double-digit rates for the next several years. The expertise that HBLN Services has developed is needed by early market entrants to succeed with their investments."
Stated Walt Henley, President of HBLN Services, "We are currently advising leading industry service providers on business plans, technology selection and operations support systems for large-scale WiMAX deployments. With recent announcements by Sprint and Clearwire regarding their investments, we are confident that we have a large opportunity."
About HBLN Services
HBLN Services provides support for business development including the people, processes and technologies required to successfully deploy and operate networks of all kinds. HBLN provides business planning, development, engineering and deployment assistance from a base of experienced consultants across multiple disciplines. More information on HBLN Services can be found by visiting its web site at http://www.hblninc.com
About CyberTel Capital Corporation
CyberTel Capital Corporation is a holding company with interests in areas of telecommunications, data management, information systems and public safety communication and response solutions. CyberTel trades on the OTC Bulletin Board under the ticker symbol CBCL.
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statement of CBCL officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future CBCL actions, which may be provided by management, are also forward-looking statements defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the CBCL to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and CBCL has no specific intention to update these statements.
SOURCE CyberTel Capital Corp.
James Wheeler of CyberTel Capital Corp., +1-858-646-7410, investor*cbclinc.com
Copyright (C) 2006 PR Newswire. All rights reserved.
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TMLN 0.65 announced that it has terminated a limited license to Microsoft Corporation
SEATTLE, Aug. 21, 2006 (PRIMEZONE) -- Timeline, Inc. (OTCBB:TMLN) announced that it has terminated a limited license to Microsoft Corporation (Nasdaq:MSFT) under Timeline's patents. In conjunction with the termination of the license, Timeline has filed a motion in federal district court in Seattle asking the court to add Microsoft as a defendant in Timeline, Inc. v. ProClarity Corp.
In the new complaint, Timeline alleges that Microsoft SQL Server infringes Timeline's patents by creating databases for on line analytical processing (OLAP). The new complaint also alleges that Microsoft breached the terms of a 1999 agreement that gave it a limited license under Timeline's patents. The scope of the license in the 1999 agreement was previously the subject of extensive litigation between the parties. In 2002, a final decision of the Washington Court of Appeals held in Timeline's favor. That decision confirmed the license does not cover infringing combinations of non-Microsoft products and Microsoft products where the non-Microsoft product supplies a material element of the patent claim.
"The cash component paid by Microsoft under the 1999 agreement was only a portion of the total consideration," said Charles Osenbaugh, CEO of Timeline. "Microsoft failed to honor the limited scope of the license as decided by the Court of Appeals. It also failed to comply with other important provisions of the agreement. Because Microsoft has so clearly disregarded its obligations under the agreement, Timeline believes it is within its rights to terminate the license and seek damages for infringement of its patents."
The grounds for termination and the reasons for bringing Microsoft into the case are set forth in greater specificity in papers filed with the Court. Timeline is required to file them under seal until and unless the Court decides they can be unsealed. Consequently, Timeline cannot comment beyond what is set out in this press release at this time.
Timeline is represented by Rohde & Van Kampen P.L.L.C. and Susman Godfrey L.L.P. in this matter.
About Timeline
After 28 years of developing, marketing and supporting innovative software applications, Timeline, Inc. recently reorganized around a dedicated effort to license its intellectual property to the industry at large. In 2005 it completed the sale of its European subsidiary and the assets of its applications line of business. The company believed it was an inherent conflict of interest to market patented intellectual property to companies with which it competed on a day to day basis for end user software licensees. By selling the applications business, the company is now solely focused on commercializing its patent portfolio. This effort is intended to maximize shareholder value and to allow the benefits of its prior innovations to reach a far greater audience than was possible through its own limited resources. Timeline can be reached at 206-357-8422 or on the web at www.tmln.com. The vast majority of these patents involve the automation of building and using data marts and warehouses with structures optimized for analysis on data originally housed in source on line transaction data stores. These 'pioneer' patents have been licensed to many of the thought leaders in analytic reporting including, among others, Oracle, Microsoft, Hyperion, Cognos, Group One, and Crystal (now Business Objects).
CONTACT: Timeline, Inc. Charlie Osenbaugh, CEO Paula McGee, Investor Relations (206) 357-8420
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TRSI 0.03 increase its involvement in oil field redevelopment projects in the Southwestern region of the U.S
CARLSBAD, Calif.--(BUSINESS WIRE)--Aug. 21, 2006-- Trophy Resources, Inc. (Pink Sheets:TRSI) is planning to increase its involvement in oil field redevelopment projects in the Southwestern region of the U.S. The Company is currently evaluating multiple prospects that show significant potential in oil reserves in the Southwest as well as Appalachia. Eric Leonetti, Trophy Oil COO: "With the price of crude oil maintaining its value in the mid to low $70s, we believe this is the right time to explore more oil field redevelopment projects." Trophy Oil is focused on the most cost-effective means of oil exploration, including the use of water and inert gas flood methods to reinvigorate once productive fields. Added Mr. Leonetti: "the rework and flood programs using existing wells provides more profit potential to investors than new drilling; it is less capital intensive, there is a higher probability of success as a result of historical records of oil production, and, the return on investment is achieved earlier." Trophy Resources assesses all projects on the basis of defined investment criteria including the preservation of capital and mitigation of risk.
About Trophy Resources
Trophy Resources, Inc. (www.trophyoil.com) is a publicly traded company dedicated to building a diverse portfolio of high value, low risk energy and mining projects. The Company's goal is to evaluate profitable options, build a solid foundation of assets through acquisition of land and/or leases, and explore and develop opportunities on these leases.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. Trophy Resources, Inc. is an exploration with limited experience in the oil and gas industry. At the time of this release Trophy Resources lacks the financial capabilities to meet its financial obligations and its management expects to dilute the company's shares to raise the necessary operating capital. Based upon industry standards Trophy would be considered highly speculative and lacks any competitive advantage over its competition. Additional risks you should consider, this list is limited and additional risk not mentioned may apply: failure to meet Trophy's financial and contractual obligations, Trophy's managerial errors made based upon the Company's limited experience and knowledge of the industry, commodity risk, acts of God and regulatory risk. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.
KEYWORD: NORTH AMERICA CALIFORNIA TEXAS UNITED STATES INDUSTRY KEYWORD: ENERGY OIL/GAS PRODUCT/SERVICE SOURCE: Trophy Resources, Inc.
CONTACT INFORMATION: Trophy Resources Eric Leonetti, 866-284-8617 or Trophy's Investor Relations Firm D P Martin & Associates Doug Martin, 561-514-0196
Posted by cottonjim on :
NEW YORK--(BUSINESS WIRE)--Aug. 21, 2006--Buysellmerge.com, a division of First Guardian Financial Corporation (Pink Sheets: FGFC - News) today announced the status and progress directed toward the much anticipated launch date of its premier business portal. ADVERTISEMENT
The company has recently moved some of its hosting servers to eapps Business Application Solutions http://eapps.com/Company/AboutUs.jsp as this will allow the company the additional applications that are required for a portal of this complexity.
The company decided on eapps.com to provide the following additional hosting and applications for the portal Advanced Plus VPS - Ruby/Java/LAMP, Apache 2.0.52, Apache module mod perl, Apache module mod ssl, imap, IPTables, J2RE, J2SDK, JBoss4, Mod Jk, MySQL Server v5, Control Panel, SSH and other certain administrative functions and applications.
The company has also acquired a license for a SSL Cert from Verisign Secure, that is required for an interactive portal of this magnitude. VeriSign Inc operates intelligent infrastructure services that enable and protect billions of interactions every day across the world's voice and data networks. Every day, we process as many as 18 billion Internet interactions and support over 100 million phone calls. We also provide the services that help over 3,000 enterprises and 500,000 Web sites to operate securely, reliably, and efficiently. VeriSign is a global enterprise with offices throughout the Asia-Pacific region, Europe, Latin America, and North America, supported by a widespread international network of data centers and operations.
The company has been working on a fierce fast track basis including this past weekend to get the portals phase one completed and rolled out by this week so that pre official launch tests can be completed, and to work out any technical problems over the internet that may occur, with phase two and three to be added quickly upon satisfactory function ability.
"We are very pleased with the efforts of Dr. Cheng and Mr. Mohamed and their development team with the commitment to this project and their determination to be the outstanding business portal on the World Wide Web. We envision Buysellmerge.com to be to the business world what Yahoo and Google are to the retail & consumer market," said Abraham Rosenman, President First Guardian Financial Corporation
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UTYW 0.11 has received a US$400,000 purchase order
BURNABY, BC -- (MARKET WIRE) -- 08/21/06 -- Unity Wireless Corporation (OTCBB: UTYW), a supplier of wireless systems and coverage-enhancement solutions, has received a US$400,000 purchase order for a variety of the Company's GSM Repeaters from a wireless network operator in Turkey. The order is scheduled to be delivered in the current quarter.
Ilan Kenig, President and CEO of Unity Wireless commented, "We are pleased to see that following our recent acquisitions our repeater product line is gaining recognition in new territories and with new clients around the world. Unity is now positioned as a global-based company with physical operations in several countries around the world, including the USA, Canada, Israel, China, South America, India, the UK, and Taiwan. Our increased ability to support our clients is expected to positively impact our top and bottom lines this year."
Mr. Kenig added, "We are focused intently on driving our sales higher, maximizing product line opportunities and channel partner relationships. With the broader product offering we now have, we expect orders such as this one will become a very frequent event."
Each of these repeaters provide exceptional coverage due to their low noise figures and high gain, while having minimal impact on the donor cell, using wide range gain control for performance optimization. Hermetically sealed enclosures, integrated electronics and built-in test and recovery capabilities also make these repeaters extremely reliable. Additional features include auto level control for power overload protection and an SMS-based NMS (Network Management System) tool that can allow network operators to monitor and control the repeaters remotely through an internal wireless modem.
"The global sales team and distribution network we now have as a result of our recent acquisitions are directly responsible for this order," said David Orton, Vice President, Sales - Coverage Solutions. "After bidding in an open tender to supply this new customer we expect that this will likely be the first of many substantial orders that we will receive this year."
Repeaters are used by operators of wireless networks to fill-in gaps in their coverage areas where the cost to install an entire base station and its related infrastructure is prohibitive. Unity Wireless offers a full range of repeaters in multiple configurations, serving operators of CDMA, GSM and WCDMA (UMTS) networks in 800, 900, 1800, 1900 and 2100 MHz bands. The Company intends to offer additional product lines to support the deployment of WiMax networks using OFDM modulation.
About Unity Wireless
Unity Wireless is a supplier of wireless systems and coverage-enhancement solutions for wireless communications networks. For more information about Unity Wireless, visit www.unitywireless.com.
Forward-Looking Statements
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "feel," "plan," "anticipate," "project," "could," "should" and other similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. These forward-looking statements are subject to a number of risks and uncertainties including, without limitation, inability to raise the funds necessary for the continued operations of the Company, changes in external market factors, and other risks and uncertainties indicated in the Company's most recent SEC filing on form SB-2. Actual results could differ materially from the results referred to in the forward-looking statements.
Investor Contact: James Carbonara The Investor Relations Group (212) 825-3210
Mike Mulshine Osprey Partners (732) 292-0982 osprey57*optonline.net
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VYST (.093)
BALTIMORE, MD -- (MARKET WIRE) -- 08/21/06 -- View Systems, Inc. (OTCBB: VYST), -- Working to provide corporate customers with the most technologically advanced walk-through Concealed Weapons Detection Systems, T&M Protection Resources and View Systems today announced a strategic alliance to deliver View Systems-branded Concealed Weapons Detectors to T&M's existing and prospective corporate customers.
T&M Protection Resources is a leading New York-based, multi-disciplined security firm providing a comprehensive array of solution-based services to a growing list of prestigious corporate, financial, institutional and private high net-worth clients to enable them to meet the challenges posed by today's threats and risks. The company's offerings include Security Technology Solutions, Forensic Investigations, Executive Protection, Uniformed Physical Security, Explosive Detection Canine Services, Technical Surveillance Countermeasures and Security Consulting.
As part of the alliance, T&M's current and prospective corporate customers will be introduced to View Systems' Concealed Weapons Detectors through T&M sponsored customer meetings, live demonstrations, webinars, and exclusive customer forums that will be held at selected locations in New York City. T&M's current portfolio of security services will be complemented with View Systems' Concealed Weapons Detectors which will be displayed in all of T&M's marketing materials including on its website.
"T&M's goal is to offer the most compelling and technologically advanced weapons detection systems to our customers," said Robert Tucker, Chairman and Chief Executive Officer of T&M. "We explored a range of alternatives to deliver the best weapons detectors on the market and concluded that View Systems' Concealed Weapons Detectors are the best by far. By partnering with View Systems, we have the opportunity to offer greater value to our customers by integrating View Systems' weapons detectors with T&M's existing and diverse portfolio of security solutions."
View Systems' easy-to-use software displays and tracks persons who are carrying concealed weapons, greatly simplifying the process for discriminating between suspicious objects and harmless ones. Its highly sensitive completely passive sensor technology accurately detects the location and number of concealed weapons such as knives, guns, and razor blades. Simultaneously, it ignores personal artifacts such as coins, keys, and belt buckles. View Systems' open PC-based platform and network capabilities allow for fast and easy system integration; this can include closed circuit television, two-way audio, door interlocks, access control systems, and biometric identification systems.
"View Systems' goal is to strategically sell its weapons detection technology to New York-based large prestigious organizations like investment banks, class A buildings and other high profile facilities that could benefit from its Concealed Weapons Detection Systems," said Gunther Than, View Systems' CEO. "By partnering with T&M, an innovative diversified security services company with a stellar reputation for excellent service as well as an existing and established portfolio of strong customer relationships in New York City, we are confident that we will meet our strategic objectives. T&M's current client list contains a good portion of the Fortune 1000, many of which are headquartered in New York City," Mr. Than concluded.
About View Systems, Inc.
View Systems, Inc. provides security and surveillance products to law enforcement facilities such as correctional institutions as well as to government agencies, schools, courthouses, event and sports venues, the Military, and commercial businesses. View Systems has a network of distributors, licensees and strategic alliance affiliates. View Systems designs and develops concealed weapons detection (CWD) portal systems with biometric capabilities, as well as a camera system geared towards emergency first responders.
About T&M Protection Resources, Inc.
More information about T&M is available at http://www.tandmprotection.com or via its New York headquarters office at 212-422-0000. All customer inquires should be directed to Paul Berger, Vice President of T&M's Technical Security Solutions Division at 516-876-0001.
Forward-Looking Statements
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.
RPTN 0.38 has partnered with Advanced Computer Engineering Services
SANTA ANA, Calif., Aug. 21 /PRNewswire-FirstCall/ -- Raptor Networks Technology, Inc. (OTC Bulletin Board: RPTN) is pleased to announce that it has partnered with Advanced Computer Engineering Services (ACES) to provide "distributed architecture" network products and upgrade services to the banking industry. (Logo: http://www.newscom.com/cgi-bin/prnh/20040429/RPTNLOGO ) "We pride ourselves in finding innovative, cost effective solutions for our clients," noted Phil Kenealy, President of ACES. "Now, with Raptor's highly unique networking products, we will be in a position to provide our clients industry-leading network capabilities at a surprisingly affordable price." Tom Wittenschlaeger, Chief Executive Officer of Raptor Networks, noted, "We are very pleased to join ACES in targeting the banking vertical. We believe our unique RAST technology, allowing geographically dispersed bank branches to be securely connected onto a common high speed core is a sensible upgrade applicable to virtually all financial institutions." About Raptor Networks Technology, Inc. Raptor Networks Technology, Inc. has developed the world's first distributed network switching architectures, all standards based, that benefit networks that provide newer latency-sensitive services such as video, VOIP, high speed storage and the like. This patent-pending Distributed Network Switching Technology blurs the distinction between core switching and edge switching, enabling network build outs and performance upgrades of traditional chassis-based installations in a highly cost effective manner. Management believes that the unique advantage Raptor provides is data transport at wire speed (the maximum speed at which the equipment is built to operate), providing the highest density 10 Gigabit wire speed offering currently on the market, with the versatility to run the most advanced new data applications. For additional information please see, www.raptor-networks.com. About Advanced Computer Engineering Services (ACES) ACES is an IT services company providing technology solutions to Small and Medium sized businesses and organizations since 1995. ACES provides targeted technology solutions to enhance business productivity and reduce overall IT costs. ACES professionals provide systems engineering, installation and support for a breadth of IT and networking needs, including servers, firewalls, routers, switches and personal computers. Services are tailored to each businesses' core infrastructure requirements, with an eye towards productivity enhancement. More information is available at www.acesiowa.com Safe Harbor Statement The statements in this release relating to future product availability, collaboration and partnership, and positive direction are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Some or all of the aspects anticipated by these forward-looking statements may not, in fact, occur. Factors that could cause or contribute to such differences include, but are not limited to, contractual difficulties, demand for Raptor Networks' products, the future market price of RPTN common stock and the Company's ability to obtain necessary future financing. Contacts: Raptor Networks Technology, Inc. Tom Wittenschlaeger/Bob Van Leyen Tel: 949-623-9300 SOURCE Raptor Networks Technology, Inc.
Contact Information: Tom Wittenschlaeger, or Bob Van Leyen, both of Raptor Networks Technology, Inc., +1-949-623-9300
GRWW 0.47 executed an agreement with Michael O'Leary
HERTFORD, N.C., Aug. 21 /PRNewswire-FirstCall/ -- Greens Worldwide Incorporated (OTC Bulletin Board: GRWW) announced today that it has executed an agreement with Michael O'Leary, to manage the newly formed PLAYERS TOUR -- CALIFORNIA SERIES, North and South regionals, a wholly owned subsidiary of Greens Worldwide. The Players Tour -- California Series will be launched for 2007 as two of the 7 regional tours of the US Pro Golf Tour, a wholly owned subsidiary of Greens Worldwide. www.usprogolftour.com . The other regional tours of the USPGT to be launched in 2007 are Players Tour, Florida Series, New England Players Tour www.neprogolftour.com , Tight Lies Players Tour, East, Tight Lies Players Tour, West, www.tightliestour.com , and the Tar Heel Players Tour, Carolina Series, www.tarheeltour.com . Mr. O'Leary currently owns and operates the Golden State Golf Tour. The Golden State Tour is Southern California's longest running developmental golf tour, providing a training ground for aspiring professional golfers over the last 24 years. "The addition of Mike and his staff, who successfully operate the Golden State Tour, to the management of the 'PLAYERS TOUR -- California Series' regional tours of the USPGT is incredibly exciting. The operation of the Golden State Tour over 24 years in the industry is unparalleled, and we feel very fortunate that they have joined the Greens family in this management role. Greens Worldwide has been able to assemble significant talent and operating experience of some of the top Tour operators in the country, and certainly Mike and his staff at Golden State Tour fit into that category, having operated the predominate tour in California in the recent past. I, as well as the entire staff and management of Greens Worldwide, look forward to working with Mike and his staff in the development of the PLAYERS TOUR -- California Series regional tours for 2007 and beyond," stated R. Thomas Kidd, CEO of Greens Worldwide Incorporated. "We are excited about the opportunity of managing the PLAYERS TOUR -- California Series and building our relationship with the USPGT and the other regional tours. This vision of the management at Greens Worldwide is not only providing a great training ground for the PGA Tour, but allowing these talented players to earn a living at this level," O'Leary states. About the Golden State Tour: The Golden State Tour was formed in 1982 and has consistently provided aspiring professionals a competitive place to play for the last 24 years. Based in Southern California, the GST is able to provide these competitive events on a year round basis. The tour changed ownership in 2004 as one generation retired and a new owner, Michael O'Leary, changed the mentality of the tour. A former Head Golf Professional and a former mini-tour player himself, Michael understood both sides of his business ... the golf course needs in preparing for events and the perspective of the mini-tour professional. The Golden State Tour's history is long and distinguished and its association with PGA Tour players is second to none as hundreds of players have participated in Golden State Tour events before achieving their goal ... Mark O'Meara, Fred Couples, John Cook, Jim Furyk, Tom Lehman, Scott McCarron, Jason Gore, Steve Pate, Kirk Triplett, Pat Perez, Jeff Gove are just a few. In 2005, seven (7) GST players qualified for the US Open. About Greens Worldwide Incorporated Greens Worldwide Incorporated is a vertically integrated sports marketing and management company, engaged in owning and operating sports entities and their support companies and is publicly traded under the stock symbol GRWW. Our current operating subsidiaries are the US Pro Golf Tour, Inc. www.usprogolftour.com , Breakthru Media, Inc. www.breakthrumedia.com , Crowley and Company Advertising, Inc. www.crowleyadvertising.com , New England Pro Tour, Inc. www.neprogolftour.com , Still Moving, Inc. www.still-moving.com , Las Vegas Golf Schools, Inc. www.gotogolfschool.com , and American Challenge Golf Tour www.acgtour.com . In our continuing effort to develop a more cohesive and synergistic organization, we are structured in a way that allows all of our wholly owned subsidiaries to utilize each other's resources to the greatest extent possible. In addition, the Company's strategic plan is to be able to deliver substantial value by providing multiple sports platforms and media to leverage our partners advertising and promotional dollars, while delivering the finest entertainment opportunities to retain and build customers. For our non-sports businesses, we will utilize the media and promotional benefits of our media platforms in Television, Radio, and Print, together with Internet Television and other like strategic relationships, to grow our consolidated revenues. The Company intends to continue its strategy of acquiring profitable sports organizations and sports related firms, together with other businesses that would benefit from the synergy the Company provides. www.grwwsports.com Important Information About Forward-Looking Statements The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created thereby. Forward-looking statements deal with the Company's current plans, intentions, beliefs and expectations. Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. Contact Tom Kidd Chief Executive Officer 252.264.2064 SOURCE Greens Worldwide Incorporated
Contact Information: Tom Kidd, Chief Executive Officer of Greens Worldwide Incorporated, +1-252-264-2064
BKYI (.419)Fingerprint Software Aids in Identification of Refugees for South African Government
WALL, N.J., Aug. 21 /PRNewswire-FirstCall/ -- BIO-key International, Inc. (OTC Bulletin Board: BKYI), a leader in finger-based biometric identification and wireless public safety solutions, along with Biometric Technologies South Africa, a BIO-key partner and provider of biometric identification solutions, have successfully deployed a fingerprint identification system as part of South Africa's Department of Home Affairs Refugee Program.
In the initial implementation of a program launched by the South African Government, five centers have been opened to enroll an initial 100,000 refugees utilizing the BIO-key/Biometric Technologies system known as the South African Refugee and Asylum Seekers Biometric Identification System. Many refugees from all over Africa lack identification documents recognized by the HANIS system currently used by the government. The Biotech/BIO-key solution enables the refugees to register with the government using unique identifiers (fingerprints and photographs) as part of their application for seeking asylum in South Africa. This process includes the issuance of an identification document which helps reduce the refugees' vulnerability to refusal of services and other forms of discrimination.
The Biotech/BIO-key identification system has been operating for over a year as part of a pilot program monitored by the United Nations High Commissioner for Refugees (UNHCR). The core of the identification process is built around WEB-key(R), BIO-key's scalable client/server software that provides rapid, accurate user identification with the touch of a finger. Edwin Dreyer, Biometric Technology's Managing Director added: "One of the challenges we face is updating the existing records for 46 million people into a single database accessible to all authorized governmental organizations: such as the criminal justice system; the population records of births, deaths, marriage passports, driver's licenses etc. This is a major long-term challenge, and we are leveraging our successes -- in this small but significant sector -- in the refugee identification program to tackle even greater projects within the government and in private industry."
The Minister of Home Affairs of South Africa, Nosiviwe Mapisa-Nqakula, stated, "At Home Affairs, we recognize the importance and central role we play to enable other departments of government, private sector and public at large to function effectively and without hindrance. The biometric identification software provides us with the ability to quickly and efficiently capture the identity of refugees as part of our commitment to clear the backlog of refugees who have applied for asylum."
"Government agencies are expanding their adoption of BIO-key technology to deliver scalable solutions for identifying individuals within large populations. Our advanced fingerprint solutions are rapidly becoming the new standard for accurate identification ... a more secure and convenient alternative to identify people in place of traditional paper documents, card based systems or expensive AFIS solutions," said BIO-key CEO Mike DePasquale.
About BIO-key
BIO-key develops and delivers advanced identification solutions and information services to law enforcement departments, public safety agencies, government and private sector customers. BIO-key's mobile wireless technology provides first responders with critical, reliable, real-time data and images from local, state and national databases. BIO-key's high-performance, scalable, cost-effective and easy-to-deploy biometric fingerprint identification technology accurately identifies and authenticates users of wireless and enterprise data to improve security, convenience and privacy and to reduce identity theft. Over 2,500 police, fire and emergency services departments in North America use BIO-key solutions, making BIO-key the leading supplier of mobile and wireless solutions for public safety worldwide. (http://www.bio-key.com )
About Biometric Technologies
Biometric Technologies has been a BIO-key partner for 4 years and has represented BIO-key's WEB-key technology throughout Africa and Europe. Biometric Technologies has formed vital alliances with Oracle, Sybase, HP and most of the hardware suppliers to ensure seamless integration of WEB-key's software with all existing legacy systems, including the open source Linux technology.
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of these statements. The words "estimate," "project," "intends," "expects," "believes" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. For a more complete description of these and other risk factors that may affect the future performance of BIO-key International, see "Risk Factors" in the Company's Annual Report on Form 10-KSB and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company also undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events. For more information:
Press Contact:
Julie Garand
508-460-4036
julie.garand*bio-key.com
Investor Contact:
Gus Okwu
Dennard Rupp Gray & Easterly, LLC
713-529-6600 (Houston Office)
gokwu*drg-e.com
SOURCE BIO-key International, Inc.
Contact Information: press, Julie Garand of BIO-key International, Inc., +1-508-460-4036, or julie.garand*bio-key.com ; or investors, Gus Okwu of Dennard Rupp Gray & Easterly, LLC, +1-713-529-6600, or gokwu*drg-e.com , for BIO-key International, Inc.
Posted by portman on :
Lifeline Biotechnologies, Inc. Acquires Minority Interest in TrendSetter Solar Products, Inc. Valued at $600,000
By Market Wire Last Update: 8/21/2006 8:31:33 AM Data provided by
RENO, NV, Aug 21, 2006 (MARKET WIRE via COMTEX) -- Lifeline Biotechnologies, Inc. (PINKSHEETS: LBTN) announced today that it has acquired a minority interest in TrendSetter Solar Products, Inc. (PINKSHEETS: TSSP), a quality manufacturer of state-of-the-art, solar hot water heating and storage systems in the United States.
Lifeline received approximately 8.3 million shares of TrendSetter Industries which represents more than $600,000 in total value which will be added to the company's balance sheet. The acquisition of TrendSetter is part of Lifeline's strategy to increase shareholder value by improving its asset valuation and issuing dividends to its shareholders.
Lifeline recently announced that all shareholders of record will receive a stock dividend in Solos Endoscopy (SLSE) shares payable on September 29, 2006.
"This acquisition of a minority interest in TrendSetter Solar Products, Inc. is another major step in the execution of our diversification strategy. TrendSetter is an exciting, environmentally friendly company with a unique product that is becoming more necessary every day," stated Jim Holmes, CEO of Lifeline Biotechnologies, Inc.
TrendSetter Solar Products' solar hot water systems and storage tanks are uniquely positioned to serve the residential and commercial market because the Company offers a full range of systems that are rated to take advantage of the new federal energy tax credit program. Tax Credits (http://www.energystar.gov/index.cfm?c=products.pr_tax_credits) are available at a 30% credit for up to $2,000 for the purchase and installation of solar electric and solar water heating systems. In addition, yearly operating costs are low because solar electricity needs very little maintenance, very few spare parts, and no fuel. Information about TrendSetter can be obtained from their website at: www.trendsetterindustries.com.
About Lifeline Biotechnologies, Inc.:
Lifeline Biotechnologies develops and acquires undervalued companies which have innovative technology in the medical, nutraceutical, and energy industries, to increase the growth of the Company. Lifeline Biotechnologies continues to seek out and capitalize on emerging technologies that will change the medical, nutraceutical, and energy community.
More information is available at the company's website: www.lbtn.com.
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
SOURCE: Lifeline Biotechnologies, Inc.
Posted by J_U_ICE on :
AEDU (.54) Declares 1-for-2000 Reverse Stock Split Followed Immediately by 100-for-1 Forward St Business Editors / Education Writers
OKLAHOMA CITY--(BUSINESS WIRE)--Aug. 21, 2006-- The American Education Corporation (OTCBB:AEDU) today announced that the 1-for-2,000 reverse stock split (the "Reverse Split") which was approved by the Company's board of directors on June 15, 2005 will become effective at the close of business on September 1, 2006 (the "Effective Date"). September 1, 2006 will also be the record date for the Reverse Split.
As a result of the Reverse Split, on the Effective Date each holder of common stock will receive one share for each 2,000 shares they hold immediately prior to the Effective Date. Those stockholders who, immediately following the Reverse Split, would hold only a fraction of a share of the Company's common stock will, in lieu thereof, be paid an amount, in cash, equal to $1,100 times such fraction of a share (or $0.55 per share of pre-Reverse Split common stock) and will no longer be stockholders of the Company. Stockholders who receive cash in lieu of fractional shares will be entitled to dissenters' appraisal rights for the "fair value" of their fractional share under Nevada law.
Immediately after the completion of the 1-for-2,000 Reverse Split, the Company will conduct a 100-for-1 forward stock split for those stockholders who, following the Reverse Split, continue to hold at least one (1) whole share of Company common stock (the "Forward Split"). September 1, 2006 will also be the record date and the Effective Date for the Forward Split. The Company will not issue any fractional shares of stock as a result of the Forward Split. Each stockholder who would otherwise be entitled to a fractional share of common stock of the Company following the Forward Split will, in lieu thereof, be paid an amount in cash equal to $11.00 per share multiplied by such fraction.
As soon as practicable after the Effective Date, the Company's exchange agent, UMB Bank, n.a., will mail letters of transmittal to the Company's stockholders on the Effective Date, which will describe the procedures for surrendering stock certificates in exchange for cash consideration or for a new certificate representing the Company's shares post-Reverse Split and Forward Split. In order to receive the cash consideration or a new stock certificate, holders of the Company's stock certificates must deliver their stock certificates and a properly completed letter of transmittal to the Company's exchange agent, UMB Bank, n.a., Securities Transfer Division, 928 Grand Blvd., 5th Floor, Kansas City, MO 64106. Upon receipt of the stock certificates and properly completed letters of transmittal, the exchange agent will, within approximately 20 business days, make the appropriate cash payment and, where applicable, deliver the new stock certificates to the remaining stockholders of the Company. No interest will accrue on the cash consideration payable pursuant to the terms of the Reverse Split or the Forward Split.
Following the consummation of the Reverse Split and the Forward Split, the Company will have less than 300 stockholders of record and intends to file a Form 15 with the Securities and Exchange Commission electing to terminate the registration of its common stock pursuant to Section 12(g) of the Securities Exchange Act of 1934 (the "Exchange Act"). Upon termination of its registration pursuant to Section 12(g) of the Exchange Act, the Company will cease filing the reports required by the Exchange Act.
The Company's Java-based technology, the A+nyWhere Learning System Versions 3.0 and 4.0 of educational software products, provides for an integrated offering of grade levels 1-12 software for Reading, Mathematics, Language Arts, Science, Writing, History, Government, Economics and Geography. In addition, the Company provides assessment testing and instructional content for the General Educational Development (GED) test. All company products are designed to provide for LAN, WAN and Internet delivery options and support Windows, UNIX and Macintosh platforms. The Company has developed a computer adaptive, companion academic skill assessment testing tool to provide educators with the resources to more effectively use the Company's curriculum content aligned to important state and national academic standards. Spanish-language versions are available for Mathematics and Language Arts for grade levels 1-8. The Company's curriculum content is aligned to the other third party digital resources such as the GoKnow's, Internet accessible science curriculum and reference materials, which may be accessed directly from A+LS lessons. The A+LS comprehensive family of educational software is now in use in over 12,000 schools, centers of adult literacy, colleges and universities, and correctional institutions in the U.S., UK and other international locations. A+dvancer, the Company's diagnostic, prescriptive test and online, postsecondary developmental curriculum offering, is aligned to ACCUPLACER On-Line, the leading college admissions test for students requiring developmental support to enroll in full credit secondary coursework in mathematics, reading, algebra and writing.
ACCUPLACER and ACCUPLACER On-Line are either trademarks or registered trademarks owned by the College Entrance Examination Board, New York, NY.
Note: Certain matters discussed above concerning the future performance of the Company are forward-looking statements intended to qualify for the safe harbors from liabilities established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified as such by words such as "if," "may," "believes," "anticipates," "plans," "expects" or words of similar import. The future performance of the Company is subject to a number of factors including, but not limited to, general economic conditions, competitive activity and funding available to schools. -0- THE AMERICAN EDUCATION CORPORATION 7506 BROADWAY EXTENSION OKLAHOMA CITY, OK 73116 1-800-34APLUS http://www.amered.com
KEYWORD: NORTH AMERICA OKLAHOMA UNITED STATES INDUSTRY KEYWORD: EDUCATION PRIMARY/SECONDARY TECHNOLOGY SOFTWARE FUNDING SOURCE: The American Education Corporation
CONTACT INFORMATION: The American Education Corporation, Oklahoma City Jeffrey E. Butler, 800-34APLUS or 800-222-2811 E-mail: jeb*amered.com URL: http://www.amered.com or Halliburton Investor Relations Geralyn DeBusk, 972-458-8000
Posted by MoneyMoneyMoney on :
CyberTel Capital Releases Audited Financial for HBLN Services Which Completes the Acquisition of HBLN as a Wholly Owned
SAN DIEGO, Aug. 21 /PRNewswire-FirstCall/ -- CyberTel Capital Corporation (OTC Bulletin Board: CBCL) released last Friday the audited financial statements for HBLN Services, Inc. of Atlanta, Georgia. CBCL acquired 100% interest in HBLN Services, which now operates as a wholly owned subsidiary of the company. In 2005, its sixth year of operation, HBLN generated $410,892 in sales revenues and a gross profit of $141,778. Net income for the company in 2005 was $106,076. More information can be found in the Form 8K the Company filed with the Security and Exchange Commission on August 18, 2006.
A specialty consulting and management firm offering full service capabilities in the wireless, telecommunications and broadband businesses, HBLN works with clients to develop and deploy WiMAX broadband services for service providers, large and small with its select group of consultants, vendor partners and key relationships within the telecommunications and venture capital community.
Stated James Wheeler, CEO of CyberTel Capital, "The WiMAX market will grow at double-digit rates for the next several years. The expertise that HBLN Services has developed is needed by early market entrants to succeed with their investments."
Stated Walt Henley, President of HBLN Services, "We are currently advising leading industry service providers on business plans, technology selection and operations support systems for large-scale WiMAX deployments. With recent announcements by Sprint and Clearwire regarding their investments, we are confident that we have a large opportunity."
About HBLN Services
HBLN Services provides support for business development including the people, processes and technologies required to successfully deploy and operate networks of all kinds. HBLN provides business planning, development, engineering and deployment assistance from a base of experienced consultants across multiple disciplines. More information on HBLN Services can be found by visiting its web site at http://www.hblninc.com Posted by J_U_ICE on :
GMED (.0186)Third Horse with Presumed West Nile Improves in 24 Hours
ST. LOUIS, Aug. 21 /PRNewswire-FirstCall/ -- GenoMed (Pink Sheets: GMED), a Next Generation Disease Management company that uses genomics to solve diseases in as many species as possible, today announced that the third horse in its expanded trial for West Nile virus encephalitis recovered markedly within 24 hours after starting GenoMed's treatment.
On Thursday afternoon last week, a horse owner in Fresno, California telephoned GenoMed to say that her horse was falling down. The horse had not been vaccinated for West Nile virus, and her veterinarian thought the horse had West Nile virus encephalitis.
Within 24 hours of the first dose of GenoMed's treatment, the horse was chasing the other horses away from his food, which they had been eating while he was sick.
West Nile virus encephalitis affects horses more severely than people, and the odds of recovery are slimmer. Like people, horses usually recover from viral encephalitis over at least a week. Recovery within 24 hours, like all three of GenoMed's horses, and most of GenoMed's human patients, is extremely unusual.
Said Dr. Moskowitz, GenoMed's CEO and Chief Medical Officer, "It's always thrilling to watch patients get better. All the evidence for our treatment for the past four years, in humans, birds, and now horses, has been extremely positive."
GenoMed's treatment success rate for WNV encephalitis in people is currently 87% (20 of 23 patients improved rapidly). A small case series involving the company's first 8 patients was published in a peer-reviewed medical journal in 2004.
About GenoMed
Anyone can download the West Nile virus protocol for humans and horses for free from GenoMed's website, http://www.genomed.com, at any time. An email address is required for clinical follow-up.
Safe Harbor Statement
This press release contains forward looking statements, including those statements pertaining to GenoMed, Inc.'s (the Company's) treatments. The words or phrases "ought to," "should," "could," "may," or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those projected in the forward looking statements as a result of a number of risks and uncertainties, including but not limited to our research and development being subject to scientific, economic, regulatory, governmental, and technological factors. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Unless otherwise required by applicable law, we specifically disclaim any obligation to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
SOURCE GenoMed
Contact Information: David W. Moskowitz MD of GenoMed, +1-314-983-9938, dwmoskowitz*genomed.com
IRXI (.26) to Launch Online Sports Exchange and Pursue Listing on OTC-BB Exchange Business Editors
LONDON--(BUSINESS WIRE)--Aug. 21, 2006-- INREEX, Inc., (Pink Sheets:IRXI) a Real Estate Prediction Exchange, is pleased to announce that preliminary research into launching an online sports exchange initiative for the marketplace has been completed and is in the final stages of testing. In addition, INREEX is also pursuing a 10SB filing, which will allow it to trade on the OTC-BB Exchange, upon approval.
The launch of a new sports exchange, scheduled for November 2006, is consistent with our business model while at the same time enabling us to penetrate a multibillion-dollar industry. This interactive online marketplace will allow for speculation in various sporting events using both long and short-term contracts. Profits are generated from the rise and fall of contract prices with short-term contracts receiving a payout every time the correct side of a particular wager is chosen. A distinctive feature of our exchange will be its peer to peer technology; with this members can experience the same excitement and liquidity that is witnessed in the stock market. The Sports Exchange will be targeted at International participants and will not allow US Residents or Citizens to place bets or participate in the exchange due to the regulation in that region.
An industry analysis released by the Research and Markets Group (RMG) said the Internet gambling market may reach $125 billion by 2015. The data was published in a report titled "The Online Gambling Market Research Handbook" according to which revenues from the online gaming industry could dwarf those of all the other Internet services estimated at $700 billion worldwide.
"This is a very exciting opportunity for INREEX given that the market appears to be very large and will not only be revenue producing, but will create considerable value for our shareholders. This opens up an enormous door into expanding our coverage into the online marketplace," said Paul Rozenberg, CEO of INREEX, Inc. "The synergies between our current business model and this online sports exchange model are immense, which led us to conclude that an online sports exchange would be a great addition to our current offerings."
As we have previously mentioned, INREEX continues to work towards increasing shareholder equity by becoming more transparent in its filings and financial statements. To that end we are pursuing a 10SB filing, which will allow us to trade on the OTC-BB Exchange, upon approval.
In addition to working on the aforementioned tasks, we continue to expand our current core business and intend to advance our position as an international real estate exchange. Over the last few months we have seen increasing interest and activity in the trading of our real estate contracts. Currently, INREEX allows for speculation in the U.S. real estate market; however we are working on expanding this market to include speculation on an international level.
About INREEX, Inc.
The INREEX (Pink Sheets:IRXI) is a real estate prediction exchange that lets investors take advantage of the fluctuations in the real estate market, without having to buy real property. With INREEX investors can experience the same excitement and liquidity of the stock market, while securing the benefits of real estate investing. The exchange is powered by peer to peer technology allowing for transparent and efficient trading 24/7 from virtually anywhere in the world. Ultimately, the INREEX could protect homeowners from a potential housing decline or just allow for efficient real estate speculation without the need to buy or sell actual real estate.
The information contained in this press release may include 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's uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The company's actual results could differ materially from those discussed herein.
KEYWORD: EUROPE NORTH AMERICA DISTRICT OF COLUMBIA UNITED KINGDOM UNITED STATES INDUSTRY KEYWORD: TECHNOLOGY INTERNET PROFESSIONAL SERVICES BANKING CONSULTING CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE SPORTS PRODUCT/SERVICE SOURCE: INREEX, Inc.
CONTACT INFORMATION: INREEX, Inc. Paul Rozenberg, 703-752-6138
or Press Inquiries: 877-4-INREEX press*inreex.com http://www.inreex.com Posted by J_U_ICE on :
LKRV .20
Let's Talk Recovery, Inc. (LTR) CEO Michael Mische Kicks off National Media Blitz with ``TECHLINK'' Interview
Business Wire - August 21, 2006 10:00
BEVERLY HILLS, Calif., Aug 21, 2006 (BUSINESS WIRE) -- Let's Talk Recovery, Inc. (Pink Sheets:LKRV), announced today that company CEO Michael Mische recently kicked off his national media rounds with an in-depth interview on the widely viewed entertainment-technology television show "TECHLINK."
Produced by Adelphia Communications, "TECHLINK" (www.techlinktv.com) airs in millions of homes throughout the Adelphia Channel Network and can be seen in several states including California, Colorado, Maine, Maryland, New Hampshire, New York, Ohio, and Vermont (check your local listings). The show's host and producer Tony Kinkella spoke at length with Mr. Mische about the magnitude of LTR's recovery-driven philosophy and acknowledged the company's acute forward thinking vision. During the interview, Mr. Mische had the entire studio's attention, as he broke down the importance of incorporating technology into every aspect of LTR's plan for taking recovery public. From their flagship weekly radio show, "Let's Talk Recovery" to their high impact strategy for infusing the recovery community with reliable and profitable brand, LTR is leaving no stone unturned as it takes all of recovery's untapped revenue streams and introduces the phenomenon to Wall Street.
Mr. Mische had this to say: "LTR is an innovative company that relies on high technology to enable its treatment programs and outreach to patients. The fact that the LTR vision and philosophy are being called 'cutting edge' by journalists like Mr. Kinkella tells us that we are exactly where we want to be. It is undeniable that a company as diverse as LTR will generate interest from the media; however, the most important goal we have is to open the eyes of those suffering to the fact that there are solutions available and LTR uses high technology to deliver those solutions. As a public company we are in a unique position to offer the investor more than just stock, we can offer them an opportunity to invest their money in the industry that provides hope and support to millions of people seeking recovery."
ABOUT LET'S TALK RECOVERY, INC.
Let's Talk Recovery, Inc. (Pink Sheets:LKRV) is a publicly traded company offering dynamic, socially responsible solutions to the rapidly growing recovery community. Targeting multiple addictions across all segments of the population, Let's Talk Recovery, Inc. specializes in developing content-rich, realistic, accurate, technologically advanced and highly customizable products and services designed to effectively help addicts, the healthcare profession and society to successfully recover.
Let's Talk Recovery, Inc. is organized into four distinct operating units: LTR Media Group -- including the LTR Radio Program, the LTR Radio Network, and other related media including television, print, and internet; LTR Operations Group -- including Facilities Acquisition, Ownership, Management and Shared Service Operations; LTR Services Group -- including Operational Consulting, Intervention Services and Seminar/Speaker Services; and LTR Educational Group -- including Educational Content Development, Recovery Practitioner's Network (RPN), Custom Programming and LTR University.
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 Let's Talk Recovery, 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.
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Tricell Announces $740 Million Revenue and $6.7 Million Profit For First Half of 2006
STAFFORDSHIRE, England, Aug 21, 2006 /PRNewswire-FirstCall via COMTEX/ -- Tricell, Inc. (OTC Bulletin Board: TCLL), today announced revenue for the first six months of $740.9 million. This compares to $276.8 million in revenue for the same period in 2005. Profit for first half of 2006 was $6,776,389, as compared to a net loss of $162,038 for the same period in 2005. The increase in revenue is the result of our expanded trading operations, which since June 30, 2005, includes the operations of our wholly owned subsidiary, Ace Telecom. Tricell's increased profit is the result of both our expanded operations, our reduced cost of capital, and a one time gain of $3,620,523 realized on net liabilities written off from liquidated subsidiaries. Tricell generated revenue of $357.4 million for the three months ended June 30, 2006 as compared to $220.5 million for the same period in 2005. Tricell's quarterly profit for the quarter ended June 30, 2006 was $1,769,382, as compared to a net loss of $74,930 for the same quarter last year. The significantly improved profitability in the second quarter of 2006 resulted primarily from Tricell internally financing a majority of its trading activities with cash flow from operations, whereas an external line of credit was used to finance operations for the second quarter of 2005.
Andre Salt, Tricell's CEO and Chairman, stated, "Our results through the first six months of 2006 and for the second quarter of 2006 are very satisfying and we look to continue this level of operations through 2006. We plan on building on our base of operations in 2007, including our projected expansion into the United States by the end of the 2007 second quarter. We are continuing to move forward with our plans to acquire N2J, which we hope will allow us to increase not only revenue, but our profit margin."
Tricell Inc. was established in 1999 as a distributor of mobile phones and related accessories to the wholesale markets in the UK, Europe, Middle East and Asia. For more information, please visit our website at http://www.tricellinc.com, or the SEC's Edgar filing system at http://www.sec.gov.
Disclaimer:
The above news release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). These statements are based on assumptions that management believes are reasonable based on currently available information. However, management's assumptions and the company's future performance are both subject to a wide range of business risks and external factors. There is no assurance that these goals and projections can or will be met.
SOURCE Tricell, Inc.
CONTACT: Jeff Nunn, Managing Director of Tricell, Inc., United Kingdom, +44 8707 532360, or Fax, +44 8707 532361, or Info*tricelldistribution.com
Copyright (C) 2006 PR Newswire. All rights reserved.
-0-
KEYWORD: Texas INDUSTRY KEYWORD: OTC CPR TLS SUBJECT CODE: ERN
Posted by J_U_ICE on :
CYBL 0.06
Cyberlux to Exhibit at the TREXPO East 8/21/2006
Suite of Emergency Management Products Presented to Key Audience
RESEARCH TRIANGLE PARK, N.C., Aug 21, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Cyberlux Corp. (OTC Bulletin Board: CYBL), a leading provider of LED lighting solutions, announced today that the company will showcase its line of emergency management products at the TREXPO (Tactical Response Exposition) East from August 22 - 24, 2006 at Dulles Expo & Conference Center in Chantilly, VA.
TREXPO East is the nation's most high profile exposition for tactical response equipment, technology, and services for law enforcement, military, security, and federal agencies. With a world-class conference, professional training sessions, a leading tradeshow displaying hundreds of exhibits featuring specialized equipment and services, and a live range, TREXPO East offers a complete forum for the tactical professional.
The Cyberlux Specialty Engineering Group will showcase the following products at Booth 898:
EverOn: The EverOn uses the latest solid-state lighting technology using four AA batteries and is 75 percent more energy efficient than conventional incandescent flashlights. During a blackout, the EverOn provides more light and is much safer than candles or fueled lanterns. Designed originally to provide homeowners with portable, long-lasting, emergency lighting during the hurricane season, the EverOn is a sturdy, virtually indestructible lighting product that provides over 60 hours of comfortable room-filling light on the medium setting and over 30 hours of bright white light on the highest setting, all in a 7-inch by 3.5-inch by 2.4-inch package.
Watchdog Portable Covert Illumination System: an advanced solid-state lighting security system selected by the U.S. Air Force Air Mobility Battlelab. The system illuminates an exterior boundary of 300 x 300 feet with either visible light or covert infrared light visible through night-vision goggles (NVGs). It was designed to protect military assets on the ground, such as an airplane, by creating a "lightless" zone around the asset while illuminating the surrounding protection boundary. In covert illumination mode, the system increases the visibility of NVGs by almost 4-fold.
RelyOn: The patented RelyOn ultra-bright light with power plant is designed to provide homeowners and professionals with a portable, long-lasting work and emergency light providing superior performance over conventional lighting products. The powerful, water-resistant and portable LED lighting system is designed to provide a perpetual and rechargeable light source during the most extreme conditions, including power grid failures caused by natural or man-made disasters. The innovative RelyOn product is one of the most reliable and powerful lighting solutions available for power blackouts, hurricane season and general work lighting.
"As our emergency management/first responder products continue to gain more recognition from the military and emergency management organizations, we perceived that TREXPO East was an important show for us," said Mark D. Schmidt, president and chief operating officer of Cyberlux.
Cyberlux Corporation (OTC Bulletin Board: CYBL) has created breakthrough LED lighting technology that provides the most energy efficient and cost effective lighting solutions available today for consumer, commercial and military uses. The ReliaBright products are designed to address emergencies such as power outages or critical security lighting needs. The Aeon products bring the newly developed, virtually heatless light into the home for use in closets, cabinet interiors and under cabinet lighting for kitchen counters. The Military and Homeland Security products deliver unique, covert, and advanced visible lighting capability for threat detection, force and asset protection. Cyberlux uses solid-state semiconductors, trademarked as its diodal(tm) lighting elements, which consume 75% less energy than incandescent lighting elements and perform for over 20 years in contrast to 750 hours for conventional bulbs. For more information, please visit http://www.cyberlux.com.
Public Relations Contacts: Kelly Cinelli, CWR Partners / 508-222-4802 kelly*cwrpartners.com Investor Contact: Equity Relations, Inc., Richard Brown, 617-314-7379
This news release contains forward-looking statements. Actual results could vary materially from those expected due to a variety of risk factors, including, but not limited to, the Company's ability to raise the capital required in completing the acquisition proposed. The Company's business is subject to significant risks and uncertainties discussed more thoroughly in Cyberlux Corporation's SEC filings, including but not limited to, its report on Form 10-KSB for the year ended December 31, 2004 and its 10-QSB for the quarter ended September 30, 2005. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
SOURCE Cyberlux Corporation
Kelly Cinelli of CWR Partners, +1-508-222-4802, or kelly*cwrpartners.com; or Investors, Richard Brown of Equity Relations, Inc., +1-617-314-7379, both for Cyberlux Corporation http://www.prnewswire.com
Copyright (C) 2006 PR Newswire. All rights reserved.
Posted by J_U_ICE on :
WINDSOR, ON -- (MARKET WIRE) -- 08/21/06 -- Sulja Bros. Building Supplies Ltd. (PINKSHEETS: SLJB) has hired Marquee Asset Management as their Investor Relations firm. Starting today, Marquee Asset Management will accept calls on behalf of Sulja Bros.
CEO Steve Sulja stated: "We are happy that Marquee Asset Management has accepted our offer. They have done well in the private sector and we are confident their abilities are well suited for handling the investor relations for Sulja Bros. We will heavily rely on their experience to help Sulja Bros. reach the share price targets necessary to achieve our up listing goals."
About Marquee Asset Management:
Headquarter in Florida; Marquee Asset Management's principals have handled investor relations, public relations, and financial investing for an impressive list of clients. Our employees are versed in the public and private markets and recently formed the corporation at the request of Sulja Bros. Building Supplies and Consultech. With proven expertise in developing and executing highly effective strategic communications programs and an extensive network of investment community contracts, Marquee Asset Management specializes in helping clients achieve their capital markets objectives. Marquee Asset Management offers a comprehensive suite of services including: investor relations, public relations, asset management, multimedia and web design, and corporate branding. For further information, please visit http://www.marqueeasset.com.
This contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Forward-looking statements may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions: "may," "could," "should" or "might occur." Such forward-looking statements involve certain risks and uncertainties. The actual result may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized.
Posted by J_U_ICE on :
CVAS (.30) Announces New Orders for $1 Million in Surveillance Projects Business Editors
WHITBY, Ontario--(BUSINESS WIRE)--Aug. 21, 2006-- Creative Vistas, Inc. (OTCBB:CVAS), a leading provider of advanced security and surveillance products and solutions and broadband deployment services, today announced that its wholly-owned subsidiary, AC Technical Systems Ltd., has been awarded approximately $1 Million in orders for integrating and servicing security and surveillance systems. A majority of the orders are for systems in the government, education, commercial property management and healthcare sectors.
"Our ability to continue to secure new and larger contracts, particularly from our high profile customer base, further strengthens our position as one of the leading providers of choice when it involves projects that service and integrate technically advanced security and surveillance systems," said Sayan Navaratnam, Chief Executive Officer of Creative Vistas, Inc. "Looking ahead, we are already experiencing strong demand for our technologically advanced security solutions both from our existing customers as well as potential new customers."
Significant portions of this latest contract will involve integrating solutions that include sophisticated access control systems, digital video management systems and various types of surveillance cameras. Substantial portions of the orders are expected to be completed within the next six months.
If you would like to be added to Creative Vista's investor lists, please contact Haris Tajyar with Investor Relations International (http://www.irintl.com) at htajyar*irintl.com.
About Creative Vistas, Inc.
Creative Vistas, Inc. (OTCBB:CVAS) is a leading provider of advanced security and surveillance products and solutions. It also provisions the deployment and servicing of broadband technologies to the commercial and residential market. It primarily operates through its wholly-owned subsidiaries AC Technical Systems Ltd and Iview Digital Video Solutions Inc, to provide integrated electronic security and surveillance systems and technologies. It provides its systems to various high profile clients including government, school boards, retail outlets, banks and hospitals. It provides its broadband services through its subsidiary Cancable Inc.
Forward-Looking Statements: Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Securities Litigation Reform Act of 1995. The Company's actual results could differ materially from expected results for reasons described from time to time in the Company's public filings. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.
KEYWORD: NORTH AMERICA MASSACHUSETTS UNITED STATES CANADA INDUSTRY KEYWORD: TECHNOLOGY GOVERNMENT HARDWARE FEDERAL GOVERNMENT AGENCIES NETWORKS SOFTWARE TELECOMMUNICATIONS STATE/LOCAL SOURCE: Creative Vistas, Inc.
CONTACT INFORMATION: Creative Vistas, Inc. Sayan Navaratnam, 905-666-8676 or Investor Relations Investor Relations International Haris Tajyar, 818-382-9700
Posted by J_U_ICE on :
CCCFF 0.05
Chai-Na-Ta Corp. Reports 2006 Second Quarter Results 8/21/2006
All Amounts are in Canadian Currency
RICHMOND, BRITISH COLUMBIA, Aug 21, 2006 (MARKET WIRE via COMTEX News Network) -- Chai-Na-Ta Corp. (OTCBB: CCCFF), the world's largest supplier of North American ginseng, today announced a second quarter 2006 net loss of $355,000, or $0.01 per basic share, compared to a net loss of $1.3 million, or $0.05 per basic share, in the quarter ended June 30, 2005.
Revenue rose to $2.4 million in the second quarter of 2006 from $278,000 in the same period last year.
Gross profit margin was 1% of sales revenue in the 2006 second quarter compared to a gross loss of 10% in the same period last year.
"About 70% of our 2005 harvest root was sold by June 30, 2006 with a higher volume of sales of the lower quality roots," said William Zen, Chairman of the Company, "Chai-Na-Ta's average selling price decreased to about $5.60 per pound in the first six months of 2006 from about $13.00 per pound in the first six months of 2005."
Selling, general and administrative expenses fell to $257,000 in the second quarter of 2006, a decrease of 33% from the same period last year, due to ongoing efforts to reduce overhead costs.
The Company took a $235,000 write-down on inventory in the 2006 second quarter to reduce the carrying value of specific low grade roots to their estimated net realizable value.
In the six months ended June 30, 2006, revenue increased to $3.7 million from $429,000 in the first half of 2005. Net loss in the first half of 2006 was $567,000, or $0.02 per basic share, compared to a net loss of 1.7 million, or $0.07 per share in the same period last year.
The cash used in operations was $52,000 for the six months ended June 30, 2006, compared with cash used in operations of $1.3 million for the same period in 2005.
Chai-Na-Ta Corp., based in Richmond, British Columbia, is the world's largest supplier of North American ginseng. The Company farms, processes and distributes North American ginseng as bulk root, and supplies processed material for the manufacturing of value-added ginseng-based products.
This news release contains forward-looking statements that reflect the Company's expectations regarding future events. These forward-looking statements involve risks and uncertainties, and actual events could differ materially from those projected. Such risks and uncertainties include, but are not limited to, the success of the Company's ongoing research programs, general business conditions, and other risks as outlined in the Company's periodic filings, Annual Report, and Form 20-F.
Contacts: Chai-Na-Ta Corp. Wilman Wong Chief Financial Officer/Corporate Secretary (604) 272-4118 or Toll Free: 1-800-406-7668 (604) 272-4113 (FAX) info*chainata.com www.chainata.com
Copyright 2006 Market Wire, All rights reserved.
Posted by J_U_ICE on :
PRNW 0.46
Procera Networks Completes Acquisition of Netinact AB 8/21/2006
LOS GATOS, CA, Aug 21, 2006 (MARKET WIRE via COMTEX News Network) -- Procera(R) Networks, Inc. (OTCBB: PRNW), a pioneering developer of application-driven converged network platforms, announced that it has completed its acquisition of Netintact AB. The acquisition enables Procera to broaden its product line and add highly qualified technical personnel. Procera will immediately increase its revenue stream and customer base with Netintact's PacketLogic product line, a powerful suite of flow-based IP mission-critical traffic and service management solutions.
Netintact has more than 150 medium and large reference customers in Scandinavia, Europe, Asia-Pacific and Latin America servicing broadband service providers such as telcos, ISPs, higher education and hospitality. Procera's sales team has been enjoying strong initial customer acceptance of the PacketLogic product in the U.S. and worldwide.
As announced upon the signing of a definitive agreement with Netintact on June 29, 2006, Doug Glader will remain President and CEO of the combined company, while Sven Nowicki will serve as the Executive Vice President and General Manager of Procera's new Netintact/PacketLogic division and join Procera's Board of Directors. Procera been selling the PacketLogic product for the past eight weeks and expects to report revenue from those activities as well as from the other worldwide Netintact customers in the third quarter ending on October 1, 2006.
Under the terms of the agreement, Procera issued and delivered approximately 16 million shares of common stock and approximately 700,000 warrants to purchase Procera common stock to Netintact shareholders. In exchange, Netintact shareholders tendered 100 percent of the issued and outstanding shares of Netintact to Procera. An additional 1.8 million shares of Procera common stock were issued and are being held in escrow for the next 12 months, and 2.8 million shares of Procera common stock may be issued if certain performance milestones are achieved in the next 12 months.
The transaction is accounted for in accordance with generally accepted accounting principles. The Netintact/PacketLogic division will operate as a wholly owned subsidiary of Procera Networks.
About PacketLogic
PacketLogic(TM) is a flow-based intelligent network traffic and service management system. The core of the product suite is the identification engine DRDL(TM) (Datastream Recognition Definition Language) that provides the most accurate network traffic identification available today. DRDL performs deep flow inspection (DFI) to aggregate granular flow properties. The data from DRDL is utilized by the five PacketLogic modules -- Surveillance (real-time traffic monitoring), Traffic Shaping (bandwidth management), Firewall (granular Layer 7 filtering), Statistics (traffic analyzing) and the Service Management module NetAccess. PacketLogic was launched in October 2001 and is currently deployed at more than 150 service providers (xSPs) and telcos worldwide.
About Procera Networks
Founded in 2002, Procera Networks, Inc. is a global provider of networking infrastructure equipment. Procera's OptimIP(TM) family of intelligent network appliances enables businesses to dramatically reduce the total cost associated with networking, security and compliance. With Procera appliances, an enterprise can improve the efficiency of mission-critical applications (QoS), control how and what data is transported through the network, and determine which employees or workgroups can access data or specific applications. Procera's new OptimANA(TM) Convergence Platform Series enables systems developers to easily integrate wire-speed, application-oriented intelligence to extend the market reach of their existing server-based software, security gateways and network appliances. For more information, visit http://www.proceranetworks.com.
NOTE: Procera is registered trademark and OptimIP, OptimANA, PacketLogic and DRDL are trademarks of Procera Networks. All other names are or may be trademarks of their respective owners.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in this press release, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the parties agreeing and entering into a final agreement for the proposed transaction, the ability of Procera and Netintact to successfully combine their respective operations and products, Netintact receiving shareholder approval for the transaction, the ability of Procera and Netintact to commercialize the applicable technology and introduce products and the acceptance of those products by the market, market conditions, the general acceptance of Procera's and Netintact's products and technologies, competitive factors, timing and other risks described in Procera's reports and filings with the SEC (Securities and Exchange Commission) from time to time. Procera assumes no obligation to update any forward-looking statement.
Copyright 2006 Market Wire, All rights reserved.
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SLJB (.084) Receives Favorable Coverage in the Middle East
WINDSOR, ON -- (MARKET WIRE) -- 08/21/06 -- Sulja Brothers Building Supplies, Ltd. (PINKSHEETS: SLJB) announced today that Wessal International and Sulja Bros. received favorable press coverage in Middle Eastern newspapers and magazines.
CEO Steve Sulja stated: "With our rapid expansion in the Middle East, we have received a large interest in Sulja Bros. and our company stock. We have recently received third party articles and coverage in Emirates Al-Youm, Al-Bayan, Al-Khaleej, and Al-Etihadal Iktisady. The articles detailed the relationship between Wessal International and Sulja Bros.; mentioning the current open request of Wessal International to purchase SLJB stock on the open market. We are getting great response from Middle Eastern investors about the articles. Wessal International is pleased with the interest from investors."
This contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Forward-looking statements may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions: "may," "could," "should" or "might occur." Such forward-looking statements involve certain risks and uncertainties. The actual result may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized.
Posted by J_U_ICE on :
MOSH 0.11
Mesa Offshore Trust Announces No Trust Income for August 2006 8/21/2006
AUSTIN, Texas, Aug 21, 2006 (BUSINESS WIRE) -- Mesa Offshore Trust (OTCBB:MOSH) announced that there will be no Trust income distribution for the month of August 2006 for Unitholders of record on August 31, 2006.
Royalty income will total approximately $7,000 and Trust expenditures will be approximately $65,000. Trust expenditures in excess of royalty income received will reduce the Trust's reserve for Trust expenses. As of July 31, 2006 the reserve for Trust expenses, excluding interest receivable, was approximately $1,176,000.
The extent of future distributions from the properties in which the Trust has an interest will continue to be dependent on normal factors associated with oil and gas operations such as oil and gas production levels, prices and associated cost, accruals for future abandonment costs, timing and extent of capital expenditures.
SOURCE: Mesa Offshore Trust
Mesa Offshore Trust, Austin JPMorgan Chase Bank, N.A., as Trustee Mike Ulrich, 800-852-1422 or 512-479-2562 www.businesswire.com/cnn/mosh.htm
Copyright Business Wire 2006
Posted by J_U_ICE on :
Superior Oil and Gas Company and HOCO Drilling LLC to Commence Drilling on the First of a Four-Well Drilling Program in Oklahoma 8/21/2006
YUKON, Okla., Aug 21, 2006 (BUSINESS WIRE) -- Superior Oil and Gas Company (OTCBB: SIOR) is pleased to announce HOCO Drilling LLC, a Robson Energy Company located in Edmond, Oklahoma, is set to drill the first well in a four-well drilling program with Superior Oil and Gas Co.
Vernon Brock, President and Manager of HOCO Drilling stated "We are now participating in the program as a working interest partner with Superior Oil and Gas Co. The wells will be drilled to depths below 11,000 feet. The Lonesome River #1 Well location has been surveyed, and we await only the drilling permit in order to start immediately." Mr. Brock further stated "The program wells are in Blaine, Canadian and Kingfisher Counties, Oklahoma."
Dan Lloyd, CEO of Superior Oil and Gas stated "To be drilled first is the Lonesome River #1 Well which will be drilled to the Wilcox Formation in the SW 1/4 of Section 1, T 19 N, R 10 W in Blaine County, Oklahoma."
For more information, please contact Dan Lloyd at (405) 350-0404.
This Press Release contains forward-looking statements based on our current expectations about our company and our industry. You can identify these forward-looking statements when you see us using the words such as 'expect,' 'anticipate,' 'estimate,' 'believes,' 'plans' and other similar expressions. These forward-looking statements involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of our ability to complete required financings and other preconditions to the completion of the transactions described herein and Superior's ability to successfully acquire reserves and produce its resources among other issues. We undertake no obligation to publicly update any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. We caution you not to place undue reliance on those statements.
SOURCE: Superior Oil and Gas Company
Superior Oil & Gas Co. Dan Lloyd, 405-350-0404 Fax: 405-350-0539 info*superioroilandgas.com
Copyright Business Wire 2006
Posted by J_U_ICE on :
GSEG .0035
10 Q SB 15:16:01 est
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
-------------------------
FORM 10-QSB -------------------------
QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL QUARTER ENDED JUNE 30, 2006
COMMISSION FILE NO.: 0-32143
GS ENERGY CORPORATION -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter)
Delaware 20-3148296 -------------------------------------------------------------------------------- (State of other jurisdiction of (IRS Employer incorporation or organization Identification No.)
One Penn Plaza, Suite 1612, New York, N.Y. 10119 -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code)
(212) 994-5374 -------------------------------------------------------------------------------- (Registrant's telephone number including area code)
Check mark whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months (or for such shorter period that the registrant as required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No __.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act) Yes ___ No X
The number of outstanding shares of common stock as of August 21, 2006 was: 2,228,180,943
Transitional Small Business Disclosure Format: Yes No X . ----- ---
<PAGE>
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS (UNAUDITED)
<PAGE>
<TABLE>
<CAPTION>
GS ENERGY CORPORATION (F/K/A INSEQ CORPORATION) AND SUBSIDIARIES CONSOLIDATED CONDENSED BALANCE SHEET JUNE 30, 2006 (UNAUDITED) -------------------------------------------------------------------------------- ASSETS: Current Assets: <S> <C> Cash ......................................................... $ 386,974 Accounts Receivable, net of reserve .......................... 756,009 Costs and Estimated Earnings in Excess of Billings on Uncompleted Contracts ............................... 97,836 Material & Supply Inventory .................................. 56,510 Prepaid Expenses ............................................. 27,549 ----------- Total Current Assets ........................................ 1,324,878
Net Fixed Assets ................................................ 778,411
Other Assets: Goodwill ..................................................... 2,462,100 Intangible Assets and License Agreements ..................... 110,000 Equity Investment ............................................ 140,182 Website Costs, net ........................................... 205,112 ----------- Total Other Assets ........................................ 2,917,394
----------- TOTAL ASSETS .................................................... $ 5,020,683 =========== LIABILITIES AND STOCKHOLDERS' EQUITY:
Current Liabilities: Accounts Payable and Accrued Expenses ....................... $ 297,980 Current Portion of Mortgages and Notes Payable .............. 99,893 Investment Payable .......................................... 115,000 Loans Payable-Related Parties ............................... 328,974 Billings in Excess of Costs & Estimated Earnings on Uncompleted Contracts .............................. 337,524 Estimated Losses on Uncompleted Contracts ................... 758 ----------- Total Current Liabilities ............................... 1,180,129
Long Term Mortgages and Notes Payable, Net of Current Portion 929,032 -----------
----------- TOTAL LIABILITES ................................................ 2,109,161
STOCKHOLDERS' EQUITY
Preferred Stock, $0.001 Par Value: Series C: Authorized 2,200,000, 1,550,000 issued and ..... 1,550 outstanding Series D: Authorized 1,000,000, 1,000,000 issued and ..... 1,000 outstanding Common Stock, $0.001 Par Value, 5,000,000,000 authorized; 2,225,630,943 issued and outstanding .................... 2,225,631 Additional Paid-in-Capital .................................. 6,883,734 Accumulated Deficit ......................................... (6,200,393)
----------- TOTAL STOCKHOLDERS' EQUITY ..................................... 2,911,522
----------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY ..................... $ 5,020,683 ===========
The notes to the consolidated condensed financial statements are an integral part of these statements. </TABLE>
<PAGE>
<TABLE>
GS ENERGY CORPORATION (F/K/A INSEQ CORPORATION) AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED)
<CAPTION>
Three Months Three Months Six Months Six Months Ended Ended Ended Ended June 30, 2006 June 30, 2005 June 30, 2006 June 30, 2005 ------------- ------------- ------------- -------------
Operating Income (Loss) ....................... 33,786 (742,866) (635,757) (1,156,594)
Other Expense: Interest expense and financing costs ..... 30,267 25,004 261,426 190,179 Other Expense (Income) ................... (7,228) (26,488) --------------- --------------- --------------- --------------- Other Expense ......................... 23,039 25,004 234,938 190,179 --------------- --------------- --------------- ---------------
Income (Loss) before provision for income taxes 10,747 (767,870) (870,695) (1,346,773)
Provision for income taxes ............... -- -- -- -- --------------- --------------- --------------- ---------------
Net Income (Loss) ............................. $ 10,747 $ (767,870) $ (870,695) $ (1,346,773) =============== =============== =============== ===============
Net Income (Loss) per common share, basic and diluted ........................... -- -- -- -- =============== =============== =============== ===============
Weighted average shares of common stock Outstanding, basic and diluted ............. 1,886,838,122 1,527,836,884 3,856,506,602 896,006,237 =============== =============== =============== ===============
The notes to the consolidated condensed financial statements are an integral part of these statements. </TABLE>
<PAGE>
<TABLE>
GS ENERGY CORPORATION (F/K/A INSEQ CORPORATION) AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) <CAPTION>
Six Months Six Months Ending Ending June 30, 2006 June 31, 2005 -------------- ------------- CASH FLOWS FROM OPERATING ACTIVITIES
<S> <C> <C> Net cash used in operating activities ................ $ (64,922) $ (135,312)
CASH FLOWS FROM INVESTING ACTIVITIES Change in Investments Cash Paid on Purchase of Subsidiary ......................... -- (50,000) Cash Acquired on Purchase of Subsidiary ..................... -- 80,444 Purchase of equipment ....................................... (19,432) -- Investment in intangible assets ............................. (7,777) -- ----------- ----------- Net cash used in investing activities ................. (27,209) 30,444
Proceeds from issuance of convertible debt .................. -- 330,000 Payment of financing costs .................................. -- (33,000) Principal payments - mortgages and short term notes ......... (197,146) (3,420) Loans from related parties .................................. 256,883 151,285 Issuance of Common Stock - exercise of stock options ........ 262,500 Redemption of preferred stock ............................... -- (234,931) ----------- ----------- Net cash provided by financing activities .............. 322,237 209,934
----------- ----------- Increase/ (Decrease) in cash ................................ 230,106 105,066
Cash at beginning of period ................................. 156,868 -- ----------- -----------
Cash at end of period ....................................... $ 386,974 $ 105,066 =========== ===========
Conversion of debentures and interest into common stock ........ $ 404,122 $ 54,365 =========== ===========
Issuance of stock subscription ................................. $ 75,000 $-- =========== ===========
Issuance of Stock Options for Financing Fees ................... $ -- $ 176,485 =========== =========== Issuance of stock options for services ......................... $ 300,000 $-- =========== ===========
Issuance of common stock for services .......................... $ 160,000 $-- =========== ===========
Conversion of redeemable preferred stock into Series B preferred $-- $ 2,515,069 =========== ===========
Conversion of Series A Preferred stock to common stock ......... $ 3,000,000 $-- =========== ===========
Cancellation of Series B Preferred stock ....................... $ 252 $-- =========== ===========
Conversion of preferred Series C stock for convertible debt assumption ..................................................... $-- $ 2,936,897 =========== =========== Conversion of convertible debentures and interest into Series C Preferred stock ................................................ $ 1,150,369 $-- =========== ===========
The notes to the consolidated condensed financial statements are an integral part of these statements. </TABLE>
<PAGE>
GS ENERGY CORPORATION (F/K/A INSEQ CORPORATION) AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
1. BASIS OF PRESENTATION
The consolidated condensed interim financial statements included herein have been prepared by the Company, pursuant to the rules and regulations of the Securities and Exchange Commission with regard to Regulation S-B and, in the opinion of management, include in all adjustments which, except as described elsewhere herein, are of a normal recurring nature, necessary for a fair presentation of the financial position, results of operations, and cash flows for the periods presented. The results for interim periods are not necessarily indicative of results for the entire year. The financial statements presented herein should be read in connection with the financial statements included in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2005.
2. ACQUISITIONS
WARNECKE
On June 1, 2005 the Company completed its acquisition of Warnecke Design Service, Inc., and Warnecke Rentals, L.L.C, for $489,904, $89,904 was paid in cash and $400,000 was paid by GreenShift Corporation in exchange for 400,000 Series C Preferred Shares. GreenShift Corporation owns 80% of the fully diluted capital stock of the Company. Warnecke, located in Ottoville, Ohio is a specialty metal manufacturer that produces equipment for an array of industries and provides design, development, manufacturing, installation and maintenance services for its clients. Warnecke's customers include electronics, automotive, plastics and other manufacturers, including several Fortune 500 companies.
SEPARATION AND RECOVERY TECHNOLOGIES, INC.
On September 15, 2005 the Company acquired 1,000 shares (or 100% of the outstanding shares of common stock) of Separation and Recovery Technologies, Inc. ("SRT"), in exchange for 434,782,608 unregistered shares of common stock of GS Energy in a tax-free stock-for-stock exchange. SRT holds certain exclusive rights to a new patented technology for the separation of plastics from solid wastes and non-exlusive rights to the technology for the separation of plastics from electronic equipment and white appliances. The new technology was developed by Argonne National Laboratory under a contract with the U.S. Department of Energy.
AIR CYCLE CORPORATION
On December 21, 2005, GS Energy acquired GreenShift's 30% stake in Air Cycle Corporation in return for 10% of GS Energy's fully diluted capital stock, which was executed by amending GreenShift's dilution protection agreement with GS Energy from 70% to 80%. The purchase price for the acquisition of Air Cycle Corporation by GreenShift Corporation ("GreenShift") was $265,000 ($50,000 in cash and $215,000 payable). Immediately following GreenShift's acquisition of Air Cycle Corporation, GreenShift transferred its ownership to the Company. The Company recorded an investment in Air Cycle Corporation at GreenShift's cost of $265,000, an investment payable of $215,000 and a $50,000 increase in paid-in capital. The investment payable was $115,000 as of June 30, 2006. Air Cycle offers recycling services and transportation throughout North America to assist facilities in the proper disposal of lamps, ballasts, batteries, and computer hardware. The Company accounts for the investment in Air Cycle using the equity method of accounting.
For the 3 months ending June 30, 2006 ---------- Net Sales $723,351
Net Loss (11,059)
Net Loss per Share -0-
<PAGE>
GS ENERGY CORPORATION (F/K/A INSEQ CORPORATION) AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
3. CONVERTIBLE DEBENTURES
CONVERSION OF DEBT
On February 2, 2006, Cornell Capital Partners, LP, converted $404,139 of debt into common stock. The amount converted equaled the entirety of the principal and accrued interest on the Convertible Debenture issued by GS Energy to Cornell.
ASSUMPTION BY GREENSHIFT
On February 7, 2006, GreenShift Corporation, GS Energy's majority shareholder, assumed certain convertible debentures GS Energy had previously issued to Highgate House Funds, Ltd., in the amount of $1,150,369, which included accrued interest of $89,734. Subsequently GS Energy issued 1,150,369 shares of GS Energy's Series C Preferred Stock to GreenShift in satisfaction of the debt. Shares of GS Energy's Series C Preferred Stock carry a face value of $1.00, and are convertible into GS Energy common stock at $0.01 per share.
The completion of the above described transactions resulted in the conversion of all of GS Energy's outstanding convertible debt with Cornell and Highgate, and the reduction of GS Energy's debt by a total of $1,554,508.
4. OPTIONS AND WARRANTS
The following is a table of stock options and warrants outstanding as June 30, 2006: <TABLE>
<CAPTION>
Number of Shares Weighted Average Exercise Price --------------- --------------- <S> <C> <C> Outstanding at December 31, 2005 587,500,000 $ .0005 Granted at fair value ......... 300,000,000 .0015 Forfeited .................... -- -- Exercised .................... (150,000,000) .0005 ------------ ------
Outstanding at March 31, 2006 ..... 737,500,000 .0009 Exercised .................... (225,000,000) .0001 ------------ ------ Outstanding at June 30, 2006 ...... 512,500,000 .0009 </TABLE>
<TABLE>
Summarized information about GS Energy's stock options outstanding at June 30, 2006 is as follows: <CAPTION>
Weighted Exercisable Average ----------------------------------- Exercise Prices Number of Remaining Weighted Number of Options Weighted Average Options Contractual Average Exercise Price Outstanding Life Exercise Price -------------------------------------------------------------------------------- ------------------------------------ <C> <C> <C> <C> <C> <C> $0.0005 162,500,000 9.00 0.0005 162,500,000 0.0005 $0.0005 100,000,000 9.00 0.0005 100,000,000 0.0005 $0.0015 250,000,000 10.00 0.0015 250,000,000 0.0015 --------------- ------------------ 512,500,000 512,500,000 </TABLE>
Options exercisable at June 30, 2006 were 512,500,000, with a weighted average exercise price of $0.001196 per share. The fair value of each option granted during 2005 and 2006 is estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions:
GS ENERGY CORPORATION (F/K/A INSEQ CORPORATION) AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
5. RELATED PARTY TRANSACTIONS
RIGHT OF FIRST REFUSAL MANUFACTURING AGREEMENT
WDS holds the right of first refusal to provide all of the equipment manufacturing needs of GS CleanTech Corporation and GS AgriFuels Corporation. GS Energy, GS CleanTech and GS AgriFuels are all majority held subsidiaries of GreenShift Corporation.
SALES TO GS ETHANOL TECHNOLOGIES
During the quarter ended June 30, 2006 WDS performed engineering and manufacturing services for GS Industrial Design, Inc. ("GIDC"), a subsidiary of GS CleanTech Corporation. GreenShift Corporation, the majority shareholder of GS Energy, is also the majority shareholder of GS CleanTech Corporation. Revenues related to services performed for GIDC totaled $62,324 for the quarter ended June 30, 2006.
GS Industrial Design has recently executed a number of agreements relative to its corn oil and animal fat extraction technologies and has acquired certain parts and inventory relating to these agreements that are located at WDS's manufacturing operation. WDS anticipates the commencement of work on these projects upon the completion of the final site engineering for each agreement.
ISSUANCE OF SERIES D PREFERRED STOCK
On May 5, 2006, GreenShift exchanged 3,000,000,000 shares of GS Energy common stock and 625,000 shares of GS Energy Series A Preferred Stock for 1,000,000 shares of GS Energy Series D Preferred Stock. GS Energy Series D Preferred Stock includes dilution protections such that the preferred shares are convertible into 80% of GS Energy's issued and outstanding capital stock at the time of conversion.
ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On May 24, 2006, GS Energy entered into a Share Purchase Agreement with its majority shareholder, GreenShift Corporation. The Agreement contemplates a closing to occur on or before June 30, 2006. At the closing, GreenShift agreed to transfer to GS Energy all of its interest in Sterling Planet, Inc. (approximately 10% of the capital stock), all of its interest in TerraPass, Inc. (approximately 10% of the capital stock), and al of the capital stock of four recently formed corporations: GS Solar, Inc., GS Wind, Inc., GS Hydro, Inc. and GS Wave, Inc. The latter four corporations were organized to engage in the development of clean energy projects. In exchange for the shares in the six corporations, GS Energy agreed to issue to GreenShift Corporation 450,000 shares of GS Energy Series C Preferred Stock, bringing to 2,200,000 the number of shares of GS Energy Series C Preferred Stock owned by GreenShift. GreenShift will be entitled to convert its 2,200,000 shares of GS Energy Series C Preferred Stock into 220,000,000 shares of GS Energy common stock. GreenShift will also be entitled to cast 220,000,000 votes at each meeting of GS Energy shareholders by reason of its ownership of the GS Energy Series C Preferred Stock. Each share of GS Energy Series C preferred Stock will have a $1.00 preference over the common stock in the event of a liquidation of GS Energy.
6. SUBSEQUENT EVENTS
UNREGISTERED SALE OF EQUITY SECURITIES
On July 1, 2006, GS Energy acquired from its majority shareholder, GreenShift Corporation, all of GreenShift's interest in Sterling Planet, Inc. (approximately 10% of the capital stock), all of its interest in TerraPass, Inc. (approximately 10% of the capital stock), and all of the capital stock of four recently formed corporations: GS Solar, Inc., GS Wind, Inc., GS Hydro, Inc. and GS Wave, Inc. The latter four corporations were organized to engage in the development of clean energy projects. In exchange for the shares in the six corporations, GS Energy issued to GreenShift Corporation 450,000 shares of GS Energy Series C Preferred Stock, bringing to 2,200,000 the number of shares of GS Energy Series C Preferred Stock owned by GreenShift.
GreenShift will be entitled to convert its 2,200,000 shares of GS Energy Series C Preferred Stock into 220,000,000 shares of GS Energy common stock. GreenShift will also be entitled to cast 220,000,000 votes at each meeting of GS Energy shareholders by reason of its ownership of the GS Energy Series C Preferred Stock. Each share of GS Energy Series C Preferred Stock will have a $1.00 preference over the common stock in the event of a liquidation of GS Energy.
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GS ENERGY CORPORATION (F/K/A INSEQ CORPORATION) AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
6. SUBSEQUENT EVENTS (CONTINUED)
NAME CHANGE
Effective on July 18, 2006, the Corporation filed with the Delaware Secretary of State a Certificate of Amendment of its Certificate of Incorporation. The amendment changed the name of the corporation to "GS Energy Corporation."
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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS AND PLAN OF OPERATION
FORWARD LOOKING STATEMENTS
In addition to historical information, this Quarterly Report contains forward-looking statements, which are generally identifiable by use of the words "believes," "expects," "intends," "anticipates," "plans to," "estimates," "projects," or similar expressions. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Factors that might cause such a difference include, but are not limited to, those discussed in the section entitled "Business Risk Factors." Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's opinions only as of the date hereof. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements.
OVERVIEW
GS Energy Corporation ("we," "our," "us," "GS Energy," or the "Company") intends to build an integrated clean energy production company with a focus on distributed power generation and sales and the trading and sales of renewable energy and energy efficiency certificates.
Our growth efforts are currently focused on the identification and development of a number of qualified sites for small-scale clean energy production facilities such as biomass, solar, wind, wave and hydro power facilities. We intend to build, own and operate these facilities and develop a portfolio of long-term, small-scale clean energy producing assets. In addition to generating revenues from the sale of the power produced from these facilities, we intend to generate revenues from the sales of renewable energy certificates, or Green Tags, and energy efficiency certificates, or White Tags. Our current offerings include:
o Renewable Energy Certificates - a renewable energy certificate ("REC"), also known as Green Tags, are the intangible environmental benefits associated with generating one megawatt hour ("MWh") of electric energy by a renewable resource. RECs don't require the energy to be physically delivered to the buyer, but instead offset the difference between cost of the renewable power and power from fossil energy sources.
o Energy Efficiency Certificates - otherwise known as White Tags(TM) or EECs, these certificates are similar to Green Tags except that they represent one MWh of electricity savings due to the use of energy conservation methods and equipment.
o Specialty Manufacturing & Infrastructure Support - we provide highly specialized equipment manufacturing services and infrastructure support services relative to equipment used to produce clean fuels and clean energy.
We conduct our operations through our wholly-owned subsidiaries, GS Carbon Trading, Inc., GS Distributed Generation, Inc., and GS Manufacturing, Inc.
GS Carbon Trading holds minority stakes in Sterling Planet, Inc. (about 10%), a leading retail provider of solar, wind and other clean, renewable energy certificates, and TerraPass, Inc. (about 10%), an innovative clean energy sales company that focuses on offsetting the carbon dioxide output of personal vehicles with renewable energy and other carbon credits. GS Manufacturing also holds majority stakes in two subsidiaries, Warnecke Design Service, Inc. (100%), a specialty metal manufacturer, and Air Cycle Corporation (about 30%), a manufacturer of electronics and other recycling equipment.
GS Carbon Trading
Sterling Planet is the nation's leading retail renewable energy provider and has established a strong reputation as the premier market maker for renewable energy sales. Sterling has sold over 4 billion kilowatt hours of renewable energy since its inception, representing enough energy to power 350,000 homes for a full year and offset 2.6 million tons of carbon dioxide.
Sterling Planet currently services an impressive array of clients including Alcoa, The Coca-Cola Company, DuPont, Delphi Corporation, Duke University, University of Utah, Nike, Pitney Bowes, U.S. Environmental Protection Agency, the U.S. General Services Administration, the Homeland Security Department, Western Area Power Administration, New York State Energy Research and Development Authority (NYSERDA), the U.S. Army, Staples, Whirlpool Corporation, the World Resources Institute and over 150 other companies.
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GS Manufacturing
GS Manufacturing's wholly-owned Warnecke Design Service subsidiary is a specialty metal manufacturing company that provides custom equipment manufacturing services for its clients including machine design, machine building, control system electronics and programming, and maintenance support services. Warnecke currently services clients in the biofuels, automotive, electronics, lighting, plastics, rubber and food products industries. In addition, Warnecke Design holds the right of first refusal to provide all of the equipment manufacturing needs of GS CleanTech Corporation and GS AgriFuels Corporation. GS Energy, GS CleanTech and GS AgriFuels are all majority held subsidiaries of GreenShift Corporation.
GS Energy intends to rely heavily on the Warnecke Design group to provide specialty equipment and infrastructure support services relative to the deployment of GS Energy's planned distributed power production facilities.
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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS AND PLAN OF OPERATION
BUSINESS RISK FACTORS
There are many important factors that have affected, and in the future could affect, GS Energy's business, including but not limited to the factors discussed below, which should be reviewed carefully together with other information contained in this report. Some of the factors are beyond our control and future trends are difficult to predict.
There is substantial doubt concerning our ability to continue as a going concern.
GS Energy incurred a loss of $870,695 during the six months ended June 30, 2006, and GS Energy had approximately $386,974 in cash at June 30, 2006. These matters raise substantial doubt about GS Energy's ability to continue as a going concern. Management's plans include raising additional proceeds from debt and equity transactions and completing strategic acquisitions.
The exercise of our outstanding warrants and options and GS Energy's various anti-dilution and price-protection agreements could cause the market price of our common stock to fall, and may have dilutive and other effects on our existing stockholders.
The exercise of our outstanding warrants and options could result in the issuance of up to 512,500,000 shares of common stock, assuming all outstanding warrants and options are currently exercisable. Such issuances would reduce the percentage of ownership of our existing common stockholders and could, among other things, depress the price of our common stock. This result could detrimentally affect our ability to raise additional equity capital. In addition, the sale of these additional shares of common stock may cause the market price of our stock to decrease.
We may be unable to satisfy our current debts.
Our total liabilities as of June 30, 2006 were $2,109,161. We cannot afford to pay these amounts out of our operating cash flows.
We lack capital to fund our operations.
During the six months ended June 30, 2006 our operations used $64,922 in cash. In addition, during those six months we were required to make payments on some of our outstanding debts. Loans from some of our shareholders funded both the cash shortfall from operations and our debt service. Those individuals may not be able to continue to fund our operations or our debt service.
Our operations will suffer if we are unable to manage our rapid growth.
We are currently experiencing a period of rapid growth through internal expansion and strategic acquisitions. This growth has placed, and could continue to place, a significant strain on our management, personnel and other resources. Our ability to grow will require us to effectively manage our collaborative arrangements and to continue to improve our operational, management, and financial systems and controls, and to successfully train, motivate and manage our employees. If we are unable to effectively manage our growth, we may not realize the expected benefits of such growth, and such failure could result in lost sales opportunities, lost business, difficulties operating our assets and could therefore significantly impair our financial condition.
We may have difficulty integrating our recent acquisitions into our existing operations.
Acquisitions will involve the integration of companies that have previously operated independently from us, with focuses on different geographical areas. We may not be able to fully integrate the operations of these companies without encountering difficulties or experiencing the loss of key employees or customers of such companies. In addition, we may not realize the benefits expected from such integration.
Our use of percentage of completion accounting could result in a reduction or elimination of previously reported profits.
A substantial portion of our revenues are recognized using the percentage-of-completion method of accounting. This method of accounting results in us recognizing contract revenue and earnings over the term of a contract in the same periodic proportions as we incur costs relating to the contract. Earnings are recognized periodically, based upon our estimate of contract revenues and costs, except that a loss on a contract is recognized in full as soon as we determine that it will occur. Since the future reality may differ from our estimates, there is with each contract a risk that actual earnings may be less than our estimate. In that event, we are required to record an elimination of previously recognized earnings.
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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS AND PLAN OF OPERATION
BUSINESS RISK FACTORS (continued)
We will be unable to service our customers unless we can continue to retain top quality subcontractors and equipment manufacturers at favorable prices.
We rely on third party subcontractors and equipment manufacturers to complete our projects. The quality and timeliness of the services and equipment they provide determines, in part, the quality of our work product and our resulting reputation in the industry. In addition, if the amount we are required to pay for their services and equipment exceeds the amount we have calculated in bidding for a fixed-price contract, we will lose money on the contract. If we are unable to maintain relationships with subcontractors and manufacturers who will fill our requirements at a favorable price, our business will suffer.
Our failure to attract qualified engineers and management personnel could hinder our success.
Our ability to attract and retain qualified engineers and other professional personnel when we need them will be a major factor in determining our future success. There is a very competitive market for individuals with advanced engineering training, and we are not assured of being able to retain the personnel we will need.
Key personnel are critical to our business and our future success depends on our ability to retain them.
Our success depends on the contributions of our key management, environmental and engineering personnel. The loss of these officers could result in lost sales opportunities, lost business, difficulties operating our assets, difficulties raising additional funds and could therefore significantly impair our financial condition. Our future success depends on our ability to retain and expand our staff of qualified personnel, including environmental technicians, sales personnel and engineers. Without qualified personnel, we may incur delays in rendering our services or be unable to render certain services. We may not be successful in our efforts to attract and retain qualified personnel as their availability is limited due to the demand of hazardous waste management services and the highly competitive nature of the hazardous waste management industry. We do not maintain key person insurance on any of our employees, officers or directors.
Some of our existing stockholders can exert control over us and may not make decisions that further the best interests of all stockholders.
Our officers, directors and principal stockholders (greater that 5% stockholders) together control 100% of our outstanding Series D preferred stock. The preferred shares are convertible into 80% of our Common Stock. As a result, these stockholders, if they act individually or together, may exert a significant degree of influence over our management and affairs and over matters requiring stockholder approval, including the election of directors and approval of significant corporate transactions. In addition, this concentration of ownership may delay or prevent a change in control of us and might affect the market price of our common stock, even when a change in control may be in the best interest of all stockholders. Furthermore, the interests of this concentration of ownership may not always coincide with our interests or the interests of other stockholders and accordingly, they could cause us to enter into transactions or agreements which we would not otherwise consider.
GS Energy Corporation is not likely to hold annual shareholder meetings in the next few years.
Delaware corporation law provides that members of the board of directors retain authority to act until they are removed or replaced at a meeting of the shareholders. A shareholder may petition the Delaware Court of Chancery to direct that a shareholders meeting be held. But absent such a legal action, the board has no obligation to call a shareholders meeting. Unless a shareholders meeting is held, the existing directors elect directors to fill any vacancy that occurs on the board of directors. The shareholders, therefore, have no control over the constitution of the board of directors, unless a shareholders meeting is held. Management does not expect to hold annual meetings of shareholders in the next few years, due to the expense involved. Kevin Kreisler and James L. Grainer, who are currently the sole directors of GS Energy were appointed to that position by the previous directors. If other directors are added to the Board in the future, it is likely that Mr. Kreisler and Mr. Grainer will appoint them. As a result, the shareholders of GS Energy will have no effective means of exercising control over the operations of GS Energy.
Investing in our stock is highly speculative and you could lose some or all of your investment.
The value of our common stock may decline and may be affected by numerous market conditions, which could result in the loss of some or the entire amount invested in our stock. The securities markets frequently experience extreme price and volume fluctuations that affect market prices for securities of companies generally and very small capitalization companies such as us in particular.
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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS AND PLAN OF OPERATION
BUSINESS RISK FACTORS (continued)
The volatility of the market for GS Energy common stock may prevent a shareholder from obtaining a fair price for his shares.
The common stock of GS Energy is quoted on the OTC Bulletin Board. It is impossible to say that the market price on any given day reflects the fair value of GS Energy, since the price sometimes moves up or down by 50% or more in a week's time. A shareholder in GS Energy who wants to sell his shares, therefore, runs the risk that at the time he wants to sell, the market price may be much less than the price he would consider to be fair.
Our common stock qualifies as a "penny stock" under SEC rules which may make it more difficult for our stockholders to resell their shares of our common stock.
Our common stock trades on the OTC Bulletin Board. As a result, the holders of our common stock may find it more difficult to obtain accurate quotations concerning the market value of the stock. Stockholders also may experience greater difficulties in attempting to sell the stock than if it were listed on a stock exchange or quoted on the NASDAQ National Market or the NASDAQ Small-Cap Market. Because our common stock does not trade on a stock exchange or on the NASDAQ National Market or the NASDAQ Small-Cap Market, and the market price of the common stock is less than $5.00 per share, the common stock qualifies as a "penny stock." SEC Rule 15g-9 under the Securities Exchange Act of 1934 imposes additional sales practice requirements on broker-dealers that recommend the purchase or sale of penny stocks to persons other than those who qualify as an "established customer" or an "accredited investor." This includes the requirement that a broker-dealer must make a determination on the appropriateness of investments in penny stocks for the customer and must make special disclosures to the customer concerning the risks of penny stocks. Application of the penny stock rules to our common stock affects the market liquidity of the shares, which in turn may affect the ability of holders of our common stock to resell the stock.
Only a small portion of the investment community will purchase "penny stocks" such as our common stock.
GS Energy common stock is defined by the SEC as a "penny stock" because it trades at a price less than $5.00 per share. GS Energy common stock also meets most common definitions of a "penny stock," since it trades for less than $1.00 per share. Many brokerage firms will discourage their customers from purchasing penny stocks, and even more brokerage firms will not recommend a penny stock to their customers. Most institutional investors will not invest in penny stocks. In addition, many individual investors will not consider a purchase of a penny stock due, among other things, to the negative reputation that attends the penny stock market. As a result of this widespread disdain for penny stocks, there will be a limited market for GS Energy common stock as long as it remains a "penny stock." This situation may limit the liquidity of your shares.
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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS AND PLAN OF OPERATION SIX MONTHS ENDED JUNE 30, 2006
Revenues
Total revenues were $2,184,564 for the six months ended June 30, 2006, and $315,074 for the six months ended June 30, 2005.
The majority of revenues realized during six months ended June 30, 2006 were due to the operating activities of our recently acquired subsidiary, Warnecke Design Services, Inc. ("WDS"). WDS has traditionally engaged in the engineering and fabrication of manufacturing equipment for large domestic and international manufacturers, and revenues for the quarter ended June 30, 2006 related primarily to orders from that customer base.
WDS is currently executing a growth plan targeted at designing and fabricating processing equipment for the biofuels industry. This plan includes engineering and fabrication services for GS CleanTech Corporation, which is also owned by GS Energy's parent company, GreenShift Corporation, as well as for other nonaffiliated companies in the alternative fuels industry. Although the Company expects increases in revenue from these areas of expansion, there can be no assurance that the growth plan can be successfully implemented.
Cost of Revenues
Cost of revenues for the six months ended June 30, 2006 was $1,659,714, all of which was related to WDS. Cost of revenues included direct labor costs of $631,918, purchased components and other direct costs of $764,639, and indirect labor and manufacturing overhead of $263,157. Cost of revenues for the six months ended June 30, 2005 was $258,492.
Selling, General and Administrative Expenses
Selling, general and administrative expenses for the six months ended June 30, 2006 were $1,035,149. Selling, general and administrative expenses for the six months ended June 30, 2005 were $1,161,476. Selling, general and administrative expenses are expected to remain high as a percentage of sales until such time that the Company can achieve enough revenue growth and obtain the economies of scale necessary to support these expenses.
Interest Expense and Financing Costs
Interest expense and financing cost for the six months ended June 30, 2006 was $261,426. Interest expense and financing cost for the six months ended June 30, 2005 was $190,179. The interest expense was primarily attributable to our financing agreements with Cornell and Highgate.
We incurred $83,653 in amortization of financing costs during the six months ended June 30, 2006. These expenses represent the costs incurred in connection with the Highgate and Cornell Debentures and the fees we paid to compensate the parties associated with these financing transactions.
The Interest expenses and financing costs noted above are expected to decrease in future quarters due to the fact the Cornell Debentures were converted into common stock and the Highgate Debentures were assumed by GreenShift. Interest expense and financing costs could increase in future periods if the Company obtains new debt or equity financing.
Net Income and Net Loss
Our net loss for the six months ended June 30, 2006, was $870,695, and our net loss for the six months ended June 30, 2005 was $1,346,773. The net loss incurred was due to the expenses and other factors described above.
Liquidity and Capital Resources
The Company had $2,109,161 in liabilities at the end of the six months ended June 30, 2006
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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS AND PLAN OF OPERATION
SIX MONTHS ENDED JUNE 30, 2006
Liquidity and Capital Resources (continued)
On February 7, 2006, GreenShift Corporation, GS Energy's majority shareholder, assumed certain convertible debentures GS Energy Corporation had previously issued to Highgate House Funds, Ltd., in the amount of $1,150,369, which included accrued interest of $89,734. In return for GreenShift's assumption of this debt, GS Energy issued GreenShift 1,150,369 shares of GS Energy's Series C Preferred Stock. Shares of GS Energy's Series C Preferred Stock carry a face value of $1.00, pay a coupon of 8%, and are convertible into GS Energy Corporation common stock at $0.01 per share.
Additionally, on February 2, 2006, Cornell Capital Partners, LP, converted $404,139 of debt into common stock. The amount converted equaled the entirety of the principal and accrued interest on the Convertible Debenture issued by GS Energy to Cornell.
The completion of the above described transactions resulted in the conversion of all of GS Energy's outstanding convertible debt with Cornell and Highgate, and the reduction of GS Energy's debt by a total of $1,554,508.
The Company had $297,980 in accounts payable and accrued expenses at June 30, 2006. The Company may not be able to satisfy these amounts predominantly out of cash flows from its operations, and may need to obtain additional financing to satisfy these obligations.
As of June 30, 2006, the Company owed $22,076 to various officers.
At the present time the Company does not have commitments from anyone to provide funds for the operations of GS Energy. Management continues to seek funding and any additional funding that is obtained is likely to involve the issuance of large amounts of stock, and will further dilute the interests of the existing shareholders.
Cash
Our primary sources of liquidity are cash provided by investing and financing activities. For the six months ended June 30, 2006, net cash used in operating activities was $64,922.
Liquidity
We used cash provided from investing and financing activities to fund operations. We intend to use cash provided from operating activities to fund operations during the fiscal year 2006.
The Company's capital requirements consist of general working capital needs, scheduled principal and interest payments on debt, obligations and capital leases and planned capital expenditures. The Company's capital resources consist primarily of cash generated from the issuance of debt and common stock. The Company's capital resources can be expected to be impacted by changes in accounts receivable as a result of revenue fluctuations, economic trends, and collection activities. At June 30, 2006 the Company had $386,974 in cash.
Cash Flows for the Quarter Ended June 30, 2006
For the six months ending, 2006, we obtained net cash from financing of $322,237 and used cash for investing activities of $27,209.
The Company had a working capital position of $144,749 at June 30, 2006. In reviewing our financial statements as of June 30, 2006, our auditor concluded that there was substantial doubt as to our ability to continue as a going concern.
Off-Balance Sheet Arrangements
We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition or results of operations.
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PART II - OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
None.
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
During the six months ended June 30, 2006, Cornell Capital Partners converted a total of $404,139 of debt and interest into 436,956,966 shares of the Company's common stock and on March 24, 2006, GreenShift converted 375,000 shares of GS Energy Corporation Series A Preferred Stock into 3,000,000,000 shares of common stock. Each of the issuances was exempt pursuant to Section 4(2) of the Securities Act since the issuance was not made in a public offering and was made to an entity whose principals has access to detailed information about the Company and which was acquiring the shares for its own account. There was no underwriter.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None.
ITEM 5. OTHER INFORMATION
None.
ITEM 6. EXHIBITS
The following are exhibits filed as part of the Company's Form 10-QSB for the period ended June 30, 2006:
Exhibit Number Description
31.1 Certification of Chief Executive Officer and Chief Financial Officer pursuant to Rule 13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1 Certification of Chairman and Chief Executive Officer and President, Chief Operating Officer and Acting Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to the Sarbanes-Oxley Act of 2002.
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SIGNATURES
Pursuant to the requirements of Section 13 or 15 (d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized on the date indicated.
GS ENERGY CORPORATION By: /S/ KEVIN KREISLER ----------------------- KEVIN KREISLER Chairman and Chief Executive Officer Date: August 21, 2006
/S/ JAMES GRAINER ---------------------- By: JAMES GRAINER Director, Chief Financial Officer, Chief Accounting Officer Date: August 21, 2006
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Exhibit 31.1
CERTIFICATION OF QUARTERLY REPORT
I, KEVIN KREISLER, certify that:
1. I have reviewed this Annual Report on Form 10-QSB of GS Energy Corporation;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:
a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and,
c. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the Company's Board of Directors of the registrant's board of directors (or persons performing the equivalent functions):
a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and,
b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
/S/ KEVIN KREISLER KEVIN KREISLER Date: August 21, 2006
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8
Exhibit 31.2
CERTIFICATION OF QUARTERLY REPORT
I, JAMES GRAINER, certify that:
1. I have reviewed this Quarterly Report on Form 10-QSB of GS Energy Corporation;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:
a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and,
c. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the Company's Board of Directors of the registrant's board of directors (or persons performing the equivalent functions):
a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and,
b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
/S/ JAMES GRAINER ------------------------------ JAMES GRAINER
Date: August 21, 2006
[GRAPHIC OMITTED] 8
Exhibit 32.1
CERTIFICATION OF PERIODIC REPORT
Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, each of the undersigned officers of GS Energy Corporation (the "Company"), certifies that:
1. The Quarterly Report on Form 10-QSB of the Company for the Quarter ended June 30, 2006 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and
2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
/S/ KEVIN KREISLER Dated: August 21, 2006 KEVIN KREISLER Chief Executive Officer /S/ JAMES GRAINER Dated: August 21, 2006 JAMES GRAINER Chief Financial Officer
This certification is made solely for the purpose of 18 U.S.C. Section 1350, subject to the knowledge standard contained therein, and not for any other purpose.
</TEXT> </DOCUMENT>
Exhibit 31.1
CERTIFICATION OF QUARTERLY REPORT
I, KEVIN KREISLER, certify that:
1. I have reviewed this Annual Report on Form 10-QSB of GS Energy Corporation;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:
a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and,
c. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the Company's Board of Directors of the registrant's board of directors (or persons performing the equivalent functions):
a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and,
b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
/S/ KEVIN KREISLER ------------------------------------- KEVIN KREISLER
Date: August 21, 2006
</TEXT> </DOCUMENT>
Exhibit 31.2
CERTIFICATION OF QUARTERLY REPORT
I, JAMES GRAINER, certify that:
1. I have reviewed this Quarterly Report on Form 10-QSB of GS Energy Corporation;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:
a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and,
c. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the Company's Board of Directors of the registrant's board of directors (or persons performing the equivalent functions):
a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and,
b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
/S/ JAMES GRAINER -------------------------------- JAMES GRAINER
Date: August 21, 2006
</TEXT> </DOCUMENT>
Exhibit 32.1
CERTIFICATION OF PERIODIC REPORT
Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, each of the undersigned officers of GS Energy Corporation (the "Company"), certifies that:
1. The Quarterly Report on Form 10-QSB of the Company for the Quarter ended June 30, 2006 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and
2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
/S/ KEVIN KREISLER --------------------------------------- Dated: August 21, 2006 KEVIN KREISLER Chief Executive Officer
/S/ JAMES GRAINER --------------------------------------- Dated: August 21, 2006 JAMES GRAINER Chief Financial Officer
This certification is made solely for the purpose of 18 U.S.C. Section 1350, subject to the knowledge standard contained therein, and not for any other purpose.
Posted by J_U_ICE on :
DYSL (.75)and EMF Announce Acquisition Agreement Business Editors
WEST BERLIN, N.J.--(BUSINESS WIRE)--Aug. 21, 2006-- Dynasil Corporation of America (OTCBB:DYSL) and Evaporated Metal Films Corp. of Ithaca, New York ("EMF") are pleased to announce that a definitive agreement has been signed for Dynasil to acquire 100% of the stock of EMF for a cash payment at closing. Dynasil is a manufacturer of optical blanks from synthetic fused silica and other optical materials as well as optical components and specialized optical systems for the laser, optical instrument, and general optics markets. EMF Corporation produces optical thin-film coatings for a broad range of application markets including display systems, optical instruments, satellite communications, and lighting. EMF has optical coatings capabilities that are targeted additions to those currently offered by Dynasil including its Optometrics subsidiary.
Consummation of the transaction is contingent upon several important conditions including successful completion of debt and equity financing efforts which are currently well underway. The transaction closing is currently scheduled for October 2, 2006. The current EMF owner and CEO, Ms. Megan Shay, plans to continue in an active leadership role and executive position for at least one year after closing. If consummated, Dynasil's plan is for EMF to continue to operate from its Ithaca, N.Y. facility as a Dynasil business unit. Ms. Shay commented that "This is a very positive development for EMF customers and employees since Dynasil brings increased capabilities and resources to EMF." The acquisition of EMF is expected to immediately increase Dynasil revenues by 40-50% and to contribute significant net income in the future. Mr. Craig Dunham, Dynasil's President and CEO, had the following comments on the definitive agreement: "I believe that EMF will be an excellent addition to Dynasil with EMF's broad capabilities for optical coatings, strong people, and optical customers and markets that fit well with Dynasil. EMF and Dynasil have some complementary strengths that we expect will result in increased growth and profitability for both companies."
About Dynasil: Founded in 1960, Dynasil Corporation of America is a fabricator of optical blanks from synthetic fused silica, fused quartz, and other optical materials for the semi-conductor, laser, space and optical components industries, and its subsidiary, Optometrics Corporation, is a worldwide supplier of optical components including diffraction gratings, thin film filters, laser optics, monochromators, and specialized optical systems.
This news release may contain forward-looking statements usually containing the words "believe," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act. Future results of operations, projections, and expectations, which may relate to this release, involve certain 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, the factors detailed in the Company's Annual Report or Form 10-KSB and in the Company's other Securities and Exchange Commission filings, continuation of existing market conditions and demand for our products.
KEYWORD: NORTH AMERICA NEW JERSEY PENNSYLVANIA UNITED STATES INDUSTRY KEYWORD: TECHNOLOGY ELECTRONIC DESIGN AUTOMATION MANUFACTURING ENGINEERING MERGER/ACQUISITION SOURCE: Dynasil Corporation of America
CONTACT INFORMATION: Dynasil Corporation of America Craig