HOUSTON, Nov 28, 2007 (*********wire via COMTEX) -- BlueStar Health, Inc. (Pink Sheets:BLSH) announced today that the Company's principal operating business, Zeon Fuel, Inc., has received a commitment for a commercial credit facility that will enable Zeon to acquire enough retail fuel distribution centers, including truck stops and gas stations, to exceed the Company's growth projections over the next 3 years. The signed agreement with Walker Commercial Funding (WCF), a respected international commercial lender, provides for commercial debt financing -- up to 100% loan-to-value (LTV) -- for each retail acquisition target location, contingent upon certain debt coverage conditions. The committed credit facility is non-equity-based and will not convert into any equity in BlueStar or Zeon now or at any time in the future.
Zeon's business strategy calls for the purchase or lease of targeted locations, either individually or in groups of locations, which will allow the Company to project growth and control sales with greater certainty. Chairman Naved Jafry commented, "Having the ability to secure locations quickly is important to our goal of getting the story out and introducing our customers to the benefits of biodiesel and other bio-fuels." He added, "For this industry to succeed in achieving more than a token level of sales, we must have a commercially viable network in place. This facility will allow Zeon to contribute substantially to that goal."
Brian Walker, Executive Vice President of Walker Commercial Funding said, "We are excited by the opportunity to support Zeon Fuel in its growth plan. While the financing metrics of each property or group of properties will be evaluated on a case-by-case basis, we have already secured private funding sources for Zeon's acquisitions that are not only well-versed in Zeon's business, but are also excited about making a difference in the environment as well."
BlueStar Chief Executive, Rick Greenwood stated, "It is very encouraging that our existing business and management team has garnered a commitment from WCF, particularly given the current credit environment. This funding represents a critical piece of our overall financing requirements and we are comfortable the terms fall nicely within the parameters of what we would be looking for in underlying performance of candidate locations."
Biodiesel Fact: Biodiesel is a proven fuel with over 30 million successful U.S. road miles, and over 20 years of use in Europe.
About BlueStar Health
BlueStar, through its wholly owned subsidiary Zeon Fuel, Inc., is engaged in the business of blending purchased bio-diesel and petroleum diesel fuels and distributing the blended product through retail outlets. The company intends to expand its distribution through owned and leased facilities as well as fuel contracts with retail outlets. For more information on BlueStar's primary operating entity, Zeon Fuel, Inc., please visit www.zeonglobalenergy.com
About Walker Commercial Funding
Walker Commercial Funding (WCF) is an international commercial funding source that offers comprehensive solutions to commercial financing needs that are often unavailable through banks or traditional commercial channels. For more information on WCF, please visit www.walkercommercialfunding.com.
Forward-Looking Statements
This news release includes comments that may be deemed forward-looking within the meaning of the safe harbor provisions of the U.S. Federal Securities Laws. These include, among other things, statements about expectations of future events or transactions, sales of products or performance. Forward-looking statements are subject to risks and uncertainties that may cause the company's results to differ materially from expectations. These risks include the company's ability to execute its business plan, having necessary financing in time to meet contractual obligations and support the business activity, and other such risks as the company may identify and discuss from time to time, including those risks disclosed in the company's current and future filings with the Securities and Exchange Commission. Accordingly, there is no certainty that the company's plans will be achieved.
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OXiGENE's ZYBRESTAT(TM) Reported to Have Anti-Leukemic Effects in Preclinical Studies Published in Blood Wednesday November 28, 9:00 am ET Results Suggest Broader Clinical Potential for Novel Anti-Cancer Drug Candidate
IRVINE, Calif.--(BUSINESS WIRE)--Verizon’s announcement that it will allow phone and mobile device manufacturers to connect to their network signals huge business opportunities for Hop-on, Inc. (OTC:HPNN), a leading developer and marketer of wireless phones and accessories and the foremost creator of mobile gambling technology.
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Got a partial at .0055...14,800 shares to be exact... lol... Have not played a sub in a while but that was fun...Made enough to cover my trade and had a good time doing it...Thanks for the heads up guys...
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wdam (.002) U.S. Air Force Awards World Am's Senz-It Subsidiary $417,000 Biological Development Contract; Second Phase Agreement Could Yield Additional $1,400,000 in Fees in 2008
Thursday, November 29 2007 8:59 AM, EST *********wire "*********wire " NEWPORT BEACH, Calif., Nov. 29, 2007 (PRIME NEWSWIRE) -- World Am, Inc. (OTCBB:WDAM) today reported that its Senz-It, Inc. subsidiary has been awarded a United States Air Force biological development contract, worth up to $417,000 . Under terms of the agreement, Senz-It will have the opportunity to prove the feasibility of its detection technology by providing test stations to detect and measure biological substances that are potential threats to the U.S. military. Under the terms of the agreement, the company will be reimbursed for expenses, up to $417,000 , spent to set up and test its detection technology for the United States Air Force. The company also announced that it has already submitted a proposal for a follow-on second phase of this detection effort that, if granted, could lead to additional fees of $1,400,000 in 2008. "This project will enable the Air Force Institute for Operational Health's Applied Technology Center, at Brooks City Base in Texas , to evaluate Senz-It's patented technology and compare it with other testing methodologies," said Robert A. Hovee, World-Am's Chairman and CEO. "This award is a major milestone in our commercialization efforts," Mr. Hovee said. "It underscores the significant potential applications of Senz-It's cutting-edge technology. "This initial development assignment from the Air Force is intended to launch and deploy a new generation of detection technologies to identify and quantify potential threats to our military's safety. "The ability to create a platform that provides the instant, simultaneous measurement of chemical and biological analytes is the goal," said the CEO. "Confirming our technology's promise, by successfully performing under this Air Force development contract, would help substantiate our belief in this technology. The second phase would continue the efforts covered under the initial contract and could take the project to initial implementation." Senz-It's core detection technology, developed to detect and measure biological substances, is based on molecular imprinted xerogels with a fluorescent report molecule, affixed to the immediate proximity of the target's binding site within the xerogel. Senz-It technology's unique advantages include:
* Specificity comparable to monoclonal antibodies, but processed and detected in seconds, not hours * Robustness and stability under extreme chemical and physical environmental conditions * Detection capabilities with minimal cross-reaction among neighboring analytes, and * An extremely low false-positive detection rate. World Am has two operating subsidiaries, Senz-It and Isotec. Senz-It represents an innovative advancement in the field of micro-sensors that has applications in Homeland Security, indoor air quality monitoring, food safety, and health care. Its potential products are intended to compete in the developing field of real-time detection and notification devices, and are being designed to identify patterns of molecules present in liquid, and gas environments for significantly less cost than current approaches. Senz-It's sister subsidiary is Isotec, whose solutions provide "Protection, not just Detection." It develops, integrates and supplies Automated Security Portals, broadly categorized as access control, weapons control, or materials control systems that rigorously control entry or exit of people and materials into and/or out of a facility, while reducing the need for security personnel. Applications of the technology have been delivered to the commercial, retail and government sectors. Isotec's experience in this field allows it to provide high quality, code compliant, application-optimized solutions at the lowest cost in the shortest timeframe. Additional information on the company is available at http://www.world-am.com. Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward looking statements are further qualified by other factors including, but not limited to those, set forth in the World Am, Inc. Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at www.sec.gov). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise. CONTACT: World Am, Inc. Investor Relations (951) 279-8884
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