FENTON, Mich., Dec 09, 2005 (BUSINESS WIRE) -- ZANN Corp (OTCBB:ZNNC). Zann Corp (The "Company") announced today that it has entered into a Standby Equity Distribution Agreement ("SEDA") with Cornell Capital Partners, LP ("Cornell") whereby they have agreed to purchase $5 million of Zann Corp common stock. Under the SEDA, Cornell Capital has committed to provide up to $5 million of funding to be drawn down over a 24-month period at Zann's discretion. In consideration of entering into the agreement, Zann Corp has also issued shares of common stock and warrants to purchase common stock to Cornell and to the placement agent for the transactions contemplated by the SEDA.
According to Robert C. Simpson, Zann Corp CEO, "The successful execution of this agreement with Cornell is part of the plan to enable Zann to increase our production capacity to meet the requirements related to sales projections for our semi-automatic riveting system as well as operating capital needed for growth."
David Andresen, Vice President at Cornell Capital Partners, L.P., stated: "We are excited about a long-term relationship with Zann Corp. We are looking forward to working with the Company's management team and providing them with expansion capital."
ABOUT ZANN CORP
ZANN Corp. Our primary business is the manufacture and sale of high quality, high value semi automatic riveting tools and magazines. For additional information please visit the corporate website at: www.zanncorp.com
ABOUT CORNELL CAPITAL PARTNERS, LP
Cornell Capital Partners, LP is a U.S.-based private equity fund. The Fund is managed by Yorkville Advisors, LLC. The Fund is headquartered in New Jersey, with offices in California, New York and London (UK). Since inception in 2001, the Fund has made available in excess of $1.5 billion to over 250 publicly traded corporations. For more information please visit: www.cornellcapital.com
Zann Corp. cautions that statements included in this press release that are not a description of historical facts are forward-looking statements. You can identify these statements by the fact that they do not relate strictly to historical or current facts and use words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe" and other words and terms of similar meaning in connection with a discussion of future operating or financial performance or events. Examples of such statements include the statements above regarding Cornell's commitment to fund and the Company's receipt of $5 million from Cornell pursuant to the SEDA, and the increase of our production capacity with Cornell's investment. The inclusion of these and other forward-looking statements should not be regarded as a representation by the Company that any of its plans will be achieved. Actual results may differ materially from those set forth in this press release due to the risks and uncertainties inherent in the Company's business, including, without limitation, risks detailed in the Company's Securities and Exchange Commission filings, including its Annual Report on Form 10-KSB and other reports filed with the Securities and Exchange Commission. Given these uncertainties, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and the Company undertakes no obligation to revise or update this press release including the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the futu
-------------------- Trading is a blast!! Posts: 4921 | From: Rhode Island | Registered: May 2005
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ZANN CORP’s mission is to develop and accelerate growth of scalable technologies and systems - semi-automatic riveting, antibody and gene therapy, and nutraceuticals, managing performance for contribution to overall significant growth that enables building a company with a diverse range of high quality, high value products and services for niche markets where we can excel in all areas of performance.
-------------------- Ride that wave Posts: 87 | From: Hawaii | Registered: Jan 2006
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Sartam Industries is the world patent owner of the of the AUTOFAST 2000 Technology - The only semi-automatic riveting system of it's kind in the world!
The AUTOFAST 2000 is the only self-contained, portable, semi-automatic blind rivet application tool on the market today. Because of its simplicity, and unique design, this manufacturer friendly, industrial grade riveter offers high reliability, and can also be adapted to various power sources. Whether the AUTOFAST 2000 is used in factory setting, or at a job site, more efficient, cost-effective riveting is the result of this versatile, portable tool.
-------------------- Ride that wave Posts: 87 | From: Hawaii | Registered: Jan 2006
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quote:Originally posted by Levon: That is very incorrect capital is capital does not matter where is comes from.
For example look at MOBL.OB
When it got an Equity Commitment from Cornell capital back in May it ran from 15 cents to 40 cents in about three weeks.
Nothing Toxic about that.
Actually, a Cornell connection *should* raise flags, especially for anyone contemplating a long position...
read up on toxic financing and you'll see that Cornell has fit the pattern many times. I've seen posts indicating that Cornell has changed its ways, but no one so far has provided the evidence...
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Robert C. Simpson, PhD Chairman-CEO, ZANN Corp.
Dr. Simpson has over 40 years management and business experience with the foundation of management and leadership beginning with four years in the U.S. Marines. He has completed four mergers/spin-offs, taken two companies public and is facilitating the third. Dr. Simpson has been CEO of Cryptobe et al, from 1993 - present. From 1990 - 1993 he was President of R. Simpson Associates, Inc., a management consulting firm with several clients including General Electric, Ford, RWD Technologies Inc. and Symbol Technologies Inc. He is a hands-on manager with extensive team building and methods implementation skills. He was manager at General Motors for 15 years in Manufacturing Engineering, Projects for Advanced Technologies, and Organizational Development. Dr. Simpson has played key roles up to and including fiduciary responsibilities in over fifteen business start-ups worth more than $3 billion in capitalization. He spent over 30 years attending college mostly in the evenings and week-ends to earn a well rounded education in business, leadership, education, statistics, electronics and manufacturing technology.
Schools attended were: Naval Air Technical Training Center, Avionics Technician, A.T.; Mott Community College/UAW/GM, Electrical Journeyman, E.J.C.; Mott Community College, Mechanical Technology, A.A.S., Business Administration, A.A.; University of Michigan, Business Administration, B.B.A.; Central Michigan University, Industrial Management, M.A.; Michigan State University, Education (Inc.), Ph.D.; Eurotechnical Research University, Business Administration, Ph.D. These degrees and certificates were earned over a 30 year period at an average rate of approximately 15 credits per year.
Affiliations: Dr. Simpson is a member of the Knights of Columbus and a Brigadier General in the National Chaplains Corps and he is actively involved in charities and non-profits in the local area.
-------------------- Ride that wave Posts: 87 | From: Hawaii | Registered: Jan 2006
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posted
Interesting invention! I noticed this stock last week too, and picked up a little starter.
-------------------- "As long as there are dreamers, there are dreams that will come true." Posts: 862 | From: CT Yankee..... in FLA | Registered: Aug 2005
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Price Relativity From 40 Day High 66% From 40 Day Low 167%
From 80 Day High 66% From 80 Day Low 167%
From 150 Day High 41% From 150 Day Low 167%
Support/Resistance 5 Day Support $0.02 5 Day Resistance $0.04
15 Day Support $0.02 15 Day Resistance $0.04
80 Day Support $0.01 80 Day Resistance $0.04
Pivot Analysis Price Pivot $0.02
Day Resistance 1 $0.03
Day Support 1 $0.02
Day Resistance 2 $0.03
Day Support 2 $0.02
Recent Moves Gain/Loss - 10 day 19%
Gain/Loss - 30 day 47%
Gain/Loss - 60 day -7%
Gain/Loss - 200 day 52%
Consolidations Short Term No
Medium Term No
Long Term Yes
Today's Trading Gap Down Gap
Candle Neutral
Volume Indicators Volume Averages 20 Day Avg Vol 264,600
Today / 20 Day Avg Vol Below
150 Day Avg Vol 111,809
Today / 150 Day Avg Vol Above
Today's Trading Abnormal Volume None
Abnormal Trades N/A
WILLIAM VOLUME ACCUMULATION: Bearish VOLUME PRICE TREND: Bullish
Momentum Indicators Trend 10 Day Trend Bullish
40 Day Trend Bearish
100 Day Trend Bearish
STOCHASTICS: Neutral RSI: Neutral MACD: Bullish
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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Ummm chart doesnt look so hot....doesnt look like major running this week either unless BIG news comes, volume is DEAD on this one, could change though i dunno ill keep an eye on it...
Posts: 3086 | From: miami | Registered: Nov 2005
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revenues dont meant profits...thats the OTC, you gotta find companies with at least some profit...
Posts: 3086 | From: miami | Registered: Nov 2005
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Spring has sprung here in the Orlando area. The sun in shining, flowers are blooming and the wildlife is bustling almost as much as we are. 2005 was a year of cutting through governmental red tape and delays. 2006 is the year of growth and action. I’d like to thank all of you for hanging in there with us through it all.
Over the past couple of weeks I have been presented with a list of our buyers most frequently asked questions and I’d like to take this time to address as many of them as I can.
First let me start by saying that construction on Millbrook Manor is set to commence on April 11th and things will be moving at full speed from here on out. No dates are available on Winslow just yet, as water remains an issue in Polk County. We have been allocated water, but Polk County has yet to receive any water. Please feel free to contact Polk County Water Utility at 863-298-4100 for any information regarding these delays.
On the web: We did not have much to report in the last few months and you’ve asked for more web updates. So, we are making the commitment to produce regular status reports as well as adding a FAQ page (Frequently Asked Questions) to keep you informed.
Options and upgrades are on the way. We’ve had some programming issues and these have been straightened out and the final details on the Millbrook login are being completed with Winslow to follow shortly. Please call the sales office with your email address to ensure proper receipt of your login and password information.
Any questions regarding pool and spa options can be directed to Tom Fogarty at: 352-394-6629 or by e-mail at tfogarty*platinumpropertiescfl.com. Information regarding furniture packages can be directed to Pat Strong at Hudson’s Furniture at: 407-210-1870 or by email at hudvacint*hudsonsfurniture.com.
Many of you have called to question receipt of email correspondence from Grimaldi Capital Funding. Early on we partnered with Grimaldi Capital Funding to provide mortgage lending options to our customers. They were unable to perform to the level that we required for our buyers, so we have asked that they remove themselves from our Preferred Lender list. This will not affect the building of your homes in any way, they do not currently nor have they ever provided funding directly to Platinum Properties. Should you receive any further correspondence from them please let us know.
Any questions regarding lending options can be answered by contacting the following preferred lenders:
Brad Blastick, Sales Manager with National City Mortgage at: 678-566-5135 or via email to: brad.blastick*ncmc.com. Roxanna Roadarmel, Mortgage Consultant with Anointed Financial Services, LLC at 863-393-2432 or via email to roxanna*anointedfinancialservices.net. Jay Fulbright, Mortgage Loan Officer with Fifth Third Bank at 407-812-7440 or via email to jay.fulbright*53.com.
-------------------- Ride that wave Posts: 87 | From: Hawaii | Registered: Jan 2006
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I called the office number listed on the filings in Fenton, MI
Was told just this morning the former CFO is no longer associated not even on the BODirectors.
New things coming. New filings will reveal. I didn't get any other details.
They owned Patho-biotec, and that was supposed to have great things, but I'll have to research it again.
So, nothing official, just conversation, and no other details.
It appears to have dropped price on tiny vol compared to the buying up to 4cents. So i'm thinking since so many MM's are on it, they know something I don't.
-------------------- Ride that wave Posts: 87 | From: Hawaii | Registered: Jan 2006
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know I'm responsible for a fraction of the action. I've been quietly adding here, started at .02 and thought I would have more time. The increased vol is very noticeable. Hoping that the merger goes through, encouraging to see the management of ZNNC being shifted to Platinum Properties control. Hope it all works out, definitely not in this for a few cents pop. In for the merger and ticker change, etc. http://www.zanncorp.com/ Trying not to go too deep too fast, not knowing when or if this is a real "go".
-------------------- Ride that wave Posts: 87 | From: Hawaii | Registered: Jan 2006
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quote:Originally posted by Levon: I called the office number listed on the filings in Fenton, MI
Was told just this morning the former CFO is no longer associated not even on the BODirectors.
New things coming. New filings will reveal. I didn't get any other details.
They owned Patho-biotec, and that was supposed to have great things, but I'll have to research it again.
So, nothing official, just conversation, and no other details.
It appears to have dropped price on tiny vol compared to the buying up to 4cents. So i'm thinking since so many MM's are on it, they know something I don't.
Wow--you got ahold of somebody on Sunday...
and you got told "new things coming" man, you must have quite a pipeline into the company... What is "Patho-biotec" ?
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Pathobiotek Diagnostics Inc., a HARC affiliate and developer of products for the diagnosis and evaluation of treatment for multiple sclerosis (MS) and other immune disorders, will present an abstract at the 101st annual meeting of the American Society for Microbiology on May 24 in Orlando, Florida.
Elena Jouravleva and Kathleen MacPhee, scientists at Pathobiotek, will deliver a poster presentation focusing on the quantitation of HBB1 directly from human blood through reverse transcriptase - polymerase chain reaction (RT-PCR) analysis. HBB1 is the working name of the bacteria discovered by scientists at Pathobiotek. The preliminary data reported will provide a quantitative view of HBB1 controls in samples obtained from multiple sclerosis patients as compared to healthy controls.
-------------------- Ride that wave Posts: 87 | From: Hawaii | Registered: Jan 2006
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