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SVSE (.125)Silver Star Energy -- Private Share Acquisition
LOS ANGELES, CA -- (MARKET WIRE) -- 08/25/06 -- Silver Star Energy, Inc. (OTCBB: SVSE) has received notice of the private purchase of 11,700,000 restricted shares of the Company by Mr. William Marshall from Mr. Sak Narwal. Management has been advised that these shares represent Mr. Narwal's entire share position.
ABOUT SILVER STAR ENERGY, INC.
The Company is committed to the exploration and extensive development of oil and natural gas reserves throughout western North America. Company management is focused on an acquisition program targeting high quality, low risk prospects provided via key strategic alliance partnerships.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the acquisition of oil and gas reserves, (specifically respecting new drilling and production activities at North Franklin) any near-term production or cash flow and our ability to become cash flow positive in the short term to allow us to re-invest production dollars to enhance and grow company assets. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the numerous inherent uncertainties associated with oil and gas exploration. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the 2005 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Entertainment Is Us, Inc. Files Form 8-K Regarding Japanese Legal Counsel Opinion and Reliance on Previously Issued Financial Statements Business Editors
CHICAGO--(BUSINESS WIRE)--Aug. 25, 2006-- Entertainment Is Us, Inc. (OTC BB: EIUSE) today announced that it has filed a Form 8-K with the Securities and Exchange Commission (SEC) disclosing its receipt of an opinion by its Japanese legal counsel that a share exchange transaction relating to the acquisition of Sankyo Corporation ("Sankyo") by a subsidiary of the Company is invalid and void under applicable Japanese corporate statutes. Sankyo owns and operates five Pachinko parlors in Japan. Additionally, Sankyo owns the Pachinko parlor land and buildings, two commercial buildings, a building consisting of 30 one-room condominiums, and 15 parking lots in Shizuoka City.
Although the conclusions in this legal opinion have not been tested in any Japanese court or with any other Japanese governmental authority, the Company's Board of Directors has determined that there is a serious question as to whether the Company effectively acquired Sankyo. Consequently, on August 25, 2006, the Company's Board of Directors concluded that certain financial statements previously issued by the Company may no longer be relied upon because they include the assets, liabilities and operations of Sankyo. If the Japanese legal counsel's opinion is correct, the Company does not and has never owned Sankyo.
The Company's Board of Directors intends to take appropriate action to rectify this issue on behalf of the Company's public stockholders. The Company's Board is also actively reviewing legal options, including alternative transactions under Japanese law, to cause Sankyo to become a subsidiary of the Company or to otherwise cause the Company to own all of the assets of Sankyo. At this time, the Company can make no assurance that it will be successful in identifying viable legal options.
Global Business Development, L.L.C. ("GBD"), an entity connected with Peter David Voss, Naoya Yoshikawa and other individuals had been engaged by the owner of Sankyo to take the Company public in the U.S. GBD was engaged to structure the transactions that resulted in the Sankyo Share Exchange and the EIU (Entertainment is Us Nevada, or "EIU NV") Share Exchange. EIU NV was the company formed by Voss (and of which he was president) and was to be merged with Sankyo through a share swap. EIU NV was also subsequently intended to be merged into EIU DE ("Entertainment is Us Delaware").
Mr. Voss, an Australian national, formed EIU and was the President of EIU at the time of the structuring of the Sankyo Share Exchange, and arranged for EIU to issue shares of its common stock to a number of companies purportedly as compensation for his services. These companies are now listed as stockholders of the Company. Certain of these companies have also been reported to be stockholders of two other U.S. public companies, Global Realty Development Corp. (OTC BB: GRLY) and Solpower Corporation (Pink Sheets: SLPW). The activities of Mr. Voss and these other individuals and entities are among the matters being investigated by the Company's special investigation counsel, Stillman, Friedman & Shechtman, P.C. At the appropriate time, the Company will consider whether to pursue claims against Mr. Voss and other persons.
Further details are available in the Company's Form 8-K filing available at http://www.sec.gov.
KEYWORD: ASIA PACIFIC NORTH AMERICA ILLINOIS UNITED STATES JAPAN INDUSTRY KEYWORD: ENTERTAINMENT CASINO/GAMING PROFESSIONAL SERVICES FINANCE LEGAL CONTRACT/AGREEMENT MERGER/ACQUISITION SOURCE: Entertainment Is Us, Inc.
CONTACT INFORMATION: Entertainment Is Us, Inc. Noriyuki Kanayama Chief Executive Officer
or Entertainment Is Us, Inc. Shareholder Relations EIUS*jcir.com or 212/835-8524
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China Health Holding Announces Execution of Definitive Acquisition Agreement for 60% of Henan Furen Huaiqingtang Pharmaceutical Co. Ltd. 8/25/2006
LAS VEGAS, Aug 25, 2006 (BUSINESS WIRE) -- Julianna Lu, President/CEO of China Health Holding, Inc. (OTCBB:CHHH), a developer, marketer and manufacturer of natural herbal supplement products based on traditional Chinese medicine, announced today that CHHH has executed a definitive acquisition agreement with Henan Furen Huaiqingtang Pharmaceutical Co. Ltd. and Henan Furen Pharmaceuticals Group Co. Ltd. and the shareholders of Henan Furen Huaiqingtang Pharmaceutical Co. Ltd. for the acquisition 60% of the outstanding stock of Henan Furen Huaiqingtang Pharmaceuticals Co. Ltd. (HFHP).
Pursuant to the acquisition agreement, CHHH agreed to pay $95 million (RMB) for 60% of the outstanding stock of HFHP.
HFHP is a China FDA certified GMP standards pharmaceutical drug manufacturer based in Zhengzhou PR China. HFHP which has a total list of forty-six China-FDA certified pharmaceutical drugs that are distributed to China-FDA Licensed Hospitals and drug stores across Henan province and across PR China.
The parties have agreed to use their best efforts to complete the transactions contemplated by the Agreement within 60 business days from the execution of the Agreement. Prior to closing, however, all closing conditions, including, but not limited to, the completion of satisfactory legal and financial due diligence, as well as the delivery of stock certificates to the Company evidencing the ownership of the Sellers of the shares of Henan Furen Huaiqingtang Pharmaceutical Co. Ltd. must be satisfied.
CHHH believes that the acquisition of HFHP will create incremental value to the Company and its shareholders as a result of the expected contribution from HFHP on the Company's results of operations and assets. Management believes that by acquiring HFHP, CHHH will obtain established China-FDA Certified Pharmaceutical Drug GMP manufacturing facilities, gain access to extensive hospital and drug stores distribution channels in China, and obtain the rights to 46 China-FDA certified pharmaceutical drugs. The Company further believes that, from a strategic perspective, this acquisition will save both time and money as it would have required substantial time and capital investment to gain access to the resources and facilities of HFHP which the acquisition facilitates for the Company.
About China Health Holding, Inc.
China Health Holding, Inc., has an extensive knowledge of and expertise in the field of Traditional Chinese Medicine, which it uses to develop, manufacture, and commercialize natural herbal medicinal products and a comprehensive line of completely natural multi-vitamins and mineral food supplements. The Company's medicinal philosophy includes elements of traditional Taoist teachings and medical research related to the "King of Herbs" and significant herbal plants and minerals.
CHHH's immediate goal is profitable penetration of the growing global and China pharmaceutical industry and market and to seek and develop potential acquisition candidates with major pharmaceutical companies in PR China and worldwide to secure a strong future and powerful position in the global and PR China pharmaceutical industry. Long-term plans include the development of a pharmaceutical drug pipeline and technology based on the Company's access to the knowledge of Traditional Chinese Medicine and PR China pharmaceutical industry.
CHHH is supported by two core, wholly owned subsidiaries:
-- 1. China Health World Pharmaceutical Corporation, which will develop, manufacture and commercialize natural medications for epidemic diseases and conditions related to mellitus, cardiovascular and cerebral-vascular system dysfunctions, and neurological disorders.
-- 2. China Health World Trade Corporation, which will support CHHH in the areas of worldwide branding, multimedia marketing and multi-channel distribution to global customers and markets.
Recent Developments:
CHHH recently entered into letters of intent to acquire 51% or more of four pharmaceutical companies in PR China, as follows:
-- Shaanxi Wanan Pharmaceutical Co. Ltd.
-- Henan Tiankang Pharmaceuticals Co. Ltd.
-- Shaanxi Meichen Pharmaceuticals Co. Ltd.
CHHH believes that the completion of these acquisitions will enable it to vertically integrate its operations from manufacturing, developing and marketing Chinese herbal based medicinal products, as well as a pharmaceutical drug pipeline, to full distribution and marketing across PR China, therefore substantially increasing profit margins. Acquisitions should accelerate growth of revenues and earnings. A strategic combination of assets, net income, an enhanced pharmaceutical drug pipeline and technologies will accrete value to the Company and its shareholders.
CHHH also recently signed a letter of intent with WangJing Hospital and the WangJing Hospital of China Academy of Chinese Medical Sciences, PR China, in order to develop the China International University of Traditional Chinese Medicine and the University Hospital for Traditional Chinese Medical Sciences.
Safe Harbor
To the extent that statements in the press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, all forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements and any other cautionary statements, which may accompany the forward-looking statements, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Other important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the Company's industry and general economy; competitive factors; ability to attract and retain personnel; the price of the Company's stock; 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. In addition, the company disclaims any obligation to update or correct any forward-looking statements in all of the Company's press releases to reflect events or circumstances after the date hereof.
SOURCE: China Health Holding, Inc.
China Health Holding, Inc. (Las Vegas) Julianna Lu, President/CEO, 778-893-8909 Fax: 1-604-601-2078 info*chinahealthholding.com www.chinahealthholding.com
Copyright Business Wire 2006
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AETR (.77)Breakthrough in Removing Deadly Landmines Business Editors
MILL VALLEY, Calif.--(BUSINESS WIRE)--Aug. 25, 2006-- The Alliance Enterprise Corporation ("TaeCorp")(Pink Sheets:AETR) announced today a breakthrough in developing an Aerial Landmine System aimed at locating, detecting and mapping deadly landmines.
More than 100 million landmines in 83 countries are holding international communities and industries hostage, preventing the investment in and development of productive lands and the re-building of infrastructure. A broad variety of landmines have been scattered over productive areas effectively crippling the economy and disabling thousands of children and adults. There are no reliable records that accurately show where these devastating landmines lie in wait for their victims.
With the present day costs to clear a single land mine ranging between $1,000 to $1,500, solving the problem of de-mining lands will reach billions of dollars. TaeCorp has developed a technology-based, cost effective solution to this problem using its unique four phased approach to evaluating, scanning, mapping and removing landmines. TaeCorp's System will provide many social and economic benefits to countries and their industries including oil and gas, mining, agriculture, roads and infrastructure development.
About TaeCorp.
TaeCorp's vision is to be the recognized leader in providing Aerial Detection Systems including global de-mining, clearing a path to a safer planet for all humankind.
TaeCorp's mission is to reclaim lands around the globe embedded with landmines that victimize countries and their stakeholders.
KEYWORD: NORTH AMERICA CALIFORNIA UNITED STATES INDUSTRY KEYWORD: GOVERNMENT PRODUCT/SERVICE SOURCE: The Alliance Enterprise Corporation
CONTACT INFORMATION: Alliance Enterprise Corp. James Pinhey or Diane Hunt, 877-278-0107 diane*taecorp.com
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Response Biomedical Reports 2006 Second Quarter Results 8/25/2006
VANCOUVER, Aug. 25, 2006 (Canada NewsWire via COMTEX News Network) -- Response Biomedical Corporation (TSX-V: RBM, OTCBB: RPBIF) announced today financial results for the second quarter ended June 30, 2006. The Company's second quarter financial report is available at www.sedar.com,www.edgar.com, and Response Biomedical's website. Unless otherwise specified, all amounts are expressed in Canadian dollars.
Second quarter operating highlights:
<< - Recorded total revenues of $1,122,365, including $812,070 from product sales for the quarter ended June 30, 2006; - Advanced several key new product development programs toward commercialization including: - finalized and entered into a supply agreement with our Japanese partner Shionogi & Co., Ltd. and prepared for Shionogi's market launch of our rapid BNP Test funded by Shionogi for use in the prognosis and detection of congestive heart failure in Japan. Subsequent to the quarter end, the Company announced it had received an initial purchase order from Shionogi for 200 systems all of which have been now shipped; and - achieved further development milestones on a rapid Staph A infectious disease test funded by 3M Medical Division, which is preparing to commence clinical trials; - Initiated the purchase of additional manufacturing equipment to increase the Company's test manufacturing capacity to an estimated 330,000 tests per month per shift; and - Initiated development of the Company's next generation RAMP Reader. >>
"I am confident that, with the RAMP NT-proBNP Test now in clinical trials, we are putting the building blocks in place for revenue to meet our expectations in the near-term in the large and growing cardiovascular rapid testing market and longer-term in the infectious disease rapid testing market," said Mr. Bill Radvak, President and CEO.
"The recently completed agreement with Shionogi & Co., Ltd. for the supply of RAMP BNP Tests in Japan is expected to be pivotal for the Company," Radvak continued. "Having received an initial order of 200 systems from us and with over 1,000 direct salespeople, and more than 1,000 additional salespeople through distribution arrangements, Shionogi is poised to aggressively pursue the opportunity.
In the US cardiac market, subsequent to quarter end, the Company announced it had completed its US distribution network, with RAMP cardiac tests commercially available throughout the US through three exclusive regional distributors: LXU Healthcare, Kentec Medical and Cardio Medical Products. These marketing and specialty distribution partners will also distribute the Company's rapid RAMP NT-proBNP Test, developed and manufactured by Response Biomedical under license from Roche Diagnostics and scheduled for a staggered international launch beginning in Europe before the end of 2006. These rapid quantitative tests assist in the diagnosis of a broad array of cardiovascular conditions, including congestive heart failure, heart attack or acute myocardial infarction and risk stratification of patients with acute coronary syndrome or heart failure. Subsequent to quarter-end, the Company announced the initiation of US Clinical trials at four leading sites in the United States for the purpose of demonstrating substantial equivalence of the RAMP NT-proBNP test to a predicate device. The results of this multi-center clinical trial will form the basis for a US FDA 510(k) submission and European CE certification. The four sites conducting the trials are the Mayo Clinic, Minneapolis Medical Research Foundation at Hennepin County Medical Center, Massachusetts General Hospital and San Francisco General Hospital.
Financial Overview:
For the three and six month periods ended June 30, 2006, sales of the clinical cardiac products increased 258% and 278% while sales of environmental West Nile Virus products decreased by 37% and 0% and sales of biodefense products decreased by 76% and 69%, respectively as compared to the corresponding periods in 2005. Total revenues for the three and six month periods ended June 30, 2006 were $1,122,365 and $1,860,550, respectively, an increase of 21% and 8% from the same periods in 2005. Revenues from product sales for the three and six month periods ended June 30, 2006 were $812,070 and $1,484,666 compared to $860,075 and $1,649,598 for the same periods in 2005, a decrease of 6% and 10% respectively. For the three and six month periods ended June 30, 2006, the Company reported a loss of $1,872,023 and $4,063,428 or $0.02 and $0.05 per share, respectively compared to a loss of $1,883,294 and $3,460,303 or $0.03 and $0.05 per share for the same periods in 2005. At June 30, 2006, the Company had a working capital balance of $5,431,374.
About Response Biomedical:
Response Biomedical develops, manufactures and markets rapid on-site diagnostic tests for use with its portable RAMP Platform for clinical and environmental applications. RAMP represents a new paradigm in diagnostics that provides high sensitivity and reliable information in minutes. It is ideally suited to both point-of-care testing and for laboratory use. The RAMP System consists of a portable fluorescent Reader and single-use, disposable Test Cartridges, and has the potential to be adapted to more than 250 medical and non-medical tests currently performed in laboratories. RAMP tests are commercially available for the early detection of congestive heart failure, heart attack, environmental detection of West Nile virus, and biodefense applications including the rapid on-site detection of anthrax, smallpox, ricin and botulinum toxin. Several other product applications are under development. The Company has achieved CE Marking and its Quality Management System is registered to ISO 13485: 2003 and ISO 9001: 2000.
Response Biomedical is a publicly traded company, listed on the TSX Venture Exchange under the trading symbol "RBM" and quoted on the OTC Bulletin Board under the symbol "RPBIF". For further information, please visit the Company's website at www.responsebio.com.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Statements contained in this news release relating to future results, events and expectations are forward-looking statements within the meaning of Section 21E of the United States Securities Exchange Act of 1934. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, those described in the Company's annual report on Form 20-F.
SOURCE: Response Biomedical Corp.
Robert Pilz, Chief Financial Officer, Response Biomedical Corporation, Tel (604) 456-6075, Email: info*responsebio.com; Brian Korb, Vice President, The Trout Group LLC, Tel: (212) 477-9007 ext. 23, Email: bkorb*troutgroup.com
Copyright (C) 2006 CNW Group. All rights reserved.
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China Direct Reports Revenue Increases 58% Sequentially From Q2 2006 Over Q1 2006
By Market Wire Last Update: 8/28/2006 7:30:37 AM Data provided by
COOPER CITY, FL, Aug 28, 2006 (MARKET WIRE via COMTEX) -- China Direct Trading Corp. (CHDT) today announced consolidated results for the second quarter of FY2006 ended June 30, 2006, and the filing of its Form 10-Q for that fiscal quarter with the U.S. Securities and Exchange Commission.
FINANCIAL RESULTS: Reported consolidated gross revenues for the quarter ending June 30, 2006, were $3,969,957, an increase of 1520% from the $261,016 in gross revenues reported for the second quarter of FY2005 and a sequential increase of 58% over first quarter FY2006 gross revenues of $2,511,809. The increase in gross revenues is primarily due to growth in power generator sales by Complete Power Solutions, LLC, a 51%-owned China Direct subsidiary.
Total sales orders reached $6,800,000 Q2 FY2006, of which $3.97 million could be recognized under applicable GAAP as second quarter FY2006 gross revenues.
Profitability continued to accelerate as second quarter FY2006 net income rose to $374,885 over sequential first quarter FY2006 net income of $42,718, versus a loss of $(18,097) for the corresponding second quarter of FY2005.
Cash position increased to $873,211 in Q2 2006 versus $9,090 at the end of the 2005 calendar year.
INVESTOR TELECONFERENCE: China Direct will host an investor teleconference to discuss second quarter FY2006 results and update investors on current corporate and subsidiary initiatives on Monday, August 28, 2006 at 10:00 AM Eastern Time. To participate in the call, the dial-in number is (319) 632-1100, then enter access code 260372 and push the pound (#) key. A replay of the call will be available for two weeks and will be accessible at (641) 985-5006, access code 260372#. A replay of the call will also be available from the www.chdt.us web site one day following the call.
About China Direct: China Direct (www.chdt.us) is a holding company engaged through its operating subsidiaries in the following business lines: Overseas Building Supply (OBS) is engaged in manufacturing, distribution and logistics of building materials including but not limited to generators, roof tiles, interior doors, and insulation materials. CPS (www.completepower247.com) is a majority-owned subsidiary engaged in turnkey solutions for standby commercial and residential power generation. Souvenir Direct Inc. (SDI) is engaged in product development, manufacturing, distribution, logistics and product placement into mass retail of souvenir and gift items in 29 countries. None of the web site URLs listed in this press release are incorporated into or are part of this press release.
Forward-Looking Statements: This press release, including any financial information and projections, contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on China Direct's and its subsidiaries' managements' current expectations and assumptions, and involve risks and uncertainties. Such expectations and assumptions may prove to be faulty or incorrect and actual results may differ significantly, materially from those anticipated results set forth in such statements. No forward-looking statement is or can be guaranteed. Current revenues and revenue growth is not a reliable indicator of future financial results and should not be relied upon by investors as such an indicator. The sale of power generators can be affected by a number of factors that are beyond the control of China Direct or CPS, including seasonal sales cycles, availability of affordable inventory financing, predatory pricing by competitors and weather conditions. China Direct and CPS undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Forward-looking statements in this press release and risks associated with any investment in China Direct, which is a "penny stock" company (and as such is deemed a "highly risky investment") should be evaluated together with the many uncertainties that affect our business, particularly those stated in the cautionary statements and risk factors in current and future China Direct SEC Filings, which statements we hereby incorporate by reference herein. Such risks include, but are not limited to, foreign, national, state and local government regulation, actions or initiatives, Changes in general economic conditions, consumer spending habits, or the sales environment which, in each case, could reduce demand for our products; Risks as a distributor of products produced by other companies; The risk our outstanding litigation could result in settlements or judgments which are material to us; Dilution from any potential issuance of common or convertible preferred stock or convertible debt in connection with financings or acquisition activities; and Risks that we may not realize or anticipate from the expected increased sales and profits and other benefits from CPC.
Cash Now Corporation (CHNW.PK) Announces The Entry Into The Asian and Chinese Sub Prime System Licensing
FORT LAUDERDALE, FL, Aug 28, 2006 /PRNewswire-FirstCall via COMTEX/ -- Cash Now Corporation (CHNW.PK) www.cashnow.com today announced the intended launch of its ecommerce sub prime lending system licensing into the Asian markets with its focus particularly set on the China, Taiwan and Hong Kong marketplace. To do so, the company acquired for cash and stock the following domain names, namely; cashnow.hk.cn, cashnow.mo.cn, cashnow.tw.cn, cashnow.org.cn, cashnow.net.cn, and cashnow.com.cn. Initially these domain names will point to the company's main portal www.cashnow.com until the new sites are developed in the Chinese language. The Asian expansion will be managed by the company's office in Adelaide Australia. "Cash Now has been in Australia since 2003 and the company has dabbled into Asian expansion for some time now, this is a natural evolution and process for Cash Now" said John Falting Cash Now's President and Director of Operations in Adelaide Australia. Cash Now will now seek governmental licensing in South East Asian countries for Cash Now services as well as opening franchises and licensing its technology in this region. The potential revenue for 100 licensees in Asia has a potential to generate 10 to 30 million dollars in revenue annually. The company plans to attend and launch Cash Now in Tokyo Japan in March 2007 through a Franchise Show & Business Expo held there. "This is the largest meeting place for franchisors/new business companies and people who are looking for business opportunities" said Garr Winter Cash Now's Director of Marketing. "Until the approvals are obtained, the company plans to offer its sub prime secured debit cards through its portal www.cashnowcard.com" Mr. Winter added, "we are very excited about this opportunity."
In preparation for the 2008 Beijing Olympics, China UnionPay (CUP), the state-run credit payments company, is building a massive credit card infrastructure. There are currently just 5 million credit cards in the People's Republic and 50 million people who, based upon Western credit scoring analysis, would be eligible for credit cards, Chinese officials say. The Chinese government has recently laid the legal framework for the creation of a National Credit Bureau, which at the beginning will concentrate on collecting negative information on Chinese consumers, but later, like the major U.S. credit reporting agencies Equifax, Experian, and TransUnion will collect positive information too. "The bureau will also have access to information such as tax records, utility payments and criminal records - a level of data that civil liberties issues would prevent in most countries," Lafferty's Mobin says.
ABOUT CASH NOW
Cash Now Corporation (CHNW.PK), a pioneer in the Internet payday loan and check cashing industry, and is developing the most comprehensive menu of services in the cash advance industry, all centered on the Cash Now brand. The company's proven business model includes licensing to corporately operated joint venture locations across the U.S. Canada Australia and UK. Additionally, Cash Now's website is one of the most advanced payday lending portals in existence, offering key insights to clients and potential clients alike - as well as the ability to complete payday loans on-line, via a phone call or in person. Cash Now offers a Payday Loan License program, Payday Express; a Payday Loan and Check Cashing License known as Check Express and an Authorized Agent Program for existing retail establishments; and a host of related financial services for small and medium-size businesses. Cash Now with its web based and focused outlook has won the Golden Web award in 2001, 2002, 2003 and 2005. In 2005 Profit Guide magazine ranked the Cash Now Group 10th in its list of the 50 fastest growing and most promising emerging companies. In 2005 Cash Now was ranked (#)44 out of top 1000 fastest growing franchising companies by Entrepreneur guide.
COSTA MESA, Calif.--(BUSINESS WIRE)--Aug. 28, 2006-- Synthetic Blood International, Inc. (OTCBB:SYBD) today announced the completion of treatment in the Company's Phase IIa open-label, proof-of-concept Oxycyte(TM) study in traumatic brain injury. Oxycyte administration increased oxygen tension over baseline in all eight evaluable trial patients. The Company expects to announce results of preliminary data analysis from this trial in the 4th quarter.
The primary purpose of the Phase IIa study is to demonstrate Oxycyte's ability to increase brain oxygen tension and favorably affect other brain chemistries that impact clinical outcome in patients suffering from severe head injury. The safety of delivering Oxycyte via intravenous infusion is also being assessed.
Patients qualifying for Oxycyte treatment in this study suffered from severe traumatic brain injury and a Glasgow Coma Scale score of 3-9. The first four study patients breathed 50% oxygen for four hours before and 12 hours following Oxycyte administration. The final five treated study patients were stabilized on 100% inspired oxygen on the same schedule. Data on brain oxygen and metabolite levels will be compared to baseline before Oxycyte administration in patients from both groups. Due to a data monitoring malfunction in one treated patient, nine patients were treated during this study to provide the required eight-patient trial data.
"Early data indicating increased oxygen tension in the brain following Oxycyte administration suggests Oxycyte's ability to oxygenate tissues with narrow or occluded capillaries, such as those that occur in brain injury, and suggest Oxycyte's promise as a therapy in human severe traumatic brain injury," said Robert Nicora, Synthetic Blood President and CEO. "We look forward to reporting additional data from this proof-of-concept study that could provide the foundation for further clinical development of Oxycyte for this indication."
About Traumatic Brain Injury
A traumatic brain injury is caused by a blow or jolt to the head or a penetrating head injury that disrupts the normal function of the brain. Among the indications of severe traumatic brain injuries are extended periods of unconsciousness or amnesia after the injury. Approximately 1.4 million Americans each year sustain traumatic brain injury for which there is no direct therapy. Approximately one-third of severe head injury patients show reduced oxygen tension during the first six to 12 hours following traumatic brain injury, and this may be predictive of poor clinical outcome. The Centers for Disease Control and Prevention (CDC) estimates that at least 5.3 million Americans, approximately 2% of the U.S. population, currently have a long-term or lifelong need for help to perform activities of daily living as a result of a traumatic brain injury with direct medical costs and indirect costs, such as lost productivity, totaling an estimated $60 billion in the U.S. in 2000.
About Synthetic Blood International
Synthetic Blood International is dedicated to commercializing innovative pharmaceuticals and medical devices in the field of oxygen therapeutics and continuous substrate monitoring. The Company has under development a blood substitute, a liquid ventilation product and an implantable glucose sensor. These products are based upon core technologies that include biomedical applications for perfluorocarbons, and medical and industrial applications for biosensors. Each of the product candidates is designed with advantages over currently marketed products in major markets including acute respiratory distress syndrome, stroke, myocardial infarction, surgery, trauma, malignant tumors and diabetes. For further information, visit http://www.sybd.com.
Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the Company's behalf. All statements, other than statements of historical facts which address the Company's expectations of sources of capital or which express the Company's expectation for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements. Such statements made by the Company are based on knowledge of the environment in which it operates, but because of the factors previously listed, as well as other factors beyond the control of the Company, actual results may differ materially from the expectations expressed in the forward-looking statements.
KEYWORD: NORTH AMERICA CALIFORNIA UNITED STATES INDUSTRY KEYWORD: HEALTH CLINICAL TRIALS PHARMACEUTICAL PRODUCT/SERVICE SOURCE: Synthetic Blood International, Inc.
CONTACT INFORMATION: Synthetic Blood International, Inc. Joan Mahan, 800-809-6054 or Investor Contact: Lippert/Heilshorn & Associates, Inc. Jody Cain (jcain*lhai.com) Brandi Floberg (bfloberg*lhai.com) 310-691-7100
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RSMI (.159) Finds Rim Semiconductor's DSL Technology Delivers 200 Mbps; Former Bell Labs Validates Higher Delive Business Editors
PORTLAND, Ore.--(BUSINESS WIRE)--Aug. 28, 2006-- Rim Semiconductor's Embarq(TM) chips deliver up to 200 Mbps -- 100 percent faster than traditional VDSL2 technology. That is the conclusion of a research report from Telcordia Technologies, formerly Bell Labs. Telcordia found that semiconductors from Rim Semiconductor Company(TM) (OTCBB:RSMI), an innovator in video-over-copper technology, outperform VDSL2 chips in both speed and quality -- the two key technology issues for telecommunications companies trying to offer very high-speed data services, as well as video services, such as Internet Protocol Television (IPTV).
Overall, the study indicates that Rim Semiconductor offers better performance than competitive solutions to meet the demands of today's advanced broadband deployments. Specifically, Telcordia found that the Embarq product line delivers higher bit rates on both short and long copper loops than VDSL2 and higher data quality with fewer noise issues, improving the overall quality of service for end users. Embarq also coexists better with other technologies, including ADSL and fiber, due to its avoidance of low frequencies and its low power to avoid crosstalk, another issue impacting delivery quality.
"Rim Semiconductor has developed a new and very different very-high-speed DSL that achieves higher bit rates than VDSL2 on both short and long loops," says Dr. Kenneth J. Kerpez, senior scientist, Applied Research, Telcordia Technologies. "Carriers now have a powerful tool to offer a full range of services. The technology from Rim Semiconductor also has unique capabilities for carriers, including efficient modulation technology for higher speed transmission, and an on-the-fly adaptive equalization to limit noise that can cause service disruption on a line carrying IPTV signals."
Using accurate models of transmission systems and the copper telephone loop plant, Telcordia tested Rim Semiconductor's Embarq chips against VDSL2 profile 12a products that are being used by telecommunications carriers for new triple play services deployments. Detailed test observations include:
-- Embarq achieves higher bit rates on short loops and long loops
from 40% to more than 100% versus VDSL2 (12a), so carriers can
offer IPTV services
-- By including a low noise receiver, Embarq allows speeds as
much as twice those of VDSL2 for better throughput for
video-over-copper
-- Embarq enables custom upstream or downstream data delivery, so
very high downstream rates can be offered for residential
video and high upstream speeds for business areas
-- With its unique on the fly adaptive equalization, Embarq can
adapt to time-varying noise instantaneously.
-- Embarq is far more capable of handling time varying Repetitive
Electrical Impulse Noise (REIN) resulting in a 50% performance
improvement vs VDSL2.
-- By avoiding low frequencies, Embarq allows coexistence with
existing DSL type, as well as fewer crosstalk issues for fiber
than from VDSL2 or ADSL2+
"Today's technology for IPTV deployments does not offer the speed and quality required for true high-definition video services," states Brad Ketch, president and chief executive officer of Rim Semiconductor Company. "Rim Semiconductor has been focused on developing innovative new technology to make IPTV a reality for consumers and for carriers. The Telcordia research validates the hard work of our engineering team and proves that there is a better DSL technology for next-generation video-over-copper deployments. We look forward to working with industry partners to bring Embarq to market."
About Rim Semiconductor
Rim Semiconductor Company (OTCBB:RSMI) develops technology for telecommunications companies to deliver demanding new video and data services with lower network costs. The company's chips allow data to be transmitted at greater speed and across extended distances over existing copper wire -- all with the highest quality of service -- for a better end-user experience. For more information, visit http://www.rimsemi.com.
KEYWORD: NORTH AMERICA OREGON UNITED STATES INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS HARDWARE INTERNET TELECOMMUNICATIONS PRODUCT/SERVICE SOURCE: Rim Semiconductor Company
CONTACT INFORMATION: Rim Semiconductor Company Brad Ketch, 503-257-6700
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WWEN (.15) W2 Energy Inc. to Acquire $10M in Project Finance >NEW YORK, Aug. 28, 2006 (PRIMEZONE) -- W2 Energy Inc. (Pink Sheets:WWEN), a developer of green energy, is pleased to announce it has passed the application process and is in underwriting with a mid-size south western banking firm to provide debt financing for a 1000 bbd (barrels per day) diesel fuel project. This project once completed will provide the company with a cash flow of approximately $20M per year.
The company is continuing to execute on its business plan to scale our plants to a size of 10,000 bbd. Our 100 bbd plant which has been primarily funded by the company will be utilized as a research facility and will be located near Drexel Plasma Institute in Philadelphia. The intent of this plant will be for research and development of new fuels that are more environmentally friendly as well as easily integrated into today's fuel distribution infrastructure.
The 1000 bbd plant will be the first plant W2 Energy will operate for profit and begin to fill our outstanding requests for production which currently run over US$2.0 billion. The plant will be a scale model of our 10,000 bbd design and will act as a working example for scale up to the larger systems. Once the finance is complete the project completion time will be approximately 1.5 years from ground breaking to completion.
The company continues to push forward on other projects including designs for 10,000 bbd plants and also plants designed specifically for electrical energy production. The corporation intends on financing these projects through both debt and joint venture partnerships.
About W2 Energy Inc.
W2 Energy Inc. is a growing, publicly traded company on the OTC (Symbol WWEN) that develops renewable energy technologies and applies it to new generation electrical power systems. Specifically, W2 Energy Inc. produces green power utilizing its core-patented technologies to produce green power generating and clean transportation fuel plants utilizing bio-mass and GTL technologies. W2 Energy Inc. has seasoned management and cutting edge technology. W2 Energy Inc. owns a large technology portfolio of patents and know-how that has been extensively validated and ready for commercial production.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, statements are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted projections. These risks and uncertainties include, among other things, energy market volatility, product demand, market competition, and risk inherent to the company's research and development operations.
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IGII (.19 ) Mississippi is Second State Joining IBSG's Gulf Coast Revitalization Project; Mississippi Small Business Development Ce Business Editors
CELEBRATION, Fla.--(BUSINESS WIRE)--Aug. 28, 2006-- IBSG International, Inc., (the "Company"), (OTCBB:IGII) is proud to announce today that its subsidiary IBS Group, Inc., (IBSG) reports that the State of Mississippi is joining the Gulf Coast Revitalization Project initiated by IBSG in consideration of those states heavily impacted by last year's hurricanes, and with the approval of the US Small Business Administration's Disaster Recovery team. IBS Group will continue to waive first year license fees, valued at $100,000 for Mississippi, as they did with Alabama, as their contribution to the Gulf Coast recovery effort.
Mississippi joins the State of Alabama which together expect to provide BizWorldPro services to a conservative percentage of the estimated more than 200,000 small-to-midsize enterprises in those states according to Mississippi and Alabama state statistics. Although no assurances can be given, management anticipates that the State of Mississippi SBDC organization alone is expected to generate $5.9 million in revenues to be shared between the Mississippi SBDC and IBSG over the life of the five-year agreement, with approximately $600,000 realized in revenues during the first 12 months of operation.
Hurricane Katrina has caused widespread devastation to the Gulf Coast states, displacing tens of thousands of small- and mid-sized businesses and over 100,000 employees. Those state's Small Business Development Centers participating under the Project will utilize IBS Group's digital enterprise service center platform as the key tool to revitalize their small and mid-sized business communities.
"Even before last year's hurricane damage, we were on a strategy to develop Mississippi's small business community into a stronger economic position within the country," said Doug Gurley, State Director of Mississippi's SBDC network, "and although Katrina has caused us tremendous delays in implementing our strategy, we believe that a BizWorldPro network will help us make up for those delays and in fact let us achieve our goals even sooner than previously expected."
"We are expecting that businesses damaged or displaced by Katrina will be incented to return to full operation through the use of the powerful services provided by BizWorldPro," said William Campbell Jr., State Director of Alabama's SBDC network, "and in fact we hope that it will also encourage other businesses to come to our state to share in the revitalized economic development opportunities." Mr. Campbell added, "We well appreciate IBSG's contribution in helping us rebuild our small business community. It gives us further assurance that we will rise above the damage and create a solid ground for the thousands of small businesses looking to thrive in our state."
Alan M. Shafer, Chief Operating Officer of IBSG, stated that, "The addition of the State of Mississippi SBDC network to our Gulf Coast Revitalization Project is very encouraging to us not only for the good we know can be accomplished to strengthen Mississippi's business economy, but it also is a vote of confidence for the BizWorldPro system itself. We will be working very closely with Doug Gurley and his team to get their small business network operational as soon as possible so they can expand their good work in positively impacting Mississippi's business community and the jobs so necessary to their recovery."
Dr. Michael Rivers, CEO of IBSG International, said, "Mississippi is the latest political entity to see the value of our technology in aiding the development of its small-to-midsize enterprises. The scalability and flexibility of BizWorldPro is demonstrated by its adoption in various parts of the world as well as by our financial results. Our sales revenues in the latest quarter reported were up 223% over the same quarter the year before, operating profit rose six fold to $1.6 million, and the quarter ended June 30, 2006 was our eighth consecutive profitable quarter. Although no assurances can be given, our trajectory suggests that the second half of the year will exceed the first half results."
About IBSG International, Inc.
IBSG International, Inc. is a holding company for four technology and software subsidiaries: Intelligent Business Systems Group, Inc. (IBSG), a provider of turn-key digital service center software; Secure Blue, Inc., a Sarbanes-Oxley and security software solution provider; Intelligent Business Systems Development (IBSD), a software development, maintenance and data storage company and; A-Division IT, a consultant company focused on development of IT projects for multinational corporations.
IBSG offers enterprise solutions designed to enhance the operating efficiency and create revenue for State Small Business Development Centers, business associations (e.g., Chambers of Commerce) and Fortune 1000 corporations by licensing its unique turnkey digital service center software, which provides a broad range of digital budgetary, administrative and commercial services (B2B, e-commerce, government to business and enterprise business services) on a single platform known as the BizWorldPro(C).
Secure Blue, Inc. provides a robust economical Sarbanes-Oxley (SOX) compliance and security software suite, Secure Blue SOX Pro. It is targeted at small- and mid-cap public companies as well as private companies requiring SOX compliance to enable them to continue working with public companies.
As software providers, system integrators and Application Service Providers, IBSG, Inc. and Secure Blue, Inc. generate revenue from license sales, system modifications, systems support and a percentage of monthly customer fees. The typical IBSG/Secure Blue license agreement has a five-year term which is updated on an annual basis and almost invariably renewed upon expiration; to date the company has had only one licensee not renew, due to the expiration of the licensee's contract with another party.
IBSD, Inc. will provide ongoing support of International's other subsidiaries, IBS Group and Secure Blue. The company provides development, system support and secure data storage, and will maintain offices in the US and India, where its current offshore development and support team is located.
A-Division IT establishes it projects for multi-national corporations around the world. The projects are recognized off set program qualified and provide a required contractual obligation of theses corporations.
A-Division IT is an off set provider to BAE Systems and maintains relationships with various other multinational corporations. A-Division maintains office in the United Kingdom.
Safe Harbor Forward-Looking Statements
Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. The above information does not guarantee any successful closing of new business. No assurances can be given that any projections related to gross revenues or profit margins will be realized. Forward-looking statements involve known and unknown risks and uncertainties that may cause the companies' actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.
KEYWORD: NORTH AMERICA FLORIDA LOUISIANA MISSISSIPPI UNITED STATES INDUSTRY KEYWORD: TECHNOLOGY GOVERNMENT SOFTWARE STATE/LOCAL PROFESSIONAL SERVICES BANKING SOURCE: IBSG International, Inc.
CONTACT INFORMATION: Porter, LeVay and Rose, Inc., New York Michael Porter, 212-564-4700 or IBSG International, 321-939-6321
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UDTT (.0128) to Commercialize Newly Licensed Technology from Caltech Into a Microbial Monitor for Hospitals >LOS ANGELES, Aug. 28, 2006 (PRIMEZONE) -- Universal Detection Technology (http://www.udetection.com) (OTCBB:UDTT) (FWB:P08), a developer of early-warning monitoring technologies to protect people from bio-terrorism and other infectious health threats, announced today that it plans to commercialize newly licensed technology from the California Institute of Technology (Caltech) into a Microbial Monitor for Hospitals.
In 2004 UDTT unveiled BSM-2000, a bacterial spore monitor used for detection of airborne bio-terror agents such as anthrax. BSM-2000 was co-developed by JPL based on a technology that UDTT had licensed in 2002. UDTT plans to successfully develop a commercial microbial monitor based on the newly licensed technology. "We plan to utilize our experience in successful technology commercialization acquired through development of BSM-2000, to develop and offer the microbial monitor to the health care industry based on the technology we recently licensed," said Jacques Tizabi, UDTT's Chairman and CEO.
The technology being commercialized has a Provisional patent filed with the U.S. Patent Office under the title: "Airborne Bacterial Spores as an Indicator of Biomass in an Indoor Environment." The technology is being developed by the Jet Propulsion Laboratory to serve as an indicator for spacecraft cleanliness. It uses a method of measuring bacterial endospore concentrations in an indoor environment; and correlating the measured bacterial endospore concentration to biomass in the said environment, thereby providing an indicator for said biomass. Testing by JPL at the Environmental Control and Life Support System at Marshall, Space Flight Center, has indicated that increased total counts of airborne endospores can be correlated to surface microbial contamination.
"The development of the Microbial Monitor comes on the heels of our successful commercialization of the BSM-2000 Anthrax Detector through technology licensed from Caltech," said Amir Ettehadieh, UDTT's Director of R&D. "We came to realize that an indicator for spacecraft cleanliness would also work to measure cleanliness in a hospital environment where elevated Microbial levels are a concern. With the recent increase in levels of hospital borne infections, the device would notify hospital officials of increased microbial levels so they can take necessary precautions to protect the patients," he added.
According to the Center for Disease Control, Hospital Acquired infections in the U.S. led to about 90,000 deaths annually -- more than the toll from breast cancer and car crashes -- and add about 5 billion dollars a year to the cost of patient care.
About Universal Detection Technology
Universal Detection Technology (UDTT), is a developer of monitoring technologies, including bio-terrorism detection devices. The Company on its own and with development partners is positioned it to capitalize on opportunities related to Homeland Security. For example, the Company, in cooperation with NASA has developed a bio-terror 'smoke' detector that detects certain bio hazard substances. For more information, please visit http://www.udetection.com.
Forward-Looking Statements
Except for historical information contained herein, the statements in this news release are forward-looking statements that involve known and unknown risks and uncertainties, which may cause the Company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
CONTACT: Universal Detection Technology
Jacques Tizabi
(310) 248-3655
jtizabi*udetection.com
CEOcast, Inc. for Universal Detection Technology
Andrew Hellman
(212) 732-4300
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Matrixx Resource Holdings, Inc.: Buck Snag Field Prospect in Production Market Wire - August 28, 2006 8:02 AM (EDT)
LOS ANGELES, CALIFORNIA, Aug 28, 2006 (MARKET WIRE via COMTEX) -- Matrixx Resource Holdings, Inc. (OTCBB: MXXR), announced today that the No. 1 Schiurring Well on the Buck Snag Field Prospect has been completed and has opened for sales.
On August 23, 2006 the No. 1 Schiurring Well in Colorado County, Texas, was completed in the 2,030 foot sand and placed into production. Initial flow rate commenced at 120 MCF of gas per day, and after the water cleanup, well production is expected to increase to 300 MCF of gas per day.
Gas production and sales began after only two weeks of the commencement of drilling and within one week of reaching the total depth of the well. Total estimated recoverable reserves are expected to be approximately 1 BCF of gas.
"We are pleased to have put the first Buck Snag well into production quickly and with excellent results," said CFO Catherine Thompson. "Additionally, to further advance the Company's progress, we met with our partner and the operator last week to review other existing opportunities encompassing this prospect. We have decided to drill three offset wells with plans to complete them before the end of this year," she further states.
The Company's participation in the Buck Snag Field is part of a larger drilling program in Colorado and in Brazoria Counties, Texas, with the well operator, Sunray Operating Company.
While global political turmoil continues to keep oil prices near $70 per barrel and some recent analysts' reports predict that oil could reach as high as $100 a barrel in the near future, the Company is moving forward in its efforts to acquiring additional growth and investment opportunities in this natural resource sector with the intent of providing the Company and its shareholders a much-improved increase in shareholder value. The Company is focused on increasing value by means on continuing acquisitions, development projects and exploration drilling through joint venture networks.
Safe Harbor Statement: This press release contains forward-looking statements as defined in The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, 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 may differ materially from those expressed in any forward-looking statement. Such risks and uncertainties include, but are not limited to, the ability of Matrixx to complete the proposed acquisition(s), the results of Matrixx's due diligence review of the candidate(s), the success of the business of the acquisition candidate(s), including the ability of Matrixx to continue to sell the applicable products and the acceptance of those newly designed products by the market, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings.
Contacts: Matrixx Resource Holdings, Inc. Konstantine Tsakumis Media & Investor Relations (310) 456-3199 (310) 456-1778 (FAX) ir*mrhi.net www.mrhi.net
Las Vegas From Home.com Entertainment Inc.: Action Poker Gaming Inc. Licenses its Online Poker Software to Legendz Gaming Corporation Leading Gaming Operator Signs with Action Poker Gaming Inc. Las Vegas From Home.com Entertainment Inc. (the "Company") or ("LVFH") (TSX VENTURE: LVH)(OTCBB: LVFHF)(BERLIN: LVH)(FWB: LVH) is pleased to announce that its wholly owned subsidiary, Action Poker Gaming Inc., ("APG"), has licensed its poker software to Legendz Gaming Corporation, ("Legendz"), a recognized leading gaming operator.
The Professional Internet Gaming Company (ThePig.com), which is owned and operated by Legendz, will launch their own private "stand alone" poker network developed by APG. The "stand alone" software model allows for larger gaming operators to manage and maintain complete control of their own dedicated poker network.
By licensing APG's software, Legendz will be able to capitalize on the benefits of owning its own poker network.
"By licensing our software to a market leader such as Legendz, it further confirms that the Company's software is preferred as a leading online multi-player poker solution," states Jake Kalpakian, President and CEO of LVFH. "Furthermore, we expect to announce similar deals with other leading brands that are currently under development."
Through the agreement, APG will provide Legendz a complete solution of classic poker software games that include Texas Hold'em, Omaha and 7 Card Stud, as well as tournament functionality. The projected launch of the Legendz poker network is scheduled for early September 2006.
About Las Vegas From Home.Com Entertainment Inc.
LVFH is an "E-Gaming" Software Developer and provider, and through its wholly owned Antiguan Subsidiary, Action Poker Gaming Inc., licenses its software to third parties.
On behalf of the Board of Las Vegas From Home.com Entertainment Inc.
Jacob H. Kalpakian, President
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement in this release containing words such as "believes", "plans", "expects" or "intends" and other statements that are not historical facts are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements. The Company disclaims any obligation or intention to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Source: Market Wire (August 28, 2006 - 7:30 AM EST)
Golden Patriot, Corp. Announces Drill Contractor Secured For Past Producing Uranium Project LAKE SUCCESS, N.Y., Aug. 28, 2006 (PRIMEZONE) -- Golden Patriot, Corp. ("Golden Patriot") (OTCBB:GPTC) (Frankfurt Stock Exchange:GPU) is extremely pleased to announce that it has been informed by the operator that the drill contractor for the planned 25-hole drill program has been secured and advanced monies have been forwarded. The site preparation has begun for the start of the drill program which is expected to commence early September.
The drill program was recently increased to 25 holes due to an additional positive evaluation of the MMI samples. Golden Patriot has recently received Government and State approval of the 'Plan of Operations' for a multi-hole drill program on the past producing Lucky Boy Uranium Mine in Gila County, Arizona. The Plan of Operations includes: road construction, drill pad construction as well as a multi-hole drill program for approximately 6000+ foot. Golden Patriot has recently increased its land position on this past producing uranium mine to now include 26 BLM claims.
Golden Patriot has also received confirmation that a NYSE-listed gold company will initiate a sampling program on one of Golden Patriot's gold prospects. At this time the geologic work will be conducted by the major, which may lead to a full scale drill program in the future. However, there is no guarantee that either an option or joint venture agreement will be entered into.
Mr. Brad Rudman, President of Golden Patriot states, "This is great news for Golden Patriot. It is tremendously exciting that we are about to start a major drill program for the first time on our past producing uranium mine. When you take into account that uranium prices at near 30 year highs and that it is a past producing mine, management is very optimistic about the near and long-term future of the company. When you also factor in the potential of a NYSE-listed gold major exploring one of our gold prospects, it is evident that this is a very exciting time for Golden Patriot's management and shareholders. Golden Patriot's shares are currently trading more than 60% below the recent highs set, despite now having a major looking at one of our gold properties and that we are about to start a major drill program on our past producing uranium mine. Based on these factors, management feels that the shares may be not be reflecting the company's current value in relation to our historic stock price."
Golden Patriot has interests in mineral properties involving uranium and gold mining. As it stands, Golden Patriot is one of the smallest market capitalized companies that has interests in any present or past producing uranium mines.
To receive timely updates and information on any future developments as they occur please email us at info*goldenpatriotcorp.com.
Disclaimer: This announcement may contain forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and assay reports; the ability to close the acquisition of mineral exploration properties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in Golden Patriot, Corp. filings with the Securities and Exchange Commission, and may be accessed through the SEC's web site at http://www.sec.gov.
Last Chance to Qualify for Raven Moon's 10-for-1 Discounted Warrant Dividend; Shareholders of Record as of September 1, 2006, Will Qualify for a 50% Discount of the Closing Ask Price Raven Moon Entertainment, Inc. (OTCBB:RVEM) announced today that it is the last chance to qualify for the new 10-for-1 warrant dividend exercisable at a 50% discount of the common stock ask price. Shares exercised will be exempt from any reverse splits for 12 months from the date the restricted shares are issued.
The terms of the warrant dividend are: shareholders of record as of September 1, 2006, shall receive one warrant for each share of common stock owned as of that date. The warrant allows the shareholder to exercise 10 shares of common restricted stock for each warrant they own and exercise during a one-month window beginning September 15, 2006, and ending October 15, 2006, at a 50% discount of the closing ask price on the day their check is dated. Once warrants are exercised and accepted by the company all transactions are final and irrevocable. Common shares purchased as a result of exercising these warrants will be restricted from sale for one year.
INSTRUCTIONS:
Between September 15, 2006, and October 15, 2006, if your account is with a broker and you have not received a physical warrant, send a copy of your statement to Raven Moon Entertainment no later than October 15, 2006, verifying the number of shares you owned in your account as of September 1, 2006. Indicate the number of warrants you would like to exercise at a 50% discount of the closing ask price on the day you write your check and make the check payable to Raven Moon Entertainment, Inc. and mail it to: Raven Moon Entertainment, Inc., 2005 Tree Fork Lane, Suite 101, Longwood, FL 32750. Be sure to provide instructions on where to send the restricted common shares.
If you have received a physical warrant from the company, fill it out and indicate the number of warrants you wish to exercise at a 50% discount of the closing ask price on the day you write your check and make it payable Raven Moon Entertainment, Inc. Upon receipt the company will authorize the transfer agent to issue the shares to you.
Shareholders who need information on how to exercise their warrants may 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.
Fahlgren Mortine Investor Relations: Carol Merry, 614-825-1750 carol.merry*fahlgren.com
Source: Business Wire (August 28, 2006 - 7:38 AM EST)
XsunX Looks to Tap Into U.S. Government's Solar America Initiative 8/28/2006
President's Advanced Energy Initiative Proposes $148 Million Solar America Initiative
ALISO VIEJO, Calif., Aug 28, 2006 (PRIMEZONE via COMTEX News Network) -- XsunX, Inc. (OTCBB:XSNX), provider of technologies for solar energy infrastructure and developer of Power Glass(tm), an innovative thin-film solar technology that is intended to allow glass windows to produce electricity from the power of the sun, today announced that letters of intent submitted in July for project funding opportunities under the President's Advanced Energy Initiative have been cleared for formal grant submittal under the Technology Pathway Partnerships Phase 1 program to promote the commercialization of emerging technologies in thin film photovoltaics, manufacture, and systems integration.
As part of an increasing objective of the U.S. government to wean the country's dependence on foreign energy sources, the President's Advanced Energy Initiative and its 2007 Budget propose a new $148 million Solar America Initiative (SAI) -- an increase of $65 million over the FY06 budget. The purpose of the Solar America Initiative is to accelerate the development of advanced solar electric technologies, with the goal of making them cost-competitive with other forms of renewable electricity by 2015.
"What's exciting about this opportunity for XsunX is that the government's program can fund half a project's cost up to $20 million dollars and is looking to create vertically integrated groups of technology partners to come together and provide innovative new ways to apply the solar energy opportunity to our environments," stated Joseph Grimes, XsunX's COO. "This has been the focus of our business in the development of building integrated photovoltaics or 'BIPV' applications with partners from other industries such as the glass and glazing industries. Our Company has already made significant strides in developing manufacturing methods and proprietary thin film solar cell designs for converting the large areas of modern high rise glass facades into energy saving, power producing structures. We hope that these efforts may now assist our government in its effort to establish renewable energy sources for the future," concluded Grimes.
The Solar America Initiative, managed by the U.S. Department of Energy Solar Energy Technology Program (SETP), has established goals to develop partnerships and strategic alliances with industry participants, universities, Federal and state government, and other non-governmental agencies. The two primary areas of focus of the SAI are to develop Technology Pathway Partnerships for research and development on PV component and system designs, including low-cost approaches for manufacturing; and Technology Acceptance activities that address marketplace barriers and offer the opportunity for market expansion.
About XsunX
Based in Aliso Viejo, Calif., XsunX is developing and commercializing innovative new thin film photovoltaic (TFPV) solar cell technologies and manufacturing processes to service expanding global energy demands. The Company has focused its efforts on lowering the cost per watt of solar power and making solar cell technology easier to use in a wide variety of applications. XsunX calls this dual improvement to cost and efficiency the XFactor(tm). The XFactor delivers licensee's solar cell designs that break the bounds of crystalline silicon dependency, rigid and limited-use form factors, and rapid efficiency loss. Equally important, the XFactor provides new manufacturing techniques that can significantly lower production costs and allow for easier additions to production capacities and technology upgrades without having to re-build and re-tool. Together, XsunX design and production innovations offer manufacturers of solar products exciting new application opportunities and reductions to the cost per watt of solar power. More information can be found at the Company's website: http://www.XsunX.com.
Safe Harbor Statement: Matters discussed
-------------------- "Great Day for Up!"....Dr. Seuss
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USPR (.335) Reports 46 Feet of 0.244 oz/t Au and 59 Feet of 0.193 oz/t Au from Historical Drilling at the La S Business Editors
LITHIA, Fla.--(BUSINESS WIRE)--Aug. 28, 2006-- U.S. Precious Metals Inc. (USPR-OTCBB) is pleased to report high-grade gold intercepts over substantial thicknesses from drilling by MIM Holdings (now part of Xstrata) in 1997-1998 on USPR's wholly-owned, 16,690-hectare La Sabila gold-copper project in Michoacan, Mexico.
The 21 reverse circulation holes tested a structural corridor extending at least three kilometers north-south which contains multiple NE-trending, vertical to steeply SE-dipping zones of gold mineralization. The drilling, combined with mapping and channel sampling of drill road cuts, identified three major zones of gold mineralization: the Main Zone, estimated by MIM to contain 3 million tonnes of mineralized material grading 3.0 g/t (0.096 oz/t) gold, 20 g/t (0.64 oz/t) silver, and 0.5% copper to a depth of 150 meters; the North Zone, which occurs 300 meters north of and sub-parallel to the Main Zone; and the Cuendao Zone, which lies 2 kilometers to the south of the Main Zone.
Results of the drilling are summarized in the accompanying table.
Holes were drilled on a NW azimuth at inclinations of 55 to 75 degrees (most holes defining mineralization in the Main Zone were drilled at an inclination of 55 degrees to horizontal) in order to intercept the quartz-sulfide veins which strike N40-70E and dip 65 degrees SE to vertical. Thus, true thicknesses of the mineralized zones are approximately 70% to 80% of the apparent thicknesses reported in the table. Samples were collected at 2-meter intervals and submitted to ALS Chemex Labs for gold, silver, and copper assay, as well as for geochemical analysis of a suite of trace elements.
Peter Toscano, Chairman of USPR, stated, "The drilling by MIM demonstrates that significant, high-grade gold mineralization occurs at La Sabila, and only a small portion of the structural corridor has been tested to date." The Company plans to define and drill additional gold targets during the upcoming field season, as well as to expand the existing zones of mineralization which are open along strike and to depth.
About U.S. Precious Metals, Inc:
U.S. Precious Metals, Inc. (USPR-OTCBB) is a gold exploration company operating in Mexico through its wholly-owned subsidiary, U.S. Precious Metals de Mexico. On March 13, 2003, the Company acquired Solidaridad I (175 hectares). On March 27, 2003, USPR acquired the Solidaridad II (2,164 hectares) exploration concession from the Mexican government. On July 22, 2003, the Company acquired the exploration concessions for Solidaridad III, (294 hectares) and Solidaridad IV (149 hectares). On May 25, 2004, the company received the exploration concession from the Mexican government for Solidaridad V (La Ceiba, 921 hectares). In February 2006, USPR claimed a gold mine concession lot named "La Sabila" (12,987 hectares) that surrounds the other concessions, bringing the total area under USPR's control to 16,690 hectares (one hectare equals 2.47 acres).
Safe Harbor Act Disclaimer: This press release contains 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 (the "Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe", "expect", "intend", "anticipate", "estimate", "project", or similar expressions. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. The Company's actual results, performance, and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements.
KEYWORD: NORTH AMERICA CENTRAL AMERICA FLORIDA UNITED STATES MEXICO INDUSTRY KEYWORD: NATURAL RESOURCES MINING/MINERALS SOURCE: U.S. Precious Metals Inc.
CONTACT INFORMATION: U.S. Precious Metals, Inc. Jackie Larsen, Investor Relations 813-425-2144 http://www.uspmgold.com info*uspmgold.com
-------------------- The difference between genius and stupidity is that genius has its limits
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Viper Networks Victorious in Rescission of Greenland Suit Business Wire - August 28, 2006 8:45 AM (EDT)
SAN DIEGO, Aug 28, 2006 (BUSINESS WIRE) -- Viper Networks, Inc. (OTC:VPER), a leading innovator in voice-over-Internet protocol (VoIP) products and services, today announced they have received the final judgment clearly stating that Viper Networks has been successful in proving all points and issues in their binding arbitration against Greenland Corporation.
Viper Networks, Inc. Chief Executive Officer Mr. Farid Shouekani commented, "I am deeply gratified that we have been successful in protecting Viper Networks and its shareholders in the binding arbitration and the final award is clear that all stock and funds are to be returned to Viper Networks at once."
Mr. Shouekani concluded, "It is unfortunate that these types of experiences occur, however our belief in the facts and the encouragement of our shareholders has been proven in a court of law and we can now look to the future without this in the background."
If you would like to be added to Viper Networks' Investor list, please send to ir*vipernetworks.com.
About Viper Networks, Inc.
Viper Networks, Inc. provides VoIP products and services through distributors and resellers around the world. Its network of VoIP gateways serves more than 350 countries and regions, and it is unique in offering both network services and equipment to its customers. Unlike most competing VoIP providers, Viper Networks offers its service on a pre-pay basis. It charges only for minutes used and does not require any monthly fees. Its Internet-based users can get dial-up or broadband service with equal quality. Viper has been pioneering VoIP service and technology for more than five years. For more information, please visit www.vipernetworks.com.
Safe Harbor Statement: Except for the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted and reported results should not be considered an indication of future performance. In addition to the factors discussed in the filings with the Securities and Exchange Commission, among the other factors that could cause actual results to differ materially are the following: adverse changes in the business conditions and the general economy; competitive factors, such as rival companies' pricing and marketing efforts; availability of third-party material products at reasonable prices; the financial condition of the customer; risks of obsolescence due to shifts in market demand; and litigation involving product liabilities and consumer issues. Viper Networks, Inc. cautions readers not to place undue reliance upon any such forward looking statements, which speak only as of the date made. Viper Networks, Inc. expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the company's expectations or any change in events, conditions or circumstances on which any such statement is based.
SOURCE: Viper Networks, Inc.
Viper Networks, Inc. Ron Weaver, 959-533-7958 ir*vipernetworks.com
Copyright Business Wire 2006
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Security Intelligence Technologies, Inc. and New Distributor Conduct Seminar and Workshops for High Ranking Government Officials NEW YORK, Aug. 28, 2006 (PRIMEZONE) -- Security Intelligence Technologies, Inc. (OTCBB:SITG) today announced that its subsidiary, Homeland Security Strategies, Inc.(HSS) recently sent a technical team to visit its new distributor in Beijing to support them in a seminar they sponsored for high ranking government officials to present HSS's latest counterterrorism equipment. HSS's technical team conducted workshops covering security systems for public events, airport security, bomb detection and systems designed to defeat terrorists' use of radio controlled improvised explosive devices (RCIED).
"The use of RCIEDs has become the terrorists' number 1 choice of weapons and countries outside of the Middle east are beginning to equip themselves with systems similar to those marketed by HSS to defeat these threats," stated Chris Decker, Senior VP of SITG.
"It is estimated China's security budget for the 2008 Beijing Olympics will exceed the $1.3 billion that Greece spent in providing security for the 2004 Athens Olympics. We believe there will be significant amounts spent on the types of products we design and manufacture and are excited about the opportunity we have with our new distributor to pursue this business," 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 U.S., 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.
Analyst/Investor kits and showroom tours available upon request. For more information see SITG's websites at: www.secintel.com and www.bombjammer.com.
CONTACT: Security Intelligence Technologies, Inc. Richard Coe Chris Decker (914) 654-8700
Unico, Inc. Announces New Photo Gallery Showing Recent Reconstruction on Deer Trail Mill and Processing Facility Unico, Incorporated (OTCBB: UCOI), a natural resource company in the precious metals mining sector, today announced the addition of a new photo gallery on its corporate website showing recent progress of the reconstruction of the mill and processing facility at the Deer Trail Mine in Marysvale, Utah.
The reconstruction photo gallery has been added to the "Media" section of the Unico website at www.unicomining.com and is housed in the "Multimedia" section. Among the pictures in this gallery are several showing the placement of new ore hopper bins and fine ore bins on their concrete foundations, and the positioning of conveyers that feed material from the feed bin to the fine ore bin.
The ore hopper bins shown in the new photographs will feed conveyor belts that lead to the ball mill. A 100-ton crane was used to hoist the hoppers and the tank into place on their concrete foundations, and additional photographs show this work as it was undertaken. The gallery also shows the crane positioning of the leg supports and conveyers that lead to the fine ore bin.
"We are pleased to add these new photographs to the Unico website and provide for our shareholders greater detail on how the reconstruction is progressing," said Mark A. Lopez, chief executive officer of the company. "The operation of the mill and processing facility is an important element of Unico's strategy to bring additional value to our shareholders through the development of its subsidiary mining properties, so we will continue to provide updates and add photographs and video to our website whenever possible."
Shareholders who would like to sign up to receive information by email directly from Unico, Inc., particularly when new press releases, SEC filings or other information is disclosed, are asked to visit the company's website at www.uncn.com/IR/mailinglist.asp.
About Unico, Inc.
Unico, Inc. (OTCBB: UCOI) is a publicly traded natural resource company in the precious metals mining sector that is focused on the exploration, development and production of gold, silver, lead, zinc, and copper concentrates at its three mine properties: the Deer Trail Mine, the Bromide Basin Mine and the Silver Bell Mine. For more information, please visit www.unicomining.com.
Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and such Section 21E of the Securities Exchange 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. The company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operation results to vary significantly from those in prior periods, and those projected in forward-looking statements. Information with respect to these factors, which could materially affect the company and its operations, are included on certain forms the company files with the Securities and Exchange Commission.
Source: Market Wire (August 28, 2006 - 8:00 AM EST)
eGames Announces Fiscal Year 2006 Financial Results LANGHORNE, Pa., Aug. 28, 2006 (PRIMEZONE) -- eGames, Inc. (OTCBB:EGAM), a publisher of consumer entertainment PC software games, today announced financial results for its fiscal fourth quarter and year ended June 30, 2006.
Fiscal Quarter ended June 30, 2006:
Net sales increased by $249,000, or 31%, to $1,043,000 for the fiscal quarter ended June 30, 2006, compared to $794,000 for the same fiscal quarter a year earlier. Net loss was $504,000, or $0.04 per diluted share, for the fiscal quarter ended June 30, 2006, compared to a net loss of $312,000, or $0.03 per diluted share, for the same fiscal quarter a year ago.
Fiscal Year ended June 30, 2006:
Net sales decreased by $588,000, or 11%, to $4,756,000 for the fiscal year ended June 30, 2006, compared to $5,344,000 for fiscal year 2005. Net loss was $1,039,000, or $0.09 per diluted share, for the fiscal year ended June 30, 2006, compared to a net loss of $155,000, or $0.01 per diluted share, for the prior fiscal year.
Fiscal Year 2006 - Summary:
The $588,000 decrease in net sales for the fiscal year ended June 30, 2006 resulted primarily from a $1.2 million decrease in net sales of the eGames(R) brand of value-priced PC software games due largely to a reduction in retail shelf space allocated to $9.99 retail priced PC games in North America. This net sales decrease was partially offset by a $0.5 million increase in net sales that resulted from the launch of the Company's new Cinemaware Marquee(TM) brand of higher-priced box titles in the second half of this fiscal year. Additionally, the Company experienced minor increases in North American licensing revenues and in net sales of end-of-lifecycle titles to inventory liquidators.
For the fiscal year ended June 30, 2006, the Company recognized a net loss of $1,039,000 compared to the fiscal year ended June 30, 2005 in which the Company reported a net loss of $155,000. This $884,000 increase in the net loss for the fiscal year ended June 30, 2006 compared to the year ago period resulted primarily from a $763,000 decline in gross profit, combined with a $146,000 increase in operating expenses.
The $763,000 decline in gross profit resulted from a $588,000 decrease in net sales, combined with a 9.4% reduction in gross profit margin caused by an increase in product costs, as a percentage of net sales. The factors contributing to the increase in product costs, as a percentage of net sales, were increased sales of:
-- Titles sold to software distributors and retailers at reduced selling prices below historical levels; -- Higher costing titles containing multiple CDs, posters, manuals and other value added items; and -- End-of-lifecycle titles to inventory liquidators at prices substantially lower than titles active in traditional retail channels.
The increase in operating expenses was largely traceable to increases in advertising and product development costs incurred to support our new Cinemaware Marquee box titles, as well as severance costs associated with the Company's recent reduction in force that was affected to achieve future operating expense savings and to better utilize the Company's resources.
The following tables represent the Company's net sales by distribution channel for the fiscal quarters and years ended June 30, 2006 and 2005, respectively:
Net Sales by Distribution Channel --------------------------------- (rounded to the nearest thousand) ---------------------------------
Jerry Klein, President and CEO of eGames, commented: "Fiscal 2006 proved to be a challenging year for us. In particular, our net sales continued to be negatively impacted by the decline in retail shelf space retailers are allocating to value-priced PC games at the $9.99 retail price point in North America. In our attempt to overcome the unfavorable reality of a declining retail market for value-priced PC games, we began changing our business model in order to better address changes in consumer buying behavior for our category of products and to increase the size and scope of the market we serve. In an effort to address both issues, we purchased the assets of Cinemaware, Inc. in October 2005, and Lars Furhken-Batista joined the Company as our new Vice President of development. With the Cinemaware acquisition, we acquired a number of classic game properties that we believe will be the basis for developing unique and compelling casual games for the PC, other game platforms, and the Internet.
"During the second half of fiscal 2006, we released six premium quality PC games licensed under our `Cinemaware Marquee' and `eGames' brands. Consumer feedback on these titles has been positive, and we will continue to seek high-quality titles to license and publish under our Cinemaware Marquee brand, while at the same time continuing to publish addictive value-priced PC games offered mostly at the $9.99 retail price point under the eGames brand. During the fourth fiscal quarter, we began implementing our strategy of developing our own PC game titles from the ground up, utilizing some of the original Cinemaware intellectual properties, as well as some new and unique game ideas. The first of these internally developed titles, `Boss Hunter(TM),' is being released as a $9.99 jewel case title under the eGames brand in September 2006, and will be distributed in both Best Buy and Target stores. Four more titles are scheduled for release at the beginning of calendar 2007, and will include a completely new version of Cinemaware's best-known title, `Defender of the Crown(R),' as well as `The Three Stooges(R)' and two other ground-breaking titles to be announced at a later date. The launch of these new titles will coincide with the introduction of our new eGames web portal currently being developed to become a true `destination' website for both serious and casual gamers."
Mr. Klein continued, "Our financial results for fiscal 2006 were disappointing regardless of the fact that this year included the costs of investing in the future. Today I believe we have realigned our resources in a way that will better position us in fiscal 2007 to begin to better exploit both online and retail opportunities. Additionally, by internally developing our own PC game titles, we hope to gain additional revenue opportunities by leveraging these wholly owned game properties in both retail and online markets worldwide. In the past our segment of the PC game market was restricted to North American retailers, some Internet retail websites, and certain international markets where we had limited distribution rights for certain licensed properties. We are confident that fiscal 2007 will mark the launch of an eGames business model designed to adapt to the consumers continually evolving buying behavior -- on the Internet and at retail."
eGames, Inc. Balance Sheets (Audited)
As of As of June 30, June 30, ----------- ----------- ASSETS 2006 2005 ------ ----------- ----------- Current assets: Cash and cash equivalents $ 1,526,629 $ 2,412,162 Accounts receivable, net 521,086 269,168 Inventory, net 973,735 893,766 Prepaid and other expenses 299,661 313,684 ----------- ----------- Total current assets 3,321,111 3,888,780
Furniture and equipment, net 49,595 49,881 Goodwill 420,000 - 0 - Intangible assets 24,089 24,089 ----------- ----------- Total assets $ 3,814,795 $ 3,962,750 =========== ===========
LIABILITIES AND STOCKHOLDERS' EQUITY ------------------------------------ Current liabilities: Accounts payable $ 343,283 $ 156,592 Accrued expenses 614,668 409,640 ----------- ----------- Total current liabilities 957,951 566,232 ----------- -----------
Stockholders' equity: Common stock 9,179,827 9,179,827 Additional paid-in capital 2,135,168 1,636,144 Accumulated deficit (7,956,734) (6,918,036) Treasury stock (501,417) (501,417) ----------- ----------- Total stockholders' equity 2,856,844 3,396,518 ----------- ----------- Total liabilities and stockholders' equity $ 3,814,795 $ 3,962,750 =========== ===========
eGames, Inc. Statements of Operations
(Unaudited) (Audited) Quarters Ended Years Ended June 30, June 30, ----------------------- ----------------------- 2006 2005 2006 2005 ---------- ---------- ---------- ---------- Net sales $1,043,224 $ 793,899 $4,756,187 $5,343,981
Operating expenses: Product development 185,313 93,115 561,621 538,002 Selling, general and administrative 804,946 612,723 2,614,723 2,492,357 ---------- ---------- ---------- ---------- Total operating expenses 990,259 705,838 3,176,344 3,030,359 ---------- ---------- ---------- ---------- Operating loss (511,962) (338,652) (1,078,731) (169,598)
Interest income, net 8,256 2,297 40,033 7,130 ---------- ---------- ---------- ---------- Loss before income taxes (503,706) (336,355) (1,038,698) (162,468)
Benefit for income taxes - 0 - 24,355 - 0 - 7,571 ---------- ---------- ---------- ----------
Net loss ($503,706) ($312,000) ($1,038,698) ($154,897) ========== ========== ========== ========== Net loss per common share: - Basic ($ 0.04) ($ 0.03) ($ 0.09) ($ 0.01) ========== ========== ========== ========== - Diluted ($ 0.04) ($ 0.03) ($ 0.09) ($ 0.01) ========== ========== ========== ========== Weighted average common shares outstanding - Basic 11,724,193 10,906,754 11,493,464 10,445,216
Dilutive effect of common share equivalents - 0 - - 0 - - 0 - - 0 - ---------- ---------- ---------- ---------- Weighted average common shares outstanding - Diluted 11,724,193 10,906,754 11,493,464 10,445,216 ========== ========== ========== ==========
About eGames, Inc.
eGames, Inc., headquartered in Langhorne, Pennsylvania, publishes and markets a diversified line of interactive entertainment titles which now include the eGames(TM), Cinemaware(R) and Cinemaware Marquee(TM) brands. Additional information regarding eGames, Inc. can be found at www.egames.com.
Forward-Looking Statement Safe Harbor:
This press release contains certain forward-looking statements, including without limitation, statements regarding: continuing to seek high-quality titles to license and publish under the Cinemaware Marquee brand; continuing to publish value-priced PC games under the eGames brand; the expected release of the Company's first internally-developed title, "Boss Hunter," as a $9.99 jewel case title in September 2006, with distribution in both Best Buy and Target stores; the expected release of four more titles at the beginning of calendar 2007, including "Defender of the Crown" and "The Three Stooges," and two other titles to be announced at a later date; the expected launch of these new titles coinciding with the introduction of a new eGames web portal; the expectation that the Company has realigned its resources to better position the Company in fiscal 2007 to exploit both online and retail opportunities; the expectation that the Company can gain additional revenue opportunities by leveraging its internally-developed titles in both retail and online markets worldwide; the Company's expectation that fiscal 2007 will mark the launch of an eGames business model designed to adapt to consumers' continually evolving buying behavior on the Internet and at retail. The Company cautions readers that the risks and uncertainties that may affect the Company's future results and performance include, but are not limited to, delays in the development of future titles and the new game portal; inability to fund continued development of future titles and the new game portal; technical and other issues that may delay or halt development of future titles and the new game portal; as well as the risks and uncertainties discussed under the heading "Factors Affecting Future Performance" in the Company's Annual Report on Form 10-KSB for the fiscal year ended June 30, 2005 as filed with the Securities and Exchange Commission.
The Three Stooges(R) is a registered trademark of C3 Entertainment, Inc.
CONTACT: eGames, Inc. Jerry Klein, President & CEO (215) 750-6606 (Ext. 118) Tom Murphy, Vice President & CFO (215) 750-6606 (Ext. 113)
Silver Screens Studios: Global 1 Realty Corporation Organizes International Real Estate Investors Assn.
Business Wire via COMTEX
Aug 28, 2006 9:14:10 AM
ATLANTA, Aug 28, 2006 (BUSINESS WIRE) --
Silver Screen Studios, Inc. (OTCBB: SSSU), www.silverscreenstudiogroup.com,http://finance.yahoo.com/q?s=SSSU.OB, Traders Nation, www.tradersnation.com/sssu.shtml, Global 1 Realty Corporation, www.1global1realty.com, launches $25 million Reg. S fund for global investors and selects portfolios for investment. To assist the launching of several new real estate funds we have in development, our strategic business unit Global 1 has established: International Real Estate Investors Assn. as an information exchange and market analysis group for the real estate investor.
International Real Estate Investors Assn.:
The International Real Estate Investors Assn. ("IREI") was organized as a means to reach and market to the global real estate investor with opportunities for investment in USA real estate assets. Given the strength of the dollar against other major currencies, and the lack of inflation in the USA, real estate assets are poised to grow at an accelerated rate now that the Federal Reserve has paused in its interest rate hiking.
The flattening of the yield curve is an indicator of a slowdown in the global stock market. We feel the investor will make a re-allocation of assets into different sectors with real estate along with energy as the most likely place for asset re-deployment.
Strategic Positioning of Portfolio:
As part of our mission to educate the investor of the virtues of real estate investing, we will prepare comprehensive reports on what we believe are opportunities in the American real estate sector. Our fund and portfolio construction will reflect these opportunities.
About Global 1 Realty Corporation:
Global 1 is organized as a vertically integrated real estate company. Although newly formed, Global 1 is part of the SSSU restructuring new business model. Global 1 will seek out and develop opportunities exclusively in the real estate sector by the creation of various funds for different classes of properties. The family of funds we construct will have equity, fixed income, real estate securities, mortgage, affordable housing and commercial assets as investment opportunities of different classes of investors.
Disclaimer: The below disclaimer is incorporated by reference as if fully set forth herein this as well as all media releases on SSS behalf. The statements contained in this released are forward looking and may or may not occur due to forces beyond the company's control.
SOURCE: Silver Screen Studios, Inc.
Silver Screen Studios, Inc., Atlanta Donald Evans, 404-255-0400 sssu*mindspring.com
Copyright Business Wire 2006
-------------------- The difference between genius and stupidity is that genius has its limits
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PQL Research: PQL ****: A Leap of Faith (OTC: CSHD)NEW JERSEY, Aug 28, 2006 (M2 PRESSWIRE via COMTEX) -- PQL Research, a smallcap, microcap, and nanocap stock research group, today announced that its most recent **** entry, "A Leap of Faith", featured Conversion Solutions Holdings Corp (OTC:CSHD). The full **** entry is available through the 'PQL ****' section of the http://www.pqlresearch.com website. The **** is RSS-capable and updated regularly.
The **** does not intend to issue any positive or adverse opinion on the operations or performance of Conversion Solutions. A **** is an expression of opinion, and as such, is not a recommendation or solicitation to buy or sell any security. PQL Research and its editors do not own any shares of Conversion Solutions, and have not been compensated by any party to compose the **** or this release. 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 http://www.cvsu.us.
On Friday, CSHD closed at $.86, down .02 (2.3%), on 639,227 shares traded.Approximately $535,000 traded through the stock across 349 trades. CONTACT: Tim Fostik, PQL Research e-mail: info*pqlresearch.com M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info*m2.com. (C)1994-2006 M2 COMMUNICATIONS LTD -0-
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[ August 28, 2006, 09:45: Message edited by: BuckyBarnes ]
-------------------- "No nation was ever ruined by trade." Benjamin Franklin
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BANY (.04) Banyan Corporation Has Record Quarter/YTD Aug 28, 2006 9:30:00 AM
LOS ANGELES, CA -- (MARKET WIRE) -- 08/28/06 -- Banyan Corporation (OTCBB: BANY) is pleased to announce record second quarter results, as well as record year to date results as filed in the 10-QSB last week. With assets at June 30th, 2006 over $6.3 million, and stockholders' equity improving, the company's growth and development plan is proceeding on schedule.
Banyan's operating subsidiaries, Chiropractic USA, Inc. and Premier Medical Group, Inc., have each posted operating profits year to date. Revenues continue to grow to the record level of $2,659,310 for the six months ending June 30th, 2006, up from revenues of $442,093 for the same period in 2005.
Banyan CEO Michael Gelmon stated: "The acquisition of Premier in February has certainly strengthened the company as it is performing right on target with strong revenues and profitability. Chiropractic USA is showing huge potential, and we are about to roll out a new development program that should increase the number of Chiropractic USA clinics under various new initiatives that we have been working on for some time. Not only should these new initiatives significantly increase our clinic count, our franchise revenues should also increase as some of these programs come on line."
Noting strong performance indicators from the recently acquired Premier Medical Group, Inc. subsidiary, Banyan COO, Marshall Wilmot, added: "Premier has certainly been a strong component of the company and will continue to improve through the end of the year. As Premier has commenced the sale of its new VT3000 Nerve Conduction Velocity testing machines to doctors nationwide, and testing revenues are now online, a new source of revenue has been created which supplements the strong existing business. This, coupled with the new growth strategies being implemented in Chiropractic USA, give us great momentum for a strong second half of the year."
For more information on Chiropractic USA, Diagnostic USA, and Premier Medical Group contact Banyan Corporation Investor Relations toll-free at (800) 808-0899 or visit www.chiropracticUSA.net or www.virtualmedicalsystems.com
About Banyan Corporation
Banyan Corporation is a publicly traded holding company focused on investing in and building a network of operating subsidiaries engaged in various innovative businesses. Currently the company's subsidiary, Chiropractic USA, Inc., is focusing on the development of branded chiropractic clinics throughout North America by way of franchising chiropractic clinics under its marks and uniform operating systems and practices. The company's other subsidiaries, Premier Medical Group LLC, and Diagnostic USA, Inc., provide diagnostic testing to physicians nationwide.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Banyan Corporation) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the high technology industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Banyan Corporation. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, changes in federal or state tax laws, and market competition factors. For a description of additional risks and uncertainties, please refer to Banyan's filings with the Securities and Exchange Commission.
RMD Entertainment's "Texas Beach Party" DVD Series Ready for Mass Distribution Aug 28, 2006 9:45:00 AM
PHILADELPHIA, PA -- (MARKET WIRE) -- 08/28/06 -- RMD Entertainment Group (PINKSHEETS: RMDG) announced today that their long-awaited "Texas Beach Party" DVD project is just out of postproduction and ready for public distribution. The "Texas Beach Party" (a.k.a. Kappa Beach Party) is one of the largest spring break events in the world, which takes place every year in April. At its peak, more than 100,000 students and participants have made the annual trek to Galveston, Texas for 3 days full of fun, food, festivities, entertainment, music and more. This year was dominated by hip-hop, featuring performances by the hottest artists in the industry like RMD's own Roc Monee and Big Kuntree -- along with Mike Jones, Lil' Flip, Dem Franchize Boyz, B.G., Beanie Sigel and Chamillionaire, to name a few.
Originally, the footage amassed during the show was to be edited into one piece and distributed as "The Texas Beach Festival;" however, after RMD CEO Giorgio Costonis and Beaty Four Entertainment CEO Frank Beaty saw the performance footage, they agreed that there was enough incredible footage of each performer to produce an additional series of multi-platform delivery segments from the project. Each performance was edited into its own separate piece and will be distributed individually by RMD via internet, video on demand, IPTV, and mobile platforms. The DVD will be distributed by Bungalo Records (exclusively distributed by Universal Music & Video Distribution). Beaty Four Entertainment and RMD executives are currently exploring a multi-city DVD launch tour in which key markets would be targeted for live promotional performances by the key artists from the event.
RMD CEO Giorgio Costonis commented, "This is another example of a project we have taken the time to nurture. Much like Block Star DVD Magazine, this is content we know resonates well in the hip-hop community and we are confident it will do very well at retail." Costonis added, "The 'Texas Beach Party' event made such an impact on the crowd in attendance that we knew it had to be made available on DVD. We see this series as the type of creative content that will generate revenue on various platforms ... and we are exploring them all. The bottom line is if we can sell it as one piece with the largest distributor in our marketspace carrying the product to top retailers and we can sell pieces of the project via other platforms, we expect a good return on our efforts and resources."
Individual performances and clips of the "Texas Beach Festival" are expected to be available via Google and other online providers next month with corporate sponsors footing the bill for the consumer viewing.
In essence, the RMD business platform allows revenue to be generated while promoting its products in newer broadcast platforms as the battle for content continues on.
DVD release is expected in the first quarter of 2007.
About RMD Entertainment Group
RMD Entertainment (RMD) is a cutting-edge entertainment company that is primarily focused on the development and international marketing of 'hip-hop' music, including compact discs, digital downloads, and personal 'ring tones' for mobile phone customers, as well as other 'hip-hop' lifestyle products. The Company has also created MOTV, the ability to stream video content to mobile devices, including cell phones and PDAs. RMD has significant successes internationally and its staff producers have collaborated with some of the most influential names in the music today including Sting, David Byrne of the Talking Heads, George Kranz, Freedom Williams of C & C Music Factory, Stevie Winwood, Robin Scott, and jazz saxophone legend Bill Evans, among others. The Company currently possesses an impressive hip-hop catalogue, which it distributes exclusively through Bungalo Records and Universal Music Group (a subsidiary of Vivendi Universal) in North America and in Europe through the Pickwick Group Ltd. of London.
Forward-Looking Statements
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 RMD Entertainment Group, 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.
CONTACT: Jed Wallace Publicist Phone: (310) 234-3200 Mail to: jwallace*mphpr.com
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CXIA (.13) Awarded Two Year Contract Extension From Bechtel Jacobs, Co. in Oak Ridge, TN
NEW YORK, NY -- (MARKET WIRE) -- 08/28/06 -- Commodore Applied Technologies, Inc. (OTCBB: CXIA), today announced that its wholly owned engineering services subsidiary, Commodore Advanced Sciences, Inc. (CASI), has been awarded a two year option extension to the environmental sampling and data integration contract by Bechtel Jacobs Company, LLC (BJC) of Oak Ridge, TN. The contract option extends the contract through September 2008.
The Environmental Data Acquisition and Management (EDAM) contract was originally awarded to CAST and was valued at over $14 million for the two year base period which ends in September 2006. The original EDAM contract scope of work included four major components: execution of environmental sampling, sample management, sample analyses, and environmental information management. Sampling includes collecting soil, groundwater, surface water, air, sediment, biological, waste characterization, and building D&D samples in support of site closures and CERCLA, RCRA, NPDES, and TSCA compliance at all three U. S. Department of Energy (DOE) Oak Ridge sites: ETTP, ORNL, and Y-12. Sample Management includes coordination of sample shipments to analytical laboratories and data management.
The CAST team has performed on 57 work releases (Task Orders) over the last two years delivering sampling and data management services to BJC in the Oak Ridge, TN area. The CAST team has achieved a perfect safety record over the last two year period on the EDAM contract. The CAST Team has performed all sampling activities, both routine and challenging, with strict adherence to quality controls and health and safety guidelines set by BJC.
Commodore's Chairman and CEO Shelby Brewer stated: "This is great news for our company and its stockholders. The extension indicates the satisfaction our client has in our performance." Mr. Brewer continued: "The elements of the extension are different and more appropriate for Commodore compared to the original work scope. BJC has taken steps to 'de-clutter' the contract, by self performing sample management activities and environmental information management activities. This will remove the administration of analytical laboratories, a non-margin work scope for Commodore. We expect that the sampling volume will continue to be as robust in 2007 and 2008 as in previous years, which will reflect positively in our operating margins for the Company."
Mr. Walter Foutz, the EDAM Program Manager, commented that: "The contract option award and modification of the scope of work is an indication of the client's satisfaction with Commodore's competence in safely performing its core capabilities in environmental monitoring while also delivering best value. The modification of the scope of work will allow us to grow our core capabilities and remove the obligations of no-fee administrative tasks."
Commodore Applied Technologies, Inc. is a diverse technical solutions company focused on high-end environmental markets. The Commodore family of companies includes subsidiaries Commodore Solution Technologies and Commodore Advanced Sciences. The Commodore companies provide technical services and patented remediation technologies designed to treat hazardous waste from nuclear and chemical sources. More information is available on the Commodore web site at http://www.commodore.com.
This Press Release contains forward-looking statements that are based on our current expectations, beliefs and assumptions about the industry and markets in which Commodore Applied Technologies, Inc. and its subsidiaries operate. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause Commodore's actual results to be materially different from any future results expressed or implied by these statements. Actual results may differ materially from what is expressed in these statements, and no assurance can be given that Commodore can successfully implement its core business strategy and improve future earnings.
The factors that may cause Commodore's actual results to differ from its forward-looking statements include: Commodore's current critical need for additional cash to sustain existing operations and meet ongoing existing obligations and capital requirements; Commodore's ability to implement its commercial waste processing operations, including obtaining commercial waste processing contracts and processing waste under such contracts in a timely and cost-effective manner; the timing and award of contracts by the U.S. Department of Energy for the clean-up of waste sites administered by it; the acceptance and implementation of Commodore's waste treatment technologies in the government and commercial sectors; and other large technical support services projects. All forward-looking statements are also expressly qualified in their entirety by the cautionary statements included in Commodore's SEC filings, including its quarterly reports on Form 10-Q and its annual report on Form 10-K.
Contact: James M. DeAngelis (212) 308-5800
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PITTSBURGH, Pa., Aug. 28 /PRNewswire/ -- The promise of stem cells and regenerative medicine discoveries and their potential to transform the treatment of disease, continues to drive biological research and technology development in the life sciences. The fact that analysts predict that a market based on stem cell therapies could grow anywhere from $10-30 billion by 2010 makes it vital for us to gain a better understanding of how this science will advance the future of healthcare.
Considering this need, the Strategic Research Institute will bring together global thought leaders from academic and industrial research for two days of focused scientific discussion around emerging discoveries in stem cells and regenerative medicine. The conference, scheduled for October 16-17th in Pittsburgh, will explore new developments in: discovery cells, discovery enabling materials, pre-clinical development, clinical development, new technologies, commercialization & investment opportunities and regulatory issues.
Presenting companies and institutions include: Advanced Cell Technology, Arteriocyte, Avlar BioVentures, Celgene, Cellerant Therapeutics, Center for Biologics Evaluation and Research/US-FDA, Eli Lilly, Fred Hutchinson Cancer Research Center, Geron, Intercytex, McGowan Institute for Regenerative Medicine, Novocell, Pfizer, Pittsburgh Lifesciences Greenhouse, Pittsburgh Tissue Engineering Initiative, Plasticell, Proteus Venture Partners, Q Therapeutics, Reeve-Irvine Research Center, Rodman & Renshaw, Stem Cell Therapeutics Corp., The Biologics Consulting Group and the University of Wisconsin at Madison.
Early bird pricing ends Friday September 1, 2006, so people interested in attending are encouraged to register early. Companies interested in sponsoring or exhibiting at the meeting should contact Hank Woji at 719-290-8836 or hwoji*srinstitute.com.
To receive the full agenda in PDF, please contact Seth Fritts of Strategic Research Institute at sfritts*srinstitute.com or 212-967-0095, x256. You can also view the agenda and speakers on the web at: www.srinstitute.com/stemcells.
To become a media partner, please contact Cheryl Kahan-Radhuber at 212-967-0095 x273 or ckahan-radhuber*srinstitute.com.
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XSNX (.54) Looks to Tap Into U.S. Government's Solar America Initiative >ALISO VIEJO, Calif., Aug. 28, 2006 (PRIMEZONE) -- XsunX, Inc. (OTCBB:XSNX), provider of technologies for solar energy infrastructure and developer of Power Glass(tm), an innovative thin-film solar technology that is intended to allow glass windows to produce electricity from the power of the sun, today announced that letters of intent submitted in July for project funding opportunities under the President's Advanced Energy Initiative have been cleared for formal grant submittal under the Technology Pathway Partnerships Phase 1 program to promote the commercialization of emerging technologies in thin film photovoltaics, manufacture, and systems integration.
As part of an increasing objective of the U.S. government to wean the country's dependence on foreign energy sources, the President's Advanced Energy Initiative and its 2007 Budget propose a new $148 million Solar America Initiative (SAI) -- an increase of $65 million over the FY06 budget. The purpose of the Solar America Initiative is to accelerate the development of advanced solar electric technologies, with the goal of making them cost-competitive with other forms of renewable electricity by 2015.
"What's exciting about this opportunity for XsunX is that the government's program can fund half a project's cost up to $20 million dollars and is looking to create vertically integrated groups of technology partners to come together and provide innovative new ways to apply the solar energy opportunity to our environments," stated Joseph Grimes, XsunX's COO. "This has been the focus of our business in the development of building integrated photovoltaics or 'BIPV' applications with partners from other industries such as the glass and glazing industries. Our Company has already made significant strides in developing manufacturing methods and proprietary thin film solar cell designs for converting the large areas of modern high rise glass facades into energy saving, power producing structures. We hope that these efforts may now assist our government in its effort to establish renewable energy sources for the future," concluded Grimes.
The Solar America Initiative, managed by the U.S. Department of Energy Solar Energy Technology Program (SETP), has established goals to develop partnerships and strategic alliances with industry participants, universities, Federal and state government, and other non-governmental agencies. The two primary areas of focus of the SAI are to develop Technology Pathway Partnerships for research and development on PV component and system designs, including low-cost approaches for manufacturing; and Technology Acceptance activities that address marketplace barriers and offer the opportunity for market expansion.
About XsunX
Based in Aliso Viejo, Calif., XsunX is developing and commercializing innovative new thin film photovoltaic (TFPV) solar cell technologies and manufacturing processes to service expanding global energy demands. The Company has focused its efforts on lowering the cost per watt of solar power and making solar cell technology easier to use in a wide variety of applications. XsunX calls this dual improvement to cost and efficiency the XFactor(tm). The XFactor delivers licensee's solar cell designs that break the bounds of crystalline silicon dependency, rigid and limited-use form factors, and rapid efficiency loss. Equally important, the XFactor provides new manufacturing techniques that can significantly lower production costs and allow for easier additions to production capacities and technology upgrades without having to re-build and re-tool. Together, XsunX design and production innovations offer manufacturers of solar products exciting new application opportunities and reductions to the cost per watt of solar power. More information can be found at the Company's website: http://www.XsunX.com.
Safe Harbor Statement: Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
CONTACT: XsunX, Inc.
Investor Relations
(888) 797-4527
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Michelex Corp. Revitalizes Its Music Division; Expanding Revenue Growth and Profit MASSENA, N.Y., Aug. 28, 2006 (PRIMEZONE) -- Michelex Corp. (Pink Sheets:MLXO) ("Michelex" or the "Company"), a plastic manufacturing company and an audio record production group, announced today that it has begun the process to revitalize and expand its music division.
Unbeknown to many, Michele Audio Corporation of America ("Michele"), a division of Michelex Corp., is the owner of over 9,000 copyrights, of which many albums are available on the market today. "STRADIVARI (Classical)," MICHELE RECORDS (Big Band Era and vintage jazz) and "COUNTRY HARVEST (rare and historical Country Recordings)," to name a few, are record labels owned by Michele.
Thomas Gramuglia, Executive Producer and owner of Bop Talk Music, his publishing company, will focus on putting out new recordings on CD compiled from their vast catalog of unreleased masters. Revenues from this plan are projected to increase sales by $500,000.00 for the year 2007.
The Company recently learned that one of its major competitors on the plastics side has closed their doors and gone out of business. This puts the Company in an excellent position in the industry because there will be a need to fill an immediate void in the industry to the tune of over 100,000,000 CD jewel boxes, cassette boxes and DVD boxes -- all items that are currently being manufactured by Michelex Corp. in the USA.
The Company stated its arrangement with Utica Leasco that took out Wells Fargo for $1.2 million was debt financing. This traditional financing was a sale/leaseback of its equipment amortized over five (5) years with an option to purchase at the end of the lease.
The Company is in the process of completing the necessary financial statements that will enable it to have a 15(c)(2)(11) filed to quote its common stock on the OTC Bulletin Board.
About Michelex
Michelex Plastics, founded in 1972, is a manufacturer/importer and distributor of C-Zero's, Cshells, Norelco Boxes, Jewel Boxes, DVD Boxes and other related specialty plastic products. The Company has manufacturing facilities and distribution points in New York and Salt Lake City. The Company employs people who are committed to its customers and to the operations of the business. Michelex offers a full range of products through its divisions to make it a one-stop shop for its customers.
Michele Audio -- Audio duplication services and an exclusive rights holder of a large catalog of music and spoken word recordings.
Michelex Media Products -- Producer, supplier and distributor of paper multimedia packaging products, also offering complete fulfillment services to its customers.
Safe Harbor
This release may contain forward-looking statements within the meaning of the Private Securities Litigation reform Act of 1995. The risks and uncertainties that may affect the operations, performance, development and results of the Company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company's SEC reports.
CONTACT: Michelex Corp. Thomas Gramuglia (315) 769-6616
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Pilgrim Petroleum Corporation Signs Master Operating Agreement with General Energy Corporation
Business Wire via COMTEX
Aug 28, 2006 12:03:26 PM
IRVING, TEXAS, Aug 28, 2006 (BUSINESS WIRE) --
Pilgrim Petroleum Corporation, an independent oil and gas company, announced today that it has entered into a master operating agreement with General Energy Corporation from Dallas, Texas. The agreement covers Pilgrim Petroleum's additional and current leases and all future properties in Wichita, Clay, Archer, Jack, Cook and Montague counties of North Texas.
General Energy will begin immediately to perform all the necessary work to assure that Pilgrim Petroleum's properties are in full compliance with the regulations of the Texas Railroad Commission and re-establish oil production on the inactive leases over the coming months. General Energy will work in conjunction with American Petroleum, Pilgrim Petroleum's current operator. General Energy Corporation is an RRC of Texas fully bonded operator.
Pilgrim Petroleum Corporation President, Rafael Pinedo, said, "We are aggressively continuing our Reactivation Program and very soon will begin a drilling program leveraging all resources available to enhance recovery and further improve Pilgrim's production."
About Pilgrim Petroleum Corporation: Headquartered in Irving, Texas, Pilgrim Petroleum Corporation is a publicly traded independent oil and gas company (Pink Sheets:PGPM). The company is acquiring oil and gas leases, producing properties, mineral rights, and surface interests in Texas. Once acquired, the company intends to develop each property to maximize the income from each property by re-establishing production, refurbishing and improving the existing production and operations.
Forward-Looking Statements: The statements which are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements.
(C) 2006 Pilgrim Petroleum Corporation. The information herein is subject to change without notice. Pilgrim Petroleum Corporation shall not be liable for technical or editorial errors or omissions contained herein.
SOURCE: Pilgrim Petroleum Corporation
Pilgrim Petroleum Corporation, Dallas Eddie Monet, 619-864-0166 emonet*americancapitalipo.com www.apetroleum.com
Copyright Business Wire 2006
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>CHEYENNE, Wyo., Aug. 28, 2006 (PRIMEZONE) -- Amelot Holdings, Inc. (Pink Sheets:AMHD) is pleased to announce that the Company's subsidiary, Amelot Alternative Energy, Inc., has supplied Northeast Express, a New Hampshire-based trucking company, with bio-diesel that was produced during the employee training program. Northeast Express has agreed to use the fuel in its fleet and is in discussions to enter into a purchase agreement with Amelot.
Northeast Express provides trucking services throughout the northeastern and mid-western United States. Currently it has 18 company-owned and owner-operated trucks in its fleet. Some of Northeast's customers are Wal-Mart and Concrete Systems, which builds control towers for Cingular. Northeast Express has also offered its trucking services to Amelot to ship its bio-fuel to customers in the New England area.
About Amelot Holdings, Inc.
Amelot Holdings, Inc. is a diversified holding company focused on alternative energy and bio-fuels.
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing and access funds from our existing financing arrangements that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.
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GFCI (.15) Grifco's Merger Partner Tree Top Industries Files Schedule 14A and 8-K With SEC
HOUSTON, TX -- (MARKET WIRE) -- 08/28/06 -- Grifco International, Inc.'s ("Grifco" or the "Company") (PINKSHEETS: GFCI) merger partner Tree Top Industries, Inc. today filed a Definitive Schedule 14A and Form 8-K with the Securities and Exchange Commission to provide additional information regarding the proposed reorganization merger with Grifco. For copies of these filings, please visit http://www.sec.gov/cgi-bin/browse-edgar?company=&CIK=GOMD&filenum=&State=&SIC=&o ....
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" and 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 and takes no obligation to update or correct information prepared by third parties that is not paid for by the Company.
Contact: Chicago Investor Relations LLC 312.238.9875
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