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NVMG (.011) U.S. Department of Interior Approves 2 Oil & Gas Leases/ Funding Update
Business Wire "US Press Releases "
FOREST HILLS, N.Y.--(BUSINESS WIRE)--
Native American Energy Group, Inc. (the "Company" or "NAEG") (OTC Pink Sheets: NVMG), an independent energy company, today announced the approval of 2 Oil & Gas leases by the U.S. Department of Interior, Bureau of Indian Affairs consisting of a combined 240 acres. U.S. DOI Contract No. 14-20-0256--541 on Tract No. M 3984-A and Contract No. 14-20-0256-0542 on Tract No. M 1838-B are located in the Williston Basin and are consistent with NAEG's other recent targeted acquisitions.
Funding Update:
On Dec. 14, 2006 the Company announced an agreement had been reached for $5,000,000 in funding. The slight delay in receiving the first tranche is due to the size of the transfer and the fact that it is US dollars first going through the Federal Reserve System and the necessary clearances of the Patriot Act and Homeland Security before being forwarded to a law firm's escrow account in Canada. This is normal procedure.
Officers and directors, Joseph D'Arrigo, Raj Nanvaan and Richard Ross of Native American Energy Group met with "the Lender" and more than 50 business leaders in a 3-day Planning Conference that was held in Las Vegas February 16-18, 2007. The meetings pertained to matters relating to joint ventures, future expansion, the $5 Million funding specifically for NAEG, and additional funding for our joint projects. Our lender did confirm that the money has already been sent.
Shareholder and investor inquiries should be addressed to ir*nativeamericanenergy.com. All material developments and vital releases will be put out in the form of press release, filing, and/or independent research report on the company.
NAEG's previous achievements can be accessed on the Investor Relations page:
Safe Harbor Statement: This News Release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and section 21E of the United States Securities & Exchange Act of 1934, as amended, with respect to corporate objectives, projections, estimates, operations, acquisition and development of various interests and certain other matters. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein.
Source: Native American Energy Group, Inc.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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RRLB (.021) Requests Consistent Enforcement of SEC Rules
PrimeZone "PrimeZone "
DEERFIELD BEACH, Fla., Feb. 21, 2007 (PRIME NEWSWIRE) -- Red Reef Laboratories International, Inc.'s (Pink Sheets:RRLB) Executive Vice President Peter Versace says, "Everyone is entitled to an opinion. But enough is enough!" Following is a letter Red Reef Labs sent to the Chairman and Commissioners of The Securities and Exchange Commission today in an effort to help establish an orderly market in the shares of Red Reef Labs and all emerging growth companies.
February 21, 2007
Chairman Christopher Cox SEC Headquarters 100 F Street, NE Washington, DC 20549
Dear Chairman Cox,
Everyone, even remotely aware of equity markets and small cap trading has heard of companies that have fallen victim to illegal, aggressive short selling. Investors, who are willing to accept measured risk for the potential of greater returns, are entitled to a level playing field. Hundreds of investors and entrepreneurs are adversely affected by short-sellers whose profits depend on their efforts to destroy a company's ability to access equity capital. Constant, unrelenting pressure on publicly traded shares makes it unattractive to potential investors, seeking ground floor opportunities. This culture of greed, abetted by little or no consequences to their illegal and immoral behavior, hurts all Americans by discouraging new companies from "going public", and equity players from making capital available to start-ups and emerging growth companies. These companies are the backbone of the American economy and should succeed or fail on their own merit or of their own weight.
We strongly recommend that existing rules be enforced consistently. Consideration should be given to returning to the three day settlement procedures on all "penny stocks". Delivery versus payment would virtually eliminate short selling as a means of severely harming small companies for profit.
We urge the commission to consider our suggestions and take what ever actions at your disposal to end short selling in violation of your rules, once and for all.
Yours Truly,
/signed/ ----------------------- Dr. Claus Wagner Bartak President and Chairman
Cc: Commissioner Paul S. Atkins, Commissioner Roel C. Campos, Commissioner Annette L. Nazareth, Commissioner Kathleen L. Casey, Division of Market Regulation, Division of Enforcement
Ultimately, good investor relations and earnings combine to overcome the 'forces of evil.' Red Reef Labs, keenly aware of the dynamics in play, will endure. Our plans for growth and expansion are clear and we are more than satisfied with our progress to date. Fortunately we have found creative ways to reach our objectives and though inconvenienced by market activity, are not the least bit dissuaded. We're in for the long haul. Any and all devices or tools available to discourage short selling are being considered and implemented. More importantly, we're building and growing!
Dr. Claus Wagner-Bartak added, "We are grateful and appreciative of our loyal family of shareholders and will continue to strive for the objectives you anticipated with your investment in Red Reef Labs. Though we are not yet a 'reporting company,' we have elected to have our financials audited and available to our shareholders via e-mail, on request. We are always available and glad to hear from our shareholders and potential investors."
Forward-Looking Statements
Certain statements in this news release may contain 'forward-looking' information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward-looking statements that may involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.
CONTACT: Red Reef Laboratories International, Inc. Dr. Claus Wagner-Bartak (954) 725-9475 www.rrlabs.biz
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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Thats a wonderful letter! I wonder what would happen if he got 10`s of thousand of these in his in-box? Not to mention the Department of Home Land Security getting several thousand about drug smugglers and mobsters washing their dirty money this way. What ya`ll think about that!!!!!!!!!!!!!
Posts: 90 | From: Westren New York | Registered: Jun 2006
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All material developments and vital releases will be put out in the form of press release, filing, and/or independent research report on the company.
So a pr is coming soon for NVMG
Posts: 430 | From: miami, fl | Registered: May 2006
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SCYF (.14) Announces Acquisition of Alarm Monitoring Assets
Market Wire "US Press Releases "
HOUSTON, TX -- (MARKET WIRE) -- 02/21/07 -- Security Financing Services, Inc. (PINKSHEETS: SCYF), a provider of sophisticated, IP and physical security convergence solutions, has closed the initial $1.5 million tranche of a $4 million, three-tranche purchase of alarm monitoring assets. The seller is S3 Video Systems, LLC, a private Texas investment company. This first tranche is made up of approximately 1,100 residential and commercial alarm monitoring accounts located in and around Houston, Texas. SCYF will be providing alarm monitoring and access control services to several local governmental entities and national retail accounts, including Cici's Pizza, T-Mobile, CompUSA, Subway Restaurants, Cingular Wireless, ReMax Realty, Williams Gas Pipeline, the State of Texas Youth Commission and Department of General Services, and the Harris County Independent School District.
Mike Hardy, President and CEO of SCYF, stated, "We expect high margin revenue to flow from this diversified portfolio of alarm monitoring accounts for a minimum of 84 months. The portfolio provides us with a strong customer base, and we expect it to generate strong demand for our equipment and services for years to come.
"We anticipate announcing the closing of the second and third tranches of this important acquisition in the very near future," continued Hardy.
Coming on the heels of its recent announcement of its intent to acquire Nsite, LLC, a provider of Lessons Learned Technology to the Defense Department and branches of the U. S. military, and its recently announced agreement with the Alliance for Security in Education, the closing of this acquisition is an important step in the consolidation of SCYF's IT/Physical Security Convergence Strategy.
Security Financing Services, Inc., a designated Honeywell Security Products dealer, is a cutting-edge technology company focused on end-to-end network solutions for customers. Solutions range from the smallest homeowner to the largest government or commercial enterprise. In addition to providing financing services to alarm dealers and integrators, SCYF also operates and manages a portfolio of alarm monitoring accounts throughout Texas and the Southeast. SCYF designs, installs and monitors digital video surveillance networks for government, industrial and commercial application.
Forward-Looking Statements: This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Contact: Phillip M. (Mike) Hardy President 281-340-9704 mhardy*securityfinserv.com www.securityfinserv.com
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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UCPI (.321) Signs Agreement for South Texas Prospect with 3.5 Bcf of Potential Gas Reserves
Business Wire "US Press Releases "
HOUSTON--(BUSINESS WIRE)--
Unicorp, Inc. (OTCBB:UCPI) announced today that it has entered into an agreement that identifies and provides engineering, technical and intellectual data, including 3D seismic, on a new prospect located in South Texas with estimated gross reserves of 3.5 Bcf of gas. This prospect will target the Yegua sands at a depth of approximately 5,500 feet. Unicorp will immediately commence leasing operations and will retain a minimum of a 15% working interest upon the successful leasing of the target area.
About Unicorp
Unicorp, Inc. is primarily engaged in the acquisition, development, exploration and production of crude oil and natural gas. Its focus is on aggressively acquiring working interests in crude oil and natural gas properties with the intent of exploration and development or by enhancing production through the use of modern development techniques such as horizontal drilling, satellite technology and 3-D seismic. The company's goal is to achieve a high return on its investment by limiting its up-front acquisition costs, by quickly developing its acquisitions and by practicing a sound and smart approach to oil and gas exploration and development.
Safe Harbor Statement
This press release contains statements that may constitute forward-looking statements, including the company's ability to successfully acquire oil and gas properties and drill commercial wells. These statements are based on current expectations and assumptions and involve a number of uncertainties and risks that could cause actual results to differ materially from those currently expected. For additional information about Unicorp's future business and financial results, refer to Unicorp's Annual Report on Form 10-KSB for the year ended December 31, 2005 and Form 10-QSB for the quarter ended September 30, 2006. Unicorp undertakes no obligation to update any forward-looking statement that may be made from time to time by or on behalf of the company, whether as a result of new information, future events or otherwise.
Source: Unicorp, Inc.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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SGGFF (.0695) Signs LOI to Sell Santa Gertrudis Gold Property Feb 22, 2007 12:15:00 AM VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 02/22/07 -- Sonora Gold Corp. ("Sonora Gold" or the "Company")(TSX VENTURE: SGG)(PINK SHEETS: SGGFF)(FRANKFURT: T9N) has signed a Letter of Intent to sell 100% of its 100% interest in the Santa Gertrudis Gold Project to Deal Capital Ltd. ("the Purchaser"), a Toronto Venture Exchange listed Capital Pool Company ('DCP.P').
The Purchaser has paid a non-refundable deposit of $25,000 to the Company for the acquisition, and will pay US$650,000 and issue 1,500,000 common shares to the Company upon closing, subject to an escrow agreement. Three more payments of US$500,000 will be paid to the Company in cash or common shares (at the option of the Purchaser) on the first, second and third anniversaries. If the closing of the transaction goes beyond April 30, 2007, the Purchaser will pay the Company US$10,000 to extend the closing date to May 31, 2007.
This transaction provides Sonora Gold an opportunity to participate in the potential upside of a deep Carlin-style exploration program on the Santa Gertrudis property, continue exploration on the Teck Cominco San Enrique Cu-Mo-Au Option Lands, focus on the Cu-Au RHG prospect in Northern British Columbia, and pursue additional opportunities available to the Company.
For further information, please refer to the purchaser's news release dated February 22nd, 2007.
This transaction is subject to TSX Venture Exchange approval.
This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Sonora Gold Corp. Dave McMillan President & C.E.O. (604) 685-5851 or Toll Free: 1-888-685-5851
Sonora Gold Corp. Tom Brady / Chad McMillan Investor Relations (604) 685-5851 or Toll Free: 1-888-685-5851 (604) 685-7349 (FAX)
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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Pilgrim Petroleum Announces General Energy Corporation Signs LOI for North Texas Oil Exploration Project Thursday February 22, 7:03 am ET
IRVING, Texas--(BUSINESS WIRE)--General Energy Corporation today announced the completion of a Letter of Intent ("LOI") to purchase 80% Working Interest (NRI 61%) for prospective oil resources in North Texas properties with leases covering a total of approximately 12,500 acres owned by Pilgrim Petroleum Corporation (OTC: PGPM - News; FWB: PHV). The transaction outlined a sale price based on Pilgrim's Net Present Value of $52.05 million. The total price equivalent for the transaction will be $41.64 million; which will be paid in cash and stock on closing. A definitive purchase agreement will be completed within 30 days. ADVERTISEMENT
The execution of the Letter of Intent will allow the completion of the first phase of the North Texas Drilling Program, which is expected to access over $102,370,000 in probable reserves. According to a Reserve Evaluation dated September 15, 2006, undertaken by Gustavson Associates, over 1.8 million barrels of oil are potentially recoverable and economic.
Pilgrim's Chief Executive, Rafael Pinedo, commented, "We continue to focus on increasing production capacity and we look forward to re-affirming Pilgrim's commitment to identify and negotiate attractive acquisitions of oil and gas properties with an exploitation upside."
About Pilgrim Petroleum Corporation.
Pilgrim Petroleum Corporation (OTC: PGPM - News; FWB:PHV) is an independent oil and gas company based in Irving, Texas. The company is acquiring oil and gas leases, producing properties, mineral rights, and surface interests primary on marginal fields. Once acquired, the company intends to redevelop each property to maximize the income from each property by refurbishing and improving the existing production.
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. 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.
Contact: PGPM Pilgrim Petroleum Corporation Eddie Monet, 619-864-0166 www.apetroleum.com
-------------------------------------------------------------------------------- Source: Pilgrim Petroleum Corporation
Posts: 157 | From: pa, usa | Registered: Oct 2006
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PLNI (.0003) Subsidiary Awarded $415,000 Surfacing Contract for Paris Las Vegas Hotel & Casino
Market Wire "US Press Releases "
LEXINGTON, KY -- (MARKET WIRE) -- 02/22/07 -- Plasticon International, Inc. (PINKSHEETS: PLNI) is pleased to announce that their wholly owned subsidiary, SEMCO Distribution, Inc., has been awarded an estimated $415,000 contract for the surfacing of the pool deck at the luxurious Paris Las Vegas Hotel & Casino, a Harrah's Entertainment company, in Las Vegas, Nevada.
The 86,000 square foot deck will be treated with SEMCO's Pre-Stain, X-Bond and Xtra Gloss Systems. SEMCO's chemical bonding compounds assure long-lasting color, durable protection and environmentally responsible design.
The spacious sundeck encompasses an area surrounding the two-acre, octagonal pool at the base of the Hotel's Eiffel Tower. It is surrounded by French gardens, marble decor, private cabanas and a poolside café. The hotel features classic European architecture with 2,916 guestrooms and 295 suites.
"The Paris Las Vegas Hotel & Casino is the ultimate in style and elegance and our surfaces will compliment and protect that environment. This is one of many new projects in Las Vegas this year and we're anxious to show off the SEMCO surfaces in such a unique venue," stated Jim Turek, CEO and President of Plasticon International, Inc.
Based in Las Vegas, SEMCO Distribution, Inc. markets and sells custom surfacing products to high profile commercial, public and private clientele. Their products are noted for aesthetic appeal and durability for use in heavily used walkways, extreme outdoor conditions and in chlorinated pools. Plasticon International, Inc. completed the acquisition of SEMCO Distribution, Inc. in January 2006.
About Plasticon International, Inc.:
Plasticon International (www.plasticonintl.com) designs, produces, and distributes high-quality concrete accessories, informational & directional signage and plastic lumber, which are all produced from recycled and recyclable plastics. Plasticon is a leader, an innovator of cutting edge design, engineering, and production of industrial and commercial products. Plasticon is a green company, environmentally friendly, using recycled plastics to produce its line of products.
This press release contains "forward-looking statements." Forward-looking statements are statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given that such predictions will prove correct. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, our comparatively limited financial resources, and other factors that may adversely impact us. These or other risks could cause actual results to differ materially from the future results indicated or implied in such forward-looking statements. We undertake no obligation to update or revise such statements to reflect events, circumstances, or new information after the date of this press release or to reflect the occurrence of unanticipated or other subsequent events.
To automatically receive instant updates, press releases, and other information on this and other Big Apple Consulting USA companies, please visit www.bigappleconsulting.com/compro.php and download your FREE copy of Big Apple ComPro.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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NNSR (.0078) Completes Preliminary Marketing Assessment of First Product
PR Newswire "US Press Releases "
SANTA CLARA, Calif., Feb. 22 /PRNewswire-FirstCall/ -- NanoSensors, Inc. (OTC Bulletin Board: NNSR.OB), a nanotechnology development company that develops instruments and sensors to detect malicious agents in food and water, announced today that it has completed a preliminary market assessment of the Company's biosensensor that detects e-coli in food and water.
As the Company has previously discussed, its biosensor product consists of two core functional parts. First, the product design incorporates a disposable housing unit in which the actual sensor device is mounted on a secured and sealed platform, and a separate, external data acquisition unit. The Company's business model for this product will utilize the "Razor / Razor Blade" model. The disposable housing unit, which holds the "test strips" that will detect the targeted bacterium, will function as the razor blade while the data acquisition unit, which can be either a desktop computer or a portable PDA-sized unit, is equivalent to the razor.
The two major market segments for the Company's biosensor product is the detection of food-borne e-coli and the water-borne e-coli. According to the Center for Disease Control ("CDC"), 85% of e-coli infections are food borne in origin. In addition, the CDC estimates that for every laboratory-confirmed infection, another 4-8 symptomatic cases are likely missed by current surveillance systems, which means the true economic costs of e.coli infections alone could be as high as $3.24 billion. The United States Department of Agriculture estimated the minimum annual cost of e.coli illnesses in 2005 to be $430 million, including $392 million for premature death, $33 million for medical care, and $5 million in lost productivity.
Two major e.coli outbreaks in 2006 involving tainted produce served at Taco Bell restaurants, and the other involving washed-and-bagged spinach from Natural Selection Foods collectively caused deaths and hundreds of illnesses across 19 states. These outbreaks validated both the Company's strategy and the need to protect the American Consumer.
Based on the Company's research it will focus its attention on how to best position its biosensor product so that it will gain acceptance in the food market, with an emphasis on the fast-food industry. The top 60 restaurant chains have more than 130,000 locations. The "Big Five" -- McDonalds, Subway, KFC, Burger King, and Pizza Hut account for 92,000 of these locations.
Geographically, the Company plans to focus on states with the highest incident rates of food-borne disease outbreaks. According to information from the CDC, states with the highest incident rates were: Florida (224), California (208), Illinois (91), Maryland (63), Michigan (60), and Ohio (104).
The Company's product development roadmap is directed toward the detection of other bacteria such as salmonella and others, which are identified by CDC as harmful to the American Consumer. On average Salmonella sickens 40,000 and kills 600 people a year in the United States. The United States Department of Agriculture estimated the minimum annual cost of illness caused by salmonella bacteria in 2005 to be $2.3 billion, including $2.1 billion for premature death, $181 million for medical care, and $89 million in lost productivity.
Dr. Ted Wong, NanoSensors' Chief Executive Officer, stated, "The completed marketing assessment is extremely valuable to the Company in identifying and quantifying the market opportunities for our biosensor product. This will enable us to focus our product development to address the key issues associated with the fast food industry."
About NanoSensors
NanoSensors, Inc. was incorporated in December 2003 and is a nanotechnology development company based in Santa Clara, California. The Company's principal business is the development, manufacturing and marketing of sensors and instruments to detect explosive (X), chemical (C) and biological (B) agents ("XCB"), along with the management of intellectual property derived there from that will enable NanoSensors to create nanoscale devices.
Safe Harbor
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, and are subject to the safe harbors created thereby. These forward-looking statements involve known and unknown risks, uncertainties and other facts that could cause the actual future results of the Company to be materially different from such forward looking statements. These forward-looking statements are made only as of the date hereof, and we disclaim any obligation to update or revise the information contained in any such forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE NanoSensors, Inc.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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Med Gen Inc. (OTCBB:MGEN), manufacturers of nationally branded OTC healthier life products announced today at a company seminar that its Internet Affiliate programs are a big hit with sites that specialize in building Affiliate Programs. Joanna Hyde, Med Gen Director of Internet Services, announced that Commission Junction(R) had 366 Internet sites that have already applied for the Med Gen programs. "This is a tremendous start for Med Gen," said Ms. Hyde a former Internet Marketing guru at MatchNet.com and Jdate.com. Current data indicate a sign-up trend in excess of 30 applications per day or 10,950 per year. In addition, Med Gen will be featured in the CJ New Advertiser section.
"Our investment in on line sales this past year has already been validated by greatly improved and increased consumer visits to all our product sites," said Paul S. Mitchell, President and Chief Operating Officer. The game plan calls for a blending together of our total marketing initiative. Our marketing forces encompass, Direct to Consumer TV, Print and Radio commercials directing consumers to Call Rooms, Corporate Fulfillment Centers, and our various Internet Sites or landing pages.
"I keep talking about and emphasizing the importance of Market Size," said Paul Kravitz, Chairman & CEO. "Because that's what counts, it makes small companies big. Investors want to invest in companies that have larger than life opportunities. The upside of the risk/reward equation must be substantial."
Yearly Internet business in 2005 was estimated at $50 billion. Our products have a market reach of over $100 billion. 94 million people snore, 110 million people have sleep problems and obesity has grown to catastrophic proportions in the United States. "Translating such dynamics into potential revenue for Med Gen is difficult, but the potential is large, very large," Kravitz said. "What we have done is set ourselves up so that we can take advantage of these large opportunities. And that is what I am reporting today."
About Med Gen Inc.
Med Gen Inc., in business since 1996, manufactures and markets specialty products using its proprietary delivery system Spray's the Way ("STW"). It is best known for producing the world's first patented liquid spray snoring relief formula, Snorenz(R). Since its existence, Med Gen has continued to develop its STW technology, introducing Good Nights Sleep(R) and the UnDiet(R) system into its family of brands. While STW technology is mainly used, the company also produces other products that deal with common health issues using other delivery systems. The company markets its products to distributors, major chain and drug stores, direct sales via the company web site and direct to consumer television, radio and print advertising. The company also distributes its brands internationally under various private labels or existing names.
Med Gen Inc. is a fully reporting company whose stock trades on the OTCBB under the symbol "MGEN". For information contact Investor Relations 561-750-1100 or www.medgen.com.
This Press Release contains or incorporates by reference "forward looking statements including certain information with respect to plans and strategies of Med Gen Inc. For this purpose, any statements contained herein or incorporated herein by references that are not statements of historical fact may be deemed forward looking statements. Without limiting the foregoing, the words "believes", "suggests", "anticipates", "plans", "expects", and similar expressions are intended to identify forward looking statements. There are a number of events or actual results of Med Gen operations that could differ materially from those indicated by such forward looking statements.
Source: Med Gen Inc.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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LYJN (.26) Lines up Retailers for Distribution & Continues to Garner Media Attention
Market Wire "US Press Releases "
LOS ANGELES, CA -- (MARKET WIRE) -- 02/22/07 -- Lyric Jeans, Inc. (PINKSHEETS: LYJN) today announced that its brand Lyric Culture is currently being carried by high-end boutiques throughout the U.S. including Lisa Kline and Diane Merrick in Los Angeles, Hard Rock in Las Vegas, Dress and Romi in San Francisco, Tootsies in Dallas and Houston, Bill Hallman in Atlanta, Octane in Denver and LuLu in Miami. On the heels of a successful promotional campaign with "Music & Lyrics" starring Drew Barrymore and Hugh Grant, retailers who placed orders for "Meaningless Kiss" tees inspired by music from the film are also selling items from the debut collection 'Lyric Culture Revolution,' dedicated to music from the late sixties through the early seventies.
Lyric Culture has offered marketing support to the retailers in the form of promotional partnerships with radio stations such as KIIS-FM and Star 98.7 in Los Angeles who are driving traffic to participating boutiques. In addition, the NBC-TV affiliate station in Miami has been running on-air segments hosted by reporter Maria Salas referencing Lyric Culture tees and jeans.
"This is just the beginning of an incredibly successful selling season," said Kathy Walker, Head of Sales for Lyric Culture. "Buyers are very excited when they see an innovative company like Lyric Culture support their product with marketing campaigns. This company possesses all of the elements to grow into a global lifestyle brand," she continued.
Lyric Culture uses the words of legendary artists in the design of denim and leather jackets, shorts, skirts, corsets, tee shirts and belt buckles. Every item in the collection reflects the personality, style and flare of the artist and song through its design. Lyric Culture honors these artists and their timeless words by fusing high fashion and music in a groundbreaking way, allowing the wearer to express themselves through the words of a classic song -- a modern twist to wearing your heart on your sleeve (and pant leg)!
Included in this release are certain "forward-looking" statements, involving risks and uncertainties, which are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding Lyric Jeans Inc. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending, Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Lyric Jeans Inc. does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.
Contact: Publicity*LyricJeans.com
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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ONGO (.094) Eliminates Island Acquisition Debt Moving Closer to Positive Cash Flow
PR Newswire "US Press Releases "
CONCORD, Ontario, Feb. 22 /PRNewswire-FirstCall/ -- On The Go Technologies Group (OTC Bulletin Board: ONGO; 'OTG' 'the Company'), a leading multi-industry computer hardware, software and systems integrator, announced today that the Company has paid in full the promissory note attached to the acquisition of healthcare and medical diagnostic division Island Corporation.
On January 10, 2006, the Company entered into an agreement to purchase all of the issued and outstanding shares of Island Corporation stock in exchange for CDN $2,311,536. The purchase price was paid in a combination of ONGO common shares, $1,100,000 in cash and a promissory note for $400,000. The promissory note bore no interest and was paid as follows: $100,000 January 2006 and the remaining $300,000 was paid in twelve equal payments starting on March 31, 2006 and continued monthly until paid in full yesterday, over four weeks early.
President and CEO Stuart Turk commented, "As outlined in our most recent update, it's the Company's intention to eliminate outside debt in a quick and efficient manner, and this is certainly true of any internal debt remaining from our acquisitions. The quicker this process is completed, the closer we get to producing positive cash flows."
About On The Go Technologies Group
On The Go Technologies Group is a North American corporation focused on acquiring versatile and profitable companies in the IT sector. OTG and its divisions: OTG Enterprise, catering to Fortune 1000 and SME clientele and vendors such as HP, Apple, IBM, SGI, Extreme Networks and Adobe; OTG Digital Media & OTG Creative, prominent systems integrators in the U.S. and Canadian digital entertainment industry; OTG Healthcare, compiling digital solutions and networks for the diagnostic medical community; OTG Research, providing solutions to the education, funding and research communities; and in-house multimedia studio Go Motion + Design, have established themselves as a respected and sought after industry competitors. The Company's intention is to maintain sustained growth in the years to come via continued organic development in its existing divisions and an aggressive acquisition schedule.
This press release contains forward-looking statements that involve a number of risks and uncertainties. These forward-looking statements contain words such as "expects," "believes," "anticipates" and "intends." Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, economic conditions affecting the B2B environment; continued ability to obtain hardware, software and peripherals at competitive costs; the company's ability to finance its planned expansion efforts; the company's ability to manage its planned growth; and changes in regulations affecting the company's business and such other risks disclosed from time to time in the company's reports filed with the Securities and Exchange Commission. The company does not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in management's expectations, except as required by law.
SOURCE On The Go Technologies Group
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DANS (.02) Announces Definitive Agreement to Sell its Intellectual Property to Iconix Brand Group, Inc.
PR Newswire "US Press Releases "
NEW YORK, Feb. 22 /PRNewswire-FirstCall/ -- Danskin, Inc. (OTC:PK: DANS.PK) ("Danskin" or the "Company") today announced that it has entered into a definitive agreement to sell its Danskin(R) intellectual property, to Iconix Brand Group, Inc. ("Iconix"). The transaction is anticipated to close in March 2007. The transaction is subject to customary closing conditions including clearance under the Hart-Scott-Rodino Anti Trust Improvements Act of 1976 as amended and Danskin stockholder approval.
The purchase price for the transaction will be $70 million with a contingent payment of $15 million, payable in cash or stock, triggered by the brand exceeding certain revenue and performance targets. If paid in Iconix stock and the stock appreciates during the earnout period, or thereafter, the Company could earn up to an additional $7.5 million.
As part of the transaction, Danskin will enter into a license agreement with Iconix to continue to operate the Danskin(R) wholesale business, including its freestanding retail stores and its internet merchant site, Danskin.com.
Donald Schupak, Danskin's Chairman said "The transaction will provide capital for growth of the Danskin(R) wholesale business and, at the same time, monetize its intellectual properties, enhancing opportunities to increase shareholder value. Carol Hochman and her team have done an exceptional job expanding this great brand and implementing a multi-channel distribution strategy in a markedly undercapitalized environment. In addition to providing working capital, Iconix marketing support will help complete the Company's vision for the Brand."
Danskin, Inc. (OTC:PK: DANS.PK) is a 125 year old iconic brand of women's active wear, leg wear, dance wear, yoga apparel and fitness equipment. The brand is sold through better department, specialty and sporting goods stores and through its own freestanding Danskin boutiques and its internet merchant site Danskin.com.
FMNJ (.038) Expanded Pulacayo Due Diligence Is Complete
Market Wire "US Press Releases "
LAS VEGAS, NV -- (MARKET WIRE) -- 02/22/07 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ) President Jaime Melgarejo, Jr. confirms that the expanded analysis of Pulcayo tailings is complete.
Tailings from the Pulacayo mine have been analyzed by The National University of San Agustin of Arequipa, Peru, in consultation with SERGEOTECMIN (Servicio Nacional de Geología y Técnico de Minas, Department of Mines and Metallurgy in Oruro, Bolivia). This analysis -- previously announced on January 18, 2007 -- was part of an expanded due diligence and was made using a much larger sample than had been used in any earlier analysis.
Franklin Mining, Inc. elected to expand the scope of their Pulacayo due diligence to confirm earlier results, which had indicated that minerals were recoverable in greater than expected quantities.
In confirming that the final analysis is complete and that results will soon be made public, Franklin's President, Jaime Melgarejo, Jr, added that the tests -- conducted by a highly respected University in Peru and in cooperation with Bolivia's SERGEOTECMIN -- were made using the same environmentally safe engineering process Franklin Mining, Bolivia, S.A. will use in the recovery of gold and silver from the Pulacayo tailings.
Additional information on Franklin Mining, Inc.'s contract to process tailings at Bolivia's Pulacayo mine is available at www.franklinmining.com. Information on the National University of San Agustin of Arequipa and SERGEOTECMIN is available at their web-sites (www.unsa.edu.pe and www.sergeomin.gov.bo).
KNOS (.017) Reaches Settlement Agreement With HoMedics
Thursday, February 22 2007 8:01 AM, EST
PrimeZone "PrimeZone "
BELMONT, Mass., Feb. 22, 2007 (PRIME NEWSWIRE) -- Kronos Advanced Technologies, Inc. (OTCBB:KNOS) announced it has entered into an agreement to settle its outstanding $3.1 million debt obligation with HoMedics, its former strategic partner in the consumer marketplace, along with the cancellation of a HoMedics warrant to purchase 26.5 million shares of Kronos stock, in exchange for Kronos making a $1 million cash payment within the next 120 days.
"We are pleased to have reached a settlement agreement with HoMedics, which better positions us to aggressively pursue and secure new strategic partners for our stand-alone air purification products in the consumer market place," stated Daniel Dwight, President and Chief Executive Officer of Kronos. "Discussions with potential new partners are currently underway."
Under the terms of the settlement agreement and general release with HoMedics, the license for consumer retail products is returned unencumbered to the Company and the $3.1 million in principal and accrued interest owed to HoMedics has been cancelled contingent upon a cash payment of $1 million to be made within 120 days. Upon receipt of the payment, HoMedics has also agreed to cancel a warrant to purchase 26.5 million shares of Kronos stock, and to modify the terms of their remaining warrants to purchase 13.5 million shares. HoMedics' remaining warrants are exercisable at $0.10 per share with a mandatory exercise at Kronos' discretion should the stock trade at more than $0.20 per share for 20 consecutive trading days. Any Kronos stock that HoMedics acquires upon the exercise of its remaining warrants is subject to volume limitations on sale.
At the same time, the Company said that it does not plan at this time to register any additional shares to Cornell Capital Partners, effectively ending its use of the Cornell Standby Equity Distribution Agreement.
Commenting on the decision to not use the Cornell line of funding at the present time, Mr. Dwight stated, "During the last two years, Cornell played a critical funding role, which enabled Kronos to advance our proprietary technology and to create standalone and embedded product platforms that now allow us to introduce these products to major markets. These further developments of the business have positioned the Company to seek more traditional long term equity and debt financing."
Further details of the settlement can be found in an 8-K filed by the Company February 21, 2007, at www.sec.gov or at www.kronosati.com.
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HLUN (.11) and C.I.C.R.S. Expand Clinical Trial Collaboration Agreement for Commercialization of Adult Stem Cell Therapies
Market Wire "US Press Releases "
COVINA, CA -- (MARKET WIRE) -- 02/22/07 -- Healtheuniverse, Inc. (PINKSHEETS: HLUN), a biotechnology development firm engaged in research, development and commercialization of regenerative medicine therapies utilizing non-embryonic adult stem cells, announced today an expansion of the clinical trial collaboration agreement between Healtheuniverse and The California Institute of Cosmetic and Reconstructive Surgery (C.I.C.R.S.). The strategic alliance is focused on the expansion of both Companies' individual strengths leveraging Healtheuniverse's patented stem cell technology and research and development capabilities, and C.I.C.R.S.'s clinical trial capabilities in a joint effort to commercialize the first non-embryonic stem cell therapy in the field of plastic, reconstructive, and cosmetic surgery.
"Our collaboration with C.I.C.R.S. is another critical component in our global commercialization plans for adult stem cell therapies," stated Dr. Vipul Dev, M.D., Chief Executive Officer of Healtheuniverse, Inc. "Our goal is to offer not only the first stem cell therapy in the field of plastic, reconstructive and cosmetic surgery but to also lead the medical field in commercializing stem cell therapeutic uses in disease related commercial applications."
About The California Institute of Cosmetic and Reconstructive Surgery (C.I.C.R.S.)
Services at The California Institute of Cosmetic & Reconstructive Surgery range from the latest techniques in Cosmetic Surgery to extensive new developments in the field of Reconstructive Surgery. The Institute performs Cosmetic Surgery such as breast augmentation, facelifts, liposuction, and rhinoplasty, as well as extensive Reconstructive Surgery for breast cancer, burn victims, trauma victims, chronic wounds, skin cancer, and hand surgery.
FSNR (.18) Unveils Petrozene Marketing Campaign
Business Wire "US Press Releases "
FAIRFIELD, Texas--(BUSINESS WIRE)--
Freestone Resources, Inc. (FSNR.PK) is proud to unveil the initial marketing campaign for our Petrozene treatment line. Petrozene, formerly called NR206, is a revolutionary product, previously unavailable to the Oil and Gas Industry. Freestone is the exclusive world-wide provider and distributor for this new technology. This product has been thoroughly tested and displayed unparalleled results in solving several key oilfield and refinery problems. The unique performance of Petrozene, combined with our aggressive marketing campaign, will rapidly move this product into the forefront of the Oil and Gas Industry, and quickly generate a new dependable long-term revenue stream for our company.
Petrozene is a unique blend of organic compounds combined with specialized solvents that are designed to prevent and eliminate paraffin buildup. Paraffin buildup is an industry-wide, multi-billion dollar problem that occurs when paraffin crystals within the oil base combine into a waxy buildup. This problem is especially prevalent in cooler climates. The resulting wax constricts production & strains equipment, causing losses from lowered production efficiency and increased maintenance costs. In some cases, the buildup can fully incapacitate oil operations. Petrozene is particularly effective in removing these types of sludge, paraffin and other wax based deposits.
There are many methods for dealing with paraffin buildup in the industry, however none are as clean and cost effective as Petrozene. Unlike other products in the industry, Petrozene is an environmentally friendly, non-contaminating additive. Petrozene facilitates the dispersion of the paraffin crystals, and since it is also a dispersant, it serves to retain the paraffin in the oil phase. Further, treatment with Petrozene requires little or no costly downtime or halt in production. It is simply used as an additive to the oil base, and can be applied at any convenient point in the production process. Tests have shown that Petrozene can optimally be applied to any surface equipment where accumulations of paraffin occur, as well as added into flow lines and down hole. Other specific uses include: removal of tanker sludge during transport, tank bottom cleanup, back washing filters, and to proactively aid in cleanup during well work over operations.
A key use example of Petrozene is its use in oil tankers. During the transport of oil, the tankers accumulate a vast amount of oil waste buildup, which costs millions of dollars in cleanup fees and downtime. This cleanup must be done multiple times a year. Along with the oil, Petrozene can be added to the oil tankers prior to transport and will reduce, even eliminate, the need for such costly cleanups.
Freestone, as well as independent researchers, have put Petrozene through extensive testing and have accumulated a vast amount of technical data that confirms its performance and cost effectiveness. To date, Petrozene has been used in approximately 20 oil storage tanks to aid in the removal and extraction of accumulated tank bottom sludge. With proper application and treatment, these tests have shown Petrozene to be one hundred percent effective in clearing tank bottom sludge and allowing for the sale of previously unusable oil.
Petrozene has also shown unbelievable results in treating shallow oil wells with paraffin restriction in the production tubing or in the perforated formation. After treating over 25 wells, Petrozene has been shown to produce up to 400% increase in oil production in these wells, with an average of a 200% increase in barrels of oil per day per well. The potential market for Petrozene is huge. In the state of Texas alone, there are over 40,000 producing oil wells that could benefit from Petrozene. We expect the future domestic market to be very lucrative, especially due to the recent remarks made by President George W. Bush during the 2007 State of the Union address, calling for the U.S. oil industry to "step up domestic oil production in environmentally sensitive ways" (see State of the Union 2007).
Petrozene is now being actively marketed by authorized sales representatives placed in key markets throughout the United States and abroad. Freestone has recently signed agency agreements for sales agents in California and Texas, and is directly engaging potential clients in Yemen, the United Arab Emirates, and Libya. We are primarily focusing on solutions for tank bottoms, high paraffin oil wells, oil transport and refineries. Our agents have already contacted dozens of potential end-users and have distributed hundreds of gallons of sample product for operational tests and lab analysis.
Freestone Resources has retained a marketing firm to conduct the worldwide campaign for Petrozene. This aggressive campaign begins today with the launch of Petrozene.com. The website, www.petrozene.com, discusses the origins and history of Petrozene, introduces its uses and test data, and allows potential clients to contact sales representatives for consultation and purchase. All interested parties should visit the site to keep up-to-date on details and for sales and product information.
Petrozene is a primary focus for us and we are dedicating significant resources to push this innovative product into new markets. We are anticipating several large orders within the next few weeks, based on positive feedback from our initial test clients. Freestone Resources has been contacted and has had conversations with two of the major oil companies as well as numerous independent oil companies and chemical companies about the product. We expect to have contracts in place with some of these contacts within the next two weeks. At this time, it is premature to make economic projections for the sales of Petrozene, but we anticipate that by fourth quarter 2007 Freestone Resources shareholders should expect to see a substantial net profit from this new and exciting revenue stream.
CPWB (.109) Announces $330,000 in New Orders for High Performance Series
PR Newswire "US Press Releases "
WASHINGTON, Mo., Feb. 22 /PRNewswire-FirstCall/ -- Challenger Powerboats, Inc. (OTC Bulletin Board: CPWB) today announced new boat orders for two Challenger 'go fast' DDC-33s and one Family Performance Series (FPS). The orders are valued aggregately at approximately $330,000.
Challenger CEO Laurie Phillips stated, "Clearly the recent profiles of our performance results in Powerboat and Hot Boat magazines are beginning to have a quantifiable impact on sales. We believe that the value proposition offered by our Challenger high performance 'go fast' DDC and FPS series is second to none in terms of quality, performance and pricing, and look forward to widening the distribution of these product lines
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GLXI (.20) announces partial condensed release of geologic report and disclosing of more claims acquisition as part of February 20th contract
Canada NewsWire "All News "
NEW YORK, Feb. 22 /CNW/ - Globex, Inc. (GLXI: Pink Sheets), today announced that within the agreement signed last February 20th, the Company acquired an additional 94 Uranium Territory Claims.
These territories are located in Historical geologic area of "Greenville" South West Quebec, Canada.
This specific area is currently constituted of gneiss powerfully metamorphosed in 2 formations: "Patribe and Force containing as well Quartz, Feldspath, Blotide and Hornblende.
Within the area, presence of radioactive signs were detected which constitutes the economical boost and concentrations of drilling activities are populating.
As of today the Grenville regional reports indicates an actual number of 0.075%U308 and a possible 544,000 tons in reserve.
In one zone results from samples taken in 12 trenches indicated a value ranging from 0.005 to 0.197%U308. In zone 2, the samples demonstrated a concentration of 1.4%U308.
Management stated: "There was a registration technicality to the agreement that was completed yesterday, and we are now able to proceed next week to a series of registration statements and filings, as the Company intends to accelerate the development phase."
Management also indicated that the current interest for our Company's activities is positive but at no time any advertising was made and the organization did not hire any IR Firms. Due to considerable information inquiries, the Company will use its best efforts to put its Web site on line shortly. "We want our shareholders to receive the information as it becomes available
OXIS (.27) To Submit Promising BioDefense Compounds For Evaluation to Key Government Agencies
Business Wire "US Press Releases "
FOSTER CITY, Calif.--(BUSINESS WIRE)--
OXIS International (OTCBB: OXIS; Nouveau Marche: OXIS) (FWB: OXI), a biopharmaceutical company focused on commercializing predictive biomarkers, clinical assays and nutraceutical and therapeutic products, announced today that it was preparing to submit for evaluation Palosein and Orgotein, two anti-oxidant/anti-inflammatory compounds that have potential clinical use in the treatment of polonium exposure and as a defense against radiation, to the Biomedical Advanced Research and Development Agency (BARDA) within the U.S. Department of Health and Human Services and to Project BioShield for funding. OXIS is also in discussions with pharmaceutical companies regarding licensing of its technology.
BARDA is a newly created agency that would oversee the development of products to fight bioterrorism and infectious diseases. Project BioShield offers funding for research into promising radiation-injury treatments. President Bush last month signed legislation which authorized $1 billion in spending on biodefense over the next three years. The funding would add to the $5.6 billion authorized in 2004 for Project BioShield, the administration's effort to create a national stockpile of products to fight anthrax and other bioterrorist devices.
Palosein (superoxide dismutase) is the Company's proprietary free radical scavenger, which has demonstrated clinical efficacy as a potent anti-inflammatory drug for tendon and ligament injuries, arthritis and disc disease in dogs and horses. The product had been marketed under the brand name Palosein for veterinarian use in the United States. The Company is currently preparing a new formulation for submission to the FDA.
Orgotein (superoxide dismutase) has been marketed in Europe to protect patients undergoing cobalt therapy from radiation toxicity/side effects. In Europe, there have been more than twelve million doses administered to date.
"Since cobalt therapy involves the use of alpha particles to kill tumor cells, we believe that Orgotein has the potential to offer a unique solution to the growing concerns caused by exposure to radiation and polonium poisoning," said Marvin S. Hausman MD, OXIS International's President and CEO. "Since our compound has already been proven to be effective in protecting patients undergoing cobalt therapy from radiation side effects, we believe that we have a unique potential bio-defense treatment that may provide a solution to individuals who have been exposed to polonium or other radioactive toxins. We intend to move aggressively to reintroduce and commercialize the compound for this purpose."
In connection with its commercialization efforts, the Company announced today that it has retained Michael C. Scaife, Ph.D. as a consultant. Dr. Scaife has more than twenty-five years experience in Device, Biotechnology and Pharmaceutical Research and Development and Quality in three European countries as well as the US. He has been directly involved in 15 successful product approvals, including playing a significant role in device development, clinical evaluation and registration in the E.U. and U.S., having had worldwide regulatory and GCP responsibility in Italy and Switzerland covering autoimmune, cardiovascular, dermatologicals, neurology, ophthalmics, as well as cell and gene therapy and biologics product development in the US. His experience included a Senior Vice President position at Chiron Biopharma as Head of Global Regulatory Affairs, Drug Safety and Quality. He also held Vice President positions at Nektar Therapeutics, Elan Pharmaceuticals and Novartis.
PBLS (.019) Announces Program for the Financing and Construction of Affordable Housing
Market Wire "US Press Releases "
MADISONVILLE, LA -- (MARKET WIRE) -- 02/22/07 -- Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) announced an extensive program to finance and construct affordable housing. The Company is addressing this need by commencing to build affordable homes for families located in urban areas, small rural and suburban towns, villages and communities worldwide. These homes will be built singularly or in clusters as the local situation dictates.
The Affordable Houses
The Phoenix affordable homes are of steel construction, pre-fabricated and have approximately 1,200 square feet of living space. This square footage can easily be adjusted upward or downward depending on the need in the area the homes are to be built. Construction costs are dramatically lower than any other type of construction of equal quality. There are several basic models to choose from which are already erected at several sites in the United States.
These affordable homes are hurricane resistant and are currently rated at 150 mph wind load. Additionally, where needed, a heavy duty version of this home is available at a slightly higher cost that has a wind load rating of 250 mph. Also, these units are fire resistant and termite proof, will not shrink, split, warp, swell, rot or corrode, are lightweight and precision engineered with complete design flexibility, have a lower cost than other types of construction and have no weaknesses such as wood with knots which can lead to sudden unexpected failure.
Phoenix will provide faster delivery times and the home are fully guaranteed and copyright protected. Since they are constructed of steel and rust proofed, they will last indefinitely. An additional bonus of these homes is that they are extremely energy efficient. Insulation values in the walls are R-32 and in the ceiling and roof are R-55 rated. Depending on location of the home, this will offer a 30-45% energy reduction on the heating and cooling of the home.
Financing
Mortgage financing will be handled by local banks in the U.S. or governmental agencies abroad. The initial land acquisition and construction financing will be handled by Phoenix. Phoenix has identified and believes that there exists a special demographic of potential investors for this acquisition and construction financing phase. These investors are high net worth individuals such as professional athletes, film and television personalities and other celebrities with high amounts of discretionary income.
All publicity regarding their investment will go to the celebrity. Celebrities have their own public relations people who, we believe, will see an investment by their clients in this affordable housing program as a public benefit. This is a powerful incentive for celebrity investment.
Phoenix is confident that celebrities and/or their financial advisors will view this investment as an excellent opportunity to achieve a far greater than market return on capital.
The vehicle for the construction and sale of these affordable homes is a wholly owned subsidiary of Phoenix.
The First Affordable Homes Project
Phoenix has presented its affordable housing program to the City of Laurel, Mississippi. Phoenix's proposal was met with great enthusiasm by Mayor Melvin Mack and The City of Laurel has a waiting list of more than 600 applicants who fit the profile as purchasers of a Phoenix affordable home.
The Mayor and other city officials have expressed a desire to work with Phoenix in constructing these 600 affordable homes so that their citizens can "participate in the AMERICAN DREAM of home ownership."
Phoenix is working with The City of Laurel to set up liaison with the various city departments to inspect available housing sites and begin construction.
In addition, Phoenix has discussed its affordable homes proposal with several agents of sports and entertainment celebrities. These agents believe this will be beneficial to their celebrity clients with regard to not only publicity, but also financially.
Please direct any inquiries regarding the Phoenix Associates Land Syndicate affordable homes project to Doc Starling 404-983-2070 or Ron Bruce 601-255-4298.
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UTYW (.10) Receives $1.2 Million in New Orders
Market Wire "US Press Releases "
BELLINGHAM, WA -- (MARKET WIRE) -- 02/22/07 -- Unity Wireless Corporation (OTCBB: UTYW), today announced that it has received $1,200,000 in new orders. These new orders originating from the company's rapidly growing South East Asian region include products from Unity's Coverage Enhancement Solutions line.
SCLL (.06) Pluristem Life Systems, Inc. Announces First Licensing Agreement and Stock Swap With Stem Cell Innovations, Inc.
Business Wire "US Press Releases "
NEW YORK--(BUSINESS WIRE)--
Pluristem Life Systems, Inc. (OTCBB:PLRS) (Pluristem) announced today a licensing agreement and stock swap with Stem Cell Innovations, Inc. (OTCBB:SCLL) (Stem Cell) for certain marketing rights of Pluristem's PLX I product in Asia, excluding Japan and 3-D stem cell expansion capability.
The licensing agreement provides Stem Cell with certain rights to Pluristem's PLX I product and 3-D stem cell expansion capability, in exchange for an upfront fee of 23 million shares of Stem Cell's common stock, milestone payments and royalties.
Stem Cell CEO Dr. James Kelly commented, "We are excited with Pluristem's 3-D stem cells expansion capability for use in conjunction with our PluriCell technology. We believe this collaboration will improve our product development capabilities, leading to better solutions for both in vivo and in vitro applications and improve our shareholder value."
"Licensing our products and capabilities is a key event in our commercialization process," stated Mr. Zami Aberman, CEO of Pluristem Life Systems. "Stem Cell's decision to license PLX I for the Asian market, excluding Japan and our 3-D expansion capability is compelling evidence that our products will be developed and sold worldwide. This agreement represents a potential multimillion dollar recurring revenue stream. We believe this collaboration will lead to several synergistic solutions, benefiting million of patients worldwide. Our 3-D technology has numerous applications that we intend to develop with Stem Cell and other companies."
Under the terms of the stock swap, Stem Cell will exchange 27 million shares of Stem Cell's common stock for 66 million shares of Pluristem common stock and five-year warrants to purchase 66 million shares of Pluristem common stock at an exercise price of $.03 per share.
PYCT (.0003) Announces Marketing Plan for March 2007
Market Wire "US Press Releases "
HUNTINGTON BEACH, CA -- (MARKET WIRE) -- 02/22/07 -- PayChest Inc. (PINKSHEETS: PYCT) today provided updates regarding the commencement of the company's Marketing Plan for the remaining part of this financial quarter (ending March 2007).
Our public campaign in the US will include advertising and editorials in major business and community magazines and other publications and performance based client generation programs (internet, commissioned reps, telemarketing, ISO's, etc). This will generate awareness, interest, leads, customers, vendors and more revenue generating joint venture opportunities. The first articles are expected to be published in early March and will be an ongoing process. Celebrity, other prominent business endorsements and TV coverage are expected to commence during second and third quarters of 2007.
PayChest is already in an advanced stage of negotiations with a few prominent US-based partners for our E-commerce solution. These partners will be joining PayChest in a revenue sharing program that can lead to the generation of mutually substantial profits, from their sale of goods and services. PayChest is expected to close the first contracts during March and will continue to attract other bigger players on a similar program.
Management has also started attracting offshore manufacturers, distributors and other offshore portals to join PayChest in a global business venture. PayChest will have its first contract signed within the month of March. We have other similar groups on standby and plan on bringing between one or two major players per country in each of the next two quarters. PayChest will be provisioning its technology infrastructure with local partners in each of these countries. This will lay down the foundation for our joint global infrastructure. This coordinated marketing effort will provide faster and easier expansion within each region or country. We are currently negotiating with partners in South East Asia and China, Parts of Africa, India and Latin America.
Our consumer marketing involves focus and special interest groups with a substantial membership base that we have been negotiating with from the past. The world rewards program will be released during March providing savings, incentives and purchasing power for our consumers, with access to products and services globally.
Mr. Pillay, PayChest's CEO stated, "We are leveraging the resources, products and marketing skills of our strategic partners to create rapid growth and mutual profit sharing opportunities for all of the parties involved. This is the most cost effective way to do business and compete on a global scale. This distribution system provides a win-win relationship for consumers, distributors and local manufacturer partners."
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PANAMERSA Corporation (PNMS) Announces Fourth Quarter Audit Almost Complete Feb 22, 2007 9:16:00 AM DALLAS, TX and PANAMA CITY, PANAMA -- (MARKET WIRE) -- 02/22/07 -- PANAMERSA Corporation (PINKSHEETS: PNMS) in an effort to qualify for the OTCBB will release Audited Fourth Quarter Financials of its off shore companies on March 15th confirming the increases in earnings and cash flow, CEO Mike Terrell announced today.
"We know our numbers are strong and I would like for investors to feel confident in their decision to invest with us as a holdings company," said Terrell. "This audit will confirm the amounts PANAMERSA Corporation holds in the bank, while also putting any questions about earnings released last week to rest."
Fourth quarter earnings for 2006, released earlier this month, show posted net earnings over third quarter 2006 at an increase of 545 percent. Annual revenues rose to $46.4 million and year-end net profits showed $27.4 million. Released numbers also reflect PANAMERSA Corporation's acquisitions producing and receivables current.
All 2006 numbers derived offshore will be certified with financial institutions in Latin America, where PANAMERSA Corporation derived the majority of their profits. Monies that PANAMERSA Corporation holds in Latin America, including a sum of $19,888,475.00 will also be certified.
"I will be in Panama next week to ensure that the numbers we present to our investors are certified and delivered from an unbiased source," said Terrell. "Certified Audit documents will be available on our Web site no later than March 15th 2007."
PANAMERSA Corporation (PINKSHEETS: PNMS) is a holding company for a group of business enterprises which promotes the commercial integration of Latin America into the economic development of the Western Hemisphere. PANAMERSA Corporation is engaged in global e-commerce and e-biz solutions offering interactive e-commerce and e-biz programs in addition to a range of goods and services online including: prepaid Debit cards; e-commerce merchant accounts; life insurance policies, gold transactions; telephony services, text messaging, VoIP, MicroForests properties, real estate investment participations, fixed and variable income real estate properties in Costa Rica and Panama, offshore financial services, asset management and protection; travel services, leisure, business, health, relocation services, and digital marketing services.
Forward-looking statements are not historical facts as "forward-looking statements" defined in the Private Securities Litigation Reform of 1995. Forward-looking statements are not guarantees of future performance. Our forward-looking statements are the result of profound analysis on trends in our globalizing economies that we anticipate in our industry. It is our good faith vision and estimate of the effect on the globalization, integration and electronic business trends will have on our company. Our statements are also subject to risks and uncertainties beyond our reasonable control that could cause the results of operations to differ materially from those reflected in our forward-looking statements.
Contact: Mike Terrell 214-774-4870
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ETIM (.0014) Signs Exclusive Distribution Agreement with Turner Vault Company for Southern Michigan/Southwest Ohio Feb 22, 2007 10:22:00 AM Copyright Business Wire 2007 FARMINGTON HILLS, Mich.--(BUSINESS WIRE)--
Eternal Image, Inc. (OTC:ETIM.PK), a public company engaged in the design, manufacturing and marketing of brand name caskets and urns, today announced that it has signed a distribution agreement with Turner Vault Company based in Northwood, Ohio.
Turner Vault Company will distribute the complete Eternal Image line of licensed image urns and caskets in 20 southern Michigan counties, including the metro-Detroit area, and throughout 20 counties in southwest Ohio, including Toledo.
"We had been aware of Eternal Image within the industry, and then one of our customers, a funeral director, called and asked whether we carried the new licensed image urns," said Steve Turner, president of Turner Vault Company. "That helped prompt us to call Eternal Image and execute this agreement. We believe the entire line, both human and pet products, will do very well in this area."
Turner Vault Company was founded in 1929. It expanded in the 1970s to offer caskets, then in 1980 to provide crematory services. Last year the company opened a pet cremation division known as Everlasting Companion Services (www.ECSforPets.com). President Steve Turner is a third-generation business owner. The company is also a distributor for Wilbert Inc. and TerryBear Urns.
"Turner serves a very important corridor with millions of residents," said Clint Mytych, president, Eternal Image. "They are well-placed to guarantee distribution of all of our lines, and we look forward to working with them as we grow."
About Eternal Image
Eternal Image, founded in 2002, is headquartered in Farmington Hills, MI. The company is the first and only manufacturer and marketer of licensed brand image funerary products. Currently, the company offers urns and caskets that feature licensed images from Major League Baseball(TM), Precious Moments(R) and the Vatican Library Collection(TM), as well as pet urns featuring the American Kennel Club(TM) and the Cat Fanciers' Association(TM). For more information about EI, visit www.eternalimage.net or call 1-888-6-CASKET.
SAFE HARBOR STATEMENT
Statements in this news release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may", "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential" or "continue" or similar terms or the negative of these terms.
Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
Source: Eternal Image, Inc.
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-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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posted
ACMG (.11) Announces Details of Acquisition Offer by the South East Asia Consortium, Named Siam Renewable Energy Group Ltd.
Market Wire "US Press Releases "
MONTREAL -- (MARKET WIRE) -- 02/22/07 -- Alcar Chemicals Group Inc. (PINKSHEETS: ACMG) announces today the details contained in the Letter of Intent for the acquisition of a controlling interest by Siam Renewable Energy Group Ltd, signed in Thailand by the companies on February 16, 2007.
According to the company, the LOI contains the finalized terms and conditions for the gradual acquisition of 55% of the company by Siam Renewable Energy Group Ltd. in exchange for the investment required to build the company's initial polyol plant in Canada to fulfill its existing $160 million contractual commitments and to implement a minimum of four full scale ethanol plants with a projected capacity of 1M gal per day each.
The LOI includes milestones involving the investment, disbursements of funds, construction of the plants as well as provisions for the return to Dr Cavasin of his shares now held in escrow and the coinciding issuance of restricted shares to Siam Renewable Energy Group Ltd.
The company stated that the agreement specifies an initial investment by Siam Renewable Energy Group Ltd of $7.2 million dollars to complete the company's Canadian plant and scale up engineering.
The initial investment will be made in the form of a convertible loan, which can be converted at a price of $1.00 per share for a total of 7.2 million shares carrying a two year restriction. Under the convertible loan, no payment on principal and or interest will be required for a period of 24 months and the loan will automatically convert upon the completion of the Canadian plant and scale up engineering.
In addition, Siam Renewable Energy Group Ltd. is granted 7.2 million purchase warrants on each of the four following years for which the exercise prices are shown in the table below. Siam Renewable Energy Group Ltd will receive Dr Cavasin's 68 million shares now placed in escrow as security to the convertible loan and said shares will be returned to him over the next four year period as milestones towards the implementation of the four ethanol plants are met.
The total investment planned as per the letter of intent is $282 million, which includes the financing of the first of four ethanol plants to be constructed by Alcar.
The issuance of a proportional amount of restricted shares to Siam Renewable Energy Group Ltd will reflect the final structure under which Siam Renewable Energy Group Ltd will own 55% of the company's outstanding shares, which will coincide with each milestone related to the release of Dr Cavasin's shares.
The following table demonstrates how the overall value of $2.05 per share is calculated with the structure agreed upon under this agreement.
Present 2008 2009 2010 2011 PPS paid (investment + warrants) $1 $1.5 $3.5 $5 $10 Total Net Projected Investment $282M Total amount of shares acquired 36M shares Total amount of shares to be issued 101.5M shares Final share count held by investor 137.5M shares Overall consideration paid per share $2.05 Supporting calculus 282/137.5=2.05
Table: Projected investment structure and value.
The company anticipates the initial trench of investment funds will shortly be placed in escrow and that a definite agreement reflecting the terms and conditions outlined in the LOI will be signed within the next few weeks.
About Siam Renewable Energy Group Ltd.
The Siam Renewable Energy Group Ltd. is a privately owned corporation formed by an environmentally conscious consortium of technology funds, private investors and venture capitalists to implement renewable solutions across South East Asia by filling the constantly increasing demand for energy with environmentally sound technologies such as the one offered by Alcar.
About The Alcar Group
The Alcar Chemicals Group (PINKSHEETS: ACMG) represents a significant market opportunity due to a serious worldwide supply shortage of raw materials for polymers as well as an increased requirement for ethanol and biodiesel. ACMG has been concentrating on innovative methods for biomass (forestry waste, agricultural waste and non-food crop) valorization for the past decade, specifically petroleum-independent fuel and plastics resin production. Its proprietary technology represents today's most economical and advanced manufacturing process for plastic raw materials, ethanol and bio-diesel, allowing production at cost savings of up to 40% when compared to current production methods.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
Investor Contact: Steven Sung IR*alcarchemicalsgroup.com
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Danskin, Inc. Announces Definitive Agreement to Sell its Intellectual Property to Iconix Brand Group, Inc.
NEW YORK, Feb 22, 2007 /PRNewswire-FirstCall via COMTEX/ -- Danskin, Inc. (OTC:PK: DANS.PK) ("Danskin" or the "Company") today announced that it has entered into a definitive agreement to sell its Danskin(R) intellectual property, to Iconix Brand Group, Inc. ("Iconix"). The transaction is anticipated to close in March 2007. The transaction is subject to customary closing conditions including clearance under the Hart-Scott-Rodino Anti Trust Improvements Act of 1976 as amended and Danskin stockholder approval. The purchase price for the transaction will be $70 million with a contingent payment of $15 million, payable in cash or stock, triggered by the brand exceeding certain revenue and performance targets. If paid in Iconix stock and the stock appreciates during the earnout period, or thereafter, the Company could earn up to an additional $7.5 million.
As part of the transaction, Danskin will enter into a license agreement with Iconix to continue to operate the Danskin(R) wholesale business, including its freestanding retail stores and its internet merchant site, Danskin.com.
Donald Schupak, Danskin's Chairman said "The transaction will provide capital for growth of the Danskin(R) wholesale business and, at the same time, monetize its intellectual properties, enhancing opportunities to increase shareholder value. Carol Hochman and her team have done an exceptional job expanding this great brand and implementing a multi-channel distribution strategy in a markedly undercapitalized environment. In addition to providing working capital, Iconix marketing support will help complete the Company's vision for the Brand."
Danskin, Inc. (OTC:PK: DANS.PK) is a 125 year old iconic brand of women's active wear, leg wear, dance wear, yoga apparel and fitness equipment. The brand is sold through better department, specialty and sporting goods stores and through its own freestanding Danskin boutiques and its internet merchant site Danskin.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. The statements that are not historical facts contained in this press release are forward looking statements that involve a number of known and unknown risks, uncertainties and other factors, all of which are difficult or impossible to predict and many of which are beyond the control of the Company, 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. Such factors include, but are not limited to, uncertainty regarding the results of the Company's acquisition of additional licenses, continued market acceptance of current products and the ability to successfully develop and market new products particularly in light of rapidly changing fashion trends, the impact of supply and manufacturing constraints or difficulties relating to the Company's licensees' dependence on foreign manufacturers and suppliers, uncertainties relating to customer plans and commitments, the ability of licensees to successfully market and sell branded products, competition, uncertainties relating to economic conditions in the markets in which the Company operates, the ability to hire and retain key personnel, the ability to obtain capital if required, the risks of litigation and regulatory proceedings, the risks of uncertainty of trademark protection, the uncertainty of marketing and licensing acquired trademarks and other risks detailed in the Company's SEC filings. The words "believe", "anticipate," "expect", "confident", "project", provide "guidance" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward looking statements, which speak only as of the date the statement was made.
Contact: John A. Sarto Executive Vice-President and Chief Financial Officer Danskin, Inc. 212-764-4630
Margaret B. Pritchard SVP Business Development, General Counsel and Secretary Danskin, Inc. 212-764-4630
SOURCE Danskin, Inc.
CONTACT: John A. Sarto, Executive Vice-President and Chief Financial Officer, or Margaret B. Pritchard SVP Business Development, General Counsel and Secretary both of Danskin, Inc., +1-212-764-4630
Copyright (C) 2007 PR Newswire. All rights reserved
********************************************************************** As of Sunday, 02-18-2007 23:59, the latest Comtex SmarTrend(SM) Alert, an automated pattern recognition system, indicated an UPTREND on 12-01-2006 for ICON * $18.37.
For more information on Comtex SmarTrend? Alert, contact your market data provider or go to www.CSTADirect.com
SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright ? 2004-2007 Comtex News Network, Inc. All rights reserved.
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KEYWORD: New York INDUSTRY KEYWORD: FAS REA HOU SUBJECT CODE: TNM
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PRVH (.094) Signs Agreement to Take Horsepower & Chrome Public
Market Wire "US Press Releases "
LOS ANGELES, CA -- (MARKET WIRE) -- 02/22/07 -- Providential Holdings, Inc. (OTCBB: PRVH) (German Stock Exchanges: PR7, WKN 935160), a company providing international advisory services specializing in mergers and acquisitions and investing in the rapidly growing economies in Vietnam and Asia, announced today a definitive agreement to arrange for initial funding and take California-based Horsepower & Chrome LLC, public in the United States. In exchange for its services Providential Holdings will receive stock in the company. The company posted revenues of $1.7 million last year and is currently projecting $7 million in revenues for the next 12-months, fueled by an aggressive national and international expansion plan.
Horsepower & Chrome is a leading U.S. motorcycle and lifestyle company manufacturing American V-twin Cruisers, Choppers, Bobbers, Customs and accessories, operating under the Von Dutch Kustom Cycle brand since 2003. Retail and distribution outlets are rapidly growing worldwide, with various sites throughout the United States in Caesar's Palace in Las Vegas, as well as in Arizona, California, Delaware, New Jersey, New York, Ohio and Virginia. The company has branched out at international locations including Calgary, Airdrie and Edmonton, Canada; Moscow, Russia and in the United Emirates in Dubai.
In addition to its core business, the company designs, produces and sells customized motorcycle parts, tools, apparel, art and home décor branded to the Von Dutch lifestyle. Von Dutch is the professional name of the late Kenneth Howard, California's legendary hot-rod "Kustom Kulture" king, credited with being the first to pinstripe and paint flames on cars and motorcycles in the 40's and 50's.
Horsepower & Chrome CEO Alex Mardikian said, "Becoming publicly-traded is a monumental step for our company. With the help of Providential Holdings, we will be able to add more products and increase our market presence in an artistic celebration of America's rock & roll, hot rod and motorcycle past. 'Kustom kulture' dictates an open road and creativity leading to a statement of individualism. Our goal is to become a world-leading 'kustom kulture lifestyle' company, manufacturing high profile products specialized in style and design."
Providential Chairman and CEO Henry Fahman said, "Going public will provide Horsepower & Chrome with access to capital funding for further growth and will provide investors with an excellent opportunity to participate in a specialized industry with a recognizable brand name."
About Horsepower & Chrome LLC
Horsepower & Chrome is a leading U.S. custom motorcycle manufacturer and lifestyle brand producing American V-twin Cruisers, Choppers, Bobbers, Customs and accessories, including apparel, art, home décor and memorabilia. It operates under the Von Dutch Kustom Cycle brand. Horsepower & Chrome is located in California, with merchandise sold worldwide. Von Dutch Kustom Cycle motorcycles meet Federal Motorcycle Vehicle Safety Standards and are DOT / EPA compliant. They are listed in the Kelly Blue Book and the N.A.D.A Blue Book and have a two-year aftermarket warranty hub-to-hub. For more information visit www.vondutchkustomcycles.com.
About Providential Holdings, Inc.
Providential Holdings and its subsidiaries engage in a number of diverse business activities, the most important of which are M&A advisory services and independent energy. The company acquires and consolidates special opportunities in selective high-growth industries to create additional value, acts as an incubator for emerging companies and technologies, and provides financial consultancy and M&A advisory services to U.S. and foreign companies. For more information on Providential Holdings and its subsidiaries, visit http://www.phiglobal.com. As part of its activities in Vietnam, Providential has been hosting seminars in conjunction with the Nasdaq Stock Market, the Vietnamese Chamber of Commerce and Industry and a leading U.S. investment-banking firm to help Vietnamese companies go public and raise capital through the U.S. financial markets.
Safe Harbor: This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.
Investor Relations Contact: Hawk Associates, Inc. Frank N. Hawkins, Jr. or Julie Marshall Phone: (305) 451-1888 Email: Email Contact
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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PTSC Patriot Scientific Corporation Announces Cash Dividend and Future Semi-Annual Dividend Policy Company Repeats its Precedent-Setting Action Among Microcaps Feb 22, 2007 3:10:00 PM
CARLSBAD, Calif., Feb. 22 /PRNewswire-FirstCall/ -- Patriot Scientific Corporation (OTC Bulletin Board: PTSC) today announced that it will issue a cash dividend of $0.02 per share of common stock for shareholders and qualified warrant holders of record as of March 6, 2007. The dividend is payable April 9, 2007.
This dramatic action follows closely on the heels of the company's recent announcements that two more global manufacturers, NEC Corporation and Funai Electric, have purchased licenses for the jointly owned Moore Microprocessor Patent(TM) (MMP) Portfolio. Patriot Scientific and The TPL Group are co-owners of the MMP Portfolio, which Alliacense, a TPL Group enterprise, exclusively manages.
"We want our shareholders to participate in our share of the revenues generated by our jointly owned MMP Patent Portfolio," said David Pohl, chairman and CEO of Patriot Scientific Corporation. "In furtherance of this philosophy, our board of directors has now adopted a policy of paying a dividend every six months, subject each time to a determination by the board that payment of a dividend would then be reasonable and prudent in light of the financial condition of the company, other possible applications of the company's available resources, and relevant business considerations," Pohl stated.
Patriot Scientific invested millions of dollars and hundreds of thousands of man-hours over 12 years or more developing and bringing to market products based upon the company's intellectual property, including IP contained in the MMP Portfolio. "Patriot's board of directors decided in June 2005 to shift our primary business model from manufacturing and marketing products to a model currently focused on licensing our joint venture patent portfolio," said Pohl. "This dividend payment, which is rare in the arena of microcap companies, is another important step evidencing the fact that the board and management firmly believe in the company's future potential."
He noted that HP, Casio, Fujitsu, Sony, Nikon, Seiko Epson, Pentax, Olympus, Kenwood, Agilent, Lexmark, Schneider Electric, NEC Corporation and Funai Electric have purchased MMP Portfolio licenses in the past 13 months. Intel and AMD are also licensees. The MMP portfolio generated over $108 million in total license fees for the joint venture as a result of licenses signed in 2006. After allocation for expenses, the distributive share received by Patriot Scientific from the total license fees was over $48 million.
"We have already embarked upon our plan for the future of Patriot Scientific by seeking and evaluating opportunities to add to and diversify our revenue stream by acquiring other companies and technologies, entering into joint ventures, developing and marketing new proprietary products or technologies, or a combination of any of those alternatives," Pohl continued, "always pointed toward the goal of increasing the financial position and strength of the company and providing value to our shareholders."
A letter issued by Pohl as CEO of Patriot Scientific is being posted Friday on the company's web site at www.ptsc.com. The letter summarizes significant developments of 2006 and provides an update on recent events of interest to shareholders. The company also announced plans to hold an annual shareholders meeting April 27, 2007, in Carlsbad, California. Details will be announced soon and proxy materials will be mailed to shareholders.
About Patriot Scientific
Patriot Scientific is a leading intellectual property licensing company that develops, markets and enables innovative technologies to address the demands in fast-growing markets such as wireless devices, smart cards, home appliances and gateways, set-top boxes, entertainment technology, automotive telematics, biomedical devices and industrial controllers. Headquartered in Carlsbad, Calif., information about the company can be found at http://www.ptsc.com.
The patent portfolio, marketed as the Moore Microprocessor Patent(TM) Portfolio, is jointly owned by the publicly held Patriot Scientific Corporation and the privately held TPL Group. The portfolio encompasses seven U.S. patents as well as their European and Japanese counterparts fundamental to the design of modern microprocessors, microcontrollers, Digital Signal Processors (DSPs), embedded processors and System-on-Chip (SoC) implementations.
About Alliacense
Alliacense is a TPL Group Enterprise executing best-in-class design and implementation of Intellectual Property (IP) licensing programs. As a cadre of IP licensing strategists, technology experts, and experienced business development /management executives, Alliacense focuses on expanding the awareness and value of TPL's IP portfolios. Founded in 1988, The TPL Group has emerged as a global coalition of high technology enterprises involved in the development, management and commercialization of IP assets as well as the design, manufacture and sales of proprietary products based on these same IP assets. For more information, visit www.alliacense.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the products markets, variations in the company's cash flow, market acceptance risks, patent litigation, technical development risks, seasonality and other risk factors detailed in the company's Securities and Exchange Commission filings.
Moore Microprocessor Patent (MMP) and Alliacense are trademarks of Technology Properties Limited (TPL). PTSC and Ignite are trademarks of Patriot Scientific Corporation. All other trademarks belong to their respective owners.
CONTACTS:
Patriot Investor Relations: Hawk Associates, Frank Hawkins or Ken AuYeung (305) 451-1888 info*hawkassociates.com
Patriot Media Relations: The Hoffman Agency, John Radewagen (408) 975-3005 jradewagen*hoffman.com
SOURCE Patriot Scientific Corporation
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Patriot Investor Relations: Frank Hawkins or Ken AuYeung both of Hawk Associates +1-305-451-1888 info*hawkassociates.com; or Patriot Media Relations: John Radewagen of The Hoffman Agency +1-408-975-3005 jradewagen*hoffman.com
Posts: 3255 | From: Los Angeles California | Registered: Jan 2006
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