Pocketop Corp. Is Debt Free With Assets Only! Monday March 12, 3:30 pm ET
Pocketop Corp. Explains Balance Sheet
DOVER, DE--(MARKET WIRE)--Mar 12, 2007 -- Pocketop Corp. (Other OTC:PKTO.PK - News) today clarified its Balance Sheet to counter any speculation by its new shareholders. The company explained that although millions have been spent on development and sales to date the secured creditors and Cyberhand Technologies International Inc. have agreed to create a new debt free entity that would start with only assets on the balance sheet and no debt whatsoever. Tangible assets in hardware, inventory, designs, patents, trademarks and parts totaling hundreds of thousands of dollars and the investment credit for the millions more that was spent were simply placed in the new company. The new Pocketop Corp. will have all it needs to produce new products on time and on budget regardless of the complexity and feature set. It has also been agreed that Cyberhand Technologies International Inc. will provide its existing design files at no charge and to use its design studios and software group at a preferred rate unmatchable in the industry to speed production. ADVERTISEMENT
"We have no debt, plenty of assets and millions already spent to help us," commented Nino Caldarola, President and Chief Executive, Pocketop Corp. "No debt, assets, superior designs ready to go, proven manufacturing expertise on tap and a team ready to go with little overhead to worry about. We are going to be a hard to beat technology provider with a price point unmatched in the industry. If you thought we were hard to beat in the past, come and try our new products and enjoy what a debt free working environment brings to the market. We will be delivering the world's best products at the industry's best price and offering service no one can even hope to touch," stated Nino Caldarola.
About Pocketop Corp.
Pocketop Corp is a leader in the design, manufacture and marketing of solutions for the mobile handheld device market. Pocketop Corp.'s initial product will have far more features than the previous best selling Pocketop Original Keyboard which was the first and wireless, portable, folding keyboard for the PDA market and the first to offer device compatibility with all major brands of PDA's. The new state of the art keyboard is half the volume and weight of competing products and has traditional keyboard touch-type functionality with an expanded line of user features. In addition to its core line of keyboards the Company has expended its line of products to include a vast array of compatible accessories. The primary objective of the merger is to maximize the shareholder value to all of the PKTO shareholders.
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended; such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operations to vary significantly from those in prior periods, and those projected in forward-looking statements. Information with respect to these factors which could materially affect the Company and its operations are included on certain forms the Company files with the Securities and Exchange Commission.
Distributed by Filing Services Canada and retransmitted by Market Wire
JMCP) Additional Information on Joint Venture for Enhanced Oil Recovery of Stripper Wells
Pink Sheet: JMCP, Jun 08, 2007 (M2 PRESSWIRE via COMTEX) -- Mr. Frank Love, President of James Monroe Capital, is pleased to provide additional information on a Joint Venture for the enhanced oil recovery of Stripper Wells.
Mr. Love states, "We signed this joint venture about a month ago. The joint venture partner wants to remain anonymous for now since they are in the process of purchasing stripper wells for both parties involved. Once this purchase of stripper wells is complete we will add our enhanced oil-recovery techniques enabling more oil production from the existing wells."
Mr. Love is also happy to state, "Once this purchasing process of wells is complete James Monroe Capital Corp. should have an immediate cash-flow for our company in a relatively short time frame."
Stripper wells, often known as marginal wells before 1960, often produce less than 10 barrels per day. However, they are economic necessity for the United States since they produce more than 17% of all the oil produced onshore in this country.
Existing Oil Fields
The existing, mature oil fields that will be acquired and then the enhancement process added will result in increased production ranging from 300% to 1000%. The portfolio of oil properties that can be acquired will provide ample opportunities for us to apply our techniques. We anticipate getting interest from other owners of stripper-wells once our success is documented.
Mr. Love states, "I will be announcing details once the stripper wells have been acquired and our Joint Venture Partner gives us permission to reveal their identity".
About James Monroe Capital Corporation
James Monroe Capital Corporation is a publicly traded holding company (symbol JMCP) that focuses on acquisitions, start-ups and oil ventures around the globe. The company solicits purchase contracts in the oil sector for stable income to build shareholder value. These efforts are "opportunistic and time-sensitive deals" often involving distressed situations where other parties have something very valuable they are about to lose entirely or economically not practical for larger companies. These are the type of acquisitions or buyouts JMCP will soon be announcing to its shareholders. Over the next 3 to 12 months JMCP shareholders will experience a totally remade James Monroe Capital Corporation focused in the Oil sector, Gold sector and Uranium sector.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info*m2.com.