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Author Topic: PR for AFTREHOURS and FRIDAY MARCH 16tH
J_U_ICE
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CKYS(.0007) Own Internal Investigation Uncovers Improper Accounting and Reporting Practices as Investigation Continues by the Securities and Exchange Commission
Mar 15, 2007 8:44:00 PM
ST. GEORGE, UT -- (MARKET WIRE) -- 03/15/07 -- CyberKey Solutions, Inc. (PINKSHEETS: CKYS) announced today that initial results of an internal investigation indicate that a certain company official has utilized improper accounting methods and reporting procedures while handling critical company contracts. CyberKey's accounting and reporting of certain matters may be in violation of the practices governed under securities laws.

Numerous material errors have been recently discovered regarding the Company's accounting for revenues received and accounts receivable generated, and corresponding payables made, pursuant to the fulfillment of a third party contract which the Company reported last year to have been secured with the Department of Homeland Security (DHS). In November 2006, the Company began to discover information which indicated that this contract was not directly with DHS but instead with a third party distributor that was representing it was having the Cyberkey products delivered directly to DHS facilities in different locations. The Company has discovered that none of the products supposedly sold to this third party distributor had been delivered to DHS as had been represented repeatedly during 2006. And, it appears that none of the revenues from this contract ever were realized by the Company since this third party distributor apparently circumvented the Company's relationship with its manufacturer in China and secured direct payment and delivery of the Cyberkey products without paying Cyberkey anything. This contract represented the then-reported core revenue stream of in excess of $20,000,000 for the Company for 2006, and a corresponding operating profit exceeding $12,000,000.

As of last week, CyberKey's comptroller notified the company's attorney that the financial statements for the last five quarters could not be relied upon as she had improperly entered financial data into the accounting system and had forged critical documents and other material information. She was removed from her position last week.

CyberKey has engaged an independent certified public accountant firm to undertake a comprehensive audit of its financial statements for the past 3 years. All financial matters will be audited and fully reportable when complete.

"I am deeply troubled by the findings related to the accounting practices of our company," stated Jim Plant, CEO and President of CyberKey Solution. "I apologize to our shareholders and the investment community for these problems, which happened on my watch but without my knowledge. I am fully committed to resolving all remaining issues as quickly as possible and to putting the proper remedial measures in place to ensure that this never happens again. We will be releasing corrected financial statements as soon as practicable. We will be updating the investors through our website as more information becomes available."

The company has announced that it is working diligently to develop new contracts with various government agencies and has not changed any of its operational activities, highlighted by its participation at FOSE 2007 booth number 1617 on March 20-22, 2007, in Washington D.C... CyberKey plans to showcase its latest products and solutions to thousands of Federal, State and Department of Defense Agencies -- and will provide interested buyers with a means of initiating government purchases directly from the EXPO via the Department of Defense Emall and directly with the company's GSA partner "Alpha Data Corporation," that will be present at CyberKey's display at the Expo.

About CyberKey Solutions, Inc.:

CyberKey Solutions, Inc., based in St. George, Utah, partners with industry leading manufacturers and distributors to deliver secure USB drive-based solutions to vertical markets and content owners, service providers and resellers. CyberKey's solutions solve real world issues in the entertainment, education, government, military, automotive, financial services and medical industries. CyberKey Solutions' technologies allow users to securely transfer large amounts of data, files and applications software from one electronic device to another while employing a patent pending USB-based Digital Rights Management process. CyberKey's solutions create new opportunities for existing industries and applications. For more information, please visit their website at www.cyberkeysolutions.com.

Statements contained in this news release, other than those identifying historical facts, constitute 'forward-looking statements' within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.

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.

Contact:
Investor Relations
1-866-THE-APPL(E)
http://www.cyberkeysolutions.com

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The difference between genius and stupidity is that genius has its limits

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DPDW (.23) Releases Audited Financial Results

PR Newswire "US Press Releases "

HOUSTON, March 15 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW) has filed an amended Form 8-K with the United States Securities and Exchange Commission ("SEC") disclosing audited financial results for the fiscal years ending December 31, 2004, and 2005, and unaudited financial results for the nine-month periods ending September 30, 2005, and 2006.

The results show total revenue increased approximately 44.5% from $3.75 million for the fiscal year ending December 31, 2004, to $5.42 million for the fiscal year ending December 31, 2005. Revenue growth continued to accelerate thereafter. For the nine months ending September 30, 2006, revenue increased approximately 72.9% to $6.28 million as compared to $3.63 million for the nine months ending September 30, 2005. Net income increased approximately 47.6% to $690,733 for the nine months ending September 30, 2006, as compared to $467,967 for the nine months ending September 30, 2005. Earnings before interest, depreciation, amortization, and taxes increased approximately 33.5% to $995,698 for the nine months ending September 30, 2006, as compared to $745,610 for the nine months ending September 30, 2005.

"We are pleased to release these historical financial results in audited form. Our next financial report will be included in the 10-K annual report and will reflect audited financial results for the fiscal year ending December 31, 2006," commented John Siedhoff, Deep Down's chief financial officer.

"With the reverse merger completed, I look forward to facilitating our corporate growth, both organically and through our stated plan of consolidating offshore oil and gas industry and marine service providers, with acquisitions we feel are lucrative and complementary to our current operations," commented Ron Smith, Deep Down's chief executive officer. "One of our near-term growth objectives is to complete the acquisition of ElectroWave USA, and begin to integrate its operations and products while leveraging its established industry presence."

First announced on January 22, 2007, Deep Down is currently in the due- diligence phase of the acquisition of ElectroWave USA, an electronic monitoring and control systems development company operating in the energy, military, and commercial business sectors. Upon completion of favorable due- diligence, Deep Down intends to complete the acquisition.

About ElectroWave

ElectroWave offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems. ElectroWave's customers include Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, VT Halter, Atlantic Marine, New York City Department of Transportation, and others. ElectroWave's equipment is installed on some of the latest generation United States Coast Guard and United States Navy vessels. Current systems are in operation in the following areas: United States Gulf of Mexico, the North Sea, Baku, Vietnam, Singapore, Nigeria, Equatorial Guinea, Cameroon, Angola, India, Egypt, the United Kingdom, Russia, Brazil, Australia, Indonesia, and the Middle East. For further company information, please visit http://www.electrowaveusa.com .

About Deep Down, Inc.

Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company also fabricates component parts for subsea distribution systems and assemblies that specialize in the development of offshore subsea fields and tie backs. These items include umbilicals, flowlines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The company's strategy is to consolidate service providers to the offshore industry, and designers and manufacturers of subsea, surface, and offshore rig equipment used by major integrated, large independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com .

One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.

SOURCE Deep Down, Inc.

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The difference between genius and stupidity is that genius has its limits

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SKML (.25) Enters Into Joint Venture; Scantek Medical to Sell Distribution License

PrimeZone "PrimeZone "

CEDAR KNOLLS, N.J., March 15, 2007 (PRIME NEWSWIRE) -- Scantek Medical, Inc. (Pink Sheets:SKML) announced today that it created a limited liability company, Gibraltar Global Marketing LLC ("Gibraltar"), through which it will engage in a joint venture (the "Joint Venture") with Life Medical Technologies, Inc. ("Life Medical"). Gibraltar was organized to distribute Scantek's BreastCare(tm)/BreastAlert(tm) Differential Temperature Sensor product ("BreastCare") in more than 150 countries throughout the world.

In connection with the Joint Venture, Scantek has entered into three agreements with Life Medical: (A) an acquisition agreement (the "Acquisition Agreement"), pursuant to which Life Medical shall pay Scantek $5,000,000 (the "Gibraltar Purchase Price") in exchange for a 50% voting interest and 48% ownership interest in Gibraltar, (B) an operating agreement (the "Operating Agreement"), which sets forth the rights and responsibilities of Scantek and Life Medical with respect to Gibraltar, and (C) a distribution agreement granting Gibraltar exclusive distribution rights for BreastCare in more than 150 countries throughout the world.

The Gibraltar Purchase Price shall be paid to Scantek as follows: (a) $250,000 which was paid by Life Medical upon entering into the Operating Agreement, (b) a payment by Life Medical to Scantek from Life Medical's share of Gibraltar's distributions equal to 25% of Gibraltar's total distribution, and (c) a percentage of the funds received by Life Medical from offerings of its securities as follows: 20% of monies raised by Life Medical in its next private placement financing, and 30% of monies raised by Life Medical in financings subsequent to the termination of such private placement financing ("Subsequent Financings"); provided, however, that such payments from Subsequent Financings shall not commence until Life Medical has paid Scantek the amount due for United States distribution rights (regardless of whether or not the option for such rights ("US Option") is exercised) pursuant to the amendment dated as of the 7th day of March, 2007 (the "Amendment") of the Agreement by and between Scantek Medical, Inc. ("Scantek") and Life Medical Technologies Inc. ("Life Medical"), dated the 22nd day of August, 2006, which Agreement amended and restated the agreement (the "Definitive Agreement") between Scantek and Life Medical dated as of the 3rd day of December 2004, and the distribution agreement attached thereto and made a part thereof ("Life Medical Distribution Agreement"), which would be entered into by Scantek and Life Medical upon the execution of the US Option.

The Amendment sets forth new payment terms for the $900,000 balance of the purchase price for Life Medical's US exclusive distribution license ("US License Fee") pursuant to the Life Medical Distribution Agreement. The balance of the US License Fee would be paid in seven equal monthly installments commencing 30 days after Life Medical's notification that it is exercising the US Option. If Life Medical raises any funds from its next private placement financing, 20% of the funds raised will be paid to Scantek, and 30% of the funds raised from any Subsequent Financings will be paid to Scantek until either the US License Fee is paid in full or, if the US Option is not exercised, Scantek has received an amount from Life Medical equivalent to the US License Fee in consideration of receiving the US Option.

The Amendment also sets forth new terms and conditions if the US Option is exercised. If the US Option is exercised, Scantek agrees to reserve 40% of the output from its two existing production lines for Life Medical, both for Life Medical's current orders and for an inventory of up to 1,000,000 units of BreastCare, provided that Life Medical pays for the space to store 1,000,000 units of BreastCare and that Life Medical makes a down payment of $4 either (1) at the time of the order for each unit or (2) at the time a unit is placed in inventory. Life Medical will pay the remainder of the price of each unit ordered within 90 days after shipment; provided, however, that if the aggregate unpaid balance with respect to units ordered by Life Medical is $1,000,000 or greater, Life Medical must pay in full for all additional orders at the time of the order until the unpaid balance is reduced below $1,000,000. Life Medical also agreed that if it obtains 510(k) marketing clearance and/or clearance for over-the-counter sales ("OTC Clearance") from the Food & Drug Administration, it will assign such 510(k) marketing clearance and/or OTC Clearance, as the case may be, to Scantek.

Scantek and Life Medical also entered into a letter agreement which gives Life Medical the option to acquire an interest in a limited liability company (the "LLC") which would own the worldwide distribution rights for devices being developed by Scantek to screen for prostate problems and susceptibility to stroke ("Prostate and Stroke Option"). Scantek and Life Medical would each have a 50% voting interest and a 48.5% total interest in the LLC. The exercise price for the Prostate and Stroke Option is $3.2 million, payable 50% at the time of exercise and 50% within six months after the time of exercise. The Prostate and Stroke Option will expire if it is not exercised prior to December 31, 2008. The following should be noted: (i) the prostate device and susceptibility to stroke device are in early stages of planning, and (ii) Scantek does not have FDA approvals with respect to either device.

BreastCare is a safe, non-invasive, low-cost, single-use medical device which detects tissue heat differentials between the breasts. The pads are placed inside of a woman's bra for 15 minutes, after which the device registers a digital reading of the heat conducted from within the breast tissue. BreastCare has received marketing clearance from the United States Food and Drug Administration to be used by physicians as an adjunct to clinical breast examination, mammography and other established modalities for the detection of breast disease. In clinical studies in the United States (Memorial Sloan Kettering Cancer Center -- NY, M. D. Anderson Cancer Center -- Houston, Guttman Institute -- NY, Georgetown University, and Brotman -- UCLA), in Brazil, and at the European Institute of Oncology in Milan, Italy, BreastCare has been clinically proven capable of recognizing metabolic activity (angiogenesis) by recording the heat differentiation of corresponding areas of the breast, and has identified tumors as small as 5 mm in diameter.

Scantek believes that no other product on the market is able to accurately detect significant temperature differentials, which are an indication of the possibility of breast cancer, while still being inexpensive and easy to use. Those attributes make BreastCare ideal for public health systems in developing countries, where a substantial percentage of the adult female population does not have easy access to mammograms. BreastCare creates a medically and economically viable way to screen large numbers of women in poor or rural areas for breast cancer.

About Scantek Medical

Scantek Medical, Inc. developed, produces, and distributes the BreastCare(tm)/ BreastAlert(tm) Differential Temperature Sensor product. Scantek is also developing medical devices which use this temperature differential technology to screen for other medical conditions, including prostate problems and susceptibility to stroke. Scantek's manufacturing facility and corporate offices are located in Cedar Knolls, New Jersey, and it has subsidiaries in Brazil and Hungary.

Statements in this press release which are not historical, including management's intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to the risk factors and other information set forth in Scantek's filings with the Securities and Exchange Commission. Actual results could differ materially from any forward-looking statements and may vary from management's expectations and cannot be guaranteed.

CONTACT: Scantek Medical, Inc.
Dr. Zsigmond L. Sagi
(973) 401-0434
Fax: (973) 401-0459
skml*garden.net

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The difference between genius and stupidity is that genius has its limits

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TRNP(.014) Brian Fox, CEO of Powder River Basin Gas Corp., to Speak with Tim Connolly on Corporate Strategies Radio Show, Sunday, March 18, 9:00pm ET
3/15/2007

HOUSTON, Mar 15, 2007 (BUSINESS WIRE) --
Brian Fox, the CEO of Powder River Basin Gas Corp., will be a featured guest on Sunday's airing of the Corporate Strategies Show. Powder River Basin Gas Corp. (OTCBB: PRVB) is a revenue-generating producer, developer and marketer of crude oil and natural gas. PRVB's state-of-the-art imaging methods have provided proven oil and gas reserves valued at $1.5 Billion (PV 10%).

The company has considerable cash flow and has consistent increases in quarterly earnings. Turnaround Partners, Inc. (OTCBB: TRNP) is the lead sponsor of The Corporate Strategies Business Talk Radio Show, which may be heard on KSEV AM 700 in Houston, Texas, WGCH AM 1490 in Greenwich, Connecticut, WSBR AM 740 in Boca Raton, Florida, and on over 400 affiliate stations nationwide listed at CRN1 www.cableradionetwork.com, or on the Internet at www.businesstalkradio.net. Previous guests of the show have included US Senator John McCain, ChangeWave Research's Bryan Perry, Enterprise Products CEO Dan Duncan, Celgene's CEO John Jackson, Landry's CEO Tilman Fertitta, Mario Gabelli, former SEC Chairman Arthur Levitt, former Compaq CEO Eckard Pfeiffer, Money Manager Louis Navellier, and many others. This hour of "Corporate Strategies with Tim Connolly" is hosted by Tim Connolly of Corporate Strategies Merchant Bankers (www.corporate-strategies.net). Noted Economist Mike King of Princeton Research provides live technical analysis for the show.

About Turnaround Partners, Inc. and Corporate Strategies, Inc. - Turnaround Partners, Inc. www.turnaround-partners.com provides business growth, organizational restructuring, and turnaround execution services for emerging and re-emerging public companies through our wholly owned subsidiary, Corporate Strategies, Inc. (www.corporate-strategies.net). Turnaround Partners, Inc. is unique because we accept payment for our services in the common stock of the companies we serve, aligning our interests with those of the client's shareholders and preserving their corporate cash reserves for working capital and growth. As Turnaround Partners, Inc. succeeds, the shareholders of our valued clients succeed. Turnaround Partners, Inc. believes our approach provides Turnaround Partners' shareholders with an opportunity to realize greater gains than merely receiving cash payments for our services. We consider Turnaround Partners, Inc. to be the ultimate business resource for emerging and re-emerging public companies.

All statements included in this press release, other than statements of historical fact, are forward-looking statements. Although Management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors could cause actual results to differ materially from the expectations that are disclosed in this Press Release. While Turnaround Partners, Inc./Corporate Strategies, Inc. believes its forecasting assumptions are reasonable, there are factors that are hard to predict and influenced by economic and other conditions that are beyond Turnaround Partners, Inc./Corporate Strategies, Inc.'s control. Among the other important factors which could cause actual results to differ materially from those in the forward-looking statements are detailed in Turnaround Partners, Inc./Corporate Strategies, Inc.'s filings with the Securities and Exchange Commission.

SOURCE: Turnaround Partners, Inc.

Turnaround Partners, Inc./ Corporate Strategies, Inc. Dawn Brown, 713-621-2737 news*corporate-strategies.net or Princeton Research, Inc. Mike King, 702-650-3000

Copyright Business Wire 2007

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The difference between genius and stupidity is that genius has its limits

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ALLP(.125)Updates Clinical Development of Oxygent(TM) in China
3/15/2007

SAN DIEGO, March 15, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
Alliance Pharmaceutical Corp. (OTC Bulletin Board: ALLP) previously reported that recently produced clinical supplies of Oxygent(TM) (perfluorochemical [PFC] emulsion) would be used by Alliance's partner in China, Beijing Double-Crane Pharmaceutical Co. Ltd. (Double-Crane), for Double-Crane's Investigational New Drug (IND) application to the State Food and Drug Administration P.R. China (sFDA).

In accordance with the current regulations of sFDA, the supplies for the IND application and clinical development must be manufactured in a facility in China. As a result, Alliance has agreed to accelerate the technology transfer to Double-Crane, which originally was planned to occur when Phase 3 trials were initiated in China. Because Double-Crane has considerable experience in manufacturing large-volume parenteral and IV solutions, Double-Crane has indicated to Alliance that it believes production of the relevant clinical supplies can begin in an expeditious manner. Double-Crane has also expressed a desire to supply Alliance with clinical and commercial supplies of Oxygent from its facilities, which would be contingent on Double-Crane's compliance to Current Good Manufacturing Practices (cGMP) and registration with the U.S. FDA.

Once clinical supplies are manufactured by Double-Crane, Double-Crane has indicated that it will submit its IND application for initiation of the agreed upon clinical development plan. Once sFDA approves the application, Double- Crane will start the clinical trials immediately.

Double-Crane intends to pursue an intra-operative and post-operative transfusion avoidance endpoint as the primary endpoint. Double-Crane's clinical development plan would incorporate a new protocol design which is intended to build on the previously conducted Alliance Phase 2 and Phase 3 clinical trials. In these studies, the efficacy of Oxygent in terms of drug activity, i.e., its ability to deliver oxygen which enabled patients to remain physiologically stable at lower intra-operative Hb levels, was statistically demonstrated to be better than blood. Importantly, the Double-Crane study will not employ any blood harvesting techniques (i.e., acute normovolemic hemodilution or intra-operative autologous donation), which were implicated in safety issues in a previous Alliance Phase 3 clinical trial.

Double-Crane is obligated pursuant to its agreement with Alliance to conduct clinical trials in China in accordance with International Conference on Harmonization of Technical Requirements for Registration of Pharmaceuticals for Human Use (ICH) Guidelines, which would allow Alliance to use any data derived from the clinical trials in other countries.

About Alliance Pharmaceutical Corp.:

Alliance Pharmaceutical Corp. is a development-stage pharmaceutical company that is currently focused on developing its lead product, Oxygent, which is based on its proprietary PFC technology. Oxygent is being developed as an intravascular oxygen carrier designed to augment oxygen delivery in surgical patients.

Except for historical information, the matters set forth in this release are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth herein. Alliance refers you to cautionary information contained in documents Alliance files with the Securities and Exchange Commission from time to time, including the last Form 10-KSB and Form 10-QSB. Alliance is under no obligation (and expressly disclaims any obligation) to update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.

SOURCE Alliance Pharmaceutical Corp.

Corporate Communications of Alliance Pharmaceutical Corp., +1-858-410-5275 http://www.prnewswire.com

Copyright (C) 2007 PR Newswire. All rights reserved

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The difference between genius and stupidity is that genius has its limits

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CHNW again HUGE news:

JACK CHANG accepts stock options rather than cash ... this means a lot !!!

Esprit Financial Group (CHNW.PK) Executive Jack Chang To Be Compensated in Part By Cash And In Part By Stock And Stock Options
Friday March 16, 6:00 am ET


LAS VEGAS, March 16 /PRNewswire-FirstCall/ - Esprit Financial Group Inc. (ESPRIT) (formerly Cash Now Corporation) (DBA Cash Now) (CHNW.PK) www.cashnow.com is a public company engaged in the operation and licensing of a comprehensive suite of Internet-based payday loan and check cashing software and private label back end office systems for the sub prime market. Additionally, the Company is in the late developmental stage of offering an innovative low-cost online Introductory Broker (IB) Forex trading system, and the e-wallet product lines named EM2 (Electronic Money Management). This stored value card allows customers to transfer cash value without having to issue checks. Employers can use it to pay employees (of great benefit for hourly workers who may not have a bank account); in multi-level marketing organizations, as well as facilitating electronic fund transfers.
ADVERTISEMENT


Today, the company announced that Jack Chang, Esprit's Director of Operations for EM2, will be compensated in part by cash and in part by stock and stock options. CEO Garr Winters noted that: "We remain very bullish on the prospects of the Company, particularly with respect to the new products being launched like our Forex trading service, and the EM2 services that will be managed by Jack exclusively. Some of the previously announced projects that Jack is in the process of bringing to fruition can bring some significant income royalty stream to the company for the next 25 years. This pay structure allows us to maintain a low burn rate, and allows the key executives to share in the future success of Esprit."

Jack Chang is the 3rd executive to accept such a pay package, along with Garr Winters, the company's CEO, and Richard Sciacchetano, Esprit's Forex development manager.

About Esprit Financial Group Inc.

Esprit Financial Group Inc. (formerly Cash Now Corporation) is a pioneer in the payday loan industry, and continues to develop the most comprehensive menu of services in the cash advance industry and will retain the Cash Now brand for many of these services. The company's proven business model includes licensing to corporately operated locations across the U.S. and Canada, as well as several foreign markets. Additionally, the Company's website is the most advanced payday-lending portal, offering key insight to clients and potential clients alike.

The Company is currently in the process of expanding its product portfolio by bringing a retail Forex trading platform to market, targeted to seasoned day traders. The Beta test site has now been launched, with a full-service roll-out to follow once the platform has been successfully tested.

Additionally, the Company's e-wallet product, named EM2 (Electronic Money Management) continues to be developed. This stored value card allows customers to transfer cash value without having to issue checks. Employers can use it to pay employees (of great benefit for hourly workers who may not have a bank account); in multi-level marketing organizations, as well as facilitating electronic fund transfers.

Safe Harbor Statement

Information in this press release may contain "forward-looking statements." Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Esprit Financial Group's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Esprit Financial Group's periodic reports filed with the regulatory authorities.


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Source: Esprit Financial Group Inc.

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http://stockcharts.com/charts/gallery.html?chmd

China Media Group Corporation Enters Sale and Purchase Agreement to Acquire 50% of Beijing Ren Ren Health Culture Promotion Limited
Friday March 16, 6:01 am ET


CEDAR HILL, TX--(MARKET WIRE)--Mar 16, 2007 -- China Media Group Corporation (OTC BB:CHMD.OB - News) ("CMG") announces that on March 13, 2007, it entered into a Sale and Purchase Agreement to acquire 100% of the issued and outstanding shares of Good World Investments Limited which owns 50% of the registered capital of Beijing Ren Ren Health Culture Promotion Limited ("BRR").
ADVERTISEMENT


BRR is a company incorporated in the People's Republic of China and is working with the Chinese Government on a benevolent project named "Great Wall of China Project" to promote health education and health awareness to the Chinese public.

Mr. Con Unerkov, Chairman of China Media Group stated, "We are delighted to finalize this transaction which has taken a little over 12 months. Its completion is a significant milestone for CMG. We are excited to be involved in this important national health awareness and educational program. In this connection, BRR provides a strategic advertising platform for CMG to launch its advertising operations in China, and the unique ability to reach all corners of China under the benevolent program."

As a background, the Chinese Government has undertaken to the United Nations to promote health education and awareness on certain health issues such as AIDS, Hepatitis, Disease Prevention, Children's Health, etc. to 85% of its citizens by 2015.

The Chinese Government has set up an association to oversee this commitment made to the UN. The association has appointed BRR to perform this benevolent work on behalf of the Chinese Government. The United Nations project website is www.un.org/millenniumgoals/ The Great Wall of China Project website is http://www.unmdg.com/

Key Points:


-- BRR can advertise nationwide covering the media: billboards,
television, newsprint, magazines and internet.
-- BRR is permitted to provide advertising both inside and outside of
Hospitals in a controlled market.
-- BRR is permitted to provide advertising in all residential estates in
China.
-- BRR is permitted to provide advertising on mobile hand held devices.
-- The Great Wall of China Project is "exclusive to Ren Ren" to
perform/achieve this milestone for the Chinese Government
BRR has been busy on a number of initiatives and projects as per below:


-- Beijing ChaoYang District -- Approval to roll out over 600 outdoor
billboards/signs in this very high profile district where the majority of
foreign consulates, ministries and the 2008 Olympic Village are located.
-- Beijing No. 6 Hospital -- Outdoor advertising initially for 20 light
boxes at Beijing No. 6 Hospital situated in the prestigious Dongcheng
district which includes the Central Government of China, more than 20 State
Departments, over 100 Bureau Departments, 200 Beijing City Committee and
City Governmental Divisions.
-- Street Light Boxes located on a road near Russian Embassy -- Outdoor
advertising in one of the most prosperous areas in Beijing on Dong-Zhi-Men-
Bei-Zhong Road in the district of Dongcheng. Initially to modify the
existing 12 light boxes and to build another 12 on the adjacent side of the
road.
-- Dalian Goal Media Limited -- Magazine advertising for the Chinese
magazine "iVogue."
-- DreamWorks Movie & TV Culture Media Co. Ltd -- Mobile TV and
advertising in the Chinese province of Hunan.
-- Harbin Shengdong Advertising Co. Ltd -- Outdoor advertising in the
city of Harbin.
Mr. Pui Kit Lam, Chairman of BRR stated, "We are eagerly looking forward to working with China Media Group Corporation on the Great Wall of China Project and to launch the health awareness and education programs. China Media will bring invaluable contacts outside of China to further our joint objectives of creating health awareness through education. What better way than advertising and promotion through old and new media in China. We have been talking to China Media for well over a year now and we look forward to working with the quality team that makes up the China Media Group."

About China Media Group Corporation:

China Media Group Corporation (OTC BB:CHMD.OB - News) is a "Next Generation" advertising/media company focusing on the very lucrative Chinese market. It has offices in China, Hong Kong and Texas, USA. The Company was incorporated in Texas on October 1, 2002. The Company is currently entering the fast growing advertising industry in China and plans to expand its offices in key cities such as Shanghai, Guangzhou and Shenzhen. The Company will also cooperate with strategic partners in other cities to serve our clients for nationwide advertising coverage.

Additional information concerning other areas and topics of China Media Group can be found on our web site at http://www.chinamediagroup.net

A number of statements contained in this Report are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Certain written statements in this press release constitute "forward-looking statements" as defined under the Private Securities Litigation Reform Act of 1995. Words or phrases such as "should result," "are expected to," "we anticipate," "we estimate," "we project," "we intend," or similar expressions are intended to identify forward-looking statements. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed in any forward-looking statements. These risks and uncertainties include demand for our services, product development, our ability to maintain acceptable margins and control costs, the impact of federal, state and local regulatory requirements on our business, the impact of competition and the uncertainty of economic conditions in general, including the timely development and market acceptance of products, competitive market conditions, 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. Readers are cautioned not to place undue reliance on forward-looking statements, since the statements speak only as of the date that they are made, and we undertake no obligation to publicly update these statements based on events that may occur after the date of this document.


Contact:
Contact:
China Media Group Corporation
San Antonio, Texas
ir*chinamediagroup.net

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