posted
CHNW(.0011) Announces Receipt of ISIN Number
LAS VEGAS, March 23 /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. The Company is also bringing to market a suite of stored value cards and an e-wallet product named EM2 (Electronic Money Management) which provides extensive capabilities for the unbanked or underbanked consumer and payroll market.
The company today announced that it has received its International Securities Identification Number (ISIN number). The Company is now finalizing its Corporate Expose to be submitted to the Deutsche Borse (Frankfurt Exchange) as part of the required listing procedures for that exchange.
Garr Winters, Esprit's CEO said, 'With the ISIN number in place and work well under way on the expose, we are on track to have the Frankfurt listing in place for the launch of our European Forex site, scheduled for May 15, 2007'.
The (ISIN) system is an international standard set up by the International Organization for Standardization (ISO). It is used for numbering specific securities, such as stock, bonds, options and futures. An ISIN code has characters which are alphanumeric, and is structured to include the country in which the issuing company is headquartered, the specific security identification number and a final character acting as a check.
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.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
PMRS(.0005) Auto 'V' Grooving Outstanding Success at Surface and Fabrication Expo
Premier Mortgage Resources Inc. (PINKSHEETS: PMRS) is in the final stages of acquiring Auto 'V' Grooving Inc., long a world leader in the manufacture of high precision fabrication machinery. Auto 'V' Grooving products attracted considerable interest at last weekend's Surface and Fabrication Expo in Orlando, Florida. Fourteen manufacturers expressed enthusiasm for using Auto 'V's' line of products to help increase their productivity and profits.
Based on the rapidly growing international interest in Auto 'V's' product line, the company expects a significant increase in revenues in the upcoming year. At the Expo interest came from companies based in Mexico, the Netherlands, the UK, Italy, Turkey and Australia. Auto 'V' is negotiating the sale of an AVG-48 machine to a solid surface fabricator in Italy who has also asked for the right to represent Auto 'V' in that country.
As expected, the company's flagship product, the AVG-48 machine, which is used both by solid surface and wood fabricators, continues to be its best seller because of the diverse functions it can be used for. However, as a result of strong interest at the Expo, the company is also responding to a large number of Requests for Quotation for its SVG30 machine, which v-grooves stone using Auto 'V's' patented dry-cutting process.
"We're very excited about the reception we received at the Expo. The interest shown in Auto 'V's' line of products was outstanding and the quality of the leads generated is excellent," declares Steven Brown, President and Chief Executive Officer. "The value of the sales represented by these exceptionally strong opportunities could lead to sales in excess of $3 million over the next twelve months."
About Auto 'V' Grooving Inc.
Based in Toronto, Ontario, Auto 'V' Grooving Inc. is the innovator of the v-grooving fabrication process, and manufactures a line of high precision machinery incorporating this revolutionary technique. Over the last 35 years, more than 1600 machines have been installed worldwide, all of them still in full production operation. The company currently markets its equipment through major industry trade shows, direct sales and on the Internet.
Safe Harbor -- This press release includes forward-looking statements that involve risks and uncertainties, including, but not limited to, product delivery, the management of growth, market acceptance of certain products and other risks. These forward-looking statements are made in reliance on the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. For further information about these factors that could affect Premier Mortgage Resources Inc. future results, please contact the Company directly. Prospective investors are cautioned that forward-looking statements are not guarantees of performance. Actual results may differ materially from management expectations.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
SBON(.10) Announces Results for the Year Ended December 31, 2006
Siboney Corporation (OTCBB: SBON) announced today its results of operations for the year ended December 31, 2006.
Revenues for 2006 were $6.3 million, a 17% decrease from the $7.5 million reported in 2005. Net loss for the year ended December 31, 2006 was $1,012,772 after an income tax benefit of $654,000 compared to a net loss of $1,236,394 after an income tax benefit of $772,000 for the year ended December 31, 2005.
Bill Edwards, President of Siboney Learning Group, commented: “2006 was a difficult year for supplemental educational curriculum sales. As a result we have reduced our operating costs and refocused our sales and marketing efforts. Our flagship product, Orchard Software, was recently selected as a finalist in the SIIA CODiE Awards for Best Educational Solution as well as the AEP Golden Lamp Awards. This industry recognition reconfirms the effectiveness of Orchard’s state specific assessment, targeted instruction and data driven management capabilities.”
Any forward-looking statement is necessarily subject to significant uncertainties and risks. The words “believes,” “anticipates,” “intends,” “expects” and similar expressions are intended to identify forward-looking statements. Actual results could be materially different as a result of various uncertainties. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, the following: (1) risks related to our customers’ dependence on government funding to purchase the Company’s products; (2) risks associated with our ability to compete with well-established and well-funded competitors; (3) risks associated with the constant changes in the technologies used to build and deliver the Company’s products; (4) the Company’s ability to retain key personnel; (5) the Company’s ability to motivate its independent dealer representatives to sell the Company’s products; (6) changes in the market acceptance and demand for curriculum-based educational software; (7) risks associated with acceptance of statistical studies; and (8) risks associated with our ability to access capital to finance our business. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Financial Highlights
Year Ended December 31, 2006 2005 Revenues $ 6,295,934 $ 7,544,703 Cost of Product Sales $ 1,791,684 $ 2,105,973 Gross Profit $ 4,504,250 $ 5,438,730 Selling, General & Administrative Expenses $ 6,001,475 $ 7,407,951 Loss from Operations $ (1,497,225) $ (1,969,221) Income Tax Benefit $ 654,000 $ 772,000 Net Loss $ (1,012,772) $ (1,236,394) Loss per Common Share - Basic $ (0.06) $ (0.07) Weighted Average Number of Common Shares Outstanding - Basic 17,093,391 17,094,350
Siboney Corporation, St. Louis Bill Edwards, 314-822-5615
Source: Business Wire (March 23, 2007 - 5:15 PM EDT)
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
THMG(.14) Stakes Claims in the Clover Mountain Area Owyhee County, Idaho
ELKO, Nev., March 23 /PRNewswire-FirstCall/ -- Thunder Mountain Gold, Inc. (OTC Bulletin Board: THMG) is pleased to announce that the company has staked forty lode claims, covering approximately 800 acres, near Clover Mountain in Owyhee County, Idaho. Historic records indicate limited production of gold and silver ore occurred in the Clover Mountain area in 1917.
The claims cover a large area of hydrothermally-altered, fractured, and brecciated intrusive igneous and extrusive volcanic rocks with elevated gold and related silver-arsenic-antimony-mercury-mineralization. Anomalous gold values obtained from rock chip samples ranged from non-detect to 0.058 ounces, plus anomalous values in claim corner soil samples. The anomalous values appear to be associated with stockwork veining in a granitic stock which has been intruded by northeast and northwest trending rhyolitic dikes. The granitic intrusive is overlain by locally silicified rhyolitic tuff. Anomalous base metal values ranging from a trace to 1.25% copper and 1.54% zinc were obtained in areas of veining near the contact between the granitic stock and northwest trending rhyolitic dikes. Rock chip and soil samples were analyzed by ALS Chemex Laboratories.
Thunder Mountain is planning to initiate a systematic soil sampling and detailed mapping program in the spring of 2007. Data from these programs will provide a comprehensive data package for potential drill target generation. Additional regional reconnaissance work in the Clover Mountain area is also planned.
About Thunder Mountain Gold, Inc.
Thunder Mountain Gold is an exploration company focused on the generation of precious and base metal projects in the Western United States, Mexico, and Alaska. Thunder Mountain performs its own natural resource exploration and generates value for shareholders by aggressively developing high-grade, high-quality precious and base metal resources in politically stable mining regions.
This release has been reviewed and approved by Company Vice President Pete Parsley (M.Sc. and Registered Professional Geologist), and 'qualified person' as that term is defined in National Instrument 43-101.
ON BEHALF OF THE BOARD Jim Collord President and Chairman of the Board
Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed and elsewhere in the company's periodic filings with United States securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The company does not assume the obligation to update any forward-looking statement.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
SAN DIEGO, March 23, 2007 (PRIME NEWSWIRE) -- Miracor Diagnostics, Inc. (OTCBB:MRDG) has undertaken an effort to restructure its equipment financing as the Company is over-leveraged and the amount of the equipment financing substantially exceeds the fair value of the underlying assets that secure such debts. Cash flow from operations does not support the cash flow required to service such equipment financing. In addition, the recent implementation of the Deficit Reduction Act which cuts certain Medicare payments has had an adverse affect on our industry's revenue, including Miracor's, although we cannot specifically quantify the impact.
As mentioned in Miracor's 3rd Quarter press release, principal and interest payments to the secured equipment lenders have been discontinued as well as certain payments to unsecured creditors and preferred shareholders. We are actively negotiating with our lenders to determine a course of action that will be best for our creditors and our shareholders. These efforts may be unsuccessful due to the fact that the amount owed on our financed equipment is substantially in excess of its fair value. In such a case, we may seek the protection of Chapter 11 of the U.S. Bankruptcy Code in an effort to reorganize the debts of the company. Such a reorganization will require us to submit a Plan of Reorganization for approval by the court which could result in no value to our common and preferred shareholders and may also impair creditors. Special legal counsel and financial advisors have been retained for guidance through the reorganization process. If the Plan of Reorganization is successful, the company could continue as a going concern though there can be no assurances that our shareholders will receive any consideration pursuant to a Plan of Reorganization.
Miracor announced today that it has refinanced its line of credit, which was secured by certain of its accounts receivable, with a new line of credit secured by the same accounts receivable, with a private investor.
Resignation of Chief Operating Officer
Leslie Weber, the Company's Chief Operation Officer, announced her resignation effective March 31, 2007 to pursue other interests. Ross Seibert, the Company's current Chief Executive Officer and Chief Financial Officer will handle her duties in the interim.
About the Company
Miracor has been operating freestanding diagnostic imaging centers since 1998. We are an independent provider of medical diagnostic imaging services; specifically magnetic resonance imaging ("MRI") and computed tomography ("CT") services through our network of company-owned and operated fixed-site, freestanding outpatient facilities. We operate 13 wholly-owned centers. Our centers, all of which operate from facilities leased from third parties, are located in the following five states: California, Florida, Illinois, Ohio and Oregon. We derive substantially all of our revenue, directly or indirectly, from fees charged for the diagnostic imaging services performed at our facilities with approximately 80% of our revenues derived from MRI services, 10% from CT services and 10% from other diagnostic imaging services.
We target our growth/expansion in the areas in which we currently operate. Our clustering strategy brings many benefits including lower costs, management coverage and name recognition. All of our facilities provide a patient-friendly setting. Our facilities range from single-modality MRI to multi-modality offering various combinations of MRI, CT, mammography, ultrasound, bone densitometry, diagnostic radiology, or X-ray and fluoroscopy.
Most of the centers offer open MRI equipment that affords greater patient comfort especially for larger or claustrophobic patients. All of our MRI equipment has the most recent software upgrades for enhanced imaging quality. We believe there is a continuing trend towards the movement out of hospitals and into freestanding centers. The outpatient market for diagnostic imaging now exceeds that of the inpatient market. This is due to a number of factors including increased efficiencies of outpatient services, the patient-friendly nature of independent centers and federal regulatory changes that favor the outsourcing of diagnostic imaging services by hospitals.
At our facilities, we provide all of the equipment as well as all non-medical operational, management, financial and administrative services necessary to provide diagnostic imaging services. Miracor delivers these imaging services tailored to the needs of the patient, physician and local health care markets.
Miracor operates the following 13 diagnostic imaging centers:
California Florida Illinois
Laguna Niguel Jacksonville Carol Stream Long Beach (2) Kissimmee Oak Brook Santa Barbara Orlando Woodridge
This press release may include statements that constitute "forward-looking statements," which are often characterized by the terms "may," "believes," "projects," "expects," or "anticipates," and do not reflect historical facts. Forward-looking statements involve risks, uncertainties and other factors that may cause actual results, performance or achievements of Miracor to be materially different from those expressed or implied by such forward-looking statements.
Factors that may affect forward-looking statements and the Company's business generally include but are not limited to (i) the Company's current financial situation and the fact that the Company's debts and obligations exceed its assets; (ii) the risk factors and cautionary statements made in the Company's SEC filings; and (ii) other factors that Miracor is currently unable to identify or quantify, but may exist in the future.
Forward-looking statements speak only as of the date the statement was made. Miracor does not undertake and specifically declines any obligation to update any forward-looking statements.
CONTACT: Miracor Diagnostics, Inc. Ross S. Seibert - President and CEO (858) 455-7127, ext. 11 Investor Relations (858) 455-7127, ext. 20
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
CUSIF(.225): Taurus Project and Table Mountain Mine Update David H. Brett, President, Cusac Gold Mines Ltd. (TSX: CQC)(OTCBB: CUSIF)(FRANKFURT: DCB) the "Company"), provides the following update on the Taurus Project and gold production at the Company's adjoining Table Mountain Gold Mine, both located in Northern BC. The Company is the 100% owner and operator of the Table Mountain Gold Mine and recently signed an agreement in principle to acquire 100% of the Taurus Project, subject to a definitive agreement and TSX approval now in process.
Taurus Project
The Company has retained Wardrop Engineering Inc. to prepare a NI 43-101 report covering the Taurus Project. A site visit is currently underway. An earlier (2006) 43-101 report prepared by Wardrop on behalf of American Bonanza Gold Corp. estimated an open-pit, bulk tonnage inferred resource of 1.04 million ounces at a grade of 1.0 g/t Au on the entire Taurus Project, taking into consideration both the American Bonanza portion (70%) and the Cusac portion (30%). A revised version of this report excluding Cusac's 30% portion of the deposit is currently available on American Bonanza's Sedar web site. The new report when completed will cover the entire Taurus Deposit and will be posted on Cusac's Sedar web page. Investors are encouraged to read the February 2006 Wardrop Engineering Inc. report that is available at American Bonanza's www.sedar.com web page.
The February 2006 Wardrop report concludes that, based upon a very preliminary economic analysis, an operating profit could be achieved even at a gold price of US$450/oz. The Waldrop report gives clear and positive recommendations for further work to upgrade and expand the Taurus resource via a pre-feasibility study focusing on better understanding the metallurgy and the geologic model.
"The Taurus Deposit is an advanced stage project that Cusac believes can quickly be advanced to pre-feasibility stage," said Cusac CEO David Brett. "We are now developing a detailed Taurus drilling, geological and metallurgical program for 2007 with the first step being the commissioning of the new Wardrop Report."
Table Mountain Gold Mine
The Company has experienced two challenges in the 1st quarter of 2007 that have impacted gold production. Firstly, the Rory Vein, has demonstrated unexpected structural complexity between drill holes, slowing the Company's ability to develop consistent ore blocks for mining. Initial underground development delineated quartz veins and stringer zones much wider than expected, but containing lower grades. As a result, significantly lower tonnage and lower grades have been processed than the Company had hoped for.
However, recent developments have been more encouraging. The unforeseen structural complexities have predominantly been in the north end of the vein, with the south end of the Rory Vein becoming much more typical of Table Mountain quartz veins. The "South Panel", one of the ore blocks now being mined, assayed 0.39 ounces per ton over a 20 meter strike length of vein averaging 2.52 meters true width. This ore, as well as other higher grade material, will be milled in April.
Secondly, the Company's 300 ton per day mill had to be temporarily shut down due to a problem with the conveyer system that feeds the crushing circuit. A work-around solution was put in place and milling resumed. The mill and crushing systems themselves are not impaired in any way; rather, the method for feeding ore into the crusher is impaired. A portable crushing and conveyor system has been put in place to bypass the impaired conveyor system until spring thaw, when re-building and reinforcement of the ramp, conveyor and associated structures will be undertaken. The Company does not expect any ongoing impairment to its ability to process ore or substantial repair cost for the conveyor system.
Production Outlook
The Company's projected gold production for 2007 is based on probable reserves of 44,000 tons grading 0.49 opt in the Rory Vein (16,000 tons grading 0.46 opt) and the East Bain Vein (28,000 tons grading 0.50 otp). The Rory Vein differs from previously mined structures at Table Mountain in that it strikes north-south. This vein orientation has displayed unexpected complexities that will likely slow the rate of production from this vein. The East Bain is a normal east-west structure and is not expected to display similar mining complexities.
The Company's initial plan in 2006 was to commence mining at Rory because the amount of advance development was significantly less than the East Bain. Upon achievement of positive cash flow, development of the East Bain was to commence. As a result of the difficulties described above, development of the East Bain was delayed. The Company plans to continue mining the Rory Vein during the second quarter and start development of the East Bain in early April. This will result in ore from the East Bain Vein being processed mainly in the third quarter of 2007.
The Company believes it is still on track to process the 44,000 tons of reserves outlined in 2007, but the bulk of this gold production is now expected in the second half of 2007.
"The Cusac mining and geological team has been working hard to overcome the start-up challenges we have been facing," said Cusac CEO David Brett. "I am confident that 2007 will be a good year for Cusac with the production challenges behind us and the Taurus Project advancing rapidly." George Sanders, P.Geo is the Qualified Person responsible for the technical portion of this news release under National Instrument 43-101.
CUSAC GOLD MINES LTD.
David H. Brett, President & CEO
Forward-Looking Statements
There are forward-looking statements contained herein that are not based on historical fact, including without limitation statements containing the words "believes", "may", "plans", will", "estimate", "continue", "anticipates", "intends", "expects" and similar uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, among others, Cusac's exploration results, lack of revenues, additional capital requirements, risks associated with the exploration activity. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
SFLK(.094) Reports Fourth Quarter and Fiscal 2006 Financial Results
Saflink® Corporation (OTC Bulletin Board: SFLK), a leading provider of solutions that verify identity, secure access and increase productivity, today reported its financial results for its fourth quarter and year ended December 31, 2006.
Revenue for the fourth quarter of 2006 was $702,000, compared to $1.7 million for the third quarter of 2006, and $768,000 million for the fourth quarter of 2005. Saflink reported a net loss attributable to common stockholders of $24.8 million, or $0.27 per share, in the fourth quarter of 2006, which included impairment charges on goodwill and intangible assets of $15.5 million and $1.7 million, respectively. Also included in the net loss for the fourth quarter of 2006 was a $2.8 million restructuring charge related to facility consolidations and workforce reductions. This is compared to a net loss attributable to common stockholders of $21.5 million, or $0.24 per share, in the third quarter of 2006, which included a non-cash impairment charge of $14.6 million related to intangible assets and other long-lived assets. This is also compared to a net loss attributable to common stockholders of $7.6 million, or $0.09 per share, in the fourth quarter of 2005.
Revenue for fiscal 2006 was $4.2 million, compared to $7.1 million for fiscal 2005. Saflink reported a net loss attributable to common stockholders of $120.7 million, or $1.36 per share, for fiscal 2006, which included impairment losses on goodwill, intangible assets and furniture and equipment of $75.9 million, $15.5 million and $716,000, respectively, and the $2.8 million restructuring charge. This is compared to a net loss attributable to common stockholders of $47.1 million, or $0.56 per share, for fiscal 2005, which included impairment losses on goodwill and intangible assets of $19.3 million and $1.5 million, respectively.
Non-GAAP operating losses for the fourth quarter of 2006 and fiscal 2006 were $3.8 million and $20.2 million, respectively, which excludes certain non-cash charges such as amortization of intangible assets, impairments of goodwill, intangible assets and furniture and equipment, as well as stock-based compensation expense. These non-GAAP operating losses are compared to non-GAAP operating losses of $6.3 million and $22.5 million for the fourth quarter of 2005 and fiscal 2005, respectively. Saflink believes that supplementary non-GAAP measures for operating results enhance an investor’s overall understanding of the financial performance of Saflink by reconciling more closely the actual cash expenses of Saflink in its operations, as well as excluding expenses that, in management’s view, are unrelated to the core operations of Saflink. A reconciliation of non-GAAP operating loss and non-GAAP net loss to reported GAAP operating loss and net loss is provided below.
Steve Oyer, Saflink’s Interim CEO commented, “The fourth quarter marked the beginning of our efforts to focus the business in areas with the greatest potential, while also reducing our cash burn through headcount reductions and facility consolidations. As we moved into 2007, we were able to close two deals with companies with the ability to take our technologies to market, which created some return on our product development investments and will provide us with future revenue streams depending upon their success.”
Oyer continued, “On the Registered Traveler (RT) side of the business, we are extremely excited about our first airport win and look forward to taking the next steps to roll out the FLO™ Alliance’s unique RT solution."
About Saflink
Saflink Corporation offers biometric security, smart card and cryptographic technologies that help protect intellectual property and control access to secure facilities. Saflink security technologies are key components in identity assurance management solutions that allow administrators and security personnel to positively confirm a person's identity before access is granted. Saflink cryptographic technologies help to ensure that sensitive information is accessed only by the intended recipient(s). Saflink Corporation is also the founding member of the FLO™ (Fast Lane Option) Alliance, which is a consortium of industry-leading companies that contribute their respective expertise to develop, market, sell and deploy an end-to-end solution for the U.S. government's Registered Traveler Program. For more information, please visit http://www.saflink.com or call 800-762-9595.
NOTE: “Saflink” is a registered trademark and “FLO” is a trademark of Saflink Corporation.
This release contains information about management’s view of our future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with our financial condition, our ability to sell our products, our ability to compete with competitors and the growth of the security market. In addition, our success will depend in part on our ability to keep pace with a changing marketplace, integrate new technology into our core software and hardware and introduce new products and product enhancements that build off of our existing technologies to address the changing needs of the marketplace. Various technical problems and resource constraints may impede the development, production, distribution and marketing of our products and services. Also, laws, rules, regulations or industry standards may be adopted in response to these technological changes, which in turn, could materially and adversely affect how we will do business. We encourage you to review other factors that may affect our future results in our Annual Report on Form 10-K, as well as other documents we file periodically with the Securities and Exchange Commission.
SAFLINK CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(In thousands, except per share data)
Three months ended December 31, Twelve months ended December 31,
Cost of revenue: Product 412 356 1,713 2,198 Service 82 160 472 1,402 Impairment loss on intangible assets 1,678 — 15,535 — Amortization of intangible assets 100 671 2,112 2,683 Total cost of revenue 2,272 1,187 19,832 6,283
Gross profit (loss) (1,570) (419) (15,671) 833
Operating expenses: Product development 944 2,522 7,853 9,474 Sales and marketing 902 2,061 6,538 9,189 General and administrative 1,767 2,242 8,251 8,924 Impairment loss on intangible assets — — — 1,500 Impairment loss on goodwill 15,523 — 75,923 19,300 Impairment loss on furniture and equipment — — 716 — Restructuring charges 2,836 — 2,836 — Total operating expenses 21,972 6,825 102,117 48,387
Operating loss (23,542) (7,244) (117,788) (47,554)
Interest expense (1,396) (35) (2,741) (138) Other income, net 25 (301) 275 (5) Change in fair value of outstanding warrants — — — 172
Loss before income taxes (24,913) (7,580) (120,254) (47,525)
Income tax provision (benefit) (179) 13 (140) (488)
Net loss (24,734) (7,593) (120,114) (47,037)
Modification of outstanding warrants (26) — (611) (59)
Net loss attributable to common stockholders $ (24,760) $ (7,593) $ (120,725) $ (47,096)
Basic and diluted loss per common share $ (0.27) $ (0.09) $ (1.36) $ (0.56) Weighted average number of common shares outstanding 91,521 88,081 89,040 84,125
SAFLINK CORPORATION
Supplemental Non-GAAP Information
(Unaudited)
(In thousands, except per share data)
Three months ended December 31, Twelve months ended December 31,
2006 2005 2006 2005 Operating loss $ (23,542) $ (7,244) $ (117,788) $ (47,554) Adjustments to reconcile operating loss in the financial statements to non-GAAP operating loss:
Amortization of intangibles – cost of sales 100 671 2,112 2,683 Amortization of intangibles – general and administrative 83 39 158 155 Impairment loss on intangible assets 1,678 — 15,535 1,500 Impairment loss on goodwill 15,523 — 75,923 19,300 Impairment loss on furniture and equipment — — 716 — Non-cash portion of restructuring charge 2,061 — 2,061 — Stock-based compensation 256 238 1,128 1,400
Net loss attributable to common stockholders $ (24,760) $ (7,593) $ (120,725) $ (47,096) Adjustments to reconcile net loss attributable to common stockholders in the financial statements to non-GAAP net loss attributable to common stockholders:
Amortization of intangibles – cost of sales 100 671 2,112 2,683 Amortization of intangibles – general and administrative 83 39 158 155 Impairment loss on intangible assets 1,678 — 15,535 1,500 Impairment loss on goodwill 15,523 — 75,923 19,300 Impairment loss on furniture and equipment — — 716 — Non-cash portion of restructuring charge 2,061 — 2,061 — Stock-based compensation 256 238 1,128 1,400 Debt extinguishment loss on convertible note to related party — 455 — 455 Non-cash interest expense 1,202 — 2,242 — Change in warrant valuation — — — (172) Modification of outstanding warrants 26 — 611 59 Tax benefit related to impairment loss on intangible assets — — — — Deferred income tax associated with acquisition (179) 13 (140) (488) Non-GAAP net loss attributable to common stockholders $ (4,010) $ (6,177) $ (20,379) $ (22,204)
Non-GAAP basic and diluted net loss per share $ (0.04) $ (0.07) $ (0.23) $ (0.26) Weighted average number of common shares outstanding 91,521 88,081 89,040 84,125
Statement Regarding Non-GAAP Disclosures:
To supplement the financial information that is presented in accordance U.S. generally accepted accounting principles (GAAP), we present certain financial measures that exclude certain non-cash charges, including charges related to acquisitions such as amortization of intangible assets, impairments of goodwill and long-lived assets and stock-based compensation expense which would otherwise be required by GAAP. We believe that these non-GAAP measures facilitate evaluation by management and investors of our ongoing operating business and enhance overall understanding of our financial performance by reconciling more closely our actual cash expenses in operations as well as excluding expenses that in management’s view are unrelated to our core operations, the inclusion of which may make it more difficult for investors to compare our results from period to period.
Non-GAAP financial measures should not be considered in isolation from, as a substitute for, or superior to, financial information presented in compliance with GAAP, and non-GAAP financial measures we report may not be comparable to similarly titled items reported by other companies.
SAFLINK CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In thousands)
ASSETS December 31, 2006 December 31, 2005
Current assets: Cash and cash equivalents $ 1,407 $ 15,217 Accounts receivable, net 390 692 Inventory 86 563 Other current assets 601 841 Total current assets 2,484 17,313
Furniture and equipment, net 420 1,018 Debt issuance costs 550 — Intangible assets, net — 19,848 Goodwill — 75,923 Total assets $ 3,454 $ 114,102
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Current liabilities: Accounts payable $ 1,186 $ 1,204 Accrued expenses 1,308 2,150 Current portion of convertible debt 4,619 1,250 Note payable to related party 1,250 — Other current obligation 213 765 Deferred revenue 229 174 Total current liabilities 8,805 5,543
Deferred tax liability — 140 Total liabilities — 140
Stockholders’ equity: Common stock 975 889 Common stock subscribed 163 — Deferred stock-based compensation — (541) Additional paid-in capital 275,421 269,256 Accumulated deficit (281,910) (161,185) Total stockholders’ equity (deficit) (5,351) 108,419 Total liabilities and stockholders’ equity (deficit) $ 3,454 $ 114,102
Saflink Investor Relations Contact: Tony Schor or Lindsay Kenoe, 847-945-2222 www.investorawareness.com or Press Contact: Sterling Communications Kevin Pedraja, 206-388-5758 kpedraja*sterlingpr.com
Source: Business Wire (March 23, 2007 - 4:10 PM EDT)
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
March 23, 2007 04:20 PM Eastern Daylight Time
RCAU(.08) CompleteAuto Now A Publicly Traded Company and begins trading under Rocket City Automotive Group, Inc. Capitalizing on the $1 Trillion Dollar Automotive Industry!
ORLANDO, Fla.--(BUSINESS WIRE)--CompleteAuto (PINK SHEETS:RCAU), announced today that they are now a wholly owned subsidiary of Rocket City Automotive Group, Inc (RCAU). RocketCity is a publicly traded company operating under the trading symbol “RCAU.PK” and is a leader in creating and implementing initiatives aimed at capitalizing on the $1 trillion dollar automotive retailing industry. Through its companies like CompleteAuto, and its use of innovative and intelligent software solutions, RocketCity’s mission is to facilitate its customers’ success by providing them with the most dynamic and useful tools available while offering unparalleled customer service.
RocketCity’s success can be attributed to its continued focus on relationships with its customers and focusing on disciplined and well-timed strategic acquisitions. RocketCity’s corporate headquarters are located in southeast Orlando, just outside of the Kennedy Space Center and NASA. Current holdings include CompleteAuto, eAutoDrop, Inc. and IT Lagoon LLC.
CompleteAuto serves as an online automotive solutions provider and offers proprietary software, personnel and design solutions to hundreds of automobile dealerships around the country.
eAutoDrop, Inc. is an eBay Motors drop-off store concept. Their goal is to develop retail franchise opportunities for automobile dealers looking for a new stream of revenue. Retail consumers will simply bring their vehicle to an eAutoDrop location, have our dealer franchisees list their vehicle for them on eBay Motors and then sell it for them turning their car into cash!
IT Lagoon is a software development company and a strategic partner for RocketCity, CompleteAuto and eAutoDrop. IT Lagoon currently licenses software applications to automotive service providers as well as creating software applications for a variety of clients here and abroad. IT Lagoon is a registered member of the eBay Software Developer’s Program and is an eBay Solution Provider through their partnership with CompleteAuto.
“We are very excited to offer RocketCity publicly. It will give our company a broader platform to create greater revenue for our existing companies as well as to strengthen our portfolio by acquiring companies with similar missions and likeminded principles. Expect great things to come from Rocket City Automotive Group in 2007 and beyond!” states Jeff Roman, CEO of Rocket City Automotive Group, Inc.
About RocketCity:
Rocket City Automotive Group, Inc. (PINK SHEETS:RCAU) was formed to acquire, manage supervise and operate corporations specializing in eBay, eBay Motors services, eCommerce, software development and retail automotive operations.
RocketCity holdings include IT Lagoon LLC, eAutoDrop, Inc. and CompleteAuto which functions as a certified solution provider for eBay Motors and offers proprietary software, personnel and design solutions to hundreds of automotive dealerships around the country.
RocketCity believes in the enormous growth opportunities in the $1 trillion dollar automotive retailing industry. The experienced management team will continue to execute strategic initiatives to maximize operations in this marketplace with their products and services. Visit them on the web at www.rocketcityauto.com to learn more.
Contacts Rocket City Automotive Group/CompleteAuto, Orlando Investor Relations Charlie Garcia, 1-877-340-2620 invest*rocketcityauto.com
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
BVRSF(.22) Awarded an Additional Program for its Embedded Virtual Avionics (EVA) Solution
Mar 25, 2007 6:02:00 AM ROSH HA'AYIN, Israel, March 25 /PRNewswire-FirstCall/ -- BVR Systems (1998) Ltd. (OTC Bulletin Board: BVRSF), announced today that its EVA (Embedded Virtual Avionics) product has been awarded a new important contract. The initial contract for the adaptation, integration and qualification of EVA to this aircraft is valued at approximately $US 1.0 million.
"The selection of our Embedded Virtual Avionics solution as a baseline on- board training solution is yet another important market recognition of BVR's leading position within the airborne embedded training market," responded BVR CEO Ilan Gillies. "Our strategy to focus on live and embedded training opportunities has proven itself in the last year. The direct results are reflected in multiple awards in both airborne and naval embedded training programs as well as the growing appreciation by both industry partners and customers."
"This is a significant step in the realization of the estimates made by Frost & Sullivan when they recently awarded BVR the Entrepreneurial Company of the year in the market of military training and simulation. In the award, Frost & Sullivan acknowledged the potential of BVR's unique and mature EVA (Embedded Virtual Avionics) solution as well as the IP rights related to this product."
A Full-Service Airborne Training & Simulation Solution
EVA, a mature, complete embedded tactical simulation suite, is the flagship product of BVR, the leading supplier in the embedded training field. The system trains pilots for a wide range of mission scenarios on a variety of avionics systems.
EVA's advanced onboard training capabilities include: a Virtual Radar Suite with a full range of A/A and A/G radar modes and ground mapping capabilities, a Virtual EW suite including radar and missile warning and counter measures dispensing systems, an enhanced tactical environment including smart computer-generated forces, and ground support software for embedded training mission planning and debriefing. Integration in all types of aircraft is as simple as plugging a new card into the avionics mission computer.
EVA offers a full array of advanced pre-, in- and post-flight simulation modules, including mission debriefing and 'what if' analysis tools. Its airborne capabilities are supplemented by a PC ground station for exercise planning and 3D mission rehearsal and debriefing. The ground station can also be connected to the training network using advanced data link capabilities for real-time monitoring.
About BVR Systems
BVR Systems (1998) Ltd. is a world leader in advanced defense training and simulation systems. The Company offers highly efficient, cost-effective solutions to the simulation, training and debriefing needs of modern air, sea and ground forces.
Contact: Ilan Gillies - CEO BVR Systems (1998) Ltd. Tel +972-3-900-8000 This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the current expectations of the management of BVR only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; decline in demand for BVR's products; inability to timely develop and introduce new technologies, products and applications; loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of BVR to differ materially from those contemplated in such forward-looking statements. BVR undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting BVR, reference is made to BVR's reports filed from time to time with the Securities and Exchange Commission.
SOURCE BVR Systems (1998) Ltd.
----------------------------------------------
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
UPDA(.08) Subsidiary Makes First Light Crude Condensate Deliveries to Shell Chemicals - 20,000 Barrel Barge Loaded at Port of Brownsville Mar 26, 2007 12:28:00 AM Copyright Business Wire 2007 BROWNSVILLE, Texas--(BUSINESS WIRE)--
US Petroleum Depot, Inc., a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1), is completing the delivery of approximately 20,000 bbls of light crude condensate to Shell Chemicals, a division of Shell Oil (NYSE: RDS.A, RDS.B) (www.shellchemicals.com). Through its contract with Western Refining (NYSE: WNR) (www.westernrefining.com), the spread on this sale is over $4.00/bbl.
On Sunday, March 25, the 20,000 barrel petroleum transport barge Luke Bryan was loaded at USPD's storage facility at the Port of Brownsville, Texas (www.portofbrownsville.com). With a delivery rate of 1700 bbls/hr., the barge can be loaded in about 12 hours.
"This delivery signals the beginning of a continuous and expanding stream of product through this facility and soon elsewhere," reports Tim Brink, former COO of UPDA Texas Trading, Inc, now CEO of Continental Fuels, Inc. (OTC BB: CFUL, CIQB.F) www.continetalfuels.com. "We have been working around the clock making the final preparations for this initial delivery, from the installation of a second pump to welding the lines to the barge delivery system. We have a great group of employees and vendors down here and the cooperation of the local US Coast Guard station was instrumental in the timely completion of the required final inspections."
"This subsidiary has now been perfectly positioned to grow the business and with the margins that have been established, the positive cash flow should be significant," continued Brink. "As we continue to develop the supply sources and refine the operation of this facility and acquire additional storage facilities, we are optimistic about being able to deliver 40,000 bbls/week in a very short time."
About UPDA
Universal Property Development and Acquisition Corporation (OTC BB: UPDA) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
Source: Universal Property Development and Acquisition Corporation
---------------------------------------------- Universal Property Development and Acquisition Corporation Jack Baker (Investor Relations) 561-630-2977 info*updac.com
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
posted
SVET(.34) SuperMag Update: 60,000 SuperMags a Year for China and Far East Creates a Super Future for Supervision
Mar 26, 2007 12:10:00 AM LOS ANGELES, CA -- (MARKET WIRE) -- 03/26/07 -- SuperVision Entertainment Inc: (PINKSHEETS: SVET) -- The company has initiated preliminary talks with a company interested in marketing the SuperMag electrical generator in the Far East.
Approximately ten countries, including China, would be involved in the marketing deal estimated to be in excess of $950 million dollars upon completion, and a huge residual interest in future years.
Early indications are that the company would require in excess of 60,000 SuperMags a year ranging in size from 10Kw to 300kw. The vast majority of which would be in the 100kw to 300kw range.
The SuperMag creates electrical energy by the manipulation of very powerful magnetic fields that are converted into electricity. This is potentially one of the most significant technical breakthroughs of the 21st century with enormous ramifications for the provision of power and the reliance on fossil fuels. The applications and the market for the SuperMag are enormous. Every structure in the world that requires heat and energy is a potential customer for the SuperMag.
Upon completion of the deal the company will make a formal announcement.
The development continues of the first production SuperMag models with some amazing breakthroughs in technology that are even surprising the inventors. This will require additional patent and industrial copyright protection. It is estimated that the final production version of the SuperMag will have various components covered by approximately 100 domestic and international patents, copyrights and industrial designs.
Safe Harbor Statement:
All statements other than statements of historical fact included in this press release are "forward-looking statements." The forward-looking statements, including statements about the Company's future, revenues and earnings, and all other forward-looking statements (i.e. future operational results and sales) are subject to assumptions and beliefs based on current information known to the Company and are factors that are subject to uncertainties, risks and other influences which are outside the Company's control, and which may yield results differing materially and substantially from those anticipated. All information is subject to change, deletion or insertion.
Contact: SuperVision Entertainment Inc. Email: Email Contact
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
quote:Originally posted by joejoe: Enjoy your daily postings JUICE.....
Thank joejoe I appreciate it. I hope it helps out . Good Luck
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Wink]](wink.gif)
