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AMZB(.06) in Early Negotiations With Major Pharmaceutical Companies
Joint Venture Agreement to Focus on Clinical Studies and Marketing of Company's Anti-HIV Drug, AMZ-0026 Mar 30, 2007 4:05:00 PM NEW YORK, NY -- (MARKET WIRE) -- 03/30/07 -- Amazon Biotech, Inc. (OTC BB: AMZB) (FRANKFURT: B2D) announced that it has secured the services of Mr. Stanley Fass to negotiate a joint venture agreement between Amazon Biotech and major pharmaceutical companies.
Amazon Biotech has entered in negotiations with major pharmaceutical companies for funding of future studies and marketing of the company's anti-HIV drug, AMZ0026 which has been shown to exhibit potential therapeutically beneficial effects on the immune system of immunodeficient HIV/AIDS patients, particularly with respect to elevation of CD4 levels in preliminary clinical case studies.
Mr. Fass had previously been with Intec Pharma Ltd. as vice president business development where he successfully negotiated a joint venture with Glaxo SmithKline (GSK). He also served as President of Perio Products, Ltd. for 12 years where he successfully negotiated joint venture agreements with Astra Pharmaceuticals, Procter & Gamble, Carter-Wallace, Colgate, Novartis, AL Pharma, IofI in Japan, amongst others.
Dr. Mechael Kanovsky, CEO of Amazon Biotech, said, "The negotiations are in early stages and there is no assurance that any of these negotiations will lead to a joint venture deal. However, we are pleased that a number of large pharmaceutical companies have shown preliminary interest in our phytopharmaceutical drug product."
About Amazon Biotech, Inc.
Amazon Biotech, Inc. is a natural plant pharmaceutical company, primarily developing immune modulator drugs. AMZ0026 is the company's first such drug, which is to be used for the treatment of HIV/AIDS. The company plans, upon funding, to initiate Phase I/II clinical studies of AMZ0026 in the near future, with an eventual goal of attracting a joint venture partner with a major pharmaceutical company in Phase III trials, or follow the FDA Fast Track program to market. All negotiations that are currently going on with major pharmaceutical companies are in the early stages and may not lead to any agreements or contracts. Amazon Biotech specializes in natural plant pharmaceutical drugs and is focused on bringing healthier pharmaceutical drugs to market.
"Safe-Harbor" Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, including statements regarding any potential sales of products as well as statements that include the words "believes," "expects," "anticipates," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Amazon Biotech, to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in Amazon Biotech's subsequent reports filed with the Securities and Exchange Commission under the Exchange Act. This press release speaks as of the date first set forth above and Amazon Biotech assumes no responsibility to update the information included herein for events occurring after the date hereof.
Contact: LC Group Rick Lutz (404) 261-1196
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EPOI(.16) Disburses Initial Payment as Part of the Acquisition of Mill Creek Developments Ltd. 3/30/2007
RENO, Nev., Mar 30, 2007 (*********wire via COMTEX News Network) -- EPOD International Inc. (the "Company," "EPOD") (OTCBB:EPOI) (Frankfurt:EDU), a Grid-Integrated, eco-power utility and electric power systems provider, announces that it has made the initial payment of $517,000 to Rene Dureault as part of the Acquisition of Mill Creek Developments Ltd.
L. Mark Roseborough President and CEO EPOD International Inc.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Statements about EPOD's future expectations, including future revenue, earnings, and transactions, as well as all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. EPOD intends that such forward-looking statements be subject to the safe harbors created thereby. These statements involve risks and uncertainties that are detailed from time to time in the Company's filings with the Securities and Exchange Commission, including, but not limited to, the Company's 10-KSB for year ended December 31, 2005 filed on or about April 17, 2006, and incorporated herein by reference.
About EPOD: EPOD is a Grid-Integrated, eco-power utility and electric power systems provider. The Company's operations include the engineering and construction of turn-key factories for solar panel production and material handling systems. Additionally, the Company has subsidiaries involved in the manufacturing of inverters, rectifiers, energy management systems, and solar panels. The Company's filings, including current financial reports, can be accessed through the EDGAR database at www.sec.gov.
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AFFI(.085) Announces Court's Grant of TD Ameritrade's Summary Judgment Motion Mar 30, 2007 4:27:00 PM
Copyright Business Wire 2007 COLUMBIA, S.C.--(BUSINESS WIRE)--
Affinity Technology Group, Inc. (OTCBB:AFFI) today announced that the United States Federal Court for the District of South Carolina Columbia Division (the "Court") has granted the summary judgment motion filed by TD Ameritrade in January 2007. In its summary judgment motion, TD Ameritrade requested the Court to dismiss the infringement claim for U.S. Patent No. 6,105,007 brought by Affinity through its subsidiary, decisioning.com, Inc., against TD Ameritrade. Based on the Court's Markman rulings from December 2006 concerning the interpretation of the meaning and application of the terms "remote interface" and "verification of identity," the Court granted TD Ameritrade's motion and dismissed the lawsuit.
Joe Boyle, Chairman, President and Chief Executive Officer, stated, "This ruling was consistent with the Court's ruling in our case against Federated that we announced several days ago. The basis of the Court's rulings stem from the interpretation and application of certain claim terms the Court interpreted and defined in the Markman Hearing last December. As we have previously stated, we believed that the Court's Markman rulings would probably necessitate an appeal to the U.S. Court of Appeals for the Federal Circuit. That appeal could not commence until the Court ruled on the summary judgment motions. Now we can immediately proceed with the appeals process, which we intend to vigorously pursue. HSBC has also filed a summary judgment motion on grounds similar to TD Ameritrade and Federated, and we anticipate receiving rulings by the Court on HSBC's motion soon."
About Affinity Technology Group, Inc.
Through its subsidiary, decisioning.com, Inc., Affinity Technology Group, Inc. owns a portfolio of patents that covers the automated processing and establishment of loans, financial accounts and credit accounts through an applicant-directed remote interface, such as a personal computer or terminal touch screen. Affinity's patent portfolio includes U. S. Patent No. 5,870,721C1, No. 5,940,811C1, and No. 6,105,007C1.
Forward-looking statements in this news release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We cannot offer any assurances that Affinity will prevail on its claims of patent infringement against third parties or that such claims will result in monetary damages to Affinity. Investors are cautioned that our business is subject to several substantial risks and uncertainties, including the Company's very limited capital resources and the possibility that we may be unable to raise additional capital in amounts sufficient to permit us to continue operations; the risk that we may be unable to obtain favorable claims interpretations through post Markman hearing motions and/or appeals; the risk that we may lose all or part of the claims covered by our patents as a result of challenges to our patents; the risk that our patents may be subject to additional reexamination by the U.S. Patent and Trademark Office or challenge by third parties; the results of ongoing litigation, including patent litigation and our ongoing lawsuit with Temple Ligon; and unanticipated costs and expenses affecting the Company's cash position. If the Company is not able to raise additional capital when needed or becomes obligated to pay more than an insignificant amount in connection with the Temple Ligon litigation, it may be forced to consider alternatives for winding down its business, which may include offering its patents for sale or filing for bankruptcy protection. These and other factors may cause actual results to differ materially from those anticipated. These factors are discussed in greater detail in the Company's filings with the Securities and Exchange Commission. The Company is not responsible for updating the information contained in this press release beyond the publication date, or for changes made to this document by wire services or Internet Services.
Source: Affinity Technology Group, Inc.
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PYTM(.132)Reports Results for the Quarter and Year Ended December 31, 2006
Porta Systems Corp. (OTC.BB:PYTM) today reported operating income from continuing operations for the quarter ended December 31, 2006 of $621,000 compared to an operating loss from continuing operations of $894,000 for the quarter ended December 31, 2005. The Company recorded net income from continuing operations of $256,000, $0.03 per share (basic and diluted), versus a net loss from continuing operations of $1,045,000, ($0.11) per share (basic and diluted), for the quarters ended December 31, 2006 and 2005, respectively. Net income for the quarter ended December 31, 2006, including a loss from discontinued operations of $84,000, was $172,000, $0.02 per share (basic and diluted), compared to net loss of $1,387,000, including a loss from discontinued operations of $342,000, ($0.13) per share (basic and diluted), for the quarter ended December 31, 2005.
The Company reported operating income from continuing operations for the year ended December 31, 2006 of $3,814,000 compared to operating income from continuing operations of $3,066,000 for year ended December 31, 2005, an increase of 24%. The Company recorded net income from continuing operations of $2,511,000, $0.25 per share (basic and diluted) versus net income from continuing operations of $1,855,000, $0.18 per share (basic and diluted) for the year ended December 31, 2006 and 2005, respectively. Net income for the year ended December 31, 2006, after a loss from discontinued operations of $329,000, was $2,182,000, $0.22 per share (basic and diluted), compared to net income of $810,000, after a loss from discontinued operations of $1,045,000, $0.08 per share (basic and diluted).
Sales from continuing operations were $7,779,000 for the quarter ended December 31, 2006 versus $5,315,000 for the quarter ended December 31, 2005, an increase of approximately $2,464,000 (46%). Copper Connection/Protection sales were $6,217,000 for the quarter ended December 31, 2006 versus $4,122,000 for the quarter ended December 31, 2005, an increase of $2,095,000 (51%). The increase for the quarter reflects continuing increased sales volume to British Telecommunications as a result of its continuing rollout of DSL lines, and its implementation of the local loop unbundling program, to enable third party providers of telephone service to gain access to British Telecommunications’ systems. Signal Processing sales for the quarter ended December 31, 2006 were $1,561,000 versus $1,193,000 for the quarter ended December 31, 2005, an increase of $368,000 (31%), the result of increased military business in the second half of 2006.
Sales from continuing operations were $32,818,000 for the year ended December 31, 2006 versus $27,819,000 for the year ended December 31, 2005, an increase of approximately $5,000,000 (18%). Copper Connection/Protection sales for the year ended December 31, 2006 were $27,526,000 versus $22,109,000 for the year ended December 31, 2005, an increase of $5,417,000 (25%). This increase in sales for the year is the result of increased sales volume to British Telecommunications as a result of its continuing rollout of DSL lines, and its implementation of the local loop unbundling program, demanded by regulators in the United Kingdom to enable third party providers of telephone service to gain access to British Telecommunications’ systems. Signal Processing sales for the year ended December 31, 2006 were $5,292,000 versus $5,710,000 for the year ended December 31, 2006, a decrease of $418,000 (7%). This decrease in Signal Processing sales for the year resulted primarily from sluggish order rates from the military sector during the first six months of 2006. In addition, Signal Processing revenue for the year ended December 31, 2005 was positively impacted by shipments to customers from 2004 backlog that were not shipped in 2004 due to cash constraints which then existed.
The overall gross margin from continuing operations was 31% for the quarter ended December 31, 2006, compared to 29% for the quarter ended December 31, 2005. Gross margin for the year ended December 31, 2006 was 33% compared to 37% for the year ended December 31, 2005. This decrease for the year was attributable to a change in products sold to British Telecommunications (from the higher gross margin DSL products to the lower margin local loop unbundling products), short-term manufacturing inefficiencies at our assembly facility in Mexico during the second quarter, and additional freight costs associated with on-time deliveries to customers.
Operating expenses for the quarter and year ended December 31, 2006 decreased by $670,000 (27%) and $336,000 (5%), respectively, when compared to the fourth quarter of 2005 and the year ended December 31, 2005. The decrease in the fourth quarter and the year resulted from the expending of restructuring costs of $877,000 in the fourth quarter of 2005. These costs were for investment banking, legal and accounting fees resulting from a requirement of our senior debt holder that we restructure our business. Also, in the fourth quarter of 2005 we settled a lease agreement in the United Kingdom for $715,000. These decreases were partially offset by increased spending on research and development of new products for our Line Connection and Protection division of approximately $146,000.
Interest expense, net, increased for the year by $131,000 primarily due to imputed interest on the amortization of a long term liability.
The Company’s Copper Connection/Protection business unit had an operating profit of $731,000 and $4,688,000 during the fourth quarter and the year ended December 31, 2006, respectively. The Signal Processing unit had an operating profit of $573,000 and $1,640,000 during the fourth quarter and the year ended December 31, 2006, respectively.
On February 7, 2007, Cheyne Special Situations Fund L.P. purchased our senior debt of approximately $23,400,000 from SHF IX, LLC and subsequently extended the maturity of the senior debt to October 1, 2007. We are engaged in negotiations with respect to a restructure of our senior and subordinated debt, and we anticipate that any such restructure will result in a very significant dilution in the interests of the holders of our common stock and will require the approval of our common stock holders and the holders of our subordinated debt. If we are unable to obtain the necessary consent, we may be unable to effect a restructure of our debt. If the senior debt holder does not extend the maturity date of our obligations or demands payment of all or a significant portion of our obligations due to the senior lender, we will not be able to continue in business.
Porta Systems Corp. designs, manufactures, markets and supports communication equipment used in telecommunications, video and data networks worldwide.
Statements in this press release may be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections about the Company’s business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in the Company’s filings with the Securities and Exchange Commission filings, including the Risk Factors included in the Form 10-K for the year ended December 31, 2006 and the Management’s Discussion and Analysis of Financial Conditions and Results of Operations in the Form 10-K for the year ended December 31, 2006. In addition, general industry and market conditions and growth rates, and general economic conditions could affect such statements. Any forward-looking statements speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statements to reflect events or circumstances after the date of this release.
Porta Systems Corp. and Subsidiaries
Condensed Consolidated Statement of Operations
Quarter and Year ended December 31,
(in thousands except per share amounts)
Quarter ended December 31, Year ended December 31,
2006 2005 2006 2005
Sales $ 7,779 $ 5,315 $ 32,818 $ 27,819
Gross profit 2,388 1,543 10,834 10,422
Total operating expenses 1,767 2,437 7,020 7,356
Operating income (loss) 621 (894) 3,814 3,066
Interest expense, net of interest and other income (339) (97) (1,185) (1,051)
Income (loss) before income taxes 282 (991) 2,629 2,015
Income tax expense (26) (54) (118) (160)
Income (loss) from continuing operations 256 (1,045) 2,511 1,855
Discontinued operations: Loss from discontinued operations (84) (342) (329) (1,045)
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DPAC(.105) Technologies Reports Financial Results for the Fourth Quarter and Year End of Fiscal Year 2006
Mar 30, 2007 4:30:00 PM Copyright Business Wire 2007 HUDSON, Ohio--(BUSINESS WIRE)--
DPAC Technologies Corp. (OTCBB:DPAC), a leader in device networking and connectivity solutions, today reported results for its fourth quarter and year ended December 31, 2006.
These results include the combined operations of DPAC Technologies Corp. and QuaTech, Inc., which combined on February 28, 2006 as previously announced. As a result of the merger, QuaTech has become a wholly-owned subsidiary of DPAC. For accounting purposes, the transaction is considered a "reverse merger" under which QuaTech is considered the acquirer of DPAC. Accordingly, the purchase price was allocated among the fair values of the assets and liabilities of DPAC, while the historical results of QuaTech are reflected in the results of the combined company (the "Company"). The results of operations are those of QuaTech prior to the merger date, and consolidated QuaTech and DPAC after the merger date of February 28, 2006.
Fourth Quarter Operating Results
For the fourth quarter of 2006, net sales were $3.2 million, up 4% from net sales of $3.1 million in the fourth quarter of 2005, and down 18% from net sales of $3.9 million in the third quarter of 2006. The Company reported an operating loss of $165,000 as compared to an operating loss of $59,000 for the fourth quarter of 2005 and an operating profit of $347,000 for the third quarter of 2006. The Company reported a net loss for the current year fourth quarter of $498,000 as compared to a net loss of $154,000 for the prior year's fourth quarter, and a net profit of $39,000 for the third quarter of 2006. Total operating expenses incurred in the fourth quarter of 2006 of $1.4 million increased by $1,000 over the previous year period, due primarily to increases in G&A expenses of $44,000, amortization expense for intangible assets of $123,000 and offset by a reduction in sales and marketing expenses of $184,000. Interest expense of $375,000 for fourth quarter of 2006 included non-cash charges of $94,000 for the accretion of success fees, $36,000 for the amortization of deferred financing costs, and $91,000 for the amortization of the discount on subordinated debt. Additionally, the company recorded a non-cash gain of $55,000 for the fair value adjustment of the liability for warrants.
Twelve Months Operating Results
Net sales for the year ended December 31, 2006 were $13.8 million, up 30% from net sales of $10.5 million for the year ended December 31, 2005. The Company reported an operating profit of $228,000 for 2006 as compared to $495,000 for 2005. The Company's net loss for the current year totaled $1.0 million as compared to a net loss of $114,000 for the prior year. Interest expense of $1.5 million for fiscal year 2006 included non-cash charges totaling $837,000, for the amortization of deferred financing charges discounts, the accretion of success fees and amortization of the discount on the subordinated debt.
Balance Sheet Summary
At December 31, 2006, 2006, DPAC had total assets of $12.1 million, including cash and cash equivalents of $38,000. This compares to total assets of $7.6 million at December 31, 2005, which included $11,000 in cash and cash equivalents. As a result of the merger, the Company recorded goodwill and intangible assets of approximately $5.1 million.
Comments
Chief Executive Officer and President Steve Runkel commented, "Our fourth quarter results continued our trend of year over year revenue growth, resulting in a 30% growth rate for fiscal year 2006 with both the Device Connectivity and the Device Networking product lines contributing to that growth. Our progress this year has solidified our position as a market leader in the industrial, embedded 802.11 market. This position was recognized by being named to M2M Magazine's Top M2M 100."
Mr. Runkel continued: "The embedded market is characterized by extended development and roll out schedules by our OEM customers. Much of our work over the past year has been focused on securing relationships with new OEM customers, developing technology solutions to meet their requirements, and assisting them with their efforts to bring those products to market. We have several new customers who have either just introduced their products to market, or are positioned to do so over the next several quarters. This should result in continued growth for Device Networking product line."
"We are also continuing with our efforts to develop relationships with key partners in our market. During 2006 we announced relationships with Digi Key and Ingram Micro Canada. We have recently announced new relationships with both Mouser and Pana-Pacific. These relationships are vital to increasing the exposure for both of our product lines and supporting our market leadership and growth objectives."
About DPAC Technologies
DPAC Technologies provides embedded wireless networking products for machine-to-machine communication applications. DPAC's Airborne(TM) and AirborneDirect(TM) wireless products are used by major OEMs in the transportation, instrumentation and industrial control, homeland security, medical diagnostics and logistics markets to provide remote data collection and control. DPAC Technologies is based in Hudson, OH. The Company's web site address is www.dpactech.com. Information concerning DPAC is filed by DPAC with the SEC and is available on the SEC website, www.sec.gov.
About QuaTech
QuaTech, Inc., a wholly-owned subsidiary of DPAC, delivers high performance device networking & connectivity solutions to help companies improve their bottom line performance. Quatech enables reliable machine-to-machine (M2M) communications via secure 802.11 wireless or traditional wired networks with industrial grade (hardened) embedded radios, modules, boards and external device servers and bridges. For local and mobile connections, Quatech serial adapters provide secure connectivity and port expansion via any interface option. Satisfied customers rely on our unique combination of performance and support to improve bottom line performance through real-time remote monitoring & control, streamlined systems and lower total cost of ownership (TCO). Quatech markets its products through a global network of distributors, resellers, systems integrators and original equipment manufacturers (OEMs). Founded in 1983, Quatech is headquartered in Hudson, Ohio, and merged with DPAC Technologies, Inc. in February 2006. www.quatech.com.
Forward-Looking Statements
This press release includes forward-looking statements. You can identify these statements by their forward-looking words such as "may," "will," "expect," "anticipate," "believe," "guidance," "estimate," "intend," predict," and "continue" or similar words or any connection with any discussion of future events or circumstances or of management's current estimates or beliefs. Forward-looking statements are subject to risks and uncertainties, and therefore results may differ materially from those set forth in those statements. More information about the risks and challenges faced by DPAC Technologies Corp. is contained in the Securities and Exchange Commission filings made by the Company on Form S-4, 10-K, 10-Q or 10-QSB and 8-K. DPAC Technologies Corp. specifically disclaims any obligation to update or revise any forward-looking statements whether as a result of new information, future developments or otherwise.
DPAC TECHNOLOGIES CORP. Condensed Consolidated Balance Sheet Information (Unaudited) (in 000's)
December 31, December 31, 2006 2005 ------------ ------------ CURRENT ASSETS: Cash and cash equivalents $38 $11 Accounts receivable, net 1,421 1,330 Inventories 1,500 1,633 Prepaid expenses and other current assets 43 119
------------ ------------ Total current assets 3,002 3,093
Property, net 413 282 Goodwill and intangible assets 8,578 4,196 Other assets 81 - ------------ ------------ TOTAL $12,074 $7,571 ============ ============
CURRENT LIABILITIES: Revolving credit facility $1,361 $1,175 Current portion of long-term debt 2,097 1,125 Accounts payable 1,488 1,284 Accrued restructuring costs - current 392 - Other accrued liabilities 514 591 ------------ ------------ Total current liabilities 5,852 4,175
Deferred tax liability - 324 Accrued restructuring costs 330 - Long-term debt, net of current portion 2,770 1,773
Net stockholders' equity 3,122 1,299
------------ ------------ TOTAL $12,074 $7,571 ============ ============ DPAC TECHNOLOGIES CORP. Condensed Consolidated Statement of Income ( Unaudited ) (in 000's)
For the quarter ended: For the year ended: December 31, December 31, ----------------------- -------------------- 2006 2005 2006 2005 ------------ ---------- ---------- ---------
REVENUE $3,184 $3,072 $13,740 $10,546
COST OF GOODS SOLD 1,908 1,691 7,705 5,688 ------------ ---------- ---------- ---------
GROSS PROFIT 1,276 1,381 6,035 4,858
OPERATING EXPENSES Sales and marketing 501 685 2,181 2,000 Research and development 318 300 1,077 833 General and administrative 499 455 2,063 1,530 Amortization of intangible assets 123 - 408 - Restructuring charges - - 78 - ------------ ---------- ---------- --------- Total operating expenses 1,441 1,440 5,807 4,363
INCOME FROM OPERATIONS (165) (59) 228 495
OTHER (INCOME)EXPENSES: Interest expense 375 162 1,474 598 Fair Value adjustment for warrant liability (55) - - - Miscellaneous expense - 9 - 50 ------------ ---------- ---------- --------- TOTAL OTHER EXPENSES 320 171 1,474 648
------------ ---------- ---------- --------- INCOME (LOSS) BEFORE INCOME TAXES (485) (230) (1,246) (153)
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VSPC(.42) Announces Fourth Quarter and Year-End Financial Results Mar 30, 2007 4:49:00 PM PASADENA, Calif., March 30 /PRNewswire-FirstCall/ -- VIASPACE Inc. (OTC Bulletin Board: VSPC), a company dedicated to commercializing proven technologies from NASA and the US Department of Defense, announced today financial results for the quarter and year ended December 31, 2006.
Revenue for the fourth quarter of 2006 was $292,000, as compared with $103,000 in the same quarter of 2005, an increase of $189,000. Gross profit for the fourth quarter of 2006 was $53,000 compared with $6,000 for the comparable quarter of 2005.
Operating expense for the fourth quarter of 2006 was $1,850,000 compared to $934,000 in the same quarter of 2005. Included in operating expenses for the fourth quarter of 2006 was $586,000 of stock compensation and warrant expense related to the Company's January 1, 2006 adoption of Statement of Financial Accounting Standards No. 123(R), "Share-Based Payments". The comparable quarter for 2005 included $198,000 of stock compensation and warrant expense. Fourth quarter of 2006 operating expense consisted of $306,000 in research and development expense and $1,544,000 in selling, general and administrative expense. In the fourth quarter of 2005, there was $185,000 in research and development expense and $749,000 in selling, general and administrative expense.
Loss from operations for the fourth quarter of 2006 was $1,797,000 compared to $928,000 in the same quarter of 2005.
Other income/expense including minority interest in consolidated subsidiaries was a loss of $3,462,000 for the fourth quarter of 2006 compared to loss of $124,000 for the same period in 2005. The fourth quarter of 2006 included expense adjustments, net, of $3,421,000 representing adjustments related to the derivative nature of convertible debentures.
The convertible debenture transaction was restructured on March 8, 2007 whereby the existing convertible debentures were converted to common stock and additional cash proceeds of $910,800 were received. As a result of the restructuring, the Company expects to record an increase to stockholders' equity of approximately $5,900,000 during the first quarter of 2007. See the Company's Form 10-KSB filed on March 30, 2007 for more detailed information.
Net loss was $5,259,000 for the fourth quarter of 2006, compared to net loss of $1,052,000 for the same quarter of 2005. The Company's loss per basic and fully diluted share was $.02 during the fourth quarter of 2006 and less than $0.01 in the fourth quarter of 2005.
Revenue for the year ended December 31, 2006 was $962,000, as compared with $432,000 in 2005, an increase of $530,000. Gross profit in 2006 was $196,000 compared with $77,000 for 2005.
Operating expense for 2006 was $6,415,000 compared to $2,408,000 in 2005. Included in operating expenses was $1,959,000 of stock compensation and warrant expense in 2006 compared with $280,000 in 2005. 2006 operating expense consisted of $1,020,000 in research and development expense and $5,395,000 in selling, general and administrative expense. In 2005, there was $630,000 in research and development expense and $1,778,000 in selling, general and administrative expense.
Loss from operations in 2006 was $6,219,000 compared to $2,331,000 in 2005.
Other income/expense including minority interest in consolidated subsidiaries was a loss of $3,382,000 for 2006 compared to income of $20,000 for the same period in 2005. The fourth quarter of 2006 included expense adjustments, net, of $3,421,000 representing adjustments related to the derivative nature of convertible debentures. The Company's convertible debentures were restructured on March 8, 2007 as noted above.
Net loss was $9,601,000 in 2006, compared to a net loss of $2,311,000 in 2005. The Company's loss per basic and fully diluted share was $0.03 for 2006 and $0.01 for 2005.
Commenting on fourth quarter and year-end results, Dr. Carl Kukkonen, Chief Executive Officer of VIASPACE Inc., said, "The fourth quarter and full year of 2006 marks increased revenue for VIASPACE primarily due to our subsidiary VIASPACE Security Inc. reporting revenues on its contract with L-3 Communications, Security and Detection Systems (L-3). This contract is to provide sensor data fusion software and VIASPACE Security's SHINE inference engine technology for the Advanced Container Security Device (ACSD) project, under a contract awarded to L-3 by the US Department of Homeland Security. The ACSD project aims to develop the next generation of maritime cargo container security.
Dr. Kukkonen continued, "In addition, during 2006, our subsidiary Direct Methanol Fuel Cell Corporation (DMFCC) achieved milestones and recognized revenues related to the design, production and test of prototype fuel cell cartridges. Revenue was also generated from our subsidiary Ionfinity's continuing fulfillment of US Navy, US Air Force and US Army contracts."
Dr. Kukkonen added, "We also continue to invest in R&D for commercial products. We have also increased spending in sales and marketing expenses to improve customer awareness of our products. It has been announced that direct methanol fuel cells are being developed for portable electronic applications by leading OEMs. Industry sources are expecting these products to be in the marketplace in 2007/2008."
Dr. Kukkonen concluded, "We believe that the restructuring of the convertible debenture into straight equity is favorable to the Company as it removes debt from our balance sheet and converts it to stockholders' equity."
About VIASPACE: Originally founded in 1998 with the objective of transforming proven space and defense technologies from NASA and the Department of Defense into hardware and software solutions that solve today's complex problems, VIASPACE benefits from important patent and software licenses from Caltech, which manages NASA's Jet Propulsion Laboratory. For more information, please visit our website at http://www.VIASPACE.com, or contact for Investor Relations, Dr. Jan Vandersande, Director of Communications at 800-517-8050, or IR*VIASPACE.com.
This news release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to future events or our future performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Such factors include the risks outlined in our periodic filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-KSB for the fiscal year ended December 31, 2006, as well as general economic and business conditions, the ability to acquire and develop specific projects and technologies, the ability to fund operations, changes in consumer and business consumption habits, and other factors over which VIASPACE has little or no control.
SOURCE VIASPACE Inc.
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-------------------- The difference between genius and stupidity is that genius has its limits
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BLRS(.43) Announces: Official Release of Cholessra Mar 30, 2007 4:59:00 PM
VANCOUVER, BC and GUANGZHOU, CHINA -- (MARKET WIRE) -- 03/30/07 -- BioLife Remedies Inc. (PINKSHEETS: BLRS)
Bio Life Remedies, Inc. is pleased to announce that CHOLESSRATM will be available for sale within 30 days. CHOLESSRATM is a herbal product developed by the company for people with a high cholesterol level. People with a high level of cholesterol in the blood are at high risk of cardiovascular diseases (heart disease and stroke).
The President and CEO of the Company, Jack Guo commented, "CHOLESSRATM is developed from a century-old TCM herbal formula used traditionally for heart problems; our researchers did extensive research and tests on the formula and identified the herbs that are effective in lowering Cholesterol. After decades of effort, we have refined the century-old formula into a herbal formulation for the condition of high cholesterol. Currently we are in the final stage of getting ready to distribute the product into the market." With the recent business report released by LehmanBrown stating an estimated 83.5 million USD valuation based on the two diabetes products Betatrol tm and Zutrol tm. President of BioLife Jack Guo is excited about the announcement of this quality new product and looks forward expanding the line of TCM products over the coming year. For a copy of the recent business valuation report of BioLife please visit the official company website at www.blfrproducts.com
About Bio Life Remedies, Inc
BIO LIFE REMEDIES, INC. combines Traditional Chinese Medicine and Western academic research and development practices with the newest scientific technology to produce effective medical and health-care products to combat serious diseases. The Bio Life Group has developed 108 master medical formulas to treat various diseases including diabetes, prostateria, osteoporosis, cerebrovascular disease, cardiac vascular disease, hypertension, menopausal syndrome, and sexual disorders in men and women. Please visit http://www.blfrproducts.com for more information.
Forward-Looking Statements
You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will," "anticipates," "believes," "plans," "goal," "expects," "future," "intends," and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release. For further information about Bio Life Remedies Inc. please refer to its Web site at http://www.blfrproducts.com
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PYDS(.14) Reports 2006 Results Revenue Up 114% from Prior Year
Mar 30, 2007 5:00:00 PM Copyright Business Wire 2007 SAN ANTONIO--(BUSINESS WIRE)--
Payment Data Systems, Inc. (OTCBB:PYDS), an integrated electronic payments solutions provider, today announced financial results for the year ended December 31, 2006.
Revenues increased 114% to $2,522,572 for the year ended December 31, 2006 from $1,180,753 for 2005. Operating loss improved to $1,251,725 for 2006 from $1,639,982 in 2005. Net loss for the year ended December 31, 2006 was $1,396,338, or $0.03 per share, compared to net loss of $1,195,690, or $0.04 per share, for 2005. The change in net loss from the prior year was primarily attributable to a gain of $911,350 in December 2005 on the sale of our bills.com domain name and trademark.
Commenting on the results for the year, Michael R. Long, Chairman and Chief Executive Officer of Payment Data Systems, said, "We are pleased to see the triple-digit growth in revenue and the improvement in our operating results. As announced previously, we are now debt-free and poised to continue the progress we have been making."
Long added, "A more detailed discussion of our significant accomplishments during 2006 was included in my recent letter to shareholders, which is available for viewing online at http://www.paymentdata.com/2006ShareholderLetter.htm."
For further information regarding our financial results for 2006, please read our 10-KSB, which was filed today.
About Payment Data Systems, Inc.
Payment Data Systems is an integrated payment solutions provider to merchants and billers. The organization provides an extensive set of products to deliver world-class payment acceptance. Payment Data has solutions for merchants, billers, banks, service bureaus and card issuers. The strength of the company is its ability to offer specifically tailored solutions for card issuance, payment acceptance and bill payments.
Payment Data is the owner of the electronic bill payment portal, http://www.billx.com, which has the ability to transmit payments to thousands of national billers.
Payment Data Systems Inc. (OTCBB:PYDS) is a registered ISO/MSP of MetaBank.
Payment Data's intellectual property includes U.S. Patent Number 7,021,530 that relates to bill payments made with debit and stored value cards.
For additional information, visit www.paymentdata.com. Contact Michael Long for Investor Relations information at 210.249.4040 or email at ir*paymentdata.com.
FORWARD-LOOKING STATEMENTS DISCLAIMER: Except for the historical information contained herein, the matters discussed in this release include certain forward-looking statements, which are intended to be covered by safe harbors. Those statements include, but may not be limited to, all statements regarding our and management's intent, belief and expectations, such as statements concerning our future and our operating and growth strategy. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, the factors detailed from time to time in our filings with the Securities and Exchange Commission. One or more of these factors have affected, and in the future could affect our businesses and financial results in the future and could cause actual results to differ materially from plans and projections. We believe that the assumptions underlying the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to our management. We assume no obligation to update any forward-looking statements, except as required by law.
Source: Payment Data Systems, Inc.
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AFLH(.20) Announces Shareholder Information Call Mar 30, 2007 5:56:00 PM Copyright Business Wire 2007 HOUSTON--(BUSINESS WIRE)--
Amstar Financial Holdings, Inc. (Pink Sheets:AFLH) is conducting an informational conference call on Wednesday, April 4th, 2007, at 12:00, 1:00, and 5:00 (CDT) to discuss the past, present, and future of Amstar and why we believe the best days are ahead! Interested parties can connect by calling 605-772-3001 and enter meeting number 246439#. If there are specific questions you would like answered, email them to stock*amstarmtg.com a minimum 24 hours prior to the call. Call space is limited so please be on time. Afterwards a recording of the call will be released on www.amstarfinance.com for shareholders to listen at their leisure.
About Amstar Financial Holdings:
Amstar's major subsidiary is Amstar Mortgage Corporation, a national mortgage banking and brokering company. Amstar currently employs approximately 800 people and is licensed to operate branch offices in 31 states and the District of Columbia.
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such proclamations about the Company's future expectations, including future revenues and earnings, technology effectiveness and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
Source: Amstar Financial Holdings, Inc.
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SHRN .016 10K out today on time. Revs. are up 300% over 2005. Balance sheet much improved in 2006. O.S. increased only 12%. Market cap. one year ago was 20 million, now we are * 6.3 million down 69%. P.R. on Monday explaining this and SHRN will explode.
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AVTX(.024) Signs LOI with Tieli Xiaoxinganlin Frog Breeding Co., Ltd. Mar 30, 2007 8:46:00 PM Copyright Business Wire 2007 NEW YORK--(BUSINESS WIRE)--
Advance Technologies, Inc. (OTCBB:AVTX) ("AVTX") (the "Company") has signed a Letter of Intent to acquire Tieli Xiaoxinganlin Frog Breeding Co., Ltd., a company registered in the People Republic of China that is a wholly owned subsidiary of American SXAN Biotech, Inc. ("SXAN"), a Delaware Corporation, on Jan. 23, 2007. The proposed transaction would result in AVTX being controlled by SXAN, and is expected to be accounted for as a "reverse acquisition."
The closing of the merger is contingent on approval from the Board of Directors of AVTX and SXAN along with the satisfactory exchange of due diligence materials between the two parties.
"The acquisition merger of SXAN by AVTX is the first step in the reorganization plan adopted by AVTX Board of Directors, December of 2006. The acquisition of SXAN will add to shareholder value while providing development capital for current operations. Pursuant to the letter of intent, AVTX's present operations would be sold to Gary E. Ball and possibly others for its appraised fair market value." stated Mr. Gary E. Ball, CEO of AVTX.
"We believe once we close the merger with AVTX, SXAN will be in a prime position to access the US capital markets and therefore be one step closer toward its ultimate goal of becoming the leading frog breeding company in Asia," stated Mr. Feng Zhenxing, Chairman and CEO of Tieli Xiaoxinganlin Frog Breeding Co., Ltd."
ABOUT Advance Technologies, Inc. (Other OTC: AVTX - News)
Advance Technologies, Inc. engages in the development and license of infrared imaging systems for commercial market applications. It offers enhanced vision systems, infrared security systems, recreational vehicle systems, and medical systems for the security, medical, and transportation markets in the United States. Advance Technologies, Inc. also offers a range of consulting services. The company was founded in 1969 as PWB Industries, Inc. It changed its name to Advance Technologies, Inc. in 1997. The company is based in The Woodlands, Texas.
ABOUT Tieli Xiaoxinganlin Frog Breeding Co. Ltd. (SXAN)
The company, located in Tilie, Yichun City of Helongjiang province, was registered under the law of the Republic of China. After 7 years of research and development, the company has become one of the first enterprises with genetic breeding technology for China's forest frogs. With this technology, the company have applied and been granted national patents for forest frog-derived nutritional supplemental products, including wines and tonics.
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties. In such instances, actual results could differ materially as a result of a variety of factors including the risks associated with the effect of changing economic conditions at home and abroad, variations in cash flow, reliance on collaborative retail partners, and on new product development, variations in new product and service development, risks associated with rapid technological change, and potential of introduced or undetected flaws and defects in products and services and other risk factors detailed in forms filed with the Securities and Exchange Commission from time to time.
Source: Advance Technologies, Inc.
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PYDS(.14) Form 10-KSB Available for Viewing Monday Morning
Mar 30, 2007 8:03:00 PM Copyright Business Wire 2007 SAN ANTONIO--(BUSINESS WIRE)--
Payment Data Systems, Inc. (NASDAQ OTCBB:PYDS), an integrated electronic payments solutions provider, today announced the filing of its Form 10-KSB for the year ended December 31, 2006 was delayed due to a technical problem with the company that provides edgarization services to PDS.
While our Form 10-KSB was received and accepted by the SEC today, a technical problem with our EDGAR filing vendor caused the filing to miss the 5:30 p.m. EDT cut-off time so it received an official filing date of April 2. Accordingly, our Form 10-KSB will not be available for viewing online at www.sec.gov until 6:00 a.m. EDT on Monday.
About Payment Data Systems, Inc.
Payment Data Systems is an integrated payment solutions provider to merchants and billers. The organization provides an extensive set of products to deliver world-class payment acceptance. Payment Data has solutions for merchants, billers, banks, service bureaus and card issuers. The strength of the company is its ability to offer specifically tailored solutions for card issuance, payment acceptance and bill payments.
Payment Data is the owner of the electronic bill payment portal, http://www.billx.com, which has the ability to transmit payments to thousands of national billers.
Payment Data Systems Inc. (OTCBB:PYDS) is a registered ISO/MSP of MetaBank.
Payment Data's intellectual property includes U.S. Patent Number 7,021,530 that relates to bill payments made with debit and stored value cards.
For additional information, visit www.paymentdata.com. Contact Michael Long for Investor Relations information at 210-249-4040 or email at ir*paymentdata.com.
FORWARD-LOOKING STATEMENTS DISCLAIMER: Except for the historical information contained herein, the matters discussed in this release include certain forward-looking statements, which are intended to be covered by safe harbors. Those statements include, but may not be limited to, all statements regarding our and management's intent, belief and expectations, such as statements concerning our future and our operating and growth strategy. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, the factors detailed from time to time in our filings with the Securities and Exchange Commission. One or more of these factors have affected, and in the future could affect our businesses and financial results in the future and could cause actual results to differ materially from plans and projections. We believe that the assumptions underlying the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to our management. We assume no obligation to update any forward-looking statements, except as required by law.
Source: Payment Data Systems, Inc.
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PFSD(.11) Seeks Pool Sales Reps for Innovative, EPA-Registered, Chlorine-Free Pool Treatment System March 31, 2007 - 3:01 PM EDT Pacific Sands, Inc. (OTCBB: PFSD) is conducting a nation-wide search for hard working individuals with a successful track record in outside sales to act as representatives for its Rain Forest Blue and ecoONE® lines of chlorine-free (not biguanide) pool care products.
Rain Forest Blue is a highly unique product that is EPA-registered both as a bactericide and algicide (algaecide) in one, easy to use, low-maintenance solution.
Established pool and spa industry sales representatives should consider the advantages of representing the ecoONE and Rain Forest Blue pool and spa system lines:
- Generous territories, sales commissions and incentives available to qualified applicants.
- Well established products with thousands of existing retail customers (ecoONE spa product is included with over 15,000 US-manufactured spas annually)
- 1,000s of 'warm' leads available
- Aggressive marketing & sales support (brochures, customer mailings, cold-calls) provided by company
- access to advanced, integrated order entry, inventory, CRM and commission tracking system.
- estimated $40million market potential for pool products alone!
- Industry-leading product technical support.
Candidates for these positions must possess the following:
-- A high level of motivation -- Desire to achieve and exceed sales goals -- A strong sense of relationship building -- Excellent sales, communication, and people skills
Millions of pool owners, dealers, and pool service companies across the country are looking for chlorine alternatives -- shouldn't you?
Interested parties should contact Rob Krug, marketing director, Pacific Sands, Inc. at 877-492-8123 (Monday - Friday 9AM - 5PM central) or email: sales*pacificsandsinc.com
Additional information on Pacific Sands and its product lines is available at: www.pacificsandsinc.com.
About Pacific Sands
Pacific Sands is publicly traded on the NASDAQ OTCBB and has demonstrated quarter over same revenue growth for the past 9 consecutive quarters. The company's core ecoONE® product lines are nontoxic and incorporate a proprietary combination of blended botanicals, pure mineral extracts and "tuned" enzyme technologies to deliver earth, health and kid-safe alternatives for household cleaning, and pool and spa maintenance.
Safe Harbor Act Disclaimer
The statements contained in this release and statements that the company may make orally in connection with this release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected in the forward-looking statements, since these forward-looking statements involve risks and uncertainties that could significantly and adversely impact the company's business. Therefore, actual outcomes and results may differ materially from those made in forward-looking statements.
WHEAT RIDGE, CO -- (MARKET WIRE) -- 04/02/07 -- GeneThera, Inc. (OTCBB: GTHA) today announced that on Thursday March 29, 2007, a federal judge ruled that the federal government must allow meatpackers to test their animals for Mad Cow Disease. Kansas meatpacker Creekstone Farms Premium Beef wants to test all of its cows for the disease, a move that larger companies feared. If Creekstone is allowed to advertise its meat as tested and safe it could essentially force the larger companies to test also.
Commenting on the news Dr. Tony Milici CEO of GeneThera said, "We are very encouraged and excited by Judge Robertson's decision. We believe that this ruling is a critical first step to finally determine the true extent of Mad Cow Disease in the US. Allowing private companies to test for Mad Cow Disease will also ensure greater transparency in the testing process and better access to information for the consumers."
U.S. District Judge James Robertson ruled that the government does not have the authority to regulate the test. Robertson put his order on hold until the government can appeal. If the government does not appeal by June 1, 2007, he stated the ruling would take effect.
The Agriculture Department currently regulates the test and administers it to about 1 percent of slaughtered cows for the disease. The department threatened Creekstone with prosecution, if it tested all of its animals.
ABOUT GENETHERA, INC.:
GeneThera, Inc. is a molecular biotechnology company located in Wheat Ridge, CO. The Company provides genetic diagnostic solutions for the veterinary and agricultural industries with future plans to include the health-care industry. The Company's proprietary diagnostic solution is based on a genetic expression assay, GEA(TM), a protocol designed to function on a highly automated Fluorogenic PCR platform. This platform enables GeneThera to offer tests that are presently not available from other technologies. The GEA is designed for a host of individual diseases, the current priority being Mad Cow Disease, Chronic Wasting Disease, a disease affecting elk and deer in North America; E.Coli 0157:H7 and Johnne's Disease, diseases affecting cattle worldwide.
"Safe Harbor" Statement: Certain statements in this release are "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the Company's ability to meet the terms and conditions required to obtain its project financing, risks and delays associated with product development, risk of market acceptance of new products, risk of technology or product obsolescence, competitive risks, reliance on development partners and the need for additional capital.
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PLMA(.013) Pays Dividend And Forecasts Growth Apr 2, 2007 10:19:00 AM CARLSBAD, Calif., April 2 /PRNewswire-FirstCall/- Palomar Enterprises, Inc. (OTC Bulletin Board: PLMA.OB), has successfully commenced The Company's first Dividend Distribution to shareholders, which had a Date of Record of March 8th, 2007. Shareholders of Record will receive their stock dividend following March 28th, 2007. Palomar Enterprises plans to continue distributing dividends to shareholders on a quarterly basis to build shareholder value as The Company continues to grow at an aggressive pace.
Real Estate - The Company recently announced the launch of The Foreclosure Fund, which will devote its resources to the increasing foreclosure market our country is facing. Palomar has been buying and selling foreclosed homes as part of The Company's business model and plans to devote significant resources to the new fund, which exclusively invests in foreclosures. Investors can participate in the lucrative foreclosure market by owning shares in a Company devoted to this market.
The Blackhawk Fund - Palomar Enterprises' subsidiary, "The Blackhawk Fund" (OTC BB: BHWF), is off to a fabulous start in 2007. The Company owns the exclusive rights to 10 Network Quality cable television productions, which attract nationwide sponsorship revenue. The Company's first quarter business exceeded expectations, with the signing of several significant Media Marketing Agreements with world-renowned companies and individuals like Stotzle, U.S.A., Dr. Denis Waitley and many others. The Company is on pace for the best year in its history, with consolidated revenue expected to reach $10,000,000.
From time to time, the Company may issue news releases that contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be "forward-looking statements." "Forward-looking statements" are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.
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PROL (.03) Announces Promising Results of Laboratory Analysis on Crude Oil Sample From Calatrava Oil Find, Indicating High Kerosene and Gasoline Content
Business Wire "US Press Releases "
MANILA, Philippines--(BUSINESS WIRE)--
Philippines Royal Oil & Alternative Energy Co., Inc. (OTC: PROL), previously Philippines Gold Mining Corporation (Old OTC Symbol: PGMC), announces that the laboratory results on the crude oil sample taken from the Calatrava Oil Find, Phil Oil's first oil project, have been released. The laboratory test was conducted by the Energy Research & Testing Laboratory Services of the Philippine Department of Energy. Utilizing the fractional distillation method, the lab analysis result indicates that the oil sample from Calatrava contained the following:
Water Boiling Point Difference 8.00 Gasoline -same- 7.50 Kerosene -same- 63.00 Residue -same- 18.50 Others -same- 3.00
Furthermore, the crude oil sample had an API Gravity of 11.78, which qualifies it as "heavy oil". Kerosene, aside from being a heating fuel used mostly in 3rd world countries and a solvent in the paint/colorant industry, may also be converted through further processing in a refinery into jet A-1 fuel used by airliners throughout the world.
Gary Gotanco, President/CEO states: "The very promising laboratory results obtained is but an initial indication of the quality of crude oil in the Calatrava Oil Find. Phil Oil will then go through the systematic oil exploration method of conducting additional tests, i.e. geological, geophysical, and geochemical studies, including a seismic survey to determine the extent of the five elements necessary for a good oil prospect: the source rock, mechanism of migration, the trap, cap rock, and the oil reservoir. Once it has been determined through these tests that all five elements are present, and if the estimated recoverable oil reserves are of commercial quantity, only then shall we proceed with the conduct of a costly oil well drilling program."
Meanwhile, Phil Oil clarifies that it was not responsible for nor has any knowledge of the reasons behind the recent unusual increase in trading volume and stock price of PROL.
For the full laboratory analysis/test report, and additional information on Phil Oil, please view Phil Oil's website:
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: Philippines Royal Oil & Alternative Energy Co., Inc.
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PVNC (.09) Agrees to Merge With an International Pulp and Paper Manufacturer and Distributor
Market Wire "US Press Releases "
LAS VEGAS, NV -- (MARKET WIRE) -- 04/02/07 -- Prevention Insurance (OTCBB: PVNC) announces that the merger discussions are progressing in response to questions regarding the proposed merger with Shanghai SenYin Development Co. (SSDC), one of the largest private companies in Shanghai, China. In reference to the release dated 3/22/07, Mr. Goldsmith, president and CEO of Prevention, states that he is confident that the merger is on track and expects to receive a definitive agreement for board consideration in the next couple of weeks.
About Prevention Insurance:
Prevention Insurance is a public insurance holding company that is in negotiations to merge with opportunities that will help the company expand into global markets.
Safe Harbor Statement:
Forward-looking statements and comments in this news release are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements regarding potential future plans and objectives of Prevention Insurance are forward-looking statements. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond Prevention Insurance's control. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially depending on many factors, including those described above. Prevention Insurance cautions that historical results are not necessarily indicative of the company's future performance.
Contact: Prevention Insurance Scott Goldsmith (702) 732-2758 Email Contact
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MMGP (.04) Sugarest(TM) Featured on ABC Network's 'Good Morning America' Program
PR Newswire "US Press Releases "
LIVINGSTON, N.J., April 2 /PRNewswire-FirstCall/ -- MM2 Group, Inc. (OTC Bulletin Board: MMGP) announced today that Sugarest(TM), the diet gum created by its wholly-owned subsidiary, Genotec Nutritionals, Inc., was featured this past Saturday in a story broadcast on the ABC Network's "Good Morning America.". The program is seen nationally throughout the United States, and is typically watched by several million viewers.
In addition to broadcasting a news segment about the product, Sugarest(TM) was used live in the studio program staff. Their reaction, caught live, is typical for users of the product.
Sugarest(TM) is a minty tablet which dissolves in your mouth and temporarily blocks and neutralizes the sweet-taste receptors of your taste buds. Simply place a tablet in your mouth for 2 minutes, and sugary foods and sweets lose their taste and appeal, giving a dieter the "instant willpower" they need to keep to their diet. The effect lasts for 20-30 minutes, long enough for a dieter to defeat their sugar cravings and lose their desire for sweet but fattening foods. Additional information may be found on the Sugarest(TM) website at http://www.sugarest.com.
Mark Meller, CEO of MM2 Group, said, "Media coverage of Sugarest(TM) has been unprecedented. With Good Morning America, we have now been featured on a prominent national television show, on over 40 local television newscasts around the country, and in national newspapers, including Newsday in New York. Orders have been terrific, and we are manufacturing product as quickly as we can to keep up with the demand."
George Kontonotas, President of Genotec Nutritionals, stated, "We expect to announce several new alliances and relationships for Sugarest(TM) in the coming days and weeks. We are very excited about the future for the product and for the Company."
About MM2 Group, Inc.
MM2 Group is involved in the acquisition and build-out of dietary supplement and nutraceutical companies. The company's growth strategy is to acquire firms in this extensive and expanding but highly fragmented segment as it seeks to create substantial value for shareholders. For more information, contact MM2 Group CEO Mark Meller at (732) 290-0019 or by e-mail at meller*mm2group.net or Jerry Mahoney at jerrym*mm2group.net.
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding among other things our plans, strategies and prospects -- both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statem
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SGLS (.024) Receives Consulting Agreements Valued at $300,000
Market Wire "US Press Releases "
CASSELBERRY, FL and CHAMPLIN, MN -- (MARKET WIRE) -- 04/02/07 -- Signature Leisure, Inc. (OTCBB: SGLS) announced today that the company recently has been awarded consulting agreements with two privately held corporations to provide corporate planning and strategic growth management services.
The two new agreements span a twelve (12) month period and each agreement includes a compensation package of $150,000 to Signature for consulting services.
Stephen W. Carnes, President of Signature Leisure, Inc., stated, "I very pleased to announce that Signature is expanding its base of clients with additional privately held corporations. The team at Signature will assist our clients to achieve the growth that they desire. I have confidence that the team at Signature can assist our growing list of clients to provide corporate guidance as well as strategic introductions so that our clientele can maximize their overall growth potential."
Carnes further stated, "Today's announcement marks yet another cornerstone in Signature's continued growth. I believe there is a multitude of growth opportunities for Signature to provide consulting services to privately held business operators that are hungry for knowledge and ideas on how to achieve progressive expansion."
About Signature Leisure, Inc. (OTCBB: SGLS) -- Signature Leisure, Inc. is a publicly traded company trading on the OTC Bulletin Board under the symbol SGLS. For more information about Signature Leisure, Inc., please visit the Company's website at http://www.signatureleisure.com.
This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors that could cause actual results to differ materially from those estimated by the company. They include, but are not limited to, clients of the company are most often smaller emerging growth companies that often are under-capitalized, thus the potential exists that some clients may have difficulty in fulfilling payment obligations to the company. Additionally, other risks include, but are not limited to, the company's ability to continue to develop operations, the company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be Identified from time to time in the company's public announcements.
This press release is provided for information purposes only and is not intended to constitute an offer to sell or a solicitation of an offer to buy securities.
Contact: Signature Leisure, Inc. Stephen W. Carnes 407-599-2886 info*signatureleisure.com
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AURC (.068) Aurus Addresses Third Party Offer
Market Wire "US Press Releases "
NEW YORK, NY -- (MARKET WIRE) -- 04/02/07 -- Aurus Corp (PINKSHEETS: AURC) -- Due to rumours that are circulating regarding a possible buy-out by a third party of all outstanding shares, the company acknowledges that it has received an offer but the Board of Directors shall not make any comments until it completes a thorough verification both of the offeror and the price.
Mr. Grancharoff, vice president of finance, adds, "Once our due diligence is complete we shall announce which parties are involved and the price offered."
About Aurus Corporation
Aurus Corporation is a publicly traded mining holding company with several precious metal properties with over 5 million ounces in gold reserves, trading under the ticker symbol AURC on the US Pinksheets market. Aurus seeks to continue acquire proven gold and other precious metal reserves in Russia and other emerging counties and operate its mines through joint ventures and/or partnerships.
Contact: Jeremy Krause Managing Director Business Development Consultants, LLC 1-858-384-0294
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JMCP (.0001) Appoints Frank Love as President
Business Wire "US Press Releases "
KILLEEN, Texas--(BUSINESS WIRE)--
Taylor Moffitt and Chris McGovern are pleased to announce that they have appointed Frank Love to the position of President of James Monroe Capital effective immediately.
Taylor Moffitt is excited about the deals that Frank Love has brought to James Monroe Capital. Taylor has stated, "I have reviewed numerous candidates but Frank had ideas that, if they could be brought to fruition, would enable James Monroe Capital to have earnings. This would enable James Monroe Capital to buy-back its stock and make us trade at a level that is reflective of our assets and our team."
Chris McGovern states, "this is an exciting time for James Monroe Capital shareholders."
Frank Love from here on will write all the press releases and will update shareholders periodically.
Source: James Monroe Capital
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MWIS (.16) m-Wise Shows Operational Profit in 2006
Market Wire "US Press Releases "
WILMINGTON, DE -- (MARKET WIRE) -- 04/02/07 -- Mobile content technology vendor, m-Wise (OTCBB: MWIS), today announced its consolidated financial results for the fiscal year ended December 31, 2006.
Financial Results
During 2006 we have significantly strengthened our balance sheet: Total Liabilities decreased to $1,425,007 as of December 31, 2006 from $3,425,107 as of December 31, 2005. Current Assets increased to $647,159 as of December 31, 2006 from $164,506 as of December 31, 2005.
Revenues for the year ended December 31, 2006 rose to $2,230,264, up 3% from $2,168,434 in 2005. Income from revenue share increased 304% to $531,580 for the year ended December 31, 2006 from $131,560 in 2005.
Gross profit climbed to $1,909,480, up 25% from $1,527,020 in 2005. General and administrative expenses decreased 12% to $1,368,060 for the year ended December 31, 2006 from $1,563,174 in 2005. Research and development expenses decreased 15% to $455,160 for the year ended December 31, 2006 from $534,933 in 2005.
Income from operations for the year ended December 31, 2006 was $86,260 compared to loss from operations for the year ended December 31, 2005 of $571,087. Net loss decreased 70% to $196,571 for the year ended December 31, 2006 from $644,692 in 2005.
Full financial results for 2006 are available in m-Wise 10K filing.
"m-Wise marked another exceptional year of growth and profitability in 2006," stated Mati Broudo, co-founder and Chairman of m-Wise. "Our success was substantially driven by our continued strategy from 2005 of providing services-based content delivery platforms to key players in the US and Latin America. This strategy has significantly strengthened our balance sheet and stabilized the company's cash flow. While gross profit grew by 25% compared to 2005, income from revenue share contracts continues to show year-over-year growth of over 300%."
"We enter 2007 with increased confidence in the exploding market of mobile services, in our leading edge platforms and the launch of our new Proactive Mobile Marketing System. We are a more mature organization with a strong brand and a leading industry position, thus we are optimistic looking ahead into 2007 and beyond," concluded Mr. Broudo.
About m-Wise
Founded in 2000, m-Wise has established itself as a leading international provider of enabling technologies for the mobile communications, mobile advertising, mobile gaming and mobile entertainment industries. m-Wise is the developer of MOMA platform, a proven mobile content management and service delivery platform used in over 50 mobile networks throughout Europe, North and Latin America, and Asia.
MOMA is an integrated "one stop shop" for mobile operators, wireless ASPs, and content providers to deliver end-users with a state-of-the-art mobile experience. MOMA makes it easy to manage and deliver content such as entertainment, music, games and video regardless of handset compatibility, while adding real-time end user interactivity like voting, mobile marketing, advertising and access to all forms of real-time content. MOMA furthermore integrates built-in capabilities for transactional billing, customer care and marketing to satisfy the growing needs of major brands and marketing agencies.
This press release contains "forward-looking statements". These forward-looking statements use words such as "believes," "intends," "expects," "may," "will," "should," "plan," "projected," "contemplates," "anticipates," or similar statements. These statements are based on our beliefs, as well as assumptions we have used based upon information currently available to us. Because these statements reflect our current views concerning future events, these statements involve risks, uncertainties and assumptions. Actual future results may differ significantly from the results discussed in the forward-looking statements. A reader, whether investing in our common stock or not, should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release.
For more information, please contact: m-Wise IR: Adi Armoza Email: Email Contact
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SLWF(.0013) Seamless Peer 2 Peer, Inc. Launches Phenom(TM) 3.0 -- 60-Day Trial Now Available to Public Apr 2, 2007 12:53:00 PM LAS VEGAS, NV -- (MARKET WIRE) -- 04/02/07 -- Seamless Wi-Fi, Inc. (OTCBB: SLWF) announced today that its subsidiary, Seamless Peer 2 Peer, Inc. has made its Phenom(TM) 3.0 Secure P2P Collaboration Suite software available to the general public in a free 60-day trial beta version. Phenom(TM) uses Seamless' Secure Private Network (SPN) to create a collaborative communications environment with military-grade encryption and FIPS140-2 government compliant secure; shared browsing, document review, chat, file sharing, white boarding and video with plug and play ease of use for the client.
Phenom may be downloaded from www.seamlessp2p.net/version/3.0/downloads/. A free 60-day trial beta license key will be assigned at sign-up. Due to the high-security encryption schema, the Phenom(TM) software is under United States export control. At sign-up, a credit card is required for license key assignment in order to provide for export control user address authentication.
"We invite anyone interested in implementing secure video web teleconferencing and VoIP with collaborative tools such as shared browsing, document review, chat, file sharing and white boarding to try Phenom and see the difference a secure telepresence application can make for their enterprise," said Chris Akins, CTO for Seamless Wi-Fi and its subsidiaries.
System requirements to run Phenom(TM) include: a Pentium 4 2.8 or greater/ AMD Athelon 64 3400 or faster processor, a minimum 512 MB of RAM, 10 Gigabytes of free hard drive space, a Direct X 9.0 compatible video card, a Direct X 9.0c audio device (either sound card with speakers & microphone or a USB headset -- USB headset preferred), a mouse, keyboard, Windows XP Home/Pro or Windows 2003 operating system and an Internet connection capable of 256kbs downstream & 128 kbs upstream sustained bandwidth. Slower connections may incur latency in audio and video transmission. In addition the computer must have the Microsoft.Net framework (2.0) installed.
In conjunction with public availability, on April 16, 2007, the company is launching an initial advertising program featuring Phenom(TM) 3.0 on CNET (www.cnet.com), where people go to discover the latest tech and consumer electronics.
Phenom(TM) uses Virtual Internet Extranet RSA encryption to provide secure data transmission and SOX and HIPAA-compliant secure peer mail, chat, file transfer, remote PC access, secure VoIP, video conferencing and white boarding.
To receive ongoing updates on Seamless Wi-Fi and its subsidiaries, please register to receive Seamless News at www.slwf.net.
About Seamless Wi-Fi:
Seamless Wi-Fi, Inc. (www.slwf.net) is a Las Vegas-based company listed on the Over-The-Counter Bulletin Board under the symbol SLWF. Seamless Wi-Fi develops and markets secure cutting-edge internet communications products and services through its three operating subsidiaries: Seamless Skyy-Fi, Inc. (www.skyyfi.com), Seamless Peer 2 Peer, Inc. (www.seamlessp2p.net) and Seamless Internet, Inc. (www.seamlessinternet.com).
Seamless Skyy-Fi is forging a network of Wi-Fi hotspots in targeted geographic and vertical markets across the country and has achieved initial success providing hotel and retail Wi-Fi hotspots and is developing the "Secure Internet Browsing" Wi-Fi encryption software program "SInB."
Seamless Peer 2 Peer has developed and launched Phenom(TM) V3.0, its Secure Peer 2 Peer Virtual Internet Extranet encryption software, which provides SOX and HIPAA-compliant internet communications over standard internet services.
Seamless Internet is manufacturing and marketing the S-XGen(TM) Ultra Mobile Personal Computer and Communications Device including a 3G phone that combines portability, connectivity, processing power and entertainment capabilities for the ultimate road-warrior laptop replacement. Seamless Internet also provides secure hosting services for all Seamless Wi-Fi company clientele.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Seamless Wi-Fi or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, such statements in this release that describe the company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, and risk inherent in the operations of a company. We assume no obligation to update any written or oral forward-looking statement made by us or on our behalf as a result of new information, future events or other factors.
For Seamless:
Rich Schineller 646.257.3969 rich*slwf.net
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CHNW (.001) Announces Filings Completed for Listing on the Frankfurt Exchange
PR Newswire "US Press Releases "
LAS VEGAS, April 2 /PRNewswire-FirstCall/ - Esprit Financial Group Inc. (ESPRIT) (formerly Cash Now Corporation) (CHNW.PK) (www.espritfinancialgroup.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, under the Cash Now banner. Additionally, the Company's Forex Trading division offers an innovative low-cost online Forex trading service at www.cashnow.com.
The Company's Advanced Electronic Funds Management (AEFM) division offers Cash Now Check 21 - an advanced checking clearing service that can significantly reduce holdback periods by banking institutions, particularly valuable for international markets. Its EM2 (Electronic Money Management System) product is a comprehensive e-wallet capable of managing multiple bank accounts, remitting funds worldwide and provide banking capabilities to consumers without requiring that they have a bank account.
The Company is pleased to announce that all of the required documents have now been filed with the Frankfurt Exchange to list the Company in Europe as well as North America. There are several strategic reasons for the cross border listing. First and foremost, the Company's Forex Trading division and Advanced Electronic Funds Management division are very much international in scope. Many of the AEFM's product services address strong demand to improve the flow of capital across borders through various financial institutions. As previously announced earlier today, the Company will also be launching a U.K. based Forex website, and eventually an Asian portal.
The move will also broaden the shareholder base for the Company, allowing access to retail traders interested in U.S. based small cap companies. Cross-border listing is a proven and effective vehicle for increasing demand by overseas retail investors, who currently invest in U.S. equities. In addition, there are very favorable tax laws for German investors who invest their own currency and hold securities longer than twelve months. The diversification of the Company's shareholder base brings additional liquidity with a broader base of shareholders, and will reduce the potential volatility in Price-per-Share of the Company's stock.
The European markets have been very strong, especially in Germany, and there is a strong demand from both private and institutional investors in Europe to invest in small-cap and medium size public companies in the U.S. and Australia.
Esprit CEO Garr Winters explains: "This is a move we have taken after significant review and analysis. Esprit's business activities already cross in many international markets. The new divisions coming on stream are even more international in nature. This cross-border listing will raise the corporate profile in markets where we will continue to build our business services. It's only natural that our stock should be available to a more international shareholder base."
The Frankfurt listing is anticipated to be active within the next 45-60 days. Interested shareholders can visit the exchange at:
According to exchange data at their website, 45 percent of Europe's top 300 companies have their primary listing on the London or Frankfurt exchanges. The Frankfurt Stock Exchange (FWB) is by far the largest of the eight German stock exchanges. It ranks third in the world behind NYSE and NASDAQ. Since the launch of Xetra, its electronic trading platform, it has offered its clients not only floor trading through brokers but also fully-electronic trading facilities, whereby orders from any point in the globe are automatically inputted into the order book on the central computer. The FWB was founded over four hundred years ago in 1585. The FWB is operated by Deutsche Borse AG.
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 also operates a retail Forex trading website, targeted to seasoned day traders. The website was launched earlier today at www.cashnow.com.
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.
SOURCE Esprit Financial Group
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PDSC (.0002) Has 2 Trailer Loads of EPA Registered 8600 R-T-U, Which Provides a Proactive Process for Removal of the Avian Flu Virus (Bird Flu), for Immediate Delivery to Market
Market Wire "US Press Releases "
PRESCOTT, AZ -- (MARKET WIRE) -- 04/02/07 -- PRODUCE SAFETY AND SECURITY INTERNATIONAL, INC. (PINKSHEETS: PDSC) ("PDSC"), a sanitation disinfectant process supplier to the food and medical industries, is pleased to announce the manufacturing of new generation Spherequat 8600 R-T-U for Global Avian Flu H5N1, A PROACTIVE, Ready-To-Use Disinfectant, Cleaner, Mildewstat, Fungicide, Virucide*, Deodorizer for Poultry/Turkey Farms and Federally Inspected Poultry Processing Plants, Approved 5-23-06.
Apply this 8600 R-T-U to walls, floors and other hard (inanimate) non-porous surfaces such as tables, chairs, countertops, sinks with a cloth, mop or mechanical spray so to thoroughly wet surfaces. Treated surfaces must remain wet for 10 minutes. Spray nozzle should be 6-8 inches from surface.
Clarence Karney, Chief Executive Officer of Produce Safety and Security International, Inc., states, "The Spherequat® 8600 R-T-U (Ready To Use) is an EPA Registered #10324-85-92131, EPA Est. No. 6574-KY-001 disinfectant and antimicrobial, proven proactive effective solution against the Avian Influenza Virus. Clarence W. Karney, CEO, and Dr. Kent Sorrells, PhD of Produce Safety & Security International, Inc., state, "Spherequat 8600 R-T-U EPA Certified performance matches independent laboratory tests, as well as our tests, as it was successfully evaluated in the presence of Avian Influenza, a virus, also known as Avian Reovirus." Mr. Karney continues by stating, "Produce Safety & Security has positioned 2 trailer loads of Spherequat 8600 R-T-U inventory at the Prescott, Arizona warehouse facility for immediate delivery. The BENEFIT OF THE SPHEREQUAT 8600 R-T-U IS A READY-TO-USE PRODUCT FOR IMMEDIATE USE IN POULTRY OPERATIONS, HATCHERIES, BROOD FARMS AND TRANSPORTATION. THIS PRODUCT IS USED AS A PROACTIVE SOLUTION TO PREVENT AVIAN FLU (BIRD FLU) OUTBREAKS."
About Produce Safety & Security International, Inc. (PDSC)
Produce Safety has developed and patented products for extending the shelf life of perishables. The EPA-registered products sanitize and disinfect against food-borne illness pathogens and disease-causing bacteria. PDSC provides a range of options for retail stores, restaurants, cruise ship lines, disaster cleanups and municipal programs. Furthermore, the process incorporates a complete audit trail, an essential component for complying with government regulations in the USA, Canada and Mexico.
Produce Safety's state-of-the-art ozone process has been shown to extend the shelf life and remove food borne illness bacteria. This process will provide retail produce departments reduced shrinkage, increase the bottom line and provide a fresher product for the consumer. The customer will be assured of a safe food product, by use of this process, which may be used on organic produce to remove the pathogens. This process uses no chemicals thus meeting the requirements of organic certification.
For further product information, joint venture opportunities, distributorship program information, or program applications, please go to Produce Safety's website: www.foodsafeint.com.
Safe Harbor
Forward-looking statements made in this release are made pursuant to the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements made by Produce Safety & Security International, Inc. are not a guarantee of future performance. This news release includes forward-looking statements, including with respect to the future level of business for the parties. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors that could cause results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks, uncertainties and events that may be beyond the control of Produce Safety & Security International, Inc. and no assurance can be given that such results will be achieved. Potential risks and uncertainties include, but are not limited to, the ability to procure, properly price, retain and successfully complete projects, and changes in products and competition.
Contact: Produce Safety and Security International, Inc. Clarence Karney 928-717-1773 www.foodsafeint.com or Mercantile Ascendency John Bryant 214-461-3417 www.***.com
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PNMS (.0022) 2006 Financials Are Now Officially Certified
Market Wire "US Press Releases "
PANAMA CITY -- (MARKET WIRE) -- 04/02/07 -- PANAMERSA Corporation (PINKSHEETS: PNMS) received the official certification of the audited financials, which confirm the liquid assets ending December 31, 2006, CEO Mike Terrell announced today from Central America, and will be posted on PANAMERSA Corporation's Web site upon his return this week.
"I know there has been a delay in delivering the legal certification document, but it is as I have stated for several months now, the numbers are the same as the numbers released in February, but they are now certified by the fiscal and the external auditors as true and correct," said Terrell. "The numbers are strong and show our growth as a business, and the certification now confirms the monies that PANAMERSA Corporation held as of 12/31/2006."
Fourth quarter earnings for 2006, as released in February and now certified, show posted net earnings over third quarter 2006 at an increase of 545 percent. Annual revenues rose to $46.4 million and year-end net profits showed $27.4 million. Released numbers also reflect PANAMERSA Corporation's acquisitions producing and receivables current.
Fiscal Bernal Murillo Vargas Licensed Auditor Alexander Viquez Herrera Protector Pedro Borges Fiol, MBA
PANAMERSA Corporation A whole new game
PANAMERSA Corporation (PINKSHEETS: PNMS) is a holding company for a group of business enterprises which promotes the commercial integration of Latin America into the economic development of the Western Hemisphere. PANAMERSA Corporation is engaged in global e-commerce and e-biz solutions offering interactive e-commerce and e-biz programs in addition to a range of goods and services online including: prepaid Debit cards; e-commerce merchant accounts; life insurance policies, gold transactions; telephony services, text messaging, VoIP, MicroForests properties, real estate investment participations, fixed and variable income real estate properties in Costa Rica and Panama, offshore financial services, asset management and protection; travel services, leisure, business, health, relocation services, and digital marketing services.
Forward-looking statements are not historical facts as "forward-looking statements" defined in the Private Securities Litigation Reform of 1995. Forward-looking statements are not guarantees of future performance. Our forward-looking statements are the result of profound analysis on trends in our globalizing economies that we anticipate in our industry. It is our good faith vision and estimate of the effect on the globalization, integration and electronic business trends will have on our company. Our statements are also subject to risks and uncertainties beyond our reasonable control that could cause the results of operations to differ materially from those reflected in our forward-looking statements.
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BHUB (.0007) Appoints Additional Board Member and Interim President
PR Newswire "US Press Releases "
JENSEN BEACH, Fla., April 2 /PRNewswire-FirstCall/ -- The Big Hub.com, Inc. (Pinksheet: BHUB) announced today that its director has added Jayme Dorrough to the Board of Directors and has appointed Darrell Peterson as interim President.
"The company is currently not in negotiations with any company regarding acquisitions or mergers," stated Darrell Peterson. Currently, the Company is working through counsel to update and disseminate information concerning the current structure of the Company and outline the Company's intent on future projects it may be involved in. The company plans to update the http://www.pinksheets.com web site within the next few days.
The Company can be contacted at: 267-350-9443
The Company's address for correspondence is: 1820 NE Jensen Beach Blvd. Box 634 Jensen Beach, Florida 34957
Due to the anticipated high volume of inquires all calls will be returned within the day.
Contact Person: Darrell Peterson, Interim President
Safe Harbor: This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of The BigHub.com, Inc. to be materially different from the statements made herein.
SOURCE The Big Hub.com, Inc.
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DCBI (.25) VP Trip to the Southeast Another Great Success
Market Wire "US Press Releases "
DENVER, CO -- (MARKET WIRE) -- 04/02/07 -- Today, DC Brands International (PINKSHEETS: DCBI) announced that their VP of Sales Richard Muscarella had a very successful trip to the southeast last week. The company's President Richard Pearce said, "As expected, Rich had another great trip. After having great success with all his meetings, Mr. Muscarella attended the Fairborn Equipment 150 race on Saturday, March 31st, at the Concord Motorsport Park, where he reports we were a major hit. After an exhausting week like he had, I instructed him to take a much needed break this weekend and sent him to enjoy the NASCAR race at Martinsville, which he said was fantastic. I am personally so pumped about the news Mr. Muscarella has to report. However, I will let him provide some more details tomorrow when he gets settled in. I just know he has had some very exciting meetings and new commitments from retailers and distributors. Mr. Muscarella is traveling back today and due in the office about 5:00pm. I have asked him to put together a press release for sometime tomorrow to give a little better prospective on what he was able to accomplish."
For more information on the company, visit their website at www.TurnLeftEnergy.com and DickensEnergyCider.com
Note: Except for the historical information contained herein, this news release contains forward-looking statements that involve substantial risks and uncertainties. Among the factors that could cause actual results or timelines to differ materially are risks associated with research and clinical development, regulatory approvals, supply capabilities and reliance on third-party manufacturers, product commercialization, competition, litigation, and the other risk factors listed from time to time in reports filed by DC Brands International with the Securities and Exchange Commission, including but not limited to risks described under the caption "Important Factors That May Affect Our Business, Our Results of Operation and Our Stock Price." The forward-looking statements contained in this news release represent judgments of the management of DC Brands International as of the date of this release. DC Brands International and its managers and agents undertake no obligation to publicly update any forward-looking statements.
Primary Contact: Keith Howard 303-279-3800
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MBTG(.185) Resurgex Provides Significant Strength, Recovery and Body Composition Benefits to Division 1 Football Players The American College of Sports Medicine Accepts Millennium's 2nd Double Blind, Placebo Controlled Clinical Trial in Rutgers's University Division 1 Athletes Which Will be Presented At the National Strength and Conditioning Coaches Association Conference Apr 2, 2007 3:08:00 PM 2007 *********wire, Inc. BASKING RIDGE, N.J., April 2, 2007 (PRIME NEWSWIRE) -- Millennium Biotechnologies Group, Inc.(OTCBB:MBTG) today announced the findings of a 2nd clinical trial which concluded that Resurgex(r) sports nutritional formula significantly enhanced recovery, strength and body composition in Rutgers University Division 1 Football players as compared to a placebo group (a popular competitor sports formula). The results signal an important role for Resurgex in the sports fitness field.
The trial, conducted at Rutgers' New Brunswick, NJ campus and led by Assistant Professor of Exercise and Sports Studies Shawn M. Arent, PhD, CSCS, involved male, Division 1 varsity football players randomly assigned to receive either the NCAA compliant Resurgex sports formula or a placebo (a popular competitor sports formula) containing the same amount of calories throughout the study. The athletes were tested before and again at the end of training. Those receiving Resurgex showed significant increases in their peak power measured by Wingate testing, better muscle to fat weight gains and improved testosterone:cortisol ratio, reduction of IL6, creatine kinase and isoprostanes as compared with the control group. The practical application coming out of the study demonstrates the significant application of Resurgex as a post-workout recovery aid and will assist the athlete in maximizing training responses by helping to buffer the acute and chronic biochemical challenges to optimal recovery. A complete presentation of this study is to be given at the National Strength and Conditioning Coaches Association Conference in Atlanta, July 2007.
"Coupled with the significant results of our first clinical trial demonstrating the positive effects of Resurgex on performance and oxidative stress in Division 1 soccer players, this new clinical trial further confirms the critical role that Resurgex can play in the strength and recovery in the athlete," said Carl Germano, RD, CNS, CDN, senior vice president of product development and research for Millennium Biotechnologies. "With significant positive influences Resurgex had on recovery markers and its ability to reduce inflammatory and oxidative stress markers as well as compounds that can break down muscle, the results of this very important trial clearly show that Resurgex can have tremendous benefits when used as part of an athlete's normal training regimen. These findings provide a new opportunity for Millennium Biotechnologies to position Resurgex as an aid to help athletes increase their performance by improving recovery, strength and energy parameters."
About Millennium Biotechnologies, Inc.: Millennium Biotechnologies, Inc. is a research-based nutraceutical company and a pioneer in the emerging field of specialized nutritional supplements. The company's flagship products, RESURGEX(r), RESURGEX Plus(r), and RESURGEX Select(r), are designed to assist in reducing fatigue and oxidative stress, maintaining lean muscle and immune support in immunocompromised conditions.
Millennium Biotechnologies, Inc. is a wholly owned subsidiary of Millennium Biotechnologies Group, Inc., a publicly-traded company (OTCBB:MBTG). For more information about Millennium Biotechnologies, please contact Jerry Swon, Chief Executive Officer, at jswon*milbiotech.com or call (908) 604-2500. For more information about the Resurgex line of products visit www.resurgex.com.
This release includes certain forward-looking information that is based upon management's beliefs as well as on assumptions made by and data currently available to management. This information which has been, or in the future may be, included in reliance on the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, is subject to a number of risks and uncertainties, including but not limited to uncertainty as to market acceptance of Resurgex and Resurgex Plus and the factors identified in the Company's 10-KSB and other documents filed with the Securities and Exchange Commission. Actual results may differ materially form those anticipated in such forward-looking statements even if experience or future changes make it clear the any projected results expressed or implied therein may not be realized. The Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances.
CONTACT: Millennium Biotechnologies Frank Guarino (908) 604-2500 FGuarino*Milbiotech.com
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