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CHDT(.031) to File Late Filing Notification for 12/2006 10-K Apr 2, 2007 4:05:00 PM COOPER CITY, FL -- (MARKET WIRE) -- 04/02/07 -- China Direct Trading Corporation, a Florida corporation (OTCBB: CHDT), announced today that it filed a Form 12b-25 with the Securities and Exchange Commission to report that it will not file its Annual Report on Form 10-K for the period ended December 31, 2006 by the Monday, April 2, 2007 filing deadline. The Company's independent registered public accounting firm notified Company management that it is unable to complete the final audit by the required filing date because of a delay in verifying and consolidating field audit results from former operations. The Company expects to announce earnings and file a Form 10-K on or before April 16, 2007.
China Direct Rich Schineller Tel: 646-257-3902 rich*chdt.us
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NWOG (.0481) Presents Consolidated Financial Statements for the Year Ending March 31, 2007
Market Wire "US Press Releases "
MOSCOW -- (MARKET WIRE) -- 04/02/07 -- North-West Oil Group (PINKSHEETS: NWOG) today provided consolidated financial statements for the year ending March 31, 2007 and will proceed to file its audited financial statements.
FINANCIALS PREPARED BY LLC "Audit-Invest-Consult"
NORTH-WEST OIL GROUP INC.
CONSOLIDATED INTERIM BALANCE SHEET (UNAUDITED) MARCH 31, 2007 MARCH 31, 2006 --------------------------------------------------------------------------- U.S. $ U.S.$ ---------------------------------------------------------------------------
Total Assets 55 237 814 102 353 802 --------------------------------------------------------------------------- LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES Accounts Payable 951 120 1 021 767 Other Current Liabilities 4 127 953 96 725 ---------------------------------------------------------------------------
Total Current Liabilities 5 079 073 1 118 492 ---------------------------------------------------------------------------
Long Term Debt 1 439 916 12 235 595 ---------------------------------------------------------------------------
Total Liabilities 6 518 989 13 354 087 --------------------------------------------------------------------------- STOCKHOLDERS' EQUITY: Capital Stock 347 347 Paid in Capital 33 508 800 79 352 969 Retained Earnings 15 209 678 9 646 399 ---------------------------------------------------------------------------
Total Stockholders Equity 48 718 825 88 999 715 ---------------------------------------------------------------------------
Total Liabilities and Stockholders' Equity 55 237 814 102 353 802 ---------------------------------------------------------------------------
NORTH-WEST OIL GROUP INC.
CONSOLIDATED INTERIM STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME (UNAUDITED)
FOR THE PERIOD FOR THE PERIOD APRIL 01, 2006 APRIL 01, 2005 MARCH 31, 2007 MARCH 31, 2006 -------------- -------------- U.S.$ U.S.$ Sales: Income 43 148 891 103 996 305 ---------------------------------------------------------------------------
Operating Expenses 28 046 779 83 822 737 Selling, general and administrative 6 790 541 6 406 171
Weighted Average Common Shares ---------------------------------------------------------------------------
Fully Weighted Average Common Shares Outstanding ---------------------------------------------------------------------------
NORTH-WEST OIL GROUP INC.
CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS (UNAUDITED)
FOR THE PERIOD FOR THE PERIOD APRIL 01, 2006 APRIL 01, 2005 MARCH 31, 2007 MARCH 31, 2006 -------------- -------------- U.S.$ U.S.$ CASH FLOWS FROM OPERATING ACTIVITIES: Net Earnings 5 563 279 9 663 226 Depreciation and amortization 996 792 1 031 828 (Increase) decrease in: - - Changes in Receivables 308 953 (517 582) Changes in Liabilities (6 835 098) 716 666 Changes in other Operating 33 508 800 Activities 1 473 584 (1 003 114) --------------------------------------------------------------------------
Net cash and cash equivalents provided by OPERATING ACTIVITIES 35 016 310 9 891 024 --------------------------------------------------------------------------
CASH FLOWS FROM INVESTING ACTIVITIES Increase Investments Assets 16 290 635 Purchase of Capital Assets (230 468) (111 171 618) -------------------------------------------------------------------------- NET CASH USED FOR INVESTING ACTIVITIES 16 060 167 (111 171 618) -------------------------------------------------------------------------- CASH FLOWS FROM FINANCING ACTIVITIES: Increase in Paid in Capital (40 280 890) 88 999 369 Long-term loan (10 795 679) 12 235 595 -------------------------------------------------------------------------- Net cash from Financing Activities (51 076 569) 101 234 963 -------------------------------------------------------------------------- Net (Decrease) Increase in Cash (92) (45 631) Cash - Beginning of Period 3 092 48 723 -------------------------------------------------------------------------- Cash - End of Period 3 000 3 092 -------------------------------------------------------------------------- SUPPLEMENTAL DISCLOSURE OF NON-CASH
INCOME TAXES - - --------------------------------------------------------------------------
NORTH-WEST OIL GROUP INC.
NOTES FOR CONSOLIDATED STATEMENTS AS AT MARCH 31, 2007 (UNAUDITED)
1. ACCOUNTING POLICIES
a) Principles of Consolidation
The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries.
b) Cash and Cash Equivalent
The Company considers highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents.
c) Fixed Assets
Furniture, fixtures and equipment are recorded at cost less accumulated depreciations which is provided on the straight-line basis over the estimated useful lives of the assets which range between three and seven years. Expenditures for maintenance and repairs are expensed as incurred.
Income Taxes
The Company accounts for income taxes in accordance with the "liability method" of accounting for income taxes. Accordingly, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities, using the enacted tax rates in effect for the year in which the differences are expected to reverse. Current income taxes are based on the respective periods' taxable income for federal, state and foreign income tax reporting purposes. As at March 31, 2007 these amounts were $1,756,825.
d) Earnings Per Share
Earnings per common share is computed pursuant to SFAS No. 128 "Earnings Per Share". Basic earnings per share is computed as net income (loss) available to common shareholders divided by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur from common shares issuable through stock options, warrants and convertible preferred stock.
e) Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
About North-West Oil Group (formerly Nord Oil International) North-West Oil Group is a non-reporting, publicly traded Oil & Gas company trading under the ticker symbol NWOG on the U.S. Pinksheets market.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
Contact:
Maria Romanova North West Oil Group Tel: +7 495 621 11 15 E-Mail: maria*szng.ru Web: http://www.szng.ru
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BOCA RATON, FL -- (MARKET WIRE) -- 04/02/07 -- The Harvard Learning Centers, Inc. (PINKSHEETS: HVLN) ("HLC") confirms that the Board of Directors has signed a Letter of Intent to acquire BSA Athletics, Inc., headquartered in Boca Raton, Florida, an early-stage sports training and fitness company, whose name reflects its focus on "Boxing" and the development of "Speed" and "Agility" in its students. Terms of the pending transaction have not been disclosed, and the transaction is expected to close in early April 2007.
Donald Platten, President of HLC, stated, "This acquisition completes our strategy to help develop the minds and the bodies of today's youth." He added, "We are proud to add BSA Athletics' program offerings to the scope of our services at HLC, and it will allow us to cross promote our service offerings between our two businesses."
About The Harvard Learning Centers, Inc.
HLC offers training programs for both the mind and body of teenagers and young adults. Historically, its operations have focused on offering SAT-ACT test preparations that help high school students succeed (www.sat-act-prep.com). SAT and ACT are standardized tests used by most U.S. colleges and universities for admission and placement decisions and scholarship eligibility. For SAT-ACT test preparation, HLC offers classroom and online courses along with private tutoring.
Safe Harbor Statement
Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.
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BRVO(.278) Reports Record 2006 Revenue Volume Was a Record 1,687,909 Cases Apr 2, 2007 4:21:00 PM NORTH PALM BEACH, Fla., April 2 /PRNewswire-FirstCall/ -- Bravo! Brands Inc. (OTC Bulletin Board: BRVO), a brand development and marketing company that promotes and distributes vitamin-fortified, flavored milk drinks and other beverages, announced today total revenue for the year ended December 31, 2006 was a record $14.7 million, an increase of 23% over the prior year. Gross margin (excluding shipping costs) for 2006 decreased to 13.7% from 25.2% in 2006. Bravo! reported a net loss applicable to common shareholders of $37.7 million compared to an $80.9 million loss in 2005. The net loss on a per share basis was $0.20 in 2006 compared to a $0.60 per share loss in 2005.
Summary of Key Events for 2006 - Expanded annual production capacity from 30 million to 160 million bottles. - Developed the first 8 ounce vendible bottle for Coca Cola and other vending machines. - Developed 12 ounce vendible bottles for high schools that meet the new American Beverage Association serving size guidelines. - Reduced average costs per 14 ounce bottle by 13%. - Established the Allied Brands sales channel to focus on expanding business beyond CCE. - Introduced an organic milk line through partnership with Organic Valley's Cooperative Regions of Organic Producer Pools. - Signed licensing agreement with General Mills for use of the Cocoa Puffs(R), Trix(R), FrankenBerry(R), BooBerry(R) and Wheaties(R) products that will introduce the Slammers(R) brand to a younger demographic. - Negotiated Masterfoods license to 2012 (five year extension) and broadened the co-branded offering to include Dove(R) Dark and Dove(R) Milk Chocolate. - Added talent and resources across all departments to support company growth. - Roy Warren, Chief Executive Officer commented, "2006 was a challenging as well as a rewarding year for us. We ended the year far stronger and much better positioned to take advantage of the opportunities available to us in the market place than when we started 2006." Mr. Warren further added, "We now have additional production capacity and will focus on aggressively marketing our pipeline of products in 2007".
2006 DiscussionTotal revenue was $14.7 million in 2006, a 23% increase from revenue of $11.9 million in 2005. The increase in revenues was primarily due to a full year of revenue from the Coca Cola Enterprises (CCE) contract as compared to only two months in 2005. Sales through the CCE distribution network accounted for 78% of the company's revenue in 2006.
Cost of goods sold in 2006 was $12.6 million, an increase of 42% from $8.9 million in 2005, primarily reflecting increased production. The gross margin (excluding shipping costs) of 13.7% in 2006 was down from 25.2% in 2005 due primarily to pricing concessions agreed to with CCE and to challenges associated with implementing the CCE Master Distribution Agreement. As provided for in our agreement with CCE, we anticipate increasing selling prices to CCE in early 2007.
Selling expenses in 2006 increased approximately $6.0 million from $5.9 million in 2005 to $11.9 million in 2006. The increased selling expense primarily reflected the hiring of additional sales personnel and a national sales campaign. Selling expense as a percentage of revenue was 81% for the year ended December 31, 2006 as compared to 49% for the prior year.
Marketing and advertising expense in 2006 increased by $5.9 million from $1.5 million in 2005 to $7.4 million in 2006. During 2006, we significantly increased our marketing budget by sponsorship of National Hot Rod Association pro stock race cars and by traditional mediums of television, radio, and point of sale advertising.
General and administrative (G&A) expenses were $10.7 million in 2006 compared with $7.3 million in the prior year. The increase was due primarily to a $2.8 million penalty incurred for unused capacity as a result of our manufacturing agreement with Jasper Products. These expenditures were a necessary byproduct of our strategic plan for securing additional available capacity with FDA approved processors of shelf-stable milk products. As a percentage of revenue G&A expenses were 73% in 2006, up from 61% in 2005.
The weighted average shares outstanding for 2006 were 195 million, up from 135 million in 2005 primarily due to conversions of convertible and preferred instruments into common stock.
Balance Sheet
The company ended 2006 with approximately $3.8 million in cash and total assets of approximately $30.4 million compared to $4.9 million and $28.4 million, respectively at year-end 2005.
Conference Call
Bravo! will host a conference call on Monday, April 2, 2007 at 4:15 p.m. Eastern Time to discuss these results. Roy G. Warren the company's Chief Executive Officer, and Jeffrey J. Kaplan the company's Chief Financial Officer will be hosting the call. The call in number for the call is 877-407-9205 (International: 201-689-8054); No Passcode required. The call will be webcast and can be accessed from the company's website at www.bravobrands.com with the webcast link available under the investor section. If you are unable to join the call, a replay will be available until April 4, 2007 at 11:59 p.m. Eastern Time and can be accessed by dialing 877-660-6853 (International: 201-612- 7415); enter account number 286; conference identification number 236295.
About the Company
Bravo! Brands Inc. develops, brands, markets, distributes and sells nutritious, flavored milk products throughout the 50 United States, Mexico and Puerto Rico. Bravo!'s products are available in the United States and internationally through production agreements with regional aseptic milk processors and are currently sold under the brand names Slammers(R) and Bravo!(TM). Bravo!'s Slammers(R) products are available nationwide in popular chains such as: 7-Eleven, A&P, Allsup's, BP Petroleum, Brookshire Grocery, Circle K, Cumberland Farms, CVS, Discount Drug, Eckerd Drug, Giant Food Stores, Hannaford, Hess, Kings, Krasdale, Pathmark, QFC, Schnucks, Sheetz, ShopRite, Speedway, Stator Bros, Sunoco, Tedeshi, United Supermarkets, USA/Super D Drug, Waldbaums, Walgreens, Quick Trip, Wal-Mart Supercenter and Pilot Oil.
Many of Bravo! Brands' Slammers(R) lines of shelf-stable, single-serve milk drinks are co-branded through exclusive partnerships with Masterfoods USA, a division of Mars Incorporated, General Mills, Organic Valley, and MD Enterprises (Moon Pie(R)), providing superior name recognition packaged with quality, great-tasting drinks.
On November 1, 2005, Coca-Cola Enterprises, Inc. began distribution of the Slammers(R) Masterfoods line, as well as the Bravo!'s Slim Slammers(R) and Pro Slammers(TM) products, under a Master Distribution Agreement with Bravo!
Safe Harbor under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company's filings with the Securities and Exchange Commission.
Investor Relations Contact Company Contact Kathleen Heaney Jeffrey J. Kaplan Integrated Corporate Relations Chief Financial Officer (203) 803-3585 (561) 625-1411
SOURCE Bravo! Brands Inc.
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RCAA(.33) Alderox to Be Used by World's Largest Molybdenum Mining Company SAN CLEMENTE, CALIF., April 2 /CNW/ - RCAI (OTCBB:RCAA), a world leader in environmentally-friendly industrial release agents and lubricants, announced today that it has entered into a contract with the world's largest molybdenum mining company, Freeport-McMoRan (NYSE:FCX), for the use of the Company's Alderox(R) product.
The Alderox(R) non-stick release agent will be used at Freeport-McMoRan's Henderson, Colorado molybdenum mine to prevent the build-up of materials in the beds of 80 ton underground haul trucks.
Gordon Davies, President of RCAI, stated, "Preliminary on-site testing indicated that the use of the Alderox(R) non-stick product in this application could yield significant increases in productivity at the mine.
"Materials build-up in haul truck beds, known as 'dead-bed' or 'carry-back', is a major problem at a large number of mines. The elimination of the materials build-up problem could result in substantial increases in productivity at many mining operations."
RCAI will be installing a specialized, drive-under automated spray application system in order to guarantee the correct usage of Alderox(R) product.
"Installation will be followed by a 60 day trial period and engineering study by Freeport-McMoRan of the savings realized through the use of the Alderox(R) product on the haul trucks. Provided the trial is successful, the equipment will remain on-site and in continuous operation," added Davies.
Freeport-McMoRan Copper & Gold Inc. ("FCX") is an international mining industry leader based in North America with large, long-lived, geographically diverse assets and significant proven and probable reserves of copper, gold and molybdenum. Freeport-McMoRan is the world's largest publicly traded copper mining company and the world largest molybdenum mining company.
FCX conducts its operations primarily through its principal operating subsidiaries, PT Freeport Indonesia, Phelps Dodge and Atlantic Copper.
Phelps Dodge ('PD') is a fully integrated producer of copper and molybdenum, with mines and processing facilities in North America, South America and Europe and processing capabilities for other minerals as by-products, such as gold, silver and rhenium.
PD also is developing one of the world's largest copper/cobalt concessions, the Tenke Fungurume mine, in the Democratic Republic of Congo. PD has a Wire and Cable group, which manufactures engineered products principally for the global energy sector.
About RCAI
RCAI is an industrial supply company providing products and services throughout North America and worldwide. Applied Industrial Technologies, Inc. (www.applied.com) is the company's exclusive distributor in North America. RCAI specializes in the development, manufacturing, sales and distribution of superior, environmentally friendly lubricants, industrial release agents and form oils.
Forward-Looking Statements
Any statements made in this press release which are not historical facts contain certain forward-looking statements, as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results of the specific items described in this release, and the company's operations generally, to differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of such statements, and we disclaim any obligation to update information contained in any forward-looking statement.
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NGPX(.025) and Plastinum Confirm February 20, 2007 as Record Date Apr 2, 2007 4:42:00 PM 2007 *********wire, Inc. NEW YORK, April 2, 2007 (PRIME NEWSWIRE) -- New Generation Holdings, Inc. (OTCBB:NGPX) and Plastinum Corp. (OTCBB:PLNU) confirmed today that the record date for the distribution of Plastinum shares in connection with the spin off by NGH of Plastinum was February 20, 2007. February 20, 2007 was also the distribution date for the Plastinum shares.
NGH and Plastinum also announced that the companies are finalizing issues with Nasdaq relating to the spin off and expect that shares of Plastinum will begin to trade shortly under the symbol "PLNU" on the OTCBB.
Certain statements in this news release, including statements that we "believe," "expect," "intend" or words of similar import, are forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of PLNU and NGPX, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: general economic and business conditions; competition; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of experimental studies; research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in the Securities and Exchange Commission filings of Plastinum Corp. and New Generation Holdings, Inc. available at http://www.sec.gov.
CONTACT: New Generation Holdings, Inc. Jacques Mot (212) 792-4030 info*ngpx.com
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SLJB(.0099) Announces US CPA Firm Apr 2, 2007 5:29:00 PM Sulja Bros. Building Supplies, Ltd. (Nevada) (PINKSHEETS: SLJB) today announced that The Ontario Securities Commission (OSC) has commenced an enforcement proceed against the Company, the Company's affiliate Sulja Bros. Building Supplies Ltd. (Ontario), the Company's former Chief Executive Officer Peter Vucicevich, Kore International Management Inc. (a company affiliated with Mr. Vucicevich) and Andrew DeVries (an associate of Mr. Vucicevich), who was formerly associated with the Company. The OSC alleges, among other things, that Messrs. Vucicevich and DeVries engaged in manipulative trading in the Company's stock and that the Company made representations in certain press releases that were not true. A copy of the Statement of Allegations issued by the OSC can be found at http://www.osc.gov.on.ca/Enforcement/Proceedings/SOA/soa_20061227_suljabros.pdf. On December 22, 2006, the OSC ordered the cessation of trading in the Company's securities for 15 days and, on January 8, 2007, that order was extended until March 23, 2007. The Company did not oppose the continuation of this order and is cooperating with the OSC, but cannot at this time comment on the substance of the OSC's allegations or on the impact of the OSC's order on the trading of the Company's common stock in the United States.
The OSC has now requested that the order be extended until July 5, 2007; the company has agreed to the extension and will continue cooperating with the OSC to arrive at speedy conclusion of the matter.
At this time the Company would like to announce the appointment of Turner Stone & Company L.L.P., a U.S.A. CPA Firm located at 12700 Park Central Drive, Suite 1400, Dallas, TX. 75251.
The company is in the process of appointing an Investment Relations Firm, and their name will be announced as soon as the arrangements have been concluded.
Except for the historical information herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. When used in this press release, the words: believes, intends, anticipates, expects, predicts and similar expressions are intended to identify forward-looking statements. Actual results could differ materially from those expressed in, or implied by, the forward-looking statements based on a number of factors, including, but not limited to, costs, risks and effects of the on-going review by the Company, including the impact on the Company's ability to provide timely information as to the Company's business, operating results and financial condition; costs, risks and effects on the Company's business and the trading of its stock of legal proceedings and investigations, including the enforcement proceeding commenced by the OSC and the inquiry being conducted by the SEC; and the impact of the OSC order that trading in the Company's securities cease. Except as expressly required by the securities laws, the Company undertakes no obligation to update such factors or to publicly announce the results of any of the forward-looking statements contained herein to reflect future events, developments, or changed circumstances, or for any other reason.
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TPLE(.11) Full Year 2006 Results; Sales $24.7 Million, up 205%; EBITDA $468 Thousand, up 564%; Operating Cash Flow $1.9 Million Apr 2, 2007 5:00:00 PM MIAMI, FL -- (MARKET WIRE) -- 04/02/07 -- TelePlus World, Corp. (OTCBB: TLPE) (FRANKFURT: YT3) (www.teleplusworld.com), a wireless and telecom reseller offering specialized communications products and services in the U.S. and Canada, is pleased to announce its results for full year 2006 ending December 31.
TELECOM RESULTS - PULLS $15.9 MILLION IN SALES AND OVER $1.1 MILLION IN NET INCOME
Telecom sales for 2006 reached $15,904,049. Telecom EBITDA (defined as earnings before depreciation, amortization, interest expenses and taxes) was positive $1,983,445 and net income (before corporate overhead) was $1,141,622 (which is 6.9% of sales). Gross profit reached 31%. For further information please refer to note #12 in 2006 financial results.
WIRELESS RESULTS - PULLS $8.8 MILLION IN SALES AND OVER $588K IN NET INCOME
Wireless sales for 2006 reached $8,766,297. Wireless EBITDA was positive $721,902 and net income (before corporate overhead) was $588,629 (which is 6.7% of sales). Gross profit reached 47%. For further information please refer to note #12 in 2006 financial results.
CONSOLIDATED RESULTS FOR 2006 AND 4th QUARTER
Sales for full year 2006 ending December 31 increased by $16,577,657 (or 205%) to $24,670,346 as compared to $8,092,689 for the same period a year ago. Gross profit in 2006 increased to 37% from 33% a year ago. EBITDA (defined as earnings before depreciation, amortization, interest expenses and taxes) in 2006 was positive $468,063 (including $395k in expenses associated to the launch of Maximo Impact, Inc.) versus $70,412 a year ago. Operating income was negative $522,223 (including $395k in expenses associated to the launch of Maximo Impact, Inc.) versus negative $382,005 a year ago. Net income in 2006 was negative $2,698,774 (including a $267,496 charge from discontinued operations) versus negative $4,820,142 (including a $2,294,833 charge from discontinued operations). Operating cash flow in 2006 provided record $1,917,685 versus a use of 62,948 in 2005.
Sales revenues for the 4th quarter ended December 31 increased by $1,785,796 (or 47%) to $5,597,212 as compared to $3,811,416 for the same period a year ago. Gross profit as a percentage of sales increased to 38% in the 4th quarter of 2006 versus 31% for the same period a year ago. Net income in the 4th quarter of 2006 was negative $1,821,508 versus negative $3,114,103 a year ago.
"Overall we are very satisfied with 2006 results. Various non-cash items continued to negatively impact our earnings in 2006. These non-cash items which reached $3.2 million are primarily associated to our financing with Cornell Capital. As we repay this financing, impacts from non-cash items will decrease overtime. Operations continued to provide strong cash flow contributions (in excess of $1.9 million) allowing the reducing of acquisition obligations during 2006. We continue to monitor costs and have negotiated various reductions to costs of services and operating expenses which will benefit us in future quarters. The reduction in corporate staff which started in late 2006, now completed, coupled with an anticipated reduction in leased office space should reduce corporate costs in 2007. Overall our gross margin remained healthy in 2006 increasing to 37% from 33% a year ago," stated Marius Silvasan, Company Chairman and CEO. "In 2007 our focus turns on increased distribution," added Silvasan.
INVESTOR CALL AND WEBCAST
As a reminder the CEO web cast will be tomorrow, Tuesday April 3, 2007 at 9:00 a.m. Eastern Daylight Time. To access the call:
Call in Number: U.S./Canada (800) 299-0433 International (617) 801-9712
Event Code: 83939755
Instructions: The conference call will begin promptly at 9:00 a.m. ET, so participants should call in 5-10 minutes prior to the call to ensure that operators have sufficient time to record your name and company affiliation. A webcast link of the call will be available in the Investor section of the Company's web site.
Investor Presentation: An investor presentation will be available 20 minutes prior to the call. The presentation can be accessed through the internet access outlined above.
Email questions: Investors are also welcome to send any questions via email at investorrelation*teleplusworld.com.
About TelePlus World, Corp.
TelePlus World, Corp. ("TelePlus") (OTCBB: TLPE) http://www.teleplusworld.com, is a diversified North American telecommunications company that is a leading provider of wireless and telecommunications products and services. TelePlus, founded in 1999, has continued to grow organically and through strategic acquisitions. The company's wholly-owned subsidiaries include: Liberty Wireless, Corp., operates a prepaid MVNO (Mobile Virtual Network Operator) under the Liberty Wireless brand; Maximo Impact, Corp., operates a pay-as-you-go MVNO under the MX Mobile brand; and Telizon, Inc., which resells landline, long distance and internet services under the Telizon, Freedom and Liberty brands. TelePlus websites include www.libertywireless.com,www.vivaliberty.com,www.maximoimpact.com and www.telizon.biz among others. The Company has offices in Miami, Florida; Cleveland, Ohio; Montreal, Quebec; and Barrie, Ontario.
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development and acquisition of new product lines and services, government approval processes, the impact of competitive products or pricing from technological changes, the effect of economic conditions and other uncertainties, and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. TelePlus World, Corp. takes no obligation to update or correct forward-looking statements.
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WLSA(.08) Releases Fiscal 2006 Results Apr 2, 2007 5:55:00 PM 2007 *********wire, Inc. REGINA, Saskatchewan, April 2, 2007 (PRIME NEWSWIRE) -- Wireless Age Communications, Inc. (OTCBB:WLSA) announced its results for fiscal year 2006 today, reporting revenues of $33,592,847 and an overall loss of $9,927,265. The loss from continuing operations totalled $8,520,132. The loss from discontinued operations, representing the operating results of Knowlton Pass Electronics Inc. which was disposed of effective March 1, 2007, totalled $1,407,133.
Consolidated revenues from continuing operations were $33,592,847 during fiscal 2006 compared to $24,024,859 during fiscal 2005. The company posted $29,502,787 in product sales revenues and $4,090,060 in commissions and residual revenues during fiscal 2006, compared to $20,214,525 and $3,810,334, respectively, during fiscal 2005. Retail operating segment revenues grew from $11,332,696 in 2005 to $13,875,641 during fiscal 2006 representing growth of over 22%. Commercial operating segment revenues from continuing operations grew from $12,692,163 during fiscal 2005 to $19,717,206 in 2006, representing a 55% increase.
The fiscal 2006 continuing operations results included several special or non-cash charges and the losses of mmwave Technologies, Inc. ("mmwave") which subsequent to year end are in the process of being restructured. Fiscal 2006 mmwave revenues were approximately $9.5 million. The operating results of mmwave beginning in the first quarter of fiscal 2007 will be classified as discontinued operations.
John Simmonds, Wireless Age's CEO, commented, "In spite of the losses and the closure of mmwave we believe that a substantial portion of the top line revenues have been preserved going forward. The historic core business of Wireless Age should be capable of generating continuing operations go forward net profits."
For all Wireless Age investor relations needs, investors are asked to visit the Wireless Age IR Hub at http://www.agoracom.com/IR/WirelessAge where they can post questions and receive answers, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to WLSA*agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.
Note: This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on currently available competitive, financial and economic data and management's views and assumptions regarding future events. Such forward-looking statements are inherently uncertain. Wireless Age Communications, Inc. cannot provide assurances that the matters described in this press release will be successfully completed or that the company will realize the anticipated benefits of any transaction. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to: global economic and market conditions; the war on terrorism and the potential for war or other hostilities in other parts of the world; the availability of financing and lines of credit; successful integration of acquired or merged businesses; changes in interest rates; management's ability to forecast revenues and control expenses, especially on a quarterly basis; unexpected decline in revenues without a corresponding and timely slowdown in expense growth; the company's ability to retain key management and employees; intense competition and the company's ability to meet demand at competitive prices and to continue to introduce new products and new versions of existing products that keep pace with technological developments, satisfy increasingly sophisticated customer requirements and achieve market acceptance; relationships with significant suppliers and customers; as well as other risks and uncertainties, including but not limited to those detailed from time to time in Wireless Age Communications, Inc. SEC filings. Wireless Age Communications, Inc. undertakes no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with Wireless Age Communications, Inc.'s business, please refer to the risks and uncertainties detailed from time to time in Wireless Age Communications, Inc.'s SEC filings.
CONTACT: Wireless Age Communications, Inc. John G. Simmonds, Chairman and CEO
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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DRUG (.355) Announces 2006 Year End Results
PR Newswire "US Press Releases "
VANCOUVER, April 2 /PRNewswire-FirstCall/ - Dragon Pharmaceutical Inc. (TSX: DDD; OTC BB: DRUG; BBSE: DRP) today announced the results for its fiscal year ended December 31, 2006. As previously disclosed, Dragon sold a part of its formulation business effective July 1, 2006, therefore the financial results of 2005 were reclassified to reflect this change of business composition.
Financial Highlights for 2006
- Sales increased by 57% to $54.87 million from $35.06 million in 2005, mainly due to the growth in Chemical Division.
- Gross profit and gross margin increased to $10.02 million and 18.25% from $4.49 million and 12.80% in 2005.
- The comprehensive income was $5.72 million in 2006 compared to a comprehensive income of $0.93 million for 2005.
- Comprehensive net income per share increased to $0.07 for 2006 from $0.00 for 2005.
Financial Summary
Sales for 2006 increased 57% to $54.87 million as compared to 2005. The increase in sales was primarily achieved through the growth of sales from the Chemical Division, which increased by 68% as compared to 2005.
Gross profit reached $10.02 million, representing an increase of 123% over 2005. The gross margin was increased from 12.80% for 2005 to 18.25%. This is mainly achieved by lowering the production costs based on technology renovation and high utilization rate of production facilities.
Total operating expenses were $9.06 million for 2006 and $8.12 million for 2005. The net loss from operation was $0.60 million including two accounting treatments on non-cash expenses items totaling $1.96 million, out of which $1.57 million was non-cash accreted interest expenses on long term payables and $0.39 million was non-cash stock-based compensation expense.
Market Segment
The Company continued to expand the international market outside of China especially for Chemical products. In 2006, $35.26 million or approximately 64% of the sales were generated from the sales in the Chinese market, and the remaining $19.91 million or approximately 36% were from sales in international markets. In 2005, 70% of the sales were generated from the sales in the Chinese market, and the remaining 30% were from the sales in international markets.
Product Segment
Chemical Division was still the strong growth driver for sales in 2006. Of the total sales, $45.80 million or 83% were from the Chemical Division, $6.61 million or 12% were from the Pharma Division, and $2.46 million or 5% were from the Biotech Division. For the same period in 2005, 78% of sales were from the Chemical Division, 11% were from the Pharma Division and 11% were from the Biotech Division.
"The Company achieved the strong growth in sales under a very challenging market condition in 2006," said Yanlin Han, Chairman and CEO of the Company, "The market price for our main product dropped 30% in summer, and, as a result, only cost-efficient, large scale players, of which we are one, remain active when the market recovered in later time of the year."
Dragon is the third largest 7ACA producer and the market leader of Clavulanic Acid in China with a market share of 70%. Despite the unfavorable market condition, the business still showed a strong cash generating power of 13.67 million over 2006. This helped the Company to lower its debts burden to a more reasonable level.
"We believe the competition the Company went through in 2006 will help to restore the market order," said again by Mr. Han, "The Company has proven itself as a leading player and we are dedicated to doing an even better job."
Notes to Investors
Dragon has launched a new version of website with the same domain address. www.dragonpharma.com.
This press release contains forward looking statements, including but not limited to, that the Company will be able to maintain or increase its sales and market position. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward looking statement. Readers should not place undue reliance on forward looking statements, which only reflect the view of management as of the date hereof. The Company does not undertake the obligation to publicly revise these forward looking statements to reflect subsequent events or circumstances. Readers should carefully review the risk factors and other factors described in its periodic reports filed with the Securities and Exchange Commission.
CONTACT: Dragon Pharmaceutical Inc., Maggie Deng, Telephone: (604) 669-8817 or North America Toll Free: 1-877-388-3784, Email: irdragon*dragonpharma.com, Website: http://www.dragonpharma.com
SOURCE Dragon Pharmaceutical Inc.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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Apr 2, 2007 8:38:00 PM SAN DIEGO, April 2 /PRNewswire-FirstCall/ -- Alliance (OTC Bulletin Board: ALLP) today announced that it held two teleconferences with the holders of its outstanding Senior Convertible Promissory Notes ("Senior Notes"). The first teleconference took place on March 30, 2007. This teleconference was repeated on April 2, 2007.
In connection with the teleconferences, Alliance requested that each holder of a Senior Note execute an amendment to extend the maturity date of the Senior Note from April 1, 2007 to June 30, 2008. This amendment must be approved by substantially all of the Senior Note holders before it becomes effective. If the amendment is approved, Alliance intends to seek additional financing to fund its continuing operations through June 2008. Under the current plan, Alliance has enough funds to operate to the end of its fiscal year, June 30, 2007.
In December 2006, Alliance received approval from the French Competent Authority (regulatory agency) to conduct the Phase 2b clinical trial for Oxygent(TM) to prevent post-op ileus resulting from hypoxia during major surgery. As previously reported, Alliance subsequently submitted a protocol revision to the French authorities that modified the study to one that incorporated a dose-escalation protocol. This modification allows for the safety and efficacy to be evaluated at three dose levels. Approval of the modification from the French authorities is expected in April 2007. Alliance updated the Senior Note holders that it has sufficient funds to initiate the study, but not to complete it.
Alliance also informed the Senior Note holders of its intent to file two additional patents, one formulation patent and one method of use patent, related to the Oxygent technology.
About Alliance Pharmaceutical Corp.
Alliance Pharmaceutical Corp. is a development-stage pharmaceutical company that is currently focused on developing its lead product, Oxygent, which is based on its proprietary perfluorochemical (PFC) technology. Oxygent is being developed as an intravascular oxygen carrier designed to augment oxygen delivery in surgical patients.
Except for historical information, the matters set forth in this release are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth herein. Alliance has not had any substantive discussions to date with any potential financing source and does not know if such financing will be available to it on terms acceptable to it, or at all. Such financing may come in the form of preferred stock, having rights, preferences and privileges superior to our outstanding common stock or additional debt, which may have to be secured by some or all of the assets of Alliance. Alliance refers you to cautionary information contained in documents Alliance files with the Securities and Exchange Commission from time to time, including the last Form 10-KSB and Form 10-QSB. Alliance is under no obligation (and expressly disclaims any obligation) to update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.
SOURCE Alliance Pharmaceutical Corp.
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-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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PEFF(.23) Reports 2006 Results CEO Discusses 2006 Accomplishments and 2007 Goals Apr 2, 2007 8:01:00 PM Copyright Business Wire 2007 LAS VEGAS--(BUSINESS WIRE)--
Power Efficiency Corporation (OTCBB: PEFF), a developer and manufacturer of advanced energy savings technologies for electric motors, today announced its 2006 financial results on Form 10-KSB. Power Efficiency's Chairman and CEO, Steven Strasser, had the following comments on the results from 2006 and company objectives for 2007.
"In 2006, the Company made a number of accomplishments toward building a highly valuable green energy technology company. Although 2006 sales of less than $200,000 were not as high as I would have liked, great strides were made in areas we believe are important for developing long term shareholder value. These accomplishments are already beginning to bear fruit. For example, although Q1 2007 sales were roughly in line with past quarters, the Company is ending the quarter with purchase orders that exceed all of 2006 sales."
Other accomplishments in 2006 and early 2007 which we believe are critical for developing a leading energy technology company include:
-- Sales:
-- Increased purchase orders: Entering the second quarter, the Company's has purchase orders that exceed all of 2006 sales, including the recently announced order from the Los Angeles Metropolitan Transit Authority
-- Successful tests and utility incentive financing:
-- The Southern California Edison "2007 Escalator PowerGenius Program" in which the utility purchases our equipment for owners of escalators
-- A Prescriptive Rebate from the SureBet Program, covering Nevada Power Company and Sierra Pacific Company, for purchasers of our equipment for escalators in Nevada
-- Successful industrial equipment tests showing energy savings on a stamping press and crushing machine
-- Discussions commenced about licensing or making a private label product for original equipment manufacturers of products that would operate more efficiently by incorporating out technology.
-- Gross Margin:
-- Even with limited sales in 2006, we achieved a gross margin of 28%. We believe the release of the new products and potential for increased sales volume will ultimately enable the Company to improve margins further.
-- Technology and Intellectual Property:
-- Patent filings on new inventions to improve the efficiency of electric motors operating at constant speed.
-- Product Development:
-- The first digital three phase product for motors in industrial and commercial buildings is in the final stages of UL and CSA certification. The first production run is presently being manufactured.
-- Development of a single phase prototype for motors in residential and light commercial appliances. We are now building numerous units to further our discussions and tests with motor and appliance manufacturers.
-- Additions to personnel and advisors
-- The company added several highly experienced sales and product development personnel.
-- Technical advisor: Professor Yahia Baghzous, a professor of electrical engineering at UNLV, has a specialty in electric motors and energy technology
-- Marketing and strategy advisor: Kenneth Dickey, a retired senior executive with decades of experience in motors and controls
-- Investment from highly accomplished investors and insiders
-- The Company completed a debt financing of $2 million dollars and an equity financing totaling $4.2 million. The equity offering price was $0.30 per share with a warrant for every two shares and an exercise price of $0.40 per share. Financing came from accredited investors and over $1.2 million from the Company's directors and officers. Strasser continued: "The market for energy efficiency technologies has gotten better and better. I see it continuing to get better for years into the future because of a confluence of factors that are not going to change soon. First, many experts believe global warming is one of the greatest challenges our world faces in the twenty-first century. Electricity generation is a leading cause of greenhouse gas emissions, so we expect that any products which improve energy efficiency and reduce emissions will be warmly received in the marketplace. Second, energy prices continue to rise. Third, energy self-sufficiency has become a national security issue, as tensions rise between the U.S. and Venezuela, Iran and other energy exporting countries.
"I am very optimistic about the Company's opportunities in 2007 and believe this is an important year for us. We believe we have assembled an excellent team of people, our products and technology continue to improve, and we have an increasing number of large opportunities in front of us."
Summary 2006 Financial Results:
Total Sales: $$188,811
Total Gross Margin (and % of sales): $52,571 (28%)
Net Loss: $5,020,775
Net cash used for operating activities: $2,756,724 Pro forma (unaudited) sum of non-cash compensation and non-cash interest expense: $2,204,299
Pro forma (unaudited) net loss excluding non-cash compensation and non-cash interest: $2,816,476
About Power Efficiency Corporation
Power Efficiency Corporation develops and markets advanced energy saving technologies for electric motors. The Company's first product is an energy saving soft start. The product gradually brings an electric motor from rest to full speed. Once at full speed, the Company's patented technology works like cruise control for a car; it delivers the motor just enough electricity to maintain a constant operating speed, whether the motor is heavily or lightly loaded. The technology saves energy on motors found in applications such as escalators, elevators, grinders, granulators, mixers, saw mills and more. The controllers have also been shown to reduce the operating heat of the motor, producing significant motor life extension and downtime reduction benefits. Power Efficiency's products are CE Marked and CSA certified. The Company is also developing products to reduce the amount of electricity used by appliances and light commercial equipment, such as refrigerators, residential air conditioning and shop tools. For more information visit www.powerefficiencycorp.com.
As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company's products in the market; the Company's success in technology and product development; the Company's ability to execute its business model and strategic plans; and all the risks and related information described from time to time in the Company's SEC filings, including the financial statements and related information contained in the Company's 2006 Annual Report. Power Efficiency assumes no obligation to update the information in this release.
Source: Power Efficiency Corporation
---------------------------------------------- Power Efficiency Corporation Investor Relations: B.J. Lackland 702-697-0377 Chief Financial Officer blackland(at)powerefficiencycorp.com or Sales Inquiries: Bruce Gaynor 702-697-0377 Vice President of Sales and Marketing bgaynor(at)powerefficiencycorp.com
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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Pearl Asian Mining Industries Issues Clarification on Pink Sheets Announcement Entitled 'Pearl Asia Mining (PAIM) Not Eligible for OTCQX (Announcement)' Dated March 29, 2007 PAIM Reassures Shareholders and Investors That Steps Are Being Taken to List in a Higher Exchange Having More Stringent Reportorial Requirements This Year, Starting with Obtaining Market Maker Sponsorship
Pearl Asian Mining Industries, Inc., with Stock Symbols: U.S.A. (OTC: PAIM) (OTC: PAIMP); Germany (GER: R1Z) and (FWB: R1Z), issues the following clarification on a Pink Sheets announcement entitled “Pearl Asia Mining (PAIM) Not Eligible for OTCQX (Announcement)” dated March 29, 2007.
This clarification is directed towards an announcement stating that Pink Sheets received a copy of a press release stating that Atty. Stephen Czarnik had submitted an application to Pink Sheets in the last quarter of 2006 to become a Designated Advisor for Disclosure (DAD), and that approval of Atty. Czarnik’s application would bring Pearl Asia(n) Mining Industries Inc. closer to listing in the OTCQX this year. Moreover, the said announcement advised investors and other interested persons that Pink Sheets has not received an application from Mr. Czarnik to become a DAD or from Pearl Asia to list on OTCQX, and that based on “limited information available regarding this issuer (Pearl Asian Mining Industries) … it does not appear that Pearl Asia would meet the qualifications for an OTCQX listing, whether or not Mr. Czarnik is approved to serve as a DAD.”
The Press Release referred to in the first statement in preceding paragraph was issued on January 8, 2007 entitled “Pearl Asian Mining Industries, Inc. Engages Services of Accounting Firm Affiliated with One of the Top Global CPA Companies…,” the pertinent portion of which reads:
“Meanwhile, Atty. Stephen Czarnik, Pearl Asian's nominated Designated Advisor for Disclosure (DAD), has submitted his application to Pink Sheets the last quarter of 2006 and just awaiting to become an approved DAD for PAIM. Pearl Asian believes OTCQX's mandatory DAD application process shall ensure compliance with strict eligibility criteria. The approval of Pearl Asian's DAD brings PAIM closer to listing in the OTCQX this year 2007.”
Based on a recommendation by a group of investors, Pearl Asian Mining Industries, Inc. retained the services of Atty. Czarnik in September 2006. In October 2006, Pearl Asian submitted to Atty. Czarnik a completed OTCQX Prime application form for his evaluation and review. Subsequently, Atty. Czarnik advised Pearl Asian that he would act as PAIM DAD and file the necessary OTCQX application. Thereafter, Pearl Asian issued press releases pertaining to the status of PAIM’s OTCQX application based on information from Atty. Czarnik. Around the end of January 2007, Pearl Asian sent an email inquiry to Atty. Czarnik on the status of PAIM’s OTCQX application, which remains unanswered to date.
On March 6, 2007, after receiving several queries from shareholders, Pearl Asian sent an email inquiry to Pink Sheets on the status of PAIM’s OTCQX application and Atty. Czarnik’s application to act as PAIM DAD. Although Pink Sheets did not respond, Pearl Asian noted the substantial length of time elapsed since the application was allegedly submitted, and the fact that Atty. Czarnik was still not listed as an approved PAIM DAD. This prompted Pearl Asian to terminate the services of Atty. Czarnik and to search for a suitable replacement.
Management of Pearl Asian has concluded that Atty. Czarnik’s either did not apply or was not accepted to act as PAIM DAD and that PAIM’s OTCQX application was not submitted.
Aware of the fact that one of the requirements for PAIM’s application to list on a OTCQX exchange or in any alternative United States stock exchange is sponsorship by a market maker, management of Pearl Asian is currently working hard to procure a market maker and begin the process. Pearl Asian would like to reassure all of its valued shareholders and investors that the company still expects to achieve its key objective to list on the OTCQX exchange or in any alternative United States stock exchange (i.e. one with more stringent reportorial requirements) in fiscal 2007.
FORWARD-LOOKING STATEMENTS:
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.
Pearl Asian Mining Industries Inc. Gary Gotanco, 866-732-7888 or 011-63-2-567-5163 Fax: 877-317-4430 IR*PearlAsianMining.com www.PearlAsianMining.com
Source: Business Wire (April 2, 2007 - 9:41 AM EDT)
-------------------- "No nation was ever ruined by trade." Benjamin Franklin Posts: 533 | From: Dooville, Indiana | Registered: Jul 2006
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News for 'CHNW' - (Esprit Financial Group Inc. (Esprit) (CHNW.PK) Announces Signing of Letter of Intent With Japanese Delegation For Development of Payday Loan Chain)
LAS VEGAS, April 3, 2007 /PRNewswire-FirstCall via COMTEX/ -- Esprit FinancialGroupInc. (ESPRIT) (formerly Cash Now Corporation) (CHNW.PK) www.espritfinancialgroup.com is pleased to announce that a Letter of Intent(LOI)has been signed with a Japanese delegation after negotiations concluded late last night.The LOI is for the development of a chain of Payday Loan centers that will belocatedalong the Southern California coastline. A total of about 50 turnkey stores will be constructed over the next several years, utilizing Esprit'sproprietaryCash Now software and system. Esprit will also assist in the build-out of each location, as well as providing licenses on the softwareitself.Each location represents approximately USD $150,000.00 in fees, revenues and build out costs with a total budget of approximately USD $7,500,000.00milliondollars over the construction period.
The Japanese company will be developing the stores under their own banner, whichhasnot yet been finalized. Their existing business model is providing loans forsmallcap and high risk mortgages as well as money transfers in conjunction with Western Union.Esprit CEO Garr Winters noted; "This is a major contract for our Payday loandivision.We are working with a well-capitalized company that shares our vision of the growth potential for these services. The breadth of our capabilities wasoneof the key factors in their decision. Not only do we offer traditional payday loan services coupled with our powerful back-end office systems andproprietaryTrust Vault, but our capabilities with domestic and particularly our international prepaid debit and branded Visa/Mastercard products was a majorfactorin the decision".
Winters added; "We anticipate that a formal agreement will be signed within a 30-45 day time frame. Additionally Esprit is seeking out an exclusive first rightofrefusal on the repurchase of these locations. Both parties are keen to get this business deal started. Importantly, given our scalable systems, thisundertakingwill not have a material impact on our monthly burn rate. Profit margins are very attractive, even after accounting for the volume discountsfactoredin to the deal".
About Esprit Financial Group Inc.Esprit Financial Group Inc, (formerly Cash Now Corporation) is a public companyengagedin a diversified number of online financial services.
PayDay Loans: The Company is a pioneer in the payday loan industry, andcontinuesto develop the most comprehensive menu of services in the cash advance industry and will retain the Cash Now brand for many of these services.Operationsinclude licensing of a comprehensive suite of Internet-based payday loan and check cashing software and private label back end office systems forthesub prime market, under the Cash Now banner. The company's proven business model comprises operations in the U.S. and Canadian markets as well as severalforeignmarkets. Additionally, the Company's website is the most advanced payday-lending portal, offering key insight to clients and potential clientsalike.Forex: Additionally, the Company's Forex Trading division offers an innovativelow-costonline Forex trading service at www.cashnow.com. The Company acts as an Introducing Broker for Advanced Markets, Inc., and is targeted to serious daytraders.All transactions are handled on a streaming pass-through basis. There is no trading desk, and no manipulation of quotes that lag the actual interbankmarket.Importantly, traders can continue to trade actively even during volatile periods that result from major news events of publishing of market reports.Advanced Electronic Funds Management: The Company's Advanced Electronic FundsManagement(AEFM) division offers Cash Now Check 21 - an advanced checking clearing service that can significantly reduced holdback periods by bankinginstitutions,particularly valuable for international markets. Its EM2 (Electronic Money Management System) product is a comprehensive e-wallet capableofmanaging multiple bank accounts, remitting funds worldwide and provide banking capabilities to consumers without requiring that they have a bankaccount.Safe Harbor Statement
Posts: 1086 | Registered: Oct 2005
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HyPower Announces Hydrogen Research Partnership with Middle Tennessee State University Tuesday April 3, 8:30 am ET
WILMINGTON, Del.--(BUSINESS WIRE)--HyPower Fuel Inc. (PINKSHEETS: HYPF - News) is pleased to announce that it has negotiated a research alliance with Middle Tennessee State University (MTSU). Through this alliance, HyPower Fuel and MTSU will jointly fund Dr. Cliff Ricketts' research into plug-in flex fuel vehicles using hydrogen.
"This research partnership will ultimately result in a number of high-profile demonstrations of a vehicle powered by hydrogen within the next eight months," said Dr. Ricketts. "At the conclusion of this first partnership period, our team will also endeavor to set a new land speed record by a hydrogen powered vehicle at the Bonneville Salt Flats in Utah," added Ricketts.
"We are extremely proud of being associated with MTSU and Dr. Ricketts'. We plan in the next few months to have our H2 Reactor team visit MTSU to apply our hydrogen technology on Dr. Ricketts' alternative fuel vehicle systems," said Mr. Douglas Bender, President of HyPower Fuel Inc. "We expect that the synergy of this research partnership will definitely elevate awareness and use of hydrogen technology in a variety of transportation applications."
About the H2 Reactor (H2R)
The H2 Reactor is an electrolyzer that uses a unique process of electrolysis to create hydrogen and oxygen gases from water. After extensive technical research and development work with its joint venture partner, HyPower believes that the H2 Reactor's electrolysis process is technologically the most efficient to date with an unprecedented ratio of 1 liter of hydrogen production to an electrical input of 1 watt hour. This is approximately 2 to 2.5 times more efficient than the current state of the competing technology.
About Dr. Ricketts and Middle Tennessee State University (MTSU)
Dr. S. Clifton Ricketts has been a Professor at Middle Tennessee State University for over 30 years and has a B.S. and M.S. from the University of Tennessee and a Ph.D. from The Ohio State University. He has been involved with alternative fuel research since 1978 and his vast experience with alternative fuels include running engines off ethanol from corn, hydrogen from water and methane from cow manure. His work has been exhibited at the 1982 World's Fair and the Atomic Energy Museum in Oak Ridge. There is coverage of his work at the Smithsonian Institute and he is a 15 year holder of the Land Speed Record for a hydrogen vehicle at the Bonneville Salt Flats. Founded in 1911, MTSU is Tennessee's largest public university having a student population of approximately 25,000.
About HyPower Fuel, Inc.
HyPower Fuel, Inc. is a category leading company in the energy technology sector, focusing on providing innovative alternative energy through hydrogen production and hydrogen related products. HyPower has successfully commercialized the integration of hydrogen production and hydrogen insertion technologies using electrolysis to improve the overall performance and efficiency of the internal combustion engine while burning gasoline, diesel, natural gas, liquid propane, ethanol, methanol or a combination of fossil fuels and biofuels. For more information please visit: www.hypowerfuel.com.
Safe Harbor
Statements about the Company's future expectations and all other statements 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 forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties.
Contact: HyPower Fuel, Inc. Stephen Taylor, 973-351-3868 STEPHTAYL9*AOL.COM
-------------------------------------------------------------------------------- Source: HyPower Fuel Inc.
Posts: 201 | From: GA | Registered: Dec 2006
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Deep Down Executes Definitive Agreement To Acquire ElectroWave USA Tuesday April 3, 8:22 am ET
HOUSTON, April 3 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) announced today it has completed due diligence and executed a definitive purchase agreement for the acquisition of substantially all of the assets of ElectroWave USA, Inc., a Texas corporation, an electronic monitoring and control systems development company operating in the energy, military, and commercial business sectors. Deep Down formed a wholly-owned subsidiary, ElectroWave USA, Inc., a Nevada Corporation, to complete the acquisition. ADVERTISEMENT
ElectroWave offers products and services in the electronic monitoring and control system markets for the energy, military, and commercial industries. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems. ElectroWave's customers include Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, VT Halter, Atlantic Marine, New York City Department of Transportation, and others. ElectroWave's equipment is installed on some of the latest generation United States Coast Guard and United States Navy vessels. Current systems are in operation in the following areas: United States Gulf of Mexico, the North Sea, Baku, Vietnam, Singapore, Nigeria, Equatorial Guinea, Cameroon, Angola, India, Egypt, the United Kingdom, Russia, Brazil, Australia, Indonesia, and the Middle East.
"We are pleased to have completed the acquisition of ElectroWave, and believe this non-dilutive transaction is extremely beneficial for the company and our shareholders. As part of the acquisition, Deep Down paid-off $356,463.50 in bank debt and $43,815.00 in current debt of ElectroWave USA (Texas), along with ongoing accounts payable and received substantially all of the assets, including inventory, fixed assets, and accounts receivable. In addition, Deep Down may issue up to an aggregate of $517,000 in Convertible Preferred Stock over the next three years, as an additional contingent purchase cost, if the operations of ElectroWave reach certain financial milestones based on net income for the fiscal years ending December 31, 2007, 2008, and 2009. Such Convertible Preferred Stock, if issued in the future, would have a conversion price equal to the greater of (a) $0.50 per share, or (b) 120% of the volume weighted average price of the last reported trades for the 20 consecutive trading days immediately prior to December 31 of the respective year for which the Convertible Preferred shares are issued," commented Robert E. Chamberlain, Jr., Deep Down's chairman.
"ElectroWave's unaudited revenue for fiscal year 2006 was approximately $3.2 million," commented Martin Kershman, ElectroWave's President. "With the support of Deep Down, our backlog is growing, and we look forward to expanding revenue in 2007."
"Deep Down's acquisition of ElectroWave completes one element of our overall corporate growth strategy to consolidate offshore industry service providers, designers, and manufacturers of subsea, surface, and offshore rig equipment in oil and petrochemical markets throughout the world", commented Ron Smith, Deep Down's chief executive officer. "ElectroWave's operation is now in the process of relocating to Deep Down's 8-acre campus, in close proximity to its 60,000-square-foot manufacturing facility, in Channelview, Texas. We believe this consolidation will maximize our collective manufacturing, service, and administrative assets into an efficient operational environment."
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts for subsea distribution systems and assemblies that specialize in the development of offshore subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems. The Company's strategy is to consolidate service providers to the offshore industry, and designers and manufacturers of subsea, surface, and offshore rig equipment used by major integrated, large independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit www.deepdowninc.com and www.electrowaveusa.com
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
-------------------------------------------------------------------------------- Source: Deep Down, Inc.
-------------------- dab Posts: 545 | From: North Hollywood | Registered: May 2006
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EPGL(.0014) Tips Off Its 2007 Disability Awareness Night (DAN) Season With the New Jersey Nets Game at Continental Airlines Arena This Saturday, April 7 This DAN Event Is Made Possible by MetDESK and Blink Twice Apr 3, 2007 1:56:00 PM EAST RUTHERFORD, NJ -- (MARKET WIRE) -- 04/03/07 -- On Saturday, April 7 at 7:30 PM, the New Jersey Nets basketball team and EP Global Communications, Inc. (OTCBB: EPGL), parent company of Exceptional Parent (EP) magazine, will welcome cheering Nets fans to Continental Airlines Arena for Disability Awareness Night (DAN). Sponsored by MetDESK and Blink Twice, this DAN event is one of the first DAN partnerships EP has had with an NBA team.
As part of each DAN event an honoree or honorees are presented with the EP Maxwell J. Schleifer Distinguished Service Award for work and advocacy accomplished on behalf of people challenged with disabilities and special needs. The award is presented by the EP Foundation for Education and Exceptional Parent Magazine. The award is named after the late founder and former editor-in-chief of Exceptional Parent, a highly respected advocate and Champion of people with special needs and their families and caregivers.
MetDESK has nominated the National Organization for Rare Disorders (NORD). NORD is a unique federation of voluntary health organizations dedicated to helping people with rare "orphan" diseases and assisting the organizations that serve them. NORD is committed to the identification, treatment, and cure of rare disorders through programs of education, advocacy, research, and service. Jean Campbell, Vice President of Development for NORD, will be on hand to accept the award.
Blink Twice has nominated Penny Shaw, Project Director of Project HAPPY. Project HAPPY, a Hunter College sports and recreation program, is funded by grants and donations for people with disabilities. Penny, along with the help of thousands of volunteers from Hunter College and the community, has run Project HAPPY for over 26 years. Here, children and adults from ages 6 to 30 are able to enjoy a variety of athletic and recreational activities that promote skill development including basketball, bowling, swimming, weight training, Frisbee, yoga and aerobics just to name a few.
In reference to DAN events, EP Global Communications, Inc., President and CEO, Joseph M. Valenzano said, "Our goal is to help all Americans understand that we will become a stronger nation and better human beings when we learn to regard people with disabilities and special needs as people to be respected, not as problems to be confronted."
About Exceptional Parent
Based in Johnstown, PA, 36-year-old, award-winning EP Global Communications, Inc. is an integrated communications company providing information for families and professionals involved in the care and development of people with disabilities and special healthcare needs. EP uses a multi-media approach to disseminate information via: its publication, Exceptional Parent; Web site (http://www.eparent.com); custom communications projects; the EP Bookstore of disability books, videos and DVDs; live and on-line seminars through EPLiveOnLine, a joint venture with Vemics, Inc; and community outreach programs such as the national Disability Awareness Night (DAN) campaign developed through the EP Foundation.
About MetDESK
MetDESK�, MetLife's Division of Estate Planning for Special Kids launched in 1998, is one of the first programs of its kind in the financial industry, and is a program that focuses on the concerns of families with children or dependents with special needs. For more information about MetDESK, please call 1-877-MetDESK (1-877-638-3375) or visit the MetDESK Web site at www.metlife.com/desk.
Metropolitan Life Insurance Company ("MetLife") is a subsidiary of MetLife, Inc., a leading provider of insurance and financial services with operations throughout the U.S. and the Latin America, Europe and Asia Pacific regions. Through its domestic and international subsidiaries and affiliates, MetLife, Inc. reaches more than 70 million customers around the world and MetLife is the largest life insurer in the U.S. (based on life insurance in-force). The MetLife companies offer life insurance, annuities, auto and home insurance, retail banking and other financial services to individuals, as well as group insurance, reinsurance and retirement and savings products and services to corporations and other institutions. For more information, please visit www.metlife.com.
About Blink Twice
Blink Twice, one of the most innovative companies in the field of Assistive Technology, is revolutionizing the way children with disabilities like autism and cerebral palsy communicate. The company's product, the tango! melds the power of consumer electronics with highly innovative thinking about elevating literacy and social interaction for children who cannot speak. Founded by an advertising executive whose son has Cerebral Palsy, Blink Twice has received praise and recognition in media across the country: from the Daily News, to Exceptional Parent Magazine, to ABC World News with Charles Gibson. For more information call 877-BLINK-11 or visit www.blink-twice.com
Contact: Randy Newsome Director of Special Projects Phone: 201-248-4711 Email: rnewsome*eparent.com
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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