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ALRX(.105) and Proprius Pharmaceuticals Announce Top Line Results from Indaflex(TM) Phase II Study in Canada May 14, 2007 7:11:00 PM MARKHAM, Ontario and SAN DIEGO, May 14 /PRNewswire-FirstCall/ -- AlphaRx Inc. (OTC Bulletin Board: ALRX) and Proprius Pharmaceuticals, Inc. today announced top line results from the Indaflex(TM) 2.5% Topical Indomethacin Cream exploratory phase II clinical trial in osteoarthritis (OA) of the knee (INDF-200). The proof of concept study was initiated in September 2005 by AlphaRx, and was performed in Canada.
The randomized double-blind placebo and vehicle controlled trial, which included a six week treatment period, was conducted in 233 patients with OA of the knee. The primary endpoints used in the trial were the change from baseline to week six in the global Western Ontario and McMaster Universities Osteoarthritis Index (WOMAC) score and the subject's global assessment of efficacy. While the trial did not meet its primary endpoints, subgroup analyses of patients with moderate to severe pain and more impaired physical function at baseline showed positive trends in patients treated with Indaflex(TM) as compared to patients treated with either placebo or vehicle. Indaflex(TM) was demonstrated to be safe and well tolerated.
"We are encouraged by the results of this first human efficacy trial comparing Indaflex(TM) to both placebo and vehicle," said Michael J. Walsh, President & CEO of Proprius Pharmaceuticals. "The data point to the promise of Indaflex(TM) as a very well tolerated and safe topical NSAID product candidate, with potential for efficacy in treating moderate to severe pain and improving function for patients suffering from osteoarthritis of the knee. The knowledge gained from this proof of concept study has provided important insights on appropriate pivotal trial design. We are eager to discuss our findings with the Food and Drug Administration, and advance Indaflex into registration trials."
Dr. Lee S. Simon, a Rheumatologist and former Director of the Food and Drug Administration's Analgesic, Anti-Inflammatory and Ophthalmic Drug Products Division, and a consultant to the companies, commented, "The results of this initial clinical trial provide supportive evidence for the efficacy and safety of Indaflex(TM). This therapeutic product candidate has the potential to fulfill the need for an effective, tolerable and safer alternative to either oral non-selective NSAIDs or COX-2 selective inhibitors for the treatment of osteoarthritis of the knee, as well as other diseases and disorders which are associated with localized pain and inflammation."
About Indaflex(TM)
Indaflex(TM) is a topical NSAID (Non-Steroidal Anti-Inflammatory Drug) formulation in clinical development for the reduction of signs and symptoms associated with OA of the knee. Arthritis is the most common chronic disease in North America and afflicts an estimated 10% of the world's population. The active ingredient in Indaflex(TM), indomethacin, has a long-standing and proven clinical treatment record. Delivered through the skin using a proprietary nanoparticle technology developed by AlphaRx, the companies believe Indaflex(TM) will have an attractive efficacy, safety and tolerability profile in comparison to oral treatments and other topical preparations. Proprius Pharmaceuticals acquired the exclusive global rights to Indaflex(TM) (with the exception of Asia and Mexico) in April 2006.
About AlphaRx Inc.
AlphaRx is a clinical stage pharmaceutical company utilizing proprietary drug delivery technology to develop novel formulations of drugs that are insoluble or poorly soluble in water or have yet to be administrable to the human body with an acceptable delivery method. The Company's product candidates address various pharmaceutical markets, including arthritis, tuberculosis, ocular infection and inflammation, pneumonia and sepsis.
About Proprius Pharmaceuticals, Inc.
Proprius Pharmaceuticals is a specialty pharmaceutical company that develops and markets personalized medicine solutions in rheumatology and autoimmune diseases. This novel combination of proprietary pharmaceuticals and diagnostic services provides a strategic and differentiated approach to commercialization. Proprius is a privately-held, venture-backed company.
Forward Looking Statements:
This release contains forward-looking statements within the meaning and pursuant to the Safe Harbor provisions of the Securities Litigation Reform Act of 1995 and involve risks and uncertainties that may individually or mutually impact the matters herein described, including but not limited to product development and acceptance, manufacturing, competition, regulatory and/or other factors, which are outside the control of the companies.
SOURCE AlphaRx Inc.
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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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PYDS(.097) Announces April 2007 Transaction Volume and Predicts a Record Quarter for Transaction Processing Volumes Payment Data Systems, Inc. (OTCBB:PYDS), an integrated electronic payments solutions provider, today announced the company’s transaction processing performance for April 2007.
On an unaudited basis, our credit card processing dollar volume increased 87% in April from the comparable month one year ago, while the associated transaction volume was 60% higher. April’s strong volumes starts off the quarter with a pace that, if continued, will set a new record for transactions processed in a single quarter.
Michael Long, Payment Data Systems’ Chairman and CEO said, “As we look forward to the succeeding months we do see many positive signs. Our large new insurance industry client recently completed their integration and testing with our systems and moved into production in early May. We have also been experiencing significant interest in our private labeling for bill payment. I expect we will close several of these prospective accounts in the coming months. Finally, the Natalie Gulbis gift card continues to create a great deal of interest and we expect to roll that program out in early July. We are very excited about this particular program rollout.”
About Payment Data Systems, Inc.
Payment Data Systems, Inc. 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 Systems, Inc. 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'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.
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.
Payment Data Systems, Inc., San Antonio Michael Long, 210-249-4040 Investor Relations
Source: Business Wire (May 14, 2007 - 4:19 PM EDT)
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XDSL(.146) mPhase Technologies' Executive Vice President of R&D, Steve Simon, to Present Company's Breakthrough Technologies at Dusseldorf Conference on May 15th - IntertechPira May 14, 2007 5:22:00 PM Copyright Business Wire 2007
LITTLE FALLS, N.J.--(BUSINESS WIRE)--
mPhase Technologies, Inc. (OTCBB:XDSL), today announced that Steve Simon, its Executive Vice President of Research and Development, will present the company's breakthrough Smart Nanobattery technology at the IntertechPira "Organic and Thin Film Batteries" conference in Dusseldorf, Germany tomorrow, Tuesday, May 15th. The conference will be the first international venue at which mPhase is making a presentation on its nanobattery and MEMS projects.
Mr. Simon is available for comment about how mPhase and its new subsidiary, AlwaysReady, Inc. are revolutionizing the nanotechnology category with such cutting-edge products such as the Smart Nanobattery and ultra-sensitive magnetometer.
Mr. Simon stated that it is mPhase's expectation at Dusseldorf to expose its novel battery architecture and prototyping work towards its commercialization effort, work far along in development and which shows much promise.
According to conference organizers: "Consumer trends are driving innovation in sleeker, lighter devices. Coupled with the explosion of a new generation of printed electronic displays, sensors and ID tags, demand is growing for smaller, more discreet power sources. Add to this increasingly prominent safety and environmental concerns and the fact that performance can never be compromised, and it becomes clear that the industry is facing a true predicament."
"Innovative power components... are being created with the potential to tick all these boxes. Batteries are being produced only microns thick, whilst micro power devices are running from 100% renewable sources. It may seem like a futuristic concept, but with these novel component already emerging in real life commercial applications, technologies are at the tipping point."
Among those propelling technology to the tipping point are companies like mPhase technologies. The technology currently being developed by mPhase/AlwaysReady promises to help transform the way the electronics industry currently looks at microbattery applications.
AlwaysReady and its technologies will have a number of exceptional advantages in its two initial products: a "smart" nanobattery capable of producing current on demand after long term storage, as well as a family of uncooled magnetometers, including ultra sensitive versions capable of hundreds of times' improvement in sensitivity over currently available designs.
mPhase for some time now has had a multi-pronged effort under way with its partners to commercialize a battery that is built on a microscopic nanostructured architecture. mPhase has proven it is possible to fabricate nanotech-based "smart" batteries, which can store reserve power for decades and generate electric current virtually on demand.
The mPhase Nanobattery was highlighted in a feature article, "Building a Better Battery," in the November 2006 issue of WIRED magazine. The article said that the project that could potentially increase "battery life storage by an order of magnitude for the first time in 100 years." To read an electronic copy of the article, please (click here)
Investors interested in more info can call the mPhase IR agency at (212) 843-9337 or the company at 973-256-3737, x 110, or visit the web site at www.mphasetech.com.
About mPhase Technologies, Inc.
mPhase Technologies Inc. (OTC: XDSL) develops and commercializes next-generation media-rich entertainment software and nanotechnology solutions, delivering novel systems to the marketplace that advance functionality and reduce costs. The company was awarded the Frost & Sullivan 2006 Energy Storage Award for the Nanobattery, the 2005 Frost & Sullivan Excellence in Technology Award, and the Nano 50 Award from NASA Nanotech Briefs in 2005. The company is bringing nanotechnology out of the laboratory and into the market with a planned innovative long life battery. Additionally, the company is working on prototype ultra-sensitive magnetometers that promise orders of magnitude increases in sensitivity as compared with available un-cooled sensors. More information is available at the mPhase Web site at www.mPhaseTech.com
Safe Harbor Statement
This news release contains forward-looking statements related to future growth and earnings opportunities. Such statements are based upon certain assumptions and assessments made by management in light of current conditions, expected future developments and other factors it believes to be appropriate. Actual results may differ as a result of factors over which the companies have no control.
Source: mPhase Technologies Inc.
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Investor Relations: Rubenstein Investor Relations Tim Clemensen 212-843-9337 tclemensen*rubensteinir.com or Media: Public Relations Rubenstein Associates Peter Hamilton 212-843-8015 phamil*rubenstein.com
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DPAC(.10) Reports Financial Results for the First Quarter of Fiscal Year 2007 5/14/2007
HUDSON, Ohio, May 14, 2007 (BUSINESS WIRE) -- DPAC Technologies Corp. (OTCBB:DPAC), a leader in device networking and connectivity solutions, today reported results for its first quarter ended March 31, 2007.
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.
First Quarter Operating Results
Net sales of $2.8 million for the first quarter of 2007 were down 11% from net sales of $3.2 million in the first quarter of 2006 and $3.2 million in the fourth quarter of 2006. The Company reported an operating loss of $162,000 as compared to an operating loss of $52,000 for the first quarter of 2006 and an operating loss of $165,000 for the fourth quarter of 2006. The Company reported a net loss for the current year first quarter of $539,000 as compared to a net loss of $246,000 for the prior year's first quarter, and a net loss of $498,000 for the fourth quarter of 2006. Total operating expenses incurred in the first quarter of 2007 of $1.35 million decreased by $157,000 or 10% from the previous year first quarter period. The decrease was due primarily to decreases in sales and marketing expenses of $180,000 and G&A expenses of $23,000. Amortization expense for intangible assets of $123,000 increased by $82,000 over the prior year period which included only one month of amortization expense as compared to three months for the current year period. The prior year period included $78,000 of restructuring charges, of which none were incurred in the current year period. An income tax benefit of $139,000 was recorded in the first quarter of 2006 and no income tax benefit was recorded in the current year period as a full valuation allowance was recorded against deferred tax assets in the fourth quarter of 2006.
Balance Sheet Summary
At March 31, 2007, DPAC had total assets of $12.1 million, including cash and cash equivalents of $4,000. This compares to total assets of $12.1 million at December 31, 2006, which included $38,000 in cash and cash equivalents. As a result of the merger on February 28, 2006, the Company recorded goodwill and intangible assets of approximately $5.1 million.
Comments
Chief Executive Officer and President Steve Runkel commented, "Our first quarter results were impacted by softness in our Device Connectivity product line offset by continued growth in our Device Networking products. Our Device Connectivity revenue was down 18% sequentially and down 29% on a year over year basis. This revenue shortfall was primarily due to decreased shipments to several of our traditional OEM customers that utilize our serial port connectivity products."
Mr. Runkel continued: "Our Device Networking products generated revenue growth of 8% sequentially and growth of 91% on a year over year basis, reflecting our continued success in this market.
"Additionally, we continued to reduce our spending levels as we complete the integration initiatives from the merger in Q1, 2006. Our spending in Sales and Marketing decreased by 30% on a year over year basis, as a result of integrating the two sales teams."
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) March 31, December 31, 2007 2006 --------- ------------CURRENT ASSETS: Cash and cash equivalents $4 $38 Accounts receivable, net 1,554 1,421 Inventories 1,540 1,500 Prepaid expenses and other current assets 115 43 --------- ------------ Total current assets 3,213 3,002Property, net 391 413Goodwill and intangible assets 8,419 8,578Other assets 55 81 --------- ------------TOTAL $12,078 $12,074 ========= ============CURRENT LIABILITIES: Revolving credit facility and short term notes $1,724 $1,361 Current portion of long-term debt 2,215 2,097 Accounts payable 1,639 1,488 Accrued restructuring costs - current 364 392 Other accrued liabilities 572 514 --------- ------------ Total current liabilities 6,514 5,852Accrued restructuring costs 230 330Long-term debt, net of current portion 2,747 2,770Net stockholders' equity 2,587 3,122 --------- ------------TOTAL $12,078 $12,074 ========= ============ DPAC TECHNOLOGIES CORP. Condensed Consolidated Statement of Income (Unaudited) (in 000's) For the quarter ended: March 31, ---------------------- 2007 2006 ----------- ----------REVENUE $2,844 $3,194COST OF GOODS SOLD 1,656 1,739 ----------- ----------GROSS PROFIT 1,188 1,455OPERATING EXPENSES Sales and marketing 423 603 Research and development 308 265 General and administrative 496 520 Amortization of intangible assets 123 41 Restructuring charges - 78 ----------- ---------- Total operating expenses 1,350 1,507INCOME FROM OPERATIONS (162) (52)OTHER EXPENSES: Interest expense 376 333 ----------- ----------INCOME (LOSS) BEFORE INCOME TAXES (538) (385)INCOME TAX PROVISION (BENEFIT) 1 (139) ----------- ----------NET INCOME (LOSS) $(539) $(246) =========== ==========NET INCOME (LOSS) PER SHARE: Net Income (Loss) - Basic and diluted ($0.01) ($0.00) =========== ==========WEIGHTED AVERAGE SHARES OUTSTANDING: Basic and Diluted 92,821 73,760 =========== ========== SOURCE: DPAC Technologies Corp.
DPAC Technologies Corp. Steve Vukadinovich, Chief Financial Officer, 330-655-9000 Steve.Vukadinovich*dpactech.com or Steve Runkel, Chief Executive Officer, 330-655-9000 Steve.Runkel*Quatech.com
Copyright Business Wire 2007
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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ANWM(.046) Posts Positive First Quarter Revenues on the Pink Sheet Web Site Anywhere MD, Inc. (PINKSHEETS: ANWM) announces positive first quarter revenues and has posted these results on the Pink Sheet web site www.pinksheets.com/quote/finance.jsp?symbol=ANWM
CEO Steve Hixson said, "As we have stated before, Technology revolutions over the last twenty years have reduced costs and improved quality in nearly every industry -- with one notable and glaring exception -- the $1.6 trillion US healthcare industry."
He went on to say, "Anywhere MD spends thousands of dollars each month advertising in the most accredited Medical Journals. These advertisements generate a tremendous call volume on the company's toll free number which is closely screened for quality control reasons. Our new advertising programs along with increased marketing campaigns have exceeded all possible expectations. Referrals from existing customers are up over 200% and climbing. 2007 will prove to be the first of many exceptional growth years for Anywhere MD." Mr. Hixson went on to say, "The Company is currently expanding its sales and technical departments to accommodate this dramatic growth."
But large projects must start small, and price and ease-of-use have been major barriers for healthcare practices planning to make the shift to EMR. Until now... with increased outcry for nationwide EMR system implementation, a small, relatively unknown player in the market is poised to explode.
Anywhere MD, Inc. (PINKSHEETS: ANWM) has been a player in the EMR and healthcare information technology markets for the past thirteen (13) years and has developed a successful suite of mobile EMR technologies tailor made to the needs of the chiropractic market and is leveraging its experience in clinical documentation products to expand its revenue base and enter new healthcare markets.
Anywhere MD, Inc. (PINKSHEETS: ANWM) provides state-of-the-art HealthCare Technologies that are shaping a new generation of patient care. Anywhere MD's expertise in clinical documentation for physicians offers a broad range of technology products to improve productivity for healthcare providers and enable them to diagnose, treat and manage patient information at the highest level.
Anywhere MD, Inc. develops, markets, sells and supports proprietary software applications for mobile handheld devices. These mobile applications provide the physician with the most recent and accurate healthcare information at the "Point Of Care." This technology eliminates a confusing and tedious 'paper trail' that can lead to inaccurate and inadequate patient charting, resulting in malpractice suits and poor patient care.
ANWM is headquartered on the central coast of California and is committed to serving thousands of healthcare professionals across the USA, Canada, Europe, Asia and Australia. Company web site is www.anywheremd.com and contact is Ken Ash, SCG at 252-728-2925 or 252-342-8700.
Except historical matter contained herein, matters discussed in this news release are forward-looking statements and are made pursuant to the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risk and uncertainties, which may affect the Company's business and prospects and cause actual results to differ materially from these forward-looking statements.
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KWBT(.14) Revenues Up 124 Percent for Quarter Ended March 31, 2007 via COMTEX
May 14, 2007
CLAREMONT, Calif., May 14, 2007 (*********wire via COMTEX News Network) --
Kiwa Bio-Tech Products Group Corporation (OTCBB:KWBT) announced that revenues increased 124% for the three months ended March 31, 2007 compared to the same quarter in 2006, as reflected in its 1st quarter financial statements filed with the SEC.
Net sales for the three months ended March 31, 2007 were approximately $1.4 million, representing a 124.6 fold increase as compared with the first quarter of 2006. The significant increase is mainly due to the expansion of Kiwa's business into new segments. After setting up Tianjin KIWA Feed Co., Ltd. in July 2006, the Company has expanded into the bio-enhanced feed business, which generated significant revenue. At the same time, gross profit was about $140,000, representing an average gross profit margin of 10%. The net loss was $639,259 (including non-cash expenses of $251,890) for the three months ended March 31, 2007.
As of March 31, 2007, the Company's total assets were approximately $4.29 million. The current ratio was 0.99:1.
When giving comments on the Company's operating results and financial condition, Mr. Wei Li, the Board Chairman and CEO of Kiwa stated: "We made steady progress on both bio-fertilizer and bio-feed segments in the first quarter of 2007. We will keep making efforts on exploring these markets, increasing sales revenue, developing new products and controlling operating expenses. We believe the Company's operating results and financial condition will be further improved in the next quarter of 2007."
The Company timely submitted its 10-QSB report with the SEC on March 14, 2007. However, due to the incorrect filing of documents by another corporation, the Company's 10-QSB report may not be available for viewing at the SEC web site for several days. The 10-QSB filed by Tintic Gold Mining Company on May 11, 2007 and posted on Kiwa's location on Edgar is not Kiwa's 10-QSB. Tintic Gold Mining Company was formerly a subsidiary of the Company, but currently has no legal relationship to the Company. A copy of the Company's 10-QSB as filed with the SEC can be viewed at the Company's website at www.kiwabiotech.com.
About Kiwa Bio-Tech Products Group Corporation
The Company develops, manufactures, distributes and markets innovative, cost-effective, and environmentally safe bio-technological products for agricultural and natural resources and environmental conservation. The Company's products are designed to enhance the quality of human life by increasing the value, quality and productivity of crops and decreasing the negative environmental impact of chemicals and other wastes. For more information about the Company, please visit the Company's website at http://www.kiwabiotech.com.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
Kiwa Bio-Tech Products Group Corporation Yvonne Wang (626) 715-5855 kiwabiotech********** (C) Copyright 2007 *********wire, Inc. All rights reserved.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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News for 'EFGO' - (Esprit Financial Group Inc. (Esprit) (EFGO.PK) Announces Listing on the Frankfurt Exchange)
LAS VEGAS, NV, May 15, 2007 /PRNewswire-FirstCall via COMTEX/ -- EspritFinancialGroup Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com is pleased to announce that it has obtained its listing on the Frankfurt Exchange. TheCompanyhas been given the ISIN number: US29666R1041 and is trading under the ticker symbol GZW.The move will allow the Company to broaden its base of shareholders by reachingtothe international investment community. Cross-border listing is a proven andeffectivevehicle for increasing demand by overseas retail investors, who currently invest in U.S. equities. In addition, there are very favorable taxlawsfor German investors who invest their own currency and hold securities longer than twelve months.With the continuing expansion of Esprit's field of operations taking on a veryinternationalperspective, this presence will work in a synergistic manner with our anticipated growth in sales from international markets.The Company will be engaging European based Investor Relations professionalswithlocal market experience in promoting awareness of small and micro-cap businesses. Esprit CEO Garr Winters advised, "Our intent is to build the depthofour shareholder base. The best resource for the task is a company with a proven track record building awareness for small and micro-cap clients with duallistingsin the U.S. and Europe. Our financial advisors for the European market have pulled together a short list for our evaluation, with the objective ofbuildingbuy-side demand."
In other Company news, Esprit will be releasing its financial statements todayduringtrading hours. Garr Winters noted, "We had planned to release our quarterlies this morning. However, there has been a slight delay due to someproceduralchanges recently instituted by the Pink Sheets."
About the Frankfurt ExchangeAccording to exchange data at their website, 45 percent of Europe's top 300companieshave their primary listing on the London or Frankfurt exchanges. The Frankfurt Stock Exchange (FWB) is by far the largest of the eight German stockexchanges.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 onlyfloortrading through brokers but also fully-electronic trading facilities, whereby orders from any point in the globe are automatically inputted into theorderbook 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 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 www.cashnow.org. The Company also operates www.cashnow.net, which generates leads of consumers looking forpaydayloans on behalf of our licensees. The company's proven business model comprises operations in the U.S. and Canadian markets as well as several foreignmarkets.Additionally, the Company's website is the most advanced payday-lending portal, offering key insight to clients and potential clients alike.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 reduce 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.Structured Debt Resolution: This division will offer services that allow banks,financialinstitutions and other creditors to invite defaulted clients to negotiate a settlement online, in a neutral and non-confrontational manner,bypassingtraditional collection calls and mail delivered notices of default.
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SKRCO President & CEO Featured in Exclusive Interview With WallSt.net Tuesday May 15, 10:41 am ET
NEW YORK, May 15 /PRNewswire/ -- On May 11, B. Conrad and Les Eveneshen, the President and Chief Executive Officer for SKRCO, Inc. (Pink Sheets: SKCI - News) updated the investment community in an exclusive interview with www.wallst.net. Topics covered in the interview include an overview of the Company and the markets it serves, recent press releases, current capitalization, upcoming strategic and financial milestones. ADVERTISEMENT
To hear the interview in its entirety, visit www.wallst.net, and click on "Interviews." The interview can be accessed either by locating the company's ticker symbol under the appropriate exchange on the left-hand column of the "Interviews" section of the site, or by entering the company's ticker symbol in the Search Archive window
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COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Apple Rush Earns Organic & Kosher Certs., ATO Show Highlights. (.0008) BLUE ISLAND, Ill., May 15, 2007 (BUSINESS WIRE) -- RushNet, Inc's (RSHN.PK) Apple Rush division last week passed both its Organic and Kosher Certification inspections, allowing all its pre-sold orders to be released. Apple Rush Company personnel recently sampled Apple Rush at the All Things Organic (ATO) Trade Show in Chicago May 6-8. The heavily attended show was running concurrent with Grocery industry's FMI and United Produce Shows, as well as the Spring Fancy Food Show, where buyers from all channels crowded the booth and showed major interest in both the bottle and the forthcoming can line. With Apple Rush Company's beverages now fully credentialed, all doors are open to the expanding product line. The company's personnel saw that full potential at the ATO Show with buyers from large and smaller regional grocery, natural and specialty food chains agreeing to take the line on now. The company also received unexpected interest from foodservice buyers, both in the U.S. and overseas.
There was much foreign interest in the Organic Apple Rush line. A South Korean foodservice company, who servers one million meals a day, said they wanted the line as well as a major Japanese beverage distributor is looking to make a commitment to import the line. A key distributor with strong ties to a major food & beverage company who covers all the Caribbean and Central America was clearly interested developing its Organic program with Apple Rush as its centerpiece. There was also a serious inquiry from a high ranking U.S. Military Procurement Officer for developing a worldwide distribution program for the Organic Apple Rush line.
Robert Corr, President of RushNet and Apple Rush Company stated: "This was a certainly a busy show for us, surprising in some ways; I wasn't expecting to see the foodservice buyers until the National Restaurant Show in Chicago this weekend. The foreign foodservice interest was something special for a new beverage like ours, and I wouldn't be surprised if the volume of the can line exceeds the bottle line by early fall. Filling pre-sold orders from distributors in the Midwest, Southwest, California, the Northwest as well as Western & Eastern Canada, and Puerto Rico, will require us to have additional production runs sooner than we expected."
The company also stated that it has added new personnel who will strengthen the operation across the board. A Regional Sales Manager experienced in Metro-Chicago beverage sales has also been added. He will be making Headquarter calls at major grocery and independent chains to gain penetration into the various tiers of grocery distribution. Garden Beverage will handle a good amount of the distribution for those chains that authorize the Organic Apple Rush line.
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. 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 necessarily 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 which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements.
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