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(AVNR) Announces Positive Phase II Trial Results for AVP-923 In Alzheimer’s
– Significantly Improved Agitation in 220-Patient 10-week Study – – Company Plans to Meet with FDA to Discuss Initiation of Pivotal Development Program – – Data to be Presented at the American Neurological Association Meeting in October –
ALISO VIEJO, Calif., Sept. 15, 2014 — Avanir Pharmaceuticals, Inc. (NASDAQ: AVNR) today announced positive results from its phase II clinical trial evaluating the safety and efficacy of AVP-923 for the treatment of agitation in patients with Alzheimer’s disease. Treatment with AVP-923 was associated with significantly reduced agitation as measured by the primary endpoint, the agitation/aggression domain score of the neuropsychiatric inventory (NPI) compared to placebo (p=0.00008). The reduction in agitation was observed in both stage 1 (p=0.0002) and stage 2 (p=0.021) of the Sequential Parallel Comparison study design.
In addition, improvements were also seen in a majority of the secondary endpoints including the NPI total score (p=0.014), clinical global impression of change-agitation (p=0.0003), patient global impression of change (p=0.001) and measures of caregiver burden (p≤0.05).
“This is an exciting advancement in Alzheimer’s disease research,” said Jeffrey Cummings, MD, director of the Cleveland Clinic Lou Ruvo Center for Brain Health and chair of the study steering committee. “Dementia-related neuropsychiatric symptoms such as agitation are extremely distressing to patients and their families.”
“A potential new treatment option that could alleviate agitation or aggression as a result of Alzheimer’s disease would have a significant impact on the daily life of these patients and of their caregivers,” added Constantine Lyketsos, MD, director of the Johns Hopkins Memory and Alzheimer’s Treatment Center and also a member of the study steering committee.
“With no FDA approved drugs for the treatment of agitation in Alzheimer’s disease, we believe these results represent a breakthrough for patients,” said Joao Siffert, MD, chief medical officer at Avanir. “We are extremely excited with the prospect of bringing a potential treatment that can provide clinically meaningful relief to these patients and reduce caregiver burden. These study results represent the second neuropsychiatric disorder where AVP-923 has shown benefit and lends support for further advancement of our research programs into related disorders.”
Data from this phase II study will be presented at the American Neurological Association’s (ANA) 2014 Annual Meeting in Baltimore, MD, October, 12-14, 2014.
Based on these results Avanir plans to request a meeting with both the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) with the intention of discussing advancement of its dextromethorphan programs into pivotal studies for the treatment of agitation in patients with Alzheimer’s disease.
AVP-923 was found to be generally well-tolerated in this phase II study. The most common adverse reactions were falls, diarrhea, and urinary tract infection occurring in less than 10 percent of patients. There was a low patient discontinuation rate and there were no serious adverse events that were deemed treatment related by the investigators. AVP-923 is known to have certain risks (see ‘About AVP-923’ section below).
About the Study Design
The objectives of this phase II study were to evaluate the safety, tolerability, and efficacy of AVP-923 for the treatment of agitation in Alzheimer’s patients. The trial was a 10-week, multicenter, randomized, double-blind, placebo-controlled study utilizing a SPCD design intended to reduce placebo response rates. Enrollment was completed with 220 Alzheimer’s patients in the United States. Eligible patients were initially randomized 3:4 to receive either AVP-923 (dose escalated from DM 20mg/ Q 10mg to DM 30mg/ Q 10mg) or placebo. At the end of week 5, patients who initially received placebo were stratified according to their response to treatment and subsequently re-randomized 1:1 to receive either AVP-923 or placebo for the remainder of the study (an additional 5 weeks of treatment). Patients who initially received AVP-923 continued to receive AVP-923 DM 30mg/ Q 10mg for the remainder of the study. The main efficacy measure is the agitation/aggression subscale of the Neuropsychiatric Inventory or NPI. The primary endpoint follows a standard analysis of SPCD by combining the change from baseline to week 5 (stage 1: full analysis population) and change from week 5 to week 10 (stage 2) on the NPI agitation/aggression domain (patients who were considered “non-responders” to placebo during the initial 5 weeks). Secondary outcome measures include global assessments of disease severity, other neuropsychiatric symptoms, cognition, activities of daily living, quality of life and caregiver strain. Standard safety assessments will also be conducted.
About Agitation in Alzheimer’s Disease
An estimated six million Americans have Alzheimer’s disease, a number that has doubled since 1980 and is expected to be as high as 16 million by 2050. Alzheimer’s disease is generally characterized by cognitive decline, impaired performance of daily activities, and behavioral disturbances. Behavioral and psychiatric symptoms develop in as many as 60% of community-dwelling dementia patients and in more than 80% of patients with dementia living in nursing homes; as the disease progresses the risk of such complications approaches 100%. Dementia-related behavioral symptoms, including agitation, can be extremely distressing to the individual, the family, and caregivers. These behavioral disturbances have been associated with more rapid cognitive decline, institutionalization, and increased caregiver burden.
About AVP-923
AVP-923 is a combination of two well-characterized compounds, the active CNS ingredient dextromethorphan hydrobromide (an uncompetitive NMDA receptor antagonist, sigma-1 receptor agonist and inhibitor of the serotonin transporter (SERT) and norepinephrine (NET) transporter) plus low-dose quinidine sulfate (a CYP2D6 enzyme inhibitor), which serves to increase the bioavailability of dextromethorphan. AVP-923 is an investigational drug not approved by the FDA. AVP-923 is known to have certain cardiovascular risks and drug-drug interactions. Patients with history of certain cardiovascular risks and on certain drugs were excluded from the study.
About Avanir Pharmaceuticals, Inc.
Avanir Pharmaceuticals, Inc. is a biopharmaceutical company focused on bringing innovative medicines to patients with central nervous system disorders of high unmet medical need. As part of our commitment, we have extensively invested in our pipeline and are dedicated to advancing medicines that can substantially improve the lives of patients and their loved ones. For more information about Avanir, please visit www.avanir.com.
AVANIR® is a trademark or registered trademark of Avanir Pharmaceuticals, Inc. in the United States and other countries.
©2014 Avanir Pharmaceuticals, Inc. All Rights Reserved.
Forward Looking Statements
Except for the historical information contained herein, the matters set forth in this press release, including statements regarding Avanir’s plans, potential opportunities, financial or other expectations, projections, goals objectives, milestones, strategies, market growth, timelines, legal matters, product pipeline, clinical studies, product development and the potential benefits of its commercialized products and products under development are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the risks and uncertainties associated with delays in the release of study results, whether preclinical and clinical results for AVP-923 or other dextromethorphan drug products will be predictive of future clinical study results, whether regulatory agencies domestically and internationally will discuss advancement of one or more programs into pivotal studies, whether study data will be accepted for presentation and/or publication and whether a drug candidate can ultimately be successfully developed for commercialization, whether future clinical trials will be completed on time or at all, potential changes in cost, formulation, scope and duration of the clinical studies, obtaining additional indications for commercially marketed products domestically and internationally, obtaining and maintaining regulatory approvals domestically and internationally, whether new drugs can be successfully commercialized, and other risks detailed from time to time in the Company’s most recent Annual Report on Form 10-K and other documents subsequently filed with or furnished to the Securities and Exchange Commission. These forward-looking statements are based on current information that may change and you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update any forward-looking statement to reflect events or circumstances after the issuance of this press release.
Avanir Investor & Media Contact
Ian Clements, PhD
ir@avanir.com
+1 (949) 389-6700
BrewLife Media Contact
Kelly France, PhD
kfrance@brewlife.com
+1 (415) 946-1076
(NETE) Net Element to Bring Apple Pay to Merchants
Offering mobile payments so more customers can pay when, where and how they want
MIAMI, Sept. 17, 2014 — Net Element, Inc. (NASDAQ: NETE) (“Net Element” or the “Company”), a technology-driven group specializing in mobile payments and value-added transactional services in emerging countries and in the United States, today announces it will integrate Apple® services into its point-of-sale payment acceptance hardware and software, enabling Company merchants the ability to accept Apple Pay from customers. This new service will create a unique experience for customers who want to pay at the point-of-sale using their Apple® iPhone 6, Apple® iPhone 6 Plus and Apple® Watch devices.
When Apple Pay is available, customers can add their existing cards to the Apple Pay application. Anywhere they see the universal contactless acceptance symbol, customers can use the app on their Apple device to pay in person without physically swiping their card. Additionally, customers may use Apple Pay to make online purchases in apps with participating retailers while using their iPhone 6 and iPhone 6 Plus. Purchases are also protected by Zero Liability, which reimburses customers for promptly reported unauthorized transactions.
“With Apple Pay, an expected 60 million iPhone 6 and iPhone 6 Plus users will be ready to tap and pay anywhere contactless payments are accepted,” stated Oleg Firer, CEO of Net Element. “As part of our strategy to best capitalize on this massive opportunity and continue leading the mobile payment industry, we will be offering a free NFC Contactless, EMV-enabled point-of-sale terminal to merchants that upgrade to our Unified Payments service offering.”
About Net Element (NASDAQ: NETE)
Net Element (NASDAQ: NETE) is a global technology-driven group specializing in mobile payments and value-added transactional services. The Company owns and operates a global mobile payments and transaction processing provider, TOT Group. TOT Group companies include Unified Payments, recognized by Inc. Magazine as the #1 Fastest Growing Private Company in America in 2012; Aptito, a next generation cloud-based point of sale payments platform; and TOT Money, which has a leading position in Russia and has been ranked as the #1 SMS content provider by Russia’s second largest telecommunications operator. Together with its subsidiaries, Net Element enables ecommerce and adds value to mobile commerce environments. Its global development centers and high-level business relationships in the United States, Russia and Commonwealth of Independent States strategically position the Company for continued growth. More information is available at www.netelement.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, whether Net Element or its business continues to grow. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Net Element and are difficult to predict, Examples of such risks and uncertainties include, but are not limited to: (i) Net Element ‘s ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Net Element ‘s ability to maintain existing, and secure additional, contracts with users of its payment processing services; (iii) Net Element ‘s ability to successfully expand in existing markets and enter new markets; (iv) Net Element ‘s ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Net Element ‘s business; (viii) changes in government licensing and regulation that may adversely affect Net Element ‘s business; (ix) the risk that changes in consumer behavior could adversely affect Net Element ‘s business; (x) Net Element ‘s ability to protect its intellectual property; (xi) local, industry and general business and economic conditions; (xii) adverse effects of potentially deteriorating U.S.-Russia relations, including, without limitation, over a conflict related to Ukraine, including a risk that the U.S. government may decide to impose sanctions or other legal restrictions on U.S. businesses doing business in Russia. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K and the subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K filed by Net Element with the Securities and Exchange Commission. Net Element anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Net Element assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.
(LAKE) Announces Global Availability of Hazmat Suits for Ebola
RONKONKOMA, N.Y., Sept. 12, 2014 — Lakeland Industries, Inc. (NASDAQ: LAKE), a leading global manufacturer of industrial protective clothing for industry, municipalities, healthcare and to first responders on the federal, state and local levels, today announced the global availability of its protective apparel for use in handling the Ebola virus. In response to the increasing demand for specialty protective suits to be worm by healthcare workers and others being exposed to Ebola, Lakeland is increasing its manufacturing capacity for these garments and includes proprietary processes for specialized seam sealing, a far superior technology for protecting against viral hazards than non-sealed products.
Logo – http://photos.prnewswire.com/prnh/20120611/NY21959LOGO <http://photos.prnewswire.com/prnh/20120611/NY21959LOGO>
“Lakeland stands ready to join the fight against the spread of Ebola,” said Christopher J. Ryan, President and Chief Executive Officer of Lakeland Industries. “We understand the difficulty of getting appropriate products through a procurement system that in times of crisis favors availability over specification, and we hope our added capacity will help alleviate that problem. With the U.S. State Department alone putting out a bid for 160,000 suits, we encourage all protective apparel companies to increase their manufacturing capacity for sealed seam garments so that our industry can do its part in addressing this threat to global health.
Mr. Ryan continued, “With our diverse global operations and the breadth of our protective apparel line incorporating superior sealed seam technology, we are ideally situated to assist organizations worldwide as they handle Ebola. Despite reports citing the short supply of protective suits for handling hazardous materials, we believe it is very important to alert those in need around the world that Lakeland has appropriately qualified and certified suits, ample manufacturing capacity, and numerous distribution points to supply these garments.”
Last Friday, U.N. Secretary-General Ban Ki-moon laid out plans to set up an Ebola crisis center, with a mission to halt the spread of the virus in West African countries in six to nine months. He is counting on public and private funding from around the world of some$600 million needed for supplies in West Africa. Nearly 2,300 people have died and 4,300 confirmed or probable cases of Ebola have been reported since March. Mr. Ban said in a statement, “The number of cases is rising exponentially. The disease is spreading far faster than the response. People are increasingly frustrated that it is not being controlled.”
Within the past several weeks, Lakeland has provided suits that are being used by Doctors Without Borders in West Africa. Lakeland’s global team worked with leaders from Doctors Without Borders to ensure that the technical data and performance specifications for Lakeland’s garments exceeded the necessary protective requirements.
Two days ago, an NBC affiliate reported <http://www.nbcwashington.com/news/local/Non-Profit-Ships-276-Hazmat-Suits-Medical-Personnel-Ebola-Liberia-274683231.html> that PCI Global, a non-profit group with offices inWashington, DC, sent a quantity of hazmat suits toLiberia for use in the treatment of patients with Ebola. “These suits are essential to saving lives,” said PCI Vice PresidentRichard Parker in the report. “There’s a very short supply around the world. We were able to procure these 276 suits through a medical supply company inCalifornia, so we bought them up as soon as we could.” The suits that were procured and shipped were sealed seam garments manufactured by Lakeland Industries.
Lakeland’s ChemMAX 1 garments are being used in the fight against the Ebola virus based on their certification to EN 14126, the European standard for protective clothing for use against infective agents, and ASTM F1671 certification for protection from blood-borne pathogens along with its availability in sealed seam configurations. Lakeland has the same certifications for other protective garments, including MicroMAX NS and the remaining ChemMAX product line.
For additional product information or to place an order, please visit www.lakeland.com <http://www.lakeland.com/> or contact customer service:
United States at +1-256-350-3873Argentina at +54-11-4897-5760Brazil at +55-11-3613-3700Canada at 800-489-9131Chile at +562-551-8562China at +010-6437-9226India at +91-8447556757Mexico at 800-837-9236Russia at +7-495-775-72-64UK at +44-14304-78140
About Lakeland Industries, Inc.:
Lakeland Industries, Inc. (NASDAQ: LAKE) manufactures and sells a comprehensive line of safety garments and accessories for the industrial protective clothing market. The Company’s products are sold by a direct sales force and through independent sales representatives to a network of over 1,200 safety and mill supply distributors. These distributors in turn supply end user industrial customers such as chemical/petrochemical, automobile, steel, glass, construction, smelting, janitorial, pharmaceutical and high technology electronics manufacturers, as well as hospitals and laboratories. In addition, Lakeland supplies federal, state, and local government agencies, fire and police departments, airport crash rescue units, the Department of Defense, the Centers for Disease Control and Prevention, and many other federal and state agencies. For more information concerning Lakeland, please visit the Company online atwww.lakeland.com <http://www.lakeland.com/>.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Forward-looking statements involve risks, uncertainties and assumptions as described from time to time in Press Releases and Forms 8-K, registration statements, quarterly and annual reports and other reports and filings filed with the Securities and Exchange Commission or made by management. All statements, other than statements of historical facts, which address Lakeland’s expectations of sources or uses for capital or which express the Company’s expectation for the future with respect to financial performance or operating strategies can be identified as forward-looking statements. As a result, there can be no assurance that Lakeland’s future results will not be materially different from those described herein as “believed,” “projected,” “planned,” “intended,” “anticipated,” “estimated” or “expected,” or other words which reflect the current view of the Company with respect to future events. We caution readers that these forward-looking statements speak only as of the date hereof. The Company hereby expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company’s expectations or any change in events conditions or circumstances on which such statement is based.
(MYHI) Completes Positive Greenhorn Property Due Diligence
DENVER, CO–(Sep 12, 2014) – Mountain High Acquisitions Corp. (OTCQB: MYHI) (“Mountain High” or the “Company”), a strategic real estate holding company whose primary focus is the acquisition and development of commercial properties in the cannabis sector, is pleased to announce that the Company has completed all pre-closing due diligence regarding its previously announced letter-of-intent to acquire the 2.38 acre property and related structures in Pueblo, Colorado, known as the Greenhorn Property.
“We are excited to have successfully confirmed all the required title, zoning, water, and power related due diligence surrounding our planned acquisition of this outstanding development property in Pueblo,” stated Alan Smith, President of Mountain High Acquisitions Corp. “With this due diligence work behind us, we anticipate completing a definitive acquisition agreement with the vendors and closing the deal within the next 7-10 days.”
The 2.38 acre Greenhorn Property is ideally located adjacent to the Pueblo Freeway and meets all zoning requirements of the municipal authorities for the cultivation of marijuana and preparation of marijuana related products. The property currently holds an approximately 2,800 sq. ft. industrial use structure, and includes full grow rights for municipal water and a zoning allowance to build the entire footprint of the property two stories high with no set back.
Mr. Smith added, “Our immediate Phase 1 development and improvement plans for the Greenhorn property include engineering and building an initial 20,000 sq. ft. state-of-the-art greenhouse space and also securing a lease agreement with an experienced cannabis cultivator and dispensary license holder. Longer term plans for Greenhorn include an additional 60,000 sq. ft. of greenhouse expansion. We will discuss our additional strategic development plans for the property following closing of the acquisition.”
In addition, the Company has allowed the agreement with Deep Blue Enterprises LLC regarding the acquisition of three properties located in Colorado to expire. “The decision to not proceed with the Deep Blue transaction will allow the Company to more fully focus its energy towards continuing to build a first-rate portfolio of cannabis focused properties and other related assets,” concluded Smith.
About Mountain High Acquisitions Corp. (MYHI)
Mountain High Acquisitions Corp. is a strategic real estate holding company whose primary focus is the acquisition and development of commercial properties to be leased and utilized by the marijuana industry.
Disclaimer/Safe Harbor: This Mountain High Acquisitions Corp. news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include failure to meet schedule or performance requirements of the Company’s contracts, the Company’s ability to raise sufficient development and working capital, the Company’s liquidity position, the Company’s ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur as planned or at all. The Company does not and will not grow, harvest, distribute, or sell cannabis or any substances that violate United States law or the Controlled Substances Act, nor does it intend to do so in the future.
Investor/Media Contact:
Mountain High Acquisitions Corp. – Investor Relations
(844) 686-0420 (Toll-free)
E-mail: Email Contact
Website: www.mountainhighac.com
(PMCM) Board of Directors Declares Stock Dividend, Spin-Out of ESMG
SEATTLE, Sept. 12, 2014 — Primco Management Inc. (OTCBB: PMCM), a medical marijuana, real estate management and multi-media company, today announced that the Company’s Board of Directors has declared a stock dividend of its ESMG, Inc. music division, effectively divesting the entertainment asset to become a newly traded stock on the OTCQB market. Brandon Padilla, former Vice President of marketing at Virgin Records, has been appointed President. Shareholders as of record date October 1, 2014, will receive one share of ESMG common for each 50 shares of Primco Management, Inc.
“By splitting Primco into two distinct trading companies, we can utilize the public markets to separately and effectively fund each operation independently with no ill effect on the other and zero dilution to any current Primco shareholder,” stated David Michery, CEO of Primco. “I have great confidence in Brandon and am convinced that ESMG, as a separately traded entity, will greatly benefit all of our Primco shareholders in the long run.”
Brandon Padilla was a former Vice President of Marketing for Virgin Records and was credited as part of the team responsible for breaking the records of smash hit artists Daft Punk, Lenny Kravitz, Smashing Pumpkins and Mariah Carey. Terms of Mr. Padilla’s employment agreement were not disclosed at this time.
In other news, Primco announced that it has completed the acquisition and consolidation of “My Suzy Q’s” and “Seattle Green Care” in Seattle, WA.
About Primco Management Inc.:
Through its wholly-owned subsidiaries, ESMG Inc., Top Sail Productions and D & B Music, Inc., the Company operates as an integrated entertainment company with divisions in music and film production and distribution. Primco also operates in various aspects of the real estate industry. (For additional information, visit www.primcousa.com).
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.
Primco Management, Inc. (OTCBB:PMCM)
2211 Elliott Ave.
Suite 200
Seattle, WA 98121
United States
Phone: 206-455-2940
Email: contact@primcousa.com
(CGA) Reports Fiscal Year 2014 Financial Results
Provides Guidance on the First Fiscal Quarter 2015 and Fiscal Year 2015 Revenues and Net Incomes
XI’AN, China, Sept. 12, 2014 — China Green Agriculture, Inc. (NYSE: CGA; “China Green Agriculture” or the “Company”), a company that mainly produces and distributes humic acid-based compound fertilizers, varieties of compound fertilizers and agricultural products through its subsidiaries in China, today announced its financial results for the Fiscal Year ended June 30, 2014 and Guidance on Revenues and Net Incomes of the First Fiscal Quarter 2015 and Fiscal Year 2015.
Highlights:
- Sales increased 7.6% to $233.4 million; Net Income decreased 44.6% to $25.5 million; Earning per Share (EPS) of $0.81 in Fiscal Year 2014.
- First Fiscal Quarter 2015 Guidance: Revenue of $50.7 million to $54.3 million; Net Income of $5.9 million to $7.8 million; EPS of $0.18 to $0.24 based on 32.4 million fully diluted shares.
- Fiscal Year 2015 Guidance: Revenue of $254.7 million to $268.8 million; Net Income of $26 million to $35.1 million; EPS of $0.8 to $1.08 based on 32.4 million fully diluted shares.
Financial Summary
Fourth Fiscal Quarter 2014 Results (USD) | |||
(three months ended June 30, 2014) | |||
Q4 FY2014 | Q4 FY2013 | CHANGE (%) | |
Net Sales | $72.2 million | $69.8 million | +3.4% |
Gross Profit | $23.7 million | $24.5 million | -3.2% |
Net Income | $4.3 million | $14.3 million | -70.2% |
EPS (Diluted) | $0.11 | $0.51 | -74.3% |
Weighted Average Shares Outstanding(Diluted) | 31.4 million | 27.8 million | +12.9% |
Fiscal Year 2014 Results (USD) | |||
(Fiscal Year ended June 30, 2014) | |||
FY2014 | FY2013 | CHANGE (%) | |
Net Sales | $233.4 million | $216.9 million | 7.6% |
Gross Profit | $91.2 million | $79.4 million | 14.9% |
Net Income | $25.5 million | $44.8 million | -43.0% |
EPS (Diluted) | $0.81 | $1.61 | -49.6% |
Weighted Average Shares Outstanding(Diluted) | 31.4 million | 27.8 million | +13.1% |
“As we concluded our recent fiscal year, we look forward to a year with no distractions and expenses from the recently resolved class action lawsuit. The new fiscal year will start with a particular focus on building Jinong’s and Gufeng’s fertilizer franchises as well as consolidating Yuxing’s operations to pursue growth in agriculture product revenue. Furthermore, as we enter into the new fiscal year, China Green Agriculture is on its way to achieving the early benchmarks of our ten-year plan that was announced in the year of 2011.”
Mr. Tao Li, Chairman and Chief Executive Officer of the Company, stated, “We are very pleased with our performance in business operation, generating $25.5 million net income in the year ended June 30, 2014,” he concluded, “Looking ahead to the Fiscal Year 2015, we expect revenue of $254.7 to $268.8 million; net income of $26 to $35.1 million; and EPS of $0.8 to $1.08 based on 32.4 million fully diluted shares. We are confident in accomplishing our goals in the next year.”
Fourth Fiscal Quarter 2014 Results of Operations
For the three months ended June 30, 2014, net sales were $72.2 million, an increase of $2.4 million, or 3.4%, from $69.8 million for the three months ended June 30, 2013. Among which, Gufeng contributed $41.7 million or 57.8% of total net sales, as compared to $36.3 million, or 52.0% of total net sales in the same period last year; Jinong’s net sales decreased $3.3 million, or 10.0%, to $29.5 million from $32.8 million in the same period last year; Yuxing’s net sales increased $0.3 million or 37.1%, to $1.0 million, as compared to $0.7 million for the same period last year. This Net Sales increase was mainly attributable to the greater sales of humic acid fertilizer products, including our liquid and powder fertilizers, as a result of our increased distributors and the aggressive marketing strategy.
Cost of goods sold increased $3.2 million, or 7.0%, to $48.5 million for the three months ended June 30, 2014, as compared to $45.3 million in the same period last year; gross profit decreased by $0.8 million, or 3.2%, to $23.7 million as compared to $24.5 million in the same period last year; gross profit margin was approximately 32.9% and 35.1% of net sale for the three months ended June 30, 2014 and 2013, respectively; selling expenses were $10.5 million, or 14.5%, as compared to $4.3 million, or 6.2% of net sales for the same period last year, an increase of $6.2 million, or 142.5%.
Besides, general and administrative expenses were $3.1 million or 4.4% of net sales, as compared to $2.3 million, or 3.3% of net sales in the same period of last year, an increase of $0.8 million or 39.8%; total operating expenses as a percentage of sales were 23.7%, as compared to 9.5% in the same period of last year; operating income was $6.6 million, a decrease of $11.3 million or 63.3%, from $17.9 million in the same period last year. Operating margin was 9.1%, compared to 25.8% in the same quarter of Fiscal Year 2013.
Finally, net income was $4.3 million, a decrease of $10.0 million or 75.3% as compared to $14.3 million in the same period last year. The decrease was attributable to the increase in selling expenses and impairment expenses.
Fiscal Year 2014 Results of Operations
For the year ended June 30, 2014, the company’s total net sales were $233,402,088, an increase of $16,504,132, or 7.6%, from $216,897,956 for the year ended June 30, 2013, due to an increase in Gufeng’s and Jinong’s net sales: Jinong’s net sales increased $7,121,011, or 6.4%, to $117,706,033 from $110,585,022 for the year ended June 30, 2013. This increase was mainly attributable to the greater sales of humic acid fertilizer products including our liquid and powder fertilizers during this period as a result of our increased distributors and the aggressive marketing strategy; net sales at Gufeng were $112,011,233, an increase of $9,095,819 or 8.8%, from $102,915,414 for the year ended June 30, 2013. The increase was mainly attributable to Gufeng’s expanded its marketing promotion strategy; Yuxing’s net sales were $3,684,822, an increase of $287,302 or 8.5%, from $3,397,520 in the same period of last year. The increase was mainly attributable to the development in sales of Yuxing’s top-grade flowers.
Total cost of goods sold for the year ended June 30, 2014 was $142,203,315, an increase of $4,689,213, or 3.4%, from $137,514,102 for the year ended June 30, 2013. Among which, cost of goods sold by Jinong was $48,629,095, a decrease of $3,254,840, or 6.3%, from $51,883,935 for the year ended June 30, 2013. The decrease was primarily attributable to lower product costs for the mix of products being sold; cost of goods sold by Gufeng was $90,748,540, an increase of $7,728,093, or 9.3%, from $83,020,447 for the year ended June 30, 2013. The increase was proportional to Gufeng’s sales increase for the year ended June 30, 2014; cost of goods sold by Yuxing was $2,825,680, an increase of $215,960, or 8.3%, from $2,609,720 in the same period of last year. The increase was proportional to Yuxing’s increased sales for the year ended June 30, 2014.
Total gross profit for the year ended June 30, 2014 increased by $11,814,919 to $91,198,773, as compared to $79,383,854 for the year ended June 30, 2013. Gross profit margin was 39.1% and 36.6% for the year ended June 30, 2014 and 2013, respectively. Among which, gross profit generated by Jinong increased by $10,375,851, or 17.7%, to $69,076,938 from $58,701,087 for the year ended June 30, 2013. Gross profit margin from Jinong’s sales was approximately 58.7% and 53.1% for the year ended June 30, 2014 and 2013, respectively. The increase was mainly due to the increased weight for higher-margin products sales in Jinong’s total sales; gross profit generated by Gufeng was $21,262,693, an increase of $1,367,726, or 6.9%, from $19,894,967 for the year ended June 30, 2013. Gross profit margin from Gufeng’s sales was approximately 19.0% and 19.3% for the year ended June 30, 2014 and 2013, respectively. The decrease was not significant; lastly, gross profit generated by Yuxing was $859,142, an increase of $71,342, or 9.1%, from $787,800 for the year ended June 30, 2013. The gross profit margin was approximately 23.3% and 23.2% for the year ended June 30, 2014 and 2013, respectively. The increase was not significant.
Our selling expenses consisted primarily of salaries of sales personnel, advertising and promotion expenses, freight-out costs and related compensation. Selling expenses were $36,203,414, or 15.5%, of net sales for the year ended June 30, 2014, as compared to $14,365,869 or 6.6% of net sales for the year ended June 30, 2013, an increase of $22,697,397, or 158.0%. The selling expenses of Gufeng were $1,304,511 or 1.16% of Gufeng’s net sales as compared to $1,136,672, or 1.10% of Gufeng’s net sales for the year ended June 30, 2013; The selling expenses of Jinong were $34,848,143 or 29.60% of Jinong’s net sales, as compared to selling expenses of $13,168,541, or 11.91% of Jinong’s net sales for the year ended June 30, 2013. Most of this increase in Jinong’s selling expenses was due to the amortization of $27,390,957 of the deferred assets, as compared to $9,970,715 for the year ended June 30, 2013, which was related to our business strategy implemented since the first quarter of Fiscal Year 2014 to assisting the distributors in certain marketing efforts and developing standard stores to expand our competitive advantage and market shares.
General and administrative expenses consisted primarily of related salaries, rental expenses, business development, depreciation and travel expenses incurred by our general and administrative departments and legal and professional expenses including expenses incurred and accrued for certain litigations. General and administrative expenses were $14,515,884, or 6.2% of net sales for the year ended June 30, 2014, as compared to $9,632,523, or 4.4%, of net sales for the year ended June 30, 2013, an increase of $4,883,361, or 50.7%. The increase was mainly due to the related expense in the stock compensation awarded to the employees which amounted to $8,119,724 as compared to $3,489,687 for the year ended June 30, 2013.
Finally, net income for the year ended June 30, 2014 was $25,514,695, a decrease of $19,259,353, or 43.0%, compared to $44,774,048 for the year ended June 30, 2013. The decrease was attributable to the increase in selling expenses and the impairment charge related to the write-down of assets held for sale. Net income as a percentage of total net sales was approximately 10.9% and 20.6% for the year ended June 30, 2014 and 2013, respectively.
Financial Condition
As of June 30, 2014, the Company held cash and cash equivalents of $26.9 million, a decrease of $48.1 million compared to $75.0 million as of June 30, 2013. The decrease in cash and cash equivalents was due to the incurrence of deferred assets of $61,799,672, as compared to $5,093,448 as of June 30, 2013. This was a result of the advance made by Jinong to the distributors in marketing the Company’s products with credit guarantee by Mr. Tao Li, Chairman and CEO of the Company. The Company had $24.0 million in short-term loans as of June 30, 2014, an increase of $7.9 million, as compared to $16.1 million as of June 30, 2013. Net accounts receivable was $88.8 million, an increase of $3.5 million as compared to $85.3 million for the same period last year.
Others
On August 12, 2014, the United States District Court for the State of Nevada gave its final approval to the settlement of the securities class action pending against the Company and certain of its current and former officers and directors since October 15, 2010. As a result, all securities law claims that had been filed against the Company have now been resolved and dismissed.
First Fiscal Quarter 2015 and Fiscal Year 2015 Guidance
For the first quarter ending September 30, 2014, management expects net sales of $50.7 to $54.3 million, net income of $5.9 to $7.8 million, and EPS of $0.18 to $0.24 based on 32.4 million fully diluted shares. For the Fiscal Year 2015, management expects net sales of $254.7 million to $268.8 million, net income of $26 million to $35.1 million, and an EPS of $0.8 to $1.08 based on 32.4 million fully diluted shares.
Conference Call
The Company will hold a conference call at 8:00 a.m. ET on Friday, September 12, 2014. Any interested participants are welcome to join in the call by following the dial-in details as set out below. When prompted by the operator, please indicate “China Green Agriculture’s Fiscal Year 2014 Financial Results” to join the call.
Event: | CGA Fiscal Year 2014 Conference Call |
Date: | September 12, 2014 |
Time: | 8:00a.m. ET |
US Dial In: | 1- 877-407-8033 |
Int’l Dial In: | 1- 201-689-8033 |
Conference ID#: | 13590787 |
The call is being webcast by Vcall and can be accessed at China Green Agriculture’s website at http://www.ir-site.com/cgagri/events.asp. Investors can also access the webcast at http://www.InvestorCalendar.com.
A playback will be available through October 12, 2014. To listen, please call 1- 877-660-6853 within the United States or 1- 201-612-7415 when calling internationally. Replay Passcodes (both required for playback): Account #: 286; Conference ID #: 13590787.
About China Green Agriculture, Inc.
The Company produces and distributes humic acid-based compound fertilizers, blended fertilizers, organic compound fertilizers, mixed organic-inorganic compound fertilizers, slow-release fertilizers, highly concentrated water soluble fertilizers and agricultural products, such as top-grade fruits, vegetables, flowers and colored seedlings through its wholly-owned subsidiaries, Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd. (“Jinong”), Beijing Gufeng Chemical Products Co., Ltd. (“Gufeng”) and a variable interest entity, Xi’an Hu County Yuxing Agriculture Technology Development Co., Ltd. (“Yuxing”). Jinong produced and sold 125 different kinds of fertilizer products as of June 30, 2014, all of which are certified by the government of the People’s Republic of China (“PRC”) as “Green Food Production Materials”, as certified by the China Green Food Development Center. Jinong currently markets its fertilizer products to private wholesalers and retailers of agricultural farm products through 926 distributors in 27 provinces, four autonomous regions, and 3 central government controlled municipalities in PRC. Gufeng, and its wholly-owned subsidiary, Beijing Tianjuyuan Fertilizer Co., Ltd., are Beijing-based producers of compound fertilizers, blended fertilizers, organic compound fertilizers, and mixed organic-inorganic compound fertilizers. As of June 30, 2014, Gufeng produced and sold 328 different kinds of fertilizer products, and marketed its products through 263 distributors among China. For more information, visit http://www.cgagri.com. The Company routinely posts important information on its website.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning the Company’s business, products and financial results. The Company’s actual results may differ materially from those anticipated in the forward-looking statements depending on a number of risk factors including, but not limited to, the following: general economic, business and environment conditions, development, shipment, market acceptance, additional competition from existing and new competitors, changes in technology, the execution of its ten-year growth plan, a satisfactory conclusion of the pending securities class action litigation and various other factors beyond the Company’s control. All forward-looking statements are expressly qualified in their entirety by this Safe Harbor Statement and the risk factors detailed in the Company’s reports filed with the SEC. China Green Agriculture undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release, except as required by applicable law or regulations.
For more information, please contact:
China Green Agriculture, Inc.
Mr. Fang Wang (English and Chinese)
Tel: +86-29-88266383
Email: wangfang@cgagri.com
(MRDDF) Director Resigns
Miranda Gold Corp. (“Miranda”) (TSX-V: MAD) reports that Steve Ristorcelli, has resigned as a director of Miranda. He has served as a non-executive independent director for the past 19 years.
“We appreciate the contribution Steve has made in serving as a director for Miranda, providing the board with additional technical support and oversight to Miranda” said Board Chairman and CEO, Ken Cunningham.
The Company has four remaining directors two of whom are independent. The Company intends to recruit a third independent director.
About Miranda
Miranda is a gold exploration company active in Nevada, Alaska and Colombia, whose emphasis is on generating gold exploration projects with world-class discovery potential. Miranda performs its own grass roots exploration and then employs a joint venture business model on its projects in order to maximize exposure to discovery while minimizing exploration risk. Miranda has ongoing relationships with Agnico Eagle Mines Ltd., Prism Resources, Montezuma Mines Inc., and Red Eagle Mining Corporation.
For more information related to Miranda: Joe Hebert, Executive Vice President 775-738-1877
www.mirandagold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
(MINE) VitaminFIZZ® Begins 2nd Production Run Ahead of Schedule
Minerco’s Level 5 to Have Black Raspberry, Strawberry Lemonade and Pineapple Coconut on Shelves in September
HOUSTON, Sept. 11, 2014 — Level 5 Beverage Company, Inc., a subsidiary of Minerco Resources, Inc. (OTCQB:MINE), begins the second production run of its functional sparkling waters, VitaminFIZZ® today. This production run includes three new VitaminFIZZ flavors: Black Raspberry, Strawberry Lemonade and Pineapple Coconut. Level 5 Beverage will be producing the three new flavors this run to deliver to retail outlets in New York and Southern California. Bottles will also be made available for purchase on Amazon.com.
“The response to VitaminFIZZ has been extremely positive,” said V. Scott Vanis, Minerco’s Chairman and CEO. “In fact, the response has been so robust that we have begun production on our three new flavors ahead of schedule. While we focus our efforts on NYC and Southern California, we see this as a good sign for upcoming rollouts into new markets.”
This second run comes after a successful initial launch of VitaminFIZZ in August that included distribution to New York and Southern California through distributors Drink King and Avanzar, respectively. The initial launch of VitaminFIZZ also included sales through Amazon.com. Approximately 10,000 cases of VitaminFIZZ have been sold (including Purchase Orders) in just the first 20 days. The first run of VitaminFIZZ in August produced over 15,000 cases in the three original flavors, Orange Mango, Strawberry Watermelon and Lemon Lime.
All VitaminFIZZ flavors offer 100% of the Recommended Daily Intake of Vitamin C, Vitamin B6 and Vitamin B12. VitaminFIZZ fans should expect to see the new flavors available in late September on shelves in the New York market, closely followed by California and online at Amazon.com.
“Our distribution paths are opening up faster than anticipated,” said Darin Ezra, CEO of Power Brands Consulting and Director of Level 5 Beverage. “Retailers and distributors alike are quickly finding value in the VitaminFIZZ brand and with this momentum, we expect to see strong penetration in the first two markets before the end of the year.”
About VitaminFIZZ®
VitaminFIZZ is a lightly sparkling, flavor-filled, refreshing beverage with an awesome boost of essential vitamins developed to quench your thirst, naturally. VitaminFIZZ is caffeine free, is Non GMO, has zero calories and contains 100% of recommended daily Vitamin B and Vitamin C. Awaken your taste buds. Now that’s refreshing. See more at: www.vitamin-fizz.com, www.twitter.com/vitaminfizz and www.facebook.com/drinkvitaminfizz.
About Minerco Resources, Inc.
Minerco Resources, Inc. (OTCQB:MINE), is the parent company of Level 5 Beverage Company, Inc. (Level 5), a specialty beverage company which develops, produces, markets and distributes a diversified portfolio of forward-thinking, good-for-you consumer brands. The Level 5 brand umbrella includes: VitaminFIZZ(R), Vitamin Creamer(R), Coffee Boost(TM), The Herbal Collection(TM) and LEVEL 5(R). http://minercoresources.com.
Public Disclosure
Details of the Company’s business, finances and agreements can be found as part of the Company’s continuous public disclosure as a fully reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission’s (“SEC”) EDGAR database. For more information, please visit: http://www.minercoresources.com. The above statements have not been evaluated by the Food and Drug Administration (FDA). These products are not intended to diagnose, treat, cure or prevent any disease.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations and assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Some of these uncertainties include, without limitation, the company’s ability to perform under existing contracts or to procure future contracts. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, successful implementation of our business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. We undertake no obligation and do not intend to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Many factors could cause actual results to differ materially from our forward-looking statements.
CONTACT: Jason Grimley Spelling Communications jasongrimley@spellcom.com 323-309-8714
(BSRC) Teams With UCSB to Develop a Low Cost Supercapacitor for Solar Energy Storage
Nobel Laureate Leads the Research Team Developing the Company’s BioSuperCap(TM), a Patent-Pending Bio-Inspired Supercapacitor That Will Be Lower Cost and Higher Energy Than Conventional Supercapacitors
SANTA CLARITA, CA–(Sep 11, 2014) – BioSolar, Inc. (OTCQB: BSRC), developer of breakthrough products and materials that reduce the cost of photovoltaic (PV) solar modules, today announced that the company is developing BioSuperCap, a low cost polymer-based supercapacitor technology for reducing the cost of storing the energy of the sun.
BioSolar co-owns the patent-application for this supercapacitor technology with the University of California at Santa Barbara (“UCSB”), and is currently funding a sponsored research program to further its development. The lead inventors of the technology are UCSB professor Dr. Alan Heeger, the recipient of a Nobel Prize in 2000 for the discovery and development of conductive polymers, and Dr. David Vonlanthen, a post-doctoral researcher at UCSB.
According to the latest edition of NPD Solarbuzz Marketbuzz, the solar photovoltaic (PV) industry is predicted to experience rapid growth over the next five years, with up to 100 gigawatts (GW) of annual installations, growing to $50 billion per year of PV module revenue by 2018. With all of these solar panels being installed, there is still one major challenge that prevents solar from being a primary and reliable source of power — the sun does not shine at night.
As a result, solar users will switch to using electricity from the local power company during the evening hours. This switch causes sudden spikes in power demand on the grid and creates havoc at the local power company because the grid is not designed to respond to rapid demand changes. The key to solving this problem is efficient solar energy storage systems that can be charged and discharged rapidly, day in and day out. This will time-shift daytime solar energy for nighttime use with minimal reliance on the power grid.
Dr. David Lee, the company’s CEO said, “Existing battery technologies, such as lithium-ion batteries, are good for longer-term energy storage, but cannot be charged or discharged rapidly. This limits the use of batteries to power backup applications. Supercapacitors, on the other hand, can be charged and discharged hundreds of times faster than batteries. Unfortunately, conventional supercapacitors are very expensive and store less energy. BioSuperCap is designed to be a low cost and high energy supercapacitor. By integrating BioSuperCap as the front-end to battery banks, fewer batteries can be used, and daytime solar energy can be quickly and cost-effectively stored for nighttime use at a substantially lower cost. This potentially game-changing technology will allow users of solar energy systems to reduce their dependence or go completely off the electric utility power grid.”
About BioSolar, Inc.
BioSolar, producer of innovative bio-based solar energy products, is currently developing a breakthrough supercapacitor technology for reducing the cost of storing the energy of the sun. Existing battery technologies, such as lithium-ion batteries, are good for longer-term energy storage, but cannot be charged or discharged rapidly. This characteristic limits the use of batteries for power backup applications. Inspired by nature, BioSolar is developing a low cost polymer based supercapacitor that can be charged and discharged hundreds of times faster than batteries, and will complement batteries for the storage of solar energy. By integrating BioSolar supercapacitors as the high power frontend to battery banks, with fewer battery banks than would ordinarily be required, daytime solar energy can be quickly and cost-effectively stored for nighttime use at a substantially lower cost. This potentially game-changing technology will allow users of solar energy systems to reduce their dependence or go completely off the electric utility power grid. To learn more about BioSolar, please visit our website at http://www.biosolar.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
Investor Relations Contact:
Tom Becker
BioSolar, Inc.
Email Contact
(877) 904-3733
(APPG) Acquires Mobile App Concept to Empower Local Active Sports Enthusiasts
MIAMI, FL–(Sep 11, 2014) – Apptigo International, Inc. (OTCBB: APPG) (OTCQB: APPG), a non-conforming, highly creative agency and mobile app developer, today announced that it has acquired a novel new concept for a social/mobile app that the Company is betting will thrill active sports enthusiasts nationwide looking to get their ‘game on’ with friends and/or other athletes.
“Given that we are actively seeking app concepts for development, Apptigo is approached regularly by people with root ideas and mature concepts, as seemingly everyone has them and is excited to share them with us,” noted Casey Cordes, Chairman and CEO of Apptigo. “When this new sporting app concept was brought to us, we recognized immediately that it could be a big winner due to its unique real-world applications, mass audience appeal, and, of course, imaginative creative opportunities. We feel very fortunate to have succeeded in acquiring this concept and have great confidence that our creative dream team can succeed in developing it into a category-killing monster app.”
Pursuant to the Intellectual Property Purchase Agreement, Apptigo acquired all rights and title to the concept from its developer, Alexandros Tsiantaridis, a Miami-based luxury brand sales executive. The terms of the agreement provide for Tsiantaridis to be granted a warrant to purchase up to 100,000 shares of the Company’s common stock at an exercise price of $1.00 per share. In addition, Tsiantaridis will be entitled to receive a royalty equal to 10% of all net revenues generated by the app once it has been fully developed and released to market by Apptigo. Having relationships and influence with notable contacts in the action sports industry, Tsiantaridis has also agreed to contribute to the ongoing development and global marketing of the app.
“I am very pleased that Apptigo shares my enthusiasm for this sports-related app concept — particularly given their professional backgrounds and measurable creative experience in bringing to market cutting-edge products, brands and services. I look forward to working in close collaboration with the entire Apptigo team to help them make this concept an enormous commercial success for all of us,” said Tsiantardis.
About Apptigo International, Inc.
A creative agency and social/mobile app developer, Apptigo International was founded in 2012 by the forward-thinking, creative minds behind works such as: Ruthless & Toothless + Ruthless Collective; the web launch of Casa Casaurina, a.k.a. the Versace Mansion; and a host of other creative client experiences ranging from startups to Fortune 500 companies, such as Absolut Vodka, Carnival Cruise Lines, Minute Maid and Renault, among many others. The first commercial app in Apptigo’s fast-growing portfolio of proprietary apps and app concepts is SCORE™, an interactive dating game that allows people to determine their compatibility through answering entertaining and engaging questions. For more information about the Company, please visit www.apptigo.com.
Forward-Looking Statements
This news release may contain forward-looking statements. Forward-looking statements are indicated by words such as “expects,” “intends,” “anticipates,” “believes,” “forecasts,” “plans” and similar expressions. These forward looking statements are based on our current expectations and actual results could differ materially. Our ability to achieve the results anticipated in such forward-looking statements is subject to risks and uncertainties, including, without limitation, our ability to successfully centralize and consolidate various support functions, operating results, market acceptance of our solutions, strong brand recognition and other risks detailed from time to time in our reports filed with the Securities and Exchange Commission. These forward-looking statements are made in accordance with the “safe harbor” provided by the Private Securities Litigation Reform Act of 1995 and no assurance can be given that the future results that are the subject of such forward-looking statements will be achieved. The Company undertakes no obligation to publicly update or revise the forward-looking statements, whether as a result of new information, future events, or otherwise.
For More Information:
Go to www.apptigo.com and Click “Contact”
Apptigo Investor Relations
407-585-1080
(EFOI) Receives the Single Largest Order in the Company’s History
SOLON, Ohio, Sept. 11, 2014 — Energy Focus, Inc. (Nasdaq:EFOI), a leader in LED lighting technologies, today announced that the Company has received a $7.7 million order for the United States Navy combatant ship forces. This order, most of which is expected to be delivered throughout the remainder of 2014, represents the single largest order in the Company’s history.
This new delivery order is entirely for Energy Focus’ Intellitube® LED retrofit tubes. This true plug and play technology allows for direct fit into existing fluorescent sockets with or without the ballast in place. The proprietary circuit and LED lamp designed by Energy Focus is now employed and installed in more than 140 naval vessels in the vast U.S. Navy military fleet, up from fewer than 20 in the beginning of 2014.
“Over the past year, we have built extensive relationships with the U.S. Navy at various levels from the Pentagon to the ship forces, which now are broadly aware of the economic and sustainability benefits of our LED technologies, as well as the availability of our LED products,” said Eric Hilliard, President and Chief Operating Officer of Energy Focus. “We are extremely excited about and grateful for the unwavering commitment to energy and maintenance savings, as well as carbon reductions made by the leadership in the U.S. Navy. We are equally committed to working with and supporting all constituencies from the Navy to expedite their LED adoption initiatives in the quarters and years to come.”
“We are absolutely honored with the confidence the U.S. Navy has placed in Energy Focus and our LED products,” said James Tu, Executive Chairman and Chief Executive Officer of Energy Focus. “With over three decades of advanced lighting development experience and a long-term research partnership with the U.S. government in LED lighting since 2002, Energy Focus remains the only Navy Military-Spec qualified LED replacement lamp provider. We are also proud to say there has been zero failure in the lamps we have put on U.S. Navy ships since our first installation in 2007. We plan and fully expect to leverage our proven technologies and the resounding successes we have had with the U.S. Navy to build our presence and leadership in the broader maritime market, including military and non-military vessels that together represent a total addressable market of over $4 billion.”
Forward Looking Statements
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Generally, these statements can be identified by the use of words such as “believes,” “estimates,” “anticipates,” “expects,” “seeks,” “projects,” “intends,” “plans,” “may,” “will,” “should,” “could,” “would” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from Energy Focus’ forward-looking statements. These risks and uncertainties include, but are not limited to: the timing of the shipment of orders in our backlog, the benefits and performance of our lighting products; our ability to expand our sales with existing customers and other customers in the maritime market; growth in the markets into which Energy Focus sells; conditions of the lighting industry and the economy in general; statements as to our competitive position; the development and marketing of new products; relationships with the U.S. Navy, customers and distributors; trends in the price and performance of light-emitting diode (“LED”) lighting products; and our strategy with regard to protecting our proprietary technology. For more information about potential factors that could affect the financial results of Energy Focus, please refer to the Company’s SEC reports, including its Annual Reports on Form 10-K and its quarterly reports on Form 10-Q. These forward-looking statements speak only as of the date hereof. Energy Focus disclaims any intention or obligation to update or revise any forward-looking statements.
CONTACT: Media and Investor Contact: Energy Focus, Inc. (440) 715-1300 pr@energyfocusinc.com ir@energyfocusinc.com
(PLKD) “Where Healthy Begins” Campaign, to Begin Distribution to 7-Eleven Franchises
BURBANK, Calif., Sept. 11, 2014 — NYBD Holding, Inc. (OTCPK: PLKD), Pleasant Kids Inc, America’s premium supplier of naturally balanced alkaline water and all natural apple juice for children is pleased to announce that the Company will begin distribution of Pleasant Kids products to 7-Eleven franchises in South Florida. The initial roll out will commence with Pleasant Kids Products being available in over 30 select 7-Eleven locations with additional stores being added on a regular basis.
“We are very proud to have this opportunity to offer Pleasant Kids products to 7-Eleven franchises, the largest and most recognizable convenience store brand in the world,” commented Robert Rico, CEO of Pleasant Kids Inc. “We are off to a great start and based on our success with these select franchise locations, we expect to continue to expand our distribution footprint to potentially include all 7-Eleven franchises. We intend to undertake a very deliberate yet methodical approach towards increasing the Pleasant Kids footprint globally and this is the type of relationship that can expedite those efforts. The framework for our goal of experiencing exponential quarter over quarter growth is being laid out and we expect those results to begin to take us to the next level.”
Whats Next…
There will be no reverse split of our shares for the upcoming quarter. The board of directors has elected that there will be no reorganization of the companies common share for 2014.
Pleasant Kids can be found on the shelves of Price Choice Grocers, Presidente Supermarkets, Diamond Mart, C and B Distributers, R C Distributers, ICSSF Public Charter Schools, 7 Eleven Stores in South Florida, and online at www.pleasantkids.com and many more coming soon.
As always we would like to thank all of our shareholders and will continue to operate our company in a manner that best serves you. We will continue to update as to our accomplishments on a regular basis.
About 7 Eleven
7‑Eleven is the world’s largest convenience store chain with more than 53,500 stores in 16 countries, of which close to 10,400 are in North America. The company operates franchises and licenses close to 8,700 convenience stores in the U.S. and Canada. Of the more than 7,800 stores the company operates and franchises in the United States, more than 6,200 are franchised. Outside of the U.S. and Canada, there are more than 44,800 7‑Eleven and other convenience stores in Japan, Taiwan, Thailand, South Korea, China, Malaysia, Mexico, Singapore, Australia, Philippines, Indonesia, Norway, Sweden and Denmark. In 2012, 7 Eleven Stores generated worldwide sales in excess of 84 Billion Dollars.
About Pleasant Kids Inc.
Headquartered in Burbank, CA. Pleasant Kids is America’s premium supplier of naturally balanced pH-8.0+spring(alkaline) “healthy water” for children. The company features copyrighted mascot characters. The brand focuses on a positive message of love, happiness, and joy for children of all ages. Additionally, all the products are eco-friendly, BPA free, Non-toxic, No Bisphenol A, and No Phthalates. Pleasant Kids, Inc. owns and operates Pleasant Kids EXTRA, Inc. EXTRA manages the intellectual copyrighted characters and makes them available for select and limited business development, sponsorship opportunities and licensing deals
Safe Harbor Statement
THIS NEWS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS”, AS THAT TERM IS DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE. EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS.STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS”ESTIMATE”, “ANTICIPATE”, “BELIEVE”, “PLAN” OR “EXPECT” OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS CONTAINED IN THIS NEWS RELEASE INCLUDE STATEMENTS RELATING TO AS WELL AS THE RISKS SHOWN IN THE COMPANY’S MOST RECENT ANNUAL AND QUARTERLY REPORTS ON FORM 10-K AND FORM 10-Q, RESPECTIVELY, AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY’S EXPLORATION EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM TIME-TO-TIME WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION. THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NO SECURITIES REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED OF THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
For more information and all the latest from Pleasant Kids, Inc. (PLKD)
Please contact customer service at +1-855-710-KIDS or visit us at www.pleasantkids.com
Email us at info@pleasantkids.com
Pleasant Kids, Inc. 2600 West Olive, 5F Burbank, CA 91505
(VNRX) NuQ® Blood Test Detects 84% of Colorectal Cancers, Incl. Early & Late Stage
Topline Data from 1,000-Subject Independent Blinded Trial to be Presented 9am PT Today during Aegis Capital 2014 Healthcare & Technology Conference; webcast at volitionrx.com
NAMUR, Belgium, Sept. 11, 2014 — VolitionRx Limited (OTCQB: VNRX), a life sciences company focused on developing blood-based diagnostic tests for a broad range of cancer types, today announced that CEO Cameron Reynolds will this morning present topline data from its 4,800-subject colorectal cancer trial at Hvidovre Hospital, Copenhagen, Denmark. Mr. Reynolds will present data from an initial representative 938-subject sample, demonstrating that the Company is able to correctly diagnose 84% of colorectal cancers, including early-stage cancers, using its NuQ® blood-based diagnostic platform.
Mr. Reynolds will discuss the data during a presentation at the 2014 Aegis Capital Healthcare & Technology Conference today at 9:00 a.m. U.S. Pacific Time. Mr. Reynolds’ presentation will be available from today on the Company’s website at www.volitionrx.com.
Despite the existence of screening programs for the disease, colorectal cancer remains the second leading cause of cancer-related death in the U.S.[i], partly due to the cost, and to low compliance with colonoscopies and other screening methods like fecal tests. Furthermore, colorectal cancer is often found after symptoms appear, which typically only happens with more advanced disease[i]. However, colorectal cancer is one of the more survivable diseases if caught early: it has an observed five-year survival rate of 74% in stage I, but only 6% in stage IV[i]. Put simply, many lives could be saved if colorectal cancer were caught earlier. VolitionRx’s NuQ® test aims to meet this need by detecting colorectal cancer through a simple, accurate, cost-effective, blood test.
Analysis of the 938-subject sample of the study demonstrated that the NuQ® diagnostic test detected 84 percent of colorectal cancers at 78% specificity, and 60 percent of polyps, in a population aged over 50 years with symptoms indicative of colorectal cancer. The NuQ® test used to achieve these results was a panel of three individual NuQ® assays, each of which identifies and measures a separate nucleosome structure in the blood. Each NuQ® panel used a small amount of blood – only 60µL or about a drop per subject. Data showed that the NuQ® test is able to detect early stage (I or II) disease and late-stage (III or IV) disease with similar accuracy, allowing for earlier detection and treatment of colorectal cancer and enabling the potential for improved patient outcomes.
Dr. Jake Micallef, Chief Scientific Officer of VolitionRx, commented, “VolitionRx has shown similar results previously in smaller colorectal cancer studies but confirmation that NuQ® tests are effective in a large, blind study is a landmark result for us. Moreover, the Nucleosomics® technology is not limited to the three assays used in this study, but incorporates hundreds of potential epigenetic NuQ® tests that may have applicability in colorectal and other cancers. We will share further analysis of the results from these 938 subjects at the 9th International Conference of Anticancer Research in October this year.”
Professor Hans Jorgen Nielsen, Professor of Surgical Oncology at Hvidovre Hospital in Denmark, remarked, “This is an extremely promising result in a symptomatic population. Collection has now begun for a much larger 14,000-subject screening study in Denmark, and we expect to begin delivering the first several thousand samples to VolitionRx for analysis in the early part of 2015.”
Cameron Reynolds, Chief Executive Officer of VolitionRx Limited, commented, “An accurate, early, and cost effective blood test to screen for colorectal cancer would mark a revolutionary advancement in the way we test for and diagnose this terrible disease. These exciting results from our latest analysis, which demonstrated 84% accuracy in colorectal cancer detection, confirm that the NuQ® test enables accurate early identification of colorectal cancer through a simple blood test.”
VolitionRx has today closed a fund raise of $1.127 million. The raise consists of 512,614 shares at $2.20 (including insider conversions of $46,748). Monies raised will go towards VolitionRx’s ongoing operations and clinical trials.
VolitionRx will host a conference call to discuss this data, raise and the Company’s ongoing strategy on Tuesday, September 16 at 10 a.m. US Eastern Time. To attend the call, please use the information below for dial-in access. When prompted on dial-in, please utilize the conference ID or ask for the “VolitionRx Limited Investor Conference Call.”
Conference Call | |
Date: | Tuesday, September 16, 2014 |
Time: | 10:00 a.m. Eastern Time, U.S. |
Conference Line Dial-In (U.S.): | 1-888-572-7033 |
International/Toll Dial In: | 1-719-325-2484 |
Conference ID: | 5691688 |
Please dial in at least 10 minutes before the call to ensure timely participation. A playback will be available through September 30, 2014. To listen, please call +1-877-870-5176 within the United States or +1-858-384-5517 if calling internationally. Utilize the pass code 64623766 for the replay.
[i] American Cancer Society. “Colorectal Cancer,” 2014. Available at: http://www.cancer.org/acs/groups/cid/documents/webcontent/003096-pdf.pdf |
About VolitionRx
VolitionRx is a life sciences company focused on developing blood-based diagnostic tests for different types of cancer. The tests are based on the science of Nucleosomics which is the practice of identifying and measuring nucleosomes in the bloodstream – an indication that cancer is present.
VolitionRx’s goal is to make the tests as common and simple to use, for both patients and doctors, as existing diabetic and cholesterol blood tests. VolitionRx’s research and development activities are currently centred in Belgium as the company focuses on bringing its diagnostic products to market first in Europe, then in the U.S. and ultimately, worldwide.
Visit VolitionRx’s website (www.volitionrx.com) or connect with us on Twitter, LinkedIn, Facebook or YouTube.
About the Trial
This representative blinded 938-subject sample (these results were CRC versus no findings on colonoscopy and no comorbidities) was drawn from a 4,800 symptomatic-subject study conducted at Hvidovre Hospital, Copenhagen, Denmark. Samples were collected from 2010 to 2012 from subjects with colorectal cancer, polyps or adenomas, benign bowel diseases or other malignancies, all of whom have undergone a colonoscopy. Under the trial design, VolitionRx has full anonymized access to all Danish national registries and databases. The study group were all aged over 50; results were age- and gender-adjusted.
Safe Harbor Statement
Statements in this press release may be “forward-looking statements”. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “optimizing,” “potential,” “goal,” and similar expressions, as they relate to the Company, its business or management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the Company’s business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in the Company’s filings with the Securities and Exchange Commission.
Media Contacts
Charlotte Reynolds, VolitionRx
Telephone: +44 (0) 795 217 7498
Email: Charlotte.Reynolds@volitionrx.com
Kirsten Thomas, The Ruth Group
kthomas@theruthgroup.com
Telephone: +1 (646) 536-7014
Investor Contacts
Scott Powell, VolitionRx
S.Powell@volitionrx.com
Telephone: +1 (917) 721-9480
Lee Roth, The Ruth Group
lroth@theruthgroup.com
Telephone: +1 (646) 536-7012
(FBCD) Receives Additional Purchase Order For 100,000 Compression Knee Sleeves
NEW YORK, NY, United States, via ETELIGIS INC., 09/10/2014 – – FBC Holding, Inc. (PINKSHEETS: FBCD) (FBC or the Company) an international product development company primarily focused on license/creation management and product sales/distribution through DRTV, announced that the company received an additional purchase order for 100,000 units for a compression knee sleeve.
Understanding that our goal was to utilize our contacts within the industry and build a product that would be successful, not only by the company but ultimately the consumer. Having delivered approximately 1.4 million compression knee sleeves to date and now receiving this additional 100,000 unit order, is very exciting for our company said Mr. Frank Russo, Chief Executive Officer of FBC Holding, Inc. To date the total retail value of all the orders have reached approximately $15 million and has been an extremely successful venture for our company in such a short period of time.
Having executed this project really opened our eyes, seeing that the marketplace is accepting of compression fabrics that have been infused with copper. With that said, we are not only exploring sports related support items but looking at products that are used in our everyday life stated Mr. Russo, One of our goals is to introduce an item or items that have value, serve a benefit for the consumer and drive revenue for the company. Margin is the key to a successful business model and our focus is on the $15 million program that has been delivered to date. We learned many valuable lessons during this process, most importantly controlling our own destiny in order to capitalize on our own ability to develop, manufacturer and deliver product under the Copper-Tech brand.
Having the ability to develop the fabric from the yarn level has provided our company with the following benefits: 1) Retention of copper in the yarn of 99.9% after 30 wash cycles, 2) Anti-Microbial properties that kill fungus, bacteria and have odor eliminating properties as well, 3) Kills approximately 70% of P-Acne and 4) Reduction of body heat by 30 degrees Fahrenheit over a 40 minute frame. With these benefits, we are now awaiting finished samples that will reflect the above mentioned benefits that we can review and potentially make changes to construction, confirming fit and sizing.
About FBC Interactive Division
FBC Holdings Interactive Division markets innovative products generally incorporating new proprietary technologies. FBC Interactive, leverages Direct Response Television (DRTV) formats to advertise, market and distribute its products; gaining retail footholds in various markets. FBC Interactives market place is diverse, with a primary focus and expertise in toy and entertainment, consumer and health care, products and brands.
About FBC Holding, Inc.
FBC Holdings develops and markets innovative products using a new proprietary technology whereby buttons, switches, wires and other electrical components can be printed on nearly any media. Management is experienced in Direct to Consumer Marketing (design, manufacture and market creative products leveraging cutting edge technology). FBCs market is diverse, covering consumer products, health care related products, and, toy and entertainment products.
Safe Harbor
This news release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. Readers are referred to the sections entitled “Risk Factors” in the Company’s periodic filings with the United States Securities and Exchange Commission, which can be viewed at http://www.SEC.gov. For all details regarding working interests in all of FBC Holdings interest, and/or any previous news releases, go to OTC Markets website. You should independently investigate and fully understand all risks before making investment decisions.
Related Links:
http://finance.yahoo.com/news/fbc-holding-positioned-rapid-growth-142935672.html
http://finance.yahoo.com/news/fbc-interactives-direct-response-marketing-140000170.html
For Investor Relations,
FBC Holding, Inc.
info@fbcholdinginc.com
(TBEV) Completes $1.5 Million Dollar Private Placement
CAVE CREEK, AZ, United States, via ETELIGIS INC., 09/10/2014 – – High Performance Beverage Co. (OTC Pink: TBEV) (PINKSHEETS: TBEV) (the “Company”) is pleased to announce it has closed its $1.5 million dollar Private Placement financing.
The $1.5 million will come in the form of three separate tranches of $500,000 over the next several months as the company implements its core business model which will also include the introduction of additional beverage flavors and potential trend beverage mixtures throughout the year.
The Company still anticipates putting its Throwdown High Performance drink into full production for a dual coast distribution during the month of October 2014.
Toby McBride, High Performance Beverage Company CEO, stated, “We are very pleased to announce the closing of our Private Placement. We are currently awaiting the first initial $500,000 as we draw closer to putting Throwdown High Performance Beverages into full production. Distributors on both east and west coasts are prepared to put TBEVs product line on retailer shelves.
The Company is also pleased to announce it has completed the revamping of its Company website. Upon initial distribution of TBEVs product lines all beverages will be available for retail purchase on the website.
About High Performance Beverage Company
High Performance Beverage Company has created a new beverage segment, under the trade name, Throwdown Performance Beverages, which manufactures and distributes a line of sport performance beverages. High Performance Beverage Company’s sport performance drinks are carefully formulated to support mental focus and help increase blood flow, thereby giving the body the necessary fuel to power through a specific event or throughout the day. Our unique blends are designed to bridge the gap between supplements, energy and hydration drinks, ultimately broadening our appeal and providing access to an expanding target market. High Performance beverages are sugar free and extremely low in both calories and caffeine. This positioning makes High Performance Beverage Co. beverages first to market with a sustainable competitive advantage.
Safe Harbor
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of High Performance Beverage Company, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond High Performance Beverage Company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in High Performance Beverage Company’s filings with the Securities and Exchange Commission.
High Performance Beverage Co.
Public Relations and Shareholder Information
Joseph M. Vazquez III
Phone: (800) 767-9396
(TEVE) HyperCaster 4K Broadcaster Awarded Four Diamonds by BTR
MT. LAUREL, NJ–(Sep 10, 2014) – TelVue (PINKSHEETS: TEVE) is pleased to announce the TelVue HyperCaster® 4K IP Broadcaster was awarded Four Diamonds in this year’s Broadband Technology Report (BTR) Diamond Technology Reviews, for being “an excellent product, easy to operate,” according to the judges.
BTR criteria used in the Diamonds rankings include, first and foremost, unique technology or application thereof, innovation, ease of use, efficiency, reliability and contribution to profitability.
“The HyperCaster 4K is the first affordable SD, HD and 4K TV-station-in-a-box on the market. We are pleased that the distinguished BTR judges recognize its quality and ease of use,” said TelVue President and CEO, Jesse Lerman.
In evaluating the HyperCaster 4K, the judges commented: “With 4K TV’s now on the market, operators looking to offer some content specific to these devices can leverage TelVue’s HyperCaster 4K based on a friendly Linux system for easy systems integration. As a bonus, HyperCaster can also serve up an IP stream for consumer owned devices.”
The TelVue HyperCaster 4K is the latest version of TelVue’s flagship HyperCaster IP Broadcast Servers, which previously garnered industry awards for innovative, flexible and reliable content ingest, management and multi-format (SD, HD and 4K) playout features. The HyperCaster 4K can be used in all broadcast, Internet OTT, Cable, Satellite and Digital Cinema applications. The HyperCaster 4K will be on display at the upcoming SCTE Cable Tec Expo in Denver, Sept. 22-25.
About TelVue Corporation
TelVue® Corporation is a broadcast technology innovator and leader that helps video broadcasters automate their channels, expand their audiences across multiple screens, and broaden their ability to monetize their content. TelVue’s professional quality broadcast equipment and cloud video services include all-in-one digital broadcast servers, ad servers, live and VOD Internet streaming, multi-user contribution and transcoding, hosted broadcast, broadcast program sharing, and web-based digital signage. TelVue® serves the local origination and leased access needs for 9 of the top 10 Cable and Telco MSOs and over 100 cable & telco TV operators, powers over 2,500 hyperlocal and PEG channels, powers Over-The-Top and Subscription Internet channels on the most popular OTT boxes and gaming consoles, and delivers local and specialty programming to millions of college students, hundreds of hospitals, and to over 50 Million households. For more information about TelVue®, please visit http://www.TelVue.com
About Broadband Technology Report
Broadband Technology Report (BTR), celebrating its 10th anniversary in 2014, is the cable and telecom industry’s premier source for product and technology news, and is the most successful and fastest growing online outlet for product information and deployments; reviews and rankings; technology expertise; and buyer/seller facilitation. BTR’s portfolio includes online, print and video assets, all designed to help network operators build, upgrade and maintain high-performance communications networks. BTR, backed by more than 70 years of combined industry experience, delivers its email, online, print and video production services to more than 18,500 subscribers. If you are interested in subscribing, consult http://www.btreport.net/subscribe.html
About the Diamond Technology Review program
The BTR Diamond Technology Reviews (“the Diamonds”) is a renowned industry program — now in its 9th year — that was developed to recognize some of the top products and solutions available to the cable industry as determined by a stellar panel of cable telecommunications engineering experts. Engineering executives from Bright House, Buckeye, Comcast, Boyer Broadband, Suddenlink, and Time Warner Cable were among the third-party judges for the 2014 Diamonds. Every year, BTR invites vendors to submit written information about products/solutions that have been released or upgraded since the previous year’s SCTE Cable-Tec Expo (October 2013). Criteria used in the Diamonds rankings include, first and foremost, unique technology or application thereof, innovation, ease of use, efficiency, reliability and contribution to profitability.
PR Contact:
Paul Andrews
800-885-8886 x102
Email Contact
TelVue Corporation
16000 Horizon Way, Suite 500
Mt. Laurel, NJ 08054
1-800-885-8886
(NXHD) Next Slide the City™ Event: Los Angeles, California — September 28, 2014
SALT LAKE CITY, UT–(Sep 10, 2014) – Nexia Holdings, Inc. (PINKSHEETS: NXHD), parent company of Slide the City, LLC, is proud to announce that its next Slide the City™ event is set to be held in downtown Los Angeles, California on September 28, 2014 from noon until five pm, with extended hours for our VIP Sliders. Our last event in Boise, Idaho attracted over 3,000 participants and international news coverage.
The LA event will take in account the use of water related to the event by partnering with generosity.org to help them end the clean water crisis in developing countries through the development of clean water sources. We are also trucking the water used in the event to Griffith Park to replace one day’s use of potable water in the park. The event will be held in downtown Los Angeles at the intersection of Temple Street and Los Angeles Street. We are expecting a sold-out event. If you have not reserved your slide, visit our web site at http://www.slidethecity.com and book now.
Slide the City™ is bringing 1,000 feet of soapy vinyl to brighten the last days of summer in LA. Did we mention 1,000 feet? Yeah, that’s over 3 football fields. We wanted you to know that our slide was made right here in the good ole U.S of A and travels with us throughout the country.
Slide the City™ is a family friendly slip-and-slide water party event. There will be music, food, drinks, water, and of course the biggest slip and slide ever to hit asphalt. Don’t worry, we got this thing padded. Bring your water balloons, buckets, floaties, and water guns (non-realistic of course), to squirt, spray, splash, and get all attending soaked.
Richard Surber, CEO of Nexia, stated, “The first two events in Boise, Idaho and Salt Lake City, Utah were both successful. Slide the City™ will conduct this event with an eye on the water shortages afflicting the southern California area and will work to conserve and recycle much of the water used to make this event a fun occasion. Slide the City™ is receiving worldwide interest and we are planning to open up various other cities around the globe to a Slide the City™ event.”
About Nexia Holdings, Inc.:
Nexia Holdings, Inc. (PINKSHEETS: NXHD), headquartered in Salt Lake City, Utah, is a diversified holdings company with operations in entertainment, health & beauty, and real estate. Nexia owns a majority interest in Green Endeavors, Inc. (PINKSHEETS: GRNE), www.green-endeavors.com, which operates Landis Salons, Inc. Landis Salons II, Inc. and Landis Experience Center, LLC, www.landissalon.com, hair salons and hair product retail outlets built around the world-class AVEDA™ product line. Through WG Productions Company and Redline Entertainment, Inc., Nexia produces and distributes independent films for its own account and third parties. Learn more at www.nexiaholdings.com.
Nexia strongly encourages the public to read the above information in conjunction with its reports filed at www.otcmarkets.com. Nexia will require a significant influx of capital in order to effectively execute upon its various operational plans. The actual results that Nexia may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Investors should not invest more than they can afford to lose in penny stocks.
(FRZT) Partners W/ HighWater Group to Launch ‘Party Animals: Dance Battle’
TUSTIN, Calif., Sept. 10, 2014 — Freeze Tag (OTC:FRZT), a leading creator of mobile social games, today announced that it has selected HighWater Group as its marketing and PR agency to support the launch of its anxiously awaited free-to-play mobile game, Party Animals: Dance Battle.
“The app space is incredibly competitive and you need a savvy, integrated program to gain lift above the competitive din,” said Craig Holland, CEO, for Freeze Tag, Inc. “HighWater Group has the proven expertise within the mobile sector to help us gain traction with players.”
The collaborative partnership pairs the creative and interactive vision of Freeze Tag with the marketing and publicity acumen of HighWater Group. The integrated team is supported by an advanced set of metrics able to maximize monetization and player enjoyment while minimizing game disruption.
Set for a world-wide launch next month across iOS and Android app stores, Party Animals: Dance Battle is a fast-paced, multiplayer action game where battles are done on the dance floor.
About Freeze Tag, Inc.
Freeze Tag, Inc. is a leading creator of mobile social games that are fun and engaging for all ages. Based on a free-to-play business model that has propelled games like Candy Crush Saga to worldwide success, we employ state-of-the-art data analytics and proprietary technology to dynamically optimize the gaming experience for revenue generation. Players can download and enjoy our games for free, or they can purchase virtual items and additional features within the game to increase the fun factor. Our games encourage players to compete and engage with their friends on major social networks such as Facebook and Twitter. Founded by gaming industry veterans, Freeze Tag has launched several successful mobile games including the number one hit series Victorian Mysteries® and Unsolved Mystery Club®, as well as digital entertainment like Etch A Sketch®. Freeze Tag games have been downloaded millions of times on the Apple, Amazon and Google app stores.
Safe Harbor Notice
Certain statements contained herein are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). Freeze Tag, Inc. cautions that statements made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. Freeze Tag, Inc. undertakes no obligation to revise these statements following the date of this news release.
CONTACT: info@freezetag.com 714-210-3850 x26
(FLRE) Begins Shipping Cannadol Hemp Oil Orders
Company Plans on Introducing Second CBD (“Cannabidiol”) Product Within Days Company to Open Amazon Webstore to Further Drive Online Revenues
VENICE, Fla., Sept. 10, 2014 — Flameret, Inc. (OTC: FLRE) announced today that Royal Hemp Corporation, its wholly-owned Colorado subsidiary, has begun shipping high CBD hemp oil orders. The company previously announced the launch of Cannadol™, its high CBD (cannabidiol) hemp oil. Over the first three days after the product launch was announced, the company received orders from 21 different customers. Further details regarding initial revenues will be announced in the company’s financial statements that will be filed at http://www.otcmarkets.com.
Cannadol™ is a dietary supplement sold as a hemp oil rich in CBD. It consists of 200mg of cannabidiol cold pressed from industrial hemp in an oral suspension of 1 ounce of hemp oil. None of the statements regarding Cannadol™ or the potential therapeutic benefits of cannabidiol have been evaluated by the FDA.
Scientific and clinical studies continue to underscore CBD’s potential as a possible treatment for a wide range of conditions, including rheumatoid arthritis, diabetes, alcoholism, MS, chronic pain, schizophrenia, PTSD, antibiotic-resistant infections, epilepsy, and other neurological disorders. CBD has demonstrated neuroprotective and neurogenic capabilities, and its anti-cancer properties are currently being investigated at several academic research centers in the United States and elsewhere.
John Meredith, Chief Executive Officer of Flameret, Inc. remarked, “The launch of Cannadol™ and the response from consumers has far surpassed our internal expectations. We expect to deliver more good news to the investment public within a week.”
Mr. Meredith added, “It is very important as we update investors on our progress that investors also understand that we fully intend on pursuing what we perceive to be a large business opportunity in the flame retardant industry. There seems to be a misconception that we have abandoned that pursuit, however, nothing can be further from the truth. We have recognized an opportunity and we also had confidence that we can get a hemp-based product out on the market quickly. We have done that and our pursuit of a major business opportunity in the flame retardant industry continues.”
About Flameret
Flameret, Inc. has developed fire retardant products to suit a wide range of applications. These products are marketed under the brand names; Flameret, Flamex, Ultra Flamex and Impex. Flameret™ products are patented and held in the name of United American Inc.
The company is also in the process of launching a new line of products derived from industrial hemp which will be marketed and sold through Royal Hemp Corporation.
About Royal Hemp Corporation
Royal Hemp Corporation is a Colorado corporation which was created to market and sell hemp-based nutraceuticals, industrial products and consumer goods in the United States and throughout the world. All of the corporation’s products will be legal to sell in all states in the United States and in many countries throughout the world.
The press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to the Company’s development program and any other statements that are not historical facts. Such statements involve risks and uncertainties, including, but not limited to, those risks and uncertainties relating to difficulties or delays in development, testing, regulatory approval, production and marketing of the Company’s products, the uncertainty of patent protection for the Company’s intellectual property or trade secrets, and the Company’s ability to obtain additional financing. Such statements are based on management’s current expectations, but actual results may differ materially due to various factors, including those risks and uncertainties mentioned or referred to in this press release.
Contact: John Meredith: jwsmeredith@aol.com
+44 1732 460224
(AKER) $864,000 Sales Contract for Its Rapid Results Point of Care Cholesterol Test
New Cholesterol Test Takes Only Three Minutes to Produce Results; Addresses a Worldwide Market Estimated at $2 Billion
THOROFARE, N.J., Sept. 9, 2014 — Akers Biosciences, Inc. (Nasdaq:AKER) (AIM:AKR.L), (the “Company” or “ABI”), a leading designer and manufacturer of rapid diagnostic screening and testing products, announced a contract valued at $864,000 for sales of its innovative Tri-Cholesterol “Check” tests in Australia, Singapore, the United Arab Emirates and Oman. The Company’s products are being distributed in such regions by 36 Strategies General Trading LLC (“36S”), a Dubai-based procurement solutions company. Target customers in Australia, Singapore, the United Arab Emirates and Oman include military forces, medical associations, universities and large companies operating in the resources sector.
The Company’s Tri-Cholesterol “Check” is a revolutionary finger-stick blood sample technology and the only combined rapid test which provides an estimate of both Total and High Density Lipoprotein (“HDL”) cholesterol levels; thereby providing an estimate of the subject’s Low Density Lipoprotein (“LDL”) levels.
ABI’s Tri-Cholesterol “Check” test carries a U.S. Food and Drug Administration (“FDA”) Over-the-Counter approval; three CE marks for the European Economic Area; and a Health Canada approval.
Raymond F. Akers Jr., Ph.D, Executive Chairman of Akers Biosciences, stated, “This order gives us confidence that this test could become a very important and widely used test worldwide. There are an estimated 200 million people worldwide who have abnormal cholesterol levels. Our self-administered point-of-care test for cholesterol is easy-to-use, low cost, and revolutionary in point-of-care diagnostics. We are very pleased with the sales results we have achieved in these regions in a very short time through our distribution partner in the Middle East.”
Revenue related to this order for Tri-Cholesterol “Check” tests (a Rapid Enzymatic Assay product) was recognized in the accounts for the six months ended June 30, 2014.
ABOUT AKERS BIOSCIENCES, INC.
Akers Biosciences develops, manufactures, and supplies rapid, point of care screening and testing products designed to bring healthcare information both rapidly and directly to the consumer or healthcare provider. The Company has advanced the science of diagnostics while responding to major shifts in healthcare through the development of several proprietary platform technologies. The Company’s state-of-the-art rapid diagnostic assays can be performed virtually anywhere in minutes when time is of the essence. The Company has aligned with major healthcare companies and high volume medical products distributors to maximize product offerings, and to be a major worldwide competitor in diagnostics.
Additional information on the Company and its products can be found on our website at www.akersbiosciences.com. Follow us on Twitter @AkersBio.
Cautionary Statement Regarding Forward Looking Statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements reflect the Company’s expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the intended terms of the offering, closing of the offering and use of any proceeds from the offering. When used herein, the words “anticipate,” “believe,” “estimate,” “upcoming,” “plan,” “target”, “intend” and “expect” and similar expressions, as they relate to Akers Biosciences, Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company’s actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.
CONTACT: For more information: Raymond F. Akers, Jr. PhD Executive Chairman of the Board Akers Biosciences, Inc. Tel: +1 856 848 8698 Brendan Hopkins RedChip Companies, Inc. (US Investor Relations) Tel: +1 407 644 4256 x134 finnCap (UK Nominated Adviser and Broker) Geoff Nash / Scott Mathieson (Corporate Finance) Steve Norcross (Broking) Tel: +44 (0)20 7220 0500 Ben Simons / Alexandra Roper Vigo Communications (UK Investor Relations) Tel: +44 (0)20 7016 9570 akers@vigocomms.com
(MNTR) and Cannabis Edibles on Cover of Food & Drink
Marijuana Infused Products are Explained in First Full Length Cannabis Article by Thought Leading International Food Magazine
Mentor Capital, Inc. (OTC Markets: MNTR) announced it is pleased to be on the cover and featured in the “Budding Opportunities” Fall 2014 edition of Food & Drink which explores the “emerging world of cannabis edibles.” Over a range of topics and in plain terms, the article explains how and how much heating of marijuana by smoking or baking activates the psychoactive THC. This gave birth to the joint and the magic brownies of the 60’s. These mainstays are now being updated with vape systems and cannabis infused edible products. Similarly, the tried and true process of extracting the active marijuana oils by making cannabutter on the stove top is described. Here, the most modern approach is to now use liquefied CO2 at 1,000 atmospheres which also dissolves oils. Reducing the pressure releases the gas leaving only the very pure cannabis extract behind.
For Mentor Capital to be featured in a main stream publication that has also featured the likes of Bacardi and McDonalds is a testament to the evolving acceptance of legalized medical marijuana and casual use across America, according to the company. With the Food & Drink writers, Mentor Capital was able to introduce the general public audience to the entrepreneurial story of Dixie Elixirs, G Farma Labs, Mountain High Products, Bhang Chocolate, Incredible Edibles, Kiva Confections, Gel-Stat and other cannabis industry leaders.
Food & Drink has a written circulation of 500,000 and the Fall 2014 “Budding Opportunities” edition is now widely available. Interested readers may also receive a free copy of the article at no charge by requesting a copy from Mentor Capital. The complete text is available at both the Mentor Capital and Food & Drink websites and at the link: http://mentorcapital.com/mentor-capital-featured-food-drink-magazine-click-view-article/
About Mentor Capital: By acquisition or stock purchase, Mentor Capital, Inc. seeks to invest in leading cannabis companies. Additional important information for investors and founders seeking expansion funding is presented at: www.MentorCapital.com
This press release is neither an offer to sell, nor a solicitation of offers to purchase, securities.
Forward Looking Statements: This press release contains forward-looking statements within the meaning of the federal securities laws, including statements concerning financial projections, financing activities, corporate combinations, product development activities and sales and licensing activities. Such forward-looking statements are not guarantees of future results or performance, are sometimes identified by words of condition such as “should,” “could,” “expects,” “may,” or “intends,” and are subject to a number of risks and uncertainties, known and unknown, that could cause actual results to differ materially from those intended or anticipated. Such risks include, without limitation: nonperformance of investments, partner and portfolio difficulties, potential delays in marketing and sales activities, problems securing the necessary financing to continue operations, problems encountered in commercializing cannabis products, potential of competitive products, services, and technologies, difficulties experienced in product development, difficulties in recruiting knowledgeable personnel and potential problems in protecting intellectual property. Further information concerning these and other risks is included in the Company’s 15c2-11 filing which, along with other very important information about the Company, can be found here: http://mentorcapital.com/disclosures/
The Company undertakes no obligation to update or revise such forward-looking statements to reflect events or circumstances occurring after the date of this press release.
(PROW) Announces Approval of U.S. Patent Claims
PISCATAWAY, NEW JERSEY–(Sept. 9, 2014) – Mobile Broadcasting Corp., a company formed by Mobile Broadcasting Holding, Inc. (PINKSHEETS:PROW), formerly Progress Watch Corporation, announced today that it has received notice from the U.S. Patent and Trademark Office that claims made in one of its two pending patent applications have been granted and a U.S. Patent will issue.
The patent is entitled “Communications Platform” with respect to the Company’s technology which enables smartphones and other mobile devices to live stream video and audio content over 4G LTE networks.
Ken Bland, the Company’s chief executive officer, stated, “The issue of a patent covering the Company’s claims to its planned communications platform is a huge step toward securing our claim on the space involving the mobile to mobile live streaming space between 4G LTE mobile and wireless devices.”
The Company’s planned live-video streaming solution will enable its subscribers to broadcast live video from and receive it on mobile devices. The solution is planned to include a VOD component that will enable subscribers to view the recorded live stream at a later time.
The Company is in process of preparing a registration statement which will enable Progress Watch to distribute a dividend in the Company’s common stock to stockholders of Progress Watch on a record date to be established.
SAFE HARBOR AND INFORMATIONAL STATEMENT
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact, regarding the intent, belief and expectations of the Company and its management with respect to, among other things: (i) the Company’s financing plans; (ii) trends affecting the Company’s financial condition or results of operations; (iii) the Company’s growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words “may”, “would”, “will”, “expect”, “estimate”, “anticipate”, “believe”, “intend” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the Company’s reports filed with the SEC. The Company is not eligible to rely on the safe harbor provided by Section 21E(c) of the Exchange Act because it is not subject to filing periodic reports under Sections 13 or 15(d) of the Exchange Act.
Only information that is publicly available will be provided.
Mobile Broadcasting Corp.
Kenneth D. Bland
Chief Executive Officer
ken@briken.net
(ADCS) Shareholder Update
LAS VEGAS, NV–(Sep 9, 2014) – Advanced Content Services, Inc. (OTC: ADCS) is pleased to announce that its Joint Venture, GreenStar Payment Solutions, Inc., has reached 24 accounts since the Company’s last report in July, more than tripling accounts under the banner in a little over a month and a half.
In addition, ADCS has partnered with Chris Mills and GreenHouse Payment Solutions to launch the industry’s first reward platform in the form of a general purpose reloadable debit card which it will license to GreenStar, GreenHouse and clinics and dispensaries nationwide. The card, originally conceived as Cannabis Card, will be branded to a wider target market to ensure maximized potential in terms of swipe revenues, while at the same time providing a much needed tracking and rewards system for Cannabis business owners. Mills and ADCS have teamed with an international company that specializes in mass payment solutions for organizations, businesses, and governments worldwide.
“Chris and I are thrilled with the progress of our debit card for the Cannabis industry,” states ADCS chairman, Mark B. Newbauer. “We couldn’t be happier with our program managing ally on this program, and I feel this can still be launched, with rewards programs active at stores in 2014.”
Both GreenStar and GreenHouse are eager to introduce the card to existing and prospective customers and ADCS is confident the card will produce attractive revenues for all involved, and provide convenience, loyalty and increased sales for clinics, dispensaries and their patients and customers.
In addition, New Wave Prepaid Solutions, a wholly owned subsidiary of ADCS, is finalizing details for the launch of SchoolFuel, a dynamic fundraising mechanism for schools, churches and universities nationwide, unlike ever before. The patent-pending process is being implemented by the Company’s program managing partner, which will soon be announced in addition to other program partners and details in what the team believes will be the most revolutionary fundraising tool available to schools and universities.
Many shareholders, as well as prospective financiers, have approached management with questions regarding ADCS’ plan to improve its share structure. We are currently evaluating our options here, which may include retirement of shares, partnering with an investor for buyback of shares and/or a stock restructure. Newbauer and CEO Thomas Wolff agree, “If the latter is the case, we will ensure to pull back the authorized shares in line with the outstanding with aggressive plans to build sustainable growth moving forward. We also have several offers for responsible financing toward ensuring growth in line with a sustainable market cap.”
Announcements forthcoming to support what management feels will be the company’s strongest Quarter to date in regards to assets and revenues.
About Advanced Content Services, Inc.
Advanced Content Services is a Holding Company focused in electronic payment services and solutions. It’s wholly owned subsidiary, New Wave Prepaid Solutions, is in development of flagship prepaid products for the domestic marketplace. The company strives to be a leading contender in the issuance of prepaid solutions and services that are both highly marketable and with socially conscious profitability.
For more information see www.advancedcontentinc.com
About GreenStar Payment Solutions, Inc.
Founded in 2014, GreenStar Payment Solutions, Inc. provides payment and merchant solutions and services to Legalized Medical and Recreational Marijuana Dispensaries in the United States. GreenStar’s suite of services aims to provide dispensaries with a competitive advantage as a one-stop-shop for MJ business owners with solutions including Non-Cash Merchant Solutions, Prepaid Rewards Programs, Digital Marketing Menus and more — all of which can increase revenue and profitability. Headquartered in Denver, Colorado, GreenStar is a 33/33/33 joint venture among SinglePoint, Inc. (OTC: SING), Advanced Content Services (OTC: ADCS) and GreenHouse Payment Solutions, Inc. For more information, please email us at info@GreenHousePaymentSolutions.com
Forward-Looking Statements
Certain statements in this news release may contain 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 the Company, 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. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward- looking statements to reflect events or circumstances after the date of this release.
Investor Contact:
Thomas Wolff
CEO
info@advancedcontentinc.com
(SCOK) New Underground Coal Gasification Project $30-45 Million Expected in 2015
PINGDINGSHAN, China, Sept. 9, 2014 — SinoCoking Coal and Coke Chemical Industries, Inc. (Nasdaq:SCOK), a vertically-integrated coal and coke processor, today said it has signed an exclusive agreement with both the Institute of Process Engineering of the Chinese Academy of Sciences and the North China Institute of Science and Technology to refine and implement a technology that will be used, beginning next month, to convert the 21 million tons of coal at four SinoCoking underground mines into syngas, a clean burning fuel.
The technology will accomplish this conversion without releasing meaningful levels of carbon dioxide or other greenhouse gases above ground, said SinoCoking.
Located in Henan Province, these mines have been shut down for three years due to Chinese government-mandated mine consolidation guidelines. Now, however, these properties can be reactivated and their resources utilized in an environmentally friendly manner, said the company.
The first phase of the project, which will cost approximately $18 million and be funded primarily from SinoCoking’s cash reserves, is expected to be completed in February 2015 and yield a combined syngas output of 60,000 cubic meters per hour. This output will produce incremental gross profit in 2015 of from $30 to $45 million, said SinoCoking.
Subsequent phases of the project, expected to be completed by the end of 2016, will cost about $280 million and will be funded primarily from bank loans and company-issued debt. At completion, the project is expected to have an output capacity, subject to market demand, of 880,000 cubic meters of syngas per hour.
Customers for this syngas will be comprised primarily of local power, chemical and transportation companies as well as households requiring electricity in Henan Province, said SinoCoking.
“We are thrilled and honored to be working with the Institute of Process Engineering and North China Institute of Science and Technology on this vital project,” said SinoCoking Chairman and CEO Mr. Jianhua Lv. “The production of this vast new quantity of syngas – a clean burning fuel – while preventing the escape of carbon dioxide and other greenhouse gases, is, we believe, a major technological accomplishment.
“Combined with the opening, next month, of our above ground syngas facility in Pingdingshan, this new project further establishes our company as one of China’s leading producers of clean energy products.”
Mr. Lv said that SinoCoking would announce additional details on the construction and financing of the underground facility “in the near future.”
About SinoCoking
SinoCoking and Coke Chemical Industries, Inc. (www.scokchina.com), a Florida corporation, is a vertically-integrated coal and coke processor that uses coal from both its own mines and that of third-party mines to produce basic and value-added coal products for steel manufacturers, power generators, and various industrial users. SinoCoking has been producing metallurgical coke since 2002, and acts as a key supplier to regional steel producers in central China. SinoCoking also produces and supplies thermal coal to its customers in central China. SinoCoking currently owns its assets and conducts its operations through its subsidiaries, Top Favour Limited and PingdingshanHongyuan Energy Science and Technology Development Co., Ltd., and its affiliated companies, Henan Province PingdingshanHongli Coal & Coke Co., Ltd., Baofeng Coking Factory, BaofengHongchang Coal Co., Ltd., BaofengHongguang Environment Protection Electricity Generating Co., Ltd., Zhonghong Energy Investment Company, Henan Hongyuan Coal Seam Gas Engineering Technology Co., Ltd., BaofengShuangri Coal Mining Co., Ltd., and BaofengXingsheng Coal Mining Co., Ltd.
For further information about SinoCoking, please refer to our periodic reports filed with the Securities and Exchange Commission.
Forward Looking Statements
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company’s financial position and business strategy. The words or phrases “plans”, “would be,” “will allow,” “intends to,” “may result,” “are expected to,” “will continue,” “anticipates,” “expects,” “estimate,” “project,” “indicate,” “could,” “potentially,” “should,” “believe,” “think”, “considers” or similar expressions are intended to identify “forward-looking statements.” These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place undue reliance on such statements. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from the Company’s expectations and estimates. The Company provides no assurances that any potential acquisitions will actually be consummated, or if consummated that such acquisitions will be on terms and conditions anticipated on the date of this press release, and the Company makes no assurances with regard to any results of any such acquisitions.
Contact: | |
SinoCoking | |
Song Lv, Chief Financial Officer | Rick Eisenberg, Asia IR•PR. |
+ 86-375-2882-999 | (212) 496-6828 |
lvsong@sinocoking.net | rick@asia-irpr.com |
http://www.scokchina.com/ | http://asia-irpr.com/ |
(FRHV) Announces New Business Model Focused on Enterprise and Mobile Software Applications
NEW YORK, NY / September 9, 2014 / Fresh Harvest Products, Inc. “Fresh Harvest” (OTC: FRHV) today announced the Company’s new business model to become a leading technology solutions provider focused on the development of enterprise software, software as a service (SaaS) and mobile applications for the natural food, health and wellness markets.
Fresh Harvest previously operated as a natural and organic food products company before management decided to transition the Company’s line of business to capitalize on its relationships within the rapidly growing SaaS, enterprise software and mobile application markets.
The Company expects to develop, license and acquire software applications that will generate revenue through subscription fees, in-app upgrades, purchases and advertising. Fresh Harvest plans to launch a new corporate website with information pertinent to its new business operations in the near future.
“Fresh Harvest is pleased to announce our plans to enter the cloud-based SaaS, enterprise software
and mobile app markets. In line with its new direction, the Company plans to explore several business opportunities including strategic acquisitions and the development of software and mobile applications,” commented the Company’s President and CEO, Michael J. Friedman.
“The Company expects to bring on new executives with experience and relationships that will help us succeed as a technology solutions provider as well as become current with our financials in the near future. We look forward to updating our shareholders on the Company’s progress and milestones while we aggressively ramp up business operations in our new industry,” added Mr. Friedman.
Software as a service (SaaS) is a software delivery method that provides access to software and its functions remotely as a web-based service which allows organizations to access business functionality
at a lower cost than paying for licensed applications. SaaS also eliminates hardware costs because the software is hosted remotely.
About Fresh Harvest Products, Inc.
Fresh Harvest Products, Inc. based in New York City is a technology solution provider focused on the development of enterprise software, software as a service (SaaS) and mobile applications for the health and wellness markets.
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflects management’s current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. 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.
Contact:
888-959-7095
ir@sealpointconsulting.com
(ALIF) Buys Back Shares
HONG KONG, CHINA–(Sep 8, 2014) – Artificial Life (PINKSHEETS: ALIF), a Hong Kong based consulting and investment company announced today a major equity transaction.
Artificial Life, Inc. announced that it has bought back approximately 6.4 million shares from 3M Company, its former investor. The terms and conditions of the transaction are confidential.
After the transaction the company has issued approximately 103 million shares of which approximately 42% are owned by its current management.
About Artificial Life, Inc.
Artificial Life, Inc. is a new kind of investor and business consulting and investment company. We act as a global business network provider, accelerator and facilitator for our investment companies, assisting them in their funding efforts, sales, production, and general business development activities. We also act as an investment scout and consulting firm identifying and analyzing investment targets for clients and help partners to develop their business globally. Artificial Life, Inc. is a Delaware-registered corporation founded in 1994 in Boston. Our shares are traded on the OTC market (ticker: ALIF). Our global headquarters are in Hong Kong.
For more information on Artificial Life, Inc., please visit: www.artificial-life.com
Contact:
Artificial Life IR and PR Contact:
Tel: (+852) 3102 2800
Email Contact
(BNNY) to be Acquired by General Mills for $46 Per Share in Cash
Companies Partnering to Accelerate the Growth and Development of the Annie’s Brand
BERKELEY, Calif., Sept. 8, 2014 — Annie’s Inc. (NYSE:BNNY) (“Annie’s”), a leading natural and organic food company, announced today a definitive agreement to be acquired by General Mills, Inc. (NYSE: GIS) (“General Mills”) for $46.00 per share in cash, for a total transaction value of approximately $820 million. This acquisition will enable Annie’s to enter a new phase of growth and success while maximizing value for stockholders. The transaction consideration represents a 51% premium over Annie’s 30-day average closing price of $30.47 as of September 5, 2014. Annie’s will continue to be headquartered in Berkeley, California.
“We are excited about this strategic combination, which will enable Annie’s to expand the reach and breadth of our high quality, great tasting organic and natural products, provide new opportunities for our employees, realize greater efficiencies in our operations, and maximize value for our stockholders,” said John Foraker, Chief Executive Officer of Annie’s. “Powerful consumer shifts toward products with simple, organic and natural ingredients from companies that share consumers’ core values show no signs of letting up. Partnering with a company of General Mills’ scale and resources will strengthen our position at the forefront of this trend, enabling us to more rapidly and efficiently expand into new channels and product lines in a rapidly evolving industry environment.
“Annie’s will remain dedicated to our mission: to cultivate a healthier and happier world by spreading goodness through nourishing foods, honest words and conduct that is considerate and forever kind to the planet. Authentic roots, great tasting products, high quality organic and natural ingredients, and sustainable business practices will continue to be the cornerstones of the Annie’s brand,” concluded Foraker.
Molly Ashby, Annie’s Chairman of the Board of Directors, stated, “This transaction is a testament to the great team at Annie’s. Together, they have built a highly successful company around the authentic, mission-driven concept that Annie Withey originated 25 years ago. Annie’s is a pioneer of the new generation of company that does well by doing good, generating great value for all stakeholders. This is strategically the right time to pursue this combination because it brings operational, sourcing and distribution capabilities that enable Annie’s to build on its leadership position in the natural and organic market.”
The Annie’s Board of Directors has unanimously recommended that Annie’s stockholders accept the General Mills offer. General Mills will launch a tender offer within ten business days to purchase all outstanding shares of Annie’s. General Mills’ offer will be subject to the tender of a majority of Annie’s shares and to certain other customary closing conditions including regulatory approval. The transaction is expected to close later in calendar 2014.
Annie’s financial advisor for the transaction is J.P. Morgan Securities LLC and its legal advisor is Proskauer Rose LLP.
About Annie’s
Annie’s, Inc. (NYSE: BNNY) is a natural and organic food company that offers great-tasting products in large packaged food categories. Annie’s products are made without artificial flavors, synthetic colors, and preservatives regularly used in many conventional packaged foods. Additionally, Annie’s sources ingredients so as to avoid synthetic growth hormones and genetically modified food ingredients. Today, Annie’s offers over 145 products and is present in over 35,000 retail locations in the United States and Canada. Founded in 1989, Annie’s is committed to operating in a socially responsible and environmentally sustainable manner. For more information, visit www.annies.com.
Forward-Looking Statements
Certain statements in this press release, including those relating to the future of our snacks business and achievement of our significant long-term growth potential, are “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by words like “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “will,” “seek” and similar terms or phrases.
The forward-looking statements contained in this press release are based on management’s current expectations, and are subject to uncertainty, changes in circumstances and significant risks. We cannot assure you that future developments affecting us will be those that we have anticipated.
Actual results may differ materially from the forward-looking statements contained in this press release due to changes in global, national, regional or local economic, business, competitive, market, regulatory and other factors, many of which are beyond our control. We believe that these factors include those disclosed in the section entitled “Risk Factors” in our Annual Report on Form 10-K for fiscal 2014 filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 2, 2014 and our Form 10-Q for the quarter ended June 30, 2014 filed with the SEC on August 7, 2014, including risks relating to the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; the inability to complete the proposed tender offer or merger due to the failure to satisfy the conditions to completion of the tender offer and the merger; unexpected costs or unexpected liabilities that may arise from the transaction, whether or not consummated; continuation or deterioration of current market conditions; future regulatory or legislative actions that could adversely affect the companies; the outcome of any legal proceedings relating to the tender offer, the merger or the merger agreement; and risks to consummation of the merger, including the risk that the merger will not be consummated within the expected time period or at all. Additional factors that may affect future results are contained in Annie’s filings with the SEC, which are available at the SEC’s website at www.sec.gov. Annie’s disclaims any obligation to update and revise statements contained in these materials based on new information or otherwise. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, our actual results may vary in material respects from those projected in these forward-looking statements.
Notice to Investors
The tender offer described herein has not yet been commenced. The description contained herein is neither an offer to purchase nor a solicitation of an offer to sell securities of Annie’s. At the time the tender offer is commenced, General Mills and its wholly owned subsidiary intend to file a Tender Offer Statement on Schedule TO containing an offer to purchase, forms of letters of transmittal and other documents relating to the tender offer, and Annie’s intends to file a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer. General Mills, its wholly owned subsidiary and Annie’s intend to mail these documents to the stockholders of Annie’s. These documents will contain important information about the tender offer and stockholders of Annie’s are urged to read them carefully when they become available. Stockholders of Annie’s will be able to obtain a free copy of these documents (when they become available) and other documents filed by Annie’s or General Mills with the SEC at the website maintained by the SEC at www.sec.gov. In addition, the Schedule TO and related exhibits, including the offer to purchase, forms of letters of transmittal, and other related tender offer documents may be obtained (when available) for free by contacting General Mills at Number One General Mills Boulevard, Minneapolis, Minnesota 55426 and the Schedule 14D-9 may be obtained (when available) for free by contacting Annie’s at 1610 Fifth Street, Berkeley, California 94710.
CONTACT:
Ed Aaron
510-558-7574
303-868-5551
ir@annies.com
(IPAS) to Explore Strategic Alternatives
REDWOOD SHORES, CA–(Sep 8, 2014) – iPass Inc. (NASDAQ: IPAS), the leading provider of Wi-Fi connectivity services to enterprises, telecommunications carriers, service providers and device manufacturers, today announced that the iPass Board of Directors has initiated a process to explore strategic alternatives that may enhance stockholder value.
“Our Open Mobile business generated last twelve month revenues of $53.5 million (as of June 30, 2014), with second quarter 2014 revenues of $14.4 million,” said Evan Kaplan, President and Chief Executive Officer of iPass. “We’ve experienced 13 consecutive quarters of revenue growth in our Open Mobile business while growing Wi-Fi network users at 43% this past year alone. Our Wi-Fi network now has over 13 million hotspots. We are in a good position to play a significant strategic role in the evolution of our industry. In addition, over the course of the past year, we narrowed our focus and delivered strong results for our shareholders with the recent sale of our Unity Managed Network Services business. Given the progress of our Open Mobile business and the interest received during the Unity sale process, we believe that now is the right time to explore strategic alternatives to help maximize shareholder value.”
As part of this process, iPass’ Board has retained Blackstone Advisory Partners L.P. and Cooley LLP. There can be no assurance that this process will result in any transaction. iPass does not currently intend to disclose further developments with respect to this process, unless and until its Board of Directors approves a specific transaction or otherwise concludes the review of strategic alternatives.
iPass also announced that its business outlook, as discussed in the second quarter financial results press release and conference call on August 11, 2014, remains unaltered as a result of the initiation of the process to explore strategic alternatives.
About iPass Inc.
iPass enables business travelers to stay connected by providing them with cost-effective and convenient global Wi-Fi access across smartphones, tablets and laptops. Founded in 1996, iPass (NASDAQ: IPAS) is the world’s largest Wi-Fi network, covering over 120 countries and territories and selling to over 700 large corporations, telecom service providers and other strategic partners around the world. Through its cloud-based delivery model, iPass connects business travelers to over 13 million Wi-Fi hotspots in airports, airplanes, hotels and public areas. With the growing need for fast, high bandwidth connectivity, iPass lets business travelers stay close to what matters most while on the road including access to video, unified communications, web conferencing and other cloud based apps.
Cautionary Information About Forward-Looking Statements
The statements in this press release regarding iPass’ exploration of strategic alternatives, its belief that a strategic alternative may enhance stockholder value, and that its business outlook, as discussed in the second quarter financial results press release and conference call on August 11, 2014, remains unaltered as a result of the initiation of the process to explore strategic alternatives, are forward-looking statements. Actual results may differ materially from the expectations contained in these statements due to a number of risk and uncertainties, including the following: the risks and uncertainties of any strategic alternatives, including whether any strategic alternative will be identified or, if identified, whether it will be pursued or consummated; the risk that a strategic alternative will not enhance value as expected by iPass; the risk that the “End of Life” of iPass’ legacy Mobile Office product may negatively impact customer retention and mobility revenues more than iPass expects; the risk that the Open Mobile platform and Open Mobile Exchange will not continue to achieve the market acceptance iPass expects; the risk of material reductions in iPass customers’ existing minimum commitments more than iPass currently expects; the risk that iPass does not accurately predict usage for its Enterprise Flat Rate price plan which could result in iPass expenses exceeding revenues for these plans; the risk that iPass customers do not widely deploy iPass Open Mobile on smartphones, tablets and other mobile handheld devices at the rate iPass expects; the risk that demand for Mobility Services does not grow as iPass expects; the risk that strong competition in the market for Mobility Services could reduce demand for iPass’ services; and the risk that a meaningful portion of iPass business is international, which subjects iPass to additional risks such as currency fluctuations. Detailed information about these and other risk factors that could potentially affect iPass’ business, financial condition and results of operations are included in iPass’ Quarterly Report on Form 10-Q filed with the SEC on August 11, 2014, and available at the SEC’s website at www.sec.gov and the Company’s website at http://investor.ipass.com. iPass undertakes no responsibility to update the information in this press release if any forward-looking statement later turns out to be an inaccurate prediction of the actual results.
NOTE: iPass® is a registered trademark of iPass Inc. Open Mobile, OME, Open Mobile Express, Open Mobile Exchange and OMX are trademarks of iPass Inc. Wi-Fi® is a registered trademark of the Wi-Fi Alliance. Other company names, logos and product or service names mentioned herein are the trademarks owned by their respective owners.
(DGTW) to Open up Its Vast Domain Portfolio for the First Time for Leases
Moving the Portfolio From a Holding Position to a Leasing Position Creates a Recurring $4 Million Revenue Model for Growth at Maturity
MINNEAPOLIS, MN–(Sep 8, 2014) – DigitalTown, Inc. (OTCQB: DGTW) today DigitalTown announced that for the first time, it is putting on the market access to its vast 22,000 domain portfolio for secure escrow leasing with yearly or multi-year leasing programs.
DN Journal states that domain leasing interest is higher now than it has ever been, due to the high cost of premium domain names.
With more than 700,000 sport teams, school athletic departments, alumni and community clubs all vying for DigitalTown’s 22,000 sport theme names, it will work with the NIAAA (The National Interscholastic Athletic Administrators Association) on a fair distribution offering. With a target date of October 2014, NIAAA members will be able to start reserving names and then move to an open leasing program.
DigitalTown will offer lifetime leasing opportunities on our domains that include 3rd party escrow accounts that protect both parties’ interests. The process will be fully automated with online individual domain name DNS management, online payments, full-service ICAAN-accredited registrar and support. Unlimited sub domains can be added to create vast multi teams at no extra charge. Current teams will be able to use their existing software vendors that offer custom domain support.
Pricing will be very aggressive at the start with an estimated $15-per-month, per domain name which includes all services including escrow. Compare this to Escrow.com pricing of $40 a month or GoForThe.com at $69 a month for escrow service, neither of which include the pricing of the domain lease.
Along with yearly leasing, DigitalTown will be offering organizations a first-time purchase option on the domain name. Prices will start at $50,000 for sport team names. This puts a possible market valuation on its domain portfolio of $1.1B. Premium domain names will be priced in the six figure range. DigitalTown has rarely sold any of its domain names in the past and its highest reported single domain name sale is $175,000.00. DigitalTown’s focus will be on leasing to keep the portfolio under management for future technology advances. However, we also understand the need for some groups to own their domain names.
DigitalTown will act as the exclusive authorized Google reseller to offer Google Apps for business, non-profit and education versions to its domain portfolio.
In addition a portion of the proceeds will go to the newly formed non-profit DigitalTown Foundation by DigitalTown, Inc and the NIAAA for supporting safe communications at interscholastic level.
For more information email info@digitaltown.com
About DigitalTown:
DigitalTown, Inc., a Minnesota-based domain management, a Google Apps Authorized Reseller and cloud services broker. For more information, please visit www.digitaltown.com.
Safe Harbor Language:
Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act 1995. Readers are cautioned not to place undue reliance on forward-looking statements. DigitalTown, Inc. undertakes no obligation to update any such statements to reflect actual events.
Company Contact:
DigitalTown
info@digitaltown.com
(952)890-2362 (office)
(RADA) Announces Second Quarter and First Half 2014 Results
NETANYA, Israel, Sept. 8, 2014 — RADA Electronic Industries Ltd. (Nasdaq:RADA) today announced its financial results for the second quarter and the six months ended June 30, 2014.
2014 Second quarter Results
Revenues totaled $6.4 million, 23% increase compared to $5.2 million in the second quarter of 2013.
Gross Profit totaled $2.04 million, 164% increase compared to $0.8 million in the second quarter of 2013.
Operating expenses totaled $1.4 million, 11% increase compared to $1.3 million in the second quarter of 2013.
Financial Expenses totaled $262,000, 43% decrease compared to financial expenses of $459,000 in the second quarter of 2013.
As a result, the Company reported Net Income of $385,000, or $0.04 per share, for the second quarter of 2014 compared to a net loss of $935,000 or $0.10 per share, for the second quarter of 2013.
First Half 2014 Results
Revenues totaled $11.8 million, 11% increase compared to $10.6 million for the same period in 2013.
Gross profit totaled $3.7 million, 124% increase compared to $1.6 million for the same period in 2013.
Operating expenses totaled $2.6 million, 9% decrease compared to $2.8 million for the same period in 2013.
Financial expenses totaled $555,000, 41% decrease compared to financial expenses of $934,000 for the same period in 2013.
As a result, the Company reported Net Income of $542,000 or $0.06 per share for the six months ended June 30, 2014, compared with a net loss of $2,100,000 or $0.23 per share, for the comparable period in 2013.
Management Comment
Commenting on the results, Zvika Alon, RADA’s Chief Executive Officer said, “The increase in gross margin to approximately 32% of our total revenues, is attributable in large measure to the high margin programs that accounted for a significant portion of our revenues during this quarter. As well as the reduction in financial expenses, these two major factors generated the growth in our net profit. We have increased our marketing expenses to pursue new business, in particular in our Radars product line, which has gained operational experience in various applications during the recent Operation Protective Edge and is expected to account for a growing part of our future revenues. We expect to continue the year with similar gross margins and therefore maintain our expectation for favorable 2014 results.”
About RADA
RADA Electronic Industries Ltd. is an Israel-based defense electronics contractor. The Company specializes in the development, production, and sales of Tactical Land Radar for Force and Border Protection, Inertial Navigation Systems for air and land applications and Avionics Systems and Upgrades.
Note: Certain statements in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Such risk uncertainties and other factors include, but are not limited to, changes in general economic conditions, risks in product and technology developments, market acceptance of new products and continuing product demand, level of competition and other factors described in the Company’s Annual Report on Form 20-F and other filings with the Securities and Exchange Commission.
CONSOLIDATED BALANCE SHEET | ||||
U.S. dollars in thousands, except per share data | ||||
ASSETS | June 30, 2014 | December 31, 2013 | ||
Unaudited | Audited | |||
Cash and cash equivalents | $ 1,734 | $ 2,137 | ||
Restricted cash | 453 | 1,033 | ||
Trade receivables (net of allowance for doubtful accounts of $ 19 and $ 36 at June 30, 2014 and at December 31, 2013 respectively) | 4,808 | 4,890 | ||
Costs and estimated earnings in excess of billings on uncompleted contracts | 1,918 | 2,031 | ||
Other accounts receivables and prepaid expenses | 621 | 412 | ||
Inventories | 7,668 | 6,798 | ||
Total current assets | 17,202 | 17,301 | ||
LONG-TERM RECEIVABLES AND OTHER DEPOSITS | 1,289 | 1,133 | ||
PROPERTY, PLANT AND EQUIPMENT, NET | 2,774 | 2,986 | ||
OTHER ASSET – GOODWILL | 587 | 587 | ||
Total assets | $ 21,852 | $ 22,007 | ||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||
CURRENT LIABILITIES: | ||||
Bank credit and current maturities of long-term loans | $ 1,744 | $ 1,887 | ||
Trade payables | 2,192 | 2,909 | ||
Convertible note and Loans from shareholders, net | 8,120 | 8,307 | ||
Other accounts payable and accrued expenses | 4,688 | 4,350 | ||
Total current liabilities | 16,744 | 17,453 | ||
LONG-TERM LIABILITIES: | ||||
Accrued severance pay and other long term liability | 614 | 569 | ||
Total long-term liabilities | 614 | 569 | ||
RADA SHAREHOLDERS’ EQUITY | ||||
Share capital — | ||||
Ordinary shares of NIS 0.015 par value – Authorized: 16,333,333 shares at June 30, 2014 and December 31, 2013; Issued and outstanding: 8,918,647 at June 30, 2014 and at December 31, 2013 respectively. | 119 | 119 | ||
Additional paid-in capital | 70,884 | 70,884 | ||
Accumulated other comprehensive income | 527 | 547 | ||
Accumulated deficit | (67,658) | (68,200) | ||
Total RADA shareholders’ equity | 3,872 | 3,350 | ||
Non-controlling interest | 622 | 635 | ||
Total equity | 4,494 | 3,985 | ||
Total liabilities and equity | $ 21,852 | $ 22,007 |
CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||
U.S. dollars in thousands, except per share data | ||||||||||
Six months ended June 30, |
Three months ended June 30, |
Year ended December 31, |
||||||||
2014 | 2013 | 2014 | 2013 | 2013 | ||||||
(Unaudited) | Audited | |||||||||
Revenues | $11,784 | $10,592 | $6,437 | $5,235 | $ 21,761 | |||||
Cost of revenues | 8,132 | 8,964 | 4,398 | 4,463 | 17,160 | |||||
Gross profit | 3,652 | 1,628 | 2,039 | 772 | 4,601 | |||||
Operating expenses: | ||||||||||
Research and development | 380 | 816 | 150 | 337 | 1,459 | |||||
Marketing and selling | 1,206 | 985 | 737 | 438 | 1,959 | |||||
General and administrative | 977 | 1,006 | 510 | 485 | 1,919 | |||||
Total operating expenses: | 2,563 | 2,807 | 1,397 | 1,260 | 5,337 | |||||
Operating profit (loss) | 1,089 | (1,179) | 642 | (488) | (736) | |||||
Financial expenses, net | 555 | 934 | 262 | 459 | 1,907 | |||||
Consolidated profit (loss) | 534 | (2,113) | 380 | (947) | (2,643) | |||||
Less: Net Loss attributable to Non-controlling interest | 8 | 13 | 5 | 12 | 8 | |||||
Net income (loss) attributable to RADA’s shareholders | $542 | $(2,100) | $385 | $(935) | $ (2,635) | |||||
Income (loss) per share: | ||||||||||
Basic and diluted loss per share | $0.06 | $(0.23) | $0.04 | $(0.10) | $ (0.30) | |||||
Weighted average number of Ordinary shares used for computing basic and diluted loss per share | 8,918,647 | 8,918,647 | 8,918,647 | 8,918,647 | 8,918,647 |
CONTACT: Shiri Lazarovich- C.F.O RADA Electronic Industries Ltd. Tel: +972-9-8921111 Shiri.Lazarovich@rada.com
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