CAPE Systems Announces Fiscal 2007, 2008, and 2009 Third Quarter Unaudited Results
Tuesday 09/22/2009 3:25 PM ET - Pr Newswire
Related Companies
Symbol Last %Chg
CYSG 0.0059 490.00%
As of 3:59 PM ET 9/23/09
CAPE Systems Group, Inc., (Pink Sheets: CYSG) a leading provider of software technology for packaging design, pallet optimization, RFID Asset Tracking, inventory and warehouse management, supply chain execution and order fulfillment, today announced preliminary unaudited financial results for the fiscal years ending September 30, 2007 and 2008, and the three months and nine months ended June 30, 2009.
Cape Systems Group, Inc. reported revenues of $0.5 million and $1.6 million for the three and nine month periods ended June 30, 2009, respectively. The Company also reported a $15.3 million non-cash profit (unaudited) for its third quarter ending June 30, 2009 based on anticipated settlements within the next 60 days of $8 million in liabilities related to the closing of its European operations back in 2003 and $8.4 million in liabilities related to the closing of three domestic operations in 2004. Existing operations during the same quarter had a $1.1 million loss after a $0.7 million beneficial conversion charge for the conversion of accrued interest into notes to its bondholders. The same period for the prior year had a $0.8 million loss after a $0.5 million beneficial conversion charge also for the conversion of accrued interest into notes to its bondholders. Excluding the beneficial conversion charges each year, the net operating loss for the third quarter was $0.4 million vs. $0.3 million in 2008 caused by a $0.3 million decrease in gross profit that was offset by $0.2 million in reduced S, G & A expenses based on a cost savings strategy initiated in FY2009.
Based on the third quarter's $16.4 million gain in settlement the profit for the nine months ending June 30, 2009 was $14.5 million after absorbing an operating loss of $1.9 million that included $1.2 million in beneficial conversion charges. This compares to a $1.4 million loss for the nine months ending June 30, 2008 that included $0.5 million in beneficial conversion charges. Excluding the beneficial conversion charges each year 2009's net operating loss for the nine months ending June 30 was $0.7 million vs. a $0.9 million loss in 2008. This $0.2 million improvement is the result of $0.6 million in reduced S, G & A expenses offset by a $.4 million decrease in gross profit.
For the fiscal year ended September 30, 2008, the Company reported preliminary unaudited revenues of $3.5 million. The unaudited net loss for the last fiscal year ending September 30, 2008 was $1.7 million that included $0.7 million in beneficial conversion charges vs. the prior year's unaudited net loss that ended September 30, 2007 of $3.0 million (including $1.3 million in beneficial conversion charges). Excluding the beneficial conversion charges each year 2008's net operating loss for the twelve months ending September 30, 2008 was $1.0 million vs. a $1.7 million loss in 2007. This $0.7 million improvement is the result of $1.0 million in reduced S, G & A expenses (mainly intangible amortization that finished in 2007) plus a $0.3 million increase in gross profit, which was offset by a $0.6 million decrease in gains on settlement that were realized in 2007.
About CAPE Systems
CAPE Systems is an international provider of supply chain management technologies. CAPE Systems offers a comprehensive range of software systems and tools, from packaging and pallet optimization software, RFID asset tracking, to integrated warehouse and inventory management solutions, pick-to-light systems, and transportation management systems for enterprise wide and collaborative supply chain optimization. For more information about CAPE visit: www.capesystems.com.
Safe Harbor
Statements about the company's future expectations, including future revenue and earnings and all other statements in this press release, other than historical facts, are "forward-looking" statements and are made pursuant to safe harbor provisions of the Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time. The company's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward-looking statements.
Cape Systems Group, Inc.
CONDENSED COMBINED BALANCE SHEET
Nine Months
F/Y Ending F/Y Ending Ending June
Sept 30 2007 Sept 30 2008 30 2009
ASSETS
Cash $174,112 $217,741 $173,505
Accounts receivable, net 376,381 375,872 290,305
Allowance for Bad Debt (2,147) (2,704) (1,793)
Inventories, net 174,410 937 21,792
Prepaid expenses 49,218 35,596 38,646
Total Current Assets 771,974 627,441 522,455
Equip Gross 778,535 737,072 695,919
Accum Depr/Amort (756,423) (728,230) (683,775)
Equipment and fixtures, net 22,112 8,842 12,144
Deferred Financing Costs, net 86,146 27,621 8,934
Goodwill - Cape 341,685 285,173 285,173
Other Intangibles - Cape 1,545,785 1,666,025 1,666,025
Amortization (1,497,478) (1,666,025) (1,666,025)
Other Assets 132,075 133,951 262,745
Total Assets $1,402,299 $1,083,028 $1,091,451
LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIT)
CURRENT LIABILITIES
Mandatorily redeemable
preferred stock $504,713 $504,713 $504,713
Notes payable 1,227,500 1,227,500 1,227,500
Accounts payable 3,097,363 2,957,780 184,113
Net liabilities -
subsidiaries in Liquidation 8,407,512 8,207,583 250,000
Payroll and related benefits
accrual 1,146,032 1,154,612 742,462
Accrued litigation 2,655,322 2,655,322 25,000
Other accrued expenses and
liabilities 3,802,122 4,196,918 1,819,604
Customer Deposits 357,460 112,100 19,821
Deferred revenue 612,759 533,688 557,909
Total current liabilities 21,810,783 21,550,216 5,331,122
Convertible notes payable 6,360,053 7,036,336 7,915,623
Total liabilities 28,170,836 28,586,552 13,246,745
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock 4,973,741 4,991,831 4,991,831
Preferred stock 13,657 13,657 13,657
Subscriptions receivable (66,000) (66,000) (66,000)
Additional paid-in capital 169,211,898 169,887,060 170,778,800
Accumulated equity
(deficit) (195,002,427) (197,954,211) (199,634,644)
Accum. other comprehensive
inc/( loss) (2,816,653) (2,628,187) (2,683,347)
Treasury stock (67,240) (67,240) (67,240)
YTD net income/(loss) (3,015,513) (1,680,433) 14,511,650
Total Stockholders' deficit (26,768,537) (27,503,524) (12,155,293)
Total liabilities and
stockholders' equity $1,402,299 $1,083,029 $1,091,452
Cape Systems, Inc.
CONDENSED COMBINED STATEMENT OF OPERATIONS
For the For the
For the Twelve Three Nine Months
Months Ending Months Ending Ending
Sept 30 Sept 30 June 30 June 30
2007 2008 2009 2009
REVENUE $3,224,333 $3,504,895 $548,604 $1,697,146
COST OF SALES 1,416,908 1,356,433 223,228 755,487
GROSS PROFIT 1,807,424 2,148,461 325,376 941,659
GM 56% 61% 59% 55%
OPERATING EXPENSES
Selling and administrative 3,411,878 2,898,228 558,754 1,782,197
Depreciation and
amortization 692,960 229,784 1,528 3,848
Total operating expenses 4,104,838 3,128,012 560,282 1,786,045
Operating income/(loss) (2,297,413) (979,551) (234,906) (844,386)
OTHER INCOME (EXPENSE)
Interest income 2,613 3,263 0 0
Interest expense (726,424) (936,481) (210,275) (490,166)
Beneficial Conversion Costs(1,330,967) (676,283) (696,125) (1,196,834)
Gain on settlement of
Liabilities 830,368 190,242 16,454,134 16,454,134
Other (4,388) 0 3,846 3,846
Net other income(expense)(1,228,798) (1,419,259) 15,551,580 14,770,980
INCOME/(LOSS) BEFORE
PROVISION FOR INCOME
TAXES (3,526,211) (2,398,810) 15,316,674 13,926,594
Provision for income taxes 0 2,500 1,842 1,842
Credit for sale of state tax
Benefits (510,698) (720,877) 0 (586,898)
Net income tax credit (510,698) (718,377) 1,842 (585,056)
NET INCOME (LOSS) ($3,015,513)($1,680,433)$15,314,832 $14,511,650
SOURCE CAPE Systems Group, Inc.
http://www.capesystems.com
Wednesday, September 23, 2009
Dear Fellow Cyberlux Shareholder - CYBL
4625 Creekstone Dr, Suite 130 | Research Triangle Park | Durham, NC 27703
www.cyberlux.com
FOR IMMEDIATE RELEASE
September 23, 2009
Dear Fellow Cyberlux Shareholder:
I’m writing you a little more than 15 months after I was named Chief Executive Officer
of Cyberlux Corporation. Let me first say thank you for your continued support and
patience as we continue to build Cyberlux into the company we all believe it can be.
Without question, this has been the most challenging, most difficult year I’ve experienced
in my 20 year business career. The financial market collapse of the past year has caused
all investors, no matter what the quality of the security or the investment risk involved, to
re-evaluate their investment strategies and their allocation of capital. Cyberlux
Corporation is thankful to continue to be an investment selection for you.
From the macro-economic factors such as the performance of the capital markets to the
micro-economic reality of the restricted availability of small business credit, Cyberlux,
like many small companies, has had to focus in the last year on its core business
opportunities and the long-term growth and prosperity of the Company, sometimes at the
expense of the Company’s short-term objectives.
In this business environment, Cyberlux Management has focused the company on our
patented LED technology, our proprietary knowledge and our product development and
manufacturing capability. In the existing Department of Defense (DoD) and Homeland
Security/First Responder channels, Management has significantly changed our model
from competing as the prime contractor for DoD contracts. In January, we transformed
our Go-to-Market strategy from competing as a prime contractor to being the supplier
who supports existing prime contractors and existing contracts. In addition, Management
has also significantly changed our retail product strategy to become the product innovator
and supplier to large existing retail marketing companies that have the scale and
capability to bring a product to market world-wide.
These Go-to-Market strategy changes are significant and have far-reaching implications
for how Cyberlux Corporation creates value in the marketplace, how the business scales
and grows, how brand equity is created and how the value in the underlying equity of the
company grows. In the past, Cyberlux Corporation was competing on a very large, very
sophisticated playing field against companies that were either better positioned or better
capitalized to secure contracts and large purchase commitments.
In fact, Cyberlux found itself in this very position with the United States Air Force
(USAF) contract. Despite having developed the best products directly with the USAF
customer, the contract was awarded to another company who underbid us and, to our
knowledge, did not have a real product in market at the time of the award. This was a
4625 Creekstone Dr, Suite 130 | Research Triangle Park | Durham, NC 27703
www.cyberlux.com
significant setback which Management appealed to the USAF, then to the Government
Accountability Office (GAO) and the situation is still unresolved and Cyberlux may
ultimately seek legal damages as events present an opportunity to do so. Nonetheless, the
USAF contract battle was a clear indication that a Go-to-Market strategy shift was not
only necessary but fundamentally required, where Cyberlux would serve those companies
with existing contracts as an OEM supplier and sub-contractor rather than compete in an
arena where we cannot win.
Cyberlux Corporation has continued to make hard-fought progress in the marketplace,
which has required some drastic measures appropriate for the times and the
circumstances, but, nonetheless progress has been made towards the Company’s
sustainability and future growth. On the cost control side, Management has reduced all
non-essential personnel, cut all available operating costs and asked the senior
management team, beginning in 3Q 2008, to defer compensation until the Company is in
a good operating condition. This has resulted in a reduction of true operating expense of
over 75% this year. Management is continuing the very difficult task for aligning expense
to revenue, and the Company should be well positioned to take advantage of our new cost
structure as we make revenue gains going forward.
Remarkably, the Company has introduced five new, very exciting product families in
order to expand our military and commercial product offerings, despite the cost reduction
initiatives. In the first six months of 2009, Cyberlux launched the Portable Shelter
Lighting products for tents and portable structures, the Outdoor Overhead and Outdoor
Area Lighting products for municipal and military street lighting opportunities, the
ArcLight LED products to address the traditional fluorescent lighting replacement
opportunities, the BrightEye Solar-powered Trailer-mounted Lighting System for the
DoD ‘green’ initiatives, and the WhiteEye product as a white light version of the
BrightEye for lower cost tactical lighting needs.
With the Company’s change in strategy, these new products and the existing products,
are being offered to prime contractors and companies with existing contracts that contain
lighting requirements. The OEM LED lighting market is approximately $2 billion per
year, and our products represent a market opportunity of approximately $400M. If we
capture a realistic market share of 1% to 3%, we would experience a rational level of
growth. Management is beginning to see results that will be forthcoming over the next
two quarters of performance.
Management believes these changes in Cyberlux strategy will accelerate the growth of
the Company, driving Cyberlux into a sustainable, fully operating company with
important customers who have ongoing needs for our products. This process is
challenging, requiring significant effort and creative problem solving from every
Cyberlux employee. As Cyberlux begins to grow again, the Company is committed to
excellence with a vigilant focus on quality and execution, where every commitment we
make is also a commitment we make to excellence. There is no shortcut; there is only
consistent, day-in and day-out action, where excellence is achieved through the constant
4625 Creekstone Dr, Suite 130 | Research Triangle Park | Durham, NC 27703
www.cyberlux.com
‘whatever it takes’ effort the Cyberlux employees make across our engineering, sales,
marketing, manufacturing, accounting, legal and management functions.
Given the trials and challenges Cyberlux has faced during the past year, I am reminded of
one of my favorite passages from a speech entitled ‘The Man in the Arena’ by Theodore
Roosevelt, a passage I’ve shared with Cyberlux employees first over a year ago.
President Roosevelt’s words are an inspiring reminder of the individual responsibilities
each Cyberlux employee has in the collective effort to build a successful company. I
share this passage with you, our faithful shareholders, because I believe it represents the
character of Cyberlux Corporation and how we are tenaciously resolved to drive the
Company to success. President Roosevelt said:
“It is not the critic who counts, not the man who points out how the strong man
stumbled, or where the doer of deeds could have done better. The credit belongs
to the man who is actually in the arena, whose face is marred by dust and sweat
and blood, who strives valiantly, who errs and comes short again and again, who
knows the great enthusiasms, the great devotions, and spends himself in a worthy
cause, who at best knows achievement and who at the worst if he fails at least fails
while daring greatly so that his place shall never be with those cold and timid souls
who know neither victory nor defeat”.
Cyberlux Management and employees have the great responsibility for building the
business into a sustainable and profitable enterprise, both an arduous and noble task.
Each individual bears the responsibility for creating the future of Cyberlux, for striving
for excellence, for doing the right thing, not just the easy thing. Within the ‘Cyberlux
Arena’, Management is seeing the results of our actions and our change in strategy. We
are committed to the building of a great company, have a deep belief in our capabilities to
serve a wide range of customers and our ability to meet production and engineering
challenges.
Your Management sincerely thanks you for your past and continuing support.
Best regards,
Mark D. Schmidt
President/CEO
Cyberlux Corporation
www.cyberlux.com
FOR IMMEDIATE RELEASE
September 23, 2009
Dear Fellow Cyberlux Shareholder:
I’m writing you a little more than 15 months after I was named Chief Executive Officer
of Cyberlux Corporation. Let me first say thank you for your continued support and
patience as we continue to build Cyberlux into the company we all believe it can be.
Without question, this has been the most challenging, most difficult year I’ve experienced
in my 20 year business career. The financial market collapse of the past year has caused
all investors, no matter what the quality of the security or the investment risk involved, to
re-evaluate their investment strategies and their allocation of capital. Cyberlux
Corporation is thankful to continue to be an investment selection for you.
From the macro-economic factors such as the performance of the capital markets to the
micro-economic reality of the restricted availability of small business credit, Cyberlux,
like many small companies, has had to focus in the last year on its core business
opportunities and the long-term growth and prosperity of the Company, sometimes at the
expense of the Company’s short-term objectives.
In this business environment, Cyberlux Management has focused the company on our
patented LED technology, our proprietary knowledge and our product development and
manufacturing capability. In the existing Department of Defense (DoD) and Homeland
Security/First Responder channels, Management has significantly changed our model
from competing as the prime contractor for DoD contracts. In January, we transformed
our Go-to-Market strategy from competing as a prime contractor to being the supplier
who supports existing prime contractors and existing contracts. In addition, Management
has also significantly changed our retail product strategy to become the product innovator
and supplier to large existing retail marketing companies that have the scale and
capability to bring a product to market world-wide.
These Go-to-Market strategy changes are significant and have far-reaching implications
for how Cyberlux Corporation creates value in the marketplace, how the business scales
and grows, how brand equity is created and how the value in the underlying equity of the
company grows. In the past, Cyberlux Corporation was competing on a very large, very
sophisticated playing field against companies that were either better positioned or better
capitalized to secure contracts and large purchase commitments.
In fact, Cyberlux found itself in this very position with the United States Air Force
(USAF) contract. Despite having developed the best products directly with the USAF
customer, the contract was awarded to another company who underbid us and, to our
knowledge, did not have a real product in market at the time of the award. This was a
4625 Creekstone Dr, Suite 130 | Research Triangle Park | Durham, NC 27703
www.cyberlux.com
significant setback which Management appealed to the USAF, then to the Government
Accountability Office (GAO) and the situation is still unresolved and Cyberlux may
ultimately seek legal damages as events present an opportunity to do so. Nonetheless, the
USAF contract battle was a clear indication that a Go-to-Market strategy shift was not
only necessary but fundamentally required, where Cyberlux would serve those companies
with existing contracts as an OEM supplier and sub-contractor rather than compete in an
arena where we cannot win.
Cyberlux Corporation has continued to make hard-fought progress in the marketplace,
which has required some drastic measures appropriate for the times and the
circumstances, but, nonetheless progress has been made towards the Company’s
sustainability and future growth. On the cost control side, Management has reduced all
non-essential personnel, cut all available operating costs and asked the senior
management team, beginning in 3Q 2008, to defer compensation until the Company is in
a good operating condition. This has resulted in a reduction of true operating expense of
over 75% this year. Management is continuing the very difficult task for aligning expense
to revenue, and the Company should be well positioned to take advantage of our new cost
structure as we make revenue gains going forward.
Remarkably, the Company has introduced five new, very exciting product families in
order to expand our military and commercial product offerings, despite the cost reduction
initiatives. In the first six months of 2009, Cyberlux launched the Portable Shelter
Lighting products for tents and portable structures, the Outdoor Overhead and Outdoor
Area Lighting products for municipal and military street lighting opportunities, the
ArcLight LED products to address the traditional fluorescent lighting replacement
opportunities, the BrightEye Solar-powered Trailer-mounted Lighting System for the
DoD ‘green’ initiatives, and the WhiteEye product as a white light version of the
BrightEye for lower cost tactical lighting needs.
With the Company’s change in strategy, these new products and the existing products,
are being offered to prime contractors and companies with existing contracts that contain
lighting requirements. The OEM LED lighting market is approximately $2 billion per
year, and our products represent a market opportunity of approximately $400M. If we
capture a realistic market share of 1% to 3%, we would experience a rational level of
growth. Management is beginning to see results that will be forthcoming over the next
two quarters of performance.
Management believes these changes in Cyberlux strategy will accelerate the growth of
the Company, driving Cyberlux into a sustainable, fully operating company with
important customers who have ongoing needs for our products. This process is
challenging, requiring significant effort and creative problem solving from every
Cyberlux employee. As Cyberlux begins to grow again, the Company is committed to
excellence with a vigilant focus on quality and execution, where every commitment we
make is also a commitment we make to excellence. There is no shortcut; there is only
consistent, day-in and day-out action, where excellence is achieved through the constant
4625 Creekstone Dr, Suite 130 | Research Triangle Park | Durham, NC 27703
www.cyberlux.com
‘whatever it takes’ effort the Cyberlux employees make across our engineering, sales,
marketing, manufacturing, accounting, legal and management functions.
Given the trials and challenges Cyberlux has faced during the past year, I am reminded of
one of my favorite passages from a speech entitled ‘The Man in the Arena’ by Theodore
Roosevelt, a passage I’ve shared with Cyberlux employees first over a year ago.
President Roosevelt’s words are an inspiring reminder of the individual responsibilities
each Cyberlux employee has in the collective effort to build a successful company. I
share this passage with you, our faithful shareholders, because I believe it represents the
character of Cyberlux Corporation and how we are tenaciously resolved to drive the
Company to success. President Roosevelt said:
“It is not the critic who counts, not the man who points out how the strong man
stumbled, or where the doer of deeds could have done better. The credit belongs
to the man who is actually in the arena, whose face is marred by dust and sweat
and blood, who strives valiantly, who errs and comes short again and again, who
knows the great enthusiasms, the great devotions, and spends himself in a worthy
cause, who at best knows achievement and who at the worst if he fails at least fails
while daring greatly so that his place shall never be with those cold and timid souls
who know neither victory nor defeat”.
Cyberlux Management and employees have the great responsibility for building the
business into a sustainable and profitable enterprise, both an arduous and noble task.
Each individual bears the responsibility for creating the future of Cyberlux, for striving
for excellence, for doing the right thing, not just the easy thing. Within the ‘Cyberlux
Arena’, Management is seeing the results of our actions and our change in strategy. We
are committed to the building of a great company, have a deep belief in our capabilities to
serve a wide range of customers and our ability to meet production and engineering
challenges.
Your Management sincerely thanks you for your past and continuing support.
Best regards,
Mark D. Schmidt
President/CEO
Cyberlux Corporation
Thursday, September 17, 2009
NUBL - Contract for $20 Million in Revenue
Sep 17, 2009 14:47 ETNuMobile, Inc. Acquires Silicon Valley Headquartered Enhance Network Communication, Inc. With Anticipated Contract for $20 Million in Revenue and $8 Million Gross MarginHighlighted Links
www.numobileinc.comCARY, NC--(Marketwire - September 17, 2009) - NuMobile, Inc. (OTCBB: NUBL) today announced executing an agreement acquiring Enhance Network Communication, Inc. NuMobile is building a portfolio of security and software solutions for the mobile computing and smartphone market.
Enhance is headquartered in Cupertino, California and currently reports approximately $1.2 million in profitable annual revenue. Enhance has developed a proprietary large enterprise network security technology designed for managing the unique information management requirements of network delivered government services. School districts make up the majority of Enhance's current customer base. Early product testing is currently underway with a new prospective client. In conjunction with the current product testing, a contract that would result in approximately $20 million in revenue with $8 million in gross margin is anticipated as early as year-end.
NuMobile has acquired Enhance in exchange for $5 million in debt. The debt is payable in two parts. $1 million is due one year from closing. The remaining $4 million is due five years from closing and contingent upon Enhance signing $20 million of new business with $8 million in gross margin. Management anticipates that the debt exchanged for the purchase can be serviced out of cash flow from operations.
NuMobile Information and Email Newsletter
To learn more about NuMobile and to sign up for company email alerts, please visit the corporate website at www.numobileinc.com.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause NuMobile's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
Contact:
NuMobile, Inc.
Investor Relations
214-556-5927
ir@numobileinc.com
www.numobileinc.comCARY, NC--(Marketwire - September 17, 2009) - NuMobile, Inc. (OTCBB: NUBL) today announced executing an agreement acquiring Enhance Network Communication, Inc. NuMobile is building a portfolio of security and software solutions for the mobile computing and smartphone market.
Enhance is headquartered in Cupertino, California and currently reports approximately $1.2 million in profitable annual revenue. Enhance has developed a proprietary large enterprise network security technology designed for managing the unique information management requirements of network delivered government services. School districts make up the majority of Enhance's current customer base. Early product testing is currently underway with a new prospective client. In conjunction with the current product testing, a contract that would result in approximately $20 million in revenue with $8 million in gross margin is anticipated as early as year-end.
NuMobile has acquired Enhance in exchange for $5 million in debt. The debt is payable in two parts. $1 million is due one year from closing. The remaining $4 million is due five years from closing and contingent upon Enhance signing $20 million of new business with $8 million in gross margin. Management anticipates that the debt exchanged for the purchase can be serviced out of cash flow from operations.
NuMobile Information and Email Newsletter
To learn more about NuMobile and to sign up for company email alerts, please visit the corporate website at www.numobileinc.com.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause NuMobile's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
Contact:
NuMobile, Inc.
Investor Relations
214-556-5927
ir@numobileinc.com
Sunday, September 13, 2009
ARTI - Artfest International, Inc.'s Board Approves 250 Million Share Exchange for Its Officers and Directors
SOURCE: Artfest International, Inc.
Sep 03, 2009 12:43 ET
Artfest International, Inc.'s Board Approves 250 Million Share Exchange for Its Officers and Directors - 200 Million Common Shares Already Tendered Substantially Reduces Outstanding
Artfest International, Inc.DALLAS, TX--(Marketwire - September 3, 2009) - Artfest International, Inc. (OTCBB: ARTI) is pleased to announce that the Company's Board of Directors has authorized its officers and directors to exchange up to 250,000,000 shares of their common stock for a preferred stock valued at $5.00 per share. This exchange substantially reduces the outstanding shares of the Company. The Board set a price of value of $0.01 per share for the purposes of this exchange. The preferred shares must be held for a minimum of 12 months before they can be converted back to common stock.
The Company decided to authorize the exchange, as it continues the process of evaluating acquisition candidates, as part of its growth strategy. Artfest International is determined to increase shareholder value, maintain a strong balance sheet and improve returns on its common stock.
"The Board of Directors agreed that our shares are undervalued and should be trading at higher levels. We are well positioned for real growth as we continue to work toward our goal of making art affordable to the average person and helping reduce art fraud through the use of our RFID chip technology," stated Edward Vakser, CEO of Artfest International, Inc.
About Artfest International, Inc.
Artfest International, Inc. is a publicly traded Company under the stock symbol "ARTI." Artfest brings together artists, investors, decorators, designers, private collectors and art galleries. Artfest International's corporate site is www.artfestinternational.com. Artfest's subsidiaries are Art Channel, Inc. www.artchannel.tv, and Art Channel Galleries, Inc. www.ArtChannelGalleries.com, offering the most exciting product and rewards program in the history of direct sales marketing.
Safe Harbor Statement -- This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ARTI does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.
Sep 03, 2009 12:43 ET
Artfest International, Inc.'s Board Approves 250 Million Share Exchange for Its Officers and Directors - 200 Million Common Shares Already Tendered Substantially Reduces Outstanding
Artfest International, Inc.DALLAS, TX--(Marketwire - September 3, 2009) - Artfest International, Inc. (OTCBB: ARTI) is pleased to announce that the Company's Board of Directors has authorized its officers and directors to exchange up to 250,000,000 shares of their common stock for a preferred stock valued at $5.00 per share. This exchange substantially reduces the outstanding shares of the Company. The Board set a price of value of $0.01 per share for the purposes of this exchange. The preferred shares must be held for a minimum of 12 months before they can be converted back to common stock.
The Company decided to authorize the exchange, as it continues the process of evaluating acquisition candidates, as part of its growth strategy. Artfest International is determined to increase shareholder value, maintain a strong balance sheet and improve returns on its common stock.
"The Board of Directors agreed that our shares are undervalued and should be trading at higher levels. We are well positioned for real growth as we continue to work toward our goal of making art affordable to the average person and helping reduce art fraud through the use of our RFID chip technology," stated Edward Vakser, CEO of Artfest International, Inc.
About Artfest International, Inc.
Artfest International, Inc. is a publicly traded Company under the stock symbol "ARTI." Artfest brings together artists, investors, decorators, designers, private collectors and art galleries. Artfest International's corporate site is www.artfestinternational.com. Artfest's subsidiaries are Art Channel, Inc. www.artchannel.tv, and Art Channel Galleries, Inc. www.ArtChannelGalleries.com, offering the most exciting product and rewards program in the history of direct sales marketing.
Safe Harbor Statement -- This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ARTI does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.
Monday, September 7, 2009
EcoSystem Closes $76 Million Equity Financing
EcoSystem Closes $76 Million Equity Financing
Wednesday August 5, 2009, 8:58 am EDT
NEW YORK--(BUSINESS WIRE)--EcoSystem Corporation (OTC Bulletin Board: ESYM - News) today announced the closing of its pending $76 Million equity financing with five investment funds.
EcoSystem will use the investment proceeds to acquire distressed ethanol production facilities, to acquire other strategically-compatible assets, and to develop and integrate EcoSystem’s Cellulosic Corn™ technologies into EcoSystem’s planned ethanol production facilities. The funds will be held in a restricted EcoSystem account and be available for use according to the use of proceeds schedule and other conditions specified in the agreements.
EcoSystem’s goal is to achieve an annualized renewable fuel production rate of 500 million gallons per year within three years, and to demonstrate market leadership by using its technologies to refine more fuel out of corn for less cost on reduced energy consumption and carbon emitted.
Detailed information regarding this investment is available online at www.eco-system.com in EcoSystem’s July 30, 2009 and August 5, 2009 Current Reports on Form 8K.
WTL (Waste to Liquid) Renewable Energy, Inc.,
Press Release
Montreal, 27 July, 2009
Novo Energies Corporation Selects GCM Consultants to Begin the Design and Installation of its First Operating Plant
New York, NY – July 27th, 2009 - Novo Energies Corporation, Inc. (“Novo”), a public
company traded on the Over the Counter Market (OTCBB) under the symbol “NVNC”,
announced today that it has selected GCM Consultants of Quebec, Canada to begin the
design and installation of its first operating plant to transform plastics and tires to fuels sources.
Novo Energies’ wholly owned subsidiary, WTL (Waste to Liquid) Renewable Energy, Inc.,
has developed and designed a novel proprietary process to transform plastics and tires waste to liquid fuels such as diesel, gasoline and fuel additives combining thermolysis and gasification among other processes. Novo Energies will build, own and operate small local plants to transform residual plastics and tires to valuable liquid low carbon fuels such as diesel, gasoline and fuel additives. Novo Energies’ strategy is to install small to medium capacity plants of 15 tons/day plastic waste (the size of a standard intermodal container) and/ or 30 tons/day tire waste (approximately 2400 tires/day) to generate approximately 50-65 barrels/day of fuel oil or fuel additives.
GCM is a full service engineering firm dedicated to the industrial projects in the oil and gas, petrochemical, metallurgy, and manufacturing process. GCM’s roster of clients include:
Ultramar, a wholly owned subsidiary of Valero Energy Corporation (NYSE:VLO), Owens
Corning (NYSE:OC), Petro-Canada (NYSE:PCZ), Royal Dutch Shell (NYSE:RDS),
Unilever (NYSE:UN), SC Johnson, a private company with over $7.5Billion in sales, among others. GCM will be providing Novo Energies with complete process services in connection with its plants.
“We are honored that we are able to work with GCM, especially in view of the fact that most of GCM’s clients are some of the largest multinational corporations. Our engineers have already commenced working with GCM to bring the first plant to fruition,” stated Antonio Treminio, Chief Executive Office of Novo Energies.
“GCM is looking forward to working closely with Novo Energies to bring the plants on line.
Novo Energies’ proprietary technology provides a framework to produce useable fuel or fuel additives on an economical and environmentally friendly basis,” stated Normand Thouin, President of GCM.
Montreal, 27 July, 2009
Novo Energies Corporation Selects GCM Consultants to Begin the Design and Installation of its First Operating Plant
New York, NY – July 27th, 2009 - Novo Energies Corporation, Inc. (“Novo”), a public
company traded on the Over the Counter Market (OTCBB) under the symbol “NVNC”,
announced today that it has selected GCM Consultants of Quebec, Canada to begin the
design and installation of its first operating plant to transform plastics and tires to fuels sources.
Novo Energies’ wholly owned subsidiary, WTL (Waste to Liquid) Renewable Energy, Inc.,
has developed and designed a novel proprietary process to transform plastics and tires waste to liquid fuels such as diesel, gasoline and fuel additives combining thermolysis and gasification among other processes. Novo Energies will build, own and operate small local plants to transform residual plastics and tires to valuable liquid low carbon fuels such as diesel, gasoline and fuel additives. Novo Energies’ strategy is to install small to medium capacity plants of 15 tons/day plastic waste (the size of a standard intermodal container) and/ or 30 tons/day tire waste (approximately 2400 tires/day) to generate approximately 50-65 barrels/day of fuel oil or fuel additives.
GCM is a full service engineering firm dedicated to the industrial projects in the oil and gas, petrochemical, metallurgy, and manufacturing process. GCM’s roster of clients include:
Ultramar, a wholly owned subsidiary of Valero Energy Corporation (NYSE:VLO), Owens
Corning (NYSE:OC), Petro-Canada (NYSE:PCZ), Royal Dutch Shell (NYSE:RDS),
Unilever (NYSE:UN), SC Johnson, a private company with over $7.5Billion in sales, among others. GCM will be providing Novo Energies with complete process services in connection with its plants.
“We are honored that we are able to work with GCM, especially in view of the fact that most of GCM’s clients are some of the largest multinational corporations. Our engineers have already commenced working with GCM to bring the first plant to fruition,” stated Antonio Treminio, Chief Executive Office of Novo Energies.
“GCM is looking forward to working closely with Novo Energies to bring the plants on line.
Novo Energies’ proprietary technology provides a framework to produce useable fuel or fuel additives on an economical and environmentally friendly basis,” stated Normand Thouin, President of GCM.
Jedi Mind Updates Shareholders Regarding CNBC and CNN Headline News
Jedi Mind, Inc. (Pink Sheets: JEDM) has announced that the Company has been selected to be featured on CNBC’s “Inside Business with Fred Thompson.” As stated in previous press releases, once filming and editing is complete, air dates will be formally announced. It is currently anticipated to be aired in the month of October, however an official press release will be issued as soon as the dates, times and channels are confirmed – so that all shareholders will have a chance to view the show. All scripts have been approved and final production is underway. The production of the segment is created by an outside media company and aired on CNBC’s “Inside Business” which focuses on emerging technologies in America and reaches approximately 90 million viewers nationwide. The segment will also be aired 10 times regionally on CNN Headline News and other news networks, as well as linked to 700 newsrooms and 1,300 broadcast facilities to use as a video news release.
Source: www.jedimindinc.com
www.passiontolearn.com
Source: www.jedimindinc.com
www.passiontolearn.com
Saturday, September 5, 2009
QASP - $150 million to Quasar's revenue and $33 million in EBITDA for the Company's fiscal year 2010
These first four acquisitions of these well established aviation and aerospace related businesses will add an estimated $150 million to Quasar's revenue and $33 million in EBITDA for the Company's fiscal year 2010. The first group of acquisitions are only the beginnings of the Quasar Aerospace conglomerate as we are actively pursuing other ventures within the aerospace industry.
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