Solutions Group (Pinksheets: SOLU) $0.06. Announced Tuesday after market close that its subsidiary, idrive Monitoring Systems, signed a distributer agreement with Beek Movil to supply idrive X1 devices in Mexico.
Mexico-based Beek Movil, who sells and installs GPS devices, agreed to terms with idrive monitoring systems last week. Under the terms of the agreement, Beek will stock, sell and install the idrive X1 exclusively in Mexico.
Stefan Dragomir, president of idrive, said that he was "glad to have a company of this stature, who is a leader in their industry, choose to represent idrive. We see Mexico as an important strategic market for our product line. Working with a best-in-class company like Beek will help ensure the success of the X1 in this important market."
Beek Movil has recently been included into the National Registry of Scientific and Technology Institutions and Enterprises (RENIECYT) from the Science and Technology National Committee of Mexico (CONACYT).
What They Do: Solutions Group is an international provider of Managed Engineering Services. The Company seamlessly integrates its regional design centers in North America with its lower cost off-shore engineering locations in Romania and Mexico to provide exceptional blended pricing solutions and reduced product design cycle times. Solutions Group creates greater value for its shareholders by leveraging its core engineering competencies into other opportunities including royalty partnerships, intellectual property creation and selective acquisitions. SGI's customers currently include major Fortune 500 companies, small and mid-range OEMs and early stage product companies.
EV Innovations (OTCBB: EVII) $0.89. Announced Tuesday after market close that the engineering team has released its first all electric 13,000 lb. GVWR cab and chassis to the Test and Tune Department within EVII's Mooresville facility for further evaluation and tuning of the onboard systems to increase overall performance. Ron Cerven, Project Development Engineer, stated, "Initial testing using a full size steel service bed showed superior qualities in top speed, range and usable power." First delivery should take place December 2009.
What They Do: EV Innovations, Inc. engages in the development and marketing of electric powered vehicles and products primarily in the United States.
ERHC Energy (OTCBB: ERHE) $0.53. Announced Tuesday after market close that Addax Petroleum, the operator of Nigeria-Sao Tome & Principe Joint Development Zone (JDZ) Block 4, has commenced drilling the Oki East well this week. ERHC Energy has a 19.5 percent interest in the Block. Drilling is estimated to take approximately five weeks, although the actual timing is dependent on many factors, such as drilling penetration rate, fluids encountered, borehole stability and equipment maintenance, among others.
What They Do: ERHC Energy Inc. is a Houston-based independent oil and gas company focused on growth through high impact exploration in the highly prospective Gulf of Guinea and the development of undeveloped and marginal oil and gas fields.
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