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PEARL ASIAN MINING (OTC: PAIM) "Up 100% on Friday"
Pearl Asian Mining Industries Inc. (OTC: PAIM) is an international mining company exploring the world for opportunities to open or reopen mine facilities and develop them into productive and profitable operations. Utilizing a Debt-Free Financial Statement, and world-class mining expertise, Pearl Asian is recognized for its leadership in the mining industry.
PAIM News:
July 5 - Mandatory Buy Back of Approximately 8,611,655,441 or 95% of PAIM's Issued and Outstanding Common Shares; Record Date of July 20, 2007; Payable at the Rate of $0.00002 Beginning October 10, 2007, Pearl Asian Mining Announces
Pearl Asian Mining Industries, Inc. with Stock SYMBOLS: U.S.A. (OTC:PAIM) (OTC:PAIMP) announces that by Special Corporate Action of the Board of Directors in a meeting held on June 21, 2007 in Cagayan de Oro, Philippines and with full consent and approval of the 77% majority PAIM shareholders, the company resolved to do a mandatory buyback of approximately 8,611,655,441 (Eight Billion Six Hundred Eleven Million, Six Hundred Fifty-Five Thousand and Four Hundred Forty-One) PAIM Common Shares, or 95% of its issued and outstanding common shares effective immediately. Shareholders of record as of July 20, 2007 will be paid at the rate of $0.00002 per common share commencing October 10, 2007.
The Board of Directors issued this special corporate action in order to reduce the staggering public float of approximately 9 Billion issued & outstanding common shares. This final decision is in preparation for the company's application for listing in a higher exchange and to maintain a reasonable public float below 1 billion shares. This mandatory buyback is a creative, positive, and beneficial solution, which enables the company to fulfill a promise made to its shareholders that no reverse split will ever occur. Each shareholder is going to be paid in cashier checks on the retired 95% common shares. The retired PAIM common shares shall then be deposited back in the company's treasury.
Subsequently, Pearl Asian will send the payment directly to the shareholders of record after the shareholders surrender the Original PAIM Common Stock Certificates prior to the pay date commencing October 10, 2007. The certificate (s), with a letter attachment from the shareholder of record advising the Transfer Agent of their current and correct addresses, are to be sent directly to: AGN Associates & Stock Transfer Services, LLC: 5431 Auburn Blvd., Suite #178, Sacramento, CA 95841: Phone: (916)760.7712: Fax: (916)313.8828: e-mail: agnastockta@yahoo.com
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BALLY TOTAL FITNESS (OTC: BFTH) "Up 82.9% on Friday"
Bally Total Fitness is among the largest commercial operators of fitness centers in the U.S., with over 375 facilities located in 26 states, Mexico, Korea, China and the Caribbean under the Bally Total Fitness(R) and Bally Sports Clubs(R) brands. Bally offers a unique platform for distribution of a wide range of products and services targeted to active, fitness-conscious adult consumers.
BFTH News:
July 6 - Bally Total Fitness Confirms Receipt of Alternate Restructuring Proposal
Bally Total Fitness (OTCBB: BFTH), recently announced that its Board of Directors has received a letter from current shareholders Liberation Investments, L.P., Liberation Investments, Ltd., Harbinger Capital Partners Master Fund I, Ltd. and Harbinger Capital Partners Special Situations Fund L.P., which proposes an alternate chapter 11 plan of reorganization for the Company. The Company is engaging in discussions with these shareholders and, subject to the execution of confidentiality agreements, will provide due diligence access to these shareholders for the purposes of their proposal being further refined and proposed definitive documentation being provided to the Board for review and consideration. The shareholders have agreed to complete their due diligence by July 20, 2007, and the Company has asked that proposed definitive documentation be negotiated by that date. There are no assurances that any agreement will be reached with the shareholders.
As previously announced, the Company is currently soliciting consents to its prepackaged plan of reorganization, as to which holders of 63% of its Senior Notes and more than 80% of its Senior Subordinated Notes have signed a Restructuring Support Agreement. The expiration of the Company's solicitation of consents for its proposed plan of reorganization is July 27, 2007. The Company will continue soliciting consents from noteholders while the Board engages in discussions with these shareholders.
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TRANSMETA CORP (NASD: TMTA) "Up 34.2% on Friday"
Transmeta Corporation develops and licenses innovative computing, microprocessor and semiconductor technologies and related intellectual property. Founded in 1995, we first became known for designing, developing and selling our highly efficient x86-compatible software-based microprocessors, which deliver a balance of low power consumption, high performance, low cost and small size suited for diverse computing platforms. We are presently focused on developing and licensing our advanced power management technologies for controlling leakage and increasing power efficiency in semiconductor and computing devices, and in licensing our computing and microprocessor technologies to other companies. To learn more about Transmeta, visit www.transmeta.com.
TMTA News:
July 6 - AMD Makes Strategic Investment in Transmeta
Transmeta Corporation (NASDAQ:TMTA) and AMD (NYSE:AMD) recently announced that AMD has invested $7.5 million in Transmeta in exchange for Transmeta preferred stock.
"We are very pleased that AMD has made a strategic investment in the future of Transmeta," said Les Crudele, president and chief executive officer of Transmeta. "AMD has long been a leader in the development and delivery of energy-efficient, high-performance computing technologies, standards and initiatives. Transmeta has been proud to endorse and contribute to those industry leading activities, and we look forward to continuing our collaboration with AMD on technology initiatives in the future."
"Transmeta has been an innovative force in the industry for more than a decade," said Dirk Meyer, president and chief operating officer of AMD. "Transmeta was a key ally in helping to bring our highly-successful AMD64 technology to market and has supported the widespread industry adoption of both AMD64 and AMD's HyperTransport technology. Our investment will support Transmeta's technology development work and AMD's efforts to leverage Transmeta's innovative energy-efficient technologies to the benefit of AMD's customers."
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GLOBAL MED TECHNOLOGIES (OTCBB: GLOB) "Up 28.3% on Friday"
Global Med Technologies, Inc. is an international e-Health, medical information technology company, providing information management software products and services to the healthcare industry. Its Wyndgate Technologies division is a leading supplier of information management systems to U.S. and international blood centers and hospital transfusion centers. Current clients of Wyndgate's products and services manage more than 3 million units of blood, or over 22% of the U.S. blood supply, each year. Wyndgate's products are being used in Canada and sub-Saharan Africa, and are being implemented in the Caribbean. Together, the SafeTrace Tx advanced transfusion management system and the SafeTrace donor management system provide Vein-to-Vein tracking from donor collection to patient transfusion.
GLOB News:
July 5 - Global Med Technologies(R) to Present at C.E. Unterberg, Towbin Emerging Growth Opportunities Conference
Global Med Technologies(R), Inc. ('Global Med' or the 'Company') (OTCBB: GLOB), an international e-Health, medical information technology company, will be presenting at the C.E. Unterberg, Towbin Emerging Growth Opportunities Conference to be held at the Mandarin Oriental Hotel located at the Time-Warner Center in New York City.
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RUSHNET (OTC: RSHN) "Up 18.4% on Friday"
RushNet Inc. (OTC: RSHN) is the licensed marketing agent for Rush Beverage Company products including Ginseng Rush(R), Rush Ginseng Cola(TM) and energy drinks Rush Ginseng Cola XXX(TM) and Ginseng Rush XXX(TM) energy drinks. RushNet, Inc. is also brand owner of e-water(TM). www.enjoytherush.com
RSHN News:
July 6 - Apple Rush Is Featured On NBC-TV Chicago Spot This Week
RushNet, Inc.'s (OTC:RSHN) Apple Rush made its editorial television debut Tuesday, July 3 as the featured beverage in a spot on Chicago NBC TV affiliate Channel 5. In a segment on Cool Juices for the Cooler, Organic Apple Rush was the first brand mentioned and received the most airtime. The segment was aired just minutes before The Today Show commenced, viewership was in excess of 100,000.
Joanne Rusch, Food Cop for NBC TV Chicago, first encountered the Organic Apple Rush Sparkling 100% Juice line at the National Restaurant Show in Chicago where she tried all six flavors and was quite impressed with the taste and presentation of the product. On the broadcast she praised it as a cool product with a good name, and from a Chicago-based company. The clip can be viewed at http://www.applerush.com/NCH134349_01.WMV or at www.applerush.com. The timing was fortuitous as the Organic Apple Rush line is being featured in newspaper ads and case displays at numerous Chicago Supermarket chains over the 4th of July holiday marketing cycle.
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AD VENTURE PARTNERS (OTCBB: AVPAW) "Up 16.9% on Friday"
Ad.Venture Partners, Inc. is a special purpose acquisition company formed for the purpose of acquiring, through a merger, capital stock exchange, asset acquisition or other similar business combination, one or more operating businesses in the technology, media or telecommunications industries. In its initial public offering in August of 2005, AVP raised gross proceeds of $54 million and placed $50.4 in a trust account. AVP's management team has a combined 30 years of experience starting, financing, growing, operating and selling both private and public companies in the technology, media and telecommunications industries.
AVPAW News:
July 6 - Laurus Master Funds Supports 180 Connect in Arrangement with Ad.Venture Partners
Ad.Venture Partners, Inc. ('AVP') (OTCBB: AVPA.OB, AVPAW.OB, AVPAU.OB) announced Friday that 180 Connect, Inc. ('180 Connect') has secured interim additional financing from its senior lender, Laurus Master Fund, Ltd. ('Laurus'), to fund working capital up until the closing of the proposed arrangement with AVP, or the earlier of 45 days from the date the arrangement does not close and September 30, 2007. As previously announced, AVP and 180 Connect are proposing to engage in a business combination pursuant to which AVP will indirectly acquire all of 180 Connect's outstanding shares and 180 Connect will thereby become an indirect subsidiary of AVP. The combination will be carried out pursuant to an arrangement under a plan of arrangement pursuant to the Canadian Business Corporations Act as set forth in an arrangement agreement dated March 13, 2007 among AVP, a wholly-owned indirect subsidiary of AVP and 180 Connect. As part of such interim financing, Laurus agreed to provide an additional $8.0 million to 180 Connect as an increase to its current $37.0 million revolving loan, for a total revolving loan of $45.0 million. Laurus also agreed to extend the maturity of an existing $9.0 million over advance letter on a revolving loan from July 31, 2007 until September 30, 2007.
In connection with such interim financing, Howard Balter, AVP's chief executive officer, and Ilan Slasky, AVP's president and the chief financial officer, indicated that they will provide limited recourse guaranties for the additional financing Laurus is providing to 180 Connect by placing $7.0 million cash in a brokerage account pledged to Laurus. It is expected that Messrs. Balter and Slasky would be permitted to use the cash in the account to purchase shares of AVP common stock provided that such shares continue to be subject to the pledge.
In addition, Laurus has indicated that it intends to loan $10.0 million to a special purpose corporation for the purpose of purchasing shares of AVP common stock. The special purpose company would not be affiliated with either AVP or 180 Connect and neither AVP nor 180 Connect will have any interest in or control (including voting control) over either the special purpose company, any purchases made by the special purpose company or any shares of AVP common stock purchased by the special purpose company. Although AVP anticipates that any shares purchased by the special purpose company would be purchased in privately negotiated transactions and would be voted in favor of the arrangement, neither the special purpose corporation nor Laurus have agreed to make any specific amount of purchases or to vote any shares purchased in any specific manner.
In connection with the interim financing, Laurus will receive warrants to purchase one million 180 Connect common shares with a 5-year term, exercisable at $2.61 per share, the market price at the time of issue, and subject to a 1 year lock-up. In addition, upon completion of the arrangement, Laurus is entitled to receive warrants to purchase 250,000 shares of AVP with a 5- year term exercisable at the closing price on the date of the arrangement and subject to a 1 year lock-up.
In addition, 180 Connect and AVP agreed to an adjustment to the previously announced exchange ratio per AVP share of 0.627 to 0.6 and to the elimination of a mechanism to adjust the exchange ratio based on relative transaction expenses of the parties.
As the saying goes...follow the money!
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