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Global Warming Solutions, Inc. (Pink Sheets: GWSO)
September 28th, 2007-- Global Warming Solutions, Inc. (Pink Sheets: GWSO) - a developer of technologies aimed at mitigating the effects of Global Warming - today announced a Cooperation Agreement for distribution of PureRay water purification technology.
EurekaForbes - a well established marketer of water purification systems with more than 6 million customers - will partner with Global Warming Solutions to bring Global Warming's PureRay technology to
The effort will be spearheaded by EurekaForbes's 6000-strong sales force, 3800-strong dealer sales network and 58 international distributors.
With PureRay, Global Warming Solutions has succeeded in changing for the better the way water and other beverages are made clean and consumer-ready.
The secret to PureRay, explains Dr. Vladimir Vasilenko, chief executive officer of Global Warming Solutions, is its ability to pasteurize without damaging the vitamins and nutrients inherited in the drinks - an outcome science has pursued since the days of Louis Pasteur himself.
Results of the most recent scientific research confirm:
-- Pure Ray's Near Infrared Light produces virtually no heat within water, beverages or fresh produce.
-- Nonetheless, Near Infrared Light is able to kill more than 99.9% of E. coli O157:H7, Listeria and many other harmful microbes.
-- Near infrared cold pasteurization (ICP) brings no disadvantages in terms of quality of the products.
-- The technique preserves the natural quality of the products (important biochemical ingredients, flavor and original taste) while eliminating the microbes.
-- ICP technology costs less than most currently used commercial methods due to its low energy consumption and low cost of the equipment (light-emitting diodes, or LEDs, as well as and Laser diodes).
In the future, Dr. Vasilenko added, it is possible that all produce will be touched with PureRay before going to market. As it does in liquids, in produce PureRay kills the unwanted microbes without harming the underlying fruit and vegetables.
Similarly, he predicted, PureRay could find itself in the position of being a favorable water purification technology not only in third world nations but also densely populated, rapidly industrializing countries such as
"So long as clean water and healthy produce are important to the people of the world, there will be strong consumer demand for PureRay," Dr. Vasilenko noted.
About Global Warming Solutions, Inc.
Global Warming Solutions develops and commercializes technologies that help mitigate Global Warming and its effect on our planet. The Company targets three areas that help reduce the extent of Global Warming and fight issues that have risen in consequence: Clean Energy, Carbon Control, and Water Purification. Current climate models predict that global temperatures will rise sharply over the next century. The increase in temperatures can be slowed or eliminated by decreasing the amounts of greenhouse gases released into the Earth's atmosphere. Global Warming Solutions seeks to leverage its experience and management to help make a difference in the fight for climate control.
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China Natural Gas, Inc. (OTCBB: CHNG)
September 27, 2007 - China Natural Gas, Inc., one of the leading providers of pipeline natural gas for industrial, commercial and residential use and compressed natural gas (CNG) for vehicular fuel in Xi'an, China, today announced that it received government approval from the Shaanxi Province to pursue a diversified natural gas project, which when completed will enable China Natural Gas to produce various natural gas products, including liquefied natural gas ("LNG"), liquefied petroleum gas, dry ice, and sulfur. As part of the project, China Natural Gas plans to complete an LNG processing and distribution facility in
The Company held an opening ceremony on September 20, 2007 to celebrate the beginning of the project. The governor of
Mr. Qinan Ji, Chairman and CEO of China Natural Gas, stated, "We are so pleased to successfully gain government approval to pursue our diversified natural gas project, which when completed will be the first LNG facility in the Shaanxi Province and we believe will be the second largest in China. The approval process for projects of this type is lengthy and arduous -- a factor which we believe is a significant barrier to entry to potential competitors and which better positions our company for long-term growth. This project also allows us to diversify our business and focus on two high-growth areas at once, our CNG filling station business and the distribution and sale of other forms of natural gas, like LNG. Overall, we believe that the PRC's clean energy policies will bolster demand for natural gas in
Management is currently working with Chemtex Engineering Co., one of the largest engineering consultants in the world and which has proven experience in the engineering, design and construction of similar projects in
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CardioDynamics (Nasdaq: CDIC)
September 28th, 2007-- CardioDynamics (Nasdaq: CDIC), the innovator and leader of BioZ(R) Impedance Cardiography (ICG) technology, today announced the Company has received market clearance from the U.S. Food and Drug Administration (FDA) for new ICG clinical parameters and electronic medical record (EMR) interface capability for its BioZ Dx System. The BioZ Dx is the product of a co-development partnership between the Company and Philips Medical Systems that leverages each company's technology and expertise.
The new ICG clinical parameters include total arterial compliance (TAC) and Q-C time interval (QC). TAC allows the assessment of peripheral artery elasticity, an early marker of peripheral artery and cardiovascular disease. Monitoring TAC may allow earlier identification of cardiovascular risk not apparent with standard tools, including blood pressure assessment, and earlier therapeutic intervention which has been proven to delay or prevent cardiovascular disease progression. QC has been demonstrated to offer enhanced assessment of cardiac contractility. The Company's early clinical investigations have shown enhanced association with more costly, but advanced cardiac diagnostic evaluation, including ejection fraction. The Company believes that these parameters may contribute to earlier and more cost-effective evaluation of heart failure, the most costly disease for Medicare.
The Company also announced FDA 510(k) clearance for expanded BioZ Dx EMR interface capability. By improving medical practice efficiency and patient safety, EMR is viewed as a valuable component of the healthcare system. EMR has been at the center of legislative discussions, with Congress and the Department of Health and Human Services working to link Medicare reimbursement to EMR processing. This has resulted in an increasing demand by physician offices for EMR capability. The BioZ Dx EMR interface is designed to operate in conjunction with the Company's proprietary PC software, BioZport(TM), which automatically sends BioZ ICG clinical data to the customer's local PC network in one of three industry-accepted formats. The data can then be easily integrated into each patient's electronic medical record.
Michael K. Perry, CardioDynamics' Chief Executive Officer, stated, "We are very pleased to receive FDA 510(k) clearance for these BioZ Dx enhancements. As the innovator of ICG technology, we are committed to ongoing product development and clinical research to prove the increasing clinical value of ICG and to provide clinicians and patients with the most advanced heart monitoring technology available."
Perry added, "The BioZ Dx EMR capability will assist in improving overall efficiency in cardiac care and physician office environments by providing clinicians with access to vital ICG data, when and where they need it."
About CardioDynamics:
CardioDynamics (Nasdaq: CDIC), the ICG Company, is the innovator and leader of breakthrough medical technology called Impedance Cardiography (ICG). The Company develops, manufactures and markets noninvasive diagnostic and monitoring technologies and electrodes. The Company's ICG Systems are being used by physicians around the world to help battle the number one killer of men and women -- cardiovascular disease. Partners include GE Healthcare and Philips Medical Systems. For additional information, please refer to the company's Web site at http://www.cdic.com.
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Silverstar Holdings, Ltd. (Nasdaq: SSTR)
September 27th, 2007-- Silverstar Holdings, Ltd. (Nasdaq: SSTR), an international publisher and developer of interactive entertainment software, reported record financial results for its fourth quarter and fiscal year 2007 ended June 30, 2007.
Fourth Quarter Fiscal 2007 Financial Results
As compared to the previous quarter and same period a year ago:
* Revenues for the quarter totaled $12.0 million, an increase of 161% from $4.6 million in the previous quarter, and a 2500% increase from $470,000 a year ago. The increase over the previous and year-ago quarters is primarily due to the performance of Empire Interactive, PLC, which Silverstar acquired in December 2006.
* Net income totaled $2.6 million or $0.25 per share, compared to a loss of $2.8 million in the previous quarter or ($0.27) per share and a loss of $868,000 or ($0.10) per share a year-ago.
* Operating EBITDA (Earnings before Interest Taxes Depreciation and Amortization), a non-GAAP measure, totaled a record $4.6 Million or $0.45 per share, as compared to an operating EBITDA loss of $0.3 million or ($0.03) per share in the previous quarter and operating EBITDA loss of $0.6 million or ($0.06) per share a year ago. The company recorded depreciation and amortization charges of approximately $2.0 million in the fourth quarter, compared to $950,000 in the same period last year. A reconciliation of operating EBITDA to operating income is included at the end of this release.
Full Year Fiscal 2007 Financial Results
* Revenues for fiscal 2007 totaled a record $19.8 million, an increase of 500% from $3.3 million in fiscal 2006. The gain is primarily attributable to the contribution of seven months of increasing revenues from the company's Empire Interactive subsidiary, which generated revenues of approximately $17.2 million in fiscal 2007. During fiscal year 2006, revenues were generated solely by the operations of the company's Strategy First subsidiary.
* Net loss totaled $2.4 million or $0.25 per share compared to a loss of $2.0 million or $0.21 per share in 2006. Depreciation and amortization charges totaled $4.7 million in fiscal 2007, as compared to $180,000 in fiscal 2006.
* Operating EBITDA, a non-GAAP measure, totaled a record $3.1 Million or $0.31 per share, as compared to an operating EBITDA loss of $1.1 million or $0.12 per share in fiscal 2006.
"The record results for the fourth quarter exceeded our expectations," said Clive Kabatznik, CEO of Silverstar Holdings Ltd. "Revenues, operating EBITDA and net income improved dramatically as we expeditiously leveraged the company's new large back catalog and began the transition to next gen game platforms, like Xbox 360, Nintendo, DS and Wii; and introduced new titles. We also stepped up our release schedule, releasing 12 skus in the fourth quarter, up more than 50% over last quarter. Finally, we continued to build on Empire's international presence, particularly its strong and unique European distribution network. The outlook for next fiscal year is already looking strong, with at least 50 more SKUs due out in 2008." Other Q4 Highlights
* FlatOut Ultimate Carnage, released on Xbox 360 in
* Double Dragon, released on Xbox Live Arcade, was a number one seller upon launch with more than 55,000 copies downloaded in the first week.
* Silverstar's Strategy First subsidiary expanded its relationship with GameTap, the first broadband entertainment network from Turner Broadcasting System, Inc. (TBS), so that every game released by Strategy First through 2012 will be available for exclusive online play and for purchase in GameTap's new online digital retail storefront.
Fiscal 2008 Outlook Silverstar plans to release at least 50 SKUs during the fiscal year 2008. Most prominent among these will be the North American release of FlatOut Ultimate Carnage on Xbox 360 on October 2, 2007. Other near-term releases include FlatOut Head-on for PSP and the FlatOut PC version are expected to be released internationally in the second or third fiscal quarter, with Jackass on PS2 and PSP being released in Europe in the second quarter.
Based on the current release schedule, most of the company's new high profile titles for fiscal 2008 will be released during the October through June period. Management anticipates revenues will exceed $40 million for the full fiscal year 2008, with operating EBITDA in the range of 17.5% to 25.0% or $7 million to $10 million. As anticipated, management expects the first fiscal quarter to be weakest of the year, with 100% to 110% of the operating EBITDA anticipated in the final three quarters of the fiscal year.
Conference Call
Silverstar will host a conference call today at 4:30 p.m. Eastern Time. A brief presentation by management will be followed by a question and answer period. To participate in the call, dial the appropriate number 5-10 minutes prior to the start time, request the Silverstar Holdings conference call and provide the conference ID.
Domestic callers: 1-888-200-2794 International callers: 1-973-935-8766 Conference ID#: 9266938 Internet Simulcast: http://viavid.net/dce.aspx?sid=00004554
The call will be available for replay starting at 7:30 p.m. Eastern Time until October 26, 2007:
Toll-Free Replay number: 1-877-519-4471 International Replay number: 1-973-341-3080 Replay PIN #: 9266938
If you have any difficulty connecting with the conference call or webcast, please contact the Liolios Group at 949-574-3860.
About Silverstar Holdings
Silverstar Holdings Ltd. is an international publisher and developer of interactive entertainment software. It currently owns Empire Interactive, PLC and Strategy First, Inc. Empire Interactive (www.empireinteractive.com) is a leading developer and publisher of interactive entertainment software games, including Starsky & Hutch, Big Mutha Truckers, Ford Racing and FlatOut. Empire's products are delivered on both console and PC platforms. Strategy First (www.strategyfirst.com) is a developer and worldwide publisher of entertainment software for the PC. For more information about Silverstar Holdings visit www.silverstarholdings.com
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the company's filings with the Securities and Exchange Commission.
Reconciliation of Operating Income to Operating EBITDA
In addition to other measures, management evaluates operating results based upon operating "EBITDA," which is defined as operating income before depreciation and amortization, interest expense and income taxes, each of which is presented on the company's Consolidated Statements of Operations. The company's presentation of operating EBITDA, a non-GAAP measure, may not be comparable to similarly titled measures used by other companies. Any of these items could be significant to the company's financial results. The following table reconciles operating EBITDA to operating income for the periods indicated.
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