Austin, Texas 11/20/2007 12:00:52 AM
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Earth Biofuels, Inc. (OTCBB: EBOF) (November 19, 2007, 10:00am EDT) Earth Biofuels, Inc. today announced that its subsidiary, Applied LNG Technologies ("ALT") has renewed a three year liquefied natural gas supply agreement with the City of Redlands (California).
The City of Redlands utilizes liquefied natural gas ("LNG") as transportation fuel for its municipal fleet vehicles, and has built an LNG and compressed natural gas ("CNG") refueling station for public use within its city limits.
"This renewal exemplifies our recent successes in growing our profitable LNG business, especially in the California markets," stated Earth Biofuels CEO, Dennis McLaughlin. "We are now in the process of expanding our product availability to make LNG available in major cities outside of California."
LNG meets California's strict emission standards and is now more readily available for use by commercial vehicles, heavy-duty trucks, utility companies, fleets, light-duty trucks and consumer CNG vehicles. Vehicles fueled by the transportation grade LNG produce approximately one-sixth of the nitrous oxides (NOx) and up to 15 percent less greenhouse gases than comparable petroleum diesel fueled vehicles.
"We are pleased to be able to offer the public access to clean, domestically produced LNG and CNG in a convenient location and ALT has been a great partner in this effort," said Gary Van Dorst, Solid Waste Manager for City of Redlands.
Through California's South Coast Air District and Air Quality Management grants, the City of Redlands will operate 20 of its 32 municipal vehicles on LNG/CNG fuels by its fiscal year end.
"This is a win-win agreement because it allows ALT to provide LNG on a long term basis and gives the City of Redlands piece of mind knowing that they have stability regarding their LNG supply," said Kevin Markey, Vice President, ALT, Inc.
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Liberty Diversified Holdings, Inc. (Pink Sheets: LDHG) (November 19, 2007, 9:00am EDT) Liberty Diversified Holdings, Inc. announced today that it has signed a Letter of Intent to acquire of the assets of two premium water companies. These assets include the manufacturing and distribution rights to a proven line of premium bottled water products and a patent for the organic cold-fill processing of nutrient-enhanced bottled water beverages that contain no calories, no carbohydrates, no colors and most importantly, no flavors other than pure water. This concept is unique because no other producer adds organic nutrients without also adding masking flavors, colors or sweeteners. Upon completion of the final agreements, Liberty Diversified Holdings, Inc. will also announce a new Board of Directors and a new corporate direction and will change its name to a new name that is reflective of its entry into the premium enhanced bottled water business. The final agreements are expected to be signed within the next 7 days and the name change will become effective approximately two weeks after the final agreements are signed. The company will then immediately gear up to begin marketing its line of nutrient-enhanced water products.
Commentary
In response to this announcement, Ronald C. Touchard, Chairman and CEO of Liberty Diversified Holdings, Inc., commented, "We are very pleased to announce our intent to acquire 100% of the assets of these two water companies, which when combined will provide everything we need to become a major player in the premium bottled water industry including patented technology, a developed product line, manufacturing capacity, distribution and marketing. The Founder and current CEO of these water companies will become the new CEO of the public company, and the key members of his current staff will join the executive team, bringing with them a combined 70+ years of experience in the bottled water industry. We are very excited about the future of this company as we transition into our new structure and business. We believe that the actions announced today will bring a much greater value to the company and all of its stockholders than our prior business model had been able to generate. This acquisition will give us immediate entry into the fast-growing and lucrative premium bottled water industry with a highly marketable product line of nutrient-enhanced water products that are similar to but more advanced and sophisticated than current products such as SmartWater and VitaminWater."
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China Recycling Energy Corp (OTCBB: CREG) (November 19, 2007, 9:54am EDT) Form 8-K for CHINA RECYCLING ENERGY CORP
16-Nov-2007
Entry into a Material Definitive Agreement, Unregistered Sale of Equi
Item 1.01 Entry into a Material Definitive Agreement
On this Form 8-K current report, the registrant, China Recycling Energy Corporation, is hereinafter referred as "we", or "Company", or "CREG".
On November 14, 2007, Company entered into an Assets Transfer and Share Issuance Agreement ("Agreement A") with Hanqiao Zheng, the President and major shareholder of Company, and Shanghai TCH Energy Technology Co. Ltd ("TCH"), the wholly owned subsidiary of the Company. Under Agreement A, Hanqiao Zheng assigned and transferred to Company two TRT systems ("Invested Assets") owned by him as capital investment. The total value of the Invested Assets is $ 9,677,420. In exchange for the Invested Assets, Company issued to Hanqiao Zheng 7,867,821 shares of common stocks of Company, at the price of $ 1.23 per share. Under the same Agreement A, Company subsequently sold and transferred to TCH the aforementioned Invested Assets for a total price of $ 9,677,420
Also on November 14, 2007, Company entered into a Share Purchase Agreement ("Agreement B") with Hanqiao Zheng. Under Agreement B, Hanqiao Zheng made into Company a cash investment of $ 4,032,258 and, in exchange for the said cash investment, Company issued to Hanqiao Zheng 3,278,259 shares of common stocks of Company, at the price of $1.23 per share.
As the result of Agreement A and Agreement B, Hanqiao Zheng acquired from Company in total 11,146,080 shares of common stock of Company, at the price of $1.23 per share. Company received from Hanqiao Zheng the total investments of $ 13,709,678 in form of two TRT systems and a cash investment.
Hanqiao Zheng is a citizen and resident of the People's Republic of China. He is neither a U.S Person, as such term is defined in Rule 902(k) of Regulation S, nor located within the United States. This transaction also takes place outside of the United States. Therefore, this transaction is exempt from registration under the Securities Act of 1933 in reliance upon the exemption from registration pursuant to Regulation S of the rules and regulations promulgated by the Securities and Exchange Commission under the Securities Act of 1933.
The shares acquired by Hanqiao Zheng pursuant to Agreement A and Agreement B are "restricted shares" which have not been registered with SEC and the resale of which must be made in accordance with Regulation S, Rule 144, registration requirements of the Securities Act of 1933 or an available exemption.
Item 3.02 Unregistered Sales of Equity Securities
As described above in Item 1.01, pursuant to the Assets Transfer and Share Issuance Agreement ("Agreement A") and the Share Purchase Agreement ("Agreement B"), Hanqiao Zheng acquired from Company in total 11,146,080 shares of common stock of Company, at the price of $1.23 per share. Company received from Hanqiao Zheng the total investments of $ 13,709,678, in form of two TRT systems and a cash investment.
Hanqiao Zheng is a citizen and resident of the People's Republic of China. He is neither a U.S Person, as such term is defined in Rule 902(k) of Regulation S, nor located within the United States. This transaction also takes place outside of the United States.
Therefore, this transaction is exempt from registration under the Securities Act of 1933 in reliance upon the exemption from registration pursuant to Regulation S of the rules and regulations promulgated by the Securities and Exchange Commission under the Securities Act of 1933.
The shares acquired by Hanqiao Zheng pursuant to Agreement A and Agreement B are "restricted shares" which have not been registered with SEC and the resale of which must be made in accordance with Regulation S, Rule 144, registration requirements of the Securities Act of 1933 or an available exemption.
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