Austin, TX 12/12/2007 12:47:12 AM
Speak with other shareholders about: (PINKSHEETS: AUCI), (OTCBB: GSPG), (OTCBB: CNOA), (OTCBB: AWYI), (Pink Sheets: BOLV), (Pink Sheets: UTEI)
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Auctions International Inc. (PINKSHEETS: AUCI)
Auctions International Inc. (OTC: AUCI), a technology company that owns and markets proprietary software to enable real time online auctions of virtually any product or commodity for use by the wholesale market, issued a statement from President and CEO Doug Mann regarding yesterday's volume and price change in its common stock, "No material changes in the Company or management would warrant an increase in trading volume or the sudden drop in share price that occurred on December 10th." Mann explains, "The selling pressure may have been caused by a confusion between our Company and Auctioncities.com, with whom we have no affiliation. Coincidentally, Auctioncities.com is also in the auctions business and trades on the pink sheets under the stock symbol AUCC, just one letter off from ours. Auctioncities.com indicated it would effect a 1-for-1000 reverse split on otcbb.com yesterday, and that this split would be effective today. We want to clarify we are unrelated companies to those who may have mistaken us for this company.
"Management would like to ensure shareholders that Auctions International Inc. is moving in a very positive direction. With our technology model, AUCI lets people sell, buy and advertise in real-time to close transactions quickly to take advantage of economic conditions, particularly the strong Canadian dollar, which is opening up new business opportunities in the U.S. Auctions International has completed extensive dealer testing of AutoBidLive and is now ready to take every dealer in North America live on the system. 2007 marked our entry into the commercialization phase of our technology platform, and management is very optimistic that 2008 will be a tremendous year of growth and increased shareholder value."
Through its wholly owned subsidiary AutoBidLive, Auctions International Inc. is set to bring together over 65,000 North American licensed pre-owned auto dealers into a dynamic online auction reducing their dependence on physical auctions. By utilizing state-of-the-art technology, dealers can make bids in real time, move inventory, and search and buy vehicles specific to consumers' needs. In addition to online automobile auctions for the wholesale market, Auctions International Inc. has identified multiple commodity verticals, which could benefit from its leading-edge online auction technology platform.
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GoldSpring, Inc. (OTCBB: GSPG)
December 10th, 2007-- GoldSpring, Inc. (OTC Bulletin Board: GSPG) announced today that the litigation with N.A. Degerstrom has been settled. The lawsuit originated out of a dispute as to how much the Company owed Degerstrom for services provided. Pursuant to a December 27, 2005 agreement, the parties agreed that the amount to be paid by the Company to Degerstrom would be subject to volume reconciliation by aerial survey. GoldSpring, pursuant to prepared aerial and ground surveys, asserted the Company had been over-billed for amounts of ore and waste which had been hauled by Degerstrom. Degerstrom, according to the original lawsuit, claimed in excess of $806,000 plus interest for services provided, totaling approximately $1,000,000. Under the settlement agreement, GoldSpring will pay Degerstrom $250,000 and both parties agree to dismiss their claims against the other. The agreement is subject to GoldSpring remitting $100,000 by December 11, 2007 and the balance of $150,000 by January 31, 2008.
"We believe this settlement is in the best interests of our shareholders, eliminating the legal cost, the uncertainty of this litigation and the legal distractions," said Rob Faber, CEO of GoldSpring, Inc. "This milestone will allow the Company to focus all its financial and human resources to develop its projects in the Comstock."
GoldSpring, Inc. is a North American precious metals mining company with an operating gold and silver mine in northern Nevada. The Company was formed in mid-2003 and acquired the Plum Mine property located in the Comstock Lode District in November 2003. In the Company's relatively short history, it secured permits, built an infrastructure and brought the Comstock Lode project into production. Since 2005, the Company started acquiring additional properties around their Comstock Lode project in northern Nevada, expanding its footprint and creating opportunities for exploration. GoldSpring is an emerging company, looking to build on its success through the acquisition of other mineral properties in North America with reserves and exploration potential that can be efficiently put into near-term production. The Company's objectives are to increase production, increase reserves through exploration and acquisitions, expand its footprint in the Comstock, and maximize cash flow and return for its shareholders.
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China Organic Agriculture In (OTCBB: CNOA)
China Organic Announces Retail Agreement to Further Expand Distribution Channels Company Expects Purchase Agreement to Contribute Approximately $3 Million to Revenues for Calendar Year 2007
JILIN, China, Dec 10, 2007 China Organic Agriculture, Inc. a growth-driven agricultural products company leading China's organic foods revolution, today announced that the Company has reached a milestone 3 year retail distribution agreement with Tongda Grain and Oil Company, located in Songyuan City, one of the largest cities in the northeastern province of Jilin. The agreement is expected to contribute revenues of 30 million Yuan, equivalent to approximately USD $3 million, within calendar year 2007. This is a new agreement, separate from the agreement announced December 6 with Shunda Grain and Oil. The agreement is the latest measure of CNOA's stated strategic initiative to expand market share by gaining new partnerships with major retail distribution system partners in China and other emerging economies in Asia.
According to the agreement, Tongda Grain and Oil will become one of CNOA's authorized retailers in the retail industry, offering the award-winning "ErMaPao" series of products to the over 7 million consumers in the Songyuan City, Siping City, and Baicheng City areas.
"China Organic continues to expand revenues and earnings from an ever-growing list of agreements with some of China's largest retail distribution systems. This agreement will help to continue our growth as we look to move forward with expanding our distribution systems and broaden our share of the rice market in Songyuan City," said Huizhi Xiao, Chairman of China Organic Agriculture. "With the recent announcements of agreements, we look forward to reaching our target revenue goals for 2007." About China Organic Agriculture China Organic Agriculture is among the largest producers of organic rice in China. CNOA controls all aspects of the process from seeds to planting and processing, R&D and sales. The Company also has an extensive sales network, located in the major cities in China.
CNOA has experienced significant growth since its inception in 2002, and as an agricultural company, is exempt from Chinese tax requirements. The quality of CNOA's products results in the ability to command and receive prices 15% higher than comparables.
CNOA has in excess of 6260 acres dedicated to green and organic rice. The irrigation system is fed from the Nen River, one of the last unpolluted rivers in China, and no chemicals or fertilizers are used in the process. The Company's flagship brand, ErMaPao, has won several quality awards, holds the highest organic certification and is one of the most popular rice brands in China.
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Ariel Way, Inc. (OTCBB: AWYI)
December 11th, 2007-- Ariel Way, Inc. (OTC Bulletin Board: AWYI) announced today the Company has signed a letter of intent to acquire Syrei Holding UK, Ltd, a UK and Sweden based a telecom-consulting firm comprised of senior specialists and experts in the evolving global telecommunications market (www.syrei.com). The deal is forecast to add more than $7.5 million in annualized revenue and to be accretive to Ariel Way's 2008 earnings with over 10% EBITDA. The transaction, which is subject to the signing of definitive agreements and customary closing conditions, has a two-step closing process with a first expected closing in late December 2007. The terms of the transaction were not disclosed.
Arne Dunhem, Ariel Way president and CEO, said, "We are excited with the prospect of having Syrei and its highly skilled consultants to be part of our operation. Thomas Strangert's team of technical experts have over ten years successfully provided and will continue to provide services worldwide to major corporations and telecom operators. They will also add global expertise to our strategy of building a state-of-the-art highly secure Digital Signage Network and will have primary focus on markets in Europe and Asia. We expect this acquisition to be immediately accretive to Ariel Way's earnings. Further, upon the full integration of this transaction, we anticipate moving into the black at the operating income line on a consolidated basis."
Thomas Strangert, CEO of Syrei, said, "We are looking forward to working with Arne and his team to integrate Syrei with Ariel Way's strategy. We are excited about actively supporting the Digital Signage activities in Europe and Asia in addition to continue to expand our current customer base on a worldwide basis."
Syrei, founded in 1997, is a telecom-consulting firm operating out of the UK and Sweden comprised of senior specialists and experts in the evolving global telecommunications market. Syrei's management and technical experts have successfully delivered professional services to value added service providers, telecom equipment manufactures and operators in more than 40 countries around the world. Syrei is a complete solution provider and a system integrator that is able to accept the total responsibility of large and complex projects. Syrei's consultants have been brought in to advise and aid major corporations and telecom operators like Ericsson, Nokia, 3GIS, ABB, Orange, SonyEricsson, Swedbank, Tele2, TeliaSonera, TIM etc.
About Ariel Way, Inc.
Ariel Way, Inc., a Florida corporation ("Ariel Way" or the "Company"), is a technology and services company for highly secure global communications, multimedia and digital signage solutions and technologies. The Company is focused on developing innovative and secure technologies, acquiring and growing profitable advanced technology companies and global communications service providers and creating strategic alliances with companies in complementary product lines and service industries.
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Bolivar Mining (Pink Sheets:BOLV)
December 11th, 2007-- Bolivar Mining (Pink Sheets:BOLV) announced previously that it was examining potential joint venture mining operations in Southern China. The Company has recently secured a 40% interest in the currently-producing Red Dragon 1 gold mine for $500,000 USD.
"We are pleased to announce that we have secured a 40% interest in the gold producing mine," stated Bolivar Mining Corp's CEO and President, Arshad Shah. "This event represents a significant milestone in the development of our operations in China."
"Current mining methods at the Red Dragon mines can be traced to the Han Dynasty, many centuries ago. I visited these sites in November 2007, and concluded that the potential output, through the implementation of modern mining methods would increase many times over. The recent investment of more than $1 million in modern technology and equipment should substantially increase production at Red Dragon 1 from approximately $3,000 per day in revenues to approximately $17,000 per day based on current gold prices.
Red Dragon 1 is one of four mine sites that comprise the Red Dragon Mining Property in and around Jinzhuang China. Jinzhuang is close to Guangzhou, the capital of Guandong Province and is easily accessible by modern highways.
Red Dragon 1 is currently generating revenues of approximately $3,000 per day through gold mining methods that are crude by today's standards. Bolivar has already implemented modernization operations to increase gold production at Red Dragon 1, as a managing partner. Bolivar believes the introduction and implementation of modern mining equipment and techniques will result in production increases exceeding five-times current production.
Further investigation and due diligence of the property and surrounding region are being conducted by Bolivar's experienced team of engineers, geologists, and mineralogists.
About Bolivar Mining Corp.:
Bolivar Mining Corp, is an exploration and mining company seeking global mining prospects in over five countries on three continents. By implementing efficient operations and engineering excellence, BMC will have opportunities to operate in areas where larger mining companies cannot operate profitably, thus creating an opportunity to extract and sell precious minerals to the global market. For more information, visit our website at www.bolivarmining.com.
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UTEC, Inc.(Pink Sheets: UTEI)
On Sunday, December 9th, both UTEC, Inc. and its media representative, Capital Pros Network, were notified that unsolicited email, text and other forms of communication had been sent out regarding UTEC, Inc. The company strongly condemns this activity and is requesting anyone who received this information to disregard such solicitations.
"This is very disappointing for both the Company and for Capital Pros Network," stated Jonathan Pappie, President of CPN. "We employ only specific, legal forms of solicitation on behalf of UTEC, Inc., and we have never been involved with, nor endorsed any activity that is not within the appropriate process. We intend to investigate each and every possible source of this transgression." In closing, Mr. Pappie stated, "We believe in the fundamentals of UTEC, Inc., a company that has worked with the Department of Energy, the Department of Defense and various regulatory agencies such as the Bureau of Alcohol, Tobacco, Firearms & Explosives, the Department of Transportation, and other security agencies. Neither UTEC, Inc., nor CPN would hire someone for, or condone, this type of activity. If anyone has information regarding this activity we would appreciate you emailing us using the contact information below."
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