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Sweet Success (OTCBB: SWTS) Up 4.21% on Wednesday
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December 26, 2007 - Sweet Success CEO William Gallagher is Taking Over As Chief Operating Officer As a Further Step to Streamline Operations
Today, Sweet Success (OTCBB:SWTS) is announcing that Glenn Williamson, President and COO and Board Member, is going to step down from his President and COO position and will remain on the Board to assist in the task of supervising the acquisition of new production.
"This is a great move because Mr. Williamson has agreed to give up the balance of his employment contract which will save the company a substantial amount of money as we move forward," said William Gallagher, Sweet Success CEO. "We have a tremendous need for increased production activities and having Mr. Williamson assist on this task is going to be extremely helpful."
USTelematics, Inc. (OTC: UTLM) Up 15.38% on Wednesday
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December 24, 2007 - USTelematics Breakthrough Vivee Technology Lauded in Feature Article in New York Times
USTelematics, Inc. (OTC:UTLM), deploying proprietary technology and market-disruptive products at the forefront of the connected-car revolution, announced today that the Company's proprietary Vivee product line has received favorable coverage in the technology section of the Sunday, December 23, 2007, edition of The New York Times. The article is the latest validation of the Company's breakthrough product line Vivee(TM), an innovative voice-interactive solution that "speaks" email and text messages.
The article headlined, "For Those Who Text and Drive, You Can Stop Now," provides an overview of newly introduced designed to make driving safer and more efficient through use of voice recognition technologies.
"As hands-free kits have helped ease the distraction problem of cell phones in cars, speech technology is trying to tackle the problem of the written word by reading messages aloud to drivers," said the article. "Another voice system, by USTelematics, offers an application and online service called Vivee (Voice Interactive Voice Enhance E-mail). The software works with Windows Mobile devices, including the Palm Treo, and costs $29.99. Monthly service is an additional $4.99."
"To get Vivee working, the software must be downloaded to a smart phone. Users log into the service, which connects to the Internet over the wireless data network. The female read-back voice of Vivee is much more natural than (Ford) Sync's, and Vivee can also handle e-mail."
USTelematics will introduce its highly anticipated products to the public next month at the 2008 International Consumer Electronics Show (CES). The Company has outlined an aggressive set of sales goals for the CES event, including acceptance of purchase orders and finalization of relationships with a range of retailers, from big box chains to small and mid-size retailers. One of the world's leading venues for the introduction of new and innovative electronics and technology products, the International CES will be held January 7-10 in
Zhongpin Inc. (OTCBB: ZHNP) Up 7.66% on Wednesday
Detailed quote: http://www.beaconequityresearch.com/ZHNP
December 26, 2007 - Zhongpin Approved to List on the Nasdaq Global Select Market
Zhongpin Inc. (OTC Bulletin Board: ZHNP) ("Zhongpin"), a leading meat and food processing company in the People's Republic of China ("PRC"), announced that it has received approval for listing on the Nasdaq Global Select Market.
Zhongpin plans to start trading on the Nasdaq Global Select Market from December 27, 2007. Nasdaq has reserved HOGS as the trading symbol for Zhongpin's common stock.
"We are extremely pleased to be approved to list our common stock on the Nasdaq Global Select Market," commented Mr. Xianfu Zhu, Chairman and CEO of Zhongpin. "Having our common stock listed on the Nasdaq Global Select Market is an important part of our goal to increase our profile in the international markets as we help advance the modernization of
Empire Film Group, Inc. (OTC: EFGU) Up 30.58% on Wednesday
Detailed quote: http://www.beaconequityresearch.com/EFGU
December 26, 2007 - Empire Film Group Announces Latin American Distributor, Cinemac, for "
Empire Film Group, Inc. (PINKSHEETS: EFGU) is pleased to announce the Company has signed a deal with leading Latin American Distribution company, Cinemac (http://www.cinemacfilms.com/), in partnership with Tayrona Entertainment Group, for the feature film "Havana Heat," scheduled for release in 2008.
"Havana Heat" is a Canada-Colombia co-production action adventure story about an ex-secret service agent who is called back into service on special assignment on the
"We are excited to have Cinemac as our Latin American Distribution partner for 'Havana Heat' and future Empire Film Group productions," stated Mr. Dean Hamilton Bornstein, CEO of Empire Film Group, Inc. "Having Cinemac and Tayrona Entertainment, two leading international distribution and production companies, as partners is the ideal way for Empire Film Group to reach over 600 million Spanish speaking people around the world."
Nyer Medical Group, Inc. (Nasdaq: NYER) Up 42.02% on Wednesday
Detailed quote: http://www.beaconequityresearch.com/NYER
December 26, 2007 - Nyer Medical Group Reaches Agreement to Acquire Minority Interest in Pharmacy Chain Subsidiary
Nyer Medical Group, Inc. (Nasdaq: NYER) today announced that it has reached agreement with the minority shareholders of its subsidiary, D.A.W., Inc. d/b/a Eaton Apothecary to acquire the remaining 20% interest in the pharmacy chain in fulfillment of Nyer's obligation pursuant to a 1996 shareholder agreement.
By agreeing to a series of transactions, the minority shareholders will immediately assume management of Nyer and will control approximately 58% of the voting power of Nyer. Karen Wright will resign her position as President of Nyer, while continuing as Vice-President-Finance. She, Donald Lewis and Dr. Kenneth Nyer will resign their board positions while the Nyer board will elect Mark and David Dumouchel to the board. Mark Dumouchel, president of the pharmacy subsidiary since 1990, will be appointed Chief Executive Officer and President of Nyer. Upon closing, certain former subsidiary minority shareholders will sign three-year employment agreements to serve as executive pharmacy managers. As conditions of the buyout are met, all preferred shares of the company will be retired.
Over time and when fully realized upon, Nyer will satisfy its $4 million obligation through a series of transactions. The agreement provides for a $1.75 million cash payment, the issuance of a new class B2 convertible preferred shares to the minority shareholders, and the issuance of two notes, a $350,000 promissory note bearing interest at a rate of 7% per annum maturing in 5 years and a $1.5 million convertible promissory note bearing interest at a rate of 8% per annum maturing in 3 years. The class B2 preferred shares will convert to 218,000 shares of common stock, subject to adjustment, in 3 years provided Nyer meets certain financial obligations to the minority shareholders. The convertible note is convertible at any time following one year at the holders' election into Nyer common stock at an initial conversion rate of $1.84 per share, subject to adjustment, and is redeemable at the holders' election, in whole or in part, based upon the occurrence of certain transactions. It is anticipated that the cash funding for the transaction will occur through D.A.W.'s increased available cash flow, as a result of the extension of payment terms by its major supplier.
The new agreement also calls for Nyer to simultaneously acquire 100% of its outstanding shares of Class A and B preferred stock owned by Samuel Nyer in exchange for a $400,000 promissory note bearing interest at a rate of 7% per annum maturing in 5 years. In addition, the minority shareholders of D.A.W. have agreed to purchase 597,827 shares of Nyer common stock owned by Nyle International Corp. for $1.84 per share.
The change of control that would be caused by these transactions is subject to Nyer shareholder approval and other closing conditions.
"We are very pleased to have reached this agreement and look forward to the realization of the true value of the Company's stock," said D.A.W. president and incoming Nyer CEO Mark Dumouchel.
"We are excited we have reached an agreement to purchase the remaining 20% of our pharmacy segment, D.A.W., Inc. and will have employment contracts with our five executive pharmacy managers, stated Karen Wright, current President of Nyer Medical Group, Inc. "This is an important time for the Company as we strive to increase profitability and increase shareholder value."
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