Austin, TX 1/3/2008 11:46:10 PM
CHAT LIVE with other shareholders about: (PINK SHEETS: HDUP), (OTCBB: TCNH), (OTCBB: CHDO), (NYSE: ALC)
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HeadsUp Entertainment International Inc. (the "Company") (PINK SHEETS: HDUP)
HeadsUp Entertainment International Inc. closed at $0.29 Wednesday, trading 20,002 shares.
Company News- January 2, 2008: HeadsUp Entertainment Inc. Announces the 2008 Canadian Open Poker Championships
HeadsUp Entertainment Inc. a wholly owned subsidiary of HeadsUp Entertainment International Inc. (the "Company") (PINK SHEETS: HDUP) is pleased to have announced that the 2008 Canadian Open Poker Championships will take place March 5-9, 2008 at the Deerfoot Inn and Casino in Calgary, Alberta, Canada. The tournament will feature a series of 5 events with an estimated prize pool exceeding $1.3 million CDN.
Event 1 will be a charity event with 5% of the prize pool being donated to Breast Cancer Research. It will be a $500 buy in, freezeout tournament with capacity of up to 250 players.
Event 2 (the Main Event) will be a $5000 buy in, heads up tournament with a maximum of 128 players. A number of international poker pros and celebrities have already committed to attend and play in the event which will be televised in Canada and around the world.
Event 3 is a $1500 buy in, short handed (6 players/table) tournament with up to a 200 player capacity.
Event 4 is a $1000 buy in freezeout format and Event 5, a $500 buy in freezeout, both expected to attract up to 300 players. All events are subject to regulatory approval.
"We are excited to be hosting this event in Calgary at the Deerfoot Casino," stated President and CEO Kelly B. Kellner. "Our last event attracted a world class field of competitors such as Antonio "The Magician" Esfandiari, Andy Bloch, Nenad Medic and Huck Seed, World Series of Poker Main Event winner from 1996, as well as Canadian pros Greg "FBT" Mueller and "Yukon" Brad Booth. We have a distinct advantage with international players as Canadian prize pools for poker tournaments are tax free and with US and Canadian dollar parity we expect a strong international turnout."
Event information can be found at the company's poker website www.canadianchampionshippoker.com. The site also features previous television productions from events over the past 2 years. A formal media launch will take place at Deerfoot Inn and Casino next week.
About HeadsUp Entertainment International Inc.
HeadsUp Entertainment International Inc. is a global media and entertainment company engaged in the creation of branded entertainment through the development, production and marketing of televised programming based on poker and other entertainment themes.
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Technest Holdings, Inc. (OTCBB: TCNH)
Technest Holdings, Inc. closed at $0.62 Wednesday, trading 56,538 shares.
Company News- January 2, 2008: Technest Holdings Announces Closing of Sale of EOIR Subsidiary for Up to $34 Million
Technest Holdings, Inc. (OTCBB: TCNH), an advanced sensor system, surveillance and 3D imaging company, announced yesterday that it completed the sale of its subsidiary, EOIR Technologies, Inc. ("EOIR") to EOIR Holdings LLC, a Delaware limited liability company ("LLC"), an affiliate of The White Oak Group, Inc., an Atlanta, Georgia based private investment firm. This transaction was reviewed and approved by the Small Business Administration, allowing EOIR to maintain its small business size standard for government contracting purposes.
The sale of EOIR to LLC was structured as a stock sale in which LLC acquired all of the outstanding stock of EOIR in exchange for approximately $34 million in cash, $11 million of which was paid at closing and $23 million of which is contingent upon the successful re-award to EOIR of the contract with the U.S. Army's Night Vision and Electronics Sensors Directorate ("NVESD"). Since 1993, EOIR has successfully won this contract three consecutive times and is confident that it is well positioned to do so again; however there can be no assurances that the contract will be won by EOIR. The award of the NVESD contract is expected in the first quarter of 2008.
Technest believes this transaction will add significant value to its shareholders. Approximately $8 million of the proceeds from the closing were used to retire all of the outstanding commercial debt of Technest and EOIR. Upon the successful re-award of the NVESD contract to EOIR, Technest intends to distribute a majority of the contingent purchase price of $23 million that it receives to its shareholders in the form of a dividend. The remaining portion of the proceeds will be used to continue Technest's investment in promising technologies in the field of 3-dimensional and advanced imaging where Technest holds 19 patents. Going forward, Technest intends to focus on its core technical competencies in advanced imaging and detection and broaden its offerings into the health care and commercial markets.
With the completion of the sale of EOIR, Dr. Joseph Mackin has resigned as a director and Chief Executive Officer of Technest in order to continue his role as President of EOIR under the ownership of the White Oak Group. Mr. Gino Pereira, Chief Financial Officer of Technest, has been appointed Chief Executive Officer of Technest and Mr. Nitin Kotak, Financial Controller of Technest has been appointed Chief Financial Officer.
Mr. Pereira has over 25 years of executive operational and financial experience with technology companies in the United States, Europe and the Far East. He has also helped to develop several technology start-ups as well as serving in an executive capacity in a large multinational public company.
Mr. Kotak has over 25 years of financial accounting experience with public companies in the United States and abroad.
"The completion of the sale of EOIR allows Technest to focus on its world class 3-dimensional imaging solutions in a debt free environment," said Gino Pereira. "We are currently working on the formation of two specific divisions, Homeland Defense and Security, and Medical Devices, to focus on the commercialization of our leading edge technologies, along with personnel to lead those divisions. Our goal is to generate near term revenues and develop business models for our products that result in recurring revenues. These development plans are currently well underway."
About EOIR Technologies, Inc.
EOIR Technologies, Inc. has been providing innovative sensor engineering products and services to customers within the Department of Defense for nearly 25 years. For more information, please visit the company's website at http://www.eoir.com.
About Technest Holdings, Inc.
Technest Holdings, Inc. is a provider of: advanced remote sensor systems, intelligent surveillance and advanced 3D imaging technology solutions to the defense, homeland security and healthcare marketplaces. Technest is committed to setting next-generation imaging standards through the provision of innovative emerging technologies. Through strategic development, Technest focuses on the creation of dual-use technology and products with applications in the defense, civilian homeland security and law enforcement fields as well as healthcare. For more information, please visit the company's website at http://www.technestinc.com.
About The White Oak Group
The White Oak Group, Inc. is a private investment firm focused on investments in the aerospace and defense industry, with an emphasis on the following sectors: Homeland security (detection and deterrence); avionics and instrumentation; command and control; and communication networks and services. http://www.thewhiteoakgroup.com
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CHDT Corp., a Florida corporation (OTCBB: CHDO)
CHDT Corp., a Florida corporation closed at $0.03 Wednesday, trading 1,264,826 shares.
Company News- January 2, 2008: CHDT Corp. Receives Order From National Retail Chain
CHDT Corp., a Florida corporation (OTCBB: CHDO), announced yesterday that its wholly owned subsidiary, Capstone Industries, Inc. (Capstone), has received its second STP order from a national automotive retailer with 1300 stores. The order consists of both tools and automotive accessories which are two product categories of distribution within the STP program. Last November the company launched a line of over 35 STP branded tools and automotive accessories and received its first order from a regional retailer in December. Both orders are scheduled to ship in the first Quarter of 2008.
The Capstone sales team (Oscar Martinez, John Argos, along with President, Reid Goldstein) has been traveling extensively, meeting with retailers and distributors nationwide, making initial presentations. The sales process starts with these first presentations which confirm buyer interest levels and follows with the new vendor setup process, and finally order(s) processing. The company is at various stages of the sales process in several territories across the country and announcements will be made upon receipt of firm purchase commitments.
"I'm pleased to see the products Capstone has developed over the past eight months are being positively received by the retail community and our sales teams are beginning to close retail programs. We invested heavily last year in product development and Capstone management and the results will begin to show in the first Quarter of 2008. The product development process and sales initiatives will continue over the next year as we continue to expand our product offerings and conduct meetings with retailers and distributors nationwide," said Stewart Wallach, CEO of CHDT Corp.
STP is one of the most recognized brand names in the North American automotive industry with over 50 years of history. Capstone has designed a spectrum of technologically innovative products which can be seen at www.stptools.com. Capstone believes its STP line of products will enhance and complement the value of the STP brand. STP cordless power tools feature models with quick-charging Lithium Ion batteries and LED work-area lighting. STP branded accessories include: power inverters, jump starters, spotlights, stools, creepers, and garage clocks.
STP and Armor All are trademarks of Clorox Corp.
ABOUT CHDT CHDT Corp. is a public holding company that engages through its Capstone subsidiary in the sale of consumer products, specifically STP-branded power tools and portable book lights, through retailers and wholesalers nationwide. See http://www.chdtcorp.com for more information about the company and www.capstoneindustries.com and www.stptools.com for information on our products. References to websites or URLs in this press release do not constitute an incorporation of such websites' or URLs' contents in this press release.
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Assisted Living Concepts, Inc. (NYSE: ALC)
Assisted Living Concepts, Inc. closed at $7.11 Wednesday, trading 306,400 shares.
Company News- January 2, 2008: Assisted Living Concepts, Inc. Announces Completion of Acquisition of the Operations of BBLRG, LLC d/b/a CaraVita
Assisted Living Concepts, Inc. (NYSE: ALC) announced yesterday that, effective January 1, 2008, it completed the acquisition of the operations of BBLRG, LLC, doing business as CaraVita. The acquisition, previously announced on November 12, 2007, consists of leasehold interests in eight assisted living residences with a total of 541 units for a purchase price of $14.4 million. The residences, five located in Georgia and one each in Alabama, South Carolina and Florida, are currently 92% occupied with all private pay residents and are expected to generate post acquisition annual revenue, adjusted EBITDAR and adjusted EBITDA of $18.0 million, $7.1 million and $2.2 million, respectively. The properties are under a long-term master lease agreement with Ventas Realty, Limited Partnership with an initial term through March 2015 and three five-year renewal options.
Laurie Bebo, Chief Executive Officer of ALC, said, "We are truly excited about adding the CaraVita operations to our portfolio. We have been impressed with the caliber of people involved with CaraVita and know the integrity and professionalism with which the company has operated are important contributors to its success. These eight communities have historically operated with characteristics similar to our existing portfolio. Additionally, they enhance our private pay mix, occupancy levels and geographic diversification into highly desirable markets."
About Us
Assisted Living Concepts, Inc. is an operator of assisted living residences in the United States. ALC and its subsidiaries operate 216 assisted living residences with capacity for over 9,000 residents in 20 states. ALC's assisted living facilities typically consist of 35 to 60 units and offer residents a supportive, home-like setting and assistance with the activities of daily living. ALC employs approximately 4,800 people.
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