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Car Charging Group (OTCBB: $1.01) Announced yesterday that it has partnered with the City of Dania Beach Community Redevelopment Agency (CRA) to install and maintain charging stations for electric vehicles at the city's brand new garage, located near City Hall in Dania Beach, Florida. The EV charging stations are installed and are available for use to the public effective immediately.
Widely regarded as a cornerstone for revitalizing the area's downtown section, the garage features innovative architecture and eco-conscious features, including electric car charging stations. With parking spaces for 440 vehicles and a brand new hotel slated to begin construction within a few months, this environmentally-friendly parking structure is open and ready for business, complete with four charging stations provided by Car Charging Group, Inc. As the need for additional units becomes necessary, Car Charging will facilitate additional installations of EV Charging Stations.
Car Charging Group has installed ChargePoint(R) Networked Charging Stations for EVs which are manufactured by Coulomb Technologies, the industry leader in electric vehicle charging infrastructure. Through the aid of government tax incentives, subsidies, loan guarantees and grants, Car Charging provides EV charging stations at no charge to property owners/managers while retaining ownership, thus allowing drivers access to convenient locations and partners to realize a percentage of the charging revenue generated.
"We are pleased to be participating in Dania Beach's hard work to become an eco-conscious town and applaud the city on its efforts," said Michael D. Farkas, CEO of Car Charging Group. "This partnership helps to support the need for electric vehicle charging stations nationwide, and we are thrilled to have a nearby town help us lay the foundation."
Dania Beach CRA Director Jeremy Earle stated: "By offering the latest technology and an energy-friendly building, we are ensuring our city's future by responding to efficient energy awareness and consciousness for the environment."
In the coming months, developer Hank Thomas of The Greenhill Development Company will work closely with Dania Beach officials to complete the city's revitalization efforts. Several of the transformations planned include a new Broward County Library and City Hall, as well as a hotel, residential accommodations, commercial areas, modified street design and public art displays.
What They Do: Car Charging Group, Inc. is an owner and provider of electric vehicle (EV) charging stations with the mission to build-out a nationwide infrastructure, enabling EV and PHEV owners to charge their EVs anytime, anywhere. As part of its strategy, the Company owns, provides, installs and maintains electric vehicle charging units and works with its landowner partners to identify appropriate locations for its charging stations. The Company provides convenient, safe and affordable charging stations away from home in customer-friendly public locations, including municipalities, shopping malls and parking garages.
An estimated 40 million plug-in electric vehicles, such as the Nissan Leaf, GM Chevy Volt, Fisker Karma, Tesla Model S as well as many others, are expected to be on the road by 2030. Car Charging Group and other companies in the EV industry realize the need to establish charging station networks throughout the transportation infrastructure to provide easy access to energy everywhere drivers live and work. By investing at the forefront of the electric car revolution, Car Charging Group seeks to become the leading provider of electric car charging services. The Company launched its operations nationally in September of 2009 and is expanding its operations internationally.
Bakers Footwear Group (OTCBB: BKRS) $0.83. Today announced that effective August 26, 2010, it obtained a $5 million debt and equity investment from Steven Madden, Ltd. (Nasdaq: SHOO). Bakers received net proceeds of approximately $4.6 million, net of transaction expenses, and will use the proceeds for working capital purposes. The $5 million note bears interest at 11% with principal payments due during 2017 through 2020 and is subordinate to Bakers’ other outstanding debt. Steve Madden will also be issued 1,844,860 shares of common stock as additional consideration for the loan, providing it with a 19.99% equity interest in Bakers. Steve Madden has agreed to vote its shares in the same manner as Peter Edison, Bakers’ Chief Executive Officer (CEO).
"We are pleased to expand our 20 year partnership with Steve Madden, one of our largest suppliers, to include a financial investment,” said Peter Edison, Chief Executive Officer of Bakers. "This investment has no financial covenants or sourcing, management, or governance conditions of any kind and represents a strong vote of confidence in our business. Bakers has had a business association with Steve from the day he started his company, and we look forward to continuing our excellent and enduring relationship with him and his team."
What They Do: Bakers Footwear Group, Inc. is a national, mall-based, specialty retailer of distinctive footwear and accessories for young women.
Hythiam, Inc. (OTCBB: HYTM) $0.09. Today announced that financial executive Peter Donato has joined the Company as Chief Financial Officer replacing the Company’s interim principal financial and accounting officer. Mr. Donato brings nearly 20 years of professional experience to the Company.
Prior to joining Hythiam, Mr. Donato was Chief Financial Officer at IRIS International, a publicly traded medical diagnostics company and before that was Chief Financial Officer at a medical imaging company. Over Mr. Donato’s career, which includes stints at Ernst & Young, Accellent, General Motors, Honda and Scotts-Miracle Gro, he was responsible for re-building and managing finance and accounting departments, managing all aspects of SEC reporting and SOX 404 compliance, running IT departments, and performing complex financial analysis to enhance operational efficiency, and improve revenue and cost savings.
What They Do: Hythiam, Inc. provides through its Catasys subsidiary, specialized behavioral health management services to health plans, employers and unions through a network of licensed and company managed health care providers
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