latest news releases from the newsroom
Spector Roseman Kodroff & Willis, P.C.
Spector, Roseman & Kodroff, P.C. Announces The Filing Of A Class Action Suit Against IMPATH, Inc. -- IMPH
PHILADELPHIA, August 15, 2003 (PRIMEZONE) -- The law firm of Spector, Roseman & Kodroff, P.C. announces that a securities class action lawsuit was commenced in the United States District Court for the Southern District of New York, on behalf of purchasers of the common stock of IMPATH, Inc. ("IMPATH" or the "Company") (Nasdaq:IMPH) between February 21, 2001 through July 29, 2003, inclusive (the "Class Period").
Axesstel Reports Continuing Strong Revenue Growth in Second Quarter
SAN DIEGO, Aug. 15, 2003 (PRIMEZONE) -- Axesstel, Inc. (OTCBB:AXES), a leader in developing, manufacturing and marketing high-quality, CDMA-based fixed wireless local loop (WLL), hybrid terminals and gateway solutions to operators worldwide, today announced financial results for the fiscal 2003 second quarter, which ended June 30, 2003, and for the first six months of the fiscal year. In accord with management expectations, results reflected continued strong revenue growth.
Global ePoint, Inc.
Global ePoint Receives Letter of Listing Requirement from Nasdaq
CITY OF INDUSTRY, Calif., August 15, 2003 (PRIMEZONE) -- Global ePoint, Inc. (the "Company") (Nasdaq:GEPT) reported that it has been notified by Nasdaq Staff that, based on the Staff's review of the recent merger between the Company and McDigit, Inc., a change of control occurred with the Company upon completion of the merger on August 8, 2003. As a result, the Company received notification on August 11, 2003 that the Staff has determined that in accordance with Nasdaq Marketplace Rule 4330(f), the Company will be required to submit an initial listing application and meet all initial inclusion criteria on The Nasdaq Small Cap Market in order to remain listed on that market. The Company believes it met all of the initial inclusion criteria on August 8, 2003, with the exception of the $4.00 minimum requirement. On August 8, 2003, the Company's closing bid price was $3.44. As such, the Staff determined that the Company's securities are subject to delisting from The Nasdaq Small Cap Market. The Company is currently preparing to request a hearing before a Nasdaq Listing Qualifications Panel to review the Staff's determination and the matter will be stayed until the Panel has had an opportunity to review it. There can be no assurance the Panel will grant the Company's request for continued listing. If the Company does not continue to list on The Nasdaq Small Cap Market, it will immediately be eligible for quotation on the OTC Bulletin Board.
AngelCiti Entertainment, Inc.
AngelCiti to Retire Additional 29 Million Shares in Agreement with Single Largest Shareholder
PEMBROKE PINES, Fla., Aug. 15, 2003 (PRIMEZONE) -- AngelCiti Entertainment, Inc. (OTCBB:AGLC) announced that effective September 4, 2003, it has completed an agreement with its single largest shareholder, Omega Ventures, pursuant to which Omega will return an additional 29 million common shares to treasury in exchange for 2,000 Preferred "Series A" shares, created by the Company. The Series "A" shares, are solely voting shares at 5,000 votes per share, and are not transferable into common shares of the Company. This reduces the company's issued and outstanding common shares to approximately 41 million shares. Based upon Company guidance for next year and the share retirement, the Company is currently only trading at approximately 4.25 times next year's projected earnings.
Advanced Lighting Technologies, Inc
Advanced Lighting Technologies Files Amended Plan in Voluntary Chapter 11 Reorganization Proceedings
SOLON, Ohio, Aug. 15, 2003 (PRIMEZONE) -- Advanced Lighting Technologies, Inc. ("ADLT") (OTCBB:ADLTQ) announced today that it has filed an amended joint plan of reorganization with the US Bankruptcy Court for the Northern District of Illinois, Eastern Division. The amended disclosure statement and other definitive documents have not yet been completed or filed with the Bankruptcy Court. Both the amended plan and, when filed, the disclosure statement are subject to revisions by the Debtors before the applicable hearing dates and are subject to review and approval by the court. The Debtors can give no assurance that the proposed plan will be approved by the Bankruptcy Court, that the plan will receive the required approvals of the creditors and, if necessary, equity securityholders of the Debtors, or that the Debtors will be able to implement the proposed plan.
Stockwinners.com Option Portfolio Doubles; Momentum Plays Up Nineteen Percent
AUSTIN, Texas, August 15, 2003 (PRIMEZONE) -- The following is an investment opinion issued by Stockwinners.com. Selections featured in recent Stockwinners.com http://www.STOCKWINNERS.com Option Picks postings registered an average short-term gain of 115 percent. In the three months ending August 8th, the equities research firm addressed the upward price potential of 256 publicly traded stock options. On average, the entire group was up 115 percent in ten days. The postings included one hundred sixty-six calls and ninety puts.