latest news releases from the newsroom
Mission Oaks National Bank
Mission Oaks Gets Preferred Lending Status
TEMECULA, Calif., June 3, 2003 (PRIMEZONE) -- Mission Oaks National Bank (OTCBB:MKNB) announced it was granted Preferred Lending status by the U.S. Small Business Administration, a coveted designation that will allow it to simplify and expedite loans to small businesses.
Advanced Lighting Technologies, Inc
Advanced Lighting Technologies, Inc. Reaches Agreement in Principle with Creditors Committee and General Electric Company in Voluntary Chapter 11 Reorganization Proceedings; Would Become Privately Held
SOLON, Ohio, June 3, 2003 (PRIMEZONE) -- Advanced Lighting Technologies, Inc. ("ADLT") (OTCBB:ADLQE) announced today that it has reached an agreement in principle with the Official Committee of Unsecured Creditors (the "Creditors Committee") and General Electric Company ("GE") on the principal terms for an amended joint plan of reorganization to be filed with the US Bankruptcy Court for the Northern District of Illinois, Eastern Division. The amended plan, amended disclosure statement and other definitive documents have not yet been completed or filed with the Bankruptcy Court. When filed, both the amended plan and 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.
Sonoran Energy, Inc.
Sonoran Energy: Third Party Geologic Review Identifies Additional 640,000 Barrels of Production
LOS ANGELES, June 3, 2003 (PRIMEZONE) -- Sonoran Energy, Inc. (OTCBB:SNRN) announced today the results of a 3rd party geologic review commissioned by the Company and operating partner Longbow LLC on the Emjayco Glide #33 Property holdings. The results of the geologic review conducted by a California Registered Geologist, indicate that the Pyramid Hill Sands -- located above the producing reservoirs on the 160-acre leasehold in the Mount Poso Oil Field -- are untapped and new well locations are needed to produce an additional 640,000 barrels of proved undeveloped (PUD) reserves.