latest news releases from the newsroom
Holloman Energy Corporation
Holloman Energy Reports First Quarter Results
HOUSTON, May 16, 2008 (PRIME NEWSWIRE) -- Holloman Energy Corporation (OTCBB:HENC) ("HENC") filed first quarter 2008 financial results today. Although HENC did not generate any revenues during the three months ended March 31, 2008, HENC reported a one-time gain of $784,000 on the divestiture of its Canadian assets, resulting in net income of $557,000 ($0.01 per share).
Vision Global Solutions Inc.
Vision Global Solutions, Inc. and Fortes Financial, Inc. Announce Agreement to Merge
LAGUNA HILLS, Calif., May 16, 2008 (PRIME NEWSWIRE) -- Vision Global Solutions, Inc. (Pink Sheets:VIGS) and Fortes Financial, Inc. ("Fortes") announced today that they have entered into a definitive merger agreement pursuant to which VGS Acquisition Corp., a wholly-owned Delaware subsidiary corporation of VIGS, shall merge with and into Fortes, with Fortes continuing as the surviving company (the "Merger"). Thereafter, Fortes shall operate as a wholly-owned subsidiary corporation of VIGS. In the Merger, each outstanding share of Fortes Common Stock, Series A Preferred Stock, Series B Preferred Stock or Series C Preferred Stock shall be converted, respectively, into one share of VIGS Common Stock, Series A Preferred Stock, Series B Preferred Stock, or Series C Preferred Stock. Immediately thereafter, the outstanding Series A Preferred Stock and Series B Preferred Stock will be converted into Common stock of VIGS. All outstanding warrants and options of Fortes shall be exchanged and converted into warrants of VIGS on equal terms. The shares of VIGS Class A Common Stock currently outstanding will remain outstanding and will be unchanged as VIGS Common Stock in the Merger. Prior to the closing of the Merger, VIGS shall change its name to "Fortes Financial, Inc." and, upon the closing of the Merger, nominees of Fortes shall assume control of VIGS' board of directors.