latest news releases from the newsroom
FreeStar Technology Corp.
FreeStar Technology Corporation Announces Quarterly Sales of $1.3 Million, Record Growth of 193 Percent
DUBLIN, Nov. 20, 2007 (PRIME NEWSWIRE) -- FreeStar Technology Corp. (OTCBB:FSRT) today said the Company has achieved record revenues for the first quarter of its fiscal year. Revenue for the three months ended September 30, 2007 was $1,354,495, which is an increase of 193% over revenues of $461,860 reported for the three months ended September 30, 2006. The Company processed a total of 5,125,674 transactions during the current quarter, an increase of 207,721 or 4.2% compared to 4,917,953 transactions processed during comparable quarter of the prior year. FreeStar's revenue consisted of transaction processing and related services of $487,723; consulting services provided by the Company's subsidiary, Project Life Cycle Partners, Ltd., of $605,977; and hardware sales and related revenue of $260,795. During the prior year quarter ended September 30, 2006, all of FreeStar's revenue of $461,860 was attributable to transaction processing and related services.
Industrial Enterprises of America, Inc.
Industrial Enterprises Reaches Operational Milestone
NEW YORK, Nov. 20, 2007 (PRIME NEWSWIRE) -- Industrial Enterprises of America, Inc. (Nasdaq:IEAM) announced today that under the leadership of President Dan Redmond, Industrial Enterprises of America reached an important operational milestone. During the week of November 5, 2007, the Company's Pitt Penn facility shipped approximately $1 million of finished goods and reported 100 percent on-time shipping.
Hybrid Coating Technologies Inc.
EPOD Signs a Reorganization Agreement
RENO, Nev., Nov. 20, 2007 (PRIME NEWSWIRE) -- EPOD International Inc. (the "Company," "EPOD") (Pink Sheets:EPOI) (Frankfurt:EDU), a vertically-integrated, solar power utility and electric power systems provider, has signed a reorganization agreement with a newly formed British Columbia, Canada based company, 0805047 B.C. Ltd. ("B.C. Co"). Pursuant to the Agreement, substantially all of the assets of EPOD will be transferred to B.C. Co and all EPOD shares will be exchanged for or replaced with B.C. Co shares on a one for one basis, subject to amendment as agreed among the parties prior to closing. The existing shareholders of EPOD will receive, in replacement for their shares of EPOD, an identical proportion of the outstanding shares of B.C. Co as they hold in EPOD after the closing of the transaction.
LogMeIn Adds Advanced Remote Backup Capabilities for IT Service Providers
WOBURN, Mass., Nov. 20, 2007 (PRIME NEWSWIRE) -- LogMeIn, Inc. today announced new features for its remote backup solution for IT professionals supporting small and medium sized organizations. LogMeIn Backup includes the ability to import or export storage sets, pause and resume backup sessions, and only back up differentials on large datasets -- significantly reducing backup time and storage space.
Cree's New Green XLamp XR-E LEDs are 70 Percent Brighter
DURHAM, N.C., Nov. 20, 2007 (PRIME NEWSWIRE) -- Cree, Inc. (Nasdaq:CREE), a market leader in LED solid-state lighting components, today announced commercial availability of green XLamp(r) XR-E LEDs that are 70-percent brighter than the company's previous green power LEDs. The new green XR-E produces maximum luminous flux of 87.5 lumens at 350 mA. The new green XR-E LEDs complement the previously released blue XR-E LEDs for industry-leading performance in RGB LED applications.
Warren Resources, Inc.
Warren Resources Announces $250,000,000 Credit Agreement
NEW YORK, Nov. 20, 2007 (PRIME NEWSWIRE) -- Warren Resources, Inc. (Nasdaq:WRES), a growing oil and gas exploration and development company, today announced that effective as of November 19, 2007 it entered into a five-year, $250,000,000 Amended and Restated Credit Agreement with Merrill Lynch Capital, a Division of Merrill Lynch Business Financial Services Inc., as Administrative Agent (the "Agent"), on behalf of a syndicate of five (5) participating banks, with Warren Resources of California, Inc. and Warren E&P, Inc., as Guarantors (the "Credit Facility"). The Credit Facility provides for a revolving credit line up to the lesser of (i) $250 million, (ii) the Borrowing Base, plus a $15 million over-advance, and (iii) the Draw Limit requested by the Company. The Credit Facility matures on November 19, 2012. It is secured by substantially all of our assets and is guaranteed by the Guarantors, which are two of our wholly-owned subsidiaries.