latest news releases from the newsroom
Worldwide Radio Network
Recovery Radio to Feature Sexual Addiction on Next Weekly Broadcast Saturday Night
LOS ANGELES, June 24, 2005 (PRIMEZONE) -- Worldwide Radio Network's weekly call-in Recovery Radio Show and its three co-hosts will place a special focus on sexual addictions Saturday night during its regularly scheduled live broadcasts to Los Angeles, Phoenix and Las Vegas, network officials reported today. Carried on the ABC Satellite network, the show also can be heard via the Internet at www.recoveryradioshow.com
Credit Acceptance Corporation
Credit Acceptance Announces Change in Accounting for Loan Portfolio and Dismissal of Independent Registered Public Accounting Firm
SOUTHFIELD, Mich., June 24, 2005 (PRIMEZONE) -- Credit Acceptance Corporation (Nasdaq:CACCE) announced today that it has received a response to its request that the SEC's Office of the Chief Accountant review the Company's accounting policies. In a teleconference earlier today, the SEC informed the Company that the Company's method for recording automobile loans should be changed to that of a servicer of loans generated by automobile dealers and a lender to those dealers, rather than an originator of consumer loans. As a result of this determination, the Company will be required to restate its previously reported financial results.
Imagis Announces Option Grants
VANCOUVER, British Columbia, June 24, 2005 (PRIMEZONE) -- Imagis Technologies Inc. ("Imagis") (OTCBB:IMTIF) (TSX-V:WSI) (DE:IGYA) announced today that as part of its company-wide annual option allocation review, it has granted a total of 1,445,000 options to officers and directors of the Company at an exercise price of $0.79 with an expiry date of June 24, 2008. One-third of these options will vest immediately, one third will vest one year from the date of grant, and the final third will vest two years from the date of grant.
Friendly Energy Corporation
Friendly Energy Subsidiary Begins Prospect Development
CARSON CITY, Nev., June 24, 2005 (PRIMEZONE) -- Friendly Energy Corporation. (Pink Sheets:FDEG) announces today that its wholly owned subsidiary Friendly Energy Services Inc. through its letter agreement with Mr. Ray Suhm of Oklahoma, has nearly completed the process of identifying several central Oklahoma prospects for development.
AmeriChip International, Inc.
AmeriChip International Inc. Provides Update
PLYMOUTH, Mich., June 24, 2005 (PRIMEZONE) -- The Board of Directors of AmeriChip International Inc. (OTCBB:ACHI) announced that AmeriChip plans to enter into a license agreement with KSI Machine & Engineering, Inc. for the use of AmeriChip's Laser Assisted Chip Control technology. The Company's laser and robot delivered to the KSI facility is now operational. KSI and AmeriChip are also negotiating a joint venture relationship, from which AmeriChip will generate revenues from the application of its proprietary technology in a Tier One environment.
Universal Stainless & Alloy Products, Inc.
Universal Stainless Announces Amendment of PNC Credit Agreement
BRIDGEVILLE, Pa., June 24, 2005 (PRIMEZONE) -- Universal Stainless & Alloy Products, Inc. (Nasdaq:USAP) announced today that it has amended its credit agreement with PNC Bank, which consists of a PNC Term Loan and a PNC Revolving Line of Credit. Under the Third Amended and Restated Credit Agreement, the Company is replacing the existing term loan, which has a principal balance of $1.95 million, with a new $10.0 million term loan. The revolving credit line remains at $15 million.