latest news releases from the newsroom
Amplidyne, Inc. Enters Into Agreement to Repay Debt and Appoints a New Chief Executive Officer
RARITAN, N.J., July 21, 2005 (PRIMEZONE) -- Amplidyne, Inc. (OTCBB:AMPD) announced that it has entered into an agreement with John Chase Lee, one of the Company's directors, whereby the Company issued 130,000 shares of Series C preferred stock, $.0001 par value to Mr. Lee in satisfaction of loans made by Mr. Lee to the Company totaling $650,000. Under the terms of the Agreement, the Registrant will (a) amend the Certificate of Designations for the Series C preferred stock to provide for a conversion rate of 100 shares of the Registrant's common stock for every one Series C share, among other changes; and (b) amend the Certificate of Incorporation, subject to shareholder approval, to increase the authorized shares of common and preferred stock in order to provide a sufficient amount of authorized stock to effect the conversion of the Series C shares held by Mr. Lee. Subsequent to these corporate actions, Mr. Lee's Series C shares will be convertible into 13,000,000 shares of common stock.
Ocwen Financial Corp.
Ocwen Financial Corporation Schedules Conference Call - 2nd Quarter 2005 Results
WEST PALM BEACH, Fla., July 21, 2005 (PRIMEZONE) -- Ocwen Financial Corporation (NYSE:OCN) will hold its conference call on Thursday, July 28, 2005, at 4:00 p.m. (ET), to review the Company's operating results. These events will follow Ocwen's 2nd Quarter 2005 earnings release. The press release will also be available on the Ocwen Financial Corporation Shareholder Relations website at www.ocwen.com.
Y-Tel International, Inc.
Y-Tel Completes Installation of a Redundant VoIP Network Between Miami, Florida and Dallas, Texas
MIAMI, July 21, 2005 (PRIMEZONE) -- Y-Tel International, Inc. (OTCBB:YTLI), a provider of telecommunications, VoIP and Wi-Fi services and devices, today announced it has completed the Installation of their VoIP telecommunications network by installing and connecting 2 major hubs in Miami, Florida and Dallas, Texas.
Essential Innovations Technology Corp.
Essential Innovations Technology Canadian Subsidiary Executes International Exclusive Distribution Agreement
BELLINGHAM, Wash., July 21, 2005 (PRIMEZONE) -- Essential Innovations Technology Corp. (OTCBB:ESIV) is pleased to announce that the Company's Canadian subsidiary has recently signed and secured an exclusive technology distribution agreement covering the entire Country of Mexico, with Global Business Exchange ("GBX"), a British Columbia corporation, with offices in Vancouver, Canada, and Guadalajara, Mexico. The Agreement calls for specific target quotas to be met for annual contract renewal, with the Year 1 purchase requirement being for 200 units minimum in order to secure contract renewal, and each pursuant year to then require a 25% increase in the annual purchase quota from the Year previous. Additionally, Global Business Exchange has retained the first right of refusal for the entirety of Central America under the Agreement.