latest news releases from the newsroom
Pro Elite, Inc.
Pro Elite, Inc Acquires Real Sports, Inc.
SANTA MONICA, Calif., Oct. 9, 2006 (PRIMEZONE) -- Pro Elite, Inc. (Pink Sheets:PELE) announced today the acquisition of Real Sport, Inc. through an exchange of stock (reverse merger) with the shareholders of Real Sport, Inc. Concurrently with the closing of the reverse merger, Pro Elite, Inc. (the "Company") raised $10 million in gross proceeds from institutional investors in a private placement of units. Each unit consisted of 1,500 shares of common stock and one three-year warrant to purchase 500 shares of common stock with an exercise price of $.004 per share. The purchase price of a unit was $3.00. Hunter World Markets, Inc. of Beverly Hills, Calif., acted as the Company's sole placement agent. After giving effect to the private placement and the Reverse Merger, the investors in the private placement received approximately 27% of the outstanding stock of Pro Elite, Inc., and the shareholders of Real Sport, Inc. received approximately 66% of the outstanding stock (prior to any shares of common stock issuable upon exercise of outstanding warrants and options).
Aleratec Announces Price Reductions for Its LightScribe Publishing Systems
CHATSWORTH, Calif., Oct. 9, 2006 (PRIMEZONE) -- Aleratec, a leading developer and manufacturer of "Prosumers' Choice" USB, DVD/CD duplicating, and DVD/CD publishing solutions is pleased to announce price reductions of up to 45% on its LightScribe Disc Publishing Systems. Overwhelming market successes have resulted in economies of scale cost reductions and Aleratec now offers its award winning LightScribe products at a fraction of earlier pricing, which was already offered at a much lower cost than competing technologies. These successes are a result of the right product at the right time and are driven by broad Aleratec availability at hundreds of Best Buy locations nationwide as well as other leading in store and online resellers.
CDMA Development Group
CDMA2000 Boosts Presence In Central Asia to Address the Region's Rapid Wireless Telecommunications Expansion
COSTA MESA, Calif., Oct. 9, 2006 (PRIMEZONE) -- The CDMA Development Group (CDG) (www.cdg.org) today announced that CDMA2000(r) is showing strong growth across Central Asia. Up to 23 CDMA2000 operators are bridging the digital divide in countries such as Azerbaijan, Pakistan, and Uzbekistan by offering affordable voice and broadband data access to millions of users in both urban and rural areas. These operators have been able to sustain average revenue per user (ARPU) that is above the industry average, while providing areas that have limited purchasing power with affordable voice and value added data services.
O2Micro International Limited
O2Micro Receives Major DC Power Source Patent
GEORGE TOWN, Grand Cayman, Oct. 9, 2006 (PRIMEZONE) -- O2Micro(r) International Limited (Nasdaq:OIIM) (SEHK:0457), a leading supplier of innovative power management, and security components and systems, was granted 19 claims under United States patent number 7,095,217 for its Variable Output Direct Current (DC) Power Source control invention.
Asiamart Raises $3 Million in Private Placement
NEW YORK, Oct. 9, 2006 (PRIMEZONE) -- Asiamart, incorporated as WT Holdings Corporation (OTCBB:WTHD), announced today that on Friday, October 6, 2006, it completed a private placement of senior convertible debentures and warrants to institutional and accredited investors resulting in total gross proceeds of approximately $3 million. Maxim Group LLC acted as the lead placement agent with Chardan Capital Markets LLC as the co-placement agent in the financing.
Cornell Companies, Inc.
Cornell Companies Enters Into Merger Agreement With Veritas Capital
HOUSTON, Oct. 9, 2006 (PRIMEZONE) -- Cornell Companies, Inc. (NYSE:CRN) announced today the execution of a definitive merger agreement with Veritas Capital, under which Veritas will acquire Cornell in a transaction valued at approximately $518.6 million, including the assumption or repayment of approximately $273.6 million in debt. Under the terms of the agreement, Cornell stockholders will receive $18.25 in cash for each share of common stock they hold.