latest news releases from the newsroom
Verso Technologies, Inc.
Verso Announces Agreement to Defer Debt Payment
ATLANTA, Feb. 19, 2008 (PRIME NEWSWIRE) -- Verso Technologies, Inc (Nasdaq:VRSO), a global provider of next generation networks, announced today that it entered into an amendment to its Loan and Security Agreement with Clarent Corporation on February 15, 2008 to extend by six months the due date of the final amounts owed to Clarent. The amendment is subject to the approval of the court having jurisdiction over the Clarent estate, and the payment of the outstanding accrued interest of approximately $730,000 which Verso intends to pay by March 3, 2008.
Orion Energy Systems, Inc.
SYSCO Honors Orion as Outstanding Supplier
MANITOWOC, Wis., Feb. 19, 2008 (PRIME NEWSWIRE) -- Orion Energy Systems (Nasdaq:OESX) has been named SYSCO Corporation's 'Supplier of the Year - Facilities' on a vote cast by SYSCO's broadline distribution companies in the United States and Canada. During the past few years, Orion installed its Phase I energy-efficient lighting, which reduces lighting costs by approximately 50% or more, in 54 out of 170 Sysco facilities. Recently, the company began integrating Orion's Phase II and III - InteLite Controls and Apollo Light Pipes - into the Phase I systems, which further reduces energy consumption for lighting. A Fortune 100 company dealing with over 2,000 suppliers, SYSCO maintains an extensive supplier award program.