latest news releases from the newsroom
Decorize, Inc. Secures Financing and Converts Debt
SPRINGFIELD, Mo., May 12, 2006 (PRIMEZONE) -- Decorize, Inc. (AMEX:DCZ), a leading supplier and manufacturer of home accents, announced today that they have entered into an agreement securing a revolving line of credit of up to $750,000. Quest Commercial Finance, LLC will provide the line of credit which will be used for production expansion and marketing initiatives. The Company is experiencing an explosive increase in demand for its products which exceeds its current production capacity. With the additional capital the Company will double its production output. Steve Crowder, President and Chief Executive Officer commented, "We anticipate the increased production capacity combined with the dramatic rise in customer demand will position our Company to generate positive financial results in its fiscal year beginning July 1, 2006."
Eternal Energy Corp.
Eternal Energy Corp. Raises $404,000 in Third Closing of Private Placement
LITTLETON, Colo., May 12, 2006 (PRIMEZONE) -- Eternal Energy Corp. (OTCBB:EERG) announced that it raised approximately $404,000 of financing in the second closing of a private placement from issuance of its common stock and warrants to purchase common stock to accredited investors. The third closing occurred on May 8, 2006. In connection with the third closing, Eternal Energy issued 808,000 units of common stock and common stock purchase warrants, with each unit consisting of one share of its common stock and warrant to purchase one share of its common stock, at a per unit purchase price of $0.50. The warrants have an exercise period of two years and an exercise price of $1.00 per share. The warrants will be exercisable in cash, representing potential additional proceeds of $808,000, assuming the warrants are fully exercised in cash. The warrants also provide for cashless exercise under certain circumstances.
Michelex Corp. Continues to Make Progress
MASSENA, N.Y., May 12, 2006 (PRIMEZONE) -- Michelex Corp. (Pink Sheets:MLXO) "Michelex" (or the "Company"), a plastic manufacturing company and an audio record production group, announced today that it was successful in carrying out the first part of the agreement with Wells Fargo Business Credit and has paid them $1,025,000.00. Michelex is on schedule to complete the second part of the agreement to satisfy the remaining debt in the sum of $1,400,000.00 to Wells Fargo Business Credit before the August 31, 2006 deadline. Michelex anticipates finalizing this payment much before the deadline. This will result in a net gain for Michelex in the sum of $633,684.18.
Northrop Grumman Corp.
Northrop Grumman to Webcast Annual Shareholders Meeting
LOS ANGELES -- May 12, 2006 -- Northrop Grumman Corporation (NYSE:NOC) will conduct its annual shareholders meeting on Wednesday, May 17, 2006. The meeting, which includes a presentation by Ronald D. Sugar, Northrop Grumman chairman, chief executive officer and president, will be webcast beginning at 10 a.m. PDT at www.northropgrumman.com. An audio replay will be available for two weeks. During the presentation, the company will confirm financial guidance provided on April 25, 2006.
San Diego Gas & Electric
SDG&E Earns 'Climate Action Leader' Distinction From California Environmental Registry
SAN DIEGO, May 12, 2006 (PRIMEZONE) -- San Diego Gas & Electric Co. (SDG&E) has successfully certified its greenhouse gas (GHG) emissions inventory with the California Climate Action Registry, earning the status of "Climate Action Leader." In doing so, SDG&E has joined a distinguished group of organizations demonstrating leadership by publicly and voluntarily reporting its GHG emissions from the generation and distribution of natural gas and electricity under this rigorous registry program.
SouthCrest Financial Group, Inc.
SouthCrest Financial Group, Inc. Announces First Quarter Earnings
FAYETTEVILLE, Ga., May 12, 2006 (PRIMEZONE) -- SouthCrest Financial Group, Inc. (OTCBB:SCSG) reported net income of $1,406,000 for the quarter ended March 31, 2006 compared to $819,000 for the same quarter a year ago. On a per share basis, results were $0.39 per share for the current quarter compared to $0.23 for the same period a year ago.