latest news releases from the newsroom
Ship Finance International Limited
Ship Finance International Limited -- Termination of Consafe Agreement
HAMILTON, Norway, March 17, 2006 (PRIMEZONE) -- January 8 2006, a Heads of Agreement concerning a sale and lease back deal was signed between Ship Finance International Limited (SFL) and Consafe Offshore AB (publ) (Consafe), where SFL should purchase Safe Concordia at a price of USD 185 million and Consafe should charter the vessel back on a 30 years period. In addition to an agreed day rate, the agreement included a Profit Sharing clause giving SFL a 17.5 percent profit sharing after relevant cost had been deducted.
American Southwest Music Distribution, Inc.
GL Energy & Exploration Completes Acquisition of American Southwest Music Distribution
HOLLYWOOD, Calif., March 16, 2006 (PRIMEZONE) -- GL Energy & Exploration, Inc. (OTCBB:GEEX) announced today that it has completed the acquisition of American Southwest Music Distribution, Inc. pursuant to a voluntary stock exchange between the Company and the stockholders of American. Pursuant to the definitive agreement, the Company issued 22,500,000 shares of its common stock and 23,980 shares of its series A convertible preferred stock to David Michery and Kent Puckett, the owners of American. Messrs. Michery and Puckett are currently officers and directors of the Company, positions they have held since October 2004 in connection with the Company's entering into the Merger Agreement with American in October 2004. The Merger Agreement was never consummated and subsequently terminated.
Suntron Corporation Reports Fourth Quarter and 2005 Year End Results
PHOENIX, March 16, 2006 (PRIMEZONE) -- Suntron Corporation (Nasdaq:SUNN), a leading provider of integrated electronics manufacturing solutions, today reported revenue of $83.9 million and net income of $0.1 million for the fourth quarter of 2005. Revenues for the quarter increased 4.4% over the third quarter of 2005, in line with management's previous outlook and the Company returned to profitability during the quarter.
Abbey Spanier Rodd & Abrams, LLP
Abbey Gardy, LLP Announces Name Change to Abbey Spanier Rodd Abrams & Paradis, LLP
NEW YORK, March 16, 2006 (PRIMEZONE) -- Abbey Gardy, LLP has changed its name to ABBEY SPANIER RODD ABRAMS & PARADIS, LLP. The name change is effective as of March 1, 2006. The firm, founded by Arthur N. Abbey in 1964, is one of the oldest class action litigation firms in the United States. The firm's practice concentrates on complex and class action litigation representing individuals and institutional investors in the fields of securities fraud, corporate governance, shareholder rights, antitrust, consumer rights and unfair employment practices.
Renewable Energy Resources, Inc.
Internal Hydro International to License Solid Waste Remediation Technology from EarthFirst Subsidiary, WESCO
TAMPA, Fla., March 16, 2006 (PRIMEZONE) -- Internal Hydro International Inc. (OTCBB:IHDR) (www.InternalHydro.com) today announced that it has entered into a second area of alternative energy and waste recycling to add to its superior small hydro technologies, soon to be commercially available. Specifically, IHDR announced it has entered into a Letter of Intent with World Environmental Solutions Company, Inc. (WESCO), a wholly-owned subsidiary of EarthFirst Technologies, Incorporated (OTCBB:EFTI), to purchase WESCO's Catalytic Activated Vacuum Distillation (CAVD) waste tire and solid waste remediation plant currently in operation in Mobile, Alabama for total consideration of $2 million. Based on forecasted output by WESCO, each plant is expected to generate up to $2.5 million in profit per year. Collectively, this represents up to $50 million in potential annual profits for IHDR following development of all 20 plants.