latest news releases from the newsroom
Scientific Industries Reports 30% Increase in Fiscal 2005 Six Month Net Income
BOHEMIA, N.Y., Feb. 14, 2005 (PRIMEZONE) -- Scientific Industries, Inc. (OTCBB:SCND) reported today for the six months ended December 31, 2004, unaudited net income of $119,400, a $28,700 (31.6%) increase over $90,700 for the same period last year. Unaudited earnings per share increased to $.12 per basic share ($.11 per diluted share), compared to $.09 per share (basic and diluted) for the same period last year. The increase was primarily due to lower selling and research and development expenses.
Capital Research Group, Inc
TheSUBWAY.com Issues Correction For Gateway Distributors Ltd. -- GAWD
WESTON, Fla., Feb. 14, 2005 (PRIMEZONE) -- TheSUBWAY.com issues correction for previous press releases concerning Gateway Distributors Ltd. (OTCBB:GAWD) dated February 8, 2005, February 1, 2005, and January 28, 2005. Due to a server malfunction, press releases from TheSUBWAY.com incorrectly converted in its disclosure the amount of compensation currently received from Gateway Distributors Ltd. as fifty thousand shares. The correct amount should have read fifty thousand dollars. The problem has been resolved, and all further releases should display the corrected amount. The full corrected disclosure is noted below:
VillageEDOCS Announces Conversion to Equity of $3.68M in Notes Payable
TUSTIN, Calif., Feb. 14, 2005 (PRIMEZONE) -- VillageEDOCS (OTCBB:VEDO) (www.villageedocs.com) announced today that on February 10, 2005, holders of $3,682,609 in convertible secured promissory notes payable and accrued interest thereon (the "Note Holders") converted the outstanding principal and interest amount of their notes to 40,332,669 shares of VillageEDOCS restricted common stock. The amount of debt converted represents approximately 60% of the Company's notes payable debt, and will result in changing the previously reported stockholders' deficit on the Company's balance sheet to stockholders' equity. In addition, the conversion of the notes will reduce 2005 interest expense by approximately $255,000, assuming the notes would otherwise have remained outstanding throughout all of 2005. Following the conversion, the amount owed by VillageEDOCS to the Note Holders pursuant to convertible promissory notes payable has decreased to $1,000,000 in unpaid principal and approximately $44,000 in unpaid interest.
Film & Music Entertainment
Film and Music Entertainment Announces SEC Form 10SB Filing
HOLLYWOOD, Feb. 14, 2005 (PRIMEZONE) -- Film and Music Entertainment, Inc. (Pink Sheets:FLME), a publicly traded Hollywood-based independent film producer and distributor, announced it filed Form 10-SB with the Securities and Exchange Commission today and is seeking to become an SEC-registered company under Section 12 of the 1934 Act. A copy of the filing can be viewed at www.sec.gov in the Company Filings section of the SEC webpage. A copy of the filing is also available on the company's web site, www.famefilm.com.
S3 Investment Company, Inc.
S3 Investment Company Announces Market Conference Call with CEO to Discuss Upcoming Quarterly Report
TEMECULA, Calif., Feb. 14, 2005 (PRIMEZONE) -- S3 Investment Company (OTCBB:SEIH) today announced that it has scheduled a market conference call on Wednesday, February 16, 2005 at 12:00 P.M. (noon) E.S.T., in which Chairman and Chief Executive Officer Chris Bickel will discuss the Company's 10-Q Quarterly Report with financial results that is expected to be filed today. Those interested in participating should call (913) 981-4902 or 1-800-811-7286 five to ten minutes prior to the scheduled start time and reference S3 Investment Company.