latest news releases from the newsroom
Sun New Media Inc.
Sun New Media to Acquire Focus Channel Development
DIAMOND BAR, Calif., Nov. 22, 2005 (PRIMEZONE) -- Sun New Media Inc. (OTCBB:SNMD) ("SNMI") today announced an agreement to acquire a 100% controlling interest in Focus Channel Development (HK), Ltd. ("Focus"), one of China's leading providers of internet-based software solutions for distribution channel management. Subject to certain financial milestones, the minimum and maximum total consideration for the acquisition is between 14.9 and 20.9 million shares of SNMI common stock. This strategic acquisition will enable SNMI to expand its service offerings to include both interactive marketing solutions through its existing holdings, and cutting edge logistical and technical coordination solutions.
ATA Airlines, Inc.
ATA Flight Attendants Ratify Collective Bargaining Agreement
INDIANAPOLIS, Nov. 22, 2005 (PRIMEZONE) -- ATA Airlines, Inc. (Pink Sheets:ATAHQ) announces that its flight attendants, represented by the Association of Flight Attendants (AFA), have voted to ratify a new collective bargaining agreement (CBA). The new agreement will extend wage, benefit and work rule concessions earlier ratified on Oct. 15, 2004, and will become effective Jan. 1, 2006. The collective bargaining agreement will be amendable on Oct. 31, 2008.
U.S. MedSys. Corporation
U.S. MedSys Corp. Announces Record Revenue for the First Quarter of Fiscal 2006
HASBROUCK HEIGHTS, N.J., Nov. 22, 2005 (PRIMEZONE) -- U.S. MedSys Corp. (OTCBB:UMSY) (the "company") is pleased to announce the filing of its Form 10-QSB for the first quarter of fiscal 2006, which showed continued revenue growth for the fourth straight quarter. For the first three months of fiscal 2006, the company recognized net revenue of $726,127 compared to net revenue of $106,885 for the first three months of fiscal 2005. Gross profit from operations increased to $210,834 for the first three months of fiscal 2006 compared to a gross profit of $106,885 for the first three months of fiscal 2005. Net loss for the same period increased to ($838,620) as compared to a net loss of ($833,190) for the first three months of fiscal 2005. The increased revenue represents the implementation of various new customer contracts, continued expansion of existing contracts that became revenue producing, and maintaining a relatively consistent spending pattern despite the implementation of new contracts.
Leica Geosystems, Metrology Division
Leica T-Scan Technology Used to Capture Famous Artifact from the Civil War Ironclad USS Monitor
LAWRENCEVILLE, GA., Nov. 22, 2005 (PRIMEZONE) -- The Metrology Division of Leica Geosystems today announced their newest Local Positioning technology, the Leica T-Scan product, was used for the high-precision surface data capture of a famous artifact retrieved from the Civil War ironclad USS Monitor. The historic anchor was the first major relic recovered by the National Oceanic and Atmospheric Administration (NOAA) from the Monitor National Marine Sanctuary, east of Cape Hatteras in the Atlantic Ocean. The Mariners' Museum (Newport News, VA) is home to hundreds of artifacts and archives from the Monitor.
Phlo Affiliate's AQUIS Products to be Sold By Top Medical Products Supply Company
JACKSONVILLE, Fla., Nov. 22, 2005 (PRIMEZONE) -- Phlo Corporation (Pink Sheets:PHLC) ("Phlo") announced today that the AQUIS(tm) Rapid Response Rehydration product line of one of its affiliates will be distributed by Medco Supply Company ("Medco"), one of the world's largest suppliers of medical products to athletic trainers, sports medicine professionals, physical therapists and schools. Medco will offer AQUIS(tm) for sale online within approximately 30 days and will feature AQUIS(tm) in its sports medicine catalog to be released in March 2006. Medco is a division of Patterson Companies, the world's leading distributor of rehabilitation supplies and other medical products.
Turnaround Partners, Inc.
Sagamore Holdings, Inc. Completes $1,250,000 Financing with CSI Business Finance, Inc.
HOUSTON, Nov. 22, 2005 (PRIMEZONE) -- CSI Business Finance, Inc. (OTCBB:CSIB) announced today the completion of a $1.25 million lending transaction with Sagamore Holdings, Inc. Tim Connolly, CEO of CSIBF, stated, "The purpose of this funding is to provide working capital to support Sagamore's subsidiary company, Nexus Custom Electronics." Dan Shea, board member of Sagamore and president of Nexus Electronics (a wholly owned subsidiary of Sagamore Holdings) added that "the new working capital will enable the company to expand production, complete delivery of pending purchase orders, and implement the overall restructuring of Nexus. The initial funding of $440,000 has already occurred, and we are confident we can meet the deliverable requirements of the remaining $810,000."
Smart-tek Solutions Inc.
Smart-tek Awarded $250,000 Contract
CORTE MADERA, Calif., Nov. 22, 2005 (PRIMEZONE) -- Smart-tek Solutions, Inc. (OTCBB:STTK) announced today that its operating subsidiary, Smart-tek Communications Inc. ("SCI"), has been awarded the security, voice and data contract for the CIELO project. The value of the contract is in excess of $250,000.00.