latest news releases from the newsroom
Horizon Offshore Inc.
Horizon Offshore Issues Update
HOUSTON, Jan. 29, 2004 (PRIMEZONE) -- Horizon Offshore, Inc. (Nasdaq:HOFF) today announced that due to its inability to collect any of its outstanding claims against Pemex or obtain financing on acceptable terms with an institutional lender prior to January 31, 2004 it has reached agreement with the lenders on two of its existing revolving credit facilities to amend its loan agreements. These amendments remove a condition that would have reduced its borrowing capacity under these agreements from an aggregate of $50 million to $20 million on January 31, 2004. As of January 28, 2004, $50 million was outstanding under these revolving credit facilities. Each of these facilities mature on April 3, 2004. Horizon is currently pursuing additional debt and equity sources of financing to replace these facilities prior to their maturity and to reach long-term agreements with the lenders on all of its credit facilities. If Horizon does not obtain long term financing on acceptable terms and does not collect on its Pemex claims prior to April 3, 2004, it will need to obtain another extension from the lenders on the revolving credit facilities mentioned above.
PoGo Products Ltd.
PoGo! Products Launches New 30GB HDD MP3/WMA Recorder
BREA, Calif., Jan. 29, 2004 (PRIMEZONE) -- PoGo! Products, Ltd. (OTCBB:PGOI), a leader in portable digital audio (MP3) technology and cutting-edge personal electronic products for the consumer and businesses, today announced their Hard Disk Drive product, The RipDrive(tm). Another innovative product from PoGo! Products.
MSSI-TeleScience International Inc.
MSSI-TeleScience International Announces New Executive Appointment
VIENNA, Va., Jan. 29,2004 (PRIMEZONE) -- MSSI-TeleScience International Inc., (OTCBB:MSSI), a provider of medical personnel, homeland security products and technology services to federal, state and local government agencies, announced today that it has hired Ms. Reeba Magulick to lead the newly-formed commercial unit within its Medical Systems division. The new unit will provide medical professionals to private sector hospitals, clinics, nursing homes, and other health care facilities. The Company has made entry in this new sector a priority for 2004 and is currently studying the acquisition of several private companies currently serving this market.