latest news releases from the newsroom
Suncrest Global Energy Corp.
Suncrest Global Energy Corp. Completes Share Exchange With Beacon Enterprise Solutions Group, Inc.
LOUISVILLE, Ky. and COLUMBUS, Ohio, Dec. 28, 2007 (PRIME NEWSWIRE) -- Suncrest Global Energy Corp. (OTCBB:SGEG) today announced that it has entered into a share exchange with Beacon Enterprise Solutions Group, Inc. (website: www.askbeacon.com). The transaction closed on December 20, 2007. Under the terms of the transaction, the shareholders of Beacon received 9,491,900 shares of Suncrest common stock, constituting a majority of Suncrest's 10,468,021 outstanding common shares as of the closing date, in exchange for 100% of the outstanding common shares of Beacon. After the share exchange, Beacon's officers assumed management control of the Company. Immediately prior to the closing of the transaction with Suncrest, Beacon completed the acquisition of the following IT/Telecom businesses: Advance Data Systems, Inc., d/b/a ADSnetcurve, Louisville, KY; CETCON Incorporated, Cincinnati, OH; Strategic Communications, LLC, Louisville, KY and; Bell-Haun Systems, Inc., Columbus, OH (the "Initial Acquisitions"). These businesses have operating histories ranging from 11 to 30 years. Additional transaction details have been filed with the Securities and Exchange Commission on Schedule 14F-1 and Form 8-K. The Company intends to change its name to Beacon Enterprise Solutions Group, Inc.
Peoples Bancorp Announces Plan to End SEC Reporting and NASDAQ Listing
AUBURN, Ind., Dec. 28, 2007 (PRIME NEWSWIRE) -- Peoples Bancorp ("Peoples") announced today that its Board of Directors has approved a plan to end the Corporation's obligation to file reports with the Securities and Exchange Commission (the "SEC"). This would be accomplished through a 1-for-760 reverse split of Peoples' common stock to be followed immediately by a 760-for-1 forward split. In the split transaction, shareholders with fewer than 760 shares of Peoples common stock held of record in their name immediately before the split transaction will receive a cash payment equal to $16.75 per pre-split share. Shareholders holding 760 or more shares of Peoples common stock immediately before the split transaction will not receive a cash payment and will continue to hold the same number of shares after completion of the split transaction.
Superior Offshore International, Inc.
Superior Offshore International Cancels Ocean Flow Acquisition, Settles Toisa Puma Charter Dispute
HOUSTON, Dec. 28, 2007 (PRIME NEWSWIRE) -- Superior Offshore International, Inc. (Nasdaq:DEEP) today announced that it has jointly agreed with Ocean Flow International L.L.C. to cancel a definitive merger agreement between the two companies. Ocean Flow is a privately held deepwater subsea project engineering and offshore project management services firm.
Verso Technologies, Inc.
Verso Receives Notice From NASDAQ
ATLANTA, Dec. 28, 2007 (PRIME NEWSWIRE) -- Verso Technologies, Inc. (Nasdaq:VRSO), a global provider of next generation network solutions, announced that, on December 27, 2007, the Nasdaq Stock Market notified the company that it has not regained compliance with the $1.00 minimum bid price requirement for continued listing set forth in NASDAQ Marketplace Rule 4310(c)(4) during the initial 180-day period ended December 24, 2007, granted by the NASDAQ to the company in which to regain such compliance. However, NASDAQ noted that on December 24, 2007, the company met all initial inclusion criteria for the Capital Market set forth in NASDAQ Marketplace Rule 4310(c) (except for the bid price requirement) and, therefore, in accordance with NASDAQ Marketplace Rule 4310(c)(8)(D), the company will be provided an additional 180-day period, or until June 24, 2008, to regain such compliance.
Elizabeth Arden, Inc.
Elizabeth Arden, Inc. to Present At the CJS Securities 8th Annual Investor Conference
NEW YORK, Dec. 28, 2007 (PRIME NEWSWIRE) -- Elizabeth Arden, Inc. (Nasdaq:RDEN), a global prestige beauty products company, today announced that the Company will be presenting at the Eighth Annual CJS Securities "New Ideas for the Year" Investor Conference on Wednesday, January 9, 2008. Scott Beattie, Chairman, President and Chief Executive Officer and Marcey Becker, Senior Vice President, Finance will host the presentation providing an overview of the Company's business and strategic initiatives.
Lantronix, Inc. Receives NASDAQ Notice Regarding Minimum Bid Price Rule
IRVINE, Calif., Dec. 28, 2007 (PRIME NEWSWIRE) -- Lantronix, Inc. (Nasdaq:LTRX), a leader in device networking and data center management technologies, today announced that on December 26, 2007, it received a letter from The Nasdaq Stock Market advising that, for the previous 30 consecutive business days, the bid price of the Company's common stock (the "Common Stock") had closed below the minimum $1.00 per share requirement for continued inclusion on The Nasdaq Capital Market pursuant to Nasdaq Marketplace Rule 4310(c)(4) (the "Rule"). This notification has no effect on the listing of the Common Stock at this time.
Encysive Pharmaceuticals Inc.
Encysive Pharmaceuticals Announces Patent Infringement Lawsuit Against Barr Laboratories
HOUSTON, Dec. 28, 2007 (PRIME NEWSWIRE) -- Encysive Pharmaceuticals Inc. (Nasdaq:ENCY) today announced that Mitsubishi Chemical Corporation, the patent holder for Argatroban injections, Mitsubishi Tanabe Pharma Corporation, Encysive and GlaxoSmithKline have filed a patent infringement lawsuit in the U.S. District Court for the Southern District of New York against Barr Laboratories, Inc. related to Argatroban injections. Argatroban is approved by the U.S. Food and Drug Administration (FDA) for the treatment of heparin-induced thrombocytopenia. Encysive is the holder of the New Drug Application for Argatroban, and has licensed the North American marketing rights for the drug to GlaxoSmithKline.
Equity Media Holdings Corporation
Equity Media's RTN Adds a Media General Affiliate in Providence
LITTLE ROCK, Ark., Dec. 28, 2007 (PRIME NEWSWIRE) -- Retro Television Network (RTN), which is nationally owned and distributed by Equity Media Holdings Corporation (Nasdaq:EMDA), announced today that it will partner with Media General to bring RTN programming to Providence, RI. The new affiliate, which is the 5th Media General station to sign with RTN, will launch early next year on a digital stream of WJAR, the NBC affiliate in Providence.
Timberline Resources Corporation
James H. Moore Joins the Board of Directors At Timberline Resources
COEUR D'ALENE, Idaho, Dec. 28, 2007 (PRIME NEWSWIRE) -- Timberline Resources Corporation (OTCBB:TBLC) announced today that James H. Moore will join its Board of Directors, effective January 1, 2008. Mr. Moore has more than 30 years of experience in senior level financial management within the mining sector. He is currently the CFO of Mines Management, Inc. and was previously the CFO of Idaho General Mines, Inc.