latest news releases from the newsroom
Millennium Chemicals To Restate Financial Statements
HUNT VALLEY, Md., July 29, 2004 (PRIMEZONE) -- Millennium Chemicals (NYSE:MCH) ("Millennium" or the "Company") announced today that it will restate its financial statements to correct accounting for deferred taxes relating to its investment in Equistar Chemicals, LP, Millennium's joint venture with Lyondell Chemical Company (NYSE:LYO). The restatement is not expected to affect Millennium's consolidated statements of operations for any years after 1999 but is expected to increase shareholders' equity at December 31, 2000 and 2001 and reduce shareholders' deficit at December 31, 2002 and 2003 by approximately $15 million (and correspondingly reduce Millennium's liability for deferred income taxes). The restatement will not affect the cash flow or operating income of Millennium in any year.
Cinema Internet Networks Inc.
Cinema Internet Networks Inc. -- Private Placement Closing
VANCOUVER, British Columbia, July 29, 2004 (PRIMEZONE) -- Mr. William Massey, President of the Company, announces that the private placement of 1,000,000 Units of the Company at a price of $0.10 per Unit as approved by the TSX Venture Exchange on June 14, 2004 has closed. Each Unit consists of one share and one share purchase warrant. The warrants are exercisable to acquire one additional common share for two years at a price of $0.15 per share expiring July 16, 2005 and at a price of $0.20 per share expiring July 16, 2006. The shares and any shares issued on exercise of the warrant have a four-month hold period expiring November 16, 2004. The proceeds will be used for general working capital.
Cinema Internet Networks Inc.
Cinema Internet Networks Inc. Announces Completion of Shares for Debt
VANCOUVER, British Columbia , July 29, 2004 (PRIMEZONE) -- Mr. William Massey, President of the Cinema Internet Networks Inc. (TSX-Venture Exchange:CWK), announces that the Company has completed a shares for debt settling outstanding debt totalling $169,750.90. The shares issued are 1,697,509 shares of the Company at a deemed price of $0.10 per share. The shares have a hold period expiring on November 14, 2004.
TDK Corporation Announces 1st Quarter Results
Tokyo, Japan, July 29, 2004 (PRIMEZONE) -- TDK Corporation today announced its consolidated business results prepared in conformity with accounting principles generally accepted in the United States of America (the "U.S. GAAP") for the 1st quarter ("Qtr.") of fiscal year ("FY") 2005 and 2004, the three months ended June 30, 2004 and 2003 are as follows:
Optical Storage Technology Association
Bringing Blue Laser to Market, Data Archiving, and Managing the Digital File Explosion to be Focus of Optical Storage Symposium -- 2004
CUPERTINO, Calif., July 29, 2004 (PRIMEZONE) -- The Optical Storage Technology Association (OSTA) today announced that it is hosting Optical Storage Symposium -- 2004, to be held Oct. 18 and 19, 2004, at the Fairmont Hotel in San Francisco, Calif. The event is co-located with the Consumer Electronics Association's (CEA) Industry Forum to enable attendees of both events to participate in sessions from the two conferences and selected joint activities, including a joint CEA/OSTA Session on Monday, Oct. 18, entitled, "Blue Laser Goes to Market," and joint keynote luncheons on both days, featuring "Customer Innovation in the World of CE" on Monday, and a keynote address on Tuesday on the impact of intellectual property laws on innovation by Lawrence Lessig, founder of Stanford Law School's Center for Internet and Society. OSS 2004 attendees will also have full access to the joint CEA/OSS Marketplace exhibit area.