latest news releases from the newsroom
Citizens Trust Bank
Citizens Bancshares Corporation Announces Third Quarter Earnings for 2004
ATLANTA, Nov. 5, 2004 (PRIMEZONE) -- Citizens Bancshares Corporation (OTCBB:CZBS) (the "Company"), the parent company of Citizens Trust Bank ("CTB"), today announced its third quarter 2004 earnings of $0.18 per diluted share, down from $0.27 per diluted share for the same period of the previous year. During the three month period ending September 30, 2004, the Company recorded a loan loss provision of $225,000 compared to $100,000 for the same period last year, an increase of 125 percent. Also, last year's third quarter earnings include $489,000 in gains on sale of securities. There were no gains from the sale of securities for the third quarter ending September 30, 2004. As a result, third quarter 2004 net income decreased by 33 percent to $381,000 compared to $569,000 a year earlier.
Horizon Offshore Inc.
Horizon Offshore Completes Financing; Provides Update Regarding Recapitalization
HOUSTON, Nov. 5, 2004 (PRIMEZONE) -- Horizon Offshore, Inc. (NASDAQ:HOFF) announced that it has issued an additional $9.625 million aggregate principal amount of its 18% subordinated secured notes and entered into an agreement contemplating the recapitalization of the Company through a rights offering supported by a debt for equity conversion with the holders of its currently outstanding 16% and 18% subordinated notes. The newly issued 18% subordinated notes were purchased at a 20% discount, for $7.7 million.
The Mac Stores
New Mac Store Opens in Beaverton
PORTLAND Ore., Nov. 5, 2004 (PRIMEZONE) -- The Mac Stores, one of the nation's largest Apple specialists, will open its new Beaverton store on Saturday, November 6th at 10am in the Cedar Hills Crossing shopping center -- 3205 SW Cedar Hills Blvd.
Flamemaster's Common Stock To Be Delisted From Nasdaq
SUN VALLEY, Calif., Nov. 5, 2004 (PRIMEZONE) -- Flamemaster Corporation (NASDAQ:FAME) announced today that effective with the opening of trading on Monday, November 15, 2004, its common stock will be de-listed from the NASDAQ Small Cap Market. The common stock will immediately be eligible for quotation on the OTC Bulletin Board under the symbol "FAME".
InsynQ Pays Off Past Tax Liabilities Improving Balance Sheet
TACOMA, Wash., Nov. 5, 2004 (PRIMEZONE) -- InsynQ, Inc. (OTCBB:INSN), a premier provider of business application hosting and IT management services for accountants and financial service professionals, announced that is has improved its balance sheet by paying off past tax obligations of $429,000.
Micro Interconnect Technology, Inc.
Micro Interconnect Technology, Inc. Announces Closing Of Share Exchange Agreement With China-Based Lanbo Financial Investment Company Group, Ltd.
GREENWOOD VILLAGE, Colo., Nov. 5, 2004 (PRIMEZONE) -- Micro Interconnect Technology, Inc. (OTCBB:MITR), a Delaware corporation traded on the Over-the-Counter Bulletin Board under the ticker symbol "MITR" and Lanbo Financial Investment Company Group, Ltd., a real estate company located in Xi'an, China, announces today that on November 3, 2004, the companies consummated the Share Exchange Agreement entered into on September 29, 2004, and amended on October 18, 2004.
FTS Wireless, Inc.
FTS Lands B2B Wireless Deal
LEVITTOWN, Penn., Nov. 5, 2004 (PRIMEZONE) -- FTS Wireless, Inc., a wholly owned subsidiary of FTS Group, Inc. (OTCBB:FLIP) an emerging regional distributor of wireless products and services, today announced the signing of its largest B2B contract to date. The contract calls for FTS to fully outfit and support the wireless needs of New Jersey-based HVAC Company A.J. Perri and Co. (AJP).
Specialty Equipment Market Association
2004 SEMA Show an International Industry Sensation
LAS VEGAS, Nov. 5, 2004 (PRIMEZONE) -- Preliminary numbers from the 38th annual SEMA Show indicate that the Specialty Equipment Market Association is on pace to becoming the most successful SEMA gathering of automotive industrialists and aftermarket innovators ever. The 2004 show will break the 2003 show's impressive attendance of 105,000 industry professionals. And if the business in the isles is any indicator of the momentum of the industry, the automotive aftermarket is also going to have a record-breaker this year.