latest news releases from the newsroom
Abbey Spanier Rodd & Abrams, LLP
Abbey Gardy, LLP Commences Class Action Securities Fraud Suit Against Leap Wireless International, Inc. -- LWIN
NEW YORK, Dec. 12, 2002 (PRIMEZONE) -- Abbey Gardy, LLP commenced a Class Action lawsuit in the United States District Court for the Southern District of California on behalf of a class (the "Class") of all persons or entities who purchased securities of Leap Wireless International, Inc. ("Leap" or the "Company") (OTCBB:LWIN) between February 11, 2002 and July 24, 2002, inclusive (the "Class Period"). The Complaint was filed on December 5, 2002 (02 CV 02388J) and was assigned to the Honorable Napoleon A. Jones, Jr.
Penn's Landing Corporation
Holidays Are Happening at the Blue Cross RiverRink on Festival Pier at Penn's Landing
PHILADELPHIA, Dec. 12, 2002 (PRIMEZONE) -- The winter season came early this year and everyone is in the holiday spirit -- especially with visions of snow all around! This makes the Blue Cross RiverRink, Penn's Landing's Olympic-size ice skating rink on the Delaware River, the perfect place to spend the holidays. The RiverRink is open throughout the entire holiday season with additional special skating sessions on Christmas Eve, Christmas Day, New Year's Eve, and New Year's Day.
Wihlborgs Performs an Exchange Transaction with Peab
STOCKHOLM, Sweden, Dec. 12, 2002 (PRIMEZONE) -- In a SEK 240 million exchange transaction with Peab, Wihlborgs acquires the remaining 25 percent of the shares in Klara Zenit and chiefly sells building rights. The transaction is being performed on December 16. The transaction's effect on Wihlborgs' balance sheet and profit/loss statement will be negligible. Accounting of minority shareholding and minority share will cease as a result of the transaction.
Q-Net Technologies, Inc.
Q-Net Technologies Board Approves Restricted Shares and Option Grant
LOS ANGELES, Dec. 12, 2002 (PRIMEZONE) -- Q-Net Technologies, Inc. (OTCBB:QNTI) (Frankfurt:QNO) reports that the Directors of the company have approved, on December 10, 2002, the issuance on a private placement basis, of up to 10 million restricted common shares of the company at a price of $0.10 cents per share. This placement would eliminate $500,000 of existing company debt and provide an additional $500,000 towards its business plan in China, to move forward with manufacturing of its Q-Readers and its Thin Client Server systems.
Flamemaster Reports Earnings for September 30, 2002 Fiscal Year and 4th Quarter
SUN VALLEY, Calif., Dec. 12, 2002 (PRIMEZONE) -- Flamemaster Corporation (Nasdaq:FAME) reported net income of $625,063 on a 12% increase in revenues to $5,061,386 for the year ended September 30, 2002. In the year previous fiscal year earnings were $647,024 on revenues of $4,520,019. Per share results were $.44 basic and $.40 fully diluted in 2002 vs. $.41 basic as fully diluted in 2001.
Moody's Upgrades Hansabank's Ratings
HELSINKI, Finland, Dec. 12, 2002 (PRIMEZONE) -- Moody's today upgraded Hansabank's (Other OTC:HNSBF) deposit and debt ratings. The bank's deposit ratings were raised from Baa1/P-2 to A1/P-1. The senior unsecured debt rating was lifted from A2 to A1 and the subordinated debt rating from A3 to A2.
DORO Sells Its Swiss Business
LUND, Sweden, Dec. 12, 2002 (PRIMEZONE) -- DORO AB (publ) (Stockholm:DOROa) of Lund, listed on Stockholmborsen's O-list, has signed an agreement with the Wycom group of Wettingen, Switzerland, to transfer its telephony business in Switzerland on 31 December 2002. Wycom sells a range of consumer electronics including telephones. The telephone business with DORO Audioline will be handled by Beletec AG, which is a fully-owned subsidiary to Wycom AG.
Substantial Rise in Value for Mandamus' Residential Properties
STOCKHOLM, Sweden, Dec. 12, 2002 (PRIMEZONE) -- The external year-end valuation of all Mandamus' (Other OTC:MNDMF) (Stockholm:MFAS) properties shows strong value growth during 2002. For the residential properties, which make up 86% of the property stock, the value increase is 7.5%. For the entire property stock, the figure is 7%. It has risen in value by some SEK 465m, bringing the total market value of the company's properties up to SEK 7,080m.