latest news releases from the newsroom
Anywhere MD, Inc.
Anywhere MD, Inc. Has Entered Into a Funding Agreement With North American Funding, Inc.
RENO, Nev., March 1, 2005 (PRIMEZONE) -- Anywhere MD, Inc. (Pink Sheets:ANWM) announced today that it had entered into a funding agreement with North American Funding, Inc., a Texas-based firm, to sell approximately 1,300,000 shares of its restricted common stock at a purchase price of $0.15 per share in a private placement, for total proceeds of $195,000. The Company will use the funds for working capital needs and expansion. As part of the transaction, the company has agreed to an option to sell up to an additional $805,000 worth of its restricted common stock to this investor at a 10% discount to the market price of the shares at the time of purchase by the investor. The purchaser's right to purchase the additional shares expires six months after the date of closing of the initial private placement.
AVL Global Inc.
AVL Global, Inc. Announces Patent Filing Approval
PORT HURON, Mich., March 1, 2005 (PRIMEZONE) -- AVL Global (Pink Sheets:AVLL) is pleased to announce that its patent filing application for its energy generating and saving device has been recognized by the Patent Office in Taiwan and a filing number has been assigned. The Patent Office will now begin researching the technology to ascertain its uniqueness and determine if a patent will be granted. With the process now underway, the company and technology have taken a significant step towards commercialization and eventual distribution to a ready market.
MailKey Corporation Subsidiary, IElement, Announces January 2005 Renewal Numbers
DALLAS, March 1, 2005 (PRIMEZONE) -- MailKey Corporation (OTCBB:MAKY) subsidiary, IElement, Incorporated, a leading facilities-based communications service provider of enhanced voice and data services, announced today that the Company renewed over $12,000 in monthly recurring revenue in January 2005. The Company's voice and data customers renewed their services with IElement for a minimum of twelve months, and many of the contracts were renewed with 24-36 month extensions. The aggregate contracted revenue renewed for the month ending January 31, 2005, will exceed $185,000 over the next 36 months. This forecast is based on the assumption that the customers will abide by the binding terms and conditions set forth in their agreements with IElement.
Skandia: Class Action Suit in `Donovan' Case Conclusively Dismissed
STOCKHOLM, Sweden, March 1, 2005 (PRIMEZONE) -- The U.S. Supreme Court has decided not to grant plaintiffs' request to review the lower courts' rulings in the "Donovan" suit. The lower courts' rulings dismissing the class action suit in this case therefore still stand, and the case has thereby been conclusively decided in favour of Skandia.
Wolverine Tube Inc.
Wolverine Strengthens Liquidity Position
HUNTSVILLE, Ala., Feb. 28, 2005 (PRIMEZONE) -- Wolverine Tube, Inc. (NYSE:WLV) today announced that it had strengthened its liquidity position by repatriating approximately $10.2 million in cash from its Chinese subsidiary under the American Jobs Creation Act of 2004, and by increasing the amount of borrowing capacity available to it under its secured revolving credit facility. Of the cash received from China, $8 million was used to pay down some of the outstanding borrowings under its secured revolving credit facility. The remaining proceeds will be used for future debt reductions or capital expenditures. Borrowings under the secured revolving credit facility now stand at $9.5 million, thereby increasing the amount of available borrowings to Wolverine to $20.5 million as of February 28, 2005, subject to a $2.0 million excess availability requirement.