Organization Honors NYS Lt. Governor Ravitch, Council of Urban Professionals for Commitment to Public Service and Developing Diverse Leaders of Tomorrow
Common Cause/New York will host its 40th anniversary awards dinner tonight, highlighting the importance of civic engagement to the vibrancy of our democracy. Common Cause will honor New York Lieutenant Governor Richard Ravitch and the Council of Urban Professionals (CUP) for their commitment to public service and to developing diverse leaders of tomorrow.
Common Cause is a nonpartisan, nonprofit advocacy organization founded in 1970 by John Gardner as a vehicle for citizens to make their voices heard in the political process and to hold their elected leaders accountable to the public interest at the national, state and local levels.
“For 40 years, Common Cause/New York has dedicated itself to the citizens of New York, ensuring that every voice, big or small, is heard,” said Susan Lerner, Executive Director of Common Cause/New York. “Tonight, we are proud to honor the accomplishments of Lt. Governor Richard Ravitch and the Council of Urban Professionals as they embody our mission and work tirelessly on behalf of all New Yorkers.”
Richard Ravitch is receiving the John Gardner Lifetime Achievement Award for his commitment to public service. Some of his accomplishments include resolving New York City’s default crisis; reorganizing the MTA, recruiting private sector operating officials and developing a long-term capital plan and budget for a system-wide upgrade; and more recently, working with the New York State Legislature to get the budget passed. Mortimer B. Zuckerman, Chairman and Publisher of the New York Daily News, and Chairman and Editor-in-Chief of U.S. News and World Report, will present the award. Paul A. Volcker, Chairman of the President’s Economic Recovery Advisory Board, will serve as the evening’s introductory speaker.
CUP, a nonprofit that advances the social, political, and economic interests of minorities and women, is receiving the Common Cause Democracy in Action Award for its efforts to engage and develop diverse future business and civic leaders, strengthen our communities and increase business opportunities for minorities and women. Hakeem Jeffries, Assembly Member, NY 57th A.D., will present the award to Chloe Drew, the executive director of CUP, and to be named board member.
“Being recognized by Common Cause/New York for our work empowering minorities and women to become future leaders is truly an honor,” said Chloe Drew, executive director of CUP. “Common Cause/New York’s work enfranchising New Yorkers has not only encouraged residents to become active citizens, but also paved the way for organizations like CUP to help others find their voice and become the leaders of tomorrow.”
Common Cause/New York is at the forefront of the movement for independent redistricting, campaign finance reform and honest, inclusive and verifiable elections. Common Cause was instrumental in creating New York City’s successful public campaign financing system and in exposing the influence of money on Albany politics.
Most recently, Common Cause/New York was a leader in the successful effort to end prison-based gerrymandering in New York State, in exposing the influence of corporate lobbyists on State Legislators to approve a potentially hazardous method of natural gas extraction in New York’s Marcellus Shale, and in assembling a Citizens’ Redistricting Commission to draw up models for fair, non-politicized Federal and State voting districts in order to pressure the legislature into acting properly.
About Common Cause/New York:
Common Cause is a nonpartisan, nonprofit advocacy organization founded in 1970 by John Gardner as a vehicle for citizens to make their voices heard in the political process and to hold their elected leaders accountable to the public interest. Now with nearly 400,000 members and supporters and 36 state organizations, Common Cause remains committed to honest, open and accountable government, as well as encouraging citizen participation in democracy.
Common Cause/New York is the citizen’s lobbyist and we speak up for clean elections and ethical standards for our elected officials. We stand up for responsive government. For years, we’ve provided a clear, strong voice for you and the citizens of New York. CC/NY is a leading force in the battle for honest and accountable government. In the past three decades, by fighting together we have enacted real change and will continue to do so in New York and nationally.
About the Council of Urban Professionals:
The Council of Urban Professionals (CUP) is a nonprofit, nonpartisan membership organization whose members are leading minority and women professionals in finance, law, business, real estate, media and entertainment. CUP’s mission is to develop diverse business and civic leaders, empowering them to exert their influence, achieve their individual goals, and create collective impact. More information is available at www.nycup.org.
Contact:
Stephanie Ramirez
(212) 784-5704
Stephanie@GroupGordon.com
Jeremy Robinson-Leon
(212) 784-5702
Jeremy@GroupGordon.com
Solitaire Minerals Corp. (TSX VENTURE:SLT) (Solitaire) reports that it has arranged a non-brokered private placement with MineralFields Group of up to 15,000,000 units at a price of $0.07 per unit for total proceeds of up to $750,000 subject to the approval of the TSX Venture Exchange.
Up to 15,000,000 units will be issued as flow-through units consisting of one common share and one-half (1/2) of a transferable share purchase warrant. One full warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.10 per share for the first year and $0.125 per share until expiration on the second year.
First Canadian Securities® will receive a cash finder’’s fee of 5% (no GST payable) as well as a non-transferable option (the “Option”) to acquire 1,071,428 units of the Company (the “Units”), equivalent to 10% of the total units sold in the Private Placement. The Option is exercisable into Units for a period of 24 months following the Closing at an exercise price of $0.07 per Unit. Each Unit consists of one common share of the Company and one-half (1/2) of one non-transferable share purchase warrant of the Company, each such warrant entitling the holder to purchase one common share of the Company at an exercise price of $0.10 for the first 12 months following the Closing and at an exercise price of $0.125 between 12 and 24 months following the Closing.
“We are very pleased to be renewing our relationship with MineralFields Group,” said Charles Desjardins, President of Solitaire. “This is an important milestone in the growth of Solitaire and we look forward to working with MineralFields Group as we develop our exploration targets.”
All securities issued pursuant to this private placement will have a hold period expiring four months after the date of issuance.
Non Flow-Through Private Placement
Solitaire would also like to announce that it has arranged a non-brokered private placement to raise up to $500,000 by issuing both non flow-through units and flow-through units subject to the approval of the TSX Venture Exchange.
Up to 3,571,428 flow-through units will be sold at a price of $0.07 and will be issued as units consisting of one common share and one half (1/2) transferable share purchase warrant. One transferable share purchase warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.10 per share for the first year and $0.125 per share until expiration on the second year.
Up to 5,000,000 non flow-through units will be sold at a price of $0.05 and will be issued as units consisting of one common share and one transferable share purchase warrant. One transferable share purchase warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.10 per share for the first year and $0.125 per share until expiration on the second year.
The proceeds of the private placement will be used for exploration work on the Company’’s mineral properties and general working capital.
“About MineralFields, Pathway and First Canadian Securities ®”
MineralFields Group (a division of Pathway Asset Management), based in Toronto, Montreal, Vancouver and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities ® (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities ®.
About Solitaire Minerals Corp.
Solitaire Minerals Corp. (TSX VENTURE:SLT) is a diversified Junior Canadian Mineral Exploration Company with a specific focus on precious and base metal properties in North America. In addition, the Company intends to acquire Metallurgical coal leases.
For additional information please contact Solitaire Minerals Corp. or visit www.solitaireminerals.com.
On Behalf of the Board of Directors
SOLITAIRE MINERALS CORP.
Charles Desjardins, President and Director
Cautionary note:
This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as “reserves” unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
Solitaire Minerals Corp.
Charles Desjardins
President and Director
604-683-5445
604-687-9631
info@solitaireminerals.com
www.solitaireminerals.com
Cavan Ventures Inc. (“Cavan” or the “Company”) (TSX VENTURE:CVN), a public mineral exploration company based in Vancouver, British Columbia, is pleased to announce that is has adopted a new 10% rolling stock option plan (the “Stock Option Plan“) to provide incentive to the Company’’s directors, officers, employees and consultants. The maximum number of shares which may be issued under the Stock Option Plan, together with the number of shares issuable under outstanding options granted otherwise than under the Stock Option Plan, shall not exceed 10% of the issued and outstanding shares of the Company from time to time.
The adoption of the Stock Option Plan was approved by the shareholders of the Company at the annual general meeting of shareholders held November 12, 2010 but is subject approval by the TSX Venture Exchange (the “Exchange“). Pursuant to Exchange policies, the Stock Option Plan will require annual shareholder approval at Cavan’’s annual general meeting of shareholders.
At this time, the Company is also pleased to announce that Mr. Harvey Lawson has been appointed Chief Financial Officer of the Company. Mr. Lawson replaces Mr. Trevor Sinclair, who resigned as Chief Financial Officer effective November 12, 2010.
On behalf of the Board of Directors,
CAVAN VENTURES INC.
“Ming Chiang”
Ming Chiang, President & CEO
For further information please visit our website at www.cavanventures.com.
If you would like to be added to Cavan’’s update list please send an email to ming@cavanventures.com.
Cavan Ventures Inc.
Ming Chiang
President & CEO
(604) 763-7748 (cell); (604) 288-2756 (office)
ming@cavanventures.com
www.cavanventures.com
Mercent™, a leading provider of on-demand marketing solutions for retailers, released today its Mercent eCommerce Performance Index™ (MEPI) for Cyber Monday 2010 — the largest online shopping day of the year with over 102 million American shoppers — and for the extended 5-day shopping weekend starting Thanksgiving Day and ending Cyber Monday.
The Mercent eCommerce Performance Index is a quarterly eCommerce report that measures year-over-year (YOY) aggregate same-seller gross merchandise value (GMV) across online sales channels and shopping destinations supported by the Mercent Retail™ channel management platform, including Amazon.com, Google, Microsoft Bing, Yahoo!, eBay, and more than 120 others. During the holiday retail selling season, Mercent supplements its MEPI by issuing two annual holiday reports that measure 24 hours of online retail sales for Thanksgiving Day, Black Friday, and Cyber Monday.
Today’s release specifically includes consumer retail eCommerce growth figures for Cyber Monday, November 29th, 2010, and the five-day shopping period of November 25th (Thanksgiving Day) through November 29th (Cyber Monday), 2010.
- For the 24 hours of Cyber Monday 2010, Mercent reports overall same-seller online retail GMV across all channels grew 34% relative to Cyber Monday 2009.
- On Cyber Monday, same-seller GMV of Mercent clients participating in Amazon’s “Selling on Amazon” third-party marketplace program increased by 75% relative to Cyber Monday 2009.
- Same-seller GMV sales on the Google Product Search advertising program showed a 37% increase over 2009 on Cyber Monday.
| 2010 Key Holiday Shopping Days Versus Corresponding Days in 2009 for eCommerce Spending | ||||||
| Holiday Season Day | Online Shopping Channels | |||||
| ALL | Amazon | |||||
| November 25th(Thanksgiving Day) | 32% | 58% | 31% | |||
| November 26th(Black Friday) | 30% | 105% | 69% | |||
| November 29th(Cyber Monday) | 34% | 75% | 37% | |||
| Complete 5-day Shopping “Weekend” | 31% | 86% | 37% | |||
“The Mercent eCommerce Performance Index reflects remarkable online retail sales performance this holiday shopping season,” commented Mercent CEO Eric Best. “Year-over-year same-seller GMV across all Mercent-support channels increased 34%, and sales on Amazon and Google Product Search also grew by 75% and 37% respectively. We are confident growth this year continues to be driven by value-conscious consumers. However, this value-driven shopping trend is no longer a function of a soft economy, rather a permanent change in retail shopping behavior. With purchasing information and capabilities directly at their fingertips via browsers and mobile apps, consumers are armed with real-time data on pricing and product availability, promotions and offers, member discounts, and group-buying and local offers to evaluate every purchase. The implication for retailers is the requirement to fully engage customers online and on mobile devices in deliberate and increasingly sophisticated ways in order to effectively compete, survive and thrive.”
Mercent eCommerce Performance Index™ Methodology:
The methodology for the Mercent eCommerce Performance Index comparison matches all prior studies and reports retail transactions driven through Mercent’s network of online shopping and advertising channels, including comparison shopping engines (CSEs), third-party seller marketplaces, and affiliate programs. To ensure continuity and to eliminate artifact associated with new customer ramp, the Mercent eCommerce Performance Index only references retailers live on the Mercent Retail platform prior to and during the entire reported term. Information regarding Mercent Retail shopping feed management technology, Mercent Performance marketing services, and the complete list of online marketing channels in the Mercent Shopping Network are available at www.mercent.com.
About Mercent
Mercent is a leading provider of online channel marketing technology and services for retailers. Through its award-winning Mercent Retail™ SAAS technology and Mercent Performance™ professional services, Mercent helps the world’s most successful online merchants including 1-800-Flowers, Bass Pro Shops, Brookstone, GUESS?, L’Occitane USA, Redcats Group, and REI optimize online shopping channel marketing campaigns to drive customer acquisition, revenues, profits, and inventory velocity. Mercent is the single point of integration with a vast online advertising network that includes transactional marketplaces such as Amazon.com and eBay; comparison shopping engines (CSEs) such as Shopping.com and NextTag; affiliate marketing programs such as LinkShare and the Google Affiliate Network; and other product advertising channels including Microsoft Bing Shopping and Google Product Listing Ads (PLA). The company is a ‘Selling on Amazon.com’ Certified System Integrator, Buy.com Gold Certified Partner, eBay Certified Provider and certified Google Product Search Partner. Founded by a seasoned team of Amazon.com veterans, Mercent is a venture-funded company based in Seattle, WA. For more information, visit www.mercent.com.
Mercent PR Contact:
Kristine Szarkowitz
Email Contact
(Tel: ) 206.310.5323
iMarketing Solutions Group Inc. (TSX VENTURE:XDM) –
| Period ended September 30 | Three months | Nine months | ||
| 2010 | 2009 | 2010 | 2009 | |
| ($ 000′’s, except per share amounts) | ||||
| Revenue | $ 21,321 | $ 22,317 | $ 67,146 | $ 69,931 |
| Gross Margin | 4,769 | 5,298 | 17,280 | 16,234 |
| Net earnings (loss) | (632) | 697 | 553 | 1,951 |
| EBITDA | (480) | 1,389 | 1,862 | 4,110 |
| EPS, fully diluted | $ (0.02) | $ 0.03 | $ 0.02 | $ 0.08 |
| EBITDA, per share, fully diluted | $ (0.01) | $ 0.05 | $ 0.06 | $ 0.16 |
| *EBITDA — Net Earnings before income taxes, interest, depreciation and amortization. Since Gross Margin, EBITDA and diluted EBITDA per share have no standardized GAAP meaning, the comparability of these amounts to other enterprises may not be possible if the basis of calculation of differs. | ||||
iMarketing Solutions Group Inc. (formerly Xentel DM Incorporated), a North American specialty entertainment and relationship marketing company, today reported its financial results for the three and nine months ended September 30, 2010.
Net loss for the three months ended September 30, 2010 amounted to $632 thousand or $(0.02) per diluted share. This compares to the net earnings for the three months ended September 30, 2009 of $697 thousand or $0.03 per diluted share. Similarly, net earnings for the nine months ended September 30, 2010 compared to the nine months ended September 30, 2009 were $553 thousand or $0.02 per diluted share and $1,951 thousand or $0.08 per diluted share respectively.
Revenues for the three months ended September 30, 2010 amounted to $21,321 thousand compared to $22,317 thousand for the three months ended September 30, 2009, a decrease of $996 thousand, primarily resulting from revenue increases from the recently merged operations of The Responsive Marketing Group Inc. (RMG) which were more than offset by revenue decreases in the US operations attributable to increased consumer resistance.
There was negative EBITDA in the three month ended September 30, 2010 in the amount of $480 thousand compared to EBITDA for the three months ended September 30 , 2009 of $1,389 thousand. For the nine months ended September 30, 2010 and 2009, EBITDA amounted to $1,862 thousand and $4,110 thousand respectively.
iMarketing Solutions Group Inc. (formerly Xentel DM Incorporated) is one of North America’’s leading relationship-marketing concerns and producers of cause related entertainment events. The Company’’s success is attributable to proprietary sales tools including technologically advanced teleservices and sophisticated customer databases. The Company has over 400 clients and 1,900 employees in over 25 offices across North America.
Certain statements in this press release may constitute “forward looking statements” reflecting our current beliefs, plans, estimates and expectations. These forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or the combined companies to be materially different from any performance or achievement expressed or implied by such “forward looking statements”. Except as required by applicable securities laws, we undertake no obligation to update any forward looking statements for any reason after the date hereof to conform these statements to actual results or to changes in our expectations.
| iMarketing Solutions Group Inc. (formerly Xentel DM Incorporated) | |||||
| Consolidated Balance Sheets | September 30, 2010 | September 30, 2009 | December 31, 2009 | ||
| (”000s) | (Unaudited) | (Unaudited) | (Audited) | ||
| Assets | |||||
| Current assets | |||||
| Cash and cash equivalents | $ 2,521 | $ 2,615 | $ 3,445 | ||
| Accounts receivable, net of allowances | 10,168 | 6,671 | 6,555 | ||
| Income taxes recoverable | 263 | - | - | ||
| Prepaid expenses and other current assets | 1,311 | 1,120 | 959 | ||
| Due from related party | - | 1,417 | - | ||
| Future income taxes | 746 | 570 | 332 | ||
| 15,009 | 12,393 | 11,291 | |||
| Equipment | 3,412 | 2,493 | 2,298 | ||
| Future income taxes | 1,697 | 2,567 | 2,059 | ||
| Intangible assets | 373 | 58 | 57 | ||
| Goodwill | 1,812 | 1,105 | 1,064 | ||
| $ 22,303 | $ 18,616 | $ 16,769 | |||
| Liabilities | |||||
| Current liabilities | |||||
| Bank indebtedness | $ 1,070 | $ 316 | $ 63 | ||
| Accounts payable and accrued liabilities | 5,495 | 4,846 | 4,969 | ||
| Income taxes payable | 244 | 197 | 66 | ||
| Current portion of long term liabilities | 417 | 91 | 89 | ||
| Future income taxes | 858 | 715 | 838 | ||
| Due to related party | 400 | 1,747 | - | ||
| 8,484 | 7,912 | 6,025 | |||
| Long term debt | 227 | 1 | - | ||
| Future income taxes | 121 | 34 | - | ||
| Deferred tenant inducement | 79 | 160 | 139 | ||
| 8,911 | 8,107 | 6,164 | |||
| Shareholders” equity | |||||
| Share capital | 11,113 | 8,827 | 8,765 | ||
| Contributed surplus | 646 | 628 | 646 | ||
| Accumulated other comprehensive income | (3,769) | (3,424) | (3,655) | ||
| Retained earnings | 5,402 | 4,478 | 4,849 | ||
| 13,392 | 10,509 | 10,605 | |||
| $ 22,303 | $ 18,616 | $ 16,769 | |||
| iMarketing Solutions Group Inc. (formerly Xentel DM Incorporated) | |||||||
| Consolidated Statements of Operations and Retained Earnings | |||||||
| (”000s, except per share amounts) | |||||||
| Three Months Ended | Nine Months Ended | ||||||
| September 30 | September 30 | ||||||
| 2010 | 2009 | 2010 | 2009 | ||||
| (unaudited) | (unaudited) | (unaudited) | (unaudited) | ||||
| Revenue | $ 21,321 | $ 22,317 | $ 67,146 | $ 69,931 | |||
| Cost of revenue | 16,552 | 17,019 | 49,866 | 53,697 | |||
| Gross margin | 4,769 | 5,298 | 17,280 | 16,234 | |||
| Corporate expenses | |||||||
| Branch overhead and corporate administration | 5,249 | 3,909 | 15,418 | 12,124 | |||
| Interest expense | 31 | 25 | 72 | 106 | |||
| Amortization of equipment | 333 | 221 | 952 | 716 | |||
| Amortization of intangible assets | 2 | 2 | 6 | 6 | |||
| 5,615 | 4,157 | 16,448 | 12,952 | ||||
| Earnings (loss) before income taxes | (846) | 1,141 | 832 | 3,282 | |||
| Income tax expense (recovery) | |||||||
| Current income tax (recovery) expense | (4) | 134 | 325 | 164 | |||
| Future income tax (recovery) expense | (210) | 310 | (46) | 1,167 | |||
| (214) | 444 | 279 | 1,331 | ||||
| Net (loss) earnings | (632) | 697 | 553 | 1,951 | |||
| Retained earnings, beginning of period | 6,034 | 3,781 | 4,849 | 3,027 | |||
| Dividends paid | - | - | - | 500 | |||
| Retained earnings, end of period | $ 5,402 | $ 4,478 | $ 5,402 | $ 4,478 | |||
| Basic net earnings (loss) per share | $ (0.02) | $ 0.03 | $ 0.02 | $ 0.08 | |||
| Diluted net earnings (loss) per share | $ (0.02) | $ 0.03 | $ 0.02 | $ 0.08 | |||
| Basic weighted average number of shares outstanding | 33,379 | 24,985 | 31,414 | 25,042 | |||
| Diluted weighted average number of shares outstanding | 33,560 | 25,845 | 31,634 | 25,376 | |||
| iMarketing Solutions Group Inc. (formerly Xentel DM Incorporated) | |||||||
| Consolidated Statements of Contributed Surplus | |||||||
| (”000s) | |||||||
| Three Months Ended | Nine Months Ended | ||||||
| September 30 | September 30 | ||||||
| (unaudited) | (unaudited) | ||||||
| 2010 | 2009 | 2010 | 2009 | ||||
| Balance, beginning of period | $ 646 | $ 628 | $ 646 | $ 558 | |||
| Discount on share repurchase from book value | - | - | - | 70 | |||
| Balance, end of period | $ 646 | $ 628 | $ 646 | $ 628 | |||
| iMarketing Solutions Group Inc. (formerly Xentel DM Incorporated) | |||||||
| Consolidated Statements of Comprehensive Income | |||||||
| (”000s) | |||||||
| Three Months Ended | Nine Months Ended | ||||||
| September 30 | September 30 | ||||||
| (unaudited) | (unaudited) | ||||||
| 2010 | 2009 | 2010 | 2009 | ||||
| Net earnings for the period | $ (632) | $ 697 | $ 553 | $ 1,951 | |||
| Foreign currency translation adjustment from self sustaining foreign operations | (94) | (501) | (114) | (1,035) | |||
| Comprehensive income (loss) | $ (726) | $ 196 | $ 439 | $ 916 | |||
| iMarketing Solutions Group Inc. (formerly Xentel DM Incorporated) | |||||||
| Consolidated Statements of Accumulated Other Comprehensive Income | |||||||
| (”000s) | |||||||
| Three Months Ended | Nine Months Ended | ||||||
| September 30 | September 30 | ||||||
| (unaudited) | (unaudited) | ||||||
| 2010 | 2009 | 2010 | 2009 | ||||
| Balance, beginning of period | $ (3,675) | $ (2,923) | $ (3,655) | $ (2,389) | |||
| Foreign currency translation adjustment from self sustaining foreign operations | (94) | (501) | (114) | (1,035) | |||
| Balance, end of period | $ (3,769) | $ (3,424) | $ (3,769) | $ (3,424) | |||
| iMarketing Solutions Group Inc. (formerly Xentel DM Incorporated) | |||||||
| Consolidated Statements of Cash Flows | |||||||
| (”000s) | Three Months Ended | Nine Months Ended | |||||
| September 30 | September 30 | ||||||
| (unaudited) | (unaudited) | ||||||
| 2010 | 2009 | 2010 | 2009 | ||||
| Cash flows from (used in) operating activities | |||||||
| Net earnings (loss) for the period | $ (632) | $ 697 | $ 553 | $ 1,951 | |||
| Non cash transactions reflected in net earnings | |||||||
| Amortization | 335 | 223 | 958 | 722 | |||
| Future income tax expense (recovery) | (210) | 310 | (46) | 1,167 | |||
| Adjustment for non cash tenant inducement rent credit | (21) | (21) | (61) | (63) | |||
| (528) | 1,209 | 1,404 | 3,777 | ||||
| Net change in non cash working capital items | |||||||
| Accounts receivable | 118 | 447 | (1,040) | (130) | |||
| Prepaid expenses and other current assets | (17) | 228 | (152) | 617 | |||
| Income taxes payable / recoverable | 11 | 170 | 525 | (110) | |||
| Accounts payable and accrued liabilities | 479 | (16) | (345) | (771) | |||
| Net change in non cash working capital items | 591 | 829 | (1,012) | (394) | |||
| 63 | 2,038 | 392 | 3,383 | ||||
| Cash flows from (used in) financing activities | |||||||
| Bank indebtedness | (657) | (360) | (814) | 240 | |||
| Due to related party (repaid) received | - | (355) | 300 | (1,270) | |||
| Long term debt repaid | (85) | (2) | (200) | (64) | |||
| Repurchase of share capital | - | - | - | (28) | |||
| Dividends paid | - | - | - | (500) | |||
| Issuance of share capital on option exercise | - | - | 33 | - | |||
| (742) | (717) | (681) | (1,622) | ||||
| Cash flow (used in) investing activities | |||||||
| Investment in equipment | (173) | (200) | (599) | (353) | |||
| Effect of exchange rate fluctuations on cash balances | (23) | (100) | (36) | (158) | |||
| Net increase (decrease) in cash and cash equivalents | (875) | 1,021 | (924) | 1,250 | |||
| Cash and cash equivalents, beginning of period | 3,396 | 1,594 | 3,445 | 1,365 | |||
| Cash and cash equivalents, end of period | $ 2,521 | $ 2,615 | $ 2,521 | $ 2,615 | |||
iMarketing Solutions Group Inc.
Caren Holtby
Investor Relations
866-204-9861
416-633-4643
Hong Kong Aviation Capital Appoints Paul Dwyer Head of Risk
PR Newswire
HONG KONG, December 1, 2010 /PRNewswire/ — Hong Kong Aviation Capital ("HKAC"), a leading investor in global
aviation finance, announced today it has appointed Paul Dwyer as its new Head
of Risk.
Mr Dwyer will be based in Hong Kong and comes to HKAC after a long career
in aviation and aircraft risk management. Mr Dwyer is expected to begin his
appointment at HKAC on December 1, 2010.
Paul has previously been the Head of Risk for Global Aviation Asset
Management ("GAAM") Pty Ltd in Australia. In this role he was responsible for
all risk management activities, implemented a portfolio monitoring system for
a $1.8 billion portfolio spread over 19 countries and designed and
implemented a comprehensive portfolio credit risk model. His work also
included heading risk analysis for an IPO and advising on reporting
requirements and implications of interest rate and currency movements.
Prior to GAAM, Paul was the Senior Vice President Credit and Research for
Boullioun Aviation Services, Inc. While at Boullioun he pioneered the use of
loss given default, expected loss and economic capital concepts in aviation
operating leasing as part of a comprehensive risk management program.
"We are very pleased to have someone of Paul's caliber joining HKAC, and
see it as another important step in our development and continuing
international expansion," said Mathis Shinnick, CEO, Hong Kong Aviation
Capital.
"Paul's wide experience in and knowledge of risk management will be an
asset to HKAC. His extensive knowledge of risk issues and lease operations
will help us rapidly consolidate our lease management business within the
Allco aviation portfolio acquired early in 2010. It will help us position
HKAC as a leader in the global aircraft leasing marketplace," Mr Shinnick
said.
"Paul is a highly-respected executive in the aviation risk management
field," said Bharat Bhise, CEO of Bravia Capital Partners and investor in
HKAC. "His hiring is a further sign of our commitment to recruit the best
available talent in the industry."
"Hiring Paul will significantly enhance HKAC's position as a leading
industry player whereby our investor and lender base can take additional
comfort that we are focused on ensuring we are being compensated fairly for
the risk profile for every investment," Mr Bhise said.
Paul has an MBA from Seattle University in Washington and a BA in
international studies from Johns Hopkins University in Baltimore.
HKAC secured a portfolio of nearly US$3 billion in assets this year by
completing its acquisition of Allco Aviation in early January 2010. As part
of the acquisition, HKAC retained the existing management team of the Allco
Aviation portfolio.
About Hong Kong Aviation Capital
Hong Kong Aviation Capital ("HKAC") is a diversified player in the
aviation industry. HKAC is headquartered out of Hong Kong, with offices in
Sydney and London. The firm invests in commercial aircraft leases and
financial instruments, and also provides aircraft management and advisory
services. HKAC's mission is to prudently invest in the global transportation
and infrastructure sectors for consistent and long-term returns, creating
value for its investors and clients alike. HKAC has a highly capable team
with skills and experience in both the financial industry and the management
of aircraft assets. The company's Web site can be found at
http://www.hongkongaviation.com.
Media inquiries, please contact:
Tracey Yong
Edelman Sydney
Ph: +61-2-9291-3367
tracey.yong@edelman.com
Jennifer McCloy
Edelman Sydney
Ph: +61-2-9291-3328
jennifer.mccloy@edelman.com
During This Holiday Season, Cash for Gold USA Will Be Giving Customers a $50 Holiday Cash Bonus for Shipments Valued at Least $250
Because of the tough economy, most people are finding it difficult to purchase gifts for their loved ones this holiday season. As a result, many people have attempted to sell their various belongings by having yard and garage sales with the hope of earning extra money for the holidays. While this is a practical idea, there is no way of telling if the yard and/or garage sale will yield enough extra money to buy the gifts you want to purchase for your loved ones this holiday season; and that is where the good people at Cash for Gold USA come in.
We have found enormous success in selling our gold, sterling silver, platinum, and diamonds to Cash for Gold USA, an entity of CJ Environmental, Inc. The process for sending your items could not be easier. Simply call them at 1-888-465-3808 or visit their website and fill out a short request form to get free FedEx shipping or a free pre-paid, envelope so you can easily and safely ship your items at no cost to you. Once Cash for Gold USA receives your items, they will mail you a Settlement Check for the amount they paid for your items. If the value of your items is over $250 (and you signed up through this offer), your $50 Holiday Cash Bonus will be automatically applied. And here’s the best part, if you find that the amount of the Settlement Check is not satisfactory, simply call Cash for Gold USA within 14 business days of the date on the Settlement Check and they will return your items to you.
And, because Cash for Gold USA understands the importance of customers showing their loved ones how much they care every holiday season, it will gift its customers a $50 bonus for orders over $250. However, to qualify for the Holiday Bonus you must sign up by clicking this link:
http://cashforgoldusa.com/50_Dollar_Holiday_Bonus
This is just a small way Cash for Gold USA is telling its customers “Thank you for your support!” this holiday season.
Contact:
Wendy Miller
Director of Public Relations
1-866-784-2238
Email Contact
Integrated Cloud Services Management (ICMS) Leader to Showcase Real-World Cloud Security, Compliance and Governance
Freedom OSS (http://www.freedomoss.com), a leader in Integrated Cloud Service Management (ICSM), announced today that it has selected Hong Kong as the next location for its popular Cloud Computing and Cloud Management Best Practices event. Integrated Cloud Services Management: HONG KONG (http://bit.ly/h0eKgb) will be held on December 7th, 2010, 8:30am – 11:45am, at the Renaissance Harbor View Hotel, Hong Kong.
This exclusive half-day event will feature Freedom OSS Chief Cloud Architect Max Yankelevich, as well as enterprise cloud user presentations. Speakers will detail challenges, strategies and benefits of deploying real-world cloud environments for today’s enterprise needs.
Who Should Attend:
Technology and business stakeholders of enterprise companies, including CTOs, CIOs, VPs, Directors, Program and Product Managers, Architects, Administrators, Lead Engineers, and IT Managers
Attendees will gain an in-depth understanding of the full benefits of cloud computing, including approaches to safeguarding stored data within the cloud. Among other items, attendees will learn best practices strategies for:
- Current trends on cloud computing in the enterprise
- How to secure data in a cloud
- How to create enterprise grade governance procedures in cloud implementations
- How to establish a single, flexible interface to initiate both self-service and engineer-assisted activities
- How to significantly reduce the time to market for mission-critical applications in the cloud, while recognizing the full benefits of cloud computing
- How one customer reduced costs and improved IT efficiencies by moving its SAP System into a cloud computing environment hosted by Amazon Web Services (AWS)
As one of the industry’s leading integrators for Amazon Web Services (AWS) cloud services and implementations, Freedom OSS provides a broad spectrum of expertise in cloud computing services. Enterprise organizations and federal agencies around the globe leverage Freedom OSS to accelerate the delivery of cloud management, cloud compliance, cloud security, and cloud governance.
Three Simple Ways to Register:
1. Online: http://www.freedomoss.com/index.php?option=com_content&view=article&id=38
2. Email: Info@freedomoss.com
3. Telephone: Nichole Merrick @ +852-3-9733978
About Freedom OSS
Freedom OSS is a leader in Integrated Cloud Service Management (ICSM) focusing on large enterprise environments. Drawing upon its roots as an open source and SOA integrator, Freedom OSS has developed a unique solution that fills a gap for cloud management and mitigates the risks for migrating to the cloud. Freedom’s vNOC cloud management and governance suite simplifies the process of getting applications ready for cloud deployment by managing packaged and server applications, operating systems, security patching as well as providing governance and compliance adherence. In addition, Freedom offers strategic cloud computing partnerships as one of the leading Amazon AWS Enterprise Partners.
Freedom OSS has demonstrated an unmatched expertise building custom, scalable, mission-critical business applications for a diversity of customers (Global 2000, Government and mid-size). Freedom OSS has been identified as “The Top Enterprise Cloud Computing System Integrator on the Market Today,” according to The 451 Group & Burton Group.
For More Information:
Jackie Abramian
BridgeView Marketing (for Freedom OSS)
207-439-0963
Jackie@bridgeviewmarketing.com
Q3 Additions Equal 25 Percent of New Mobile Broadband Subscriptions Worldwide
4G Americas, a wireless industry trade association representing the 3GPP family of technologies, today announced that more than 100 million mobile broadband customers in the Americas region are using 3GPP technology.
With an annualized growth rate of 77 percent for the Western Hemisphere, including 158 percent annual growth in Latin America and 55 percent in the U.S. and Canada, the regional growth for 3GPP mobile broadband far exceeds the 40 percent growth of 3GPP mobile broadband worldwide at the 12 months ending September 2010 (subscriber data according to Informa Telecoms & Media WCIS).
The Western Hemisphere added 11 million UMTS-HSPA subscriptions in the third quarter of 2010, of the total 44 million new UMTS-HSPA subscriptions worldwide, representing a quarter of the new global 3GPP mobile broadband subscriptions.
“The future for mobile broadband has never been brighter,” said Chris Pearson, President of 4G Americas. “The momentum of the 3GPP family of mobile broadband technologies, such as HSPA and LTE, provides the foundation for transforming many areas of society. The recent ratification of LTE-Advanced as an ITU 4G IMT-Advanced technology was a significant achievement for the wireless industry and continues the progress of high speed wireless access.”
Western Hemisphere
At the end of September 2010, subscriptions for UMTS-HSPA hit 99.3 million, with more than 11 million new mobile broadband connections in the third quarter alone representing nearly 13 percent growth. On an annual basis, over the 12 months ending September 2010, mobile broadband technology subscriptions reached 43 million to show nearly 77 percent growth in one year.
The 3GPP family of technologies represent a 75 percent market share in the Americas region and added a net total of 78 million new subscriptions in the 12 month period ending September 2010. With 43.1 million UMTS-HSPA total added subscriptions, mobile broadband represents 55 percent of all 3GPP additions in the year and 66 percent of all net additions for 3GPP technologies in the quarter.
U.S. and Canada
HSPA subscriptions in North America grew by nearly 6.2 million. Net additions in the third quarter totaled 3.8 million for GSM-HSPA. This was the largest number of new customers for any wireless technology in the U.S. and Canada.
Total 3GPP subscriptions (GSM-HSPA) in the U.S. and Canada hit 143.8 million as of September 2010. In the 12 months ending September 2010, 3GPP technologies grew by nearly 14 million subscriptions compared to the 10 million new CDMA subscriptions. At the close of the quarter, 3GPP technologies achieved nearly 45 percent market share in the U.S. and Canada.
“For North America, subscriptions to UMTS-HSPA mobile broadband are expected to overtake 2G GSM technologies in the fourth quarter of 2010,” stated Mike Roberts, Principal Analyst at Informa Telecoms & Media. “3G technology subscriptions are forecast to surpass 2G in Canada in 2011.”
Latin America and Caribbean
The Latin America and Caribbean region continued to increase in market share for 3GPP technologies, rising to 93.4 percent and adding 14.5 million new subscriptions in the third quarter. UMTS-HSPA contributed significantly to this number, with 5.2 million new subscriptions for the quarter. In the 12 months ending September 2010, 3GPP technologies added a total of 64.2 million including 18.8 million UMTS-HSPA connections.
“Latin America continues to adopt 3G data services at a very rapid pace; 36 percent of all new wireless subscriptions during the third quarter were HSPA technology,” said Erasmo Rojas, Director of Latin America and the Caribbean for 4G Americas. “HSPA+ has also been commercially launched in two countries of the region (Bermuda and Chile) with many more expected during 2011. The increased appetite of users for data and value added services has helped the Latin America operators to steadily increase their data revenue contribution to 19 percent of ARPU.”
HSPA- World Leading Mobile Broadband Technology
With 579 million subscriptions as of September 2010 and 372 commercial HSPA networks worldwide, HSPA is by far the world’s leading mobile broadband technology. Operators are quickly upgrading their networks and providing high speed data for their customers.
All Roads Lead to LTE
Informa Telecoms & Media forecasts that there will be 1.5 million LTE subscribers in the U.S. at the end of 2011 increasing to more than 70 million at end of 2015.
“The U.S. will be the largest LTE market in the world through 2015 due to high mobile broadband penetration rates, the increasing popularity of smartphones and early LTE launches by Metro PCS and particularly mobile market leaders Verizon Wireless and AT&T, which plan to launch the technology in late 2010 and mid-2011, respectively,” Roberts said.
LTE is the leading mobile broadband next-generation technology with more than 250 operators worldwide that have publicly expressed interest in deploying the technology — including CDMA, Greenfield, GSM and WiMAX operators. There are nine commercial networks worldwide today and 11 additional operators are expected to launch services before the end of this year.
Statistical Charts
For more information and to view a variety of statistical charts on the 3GPP family of technologies, visit www.4gamericas.org.
About 4G Americas: Unifying the Americas Through Mobile Broadband Technology
4G Americas is an industry trade organization composed of leading telecommunications service providers and manufacturers. The organization’s mission is to promote, facilitate and advocate for the deployment and adoption of the 3GPP family of technologies throughout the Americas. 4G Americas contributes to the successful commercial rollout of 3GPP mobile broadband technologies across the Americas and their place as the No. 1 technology family in the region. The organization aims to develop the expansive wireless ecosystem of networks, devices, and applications enabled by GSM and its evolution to LTE. 4G Americas is headquartered in Bellevue, Wash., with an office for Latin America and the Caribbean in Dallas. More information is available at www.4gamericas.org.
4G Americas’ Board of Governors members include: Alcatel-Lucent, América Móvil, Andrew Solutions, AT&T, Cable & Wireless, Ericsson, Gemalto, HP, Huawei, Motorola, Nokia Siemens Networks, Openwave, Powerwave, Qualcomm, Research In Motion (RIM), Rogers, Shaw Communications, T-Mobile USA and Telefónica.
About Informa Telecoms & Media
Informa Telecoms & Media (ITM; www.informatm.com) conducts primary and secondary research on the latest trends impacting the mobile communications, fixed communications and TV sectors, on a global basis. ITM’s market intelligence services — World Cellular Information Service (WCIS), World Broadband Information Service (WBIS) and the Intelligence Centre — give clients access to market forecasts and key performance indicators (KPIs), as well as detailed analysis and exploration of trends. These comprehensive and reliable data sources combined with access to a team of dedicated analysts provide clients with essential business tools to assist in their strategic and tactical decision making processes. ITM also organizes over 100 annual events bringing together the industry’s leading decision makers.
Contact:
Vicki Livingston
4G Americas
+1 262 242 3458
Email Contact
Joel Robinson has spent the last 30 years developing products that increase fuel efficiency. He currently has been awarded 10 patents for his work ranging from his first product called the Platinum FuelSaver and for his work on reducing harmful emissions from diesel engines and his latest invention, the Robinson Engine Head, which recent EPA test data shows up to a 48 percent increase in gas mileage. His company National FuelSaver is headquartered in Boston, Massachusetts. The Platinum FuelSaver injects a platinum vapor into the combustion chambers of the engine by inserting a T connector into a vacuum line and feeds a platinum vapor into the engine where it increases the amount of fuel that burns inside your engine from 70 percent to over 90 percent. This technology has received truth in advertising credentials after Federal Judge Walter Jay Skinner described the product as “effective” and then awarded Joel Robinson $22,787. His Platinum Injector for diesel has numerous accolades for reducing the smoke and the vibration and noise that come from diesel engines. Recently his product, the Platinum FuelSaver, has begun sponsoring the Michael Savage radio show better known as the Savage Nation. As time goes by his work has been getting noticed. Recently University of Kentucky published a white paper led by Dr. Trevor Griffith Ph.D. in chemistry, who gave an excellent review of Joel Robinson’s work with Platinum and Rhodium. Has latest product, the Robinson Engine Head, has gotten the attention of Motor Trend, the Wall Street Journal, Morning Star and Forbes. The Robinson Engine Head is getting final EPA test data and is expected to launch in spring of 2011 from National FuelSaver in Boston. For further information call 1-800-LESS-GAS or visit www.nationalfuelsaver.com.
Carl Maddox
Platinum FuelSaver
(480) 560-5218