InvestSource Inc.: Cody Ventures Goes to Next Level with Flagship Property

Jul 07, 2008 (M2 PRESSWIRE via COMTEX) -- GOFH | Quote | Chart | News | PowerRating -- Stocks in the News: Cody Ventures Corporation (PINK SHEETS:CVCP), GoFish Corporation (OTCBB: GOFH), CSC (NYSE: CSC), SourceForge, Inc. (NasdaqGM:LNUX)

July 3, 2008 -- Cody Ventures Corporation (PINK SHEETS:CVCP) announced today a relaunch date for their flagship property, TheOuterPost.Com. The company stated that they will be relaunching the second phase of their social networking website on August 31st, 2008. The website will be completely redesigned and will have several new and unique features. The Outer Post will be relaunched as a "social commerce" website with all of the members having the capability of building a store on their homepage in order to sell their intellectual and creative property. The website will transfer all of its current members seamlessly and will keep to its niche of "young creative types" while offering more features to continue website growth and excitement. The art, fashion, music and culture pages will offer more unique multimedia content while the other user pages will be updated with new designs and communication features, including a brand new instant messaging and group chat system. The Outer Post will also offer a new text messaging platform where users can text anyone in their fan club at no cost to them. The Outer Post relaunch will also include a new advertising platform including banner ads and text messaging ads, in addition to transaction fees for users selling their items on the website that will all work to increase website revenue.

July 3, 2008 -- GoFish Corporation (OTCBB: GOFH, www.gofishcorp.com), a leading online youth entertainment and media network, has closed the remaining $2 million portion of a previously announced private placement financing totaling $3.5 million. The financing, including the initial $1.5 million announced in April 2008, has now been fully subscribed. In this second closing, GoFish sold to certain accredited investors unsecured convertible original issue discount notes due June 8, 2010, with proceeds of $2 million to GoFish (prior to the payment of approximately $32,000 in fees related to the transaction) and related warrants for investors to purchase an aggregate of 2,284,414 shares of GoFish common stock with an exercise price of $1.75. The notes, which mature on June 8, 2010, are discounted 15% from their respective principal amounts and can be converted into shares of GoFish common stock 181 days after the date of issuance at a conversion price of $2.06 per share. Both the notes and the warrants have certain anti-dilution protections. Several employees and affiliates of GoFish participated in the second closing and acquired notes with a purchase price of $1,125,000 and warrants to purchase 1,284,982 shares of GoFish common stock. "This financing will help us to continue establishing GoFish's dominance as a thought leader in immersive online brand advertising targeting youth and moms," said Matt Freeman, CEO of GoFish.

July 3, 2008 -- CSC (NYSE: CSC | Quote | Chart | News | PowerRating) announced today that it has signed a new information technology (IT) outsourcing contract with Urenco, a leading supplier of enriched uranium to nuclear power utilities worldwide. The new six-year agreement, which is valued at US$22 million (10.9 million pounds sterling), follows a seven-year, 23 million pounds sterling IT outsourcing contract Urenco awarded to CSC in March 2007. CSC currently provides Urenco with a full range of IT services, including desktop support, help desk services, applications development and network support, in support of its global transformation program to align best-of-breed processes across all of its plants. With the new agreement, CSC will expand coverage to include Urenco's wholly owned subsidiary LES, which is responsible for the building and operation of Urenco's new National Enrichment Facility in New Mexico, U.S. The new facility, which is Urenco's first U.S.-based plant, is the first major commercial nuclear facility to be licensed in the U.S. in 30 years and is scheduled to open in 2009. CSC also supports the company's operations in Washington, D.C., and in the UK, the Netherlands and Germany. "Urenco is the supplier of choice for nuclear fuel worldwide," said Helmut Engelbrecht, Urenco chief executive officer. "Our strategy of 'growth through investment' has continued to prove successful by providing nuclear fuel services close to our customer base. A comprehensive global IT service is an essential factor in supporting our international operations and planned future expansion." "We are pleased to broaden our relationship with Urenco," said Guy Hains, president of CSC's European Group. "CSC's significant expertise in the nuclear industry and track record in modernizing and integrating applications to drive innovation will help Urenco achieve its critical transformation program goals."

July 3, 2008 -- SourceForge, Inc. (NasdaqGM:LNUX), the leader in community-driven content and media, today announced the finalists of its third annual SourceForge.net Community Choice Awards. The Community Choice Awards allow the open source community to recognize its most innovative projects through an open nomination and voting process. This year, projects outside of SourceForge.net are eligible to win, ensuring that the voice of the community is heard broadly and without limitation. During the month-long nomination phase, the community chose finalists in each category. The voting phase, which is open until July 18, 2008, will determine each category's final winning project. Winners will be announced on July 24, 2008 at the awards party hosted by SourceForge at the Jupiter Hotel in downtown Portland, OR. "Open source is built on a spirit of collaboration, so it makes sense that we honor our best and brightest through collaborative choice," said Ross Turk, SourceForge.net Community Manager. "The community has nominated more projects this year than ever before, and our list of finalists is diverse enough to ensure some pretty close races. I think every vote is going to count!"

Market Wrap for July 3, 2008: After opening appreciably higher, the stock market closed Thursday just above the unchanged mark as participants traded listlessly in a shortened session just ahead of the Independence Day holiday. The Nasdaq, however, finished with a loss as weakness in the semiconductor industry weighed on the index. Notably, the latest batch of economic data also failed to spur buying interest.

The stock market fell to just above the 1250 mark shortly after opening bell, but was able to climb into positive ground amid broad-based gains. Still, the advance was limited as leadership failed to emerge. Action in the largest sector, technology (+0.1%), was offset by energy (-0.5%), which is the second-largest economic sector.

Technology's advance was held in check by weakness among semiconductor companies. NVIDIA (NVDA 12.49, -5.54) plummeted 30% after providing a disappointing outlook to its investors after yesterday's close. Shares of Intel (INTC 20.66, -0.27) also dipped in response to the announcement.

While economic news did little to kick start buying, it did not turn participants away. The unemployment rate for June came in at 5.5%, exceeding the 5.4% rate that was expected. Nonfarm payrolls fell by 62,000 during the month, unchanged from the prior month, but a bit more than economists expected. Jobless claims for the week ending June 28 totaled 404,000, reflecting a loosening labor market. The week's claims topped the 385,000 claims economists expected and were up from the prior week. Importantly, the data are consistent with a modestly growing economy and are not far enough from expectations to alter such an economic outlook.

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