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Jul 30, 2008 -- Cross Atlantic Commodities, Inc. (OTCBB: CXAC), manufacturers and distributors of nationally branded commodities, food and general merchandise to food stores, supermarkets and club stores, announced today it is in discussion with a leading television shopping channel consultant for product placement of Re-Juv(TM) on TV shopping channels nationwide.
Jorge, Bravo. President and CEO of Cross Atlantic Commodities, Inc. (CXAC), commented, "In addition to our direct response commercials CXAC is moving forward to launch Re-Juv(TM) on TV shopping channels"
TV shopping channels introduce approximately 250 new products weekly to a worldwide audience of more than 80 million households, ship 60 million products and answer more than 50 million calls with annual sales over $3 billion. Top shopping channels include QVC and HSM.
"CXAC did extensive research into TV shopping and concluded that we needed the assistance of an expert. CXAC found a specialty organization that has widespread knowledge and a proven track record of success in marketing products on TV shopping channels. Initial purchase orders by TV shopping channels range from $15,000 to $25,000 and could be as much as $50,000. Should Re-Juv(TM) be successful the purchase orders could be frequent and substantial. The agency of choice is boutique marketing and sales firm with experience that could springboard Re-Juv(TM) into a household consumable," state Bravo.
"It is imperative that we align ourselves with an agency with experience, a good reputation and a successful track record. Until we sign a definitive agreement, CXAC is unable to disclose the name of the agency. Nevertheless, the agency of choice has experience and knowledge of bringing products from conception to the shelves of many national retail stores by way of TV shopping channels," continued Bravo.
The demographic group that would consider Re-Juv(TM) is female between the ages of 25 - 60.
Bravo concluded, "Once a definitive agreement is signed we will begin to schedule product interviews with well known TV shopping channels. The consultant will cut through the red tape, allowing us to talk directly with decision makers and set our schedule according to their needs and interest. We are very excited to be at this point and anticipate a successful round of interviews in the coming weeks".
About Cross Atlantic Commodities, Inc.:
Cross Atlantic Commodities, Inc., manufactures, distributes and markets specialty food products and general merchandise to large food chains, clubs and mass merchants. Through our moniker, Import Foods Division, we assist overseas manufacturers in the conformities of US packaging and label standards. Our proprietary brand, Fruit2 Go(R), is a unique and healthy fruit snack packaged in a squeeze pack of our own design. Spray n Shine is our environmental friendly waterless wash & wax that can clean up to 5 cars in a single can without the use of water or soap.
Cross Atlantic Commodities, Inc. is a fully reporting company trading on the OTCBB under the symbol "CXAC."
Jul 31, 2008 -- EAGLE ROCK ENTERPRISES, INC. (PINKSHEETS: EREI) announced today that the Company has completed the PINKSHEETS.COM application paperwork required to facilitate a visible quote.
July 31, 2008 -- Heritage Capital Credit Corporation (PINKSHEETS: HCPC) today posts limited second quarter 2008 financial information on websites: http://www.heritagecapitalcreditcorp.com and on http://www.pinksheets.com.
The financial information posted represents the balance sheet and income statement, as of June 30, 2008 and for the 3 months ended June 30, 2008, respectively, for Heritage. This information has been prepared by company management from information maintained by the company management and may not comply in all respects with generally accepted accounting principles.
About Heritage Capital Credit Corporation
The Heritage business model, which is implemented through its subsidiary, Independent Capital Credit Corporation, is to arrange funding for real property and commercial revenue producing assets.
Jul. 30, -- IndyMac Bancorp, Inc.(PINKSHEETS: IDMC). Given the recent events at Pasadena-based IndyMac Bancorp and the closing of 1st National Bank of Nevada and First Heritage Bank by the Federal Deposit Insurance Corp. on Friday, one community bank is working to calm nervous depositors by suggesting they insure accounts beyond the standard FDIC coverage.
Despite the fact that only 90 of the nation's approximately 8,500 banks and savings associations are currently on the FDIC's list of problem banks, depositors wishing to safeguard their accounts that have balances greater than $100,000 are creating additional accounts, an emerging trend noted in a recent News-Press story.
Another alternative for consumers is to use a bank that takes part in the Certificate of Deposits Account Registry Service -- or CDARS (pronounced "cedars") -- which enables consumers to get up to $50 million in FDIC insurance, said Lynda Nahra, president and CEO of Goleta-based Community West Bank, which has been part of the network for three years. "There are only a few of us locally," added Nahra. "I imagine more will be."
Calls to other Santa Barbara County community banks to inquire about their CDARS participation were not returned.
"We've certainly had more phone calls and people coming in for (all kinds of) information," said Nahra, talking about depositors jittery over news reports. Staffers are spending a lot more time discussing ways of optimizing FDIC protection and the CDARS program, of which about 2,150 institutions, or a quarter of all U.S. banks, participate. Some recent customers for the latter are retirees, business owners, nonprofits and fund managers.
CDARS offers depositors at the bank the "safety and convenience of one-stop deposits, rate negotiations and a single consolidated statement for all CDs." According to Nahra, the bank has approximately $28 million in customer CDARS. "I believe this speaks to the wealth in our community, as well as customers becoming more educated and protecting their assets better."
In times when many individuals and businesses deal with multiple banks to obtain $100,000 of FDIC coverage at each institution, Nahra said bank management believes they offer a "real convenience for customers" by offering CDARS.
The CDs go to well-capitalized banks that have been vetted by Promontory Interfinancial Network, which debuted CDARS to the public in 2003 after a year of development costing in the neighborhood of $20 million. Most of Promontory's founding members and top managers are former FDIC executives.
Here's how it works:
An investor buys a CD worth $500,000 at a bank affiliated with the network. Promontory takes the uninsured portion, $400,000, and using its proprietary database, matches the money with a network of custodian banks around the country. The custodian banks each get a share of the $400,000, then transfer an equal amount back to the first bank. If someone has a million dollars, that money would be divided at 11 institutions because Promontory, which is based in Arlington, Va., likes to keep the principal and accrued interest under $100,000. About 15 percent of customers are local governments, but individuals account for the largest group with an average account size ranging from $400,000 to $500,000. At the end of the year, depositors receive statements from the originating banks plus a 1099 statement.
Use of the product has doubled nationally since July, and it's gaining momentum in the Golden State, said Phil Battey, a Promontory spokesman. Out of the 314 FDIC-insured institutions in California, 141 banks are members of the network, said Battey. Additionally, 31 banks in the state have asked to join the network in the past eight days.
"It's been an interesting couple of weeks," said Battey, referring to the level of intensity as the banks file the paperwork to be part of the network. Consumers aren't charged for the service. A network employee manages the swaps in exchange for fees paid by the banks -- usually 12 cents for every $100 in deposits. Banks pay set-up charges ranging from $4,000 to $35,000, depending on bank size.
But don't expect to see banks with deposits exceeding $1 billion -- such as Wells Fargo and Bank of America -- using the system. By design, the service is offered only at community and regional banks, said Battey.
A spokeswoman for Wells Fargo confirmed this, saying the bank doesn't participate in the network, believing the best way for customers to keep their deposits safe is to take full advantage of FDIC insurance coverage.
They can do this by diversifying the ownership of all their accounts, including individual, joint tenant and revocable trust accounts.
While reluctant to comment in depth on the IndyMac bank failure, both Mr.
Battey and Nahra cited the institution's extremely risky mortgage practices. Nahra said community banks, in general, "are mostly interested in taking local deposits and lending those funds back into the community, whether it's housing or businesses."
Jul 31, 2008 -- JayHawk Energy, Inc. (OTCBB: JYHW | Quote | Chart | News | PowerRating) ("JayHawk") welcomes Marshall Diamond-Goldberg as a new member of JayHawk's Board of Directors. With the appointment of Mr. Diamond-Goldberg, JayHawk's Board of Directors now comprises four independent directors and one executive director.
Mr. Diamond-Goldberg is a seasoned geologist with over 25 years of experience and expertise in the oil and gas arena. His extensive working knowledge and particular focus in the Williston Basin will serve as a great asset to JayHawk's current business initiatives as the Company has leaseholds and production on 15,500 gross acres for development in this area. Mr. Diamond-Goldberg's most recent positions included President of Strand Resources, Ltd., which was sold earlier this year. Additionally, he was co-founder of Trend Energy, Inc., which was sold in 2004. He was also a co-founder and President of Manhattan Resources, Ltd., which ultimately became a part of Fairborne Energy Trust. Prior to the above, Mr. Diamond-Goldberg held senior geological posts with Imperial Oil Resources, Ltd., Texaco Canada Resources, Ltd., Tiber Energy Corporation and Suncor Energy, Ltd. His contributions have been instrumental in assisting companies from startup levels, through the drill bit, to point of sale.
"It is my pleasure to welcome Mr. Diamond-Goldberg to our distinguished Board. In our effort to build a solid foundation from which we can thrive, we continue to pursue the most qualified individuals with the vision to broaden our corporate horizon and the knowledge to lead our management initiatives," Lindsay Gorrill, President & CEO of JayHawk Energy, said. "Mr. Diamond-Goldberg's tremendous experience and personal integrity will prove invaluable to the Company as we continue to execute on our business plan."
About JayHawk Energy, Inc.
JayHawk Energy, Inc. is a managed risk, oil and gas exploration/exploitation, development and production company with activities focused on two major projects in the Cherokee Basin, Kansas and the Williston Basin, North Dakota. For more information please visit www.jayhawkenergy.com.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this press release, such as probable, possible and potential, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Examples of such disclosures would be statements regarding "probable," "possible," or "recoverable" reserves among others.
Management hopes these transactions will bring additional value to the shareholders of JayHawk Energy. There is no guarantee that the projects that JayHawk has recently acquired will increase the value of its shares of common stock, or that JayHawk will acquire rights to explore and operate any other such projects, or that in the event that it acquires rights to explore and operate other such projects, that these actions will be successful or increase the value of JayHawk's common stock.
July 30, 2008 -- Capital Oil & Gas, Inc. a wholly owned subsidiary of Podium Venture Group, Inc. (OTCBB: PODM), today reported second quarter revenues.
For the second quarter the company reported revenues from operations of $6,840,126 (six million eight hundred forty thousand and 126 dollars) with net results of $684,000 (six hundred eighty four thousand dollars)
The company expects a significant increase in revenues for the third quarter as the month of July is showing an increase (to date) in revenues of approximately 28%; the company believes that these numbers will come in as projected.
The company believes the increase in revenues is due to the switch in brand names from Valero to Chevron and its lower than the competition pricing policies.
"We are very pleased the revenue numbers are much better then expected and believe with the additional outlets being added we should exceed all projected revenues for this year," said Mr. Ariel Rodriguez, President & COO.
About Capital Oil & Gas, Inc.:
Capital Oil & Gas operates retail filling stations/convenience stores throughout the State of Florida; the company is aggressively seeking additional acquisitions that can meet its financial criteria.
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