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Aug 04, 2008 -- GeneLink, Inc. (OTCBB: GNLK), a leading consumer genomics biotech company, announced the launch of GeneWize Life Sciences(TM) Inc. Over 1,500 new Affiliates and their guests attended the two-day launch held in Orlando, Florida on August 1-2.
Monte Taylor, GeneLink's CEO, noted that "We are pleased and excited to announce that during the GeneWize pre-launch, over 4,700 Independent Marketing Affiliates joined the GeneWize marketing organization. In terms of Affiliate enrollments, GeneWize has already exceeded our first-year projections."
Through GeneWize, its wholly owned subsidiary, GeneLink has now successfully launched the first direct selling industry company to focus exclusively on marketing nutritional supplements and skin care products specifically tailored to an individual's genetic makeup. GeneWize will market and distribute its proprietary LifeMap Nutrition(TM) and LifeMap Skin Care(TM) customized products to consumers in North America through a network of Independent Marketing Affiliates.
Utilizing GeneLink's patented and patent pending genetic profiles, customers of GeneWize will be able complete a simple, non-invasive GeneLink Healthy Aging Assessment(TM). The assessment results are used to help guide the manufacture of each customer's formula which is created from over 177,000 combinations of ingredients. Customers also receive a detailed assessment summary and complete listing of the ingredients contained in their personal formula.
GeneWize also plans to offer its LifeMap Skin Care System(TM) in 2009. Utilizing GeneLink's patented genetic assessments and science, GeneWize looks forward to providing customized personal skin care products, manufactured for and tailored to an individual's genetic needs.
"We are committed to leveraging the proven marketing potential inherent in the direct selling model to help provide truly personalized, science - based nutritional and skin care products," added Mr. Taylor. "The timing is excellent as the significance of genetics in enabling a personal approach to products that promote wellness has become an important initiative in consumer health care. We are proud to be a leader in the consumer genetic revolution."
About GeneLink, Inc:
GeneLink is a 14-year old leading Biosciences Company specializing in consumer genomics. GeneLink's patented and patent pending technologies include proprietary genetic assessments linked to personalized health, beauty and wellness applications. Its DNA assessments provide information that enables the customization of nutritional products, skincare products and health maintenance regimens designed to fulfill individual consumer needs. For more information visit www.genelinkbio.com
About GeneWize Life Sciences, Inc.:
GeneWize is the first Direct Selling industry company to focus exclusively on providing individually customized nutritional and skin care formulations based on a consumer's personal genetic assessment. The company's mission is to empower individuals to take personal responsibility and control of their health.
Its LifeMap Nutrition System(TM), Healthy Aging Assessment(TM) and LifeMap Skin Care System(TM) offer a revolutionary new scientific approach to delivering formulations that truly address individual needs. GeneWize is committed to innovating and manufacturing the highest quality, scientifically proven health, beauty and wellness products.
Aug 04, 2008 -- NeoMedia Technologies, Inc. (OTCBB: NEOM), the global leader in mobile barcode scanning, announced today that it has received an $8.7 million financing commitment from YA Global Investments, LP -- a private investment firm that specializes in structured finance and direct investments, subject to NeoMedia achieving certain agreed upon milestones over the next six months.
The funds will accelerate implementation of NeoMedia's aggressive go-to-market plans under new CEO, Iain McCready. These plans will focus on providing mobile barcode scanning infrastructure to carriers, NeoReader scanning software to handset manufacturers and code implementation products to the advertising community. NeoMedia also offers flexible and creative IP licensing models to enable each of these constituents to develop solutions that enrich the mobile barcode ecosystem.
"We have great confidence in Iain and believe he will be a successful steward of our investment by leveraging NeoMedia's expertise and technology to bring barcode scanning technology into the mainstream. Iain understands the importance of interoperability and standardization in enabling a global ecosystem. More importantly, he understands the path to revenue realization is predicated on disciplined product strategy and operational precision," stated Jerry Eicke, partner at Yorkville Advisors.
"Obviously, we are pleased by Yorkville's continued investment in our business. They have been supportive partners in NeoMedia's efforts to establish a business system the world can embrace. The time is now for NeoMedia to leverage our strong intellectual property, technology solutions and industry expertise to mobilize this mobile barcode ecosystem," stated Iain McCready, CEO of NeoMedia. "It's taken a lot of time and effort to get the vision and relationships in place. Now we are well positioned to execute our product roadmap and provide best-in-class experiences for our customers, partners and consumers."
"By providing access to NeoMedia's IP and championing interoperability, global adoption of mobile barcode scanning can be achieved. Our funding provides NeoMedia with the support needed to develop next generation products and enable global support of its IP licensing efforts," added Jerry Eicke, partner at Yorkville Advisors.
About NeoMedia Technologies, Inc: NeoMedia Technologies, Inc. (OTCBB: NEOM) is the global leader in optically initiated wireless transactions, bridging the physical and mobile world with innovative direct to web technology solutions. To provide a robust high-performance infrastructure for the processing of optical codes NeoMedia extends their offering with award winning Gavitec technology. Located in Germany, Gavitec AG-mobile digit is a leader in development and distribution of mobile scanners and software for mobile applications. In addition, Gavitec provides standardized and individual solutions for mobile marketing, couponing, ticketing and payment systems.
Aug 04, 2008 -- Quest Minerals & Mining Corp (OTCBB: QMNM | Quote | Chart | News | PowerRating) (Frankfurt: QMNBF), a company that acquires and operates energy and mineral related properties, reported on 1 August that its operations have now reached a state where it can move into full production mode. Production goals have since been raised up to 1,000 to 1,300 raw tons per shift, as the engineers have calculated the proper directional coordinates, enabling the company to spread working sections out across the full seven headings.
Operational status went into full production and coal was cut for eight hours allowing the company to meet the necessary tonnage requirements, commented Everett Hampton, president of Whitestar Mining LLC, the mining and production process partner.
Aug 04, 2008 -- Road Wings, Inc. (PINKSHEETS: RDWG | Quote | Chart | News | PowerRating) announced updates regarding the previous news that its funding partner, OneFi Technology, Inc., has been approved and has currently acquired a full Telco operating license for the Island Nation of Jamaica. OneFi Technology networks broadband signal will allow the citizens of Jamaica to access the internet at speeds up to 104 mbps. Additionally, the network will allow for VoIP, IPTV and first run movie downloads. The network design allows for ready expansion and Dr. Al Omran, the CTO of OneFi Technology, states, "Today's networks must allow for constant upgrades and the OneFi WiMax/ WiFi network gives us an opportunity to capitalize on easy upgrades at a minimum of expense."
As promised in the original Jamaica acquisition announcement, the specific operating license details would allow OneFi access to the existing 200,000,000 minutes per month of international origination and termination business which currently exists between the USA and the Island Nation of Jamaica. Mr. V. Pierson, VP for OneFi who negotiated the license, said, "The initial startup revenues to OneFi should exceed $1,000,000 the first year, and as it expands throughout the Island, substantially more."
The standard network allows for 802.11b-g, but the OneFi Technology network design incorporates WiMax 801.16e signal which will go as far as twenty miles. Also, OneFi Technology uses 802.11b-g and n to allow last mile user access. OneFi will also be installing its IPTV in beta format in Jamaica with users on a new technical platform. Many residences in Jamaica only have had access to traditional landline access because of pricing or lack of accessibility in the Island Nation.
Aug 04, 2008 -- Luxury home builder WCI Communities, Inc. (NYSE:WCI), which has a large project in Tampa, filed for Chapter 11 bankruptcy protection this morning.
This comes after the Bonita Springs-based company failed to obtain new financing and some holders of $125 million convertible notes insisted last week on being paid in cash in August.
The bankruptcy documents were filed in U.S. Bankruptcy Court in the District of Delaware.
As part of the restructuring, Chief Executive Officer Jerry Starkey will leave the company and David Fry will serve as interim CEO, WCI says today in a written statement.
"The company, with all diligence, has attempted to avoid a bankruptcy filing," the company's chairman, billionaire investor Carl Icahn, says in the written statement.
"However, the filing became necessary because of the recent failed effort to obtain financing and the recognition that the company's entire $1.8 billion of debt may soon be in default."
In a Chapter 11 filing, companies can reorganize debt and other obligations with an eye toward emerging in better financial shape.
Shares tumbled almost 50 percent in morning trading, falling 60 cents, to 66 cents. They traded as high as $10 a share during the past 52 weeks.
Locally, WCI Communities is known mostly for developing Sun City Center in southern Hillsborough County. Another project, Westshore Yacht Club, overlooking Tampa Bay in South Tampa, is under construction.
It was not immediately clear how the bankruptcy will affect Westshore Yacht Club.
In November, the developer said construction was on hold until the real estate market improved.
Westshore Yacht Club is on 74 acres and initially included plans for 539 homes. One of three planned towers is complete. At least 60 percent of the single-family homes and town homes planned for the project are complete.
Before the filing, the company reached a definitive agreement with its principal secured lenders regarding the terms on which the company will have access to more than $50 million cash to continue operating its business.
The company, which began developing master-planned communities in 1946, said it will continue to sell, build and deliver homes.
WCI has properties in Florida, Connecticut, Maryland, New Jersey, New York and Virginia.
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