PennyPerformers.com: Pennyperformers.com "Penny Stocks that Perform" picks are: CNEH, COBT, COYN, CPHI, EREI

Aug 07, 2008 (M2 PRESSWIRE via COMTEX) -- EREI | Quote | Chart | News | PowerRating -- Pennyperformers.com "Penny Stocks that Perform" picks are: China North East Petroleum Holdings, Limited (OTCBB: CNEH), C2 Global Technologies Inc. (OTCBB: COBT), COPsync, Inc. (OTCBB: COYN), China Pharma Holdings, Inc. (OTCBB: CPHI), EAGLE ROCK ENTERPRISES, INC. (PINKSHEETS: EREI | Quote | Chart | News | PowerRating) and Proudly Introducing Proprietary Push Technology (PPT).

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Aug 06, 2008 -- China North East Petroleum Holdings, Limited (OTCBB: CNEH), a leading oil producing company in Northern China, today announced that the Company has developed several new documents designed to improve its corporate governance standards.

At the Company's recent Board of Director's meeting that occurred on August, 5, 2008, the Company approved of new guidelines designed to improve its corporate governance standards. These policies, most of which can be found in the investor relations section of the company's website ( http://www.cnepetroleum.com ), include:

-- Company Code of Conduct -- Audit Committee Charter -- Corporate Governance Guidelines -- Nominating & Corporate Governance Committee Charter -- Compensation Committee Charter -- Insider Trading Policy

Mr. Hongjun Wang, President of China North East Petroleum, commented, ''We are pleased to implement these corporate governance standards at CNEH. In addition to our appointment of three independent members to our Board of Directors in late May, the implementation of these additional corporate governance policies and charters further readies our company for a listing on a major U.S. exchange, which we hope to achieve by the end of our current fiscal year. We are pleased with our progress and look forward to further enhancing our profile among the investment community.''

ABOUT CHINA NORTH EAST PETROLEUM

China North East Petroleum Holdings Ltd. is engaged in the production of crude oil in Northern China. The Company has a guaranteed arrangement with the Jilin Refinery of PetroChina to sell its produced crude oil for use in the China marketplace. The Company currently operates four oilfields in Northern China.

Aug 06, 2008 -- C2 Global Technologies Inc. ("C2" or the "Company") (OTCBB: COBT | Quote | Chart | News | PowerRating) today reported its financial results for the second quarter ended June 30, 2008. All amounts are stated in US dollars.

The Company had net income of $0.3 million or $0.01 per common share, basic and diluted, for the second quarter of 2008, compared to a net loss of $0.4 million or $0.01 per common share, basic and diluted, for the second quarter of 2007.

For the second quarter of 2008 the Company's revenue from continuing operations was $1.9 million, compared to $0 for the second quarter of 2007. The revenue is from a settlement and license agreement that the Company entered into in May 2008 with respect to the Company's intellectual property.

For the six months ended June 30, 2008, the Company had net income of $2.1 million compared to a net loss of $1.0 million for the six months ended June 30, 2007. The net income per common share for the six months ended June 30, 2008 was $0.09, basic and diluted, compared to a net loss of $0.04, basic and diluted, for the six months ended June 30, 2007. The Company's revenue from continuing operations for the six months ended June 30, 2008 was $8.1 million. All of the revenue is from three settlement and license agreements entered into with AT&T, Verizon and Sprint. The Company had no operating revenue for the six months ended June 30, 2007.

On June 13, 2008, the United States federal court (the "Court") issued a claim construction ("Markman") ruling in the Company's ongoing patent litigation, which was begun in June 2006. The Court rejected the claim constructions of the defendants on each of the nine disputed claim terms, while construing six of them in the manner originally proposed by the Company. For the other three claim terms, the Court adopted a construction that had not been proposed by either side.

"We are extremely pleased with our continued success in licensing our patents to companies with the stature of AT&T, Verizon and Sprint, and with the outcome of the Markman hearing. We plan to continue to pursue licenses from other entities that are using our patented technology, which includes corresponding patents in Australia, Canada, China and Europe", said Allan Silber, Chairman and CEO of C2.

Please see the Company's Annual Report on Form 10-K for the year ended December 31, 2007, filed with the SEC on March 11, 2008, and the Company's Quarterly Report on Form 10-Q for the three months ended June 30, 2008, filed with the SEC on August 5, 2008, for further information.

About C2 Global Technologies Inc.

C2's business is focused on licensing its patents, which include two foundational patents in VoIP technology. C2 plans to realize value from its intellectual property by offering licenses to service providers, equipment companies and end-users that are deploying VoIP networks for phone-to-phone communications. C2 also invests in Internet-based e-commerce businesses.

Aug 6, 2008 -- COPsync, Inc. (OTCBB:COYN), a software technology provider to law enforcement and emergency service professionals, announced today that while attending the Texas Sheriffs' Association 130th Annual Training Conference, the Company received 51 requests from Texas Sheriffs' Offices to provide an on-site demonstration of the information collection and sharing capabilities of the COPsync(tm) software.

COPsync(tm) is the first and only integrated software product that provides a real-time, nationwide information sharing network for law enforcement officers. The software enables officers to instantaneously identify criminals, communicate with other officers, and access life saving and mission critical information via laptop computer or handheld devices.

"To date, interoperability between law enforcement agencies in the United States fails to exist. COPsync fulfills the interoperability role through the deployment of its proprietary software," stated COPsync CEO Russell Chaney. "The COPsync software is an overlay technology that can be deployed without jeopardizing existing vendor relationships. Additionally, COPsync, Inc.'s method of data integration will bring existing vendors into compliance with federal mandates established after 9/11. COPsync(tm) provides critical and life saving information in real-time to notify, warn, and protect officers. We call it 'Electronic Body Armor'. Based on our ability to create immediate information sharing, at the point of incident, many of the Texas Sheriffs requesting Agency demonstrations stated that they would assist in getting other jurisdictions to attend our meetings, especially those located within their County."

"As a law enforcement professional myself, it is very exciting to know that 51 Texas Sheriffs have stepped up to the plate and made a conscious decision to bring their respective agencies into a new age of law enforcement," stated COPsync President Shane Rapp. "Law enforcement in our nation cannot continue to operate in a one off mode of information data collection and storage. This group of Texas Sheriffs who made the decision to request our presence at their location is truly representative of the fact that Law Enforcement is ready to move forward into an age where criminals can no longer hide beyond jurisdictional boundaries. I am proud of the fact that Texas Law Enforcement agencies are not only supporting information sharing, but aggressively seeking out solutions to create information sharing."

About COPsync, Inc.

COPsync (OTCBB:COYN) is positioned to become one of the fastest growing software technology providers to law enforcement and emergency service professionals worldwide. COPsync, Inc. is the only Law Enforcement software provider to provide full information sharing capabilities to all subscribing agencies in real time at the point of incident directly to the patrol officer.

Aug 06, 2008 -- China Pharma Holdings, Inc. ("China Pharma") (OTCBB: CPHI) which develops, manufactures, and markets generic and branded bio-pharmaceutical products in China, today announced its financial results for the second quarter of 2008.

Second Quarter 2008 Highlights -- Second quarter revenues increased 31.6% to $11.28 million -- Net income increases 21.32% to $4.04 million -- Sales of bio-product Cerebroprotein increased 125.26% year-over-year.

-- EPS was $0.10, up 15.92% year-over-year

First Half Year 2008 Highlights -- Revenue increased 45.51% for the same period in 2007 to $23 million -- Net income was $8.23 million, up 44.34% for the same period in 2007 -- EPS was $0.22, up 39.25% for the same period in 2007 -- Company completed capital raise of $10 million -- Company launched Bumetanide injection in June 2008

Second Quarter of 2008 Results (Unaudited):

Revenues for the second quarter of 2008 increased 31.6% to $11.3 million compared to $8.6 million for the same quarter in 2007. The growth in revenues was primarily due to organic growth of the existing product portfolio and increasing overall enhanced marketing efforts.

Quarterly gross profit for the second quarter of 2008 was $6 million, compared to $3.9 million for the same period last year, with gross margins of 52.8% and 45.5% respectively. The increase of gross margins was favorably impacted by the increase of revenues of our high margin products. The increase in gross margin reflected the management's clear vision of product selection and development.

Total operating expenses for the three months ended June 30, 2008 were $1.6 million compared to $0.53 million for the same period last year, mainly due to increased revenue and operating expenses. Selling expenses for the period increased to approximately $0.46 million from 0.33 million in the second quarter of 2007, which is due to the Company's investment in overall marketing. General and administrative expenses were $0.45 million in the three months ended June 30, 2008, an increase of $0.16 million, or 55.2% compared to the second quarter of 2007. The increase was primarily due to public relations expenses.

Operating income for the second quarter of 2008 totaled $4.4 million, a 30.6% increase, compared to $3.4 million for the same period in 2007. Operating margins were 39.0% compared to 39.3% for the second quarter of 2008 and 2007, respectively.

Net income was $4 million, representing an increase of 21.4% from $3.3 million reported in the same period a year ago. The company had an effective tax rate of 5.5% versus 0% during the second quarter of 2008 and 2007 respectively as the new PRC Enterprise Income Tax Law took effect on January 1, 2008, imposing a unified EIT of 25% on all domestic and foreign-invested companies. China Pharma is allowed a gradual transition to the new 25% tax rate over the next five years and the Company is qualified for a 50% discount of its income tax rate. As a result, the estimated Enterprise Income Tax rate is at 9% in 2008. Earnings per diluted share were $0.10 compared to $0.09 based on 39 million and 37.2 million diluted shares outstanding, respectively. The variance in shares relates to the capital we raised which closed on May 30, 2008.

"We continued to experience strong year-over-year revenue and earning growth from our current portfolio of products combined with stable profit margins, especially during the traditional slow quarter compared to the first and fourth quarters. We believe the results validate the plan that management has been implementing to focus on therapeutics targeting high mortality and high incidence diseases which yield high gross margins. We expect the benefits of these efforts will continue into the future as well. Additionally we launched Bumetanide injection and began recording revenues in June 2008. We are optimistic that this new drug will further improve our profitability and be another growth contributor to our top-line and bottom-line numbers," Ms. Zhilin Li, President and CEO of China Pharma, commented.

Six Month Results

Revenue increased approximately 45.5% to $23 million for the six months ended June 30, 2008 as compared to $15.8 million for the same period last year. Operating expenses for the six months ended June 30, 2008 were $2.7 million compared to $2 million for the same period in 2007, an increase of 36.7%. Operating income for the six months ended June 30, 2008 was $9 million, an increase of 73.5% compared to $5.2 million for the six months ended June 30, 2007.

Net income was $8.2 million for the six months ended June 30, 2008, an increase of $2.5 million, or approximately 44.3% compared to same period last year. This equated to earnings of $0.22 per diluted share, compared to $0.15 per diluted share for the first six months of 2007 based on 38.1 and 36.8 million diluted shares respectively.

Balance Sheet and Cash Flow Discussion

Cash and cash equivalents and restricted cash totaled $7 million on June 30, 2008 compared to $0.68 million on March 31, 2008. The Company had $51.5 million in working capital on June 30, 2008 and a current ratio of 11.3 to 1. Stockholders' equity was $60.1 million on June 30, 2008, representing a book value of approximately $1.42 per diluted share as of June 30, 2008. Part of the net proceeds from this financing will be used for the expansion of the dry power production line. Its production capacity will increase 4 times after this expansion.

CEO Ms Li concludes, "The new rural co-operative medical system is a government funded program; the government is investing in medical insurance for the rural population, and has opened a potential multi-billion dollar market. From the government's endeavors, the new healthcare reform program is especially directed towards expanding medical coverage, and directly increases all aspects of the pharmaceutical market. The medical reforms will be a powerful driver of a rapid and strong increase in the growth of the pharmaceutical industry. From numbers released by the SFDA news center, improvements to the RCMS will continuously boost the expansion of the pharmaceutical market.

According to calculations of a rural population of 900 million, this will increase the market by more than RMB 60 billion. The financing closed during the second quarter is sufficient to finance our new product capacity, to develop high margin products, and to launch more products that meet the need of the market. The requirements of the SFDA have raised the entrance barrier of pharmaceutical enterprises, the GMP-recertification once every five years forced a sharp increase in standards of production facilities and R&D ability of the industry. The SFDA's newly-adopted regulations caused some of China's pharmaceutical companies to close, while other companies chose to sell out their products and distribution network to others who could meet the new regulation. We are advantageously positioned in an industry full of opportunities and challenges. The consolidation of the industry provides many opportunities for mergers and acquisitions."

Conference Call

China Pharma will host a conference call on Wednesday, August 6 at 10:00 am EDT to discuss second quarter 2008 results. To participate in the conference call, please dial the following number ten minutes prior to the scheduled conference call time: (800) 591-6945 International callers should dial (617) 614-4911. The conference pass code is 11374834.

If you are unable to participate in the call at this time, a replay will be available on Wednesday, August 6, at 12:00 pm EDT, through Wednesday, August 13. To access the replay, dial (888) 286-8010. International callers should dial (617) 801-6888. The conference pass code is 77875355.

This conference call will be broadcast live over the Internet and can be accessed by copying and pasting this link into your web browser: http://phx.corporate-ir.net/playerlink.zhtml?c=145098&s=wm&e=1914439 . A replay of the call will also be available on China Pharma's website http://www.chinapharmaholdings.com .

About China Pharma Holdings, Inc.

China Pharma Holdings, Inc. develops, manufactures, and markets generic and brand bio-pharmaceutical products in China that treat a wide range of conditions, including infections, liver diseases, cardiovascular and CNS diseases, and other prevailing diseases. Helpson Bio-pharmaceutical Co., Ltd (Helpson), a specialty pharmaceutical company headquartered in Haikou City, Hainan province in China, is a wholly owned subsidiary of China Pharma Holdings.

Aug 05, 2008 -- EAGLE ROCK ENTERPRISES, INC. (PINKSHEETS: EREI | Quote | Chart | News | PowerRating) (EAGLE ROCK) is pleased to announce a strategic partnership with the BLIND VENDORS OF ILLINOIS. John Gordon, President of the Illinois Committee of Blind Vendors for 12 years and First Vice President of the Randolph Sheppard Organization stated, "The purchasing economics of the NATIONAL BLIND ENTERPRISES CO-OP (a subsidiary of EAGLE ROCK) allows our vendors to maximize their sales volume potential and coordinate their inventory needs."

Gordon further added, "The quarterly reports from our distributors will reflect significant increases for the major brands such as M&M, Pepsi, Frito-lay, Kraft, Kellogg's and others involved in EAGLE ROCK's national Plan-O-Gram program."

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