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CORRECTION: In a release dated August 26, InvestSource issued news related to ER Urgent Care Holdings, Inc. in which the disclaimer stated that InvestSource had agreed to be compensated 8,900,000 shares of ERUC. In fact, InvestSource was compensated 8,900,000 shares in February of 2008, and is no longer in possession of any shares of ERUC.
August 25, 2008 - ER Urgent Care Holdings, Inc. (Other OTC:ERUC.PK) is pleased to announce that the Company's Board of Directors has approved a plan to offer Shareholders the opportunity to exchange their Common Stock for shares of a new series of Preferred Stock. This plan calls for each one thousand shares of the Company's Common Stock tendered to be exchanged for one share of the Company's newly created Preferred Stock, having a stated value of $1.00 per share. The Company expects that the exchange will be based upon the value of Common Stock shares of $0.001 per share. The shareholders would also receive warrants to purchase additional shares of the Company's Common Stock at $.01 per share.
A shareholder must tender at least one million shares of Common Stock to qualify and take part in this exchange offer. The deadline for accepting the exchange offer and delivery of physical certificates to the Company's transfer agent is by the close of business on September 30, 2008. No conversion of the Series B Preferred Stock to Common Stock can occur until after a holding period of three months from the date of the new certificate. Thereafter, shareholders may convert the Preferred Stock into Common Stock.
ER Urgent Care also intends to retire all shares of Common Stock that are turned into the Company, which would dramatically reduce the size of both the number of outstanding common shares of stock and the float.
"The Board's opinion is that our current share price is not representative of its true value, and that following the exchange these shares should be trading at higher levels. Our Company is going through several significant transitions including the recent agreement with Cinergy Health, a large, nationwide health plan company, headquartered in Florida. We agree that a share exchange program is in the best interests of ERUC and its shareholders," stated Mark Solomon, President of ER Urgent Care Holdings, Inc.
To view the full terms of the Preferred Stock Exchange offer, please visit the following link: www.erucc.net.
August 26, 2008 - Universal American Corp. (NYSE: UAM | Quote | Chart | News | PowerRating) announced today that its Executive Vice President & CFO, Robert Waegelein, will present at the Keefe, Bruyette & Woods 2008 Insurance Conference on Wednesday, September 3, 2008 at 2:05 pm EDT at the Waldorf Astoria Hotel, in New York City.
Investors will be able to access the presentation live over the Internet via the Investor Relations section of the Company's website at www.universalamerican.com. A replay will be available within four hours of the closing of the live presentation and will remain available for 60 days.
August 26, 2008 - BioForce Nanosciences Holdings, Inc. (OTC BB:BFNH.OB), a leader in systems integration at the micro- and nano-scales to create products for the life sciences, is pleased to announce that it has entered into a collaboration agreement with the College of Nanoscale Science and Engineering ("CNSE") of the University at Albany through which faculty, scientists and researchers at CNSE will utilize the BioForce Nano eNabler(TM) molecular printer for the development and evaluation of novel applications.
The UAlbany NanoCollege is the first college in the world dedicated to education, research, development, and deployment in the emerging disciplines of nanoscience, nanoengineering, nanobioscience, and nanoeconomics. CNSE's Albany NanoTech Complex -- a $4.2 billion, 450,000-square-foot megaplex that has attracted over 250 global corporate partners -- is regarded as the most advanced research complex at any university in the world.
Dr. Nathaniel Cady, Assistant Professor of Nanobioscience at CNSE, will lead the research efforts in collaboration with Assistant Professor of Nanobioscience Dr. Magnus Bergkvist. Work to be performed will focus on the development of novel polymeric Surface Patterning Tools(TM) (SPTs) for the direct printing of live cells. Surface Patterning Tools are the microfluidic dispensers used by the Nano eNabler to print materials on a surface. A secondary goal will be to evaluate and optimize the Nano eNabler system for printing molecules onto a variety of surface materials.
August 26, 2008 -- Medical International Limited (NYSE: MR), a leading developer, manufacturer and marketer of medical devices in China, announced today that Mr. Jie Liu has been appointed Chief Operating Officer, effective August 21st, 2008. Mr. Liu will focus on enhancing the operations of the key departments across the Company, as well as working with other senior management in providing strategic guidance, implementation procedures and budget planning.
Mr. Liu has served as Mindray's executive vice president of international sales and marketing since 2007. Previously, Mr. Liu was Mindray's vice president of international sales and marketing.
''Mr. Liu brings years of experience and a deep knowledge of our company and the sector to his new position,'' commented Mr. Xu Hang, Mindray's Chairman and Co-Chief Executive Officer. ''I am confident his guidance and dedication will result in improved execution during an exciting and important time for Mindray, and I also believe his strategic guidance will serve Mindray's long term success as we continue to implement our growth plans for the future.''
Mr. Liu brings extensive professional experience to Mindray, as prior to joining the Company he worked within sales, marketing and product management with multinational companies such as Hewlett-Packard and Johnson and Johnson. He holds an MBA degree from Stephen M. Ross School of Business, the University of Michigan at Ann Arbor, an MS degree from Chinese Academy of Sciences, and a BE degree from Zhejiang University.
Market Wrap for August 26, 2008 -- The major indices ended Tuesday mixed in a choppy session that marked the lowest volume of the year.
The S&P 500 posted a 0.4% gain with seven of the ten economic sectors in the green. Only 856 million shares exchanged hands on the NYSE - the lowest amount of volume in 2008.
Crude prices traded in a volatile manner, falling 2.4%, and then spiking to a gain of 2.4% on threats of a hurricane in the Gulf of Mexico. Crude settled with a gain of 1.0% at $116.26 per barrel, while natural gas prices rallied 5.7%.
The energy sector (+1.8%) provided leadership.
Financials stocks fell to a 1% loss in afternoon trading on news that the FDIC increased the number of problem institutions to 117 in the second quarter from 90, with assets at problem institutions increasing to $78 billion from $26 billion.
The tech sector was the worst-performing area with a 0.4% loss.
On the economic front, July new home sales rose 2.4% to a seasonally adjusted annualized rate of 515,000 from a downwardly revised June reading of 503,000, according to the U.S. Department of Commerce.
Consumer confidence rose 9.6% month-over-month in August to 56.9, topping the median economist estimate of 53.0.
FOMC released minutes from its Aug. 5 meeting. The minutes did not tell the market anything it did not already know, and had a limited trading impact. DJ30 +26.62 NASDAQ -3.62 NQ100 -0.2% R2K +0.4% SP400 +0.5% SP500 +4.67 NASDAQ Adv/Vol/Dec 1520/1.46 bln/1296 NYSE Adv/Vol/Dec 1961/856 mln/1145
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InvestSource, Inc. is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. InvestSource, Inc. affiliates, officers, directors and employees may also have bought, or may buy the shares discussed in this opinion and may profit in the event of a rise in value. InvestSource, Inc. will not advise as to when it decides to sell and does not, and will not, offer any opinion as to when others should buy or sell; each investor must make that decision based on his or her judgment of the market InvestSource has received 5 million shares of Greenstone Holdings for services rendered. Please consult your broker before purchasing or selling any securities mentioned herein. To view full disclaimers, please go to http://investsourceinc.com/php/disclaimer.php (disclaimers).
This release may contain statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. The information contained in an InvestSource profile is provided as an information service only. The accuracy or completeness of the information is not warranted and is only as reliable as the sources from which it was obtained. InvestSource was compensated 8,900,000 shares of unrestricted stock of ERUC in February 2008 for services rendered. As of the date of this release, InvestSource no longer is in possession of any shares of ERUC. To view full disclaimers, please go to http://investsourceinc.com/content/disclaimer .
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