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August 25, 2008 -- Monarch Staffing, Inc. (Other OTC:MSTF.PK), and its wholly owned subsidiary Drug Consultants, Inc., a provider of healthcare staffing services, announced the launch of Nurse Consultants, a new operating division focused on the nurse staffing business.
Nurse Consultants will be lead by Edwina Chong, Executive Vice President, a nurse staffing industry veteran. Prior to joining Drug Consultants, Inc., Ms. Chong built one of the largest local nursing recruitment and staffing firms in the country. From 2001 to 2007, she was Area Manager with Supplemental Health Care where she grew annualized revenues in excess of $21 million.
"I am extremely excited to lead the growth of our new operating division," commented Ms. Chong.
Nurse Consultants has opened a new office in Fresno, CA to house its sales & marketing, recruiting and scheduling operations.
"The launch of Nurse Consultants and the opening of a new operating office in Fresno advances our plan to penetrate the growing nurse staffing business. Additionally, we expect the launch will help diversify Monarch Staffing's service offerings and customer base," commented David Walters, Chairman.
August 26, 2008 - ValueRich, Inc. (AMEX:IVA), and Starlight Investments, LLC have terminated their Stock Purchase Agreement effective immediately. The parties, however, plan to explore other strategic business alliances in the future.
On August 21, 2008, ValueRich entered into a Marketing and Technology Agreement with Syndicated Capital, a full service broker dealer. Syndicated Capital will provide an array of full-service brokerage services including but not limited to, an online trading platform, respective clearing services, trading services, back office support, administration, compliance and customer support. Syndicated Capital will be providing the online trading platform and related services through their clearing agent, Pershing LLC.
Joseph Visconti, CEO of ValueRich stated, "Our relationship with Syndicated Capital will allow ValueRich to use its marketing and technology platform to assist companies in raising capital, going public and attracting shareholders. By leveraging our technology, the ValueRich brand asset and our network of qualified professionals with Syndicated Capital's innovative online banking platform, we are hoping to change the way small-cap funding is accomplished."
August 26, 2008 - USA Technologies (NASDAQ:USAT) today launched the next generation VM2iQ with improved customer benefits, greater market appeal and for a lower price.
USA Technologies has reduced the cost of manufacturing the new VM2iQ technology, enabling the company to lower the price and improve return on investment for their customers. The new VM2iQ has an ROI that in most cases is less than 9 months.
The newly manufactured VM2iQ was designed to respond to growing customer demand, and comes with all the features of the original VM2iQ. It incorporates the same innovative, intelligent technology that installs inside the vending machine to control the cooling system, allowing the lighting and controller electronics to stay on while the machine is in energy-savings mode.
USA Technologies has reported that EnergyMiser sales are trending approximately 35 percent higher over last year, with the biggest increases in the next generation VendingMiser VM2iQ where sales have more than doubled.
A distinctive upgrade to the new generation VM2iQ is that it is now RoHs Compliant. RoHs restricts the use of hazardous materials in electronic products in an effort to reduce the stream of hazardous waste sent to landfills. California and a growing list of U.S. states are proposing mandates for the use of RoHs compliant products. This also meets an EU Market directive that bans the use in Europe of new electrical and electronic equipment containing more than agreed upon levels of lead, cadmium, mercury, hexavalent chromium, polybrominated biphenyl (PBB) and polybrominated diphenyl ether (PBDE) flame retardants.
August 26, 2008 --IA Global, Inc. (AMEX:IAO) Mark Scott, COO/CFO of IA Global, Inc. made the following comments on the development of IA Global, Inc.
joined the company in late 2003. We were a small entity with no revenues, a net loss of $3.1 million, total assets of $4.2 million and stockholder's equity of $2.7 million for the year ended December 31, 2003. In the recently announced results for the three months ended June 30, 2008, we reported revenues of $19.7 million, net income of $.7 million, total assets of $41.7 million and stockholder's equity of $15.6 million. As I travel to the Asia markets, including Japan, it is clear that these markets are growing and labor markets are tight. We are benefiting from the expansion of the outsourcing business and an aging population in Japan, where consumers are increasingly buying third market insurance products to supplement their government provided insurance. These trends provide opportunities for the company to expand its business in the future."
Finally, Mr. Scott commented, "I am excited with the development of this business and its future prospects. Investors should carefully review the progress of our business and consider this in their investment decisions."
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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