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September 26, 2008 - Red Reef Laboratories International, Inc. (Other OTC:RRLB.PK), a diversified scientific research, development, and marketing group announces it has successfully completed the acquisition of 100% of Myotrend Nutritional Technologies, LLC, a Pennsylvania limited liability company. The terms include a combination of a note, cash and 250 million RRLB restricted shares which represents approximately a 20% stake in Red Reef. The required form 8K will be filed directly.
Simultaneously the company entered into an employment agreement with Paul Burton who will continue in his role as President and CEO of Myotrend. Mr. Burton has presented Red Reef with a detailed marketing plan which has already been initiated successfully. As president and CEO of Myotrend Mr. Burton has RRLB's complete confidence and support to identify and penetrate markets worldwide. The addition of products provided by Versace Direct (a wholly owned subsidiary) and RRLB's family of products round out a complete and diverse line of Myotrend products targeting the health and wellness market in which RRLB has laid the groundwork to be a dominant player in the near future. Myotrend's uniquely integrated medicine, science, and athletic performance products bring the latest advances in nutritional technology to the marketplace. The acquisition is expected to generate recurring revenues and will provide Red Reef with a platform for sustained growth and earnings.
September 26, 2008 - Anpath Group, Inc. (OTC Bulletin Board: ANPG), reported today that its wholly owned subsidiary, EnviroSystems, Inc. (ESI) has entered into an arrangement with SmartPak Equine, LLC to distribute its equine care product, EquineTru Skin & Hoof Treatment through the SmartPak catalog and online store (http:///www.smartpak.com).
EquineTru Skin & Hoof Treatment, a multipurpose antiseptic solution, safely prevents and eliminates persistent and often debilitating skin and hoof ailments caused by micro-organisms. The product's active ingredient, Parachlorometaxylenol (PCMX) has been widely used as an antimicrobial in surgical hand and skin scrubs, antiseptics and disinfectants. It is also successfully used as a topical antiseptic for skin and mucous membranes, an antimicrobial in cosmetic formulations, and as a fungicide in a variety of applications. EquineTru Skin & Hoof Treatment has been reviewed and cleared for market by the Center for Veterinary Medicine (CVM) a division of the U.S. Food and Drug Administration (FDA). Further, its use is permitted for United States Equestrian Federation and Federation Equestre Internationale (FEI) regulated competitions.
September 26, 2008 - Celanese Corporation (NYSE: CE | Quote | Chart | News | PowerRating) today announced that all of its production facilities in the Gulf Coast have safely resumed operations following a controlled and successful shutdown due to Hurricane Ike. These facilities incurred minimal structural damage related to the storm.
The company estimates that the financial impact of the shutdown was between $10 million and $15 million of operating EBITDA. The company does not expect this impact to affect its current 2008 full year outlook for adjusted earnings per share of between $3.60 and $3.85.
September 26, 2008 - N-Viro International Corporation, (OTC Bulletin Board: NVIC), an environmental and materials handling company that owns patented technologies that convert various types of waste into the renewable biofuel N-Viro Fuel(TM), and Michigan State University, have agreed to extend their existing term sheet agreement through November 25, 2008.
The term sheet covers engineering and financial analysis to facilitate a long-term arrangement for the design, construction and operation of an N-Viro Fuel facility adjacent to the T.B. Simon Power Plant, which generates power for MSU. The extension was necessary to provide time to complete the unfinished processes as the original six-month deadline passed.
The extension means that the work under the Agreement must be completed by November 25, 2008. The final agreement remains subject to the satisfaction of various conditions, including negotiation and MSU Board of Trustees approval. Following the execution of a final agreement, construction of an N-Viro Fuel facility next to the T.B. Simon Power Plant should commence in mid-2009.
The East Lansing plant likely would be the first N-Viro Fuel production facility in operation. The Company already has a successful facility in Toledo, Ohio, that has been in operation for 19 years. It also has a larger plant in Daytona, Florida, that is operating at 50% capacity and can process 750 tons of waste a day when at full capacity.
Market Wrap for September 26, 2008 -
Uncertainty made its way back into the stock market Friday. Participants spent the latter part of this week awaiting approval of a federal asset purchase plan designed to help restore financial conditions.
Infighting is keeping congressional leaders from approving a $700 billion plan to purchase distressed assets from financial firms, intended to restore firms' balance sheets and capital markets.
JPMorgan's acquisition gives it the second largest branch network behind Bank of America (BAC 36.70, +2.33). Diversified financial service firms, effectively JPMorgan Chase, Bank of America, and Citigroup (C 20.15, +0.74), were some of the session's strongest players.
Their influence helped the Dow reverse an early 1.4% loss into a 1.1% advance. Financials were down as much as 3.2% early on. The sector rallied to close 3.2% higher.
In other corporate news, Research In Motion (RIMM 70.76, -26.77) posted solid revenue and net income growth for its latest quarter.
With only a few days remaining in the third quarter, economic data pertaining to the second quarter is of little issue anymore. In turn, market participants looked past lowered second quarter real GDP data.
The final real GDP reading indicated the economy expanded at an annual rate of 2.8% from the prior reading of 3.3%. Real final sales of domestic product increased 4.4%. DJ30 +121.07 NASDAQ -3.23 NQ100 -0.9% R2K -0.1% SP400 -0.7% SP500 +4.09 NASDAQ Adv/Vol/Dec 1173/1.97 bln/1614 NYSE Adv/Vol/Dec 1042/1.19 bln/2110
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This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or a solicitation to buy or sell securities. InvestSource, Inc. has prepared all material herein based upon information believed to be reliable. The information contained herein is not guaranteed by InvestSource, Inc. to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this release have not given an opinion or approved the statements made in this release. To view full disclaimers, please go to http://investsourceinc.com/content/disclaimer.
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 has agreed to be compensated 20,000,000 of restricted shares of RRLB for services rendered.
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