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October 13, 2008 -- Edgetech International, Inc. (together with its wholly-owned subsidiary, "Edgetech" or the "Company") (Other OTC:EGIL.PK) is pleased to announce that The PC Edge is now available for purchase on Amazon.com. It can be found by searching "The PC Edge Palm-Sized Computer with High Speed Internet" on Amazon.com.
Through our new relationship with Amazon.com, the PC Edge and its line of accessories are now available for purchase. The PC Edge can be found several ways through the popular search engines such as Google, Yahoo, and Ask, as well as in the Electronics department on Amazon.com.
"The PC Edge" is the Fastest Mobile Internet Device which delivers High Speed Internet Access, displaying full HTML web pages, graphics and java script. "The PC Edge" offers a desktop web experience, together with a full QWERTY Keyboard, Access to Office Suite of programs, 50 GB storage and Remote PC Access.
Edgetech CEO Lev Parnas stated, "As we move forward with our plan to prepare for the 2008 holiday season, we have increased our internet sales channel presence through this relationship with Amazon.com. We will continue to look to increase our retail and internet sales channel as a part of our strategic business plan."
October 13, 2008 -- Emtec, Inc. (OTCBB:ETEC), an information technology systems and services company, today announced that Duval County Public Schools (DCPS), the 19th-largest school district in the U.S. based in Jacksonville, Florida, selected the company to supply and implement a new technology infrastructure for more than 160 schools (105 elementary, 26 middle, 19 high, and 11 other centers and charter schools) and approximately 125,000 students. This contract is a one-year contract with four subsequent one-year renewals should Duval wish to extend at the end of each year for a total of five years. The school district is working on an initiative called "DCPS Schools of the Future", which is intended to maximize student achievement and student engagement through the use of technology.
Emtec empowers students by providing a full range of technologies to the County including: HP servers, server options, storage, and storage options; Lexmark printers; Lenovo desktops, laptops, high-end workstations, monitors, options, and thin clients; APC uninterruptable power supplies; Avocent KVM's and RKM's, Microsoft Software; VMWare Software; and miscellaneous hardware and software. Emtec will also provide an array of services including, but not limited to, all the installation services of Apple desktop and laptops, and the products of the previously mentioned companies, project management services, and disposal services.
October 13, 2008 -- Postilion, a leading provider of software solutions for self-service banking and payments and a division of S1 Corporation (Nasdaq: SONE), today announced that Mashreq, the largest privately held bank in the United Arab Emirates, has replaced its existing payment switch infrastructure with Postilion solutions. The new solutions from Postilion are being used to drive the bank's ATM network, point-of-sale (POS) terminals and to introduce new integrated POS services for retail merchants. For Mashreq, this implementation brings operational improvements, financial savings as well as delivering customers a faster, more efficient level of service at the ATM and POS.
Postilion was selected by Mashreq following an extensive investigation of the different payment processing solutions available globally. As the new infrastructure would replace a number of separate applications, it was critical that the system would be able to support all of the bank's existing channels and operate as a single integrated solution. Mashreq chose the Postilion solutions for Merchant Acquirers and ATM Owners to provide the functionality the bank required, while also establishing a flexible platform for the development of future channels and services. Replacing multiple applications with a single integrated solution also provides the bank with the ability to create consolidated reports on payment processing and performance to support better management decision-making.
Mashreq will use Postilion to support its operations across the Middle East region, including the UAE, Bahrain, Qatar, and Egypt. The bank currently has over 200 ATMs and 12,000 POS terminals installed, and the majority of these devices have already been successfully migrated to the Postilion platform.
October 13, 2008 -- SourceForge, Inc. (NasdaqGM:LNUX), the leader in community-driven content and media, has announced the launch of Hosted Apps, a new service for developers that provides instant, virtualized access to popular open source applications. SourceForge will centrally manage the infrastructure and security of Hosted Apps, allowing developers to innovate freely without being distracted by the maintenance of their project's infrastructure.
The inaugural application lineup contains three of the most widely used applications within the SourceForge community: phpBB (forum software), MediaWiki (the wiki platform that powers Wikipedia), and LimeSurvey (an online survey tool). Because the Hosted Apps platform allows SourceForge.net to easily add support for a wide variety of third-party open source applications, more applications are scheduled for deployment over the coming months.
"It's important for us to provide cutting-edge functionality to our community quickly and in a scalable fashion. Using a combination of popular open source tools and virtualization, we're able to get new features to our users quicker than we ever have," says Ross Turk, director of community at SourceForge. "Developers can be much more productive when they don't have to worry about maintaining their infrastructure, and this new offering allows them to use the tools they know and like without the burden of maintaining them."
Market Wrap for October 13, 2008 The S&P 500 posted its largest percent gain in 69-years on Monday, snapping an eight session losing streak in the process. The rebound was fueled by several governments taking steps to shore up the financial system and Morgan Stanley (MS 17.99, +8.31) completing its deal to receive a capital infusion from a Japanese bank.
The S&P 500 surged 11.6% in broad-based buying interest and ended the day at sessions highs following a late-session surge. The Dow rose 936 points -- its largest point gain ever and largest percent gain since 1933. All ten of the economic sectors rallied, with gains ranging from 7.2% (industrials) and 18.5% (energy). Overseas markets also rallied, Hong Kong's Hang Seng spiked 10.1%, and Europe's Eurostoxx 600 rose 9.9%.
With regard to the global efforts to help the financial markets, the Fed and other central banks announced plans to provide as much dollar liquidity as needed in short-term funding markets. The 15 eurozone countries said they will guarantee new bank debt until the end of 2009. In addition, several European countries announced plans to guarantee interbank landing and directly inject capital in financial firms. The U.K. government plans to inject up to $63 billion in three U.K. banks.
The U.S. is expected to outline a comprehensive plan of its own as soon as Tuesday, and is likely to include interbank lending and bank debt guarantees, and direct capital injections in financial institutions.
Investors will have a clearer picture of how credit markets will react to the measures on Tuesday when banks and the Treasury markets reopen. They were closed on Monday in observance of Columbus Day.
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