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November 10, 2008: Zynex, Inc. (OTCBB:ZYXI), a provider of pain management systems and electrotherapy products for medical patients with functional disability, announces it received on November 7, 2008 CE marking according to EC-Directive 93/42/EEC on its NeuroMove and TruWave devices for sales in Europe. Thomas Sandgaard, CEO, commented: "The CE marking allows us to sell these products in the EU and we also anticipate it will help the process of regulatory approval in many other countries outside of Europe."
November 10, 2008: Praebius Communications Inc. (PINKSHEETS: PRCM | Quote | Chart | News | PowerRating) has announced that its Ad Systems business booked Revenue for October, exceeded the previous quarter's revenue numbers. Ad sales are continuing to run strong into November. Ad Systems Sales in over 30 locations is running at or near capacity for prime time sales on all major cable networks such as TNT, CNN and Fox News. Bob Hall, Chairman, said, "Ad Systems Revenue will continue to grow as we deploy more systems and mature our advertising assets. We expect to continue to increase our ad revenue as we begin to roll out a local and regional ad sales effort. Up to now we have been targeting National advertisers exclusively. We also have another 5 cable systems scheduled for installation before year end that will help with the trend."
Martin Alcock, C.T.O., said, "We are looking to finish the fourth quarter 2008 in the black; if this revenue trend continues which, with an early Holiday ad campaign from our current and future advertisers, could help us accomplish this goal. We are focused on building clusters of cable subscribers where we have established systems, which will magnify our per-sub revenue while minimizing costs. Our own traffic and billing system addige.net is handling the volume quite nicely."
November 10, 2008: Good Life China Corporation http://www.goodlifechina.com/ (Pink Sheets: GLCC | Quote | Chart | News | PowerRating) the company issued a news release on or about July 2, 2008 where amongst other things it announced that it has completed the completion of the strategic partnership with Hebei branch of Agricultural Bank of China (ABC). This is an update to the aforementioned news release. Haorizi and ABC, Hebei Branch has now successfully launched the ABC online banking service to the company's franchised outlets and to the companies B2B merchants. ABC will open accounts for the current suppliers and retailer members of Haorizi. Outlets can order, and make an immediate payment via USB-shield card at www.huozhan.com. This system is relatively easy and simple to operate. Moreover, it has a good reputation among members. The management feels this will represents improved cash flow and further earning revenue for Good Life China
November 10, 2008: SpongeTech Delivery Systems, Inc. America's Cleaning Company(TM), (OTC Bulletin Board: SPNG - News), is pleased to reported revenues in excess of $2,500,000 USD from sales at the AAPEX Auto Show (November 4-6, 2008, in Las Vegas, NV). SpongeTech exhibited its line of auto-care products during its third consecutive appearance at AAPEX, the world's largest business-to-business event for the nearly $300 billion automotive aftermarket industry. Athletic greats and celebrity Company spokespersons Baseball Star, Darryl Strawberry and NASCAR Craftsman Truck Series driver #7 TJ Bell, were on hand during the trade show at the SpongeTech booth for meet-and-greets, product demos, and more. SpongeTech COO Steven Moskowitz said, "I am very pleased with our recent presence at AAPEX, the new orders generated there, and the growing receptivity toward our product line in the marketplace. We are receiving tremendous interest in our cleaning delivery technology both here and abroad, with special excitement surrounding our new household products and children's bath product lines. I hope to announce a major event with our children's bath product line in the very near future." This successful trade show appearance comes after the Company had previously announced anticipated revenue projections of $35,000,000 to $40,000,000 for the fiscal year 2009 starting May 31, 2008. Since October 1, 2008, SpongeTech has received new orders in excess of $5,000,000 for Auto-Care and Pet-Care Products. Eighty percent (80%) of these new orders are from new customers with the balance "reorders" from existing customers.
Market Wrap for Monday, November 10, 2008: Stocks fell Monday as concerns regarding financial and automaker companies overshadowed news of a massive Chinese fiscal stimulus and a restructuring of AIG's (AIG 2.28, +0.17) government bailout.
The S&P 500 opened 2.3% higher as overseas markets rallied on the Chinese fiscal stimulus plan, but gave up those gains as the financial sector faltered. In the end, the S&P 500 fell 1.3% in below average volume with eight of the ten economic sectors posting a loss.
China will spend $586 billion, equal to a 18% of its GDP, in a plan to support its domestic economy and restore global economic health. The two-year package will target a broad range of industries, including housing, infrastructure and health care.
In corporate news, AIG rose 8% on word its bailout from the U.S. government has been amended, including an expansion in aid to $150 billion from $123 billion and better loan terms. The move is meant to give AIG more time to sell assets after losing $24.5 billion in the third quarter, and stands to reassure investors that the insurance giant will be able to satisfy its counterparty obligations.
Despite the strength in AIG, the financial sector dropped 4.4%, with notable weakness in Goldman Sachs (GS 70.94, -6.87). Goldman had its fourth quarter earnings estimate cut to a loss of $2.50 per share from a profit of $2.71 at Barclays. Barclays cited dramatic equity market declines. On average, analysts expect Goldman to post fourth quarter earnings of $1.46 per share.
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