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Air Transport Group Holdings (OTCBB: AITG | Quote | Chart | News | PowerRating) announced this morning that it has completed the acquisition of Miami-based Technical Aero Services (www.techaero.com). Technical Aero Services boasts yearly revenues of over $3,000,000 per year, and revenues in 2009 are expected to exceed $4,500,000.
ATG Holdings seeks further acquisitions in aviation, travel and leisure-time industries. Additional business combinations will be announced this year. 2009 represents ATG's first full year of operation as a corporate entity. Management forecasts revenue in excess of $14 million (versus $11 million in 2008) and Earnings Per Share are projected at $0.20 (versus $0.12). Beyond, management projects EPS to increase 50% to 60% annually.
Air Transport Group CEO Arnold Leonora said of this acquisition, "This is the first step of a multi-faceted business plan. With this acquisition, we will not only continue to provide services to other airlines, but will be able to provide product-and-equipment services to our own forthcoming acquisitions in the airline and transportation industries." Mr. Leonora added, "By consolidating the outside services that most airlines utilize under one family of companies, our business model of lowering infrastructure costs will enhance annual EPS growth, and ultimately, return to shareholders."
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SpongeTech Delivery Systems, Inc. (OTCBB: SPNG), down 1% on 24 million shares, announced yesterday that its CEO and President, Michael Metter, was interviewed on Steve Crowley's American Scene Radio Show at 9:42 a.m. EST. The interview can be heard live on BusinessTalkRadioNetwork(R) affiliate radio stations streamed on its website, www.businesstalkradio.net. You can find local radio stations by accessing the website, as well. Mr. Metter will be scheduled for future interviews on American Scene, where he will keep listeners updated on SpongeTech(R)'s products and developments.
SIRIUS XM Radio (Nasdaq: SIRI), up 1% on 54 million shares, today announced the launch of MiRGE, the first interoperable satellite radio. MiRGE allows subscribers to easily switch between SIRIUS and XM, allowing them to receive all the dynamic and exclusive commercial-free music, news, talk, sports and comedy channels and shows from both services. Subscribers will have access to all the exclusive SIRIUS XM music, talk and comedy channels and shows, including Howard Stern; Martha Stewart Living Radio; Oprah & Friends; SIRIUS NFL Radio and play-by-play of every NFL game; the MLB Home Plate channel and play-by-play of every Major League Baseball game; SIRIUS NASCAR Radio and broadcasts of every NASCAR race; play-by-play of NBA and NHL games; PGA TOUR events; and live games from hundreds of college teams.
Intellect Neurosciences, Inc. (OTCBB: ILNS), up 17% on 3 million shares, a biopharmaceutical company focused on development of disease-modifying therapeutic agents for the treatment and prevention of Alzheimer's disease (AD), announced yesterday that it has granted a non-exclusive License to a top-tier global pharmaceutical company regarding certain of Intellect's patents and patent applications related to antibodies and methods of treatment for Alzheimer's disease and to make, have made, use, sell, offer to sell and import certain licensed products.
General Electric (NYSE:GE), down 4% on 70 million shares, announced yesterday it is expanding its award winning telematics solution to Canada, the company announced today. The offering, which was rolled out in the United States in 2006, gives companies with fleets of vehicles the critical line of sight into how their assets are performing in real time. "Now more than ever, businesses are looking for smart, efficient ways to reduce operating costs while simultaneously increasing productivity. Our solution provides an answer, offering a powerful suite of back-office fleet support services with robust analytics all on one easy to use integrated platform," says Stephen Ulanoski, General Manager, GE Capital Solutions Telematics program.
The Goldman Sachs Group, Inc. (NYSE: GS), down 5% on 12 million shares, yesterday announced a significant investment in the rebuilding of the C.J. Peete Apartments Housing Complex. The announcement was made at a groundbreaking ceremony for the new development, which was also attended by Secretary of Housing and Urban Development Steve Preston, New Orleans Mayor Ray Nagin, General Douglas O'Dell, federal coordinator for Gulf Coast Rebuilding, as well as representatives of the Housing Authority of New Orleans, the state of Louisiana, and the City of New Orleans.
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