Turning Pennies into dollars: (OTCPK: CGMI), (OTCPK: AQUA), (OTCPK: ARGW), (OTCPK: BDGW).
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February 26, 2008 -Competitive Games International, Inc(OTCP: CGMI), a new player in the growing Casual Games market, announced that the Company has entered the prolific social networking arena and has developed its own games application for Facebook.
The Competitive Games Facebook Application -- CGI Book -- has been approved by the networking giant and is now directly accessible at Facebook.com. This new application is available to all Facebook users and provides access to the Company's games and tournaments universe within the Facebook environment. Moreover, each Facebook member can upload the Competitive Games Application directly into their own profile for immediate access to, and usage of CGI games.
According to the announcement, The surge of social networking in recent years has transformed the Internet. The phenomenon has created websites with enormous, loyal user bases and has established a new and accepted method of sharing information. This is particularly true in the case of Facebook, which is believed to have over 60 million registered users. By creating a presence within the Facebook community, Competitive Games hopes to provide quality gaming options for millions of Facebook users, gain increased brand recognition, and attract more users to its own burgeoning membership base.
Competitive Games will continue to develop the online offering in such a way that all functionality will become accessible via the Facebook Application. Specifically, Facebook users will have increased access to CGI tournaments, prizes and content within the Facebook environment. This newly launched application also provides direct access to the Competitive Games Website.
Julio Collado, chief executive officer of Competitive Games International, stated, "Tapping into the social networking phenomenon is a huge step forward for Competitive Games. It provides a great opportunity for brand development, name recognition and most importantly the potential exposure to millions of potential players for our skill games network. Our goal is to continue capitalizing on this trend by introducing our CGI Book Application into other popular social networking sites. Additionally, we plan to continue to drastically increase our international exposure, paving the way of the future for Competitive Games."
About Competitive Games International, Inc. (OTCPK: CGMI)
Competitive Games International (CGI) is a new and innovative Skill Games (or Casual Games) Company that uses a strategic Affiliate Marketing program -- Multi Tiered Affiliate Marketing(TM) (MTAM) -- to encourage both game play and the distribution of CGI products and services. CGI provides a unique web-based Skill Games arena that allows members and players alike to play games for fun or for money against other members. The MTAM system allows individual members to market CGI products and services to others and subsequently earn revenues by way of a revolutionary compensation structure. Revenues for the company are generated from the retail sale of CGI products and services, Skill Game play, advertising and future licensing agreements. For more information about CGMI visit www.competitivegames.com.
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February 26, 2008-AquaCell Technologies, Inc.(OTCPK: AQUA) announced that it has sold and installed its first solar powered air conditioners at a Reliance Industries facility in Mumbai, India.
According to the announcement, India is one of the ideal markets for AquaCell's solar air conditioner, given the high heat and humidity, coupled with an unreliable power grid and an average of 300 sunny days per year. According to the United Nations, approximately 45 percent of people in India are hooked up to an unreliable power grid, and endure daily power failures. Solar power offers a clean and reliable solution to the power grid issue and the expensive "dirty" fossil fuel alternatives being used. AquaCell is thrilled to be providing its innovative technology to an area with such need.
The Indian government is supplying incentives to its largest companies to develop alternative energy, particularly solar. AquaCell has begun discussions with major companies in India, including Reliance Industries, Moser Baer, Tata BP Solar-India and Solar Semi-Conductor, who are leading the solar initiative in India.
About Aquacell Technologies, Inc. (OTCPK: AQUA)
Aquacell Technologies, Inc. doing business as GreenCore Technology, through its subsidiary, Aquacell Water, Inc., engages in the manufacture and sale of water filtration and purification products for various water treatment applications.
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February 27, 2008 -AR Growth Finance Corp. (OTCPK: ARGW)announced that it has acquired 95% of Probenefit S.A. ("Probenefit") (the "Acquisition"). Probenefit is a privately owned Argentine based holding company comprised of pension and insurance companies as well as a consumer credit card company.
According to the announcement, Probenefit had approximately $19.2 million in revenue and $3.2 million in profits for the year ended December 31, 2007, operating as a holding company for the following Argentine companies: (1) Unidos S.A. AFJP, a private pension plan management company, (2) Trayectoria Compana De Seguros De Vida S.A., a life insurance company and (3) Nexo Emprendimientos S.A., a consumer credit card company.
Probenefit has just acquired control of additional pension and insurance companies during February 2008. After these acquisitions, its pension related companies will have approximately $800 million in assets under management and its insurance companies approximately $250 million in assets under management. Further, it provides its financial services through 1,000 employees in 50 offices to over 500,000 clients across Argentina.
The purchase price paid by AR Growth to Probenefit for the Acquisition was comprised of the following: (1) $7.5 million cash ($2.5 million has been paid and the remaining $5 million to be paid through the issuance of a senior note), (2) a $12 million convertible subordinated debenture (due December 15, 2010 and convertible into common stock of AR Growth at a conversion price of $2.56 per share), and (3) 11,521,055 newly issued shares of AR Growth. As a result of the Acquisition, AR Growth will have 20,266,688 shares of common stock issued and outstanding. This completed transaction supercedes the transaction described in AR Growth's previous press release dated December 6, 2007.
About AR Growth Finance Corp. (OTCPK: ARGW)
AR Growth is a Delaware corporation based in Miami, Florida established to invest in finance-related companies in Argentina and ultimately throughout South America. The major shareholders of AR Growth include: (i) Southern Trust Securities Holding Corp., (OTCBB: SOHL ), the holding company for the Coral Gables, Florida based broker-dealer and investment banking firm, Capital Investment Services, Inc.; (ii) Administracion de Carteras S.A., an Argentine investment banking advisory company and (iii) Inversora Castellanos S.A., an Argentine company directed and owned by former managers of SanCor, the largest dairy cooperative in Argentina.
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February 27, 2008- Budget Waste Inc. (OTCPK: BDGW) released financial information comparing third quarter revenue to past performance.
For the nine months ended December 31, 2007, the Company reported revenues of $12,129M ("M" representing thousands), an increase of $4,882M, or 674%, from $7,247M in the nine months ended December 31, 2006. While the company instituted price increases during the nine months which included fuel surcharges, the greatest growth was from the effect of the acquisition of five of the thirteen companies acquired during the last two years.
Results also show revenue of $4,160M for the quarter ended December 31, 2007, an increase of $1,929M, or 864%, from $2,230M in the quarter ended December 31, 2006.
The gross margin for the nine months ended December 31, 2007 of $3,153M represented 26% of revenue as compared to $1,625M for the nine months ended December 31, 2006 or 22%. Efficiencies resulted from moving all vehicle repairs and maintenance from outside vendors to an in house mechanical shop. Consolidation of operations also contributed to a more positive result. The company has also made changes in driver compensation in order to decrease driver overtime.
Selling, general and administrative expenses increased from $3,417M for the nine months ended December 31, 2006 to $4,164M for the nine months ended December 31, 2007. This increase of $747M was only 22% considering revenue increased 674%. This is as a result of the ten acquisitions. However, the percentage of revenue for December 2007 was only 34% as compared with 47% for December 2006. The positive trend was gained from efficiencies of the consolidation of the companies. The company has also significantly decreased wages and benefits from $500M to $398M as it streamlines its administration and management.
The quarter ended December 31, 2007 also showed positive improvement of the quarter ended December 31, 2006. Overall selling, general and administrative expenses were $1,491M or 35.8% of revenue as compared to $1,105M or 50% of revenue for the periods December 31, 2007 and December 31, 2006 respectively.
About Budget Waste Inc. (OTCPK: BDGW)
Budget Waste Inc. is a waste solutions company in Western Canada providing complete waste and recycling services to commercial, industrial, construction, homebuilding, oilfield and residential clients.
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