Monday, March 3, 2008

(Pink Sheets: BDGW), (OTCBB: GRMU), (OTCBB: CNEH), (OTCBB: OPTO).

Turning Pennies into dollars: (Pink Sheets: BDGW), (OTCBB: GRMU), (OTCBB: CNEH), (OTCBB: OPTO).

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Budget Waste Inc. (Pink Sheets: BDGW) (March 3rd, 2008) announced yesterday that the company is on track to realize a 55% increase in revenues over the previous year.

BWI is pleased to announce that a projected increase in revenues of 55% should be reached for the current year ending March 31, 2008. BWI has generated an average monthly income of $1,350,000 for the first 9 months of 2007, this calculates into year end revenue of approximately $16,200,000. This represents an increase of approximately $5,759,000 over the previous year's income of $10,441,000.

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. With our broad range of innovative services we offer our customers more value for their dollar and reduce accounting costs by providing streamlined billing. BWI is currently following its growth through acquisition strategy with exceptional success. With regulations throughout North America pressing companies and individuals to be more vigilant in the way they handle their waste products we see vast opportunity for expansion of our distinctive services. We are confidant that extraordinary growth and focus on customer needs will bring our stockholders outstanding value for the confidence they have placed in BWI.

For more info: http://grmu.realpennies.com

GREM USA (OTCBB: GRMU) (March 3rd, 2008) announced today that the Company is negotiating with a major U.S. based musical instrument retailer an agreement that would provide for an approximate $10 million in sales.

Edward Miers, President of GREM USA, stated, "We are presently working with a major U.S. based retailer on terms of an agreement which would provide GREM with up to $10 million in sales. The retailer has a presence in nearly every major market in the United States. The agreement would provide our Company with a nationwide distribution presence for our world-class guitars. The guitars crafted by GREM USA are of superior quality and have attracted an extremely loyal following among discerning musicians which has attracted the attention of more than one major U.S. based musical retailer."

Miers further stated, "We are presently working to negotiate an agreement that would provide this national retailer the opportunity to sell GREM guitars at each of the retailer's locations coast to coast. The agreement would provide the retailer the opportunity to become the first national retail outlet for the Company's guitars. We are committed to providing musicians with an instrument that is unmatched in quality and playability. National distribution of our products with a retailer that understands and appreciates our commitment to musicians has been of upmost importance to GREM USA."

For more info: http://cneh.realpennies.com

China North East Petroleum Holdings Limited (OTCBB: CNEH) (March 3rd, 2008), an oil producing company in Northern China, announced yesterday that it has entered into a $15 million debenture agreement with Lotusbox Investments Limited, a wholly owned subsidiary of Harmony Investment Fund Limited, a Cayman Islands-based fund ("Harmony Fund") which is managed by Harmony Capital Managers Limited ("Harmony Capital Managers").

The debenture carries an 8% interest rate and is amortized over 4 years. Initial funding of US$1.75 million has closed and, once certain post closing conditions have been met within the next 30 days, the remaining US$13.25 million would be released from escrow to CNEH.

The Company intends to use approximately US$10 million of the net proceeds to finance a portion of the cost for the drilling of 100 new wells within its four Jilin-based oilfields that are under lease from PetroChina with the remaining net proceeds to be used for potential acquisitions, to implement mature technologies to increase production of existing wells and for general working capital purposes.

In addition to the debenture, Harmony Fund will receive three tranches of five year detachable warrants exercisable into 1.2 million shares of common stock in the Company at the initial exercise price of US$0.01 per share, 1.5 million shares of common stock in the Company at the initial exercise price of US$3.20 per share and 2.1 million shares of common stock in the Company at the initial exercise price of US$3.45 per share. The average price of the three tranches of warrants is US$2.51 and represents a 17% premium to the closing price on February 27, 2008. All warrant exercise prices are subject to reset and other adjustments. Upon the exercise of all warrants at their respective initial exercise prices, the Company could receive up to an additional US$12,000,000.

"This transaction marks a major corporate milestone for our company," said Wang Hong Jun, President of CNEH. "We are extremely excited to enter into this agreement with our new partners, Harmony Capital Managers. We have explored different ways of financing our expansion; we believe this structure causes minimal dilution to shareholders and puts CNEH in a strong financial position to take advantage of the compelling opportunities that lie ahead of us."

Suresh Withana, Chief Investment Officer of Harmony Capital Managers said, "CNEH represents an exciting opportunity for the Harmony Fund to invest in the domestic oil production industry in China. It has a highly experienced management team implementing a robust business model. We are confident that with our financial support, CNEH can increase its oil production much more rapidly, both by drilling new wells and through the acquisition of additional production leases."

For more info: http://opto.realpennies.com

Optio Software (OTCBB: OPTO) (March 3rd, 2008) a leading provider of technology solutions dedicated to helping customers automate, manage and improve the complete lifecycle of document-intensive processes announced yesterday that it has entered into a definitive agreement to be acquired by Bottomline Technologies, a leading provider of collaborative payment, invoice and document automation solutions for $1.85 per share.

The acquisition is expected to extend Bottomline's leadership position as a provider of advanced capabilities for transactional document automation, while expanding the company's solution set with Optio's innovative technology. The proposed transaction, which has been approved by the Board of Directors of both companies and is expected to close in Bottomline's fourth fiscal quarter, is subject to Optio Software shareholder approval and other standard closing conditions.

"We look forward to welcoming Optio's customers, business partners and employees to Bottomline. We believe the combination of Optio's solutions and technology with Bottomline's existing capabilities will enable us to deliver greater value to customers in the future," said Rob Eberle, President and CEO of Bottomline Technologies.

"Bottomline and Optio Software share a common vision for how organizations can improve the performance of critical business functions by replacing manual, paper-based processes with automation, while improving accuracy every step of the way," said Wayne Cape, President and CEO of Optio Software. "We believe that the combination of the two organizations, with their complementary solutions, extensive domain expertise and broad customer bases, will create exciting new opportunities for customers seeking to optimize their document-intensive processes."

"Our channel partners will also benefit from the expanded resources made available through the combination of the two organizations," said Cape. "The channel is critical to our go-to-market strategy and we remain committed to our partners' future success." Headquartered in Portsmouth, New Hampshire, Bottomline supports more than 9,000 customers, including 3,000 that access the company's payment and invoice automation capabilities through convenient subscription-based services.

Serving industries such as financial services, insurance, health care, technology, communications, education, media, manufacturing and government, Bottomline provides products and services to approximately 65 of the Fortune 100 companies and 80 of the FTSE (Financial Times) 100 companies.

Needham & Company, LLC acted as financial advisor to Optio Software, Inc. in this transaction.

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