Turning Pennies into dollars: (Pink Sheets: PFNO), (Pink Sheets: CCTC), (OTCBB: CPYE), (OTCBB: PTSG).
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ParaFin Corporation (Pink Sheets: PFNO) (February 29th, 2008) The Board of Directors of ParaFin today announced having signed an exclusive Agreement for the North American distribution rights to the world's first "smokeless cigarette." The agreement is between ParaFin and Rauchless Inc. (Rauchless) of Nashville, TN.
Rauchless, which means "smokeless" in German, has developed a complete smoke free device, identical in appearance to a cigarette, that gives smokers the same oral sensation of smoking a cigarette without the harmful effects of burned tobacco and of generating second hand smoke. PFNO's President commented: "Rauchless were the first to acknowledge exactly what a smoker wants to feel, taste and experience, without becoming a pariah on a flight, in restaurants and at the workplace."
The management of ParaFin sees the potential of Rauchless as a billion dollar business. Rauchless' VP of Sales Thomas Schroepfer deems this an achievable goal if only "one percent (1%) of the country's smokers stay inside their office or workplace and smoke two 'Rauchless' cigarettes in the morning and in the afternoon."
Although the electronics of what looks like a cigarette are currently manufactured in China, under the direction of Rauchless' inventor and Vice President of Research & Development, Dr. Robert Wang, the filter and the aroma which give the stick its soul will be made in the USA and Western Europe. For further information go to the Rauchless web site www.rauchless.com
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Clean Coal Technologies, Inc. (Pink Sheets: CCTC) (February 28th, 2008) announced that it has signed an agreement with The Benham Companies, LLC (Benham), to support commercialization of CCTI's coal cleaning plants in China. Benham is a wholly-owned subsidiary of Science Applications International Corporation (SAIC). SAIC has supported Clean Coal Technologies and its predecessor companies since 1996 in the advancement of CCTI's proprietary technology to pre-process coal for removal of up to 90% of pollutants and excess moisture prior to use as a clean-burning fuel in coal-fired power plants.
Doug Hague, CCTI's President and Chief Operating Officer, stated, "Our agreement with Benham, a leading engineering and design build company, is further testimony to the viability of our technology, and our commitment to work with those companies that have the global recognition and capabilities to support and contribute to a project of this scale and importance. In conjunction with CCTI's parallel $100M joint venture in China, this agreement reaffirms our commitment to taking a leadership role by leveraging our proprietary technology to provide a clean, inexpensive and pollution-free energy source that will enhance economic development while helping to protect the health and well being of people in China, India, and the rest of the world."
With the support of the US Department of Commerce, CCTI plans to build modular front-ends to power plants that will transform coal with high levels of impurities and contaminants into an efficient, clean-burning energy resource. With its significant social and economic benefits, the joint venture has received tremendous support and encouragement from the Chinese government, which has designated a 160-acre parcel of land for the construction and operation of the first of what, could potentially be many CCTI plants in China.
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Conspiracy Entertainment Holdings Inc. (OTCBB: CPYE) (February 29th, 2008) Conspiracy Entertainment Holdings Inc. ("Conspiracy"), a developer, publisher and marketer of interactive entertainment software in North America and Western Europe, announced Friday that the multiplayer puzzler game Octomania for the Nintendo Wii(TM) will hit North American retail shelves in March 2008. Octomania is an original story of mischief and mayhem, replete with zany and loveable characters and a fast-paced color-matching puzzle that is suitable for all ages.
With U.S. publishing rights to Octomania, Conspiracy has selected Atlus U.S.A., Inc. a leading publisher of interactive entertainment, to exclusively distribute Octomania in North America. Sirus Ahmadi, president of Conspiracy Entertainment, said, "Octomania is one of our first titles planned for release in 2008 in what already looks like a busy quarter. With its 'E' for everyone rating, tons of content, multiplayer and Wi-Fi modes, and affordable price points, Octomania strengthens our position in the growing casual games niche market."
Keith Tanaka, CFO of Conspiracy Games, said, "We are excited to work with Atlus U.S.A., Inc. once again to distribute Octomania. In the 4th Quarter of 2007, Atlus distributed Panzer Tactics DS for Conspiracy and we hope to continue to work with them moving forward. The buzz surrounding Octomania has been building over the past few months, and with Atlus U.S.A. as our distributor, we look forward to another successful commercial launch in March."
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Petrosearch Energy Corporation (OTCBB: PTSG) (February 29th, 2008) announced that it has executed an authorization to the general partner of DDJET Limited LLP Partnership ("DDJET") to immediately commence a sales marketing program to interested potential purchasing parties in order to fully assess the current market value of DDJET. The DDJET assets include leasehold acreage, existing wells, equipment, pipelines and rights of way in the prolific Barnett Shale region of the Fort Worth Basin. The Company's subsidiary holds a 5.5445% limited partnership interest in DDJET. The Company has no obligation to sell its DDJET interest and retains all of the rights under the DDJET partnership agreement in the event of a proposed sale by the partners in which the Company chooses not to participate.
The Board of Directors of the Company has retained Friedman, Billings, Ramsey & Co., Inc. ("FBR") to advise the Board in connection with a review of strategic alternatives that may be available to the Company in connection with the possible DDJET divestiture. The marketing of the DDJET interests presents the Company with various options which include: 1) selling the Company's interest in DDJET at an acceptable price; 2) utilizing certain preferential rights afforded the Company under the Partnership Agreement to acquire all or a part of the non-Company interests by venturing with a strategic industry or financial partner; or 3) retaining its current position in DDJET with new and/or existing partners. To date, the Company and FBR have held confidential discussions with a limited number of potential strategic and financial partners and expect to continue the investigation of available options as the DDJET sales process moves forward.
There can be no assurance that the DDJET partnership sale effort will result in any agreements or transactions. The Company does not intend to disclose developments with respect to the sale effort or its review of related strategic alternatives unless and until its Board of Directors has made a decision regarding a specific course of action.
DDJET continues to acquire strategic leasehold acreage in the area of interest and will continue its current drilling and completion program.
Richard Dole, the Company's President and CEO, stated that "We are pleased with the options the Company has related to the proposed sale of DDJET and we believe the Company is in a unique position as both a potential buyer and seller. Given the appetite in the industry for quality Barnett Shale assets, as evidenced by recent transactions in the region, we plan to pursue all the options this situation affords to Petrosearch and utilize the one that will create the most value for our shareholders."
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