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Brownstone Resources Inc. (Pink Sheets: BWNR) (Wed, March 19, 2008, 8:00am ET) Brownstone Resources Inc., a junior mineral resource exploration and development company, announces that the company has been granted an additional 50% earn in on the original option for ownership interest in the Elliot Lake mining claims, located in Northern Ontario.
The additional 50% increases the potential ownership earn in up to a total of 100%, from the originally announced 50% (please see news release dated Nov 19, 2007 "Brownstone announces property acquisition").
The company will make further announcements on acquisitions and developments of the property, as the information becomes available.
Please visit the company website for more information: www.brownstoneresources.com
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Purple Beverage Company, Inc. (OTCBB: PPBV) (Wed, March 19, 2008, 8:30am ET) Purple Beverage Company, Inc. announced it has signed a distribution agreement with Crosset Company for placement of Purple in key outlets throughout the Midwest. Offering a diverse product line, Crosset Company distributes to grocery chains throughout ten states.
"We are very excited to partner with Crosset Company to introduce Purple to the Midwest," said Purple Beverage Company Founder and CEO Ted Farnsworth. "With the addition of Crosset's ten-state distribution base, Purple will reach consumers in the heartland and enhance our national distribution program."
"The decision to add Purple to our beverage line-up was an easy one," said Tim Shepard, Director of Procurement for Crosset Company. "The beverage has already gained such popularity on both the East and West coasts that we anticipate the Midwest will be no different."
Introduced in 2007, Purple is a unique and tasty blend of seven antioxidant-rich juices, including the exotic acai berry, black cherry, pomegranate, black currant, purple plum, cranberry and blueberry. The powerful health benefits of these juices are packed into an all-natural, no-sugar added beverage that is great as an on-the-go drink or as part of a healthy fruit smoothie.
Because adding alcohol to antioxidant-rich berries increases their antioxidant power - as confirmed by researchers from the United States Department of Agriculture and by a study at Kasetsart University in Thailand - Purple is also the perfect addition to a favorite cocktail and is set to become one of the hottest cocktail trends in nightclubs and lounges.
Purple carries a suggested retail price of $2.99 for a 10 oz. bottle and can be found in health food stores, restaurants, delis, drug stores, supermarkets and convenience stores in select locations, including New York, Los Angeles, Miami and Hawaii. In February, Purple became available in select GNC stores, and look for it nationwide in early 2008. For more information, visit www.drinkpurple.com.
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GREM USA (OTCBB: GRMU) (Wed, March 19, 2008, 10:30am ET) GREM USA, an emerging leader in the design and manufacturing of custom hand-crafted and mass produced electric guitars, today released a statement addressing several investor inquiries regarding the current corporate share structure and operational outlook following the Company's recent share consolidation in February.
At the open of business on March 18, 2008, there were approximately 238,000,000 shares outstanding giving the company a current market capitalization of less than $300,000. This existing valuation is less than the Company's assets, is not reflective of the Company's business prospects, and is even valued below the typical selling price of a OTCBB-listed "shell company" with no operations whatsoever. While the Company cannot control the day-to-day trading of its common stock, investors are reminded that the smallcap financial markets are ripe with companies trading inconsistent with their true value. The Company firmly believes upon examination of its business plan, growth prospects, and increasing interest from industry and world-renown recording artists, that the Company's common shares are greatly undervalued. GREM USA reaffirms its commitment to its shareholders that the Company is well positioned for long-term success.
The Company is pleased to announce that since the February share consolidation, over $130,000 of corporate debt has been removed from the Company financials. These debt reductions were achieved by Company debtors agreeing to convert their debt into GREM USA equity, and it is anticipated that additional debts will be converted to equity as the Company seeks to continue to strengthen its balance sheet. The Company is on track to eliminate its entire debt, presently under $700,000, by the end of the current calendar year. Following the elimination of debt, the Company has received strong financial support from its management which has further solidified the Company business plan.
In regards to the Company's operational viability, investors are encouraged to attend the Company's upcoming open house to examine all facets of the GREM USA production facility. In addition to GREM USA management, the Company is pleased to announce that former Firehouse guitarist Bill Leverty will be on-hand for a 'meet and greet,' photographs, and to provide a once-in-a-lifetime guitar clinic for interested participants.
The Company is developing a consistent following among musicians and enthusiasts with its industry-best line of guitars, and management is pleased with the progress of securing the previously-released $10,000,000 retail sales agreement with a major US retailer.
Edward Miers, President of GREM USA, noted, "Over the last 14 months I've personally invested over $210,000 into GREM, and within the next six months I'm committing to re-invest a minimum of $250,000 more. I've been asked often about my feelings regarding the Company share price, and while I will reserve my opinion about where I believe the valuation should be, I will share that if a man or woman walked into my office with a certified check for a figure even ten times the current market capitalization for our company, I would decline it without hesitation. We're literally opening the door to our business with our open house in the near future, and would additionally be happy to accommodate shareholders to visit our facility at any other time as well. We understand that there will always be those with a very short-term interest in our Company, and to some extent we acknowledge that such is necessary in a public market, but there is no doubt in my mind that what we're building is a very solid, long-term investment vehicle for those who have the patience and foresight to recognize it. We're in the business of selling guitars, and though it is necessary from time to time to utilize our share equity, we know there is much more value in developing a strong brand, building a quality product for our customers, and promoting something we all love, music."
Shareholders wishing to confirm the share data may openly contact the Company transfer agent. Those seeking additional information may contact the Company President, Edward Miers, directly.
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XFMedia (Nasdaq: XFML) (Wed, March 19, 2008, 8:38am ET) XFMedia, a leading media group in China, announced that two of the Fortune China financial television programs ("Fortune China") have added landing coverage to a total of eighty terrestrial television channels across 24 of China's 31 provinces and provincial-level municipalities. The programs are Fortune China Weekly and Fortune Celebrity, the two weekly programs in the series.
Building upon the existing coverage Fortune China enjoys on the nationwide satellite television NMTV, the programs are now available on more than one channel to the local households in these regions. This development deepens the reach of the programs, enhances the brand visibility and hence is expected to increase the advertising revenues.
The Fortune China series, broadcast in Chinese, is composed of six programs which focus on financial and investment related information and analysis and includes interviews with influential business people. The shows target China's upwardly mobile demographic who have a keen interest in investment.
The Fortune China shows now reach a total potential viewing audience of approximately 225 million through the NMTV satellite channel and a total of 80 terrestrial channels. According to data from CSM Media Research, ratings for the six programs on NMTV averaged 0.144% in the fourth quarter of 2007; 32% higher than the third quarter of 2007, with five of the shows recording new monthly highs.
"XFMedia is strong in financial content, and these are among the most popular and widely watched financial programs in the market," XFMedia CEO Ms Fredy Bush said. "Combined with our strong ad sales capability, we believe we are the market leader in this area."
Ms Bush said she expects the expanded broadcasting coverage of the Fortune China shows will help promote the Fortune China brand, and increase advertising revenues. "It is encouraging to note that the Fortune China shows in February saw a 54% growth in gross advertising revenues over January. Management expects the show's revenues for this year to see continued growth over last year," added Ms Bush.
The company who produces the Fortune China just won the "2008 Top TMT (Technology, Media & Telecom) Enterprises with The Best Investment Value" Award on January 19. This award was presented at the China International Private Equity Forum to the enterprises in the industry of Technology, Media and Telecom which have the highest growth potential as an investment target for investors.
The Fortune China program series itself has recently won the "2007 Most Globalized Financial Program Award" awarded on March 15 by the New Weekly news magazine. This award was established to give credit to financial TV programs in China that provide good international standards and quality in terms of program content and production style. The shows, amongst the best known financial TV series in China, also won the Award of the TV Media with the Best Investment Value in 2006 and 2007 consecutively.
The award recognizes the shows in China that provide the best return for the advertising dollars spent.
XFMedia derives revenue through advertising sales and licensing of TV programs, including the Fortune China series. The six programs in the Fortune China financial television series are Fortune Morning, Fortune Guide, Fortune Broadway, Fortune Talk Show, Fortune China Weekly and Fortune Celebrity.
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