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Laser Energetics, Inc. (OTC: LNGT)(February 1, 2008) provided an update to shareholders on the status of its joint venture with Lantis Laser for the sales and marketing of its BrightStar(TM) Laser for dental applications. The update was provided to clear up some confusion about the transaction that has been expressed by some shareholders.
Robert D. Battis, CEO of Laser Energetics, stated, "We are not placing orders to ourselves through a newly formed entity that we created. Rather, HyGeniLase, Inc., which is a joint venture between LEI and Lantis, has its own capital and corporate existence. LEI is not responsible for funding HyGeniLase, and HyGeniLase has already begun making payments to LEI. That responsibility belongs to Lantis, who has already arranged for funding, and is further contemplating taking HyGeniLase public."
Battis continued, "LEI will supply HyGeniLase on a cost plus basis on every laser system sold to HyGeniLase. In addition to the profit LEI makes on the laser system sale, LEI will, by virtue of being a shareholder, share in additional profits that HyGeniLase will generate from its sales through its worldwide distribution channels. As a result, because of the larger anticipated sales, LEI will effectively generate more profit for every system sale to HyGeniLase than it could otherwise generate by not working with a dental Company such as Lantis."
"We hold ourselves to the highest ethical standards, and will only enter into those transactions which are in the best long term interest of the company. The HyGeniLase transaction meets that exacting requirement. The involvement of Lantis, whose management have an intimate knowledge of the dental field, opens a new market for LEI that we would have otherwise had to ignore at the present time because of our limited size. HyGeniLase is negotiating some significant contracts at this time, and we look forward to making additional exciting announcements in the very near future."
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U.S. Precious Metals, Inc. (OTCBB: USPR)(February 1, 2008) Director Sheldon Baer announced that the roads at the La Sabila project in southern Michoacan have been repaired, the drilling company has arrived and drilling has begun. Mr. Baer went on to say that the certification contractor had arrived on site and would be monitoring the drilling campaign and the processing of the core, to maintain complete integrity.
Mr. Baer also said he recognized the importance of processing the core in a timely manner and that as the assay results are received by USPR they would be released to the public.
Dave Burney, President of USPR also said today "the first drill hole is located adjacent to an outcrop that assayed 0.062 opt gold, 17.3 opt silver. Rock chip samples from another location assayed 0.335 opt gold, 1.093 opt silver, 0.185% copper, and is scheduled to be cored next.
US Precious Metals, Inc. is a gold exploration company operating in Mexico through its wholly owned Mexican subsidiary, U.S. Precious Metals de Mexico. US Precious Metal's common stock is quoted on the OTC Bulletin Board under the symbol "USPR."
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Smart Chip Technologies (OTC: SCTN)(February 1, 2008) announced that the company has filed its 2003 10k with the SEC.
Forms 10K from 2004 through 2007 will also be filed shortly thereafter. Completing the filings will allow the company to move forward to the Over the Counter Bulletin Board (OTCBB) market once the SEC approves their filings.
The company believes that these filings will increase and enhance the company value for shareholders, potential investors, creditors, partners and customers as well as allowing for additional exposure with brokerage houses that will result in increased volume and liquidity for the company stock in the marketplace.
Major License sales and revenue contracts are moving closer and closer to the finalization process and several are expected to close within the next few months.
"We would like to thank our shareholders for their continued support and patience. It has been a long difficult road but the company is now beginning to achieve significant progress in reaching and accomplishing its objectives in Year 2008," stated Bernard McHale, Director of Smart Chip Technologies.
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