Financial & Business News
EPOD Announces Acquisition of CompMess Completed
EPOD International Inc. (the "Company," "EPOD") (OTCBB: EPOI) (FRANKFURT: EDU.F), a developer of advanced energy management technologies and solar panel manufacturer, announces the Company has completed its acquisition of controlling interest in CompMess GmbH & Co. KG ("CompMess").
Further to EPOD's press release of December 19, 2005, regarding the acquisition of CompMess, Management announces that the Company has completed its acquisition of controlling interest in the Gotthard-based automated equipment and electronics manufacturer. CompMess brings to EPOD 17 years of automated machinery and electronics manufacturing expertise. The acquisition provides EPOD with a turn-key manufacturing facility for all of its electronic components and systems, as well as solar panel assembly capacity.
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In addition to their electronics manufacturing and automated machinery expertise, CompMess is a strategic complement to the solar panel factory solutions provided by ISE Solar, a recently added EPOD subsidiary. EPOD has now completed its objective of becoming a fully vertically integrated solar power company. The Company is now capable of constructing turnkey, thin-film solar panel factories, as well as manufacturing, assembling, and installing panels and systems built by these same factories. The second of EPOD's solar panel facilities is to be built in Kelowna, British Columbia, beginning in August 2006, and will have a five megawatt capacity.
L. Mark Roseborough President EPOD International Inc."Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Statements about EPOD's future expectations, including future revenue, earnings, and transactions, as well as all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. EPOD intends that such forward-looking statements be subject to the safe harbors created thereby. These statements involve risks and uncertainties that are detailed from time to time in the Company's filings with the Securities and Exchange Commission, including, but not limited to, the Company's 10-KSB for year ended December 31, 2005 filed on or about April 17, 2006, and incorporated herein by reference.
About EPOD: EPOD International Inc. is a leader in the development of advanced energy management technologies with real-world market applications. The Company's patent-pending 'Energy Pod' technology manages and manipulates electrical energy such that utilization of DC-electric battery power becomes significantly more efficient. EPOD's patent-pending and proprietary technologies are applicable to a wide variety of industries and applications, and are available through licensed OEM's and directly to end-users.
The Company's filings, including current financial reports, can be accessed through the EDGAR database at www.sec.gov.
Genesis Financial Second Quarter Results
Genesis Financial, Inc. (PINKSHEETS: GFNL) announces second quarter and year to date operating results. Genesis Financial, Inc. reported operating profits of $74,727 for the second quarter of 2006 bringing the year to date operating profits to $153,346. Basic income per share for the second quarter is $.02 and for the year to date is $.05.
The Company also had an increase in deferred interest income from the sales of contracts of $165,743 or $.05 per basic diluted share for the six months ended June 30, 2006 bringing the total deferred interest income to $393,470 or $.12 per share.
In other business Genesis Financial, Inc. completed a private placement in the second quarter of 554,430 shares common stock for net proceeds of $1,673,290 and the outstanding $1,000,000 of 4% preferred stock was converted into 1,000,000 shares of common stock.
In May 2006 Genesis Financial, Inc. negotiated a settlement on loans made on property in Idaho that had been jointly developed into a mitigation wetlands bank with the original borrower and a subsequent joint venture partner. The loan had gone into default and Genesis Financial, Inc. was in the process of foreclosure. Under the settlement Genesis is to receive 52.5% of $3,000 ($1,575 per credit) upon the sale of each credit. The mitigation bank has been approved for 1,376 credits with a possible increase to 2,500 credits. The sale of the mitigation credits will result in pre-tax income of between $2,167,200 and $3,937,500 over the life of the mitigation bank should all of the credits be developed and sold.
This release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 which can be identified by the use of forward looking terminology such as "may," "will," "intend," "expect," "anticipate," "estimate," "continue" or the negatives thereof of comparable terminology. The Company's actual results could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including, but not limited to, economic conditions, product demand, competitive products and pricing, and/or state and federal regulations.
eMax Holdings Corporation Updates Progress
eMax Holdings Corporation (PINKSHEETS: EMXC) announces their recent progress about the companies growth. Roxanna Weber recently held an interview with tradersnation.com. You can hear this interview at http://www.tradersnation.com/emxc.
eMax Holdings has updated their web presence at www.emaxcorp.com. Roxanna Weber, President and CEO states, "eMax Holdings, Corp. and the rest of the companies are continually updating their internet presence. These updates are necessary changes to allow these companies to compete and acquire market-share of well established industry leaders."
EntertainMax Worldwide recently launched a new family portal, www.emaxnet.net. This portal is powered by SkreemSearch.com, a Search Engine developed by Spider Technologies, Inc. eMaxNet.net has been created as a free family safe portal. This new portal has many new developments taking place. Current developments ready to launch: eMax Music Player, eMax Radio, eMax videos, games, and much more.
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Spider Technologies, Inc. recently announced a new division in solar and eco-safe energies, Spider Tech Solar. You can currently find solar based products in The Spider Store at http://www.spidertechnologies.net/store/index.php?categoryID=90, many more products and services will be added daily.
About EntertainMax Worldwide, Inc.
EntertainMax Worldwide, Inc., http://www.entertainmax.net, is a multimedia, entertainment and broadcasting company that offers high-quality products and services focused in the areas of pre-recorded music, feature films, TV production, concerts, sports events, and merchandising.
About Spider Technologies, Inc.
Spider Technologies, Inc., http://www.spidertechnologies.net, is a cutting-edge, high-tech software development company focusing on internet, new digital media and IT, robotics, Artificial Intelligence industries. Spider Technologies plans to unveil numerous new internet technologies which will revolutionize the way consumers interact through the internet and everyday living.
About eMax Holdings Corporation
eMax Holdings Corporation, http://www.emaxcorp.com, is a diversified holding company investing in multimedia, entertainment, communication, broadcasting, IT and artificial intelligence technologies, and real estate and finance industries.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, the future press releases of eMax.
Cox Newspapers, Inc. to Generate New Revenue With Quigo's AdSonar
Quigo's Content-Targeted Ad Platform Expected to Significantly Increase Revenues
Quigo, a pioneer and leading provider of targeted, auction-based, pay-per-click advertising, today announced that Cox Newspapers, Inc., one of the nation's foremost newspaper publishers, will generate new revenue by deploying private label versions of Quigo's AdSonar platform across sites affiliated with its 17 daily and 25 non-daily papers, including news sites affiliated with The Atlanta Journal-Constitution (www.ajc.com); Austin American-Statesman (www.Statesman.com); Dayton Daily News (www.daytondailynews.com); and The Palm Beach Post (www.PalmBeachPost.com).
AdSonar's auction-based, content-targeted sponsored links have built a track record with other news organizations of significantly surpassing revenue they would have otherwise received using blind networks where advertisers don't have Adsonar's same degree of transparency or ability to target specific sites, pages and content. AdSonar gives advertisers multiple targeting options for their pay-per-click campaigns including national and local targeting by vertical category, site, individual page and/or topic. Moreover, Quigo will enable Cox Newspaper publishers to own their relationships with local advertisers and assure their advertisers that they will know exactly where their ads will run.
"AdSonar is a crisp, familiar setting for advertisers who appreciate the value of being adjacent to content that is highly relevant to the advertiser's products and services," says Tonya Echols, Director of Business Intelligence for COXnet "Quigo is not only helping us generate new revenue but is helping us build our own performance marketing program which, in the end, helps Cox Newspapers achieve the full value of our brands and quality traffic."
Quigo has launched private-label versions of its AdSonar advertising platform for over 150 local, regional and national newspaper sites including those of The Chicago Tribune, The Hearst Company, The McClatchy Company, Media General, Morris Communications, Media News Group, New York Times, and USA Today. A recent Newspaper Association of America (NAA) report found that Quigo's AdSonar advertising marketplace is the most popular contextual ad affiliate program among online newspaper publishers by more than a 2-1 margin.
"We are pleased to be recognized by Cox Newspapers for our potential to help them generate new revenues," says Josh Feller, Quigo's Director of Business Development. "Our experience has shown that Cox Newspapers will be able to command high bid prices from advertisers which is a function of the quality of their current and future web traffic and the ability of advertisers to target audience with extraordinary precision. By being performance-based, Adsonar takes the risk out of introducing new advertisers to the online platform -- then using that positive experience to up sell them on other offerings from Cox Newspapers offline media brands."
Based in Atlanta, Cox Newspapers, Inc. produces 17 daily and 25 non-dailies including The Atlanta Journal-Constitution, Austin American-Statesman, Dayton Daily News, and The Palm Beach Post. The company also operates direct mail businesses, distributes classified advertising publications, customized newsletters and owns one-third of a newsprint manufacturing business.
Quigo (www.quigo.com) provides innovative, performance-based marketing solutions for premium-branded websites and advertisers.
Quigo's AdSonar is a leading network of premium-branded websites offering auction-based, pay-per-click advertising. AdSonar's content-targeted sponsored links are distributed to many of the web's most recognized sites including ABC News, Fox News, Martha Stewart, Homestore.com, Lonely Planet, and PGATour.com; the online publications of American Media, Trader Publishing, IDG; and hundreds more. AdSonar offers advertisers multiple targeting options for their pay-per-click campaigns including national and local targeting by vertical category, site, individual page, topic, and/or keyword.
Quigo's suite of search marketing solutions, including its flagship FeedPoint product, offers scalable, technology-driven services to help leading e-commerce sites acquire customers, generate sales, and build brands. Partners include Hewlett-Packard, Red Envelope, shoes.com, Expedia, BizRate, Tower Records, autobytel.com, and Verizon SuperPages among others.
Founded in 2000 and venture-backed by Highland Capital and Steamboat Ventures (the venture capital arm of The Walt Disney Company), Quigo has offices in New York City and San Jose, CA.
Innova Holdings, Inc.: Open Letter to Stockholders
(OTCBB: IVHG) -- On July 13, 2006, we filed a preliminary proxy statement with the Securities and Exchange Commission on Schedule 14A with regard to our upcoming Special Meeting of Stockholders, which is tentatively scheduled to be held on Friday, September 15, 2006. One of the proposals to be put to a vote of our stockholders is a reverse stock split of the issued and outstanding shares of our common stock at a ratio of either one-for-eight or one-for-ten, as determined at the discretion of the board of directors to be in the best interests of the Company without further approval from our stockholders.
I would like to explain some reasons why a reverse split of the company's shares is important and beneficial to our stockholders and Innova Holdings, Inc. A reverse split of 1 for 10 means that for every 10 shares you own they will be combined into one share. In theory, the value of that one share should be worth 10 times what it was before the reverse split, although we can provide no assurance that this will occur. As an example, if you own 1,000,000 shares and they have a market value of $.025 per share before the reverse split, you will receive 100,000 shares after the reverse split and, in theory, the 100,000 shares you receive after the reverse split should have a value of $.25 per share. In both cases, before and after the reverse split, the shares in total should be worth $25,000.
Many of our stockholders have asked why we are doing this and others have been asking why we aren't doing it for the past several months. Let me address our strategy.
Our Board of Directors, financial advisors, and your management team believe a reverse split now will create a more stable capital structure enabling our company to achieve continued growth, by:
-- bringing the number of shares outstanding to a more realistic, manageable and attractive level, which may help generate investor interest in the Company and help the Company attract and retain employees and other service providers, and -- using available shares sparingly to raise the growth capital necessary to fund future growth through acquisitions, product development, and to finance the sales and marketing activities necessary to achieve higher levels of sales and eventually profits.
Although we can provide no assurance that the reverse split will indeed lead directly to our goals, it's the opinion of our Board of Directors, financial advisors and management that it is a necessary step.
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We believe we have been successful to date in achieving goals that are fundamental to our growth strategy:
-- We entered into an exclusive worldwide agreement with Mesa Robotics, Inc. to market and sell their industry and Military line of unmanned mobile robotic vehicles. We intend to concentrate on several key markets for these products -- the Military, Homeland Security and the First Responder markets including Fire, Police and Sheriffs' departments. We are moving on these fronts and investing cautiously in the resources that we believe will lead to success in this marketplace. -- We acquired the business assets of CoroWare, a software system integrator with a focus on unmanned mobile robotics, web-based software services, and other system integration services. We believe that these are growth markets. -- We developed and launched the third generation, open architecture PC industrial robot controller for RWT -- the URC3™ -- for which we have already received the first multi-unit order. Reaching the full sales potential of this product will require building broad awareness in the targeted industrial markets about the URC3's features and functions, and the cost benefits it provides by, we believe, extending the useful life of robots and other forms of capital equipment already installed, reducing the downtime of production systems, eliminating the need for large spare parts inventories, and simplifying training, programming, operations, and maintenance. To that end, we plan to launch aggressive advertising, public relations, and direct mail campaigns with industrial trade journals to communicate this message of the URC3's success stories by our existing customers. -- We repaid well over one million dollars in old debt including debt that has burdened our balance sheet and our organization since the reverse merger in August 2004. We still have debt to pay down.
Going forward we believe there are more opportunities for growth through continued hard work, and improving our market position in the industrial and service sectors. We intend to use the new URC3 to offer retrofitting of existing industrial robots. We expect to target acquiring key companies that will compliment our technologies and possibly allow us to gain additional market share in the industrial and service robotics markets, the motion control market, and the software systems integration market. We also intend to aggressively launch a sales and marketing initiative of the Mesa Robotics line of unmanned robotic vehicles.
All of these activities will require capital -- growth capital -- and we see the reverse split as a key step in realigning the shares outstanding to be at a more balanced and reasonable level which may attract more investors to appreciate the value proposition of our company as a long term investment. I personally have been presenting the merits and attributes of our company to investors around the country for some time now, and the one question that constantly comes up is, "Why aren't you going to do a reverse split to reduce the number of shares outstanding? Then we can seriously look at investing in your company." So, we have been effective in telling potential new investors about our company, but the number of shares outstanding often is the key obstacle to new investment.
In closing, I would like to point out that in the past year we have booked new orders, fulfilled a multiple unit order with our patented open PC Universal Robot Controller, received our third US Patent office pioneer patent, obtained a single source contract from NASA's Goddard Space Flight Center for a Hubble Telescope project, reported revenue, acquired CoroWare, while still forming another subsidiary, Innova Robotics, to distribute the Mesa products into the Unmanned Robotic Vehicle markets... while retiring over one million dollars of corporate indebtedness.
I strongly believe we need to reduce the number of outstanding shares to continue our growth plan and increase our stockholders' value. I kindly ask for your support as we move towards continuation of our growth strategy. Thank you so much for your continued support.
Sincerely,
Walter K. Weisel Chairman and CEO
Spirent Communications PLC announces Transaction in Own Shares
Spirent Communications plc announces that on 17 July 2006 it purchased from JPMorgan Cazenove Limited 850,000 Spirent Communications plc ordinary shares at an average price of 34.3861 pence per share. The purchased shares will be held as treasury shares. Following the above purchase, Spirent Communications plc holds 29,240,000 Spirent Communications plc ordinary shares in treasury, and has 941,635,758 Spirent Communications plc ordinary shares in issue (excluding treasury shares).
Spirent Communications PLC announces Transaction in Own Shares
Spirent Communications plc announces that on 17 July 2006 it purchased from JPMorgan Cazenove Limited 850,000 Spirent Communications plc ordinary shares at an average price of 34.3861 pence per share. The purchased shares will be held as treasury shares. Following the above purchase, Spirent Communications plc holds 29,240,000 Spirent Communications plc ordinary shares in treasury, and has 941,635,758 Spirent Communications plc ordinary shares in issue (excluding treasury shares
Euromoney Ranks Glitnir "Best Bank" in Iceland
Glitnir Wins Prestigious Award From Euromoney
The leading bank and finance publisher Euromoney PLC ranks Glitnir "Best Bank" in Iceland in its new report. Euromoney released its yearly ranking of the finance sector today. "Glitnir's business model is more conducive to sustainable profitability than its peers," states Euromoney. "We are proud to be ranked the best bank based in Iceland," comments Bjarni Ármannsson, CEO of Glitnir. "This is further proof that our focused business strategy and transparent communications are well regarded by the market," comments Mr. Ármannsson.
Euromoney comments on the positive development in Glitnir's CDS (credit default swap) spreads in comparison to the other Icelandic banks as an indicator of good banking practices. "The performance of Glitnir's CDS spreads this year, relative to its competitors Kaupthing and Landsbanki, is a good barometer of the strength of its franchise as well as its management during the crisis that hit the Icelandic banking system in the first quarter of 2006. That performance also reflected the widespread belief that the bank previously known as Íslandsbanki has a business model that is more conducive to sustainable profitability than its peers," writes Euromoney.
"With net profits tripling in the first quarter of 2006 and return on equity reaching 42 percent, that perception appears to be warrant. Affirming the bank's A- long-term rating at the end of March, Standard & Poor's forecast that Glitnir would "maintain profitability at comfortable levels, even in a less favourable economy environment of higher loan losses and lower financial gains." When S&P changed its outlook on Iceland from stable to negative in the beginning of June, the agency was quick to advise that the revision would have no impact on Glitnir's rating," writes Euromoney.
"Glitnir has a low cost-income ratio (38%) and a well diversified loan book, with some 60% of its profits now generated abroad and its continued diversification into the Norwegian market helps to disperse overall risk exposure. A potential weakness is that Glitnir is highly dependent on wholesale funding, although less so than Kaupthing. But bankers say Glitnir responded more quickly than its peers to the pressures that mounted early in 2006. While the others were caught napping, Glitnir moved quickly to diversify into alternative funding sources such as the Canadian and Australian dollar markets," states Euromoney in its 2006 Award for Excellence report.
About Euromoney
Euromoney Magazine, founded in 1969, is the flagship publication of Euromoney Institutional Investor PLC, a leading international business-to-business publisher in the FTSE 250 with revenues in excess of £195 million. Euromoney publishes more than 100 specialist business magazines, newsletters and journals, comprehensive research guides, directories and books focusing on the international finance, law, energy and transport sectors. Euromoney also produces and runs a wide-ranging international portfolio of business conferences, events, seminars, training courses and exhibitions on financial and related topics and are a leading provider of electronic business information through its databases and information services. Euromoney has offices in more than 20 countries, including London, Paris, New York, Hong Kong and Singapore.
About Glitnir
Glitnir is a leading financial group that offers universal banking. Services include corporate and investment banking, stock trade and capital management. The bank has a branch in London in the UK and in Copenhagen in Denmark. Glitnir has an office in Halifax in Canada. Glitnir is the sole owner of banks in Luxembourg and Norway (BNbank, Glitnir bank, Glitnir Securities and Glitnir Kapitalforvaltning, the factoring company Glitnir Factoring, and 50.1 % of the Union Group). Glitnir owns the leading Nordic stockbroker firm Fischer Partners in Stockholm in Sweden. Glitnir plans to open an office in Shanghai in China in 2006. Glitnir is listed on the Icelandic Stock Exchange and has a market capitalization of approximately EUR 3 billion. Glitnir recently announced record profit for first quarter of 2006 - the best quarter in the bank's history. Total assets per 31 March 2006 were ISK 111 370 billion. The record after-tax profit was ISK 9.1 billion in Q1 2006, as compared to ISK 3.0 billion in Q1 2005, increasing by 200 per cent. For more information: www.glitnirbank.com
FETCH! Pet Care(TM) Expands Into Baltimore, Maryland
Nation's Preeminent Professional Pet Care Network Now Servicing Pet Owners Throughout Maryland's North and West Baltimore Regions
FETCH! Pet Care, America's largest and most sophisticated pet care franchise offering professional pet sitting and dog walking services, today announced it has launched two new locations in Maryland -- Baltimore's North and West regions -- to provide area residents with unsurpassed pet care services. This new franchise marks the 45th FETCH! Pet Care operation that, in aggregate, now services over 700 cities and towns throughout Arkansas, California, Delaware, Florida, Georgia, Illinois, Iowa, Louisiana, Maryland, Michigan, Missouri, New Jersey, New York, and Pennsylvania.
Heather Ordoñez, who owns and operates FETCH! Pet Care of Baltimore North and Baltimore West, is augmenting her profession in Systems Engineering to establish the franchise, capitalizing on a unique opportunity to combine her love of animals with a proven, turnkey home-based business for just $5,000 -- among the lowest capital investments in the franchise industry today. She now provides pet owners throughout the Baltimore region, including Catonsville, Reisterstown, Towson and White Marsh, with a range of services that meet every need and budget, including boarding and daycare in the sitter's home, overnight sitting or daily visits in the client's home, private and group dog walks, pet taxiing, and miscellaneous home care. A free in-home consultation permits clients, pets and sitters to get pre-acquainted and address each pet's unique needs.
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"Selecting a sitter to care for a pet and a home is a critically important decision," notes Ordoñez. "Now, there's no need to impose on family members or friends, or subject their pet to kennel boarding. Our highly trained staff of sitters ensures all pets receive the love, attention and skilled treatment expected of a professional caregiver, and that the client's home remains secure."
To assure operational efficiencies, FETCH! Pet Care employs a sophisticated telephone dispatch system and advanced software that tracks assignments and delivers real-time electronic client order confirmations and automated sitter assignment reminders. In addition, each sitter undergoes a thorough criminal background check, references review, and training regimen, and each location is fully licensed, bonded and insured.
Paul Mann, FETCH! Pet Care founder and president, notes, "The demand for professional pet care services is at an all-time high -- especially those that allow pets to maintain their routine while receiving the attention they need. With many pet owners frustrated by the lack of professional and reliable caregivers, or reluctant to kennel their pets due to health and other concerns, our safe, convenient, and nurturing care provides peace of mind."
As part of the grand opening celebration, through September 1, 2006 FETCH! Pet Care of Baltimore North and Baltimore West are offering a 10% discount off each new client's initial service. FETCH! Pet Care of Baltimore North and Baltimore West can be reached by telephone at 410-869-3382 and via email at baltimorewest@fetchpetcare.com.
About FETCH! Pet Care, Inc.
Founded in 2002 and with over 700 service areas across the United States, FETCH! Pet Care is the pet sitting industry market leader -- the new face of pet care in the 21st century. The company, which was featured among Entrepreneur magazine's list of franchises under $25,000 in October 2005, offers a humane alternative to kennel boarding by providing loving overnight and/or daily care to any kind of pet in the most professional and reliable manner possible. FETCH! Pet Care's carefully selected, screened and trained pet sitters and dog walkers, who are all pet owners themselves, have serviced over 2,000 clients this past year alone, and the company is a proud standing member of Pet Sitters International -- the world's foremost organization for professional pet sitters. For franchise information or to find a location near you, visit the company's Web site at www.fetchpetcare.com or call the corporate office at 866-FETCHME
US Farms, Inc.: Growing New Pastures, On MN1.com
Yan Skwara, President of US Farms, Inc. (OTCBB: USFI), will be featured Live on Market News First on July 17, 2006 at 1:00 EST to discuss the company's new farming and nursery business.
US Farms, Inc is a fully reporting publicly traded corporation which is undergoing a transformation with the recent agreement to acquire Aloe Vera farming operations in Southern California.
The Aloe Vera plant is used in many consumer products. The whole Aloe Vera leaf is available in many grocery stores and is used in cooking, juices and skin care. Commercially, the Aloe Vera leaf is used in beauty aids, dietary supplements, juices, skin care products and sunscreens. The applications for the Aloe Vera leaf and the gel inside the leaf are vast.
Log on to MN1.com to listen and participate in this live discussion on July 17, 2006 at 11:00 CDT.
About MN1.com
Market News First is an online micro cap news provider which brings investors current up to speed news on the micro cap market. Market News First is the only online live radio web site that brings real micro cap news to investors and features live interaction with companies from the Bulletin Board, Pink Sheets, and Amex.
About US Farms, Inc.
US Farms is engaged in a number of diverse agriculture business activities. US Farms produces and distributes horticultural products through a number of subsidiaries. The company's horticultural products are sold through supermarkets, home centers, retail merchandisers, garden centers, re-wholesalers, and landscapers throughout the United States and Canada. Through internal growth and strategic acquisitions the company intends to expand its market share in the produce space. Currently the company is packing, shipping and marketing Aloe Vera as a produce product through one of its subsidiaries. The company's management is focused on strategic planning, mergers and acquisitions to become the leader in several more niche markets in 2006.
Through daily live pressers we bring you up to date on all the established companies and inform the investors of the newest opportunities within the micro cap market. Market News First's one on one interviews with the Presidents and CFOs of micro cap companies, broadcasted on our website, delivers answers to the questions that micro cap investors would ask and provides them insight into the companies' present condition and future plans.
Safe Harbor: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, the potential for additional customer growth from acquired operations and additional opportunities for growth. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including: general economic business conditions, unfavorable weather conditions, the success of certain cost containment initiatives, changes in regulations or regulatory treatment, availability and the cost of capital, the success of growth initiatives, and other factors discussed in our filings with the Securities and Exchange Commissions. Additionally, this release may not be considered as legal, accounting, or investment advice, and is not, and may not be considered, a solicitation for the purchase of any securities issued by US Farms, Inc.
Aperto's PacketMAX CPE Family Achieves WiMAX Forum Certification
Entire PacketMAX(TM) WiMAX Solution -- Base Stations AND Subscriber Units -- WiMAX Forum Certified(TM)
Aperto Networks, builder of the world's most advanced WiMAX base stations and subscriber units, announced today that its PacketMAX™ family of CPEs (customer premise equipment) has achieved WiMAX Forum™ certification.
Aperto's PacketMAX 100 and PacketMAX 300 series of subscriber units operating at 3.5 GHz will now be adorned with the coveted WiMAX Forum Certified™ logo signifying that the equipment is interoperable and compliant with the WiMAX Forum's certification guidelines based on IEEE 802.16-2004 and ETSI HiperMAN standards. Aperto's industry leading carrier-class PacketMAX 5000 base station was one of the first to receive WiMAX Forum certification earlier this year.
"The certification of Aperto's PacketMAX family of subscriber units is another significant milestone for Aperto and underscores Aperto's unyielding commitment to our service provider customers who understand and appreciate the value and importance of the WiMAX Forum's certification regime," said Manish Gupta, vice president of marketing and alliances for Aperto Networks. "Our customers can have assurance and confidence that Aperto's end-to-end, carrier-grade WiMAX solution is fully certified."
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The newly certified PacketMAX 100 and the PacketMAX 300 CPEs incorporate the Intel PRO/Wireless 5116 wireless modem, which was specifically designed to support the IEEE 802.16-2004 standard. These CPEs give service providers flexibility in serving residential as well as enterprise customers with best in class QoS features and service parameters.
"Aperto has utilized its broadband wireless expertise to build very versatile WiMAX base stations and subscriber units," said Yung Hahn, general manager of the WiMAX product division at Intel. "We offer our congratulations to the Aperto team in securing WiMAX Forum certification for its CPEs based on Intel silicon."
Certification means that a WiMAX device complies with the IEEE 802.16 and ETSI HiperMAN standards based on 100 percent success in a series of authorized WiMAX Forum tests covering protocol conformance, radio conformance, and device interoperability. The WiMAX Forum is an industry-led, non-profit corporation formed to help promote and certify the compatibility and interoperability of broadband wireless products using the IEEE 802.16 and ETSI HiperMAN wireless MAN specifications. The Forum's goal is to accelerate the introduction of standard broadband devices into the market with fully interoperable WiMAX Forum Certified™ products supporting metropolitan area fixed, portable and mobile broadband applications.
"As a WiMAX Forum founding member and a key contributor to the 802.16 standard, Aperto Networks was an influential leader and a contributor in moving WiMAX certification efforts forward," said Ron Resnick, president of the WiMAX Forum. "We are pleased with Aperto's commitment and its achievement of certifying its entire PacketMAX family of products."
About Aperto Networks
Aperto Networks helps leading service providers deliver affordable wireless voice and broadband profitably by building the world's most advanced WiMAX base stations and subscriber units. Aperto fundamentally changes the economics of delivering voice and broadband services through IP-rich, point-to-point and point-to-multipoint networks, allowing carriers to offer a wider variety of services to more customers using less equipment. Its carrier-class WiMAX technology offers industry-leading subscriber density, quality of service, ease of use and reliability. Aperto is a founding board member of the WiMAX Forum as well as a founder and lead contributor to IEEE 802.16a/d and the ETSI-BRAN standards. Serving more than 200 customers in 65 countries, Aperto Networks is based in Milpitas, California. Visit: www.apertonet.com
WiMAX Forum and WiMAX Forum Certified are trademarks of WiMAX Forum
Grifco International Reaches Agreement With Lyamec on Proposed Offering
Grifco International, Inc. ("Grifco" or the "Company") (PINKSHEETS: GFCI) announced today that it has reached an agreement with Lyamec on a $2.25 proposed offering. Filings for either foreign securities registration or U.S securities registration are currently under review.
Further, Grifco announces that it has adopted resolutions to protect assets and to fend itself off as a target opportunity for a hostile takeover, with additional consideration and security in connection with Global Oil Tools Libya. In accordance with adopted resolutions and pursuant to agreements in place, Grifco International is to commence completion of consolidated audited financial statements as well as begin required asset separation agreements with certain subsidiaries as part of the offering. Pursuant to the terms of the asset separation agreement, certain subsidiaries will become "stand-alone" companies. The stand-alone company will operate independently of Grifco.
The Global Oil Tools Libya facility in Misurata is strategically located to provide ready access to critical key distribution points from which Global can deliver tools to regional customers on a just-in-time basis. Global's advantage in North Africa is the ability to provide a localized, fully integrated development, manufacturing and shipping facility over competitors shipping tools from distant distribution centers.
About Grifco International, Inc.
Grifco International is a leading provider of oil and gas services equipment, specializing in the conception, architecture, and development of tools for the coil tubing, wire line, and snubbing industry throughout the United States, China, Mexico, South America, the Middle East and Africa. Grifco holds and owns design rights and manufacturing facilities for producing more than 6,000 products for the oil and gas industry with more than 150 clients, boasting the biggest names in the business, including Halliburton, Exxon Mobil Corp., and Schlumberger.
For more information, please visit: www.grifco.org.
About The Lyamec Group
The Lyamec Group (www.lyamec.com) was established in 1999, to fulfill the existing and expanding demand for U.S. made products as outlined by President Clinton in 1999. The Lyamec Group provides vital assistance in laying unique and integrated platforms with cross-border assets to further streamlining efficient and effective opportunities and solutions.
Forward-Looking Statements
Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation
Discovery Commerce Selects CommerceHub to Expand E-Commerce Multi-Channel Platform
Universal Connection Hub(TM) Enables Discovery Retail to Integrate Supply Chain Across All Market Platforms
CommerceHub, the Supply-on-Demand platform for supply chain integration and fulfillment solutions, today announced that Discovery Commerce has selected CommerceHub's Universal Connection Hub™ and Drop-Ship Master™ solutions to provide integrated supplier connectivity across its multi-channel supply chain and the virtual inventory fulfillment capabilities to rapidly expand its multi-platform e-commerce markets.
"Our multi-channel retailing strategy requires a robust platform that provides reliable and flexible connectivity," said Patrick Gates, EVP Consumer Direct for Discovery Commerce. "Through one connection, the CommerceHub platform allows us to rapidly expand products to major retailers and product selection to our customers who purchase goods from the Discovery Channel catalogs and e-commerce site."
Discovery Commerce is the retail and licensing arm of Discovery Communications, Inc, the leader in real-world media and entertainment. Discovery Commerce's retail platforms include more than 100 Discovery Channel Stores, the Discovery Channel Store Catalog, and www.Discoverystore.com and its affiliates. CommerceHub's Universal Connection Hub provides a single platform for Discovery to reliably integrate both new suppliers and new retailers with a streamlined fulfillment process for online and catalog orders. CommerceHub's Drop-Ship Master™ solution will enable Discovery to achieve rapid virtual inventory expansion by empowering multiple channel suppliers to fulfill orders directly to the end customer. Discovery maintains complete visibility and control over the process, allowing it to achieve high levels of brand management, fulfillment performance and customer service.
"Discovery's aggressive activity in the multi-platform marketplace requires rapid growth of its product offerings," said Doug Reed, Vice president of sales at CommerceHub. "CommerceHub's Drop-Ship Master™ Solution will help Discovery handle larger volumes of online and catalog orders more effectively. We are confident that our solutions will provide the supply chain connectivity and fulfillment that will enable Discovery Communications to achieve its business objectives."
About Discovery Commerce
Discovery Commerce extends the Discovery experience through a broad array of engaging and entertaining products and services. Discovery's retail channels include a nation-wide chain of Discovery Channel Stores, the Discovery Channel Store catalog, robust online shopping (discoverystore.com) and direct-to-consumer businesses, and strategic third-party retail and merchandising partnerships. Discovery Domestic Licensing translates network brands and signature series into a wide array of innovative products that are sold through well-known, third-party retailers.
BBC America in the United States. DCI's ownership consists of four shareholders: Discovery Holding Company (NASDAQ: DISCA) (NASDAQ: DISCB), Cox Communications, Inc., Advance/Newhouse Communications and John S. Hendricks, the Company's Founder and Chairman.
About CommerceHub
CommerceHub is the industry's leading provider of fulfillment and integration solutions for retailers and wholesale distribution companies. With nearly a decade of experience working with Top 25 retailers, distribution supply chains and a wide array of major brand name suppliers, CommerceHub manages nearly $1 billion in goods annually on behalf of such industry leaders as Costco, QVC, Staples, Circuit City, eToys, Kmart, Sears, Target, Walgreens, Dell, Toshiba, Sanyo, Minolta, Gateway and Little Tikes.
For information on the CommerceHub Supply-on-Demand platform, Universal Connection Hub, Drop-Ship Master or Product Master, visit www.commercehub.com.
TicketNetwork.com Confirms Near Capacity Attendance at Ticket Summit Scheduled for July 19th & 20th in Las Vegas
First Annual Ticket Summit Event to Host Leading Ticketing Industry Firms at The Venetian Hotel & Conference Center
TicketNetwork.com, the leading technology solutions provider dedicated to addressing the needs of secondary-market ticket brokers, today announced that it anticipates a capacity crowd at the first annual Ticket Summit event scheduled to take place at The Venetian in Las Vegas, Nevada on July 19th and 20th. Nearly three-hundred ticket brokers, wholesalers, software vendors, venture capital firms, search engine marketing firms, concert promoters and ticketing agents have confirmed their attendance at the conference.
Ticket Summit is a primary and secondary ticket industry conference and trade show which will host a consortium of ticket community experts and leaders. Interactive forums and expert panels at the event will educate and enhance the knowledge of ticket industry professionals. Additionally, show exhibitors and demonstrations of leading edge ticketing industry products will provide a glimpse of the future of the ticketing industry.
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"The secondary market is expanding rapidly and there's a growing trend of traditional secondary market vendors and brokers aggressively promoting events and inking sponsorship deals with college and professional sports teams," said Donald Vaccaro, president, TicketNetwork.com and organizer of the Ticket Summit conference. "This conference will provide attendees with valuable insight into the ticketing industry's newest technology offerings as well as expert perspectives on the latest trends shaping the primary and secondary ticketing industry," added Vaccaro.
Ticket Summit will host a range of ticketing companies among its attendees, including the following industry leaders: TicketLiquidator, TicketNetwork, RazorGator, StubHub, TicketMaster, Tickets.com, TeleCharge, Fandango, Live Nation, Concerts West Circles, American Express, Miva, eBay, Tix Corp. and Yahoo!
About TicketNetwork.com
TicketNetwork.com provides leading-edge software that powers the world's largest ticket exchange system. TicketNetwork Point-of-Sale™ software provides brokers with comprehensive online tools to manage and grow their businesses. TicketNetwork Exchange™ is a powerful ticketing tool that enables brokers to access to the world's largest aggregate ticket-distribution channel. TicketNetwork Web Services™ creates customized e-commerce websites in both hosted and plug-in formats for Customer wishing a private Labeled solution. TicketNetwork.com was founded in 2002 and is headquartered in Vernon, Connecticut. For more information, visit www.ticketnetwork.com.
About Ticket Summit
Ticket Summit is a primary and secondary ticket industry conference and trade show to be held at the Venetian Hotel and Conference center on July 19th and 20th. It will host a consortium of over 300 ticket community experts and leaders. For more information, visit www.ticketsummit.org.
Golden Chief Acquires Additional Leases
Golden Chief Resources, Inc. (PINKSHEETS: GCHR) announces the acquisition of approximately 1,100 acres of oil and gas leases located in Elk County, Kansas in exchange for 200,000 shares of its common stock. The 80% net revenue leases contain 13 existing oil and gas wells which are currently shut-in. Two of the wells can be brought on production with the installation of only minimal surface equipment which the Company has in inventory. The Company expects to install the equipment and begin producing the wells early in August.
Bob Greer Leads Commissioner of Agriculture Poll
Latest Poll Shows Potential Republican Nominee Leading in the Race for Commissioner of Agriculture
The Anthony-Scott Hobbs' Citizen Georgia website's Commissioner of Agriculture Poll currently shows Mr. Greer with a commanding lead over the other three potential Republican candidates.
As of 11:00 am, Monday July 17th, Mr. Greer leads the poll with 56% of the vote. The poll has been open for one week and, following a large push in the Greer support base, the closest competition sits with only 26% of the vote. The poll will remain open until the day of the primary, July 18th.
Bob Greer is a Republican candidate for Georgia Commissioner of Agriculture whose focus is working on behalf of all Georgians and an intensive consumer protection agenda. He is a Georgia native who was born and raised on his family's farm and dairy in Jackson, Georgia, and is a graduate of West Georgia College with a degree in Business Management and Marketing. Mr. Greer is a Vietnam Veteran, a Master Mason and a Rotarian. Bob is a member of the Pi Kappa Alpha Fraternity, Roswell Rotary Club, Cumming/Forsyth Co. Chamber of Commerce, and has worked in sales, marketing and business consulting. Greer and his wife of 37 years have 3 grown children and 5 grandchildren. They currently live in Cumming, Georgia.
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The Citizen Georgia can be heard live on WGKA 920 AM or on the Web from 2:00-4:00 p.m. You can reach them at 404-231-1190 or at www.CitizenGeorgia.com. Join them each week as they engage the community in the business, political and cultural happenings around the State of Georgia.
For more information on Bob Greer, please visit www.BobGreer.Org or call 770-663
New Mini Growth Trend Worth the RISKA?
Security component and switch manufacturer George Risk Industries (OTCBB: RISKA) has been chosen for this week's "SPOT Feature" in the Knobias Small-Cap ClipReport. Each week, Knobias scours the small-cap universe to find overlooked companies with sound fundamentals and one or more growth catalyst on the horizon. The weekly "SPOT" feature may be accessed via our daily ClipReport newsletter (free to all subscribers). To receive the Small-Cap ClipReport daily, please visit: http://www.knobias.com/front/product/clipreport/
New Mini Growth Trend Worth the RISKA?
George Risk Industries (OTCBB: RISKA) designs, manufactures, and markets burglar alarm components and systems, pool alarms, computer keyboards, push button switches, thermostats, EZ Duct wire covers, and water sensors. The Company sells its products through a network of distributors, dealers and installers in the US, Canada, and Europe. The security burglar alarm products comprise 85% and pool alarms comprise 9% of net revenues. The Company has two manufacturing plants in the state of Nebraska.
The BULLS Say...
New Growth Trends, Solid Balance Sheet. RISKA is diversified in all types of products requiring switches, and in the past year, it has increased capacity by nearly double to meet new demand. For the last 4 quarters, RISKA has seen Y/Y growth in sales and EPS ranging from 10-16% and 21-30%, respectively. Big difference compared to the flat growth in previous years. EPS growth has been boosted by stock buybacks as RISKA searches for "lost shareholders" and a newfound double-digit sales growth trend. For 2006, RISKA should reflect increases from several new products, including new pool alarms, short roller ball switches and its CC-01 controller. Internationally, sales to its European distributor are +36% Y/Y for the last 9 nine months and are expected to rise. Fundamentally, RISKA has a solid balance sheet with a book value above its enterprise value.
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The BEARS Say...
Thinly Traded and Tightly Held. To be trading around $7/shr, RISKA is one of the most thinly traded stocks we have featured in the "SPOT." Trading such a thin issue is extremely RISK-y, not to mention that despite being public, RISKA is really just a small family business owned 55% by the CEO. Don't expect a lot of action until Q4 is released and probably not a lot then either.
About the Small-Cap ClipReport
Most small-cap newsletters just tout stocks. Instead, the ClipReport provides a comprehensive, journalistic view of each day's small-cap action. This nightly, 10-page PDF email consolidates actionable information and analysis covering the world of stocks below a $500 million marketcap threshold. Starting with "Page One," Knobias breaks down one of the week's most interesting topics in the small-cap universe. The remaining 9 pages provide users with each day's top stories, news movers, strong closers, after-hours events, earnings, corporate actions, PIPE deals, Reg SHO stocks and symbol/name changes. The ClipReport is a daily "must-read" for every small- and micro-cap investor.
About the Weekly SPOT
Each week, Knobias scours the small-cap universe to find overlooked companies with sound fundamentals and one or more growth catalyst on the horizon. This search typically features a small-cap stock exhibiting strong growth while undervalued relative to public peers. SPOT selections tend to be "under-priced" due to lack of coverage or a failure for the marketplace to fully understand "the story." SPOT companies must meet the same basic criteria as our Small-Cap ClipReport, i.e. under $500M marketcap...banks, ETFs, funds and utilities are excluded. Furthermore, SPOT selections must be fundamentally sound with growth, profitability (or near) and clear prospects for price appreciation. Knobias is never compensated for SPOT selections, and NO position will be held in SPOT stocks by Knobias, its management or staff while the stock is being highlighted.
To subscribe to the FREE Knobias Small-Cap "ClipReport", click below: http://www.knobias.com/clipreport
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About Knobias, Inc.
Knobias, Inc. (OTCBB: KNBS), pronounced "no-b-s," provides a wide range of financial information solutions for all sides of the U.S. stock market. Knobias combines proprietary content & technology into efficient platforms for the consolidation, distribution & targeted presentation of investment decision information for customers & affiliates. Knobias platforms provide news, filings, fundamentals, transaction databases, calendars, research, tools & analysis for all U.S. equities with a special emphasis on small-caps. Knobias customers include retail investors, day-traders, buy-side & sell-side professionals, public issuers, financial websites & financial content providers. For more information about Knobias, Inc. products, please visit www.knobias.com.
FORWARD-LOOKING SAFE HARBOR STATEMENT
To the extent that this release discusses any expectations concerning future plans, financial results or performance, such statements are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and are subject to substantial risks and uncertainties. Actual results could differ materially from those anticipated in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and reflect only management's belief and expectations based upon presently available information. These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties. Knobias assumes no obligation to update any of the forward-looking statements in this release.
Premier Commercial Bancorp Completes Successful Public Offering
Premier Commercial Bancorp (OTCBB: PCBP) completed its public offering with the sale of 799,757 shares of its common stock at $22 per share. Gross proceeds from the public offering were $17,594,654 with offering costs of approximately $100,000.
Of the net offering proceeds, $8.7 million will be used to capitalize a new bank subsidiary in Arizona, and the remaining net proceeds of the offering will be used by Premier Commercial Bancorp for general corporate and working capital purposes and to support future growth.
The Office of the Comptroller of the Currency has granted preliminary conditional approval for the organization of Premier Commercial Bancorp's new bank subsidiary in Arizona which is anticipated to be open for business in the early fourth quarter of 2006.
"We are very pleased with the success of the public offering, which was oversubscribed. The additional capital allows us to grow Premier Commercial Bank and enables us to capitalize our proposed bank subsidiary in Arizona," commented Kenneth J. Cosgrove, Chairman and CEO.
About Premier Commercial Bancorp
Premier Commercial Bancorp is a registered bank holding company based in Anaheim, Calif. Premier Commercial Bank, a wholly owned subsidiary of Premier Commercial Bancorp, is a full-service bank specializing in small- to medium-size businesses, professionals, entrepreneurs and hospitality industry clients. Launched in November 2001, Premier Commercial Bank is the only independent bank with headquarters in Anaheim. For further information, call (714) 978-2400 or visit the Web site at www.pcboc.com.
Cautionary Statement: Certain matters discussed in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based upon current management expectations and, therefore, are subject to certain risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed, suggested, or implied by the forward-looking statements. Forward-looking statements are effective only as of the date that they are made, and Premier Commercial Bancorp assumes no obligation to update this information. These forward-looking statements include Premier Commercial Bancorp's ability to grow and capitalize its proposed bank subsidiary in Arizona. In addition, these forward-looking statements, and Premier Commercial Bancorp's business, are subject to the risk factors described in the filings of Premier Commercial Bancorp with the Securities Exchange Commission
Guaranty Financial Services Promotes John Wellborn to Senior Vice President
Guaranty Financial Services today announced the promotion of John Wellborn to Senior Vice President, Chief Continuity & Security Officer. Guaranty also announced he will serve as Director of Emergency Management for Temple-Inland, Inc., Guaranty's parent company. He will be responsible for preparing for, mitigating against, responding to and recovering from emergencies and/or disasters.
Wellborn has over 16 years of experience in emergency management and has been with Guaranty and Temple-Inland since March 1996. He earned a B.S. in Emergency Administration and Planning and holds several advanced certifications in the industry
Guaranty Bank, with more than $17 billion in assets, operates a network of more than 150 banking centers throughout California and Texas. Guaranty Bank is a member of the FDIC and an Equal Housing Lender. Guaranty Bank and its affiliates are owned by Temple-Inland Inc. which operates four business segments: corrugated packaging, forest products, real estate and financial services. Temple-Inland's 2.0 million acres of forestland are certified as managed in compliance with ISO 14001 and in accordance with the Sustainable Forestry Initiative® (SFI) Standard of the Sustainable Forestry Board to ensure forest management is conducted in a scientifically sound and environmentally sensitive manner. Temple-Inland's common stock (TIN) is traded on the New York Stock Exchange and NYSE Arca Inc. Temple-Inland's address on the World Wide Web is www.templeinland.com.
When Choosing a Financial Institution, Gay Men and Lesbians More Likely Than Heterosexuals to Emphasize Importance of Web Access
New national survey by Harris Interactive and Witeck-Combs Communications also emphasizes the importance of financial institutions' discrimination policies to gay men and lesbians
When deciding where to conduct their business, gay men and lesbians (60%) are more likely than heterosexuals (50%) to say it is important that a financial services institution provide services through the Internet.
In addition, gays and lesbians are more likely than heterosexuals to say it is important that a financial services institution is sensitive to the fact that different kinds of families have unique needs (55% vs. 42%), has inclusive policies and bans discrimination against "people like me" (69% vs. 38%), and has advertising that portrays "people like me" (20% vs. 11%). Gays and lesbians also are more likely than heterosexuals to agree that it is important for them to know that a financial institution does not discriminate (69% vs. 41%).
These are several highlights of a nationwide online survey of 2,433 U.S. adults (ages 18 and over) conducted between June 7 and 13, 2006, by Harris Interactive(R), a worldwide market research and consulting firm, in conjunction with Witeck-Combs Communications, Inc., a strategic public relations and marketing communications firm with special expertise in the gay, lesbian, bisexual and transgender market (GLBT).
"Though it's not surprising to learn of people's sensitivity toward how banks and financial institutions handle their assets, we found it interesting that gays and lesbians were more likely to favor the Internet in conducting their transactions," says John Butler, Senior Communications and Marketing Strategist of Witeck-Combs Communications. "And, the results clearly show how important it is to gays and lesbians that their financial institutions express equal respect and fairness."
Financial decision-making and seeking advice
The survey finds that gays and lesbians are more likely than heterosexuals to agree that they feel confident enough to make sensible investment decisions (33% vs. 23%) and that they enjoy learning about investing and talking with their friends and families about it (27% vs. 18%).
Additionally, gays and lesbians are slightly more likely than heterosexuals to seek financial advice from the Internet (22% vs. 17%) or from magazines, books or newspapers (19% vs. 11%), but they are slightly less likely to seek financial advice from an accountant (4% vs. 9%) or directly from a bank representative (4% vs. 9%).
TABLE 1 IMPORTANT FACTORS WHEN DECIDING ON A FINANCIAL INSTITUTION "When you are deciding where to conduct your business, how important is it that a financial services institution does the following?" Summary of those who responded "very" or "extremely important" Base: All adults Total Gay/Lesbian Heterosexual (n=2,433) (n=179)* (n=2,114) % % % Provides fast, efficient service 72 68 73 Is very knowledgeable and experienced in financial services 71 73 71 Has friendly and responsive employees 70 70 70 Has competitive pricing 64 62 65 Is convenient to where I live or work 60 61 60 Provides a variety of methods to access account(s) 60 66 60 Provides services through the Internet 50 60 50 Is sensitive to the fact that unique kinds of families have unique needs 43 55 42 Has inclusive policies and bans discrimination against people like me 39 69 38 Is recommended by someone I trust 38 42 38 Is involved in community activities that are important to me 24 28 24 Has advertising that portrays people like me 12 20 11 Has advertising I like 9 12 8
Note: Total includes all heterosexual, gay, lesbian, bisexual and transgender respondents. Total and gay/lesbian samples also include an over- sample of gay/lesbian respondents.
TABLE 2 AGREEMENT/DISAGREEMENT ABOUT ASPECTS OF MANAGING FINANCES "Please tell us how strongly you agree or disagree with the following statements." Summary of those who responded "agree" or "strongly agree" Base: All adults Total Gay/Lesbian Heterosexual (n=2,433) (n=179)* (n=2,114) % % % I am in control of my finances. 45 47 45 It's important to me to know that a financial institution does not discriminate. 42 69 41 I am not very knowledgeable about the stock market. 36 32 36 I am concerned about making the wrong choice in my investment decisions. 33 38 33 I worry about my individual privacy when dealing with financial institutions. 29 27 29 I feel confident enough to make sensible investment decisions. 23 33 23 I enjoy learning about investing and talking with my friends and family about it. 18 27 18 Financial institutions hold customers like me in high respect. 18 25 18 I feel obligated to invest my money. 13 12 14 I am dissatisfied with the assistance that has been provided to me by financial institutions. 11 15 10 In my case, investment decisions are about luck, not skill. 9 9 9
Note: Total includes all heterosexual, gay, lesbian, bisexual and transgender respondents. Total and gay/lesbian samples also include an over- sample of gay/lesbian respondents.
TABLE 3 HOW FREQUENTLY SOURCES USED FOR FINANCIAL INFORMATION "How often do you seek financial advice and information from the following sources?" Summary of those who responded "often" or "very often" Base: All adults Total Gay/Lesbian Heterosexual (n=2,433) (n=179) (n=2,114) % % % Internet 16 22 17 Friends 15 15 15 Financial planner 12 9 12 Magazines, books, or newspapers 12 19 11 Accountant 9 4 9 Bank representative 9 4 9 Broker 8 9 8 Insurance agent 5 3 5 Television 4 4 4 Attorney 4 5 4
Note: Total includes all heterosexual, gay, lesbian, bisexual and transgender respondents. Total and gay/lesbian samples also include an over- sample of gay/lesbian respondents.
Methodology
Harris Interactive(R) conducted the study online within the United States between June 7 and 13, 2006, among 2,433 adults (ages 18 and over), of whom 2,114 indicated they are heterosexual and 242 self-identified as gay, lesbian, bisexual or transgender (this includes an over-sample of gays and lesbians). Figures for age, sex, race, education, region and income were weighted where necessary to bring them into line with their actual proportions in the population. In addition, the results for the gay and lesbian sample were weighted separately based on profiles of the gay and lesbian populations that Harris Interactive has compiled through many different online surveys. Propensity score weighting was also used to adjust for respondents' propensity to be online.
All surveys are subject to several sources of error. These include: sampling error (because only a sample of a population is interviewed); measurement error due to question wording and/or question order, deliberately or unintentionally inaccurate responses, nonresponse (including refusals), interviewer effects (when live interviewers are used) and weighting.
With one exception (sampling error) the magnitude of the errors that result cannot be estimated. There is, therefore, no way to calculate a finite "margin of error" for any survey and the use of these words should be avoided.
With pure probability samples, with 100 percent response rates, it is possible to calculate the probability that the sampling error (but not other sources of error) is not greater than some number. With a pure probability sample of 2,433 adults one could say with a ninety-five percent probability that the overall results have a sampling error of +/- 2 percentage points. Sampling error for the sub-sample of heterosexuals would be +/- 2 percentage points, and for the sub-sample of gays and lesbians +/- 7 percentage points. However that does not take other sources of error into account. This online survey is not based on a probability sample and therefore no theoretical sampling error can be calculated.
These statements conform to the principles of disclosure of the National Council on Public Polls.
About Witeck-Combs Communications, Inc.
Witeck-Combs Communications, Inc. (http://www.witeckcombs.com/) is the nation's premier strategic marketing communications firm, specializing in reaching the gay and lesbian consumer market. With over nine years experience in this unique market, Witeck-Combs Communications has developed respected relationships throughout the community and serves as a bridge between corporate America and gay and lesbian consumers. In April 2003, American Demographics magazine identified Bob Witeck and Wes Combs as two of 25 experts over the last 25 years who have made significant contributions to the fields of demographics, market research, media and trend-spotting for their path- breaking work on the gay and lesbian market.
About Harris Interactive(R)
Harris Interactive is the 13th largest and fastest-growing market research firm in the world. The company provides research-driven insights and strategic advice to help its clients make more confident decisions which lead to measurable and enduring improvements in performance. Harris Interactive is widely known for The Harris Poll, one of the longest running, independent opinion polls and for pioneering online market research methods. The company has built what could conceivably be the world's largest panel of survey respondents, the Harris Poll Online. Harris Interactive serves clients worldwide through its United States, Europe and Asia offices, its wholly-owned subsidiary Novatris in France and through a global network of independent market research firms. The service bureau, HISB, provides its market research industry clients with mixed-mode data collection, panel development services as well as syndicated and tracking research consultation. More information about Harris Interactive may be obtained at http://www.harrisinteractive.com/.
To become a member of the Harris Poll Online, visit http://www.harrispollonline.com
