PORTLAND, Ore.--(BUSINESS WIRE)--
Rim Semiconductor Company (OTCBB: RSMI), a company that develops technology for telecommunications service providers, announced today that it has reduced its indebtedness to its convertible note holders by 34% to $2,759,000, versus $4,182,000, as reported in its most recent 10QSB.
The reduction was effected when holders of its two-year 7% Senior Secured Convertible Debentures and its two-year 10% Secured Convertible Notes converted some of their principal and interest into shares of Rim Semi's Common Stock. The company has 4 billion shares of common stock authorized for issuance. As of July 11, 2008, following the issuance of the shares, the Company has issued all of its authorized common stock. Since July 11th, the closing price of RSMI has risen 100% from $0.0005 to $0.001 per share.
"I am very pleased that our convertible debt has reduced by 34%," stated Brad Ketch, the company's president and chief executive officer. "We issued these shares to investors who have invested in us before, and who continue to show support for our long-term growth."
In addition to the debt reduction, the company projects that the value of the derivative liability on its balance sheet will also proportionately decline when the derivative liability calculations are made at the end of the quarter, and based upon the closing price of RSMI on July 31, 2008.
About Rim Semiconductor Company
Rim Semiconductor Company (OTCBB: RSMI) develops technology for telecommunications companies to deliver demanding new video and data services with lower network costs. The company's products allow data to be transmitted at greater speed and across extended distances over existing copper wire--all with the highest quality of service--for a better end-user experience. For more information, visit www.rimsemi.com.
Road Wings RDWG Announces Network Deployment
LAS VEGAS, NV -- (MARKET WIRE) -- 07/22/08 -- OneFi Technology, Inc., along with its funding partner Road Wings, Inc. (PINKSHEETS: RDWG), announced today that it has been approved and is currently installing its WiMax/WiFi communications system in the city of Buena Park, CA. The OneFi Technology networks broadband signal will allow the citizens of Buena Park to access the internet at speeds up to 104 mbps. Additionally, the network will allow for VoIP, IPTV and first run movie downloads. The network design allows for ready expansion, and Dr. A. Omran, the CTO of OneFi Technology, stated, "Today's networks must allow for constant upgrades and the OneFi WiMax/WiFi network gives us an opportunity to capitalize on easy upgrades at a minimum of expense."
The standard network allows for 802.11-b-g, but the OneFi Technology network design incorporates the WiMax 801.16e signal which will go as far as twenty miles and also OneFi Technology uses 802.11-b-g and n to allow last mile user access.
Mr. David Cassidy, the owner of the newly installed network, was delighted to bring the OneFi Technology to Buena Park because it opens access not only for visitors, but also the underserved. David Cassidy is quoted as saying, "Although we have both Telco and cable, many consumers have trouble with both the affordability and lack of true broadband. With OneFi Technology those issues have been overcome." Mr. Tom White, OneFi CFO, stated, "The people in Buena Park now have a new set of broadband options with the arrival of OneFi's signal coverage in their community."
OneFi will also be installing its VoIP with users on a new market platform. Many residences in Buena Park have only had access to traditional landline access because of inconsistent wireless signal with the Buena Park cellular network.
The standard network allows for 802.11-b-g, but the OneFi Technology network design incorporates the WiMax 801.16e signal which will go as far as twenty miles and also OneFi Technology uses 802.11-b-g and n to allow last mile user access.
Mr. David Cassidy, the owner of the newly installed network, was delighted to bring the OneFi Technology to Buena Park because it opens access not only for visitors, but also the underserved. David Cassidy is quoted as saying, "Although we have both Telco and cable, many consumers have trouble with both the affordability and lack of true broadband. With OneFi Technology those issues have been overcome." Mr. Tom White, OneFi CFO, stated, "The people in Buena Park now have a new set of broadband options with the arrival of OneFi's signal coverage in their community."
OneFi will also be installing its VoIP with users on a new market platform. Many residences in Buena Park have only had access to traditional landline access because of inconsistent wireless signal with the Buena Park cellular network.
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HMGP Updates Shareholders On New Well
Hemi Energy Group, Inc. (Pink Sheets: HMGP) announces the new well on the Collins lease in Woodson County, Kansas has been fraced. Management believes this will be a good producing oil well based upon drill cuttings and wells logs and other experts' opinions. We will release a bbl count per day as soon as it is available, which should be someday next week based on normal completion techniques. We have 100% working interest and 80% net revenue interest in the Collins lease that is not mature and has had no oil production. Management believes the important natural gas - water solution drive is present in this well. Therefore longer production and slower decline curve will be much better than wells that were drilled on mature leases that have lost most of this drive. This well will have a much longer lasting production at a higher rate than wells which have been drilled on leases with mature wells in southeast Kansas. The new Weseloh well is producing oil but needs some additional completion techniques before we can determine its rate of production.
Hemi is in definitive document review for development of our very highly valued leases in North Dakota. There are wells producing multi-million dollar revenues per year per well on three sides of these leases that have and are expected to continue to produce millions in revenues for many years. Hemi also continues to be in several other on-going negotiations about development of leases in two other states.
Hemi's new oil well on the Weseloh lease has also identified the same five coal bed layers as are in our mature leases and the Collins lease. The new well's coal bed layers have very similar characteristics to the coal beds that are found approximately five miles away in our five mature leases with oil production. Therefore, a logical conclusion is being confirmed that there is a continuous blanket formation of very economically producible coal bed methane gas underlying these two groups of leases in southeast Kansas. The well logs of our new drilling is documenting that we have blanket CBM pay zones in the geological formations on these leases in southeast Kansas. When the new independent Kansas oil and gas reserve report is completed it will greatly increase the proven and probable oil reserves. This new report will include, the five mature leases, the three newly drilled leases, and for the first time the very substantial CBM gas reserves on all these leases in Kansas.
Hemi's very artificially low market cap is substantially book value based on conservative oil and gas industry standards, especially when ongoing lease negotiations and North Dakota's leases are factored in. Since stated number of shares outstanding in the April 17th press release, there were a little more than three million shares issued that are restricted and a little over one million shares were issued free-trading in total. Hemi has been cash flow positive for all of 2008 and continues to be cash flow positive from oil production. Hemi has more than sufficient funds on hand to complete the three new wells and all the supplies and equipment necessary for oil production from these wells. In addition to its budgeted funds, Hemi is also tanking oil as the price has risen the past several months.
Hemi Energy Group is an independent crude oil and natural gas producer employing a unique business model capitalizing on technological advances to exploit mature fields with millions of barrels of proven oil remaining in the ground. Using attractive lease/royalty packages Hemi has secured, in its history tens of thousands of acres of productive domestic projects. The company's forward-thinking strategy has placed it in an enviable position at a time when prices and global demand for oil continue to rise.
Hemi is in definitive document review for development of our very highly valued leases in North Dakota. There are wells producing multi-million dollar revenues per year per well on three sides of these leases that have and are expected to continue to produce millions in revenues for many years. Hemi also continues to be in several other on-going negotiations about development of leases in two other states.
Hemi's new oil well on the Weseloh lease has also identified the same five coal bed layers as are in our mature leases and the Collins lease. The new well's coal bed layers have very similar characteristics to the coal beds that are found approximately five miles away in our five mature leases with oil production. Therefore, a logical conclusion is being confirmed that there is a continuous blanket formation of very economically producible coal bed methane gas underlying these two groups of leases in southeast Kansas. The well logs of our new drilling is documenting that we have blanket CBM pay zones in the geological formations on these leases in southeast Kansas. When the new independent Kansas oil and gas reserve report is completed it will greatly increase the proven and probable oil reserves. This new report will include, the five mature leases, the three newly drilled leases, and for the first time the very substantial CBM gas reserves on all these leases in Kansas.
Hemi's very artificially low market cap is substantially book value based on conservative oil and gas industry standards, especially when ongoing lease negotiations and North Dakota's leases are factored in. Since stated number of shares outstanding in the April 17th press release, there were a little more than three million shares issued that are restricted and a little over one million shares were issued free-trading in total. Hemi has been cash flow positive for all of 2008 and continues to be cash flow positive from oil production. Hemi has more than sufficient funds on hand to complete the three new wells and all the supplies and equipment necessary for oil production from these wells. In addition to its budgeted funds, Hemi is also tanking oil as the price has risen the past several months.
Hemi Energy Group is an independent crude oil and natural gas producer employing a unique business model capitalizing on technological advances to exploit mature fields with millions of barrels of proven oil remaining in the ground. Using attractive lease/royalty packages Hemi has secured, in its history tens of thousands of acres of productive domestic projects. The company's forward-thinking strategy has placed it in an enviable position at a time when prices and global demand for oil continue to rise.
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Expo Holdings Projects $22M In Revenue
NORTH WILKESBORO, NC -- (MARKET WIRE) -- 07/21/08 -- Expo Holdings, Inc. (PINKSHEETS: EXPH), a holding Company, which wholly owns D&D Displays, Inc., is excited to announce it will formally begin work on a joint venture project that could exceed $22M in revenue.
Details on the project, joint venture partner and customer are currently being withheld for later release to protect the company's interests. Expo Holdings would also like to welcome Congresswoman Virginia Foxx on July 28, 2008. Formal information regarding her visit and agenda will be released by her office. The company will release additional press releases concerning this related visit.
The project is for one of the nation's larger retail store chains that serve up to 10M customers a week. The company will begin production in October on the first store packages and expects to ship several of the initial orders in late October. The scope of the project consists of up to 750 stores across the United States.
The company estimates up to $22M in revenue related to the project, most of which would be generated in 2009. Audited financial statements for 2006 and un-audited statements for 2007 are available on pinksheets.com. The company will file 1st and 2nd quarter financials for 2008 shortly.
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Details on the project, joint venture partner and customer are currently being withheld for later release to protect the company's interests. Expo Holdings would also like to welcome Congresswoman Virginia Foxx on July 28, 2008. Formal information regarding her visit and agenda will be released by her office. The company will release additional press releases concerning this related visit.
The project is for one of the nation's larger retail store chains that serve up to 10M customers a week. The company will begin production in October on the first store packages and expects to ship several of the initial orders in late October. The scope of the project consists of up to 750 stores across the United States.
The company estimates up to $22M in revenue related to the project, most of which would be generated in 2009. Audited financial statements for 2006 and un-audited statements for 2007 are available on pinksheets.com. The company will file 1st and 2nd quarter financials for 2008 shortly.
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Congresswoman To Visit Subsidarary Of EXPH
Congresswoman Virginia Foxx to Visit D&D Displays, Inc.
Congresswoman Virgina Foxx Will Tour D&D Displays, Which Recently Landed $22 Million Project for National Retailer
Jul 22, 2008 12:30:00 PM
View Additional ProfilesNORTH WILKESBORO, NC -- (MARKET WIRE) -- 07/22/08 -- On Monday, July 28, Congresswoman Virginia Foxx (NC-05) will be in North Wilkesboro, NC to tour the D&D Displays facility and speak with employees about policies that promote economic growth in North Carolina.
"Economic growth is a pillar of American freedom. That's why it is important for me to learn as much as possible about North Carolina's economy and industry. Strong businesses create good jobs and Congress must do everything it can to create an economic environment in which businesses can create jobs and thrive," Foxx said.
D&D Displays announced a new project this week that could provide up to $22 million in new revenue for the North Wilkesboro-based company. Foxx will be joined on July 28 by D&D Displays CEO James D. Brown as well as local business and government representatives.
James D. Brown stated, "D&D Displays is an American company producing American products, right here in North Carolina. We would like to thank Congresswoman Foxx for her help in keeping manufacturing jobs here in North Carolina. With our newest Milestone reached, we should double if not triple our employment base in 2009. Congresswoman Foxx's support for the local Chamber of Commerce and her active role in our community has helped companies like ours grow and prosper in a tough economy."
Congresswoman Virgina Foxx Will Tour D&D Displays, Which Recently Landed $22 Million Project for National Retailer
Jul 22, 2008 12:30:00 PM
View Additional ProfilesNORTH WILKESBORO, NC -- (MARKET WIRE) -- 07/22/08 -- On Monday, July 28, Congresswoman Virginia Foxx (NC-05) will be in North Wilkesboro, NC to tour the D&D Displays facility and speak with employees about policies that promote economic growth in North Carolina.
"Economic growth is a pillar of American freedom. That's why it is important for me to learn as much as possible about North Carolina's economy and industry. Strong businesses create good jobs and Congress must do everything it can to create an economic environment in which businesses can create jobs and thrive," Foxx said.
D&D Displays announced a new project this week that could provide up to $22 million in new revenue for the North Wilkesboro-based company. Foxx will be joined on July 28 by D&D Displays CEO James D. Brown as well as local business and government representatives.
James D. Brown stated, "D&D Displays is an American company producing American products, right here in North Carolina. We would like to thank Congresswoman Foxx for her help in keeping manufacturing jobs here in North Carolina. With our newest Milestone reached, we should double if not triple our employment base in 2009. Congresswoman Foxx's support for the local Chamber of Commerce and her active role in our community has helped companies like ours grow and prosper in a tough economy."
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