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Tuesday, July 24, 2007
WILMINGTON, DE and SANTA ROSA BEACH, FL—(MARKET WIRE)—07/24/07—Perihelion Global (PINKSHEETS: PHGI), a development company with interests in natural resources, alternative energies, and advanced communications, today announced confirmation from the Delaware Secretary of State that the company’s lawful and documented authorized shares have been reduced by 98% to 500,000,000 per the company’s board resolution adopted earlier this year.
Previously, the company had inherited an Authorized Share structure of 30,200,000,000 as a result of the merger with Vision Works Media Group last year. The company believes the now completed 98% reduction in its Authorized Shares will further enhance shareholder value, and eliminate any market concerns about potential mass dilution of the company’s stock. Also, since this action affected shares that had not been issued, the 98% reduction of the Authorized Shares of the company in no way reduces the shares held by current shareholders. In consideration of the current climate of the company’s share price, and with a view towards the revenue producing acquisitions the company is contemplating in the near term, the company believes it would not be in the best interest of shareholders to further reduce the authorized share count below the 500,000,000 currently registered with the Delaware Secretary of State. To that effect, the company will organize its Board of Directors to negate the previously announced resolution for an additional 250,000,000 reduction.
“We are pleased to have formally completed the 98% reduction of our Authorized Shares,” stated John H. Beebe, Chairman, Chief Executive Officer and President of Perihelion Global. “We realize that previous share structure that we inherited as a result of the merger was causing some undue concern and speculation among some shareholders and in the public markets. This action should clearly alleviate those concerns.”
Perihelion is currently in various stages of progression with several potential acquisition targets, including the completion of Due Diligence under the formal Letter of Intent for the OTCBB listed company. Pending outcome or completion of several ongoing discussions, the company’s intention is to provide shareholders accurate share information as a result of any acquisitions completed.
The company will further clarify and disclose that in an effort to continue building a solid asset base and a determination to acquire existing revenue-producing businesses or properties, Perihelion will continue to issue restricted stock and other compensatory means as necessary to complete acquisitions that enhance shareholder value and provide adequate compensation for officers and directors.
The company expects to release a formal update on the status of these acquisitions in the near future.
About Perihelion Global:
Perihelion Global focuses on the acquisition, development and management of technologies, strategic commodity reserves and assets in the energy, natural resource and communications markets. Perihelion’s management team specializes in providing solutions for the strategic challenges of the 21st Century. We lead with decades of experience in environments that are mission critical in today’s global marketplace: Technology, Energy and Communications.
Website: http://www.perihelionglobal.com
Monday, July 23, 2007
iFinix RealTime Information Platform Subscription List Is Growing
JAMAICA, NY--(MARKET WIRE)--Jul 23, 2007—iFinix Corp. (Other OTC:INXR.PK - News) announced today that it is delaying the issuance of its financial statements for calendar year 2006 and the first two quarters of 2007. The second quarter ended June 30.
The company also announced that in the first week of operation of the iFinix RealTime Information Platform that the subscription list has risen substantially as more users continue to reap the benefits of the product. The phone and web-based technical support system is responding effectively to users. Moreover, feedback from users has been strongly positive.
The company is in the process of completing the financial statements, listed above, and will issue them as soon as possible.
iFinix Chairman Drew Budhu said, “Owing to the complexity of the equity and software accounting requirements, we have delayed the financial statement issuance. We are taking the utmost care to ensure the accuracy of this initial filing so that the company will be eligible to be listed on the Over the Counter Bulletin Board.
“iFinix is committed to timely financial reporting,” he added, “and is laying the ground work to fulfill that commitment in the future. Once these statements are filed, the financial statements will be filed in the future on a timely basis.”
About iFinix Corp.
iFinix is a diversified information technology services and solutions company with expertise in systems integration, outsourcing, infrastructure and server technology. iFinix has established a product line that delivers financial and business information with streaming, real-time market data, news and analytics to professionals and active individual investors. The company’s suite of products includes iFinix RealTime, iFinix Trader and eFinix. Visit http://www.iFinix.com
Legal Notice Regarding Forward-Looking Statements:
Safe Harbor: This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of iFinix Corporation to be materially different from the statements made herein.
Contact:
Contact:
iFinix Corporation
Investor Relations
516-504-3981 x301
Wednesday, July 18, 2007
PENNINGTON, N.J.--(BUSINESS WIRE)--WorldWater & Solar Technologies Corp. (OTC BB:WWAT.OB - News), developer and marketer of proprietary high-power solar systems, today announced that the Company has signed a Letter of Intent with M&G Promociones de Vivienda Urbana S.A., a real estate developer in Spain, to build several solar farms in Lorca (Murcia), Spain over the next five years. The contract to be negotiated will reflect plans by M&G to build three 10-MegaWatt (MW) farms over the next three years, with implementation starting in 2008 - 10MW each year - along with two 50MW farms in the fourth and fifth years. Negotiations will begin within weeks in Madrid to conclude the contract, which will be subject to conditions including financing, licensing and other commercial and permitting issues.
“This Letter of Intent represents a new phase of growth for WorldWater,” stated Quentin T. Kelly, Chairman and CEO. “WorldWater has been chosen to provide complete turnkey systems and support for these massive solar electric farms in Spain, where renewable power is expected to provide long-term energy solutions with minimal environmental impact. We look forward to announcing the final terms of this agreement and see this as a transformational event for our company - validating both our technology and leadership in the industry. We expect to incorporate the solar concentrator technologies of both ENTECH, Inc., the firm we have signed a Letter of Intent to acquire, and EMCORE Corp., the company which invested in WorldWater last year to terrestrialize its space technology, in these multi-megawatt projects.”
About WorldWater & Solar Technologies Corp:
WorldWater & Solar Technologies Corporation is a full-service, international solar electric engineering and water management company with unique, high-powered and patented solar technology that provides solutions to a broad spectrum of the world’s electricity and water supply problems. For more information about WorldWater & Solar Technologies Corp., visit the website at http://www.worldwater.com.
About M&G Promociones de Vivienda Urbana S.A.
With head offices in Madrid, M&G Promociones (CIF A81968018) is a real estate development company with principal land and housing development projects in Madrid, Valencia and Murcia provinces.
Forward Looking Statements:
Except for historical information contained herein, this document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks and uncertainties that may cause the Company’s actual results or outcomes to be materially different from those anticipated and discussed herein. Further, the Company operates in industries where securities values may be volatile and may be influenced by regulatory and other factors beyond the Company’s control. Other important factors that the Company believes might cause such differences are discussed in the risk factors detailed in the Company’s 10-KSB and its quarterly reports on Form 10-QSB both as filed with the Securities and Exchange Commission, which include the Company’s cash flow difficulties, dependence on significant customers, and rapid development of technology, among other risks. In assessing forward-looking statements contained herein, readers are urged to carefully read all cautionary statements contained in the Company’s filings with the Securities and Exchange Commission.
Contact:
WorldWater & Solar Technologies
Jessie Sullivan, 609-818-0700 X20
JSullivan@worldwater.com
or
Press Contact:
Mike Breslin Productions LLC
Mike Breslin, 201-652-1287
mbrez@aol.com
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