M2 PRESSWIRE-30 June 2008-PennyPerformers.com: Pennyperformers.com "Penny Stocks that Perform" picks are -- -- SMWF, QTWW, KYUS, ITUI, GYGC, GLCC(C)1994-2008 M2 COMMUNICATIONS LTD
RDATE:30062008
-- Pennyperformers.com "Penny Stocks that Perform" picks are: Seamless Wi-Fi, Inc. (OTCBB: SMWF), Quantum Fuel Systems Technologies Worldwide, Inc., (Nasdaq: QTWW), Kentucky USA Energy, Inc. (OTCBB: KYUS), i2Telecom International, Inc. (OTCBB: ITUI), Guyana Gold Corp. (OTCBB: GYGC) and Good Life China Corporation (PINKSHEETS: GLCC)
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Jun 30, 2008 -- Seamless Wi-Fi, Inc. (OTCBB: SMWF) announced today that, as of July 1st, 2008, it is turning over to WebCenter Technologies Inc., a subsidiary of ICOA, Inc., all the hotel properties that offer Wi-Fi services provided by Seamless Wi-Fi subsidiary Seamless Skyy-Fi, Inc. for the past 3 years. After careful evaluation of Wi-Fi service providers, ICOA, Inc. was selected because of their long history in the Wi-Fi industry and the high quality of their Managed Services capabilities.
This transfer will result in certain operating savings as well as committing available capital to the growth of the recently announced re-organization of our subsidiaries, which includes newly created software development subsidiary Seamless TEK Labs, Inc. and Seamless Sales subsidiary FMSNETCHECK, LLC.
Seamless Wi-Fi, Inc. also announced that CEO and President, Al Reda, was featured in an exclusive interview with www.computeroutlook.com. In the interview, electronic experts from Computer Outlook discussed the potential of Seamless Wi-Fi's S-Gen. To hear the interview in its entirety, visit http://computeroutlook.com/dailyshows.php and click on "Daily Shows" and locate the June 20 Interview.
About Seamless Wi-Fi, Inc.
Seamless Wi-Fi, Inc. is a Las Vegas-based company quoted on the OTCBB: SMWF. Seamless Wi-Fi develops and markets secure, cutting-edge hardware and software Internet communications products and services through its three operating subsidiaries: Seamless Internet, Inc. ; Seamless TEK LABS, Inc.; and FMSNETCHECK LLC.
June 30, 2008 -- Quantum Fuel Systems Technologies Worldwide, Inc., (Nasdaq: QTWW) will hold a conference call to announce its Fiscal 2008 Fourth Quarter financial results. The call will be held on Monday, June 30, 2008 at 1:30pm Pacific Time (4:30pm Eastern Time).
If you are interested in participating, call the following number ten minutes prior to the starting time: (706) 643-3625, Conference ID # 53823470. An operator will check your name and organization. You will be asked to wait until the call begins.
For those of you unable to join us for this earnings call, a playback of this call will be available via telephone approximately two hours after the call until Tuesday, July 15, 2008 at 1:30 p.m. Pacific time. The number for this service is (800) 642-1687 or (706) 645-9291. The call will also be available on the Company's Investor Relations web page by Tuesday, July 15, 2008:
http://www.qtww.com/about/investor_information/conference_calls/index.php
The call will also be available at its investor relations counsel's webpage at http://www.redchip.com.
For assistance with this call, please call Elaine Lovre at (206) 315-8242.
About Quantum:
Quantum Fuel Systems Technologies Worldwide, Inc., a fully integrated alternative energy company, is a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum's portfolio of technologies includes advanced lithium-ion battery systems, electronic controls, hybrid electric drive systems, hydrogen storage and metering systems, and alternative fuel technologies that enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and alternative fuel vehicles.
Quantum's powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of hybrid and plug-in hybrid, hydrogen-powered hybrid, fuel cell, alternative fuel, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum's customer base includes automotive OEMs, dealer networks, fleets, aerospace industry, military and other government entities, and other strategic alliance partners.
Quantum has also formed a new company with Fisker Coachbuild, LLC, which is called Fisker Automotive, Inc. Fisker Automotive will offer a range of environmentally friendly premium cars, incorporating Quantum's proprietary high-performance plug-in-hybrid electric vehicle architecture, known as "Q-Drive", into a unique chassis that will enable optimizing the performance and vehicle dynamics.
Jun 30, 2008 -- Kentucky USA Energy, Inc. (OTCBB: KYUS), an early stage natural gas exploration and production company, announced today that the Company has closed on a $10 million senior secured credit facility with NSES 12, LLC, a funding vehicle of New Stream Capital ("NSES"). At closing, the Company borrowed $2,500,000 and, at the sole discretion of NSES, may borrow up to an additional aggregate amount of $7,500,000 in tranches of a minimum of $2,500,000. All amounts borrowed from NSES must be used for the Company's development of its drilling program on its New Albany shale properties in the Illinois Basin in western Kentucky. This financing will provide the Company with the capital needed to begin to develop these properties. The NSES credit facility is secured by all of the properties now owned and to be acquired by the Company's operating subsidiary, KY USA Energy, Inc., and the revenues to be derived from the production of natural gas on these properties, and is guaranteed by the Company.
"We are very pleased with the structure and terms of the agreement with NSES," Steven Eversole, CEO of Kentucky USA Energy commented. "The consummation of this loan facility is an important component in the Company's growth and will assist us in the achievement of our strategic objectives. As we have previously announced, we have begun drilling at our first well site and we will provide our shareholders with drilling updates as we move forward with our drilling efforts."
For further disclosure relating to this financing, please refer to our Form 8-K filed with the Securities and Exchange Commission, at http://www.sec.gov/.
About Kentucky USA Energy, Inc.
Headquartered in London, KY, Kentucky USA Energy, Inc. engages in the acquisition, exploration, and development of oil and natural gas resource properties, with a primary focus on New Albany shale gas in the Illinois Basin in western Kentucky. The Company is a growing independent energy company with the experience and technological expertise to develop its gas resources in the Illinois Basin's New Albany Shale.
Jun 30, 2008 -- i2Telecom International, Inc. (OTCBB: ITUI), a developer of award-winning patented and innovative high-quality Voice-over-Internet Protocol ("VoIP") products and services, today announced preliminary results for the three months ending June 30, 2008. For the 2008 second quarter, i2Telecom expects to report net income in excess of $4 million, or approximately $0.02 per share.
"We have long believed that some of the intrinsic value inherent in our expanding intellectual property portfolio could be monetized for the benefit of our shareholders, and the recent sale of our VoiceStick(R) patent will allow the Company to be nicely profitable for the second quarter of 2008," noted Paul Arena, Chief Executive Officer of i2Telecom International, Inc. "Proceeds from the patent sale also allowed us to significantly improve our balance sheet through the repayment of certain outstanding debt. Our management team and lawyers are currently evaluating additional opportunities to monetize intellectual property assets. From an operating perspective, we look forward to a significant acceleration in our revenue growth during the second half of the year, following the large-scale launch of our MyGlobalTalk(TM) service, which allows cell phone users to conveniently make long distance calls to anywhere in the world using low-cost mobile VoIP technology without having to rely upon WiFi phones or Internet access."
The Company's second quarter results benefitted from a gain of over $5 million related to the sale of a patent involving the Company's VoIP Services Access Module ("VSAM") technology, known in the marketplace as VoiceStick(R). i2Telecom International, Inc. retains a worldwide non-exclusive license under the patents for the VSAM. The transaction, which generated cash of $6.5 million, closed on May 30, 2008.
On June 23, 2008, the Company announced that it expects revenues from the sale of VOIP products and related services to exceed $5 million in the year ending December 31, 2008, compared with less than $1 million in revenues during 2007. This anticipated revenue growth will be driven by revenue-sharing and licensing agreements involving the Company's new MyGlobalTalk(TM) technology. In addition, the Company may have the opportunity to realize further gains from the monetization of a portion of its growing intellectual property portfolio.
The $6.5 million received from the patent sale, when combined with over $5 million of in projected operating revenues for the year, should result in total gross receipts in excess of $11.5 million for the year ending December 31, 2008.
Excluding VSAM-related continuation-in-part patent filings, the Company currently has patent applications pending related to over a dozen additional significant VoIP technologies, all of which are deployed today in the Company's VoIP technology offerings.
About i2Telecom International, Inc.
i2Telecom International, Inc. is a developer of award-winning patented and innovative high-quality Voice-over-Internet Protocol ("VoIP") products and services that employ best-of-breed VoIP technology and use a combination of the Company's own services network and the Internet to deliver high-quality phone calls, streaming video and text chat to customers on a global scale. i2Telecom International provides its VoiceStick(R), MyGlobalTalk(TM), Digital Portal communications and microgateway adapters for VoIP long-distance and other enhanced communication services to its subscribers. Its patent pending services technology platform is compliant with the Session Initiation Protocol ("SIP") telecommunications industry standard.
Jun 30, 2008 -- Guyana Gold Corp. (OTCBB: GYGC) is pleased to announce that a decision has been made to cancel 114,250,000 common shares. This cancellation will reduce the company's outstanding shares from 165,038,947 to 50,788,947, which represents approximately 70% of the issued and outstanding shares.
Eduard Aronov, President of Guyana Gold Corp., commented that, "This action to reduce the company's issued and outstanding shares shows the great commitment level management has for its shareholders and to the future growth of the company." Additionally he noted, "I am confident that our future revenue stream will continue to produce results that our shareholders have come to expect. These things, combined with other exciting events we see in the very near future, should make the next couple of years very exciting for Guyana Gold Corp."
Further details will be released as they become available.
About Guyana Gold Corp.
Guyana Gold Corp. is a junior mineral exploration company that specializes in identifying, acquiring and developing precious and base metal properties as well as assessing whether certain claims possess exploitable commercial and precious mineral reserves. The Company's objective is to develop a balanced global portfolio of early-to-advanced stage projects. Guyana is currently focused on gold projects in the Caribbean. In Guyana, the Company's key mineral project is located in the region of Port Kaituma.
June 27, 2008 -- Good Life China Corporation (PINKSHEETS: GLCC) is pleased to announce that the issuer has completed its private placement offering memorandum. The issuer is pleased to announce that the offering was fully subscribed for a total of $2,000,000.00.
The financing consisted of a non-brokered private placement of 225,000,000 units. Each unit consisted of one common share, and one share purchase warrant entitling the holder to purchase one additional common share at a price of $0.25 for two years following the closing, regardless of what the then current share price would be.
All shares issued pursuant to the placement will bear a legend restricting transfer until February 1, 2009.
Mr.Yang the company spokesperson said "The private placement was completed with accredited investors including some existing, and new shareholders from USA, Canada, England and Hong Kong. Simply, the accredited investor term is defined by various securities laws that delineates investors permitted to invest in certain types of investments, such as limited partnerships, hedge funds and angel investor networks. The term generally includes wealthy individuals, and organizations such as a corporation, endowment or retirement plans. In the USA there are specific guidelines as to who is considered an accredited investor. The reason we bring this to our follower's attention is that the issuer has received a number of inquiries from novice investors who unknowingly believe or are told that the float has increased and that some sort of immediate dilution is in effect. In fact, it is quite the opposite. While the float did increase temporarily as old and seasoned restricted shares matured, it then significantly decreased to its current level as posted on Pink Sheets. This was achieved with warrants being issued as per the issuers filings. Again, this is worth repeating, this private placement was completed with RESTRICTED SHARES being issued, and this private placement will not affect the float for some time yet to come.
Participants in the private placement include current and existing shareholders. It includes several high net worth accredited investors, including the Woo family from Hong Kong who are engaged in real estate development in the Vancouver Canada and Hong Kong area. They are investing in GLCC in this private placement and in the open market and are the issuers strongest supporters. The proceeds of the issuance will be used to further advance existing projects and expansions of new locations. In addition it will be used to launch its Check21 services in China together with its micro loan services in rural China, through its existing 1,800 existing outlets. The issuer expects to generate significant revenues from this source of funding.
The common shares of the Company are currently dually listed in the USA Pink Sheets (symbol GLCC.PK) and the Frankfurt Stock Exchange (Xe:L9X). The issuer is in good standings with Pink Sheets and ranked as a "Current Information" filer with its security.
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