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Businessnewsnow.us: Stock News Update: AXTG, ENDE, PSPM
(M2 PressWIRE Via Thomson Dialog NewsEdge)
RDATE:06032008
New York, NY -- Axis Technologies Group, Inc. (PINKSHEETS: AXTG);
EnDevCo, Inc. (OTCBB: ENDE); PureSpectrum, Inc. (PINKSHEETS: PSPM)
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Axis Technologies Group, Inc. (PINKSHEETS: AXTG)
Axis Technologies Group, Inc. closed at $0.40 Wednesday, trading 41,270
shares.
Company News- March 6, 2008: Axis Technologies Group, Inc. and
SiteStuff, Inc. Sign Supplier Agreement
Axis Technologies Group, Inc. (PINKSHEETS: AXTG), a designer,
manufacturer and marketer of a proprietary line of energy saving and
daylight harvesting electronic dimming ballasts for the commercial
lighting industry, announced earlier today that Axis has signed a
Supplier Agreement with SiteStuff, Inc. SiteStuff is the nation's
leading procurement company in the commercial real estate industry with
a combined client portfolio of over one billion square feet. SiteStuff
assists companies in reaching their procurement goals, streamlining the
invoice and accounting process, and providing information that gives
companies greater visibility into their operational spending. In
addition, SiteStuff helps property owners and managers of commercial
real estate effectively manage the procurement of Maintenance, Repair
and Operating Supplies (MRO).
SiteStuff's clients include CB Richard Ellis, Cushman & Wakefield,
Jones Lang LaSalle, PM Realty Group and many others. To learn more
about SiteStuff, visit www.sitestuff.com.
Gary Boe, National Sales Manager for Axis, stated, "We are very excited
to open a new channel of distribution for our daylight harvesting and
dimming fluorescent ballasts with this signing of the SiteStuff
Supplier Agreement. We have a significant opportunity to have our
products presented directly to a large national customer base and the
actual end user. It is through our deliberate and consistent efforts to
build a distribution foundation with influential distributors that Axis
Technologies will make more lighting and real estate industry leaders
aware of the significant energy savings offered by our ballasts."
"SiteStuff is pleased to partner with Axis and add its energy-efficient
ballasts to our online Green Catalog of eco-friendly products. Our
clients are looking for additional ways to save energy in their
buildings, and the addition of this offering further validates our
commitment to delivering innovative solutions to our client base. We
look forward to helping our clients adopt green technology as an
integral part of their operations," stated Paul Cialdella, VP,
Operations, SiteStuff.
A demonstration video of the Axis Daylight Harvesting Ballast is
accessible at http://www.axistechnologyinc.com/video1.html. Investors
interested in receiving industry and company updates are invited to be
added to the company's e-mail database by e-mailing
ir@axistechnologyinc.com.
About the Axis Technologies Ballast
Axis Technologies Group, Inc. has developed an innovative new ballast,
an electronic component that regulates voltage in fluorescent lighting,
that focuses on expanding daylight harvesting into mainstream
fluorescent lighting applications. The patented Axis Dimming/Daylight
Harvesting Ballast is a new technology that transforms the ballast, a
once standard lighting industry staple, into a dynamic energy saving
system that can reduce lighting energy costs by up to 70%. The Axis DDH
Ballast utilizes an individual photo sensor to automatically adjust the
amount of electrical current flowing to the light fixture, and then
dims or increases lighting in conjunction with the amount of available
sunlight that may be harvested from available windows and sunlight. The
Axis DDH Ballast avoids "over-lit" conditions that increase energy
costs by keeping lighting "tuned" to the desired level in a designated
area.
About Axis Technologies Group, Inc.
Axis Technologies Group, Inc. (www.axistechnologyinc.com) conducts its
business through a wholly owned subsidiary, Axis Technologies, Inc., a
Delaware corporation headquartered in Lincoln, Nebraska. Axis
Technologies, Inc. designs, manufactures and markets a proprietary line
of energy-saving and daylight harvesting electronic dimming ballasts
for the commercial lighting industry. The company's target market is
small to large commercial users of fluorescent lighting including
office buildings, wholesale and retail buildings, hospitals, schools,
and government buildings. In 2002, Underwriters Laboratory (UL)
approved Axis products for sale in both the United States and Canada.
The Axis Dimming/Daylight Harvesting (DDH) ballast is priced
competitively and is the only daylight harvesting ballast system that
can be marketed as a replacement for a standard ballast.
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EnDevCo, Inc. (OTCBB: ENDE)
EnDevCo, Inc. closed at $0.085 Wednesday, trading 2,669,511 shares.
Company News- March 6, 2008: EnDevCo Partners in Peru Exploration
EnDevCo, Inc. (OTCBB: ENDE), the Energy Development Company, announced
earlier today its participation in the exploration of Block XXIV in
northern Peru. The Company is participating in the Block at a 20%
working interest with the current operator, Upland Oil & Gas, LLC. The
Block was the subject of a competitive bid conducted by Perupetro, S.A.
in 2006 and final contract terms have been under negotiation since that
time. Perupetro and Upland signed the official contract on July 23,
2007 in Lima, Peru.
Block XXIV is located on the coastal plain in northern Peru and
encompasses a total of 276,137 acres of which approximately 80,000
acres are located offshore and 196,000 acres are located onshore. The
Block is situated in portions of both the Talara and Sechura basins in
Northern Peru.
Significant oil and gas development is ongoing by other operators
drilling adjacent to Block XXIV. Olympic Peru, Inc. in Block XIII,
approximately 15 kilometers north of the license boundary, has recently
reported oil and gas discoveries from Cretaceous sands at depths less
than 5,000 feet deep. Ten kilometers south of the license area, Olympic
is currently re-entering and completing existing wells in the Late
Eocene Verdun formation and has established natural gas production of
an estimated 5 million cubic feet per day from sands less than 2,000
feet deep. In Block Z2B approximately 20 kilometers southwest of the
license area, Petrotech International Corp. has announced an offshore
discovery from the San Pedro #1X well reportedly producing up to 4,000
barrels of oil per day from the highly fractured Paleozoic Amotape
formation.
Initial mapping of existing offshore seismic in Block XXIV has revealed
at least four prospects similar to the San Pedro discovery located in
water less than 200 feet deep. Preliminary internal estimates of
reserves on these offshore prospects range from a high case of 169
million barrels of recoverable oil to a low (risked) case of 26 million
barrels. The onshore portions of the Block are unexplored with seismic
data, but airborne gravity reveals a significant undrilled basin in the
interior of the Block. The initial work program will acquire
approximately 100 kilometers of 2D seismic across identified anomalies
to better determine the prospective structures in the onshore portions
of the Block.
"Peru represents one of the most favorable business climates in South
America for oil and gas development," said Richard G. Boyce, EnDevCo
COO. The base royalty on initial production is 8% up to a level of
5,000 barrels per day and is a maximum of 15% on all oil and gas
production there after. The exploration contract allows for an initial
7 year exploration period and a 30 year production period. Natural gas
production infrastructure is available near Block XXIV for the
development of shallow gas prospects for sale to the local market.
Mr. Pablo Breard, Vice President of International Research for
Scotiabank, recently said, "Peru's energy sector is an even better
investment option than its well known mining industry. The country's
structural changes on energy development will improve even further as
more investments flow in." The Scotiabank executive compared Peru's
energy sector with Panama's real estate market and the Bahamas' tourism
industry, both extremely attractive to investors.
"This is the type of project for which we envisioned that Joseph
Lessard, the Company's new CFO, would play a major role. He has a
wealth of experience in the South American energy market where he has
been actively involved for the last decade, including the successful
negotiation of several major energy transactions in Peru. He will play
a key role in the development of Block XXIV and complementary projects
as EnDevCo moves forward with this important asset for the Company and
its shareholders," said Chris A. Dittmar, the Company's CEO.
About EnDevCo, Inc.
EnDevCo, Inc. is a dynamic and growing energy company establishing an
identity consistent with its operating philosophy of "Science Before
The Drill Bit." EnDevCo maintains offices in Houston and Dallas, Texas.
For more information on EnDevCo, visit www.endevcoinc.com.
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PureSpectrum, Inc. (PINKSHEETS: PSPM)
PureSpectrum, Inc. closed at $0.025 Wednesday, trading 563,500 shares.
Company News- March 6, 2008: PureSpectrum President and CEO Featured in
Electrical Contracting Products
PureSpectrum, Inc. (PINKSHEETS: PSPM) announced earlier today that Lee
Vanatta, president and CEO of PureSpectrum, Inc. is included in a
feature story on dimmable Compact Fluorescent Light bulbs in the
February issue of Electrical Contracting Products.
The story focuses on the gains in energy efficiency that can be
provided by dimmable ballasts for CFL and can be read on PureSpectrum's
website at www.purespectrumlighting.com. In January, independent
photometric testing supported PureSpectrum's introduction of a fully
dimmable CFL bulb and a design for a universal dimming control device
that will concurrently operate both CFL bulbs and incandescent bulbs.
Electrical Contracting Products is the product information authority
for decision makers at the nation's leading electrical contracting
firms. The magazine is distributed to more than 30,000 subscribers
monthly and focuses on issues in electrical engineering, electronics
and the electrical industry.
Vanatta has led PureSpectrum's development of CFL technology which
addresses the consumer concerns about CFL bulbs which may have slowed
full acceptance in the marketplace. Vanatta and PureSpectrum are
currently negotiating with lighting manufacturers to license the
technology with the aim of improving the commercial appeal for CFL
bulbs by improving performance.
In the story in Electrical Contracting Products written by John Dyslin,
Vanatta is quoted alongside Philips Lighting senior product manager
Stuart Berjansky. Vanatta comments on the inevitable transition from
incandescent to CFL bulbs for residential lighting and the critical
need for new perspectives which will produce technology that will allow
CFL bulbs and other energy efficient lighting applications to meet
consumer performance standards.
PureSpectrum owns a family of patents and patent applications for
improved electronic ballast technology and circuitry designs for
ballast driven lighting applications. In the past three months, the
company has entered into initial discussions with contract
manufacturers concerning the production and launch of both linear
fluorescent and CFL bulbs with PureSpectrum's ballast technology
imbedded.
Pease visit www.purespectrumlighting.com or call (912) 961-4980 for
more information about PureSpectrum, Inc. or PureSpectrum Technology.
For investment information, please contact Equiti-Trend Advisors LLC at
(800) 953-3350.
ABOUT PURESPECTRUM
PureSpectrum (PINKSHEETS: PSPM) is a publicly traded technology company
founded and headquartered in Savannah, Ga. The company's values are
grounded in an awareness of the increasing urgency to identify energy
efficient lighting technologies which also meet consumer standards.
PureSpectrum currently holds the rights to multiple patents, patent
applications and patents pending related to electronic ballast
technologies designed to make energy efficient lighting products more
popular among consumers through improved performance. PureSpectrum is
committed to researching, developing and refining ideas that will
provide the most energy efficient, cost effective and consumer friendly
methods to deliver artificial light. For more information on
PureSpectrum, please call (912) 961-4980 or visit
www.purespectrumlighting.com.
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