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InvestSource, Inc.: Reverse Split Announced By PowerSafe Technology
Corp
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:29092008
Stocks in the news: PowerSafe Technology Corp. (PWSF.OB), Healthaxis
Inc. (NASDAQ: HAXS), Convergys Corporation (NYSE: CVG),
TeleCommunication Systems, Inc.(TSYS)
September 26, 2008 - PowerSafe Technology Corp. (PWSF.OB) has
implemented the process to reverse split its outstanding shares of
common stock on the basis of one (1) post consolidated share for each
three (3) pre-consolidated shares. The authorization of the board of
directors to effectuate such action was granted by the shareholders of
the company at a special meeting called for such purpose.
The reverse split will become effective as of October 2, 2008 or as
soon as practicable thereafter. As a result of the split, the company
will have 2,358,333 shares of common stock issued and outstanding.
Powersafe is continuing with ensuring that Amplification Technologies
Inc. is meeting the conditions for its pending merger with Powersafe
and expects that the transaction will be consummated in the next
several weeks.
September 26, 2008 - Healthaxis Inc. (NASDAQ: HAXS) announced today its
response to an unsolicited offer by Ebix, Inc. to purchase Healthaxis.
The Healthaxis Board of Directors carefully evaluated the Ebix proposal
with the assistance of its financial and legal advisors. After
evaluating both the terms proposed by Ebix and those set forth in the
Agreement and Plan of Merger to which Healthaxis and BPO Management
Services, Inc. are parties, the Healthaxis Board of Directors concluded
that the terms proposed by Ebix are substantially inferior to the terms
set forth in the pending transaction with BPO Management Services.
Accordingly, the Healthaxis Board of Directors determined that it is
not in the best interests of Healthaxis or its shareholders to pursue
discussions with Ebix on the basis of the terms set forth in its
proposal and has respectfully declined the Ebix offer.
September 26, 2008 - Convergys Corporation (NYSE: CVG), a global leader
in relationship management, announced today that it has won the Gold
Brandon Hall Excellence in Learning Award. This is the fifth
consecutive year Brandon Hall has recognized Convergys as one of the
leaders of innovative workplace learning practices.
Convergys received the Gold award in the Best Learning Team category
for the development of its global curriculum. Convergys' global
curriculum is a single course that is applicable across all of
Convergys' countries of operation. The curriculum serves as a platform
for all current and future training needs for over 60,000 Convergys
contact center agents, thus reducing the time and costs associated with
the traditional practice of rebuilding complete course materials for
new projects.
"We are highly honored to be selected as a recipient of the Brandon
Hall Excellence in Learning Award for the fifth consecutive year," said
Marianne Langlois, Convergys' Vice President, Learning Solutions. "With
our innovative learning solutions, Convergys provides our clients and
employees with measurable practices to drive more value from their
business relationships. These learning solutions not only provide
Convergys clients with measurable results, but allow our clients to
significantly lower costs on their learning investments."
September 26, 2008 -TeleCommunication Systems, Inc. (TCS) (TSYS), a
leading provider of mission-critical wireless communications, today
announced the U.S. Patent and Trademark Office has issued patent number
7,426,380 for "Location Derived Presence Information."
This TCS invention enables presence information to be provided at the
same time that location information is being requested of a wireless
device. Presence information is the status of the wireless user such as
"available" or "unavailable" or "busy." Both location and presence
services are message intensive within a mobile operator's network. The
invention reduces network messaging traffic and provides better network
reliability by reducing the number of messages required within a mobile
operator's network by using a single message to aggregate both presence
and location information.
The addition of presence information that determines the state and
availability of a mobile user enhances social networking applications
such as friend or family locator services or location-based instant
messaging. These social networking applications are increasingly being
deployed on mobile operator decks as they deploy precise location based
services. ABI Research forecasts that location-based mobile social
networking revenues will grow to $3.3 billion globally by 2013.
Market Wrap for September 26, 2008 -
Uncertainty made its way back into the stock market Friday.
Participants spent the latter part of this week awaiting approval of a
federal asset purchase plan designed to help restore financial
conditions.
Infighting is keeping congressional leaders from approving a $700
billion plan to purchase distressed assets from financial firms,
intended to restore firms' balance sheets and capital markets.
JPMorgan's acquisition gives it the second largest branch network
behind Bank of America (BAC 36.70, +2.33). Diversified financial
service firms, effectively JPMorgan Chase, Bank of America, and
Citigroup (C 20.15, +0.74), were some of the session's strongest
players.
Their influence helped the Dow reverse an early 1.4% loss into a 1.1%
advance. Financials were down as much as 3.2% early on. The sector
rallied to close 3.2% higher.
In other corporate news, Research In Motion (RIMM 70.76, -26.77) posted
solid revenue and net income growth for its latest quarter.
With only a few days remaining in the third quarter, economic data
pertaining to the second quarter is of little issue anymore. In turn,
market participants looked past lowered second quarter real GDP data.
The final real GDP reading indicated the economy expanded at an annual
rate of 2.8% from the prior reading of 3.3%. Real final sales of
domestic product increased 4.4%. DJ30 +121.07 NASDAQ -3.23 NQ100 -0.9%
R2K -0.1% SP400 -0.7% SP500 +4.09 NASDAQ Adv/Vol/Dec 1173/1.97 bln/1614
NYSE Adv/Vol/Dec 1042/1.19 bln/2110
ABOUT INVESTSOURCE, INC.: WIN an 8 day 7 nights Caribbean Getaway, GO
TO: www.investsourceinc.com.
Coming in late Summer of this year: Go Baby GO!!! The first book of its
kind on the OTCBB and Pink Sheet Markets
www.gobabygobook.com .
To hear "The Fastest 60 Seconds in the Small-Cap Market," please go to
www.ceo-corner.com
This opinion contains forward-looking statements that involve risks and
uncertainties. This material is for informational purposes only and
should not be construed as an offer or a solicitation to buy or sell
securities. InvestSource, Inc. has prepared all material herein based
upon information believed to be reliable. The information contained
herein is not guaranteed by InvestSource, Inc. to be accurate, and
should not be considered to be all-inclusive. The companies that are
discussed in this release have not given an opinion or approved the
statements made in this release. To view full disclaimers, please go to
http://investsourceinc.com/content/disclaimer.
This release may contain statements that constitute forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E the Securities Exchange Act of 1934,
as amended. The words "may," "would," "will," "expect," "estimate,"
"anticipate," "believe," "intend," and similar expressions and
variations thereof are intended to identify forward-looking statements.
Investors are cautioned that any such forward-looking statements are
not guarantees of future performance and involve risks and
uncertainties, many of which are beyond the Company's ability to
control, and that actual results may differ materially from those
projected in the forward-looking statements as a result of various
factors. The information contained in an InvestSource profile is
provided as an information service only. The accuracy or completeness
of the information is not warranted and is only as reliable as the
sources from which it was obtained. To view full disclaimers, please go
to http://investsourceinc.com/content/disclaimer.
CONTACT: InvestSource, Inc
e-mail: info@investsourceinc.com
WWW: http://www.investsourceinc.com
((M2 Communications Ltd disclaims all liability for information
provided within M2 PressWIRE. Data supplied by named party/parties.
Further information on M2 PressWIRE can be obtained at
http://www.presswire.net on the world wide web. Inquiries to
info@m2.com)).
Copyright ? 2008 M2 Communications Ltd.
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