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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: [email protected] 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 [email protected])). Copyright ? 2008 M2 Communications Ltd. |
