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OTCBB and Pinksheet Penny Stock News - CHGI, HEME, ZERO, LBSR
(M2 PressWIRE Via Acquire Media NewsEdge) Stocksource.us brings you all the Stocks in the News: China Carbon Graphite Group Inc. (OTCBB:CHGI), HealthMed Services Ltd. (OTCBB: HEME), STWA Inc. (OTCBB: ZERO), Liberty Star Uranium & Metals Corp. (OTCBB:LBSR)
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China Carbon Graphite Group Inc. (OTCBB:CHGI)
NEW YORK, Sept. 2, 2010 -- China Carbon Graphite Group, Inc. (OTCBB:CHGI) ("China Carbon" or the " Company"), the largest wholesale supplier of fine grain and high purity graphite in China and one of the nation's top overall producers of carbon and graphite products, today announced the resignation of Chief Financial Officer Ms. Ting Chen and the appointment of Mr. Zhengfang Yang as its new interim Chief Financial Officer effective September 1, 2010.
The company appreciates the contributions that Ms. Ting Chen has made in the past few years. There was no disagreement between Ms. Chen and the Company which led to her resignation. The company is committed to finding a highly qualified candidate to serve as Chief Financial Officer.
In the interim, with the appointment of Mr. Yang we believe we will experience a smooth transition in our financial management due to his experience of having served as Chief Financial Officer of the Company's operating subsidiary, Xingyong Carbon Company Ltd. since 2007. Mr. Yang is also a certified public accountant in China. We are pleased to have him step in on an interim basis until a suitable permanent Chief Financial Officer can be engaged.
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HealthMed Services Ltd. (OTCBB: HEME)
SUNNYVALE, CA -- 09/02/10 -- HealthMed Services Ltd. (OTCBB: HEME), an innovative software development company, is pleased to announce that it has entered final negotiations to acquire all rights, title and interest to Neural Communicator software and hardware.
Neural Communicator has developed brain/computer interface devices and software designed to enable people with extreme disabilities to communicate. The device detects eye movement, jaw contractions and ALPHA and BETA brain waves allowing hands free input.
Neural Communicator is intended for people disabled in such a way that they cannot communicate by speech or by using their body. Biofeedback is used for computer input and controlling the application features.
The software is based on plug-in architecture allowing easy implementation of new features. There are five basic modules:
Speech module - text input for speech replacement; GSM module - send and receive SMS; MSN module; Windows Live Messenger chat Book Reader - reading books by speech synthesis; and Web Browsing - special plug-ins for Bing Maps and Facebook.
The developers of the software and hardware will continue to work with HealthMed on an outsourcing basis in developing further applications for the Neural Communicator.
President/CFO John Popovic commented, "We are extremely keen on completing the acquisition of Neural Communicator. The product will bring easy communication capability to those currently unable to communicate as well as expanding the communication ability of others with disabilities restricting their communication capacity. Acquiring this leading edge technology expands HealthMed's product lineup and will position us strongly in the marketplace."
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STWA Inc. (OTCBB: ZERO)
SANTA BARBARA, CA -- 09/02/10 -- STWA Inc. (OTCBB: ZERO) ("STWA" or the "Company"), an innovative technology company focused on improving the efficiency of large-scale energy transportation networks and reducing fuel consumption and emissions in diesel fleets, announced today that it has scheduled its initial site visit for mid-September with the U.S. Department of Energy (DOE) at the Rocky Mountain Oilfield Testing Center (RMOTC) in Casper, Wyoming.
Management is scheduled to meet with representatives from the DOE's RMOTC and its source manufacturer to review pre-installation of the Company's AOT? technology. The DOE is evaluating AOT? to determine accurately its value to the pipeline industry.
"This meeting at RMOTC is the next step in our implementation strategy," stated Mr. Cecil Bond Kyte, Chairman and CEO of STWA, Inc. "Management will be accompanied by Dr. Tao, chief scientist, our source manufacturer and representatives of the DOE. We will be working to finalize testing protocols and determine variables that will be crucial to accurate testing of the prototype." Mr. Kyte added, "Although our work is mostly non-transparent at this time, due to strict NDA's, we want to emphasize that we are on-track and things are moving as quickly as they can. Our decision to develop a full-scale AOT? prototype prior to ELEKTRA? is based on the number of variables that affect each technology. AOT? is being developed first as its fundamental components are directly applicable using lab data and controls, ELEKTRA's current development utilizes certain aspects of AOT's architecture as an extension of AOT? technology. This work with the DOE at RMOTC represents a tangible turning point for STWA, and as a shareholder myself, one who has never publicly sold a share, I am as confident as I have ever been," concluded Mr. Kyte.
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Liberty Star Uranium & Metals Corp. (OTCBB:LBSR)
TUCSON, Ariz.--(Sep 2)-- Liberty Star Uranium & Metals Corp. (OTCBB:LBSR) announces that on August 26, 2010, Platinum Long Term Growth VI LLC and Alpha Capital Anstalt, two former lenders of the Company (the "Plaintiffs"), filed lawsuit in the United States District Court, Southern District of New York, against the Company and James Briscoe, (President and CEO). The Plaintiffs are seeking to require the Company to honor outstanding warrants held by the Plaintiffs at an exercise price of $0.002 (two tenths of one cent) per share and to issue to the Plaintiffs ten times the number of warrants that the Company has on record, or in the alternative money damages. The claim is based on a provision in the warrant agreements that would permit a "ratchet down" of price and a multiplication of number of warrants in the event of certain share issuances by Liberty Star Uranium & Metals Corp.
The Plaintiffs are claiming that Platinum is entitled to 201,053,015 warrants and that Alpha is entitled to 240,919,010 warrants all exercisable at $0.002 per share. If the Plaintiffs are successful in their lawsuit, a total of 589,177,000 warrants would be outstanding at an exercise price of $0.002 to all warrant holders who are former lenders to our company. These warrants all contain a cashless exercise feature, permitting issuance of shares without payment of any cash to the company. The Plaintiffs are also claiming money damages for non-compliance with what they claim are the terms of the warrants, costs and attorney fees incurred in the action.
Currently, there are 434,784,657 common shares of Liberty Star outstanding. If the warrant holders are successful in their lawsuit, they and other warrant holders could exercise warrants for over 55% of the company's equity at a price of $0.002 per share. However, there are contractual limits on the percentage of the company's outstanding common shares which any warrant holder can hold at the time of exercise (i.e., not more than 9.99% of the company's outstanding shares), so individually none of them could control the company through the exercise of warrants.
We are vigorously defending against the lawsuit and have through our attorney made an appearance in court. Our defense is, in part, that no "ratchet down" provision is in effect. If we are successful on that defense alone that would leave all former lender warrant holders with 58,917,700 warrants exercisable at $0.02 (two cents) per share.
Declares James Briscoe, "This lawsuit makes no sense to me. Until this matter is settled or decided by a court, we won't allow the exercise of any Plaintiffs' warrants. If the Plaintiffs eventually win, the dilutive effect on the company will likely seriously harm our share value, drastically reducing the value of the Plaintiffs' warrants. We intend to use every defense possible to defeat these claims
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