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InvestSource Inc.: Planet Nutrition's Proposed Acquisition Extreme
Fitness Inc. Reports Revenues for February
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:16052008
Stocks in the News: Planet Nutrition Holdings Inc. (PNHL), SunOpta Inc.
(STKL), Forbes Medi-Tech Inc (FMTI) Modigene Inc. (MODG)
May 14, 2008 -- Planet Nutrition Holdings Inc.'s proposed acquisition
Extreme Fitness Inc. has recently reported that for the month of
February it showed $182,763.14 in revenues.
"This last month we had a great month in sales and have been extremely
busy with orders," stated Extreme Fitness officer John Huerta.
Please visit our web sites: Planet Nutrition
http://www.planetnutritiononline.com Extreme Fitness
http://www.extremest.com
ABOUT EXTREME FITNESS, INC.
I M & M Exercise Equipment, wholly owned subsidiary of Extreme Fitness
Inc., founded in 1983, known at that time as Industrial Machine and
Manufacturing, tapped into the emerging exercise equipment market. A
family owned business based out of Penrose, Colorado working out of an
existing 7,500 square foot building with office space, manufacturing
resources, shipping and receiving capabilities and approximately 6
acres of yard space. Father Frank Huerta, with sons Tom and John
Huerta, capitalized on their sophisticated machining and manufacturing
skills to engineer what rapidly became established as the premier
exercise equipment on the market. The trio self-engineered and designed
hundreds of products and implemented manufacturing processes for all
stages of development and production, effectively driving ideas all the
way from the drawing board to the customer's gym. The company became
well known for its superb craftsmanship and exceptional customer
service. Word of mouth referrals became (and persist to this day), the
main mode of advertising. High profile clients continue to demand their
products and services such as the United States Olympic Training
Centers, Colleges and Universities, Professional Sports Teams, Major
Chain Health Clubs as well Celebrities and Professional athletes and
coaches. The trio brings more than 66 years of combined experience and
over 3 decades of successful business in the fitness industry. This
wealth of understanding of industry standards, product engineering, and
market history, trends and pitfalls is of utmost value to their
continued success and ability to innovate new products.
May 15, 2008 -- SunOpta Inc. (NasdaqGS:STKL) (Toronto:SOY.TO) today
provided an update on the status of activities relating to the
write-downs in the SunOpta Fruit Group berry operations, the delay in
the filing of its Annual Report 10-K for the year ended December 31,
2007 and Form 10-Q for the period ended March 31, 2008 and the
potential impact of the ongoing review of previously issued 2007
quarterly financial statements as well as actions being taken to
address the issues identified. As previously detailed, a notice was
received from The Nasdaq Stock Market in April 2008, advising that the
Company was not in compliance with Nasdaq Marketplace Rules as a result
of the delay in the filing of its Annual Report. The Company appealed
this notice and met with the Nasdaq Listing Qualification Panel on May
8, 2008 to discuss the steps the Company was taking to remedy the
delay. At this hearing, the Panel requested that the Company provide a
further update in thirty days. At that time, the Panel will consider
the Company's continued listing of the shares. The Company reported
that it continues to make progress with its 2007 year end analysis and
related investigative procedures, the implementation of a series of
actions within the berry operations designed to address the root causes
of issues identified, and the independent investigation being conducted
by the Company's Audit Committee.
May 15, 2008 -- Forbes Medi-Tech Inc. today announced a plan to focus
exclusively on its revenue-generating nutraceutical business, which
includes functional foods and dietary supplements, and cease all
in-house drug development activities. The restructuring plan involves
staff reductions across various departments within the Company's
current active workforce. It is anticipated that the Company will
reduce its 2008 operating and research and development expenses by
approximately $2.7 million. The Company forecasts an extension of its
working capital into the fourth quarter of 2009 based on a number of
factors.
Key components of the business restructuring plan: - Forbes will focus
on the revenue-generating nutraceutical business area, with a mandate
to grow Reducol(TM) and the phytosterol product portfolio.
- To build the strong nutraceutical business base, the Company will
retain core team members and endeavor to target key merger and/or
acquisition opportunities.
- The Company has decided that all pharmaceutical development
activities will cease based on the early stage of these technologies
and the associated development times leading up to drug approvals.
- The Company plans to close its drug development facility in San
Diego, California.
- Forbes will continue to seek favourable business development
opportunities for its pharmaceutical business unit, including
out-sourcing and licensing agreements.
The Company's financial outlook for 2008 revenues continues to project
sales of $9.75 million to $10.5 million.
May 15 -- Modigene Inc. a biopharmaceutical company applying its
patented technology to develop longer-acting versions of already
approved therapeutic proteins, today announced that President Shai
Novik will present at the upcoming Acumen BioFin Rodman & Renshaw 5th
Annual Global Healthcare Conference at 3:40 AM EDT (9:40 AM Central
European Summer Time) on May 20, 2008. The presentation will be webcast
live and an archived version of the webcast will be available for
approximately 90 days. The live and archived webcast can be accessed at
http://wsw.com/webcast/rrshq13/modg.ob.
Stocks spent Thursday morning trading in subdued fashion as traders
found little to motivate their interests. However, concerted buying
efforts surfaced early in the afternoon after crude prices took a dive.
The stock market closed at its session high, up more than 1%.
Oil traded in volatile fashion Thursday. The drop in oil prices
rekindled buying interest in stocks.
The tech sector (+2.1%) ended the session with the largest gain, led by
large-cap tech players Intel (INTC 24.97, +1.13), Cisco (CSCO 26.50,
+0.75), and Microsoft (MSFT 30.45, +0.52).
In merger and acquisition news, media company CBS Corp. (CBS 24.23,
-0.59) announced it will acquire Internet news company CNET Networks
(CNET 11.41, +3.46) for $1.8 billion, or $11.50 per share.
Dow Jones component and industrial conglomerate General Electric (GE
32.37, -0.14) announced it will be selling its appliance business.
Industrial production for April slipped 0.7%, which was a more
substantial downturn than the 0.3% downturn that was expected.
The Empire State Manufacturing Index for May came in at -3.2, which is
below the flat reading economists expected.
Treasuries attracted some buying interest. The 10-year Treasury Note
climbed 24 ticks this session, reducing its yield to 3.82%. DJ30 +94.28
NASDAQ +37.03 NQ100 +1.7% R2K +1.0% SP400 +1.2% SP500 +14.91 NASDAQ
Dec/Adv/Vol 1106/1757/2.22 bln NYSE Dec/Adv/Vol 911/2192/1.20 bln
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.
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. InvestSource has agreed to be
compensated 5,000,000 of unrestricted stock of PNHL for services
rendered.
CONTACT: InvestSource, Inc
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
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Copyright ? 2008 M2 Communications Ltd.
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