VizConnect Announces Expansion of Products and Services

NEW YORK, NY, United States, via eTeligis Inc., 05/30/2014 – – VizConnect, Inc. (OTCQB: VIZC) (http://www.vizconnect.com), a publicly traded mobile marketing firm, has announced an expansion of products and services to complement its current suite of mobile marketing offerings.

 

Founded in 2011, the Massachusetts-based firm brings mobile marketing opportunities to entrepreneurs by removing the two largest barriers: cost and technological expertise. Using VizConnect’s proprietary software and innovative marketing solutions, business operators are able develop, distribute, and analyze mobile video marketing campaigns through a cloud-based platform. While VizConnect delivers access and training for these self-directed campaigns, the company also offers full-service enterprise solutions for business.

 

VizConnect has expanded its offerings to create keyword-based marketing campaigns for select clients. Through its unique Text-to-Video platform, VizConnect will be able to facilitate database development and direct, push-marketing opportunities for clients to promote new products and services.

 

“It’s always been our intention to develop new and consistent revenue streams for VizConnect,” said CEO Paul Cooleen. “We are doing this by adding value, building brand awareness, and impacting ROI for our clients.”

 

VizConnect has experienced growth in the mobile marketing space by developing mobile campaigns for national brands such as Mossberg and AAA. The media/marketing arm of VizConnect’s services is a natural extension of the company’s current business model.

 

“At its core, VizConnect is a multi-platform marketing company,” Cooleen said. “Creating keyword-based marketing programs, developing marketing databases, and better utilizing our unique video marketing platforms are certainly a natural and synergistic extension of that core.”

 

As part of its expansion, the company will soon be announcing the launch of a new web portal and mobile app.

 

For more information on VizConnect and its suite of mobile marketing services, contact Paul Cooleen via email at pcooleen. Media inquiries can be directed to Don Moorhouse, Eleventh Avenue Public Relations at 508-410-5208.

 

To experience VizConnect’s Text-to-Video marketing tool, text VIZC to 28748.

 

About VizConnect

 

VizConnect (OTCQB: VIZC) is a mobile marketing services firm that provides businesses with the tools and services to create branded Text-to-Video and dynamic QR code marketing solutions. Founded in 2011, the Massachusetts-based firm brings mobile marketing opportunities to entrepreneurs by removing the two largest barriers; cost and technological expertise.

 

Using VizConnect’s proprietary software and innovative marketing solutions, small business operators are able develop, distribute, and analyze mobile video marketing campaigns through a cloud-based platform. While VizConnect delivers access and training for these self-directed campaigns, the company also offers full-service enterprise solutions for business.

 

VizConnect is a publicly-traded company that trades through OTC Market Groups, Inc. under the trading symbol VIZC. More information is available through www.vizconnect.com

 

Forward Looking Statement

 

This press release contains forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company’s control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

 

For more information on VizConnect and its suite of mobile marketing services, contact:
Paul Cooleen
pcooleen

Media inquiries
Don Moorhouse
Eleventh Avenue Public Relations 
508-410-5208

 

SOURCE: VizConnect, Inc.

Affinity Gold Corp. Provides Update on Cambalache Project in Huancavelica, Peru

MAPLE GROVE, MN, United States, via eTeligis Inc., 05/30/2014 – – Affinity Gold Corp. (OTC Pink: AFYG) (PINKSHEETS: AFYG) (“Affinity” or “the Company”) is pleased to provide an update on its Cambalache project, a silver (Ag) and lead (Pb) producing, low sulphidation polymetalic lode deposit, located in District of Lircay, Province of Angaraes, Department of Huancavelica to the southeast of Lima, Peru. The project is located at an elevation of 3,466 – 4,790 m.a.s.l. approximately 519 Km from Lima, capital of Peru, via the South-PanAmerican Highway. 

 

UPDATES & HIGHLIGHTS:

 

–          Since mid February, mine production increased to 13.8 tpd ore and 17 tpd waste while simultaneously focusing on mine development. A goal of reaching a production rate of 30 tpd was estimated to take 6-8 weeks of development while continuing to ore ship. Mine development during this period advanced on Level 555: 25m of galleries, 15m of raises and winzes, and 45m of sublevels for production. On Level 525, 40m of gallery was advanced. Total was 125m of mine development.

–          In mid March, the first Ag-Pb concentrate sale took place from the February production. A total ore tonnage of 333 tonnes was processed at a third party mill generating 22.6 tonnes of concentrate resulting in a 14.7:1 concentration ratio with grades of 40.2% Pb, 113.7 oz Ag, 12.1% Zn and 6.8% Cu per tonne. The low Pb and Ag values along with the high Zn and Cu grades were attributed to poor plant supervision, principally in reactives added to the ore during processing, later acknowledge by the third-party toll plant manager. During proper supervision on second lot of ore treated at Minpar plant concentrates were generally assaying at 48-55% Pb and 120-165 oz Ag per tonne

–          Back calculating from plant concentrate grades, show estimated face grades of 5% lead (Pb) and 13.74 oz. silver (Ag) per tonne before an estimated 50% dilution during mining.

–          Previous grade estimates of the veins/lodes were 10% lead (Pb) and 15 oz. silver (Ag) per tonne (Jalsovec, 2013). Since production commenced in February 2014 the average head grades have hovered around 8% lead (Pb) and 12 oz silver (Ag). It is estimated that the veins/lodes carry 10% lead (Pb) and 15 oz silver (Ag) on average (Jalsovec 2013). Affinity Gold believes it can consistently realize these grades with a disciplined mine plan.

–          Currently, the primary factors influencing economics of the operations via ore shipping are the shipping, toll plant processing fees and inadequate quality of concentrate resulting from lack of technical supervision and process control on behalf of the toll plant. Ore shipping costs are running at $54/T and toll plant processing costs running an estimated $53/T.

–          The processing results obtained to date support the direction of building a gravimetric concentration plan on site which will virtually eliminate shipping costs and drastically reduce processing costs to one-third of current costs. Furthermore, and more importantly, this will ensure control over the ore processing and drastically reduce costly mistakes due to poor technical supervision and lack of process control by a third-party toll plant. 

–          51 additional face and ore samples currently at ALS Laboratories in Lima, Peru pending results

–          50 kg metallurgical sample collected from the active SN 147 and SN 160 fronts in the 555 level and are being processed for gravimetric concentration testing of the ores at the Universidad Nacional de Ingenieria in Lima, Peru

–          We are planning to have a Qualified Person (“QP”) on site within the next 60 days to begin the process for delivering an N.I. 43-101 Technical Report on property.

 

Taking into consideration the issues that can arise from third-party processing as well as the high shipping costs to a third-party plant, the joint venture parties have collectively determined the best course of action is to shift focus towards expediting the building of a 100 tpd gravimetric concentration plant on site. This will drastically change the dynamics of the Project, eliminate roughly 50% of the Project’s costs, and substantially improve the economics at Cambalache.

 

“Although results from the first phase of production weren’t as expected, we were able to acquire valuable data over the last few months that has helped us to locate adverse cost centers and allowed us to make the necessary changes to reduce those costs. The data has allowed us to further conclude that the Cambalache project can be extremely profitable with the 100 tpd gravimetric concentration plant on site. This will eliminate the high shipping costs, allow us to manage the processing and ore grade control, and add a zinc circuit to capitalize on the higher than expected zinc grades. With the plant on site the Company’s breakeven point is estimated at 16 tons per day, which is very achievable in the near term,” stated Mr. Sandberg, President & CEO. Mr. Sandberg went on to state, “Fortunately, we’ve been working towards this end already so we don’t perceive it as a major setback to accomplishing our overall goal with Cambalache in 2014.”

 

About Project Cambalache:
The project is a silver (Ag) and lead (Pb) producing, low sulphidation polymetalic lode deposit, located in District of Lircay, Province of Angaraes, Department of Huancavelica to the southeast of Lima, Peru. The project is located at an elevation of 3,466 – 4,790 m.a.s.l. approximately 519 Km from Lima, capital of Peru, via the South-PanAmerican Highway. 

 

–          Current production rate of 12 TPD produces approximately 1 ton of concentrate with a head grade of 8%.

–          Project was previously producing until being shut down in early 1990’s and only recently re-opened in late 2011. Located in a great silver mining area and just 12 km from Buenaventura’s famous Julcani Mine

–          Reported Grades from Assays – (Report: February, 2013) 

–          11% Pb/T, 15 oz./T Ag (466 g/T Ag)

–          Varying levels of Zn and Cu as potential products

–          Reported high grade Ag ore shoot was developed at depth. It has been reported that on portal at 3,455 m.a.s.l., a high grade ore shoot, of direct shipping ore, was encountered. Some of the waste dumps found at the caved 3,455 m.a.s.l. portal have shown to be mineralized and are being economically exploited today.

–          The 3,515 m.a.s.l crosscut has intercepted two of the three known veins that comprise the Veta Dos vein structure. Fresh cuts across the veins, showing they are there.

–          Three identified low sulfidation veins with demonstrated 0.5 m – 10 m widths, 500 m lengths, and 250 m heights

–          Project is easily accessible via Pan-American and Libertadores highways

–          Project has mining, environmental, social, and plant permits

 

About Affinity Gold Corp.:
Affinity Gold Corp. is a mineral exploration and development company engaged in the acquisition and development of near-term precious mineral production properties within Peru. Affinity Gold Corp.’s primary focus is on developing assets that have demonstrated historical production, contain documented and reliable data and can reasonably begin producing within 12-18 months at a cost of less than $900 per gold equivalent ounce.

 

www.affinitygold.com

 

For further information please refer to the Company’s filings with the SEC on EDGAR available at www.sec.gov

 

FORWARD-LOOKING STATEMENTS
This news release may include “forward-looking statements” regarding Affinity Gold Corp., and its subsidiaries, business and project plans. Such forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where Affinity Gold Corp. expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Affinity Gold Corp. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

 

CONTACT:

AFFINITY GOLD CORP.
Corey J. Sandberg
763-424-4754
csandberg

 

 

SOURCE: Affinity Gold Corp.

 

Revolutionary Concepts Announces First Quarter 2014 Financial and Operating Results and Reports a Net Income of $774,106

CHARLOTTE, NC, United States, via eTeligis Inc., 05/30/2014 – – Revolutionary Concepts Inc., (OTCQB: REVO), a publicly traded company that develops mobile video software and remote security communication systems, announced that it has filed its Quarterly Report on Form 10-Q for its first quarter ended March 31, 2014 with the Securities and Exchange Commission. The Report contains the Company’s financial statements, management’s discussion and analysis (MD&A), its plans and future outlook and other disclosures. The Results of Operations was excerpted from the Form 10-Q Report.

 

First Quarter Financial Results

 

Results of Operations

 

Results of Operations for the Three Months Ended March 31, 2014, compared to the Three Months Ended March 31, 2013.

 

Revenues 
The Company has generated limited revenue since its inception, due to it being a development stage company, and in its efforts in developing its patented technologies for sale or licensing. With the recent signing of a global licensing Agreement to commercialize REVO’s patented wireless security alarm services system, we received an up-front fee of $900,000 in consideration.

 

Operating Costs and Expenses
Our total operating expenses for the three-month period ended March 31, 2014 increased to $172,835 from $149,858 over the prior year period. This increase is primarily attributable to increases in marketing expenses and professional fees.

 

Our net income for the three-month period ended March 31, 2014 was a total of $774,106, compared to a net loss of ($237,757) for the same period ended March 31, 2013. This represents a total increase of $1,011,863, or 325.99% for the period ended March 31, 2014, as compared to the same period ended March 31, 2013. This gain is primarily attributable to decreases in loss on derivatives, interest expenses and the consideration received by the Company as part of the global licensing agreement the Company entered into, and was also offset by increases in operating expenses.

 

Assets
Our Assets decreased by $6,873 to $141,210 for the period ended March 31, 2014, from $148,083 for the period ended December 31, 2013, and by $153,686 as of March 31, 2013. This decrease is primarily due to a decrease in security deposit patent costs and prepaid expenses offset by an increase in depreciation and amortization.

 

Liabilities
Our total liabilities decreased by $382,482 to $4,329,517 for the period ended of March 31 2014 from $4,711,999 as of December 31, 2013. The decrease is attributable to the decrease in current liabilities primarily related to our notes that were canceled as part of the license agreement with the licensee, offset by an increase in other accrued expenses.

 

Stockholder’s Equity (Deficit) 
Our Stockholders’ deficit decreased by $375,589 to ($4,188,327) for the period ended March 31, 2014, down from ($4,563,916) as of December 31, 2013. The first quarter decrease was due primarily to the net gain of $774,106 offset by an increase in dividends accumulated.

 

Cash Flows
Overall, we had no significant change in cash expenditures for the three month period ended March 31, 2014, compared to the same prior year period.

 

Cash Flows from Operating Activities

 

Our net cash used in operating activities of ($45,736) for the three-month period ended March 31, 2014 is attributable to a net operating gain of $774,106, an increase in accrued expenses and other liabilities of $523,894, accounts payable and accrued expense of $64,334, offset by increases in accumulated dividend adjustment of ($450,000), reduction of Notes and interest payable of ($992,124) included as consideration for the global exclusive license agreement

 

Cash Flows from Investing Activities

 

Our cash used in investing activities for the three-month period ended March 31, 2014 was ($607).

 

Cash Flows from Financing Activities

 

The net cash provided by financing activities of $46,342 for the three-month period ended March 31, 2014 is attributable to the increase in unpaid capital contributions of $805, and a decrease in Notes Payable and debt of $47,147.

 

REVO’s Senior Vice President Solomon Ali says, “We are very excited about the continuous improvement in the financial performance of the Company for this quarter. With the signing of our global licensing Agreement to commercialize REVO’s patented wireless security alarm services system, we received an up-front fee of $900,000 in consideration. This generated a net income of $774,106 for this period, the first in the Company’s operating history. This is very significant for us, as it demonstrates our future growth prospects to generate additional profits. Our plans are to continue to increase our revenues, reduce our debt, improve our overall financial performance and create more value for our shareholders.”

 

The full Form 10-Q Quarterly Report is available for viewing on the SEC’s website and it is also available at our website at www.revolutionaryconceptsinc.com. Investor Relations, SEC Filings section.

 

About Revolutionary Concepts Inc. 
REVO is primary business is the design and development of the “EyeTalk” Communicator technology, a mobile video, remote smart camera security technology. The system is designed to provide nationwide protection and monitoring of homes and businesses against multiple threats including robbery, fire, theft, burglary and other intrusions through mobile phones, wireless video and remote smart camera security technology. REVO holds patented and patent pending applications that utilize the technology in medical/healthcare, sporting events, child monitoring and several other key areas. For more information visit www.revolutionaryconceptsinc.com.

 

Safe Harbor Statement – There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Revolutionary Concepts Inc.’s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.

 

For inquiries contact: 
Media Relations: 
Solomon Ali 
704-837-5705

 

SOURCE: Revolutionary Concepts, Inc.

UPDATE: Mindpix Corporation Announces the Addition of Two Additional Concert Tours for the New Gospel Entertainment Joint Venture

MIAMI BEACH, FL, United States, via eTeligis Inc., 05/30/2014 – – Mindpix Corporation (PINKSHEETS: MPIX) (OTC Pink: MPIX) (“Mindpix” or the “Company”), is pleased to announce that New Gospel Entertainment (“NGE”) an MPIX majority owned venture with Out East Entertainment will be adding 2 more national multi-media Gospel tours to its current portfolio. In addition to the previously announced Bridge to Believe tour, NGE is developing a late Fall 2014 Tour with Yolanda Adams and a Spring 2015 Tour with Vashawn Mitchell and Tasha Cobb.

 

NGE was created to leverage the growing influence of the gospel faith-based market, which is projected to have a spending power of $1.7 trillion by 2017. The goal of the joint venture is to create an ongoing series of live concert events and original content programs for multi-media broadcast and distribution. The tours and all properties under the NGE umbrella will generate revenue through traditional ticket sales, merchandising, sponsorships and advertising as well as through new media streaming/VOD events and social media driven ancillary revenue opportunities. NGE events and content will appeal to a core multigenerational audience that values strong family connections and is extremely loyal to brands that are active in their community.

 

The first concert tour announced by New Gospel Entertainment for the September and October of 2014 is “Bridge to Believe”, is a 22-city US tour with Multi-Grammy Award winning artist Bishop Hezekiah Walker, Tye Tribbet and Stellar Award winning artist Vashawn Mitchel. The tour concerts will be held in some of the nation’s largest (5000 seat) mega-churches in the following cities:

 

The three tours are projected to generate NGE in excess of $10 million in gross aggregate revenue starting in Q3 2014 through Q2 2015. In addition to producing the tour, NGE will create original broadcast media content for multi-media distribution. This will be a combination of long format concerts as well as individual songs and special behind the scenes looks and personal interviews with key opinion leaders and artists. These media assets will be utilized to generate additional digital advertising revenue as well as streaming and video on demand (VOD) purchases for both concerts and short form content.

 

Steven Marrs, OEE President & Co-Managing Partner of NGE states. “We’ve always envisioned NGE as home to multiple events and media properties, traditional and digital, addressing this large untapped market. The model of combining live events with the creation of original content is a win-win strategy for our artists and sponsor partners. . This opportunity to create and distribute new compelling original content experiences is greatly expanded by the new digital strategy that MPIX is employing. We truly look forward to growing these franchise banded properties well into the future.”

 

“Steven and I could not be more pleased with the progress of NGE and the recent very positive developments. Out East Entertainment’s extraordinary relationships within the faith-based marketplace have allowed the development of these first three tours as well as a host on original content opportunities to monetize with sponsors and direct offerings to an expanded global audience through paid streaming and VOD distribution,” said Victor Siegel, CEO of Mindpix and Co-Managing Partner of NGE. “As we roll-out each tour, the social media relationships we are developing will be major assets to market new offerings and reach this audience directly in the future. Each year and with each and every event produced this social community and database grows with MPIX capturing social media information and analytical metrics. This joint venture is an exceptional example how MPIX will combine both of its divisions, MPIX Media Services™ and Mindpix Presents™ to create long term capital assets and recurring revenue streams for the future. As always MPIX is completely focused on generating top line revenue and long term shareholder value.”

 

About Mindpix Corporation 
Mindpix Corporation (PINKSHEETS: MPIX) (OTC Pink: MPIX) is a technology driven multi-platform media company focused on owning, creating and/or managing multi-media entertainment and sports and US Hispanic media properties across the globe. Through a unique eco-system, MPIX provides the critical on-line video technology, production, digital marketing, audience development, payment services, sponsor acquisition, digital and traditional media distribution services to drive revenue for live and VOD (video on demand) events globally.

MPIX disclosure and financial information is published on OTC Markets and can be found at the following site:http://www.otcmarkets.com/stock/MPIX/filings/

 

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and as such, may involve risks and uncertainties. These forward looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company’s actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.

 

For company Contact: 
Reina Ziegler 
info 

Investor Relations:
Howard Gostfrand
info 
305.918.7000

 

SOURCE: Mindpix Corp.

 

Cerora, Inc. Introduces Qumpass(TM) Neuropsychological Testing Software at Meeting of American College of Sports Medicine (ACSM)

ORLANDO, FL, United States, via eTeligis Inc., 05/30/2014 – – Noting that school athletes who’ve sustained a concussion are at magnified risk if they return to the playing field too soon, Cerora, Inc. today continued its introduction of Qumpass™ brain evaluation software to help empower clinicians to objectively assess that risk. Qumpass has been specifically designed to enable clinicians to address the equally important, if not more important, ‘Return-to-Learn’ question — because returning to class without a significant period of cognitive rest can put a patient at substantial risk.

 

Cerora’s Qumpass software is the first in a series of new Cerora products aimed at finally providing coaches and sports medicine practitioners with objective criteria for their decisions on whether players are ready to resume sports, studies, or other brain-intensive challenges.

 

“Cognitive rest is an often neglected component of concussion management, yet is as vital to an athlete’s recovery as physical rest” stated Jack Foley, Assistant Athletic Director and Director of Sports Medicine at Lehigh University. “Lehigh’s therapeutic goal is to limit cognitive (concentration, learning, memory) activity to a level that is tolerable and does not exacerbate the re-emergence of symptoms. Our mantra is “Cognitive management = Academic management!” 

 

“We’ve designed our new Qumpass software precisely to address the need for cognitive data that would inform the concussion-related decisions that sports clinicians like Jack Foley deal with daily”, commented Cerora CEO, Adam Simon, PhD. “In addition to Qumpass, we are working closely with Jack and Lehigh Sports Medicine to evaluate the addition of our new MindReader™ wearable EEG/biosensor device to his trainer’s kit of available tools.”

 

Sports medicine clinicians are invited to learn more about Qumpass and Cerora’s developing product pipeline by visiting exhibit booth number 347 at the ACSM meeting.

 

About Lehigh University & Lehigh Sports Medicine

Lehigh University is a highly ranked, world-class research institution located in Bethlehem, Pennsylvania which provides an interdisciplinary educational experience for some of the best and brightest scholars. Under the direction of Jack Foley, Lehigh Sports Medicine has 7 Athletic Trainers with over 50 years combined experience who work independently and interdependently to provide prevention, care, and rehabilitation for the over 600 student-athletes participating in 25 Division-1 intercollegiate athletic teams within the Patriot League. 

 

Over the past fifteen years, Lehigh Sports Medicine has continued to be a leader in the areas of skin infection prevention and management, concussion prevention and management, injury prevention programming, environmental policies, recruit medical screening, and student-athlete education. As a result of their excellent reputation and cutting edge approach, Jack Foley and his staff have been afforded the opportunity to participate in several ground breaking clinical research studies.

 

About Cerora, Inc.

Cerora is leading the way in the development and testing of software and hardware technologies required to provide critically important, objective, portable biomarker-based brain-function diagnostic information. Located in the high-tech nexus at Ben Franklin Technology Partners of Northeastern Pennsylvania’s TechVentures on Lehigh University’s Mountaintop Campus in Bethlehem, Pennsylvania, the company has assembled a team of experienced medical scientists and management professionals under the leadership of CEO Adam J. Simon, PhD, a noted physicist and globally-recognized brain biomarker expert.

 

For additional information please visit www.cerora.com

 

Media Contact:
Josh Weinstein
610-577-5388
jwemc2

Investor Relations Contact:
Russell Miller
310-386-2058
rmiller

 

 

SOURCE: Cerora, Inc.

 

Universal Bioenergy Announces Fiscal Third Quarter 2014 Financial and Operating Results – Sales Increase 107.35% to $58.29 Million

IRVINE, CA, United States, via eTeligis Inc., 05/30/2014 – – Universal Bioenergy Inc., (OTC Pink: UBRG) (PINKSHEETS: UBRG), a publicly traded independent diversified energy company, announced today that it has filed its Quarterly Report on Form 10-Q for its fiscal third quarter ended March 31, 2014 with the Securities and Exchange Commission. The Report contains the Company’s financial statements, management’s discussion and analysis (MD&A), its plans and future outlook and other disclosures. The Results of Operations was excerpted from the Form 10-Q Report.

 

The Company projects that it will continue to experience significant growth in revenues in the next 12 months through higher sales of natural gas, propane, petroleum products, coal and electric power. 

 

Results of Operations
Our revenues for the three months period ended March 31, 2014, increased significantly compared to the three months period ended March 31, 2013.

 

Our sales for the three months ended March 31, 2014 were $25,713,759, as compared to $12,400,975 for the same period ended March 31, 2013. This resulted in an increase of $13,312,784 in sales, or 107.35% for the three month period ended March 31, 2014, over the same period last year.

 

Our sales for the nine months ended March 31, 2014 were $58,291,498, as compared to $41,286,495 for the same period ended March 31, 2013. This resulted in an increase of $17,005,003 in revenues, or 41.19% for the nine month period ended March 31, 2014 over the same period last year.

 

Our Cost of Sales for the three and nine months ended March 31, 2014 were $25,689,003 and $58,234,315 respectively, as compared to $12,382,943 and $41,224,465 for the same periods in 2013.

 

We incurred losses of $621,013 for the nine months ended March 31, 2014, and $1,618,898 for the same period in 2013. This resulted in a reduction of $997,885 in our losses, or 61.64% for the nine month period ended March 31, 2014, over the same period last year. Our accumulated deficit since our inception through March 31, 2014 amounts to $22,698,833. We did not issue any common shares for services for this period.

 

We incurred interest expenses of $409,775 for the nine month period ended March 31, 2014. Excluding the value of the interest expenses of $409,775, this would correspondingly reduce our net loss of $621,013 down to an adjusted net loss of $211,238 for the nine month period ending March 31, 2014. Based on an adjusted net loss of $211,238, this loss equals only 0.0036% of our total revenues of $58,291,498 for the nine month period ended March 31, 2014, as compared to 3.16% for the same period ended 2013.*

 

Operating Costs and Expenses
Our Cost of Sales for the three months ended March 31, 2014 were $25,689,003 as compared to $12,382,523 for the same period in 2013, and our Cost of Sales for the nine months ended March 31, 2014 were $58,234,315 as compared to $41,224,465 for the same period in 2013. This was an increase of $17,009,850 or 41.20% in our Cost of Sales. Our primary operation is the marketing of natural gas, propane and coal to our customers. Our total operating expenses for the three months ended March 31, 2014 were $188,286, as compared to $292,293 for the same period in 2013, and for the nine months ended March 31, 2014 they were $549,873 as compared to $1,061,553 for the same period in 2013. 

 

We reduced our total operating expenses from $1,061,553 for the nine month period ending March 31, 2013, by a total of $511,680, or by 48.20%, to $549,873 for the period ending March 31, 2014.

 

Based on our plans for growth and expansion, and increasing revenues through sales of natural and other products, we believe we will soon reduce our net losses down to zero; and then move our company toward solid profitability. Since we are a high growth company, growing by mergers and acquisitions, we generally expect to have corresponding increases in costs reflected in our operating expenses.

 

Assets
Our “total assets” have increased by $3,170,177, or 25.63%, to $15,539,706 for the period ending March 31, 2014, compared to $12,369,529 for the year ended June 30, 2013. This was due to an increase in the amount of our Accounts Receivables from the sales of natural gas

 

Working Capital
Our working capital requirements increased, and we incurred significant fluctuations in our working capital for this period. This resulted in a working capital deficit of ($1,752,218) for the period ending March 31, 2014, as compared to a working capital deficit of ($1,021,031) for the period ending March 31, 2013. This increased our working capital deficit by $704,187 or by 68.97%. The working capital deficit was primarily due to the costs of pursuing acquisitions, funding of NDR Energy’s operating expenses, the amount of funds borrowed from our creditors, purchase of natural gas inventories, our capital spending exceeding our cash flows from operations and from the increase in accrued expenses. The negative working capital for the period ending March 31, 2014, is an occasional event experienced by many companies, and has not had a significant negative effect on our operations. This is due to our ability to raise capital, the contracts we have with our utility customers, their strong S&P credit ratings, and their consistent payment of our invoices on schedule.

 

Cash Flows
The prices and margins in the energy industry are normally volatile, and are driven to a great extent by market forces over which we have no control. Taking into consideration other extenuating factors, as these prices and margins fluctuate, this would result in a corresponding change in our revenues and operating cash flows. Our cash flows for the nine months ended March 31, 2014 and 2013 were as follows:

 

Cash Flows from Operating Activities

Our cash, used in operating activities, for the nine months ended March 31, 2014, was $69,125, as compared to cash used in operating activities of $184,353 for the nine months ended March 31, 2013. The decrease was primarily attributable to amortization of beneficial conversion feature, the accruing certain management salaries, and a reduction of prepaid expenses.

 

Cash Flows from Investing Activities

Cash used in investing activities for the nine months ended March 31, 2014 was $10,050 as compared to cash provided by investing activities of $30,000 for the nine months ended March 31, 2013.

 

Cash Flows from Financing Activities

Our cash provided by financing activities for the nine months ended March 31, 2014 was $77,910, as compared to $215,855 for the nine months ended March 31, 2013. The net cash used in financing activities is primarily attributed to our Notes Payables.

 

Liabilities / Indebtedness
Current liabilities increased to $14,459,309 for the nine months ended March 31, 2014, compared to $11,173,471 for the same period in 2013. This 29.40% increase was primarily due to a $3,229,541 increase in accounts payable from the purchasing costs and supplies of natural gas. Our long term liabilities are $381,332 for the period ending March 31, 2014, compared to $976,248 for the nine months ending March 31, 2013. This resulted in a reduction of $594,916 in our long term liabilities or 60.97%, for the nine month period ended March 31, 2014, over the same period last year. In the past twelve months the Company has significantly reduced its borrowings from its creditors to further reduce its short and long-term debt.

 

Universal’s President Vince M. Guest states, “We are very pleased with the financial and operating results for the third quarter of our fiscal year. The 41.19% increase in sales for this period is a major accomplishment for us and continues to demonstrate the success of our business model. We’re very proud of the hard work and efforts of our professional team at Universal and NDR Energy Group for their contributions to improve our financial and operating position this period. Our losses have been reduced, and our long-term debt is down due to our aggressive strategy in reducing our operating expenses and reducing the amount of outside funds we have borrowed from our creditors. Our plans are to continue to increase our revenues, reduce our net losses down to zero and move our company toward solid profitability. This should have a very positive effect on our shareholders.”

 

The full Form 10-Q Quarterly Report is available for viewing on the SEC’s website and it is also available at our website at www.universalbioenergy.com Investor Relations, SEC Filings section. *This disclosure of information as presented is a non-GAAP accounting measure, and is not based on GAAP accounting principles or guidelines.

 

About Universal Bioenergy Inc.
Founded in 2004, Universal Bioenergy Inc., is a publicly traded independent diversified energy company that produces and markets natural gas, petroleum, coal and propane. We market energy resources to the largest public utilities, electric power producers and local gas distribution companies in the U.S., that serve millions of commercial, industrial and residential customers. We are also engaged in the acquisition and development of existing or recently discovered oil and gas fields, leases and surface coal mines. For more information visit www.universalbioenergy.com

 

Safe Harbor Statement – There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Universal Bioenergy Inc.’s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.

 

For inquiries contact:
Media Relations:
Solomon Ali
704-837-5705

 

 

SOURCE: Universal Bioenergy Inc.

 

Quasar Retains Legal Counsel

JACKSONVILLE, FL, United States, via eTeligis Inc., 05/30/2014 – – Quasar Aerospace Industries, Inc. (OTC Pink: QASP) (PINKSHEETS: QASP) (“Quasar” or “the Company”)

 

Quasar Aerospace Industries, Inc.is pleased to announce it has retained an SEC and Corporate law firm as legal counsel to the Corporation. Given our plans for being a service provider in the Legal and Medical Marijuana Industry it was necessary to retain a firm of this stature to assist us with the challenges of that growth. The law firm is well versed in representing publicly traded companies in this industry and shall serve to aid the Corporation in remaining compliant with the SEC and other reporting agencies. 

 

The firm is immediately tasked with drafting the definitive documents for the closing with the premier Colorado hydroponic and scientific grow supply store. The firm is establishing an escrow account for the final closing on our previously announced acquisition. The Corporation is currently on target for closing this acquisition and looks forward to its future growth and expansion in all aspects of its operations. Counsel will be assisting Quasar in navigating some of the problems other public companies have experienced in this sector.

 

The firm will also be tasked with filing the SEC Form 10 for the Corporation in its effort to become a fully reporting company. We currently anticipate completing this process no later than the end of the year. Upon closing of our acquisition we will retain an auditor as part of this process.

 

This will be another major milestone achieved for the Corporation which we believe will enhance our overall valuation and opportunities.

 

Please feel free to contact Quasar by telephone or email atdonnell for information or investment opportunities. Quasar will continue to update our shareholders and the investment community as progress and details are ready to be released.

 

Quasar and its subsidiaries are involved in aviation and aviation related businesses. We are SEVIS/SEVP certified to provide training to foreign students. We are the only certified Cessna Pilot Center (http://www.cessna.com/learn-to-fly.html) in Jacksonville, FL. Through our subsidiaries we are an FAA Part 141 flight school (www.faa.gov), Computer Assisted Testing Service (CATS) (http://www.catstest.com) and a Comira testing facility (http://www.comiratesting.com). We offer flight training and accept VA benefits under the GI bill (http://www.gibill.va.gov/). Atlantic Aviation, Inc. is a recipient of an AOPA Excellence Award for 2012 and recognized as one of the top 50 flight school in the country. (http://flighttraining.aopa.org/awardwinners/2012winners.html). SEVIS (http://studyinthestates.dhs.gov/assets/images/content/Certified_School_List_3-5-14.pdf) (http://www.ice.gov/sevis/

 

Check us out on our web site (www.quasaraero.com) and Facebook at:http://www.facebook.com/pages/Quasar-Aerospace-Industries-Inc/146434125485747 or look to schedule a student pilot experience flight through Groupon (www.groupon.com) or Living Social (www.livingsocial.com).

 

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and Quasar Aerospace Industries, Inc. under take no obligation to update such statements.

 

 

Contact Quasar Aerospace Industries, Inc.
Telephone: (904) 207-6503
Email: donnell
Website: www.quasaraero.com
Facebook: http://www.facebook.com/pages/Quasar-Aerospace-Industries-Inc/146434125485747

 

 

SOURCE: Quasar Aerospace Industries, Inc.