Beacon Equity Research reports on the OTC and OTCBB Trade Leaders: IT Group Holdings, Inc. (OTCBB: ITGL), AmeriResource Technologies, Inc. (OTCBB: AMRE), NT Media Corp (OTCBB: NTMI), Innovative Designs, Inc. (OTCBB: IVDNQ) and Renewable Energy Resources, Inc. (OTCBB: RENW) for October 25, 2007.
Oct 25, 2007 (M2 PRESSWIRE via COMTEX) -- To sign up for our free research reports and newsletters, visit beaconequityresearch.com. For more information on our research programs, please contact: Jeff Bishop at editor@beaconequityresearch.com
IT Group Holdings, Inc. (OTCBB: ITGL) Up 75.00% on Wednesday
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October 24, 2007 - IT Group Holdings, Inc. Maintains British Telecom Contract and Builds Competitive Advantage
IT Group Holdings, Inc. (OTCBB:ITGL) announced today that its operating entity, Internet Telecommunications Plc ("ITPLC") will maintain its wholesale line rental agreement with British Telecom, which will continue to give the company an important competitive advantage as the company secures new contracts and strengthens existing relationships.
The Board of Directors has appointed an acting CEO and Commercial Director to continue to drive its Reseller business. Commenting on this development, Guy K. Stewart, Jr., a director of Internet Telecommunications Plc, said, "We have been able to secure many of our previous customers even as we have undergone executive level management changes. We are very pleased that we continue to have in place a powerful Telecom Switch with a capacity to handle over 500 million minutes of telecommunications traffic every month. With this Switch in place, we have the network capacity to generate approximately $500 million in revenues without the need for major new capital investments."
With the new business plan in place, the Company will now focus on capturing the first 2-3% of the UK market to deliver a solid base of recurring revenues and profitability. As the telecommunications market is an 'additive' market, the growth in revenues will be quickly attained from new subscribers. Commenting on this, Dr. Fredrik Verkroost, Chairman of IT Group Holdings, Inc. said, "We are in a similar phase to filling hotel rooms in a large new hotel. Our switch is in operation and can now be filled with traffic from Service Providers on longer-term contracts. These Service Providers in turn can bring large numbers of their existing subscribers onto our network, which considerably simplifies our marketing approach. We can continue to offer significant savings to our Resellers. We are very confident in our ability to shore up our existing customer base and bring in new business."
AmeriResource Technologies, Inc. (OTCBB: AMRE) Up 66.67% on Wednesday
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October 24, 2007 - AmeriResource Sells Green Endeavors LTD. for $750,000 of NEXA Preferred Stock
AmeriResource Technologies, Inc. (OTCBB: AMRE), a diversified holding company, announced today that it has closed on the sale of 90% of the issued and outstanding stock of Green Endeavors LTD. (PINKSHEETS: GRNE) in exchange for the issuance of 150,000 shares of restricted Series C Preferred stock of Nexia Holdings, Inc. (OTCBB: NEXA) with a stated value of $5.00 per share. Green Endeavors LTD. will retain 13 million shares of BizAuctions, Inc. (PINKSHEETS: BZCN) restricted common stock and $171,000 in debt.
Mr. Janovec pointed out that, "AMRE will benefit by becoming a shareholder in Nexia and retaining a minority shareholder interest in GRNE. Upon GRNE acquiring Landis LLC, AMRE will reap the benefits of being a shareholder in GRNE's operations that are on track to generate $2.3M in gross revenues in 2007. GRNE has plans to grow its operations significantly. In addition, AMRE will eliminate the costs and time associated with maintaining the public status of GRNE which will free up resources that will be redirected into growing revenues for BizAuctions, Inc. and AMRE's other operations."
The transaction with Nexia has further created the potential for a strategic alliance between BizAuctions, Inc. and Nexia's Black Chandelier clothing company. The alliance would involve BizAuctions selling Black Chandelier's excess inventory through its on-line eBay auction platform. This alliance will provide another revenue stream which expands its present auction platform of products that is available to on-line consumers.
Richard Surber, CEO of Nexia Holdings, Inc., commented, "Mr. Janovec is a visionary. He realizes that Nexia is a ground level investment opportunity. Mr. Janovec has seized upon an opportunity that streamlines AMRE's operations and diversifies AMRE's portfolio. I am confident that AMRE will benefit from the acquisition of Nexia's Class C preferred stock as well as realize the benefit of increased value of its remaining GRNE shareholdings. Nexia's plans for GRNE will benefit AMRE and all GRNE shareholders. Over the coming weeks, Delmar and I will be working hard to build value through additional alliances between BZCN and Black Chandelier which could result in BZCN selling our high quality apparel creating another mutually beneficial transaction." For more information on Nexia, please visit the website at www.nexiaholdings.com.
NT Media Corp (OTCBB: NTMI) Up 42.86% on Wednesday
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October 24, 2007 - NT Media Continues Planning to Build More Social Networks as Part of Its Strategy to Create and Manage Multiple Online Social Forums Tailored to the Specific Tastes of Various Groups
NT Media Corp (www.ntmedia.tv)(OTCBB: NTMI), announced its plans to expand its presence in the social networking arena by creating two more social networks. NT Media's plans include work on creating a music related social network dedicated to exchange of ideas, thoughts, and information among music enthusiasts. The second social networking site in the pipeline is one focusing on today's political issues and the controversy around them. These two are in addition to the recently launched targeted social network, www.singledads.com, and completes the three targeted social networks the company planned to launch by the end of September. The latest two remain in a pre-launch phase and it is anticipated that they will go live shortly.
With the coming of the US presidential elections the Company anticipates the political social network to be a destination for those who want to share their views on presidential candidates as well as various US and international political matters.
The company recently announced its foray into Targeted Social Networks with the launch of www.Singledads.com. It is planning on increasing traffic through creation of more networks, each customized to focus on a specific interest group. The remaining two new networking sites are in a pre-phase launch.
Recently NTMM announced the acquisition of an online video sharing portal as a part of NT Media's strategy of acquiring and launching media properties which generate revenue through on-line advertising.
Innovative Designs, Inc. (OTCBB: IVDNQ) Up 37.50% on Wednesday
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October 24, 2007 - Settlement Reached for Innovative Design
On September 24, 2007, Innovative Designs, Inc. (OTCBB: IVDNQ) ("IDI") filed a Motion to Dismiss Case No. 06-23921-MBM in the US Bankruptcy Court for the Western District of Pennsylvania. Objections were filed on behalf of three parties. On October 22, 2007, IDI further filed Objections to the Claims of the Petitioning Creditors responsible for commencing the Involuntary Petition against IDI.
At a hearing on the Motion held October 23, 2007, counsel for IDI informed the Honorable M. Bruce McCullough that IDI has reached settlement in the aggregate amount of $45,000 with the three Objectors, comprising two administrative claimants and one creditor, and that upon execution of appropriate settlement documents those Objections will be withdrawn.
The court has requested that IDI submit confirmation of the settlements and a proposed Order dismissing the Bankruptcy Case by Friday, October 26, 2007, at which time it is anticipated that Judge McCullough will approve the settlement agreements and execute the Order dismissing the case.
Renewable Energy Resources, Inc. (OTC Bulletin Board: RENW) Up 35.71% on Wednesday
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October 24, 2007 - RENW Receives Update From Cm2 on Production of Low Impact Hydro Units
Renewable Energy Resources, Inc., (OTC Bulletin Board: RENW) (www.RENW.com) announces that its European production and marketing partner, Cm2 of Terni, Italy, has communicated the status of production and facilities for RENW's Energy Commander low impact hydro unit. Cm2 advised that reverse engineering, design out, material selection, and plans and contracting for production facilities for build out of the Energy Commander V low hydro energy unit were now complete. Cm2, through their President and Head of Engineering, Giovanni Lanari, related that the basic 30 kilowatt unit was entering the final phase for production from Cm2 which was expanding its facilities for such production.
"We are currently working on the engineering of the first model which should be ready in the next couple of weeks," stated Mr. Lanari. "At the same time due to a recent acquisition and fund injection, we are planning the production facility for the unit." Cm2 is expanding its renewable energy production facilities in Italy for solar and waste energy product production, along with the Energy Commander unit for use in Italy and for supply to the United States for domestic use. Contracting orders have already been made for the units production needs.
Cm2 related that they have worked on the "performance and durability of the energy unit" which is the 12 cylinder rotary unit that has been enhanced through the addition of more enhanced materials selected through its engineering process. The unit which is built to deliver the base of 30 kilowatts from lower pressures, is being produced by Cm2 in Italy for European use and export to the United States under a joint venture agreement. The planned ten unit delivery by Cm2 is the first phase in the production cycle. Cm2 has identified user placements in Italy for some of the first units.
RENW had built four functioning prototypes, two of which operated under pressure for years, before the build out of the 12 cylinder radial system which was supplied for final production engineering and production through Cm2. The 12 cylinder format is expandable in slices, and under the oversight of Cm2, the unit is being produced for placement in both natural flows and industrial settings in both Europe and domestically. RENW plans for a near term visit to Cm2 for unit production and marketing plans, with reports on the timelines of production to be given in the short term.
Cm2's production facility is located in Terni, Italy, and encompasses a large 19,000 sq. meter area. Cm2 manufactures and produces large industrial electrical components for utilities and industries across Europe.
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