M2 PRESSWIRE-26 August 2010-PennyStockBets.com: The Safest Bet in Town! (OTCBB: ORHI), (OTCBB: DRSV), (OTCBB: PSRU)(C)1994-2010 M2 COMMUNICATIONS
RDATE:26082010
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OmniResponse Signs Exclusive Global Agreement
CLEARWATER, Fla., Aug 25, 2010
OmniReliant Holdings, Inc. (OTCBB:ORHI) announces that OmniResponse, the wholly owned consumer products enterprise of OmniReliant Holdings, Inc., signed an exclusive agreement with the makers of the Ruby Crystal(TM) Natural Nail Care System and Ruby Dazzle(TM). This contract grants OmniResponse the exclusive rights to the brand for global distribution and immediately adds a new revenue stream without requiring any upfront investment.
As it stands today, before any new growth of the brand on a global basis, Ruby Crystal(TM) products generate revenue via live television shopping. This revenue run rate will immediately be assumed by OmniResponse as the new vendor of record at Home Shopping Network, USA, as part of the company's Live Shopping Division headed up by the new EVP of Global Business Development, Bill Barlow.
Moreover, OmniResponse is currently working with the manufacturer to expand the product line to include new items and line extensions, which we believe has the potential to lead to growth and expand the Ruby Crystal(TM) and Ruby Dazzle(TM) brands.
Bill Barlow, Executive Vice President of OmniResponse, said, "Until now, Ruby Crystal(TM) was focused on distribution via just one TV shopping network. Now, OmniResponse will position this unique product line for a strong growth experience within its current channels as well as to expand the full product line into additional world territories leading to even greater revenue opportunities."
Robert J. DeCecco, CEO of OmniReliant Holdings, said, "This is exactly why we hired Bill Barlow - because of his ability to identify new opportunities and bring new brands to market on a global basis. This manufacturer contracted with us because of Bill and his Director of Sales, Mike Spinale's ability to grow sales internationally. As Bill and his team continue to expand our Live Shopping Division, this opportunity becomes just an indicator of what is yet to come for OmniResponse."
Ruby Crystal(TM) is a Natural Nail Care System, which includes the Ruby Crystal Ceramic Stone Nail File, Buffer Pad System, Whitening Pen, Cuticle Oil Pen, Calcium Roll-On, Super Pad, and 30 Nail Sealers, all in a portable pouch. The Ruby Crystal Nail File is the signature product that consists of thousands of synthetic ruby crystals that form a unique surface. Its distinctive design shapes nails naturally by allowing nails to be filed in both directions without creating any damage. Using the full system, skin is safely removed around cuticles and nails are exfoliated, buffed, and smoothed, creating professional manicure/pedicure results in minutes for just a fraction of the price of a salon visit.
About OmniReliant Holdings
OmniReliant Holdings is a holding Company that has company subsidiaries that utilize DRTV, live shopping and internet to build brands. The Company, through its subsidiaries, engages in the creation, design, distribution, and sale of affordable products available to U.S. and international consumers. The Company successfully markets its products through various direct response formats, live shopping networks, ecommerce, direct mail, and traditional retail channels.
The OmniReliant Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7911
The corporate offices of OmniReliant are located at 14375 Meyerlake Circle Clearwater, Florida 33760. OmniReliant questions may be addressed to Robert J. DeCecco, CEO, at 727-230-1031. For further information visit http://www.omnireliant.com.
Forward-Looking Statements
The information contained herein includes forward-looking statements. These statements relate to future events or future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Undue reliance should not be placed on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements.
Any forward-looking statements reflect our current views with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.
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Debt Resolve Reports Balance Sheet Improvements
TARRYTOWN, N.Y., Aug 25, 2010
Debt Resolve, Inc. (OTCBB:DRSV) has announced its results for the quarter ended June 30, 2010. During this period, the Company reported net income of $5.6 million versus a net loss of $1.2 million in the prior year's comparable period, due to a change in derivative liability for the quarter. The derivative liability gain of $7.1 million partially reversed losses of $10.2 million taken in prior periods for loss on change in derivative liability.
Commenting on the results, Debt Resolve President and CFO David Rainey stated, "We continued to complete the restructuring of our balance sheet by removing more than $500,000 of legacy liabilities via settlement at a discount during the quarter. We expect more liabilities to be removed in the three months ending September 30, 2010. Also, as previously announced, we completed a first closing of a significant equity financing, which provides funds for future operations to increase revenue further."
James Brakke, Debt Resolve CEO, stated, "The fundamentals of the Company continue to improve. Our focus now has changed to rapid revenue growth. We are increasing our efforts with collection agencies and law firms and are moving aggressively into healthcare with hospitals and provider groups."
About Debt Resolve, Inc.
Debt Resolve provides lenders, collection agencies, debt buyers and hospitals with a patent-protected online bidding system for the resolution and settlement of consumer debt, as well as a collections and skip tracing solution that is effective at every stage of collection and recovery. The company is publicly held and its shares are quoted on the OTC Bulletin Board under the symbol DRSV. Amended quarterly reports on Form 10-Q for the periods ended June 30, 2008 and September 30, 2008 will be filed with the SEC to correct an erroneous accounting of common stock issuances, as further discussed in our Form 8-K dated August 14, 2009. Debt Resolve is headquartered in Tarrytown, New York. For more information, visit debtresolve.com.
Forward Looking Statements
Certain statements in this press release and elsewhere by management of the Company that are neither reported financial results nor other historical information are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of the Company's operations. Debt Resolve undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Investors are advised to consult any further disclosures made on related subjects in the Company's reports filed with the SEC. For more information, visit debtresolve.com.
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PureSpectrum Board of Directors Accepts Resignation of CEO Lee L. Vanatta Effective Immediately
SAVANNAH, Ga., Aug 25, 2010
Today the Directors of PureSpectrum, Inc. (OTCBB: PSRU), a public company based in Savannah, Ga., by a majority vote of the Company's Board of Directors, constituting a majority of the Directors of the Company, accepted the resignation of Chairman and Chief Executive Officer Lee L. Vanatta effective immediately.
ABOUT PURESPECTRUM
PureSpectrum, Inc. is a progressive lighting company headquartered in Savannah, Ga., dedicated to researching and developing innovations in lighting in multiple categories that provide answers to questions facing the lighting industry. PureSpectrum is committed to identifying, cultivating, creating and implementing products and technologies that will satisfy the demand for cost effective, performance-driven energy efficient lighting solutions. The company's mission is grounded in the quest to preserve natural resources and a belief that energy efficient lighting will be embraced and absorbed through improved performance. PureSpectrum is introducing products and identifying technologies that enable energy conservation and improved performance without increased cost or confusion for the consumer. PureSpectrum plans to continue its commitment to researching and developing products that satisfy consumer demand and advance the cause of energy conservation. Please call (912) 961-4980 or visit www.purespectrumlighting.com for more information on PureSpectrum.
Certain statements contained in this news release regarding matters that are not historical facts may be forward-looking statements. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties pertaining to continued market acceptance for PureSpectrum's products and services, its ability to succeed in growing revenue, the effect of new competitors in its market, integration of acquired businesses, and other risk factors identified from time to time by PureSpectrum. For additional information concerning risk factors, please refer to the securities filings at http://www.otcbb.com/asp/Info_Center.asp.
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