sevenOdouble
13 años hace
Law Office of Brodsky & Smith, LLC Announces Investigation of Pinnacle Data Systems, Inc.
Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Pinnacle Data Systems, Inc. (“Pinnacle” or the “Company”) (AMEX: PNS) relating to the proposed acquisition by Avnet, Inc. The proposed deal has an equity value of approximately $22 million.
Under the terms of the proposed transaction Pinnacle shareholders would receive $2.40 in cash for each share of Pinnacle stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Pinnacle for not acting in the Company’s shareholders' best interests in connection with the sale process.
If you own shares of Pinnacle stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at investorrelations@brodsky-smith.com, visiting http://brodsky-smith.com/359-pns-pinnacle-data-systems-inc.html , or by calling toll free 877-LEGAL-90.
Source: Business Wire (November 11, 2011 - 11:30 PM EST)
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sevenOdouble
13 años hace
Shareholder Alert: The Briscoe Law Firm and Powers Taylor, LLP Investigate the Board of Pinnacle Data Systems, Inc. Concerning the Sale of PNS to Avnet, Inc.
DALLAS, Nov. 11, 2011 /PRNewswire/ -- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Pinnacle Data Systems, Inc. ("Pinnacle Data" or "PNS") (AMEX: PNS) to Avnet, Inc. for shareholders. Under the proposed acquisition agreement, Pinnacle Data shareholders will only receive $2.40 in cash for each share of Pinnacle Data/PNS stock owned, which represents a premium of only $.05 above the high closing price of PNS stock within the 120-day period preceding the announcement.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The definitive acquisition agreement involves an all cash transaction valued at approximately $22 million. The transaction is expected to close in early 2012.
The investigation centers on whether Pinnacle Data shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Pinnacle Data stock, and whether Pinnacle Data's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. According to shareholder rights attorney Willie Briscoe, "particularly troubling is the fact that Pinnacle Data shares closed at $2.35 per share as recently as July 26, 2011. The acquisition price represents a premium of only 2% over this value." In addition, Pinnacle Data recently released positive financial results for the company, including reporting seven sequential quarters of profitability. "Based on these and other factors, we believe that the transaction may significantly undervalue Pinnacle Data/PNS stock. Our lawsuit will seek to obtain the highest share price for all shareholders," said Briscoe.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
SOURCE Powers Taylor, LLP
Source: PR Newswire (November 11, 2011 - 1:28 PM EST)
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CharlesNet
13 años hace
Yesterday I had a conversation with Borneo CEO Nils Ollquist amd George Matin the BRNE contact at OFS Capital Group and I liked what I heard. I encourage anyone interested in Borneo to contact Mr. Matin with questions.
I have been accumulating shares of BRNE for some time now (since before the reverse merger) and think the story has finally come together. Matin told me that:
1. An IR-PR firm has been hired and will begin to educate the investing public on the potential of BRNE. Matin told me that the company would likely start putting out information just after Thanksgiving.
2. BRNE is working to become Fully Reporting and that should be accomplished within the next 6-weeks or so...likely between Thanksgiving and Christmas.
3. Once fully-reporting status has been obtained the company will Up-List to the QB or QX Exchange. More than likely that up-listing will happen in January.
4. Once up-listed the company will make application to become listed on NASDAQ and that the up-listing to NASDAQ should be in place during the 2nd Quarter of 2012.
One of the exciting things about BRNE is that they are in Indonesia and have been acquiring property for coal production. At the end of this update is a recent PR released about a month ago. Here is an excerpt from that PR: "The first agreement is for the mining rights on a 1,300 hectare property which the Company believes, pending a final geological study, contains estimated coal reserves of 8 million tons. The second agreement is a memorandum of understanding for the mining rights for an additional 2,000 hectare property, which the Company believes will contain over 12 million tons in estimated coal reserves. Given the current median market price of steaming coal of approximately $50 per ton, the coal located on these two properties, prior to the costs of extraction and shipping, could possibly exceed $1 billion."
One hectare is equal to about 2.47 Acres. What I have learned is that the company plans to acquire more properties in Indonesia for supply to high growth economies in Asia, particularly India and China.. A few things we can count on is that rapidly growing Asian economies will need more power; Coal will be a major need going forward.
Investment Highlights:
• Borneo Resource Investments Limited (“Borneo Resource”) engages in acquisition of thermal coal mining licenses in Kalimantan Indonesia and coal trading.
• Based in Washington, USA, Borneo Resource is US public reporting company traded on US over the counter market. The trading symbol is “BRNE”
• Borneo Resource currently controls 2 high quality mining concessions with operating licenses covering a total area of 7,300 hectares (approx. 18,000 acres) and estimated reserves of 48 million metric tons. thermal coal reserves.
• The Company’s coal reserves contain thermal coal that is primarily used for power generation. With rapid economic growth in both China and India (combined population 2.7 billion), demand for power is growing exponentially. Both China and India are major thermal coal importers and are actively seeking to acquire stockpiles of coal to supply future needs, so the price of coal is expected to continue rising.
• In addition to its existing properties, The Company currently has a pipeline of 6 concessions encompassing 84,000 hectares with estimated reserves of 400 million metric tons
• Based on its existing concession portfolio, Borneo Resource’s net asset value per share is calculated to be approximately $35. The potential capital gain is tremendous.
Borneo Resource’s Coal Reserve:
Existing Concessions:
• PT Chaya Meratus, Kalimantan
• Estimated reserves of 40 million metric tons
• Property size(following upgrade of production license) 6,000 hectares
• PT Integra Prima, Kalimantan
• Estimated reserves of 8 million metric tons
• Property size, 1,300 hectares
• Based on existing market price of around $60 per ton, estimated value of Borneo resource’s existing reserves would be $2.5 billion or US$35 per shares?
Planned acquisitions:
Six concession, (license,) properties comprising a total of 84,000 hectares of prime coal bearing property with estimated reserves of approximately 400,000 metric tons.
Revenue Projection:
The Company is currently negotiating on the sale of a 120,000 ton shipment of medium quality coal which will generate gross profit of around $3 million, anticipated to close before the end of 2011.
Borneo Resource’s growth strategy
• Borneo Resource’s asset growth strategy is by acquisition of existing concessions for exploration and production of thermal coal in Kalimantan, Indonesia.
• The Company’s near term revenue strategy is based on trading stocks of thermal coal from the Kalimantan region, capitalizing on robust demand from China and India?
• Borneo Resource has a strong relationship base and political connections in Kalimantan, essential for sourcing of attractive concession opportunities?
• The Company is in discussions with Evonik Industries Gmbh to jointly develop the 6,000 Meratus concession through construction of mining facilities and a 150-200MW power station for distribution into the Indonesian national power grid. Evonik Industries is a major independent, multinational power producer based in Germany.
• Borneo’s key management consists of experienced mining professionals, including Australian trained mining geologists, investment bankers and private equity investors. The Company also has an on-the –ground team in Kalimantan for project evaluation and due diligence.
• The Company aims to maximize its shareholder’s value by leveraging its professional expertise in the mining and resources industries with extensive capital markets experience and, most importantly, capitalizing on its ability to acquire valuable concession assets at attractive cost through its strong relationship base in the region?
Key Personnel:
Nils Ollquist, Chairman/CEO
Former head of M&A at Bank of America in US and Hong Kong, founder of US listed Orient Packaging Limited, former advisor to the holding company of Umami Sustainable Seafood Inc. A US publicly company, former advisor to Tulla Resources, a major Australian coal mining and resource company. Listed on ASX?
Carlo Muaja, Director/COO
Qualified CPA, Former commercial banker at Chase Manhattan Bank, Indonesia, with focus on FX trading and mining/resource advisory. Spent 2 years as in auditing in California
Scott Chaykin, CFO
Licensed US CPA and former CFO of various US public companies
Nicholas Bryan, Director
Former Executive Director of HSBC and Head of Global Settlements
Grace S J Sarendatu, Legal and Notary public
Indonesia certified public notary and legal advisory specializes in mining/resources negotiation, due diligence and investment execution.
I like this company a lot and I plan to continue accumulating shares of BRNE with my personal share-price target focused on $12 - $15 within three years. Shares of BRNE Closed at: $1.80 today, November 9, 2011. In my opinion, Borneo is a real company with real assets and should do well going forward.
Charles
NEWS RELEASE (referred to on page one):
BOTHELL, Wash., Oct. 12, 2011 /PRNewswire/ -- Borneo Resource Investments Ltd. (OTCPK: BRNE), a Company that recently acquired Interich International Limited and changed its name from Aventura Resorts, Inc., announced, that as part of the ongoing implementation of its strategy of acquiring natural resources in the Kalimantan Province of the Republic of Indonesia, it has signed two new significant agreements to acquire properties with coal reserves.
These agreements have been entered into by Interich International Limited. The first agreement is for the mining rights on a 1,300 hectare property which the Company believes, pending a final geological study, contains estimated coal reserves of 8 million tons. The second agreement is a memorandum of understanding for the mining rights for an additional 2,000 hectare property, which the Company believes will contain over 12 million tons in estimated coal reserves. Given the current median market price of steaming coal of approximately $50 per ton, the coal located on these two properties, prior to the costs of extraction and shipping, could possibly exceed $1 billion. Both properties currently have both mining and production licenses, and will be able to export the coal from Indonesia. The Company indicated that as it acquires the mining rights for properties and conduct the necessary geological surveys, it will disclose the proven levels of the properties reserve estimates utilizing international standards. The Company has retained the services of an international mining geology firm in Jakarta, Indonesia to start this process.
The Company has initiated discussions with potential strategic partners in Europe, Asia and Australia to bring in additional capital and expertise to our mining platform. These strategic partners may invest in infrastructure for the properties under its control, both for mining and construction of onsite power generation facilities, to take advantage of the high quality coal located on its properties. This will significantly reduce the capital requirements that development of the properties would otherwise impose in exchange for revenue sharing for the coal mined and power produced.
In the process of conducting geological studies and establishing operations in Indonesia, the Company also gained access to significant quantities of coal which it will monetize. The Company projects that its first trade will be on approximately 120,000 tons of medium quality coal which will be sold to an Indian end user. This initiative should result in the generation of revenue by the end of 2011. These opportunities will enable a trading business to be operated in parallel to the acquisition and development of mining properties.
Even as the Company focuses on thermal coal, to the extent that its coal concessions are heavily forested (Kalimantan contains some of the largest reserves of tropical rain forest outside the Amazon), timber licenses will be obtained so that in the early stages of the development of the coal concessions the timber can be harvested using sustainable harvesting practices. Revenue from such timber sales will provide funding for mining operations and enhance the Company's profits.
"We have very strong relationships in Kalimantan and I am pleased that they are providing us with access to extraordinary opportunities in the region," said Nils Ollquist, CEO and President of Borneo Resource Investments. Mr. Ollquist further stated that, "We will continue to build value for our shareholders by not only increasing our holdings in the region, but also by increasing our visibility and transparency with our shareholders."
The Company's corporate activities continue to move forward. The Company is building its management team and Board of Directors. In anticipation of filing a Form 10 with the Securities and Exchange Commission before the end of 2011, the Company is the process of being audited and preparing the necessary documents. Mr. Ollquist noted, "Our ultimate goal is to list our shares on a national securities exchange in the United States and our actions over the last several months will bring us closer to that goal."
About Borneo Resource Investments Ltd. (BRNE).
With its international headquarters in the Seattle, Washington area, Borneo Resource Investments Ltd. through its wholly-owned subsidiary Interich International Ltd, obtains mining concessions to explore and develop coal reserves in the East Kalimantan region of the Republic of Indonesia.
http://finance.yahoo.com/news/Borneo-Resource-Investments-prnews-2959880998.html?x=0&.v=1
Contact:
George Matin
OFS Capital Group
(310) 552-8068.
~ Blue ~
13 años hace
<<<< PNS, new DD with all the links >>>>
1) PNS Enters OEM Agreement With IBM new DD
COLUMBUS, OH, Jul 26, 2011 (MARKETWIRE via COMTEX) -- Pinnacle Data Systems, Inc. ("PDSi") PNS +0.43% announced today that it has entered into an Original Equipment Manufacturer (OEM) agreement with IBM. This agreement provides PDSi with the ability to design and sell products based upon IBM's System p and System x technologies.
John D. Bair, PDSi's Chairman of the Board, President and Chief Executive Officer, stated, "PDSi's exceptional engineering and operational capabilities complement IBM's product and technology offerings. This agreement provides PDSi access to IBM's market leading technologies that can be leveraged across all three of our targeted market segments. For Embedded Computing, with an estimated market size of $5 billion, we are working on developing NEBS certified products for the telecommunications ("telco") industry, as well as products designed for other applications. This also broadens the technology platforms we can offer in the more than $100 billion Integrated / ODM Computing Solutions segment as we design and build custom solutions for customers in the telco, medical, and other industries with specialized requirements such as ruggedization. In the Electronic Repair Services Segment, this opens up access to whole new markets seeking to extend the life-cycle of IBM-based technologies."
Mr. Bair continued. "The key to our past Product success has been partnerships in value-added design and integration services. Maintaining and developing new partnerships with industry leading technology companies provides us access to products and technology we can use in targeted Integration opportunities -- both as a Value Added Reseller, or VAR, and as an Original Equipment Manufacturer, or OEM."
Timothy J. Harper, PDSi's Chief Operating Officer, added, "We have substantially grown our Service business over the past year, and our current focus is on driving profitable growth in our Products business. This agreement is a key strategic milestone positioning PDSi for growth. This agreement not only adds to our capability in developing leading technology product offerings, but also opens up new routes to market leveraging IBM's extensive business development resources."
http://www.marketwatch.com/story/pdsi-enters-oem-agreement-with-ibm-2011-07-26?reflink=MW_news_stmp
..................ABOUT PNS...................
2) PNS employs about 150 employees globally.
http://www.pinnacle.com/resources/faqs/
3) Certifications Holds
ISO9001(General Quality Management Systems)
ISO13485 (Medical)
TL9000 (Telecommunications)
ISO14001 (Environmental)
http://www.pinnacle.com/resources/faqs/
4)Earning per share 38 cents in 2011. The first quarter earning per share 7 cents
http://www.google.ca/finance?q=AMEX:PNS&fstype=ii
http://www.investquest.com/iq/p/pns/main/InvestorFactSheet_Q111.pdf
5) O/S 7.86, float 6.46 million shares
http://finance.yahoo.com/q/ks?s=PNS+Key+Statistics
6) EMS Market Place is a $354 Billion Dollar Business
http://www.investquest.com/iq/p/pns/main/2011annual-meeting.pdf
7) Embedded Computing products
http://www.pinnacle.com/products2/
8)CUSTOMERS
PDSi has established key customers on a Global scale such as; Alcatel, Lucent, Phillips, Bayer, Sun, Hewlett Packard, Motorola, Citrix, Xerox, Kodak, to name a few.
http://www.pinnacle.com/resources/faqs/
9) The first quarter result
http://www.investquest.com/iq/p/pns/confcall/2011Q1ConferenceCallPres.pdf
10) Second quarter results on July 28, 2011
http://www.investquest.com/iq/p/pns/ne/pns072511.pdf
THIS COMPANY IS THE BEST TAKEOVER CANDIDATE
I GUESS WE WILL SEE 10, 20 DOLLARS PER SHARE
ALL IS MY RESEARCH, READ AND CHECK THE LINKS MAKE YOUR OWN DECISION
BLUE~
~ Blue ~
13 años hace
Pinnacle Data Systems, Inc. (AMEX:PNS)
Pinnacle Data Systems, Inc. is a global provider of Electronics Repair and Reverse Logistics Services, ODM/OEM Integrated Computing Services, and Embedded Computing Products and Design Services for the Diversified Computing, Telecom, Imaging, Defense/Aerospace, Medical, Semiconductor and Industrial Automation markets. Pinnacle Data Systems, Inc. provides a variety of engineering and manufacturing services for global OEMs requiring custom product design, system integration, repair programs, warranty management, and/or specialized production capabilities. With facilities in the U.S., Europe and Asia, Pinnacle Data Systems, Inc. ensure seamless support for solutions all around the world.
Pinnacle Data Systems, Inc. reported that it has entered into an Original Equipment Manufacturer (OEM) agreement with IBM. This agreement provides PNS with the ability to design and sell products based upon IBM's System p and System x technologies.
"PDSi's exceptional engineering and operational capabilities complement IBM's product and technology offerings. This agreement provides PDSi access to IBM's market leading technologies that can be leveraged across all three of our targeted market segments," stated John D. Bair, Pinnacle Data Systems, Inc. Chairman of the Board, President and Chief Executive Officer
For more information about Pinnacle Data Systems, Inc. please visit http://www.pinnacle.com/
http://www.feedthebull.com/article/sone-vltr-pns-crweselectcom-stock-news-s1-volterra-semiconductor-pinnacle-data-systems-video