Muscle Pharm Corp. (MSLP.OB) one of the fastest growing nutritional supplement companies in the United States, previously announced a fulfillment agreement with IVitals that is expected to improve cash flow, reduce backorders, improve turnaround time on all orders and allow management to focus its time and resources on the marketing and selling of MusclePharm’s growing portfolio of products.
The Company expects to achieve over $4 million in sales for the full year of 2010, which is over 300% growth compared to the same period last year. The rapid growth and strong customer demand for the MSLP products has created back orders for 5 of the 12 months in 2010. The new fulfillment agreement is expect to greatly improve the back orders for the remainder of 2010 and reduce the insufficient levels of stock needed to complete all orders.
MusclePharm’s President, Cory Gregory stated, “This fulfillment agreement will reduce the cost and delivery time for all product shipments to our many retail and online customers. In addition, by outsourcing our fulfillment function, management will be able to focus our time and resources on expanding sales opportunities and enhancing our brand.” Mr. Gregory continued, “With rapid growth of 300% come a few growing pains such as back orders. I am pleased that we expect to achieve this growth in 2010 despite having 40% of our orders on back-order. However, with this fulfillment agreement, we have greatly improved our operating platform and believe we have rectified our back order situation. With a dramatically improved operating platform and leading nutritional supplements that are 100% free of any banned substances we are very well positioned for continued strong growth in 2011.”
MusclePharm is a rapidly expanding healthy life-style company that develops and manufactures a full line of NSF and scientifically approved, nutritional supplements that are 100% free of any banned substances.
For more information about this company please visit http://www.musclepharm.com
American Video Teleconferencing Corp. (AVOT.PK) previously reported the signing an option agreement to acquire two claim blocks in townships of Mekinac and Lajuene, Province of Quebec. These claim blocks are approximately 3600 acres in total and are located 120 miles east of Montreal P.Q. and 50 miles north of Three Rivers P.Q. They are accessible year round with infrastructure in the immediate vicinity. The claims adjoin a property that had one of the highest readings of Rare Earths in North America. Sampling in the 1950s gave readings of 48% combined Cerium, Lanthanum, Neoymium and Yttrium. That property has remained dormant for over 50 years but the new owners plan an extensive exploration program this fall. The company, after a lengthy search and after careful due diligence, believes this is going to be one of the most active areas for Rare Earths exploration and our holdings are in the same geological setting as the 48% Rare Earths showing.
Rare Earths are in huge demand especially in the United States as China is closing off its exports of these strategic metals to less than 5% of its production.
AVOT will aggressively continue to search world wide for opportunities in Precious, Base and Rare Earths metal projects.
Radio One Inc. (NASDAQ:ROIA) recently announced that its pending exchange offer (the “Amended Exchange Offer”) relating to its 8-7/8% Senior Subordinated Notes due 2011 (the “2011 Notes”) and its 6-3/8% Senior Subordinated Notes due 2013 (the “2013 Notes” and together with the 2011 Notes, the “Existing Notes”) expired at 5:00 p.m., New York City time, on November 19, 2010 (the “Expiration Time”). As of the Expiration Time, approximately 98% of the combined aggregate principal amount outstanding of the 2011 Notes and the 2013 Notes had been validly tendered and not withdrawn and approximately 96% in aggregate principal amount outstanding of the 2011 Notes had been validly tendered and not withdrawn, which together satisfied the minimum tender conditions of the Amended Exchange Offer.
Radio One, Inc. operates as an urban-oriented multi-media company in the United States. It principally engages in the radio broadcasting operation that primarily targets African-American and urban listeners. As of December 31, 2009, it owned and operated 53 radio stations located in 16 urban markets in the United States. The company also has approximately 37% ownership interest in TV One, LLC, an African-American targeted cable television network; and a 53.5% ownership interest in Reach Media, Inc., which operates the Tom Joyner Morning Show.
Fuqi International, Inc. (NASDAQ:FUQI) reported a receipt, as expected, of a notice of noncompliance from The NASDAQ Stock Market due to the delay in filing the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2010.
Fuqi International, Inc., through its subsidiaries, engages in designing, developing, promoting, and selling precious metal jewelry in the People’s Republic of China. The company offers basic gold jewelry, as well as a range of products, including rings, bracelets, necklaces, earrings, and pendants made from precious metals, such as platinum, gold, palladium, and karat gold. It also manufactures jewelry with diamond and other precious stone inlays, as well as gold coins and gold bars. Fuqi International sells its products primarily to the national and provincial distributors. The company was founded in 2001 and is headquartered in Shenzhen, the People’s Republic of China.
ValueVision Media Inc. (NASDAQ:VVTV) previously reported a one-year extension of its license agreement with NBC Universal, Inc. (”NBCU”) for use of the ShopNBC brand related to its television shopping network and its e-commerce websites www.ShopNBC.com and www.ShopNBC.tv. The license agreement, which was to expire in May 2011, has been extended to May 2012.As consideration to NBCU for the license extension, the Company will issue common stock in May of 2011 valued at $4 million. Additionally, the agreement allows for a 1-year extension to May 2013 upon the mutual agreement of both parties.
ValueVision Media, Inc., a multi-media retailer, engages in marketing, selling, and distributing its products directly to consumers through various digital platforms. It sells men’s and women’s watches, collectible coins, and other collectible items; gold, gemstone, and fashion jewelry for men and women; and consumer electronics, including desktop and notebook computers and related accessories, as well as home electronics, such as LCD televisions and digital cameras.
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