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PTS, Inc. (OTCPK:PTSH)
PTS, Inc. announced this week that through its ThinLine division it has signed a 3 year IT Services deal with United Power.
United Power (www.unitedpowerinc.com) is acknowledged experts on the resale of products especially suited for medium voltage power distribution, in addition to providing a wide portfolio of products for other aspect of the electrical utility business. United Power has been serving electrical utility Customers within Georgia continuously since 1976. They have developed a reputation for customer sensitivity, fair dealing and exceptional quality during this time.
United Power required an IT solution that would allow them to contact one source for all of their IT needs.
In other company news, PTS, Inc announced this month after the market closed that Raj Kalra has been named Chairman and Chief Executive Officer, effective immediately. Mr. Kalra replaces Teresa Rubio who has served as Chairman and Marc Pintar who has served as PTSH Interim Chief Executive Officer. In addition to his role as CEO, Mr. Kalra will serve on PTSH 's Board of Directors.
"Raj Kalra brings the right skill set to lead PTSH as we move forward and commence a focus on restructuring, stabilization, growth and profitability," said Marc Pintar, PTSH Interim CEO. "Raj's leadership skills and extensive experience in mergers and acquisitions, as well as business niches such as technology, retail, energy and financial sectors, make him the right CEO to lead PTSH down its new road to success," added Mr. Pintar.
Raj Kalra is the founder and CEO of ThinLine Technology Group, and brings over a decade of leadership, management skills and experience in the information technology industry. Prior to founding ThinLine, Mr. Kalra spent 20 years in developing and expanding start-up businesses, public corporations and turn-around.
"I'm very pleased to be named the CEO of PTSH," said Raj Kalra. "I am working very hard to bring value to our shareholders. My first order of business is to announce that PTSH , via ThinLine, has been granted a contract to develop and manage the modifications to a certain proprietary cloud computer software solution that ThinLine created based on the client's requirements for an online inventory management system for contracts that they manage for cable operators nationally." Raj Kalra continued, "This system tracks the sales process and contract maintenance between the cable operator and the property owner/investment company. It also tracks revenue sharing that is owed to the property based on right-of-entry agreements or tracking of bulk cable/internet agreements for the units of the property. This is a very meaningful contract for PTSH and shareholders will be advised of any additional developments as they unfold."
"Our Client is the leading provider of MDU services to the largest cable operators in the country, securing thousands of units every month for their clients. The details of this contract will be released shortly, upon satisfaction of all parties," concluded Raj Kalra.
PTSH intends to acquire undervalued businesses and/or merge with businesses with a history of operating revenues. Prior to February 23, 2010, PTSH engaged in the provision of accessibility compliance consulting services to government, school districts, and municipalities and other public entities, as well as to retail, commercial, recreational, and corporate customers. PTS, Inc. was founded in 1996 and is based in Las Vegas, Nevada.
To learn more about PTSH visit: http://www.ptspi.com
Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Sandy Spring Bank announces the appointment of Frederic G. Burke, Jr. as Senior Vice President and Manager of the Investment Management and Fiduciary Services Division.
Sandy Spring Bancorp, Inc. operates as the holding company for Sandy Spring Bank, which offers a range of commercial banking, retail banking, and trust services to individuals and businesses in Maryland.
Essex Property Trust, Inc. (NYSE:ESS), a fully integrated Real Estate Investment Trust that invests in apartment communities located in highly desirable, supply-constrained markets, announced recently that Keith R. Guericke, who has served the Company for over 33 years, plans to step down as President and CEO on January 1, 2011.
Essex Property Trust, Inc., a real estate investment trust, engages in the ownership, operation, management, acquisition, development, and redevelopment of apartment communities primarily in the West Coast of the United States.
Eline Entertainment Group Inc. (OTCPK:EEGI)
Eline Entertainment Group, Inc. announces that the company has entered into merger discussions with China-based video game designer Vu365.
EEGI management feels that this is a significant event that merits reporting to the market. Management believes that this merger is imminent, as Vu365 has been looking to enter the USA markets for quite some time, and virtually exhausted its patience in discussion with another publicly traded company. EEGI management being able to accommodate VU365 needs is taking aggressive action. According to sources, Vu365 offers revenues in the $2 million USD range, with profits of $500,000 USD.
In other company news, EEGI board awaits Innovation Group (Inn) updates regarding diversification of the Inn assets. EEGI management is looking for a change in direction and growth with its focus set in the entertainment industry with the aforementioned pending merger of VU365; and the recent merger of USA based luxury leisure transportation services.
EEGI is excited about these new developments and will follow up with more updates shortly.
To learn more about EEGI visit: http://www.elineentertainment.com
Hydrogenics Corporation (NASDAQ:HYGS), a leading developer and manufacturer of hydrogen generation and fuel cell products, recently reported third quarter 2010 results. Posted revenues of $5.6 million for the three months ended September 30, 2010, an increase of 57% from the comparable period in 2009.
Hydrogenics Corporation, together with its subsidiaries, designs, develops, and manufactures hydrogen generation products based on water electrolysis technology and fuel cell products based on proton exchange membrane technology in Canada and internationally.
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