2011
12.13

Hitor Group Announces New Technology

 

 

KIRKLAND, WA, Dec 12, 2011 (Marketwire via COMTEX) — After more than four years of tireless Research & Development Hitor Group (OTCQB: HITR) (PINKSHEETS: HITR) in conjunction with Micfil, Germany is now ready to introduce the latest technology in the fuel savings and emission reduction arena. The product we have temporarily named the NJCT. The NJCT is a totally new technology that is relatively easy to install, works on both gas and diesel engines and in short and long term tests fuel savings have been dramatically increased and emissions have also been improved. These types of results are unheard of in the transportation industry and Hitor believes that the NJCT will become one of the standards in both the fuel and emission segments in the transportation market.

 

Hitor has signed an exclusive marketing agreement with Micfil, Waldbrunn, Germany to distribute their products Worldwide. The much anticipated third party testing being conducted is scheduled to be completed early 2012 with initial orders from many of the transportation segments starting shortly thereafter. All NJCT units will be manufactured to the highest standards in Germany.

 

Ken Martin, CEO Hitor Group, says, “After the successful test of the NJCT, we anticipate cutting the emissions by at least 50% and saving fuel between 35-40%. We should then go quickly to the next phase and do the field test on the locomotives and trucks; with results like these a device would be cost effective in one to two months.”

 

About Hitor Group: Hitor Group, Inc. (HITR) is the producer of the patent applied for Nano-Jet line of magnetic fuel performance enhancing Modules. Nano-Jet offers the most highly refined and effective fuel performance enhancement technology available in the market today. Nano-Jet’s proprietary design breaks down the molecular clusters which naturally exist in the fuel into single molecules and polarizes those molecules to enable a more complete combustion of the fuel/air mix. Extensive testing of the line of Nano-Jet models on a variety of gasoline and diesel engines has conclusively proven that fuel treated by these fuel performance optimizing devices produces measurably more power, increases fuel economy by an average of 5% or more and reduces toxic exhaust emissions 30% or more. The Nano-Jet Fuel Module is suitable for use with a wide variety of internal combustion power plants from the smallest single cylinder gasoline engine to diesel railroad locomotives and marine diesels. To learn more about The Hitor Group, please visit our website at www.hitorgroup.com

 

Disclaimer Any statements that are not based on historical fact are forward-looking statements. Although such statements are based on management’s current estimates and expectations, and currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain. We, therefore, caution the reader that there are a variety of factors that could cause business conditions and results to differ materially from what is contained in our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our most recent Form 10-K, and in particular the discussions contained under Items 1 – Business, 1A – Risk Factors, 3 – Legal Proceedings, and 7 – Management’s Discussion and Analysis of Financial Condition and Results of Operations.

 

SOURCE: Hitor Group, Inc.

 

CONTACT: Ken Martin

 

(206) 229-4188

 

info@hitorgroup.com

 

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2011
12.12

ITNS Receives $128 Million Dollar Valuation on Newest Acquisition

 

 

IRVINE, CA, Dec 12, 2011 (MARKETWIRE via COMTEX) — Itonis, Inc. (PINKSHEETS: ITNS) today released a valuation report showing the post-acquisition combined value of ltonis, Inc., and Paramount Discoveries to be $128,796,000.

 

The report was prepared by Hanover Federal Capital Corporation as part of the due diligence process for Itonis, Inc.’s recent acquisition of Paramount Discoveries. A complete copy of the report is available for review on Itonis’ website at www.itonisholdings.com.

 

The valuation report cited Paramount Discoveries’ Electro-Magnetic Frequency Technology capabilities for magnetizing elements and compounds such as carbon, silver, and salt. Paramount Discoveries’ ability to create and sustain an indefinite magnetic moment in these natural elements and compounds is expected to generate unprecedented applications in the industrial, manufacturing, mining, agricultural, and “green” technology sectors.

 

“The valuation report confirms our confidence that Itonis has acquired a highly valuable asset in Paramount Discoveries that is expected to translate into substantial value for ITNS shareholders,” said Mark Cheung, CEO of Itonis Holdings.

 

Paramount Discoveries is making its Electro-Magnetic Frequency Technology available for licensing in 2012.

 

About Paramount Discoveries, Inc.

 

Paramount Discoveries, Inc. is a scientific research company originally founded in 1995 by Stuart Robbins. They have developed a proprietary technology that can stimulate magnetism in several common natural elements and minerals. For more information visitwww.paramountdiscoveries.com

 

About Itonis, Inc.

 

Itonis, Inc. (the “Company”) was incorporated in the state of Nevada on July 5, 2005 under the name of Kenshou, Inc. Subsequently, its name was changed to its present name, Itonis, Inc., on December 2, 2005. For more information visit www.itonisholdings.com

 

Safe Harbor:

 

Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company’s future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company’s affiliates that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.

 

Contact:

 

Michael Biddick

 

Email Contact

 

 

 

 

 

SOURCE: Itonis, Inc.

 

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2011
12.12

ADHC Appoints Domenic Macchione as President and Chief Operating Officer

 

 

DEL MAR, Calif., Dec 8, 2011 (GlobeNewswire via COMTEX) — American Diversified Holdings Corporation (ADHC.PK) announced today that its wholly owned operating subsidiary Rebel Networks has signed on several new clients.

– DinnerBid.com,

– Aywas.com,

– DmConnect.com

– DataProtection.com

 

ADHC is pleased to announce that it plans an ambitious expansion of its capacity to accommodate the growing list of new clients. A capital expenditure program will commence in the first quarter of 2012 to ensure that the accelerating growth of the Company will be optimized with state of the art equipment from leading IT and cloud computing infrastructure providers and additional highly qualified personnel.

The Company will also be embarking upon a program of acquiring strategic competitors that will compliment this growth strategy. This two pronged approach will ensure the organic growth of Rebel as well as making accretive acquisitions that will help the acceleration in revenues and profits necessary to maintain this pattern.

 

In other news, Rebel CEO Domenic Macchione has been appointed President and COO of ADHC.

 

ABOUT REBEL NETWORKS

 

www.RebelNetworks.com

 

Based in Ontario, Canada and Dallas, Texas, Rebel Networks is a leading provider of outsourced Internet infrastructure and related managed web solutions to customers in over 35 countries. Rebel Networks services include the provision of self- managed and fully managed dedicated servers, unmanaged collocation services, domain names services, Web Design, Application Development, & shared web hosting solutions. Rebel Networks deploys secure, scalable, high performance business solutions to customers ranging from small, emerging businesses to large, and enterprise corporations.

 

BUSINESS OPERATIONS

 

Rebel Networks today hosts over 10,000 websites, email accounts, domain names, and online services to companies in over 35 countries around the globe. The customer base is mostly small and medium businesses, but blue chip accounts such as HSBC, Ferrari Racing, Research in Motion and Workers Compensation have sought Rebel Networks expertise.

 

TECHNOLOGY PARTNERS

 

Infrastructure Partners

Cogent, Cisco, T-systems Canada (Deutsch

Telekom), Intel, MySQL, Seagate, Western

Digital, Dell, HP, IBM

 

Solution Partners

WHM Complete Solutions, Geotrust Quick

SSL, PSI Gate

 

Technology Partners

Dell, HP, C Panel, SW Soft, Microsoft

 

Strategic Partners

C Panel, Microsoft, Parallels, WHM

Complete, PSI Gate, Citrix, ON App

 

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: American Diversified Holdings Corporation

 

By Staff

 

CONTACT: CONTACT: www.americandiversifiedholdings.com

ir@americandiversifiedholdings.com

 

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2011
12.06

Sensor System Solutions, Inc. (SSYO) Acquired Social Networks Development Company: Perfecto Design

 

 

Henderson, NV December 4, 2011 – - Sensor System Solutions, Inc. (SSYO; http://www.sensorsystemsolutions.com/) is pleased to announce that the negotiations between SSYO management and the social networks development company Perfecto Design Center lnc. (“Perfecto Design”) had been finalized. Perfecto Design is now the sole subsidiary of Sensor System Solutions, Inc. (http://perfectodesign.ca/flash/).

 

 

As SSYO’s sole subsidiary, Perfecto Design will be relieving the interim management, and taking over the managerial duties within SSYO organization. The current CEO of Perfecto Design and the new incoming CEO of SSYO Sam Bramley stated “We are most thrilled to join forces with SSYO and take on the public markets. Perfecto Design is in an excellent position to make a big splash in the high tech, social networking arena, and SSYO offers a perfect vehicle for Perfecto’s growth in public markets. We have several substantial announcements coming to our investors in next few months, including the launch of our five social networking sites, that we expect to launch within the next six months. We expect these sites to start generate revenues soon after their launch. We are looking forward to start updating our followers and increase SSYO value to the shareholders.”

 

About Perfecto Design Center Inc.

Perfecto Design, http://perfectodesign.ca/flash/, is a Canadian corporation which, in conjunction with its partners, has developed a unique platform which delivers a unique social networking and can be expanded or simplified through one-touch installation of add-on applications. The company and its principals had been working in the social media sphere since its rise, and the company expects to use its experience and product to grow in this market.

 

Besides professional industry partnerships, Perfecto Design Center Inc., currently operates and prepares to launch five social media sites. These sites focus on the specific social groups, geographical areas, minorities, etc. The company will soon start to market the following social media sites: www.beyondburka.com, www.dateamour.com, www.gay101.com, www.singlesmontreal.com, www.singlemums.me.

 

 

 

Industry Overview:

Social media had effectively changed the way people relate and do business. Social Media became the #1 activity on the Web and over 10% of companies use social media for recruitment; 1 in 5 couples meet online; 2009 US Department of Education study revealed that on average, online students outperformed those receiving face-to-face instruction, and if Facebook were a country it would be the world’s 3rd largest and 2x the size of the U.S. population.

 

Safe Harbor Statement

 

Information in this news release may contain statements about future expectations, plans, prospects or performance of Sensor System Solutions, Inc. that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases “can be,” “expects,” “may affect,” “believed,” “estimate,” “project” and similar words and phrases are intended to identify such forward-looking statements. Sensor System Solutions, Inc. cautions you that any forward-looking information provided by or on behalf of Sensor System Solutions, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Sensor System Solutions, Inc.’s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Sensor System Solutions, Inc.’s control. In addition to those discussed in Sensor System Solutions, Inc.’s press releases, public filings, and statements by Sensor System Solutions, Inc.’s management, including, but not limited to, Sensor System Solutions, Inc.’s estimate of the sufficiency of its existing capital resources, Sensor System Solutions, Inc.’s ability to raise additional capital to fund future operations, Sensor System Solutions, Inc.’s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match Sensor System Solutions, Inc.’s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Sensor System Solutions, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.

 

Sensor System Solutions, Inc.

 

Investor Relations

1-647-426-1640

www.minamargroup.net/helpdesk

 

Investor Relations Department Inquiry

www.minamargroup.net (IR)

 

For (M&A) and Corporate Matters

www.minamargroup.com

 

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2011
12.05

Instant Website Technology and www.MyRestaurantWeb.com Announce Major Percentage Gains Over Previous Sales Period

 

 

LOS ANGELES, CA, Dec 02, 2011 (MARKETWIRE via COMTEX) — Amwest Imaging Incorporated (OTCBB: AMWI) is pleased to announce a sales increase of more than 500%, by its recently acquired Instant Web Technologies (IWTI), andwww.MyRestaurantWeb.com for the six month period ending June 30, 2011 from the previous year; which has exceeded company insiders’ expectations.

 

“www.MyRestaurantWeb.com, a competitor of www.opentable.com, has attributed its explosive growth to the virtually monopolistic marketplace that is nearly dominated by Open Table, and its 20,000 restaurants and 250 million users,” stated Amwest CEO Jason Gerteisen.

 

“In addition, www.MyRestaurantWeb.com feels their recently launched mobile media marketing platform will give our early stage company the continued growth and competitive advantage needed to become a serious market share contender of companies like Open Table, currently trading at $36 per share, with Forbes Magazine calling for $65 per share this year.” (http://www.forbes.com/sites/greatspeculations/2011/12/01/opentable-going-to-65-with-buyback-booming-business/?partner=yahootix)

 

As with recently acquired IWTI and www.Zipclik.com, and their submission to the Apple App store, MyRestaurantWeb.com has also started the application process to the Apple App Store.

 

IWTI’s primary business is providing relationship building tools and processes that help any business cultivate profitable relationships with customers, all through web-based solutions. IWTI provides internet marketing through turnkey solutions, primarily through its website: MyRestaurantWeb.com. MyRestaurantWeb.com strives to provide powerful web presence technology to businesses that rely on customer communication and interactivity with their web properties.

 

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases “would be,” “would allow,” “intends to”, “will likely result,” “are expected to,” “will continue,” “anticipate,” “expect,” “estimate,” “project,” “indicate,” “could,” “potentially,” “should,” “believe,” “considers,” or similar expressions are intended to identify “forward-looking statements.” Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company’s historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company’s past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.

 

For Further Information Contact:

 

Investor Relations:

 

Amwest Imaging Incorporated

 

323.556.0710

 

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2011
12.05

RightSmile Restored to Current Information as the Company Rolls Towards Completion of a Reverse Merger

 

 

 

BOCA RATON, Fla., Nov. 30, 2011 /PRNewswire via COMTEX/ — RightSmile, Inc. (OTC:RIGH:PK) is pleased to announce the Company has been fully restored to Current Information on Otcmarkets.com.

RightSmile recently announced its plans on completing a Reverse Merger once the Company was restored to Current Information. During this time, the Company has been completing other tasks needed to complete the transaction and should be in a position to close within the next few weeks. Complete details pertaining to the executed LOI will be released within the next few days as the Company completes the remaining open items.

 

The Company merging into RightSmile is not DevTek as this is an existing entity owned by RightSmile. The merging company is a private entity located on the West Coast servicing a multi billion dollar market just in its home state. This industry has been featured on CNBC a few times and has several publications dedicated to covering the market place. The industry has had over 13 million online searches for the main keyword and 600,000 in Google just in April of 2009 alone, since in 2.5 years the popularity of the terms has risen 712% and 3000% representing a 12% month over month growth rate searching this market.

 

Upon completion of the reverse merger DevTek will be spun out and a brand new company and management team will takeover.

 

The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as “believes,” “expects,” “potential,” “plans,” “suggests,” “may,” “should,” “could,” “intends,” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management’s expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

 

Contact:

 

Randy Schneider561-404-4895

 

SOURCE RightSmile, Inc.

 

 

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2011
12.05

Urban Barns Foods Securities Lawyer Visits Dubai Consultants

 

 

VANCOUVER, British Columbia, Dec. 1, 2011 /PRNewswire via COMTEX/ — Urban Barns Foods Inc. (URBF.QB) (“Company” or “Urban Barns”), a leading authority on sustainable development of fresh vegetables announced today that their Securities lawyer traveled to Dubai, UAE, and on Wednesday met with the Urban Barns regional representative, Profound Management GT. Discussions involved new regional opportunities in the Middle East being spearheaded by Talal Thabet, CEO of Profound Management GT.

 

Dan Meikleham, chairman of Urban Barns, indicates, “Our partners and regional representatives, Profound Management, confirmed with our legal counsel Urban Barns’ innovative agricultural growth technology has been introduced to certain strategic partners in much of the Gulf Cooperation Council (GCC) region and, has been well received.”

 

“Discussions focused on ensuring that the next steps to be taken are to finalize the structuring of a volume share purchase,” stated Mr. Thabet and that Profound’s role is, “Structuring the volume share purchase is essential before we commence discussions with our pool of trusted investors, as it is the basis of our dialogue. We know that the time is right to reveal our technology.”

 

About Profound Management GT LLC.

 

Profound GT LLC, is a specialist in market entry consultation for the Middle East, specifically for the Gulf region. The Profound team brings to the table a strong profile of successful consultancy experience. Clients that can be mentioned include MEGA Holding and its subsidiaries in Bahrain, Trace Design Consultants and Park Central Corporation in the UAE, Retaj Real Estate Company in Qatar, International Railway Company and Machine Vending International to name a few. The Profound team has also worked extensively with Chambers of Commerce and Industry in the region and certain municipal authorities.

 

About Urban Barns Foods Inc.

 

Urban Barns uses patent pending and proprietary equipment to produce affordable vegetables in a secure and controlled indoor environment. By setting up subsidiary facilities and growing locally, Urban Barns can focus on supplying any community, irrespective of the regional climate, effectively reducing shipping times and related spoilage costs. Urban Barns has the unique ability to scale and cater to the demands of all major communities. Our commitment to our consumers is reflected through our motto, “Purely Fresh, Naturally Tasty, and Completely Healthy”. Urban Barns and Urbanbarnsfoods.com and Cubic Farming are registered trademarks and the copyright of Urban Barns Foods Inc. All other company and product names mentioned are used only for identification purposes and may be trademarks or registered trademarks of their respective companies.

 

Forward-Looking Statements:

 

Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to Urban Barns or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of Urban Barns’ products, the competitive environment within the industry, the ability of Urban Barns to continue to expand its operations, the level of costs incurred in connection with Urban Barns’ expansion efforts, economic conditions in the industry and the financial strength of Urban Barns’ customers and suppliers. Urban Barns does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

 

Contacts: Urban Barns Foods Inc.Media Contact: ir@urbanbarnsfoods.comwww.urbanbarnsfoods.com

 

SOURCE Urban Barns Foods Inc.

 

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2011
11.28

TGI Signs Letter of Intent to Acquire Certain Assets of Eliho Energy Systems, Inc.

 

RED BANK, NJ–(Marketwire – Nov 28, 2011) – TGI Solar Power Group, Inc. (PINKSHEETS:TSPG), a diversified holding company, announced today that it has signed a letter of intent to acquire certain assets of Eliho Energy Systems, Inc, a renewable energy company.

 

Edward Stanojev, president of Eliho, commented: “We are delighted to be working together with TGI to move forward with our current projects. We believe that our proposed energy projects and services will be of great value to our future customers in combination with TGI’s Ekoplaz proprietary technology.”

 

About Eliho: environmental solutions provider offering a next-generation technology platform that transforms municipal, industrial, forestry and agricultural waste into solid, liquid and gas-based renewable energy components using a proprietary process without negative effect to the environment. The process is a decentralized renewable energy platform that converts waste into gas, liquid and solid-based energy components using a two-stage, moderate-temperature, slow-gasification process that meets all EPA, European and California air quality standards.

 

About TGI (www.tgisolar.com) is a technology holding company. TGI’s strategy is to acquire new patented or proprietary technologies, components, processes, designs and methods with commercial value that will give market advantage and generate shareholder value.

 

Ekoplaz has developed a Plasma technology based on high-frequency disruption in an electromagnetic microwave field. This technology offers significant advantages including: medical waste treatment, pesticide use and domestic industrial waste processing.

 

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2011
11.28

The Paragon Report Provides Equity Research on Clean Coal Technologies & Rentech

 

NEW YORK, NY, Nov 23, 2011 (MARKETWIRE via COMTEX) — Clean coal technologies are rapidly becoming a viable source of energy. These particular technologies could stem the environmental concerns of using coal long term and would benefit the United States immensely as the leading coal producer in the world. The Paragon Report examines investing opportunities in the Clean Energy Sector and provides equity research on Clean Coal Technologies, Inc. (PINKSHEETS: CCTC) and Rentech, Inc. (NYSE Amex: RTK). Access to the full company reports can be found at:

www.paragonreport.com/CCTC

 

www.paragonreport.com/RTK

 

Coal is the dirtiest of all fossil fuels. When burned, it releases carbon dioxide and other emissions in flue gas. Gasification avoids burning coal altogether. With integrated gasification combined cycle (IGCC) systems, steam and hot pressurized air or oxygen combine with coal in a reaction that forces carbon molecules apart. The resulting syngas, a mixture of carbon monoxide and hydrogen, is then cleaned and burned in a gas turbine to make electricity.

 

Clean Coal Technology owns a patented process technology to convert coal into a cleaner burning fuel source. This technology is a “mild gasification” process that removes moisture and volatile matters without pulverizing the coal or pelletizing it. According to the company, “the process may remove as much as 90% of chemical pollutants from coal, thereby helping to resolve emissions issues affecting coal-fired power plants all over the world.”

 

The Paragon Report provide investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the Clean Energy Sector register with us free atwww.paragonreport.com and get exclusive access to our numerous stock reports and industry newsletters.

 

Rentech has developed and patented the Fischer-Tropsch gas/coal-to-liquids technology, which uses coal, petroleum coke, or natural gas to produce diesel or jet fuel. Earlier this year Altona Energy inked a cooperation agreement for application of Rentech’s technologies in gasification of coal and biomass at its Arckaringa project located in South Australia. The company plans to initiate gasification of biomass in conjunction with the gasification of coal at the project for the production of energy products, including diesel, jet fuel, naptha and electricity.

 

The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at http://www.paragonreport.com/disclaimer

 

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2011
11.23

Legend Oil and Gas Ltd. Responds to Short Seller Articles and Provides Company Update

 

 

SEATTLE, Nov. 23, 2011 /PRNewswire via COMTEX/ — Legend Oil and Gas Ltd. (OTCBB: LOGL)

We are issuing this press release in response to two defamatory reports written by Mr. Isaac Silbermann, a short seller, relating to the management and directors of Legend Oil and Gas Ltd. These articles were published by SeekingAlpha.com and released on November 20 and November 21, 2011.

 

Mr. Silbermann admits, in both articles released by him to date, to being a short seller of Legend’s stock. It appears as though Mr. Silbermann’s intent through the generation of these inflammatory articles, is to instill investor panic and create a downward trend in the Company’s stock price. A fall in the Company’s stock price would result in personal gain for Mr. Silbermann because he is short the stock.

 

We strongly and vigorously deny the allegations made by Mr. Silbermann in his articles. Mr. Silbermann suggests that we have engaged in stock promotion activities. Specifically, Mr. Silbermann cited three advertising articles written by James Rapholz, Eric Dany, Don McShane, which were paid for by Darvin Consult SA. Neither of our officers and directors, Mr. Marshall Diamond-Goldberg and Mr. James Vandeberg, nor anyone else acting on our behalf hired or paid for any such stock promotion articles (including these three specific articles), nor do we know or have any relationship, directly or indirectly with Darvin Consult SA , James Rapholz, Eric Dany, or Don McShane.

 

Legend management has been involved with numerous companies over the past 30 years. Our officers and directors have never participated in any paid-for reports or promotional items for any companies they are currently, or have been associated with, and give no credence to Mr. Silbermann’s inferences whatsoever. Management considers all information written in Mr. Silbermann’s articles to be inferences only and believes current and future articles are written for his own personal benefit and with those he may be associated.

 

Most importantly, Mr. Silbermann fails to present information regarding the fundamentals of Legend Oil and Gas in his articles to date. Legend is executing its business plan and continues to work toward providing value for its shareholders through exploration, exploitation and acquisition in the oil and gas industry.

 

As we previously reported, on October 20, 2011, Legend closed the acquisition of producing and non-producing oil and gas assets from International Sovereign Energy Corp. (“Sovereign”). The acquisition was closed in Legend’s wholly owned subsidiary, Legend Energy Canada Ltd. Combined with the production from Legend’s US assets in the state of Kansas, total production at closing was over 300 BOE/d (barrels of oil equivalent with gas converted at 6:1). Within the next several days, we will be filing a Current Report on Form 8-K with the SEC to provide pro forma financial statement disclosures for this acquisition.

 

In support of the development and management of the Canadian assets, Legend has set up a Canadian office in Calgary, Alberta and has hired a petroleum engineer in the position of Manager of Engineering and a Controller to manage the day to day operations of these acquired assets. It is the intention of Legend to have the Canadian and US assets managed by the Calgary based staff in support of the head office in Seattle, Washington.

 

Marshall Diamond-Goldberg, President of Legend stated, “The acquisition of the Sovereign assets, coupled with the recent drilling success we have had in Kansas, moves Legend from a start-up E&P company to a functional energy company with a significant inventory of drilling opportunities, a large amount of un-developed acreage to assess for additional exploration and development, complimented by an increased staff with which to administer these and future assets. Having grown the company from zero production to over 300 BOE/d in less than one year, with the potential to increase that production significantly over the next few years, is a major positive for all Legend shareholders and demonstrates management’s commitment and ability to enhance shareholder value through organic growth rather than by promotion as suggested by the short seller’s articles, who has personal profit as the motive to knock down our stock price.”

 

About Legend Oil and Gas Ltd.

 

Legend Oil and Gas Ltd. is a managed risk, oil and gas exploration/exploitation, development and production company with activities currently focused on leases in Canada, southeastern Kansas and northern North Dakota.

 

Investor ContactBarry Gross, Investor Relationslegend@grosscapital.com361-949-4999

 

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