Points International Ltd. is the owner and operator of Points.com, the world's leading reward program management Web site which was recently named one of the 30 Best Travel Sites by Kiplinger's. At Points.com consumers can Swap, Earn, Buy, Gift, Share and Redeem miles and points from more than 25 of the world's leading reward programs. Participating programs include American Airlines AAdvantage program, Aeroplan , AsiaMiles(TM), British Airways Executive Club, Wyndham Rewards , Delta SkyMiles and InterContinental Hotels Group's Priority Club Rewards. Redemption partners include Amazon.com and Starbucks. PTSEF News Yesterday, Points announced results for the fourth quarter and full year ended December 31, 2008. Total revenue was a record $21.7 million for the fourth quarter of 2008. Points grew revenue 49% over the $14.5 million reported in the fourth quarter of 2007, and over the $20.4 million reported in the third quarter of 2008. Principal revenue, a key financial indicator for the Company, rose sharply both year over year and sequentially. For the fourth quarter of 2008, principal revenue totaled $19.7 million, an increase of 71% over $11.5 million in the same period last year, and up from $18.3 million in the third quarter of 2008. Commission revenue was $1.8 million, down from $2.7 million reported in the same period of last year and $1.9 million in the third quarter of 2008. Interest revenue was $216,000, a decrease from $261,000 reported in the same period last year and up slightly from $208,000 in the third quarter of 2008. Fourth quarter results include non-cash, non-recurring charges of $1.3 million related to the impairment of long-lived assets. These charges include terminating certain patent applications not supported by the Company's long-term strategy, a write-down of the remaining carrying value of an intangible asset associated with a 2004 acquisition and an accelerated write-down of certain technology assets. Points reported a net loss for the fourth quarter of 2008 of $3.0 million, or ($0.02) per share, which included the $1.3 million impairment charge of long-lived assets and approximately $1.4 million of foreign exchange related charges. Without these charges, the Company would have had a net loss of approximately $330,000. This compares to a net loss of $953,891, or ($0.01) per share in the same period in the previous year, and a net loss of $1.4 million or ($0.01) per share, in the third quarter of 2008. Omnicity Corp (OTCBB: OMCY | Quote | Chart | News | PowerRating) Shares traded up 6.78% at $0.63 Omnicity Corp is a public company based in Indiana providing broadband access, including advanced services of voice, video and data, in un-served and underserved small and rural markets and is planning to be the premier consolidator of rural market broadband nationwide. Omnicity's strategy is to provide a total broadband solution and continue rapid growth through acquisitions, organic growth and continue to partner with Rural Electric Municipal Cooperatives and Rural Telephone Companies. Omnicity has an experienced management team with extensive wireless broadband/ISP expertise as well as the expertise to consolidate large numbers of businesses through its roll-up strategy. OMCY News Yesterday, announced the acquisition of Indiana's fastest growing WISP, NDWave. The acquisition of NDWave represents the first of several acquisitions that Omnicity plans to complete by the summer of 2009. NDWave adds 1,450 customers to Omnicity's subscriber base in rural north central Indiana and brings coverage into another 34 rural counties in the Midwest. NDWave CEO Steve Narducci said, "The joining of our two companies will add significant reliability and redundancy to both of our networks allowing us to service even more rural communities and bring choices to our customers." Steve Narducci will serve as our VP of Field Services. NDWave began offering WISP services in 2006 and has been the fastest growing WISP in Indiana. The strategic addition of NDWave is expected to bring rapid expansion and upgrades to the existing network while giving Omnicity the opportunity to grow the network into all of rural Indiana while continuing its growth in the Midwest and nationally. Littlefield Corp. (OTCBB: LTFD | Quote | Chart | News | PowerRating) Shares traded up 1.82% at $0.28 Littlefield Corporation develops, owns, and operates charitable bingo halls in the United States. 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It was formerly known as American Bingo and Gaming Corp. and changed its name to Littlefield Corporation in 2000. Littlefield Corporation is headquartered in Austin, Texas. LTFD News Yesterday, Littlefield announced earnings for the fourth quarter and full year of 2008. The Company operated at approximately breakeven excluding the significant unfavorable impact on earnings of fourth quarter charges associated with a write-down of the carrying value of goodwill and other assets in addition to certain contract termination costs, renovations, re-openings and the start-up of new halls in Texas and ongoing legal expenses. The goodwill impairment stems from the Company's normal annual review of goodwill and other intangible assets in light of actual financial performance and changed economic conditions and certain specific underperforming bingo hall closures. The contract termination costs are associated with certain underperforming bingo hall closures. Modavox Inc. (OTCBB: MDVX | Quote | Chart | News | PowerRating) Shares traded down 5.14% at 1.66 Modavox, Inc., the customized communications company, is a pioneer in Internet broadcasting, producing and syndicating online audio and video, offering innovative, effective, and comprehensive online tools for reaching targeted niche communities worldwide. Through patented Modavox technology, Modavox delivers content straight to desktops and Internet-enabled devices. Modavox provides managed access for live and on-demand Internet radio broadcasting, e-learning and rich media advertising. MDVX News Yesterday, Modavox announced that the Company has named Shelly J. Meyers as Chairwoman of its board of directors. David J. Ide, Modavox Chief Executive Officer stated, "We were pleased when Shelly joined our board back in November. To have her now accept the Chairwoman role gives us further cause for optimism. Anyone who reads Shelly's list of accomplishments will immediately know why we are thrilled to have her taking a more active role with the board. Her intelligence, experience, track record of success and network of contacts are all assets we believe will materially enhance our ability to further build shareholder value. Shelly J. Meyers (MBA, CPA) comes to Modavox with over 20 years of financial and investment experience. She is Founder and President of Palisades Management LLC, a Registered Investor Advisor (RIA) that provides investment management services to high net worth individuals and institutions. The Firm also provides strategic advisory services to corporations pertaining to corporate finance and capital market activities. Prior to founding Palisades Management, Ms. Meyers served as Executive Vice President for Pacific Global Investment Management Company (PGIMC), where she played an integral role in launching PGIMC's high net worth management business, merging the separately managed account business of Meyers Capital Management (MCM) into PGIMC in mid-2003. While at PGIMC, the Firm's high net worth business grew from less than $1,000,000 to approximately $100,000,000. Ms. Meyers also managed the Pacific Advisor Funds' Multi-Cap Value Fund from inception (April 2002) to a five year record that beat the S&P 500 on an annualized basis, and which ranked the Fund in the top 10% in its five year Morningstar peer group. Salon City Inc. (OTCBB: SALN | Quote | Chart | News | PowerRating) Shares stayed steady at $0.05 Salon City, Inc., is an emerging media company, lifestyle brand and independent marketing network for products, distribution and services. Salon City was the first to brand the genre, 'Beauty Entertainment.' It publishes its flagship consumer publication, Salon City magazine, and produces the award-winning web show, Hollywood CeleBeauty, online media, licensed events and awards shows. SALN News Yesterday, Salon City announced that Steven Casciola, co-founder of Salon City, Inc. interviewed Orlando Pita, New York City's celebrity hairdresser, for Salon City's Beautymaker magazine. Born in Cuba, Pita began working as a hairstylist in the fashion industry in the early 1980s. He cut and styled the famous and beautiful for magazines like Vogue, W, and Harper's Bazaar, but his reputation was really made on the runway, thanks to his sculpted styles for Versace, Christian Dior, Dolce & Gabbana, Valentino, Michael Kors, and Narciso Rodriguez. In January 2005, Pita opened his own salon in the meatpacking district, naming it after his nickname, Orlo. At $800, a haircut by Pita was once the city's most expensive, topping Sally Hershberger's notoriously pricey cut by $200; it comes with a 15-minute head massage, too, in case you're wondering (Hershberger has since matched Pita). Despite Pita's hefty prices, he still boasts a months-long waiting list. Naturally, Pita's boldfaced clients don't have to worry about waiting -- or paying -- for their cuts. His celeb client list includes Madonna, Gwyneth Paltrow, Julianne Moore, Julia Roberts, Jennifer Connelly, and Naomi Campbell. China America Holdings, Inc. (OTCBB: CAAH | Quote | Chart | News | PowerRating) Shares traded down 3.57% at $0.027 China America Holdings, Inc. owns a 56% stake in Shanghai Aohong Chemical Co., Ltd. based in Shanghai, China. Shanghai Aohong is a distributor of assorted liquid coolants which are utilized in a variety of applications, primarily as refrigerants in air conditioning systems for automobiles, residential and commercial air conditioning systems, and a manufacturer of steel non-refillable cylinders. CAAH News Yesterday, China America Holdings announced that its 56% owned subsidiary Shanghai Aohong Chemical Co., Ltd., an international distributor of assorted liquid coolants, hydro fluorocarbon refrigerants, has signed a supplier agreement with Shanghai 3F New Material Co. Ltd. to supply R22 liquid coolants for delivery throughout 2009. Established in 1960, Shanghai 3F New Material Co. Ltd. ("Shanghai 3F") is engaged in the manufacture and distribution of organic fluorine materials in China and throughout the world. Shanghai 3F generated approximately $350 million U.S. in revenue in 2007 and has built the only organic fluorine materials research and development facility in China. China America sells its refrigerant products utilized in a variety of applications, primarily as coolants in automobiles, residential and commercial air conditioning systems, refrigerators, fire extinguishing agents and assorted aerosol sprays. Our major customers include automobile manufacturers, as well as bulk coolant distributors in China. We are focused on providing environmental friendly products worldwide. China America CEO Shaoyin Wang stated, "We are extremely pleased to sign this supplier agreement, and look forward to our business relationship with Shanghai 3F. We believe an agreement of this size will positively impact our top and bottom line performance in 2009 and we look forward to building on this relationship with Shanghai 3F in the coming years."
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