Force Protection Extends Agreement with South African Technology Partner

Force Protection, Inc. (OTCBB:FRPT) today announced that it has reached an agreement with MECHEM, a division of DENEL (Pty) Ltd of South Africa, to extend the term of their relationship for an additional five years effective September 13, 2006.

Force Protection, Inc. manufactures ballistic- and mine-protected vehicles through its wholly owned subsidiary. These specialty vehicles are protected against landmines, hostile fire, and Improvised Explosive Devices (IEDs, commonly referred to as roadside bombs). Force Protection's mine and ballistic protection technology is among the most advanced in the world. The vehicles are manufactured outside Charleston, S.C.

Under the agreement, MECHEM, an organization that specializes in the supply of landmine detection, de-mining, and unexploded ordnance disposal equipment and services, will continue to work exclusively with Force Protection on all projects relating to the exploitation of its technology.

"We are extremely pleased to continue this important relationship," said Force Protection CEO Gordon McGilton. "As a world leader in the field of humanitarian de-mining, MECHEM has unequaled knowledge and expertise in the detection, removal and defeat of all types of explosive devices. They will be an invaluable resource to Force Protection's expanding R&D initiatives."

Force Protection manufactures the Cougar and Buffalo mine-protected vehicles that have been deployed in Iraq and Afghanistan since 2003. Despite thousands of mine detonations and IED attacks, no fatalities have occurred in a Force Protection vehicle.

Top Stories

Conversion Solutions Holdings’ Shares Climb

on Nasdaq Listing Plans; Details Not Disclosed

Conversion Solutions Holdings Corp (CSHD) announced Thursday that it has made contact with a selected Market Maker to facilitate the Corporations application to list on NASDAQ. Shares of CSHD spiked over +100% shortly after this release, but shortly pulled back to a +60% gain. It is unclear as to which Nasdaq marketplace the company is referring to and whether CSHD currently meets the listing requirements for any Nasdaq exchange. Shares of CSHD trade on the OTCBB. Shares of CSHD were up $1.27, or more than 72%, on extremely heaving trading volume by the close of Thursday’s session.

North American Gaming and Entertainment

Announces Merger Agreement w/Xi’an Jin Chi

North American Gaming and Entertainment Corporation (NAGM) announced that it has signed a definitive agreement with Xi’an Jin Chi An Automobile Development Co. Ltd., a P.R.China Corporation and its subsidiary XI’AN JIN YUAN QI CHE CHAN YE FA ZHAN GU FEN YOU XIAN GONG SI (“XJAI”), with its principal place of business in Xi’an City, Shaanxi Province, China. Under the agreement, JINYUAN will merge with a subsidiary of NAGM and the shareholders of JINYUAN will be issued convertible preferred stock that will be converted into new common stock of NAGM representing approximately 93% of shares outstanding. NAGM has been seeking an operating company for a merger partner since the sale of its video gaming operations in 2001. Shares of NAGM closed Thursday’s session up 8c, or 200%, on heavy volume trading.

California News Tech Enters Joint

Venture Agreement W/ UDICO Holdings

California News Tech (CNTE) announced that it has entered into a joint venture agreement with UDICO Holdings, led by well-known software industry inventor, Seymour I. Rubinstein, founder of MicroPro International Corporation and developer of WordStar, the original PC-based word processing software program, as well as QuattroPro. The long-term objective of the parties is to create a new company to combine UDICO’s patented text analysis technology with Public Memory™’s issue-based, Internet research tools. The technology and related four patents that UDICO and Mr. Rubinstein would bring to the new company were developed through a capital expense said to have been around $2.5 million. By the close of Thursday’s session, shares of CNTE were up 12c, or more than 66%.

Today's Headlines

RECEIVES SIMULATOR ORDER FROM MEXICO: VirTra Systems, Inc. (VTSI) Major General Perry V. Dalby (USA-Retired), VirTra Systems’ chief executive officer, announced receipt of another IVR(R) immersive small arms training simulator order from Mexico. The simulator order included a specially modified IVR HD-300 small arms training simulator, well outfitted with accessories such as training weapon- conversion kits for handguns, shotguns, and M-16 long-rifles, support for baton training, a scenario authoring suite, and Spanish-language software support. Near-term delivery has been requested.

SHARES RALLY ON INVESTOR UPDATE ANNOUNCEMENT: Health Enhancement Products Inc (HEPI) shares, up 12%, have rallied today on the announcement that the company updated investors regarding the results of their HIV and Metabolic Syndrome Clinical Trials. Per the press release announcing the meeting, on October 2nd there will be an informal shareholder gathering with a webcast also facilitating attendance. Also of importance are the two private placements the company announced with a cost basis of 50c a share. According to those releases, $2.78M was raised through the transactions.

REVENUES CLIMB: Avatech Solutions, Inc. (AVSO) announced financial results for Q4 and fiscal year ended June 2006. AVSO reported revenue growth of 16% to $39.6 million and an increase in net income of 14% for the fiscal year 2006. Taking out last year’s one time software sale in 2005, full year revenue increased 23% and net income increased by $2.1 million. For Q4, revenue was $9.9 million vs. $8.8 million (yr-ago), and net income was nil vs 5c/shr (yr-ago). Q4 was the first quarter to include its recent acquisition of Sterling Systems, which added $1.1 million in yearly revenue and 11 professionals to the expanding staff. The Company’s CEO, Scotty Walsh, mentioned in the Q4 earnings release and conference call that AVSO continues to search for more acquisition candidates. He characterized the potential candidate to at least have a proven profitable track record, and the target’s scope would be in the annual revenue range of $5-$15 million. In the next fiscal year, AVSO expects total revenue to grow in the range of 14%- 24%, excluding future acquisitions, and sees improvement in operating margins. The CEO noted that Q4 & Q1 are seasonally the weakest, and starting now, he expects the Sterling personnel to be fully productive for FY07. The CEO confirmed in the conference call that, “Overall, our growth strategy -- aimed at transitioning Avatech to a diversified services and solutions provider -- has been very successful, and in fiscal 2007 we plan to build on the progress we have achieved to date...” “...During the coming year, we also expect to reap the benefits of an expanded and fully productive sales and technical force....” AVSO shares gapped down 9.5% at the morning bell, but during intraday trading, the stock is back to its previous close of $1.69.

TO BEGIN PHASE II TRIAL: IceWEB, Inc. (IWEB ) announced Thursday that it has entered into an agreement with Secure Computing (SCUR) to offer their entire line of network security products. IceWEB has begun an initiative to target key existing and new Federal Government customers with PKI (Public Key Infrastructure), multi-factor authentication, firewall, and secure messaging systems based around the already established IceWEB(TM) network of hosted products. Additionally, IceWEB will launch 2 Federal portals over its existing network specifically for the Federal Government:

1) FEDERALINBOX.COM - this portal will provide Government agencies with the ability to launch multiple secure Microsoft Exchange networks in a matter of hours;

2) FEDZOO.COM - this portal will provide Government agencies with the ability to order online thousands of products and services offered through various contracting vehicles. The two portals will be operational on or before the Government year end September 2007.