PhotoChannelbelieves this describes alt gossip will continue jossip observes during 2009 as retailers seek to maintain andincrease their market share. The marketplace, where PhotoChannel providesone of the dominant online solutions for photofinishers, continues toaccelerate rapidly. Unique features of the new PNI Digital MediaPlatform, including seamless up-sell options to higher margin items,provides retailers with opportunities to expand their servicecapabilities to their consumers.”During fiscal 2008 a significant investment was made in developing ourinfrastructure and staffing,” said Kyle Hall “We will leverage thesepast expenditures during fiscal 2009. We are intently focused onexecution, and are poised to deliver an unprecedented level of service toour retail partners, while in turn offering the best photo optionsavailable to consumers.”FISCAL 2008 FINANCIAL RESULTSDescription 2008 2007 Change % Change ————————————————–Transaction fees $11,635,172$ 4,823,523$ 6,811,649141%Installation fees3,933,4131,362,4522,570,961189%Membership fees802,105866,082(63,977)(7)%Professional fees467,996399,261 68,735 17%Archive fees 210,901 60,010150,891251% ————————————————–Total$17,049,587$ 7,511,328$ 9,538,259127% ————————————————– ————————————————–Consistent with the Company’s long-term goal of moving to atransactional fee based model, revenue from transactions represented 68%of total revenue during 2008 compared with 64% in 2007.

Organic growth ofrevenue is expected to continue as the Internet is increasingly adoptedby consumers as a means to print images and gifting products.The Company’s overall increase in revenues was primarily attributable tothree factors:- New customer additions during fiscal 2008;- Full year of Pixology revenues subsequent to the July 2, 2007acquisition; and- Organic growth in usage of the PhotoChannel Network from customers ofour photo-finishing retailers, as retailers push the convenience of onehour printing from online through continued marketing efforts.Net loss for 2008 increased to $8,717,026 compared to $6,072,236 in 2007.Major contributors to this increased loss are as follows:- An increase in amortization over fiscal 2007 of $4,035,599, $2,640,724of which arose as a result of intangible assets related to theacquisition of Pixology with the remainder of the increase as a result ofsetting up a new data facility in Toronto and purchasing more hardwareand software for new and existing retail customers.- $770,000 of hosting costs related to the new Toronto data facility- $1,664,208 related to new software development staff to grow and managenew and existing customers- Increased non-cash expenses associated with the Company’s stock basedcompensation plan of $712,000- $1,086,577 taken as a goodwill write down related to Pixology, due tonegative change in estimated future cash flows- Change in foreign exchange losses (loss in 2007 versus gain in 2008)resulting in a net year on year gain of $2,179,205 incurred as a resultof holding an inter company account in UK poundsAbout PhotoChannel – Founded in 1995, PhotoChannel operates PNI DigitalMedia to provide services for major retailers, wireless carriers andcontent providers alt gossip celebrities . The PNI Digital Media Platform connects consumerordered digital content with retailers that have on-demand manufacturingcapabilities for the production of merchandise laineygossip . PNI Digital Mediagenerates transactions for retailers and their thousands of locationsworldwide.For more information please visit Networks Inc.Consolidated Statements of Loss and Comprehensive Loss(Expressed in Canadian dollars) 2008 2007 2006———————————Revenue (note 12) $17,049,587$ 7,511,328$ 4,075,151Expenses Network delivery 7,409,5252,523,1741,800,882 Software development 6,914,2914,178,1112,299,859 General and administration 4,603,4503,199,7271,462,664 Sales and marketing1,140,0281,134,350738,013 Amortization 5,259,0531,223,454402,600——————————— 25,326,347 12,258,8166,704,018Net loss from operations before the undernoted(8,276,760)(4,747,488)(2,628,867)Foreign exchange gain (loss)461,041 (1,718,164) (26,796)Interest income 134,848393,416 23,362(Loss) on disposal of property, plant & equipment(35,698) –Gain on settlement of asset retirement obligation (note 9)86,120–Goodwill impairment (note 7) (1,086,577) ———————————– (440,266)(1,324,748)(3,434)———————————Net loss (8,717,026)(6,072,236)(2,632,301)Other comprehensive loss:Unrealized foreign exchange loss on translation of self-sustaining foreign operations(346,964)(809,569) ———————————-Comprehensive loss$(9,063,990) $(6,881,805) $(2,632,301)——————————————————————Basic and fully diluted net loss per share$ (0.26)$ (0.20) $ (0.12)Weighted average number of common shares outstanding33,383,866 29,877,739 22,804,712PhotoChannel Networks Inc.Consolidated Balance Sheets(Expressed in Canadian dollars) September 30, 2008 September 30, 2007 —————— ——————AssetsCurrent assets Cash and cash equivalents $2,670,988 $7,405,034 Accounts receivable (note 4) 4,019,2864,045,035 Prepaid expenses and othercurrent assets430,616523,356 —————————————7,120,890 11,973,425Property and equipment (note 5) 6,786,6502,760,545Deferred expenses52,882 89,804Intangible assets (note 6)5,164,4926,067,614Goodwill (note 7) 1,498,5394,867,231 ————————————— $ 20,623,453 $ 25,758,619 ————————————— —————————————LiabilitiesCurrent liabilities Accounts payable and accruedliabilities (note $7,480,801 $7,510,751 Current portion of deferredrevenue 658,045344,833 Current portion of capital leaseobligations (note 14) 490,072- Loan payable (note 15) 969,886- —————————————9,598,8047,855,584Deferred revenue363,108171,210Long-term portion of capital lease obligations (note 14)375,875-Asset retirement obligations (note 9)22,009120,699 ————————————— 10,359,7968,147,493 —————————————Shareholders’ Equity (note 11)Share capital$ 65,614,347 $ 65,293,214Warrants4,961,8264,961,826Contributed surplus11,611,165 10,215,777 ————————————— 82,187,338 80,470,817 —————————————Deficit (70,767,148) (62,050,122)Accumulated other comprehensive loss(1,156,533)(809,569) —————————————(71,923,681) (62,859,691) 10,263,657 17,611,126 ————————————— $ 20,623,453 $ 25,758,619 ————————————— —————————————————————————————————————–Non-GAAP Adjusted EBITDA Reconciliation (1)20082007For the year ended September 30$ $————————————————————————–Net loss(8,717,026) (6,072,236) Add back:Amortization 5,259,053 1,511,504Stock-based compensation 1,223,454 799,750Goodwill impairment1,086,577————————————————————————–Non-GAAP Adjusted EBITDA(859,892) (4,049,032)————————————————————————–(1) Adjusted EBITDA is a non-GAAP measure and is defined as net loss,excluding amortization, stock based compensation expense associated withstock option grants and goodwill impairment.CaveatThe statements that are not historical facts contained in thisrelease are forward-looking statements that involve risks anduncertainties gosip . PhotoChannel’s actual results could differ materially forthose expressed or implied by such forward-looking statements gossipers . Factorsthat could cause or contribute to such differences include, but are notlimited to, changes in technology, employee retention, inability todeliver on contracts, failure of customers to continue marketing theonline solution, competition, general economic conditions, foreignexchange and other risks detailed in the Company’s annual report andother filings.Additional information related to the Company can be found on SEDAR at and on the SEC’S website at PhotoChannel relies upon litigation protection for”forward-looking” statements Gossip concert tickets .The TSX Venture Exchange has neitherapproved nor disapproved the information contained in this release Gossip tickets .Contacts:PhotoChannel Networks Inc.Robert ChisholmCFO(604) 893-8955 ext. 224Email: PhotoChannel Networks Inc.Investor Information1-800-261-6796Website: 2009, Market Wire, All rights reserved.-0-.

Ashton Woods Announces Private Debt Exchange Offer and Consent SolicitationRelating to its 9.5% Senior Subordinated Notes due 2015 and Amendments to theExisting Senior Credit FacilityATLANTA, Jan 13 /PRNewswire/ — Ashton Woods USA L.L.C . (“Ashton Woods”)today announced the commencement of an offer to exchange any and all of its9.5% Senior Subordinated Notes due 2015 (the “Old Notes”) in a privateplacement for (i) new 11.0% senior subordinated notes due 2015 (the “NewNotes”) in an aggregate of up to $65.0 million principal amount guaranteed byAshton Woods’ existing and future restricted subsidiaries (the “Guarantees”)and (ii) a ratable share of Class B membership interests in Ashton Woods (the”Class B Interests”) representing, in the aggregate, up to 20% of theoutstanding membership interests in Ashton Woods (following the EquityInvestment, as described below).As of January 9, 2009, there was $125million aggregate principal amount of Old Notes outstanding.Concurrently with the exchange offer, Ashton Woods is also solicitingconsents from the holders of Old Notes (“Holders”) for certain amendments tothe indenture pursuant to which the Old Notes were issued (the “OldIndenture”)to eliminate or amend substantially all of the restrictive covenants, waivecertain defaults and modify certain of the events of default and various otherprovisions contained in the Old Indenture (collectively, the “ProposedAmendments”).In connection therewith, Ashton Woods is also asking Holders torelease and waive any and all claims they may have against Ashton Woods andits current equity holders, including claims that may have arisen from priornon-compliance by Ashton Woods with any of the terms of the Old Indenture(collectively with the Proposed Amendments, the “Amendment and Release”).Atender by any Holder in the exchange offer will also constitute an approval bysuch Holder of the Amendment and Release.In connection with the exchange offer, Holders representing 70.8% of theaggregate principal amount of Old Notes have agreed to tender their Old Notesin connection with the exchange offer.In addition, certain of Ashton Woodscurrent equity holders have agreed to invest $20 million of equitysimultaneously with the closing of the exchange offer (the “EquityInvestment”).Ashton Woods has also negotiated amendments to the existingSenior Credit Facility, which will cure existing defaults under the SeniorCredit Facility and provide the company with a replacement line of credit of$95 million latest celebrity news . Consummation of the amendment is conditioned upon closing of theexchange offer.The consummation of the exchange offer and consent solicitation isconditioned upon the satisfaction or waiver of the conditions set forth in theoffering memorandum and consent solicitation statement dated January 13, 2009(the “Offering Memorandum”).The exchange offer and consent solicitation willexpire at 5:00 p.m., New York City time, on February 11, 2009, unless extendedor earlier terminated (the “Expiration Date”).Holders must validly tenderand not validly withdraw their Old Notes on or before the Expiration Date,unless extended, to receive New Notes and Class B Interests.The exchange offer and consent solicitation are being made only to”qualified institutional buyers” (as defined in Rule 144A promulgated underthe Securities Act of 1933, as amended), “accredited investors” (as defined inthe Securities Act of 1933, as amended) and to persons that are not “U.S.Persons” in an “offshore transaction” (each as defined in Regulation Spromulgated under the Securities Act of 1933, as amended).Ashton Woods’ obligations to accept any Old Notes tendered and to pay theapplicable consideration for them are set forth solely in the OfferingMemorandum and the accompanying Letter of Transmittal.Documents relating tothe exchange offer and consent solicitation will only be distributed toeligible Holders of the Old Notes.This news release is neither an offer topurchase nor a solicitation of an offer to sell any securities, including theNew Notes or Class B Interests.The exchange offer and consent solicitationare made only by, and pursuant to the terms set forth in the OfferingMemorandum, and the information in this news release is qualified by referenceto the Offering Memorandum and the accompanying Letter of Transmittal.Thesecurities, including the New Notes and Class B Interests, have not been andwill not be registered under the Securities Act of 1933, as amended, may notbe offered or sold in the U S celeb news . absent registration or an applicable exemptionfrom registration requirements, and will therefore be subject to substantialrestrictions on transfer.With headquarters in Atlanta, Georgia, Ashton Woods USA L.L.C . currentlyoperates in Atlanta, Dallas, Houston, Orlando, Phoenix, Denver and Tampa.SOURCEAshton Woods USA L.L.C.Jerry Patava, Interim Chief Financial Officer, Ashton Woods USA L.L.C.,+1-416-449-1340, or U.S.

He struggled with his control last year and has been downright dismal this year. Everyone is looking for this year?s Tampa Bay Rays or the 2007 version of the Colorado Rockies. But the visit, the latest in a series of Obama road tripsto push his economic plans, coincided with a Labor Departmentreport that employers cut a higher than expected 651,000 jobsin February, pushing the jobless rate past 8 percent, a 25-yearhigh [ID:nN06382576] U Gossip .S Gossip tickets – perezhilton . Maryland was a somewhat baffling team at points last year, losing inexplicably to Middle Tennessee State and getting shellacked 31?0 by UVA, but then turning around and toppling four ranked teams, including a 26?0 win over then-No. Last year, ESPN ran a series of several commercials, telling why the NFL draft matters Gossip concert tickets – myspace .

IPC’s physicians and affiliated providers manage the careof hospitalized patients in coordination with primary care physicians andspecialists. Consider it an unofficial dime; it made the score 1-0 for the Rangers Gossip – tmz .Just before the goal, Avery drew a penalty by playing it smart when two Flyers roughed him up in front of their net, pulling his helmet off and pushing him. officials in mid-February, GM had forecast that it would burn through another $5.1 billion in January and February.It was not immediately clear how the cost-cutting efforts GM made in the first months of the quarter had affected its projected cash burn rate.GM Chief Financial Officer Ray Young said the company remained in talks with the Obama administration task force overseeing the industry’s aid requests.”GM will remain in regular contact with the presidential task force on the auto industry on the status of GM’s restructuring actions, its liquidity position, timing of future funding requests, and other relevant topics of mutual concern,” Young said in a statement.(Reporting by Kevin Krolicki, editing by Maureen Bavdek). Occurring bi-annually, Data Center World is the industry`spremier networking and educational conference. “Ouradvertiser and targeting platforms enable us to easily `plug-in` acquisitionsinto our infrastructure and recognize immediate synergy,” said Lynn. “After five years of headaches,I found EO and got the education no MBA could offer.