Cosmetic Town Is Now Connecting Patients with Qualified Cosmetic Specialists Aug 29, 2014 10:10PM

Los Angeles, CA (PRWEB) August 29, 2014

Cosmetic Town is a cosmetic beauty site that connects the industry's most notable plastic surgeons with prospective patients. The site showcases peer recommended doctors that write about cutting edge techniques in plastic and reconstructive surgery. Articles are fact checked to ensure they contain the most reliable information for general readers, who are looking to select the right cosmetic treatment.

Cosmetic Town began featuring renowned cosmetic specialists from Los Angeles, California but soon expanded its reach to other cities in California like San Francisco and San Diego. Cosmetic Town's goal has been to present the top cosmetic specialists in their respective areas.

In addition to featuring high quality articles from the nation's top doctors, Cosmetic Town presents photos and videos of results from its featured doctors that spotlight novel techniques in cosmetic treatments. Patients and doctors can also connect with each other using the site's community features and multimedia forum.

Cosmetic Town's comprehensive articles from its recommended doctors cover the full spectrum of what's trending in cosmetic treatments. The articles are written for prospective patients, who may be learning about these procedures for the first time. They are presented in a highly readable format and include information that is important to general readers, such as how to research potential doctors, and what to expect during the recovery period.

Cosmetic Town will become a primary source for finding out information about the most popular and innovative cosmetic treatments available, while providing the latest news on emerging practices that are changing the current landscape. Verified patient reviews give Cosmetic Town users even more confidence when researching potential doctors in their area. Cosmetic Town's editor explained the site's objective, "We are imposing these strict quality control standards in order to ensure that the site remains a trustworthy source for the latest cosmetic procedures and treatments."

About Cosmetic Town
Cosmetic Town is the only cosmetic industry site which authenticates both doctors and real patients. The site features doctors that have been carefully reviewed and endorsed by their peers making it easy for users to find the most qualified and highly recommended cosmetic doctors in their area. Users can also read about the latest news in plastic surgery, anti aging treatment, hair restoration, cosmetic dentistry, and facial and body modification at Cosmetic Town Journal.

Read the full story at

Matrix Reports Second Quarter Results Aug 29, 2014 10:08PM

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/29/14 -- Matrix Asset Management Inc. (the "Company" or "Matrix") reported today its financial and operating results for the six months ended June 30, 2014.

President and CEO, David Levi commented, "Addressing Matrix's working capital deficit and identifying options for the Company to address its present debt obligations and to provide liquidity options for its shareholders remains a key priority."

Selected Highlights for the Six Month period Ended June 30, 2014 - Unaudited

--  At June 30, 2014, asset under management ("AUM") were $226 million,
    compared to $232 million as at December 31, 2013 and $1.1 billion as at
    June 30, 2013.
--  Total revenue for the period ended June 30, 2014 was $3.8 million
    compared to $7.0 million during the same period last year.
--  Recurring expenses for the period ended June 30, 2014 were $5.3 million
    compared to $9.0 million during the same period last year.
--  EBITDA from continuing operations for the period ending June 30, 2014
    was $(1.5) million compared to $(2.0) million for the same period last
    year. Recurring EBITDA for the period ended June 30, 2014 was $(1.5)
    million compared to $(2.3) million during the same period last year.
--  Net loss for the six months ended June 30, 2014 was $(1.5) million
    compared to $(3.1) million for the same period last year. The Company
    recognized a net loss from continuing operations for the six months
    ended June 30, 2014 of $(1.5) million compared to net loss from
    continuing operations of $(2.3) million for the same period last year.
--  Total current liabilities of $6.9 million as at June 30, 2014 are
    scheduled for repayment over the next 12 months.
--  Working capital deficit increased during the six months ended June 30,
    2014 by $2.0 million to $4.9 million. See "Liquidity and Capital

This release should be read in conjunction with Matrix's unaudited financial statements and Management Discussion & Analysis ("MD&A") for the six months ended June 30, 2014, which are available on the SEDAR at

Subsequent Events:

Matrix management team announces that its subsidiary, Growth Works Capital Ltd. ("GWC"), on July 30, 2014 obtained an additional $362,250 ("Additional Loan") from the independent Canadian lender ("Lender") that previously extended to GWC the $5 million loan announced on September 30, 2013 and December 30, 2013 (together with the Additional Loan, the "Entire Loan"). In connection with the Additional Loan, the Chief Executive Officer of Matrix agreed to advance to the Company a $400,000 loan ("CEO Loan") on terms substantially similar to the Additional Loan.

Lender has also amended the financial covenant of the loan requires the Growth Works Capital Ltd.'s weekly working capital position to be no less than $800,000 after August 1, 2014. New minimum working capital is $250,000.

The Additional Loan matures on September 30, 2018. The Entire Loan bears an interest rate of 12% annually, payable quarterly. An annual processing fee of 6.5% of the principal amount of the Entire Loan will also be payable quarterly. A refinancing fee of $17,250 is also payable to the Lender at closing. The Lender will also receive, as partial consideration for the Entire Loan, approximately 13.1% of incentive payment amounts earned by GWC and related registrants from the venture capital funds they manage during the time of the Entire Loan and three years thereafter. Any remaining portion of the Entire Loan may be prepaid after 40% of Entire Loan has been repaid. The Entire Loan is secured by the assets of GWC and guaranteed by the assets of Matrix and certain of its non-registrant subsidiaries and personal assets of its Chief Executive Officer, including an option ("Option") granted to the Lender to acquire substantially all of the shares of GWC and certain other subsidiaries of Matrix.

The CEO Loan is expected to be advanced prior to the end of August, 2014. The CEO Loan will be advanced on terms similar to the Additional Loan, although the CEO Loan security will rank behind the Additional Loan, and no refinancing fee or incentive payment amounts will be paid to the Chief Executive Officer as a result of the CEO Loan. The CEO Loan will provide the right of the Chief Executive Officer to acquire from the Lender either or both of the Option and the Entire Loan upon certain conditions, including full repayment of the Entire Loan principal, interest and fees.

As previously announced in 2012 and 2013, Matrix also has three loans outstanding from two shareholders with an aggregate principal of $675,000. Pursuant to the terms of those loans, the lenders have elected effective the closing of the Additional Loan to have the terms of their loans amended to adopt the terms and the security of the Entire Loan, subject to approval of the Lender and subject to the shareholder loans' security ranking behind the security of the Entire Loan and without any of the additional interest and fees charged under the Entire Loan.

Corporate Overview

Matrix is a venture capital asset management company with offices in Vancouver, Toronto & Halifax. As at June 30, 2014, the Company managed approximately $226 million in assets operated through GrowthWorks Capital Ltd., which manages funds in the venture capital sector.

Summary of Financial Results for the Six Month period Ended June 30, 2014 - Unaudited

The following table sets out selected consolidated financial information about Matrix for the three and six months ended June 30, 2014 compared with financial information for Matrix for the same period in 2013.

The summary of financial results identifies expense items which are considered non-recurring. Management believes that it is important to identify non-recurring items in order to fully understand Matrix's operating results. The intent of identifying these non-recurring items is to provide greater transparency as to what the core or run-rate capacity of the business may be. This is particularly important for Matrix given that Matrix, and GWC in particular, has during prior periods: (i) executed various initiatives and incurred various expenses to grow its business by mergers and acquisitions and (ii) implemented significant restructuring measures as a result of completed mergers and acquisitions. In specific circumstances, management considers these matters to be material, and therefore important to present as supplemental information. Further information regarding non-recurring expenses is contained in Table 3 of Matrix's MD&A for the six months ended June 30, 2014.

                  For the three  For the three    For the six    For the six
                   months ended   months ended   months ended   months ended
                  June 30, 2014  June 30, 2013  June 30, 2014  June 30, 2013
                          (in $          (in $          (in $          (in $
                     thousands)     thousands)     thousands)     thousands)
Management and
 fees                     1,795          2,754          3,492          5,694
 fees                        90            223            186            493
 revenues                     0            390             86            390
Interest income               1            184              2            365
Other income               (24)             50             33             97
                          1,862          3,601          3,799          7,039
Selling, general
 administrative           2,047          3,659          4,420          7,594
 compensation                 -             56             20            113
Amortization -
 property and
 equipment                   17             53             35            110
Amortization -
 deferred sales
 commissions                114            145            152            303
Amortization -
 contracts                    -            414              -            492
  Interest                  315            210            660            400
                          2,493          4,537          5,287          9,012
Loss before
 acquisition and
 other special
 project costs
 and income
 taxes                    (629)          (936)        (1,488)        (1,974)
 acquisition and
 other special
 project costs             (12)        (1,137)            (1)        (1,224)
Loss before
 income taxes             (643)        (2,073)        (1,489)        (3,198)
Income tax
 recovery                     -        (1,164)              -          (926)
Loss from
 operations               (643)          (909)        (1,489)        (2,271)
Loss from
 operations, net
 of tax                       -          (866)              -          (784)
Net loss                  (643)        (1,775)        (1,489)      $ (3,055)

Basic and
 diluted loss
 per share from
 operations (in
 $)                      (0.01)         (0.03)         (0.03)         (0.04)
Basic and
 diluted loss
 per share from
 operations (in
 $)                      (0.00)         (0.00)         (0.00)         (0.02)

EBITDA(1)                 (195)        (1,593)          (620)        (1,780)
Add non-
 items, net(2)               12          1,211            (1)          1,224
 EBITDA(3)                (183)          (382)          (621)          (556)
Free Cash
 Flow(5)                  (261)        (1,123)          (841)          (829)

Loss before
 taxes                    (643)        (2,940)        (1,489)        (3,198)
Add non-
 items, net(2)               12          1,211            (1)          1,224
Recurring loss
 before taxes(4)          (629)        (1,729)        (1,488)        (1,974)

(a) Dividends
 declared and
 paid(7)                                     -              -              -

                                         As at          As at          As at
                                                                December 31,
                                 June 30, 2014  June 30, 2013           2013
                                         (in $          (in $          (in $
                                    thousands)     thousands)     thousands)

Cash                                     $ 143        $ 1,222        $ 1,251
Total assets                             3,611         23,286          5,303
Total long-term liabilities              6,005          9,564          6,781
Total assets under
 management(6)                         226,000      1,100,000        232,000


1.  EBITDA (defined by Matrix as earnings before interest, taxes,
    depreciation and amortization and other non-cash items) is a measure
    used by many investors to compare issuers on the basis of their ability
    to generate cash from operations. Management believes EBITDA is a useful
    supplemental measure of operating performance as it provides an
    indication as to cash available for working capital needs, capital
    expenditures and dividends.
2.  Non-recurring items are described in Matrix's MD&A for the six months
    ended June 30, 2014 posted on SEDAR.
3.  Management believes "recurring EBITDA" is a useful supplemental measure
    of operating performance because it provides readers with greater
    insight into what the core or run-rate EBITDA generating capacity of the
    business may be by adjusting EBITDA for various non-recurring items.
    Without presentation of this measure, there can be a lack of
    transparency of the effect of non-recurring revenues or expenses on
4.  Management believes "recurring income (loss) before taxes" is a useful
    supplemental measure of operating performance because it provides
    readers with greater insight into what the core or run-rate income
    before taxes generating capacity of the business may be by adjusting
    income before taxes for various non-recurring items. Without
    presentation of this measure, there can be a lack of transparency of the
    effect of non-recurring revenues or expenses on income before taxes.
5.  Management believes "Free Cash Flow" (defined by Matrix as EBITDA less
    interest paid, commissions paid and net taxes (payable/refundable as
    filed)) is a useful supplemental measure of available cash generated
    from the business' operations for working capital needs, capital
    expenditures and dividends.
6.  Assets under management or "AUM" means the fair value of the net assets
    of the funds and accounts managed by Matrix and its subsidiaries in
    respect of which fees are earned.
7.  During the six months ending June 30, 2014 no dividends were declared or
    paid. Dividends are described in Matrix's MD&A for the six months ended
    June 30, 2014 posted on SEDAR.

The unaudited condensed interim consolidated financial statements of the Company have been prepared in accordance with the International Accounting Standard 34 - Interim Financial Reporting as issued by the International Accounting Standards Board and are the responsibility of the Company's management. The Company's independent auditor has not performed a review of these financial statements.

Liquidity and Capital Resources

As at June 30, 2014, Matrix had total assets of $3.6 million, a decrease of $1.7 million from $5.3 million at December 31, 2013. During the six month period ended June 30, 2014, current assets decreased by $1.4 million while long term assets decreased $0.3 million. Total liabilities of $12.9 million as at June 30, 2014 decreased by $0.2 million compared to $13.1 million as at December 31, 2013. Current liabilities increased by $0.6 million while long term liabilities decreased by $0.8 million.

The Company requires capital for operating purposes, including funding current and long term liabilities, and current and future operations. Subsidiaries of the Company registered under securities laws must also maintain minimum levels of working capital in order to meet regulatory requirements under securities laws. If these minimum working capital requirements are not maintained, these registrations may be revoked. As a result of the term credit facility provided on September 30, 2013 and December 30, 2013, the Company believes that it has rectified its previously announced working capital deficiency but securities regulators have not finalized their review of the matter and any confirmation of that rectification is still pending. There can be no assurance that these subsidiaries will restore and maintain compliance with working capital requirements to the satisfaction of regulatory authorities and a failure to do so would have a material adverse effect on the Company's ability to operate and its financial position and future operating results.

Matrix's liquidity position and capital resources are dependent on cash flows from operations which in turn are dependent on AUM. Matrix's AUM is subject to a number of risks and uncertainties and has declined significantly with the result of the dispositions related to the SEAMARK Sale and the Marquest Transaction. Matrix's working capital position has also deteriorated significantly over the past two years. Failing to meet payment obligations, including in respect of secured indebtedness or failing to maintain compliance with working capital requirements under securities laws, may have a material adverse effect on Matrix's financial condition, operating results and ability to carry on business. See "Risk Factors" in Matrix's MD&A for the six months ended June 30, 2014.

As at June 30, 2014, Matrix had a working capital deficiency of $(4.9) million, comprised of $2.0 million current assets and $(6.9) million in current liabilities. Matrix's retained earnings deficit as at June 30, 2014 was $(32.9) million and the net loss from continuing operations for the six month period was $(0.6) million. Significant items contributing to the working capital deficit are: (1) $5.1 million in accounts payable and accrued liabilities; (2) $0.3 million of employment related obligations, primarily non-recurring lump sum payments due during the next 12 months; (3) $0.6 million in operating lease related obligations; and (4) $0.8 million for the current portion of the corporate debt.

The financial statements and MD&A were prepared on a going concern basis, which assumes that Matrix will continue to realize its assets and discharge its liabilities as they become due.

Management's cash flow forecasts indicate that the Company is expected to have resources available to continue to operate as a going concern; however the forecasts are based on a number of assumptions with respect to future cash flows and the Company's ability to re-structure $0.8 million of payments due to related parties on March 31, 2015 and obtain additional financing. There can be no assurance that Matrix will re-structure debt obligations and obtain additional financing in a manner that will allow Matrix to continue to operate. Uncertainties surrounding these assumptions may cast significant doubt on the ability of Matrix to discharge its liabilities in the normal course of business and continue to operate as a going concern. See Note 1 "Organization and Continuing Operations" in the annual audited consolidated financial statements and see Note 9 "Corporate Debt" in the interim condensed consolidated financial statements for a description of terms and security on corporate debt.

There is material uncertainty surrounding Matrix's ability to generate positive cash flows to generate savings from cost reduction programs (and as to the quantum of such savings), to re-pay, re-finance and/or re-structure debt obligations, to collect fund management fees and incentive participation dividends from managed funds with poor liquidity, to collect tax refunds and as to the outcome of regulatory reviews and filings and prospects for future transactions. See "Forward-Looking Statements". If the Company is unable to re-pay or re-finance its debt obligations, the obligations and associated security may be enforced, which would have a material adverse effect on the Company's business, financial position, and operating results and the Company's ability to continue to operate. The auditor's report in respect of Matrix's consolidated financial statements for the year ended December 31, 2013 was unqualified, however did contain and Emphasis of Matter notation with respect to Matrix's working capital deficit as at December 31, 2013, net loss for the year, and Matrix's ability to continue to operate as a going concern.

It is not possible to predict whether strategic options pursued by Matrix will result in sufficient improvements to Matrix's financial condition to allow Matrix to continue as a going concern. If the going concern assumption ceases to be appropriate, adjustments will be necessary to the carrying amounts and/or classification of Matrix's assets and liabilities. Further, a comprehensive restructuring plan could materially change the carrying amounts and classifications reported in the consolidated financial statements.

Matrix's June 30, 2014 financial statements and MD&A are available on SEDAR at

About Matrix (

Matrix is a venture capital asset management company with offices in Vancouver, Toronto & Halifax. As at June 30, 2014, the Company managed approximately $226 million in assets operated through GrowthWorks Capital Ltd., which manages funds in the venture capital sector.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements based on beliefs, assumptions and expectations of the Company and not on historical fact. Forward-looking statements are provided for the purposes of assisting the reader in understanding the Company's financial position and results of operations and to present information about management's current expectations and plans related to future periods. Readers are cautioned against placing undue reliance on forward-looking statements and that such statements may not be appropriate for other purposes. These statements may include, without limitation, statements regarding Matrix's ability to continue to operate as a going concern and meet minimum working capital and other regulatory requirements, future operations, business, financial condition, AUM, financial results, expense reductions, tax refunds, dividends and dividend policies, proposed financings, re-payment, re-financing and/or re-structuring Matrix's financial obligations, managed venture capital fund divestments, prospects, opportunities, goals, strategies, accounting policies and estimates and outlook of the Company for the current fiscal year and subsequent periods. Forward-looking statements include statements that are predictive in nature or depend upon or refer to future events or conditions.

Forward-looking statements are based upon beliefs and assumptions of management that were applied in drawing a conclusion or making an estimate, forecast or projection as reflected in the forward-looking statements, including the perception of historical trends and current conditions and beliefs and assumptions with respect to levels of AUM and related assumptions as to levels of portfolio returns and managed fund sales and redemptions, beliefs and assumptions concerning prevailing and future economic and market conditions and the impact of such conditions and other factors on Matrix's AUM, managed portfolio performance and the trading price of Matrix shares, the continuation of portfolio and fund management and advisory engagements, the extent and effectiveness of cost-saving measures and the impact of such measures and other factors on earnings, the outcome of pending and future tax filings, the outcome of litigation, the outcome of disputes on the allocation of expenses between Matrix and the Canadian Fund, the outcome of claims made to the Canadian Fund, the status of pending transactions and proposed transactions and the expected benefits from and impact of transactions on Matrix's future operations, the ability of Matrix to re-pay, re-finance or re-structure financial obligations, maintain compliance with related contractual covenants, minimum working capital and other regulatory requirements and other laws, tax rates, the outcomes of regulatory compliance reviews,

the ability of managed venture capital funds to generate liquidity, pay management fees and IPA revenues when due and satisfy secured payment obligations under financing arrangements, performance of managed venture capital investments relative to carrying values and performance fee return thresholds, the collection of trade receivables and the absence of extraordinary or one-time expenses not currently known to management. While management considers these beliefs and assumptions to be reasonable based on information currently available, these statements are subject to numerous risks and uncertainties and no assurance can be given that such beliefs and assumptions will prove to be correct. Accordingly, actual results may differ significantly from those expressed or implied by forward-looking statements due to many factors including, but not limited to, regulatory and other risks associated with venture capital fund management sector generally, market, economic, political and other risks affecting portfolio performance, interest and foreign exchange rates, levels of managed fund sales and redemptions and in turn Matrix's AUM, risks associated with tax filings and litigation, other risks affecting revenues and earnings, regulatory and other risks associated with fund and asset management activities, managed venture capital fund divestments and liquidity levels, risks associated with non-performance of financial obligations, including secured obligations, integration and continuity risks affecting completed acquisitions, changes in consumer demand for the financial products offered by the Company, Matrix's ability to respond to competition and other risks and uncertainties listed under "Risk Factors" in the MD&A for the period ended June 30, 2014 and in Matrix's Annual Information Form dated March 31, 2014, which is available on SEDAR. Many of these risks are beyond the control of Matrix.

The assumptions and risks noted in this press release are not exhaustive of the factors that may affect any of the Company's business and the forward-looking statements in this press release. Readers should consider these and other risks, uncertainties and potential events carefully and should not place undue reliance on forward-looking statements. Other than as specifically required by law, the Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which such statements are made, or to reflect new information, future unanticipated events or results or other factors.

Non-IFRS Financial Measures

"EBITDA", "recurring EBITDA", "Free Cash Flow", "recurring expenses", and "recurring income (loss) before taxes" are not measures recognized under International Financial Reporting Standards ("IFRS"). However, management of Matrix believes that most shareholders, creditors, other stakeholders and investment analysts prefer to have these measures included as reported measures of operating performance, a proxy for cash flow, and to facilitate valuation analysis. These non-IFRS measures do not have any standard meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Readers are cautioned that these non-IFRS measures are not alternatives to measures determined in accordance with IFRS and should not, on their own, be construed as indicators of performance, cash flows or profitability or measures of liquidity. These non-IFRS measures should only be read in conjunction with the financial statements of Matrix posted on SEDAR. "AUM", "working capital" and "non-recurring items" are also non-IFRS measures. AUM is the fair value of the net assets of the funds and accounts managed by Matrix and its subsidiaries in respect of which they earn fees. Working capital is determined by deducting current liabilities from current assets. For additional information regarding Matrix's use of non-IFRS measures, including reconciliations of these measures to the nearest IFRS measures, please refer to the "Non-IFRS Financial Measures" and "Non-Recurring Items, EBITDA & Free Cash Flow" sections of its MD&A available on the SEDAR website at

David Levi
President & CEO
(604) 895-7274

Source: Matrix Asset Management Inc.

Orange Coast Magazine and Five Star Professional Name Newport Beach Dentist George Maddox Top Cosmetic Dentist in Southern California for Fourth Consecutive Year Aug 29, 2014 10:01PM

(PRWEB) August 29, 2014

George Maddox, DDS, Inc. appeared as a Five Star Dentist in the March 2014 issue of Orange Coast Magazine, the premier lifestyle magazine of the region. Dr. George Maddox has continuously exceeded all of the criteria used to determine which dental practice receives this high honor. This checklist included a nomination and outpouring of praise from clients and peers, that the practice be a prominent long-standing member of the community, and it have all of the licensing and regulatory matters squared away. The standard of exceptional service they have provided to their clientele has solidified their status as Top Cosmetic Dentist in Southern California for the last four years.

"I am once again honored with the greatest compliment possible, accolades from my patients and the community. Helping people is dear to my heart. It feels good to know I am reaching my ultimate goal, to treat patients with the best dental care possible," stated Dr. Maddox

The services they offer go beyond those commonly used in typical practice. In addition to traditional dental procedures, such as crowns, bridges, veneers, inlays, and composite bonding, Dr. Maddox embraces the evolving technological breakthroughs in the field utilizing revolutionary methods. The practice offers the new treatment option of, Arestin, to treat gum disease as well as the innovate Zoom! process for teeth whitening which can brighten a smile (improving up to eight shades of white) in forty-five minutes.

With their commitment to the well-being and satisfaction of the clients he treats, Dr. Maddox has chosen to leave some older dentistry methods in the past. He does not use amalgam in favor of newer, safer composite methods.
Dr. Maddox added, "Patient health is my number one priority. As dental practices evolve, so will my practice."

Orange Coast Magazine brings together Southern California's most affluent communities through fun, smart, and timely editorial content and compelling photographs.

Dr. Maddox, DDS, Inc. is located just off of Pacific Coast Highway at 320 Superior Ave. Suite 100 in Newport, CA 92663, just South of Hoag Hospital.

Read the full story at

"A Look Into My Heart" May Be Michael Egleton's Most Sophisticated Work To Date Aug 29, 2014 10:00PM

(PRWEB) August 30, 2014

On July 16th, 2014, Michael released his 4th studio album, A Look Into My Heart, guided by the philosophy that "you have to give a piece of you to touch someone else." It should come as no surprise to anyone who knows him that this thought inspired Michael to give us a piece of him with A Look Into My Heart, a 13 track record comprised of memorable melodies as well as a wealth of insight into Michael's perspectives on issues surrounding love. From the tongue in cheek and motivating to the consoling and questioning, this album has music for everyone who's ever loved before.

Opening track "I'm Coming" will put wind in anyone's sails. Consisting of a pick-me-up, piano-based chord progression repeated throughout the song, "I'm Coming" serves as an energetic announcement for not only Michael on this album, but also for anyone who's determined to accomplish something big. It also sets a precedent for the rest of the record that does not go unmet – tight percussion, soaring choir background vocals (no doubt a result of Michael's upbringing and time writing music in the church), supporting organs, an interjecting horn section and an always-present noodling guitar riff that adds a funky flavor into the mix.

Egleton turns things down a notch in track 2, the slow and sultry "Baby Baby Baby." It's once more a great example of the musicianship and production talent present on this album--Wes McCraw of Creekside Studio and Samuel Haygood of N-DA-Grove Productions manned the board--as all voices dance around one another to eventually form an intricate mosaic of sound. "Baby…" is bluesier than "I'm Coming", both instrumentally and lyrically, as Egleton pines for the object of his desire to return his attention. Lines like "Can't you see I need you / All I want to do is please you / Please here my cry / Some times I feel like I could die" are adorned with slick guitar and piano solos that take over when words simply aren't enough.

"Like My Girl" is the first instance of a guest background vocalist on the album as singer Greg Rollins and Egleton trade fantasies about a dream girl each wants to make a wife. Musically, it's brighter than "Baby" but still laid back and groovy. The piece is centered on a catchy plucked strings riff, placed in such a way that it's as if it's leaving its two cents after every vocal line.

Given its title, it should come as no surprise that things get cheeky in track four, "Donk a Donk." The sounds are no less suggestive than the title, and if there was any question remaining as to the song's subject matter, guest rapper Samuel Haygood puts them to rest with rhymes like "she got what I want / back that up like a tonka truck."

The album re-enters Egleton's traditional territory with "Back Into My Heart", a sunny mid-pace track that features an adventurous harmonica and a busy percussion section. All of these moving parts work together to provide the sonic canvas for Egleton to sing about letting a woman back into his heart after a dry spell caused by a fight. Title track "Take a Look into my Heart" comes next, bringing with it a tropical atmosphere featuring minimal percussion, a smooth acoustic strum pattern and a bed of horns as Michael reminds us of the importance of looking into your significant other's heart to unlock the true potential of your love.

If "It's Over" had a cousin, it would likely be "Why Does It Hurt So Bad". Whereas "It's Over" sent a message of resolved, "Why Does It Hurt So Bad" sees Michael questioning why the pain of a breakup is so severe and begging for his partner to stay and give him another shot. Still, the music here is not minor by any stretch of the imagination, further adding to the feeling of warmth and resolve that Michael's music constantly emits.

The feel good vibe lumbers forward in the instrumental "Orchid Trauma", a funky 5 minute track with an elaborate and pronounced bass line, not to mention a family of riffs and solos across different instruments that play off one another. An instrumental version of "Donk a Donk" follows "Orchid Trauma", and then we're greeted with the most menacing track on the record, "Playing a Game." Egleton couldn't let the whole album pass without one mention of the unspoken "game" that takes place in the dating arena.

A Look Into My Heart closes out with two songs that could not be more different from "Playing a Game". "You and I" is an instrumental love story, piano and guitar each singing their own songs in the form of solos and then wedding near the end to play together harmoniously. "Hold On To A Song" is the purest gospel tune on the record, consisting of nothing but soulful piano chords and deep, wise and mighty vocals from Michael and his backing cast. Life gets tough, we all know that, and it's these kind of songs that can pick anyone up and make them feel no less than blessed to be alive. When you're down, hold onto a song and the power of music will see you through. Or as Michael puts it, "Until I get a little stronger, I hold onto a song."

The album is a powerhouse from start to finish, and even looks great, too. In an age where album artwork has become an afterthought due to its digitization, A Look Into My Heart comes packaged in a sleeve with a crisp orange and black design, the best part of which is Michael's picture on the cover. A mirrored image of two Michaels sitting next to each other in an identical pose, Egleton appears as if he's contemplating something deep, possibly even looking into his heart and inviting listeners to do the same.

Publicist: Blue Artists

Read the full story at

Rooster Energy Ltd. Announces Second Quarter 2014 Financial and Operating Results and Provides Update on Debt Financing Aug 29, 2014 10:00PM

CALGARY, ALBERTA -- (Marketwired) -- 08/29/14 -- ROOSTER ENERGY LTD. (the "Company") ( (TSX VENTURE: COQ) is pleased to announce that it has filed on SEDAR its unaudited interim financial statements, and related management discussion and analysis ("MD&A") for the three months ended June 30, 2014 ("Q2 2014"). Selected financial and operational information for Q1 2014 and subsequent thereto is contained in the below summary and should be read in conjunction with the financial statements and related MD&A.

Robert P. Murphy, President & Chief Executive Officer, comments that "production volumes in Q2 2014 averaged 1,310 barrels of oil equivalent per day ('BOEPD'), compared to 1,208 BOEPD in Q1 2014. During the second quarter, the Company resumed production of our wells at High Island 141 and installed compression at Grand Isle 70, which led to the sequential increase in production. The Company generated EBITDAX of $3.3 million in Q2 2014, compared to $3.8 million in Q1 2014.

"In July, 2014, the Company announced its intention to commence a private offering of US$100 million of senior secured notes. We have received considerable interest in the offering and anticipate finalizing terms of a financing in the next 30 days. Proceeds from a financing, combined with the proposed new revolving credit facility, will enable Rooster to execute on its 2014-2015 drilling and recompletion program. Concurrent with the closing of the proposed financing and revolving credit facility, we intend to consummate the acquisitions of Cochon Properties, LLC ('Cochon') and Morrison Well Services, LLC ('Well Services') previously approved by shareholders. The acquisition of Cochon and Well Services will create a vertically- integrated 'cradle to grave' oil and gas operator that enables us to continue our strategy of near infrastructure exploration and development with the added ability to dismantle the infrastructure in a safe, timely and cost efficient manner."


                     For the three months ended    For the six months ended
                                       June 30,                    June 30,
                             2014          2013          2014          2013
  Oil (Bbl)                61,640        76,498       119,952       151,063
  NGL (Bbl)                 5,263         8,816        10,564        18,691
  Natural gas (Mcf)       313,772       752,227       584,318     1,698,390
  Total (BOE/day)
   (a)                      1,310         2,315         1,259         2,502

Revenue              $  7,877,628  $ 10,731,229  $ 15,571,769  $ 22,289,783
Total costs and
 expenses               6,377,426     7,103,388    11,408,336    19,008,695
Operating income
 (loss)                 1,500,202     3,627,841     4,163,433     3,281,088
  Unrealized gain
   (loss) on
   warrants            (1,038,000)   (1,515,000)     (287,000)   (1,464,000)
  Finance expenses
   (b)                 (3,518,414)   (1,295,045)   (5,230,963)   (2,564,765)
Income (loss) before
 tax expense           (3,056,212)      817,796    (1,354,530)     (747,677)
  Deferred tax
   (recovery)            (312,000)      759,000       304,000       (85,000)
Income (loss)          (2,744,212)       58,796    (1,658,530)     (662,677)

Income (loss) per
  Basic                     (0.03)         0.00         (0.02)        (0.01)
  Diluted                   (0.03)         0.00         (0.02)        (0.01)

Capital expenditures $    573,844  $  9,677,716  $  2,562,337  $  9,920,031

EBITDAX (c)          $  3,319,191  $  6,186,928  $  7,083,126  $ 13,171,150

(a)  Gas volumes are converted to BOE on the basis of 6 Mcfe per 1 barrel.
(b)  Finance expense includes accretion for asset retirement obligations.
(c)  EBITDAX is a non-IFRS measure commonly used in the oil and gas
     industry. Such measures do not conform to IFRS and may not be
     comparable to those reported by other companies nor should they be
     viewed as an alternative to other measures of financial performance
     calculated in accordance with IFRS. The company defines EBITDAX as net
     income before finance expense, taxes, depreciation, amortization,
     accretion, exploration and evaluation, bad debt, impairments, stock-
     based compensation, and the non-cash portion of plug and abandonment

Extension of Membership Interest Contribution Agreements

On March 7, 2014, the Company announced that it entered into two separate Membership Interest Contribution Agreements to acquire all of the ownership of Morrison Well Services, LLC ("Well Services") and Cochon Properties, LLC ("Cochon") which acquisitions were subsequently approved by the shareholders on May 16, 2014. The Company previously entered into agreements with the members of Cochon and Well Services to extend the time to close its acquisitions of Well Services and Cochon from July 7, 2014 until August 15, 2014. The Company is pleased to announce that it has entered into subsequent agreements to extend the time to close its acquisitions of Well Services and Cochon until September 30, 2014. It is expected that the acquisitions will close on or about the same time as the financing but the acquisitions are not conditioned upon the financing.

Extension of Limited Consent

In order to enter into the membership interest contribution agreements for Well Services and Cochon, the Company obtained the consent of the holders of its current first priority secured notes in the amount of US$22.5 million pursuant to a limited consent and forbearance agreement dated March 7, 2014 (the "Limited Consent"). Therein, the holders of the notes and the Company acknowledged that at the end of fourth quarter of 2013, the Company was in existing and continuing default of the collateral coverage ratio covenant of the notes (the "Specified Default") and in order to allow for the acquisition of Cochon and Well Services, the Limited Consent provided that, the holders of the notes will forbear from exercising certain rights and remedies under its loan agreements in respect of the Specified Default until, among other things, payment in full of the obligations owed by the Company to the holders or July 7, 2014. The Company entered into a first amended Limited Consent agreement with the holders extending from July 7, 2014 to August 31, 2014 the date of the Limited Consent. On August 29, 2014, the Company entered into a second amended Limited Consent agreement with the holders of the notes extending the termination date of the Limited Consent to September 30, 2014.


Rooster Energy Ltd. is a Houston, Texas, USA, based independent oil and natural gas exploration and production company focused on the development of resources in the shallow waters of the Gulf of Mexico. At June 30, 2014, our primary assets consist of interests in 22 producing oil and/or natural gas wells and 15 federal leases or blocks. The Company is the operator of the majority of its properties and daily oil and gas production.

Investors are welcome to visit our website at

Forward-Looking Information and Statements

Certain statements and information in this press release may constitute "forward-looking information" or statements as such terms are used in applicable Canadian securities laws. Any statement that expresses, involves or includes expectations of future operations (including drill rig commitments and use of proceeds), commerciality of any hydrocarbon discovered, production rates, operating costs, commodity prices, administrative costs, commodity price risk and other components of cash flow and earnings, management activity, acquisitions and dispositions, capital spending, access to credit facilities taxes, regulatory changes, projections, objective, assumptions or future events that are not statements of historical fact should be viewed as "forward-looking statements". Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. These risks include, but are not limited to, the risks associated with the oil and gas industry, commodity prices, and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated with the uncertainty of reserve estimates, or reservoir performance, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on any forward-looking statement in this press release. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

Financial outlook information contained in this press release about the Company's prospective cash flows and financial position is based on assumptions about future events, including economic conditions and proposed courses of action, based on management's assessment of the relevant information currently available. Readers are cautioned that any such financial outlook information contained herein should not be used for purposes other than for which it is disclosed herein.

Note Regarding BOEs

The term barrel of oil equivalent ("boe") may be misleading, particularly if used in isolation. A conversion ratio for gas of 6 mcf:1 boe is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly equivalency conversion ratio of 6:1, utilizing a conversion on a 6:1 basis is misleading as an indication of value.


Rooster Petroleum, LLC
Gary Nuschler, Jr.
Vice President-Finance
(832) 463-0625

Source: Rooster Energy Ltd.

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