NearU Search has closed a deal with a sports content provider and is sending Men's Division I College Basketball updates via SMS … [more]

NearU Search has closed a deal with a sports content provider and is sending Men's Division I College Basketball updates via SMS to basketball fans who follow the March tournament games. The college tournament is the second biggest sports gambling event in the United States every year. Viewership for the 2007 Championship game topped 40MM. Going forward, NearU Search sports coverage will include European football, American football, baseball, basketball and hockey.
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NearU Search has inked a deal with Arts Weekly Aquarian and East Coast Rocker. … [more]

NearU Search has inked a deal with Arts Weekly Aquarian and East Coast Rocker. Arts Weekly publishes the preeminent music magazines for the New York and New Jersey markets. Aquarian and East Cost Rocker boast a base of over 40,000 influential subscribers in the tri-state area. The companies partnered to create weekly SMS alerts that alert subscribers to the new CDs and DVDs available for purchase. And Aquarian uses NearU Search to make its popular GigWatch available – the weekly list of "must–see" live performances – via text.
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Stochasto ASA expands their local SMS search coverage in the US in a deal that extends their relationship with American Community Newpapers.… [more]

Stochasto ASA expands their local SMS search coverage in the US in a deal that extends their relationship with American Community Newpapers. On the heels of launching the search in Leesburg, VA, ACN agreed to partner with NearU Search for all of its publications in Northern Virginia. In addition, the company will shortly enter the Southern California market with its newest partner Random Lengths News, an alternative weekly in San Pedro, CA. Read the complete press release in Norwegian or English.
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Leesburg Today has signed a deal with NearU Search for its text alerts and directory services. Soon, Leesburg… [more]

Leesburg Today has signed a deal with NearU Search for its text alerts and directory services. Soon, Leesburg Today readers will be able to subscribe to custom text alerts delivered daily to their mobile phones. Read the complete press release in Norwegian or English.
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"What's needed? When? Where?" has long been the holy grail of information retrieval companies. With the proliferation… [more]

"What's needed? When? Where?" has long been the holy grail of information retrieval companies. With the proliferation of mobile devices, this goal has an additional dimension Ð understand what's needed in the fewest key strokes possible. Read the translated press release...
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Mårten Wigstol has a dream in his hand. Stochasto ASA, a limited public company, has launched NEARU… [more]

Mårten Wigstol has a dream in his hand. Stochasto ASA, a limited public company, has launched NEARU, a text search service for the US consumer. The new service is encouraging to investors who have been with the company since early days. Wigstol, who is on the board, says he "will not be surprised if the company would be listed at the Oslo Stock Exchange ... However, today we are focusing on to establish a real business and make positive revenues stream in the near future." (Full text of the Norwegian article.)
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On 3 April, Stochasto launched a lifestyle marketing service as NearU.  Users can text 63278 (NEARU)… [more]

On 3 April, Stochasto launched a lifestyle marketing service - NearU.  Users can text 63278 (NEARU) to find over 500,000 restaurants, café and movie listings.  The matching business listings are ordered by distance from the user-specified location and short reviews of the establishments are presented in the details of each listing.  Members can call directly from the detailed listing text by using “call back” in their message options.
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Is it possible to get information from databases straight to your mobile phone? Yes! Due to the agency of… [more]

Is it possible to get information from databases straight to your mobile phone? Yes! Due to the agency of innovation marketing Promo Interactive (holding Next Media Group) and the company Stocona users of mobile phones can find any information from the database of Yellow Pages at any moment. Read the complete translation of the Russian press release...
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On 1 March, Stocona AS partnered with Yellow Pages Russia to launch SMS listings… [more]

On 1 March, Stocona AS partnered with Yellow Pages Russia to launch SMS listings.  “Now the inhabitants of Moscow and Moscow region can receive information about restaurants, cafes and bars by SMS. It is easy.  Just send your query to the short number 3090…” says the Yellow Pages press release.
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“We have lost our friend and colleague…and our heartfelt condolences go to his parents, wife and children… [more]

“We have lost our friend and colleague…and our heartfelt condolences go to his parents, wife and children.”  Ivar Formo – Stochasto director and Norwegian national hero – died 27 December 2006.  He was 55.  "The remarkable instincts, indefatigable spirit and extraordinary intellect that made him an Olympic champion also made him an invaluable contributor to our Board of Directors.  He will be missed by Stochasto and so many others whose lives he touched.” said Heather Mlodinow, Chief Executive Officer and Director of Stochasto.
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Stochasto has leveraged its linguistic search technology to summarize both user and editorial restaurant reviews… [more]

Stochasto has leveraged its linguistic search technology to summarize both user and editorial restaurant reviews.  Multiple business and user review sources for each restaurant are indexed to provide precision beyond cuisine and location. Each result returns a NanoReview™ that describes the most frequently cited characteristics of over 500,000 dining establishments in the United States.
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Stochasto shareholders were treated to a review and discussion of the commercial launch plans… [more]

Stochasto shareholders were treated to a review and discussion of the commercial launch plans for the search technology in a meeting at the Felix Conference Center in Oslo. Shareholders who were unable to attend can request a copy of the presentation from post@stochasto.com.
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The board of directors of Stochasto ASA has called an extraordinary general meeting on 28 June 2006… [more]

The board of directors of Stochasto ASA has called an extraordinary general meeting on 28 June 2006 for the purpose of extending the current NOK 9.7 million convertible loan to a maximum of NOK 25 million and prolonging it to 1 July 2007.
Agenda items include the following:

4. Restructuring and extension of the secured convertible loan

In February 2006, the Company obtained NOK 9.7 million in secured loans from a group of investors. In order to allow more time to obtain long-term, strategic investments and give the Company better resources to launch a commercial service, the board of directors has proposed to extend the existing convertible loan to total of maximum NOK 25 million and prolong maturity to 1 July 2007.

The subscription period for the extended loan is from 14 June to 28 June 2006 at 12:00 Noon. Shareholders registered in the Norwegian Central Securities Depository (VPS) on 12 June 2006 have the right to subscribe to the extended loan in proportion to their shareholdings. Subscriptions in excess of shareholders’ rights (oversubscriptions) are allowed. The board of directors will allot any oversubscriptions to unused subscription rights as far as possible in proportion to the subscribed amounts.

5. Authorization to issue new shares

The board proposes to replace the existing board authorizations to increase the share capital with a single authorization to issue up to 9.6 million shares with cash or debt conversion as settlement.
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Stochasto announces the appointment of Heather Mlodinow as Chief Executive Officer… [more]

Stochasto announces the appointment of Heather Mlodinow as Chief Executive Officer. Mlodinow brings considerable experience in management of bringing technology products to market. Her charter is to deploy Stochasto technology in a commercial venue.

Mlodinow is formerly the Vice President of Strategy & Business Development at Overture, a search marketing company where she led the integration of AllTheWeb, AltaVista and Overture search systems. She has held executive roles in technology companies, including a senior directorship with PricewaterhouseCoopers Internet Technologies practice where she advised numerous emerging technology ventures.

Ms. Mlodinow has a B.S. in Marketing, and is currently on the board of a not-for-profit educational foundation.
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Stochasto's annual general meeting today elected Ivar Formo as a new board member… [more]

Stochasto's annual general meeting today elected Ivar Formo as a new board member. Formo has extensive experience from development and structuring of companies in the IT, telecom and finance sectors. He is an investor and board member of the listed companies Ignis ASA, Dynapel Systems, PSI Group ASA and Cashguard AB.

Formo is formerly Chief Executive Officer of Kistefos Venture Capital AS, a venture capital company. He holds a postgraduate business administration degree from the Norwegian Business Institute and an engineering degree from the Norwegian Technical College.

He replaces Fredrik Klaveness on the board.
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The board of directors of Stochasto ASA has called the annual general meeting of the company on 31 March 2006… [more]

The board of directors of Stochasto ASA has called the annual general meeting of the company on 31 March 2006.
The agenda items include the following:

1. Opening of the meeting by board member Fredrik Klaveness, and registration of shareholders present

2. Election of a chairperson of the meeting and one person to co-sign the minutes

3. Approval of the notice of the meeting and the proposed agenda

4. Approval of the annual accounts for 2005 and the annual report of the board of directors
The year 2005 ended with a loss of NOK 20 million for Stochasto ASA as well as for the concern on a consolidated basis, which is according to plan. Research and development expenses and other intangible assets are fully expensed. The board proposes that the loss is transferred to uncovered losses and then covered by transfer from the share premium fund.

5. Approval of remuneration to the auditor and board of directors

6. Election of one or more new members of the board of directors

7. Conversion of loan into convertible loan
To strengthen the company's financial position and in order to provide more time for a planned increase of the company's share capital towards long-term, strategic investors, the company has secured NOK 9.7 million in loans from a group of investors. The board of directors proposes that the general meeting resolve to adopt the loans as convertible loans.

8. Options program
The board recognizes the need for an options program to provide incentives and remuneration for key persons in the company and the company's partners. It is therefore proposed that the general meeting authorizes the board of directors to issue up to 800,000 new shares (approximately 4.2% of the outstanding shares) upon exercise of such options.

9. Authorization to issue new shares
In order to provide a means for the board to raise capital, the board proposes that the general meeting authorizes the board to issue up to 3,000,000 new shares (approximately 15.6% of outstanding share capital). In order to provide the board with convertible loans as a means to raise capital, the board proposes that the same authorization includes conversion of debt to share capital.
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The board of directors of Stochasto ASA is pleased to welcome Mr. Mårten Wigstøl… [more]

The board of directors of Stochasto ASA is pleased to welcome Mr. Mårten Wigstøl as a new board member following his election by the shareholder meeting. Mr. Wigstøl has over 15 years of experience within the biotechnology and diagnostics industry.

He was previously the Managing Director in Qiagen's division for transplantation diagnostics, a biotechnology company listed on the NASDAQ. Wigstøl was also the co-founder and CEO of GenoVision which Qiagen acquired in 2002. He has also been the CFO of Dynal Biotech AS.

Mr. Wigstøl also holds several other board positions, including Chairman of Genpoint AS. He holds a Hon. B. Comm. from the Laurentian University in Canada and an MBA from Henley Management College in the UK. Mr. Wigstøl is a Norwegian citizen and resides in Oslo, Norway.

The board of directors and the management of Stochasto ASA are very pleased to have obtained Mr. Wigstøl's competence, especially within introduction and marketing of international products and services as well as his extensive experience from board positions in international companies. His joining the company represents increased efforts towards commercialization and successful marketing of the company's unique search technology.
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The board of directors of Stochasto ASA has called an extraordinary general meeting on 18 January 2006… [more]

The board of directors of Stochasto ASA has called an extraordinary general meeting on 18 January 2006.

Agenda items include the following:

4. Election of one or more new members to the board of directors

The board of directors wishes to strengthen itself with additional expertise, and a change needs to be made to the board of directors in order to satisfy the nationality requirements of the Norwegian Public Limited Liability Companies Act.

5. Proposal for an authorization to the board of directors to increase the share capital

The board of directors has granted CEO David Cox and Chairman Alex Cory stock options subject to vesting schedules. The board of directors proposes that an authorization be granted to increase the Company's share capital by up to NOK 250,000 so as to enable the board of directors to issue shares in the event of these options being exercised, and also to provide the board of directors with the ability to grant further stock options.

6. Proposal for a split of the Company's shares

The board of directors proposes that the Company's shares be split 1:10.
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Stochasto's antivirus software has received the Software Applications 2005 Editors' Choice Award… [more]

Stochasto's antivirus software has received the Software Applications 2005 Editors' Choice Award from PC Magazine, Russian Edition. The virus control product is marketed in Russia under the name Stocona Antivirus and became Editors' Choice in the category Data Security.

Stochasto Antivirus has the advantage of being able to detect unknown viruses. It analyses target code and uncovers malicious behavior - independently of virus signatures.

Stochasto Antivirus provides as such an extra layer of protection, for example in the cases of viruses that spread quickly, and prevents attacks that occur before virus signature lists are updated.
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