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Corporate Report: June 1

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  • | 8:47 a.m. June 1, 2012
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Catapult Systems helps PGT create new online ordering system
North Venice-based PGT Industries hired Catapult Systems, an Austin, Texas-based Microsoft IT consulting firm, to roll out a new online order system for the window/door maker. The new order system, called Exoquote, uses the Web-based Microsoft Silverlight platform.

The goal of the new system was to allow PGT customers to place highly customized orders quickly. Exoquote makes that possible through a website without requiring customers to install an application, allowing it to support a wide variety of customer hardware and software.

“In our industry, customers have a low tolerance for slow performing ordering systems,” Terry Mitchell, IT director for PGT, says in a press release. “The goal of the new Exoquote solution was to give customers the performance they expect without compromising any of the advanced ordering features they needed.”

RockTenn, Peoples Gas start construction on natural gas line
Tampa-based TECO Peoples Gas and its partner RockTenn have broken ground on a pipeline project on Fernandina Beach to deliver natural gas to RockTenn's containerboard-manufacturing mill. The line will connect the Peoples Gas Jacksonville distribution system to RockTenn's mill.

“At the mill, converting to natural gas helps ensure our competitive market position and ultimately that means stable RockTenn jobs here in Fernandina Beach,” Jim Porter, president of corrugated packaging and recycling at RockTenn, says in a press release.

Peoples Gas System, Florida's largest natural gas distribution company, is one of the four core businesses of the energy-related holding company TECO Energy Inc. RockTenn is a manufacturer of corrugated and consumer packaging and recycling solutions.

American Community Development Group receives $1 million capital commitment
A private equity fund has committed to providing up to $1 million in financing to St. Petersburg-based American Community Development Group Inc. for working capital and acquisitions over the next year.

The company recently withdrew $50,000 in the first installment to secure legal, accounting and short-term working capital requirements.

The goal of the financing agreement was to expand the company's revenue and cash flow and to help it complete all legal and other requirements in order to qualify for listing on the OTC QX market.

American Community Development Group is also in separate negotiations for additional acquisition and merger-specific capital.

The company also reported it has filed its required quarterly financials.

HSN marketing jewelry collection for Universal Pictures centennial
St. Petersburg-based multi-channel retailer HSN has partnered with Universal Pictures to launch an exclusive collection of fashion jewelry inspired by some of Universal's films.

Designed as part of the movie studio's centennial anniversary, the Universal Vault Jewelry Collection will consist of necklaces, bracelets, rings, earrings and pins.

The debut collection will feature more than 40 unique pieces ranging in price from $22.95 for a pair of button pearl earrings to $199.95 for a canary and clear pear-shaped drop necklace. The current collection was inspired by several classic films including Pillow Talk, Female on the Beach, Lover Come Back and Madame X.

“Having access to Universal Pictures' rich heritage of iconic films has given us an amazing opportunity to create a one-of-a-kind collection of timeless designs that celebrate the glitz and glamour of Hollywood,” John Bosco, senior vice president of apparel, accessories and jewelry for HSN, says in a press release.

This year, Universal will be restoring and re-releasing 13 of its best known films.

ExecuJet Charter Service adds Falcon 900 to fleet
Corporate jet service ExecuJet Charter Service Inc. —based at Tampa International Airport — has added a Dassault Falcon 900 to its fleet of aircraft. The new Falcon 900 is the second aircraft added to the ExecuJet fleet in the last two months, and it brings the total number of jets in the ExecuJet fleet available for private charters to seven.

The Falcon 900 seats 12 passengers and has a stand-up cabin, Wi-Fi capabilities, a DVD/CD, fax/copier and air cell flight phone. Other amenities include a galley, full lavatory, a micro warming oven and a baggage area complete with cabin access. Designed to handle non-stop transoceanic travel, the Falcon 900 has a range of 4,700 miles.

AxiaRx issues discount card, donates portion of spending to humane society
The Bradenton-based company AxiaRx has introduced a free prescription discount card in Manatee County and other unspecified communities that it claims cuts prescription drug costs by an average of 45%. The discount cards can be used at local pharmacies, including national retail chains such as Publix, Walgreens, CVS, Walmart, Kmart, Target and others.

The company says its AxiaRx prescription discount cards are arranged in a partnership with local pharmacies, not drug companies. Reportedly more than 62,000 retail pharmacies nationwide participate in the discounting program.

The company has committed to donating a percentage of the money users spend on their prescriptions to the Humane Society of Manatee County and other local humane societies in areas where the cards are being introduced.

Lancet Indemnity premiums grow 18% in first quarter
Tampa-based Lancet Indemnity RRG Inc. reported an 18% increase in written premiums in the first quarter compared with the same quarter in 2011. This continued an upward trend for the company. It grew 52% year over year in 2011.

“We've experience great growth but we haven't even scratched the surface of the market,” Anthony Maniscalco, the chief operating officer of Lancet, says in a press release. “We are writing business in 13 states but until we have a major presence in each our job isn't done.”

Maniscalco expects the company will see growth equal to if not greater than what it posted in 2011 this year.

Lancet Indemnity recently hired Brian Menendez to lead its business development and marketing division. Prior to joining Lancet, Menendez worked for Westview Financial Group, an independent insurance firm specializing in advanced case design for life insurance cases.

Started in 2007, by five Tampa Bay area physicians, Lancet Indemnity provides medical professional liability insurance for physicians, groups, captives and associations. Today the group insures more than 2,300 physicians and surgeons.

ISM International receives $10 million in funding
Clearwater-based ISM International Inc. reached an agreement with a private investment group for $10 million in cash funding spread out over the next two years.

The company says the deal should allow ISM International to expand immediately and speed up its roll out of its MyGirl products.

“We are raising our revenue projection from the MyGirl product line following the receipt of this funding, and that is a great step forward for the company,” Mario Quenneville, CEO of ISM International says in a press release. “These funds enable ISM to immediately speed up the manufacturing and distribution nationwide of MyGirl products.”

Terms of the deal are being kept confidential, but are described as not resulting in any common shareholder dilution.


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