Corporate Report: May 6

Ceelox offers ID software compatible with Win7
Tampa-based Ceelox Inc. has introduced the beta release of the Ceelox ID 7 PC Edition. The new Ceelox ID utilizes new authentication capabilities in the Windows 7 computer operating system to control access to a user's computer through biometrics, such as a fingerprint or retinal scan.

“By incorporating the functionality of the Windows Biometric Framework into our design, Ceelox enables the plug-in-play mentality of interoperating with any fingerprint sensor...” Gerry Euston, CEO of Ceelox, says in a press release.

Ceelox Inc. is a developer of biometric security and encryption software solutions for financial institutions, healthcare companies, utilities, government agencies and other organizations.

Coleman Cable starts tender offer for Technology Research shares
Coleman Cable Inc. is offering to acquire all outstanding shares of Technology Research Corp.

Coleman Cable agreed to buy and merge with Technology Research in late March. As part of that deal, all Technology Research shares will eventually be purchased at $7.20 per share.

The offer is scheduled to expire May 13.

William Blair & Co. LLC is acting as financial adviser to Coleman Cable and Winston & Strawn LLP is acting as its legal adviser. Hyde Park Capital is acting as financial adviser and Hill, Ward & Henderson, P.A. is acting as legal adviser to Technology Research.

Coleman Cable Inc. is a manufacturer of electrical and electronic wire and cable products.

Walter Energy shares listed on Toronto Stock Exchange
Tampa-based Walter Energy has received approval from the Toronto Stock Exchange to list the company's common shares on the exchange.

Those common shares have already started trading under the symbol “WLT.” Walter Energy plans to continue listing its shares on the New York Stock Exchange, also under the ticker symbol “WLT.”

“Listing on the TSX is in line with our strategy to provide our shareholders with a range of ways to participate in the company and to reaffirm our position on the global stage,” Keith Calder, CEO of Walter Energy, says in a press release.

Walter Energy is a metallurgical coal producer and also produces steam coal and industrial coal, anthracite, metallurgical coke and coal bed methane gas.

Innovaro's interim CEO made permanent
Asa Lanum has been appointed CEO of Tampa-based Innovaro Inc. Lanum has served as the interim chief executive officer since August, when the company's former CEO Doug Schaedler resigned.

Lanum was formerly managing principal and senior technology principal for The CTO Group.

“Asa has demonstrated focus on operational excellence through managing cost while streamlining our business,” Charlie Pope, chairman of Innovaro's board of directors, says in a press release. “He has a significant background introducing new products and services to the marketplace and growing organizations.”

Lanum has also been named a member of the Innovaro's board of directors.

Alico financial officer resigning after quarterly report
Scott Whitney, Alico Inc.'s chief financial officer, has announced he plans to resign to pursue other interests. He plans to make his resignation effective either after the filing of the company's 10-Q for the second quarter or after the company appoints his successor.

While Alico searches for a replacement, it plans to appoint Steven Lewis, the company's treasurer, as interim CFO in the event that Whitney's resignation becomes effective prior to the appointment of a successor. Lewis was formerly the chief financial officer of Naples-based WilsonMiller Inc.

Alico owns 139,607 acres of land located in Collier, Glades, Hendry, Lee and Polk counties, and it is involved in various agricultural and real estate activities.

ValCom audio content appraised at $80 million plus
Clearwater-based ValCom Inc. has completed the second phase of an audit and appraisal of its content library that valued its audio content at more than $80 million.

To determine an accurate value of the more than 6,000 titles that have been acquired by the company during the past 25 years, ValCom contracted with DOS Broadcast and Appraisal Services, a business-consulting firm for the motion picture industry.

The first phase of the audit and appraisal focused on the television and film portion of the library. Films in the library were appraised at a present value of $40.18 million. The combined value of ValCom's television, film and audio content is more than $120 million.

“Both phases of the appraisal have exceeded our expectations,” Vince Vellardita, president and CEO of ValCom Inc. says in a press release. “This will allow ValCom to maximize revenue as we license this content, and develop proprietary video and audio products. The content will also fuel the growth of our My Family TV television network by providing My Family TV affiliates with television programs and films they would normally need to purchase.”

ValCom Inc. is a diversified entertainment company that operates television and film production, broadcasting, distribution and live theatre businesses.

US Natural Gas Corp. restarts Kentucky well
St. Petersburg-based US Natural Gas Corp. says it has completed the rework procedure for Lasley No. 4, an oil well located in Adair County, Ky., and placed it back into production.

The Lasley No. 4 well was originally drilled and completed in August 1983. Company officials removed the above-ground completion components and rods, the cups, down-hole pump and select rods were replaced. The Lasley No. 4 is scheduled to produce on average 1.5 to three barrels of oil per day.

The company has moved its work-over rig to the Lasley No. 3 well located on the same leased property and initiated the re-entry procedure. At present, the company anticipates it will be required to remove and or replace the rods, tubing, down-hole pump, working barrel, and cups on the No. 3 prior to placing it back into production.

“The acquisition of our work-over rig now allows us to re-enter our wells in a timely and cost-effective manner,” Wayne Anderson, president of US Natural Gas says in a press release. “The rig will also grant us the opportunity to bail open wellbores and places those with signs of oil delivery into production. We have identified three candidates, which we will address in the coming weeks.”

Max Media Group buys classic-car rebuilder
Palm Harbor-based Max Media Group Inc. purchased a classic car restoration facility in Tarpon Springs. The 45,000-square-foot facility at 440 S. Pinellas Ave. features three paint spray booths and is near the 35,000-square-foot Classic Corvettes and Collectables showroom the company purchased recently. Max Media Group also recently purchased the domain name classiccorvettes.com.

The restoration facility currently has four projects in various stages of restoration, including a 1968 Chevelle Convertible ProTouring custom build, 1970 Plymouth Cuda ProTouring custom build, 1969 Camaro Convertible ProTouring custom build and a 1971 Chevelle Convertible project car. Upon completion of restoration, these cars will have a total resale value of more than $450,000.

“The goal of our company is to tap into niche communities and create a network within that community that provides valuable services, information and product,” James Grady president and CEO of Max Media Group Inc., says in a press release. “If you look at the www.hotautoweb.com property, the Max Motoring Radio Show, the classic car showroom, the restoration facility, www.classiccorvettes.com and the recent acquisition of Members AutoLink; I think you can see the revenue model taking shape. We are involved in most every aspect of the collectible car industry.”

Bay Systems hires Pilston as chief operating officer
David Pilston has been named chief operating officer for Sarasota-based software consulting firm Bay Systems. In the newly created position, Pilston will be responsible for Bay Systems' strategy and guide its day-to-day operations.

Pilston began his career with Andersen Consulting in Los Angeles. He later successfully helped lead several technology companies in the Silicon Valley through similar growth phases. He was formerly director of education and consulting services for Oracle Corp., practice director for financial systems at The Application Group and vice president of customer services with Quintus Corp. He launched his own angel investment firm, Zephyr Ventures, in 1997.

“Not only will David's broad industry experience immediately add value for our Bay Systems clients,” stated Bay Systems CEO Pat Wunderlin in making the announcement, “but his reputation as an effective leader with outstanding organizational and communication skills will guide Bay Systems through a critical phase of growth in our company's future.”

Golfsmith International chooses SunView Software
National retailer Golfsmith International Holdings Inc. has selected Tampa-based SunView Software's ChangeGear to track and control its information technology changes.

Golfsmith International says it chose the software to help it comply with the Payment Card Industry Data Security Standard and the Sarbanes-Oxley Act (SOX) of 2002. Those regulations require organizations to put IT controls in place and demonstrate an ability to protect financial information, safeguard confidential customer data, secure IT infrastructure and ensure data integrity. ChangeGear automates, manages and tracks change on critical IT components.

“We chose ChangeGear because we needed a robust change control software to ensure that each change to our IT infrastructure follows our company's processes and policies,” Michael Henderson, director of IS Operations at Golfsmith International, says in a press release. “Implementing ChangeGear will help us with our compliance initiatives by allowing our staff to maintain the change tickets and approvals within our approved PCI and SOX policy workflow.”

Golfsmith International Holdings Inc. is a 44-year-old specialty retailer of golf and tennis equipment, apparel and accessories. The company operates more than 76 stores across the United States, in addition to its website, gulfsmith.com, and catalogs.