Wallace, Idaho-based Superior Silver Mines, Inc. announced today that it has completed a reverse merger transaction with Clean Wind Energy, Inc. Entering into the closing, Superior Silver Mines was a public “shell” company with nominal assets whose purpose was to seek, investigate and, if such investigation warranted, acquire an interest in business opportunities presented to it by other persons or firms.
Clean Wind Energy, which has business strategies to design, develop and construct large downdraft towers to generate electricity and clean water economically, will now become a wholly-owned subsidiary of Superior Silver Mines and its business operations will become the principal business operations of Superior Silver Mines from this point forward. Clean Wind Energy, Inc. has filed several patents which further perfect and enhance their downdraft tower technologies. In order to bring the technology to market, Clean Wind has assembled a world-class team of experienced business professionals, engineers and scientists with access to the breakthrough energy research.
As part of the merger, Superior Silver Mines Director Dale B. Lavigne has resigned and Ronald W. Pickett and Robert P. Crabb were appointed to the Company’s Board. Ronald W. Pickett will retain his positions as Superior Silver Mines’ President, CEO and Chairman. At this point, no name change or ticker change is scheduled for Superior Silver Mines and it will continue to trade on the Over the Counter Bulletin Boards under the ticker “SSVM”.
The transaction was completed through the two companies, as well as Superior’s wholly-owned subsidiary, Superior Silver Mines Acquisition Corporation, and entailed Clean Wind stockholders being issued rights to receive shares of SSVM in exchange for their Clean Winds common stock. An aggregate of 300 million shares were involved in this rights offering. Upon completion, there will be 327,055,199 shares of SSVM issued and outstanding, with the shareholders of SSVM controlling approximately six percent and the pre-merger shareholders of Clean Wind owning approximately 92 percent on a fully-diluted basis.
An 8-K will be filed with the Security and Exchange Commission no later than January 5, 2011. Additional information on Clean Wind Energy, Inc. and its concepts can be found on the Company’s website at www.cleanwindenergytower.com¬¬¬¬
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Thursday, December 30, 2010
China Energy Corp. (CHGY.OB) Video Chart for Thursday, December 30, 2010
CHGY has retreated from highs that were achieved in November at $2.20, and is now holding a new support level at $1.50. Technical traders will have this stock on radar for buying pressure to hold the support level while watching for any movement north to test resistance levels.
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Zentric, Inc. (ZNTR.OB) Moves Forward with Revolutionary Battery
Zentric Inc. is committed to using advanced technology to help save the environment. Their primary goal is to provide a superior battery for electrical and hybrid vehicles, through the development and acquisition of proprietary technology. To this end the company has brought together a team of renowned experts from industry and the scientific research community; people preeminent in the automotive and battery technology fields.
The company is quickly becoming a leader in advanced battery technology development, manufacturing, and fuel cell storage technologies, and has already made a major advance in battery technology. By using a proprietary combination of metal hydride and lead acid materials, they are developing a battery with much higher voltages than traditional lead acid batteries, while costing far less than lithium-ion batteries.
The new approach is especially timely considering the accelerating interest in electric vehicles. When it comes to electricity, the major challenge of car makers has always been the low power/cost ratio. Vehicles with enough stored energy to interest the market tend to be too expensive for the market. Vehicles that are affordable tend to be too limited in stored energy. A battery offering the best of both worlds represents a significant milestone.
Zentric recently signed a joint venture agreement to build and operate a battery production facility in Jilin Province, China. China’s demand for batteries is expected to grow by over 8% annually, and the market for high-capacity batteries is projected to increase even faster, perhaps 30% by 2015. Zentric, with its proprietary technologies, high profile management and research team, and well-planned growth profile, considers itself perfectly positioned to capture a major share of this rapidly expanding market.
For more information on Zentric, and their new battery technology, visit www.ZBatt.com
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The company is quickly becoming a leader in advanced battery technology development, manufacturing, and fuel cell storage technologies, and has already made a major advance in battery technology. By using a proprietary combination of metal hydride and lead acid materials, they are developing a battery with much higher voltages than traditional lead acid batteries, while costing far less than lithium-ion batteries.
The new approach is especially timely considering the accelerating interest in electric vehicles. When it comes to electricity, the major challenge of car makers has always been the low power/cost ratio. Vehicles with enough stored energy to interest the market tend to be too expensive for the market. Vehicles that are affordable tend to be too limited in stored energy. A battery offering the best of both worlds represents a significant milestone.
Zentric recently signed a joint venture agreement to build and operate a battery production facility in Jilin Province, China. China’s demand for batteries is expected to grow by over 8% annually, and the market for high-capacity batteries is projected to increase even faster, perhaps 30% by 2015. Zentric, with its proprietary technologies, high profile management and research team, and well-planned growth profile, considers itself perfectly positioned to capture a major share of this rapidly expanding market.
For more information on Zentric, and their new battery technology, visit www.ZBatt.com
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Delta Petroleum Corp. (DPTR) Closes On New Credit Facility
Delta Petroleum Corp. reported that it has closed on a new credit facility to help finance oil and gas exploration and development operations in 2011. The company said that Macquarie Bank Limited will provide a senior secured credit facility in the amount of $100 million. Delta Petroleum will have immediate access to $50 million of the senior secured credit facility.
The initial $50 million will be composed of two tranches. Tranche A consists of a $30 million revolving line of credit at an interest rate of Libor plus 600 basis points, or the prime rate plus 600 basis points. Tranche B consists of a $20 million advancing term loan at an interest rate of Libor plus 900 basis points, or the prime rate plus 800 basis points.
Delta Petroleum said that the new senior secured credit facility will mature on January 31, 2012, and the company is required to pay a closing fee of 2% of the principal.
Delta Petroleum is an exploration and production company focused on the Piceance Basin in Colorado. The company’s main area of development is the Vega Project where the company has more than 20,000 net acres under lease.
For more information on the company, go to www.deltapetro.com
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The initial $50 million will be composed of two tranches. Tranche A consists of a $30 million revolving line of credit at an interest rate of Libor plus 600 basis points, or the prime rate plus 600 basis points. Tranche B consists of a $20 million advancing term loan at an interest rate of Libor plus 900 basis points, or the prime rate plus 800 basis points.
Delta Petroleum said that the new senior secured credit facility will mature on January 31, 2012, and the company is required to pay a closing fee of 2% of the principal.
Delta Petroleum is an exploration and production company focused on the Piceance Basin in Colorado. The company’s main area of development is the Vega Project where the company has more than 20,000 net acres under lease.
For more information on the company, go to www.deltapetro.com
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China Medicine Corp. (CHME.OB) Success Prompts New $2M Stock Repurchase Program to Follow Ongoing Program, Nears Approval of Aflatoxin Recombinant
China Medicine Corp., www.cmc621.com – the remarkable China-based research/developer, manufacturer and marketer of a variety of Western and traditional Chinese medicines (TCMs), herbal/dietary supplements and medical devices, reported approval by the Board of Directors yesterday of a new $2M stock repurchase program.
Slated to commence upon completion of the current repurchase program ($1.5M or 710k shares already repurchased by Dec. 22 of this year), which will end either via conclusion or the arrival of July 11, 2011, the new program would:
• Run over a 12-month interval, making strategic/timely purchases via open market or private transactions (in compliance with SEC Rules 10b-5, 10b5-1 and 10b-18)
• Be funded via an escrow account created as part of the Jan.28, 2010, subscription agreement with OEP CHME Holdings, LLC, the Company’s principal shareholder (OEP CHME is an affiliate of JP Morgan’s private equity arm, One Equity Partners)
Chairman and CEO of CHME, Senshan Yang, emphasized the Company’s strong cash position and how it allowed the “fundamental strength” to target a multiplicity of currently accessible strategic opportunities.
Yang articulated the tactical objectives held by CHME further, explaining that long-term shareholder value would be driven largely by “organic and acquisition-led growth”, ultimately positing an expanded product portfolio, as well as expanded Chinese logistical footprint as goals.
Yang pointed to achievements within the portfolio, like the Company’s proprietary recombinant for purging food and animal feed of harmful aflatoxins, Aflatoxin Detoxifizyme (rADTZ), for which CHME has completed all the requirements and is merely awaiting completion of the last step in the Chinese Ministry of Agriculture’s approval process.
Yang stressed the effort being put into relations with national/provincial MOA to expedite the process and assured investors that final approval was forthcoming.
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Slated to commence upon completion of the current repurchase program ($1.5M or 710k shares already repurchased by Dec. 22 of this year), which will end either via conclusion or the arrival of July 11, 2011, the new program would:
• Run over a 12-month interval, making strategic/timely purchases via open market or private transactions (in compliance with SEC Rules 10b-5, 10b5-1 and 10b-18)
• Be funded via an escrow account created as part of the Jan.28, 2010, subscription agreement with OEP CHME Holdings, LLC, the Company’s principal shareholder (OEP CHME is an affiliate of JP Morgan’s private equity arm, One Equity Partners)
Chairman and CEO of CHME, Senshan Yang, emphasized the Company’s strong cash position and how it allowed the “fundamental strength” to target a multiplicity of currently accessible strategic opportunities.
Yang articulated the tactical objectives held by CHME further, explaining that long-term shareholder value would be driven largely by “organic and acquisition-led growth”, ultimately positing an expanded product portfolio, as well as expanded Chinese logistical footprint as goals.
Yang pointed to achievements within the portfolio, like the Company’s proprietary recombinant for purging food and animal feed of harmful aflatoxins, Aflatoxin Detoxifizyme (rADTZ), for which CHME has completed all the requirements and is merely awaiting completion of the last step in the Chinese Ministry of Agriculture’s approval process.
Yang stressed the effort being put into relations with national/provincial MOA to expedite the process and assured investors that final approval was forthcoming.
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Transgenomic, Inc. (TBIO.OB) Announces Acquisition of Clinical Data, Inc.’s Diagnostic Business
Transgenomic, Inc. announced yesterday that they closed the acquisition of Clinical Data, Inc.’s diagnostic business with a sale price of $15.5 million. The Company also has closed on $6.0 million of financing from Third Security, LLC, a leading life sciences investment firm, to fund the cash portion of Transgenomic’s acquisition of Clinical Data’s diagnostic business.
This strategic acquisition provides Transgenomic, Inc. with proprietary genetic commercial tests that have an established revenue base, proprietary biomarker assays, an additional CLIA-certified laboratory operation and established test reimbursement and coverage policies that offer access to testing for an estimated 280 million patients.
Commenting on the acquisition of Clinical Data’s diagnostic business, Craig Tuttle, Chief Executive Officer of Transgenomic, Inc. said, “We are very excited about the acquisition, which strengthens our molecular diagnostics position in the marketplace, expands our commercial operation with an accomplished team that will improve our competitive position and enhances our customer support and patient care capabilities. We are also very excited about building a strategic relationship and having the support of such a respected investor as Third Security and Randal Kirk. Their knowledge of our industry will be beneficial in catapulting Transgenomic into the top tier of diagnostic providers.”
Under the terms of the financing with Third Security, the Company has issued an aggregate of 2,586,205 shares of the Company’s newly created Series A convertible preferred stock to certain affiliates of Third Security for an aggregate purchase price of $6.0 million. In addition, the Company issued such affiliates of Third Security warrants to purchase an aggregate of up to 1,293,102 shares of Series A preferred stock at an exercise price of $2.32 per share.
The Series A preferred shares issuable pursuant to the purchase agreement and upon exercise of the warrants are convertible into shares of the Company’s common stock at a conversion price of $0.58 per share, for an aggregate of 15,517,228 million shares of common stock. Upon full exercise of the warrants, Transgenomic, Inc. will receive approximately $3.0 million.
Griffin Securities, Inc. acted as financial adviser and placement agent to Transgenomic, Inc. on this transaction.
Commenting on the investment, Randal Kirk, Senior Managing Director and Chief Executive Officer of Third Security, LLC said, “Transgenomic’s strong management team, broad product offering and state-of-the-art technology position the Company for growth in a significant and underserved market. We look forward to working with Craig Tuttle and his management team to help Transgenomic expand and realize its growth plans.”
Headquartered in Omaha, Nebraska, Transgenomic, Inc. is a global biotechnology company. They specialize in high sensitivity genetic variation and mutation analysis, providing products and services in DNA mutation detection and discovery for clinical research, clinical molecular diagnostics, and pharmacogenomics analyses.
The Company’s product offerings include the WAVE® Systems and associated consumables specifically designed for use in genetic variation detection and single- and double-strand DNA/RNA analysis and purification. The SURVEYOR® Mutation Detection Kits and SURVEYOR Check-It Kit provide reagents and protocols for high sensitivity detection of mutations in DNA.
In addition, HANABI automated chromosome harvesting systems improve laboratory productivity with consistent quality compared with manual methods for cytogenetic analyses. Service offerings include the Transgenomic Molecular Laboratory, which provides reference laboratory services specializing in molecular diagnostics including Mitochondrial Disorders, Oncology and Hematology, Molecular Pathology and Inherited Diseases. Transgenomic Pharmacogenomics Services is a CRO for pharmacogenomic, translational research and clinical trials.
For more information visit: www.transgenomic.com
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This strategic acquisition provides Transgenomic, Inc. with proprietary genetic commercial tests that have an established revenue base, proprietary biomarker assays, an additional CLIA-certified laboratory operation and established test reimbursement and coverage policies that offer access to testing for an estimated 280 million patients.
Commenting on the acquisition of Clinical Data’s diagnostic business, Craig Tuttle, Chief Executive Officer of Transgenomic, Inc. said, “We are very excited about the acquisition, which strengthens our molecular diagnostics position in the marketplace, expands our commercial operation with an accomplished team that will improve our competitive position and enhances our customer support and patient care capabilities. We are also very excited about building a strategic relationship and having the support of such a respected investor as Third Security and Randal Kirk. Their knowledge of our industry will be beneficial in catapulting Transgenomic into the top tier of diagnostic providers.”
Under the terms of the financing with Third Security, the Company has issued an aggregate of 2,586,205 shares of the Company’s newly created Series A convertible preferred stock to certain affiliates of Third Security for an aggregate purchase price of $6.0 million. In addition, the Company issued such affiliates of Third Security warrants to purchase an aggregate of up to 1,293,102 shares of Series A preferred stock at an exercise price of $2.32 per share.
The Series A preferred shares issuable pursuant to the purchase agreement and upon exercise of the warrants are convertible into shares of the Company’s common stock at a conversion price of $0.58 per share, for an aggregate of 15,517,228 million shares of common stock. Upon full exercise of the warrants, Transgenomic, Inc. will receive approximately $3.0 million.
Griffin Securities, Inc. acted as financial adviser and placement agent to Transgenomic, Inc. on this transaction.
Commenting on the investment, Randal Kirk, Senior Managing Director and Chief Executive Officer of Third Security, LLC said, “Transgenomic’s strong management team, broad product offering and state-of-the-art technology position the Company for growth in a significant and underserved market. We look forward to working with Craig Tuttle and his management team to help Transgenomic expand and realize its growth plans.”
Headquartered in Omaha, Nebraska, Transgenomic, Inc. is a global biotechnology company. They specialize in high sensitivity genetic variation and mutation analysis, providing products and services in DNA mutation detection and discovery for clinical research, clinical molecular diagnostics, and pharmacogenomics analyses.
The Company’s product offerings include the WAVE® Systems and associated consumables specifically designed for use in genetic variation detection and single- and double-strand DNA/RNA analysis and purification. The SURVEYOR® Mutation Detection Kits and SURVEYOR Check-It Kit provide reagents and protocols for high sensitivity detection of mutations in DNA.
In addition, HANABI automated chromosome harvesting systems improve laboratory productivity with consistent quality compared with manual methods for cytogenetic analyses. Service offerings include the Transgenomic Molecular Laboratory, which provides reference laboratory services specializing in molecular diagnostics including Mitochondrial Disorders, Oncology and Hematology, Molecular Pathology and Inherited Diseases. Transgenomic Pharmacogenomics Services is a CRO for pharmacogenomic, translational research and clinical trials.
For more information visit: www.transgenomic.com
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True 2 Beauty Inc. (TRTB.PK) Announces $1.3 Million Order From North American Distributor
True 2 Beauty Inc., a leading manufacturer and distributor of sexual potency pills and liquid products in the United States, announced today that it has received its first order from Kretek International, totaling $1.3mm. Recently becoming the exclusive distributor of Libigrow and Libigirl for the U.S. and Canada region, Kretek International is beginning the process of building inventory and maintaining ongoing shipments to Libigrow’s already established retail distribution network of over 6,000 convenience stores.
“This order is just the beginning of our relationship; we are working diligently with Kretek’s management team to create a strong national marketing campaign, including attendance at high profile industry trade shows, celebrity endorsements, television ads, print advertising, online promotions, and even mobile marketing campaigns,” stated Alex Hbaiu, CEO. Mr. Hbaiu further states, “This order reflects current demand for our products, which is ongoing and substantial. As discussed in a previous release, the company believes it will be able to provide forecast information for growth during January 2011.”
“We are very excited to begin our relationship with Kretek International. It is very clear that the Libi family of products have a strong presence in the marketplace and we are firmly committed to increasing distribution to thousands of new retail locations in 2011. This order reflects our strategy to provide the marketplace with no interruption of product as we begin the distribution of Libigrow and Libigirl through Kretek International,” added Gil Dizon, Executive Brand Manager of True 2 Beauty, Inc.
As mentioned previously by the company, True 2 Beauty is currently expanding to a new facility, with new custom-built packaging machines, to provide quicker turnaround for shipments as the company experiences greater demand for the libigrow product line.
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“This order is just the beginning of our relationship; we are working diligently with Kretek’s management team to create a strong national marketing campaign, including attendance at high profile industry trade shows, celebrity endorsements, television ads, print advertising, online promotions, and even mobile marketing campaigns,” stated Alex Hbaiu, CEO. Mr. Hbaiu further states, “This order reflects current demand for our products, which is ongoing and substantial. As discussed in a previous release, the company believes it will be able to provide forecast information for growth during January 2011.”
“We are very excited to begin our relationship with Kretek International. It is very clear that the Libi family of products have a strong presence in the marketplace and we are firmly committed to increasing distribution to thousands of new retail locations in 2011. This order reflects our strategy to provide the marketplace with no interruption of product as we begin the distribution of Libigrow and Libigirl through Kretek International,” added Gil Dizon, Executive Brand Manager of True 2 Beauty, Inc.
As mentioned previously by the company, True 2 Beauty is currently expanding to a new facility, with new custom-built packaging machines, to provide quicker turnaround for shipments as the company experiences greater demand for the libigrow product line.
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IceWEB, Inc. (IWEB.OB) Reports Year End Results for Fiscal 2010
IceWEB, Inc., a leading storage technology company and provider of computing hardware, announced yesterday its financial results for the year ended September 30, 2010.
John R. Signorello, CEO of IceWEB, stated, “Fiscal year 2010 was a year of many achievements and some disappointments. Early in the year, the company elected to re-invent itself by manufacturing and marketing state-of–the-art, storage appliances for cloud computing and other rapidly growing markets. After consultation with a number of storage VARs (Value Added Resellers), we determined a channel partner distribution system was key to our future success.”
Signorello added, “We were fortunate that a very experienced storage professional, Karl Chen, after successfully guiding LeftHand Networks from start-up to its ultimate sale to HP, was seeking a new challenge. Karl saw an opportunity with IceWEB to use his experience to establish a distribution network for the company. Already the company’s has over 50 plus channel partners selling IceWEB storage systems throughout the nation and is on target to have 100 partners by May 2011.
“Although final 2010 quarter sales appear to be well below expectations, it is important to note that sales valued at over six figures were delivered to a key channel partner in the final quarter but the systems were not delivered to the end user in time to be included in the audited final quarter sales results.
“Storage companies have commanded attention from major computer manufacturers and storage suppliers. Deals in the past year have seen a number of large and small storage companies being acquired at many times trailing sales revenues. As our footprint grows and as sales ramp up, it is reasonable to expect that those who have not added storage appliances to their product offerings will continue to explore the opportunity to do so.
“In 2010 we continued to create the foundation for future profitability by investing in our high-margin storage business. Strategically, we believe we are well-positioned to see significant improvement in our fiscal 2011 operating results. Also, we entered into several key strategic alliances with Promark, a leading value added distributor of data storage products and solutions in the United States, which will provide us with significant growth opportunities.
“At this stage of our development our focus is on expanding our channel partnerships, developing enhancements to our already rich featured storage appliance line and increasing sales. In so doing, we will gain market share and, eventually, a valuation that is in keeping with our success,” concluded Signorello.
During the 12-month fiscal period, IceWEB generated sales from continuing operations of $3.3 million, significantly higher than the previous period totaling approximately $2.2 million. The company attributed the increase in revenue to the launch of its two-tier channel sales model.
The increase in gross profit was even more pronounce, rising from $900,000 in fiscal 2009 to $1.6 million in fiscal 2010, an increase of 76%. Gross margin percent improved from 41% to 48%. The improvement in margins is attributable to the sale of higher margin storage products and improving margins in the hardware and software solutions business. The company projected continued improvement in its margins during the next fiscal year.
On a Non-GAAP basis, adjusted net loss for fiscal 2010 was $3,239,575 or ($0.03) per share based on 101,379,729 weighted average shares outstanding. This compares to a GAAP net loss of $6,964,233 or ($0.07) per share for the fiscal year ended September 30, 2010.
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John R. Signorello, CEO of IceWEB, stated, “Fiscal year 2010 was a year of many achievements and some disappointments. Early in the year, the company elected to re-invent itself by manufacturing and marketing state-of–the-art, storage appliances for cloud computing and other rapidly growing markets. After consultation with a number of storage VARs (Value Added Resellers), we determined a channel partner distribution system was key to our future success.”
Signorello added, “We were fortunate that a very experienced storage professional, Karl Chen, after successfully guiding LeftHand Networks from start-up to its ultimate sale to HP, was seeking a new challenge. Karl saw an opportunity with IceWEB to use his experience to establish a distribution network for the company. Already the company’s has over 50 plus channel partners selling IceWEB storage systems throughout the nation and is on target to have 100 partners by May 2011.
“Although final 2010 quarter sales appear to be well below expectations, it is important to note that sales valued at over six figures were delivered to a key channel partner in the final quarter but the systems were not delivered to the end user in time to be included in the audited final quarter sales results.
“Storage companies have commanded attention from major computer manufacturers and storage suppliers. Deals in the past year have seen a number of large and small storage companies being acquired at many times trailing sales revenues. As our footprint grows and as sales ramp up, it is reasonable to expect that those who have not added storage appliances to their product offerings will continue to explore the opportunity to do so.
“In 2010 we continued to create the foundation for future profitability by investing in our high-margin storage business. Strategically, we believe we are well-positioned to see significant improvement in our fiscal 2011 operating results. Also, we entered into several key strategic alliances with Promark, a leading value added distributor of data storage products and solutions in the United States, which will provide us with significant growth opportunities.
“At this stage of our development our focus is on expanding our channel partnerships, developing enhancements to our already rich featured storage appliance line and increasing sales. In so doing, we will gain market share and, eventually, a valuation that is in keeping with our success,” concluded Signorello.
During the 12-month fiscal period, IceWEB generated sales from continuing operations of $3.3 million, significantly higher than the previous period totaling approximately $2.2 million. The company attributed the increase in revenue to the launch of its two-tier channel sales model.
The increase in gross profit was even more pronounce, rising from $900,000 in fiscal 2009 to $1.6 million in fiscal 2010, an increase of 76%. Gross margin percent improved from 41% to 48%. The improvement in margins is attributable to the sale of higher margin storage products and improving margins in the hardware and software solutions business. The company projected continued improvement in its margins during the next fiscal year.
On a Non-GAAP basis, adjusted net loss for fiscal 2010 was $3,239,575 or ($0.03) per share based on 101,379,729 weighted average shares outstanding. This compares to a GAAP net loss of $6,964,233 or ($0.07) per share for the fiscal year ended September 30, 2010.
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Compugen Ltd. (CGEN) to Receive $5 Million for R&D Initiatives
Before the opening bell today, Compugen Ltd. announced that it has entered into a financing agreement with Baize Investments (Israel) Ltd., a private corporation investing, inter alia, in innovative medical technologies, for $5,000,000 in R&D funding. In exchange, Baize Investments has obtained a financial interest in five designated Compugen-discovered molecules and has been issued a warrant to purchase 500,000 Compugen shares at an exercise price of $6.00 per share, expiring mid-2013.
Baize Investments’ financial interest in the five molecules consists of the right to receive up to 10% of certain future payments received by Compugen from third parties in the event of the successful licensing out for development and/or commercialization of the molecules. In addition, the investor has the right, until June 30, 2013, to waive his right to receive all such future payments in exchange for 833,334 Compugen ordinary shares.
Martin Gerstel, Compugen’s Chairman, commented, “This arrangement is an excellent example of how we can financially leverage our unique predictive product candidate discovery infrastructure to provide an increasing number of novel and attractive product candidates for potential licensing. Given the continuous expansion and improvement of this infrastructure, the in silico prediction and selection of candidates is from a practical standpoint, essentially without limit as to the number of attractive candidates that can feed our Pipeline Program, and on an extremely cost-effective and systematic basis. Recently we announced the addition of twenty such novel molecules to the Program, and more have been added since that announcement. The funds received by Compugen pursuant to the agreement being announced today will allow us to pursue more aggressively our ambitious objectives for the Pipeline Program during the next few years.”
Mr. Gerstel added, “In view of their long-term interest in the activities of the Company, we are very pleased to have Baize Investments and Mr. Murray Goldman join the Compugen team in this very meaningful endeavor.”
Murray Goldman, Baize Investments’ Chairman, stated, “During the past few years, we have followed Compugen’s scientific progress and growing predictive discovery capabilities. We are extremely pleased to become a financial partner in advancing these exciting product candidates, all of which have the potential to address significant unmet medical needs.”
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Baize Investments’ financial interest in the five molecules consists of the right to receive up to 10% of certain future payments received by Compugen from third parties in the event of the successful licensing out for development and/or commercialization of the molecules. In addition, the investor has the right, until June 30, 2013, to waive his right to receive all such future payments in exchange for 833,334 Compugen ordinary shares.
Martin Gerstel, Compugen’s Chairman, commented, “This arrangement is an excellent example of how we can financially leverage our unique predictive product candidate discovery infrastructure to provide an increasing number of novel and attractive product candidates for potential licensing. Given the continuous expansion and improvement of this infrastructure, the in silico prediction and selection of candidates is from a practical standpoint, essentially without limit as to the number of attractive candidates that can feed our Pipeline Program, and on an extremely cost-effective and systematic basis. Recently we announced the addition of twenty such novel molecules to the Program, and more have been added since that announcement. The funds received by Compugen pursuant to the agreement being announced today will allow us to pursue more aggressively our ambitious objectives for the Pipeline Program during the next few years.”
Mr. Gerstel added, “In view of their long-term interest in the activities of the Company, we are very pleased to have Baize Investments and Mr. Murray Goldman join the Compugen team in this very meaningful endeavor.”
Murray Goldman, Baize Investments’ Chairman, stated, “During the past few years, we have followed Compugen’s scientific progress and growing predictive discovery capabilities. We are extremely pleased to become a financial partner in advancing these exciting product candidates, all of which have the potential to address significant unmet medical needs.”
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QKL Stores Inc. (QKLS) Announces New Store Opening
QKL Stores Inc., a leading regional supermarket chain in Northeastern China, today announced the opening of a new hypermarket store. The company now has a total of 43 store locations for an aggregate total of 226,000 sq. meters of store space.
The company’s 43rd store, located in Manzhouli City, Inner Mongolia, was opened today. Manzhouli is China’s biggest inner land trade port with Russia. Located in the center of the business district, serving over 100,000 Chinese and Russian customers, this hypermarket occupies approximately 9,000 sq. meters of gross space and is the largest modern grocery store in the city.
Mr. Zhuangyi Wang, Chairman and CEO, said, “We are pleased to open our new store opening in Manzhouli, which is our third store opened in Inner Mongolia. We believe the unique and broad product section within our stores can appeal to a growing customer audience and we consequently remain focused on further broadening our store presence in the northeast China region.”
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The company’s 43rd store, located in Manzhouli City, Inner Mongolia, was opened today. Manzhouli is China’s biggest inner land trade port with Russia. Located in the center of the business district, serving over 100,000 Chinese and Russian customers, this hypermarket occupies approximately 9,000 sq. meters of gross space and is the largest modern grocery store in the city.
Mr. Zhuangyi Wang, Chairman and CEO, said, “We are pleased to open our new store opening in Manzhouli, which is our third store opened in Inner Mongolia. We believe the unique and broad product section within our stores can appeal to a growing customer audience and we consequently remain focused on further broadening our store presence in the northeast China region.”
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Wowjoint Holdings Ltd. (BWOW) Announces New Contracts Totaling $4 Million
Today, Wowjoint Holdings Ltd. announced it has secured a $1 million equipment sales contract with China Railway Fangshan Bridge Co., Ltd. With delivery anticipated to take place in March 2011, the equipment includes two customized 160-ton special carriers that will be used in a highway bridge construction project administered by the Erdos Project Department in Batuta-Junggar.
Wowjoint also told investors of other service contracts signed this quarter totaling approximately $3 million. These include an $860,000 technical service contract with China Railway 14th Bureau Group Co., Ltd and China Railway 16th Bureau Group Co. Ltd and a $290,000 technical service contract with No. 1 Engineering Company, Ltd, a division of CCCC First Harbor Engineering Company Ltd. Furthermore, Wowjoint signed a 190 day, $1.77 million beam erection service contract with China State Construction Railway Co., Ltd. Wowjoint will be responsible for providing transportation and erection services, utilizing its special launching carrier for mountainous terrain for the Shenyang-Dandong high-speed railway, specifically the difficult bridge-tunnel connection areas of the railway.
“Wowjoint is very pleased to sign this contract with China Railway Fangshan Bridge Co.,” commented Mr. Yabin Liu, Chief Executive Officer of Wowjoint. “This is a new product that we developed specifically for this highway project, which will also provide a cost savings to our client. We continue to grow our core equipment manufacturing business while focusing on diversifying our revenue, which is evidenced by our new service contracts. Our specialized technical capability is highly regarded by our customers, and this key competitive advantage is the main reason Wowjoint secured these additional service contracts faster than initially expected.”
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Wowjoint also told investors of other service contracts signed this quarter totaling approximately $3 million. These include an $860,000 technical service contract with China Railway 14th Bureau Group Co., Ltd and China Railway 16th Bureau Group Co. Ltd and a $290,000 technical service contract with No. 1 Engineering Company, Ltd, a division of CCCC First Harbor Engineering Company Ltd. Furthermore, Wowjoint signed a 190 day, $1.77 million beam erection service contract with China State Construction Railway Co., Ltd. Wowjoint will be responsible for providing transportation and erection services, utilizing its special launching carrier for mountainous terrain for the Shenyang-Dandong high-speed railway, specifically the difficult bridge-tunnel connection areas of the railway.
“Wowjoint is very pleased to sign this contract with China Railway Fangshan Bridge Co.,” commented Mr. Yabin Liu, Chief Executive Officer of Wowjoint. “This is a new product that we developed specifically for this highway project, which will also provide a cost savings to our client. We continue to grow our core equipment manufacturing business while focusing on diversifying our revenue, which is evidenced by our new service contracts. Our specialized technical capability is highly regarded by our customers, and this key competitive advantage is the main reason Wowjoint secured these additional service contracts faster than initially expected.”
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Wednesday, December 29, 2010
True 2 Beauty Inc. (TRTB.PK) Up 15.56% on All-Time Record Volume!
True 2 Beauty, Inc. closed today’s trading at $0.26, up 15.56%, on 1,555,998 traded shares, establishing a new all-time volume record! The stock’s 60-day average volume is 229,466 traded shares.
On Monday, True to Beauty announced that the latest edition of In Touch Magazine features an article citing Britney Spears and boyfriend Jason Trawick as Libigow and Libigirl fans. A link to the article is available at the Libigrow website, www.libigrow.com
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On Monday, True to Beauty announced that the latest edition of In Touch Magazine features an article citing Britney Spears and boyfriend Jason Trawick as Libigow and Libigirl fans. A link to the article is available at the Libigrow website, www.libigrow.com
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California Gold Corp. (CLGL) Secures Financing to Fund Acquisition
California Gold Corp. issued a financial and operational update on the company’s activities, including recent financing activity and a potential acquisition target.
California Gold Corp. reported that the company has received the proceeds of a private placement offering sold to a select group of accredited institutional investors. The company sold 58.48 million units at a price of $0.025 per unit in two separate tranches, yielding approximately $1.46 million in proceeds.
California Gold Corp. said that the 36.48 million units consisted of one share of common stock and a warrant to purchase 0.5 shares of common stock at a price of $0.125 per unit. The other 22 million units consisted of one share of Series A convertible Preferred stock and a warrant to purchase 0.5 shares of common stock at a price of $0.125 per unit. The warrants are exercisable for up to eighteen months after the offering closes.
California Gold Corp. said that part of the proceeds of the offering will be used to finance the purchase of an 80% interest in a mining property located in Sonora, Mexico. The AuroTellurio project is prospective for gold, silver and tellurium and is being sold by the Mexivada Mining Corp.
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California Gold Corp. reported that the company has received the proceeds of a private placement offering sold to a select group of accredited institutional investors. The company sold 58.48 million units at a price of $0.025 per unit in two separate tranches, yielding approximately $1.46 million in proceeds.
California Gold Corp. said that the 36.48 million units consisted of one share of common stock and a warrant to purchase 0.5 shares of common stock at a price of $0.125 per unit. The other 22 million units consisted of one share of Series A convertible Preferred stock and a warrant to purchase 0.5 shares of common stock at a price of $0.125 per unit. The warrants are exercisable for up to eighteen months after the offering closes.
California Gold Corp. said that part of the proceeds of the offering will be used to finance the purchase of an 80% interest in a mining property located in Sonora, Mexico. The AuroTellurio project is prospective for gold, silver and tellurium and is being sold by the Mexivada Mining Corp.
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Clean Power Concepts, Inc. (CPOW.OB) Shares Continue Rise on Chinese Market Agreement
For shareholders of Saskatchewan-based Clean Power Concepts, Inc., this month has indeed been a “December to Remember” as the price per share of CPOW has surged since it began trading on a regular basis a few weeks ago. After touching a low of 4 cents early in the month, volume has exploded and taken the price per share with it, touching 52 cents in trading so far today as the month and year are winding down to a close.
The month has been chock full of news including record revenues from its operating subsidiary, General Bio Energy, which operates a fully integrated commercial oilseed crushing, bio-diesel refinery, and environmental lubricants manufacturing and bottling plant which is also capable of nutraceutical and food processing. Other highlights have included General Bio Energy acquiring the rights to significant Licensed Technology patents for use at its production facility, launching the “Spirit of Health” brand of natural consumer products, and General Bio Energy being named as one of Canada’s top 50 emerging growth companies by Profit Magazine.
Today, the Company announced a milestone agreement which marks its entry in the Chinese markets for its crude canola oil. The open-ended agreement, in which Clean Power will supply its crude canola oil to Chongqing Grain Group Company Ltd. of China, opens the door to generate sales in excess of $400 million over the next ten years of the contract, according to the Company.
Under the Agreement, Chongqing was committed to purchase up to 3,000 metric tonnes of crude degummed canola oil from General Bio Energy and ship the oil to China where it will be refined into table-ready, ‘Refined Bleached and Deodorized’ (‘RBD’) oil and marketed under Chongqing’s well-established “Red Dragon Fly Oil” brand. Initially, Clean Power will supply a portion of the product from its own inventory and a portion from third party suppliers until production increases are performed at its own plant. Upon completion of the upgrades in the production facility, the supply will come solely from Clean Power.
Based on present pricing of $1,320 per metric tonne for crude degummed canola oil and shipments equaling 30,000 metric tonnes per year, Clean Power estimates that the value of this new contract to be approximately $40 million annually. It is important to note that Chongqing is actively operating under an initiative to diversify its suppliers and because this agreement has no termination date, the opportunity is there for possible expansion of business with Chongqing in the future as Chongqing has future business strategies which include large food processing zone in the Chong Quing region of China.
This was a great month for Clean Power Concepts as the Company’s business plans are starting to reach fruition. More information on Clean Power Concepts, Inc. and its operations can be found on the Company’s website at www.cleanpowerconcepts.com
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The month has been chock full of news including record revenues from its operating subsidiary, General Bio Energy, which operates a fully integrated commercial oilseed crushing, bio-diesel refinery, and environmental lubricants manufacturing and bottling plant which is also capable of nutraceutical and food processing. Other highlights have included General Bio Energy acquiring the rights to significant Licensed Technology patents for use at its production facility, launching the “Spirit of Health” brand of natural consumer products, and General Bio Energy being named as one of Canada’s top 50 emerging growth companies by Profit Magazine.
Today, the Company announced a milestone agreement which marks its entry in the Chinese markets for its crude canola oil. The open-ended agreement, in which Clean Power will supply its crude canola oil to Chongqing Grain Group Company Ltd. of China, opens the door to generate sales in excess of $400 million over the next ten years of the contract, according to the Company.
Under the Agreement, Chongqing was committed to purchase up to 3,000 metric tonnes of crude degummed canola oil from General Bio Energy and ship the oil to China where it will be refined into table-ready, ‘Refined Bleached and Deodorized’ (‘RBD’) oil and marketed under Chongqing’s well-established “Red Dragon Fly Oil” brand. Initially, Clean Power will supply a portion of the product from its own inventory and a portion from third party suppliers until production increases are performed at its own plant. Upon completion of the upgrades in the production facility, the supply will come solely from Clean Power.
Based on present pricing of $1,320 per metric tonne for crude degummed canola oil and shipments equaling 30,000 metric tonnes per year, Clean Power estimates that the value of this new contract to be approximately $40 million annually. It is important to note that Chongqing is actively operating under an initiative to diversify its suppliers and because this agreement has no termination date, the opportunity is there for possible expansion of business with Chongqing in the future as Chongqing has future business strategies which include large food processing zone in the Chong Quing region of China.
This was a great month for Clean Power Concepts as the Company’s business plans are starting to reach fruition. More information on Clean Power Concepts, Inc. and its operations can be found on the Company’s website at www.cleanpowerconcepts.com
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Sunvalley Solar, Inc. (SSOL.OB) Teams with TianWei SolarFilms in California
Sunvalley Solar, Inc. is a leading solar power technology and solar system integration firm. The company offers comprehensive solar technology, system design, installation, equipment and technical support for electrical contractors, builders, homeowners, businesses and government entities that assist them in lowering utility bills, reducing environmental impacts and increasing energy reliability and independence.
The company announced yesterday an agreement with its partner Baoding TianWei SolarFilms, a solar thin film supplier in China, to promote thin film solar power systems in Palm Springs, Thermal City and other cities in the eastern Los Angeles area. Since 2010, Sunvalley Solar has worked to bring the power of solar electricity and energy efficiency to farm owners in the area with its Green Farm program.
Sunvalley Solar has found that, in these agricultural locales, thin film modules have better performance in high temperature, desert environments than crystalline modules. The good irradiance conditions in desert areas combined with the thin film technology offered by the company provides an efficient and cost-effective means of solar power for agricultural customers.
TianWei Solar Films and Sunvalley Solar recognize the potentially big opportunities for thin film solar systems in this region of California, especially with the strong solar incentive support from local utility companies. With Sunvalley’s expertise in solar installation and TianWei’s supply of high-quality, low-cost thin film panels, the partners should win many more contracts in the area.
For further information on Sunvalley Solar, visit its website at www.sunvalleysolarinc.com
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The company announced yesterday an agreement with its partner Baoding TianWei SolarFilms, a solar thin film supplier in China, to promote thin film solar power systems in Palm Springs, Thermal City and other cities in the eastern Los Angeles area. Since 2010, Sunvalley Solar has worked to bring the power of solar electricity and energy efficiency to farm owners in the area with its Green Farm program.
Sunvalley Solar has found that, in these agricultural locales, thin film modules have better performance in high temperature, desert environments than crystalline modules. The good irradiance conditions in desert areas combined with the thin film technology offered by the company provides an efficient and cost-effective means of solar power for agricultural customers.
TianWei Solar Films and Sunvalley Solar recognize the potentially big opportunities for thin film solar systems in this region of California, especially with the strong solar incentive support from local utility companies. With Sunvalley’s expertise in solar installation and TianWei’s supply of high-quality, low-cost thin film panels, the partners should win many more contracts in the area.
For further information on Sunvalley Solar, visit its website at www.sunvalleysolarinc.com
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Attunity Ltd. (ATTUF.OB) Joins Forces with Microsoft (MSFT) in Multi-Million Dollar OEM Agreement
Located in Burlington, Massachusetts, Attunity has earned a stellar reputation as a leading provider of real-time data integration and event capture software. Today, Attunity made the announcement that they have signed a multi-million dollar OEM agreement with Microsoft.
According to terms of the deal, Microsoft will provide Attunity’s change data capture (CDC) in Microsoft’s next version of SQL. This will support customer requirements with real time business intelligence as well as cloud computing.
One of the leaders at Microsoft is Denise Draper who serves as the Product Unit Manager at the pioneering company. Commenting on what this agreement will mean to the customers of Microsoft and the industry as a whole, Draper stated, “By making innovative technologies such as Attunity’s CDC available in SQL Server, we are making it easier to use data efficiently, enabling customers to capitalize on the lower cost of ownership of the Microsoft platform and cloud computing.”
Leading the way at Attunity is Shimon Alon who serves as the company’s Chairman and CEO. When asked what this agreement will mean for current and future shareholders of Attunity, Alon was quoted as saying, “This OEM agreement is an important turning point for Attunity. Aside from the strategic importance of this five-year agreement, we expect to receive a significant portion of the payments during 2011 and the balance in quarterly payments starting toward the end of 2012. This will enable us to strengthen our cash position and accelerate our growth by making additional investments in sales, marketing and R&D, as well as target high growth markets such as cloud computing.”
Currently, Attunity is trading in the $0.50 range. With the Microsoft agreement in place and state-of-the-art software solutions in their pipeline, Attunity is a company that institutional investors may soon consider placing in their portfolio.
To learn more about Attunity, visit the company website at www.attunity.com
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According to terms of the deal, Microsoft will provide Attunity’s change data capture (CDC) in Microsoft’s next version of SQL. This will support customer requirements with real time business intelligence as well as cloud computing.
One of the leaders at Microsoft is Denise Draper who serves as the Product Unit Manager at the pioneering company. Commenting on what this agreement will mean to the customers of Microsoft and the industry as a whole, Draper stated, “By making innovative technologies such as Attunity’s CDC available in SQL Server, we are making it easier to use data efficiently, enabling customers to capitalize on the lower cost of ownership of the Microsoft platform and cloud computing.”
Leading the way at Attunity is Shimon Alon who serves as the company’s Chairman and CEO. When asked what this agreement will mean for current and future shareholders of Attunity, Alon was quoted as saying, “This OEM agreement is an important turning point for Attunity. Aside from the strategic importance of this five-year agreement, we expect to receive a significant portion of the payments during 2011 and the balance in quarterly payments starting toward the end of 2012. This will enable us to strengthen our cash position and accelerate our growth by making additional investments in sales, marketing and R&D, as well as target high growth markets such as cloud computing.”
Currently, Attunity is trading in the $0.50 range. With the Microsoft agreement in place and state-of-the-art software solutions in their pipeline, Attunity is a company that institutional investors may soon consider placing in their portfolio.
To learn more about Attunity, visit the company website at www.attunity.com
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GenVec, Inc. (GNVC) Announces Partnership with World-Leading Animal Health Company
Today, GenVec, Inc. announced that it will be working with Merial to develop and commercialize GenVec’s proprietary vaccine technology for use against foot-and-mouth disease (FMD). The leading FMD vaccine producer in the world, Merial has leading positions in all key markets. Under the agreement, Merial will be responsible for all costs related to the development and commercialization of FMD vaccines developed through the collaboration.
GenVec’s novel FMD vaccine approach utilizes the company’s proprietary adenovector technology. The vaccine is manufactured on a proprietary GenVec cell line that is capable of producing antigens without the use of the highly contagious FMD virus. Because the vaccine is produced without using live or killed virus materials, it can be produced cost effectively across the globe.
“We look forward to working with GenVec to explore this promising technology for FMD vaccines,” stated Teshome Mebatsion, Senior Director Vector Vaccine Research, Merial. Robert Nordgren, Global Head of Merial’s Bio R&D added that “Merial sees great potential for GenVec’s technology to positively impact the way that animal vaccines are produced and developed.”
“Our relationship with Merial complements our strategy of entering into collaborations to support the development of our pipeline of products,” commented Dr. Paul Fischer, GenVec’s President and Chief Executive Officer.
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GenVec’s novel FMD vaccine approach utilizes the company’s proprietary adenovector technology. The vaccine is manufactured on a proprietary GenVec cell line that is capable of producing antigens without the use of the highly contagious FMD virus. Because the vaccine is produced without using live or killed virus materials, it can be produced cost effectively across the globe.
“We look forward to working with GenVec to explore this promising technology for FMD vaccines,” stated Teshome Mebatsion, Senior Director Vector Vaccine Research, Merial. Robert Nordgren, Global Head of Merial’s Bio R&D added that “Merial sees great potential for GenVec’s technology to positively impact the way that animal vaccines are produced and developed.”
“Our relationship with Merial complements our strategy of entering into collaborations to support the development of our pipeline of products,” commented Dr. Paul Fischer, GenVec’s President and Chief Executive Officer.
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Radient Pharmaceuticals Corp. (RPC) Inks 5-Year Agreement with Hong Kong Based Distributor
Through its subsidiary AMDL Diagnostics Inc., Radient Pharmaceuticals Corp. today announced it has entered into a full-service five-year exclusive distribution agreement with Hong Kong based Bio-Asia Diagnostics Co. Ltd. (Bio-Asia). This distribution agreement will enable Radient Pharmaceuticals to bring its Onko-Sure™ IVD cancer test into the Hong Kong healthcare market.
According to the terms of the agreement, Bio-Asia will purchase at least 800 Onko-Sure® test kits. Bio-Asia will be responsible for providing marketing, sales, and distribution services to get Onko-Sure in major diagnostic centers, clinical reference labs, and hospitals in Hong Kong. Additionally, Bio-Asia will reach out to hospitals and cancer research centers in the PRC to provide Onko-Sure® test kits for RUO purposes. Bio-Asia has a network of over 300 major hospitals in Hong Kong and the PRC.
RPC’s Chairman and CEO Douglas MacLellan stated, “This announcement represents a strategic advancement in the global commercialization of our Onko-Sure® cancer test. Hong Kong provides an excellent market for diagnostic tests and Bio-Asia is a leading distribution company there as well as in the PRC. Support from international distributors, including Bio-Asia, is key to the long-term growth of Radient and we are excited to add them to our growing list of distribution partners. Through such partnerships RPC is making substantial progress in meeting global demand for cancer testing.”
MacLellan added, “Beginning 2011, committed minimums for Hong Kong plus RUO sales in the PRC are anticipated to generate over $200,000 USD annually. We appreciate the confidence Bio-Asia has demonstrated in RPC and we will support their efforts to continue to aggressively expand distribution throughout this important territory.”
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According to the terms of the agreement, Bio-Asia will purchase at least 800 Onko-Sure® test kits. Bio-Asia will be responsible for providing marketing, sales, and distribution services to get Onko-Sure in major diagnostic centers, clinical reference labs, and hospitals in Hong Kong. Additionally, Bio-Asia will reach out to hospitals and cancer research centers in the PRC to provide Onko-Sure® test kits for RUO purposes. Bio-Asia has a network of over 300 major hospitals in Hong Kong and the PRC.
RPC’s Chairman and CEO Douglas MacLellan stated, “This announcement represents a strategic advancement in the global commercialization of our Onko-Sure® cancer test. Hong Kong provides an excellent market for diagnostic tests and Bio-Asia is a leading distribution company there as well as in the PRC. Support from international distributors, including Bio-Asia, is key to the long-term growth of Radient and we are excited to add them to our growing list of distribution partners. Through such partnerships RPC is making substantial progress in meeting global demand for cancer testing.”
MacLellan added, “Beginning 2011, committed minimums for Hong Kong plus RUO sales in the PRC are anticipated to generate over $200,000 USD annually. We appreciate the confidence Bio-Asia has demonstrated in RPC and we will support their efforts to continue to aggressively expand distribution throughout this important territory.”
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Cogo Group, Inc. (COGO) to Complete Acquisition Next Quarter
Cogo Group, Inc., a leading provider of customized module and subsystem design solutions in China, announced that it intends to acquire certain businesses of MDC Tech, Inc. The businesses will be merged into Cogo’s existing Industrials business, which is currently the company’s fastest growing business segment. A technology solutions and engineering services company with most of its operations in China, MDC Tech focuses on two of the fastest growing industrial markets in China: the Smart Grid roll-out and Medical Equipment.
Anticipated to close in the first quarter of 2011, the deal will likely be an all-cash transaction of $22 million that will be paid over several quarters. According to the press release, it is currently expected that MDC will contribute revenue of approximately $15 to $20 million and $2 to $2.5 million in operating income in the first four quarters after closing. Because MDC has large existing contracts in place and the integration will require limited upfront investment, it is anticipated that the deal will be instantly accretive to Cogo’s earnings. Recognizing MDC’s contract pipeline and the expected ability to leverage these assets across its base of 1,500 customers, Cogo expects to grow MDC’s sales at an anticipated 20% compounded annual growth rate (“CAGR”) over the next five years.
“The acquisition of MDC enhances our already strong position in the Smart Grid roll-out and puts us in the sweet spot of China’s healthcare reform,” stated Jeffrey Kang, CEO of Cogo Group. “Total spending on the Smart Grid is expected to reach $300 million over the next five years and $125 billion for Healthcare in the next three years. We anticipate this deal will allow us to move ‘upstream’ in some cases and focus more on broad solutions and sub assembly design and servicing.”
“After the close of this deal, we will be increasingly well-positioned to take advantage of the massive spending anticipated in China, including the 10-year plan to complete a unified, national Smart Grid system, a nationwide infrastructure for high-speed Railways, and an upgrade of the country’s Healthcare system to universal coverage,” added Jeffrey Kang. “We are now sitting in the sweet spot of all of these end markets, and we expect to expand our share in these segments and add new Industrial verticals as we move through 2011.”
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Anticipated to close in the first quarter of 2011, the deal will likely be an all-cash transaction of $22 million that will be paid over several quarters. According to the press release, it is currently expected that MDC will contribute revenue of approximately $15 to $20 million and $2 to $2.5 million in operating income in the first four quarters after closing. Because MDC has large existing contracts in place and the integration will require limited upfront investment, it is anticipated that the deal will be instantly accretive to Cogo’s earnings. Recognizing MDC’s contract pipeline and the expected ability to leverage these assets across its base of 1,500 customers, Cogo expects to grow MDC’s sales at an anticipated 20% compounded annual growth rate (“CAGR”) over the next five years.
“The acquisition of MDC enhances our already strong position in the Smart Grid roll-out and puts us in the sweet spot of China’s healthcare reform,” stated Jeffrey Kang, CEO of Cogo Group. “Total spending on the Smart Grid is expected to reach $300 million over the next five years and $125 billion for Healthcare in the next three years. We anticipate this deal will allow us to move ‘upstream’ in some cases and focus more on broad solutions and sub assembly design and servicing.”
“After the close of this deal, we will be increasingly well-positioned to take advantage of the massive spending anticipated in China, including the 10-year plan to complete a unified, national Smart Grid system, a nationwide infrastructure for high-speed Railways, and an upgrade of the country’s Healthcare system to universal coverage,” added Jeffrey Kang. “We are now sitting in the sweet spot of all of these end markets, and we expect to expand our share in these segments and add new Industrial verticals as we move through 2011.”
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Solar Power, Inc. (SOPW.OB) Contracted to Build/Service Major New US Solar Plant, a 5 Megawatt Rooftop Installation in New Jersey
Solar Power, Inc., www.solarpowerinc.net – the aptly named developer of world-class solar modules, balance-of-system products and lifecycle-implemented total solar solutions, announced entry into a construction contract today to create a 5 MW (megawatt) rooftop system for the KTR Capital Partners-owned, White Rose, Inc. distribution warehouse located in Carteret, New Jersey.
NuGen Capital Management, LLC and KDC Solar LLC, formed a joint venture which will own and operate the system, and selected SOPW as the EPC (engineering, procurement and construction) contractor, also tagging the Company for servicing/monitoring of the system.
Because SOPW solar solutions come from a vertically integrated production pipeline and the Company is widely-known for being able to manage a solution throughout its lifecycle, from materials, to manufacturing and post-installation care, the selection was a natural one.
Chairman and CEO of SOPW, Steve Kircher, noted utilization of the Company’s own solar modules and revolutionary SkyMount® racking system in the project, which features extremely robust materials for maximum resilience, easy snap-in design and performance-optimizing mounting capabilities.
Kircher stressed the significance of this project, both for SOPW and America, as the White Rose installation would be one of the largest systems of its type in the nation.
A targeted date of January 2011 has been schedule for commencement of the project and current estimates indicate that it should be complete sometime early in the second half of 2011.
Kircher also indicated that this project affords SOPW greater momentum in the Northeastern markets, where the Company’s unique portfolio of core competencies can be showcased via what is ultimately an ideal model, where the products, system design and construction will all boldly advertise SOPW’s ability to put MWs of solar power into production.
CEO of NuGen, David Milner, underscored the utility of SOPW’s “highly adaptable SkyMount racking system” for a project of this “scope and scale”, emphasized the importance of research and due diligence on behalf of all parties involved and expressed pleasure at the deal with SOPW, tipping his hat regarding future deals in the Northeast.
The White Rose Food building in Carteret, New Jersey serves as corporate offices and a major distribution hub. White Rose services over 1,800 stores ranging from supermarket chains, to retailers and co-ops with over 18k products (food- and non-food), has a huge footprint from Maryland to Connecticut and is the largest independent wholesale food distributor in NYC and New Jersey.
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NuGen Capital Management, LLC and KDC Solar LLC, formed a joint venture which will own and operate the system, and selected SOPW as the EPC (engineering, procurement and construction) contractor, also tagging the Company for servicing/monitoring of the system.
Because SOPW solar solutions come from a vertically integrated production pipeline and the Company is widely-known for being able to manage a solution throughout its lifecycle, from materials, to manufacturing and post-installation care, the selection was a natural one.
Chairman and CEO of SOPW, Steve Kircher, noted utilization of the Company’s own solar modules and revolutionary SkyMount® racking system in the project, which features extremely robust materials for maximum resilience, easy snap-in design and performance-optimizing mounting capabilities.
Kircher stressed the significance of this project, both for SOPW and America, as the White Rose installation would be one of the largest systems of its type in the nation.
A targeted date of January 2011 has been schedule for commencement of the project and current estimates indicate that it should be complete sometime early in the second half of 2011.
Kircher also indicated that this project affords SOPW greater momentum in the Northeastern markets, where the Company’s unique portfolio of core competencies can be showcased via what is ultimately an ideal model, where the products, system design and construction will all boldly advertise SOPW’s ability to put MWs of solar power into production.
CEO of NuGen, David Milner, underscored the utility of SOPW’s “highly adaptable SkyMount racking system” for a project of this “scope and scale”, emphasized the importance of research and due diligence on behalf of all parties involved and expressed pleasure at the deal with SOPW, tipping his hat regarding future deals in the Northeast.
The White Rose Food building in Carteret, New Jersey serves as corporate offices and a major distribution hub. White Rose services over 1,800 stores ranging from supermarket chains, to retailers and co-ops with over 18k products (food- and non-food), has a huge footprint from Maryland to Connecticut and is the largest independent wholesale food distributor in NYC and New Jersey.
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ZAP (ZAAP.OB) Video Chart for Wednesday, December 29, 2010
ZAAP is in a bullish position after a retrace following a large move in November. The price per share is pinned right at old highs with the indicators giving hints that the price per share may take out the top and create a new high.
To view the video chart, visit the following link: http://www.qualitystocks.net/videocharts.php
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To view the video chart, visit the following link: http://www.qualitystocks.net/videocharts.php
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Power Efficiency Corp. (PEFF.OB) Receives Patent for E-Save Technology System
Today, Power Efficiency Corp., a clean tech company focused on efficiency technology for electric motors, announced that the U.S. Patent and Trademark Office has granted the company a patent for a core algorithm used in its revolutionary E-Save Technology®. The patent encompasses the method, system and apparatus for controlling electric motors and optimizing their energy use.
Power Efficiency developed its E-Save Technology platform to reduce electric motor energy consumption. Electric motors usually are sized for the worst case operating conditions of the equipment it powers. Typically, it is common to see a motor operate at less than 40% of the rated load for significant periods of time. E-Save Technology allows for variation in the load profile and adjusts the amount of energy required to optimize the energy use of the motor. Results have shown an energy savings of about 35% in appropriate applications.
“This is a very important patent for Power Efficiency,” said Steve Strasser, Chairman and CEO of Power Efficiency Corporation. “This patent covers the core control algorithm for reducing electricity use by an electric motor when it is lightly loaded and so is an integral part of our E-Save Technology platform. We are extremely proud of this technology because of the significant savings it creates for applications driven by Alternating Current Induction Motors, the workhorses of industrial and commercial equipment throughout the world. This is the second patent the company has been granted to date as part of its E-Save Technology platform.”
With its 3-phase Motor Efficiency Controllers, Power Efficiency has established itself in the vertical transportation market, with numerous high profile installations at large airports, transit systems, entertainment complexes and even in the U.S. Capitol Complex. The company is also working with several large end users, OEMs and distributors to increase its participation in industrial markets.
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Power Efficiency developed its E-Save Technology platform to reduce electric motor energy consumption. Electric motors usually are sized for the worst case operating conditions of the equipment it powers. Typically, it is common to see a motor operate at less than 40% of the rated load for significant periods of time. E-Save Technology allows for variation in the load profile and adjusts the amount of energy required to optimize the energy use of the motor. Results have shown an energy savings of about 35% in appropriate applications.
“This is a very important patent for Power Efficiency,” said Steve Strasser, Chairman and CEO of Power Efficiency Corporation. “This patent covers the core control algorithm for reducing electricity use by an electric motor when it is lightly loaded and so is an integral part of our E-Save Technology platform. We are extremely proud of this technology because of the significant savings it creates for applications driven by Alternating Current Induction Motors, the workhorses of industrial and commercial equipment throughout the world. This is the second patent the company has been granted to date as part of its E-Save Technology platform.”
With its 3-phase Motor Efficiency Controllers, Power Efficiency has established itself in the vertical transportation market, with numerous high profile installations at large airports, transit systems, entertainment complexes and even in the U.S. Capitol Complex. The company is also working with several large end users, OEMs and distributors to increase its participation in industrial markets.
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Total Nutraceutical Solutions (TNUS.OB) and Koch International Sign Distribution Agreement
Yesterday, Total Nutraceutical Solutions (“TNS”) announced that they have entered into an exclusive agreement with Koch International of Seoul, Korea for TNS dietary supplements. Koch, with experience in marketing via radio, television, newspapers and the internet, will be promoting TNS products in the expanding health care product market of Korea.
TNS is a biotechnology research company focused on mushroom research and development, as well as their discovery and use in food and health care products, including preventative health care formulations. The company is also involved in the areas of animal husbandry and livestock feeds.
Despite an economic downturn in Korea, consumers in that country continue to buy over the counter natural dietary supplements regularly. This will be the market Koch hopes to capitalize on with an aggressive push to establish the TNS brand. TNS and Koch have engaged E-ZRA to register TNS products as functional foods with the Korea Food and Drug Administration. E-ZRA has 20 years of experience with such regulatory matters and will also act as a consultant.
Suk Whan Chang, a principal and founder of Koch, is a graduate of both MIT and the Slaon School of Management. Regarding the agreement, Chang stated, “We are extremely excited about the opportunity to introduce and distribute natural organic mushroom-based dietary supplements to a growing population of health conscious Korean consumers. Our networks of sales and marketing partners are keen to help distribute these products throughout Korea.”
“The Korean distribution agreement represents a significant event in the TNS aggressive growth strategy as our company moves our portfolio of health care products into international markets,” stated Marvin S. Hausman MD, CEO of TNS. “We believe that the TNS-Koch partnership will lead to increased sales and revenues for both companies.”
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TNS is a biotechnology research company focused on mushroom research and development, as well as their discovery and use in food and health care products, including preventative health care formulations. The company is also involved in the areas of animal husbandry and livestock feeds.
Despite an economic downturn in Korea, consumers in that country continue to buy over the counter natural dietary supplements regularly. This will be the market Koch hopes to capitalize on with an aggressive push to establish the TNS brand. TNS and Koch have engaged E-ZRA to register TNS products as functional foods with the Korea Food and Drug Administration. E-ZRA has 20 years of experience with such regulatory matters and will also act as a consultant.
Suk Whan Chang, a principal and founder of Koch, is a graduate of both MIT and the Slaon School of Management. Regarding the agreement, Chang stated, “We are extremely excited about the opportunity to introduce and distribute natural organic mushroom-based dietary supplements to a growing population of health conscious Korean consumers. Our networks of sales and marketing partners are keen to help distribute these products throughout Korea.”
“The Korean distribution agreement represents a significant event in the TNS aggressive growth strategy as our company moves our portfolio of health care products into international markets,” stated Marvin S. Hausman MD, CEO of TNS. “We believe that the TNS-Koch partnership will lead to increased sales and revenues for both companies.”
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Advanced Voice Recognition Systems (AVOI.OB) Patented Technology Introduced Next Generation Interaction with Technology
It has been argued that the single biggest limiting factor in personal computer utilization is the user interface. While processing speed and memory have exploded over the past decades, most people still peck away at keyboards, entering text the same way and at the same rate they did 30 years ago. Although the Graphical User Interface has greatly reduced the need for text entry in system and application commands, the keyboard is still king when it comes to the entry of textual content. And, since content is largely what people depend upon computers and the Internet for, the need for a more efficient way to get information from the human brain to the computer is a long established quest.
At the top of the interface wish-list is Automatic Speech Recognition (ASR), the ability to turn speech into written text, Although companies have been working at speech recognition for many years, the technology is now finally approaching the point where its full potential is within reach. Recent breakthroughs now allow accurate ASR speeds of up to 160 words per minute, making it realistic to apply the technology where it has never been used before. The development could save time and money for medical, legal, and government agencies alone, and is already revolutionizing things like voicemail and mobile messaging.
Advanced Voice Recognition Systems (AVOI.OB) is an Arizona company whose technology was first introduced at a 1994 industry trade show. The company has a patent based upon word tagging and editing technology for speech recognition that may cover many ASR market participants. The potential for licensing revenue is unknown. The company’s strategy is to pursue license agreements and/or strategic relationships with other companies.
For more information on Advanced Voice Recognition Systems, visit the company’s website at www.AVRSys.com
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At the top of the interface wish-list is Automatic Speech Recognition (ASR), the ability to turn speech into written text, Although companies have been working at speech recognition for many years, the technology is now finally approaching the point where its full potential is within reach. Recent breakthroughs now allow accurate ASR speeds of up to 160 words per minute, making it realistic to apply the technology where it has never been used before. The development could save time and money for medical, legal, and government agencies alone, and is already revolutionizing things like voicemail and mobile messaging.
Advanced Voice Recognition Systems (AVOI.OB) is an Arizona company whose technology was first introduced at a 1994 industry trade show. The company has a patent based upon word tagging and editing technology for speech recognition that may cover many ASR market participants. The potential for licensing revenue is unknown. The company’s strategy is to pursue license agreements and/or strategic relationships with other companies.
For more information on Advanced Voice Recognition Systems, visit the company’s website at www.AVRSys.com
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Tuesday, December 28, 2010
Lucas Energy, Inc. (LEI) Raises Capital in Equity Offering
Lucas Energy, Inc. announced an agreement to raise capital through the sale of common stock and warrants in a direct registered offering to a group of institutional investors. The deal is expected to close before the end of 2010.
Lucas Energy, Inc. will issue 2.5 million units at a price of $2.38 per unit, raising approximately $5.6 million in net proceeds for the company after commissions and expenses.
One of the institutional investors associated with the deal is Hall Phoenix Inwood Ltd., which is owned by Hall Phoenix Energy, LLC. This entity is involved in a joint venture with Lucas Energy, Inc. that is developing properties in Texas which are prospective for the Eagle Ford Shale. Lucas Energy, Inc. said that the proceeds would be used to fund the company’s oil and gas development program in 2011.
Lucas Energy, Inc. reported that each unit issued by the company is composed of one common share of stock, a Series A warrant and a Series B warrant. The warrants entitle the holder to purchase additional shares of common stock at a specified price within a specific time frame. Lucas Energy, Inc. said that if all the warrants are exercised, the company would receive approximately $18 million in proceeds.
For more information on the company, go to www.lucasenergy.com
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Lucas Energy, Inc. will issue 2.5 million units at a price of $2.38 per unit, raising approximately $5.6 million in net proceeds for the company after commissions and expenses.
One of the institutional investors associated with the deal is Hall Phoenix Inwood Ltd., which is owned by Hall Phoenix Energy, LLC. This entity is involved in a joint venture with Lucas Energy, Inc. that is developing properties in Texas which are prospective for the Eagle Ford Shale. Lucas Energy, Inc. said that the proceeds would be used to fund the company’s oil and gas development program in 2011.
Lucas Energy, Inc. reported that each unit issued by the company is composed of one common share of stock, a Series A warrant and a Series B warrant. The warrants entitle the holder to purchase additional shares of common stock at a specified price within a specific time frame. Lucas Energy, Inc. said that if all the warrants are exercised, the company would receive approximately $18 million in proceeds.
For more information on the company, go to www.lucasenergy.com
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Simulated Environment Concepts, Inc. (SMEV.PK) Offers Exceptional Opportunity For Growth
With certain industries there is one top-of-the-line product, and then there is everything else. Such is the case with SpaCapsule®, the self-contained personal sensory environment and anti-stress hydro-massage system offered by Simulated Environment Concepts (SE Concepts).
Although not the first system of its kind, SpaCapsule clearly stands alone in its superior design and functionality. Protected by various American and international patents, there’s simply nothing quite like it, a uniquely integrated combination of hydro massage, audio/visual stimulation, and aroma therapy. As a result, SE Concepts is expected to see explosive growth over the next few years, as the company cashes in on its unmatched position in an expanding industry.
• SpaCapsule is the only system of its kind that has a dual barrier between the water jets and the user, allowing for higher water velocity and a much deeper massage.
• Unlike other offerings, SpaCapsule provides a top-down massage, simulating a natural hands-on experience, and doing a far better job of enhancing circulation and muscle oxygenation.
• SpaCapsule’s computerized controls and software lets every user custom program (and store) all sensory elements of the system.
• Aroma therapy and other components are designed and built in to the system, as opposed to being inferior add-ons.
• SpaCapsule is the only system of its kind actually conceived and designed by doctors.
But the individual differentiating features offered by SpaCapsule are not as significant by themselves as when considered together. It’s the elegantly engineered integration that sets the product apart from anything else in the field, elevating SpaCapsule to a different level. Designed from the ground up by doctors and a team of engineers recruited from high-profile companies, SpaCapsule has redefined the industry and given SEC an exceptional opportunity for expansion. Through its international marketing campaign, the company is getting orders from all over the world.
For more information, visit www.spacapsule.com and the corporate website at www.seccorporation.com
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Although not the first system of its kind, SpaCapsule clearly stands alone in its superior design and functionality. Protected by various American and international patents, there’s simply nothing quite like it, a uniquely integrated combination of hydro massage, audio/visual stimulation, and aroma therapy. As a result, SE Concepts is expected to see explosive growth over the next few years, as the company cashes in on its unmatched position in an expanding industry.
• SpaCapsule is the only system of its kind that has a dual barrier between the water jets and the user, allowing for higher water velocity and a much deeper massage.
• Unlike other offerings, SpaCapsule provides a top-down massage, simulating a natural hands-on experience, and doing a far better job of enhancing circulation and muscle oxygenation.
• SpaCapsule’s computerized controls and software lets every user custom program (and store) all sensory elements of the system.
• Aroma therapy and other components are designed and built in to the system, as opposed to being inferior add-ons.
• SpaCapsule is the only system of its kind actually conceived and designed by doctors.
But the individual differentiating features offered by SpaCapsule are not as significant by themselves as when considered together. It’s the elegantly engineered integration that sets the product apart from anything else in the field, elevating SpaCapsule to a different level. Designed from the ground up by doctors and a team of engineers recruited from high-profile companies, SpaCapsule has redefined the industry and given SEC an exceptional opportunity for expansion. Through its international marketing campaign, the company is getting orders from all over the world.
For more information, visit www.spacapsule.com and the corporate website at www.seccorporation.com
About QualityStocks:
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.
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Solar Energy Initiatives (SNRY.OB) Signs $1.2 Million Letter of Intent for Solar PV PPA Project
Solar Energy Initiatives, Inc. announced this morning that they have inked a Letter of Intent (LOI) to complete a solar PV PPA project with a Delaware Charter School. This project is expected to generate approximately $1.2 million in revenue for the Company with the anticipated completion date slated for the fall of 2011.
Solar Energy Initiatives will serve as the developer for the project, which is designed to reduce carbon dioxide emissions by 500 tons per year. The system is planned for up to 300 kilowatts of roof-mounted solar panels and will require over 1,300 solar panels to complete. As developer, Solar Energy Initiatives will oversee the construction process and provide all of the solar equipment and balance of system to the commercial site. Much like other projects developed by the Company, revenues should be generated not only from the sales, service and construction of the system, but also from the management and sale of the solar electricity generated. In order to launch the new system, the Company intends to partner with both a major funding source and a recognized local solar installer.
Six days ago, Solar Energy Initiatives released its financial results for the three months ended October 31, 2010, which was highlighted by a significant reduction in monthly burn rate. While gross profits from operations for the three months in 2010 totaled $140,404 as compared to $261,534 for the same period in 2009, the Company announced that a sizeable reduction in expenditures will be realized in 2011 as it has reduced headcount, consulting agreements, rented space, and other items resulting in savings of over $63,000 per month.
Additionally, the quarter featured signed Power Purchase Agreements (PPAs) with the Tennessee Valley Authority (“TVA”) to build 2.0 MWs of projects with municipal and institutional clients. Under the completed agreements, TVA has agreed to purchase all of the power the systems produce, as well as the associated environmental benefits. Solar Energy Initiatives, Inc. will lead the project development effort, including system design, installation and operation of the proposed 2.0 megawatts of photovoltaic systems on the sites.
The Company is also moving forward with milestone developments with its subsidiary, Solar EOS Group, which is dedicated to the education and continuous improvement of solar energy trade professionals. Quarter highlights for this component included it being approved by the Florida Department of Business and Professional Regulation to provide Continuing Education for Electrical Contractors and the Company receiving approval to open its solar technical training school in South Carolina.
As Solar Energy Initiatives continues to both refine and expand its business strategies, the Ponte Vedra Beach, Florida-based organization may be a company that gains the attention of traders on a larger scale in 2011. With only 41 million shares outstanding, SNRY is trading near 52-week lows in the area of 4 cents whereas it was nearly trading at 20 cents in October. It can be anticipated that investors will be keeping their eyes open for more deals of this caliber in the coming months.
More information on Solar Energy Initiatives, Inc., its projects and business strategies can be found on the Company’s website at www.solarenergy.com
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Solar Energy Initiatives will serve as the developer for the project, which is designed to reduce carbon dioxide emissions by 500 tons per year. The system is planned for up to 300 kilowatts of roof-mounted solar panels and will require over 1,300 solar panels to complete. As developer, Solar Energy Initiatives will oversee the construction process and provide all of the solar equipment and balance of system to the commercial site. Much like other projects developed by the Company, revenues should be generated not only from the sales, service and construction of the system, but also from the management and sale of the solar electricity generated. In order to launch the new system, the Company intends to partner with both a major funding source and a recognized local solar installer.
Six days ago, Solar Energy Initiatives released its financial results for the three months ended October 31, 2010, which was highlighted by a significant reduction in monthly burn rate. While gross profits from operations for the three months in 2010 totaled $140,404 as compared to $261,534 for the same period in 2009, the Company announced that a sizeable reduction in expenditures will be realized in 2011 as it has reduced headcount, consulting agreements, rented space, and other items resulting in savings of over $63,000 per month.
Additionally, the quarter featured signed Power Purchase Agreements (PPAs) with the Tennessee Valley Authority (“TVA”) to build 2.0 MWs of projects with municipal and institutional clients. Under the completed agreements, TVA has agreed to purchase all of the power the systems produce, as well as the associated environmental benefits. Solar Energy Initiatives, Inc. will lead the project development effort, including system design, installation and operation of the proposed 2.0 megawatts of photovoltaic systems on the sites.
The Company is also moving forward with milestone developments with its subsidiary, Solar EOS Group, which is dedicated to the education and continuous improvement of solar energy trade professionals. Quarter highlights for this component included it being approved by the Florida Department of Business and Professional Regulation to provide Continuing Education for Electrical Contractors and the Company receiving approval to open its solar technical training school in South Carolina.
As Solar Energy Initiatives continues to both refine and expand its business strategies, the Ponte Vedra Beach, Florida-based organization may be a company that gains the attention of traders on a larger scale in 2011. With only 41 million shares outstanding, SNRY is trading near 52-week lows in the area of 4 cents whereas it was nearly trading at 20 cents in October. It can be anticipated that investors will be keeping their eyes open for more deals of this caliber in the coming months.
More information on Solar Energy Initiatives, Inc., its projects and business strategies can be found on the Company’s website at www.solarenergy.com
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Gasoline Prices Rise to a Seasonal Record
Oil prices fell from a two-year high on Monday after China announced its second interest rate hike since October to control inflation. Oil prices fell on concerns over a slowdown in China’s booming economy. China is now the world’s second largest consumer of oil, next to the United States, and its rate of oil usage is growing faster than that of the US.
However, it is a different story for gasoline prices, which continued to climb higher. Nationwide, the average price for a gallon of a gasoline rose to $3.052. A year earlier, pump prices nationally were 44.5 cents lower. Tom Kloza – the chief oil analyst for the energy information firm, Oil Price Information Service – said “We will end the year with the highest prices ever for this week.”
Year-end retail gasoline were last this high in 2007, when the national average was $3.053 on December 31. Mr. Kloza went on to say that he expects a break for consumers in prices at the pump after the new year. But he cautioned that, between March and May, gasoline prices will range from $3.25 to $3.75 nationally, with the higher prices being seen in California.
He believes that we will not see the pattern repeat the 2008 pattern. By July 7, 2008, the national average for a gallon of gasoline at the retail level had soared to $4.114. As Mr. Kloza said, “In 2008, we lost our collective heads, from Wall Street to Main Street. That will not happen again. Well, I hope not!”
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However, it is a different story for gasoline prices, which continued to climb higher. Nationwide, the average price for a gallon of a gasoline rose to $3.052. A year earlier, pump prices nationally were 44.5 cents lower. Tom Kloza – the chief oil analyst for the energy information firm, Oil Price Information Service – said “We will end the year with the highest prices ever for this week.”
Year-end retail gasoline were last this high in 2007, when the national average was $3.053 on December 31. Mr. Kloza went on to say that he expects a break for consumers in prices at the pump after the new year. But he cautioned that, between March and May, gasoline prices will range from $3.25 to $3.75 nationally, with the higher prices being seen in California.
He believes that we will not see the pattern repeat the 2008 pattern. By July 7, 2008, the national average for a gallon of gasoline at the retail level had soared to $4.114. As Mr. Kloza said, “In 2008, we lost our collective heads, from Wall Street to Main Street. That will not happen again. Well, I hope not!”
About QualityStocks:
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.
Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net
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Spartan Gold Ltd. (SPAG) Secures Premium Gold Acreage in Nevada
Spartan Gold, www.spartangoldltd.com – the aggressive junior gold developer focused on Alabama and Nevada, reported execution yesterday of an option and mining claim acquisition agreement with Mexivada Mining Corporation for a premium, 1,140-acre site in Nevada called the Ziggurat gold property.
Main features of the property include:
• Located within the prolific Round Mountain-Northumberland Mining area in the northern part of Nevada’s Nye County
• National Instrument (NI) 43-101 technical report indicates Carlin-type mineralization (finely dispersed gold with some silver)
• NI 43-101 report also indicates geophysical/geological characteristics similar to other major mines in the area like the massive Round Mountain (15M+ oz Au) and Gold Hill operated by Kinross-Barrick, and Fronteer Gold’s Northumberland (3M+ oz Au) gold mine
• 57 unpatented lode mining claims (1.14k acres)
The agreement (full term disclosure in the filed Form 8K) allows SPAG and its joint venture partner, Canada-based mining investment firm Sphere Resources, Inc., to share a 70% interest in the property equally and calls for:
• First stage exploration financing to be handled by SPAG
• Subsequent feasibility study to be handled by Sphere
Analysis indicates abundant potential for an open-pit operation focused on the Carlin-type mineralization and the Company is looking to identify a Multi-Million Ounce resource via a planned, two-phase exploration program consisting of drilling and further technical analysis.
Chairman and CEO of SPAG, Malcolm Stevens, emphasized proximity to other major gold production operations and the similarities in underlying geologic makeup, calling the acquisition a huge boon for the Company as it can expand its Nevada footprint substantially.
President and CEO of Mexivada, Richard Redfern, expressed his great pleasure at continuing to do business with SPAG, conveying a strong sense of the profitability that future exploration and production may soon realize.
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Main features of the property include:
• Located within the prolific Round Mountain-Northumberland Mining area in the northern part of Nevada’s Nye County
• National Instrument (NI) 43-101 technical report indicates Carlin-type mineralization (finely dispersed gold with some silver)
• NI 43-101 report also indicates geophysical/geological characteristics similar to other major mines in the area like the massive Round Mountain (15M+ oz Au) and Gold Hill operated by Kinross-Barrick, and Fronteer Gold’s Northumberland (3M+ oz Au) gold mine
• 57 unpatented lode mining claims (1.14k acres)
The agreement (full term disclosure in the filed Form 8K) allows SPAG and its joint venture partner, Canada-based mining investment firm Sphere Resources, Inc., to share a 70% interest in the property equally and calls for:
• First stage exploration financing to be handled by SPAG
• Subsequent feasibility study to be handled by Sphere
Analysis indicates abundant potential for an open-pit operation focused on the Carlin-type mineralization and the Company is looking to identify a Multi-Million Ounce resource via a planned, two-phase exploration program consisting of drilling and further technical analysis.
Chairman and CEO of SPAG, Malcolm Stevens, emphasized proximity to other major gold production operations and the similarities in underlying geologic makeup, calling the acquisition a huge boon for the Company as it can expand its Nevada footprint substantially.
President and CEO of Mexivada, Richard Redfern, expressed his great pleasure at continuing to do business with SPAG, conveying a strong sense of the profitability that future exploration and production may soon realize.
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QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.
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Looking Back at 5 Great Stock Picks of 2010
The rebound the stock market made from the lows in March of 2009 has led to some very productive stock picks for 2010. The Dow Jones Industrial Average was at 6,500 points back in March of 2009, and in just over a year and a half, it added 5,000 points. That leap of 77% was something no one saw coming, and yet, some micro and small cap stocks saw even higher returns in 2010 alone.
Colfax Corporation, ticker symbol CFX, started 2010 at a share price of $12.04, and was right on the border between a micro cap and a small cap stock. Over the course of 2010, Colfax Corporation, a manufacturer of fluid handling systems, shot up 54% to over $18.50 a share. This move in 2010 brought Colfax Corporation to a market cap of over $800 million, making it a solid small cap stock well on its way to mid cap status.
IMAX Corporation, ticker symbol IMAX, began 2010 at a share price of $13.31, already having experienced a significant jump in 2009. IMAX was not finished rising, as it more than doubled in 2010, rising 101% to a share price of over $26.70. Doubling their stock price brought IMAX from around a one billion dollar market cap to almost 2 billion dollars, making it one of the more prominent small cap stocks.
Coinstar Incorporated, ticker symbol CSTR, began 2010 at a share price of $27.78. On 2009, Coinstar had bought out DVD kiosk company Redbox, and the benefits of that acquisition were made manifest in 2010. Coinstar’s stock price saw an increase of over 117%, to a price of over $60 per share mainly due to increasing financial strength. A red hot stock pick in 2010 indeed, as Coinstar has propelled itself from a low small cap stock to one of the more solid small cap stocks traded on the market today.
The Boston Beer Company Incorporated, ticker symbol SAM, saw a dramatic increase in its stock price during 2010. The brewer of the Sam Adams line of beer started the year at a share price of around $46 per share. Over the course of 2010, The Boston Beer Company more than doubled its share price, increasing over 113% to a share price just south of $100. Thanks to outstanding financial production in 2010, The Boston Beer Company made its case as one of the most profitable stock picks in the small cap class.
California Pizza Kitchen Incorporated, ticker symbol CPKI, also benefited from a bullish stock market in 2010. Starting the year at a stock price of $13.45 per share, California Pizza Kitchen saw an increase of over 31% to a price of more than $17.50 per share. The pizza chain operates over 250 franchised locations in 32 states, and has room to grow its restaurant presence. California Pizza Kitchen also has a good share of the frozen pizza market, with their pizzas being sold in supermarkets across the country.
As can be easily seen, 2010 was an excellent year for stocks, and small cap stocks especially. Looking forward to 2011, there is room for many stocks to maintain their upward momentum, which means more profits for you.
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Colfax Corporation, ticker symbol CFX, started 2010 at a share price of $12.04, and was right on the border between a micro cap and a small cap stock. Over the course of 2010, Colfax Corporation, a manufacturer of fluid handling systems, shot up 54% to over $18.50 a share. This move in 2010 brought Colfax Corporation to a market cap of over $800 million, making it a solid small cap stock well on its way to mid cap status.
IMAX Corporation, ticker symbol IMAX, began 2010 at a share price of $13.31, already having experienced a significant jump in 2009. IMAX was not finished rising, as it more than doubled in 2010, rising 101% to a share price of over $26.70. Doubling their stock price brought IMAX from around a one billion dollar market cap to almost 2 billion dollars, making it one of the more prominent small cap stocks.
Coinstar Incorporated, ticker symbol CSTR, began 2010 at a share price of $27.78. On 2009, Coinstar had bought out DVD kiosk company Redbox, and the benefits of that acquisition were made manifest in 2010. Coinstar’s stock price saw an increase of over 117%, to a price of over $60 per share mainly due to increasing financial strength. A red hot stock pick in 2010 indeed, as Coinstar has propelled itself from a low small cap stock to one of the more solid small cap stocks traded on the market today.
The Boston Beer Company Incorporated, ticker symbol SAM, saw a dramatic increase in its stock price during 2010. The brewer of the Sam Adams line of beer started the year at a share price of around $46 per share. Over the course of 2010, The Boston Beer Company more than doubled its share price, increasing over 113% to a share price just south of $100. Thanks to outstanding financial production in 2010, The Boston Beer Company made its case as one of the most profitable stock picks in the small cap class.
California Pizza Kitchen Incorporated, ticker symbol CPKI, also benefited from a bullish stock market in 2010. Starting the year at a stock price of $13.45 per share, California Pizza Kitchen saw an increase of over 31% to a price of more than $17.50 per share. The pizza chain operates over 250 franchised locations in 32 states, and has room to grow its restaurant presence. California Pizza Kitchen also has a good share of the frozen pizza market, with their pizzas being sold in supermarkets across the country.
As can be easily seen, 2010 was an excellent year for stocks, and small cap stocks especially. Looking forward to 2011, there is room for many stocks to maintain their upward momentum, which means more profits for you.
About QualityStocks:
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.
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National Automation Services Inc. (NASV.PK) Provides Full Spectrum of Services to Improve Productivity and Profitability
National Automation Services Inc. is a leader in industrial automation and systems integration. As a provider of systems integration in the industrial controls sector, the company’s goal is to build a North American portfolio of automation and controls companies across the continent which specialize in the design and implementation of industrial control systems.
The company is an elite system integrator, Allen-Bradley solutions provider, Siemens solution partner and UL (Underwriters Laboratories) certified panel facility. Aligning with nationally recognized regulatory bodies gives the company significant marketplace credibility and the highest standards for its products and services.
National Automation Services is committed to providing solutions which meet and exceed its customers’ expectations. The company’s extensive experience with a wide range of clients puts it in the unique position of being able to understand and address each client’s specific needs. With its diverse industry experience, the company is able to provide the following industry solutions:
• Automotive – Improve delivery reliability
• Building & Facilities – Centralize access control
• Cement & Glass – Improve delivery reliability
• Chemical – Improve reporting capability
• Electronics – Control production lines to improve quality
• Food & Beverage – Improve productivity and profitability
• Machinery & Manufacturing – Enhance reliability and maximize safety
• Metals – Centralize operations
• Mining & Minerals – Centralize mine operation
• Oil & Gas – Assure safety, custody and pipeline integrity
• Pharmaceutical – Reduce costs
• Power/Utilities & Generation – Maximize productivity
• Pulp & Paper – Reduce shutdowns
• Transportation – Synchronize manufacturing and business processes
• Water & Waste Water – Improve treatment processes automation
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QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.
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The company is an elite system integrator, Allen-Bradley solutions provider, Siemens solution partner and UL (Underwriters Laboratories) certified panel facility. Aligning with nationally recognized regulatory bodies gives the company significant marketplace credibility and the highest standards for its products and services.
National Automation Services is committed to providing solutions which meet and exceed its customers’ expectations. The company’s extensive experience with a wide range of clients puts it in the unique position of being able to understand and address each client’s specific needs. With its diverse industry experience, the company is able to provide the following industry solutions:
• Automotive – Improve delivery reliability
• Building & Facilities – Centralize access control
• Cement & Glass – Improve delivery reliability
• Chemical – Improve reporting capability
• Electronics – Control production lines to improve quality
• Food & Beverage – Improve productivity and profitability
• Machinery & Manufacturing – Enhance reliability and maximize safety
• Metals – Centralize operations
• Mining & Minerals – Centralize mine operation
• Oil & Gas – Assure safety, custody and pipeline integrity
• Pharmaceutical – Reduce costs
• Power/Utilities & Generation – Maximize productivity
• Pulp & Paper – Reduce shutdowns
• Transportation – Synchronize manufacturing and business processes
• Water & Waste Water – Improve treatment processes automation
About QualityStocks:
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.
Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
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Orange 21, Inc. (ORNG.OB) Highlights 2010 Promissory Note and Proceed Allocation
Orange 21 Inc., a leading designer, producer and distributor of products for action sports under the brands Spy Optic, O’Neill and Margaritaville, last week announced that its wholly owned subsidiary Orange 21 North America Inc. (O21NA) issued a $7.0 million promissory note to Orange 21 shareholder Costa Brava Partnership III, LP. The promissory note replaces the promissory note of $3 million in March 2010; $1 million promissory note in October 2010; and the $1 million promissory note in November 2010. The $7 million promissory note provides an additional $2 million in proceeds.
The promissory note is subordinated to O21NA’s loan and security agreement with BFI Business Finance as part of its debt subordination agreement on March 23, 2010, by and between Costa Brava and BFI.
The company said the $2 million proceeds will be used to prepay the current balance on its revolving line of credit with BFI; any remaining proceeds will be used for working capital purposes.
Seth Hamot, Orange 21 chairman of the board of directors, is the president and sole member of Roark, Rearden & Hamot, LLC, the sole general partner of Costa Brava.
“We are quite pleased to help our company grow. Orange 21 and its portfolio of brands have lots of opportunity in front of them, and we look forward to being a part of that growth for a long time,” Hamot stated in the press release.
The promissory note matures on December 30, 2011. At any time during the terms of the promissory note, Costa Brava may convert up to $2,250,000 into shares of Orange 21 Inc. common stock at a conversion price of $2.25 per share.
For more information visit www.orangetwentyone.com
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The promissory note is subordinated to O21NA’s loan and security agreement with BFI Business Finance as part of its debt subordination agreement on March 23, 2010, by and between Costa Brava and BFI.
The company said the $2 million proceeds will be used to prepay the current balance on its revolving line of credit with BFI; any remaining proceeds will be used for working capital purposes.
Seth Hamot, Orange 21 chairman of the board of directors, is the president and sole member of Roark, Rearden & Hamot, LLC, the sole general partner of Costa Brava.
“We are quite pleased to help our company grow. Orange 21 and its portfolio of brands have lots of opportunity in front of them, and we look forward to being a part of that growth for a long time,” Hamot stated in the press release.
The promissory note matures on December 30, 2011. At any time during the terms of the promissory note, Costa Brava may convert up to $2,250,000 into shares of Orange 21 Inc. common stock at a conversion price of $2.25 per share.
For more information visit www.orangetwentyone.com
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China SHESAYS (CSAY.OB) Introduces CEREC AC; Anticipates Solid Presence in Cosmetic Dentistry Industry
China SHESAYS Medical Cosmetology Inc. operates a network of specialized medical cosmetology hospitals, clinics and skincare centers in Sichuan province, China. The company today announced that it has recently unveiled its CEREC AC porcelain teeth 3D restoration robot at its flagship hospital in Chengdu. The introduction establishes China SHESAYS as the first medical cosmetology company in China to apply this dental instrument to cosmetic dentistry procedures.
The CEREC AC robot is a dental restoration system primarily used for making porcelain prosthetic teeth, providing rapid imaging results by leveraging the CEREC Bluecam technology to capture highly detailed images of dental conditions by using a powerful blue light emitting diode.
The company said the robot is expected to change the current operating model for dental restoration. The robot has the capability to significantly shorten the time for making a porcelain tooth from one week to an hour, and the company expects the robot to help add approximately 100 customers for dental restoration within a year.
China SHESAYS invested approximately $181,000 for the CEREC AC robot. The company estimates the cost of restoring a porcelain tooth to be between $300 and $900; the average customer will restore between eight and 16 porcelain teeth – as such, the company estimates that the revenue per patient on average is approximately $6,000.
Yixiang Zhang, chairman and CEO of China SHESAYS, noted the robot’s benefits to patients and said the company expects these benefits to appeal to a broad clientele.
“Instead of waiting for a week for permanent prosthetic teeth while having to use uncomfortable replacement prosthetics during the interim period, customers are offered a significantly more convenient alternative. As customers can actually witness the prosthetic tooth preparation process while they are in our hospital, we believe this level of transparency and efficiency will attract a broad clientele. In the future, we are committed to continuously improving all aspects of our customer service experiences as we strongly believe this is our key differentiator from our competitors,” Zhang stated in the press release.
China SHESAYS also anticipates that the CEREC AC will strengthen the company’s position in the cosmetic dentistry industry.
“The introduction of the CEREC AC robot is also expected to significantly enhance our technological advantage in cosmetic dentistry, and further enhance the brand equity for our hospital. Our cooperation with Sirona, dubbed as the world’s largest manufacturer of dental equipment, represents a significant milestone in achieving our leadership in medical equipment applications in China,” Zhang stated.
For more information visit www.xichan.cn
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The CEREC AC robot is a dental restoration system primarily used for making porcelain prosthetic teeth, providing rapid imaging results by leveraging the CEREC Bluecam technology to capture highly detailed images of dental conditions by using a powerful blue light emitting diode.
The company said the robot is expected to change the current operating model for dental restoration. The robot has the capability to significantly shorten the time for making a porcelain tooth from one week to an hour, and the company expects the robot to help add approximately 100 customers for dental restoration within a year.
China SHESAYS invested approximately $181,000 for the CEREC AC robot. The company estimates the cost of restoring a porcelain tooth to be between $300 and $900; the average customer will restore between eight and 16 porcelain teeth – as such, the company estimates that the revenue per patient on average is approximately $6,000.
Yixiang Zhang, chairman and CEO of China SHESAYS, noted the robot’s benefits to patients and said the company expects these benefits to appeal to a broad clientele.
“Instead of waiting for a week for permanent prosthetic teeth while having to use uncomfortable replacement prosthetics during the interim period, customers are offered a significantly more convenient alternative. As customers can actually witness the prosthetic tooth preparation process while they are in our hospital, we believe this level of transparency and efficiency will attract a broad clientele. In the future, we are committed to continuously improving all aspects of our customer service experiences as we strongly believe this is our key differentiator from our competitors,” Zhang stated in the press release.
China SHESAYS also anticipates that the CEREC AC will strengthen the company’s position in the cosmetic dentistry industry.
“The introduction of the CEREC AC robot is also expected to significantly enhance our technological advantage in cosmetic dentistry, and further enhance the brand equity for our hospital. Our cooperation with Sirona, dubbed as the world’s largest manufacturer of dental equipment, represents a significant milestone in achieving our leadership in medical equipment applications in China,” Zhang stated.
For more information visit www.xichan.cn
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MabCure, Inc. (MBCI.OB) Video Chart for Tuesday, December 28, 2010
ADLR has established a downward channel over the last two months, but is sitting on a support level at this time. Technical traders will be alert for a break of the top side of the channel at this point as indicators are giving slight hints of a possible reversal.
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Sinovac Biotech Ltd. (SVA) Announces SFDA Approval to Commence Clinical Trials for Enterovirus Type 71 Vaccine
Sinovac Biotech Ltd., a leading provider of biopharmaceutical products in China, announced this morning that it received approval from the China State Food and Drug Administration (SFDA) to commence clinical trials for its proprietary inactivated EV71 vaccine against Hand, Foot and Mouth Disease (HFMD). Sinovac must conduct each phase of the human clinical trials in accordance with SFDA requirements, conduct studies to assess safety and immunogenicity in the phase I and II clinical trials, and conduct efficacy study in the phase III clinical trial. The company filed the application to commence human clinical trials for its inactivated EV71 vaccine in December of last year.
Dr. Weidong Yin, Chairman, President & CEO, stated, “We are very pleased to advance our near term vaccine development pipeline with the approval from the SFDA to commence clinical trials for our internally developed EV 71 vaccine. Currently, there is no vaccine available worldwide for this disease. We had no precedent to go by during the development, so we had to start with the basic research on this vaccine. Moreover, our R&D people has successfully completed pre-clinical research and made significant breakthroughs during the development. We will move forward with our research and development of vaccines with the objective to supply high quality vaccine products to children worldwide as soon as possible and to contribute to the prevention and control of HFMD.”
The Company began preclinical research for its independently developed EV 71 vaccine approximately two years ago. The animal model, built by researchers at Sydney University, showed cross protection and demonstrated that the vaccine is effective in animals. Sinovac has already filed five patent applications covering the EV 71 vaccine.
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Dr. Weidong Yin, Chairman, President & CEO, stated, “We are very pleased to advance our near term vaccine development pipeline with the approval from the SFDA to commence clinical trials for our internally developed EV 71 vaccine. Currently, there is no vaccine available worldwide for this disease. We had no precedent to go by during the development, so we had to start with the basic research on this vaccine. Moreover, our R&D people has successfully completed pre-clinical research and made significant breakthroughs during the development. We will move forward with our research and development of vaccines with the objective to supply high quality vaccine products to children worldwide as soon as possible and to contribute to the prevention and control of HFMD.”
The Company began preclinical research for its independently developed EV 71 vaccine approximately two years ago. The animal model, built by researchers at Sydney University, showed cross protection and demonstrated that the vaccine is effective in animals. Sinovac has already filed five patent applications covering the EV 71 vaccine.
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China TransInfo Technology Corp. (CTFO) Contracted to Develop a Commercial Operation Center for Beijing Traffic-Information Service
Today, China TransInfo Technology Corp. announced that its subsidiary, Beijing Zhangcheng Science and Technology Co., Ltd. (”Beijing Zhangcheng”), has signed a contract with the Beijing Transportation Information Center to develop a commercial operation center to provide dynamic traffic-information services to drivers in Beijing. Valued at RMB 6.2 million (approximately $0.9 million), the contract will be classified within the company’s traffic information service business.
The Commercial Operation Center will include the traffic information-service distribution platform, a customized commuting-service demonstration system, and the launch of 500 interactive dynamic navigation terminals, which are expected to be completed by the end of next year. Beijing Zhangcheng must also provide two-years of traffic-information service via the 500 terminals starting in 2011 as part of the contract. After the contracted period, Beijing Zhangcheng will continue to provide traffic-information services at market price.
Last week, the Beijing government announced new measures to ease the city’s increasingly severe traffic congestion. According to the new regulations, Beijing will strengthen the role of traffic information and services to counter traffic congestion and smooth traffic flow. The Commercial Operation Center is expected to help address the city’s mounting urban transportation issues and advance the development of the market for consumer-oriented traffic information services.
“We’re very delighted to participate in the construction of the Commercial Operation Center, especially to provide terminal-based traffic information services,” stated Mr. Shudong Xia, Chairman and Chief Executive Officer of China TransInfo. “Our selection is a strong validation of our technology and service capabilities. The government’s increased investment in traffic information services will continue to support the development of our industry.”
“Since Beijing Zhangcheng’s related platform, system and terminals have almost been finalized and meet the requirements of the Commercial Operation Center, we estimate that this contract can achieve 80% gross margins. In addition, the launch of 500 terminals represents the beginning of our offering paid traffic-information services in the Beijing market. The 500 interactive navigation terminals will also comprise a data source, which we will use to further improve the quality of our traffic-information service.”
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The Commercial Operation Center will include the traffic information-service distribution platform, a customized commuting-service demonstration system, and the launch of 500 interactive dynamic navigation terminals, which are expected to be completed by the end of next year. Beijing Zhangcheng must also provide two-years of traffic-information service via the 500 terminals starting in 2011 as part of the contract. After the contracted period, Beijing Zhangcheng will continue to provide traffic-information services at market price.
Last week, the Beijing government announced new measures to ease the city’s increasingly severe traffic congestion. According to the new regulations, Beijing will strengthen the role of traffic information and services to counter traffic congestion and smooth traffic flow. The Commercial Operation Center is expected to help address the city’s mounting urban transportation issues and advance the development of the market for consumer-oriented traffic information services.
“We’re very delighted to participate in the construction of the Commercial Operation Center, especially to provide terminal-based traffic information services,” stated Mr. Shudong Xia, Chairman and Chief Executive Officer of China TransInfo. “Our selection is a strong validation of our technology and service capabilities. The government’s increased investment in traffic information services will continue to support the development of our industry.”
“Since Beijing Zhangcheng’s related platform, system and terminals have almost been finalized and meet the requirements of the Commercial Operation Center, we estimate that this contract can achieve 80% gross margins. In addition, the launch of 500 terminals represents the beginning of our offering paid traffic-information services in the Beijing market. The 500 interactive navigation terminals will also comprise a data source, which we will use to further improve the quality of our traffic-information service.”
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Monday, December 27, 2010
Share Price of Intellect Neurosciences, Inc. (ILNS.OB) Up on Alzheimer’s Drug News
Intellect Neurosciences, Inc., a biotechnology company with several drugs in various stages of development, released more data today regarding it lead Alzheimer’s candidate, OX1 (Oxigon™), which has recently completed a Phase 1b clinical trial. After releasing data in late October showing that the drug was well tolerated and safe at all dosing levels, the Company announced that it has received a pharmacokinetic profile report from a fourteen-day safety trial.
OX1 is a unique molecule that is being proven effective at promoting clearance of soluble beta amyloid and also blocks neurotoxicity that is created by free radicals. This neurotoxicity damages synaptic function in the brain which results in irreversible changes in the nerve cells.
The study, sponsored by Intellect and conducted by Kendle through the Kendle Clinical Pharmacology Unit in Utrecht, The Netherlands, was a double-blind, randomized, placebo-controlled, multiple escalating doses between three groups of twelve healthy, elderly volunteers over 60 years in age. The patients in the dosing group consisted of eight subjects which were given doses of 200, 400 or 800 mgs of OX1 at six hour intervals.
The new pharmacokinetic data indicates that the drug is rapidly absorbed and distributed in the body after oral administration. Moreover, the terminal elimination half-life increased from approximately 6-8 hours on the first day of the trial to 8-9 hours on the fourteenth day. This new data suggests that the drug could be administered less frequently than realized from the Phase I trials. In planning for the Phase II clinical trials, this data will now be factored as the Company plans to demonstrate the effects of OX1 in Alzheimer’s patients on a relevant biomarker in the cerebrospinal fluid.
Additional good news accompanied this pharmacokinetic data as well today as Intellect announced that they have been informed that the National Institute of Aging, a part of the National Institute of Health, will support the toxicology studies for OX1, which are slated to begin in the first part of 2011. This is part of a federal initiative to work at many levels and with many different companies and academics in a quest to find a therapy for Alzheimer’s disease. The National Institute of Aging has already worked with Intellect by giving support in the key safety and toxicology studies for OX1.
Due to the urgency to find a treatment for Alzheimer’s, Intellect is moving itself into a solid position within the industry and has become a subject of interest of larger biotechnology companies. According to Dr. Daniel Chain, Chairman and Chief Executive Officer of Intellect, “We have received interest from several large pharmaceutical companies regarding OX1 and anticipate partnering this drug in the future. We look forward to moving forward with our clinical and regulatory development plan that includes the filing of an Investigational New Drug application (IND) with the FDA to support initiation of Phase 2 trials. Typically, licenses and or collaborations with large pharmaceutical companies yield substantial revenues from license fees, development milestone payments and royalties from sales.”
More information on Intellect Neurosciences, Inc. and its pipeline of compounds can be found on the Company’s website at www.intellectns.com
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OX1 is a unique molecule that is being proven effective at promoting clearance of soluble beta amyloid and also blocks neurotoxicity that is created by free radicals. This neurotoxicity damages synaptic function in the brain which results in irreversible changes in the nerve cells.
The study, sponsored by Intellect and conducted by Kendle through the Kendle Clinical Pharmacology Unit in Utrecht, The Netherlands, was a double-blind, randomized, placebo-controlled, multiple escalating doses between three groups of twelve healthy, elderly volunteers over 60 years in age. The patients in the dosing group consisted of eight subjects which were given doses of 200, 400 or 800 mgs of OX1 at six hour intervals.
The new pharmacokinetic data indicates that the drug is rapidly absorbed and distributed in the body after oral administration. Moreover, the terminal elimination half-life increased from approximately 6-8 hours on the first day of the trial to 8-9 hours on the fourteenth day. This new data suggests that the drug could be administered less frequently than realized from the Phase I trials. In planning for the Phase II clinical trials, this data will now be factored as the Company plans to demonstrate the effects of OX1 in Alzheimer’s patients on a relevant biomarker in the cerebrospinal fluid.
Additional good news accompanied this pharmacokinetic data as well today as Intellect announced that they have been informed that the National Institute of Aging, a part of the National Institute of Health, will support the toxicology studies for OX1, which are slated to begin in the first part of 2011. This is part of a federal initiative to work at many levels and with many different companies and academics in a quest to find a therapy for Alzheimer’s disease. The National Institute of Aging has already worked with Intellect by giving support in the key safety and toxicology studies for OX1.
Due to the urgency to find a treatment for Alzheimer’s, Intellect is moving itself into a solid position within the industry and has become a subject of interest of larger biotechnology companies. According to Dr. Daniel Chain, Chairman and Chief Executive Officer of Intellect, “We have received interest from several large pharmaceutical companies regarding OX1 and anticipate partnering this drug in the future. We look forward to moving forward with our clinical and regulatory development plan that includes the filing of an Investigational New Drug application (IND) with the FDA to support initiation of Phase 2 trials. Typically, licenses and or collaborations with large pharmaceutical companies yield substantial revenues from license fees, development milestone payments and royalties from sales.”
More information on Intellect Neurosciences, Inc. and its pipeline of compounds can be found on the Company’s website at www.intellectns.com
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QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.
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