Sanofi-aventis, www.sanofi-aventis.us – one of the top pharmaceutical companies engaged in discovery/development/distribution, reported yesterday in concert with China-focused specialty pharmaceutical firm BMP Sunstone (BJGP), entry into a definitive agreement whereby SNY will acquire all outstanding shares of BJGP.
The price tag on the deal is roughly $520.6M (fully diluted) or a cash consideration of $10/share, representing a 30% premium above the Oct. 27 close of BJGP stock and was unanimously approved by the board of directors at BJGP.
The recently established Hangzhou Sanofi Minsheng Consumer Healthcare joint venture will be magnified by the BJGP acquisition, putting SNY in prime market position to drive massive sales in vitamins and mineral supplements as well as cough and cold, two of the biggest categories.
CEO of SNY, Christopher A. Viehbacher, called the deal a real boon for the Company as it will enable not only leveraging of the strong consumer healthcare segment, but also grant ready access to many new/expanding distribution channels in China, channels which are anticipated to represent up to a third of the entire Chinese pharmaceutical market in the coming years.
With sales of $147M in 2009, BJGP calculates that 60% of sales were in the consumer healthcare segment via access to a network of Tier 3-4 market entities, ranging from retailers to county hospitals and community clinics.
This is an incredibly cunning tactic for SNY as BJGP already has a massive footprint and two of China’s top/most widely-known brands in the consumer healthcare segment:
• Hao Wa Wa – recently selected as China’s number one pediatric cough and cold brand
• Kang Fu Te – a women’s healthcare hygiene brand
CEO of BJGP, David (Xiao Ying) Gao, called the deal a major opportunity for shareholders in both companies and especially for the personnel/infrastructure of BJGP.
The rapid growth of China’s consumer healthcare market and its promising future constitute a perfect example for SNY of a core growth platform.
As the 5th largest globally in terms of consumer healthcare, SNY is making a huge move here to establish dominance in China, where the market has quickly become the second largest worldwide (EUR12B in 2010, estimated CAGR of 11% since 2005).
Terms of the agreement stipulate transaction completion is contingent upon approval at the BJGP stockholder’s meeting (23% of fully diluted shares already promising a yes vote), some regulatory approvals in China and ancillary conditions.
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Friday, October 29, 2010
Arctic Cat Inc. (ACAT) Reports Exceptional Financial Data for Fiscal 2011 Second Quarter
Arctic Cat, veritably synonymous with the word snowmobile and maker of some of the best ATVs, parts, apparel and accessories worldwide, reported outstanding Q2 FY11 (ending Sept. 30, 2010) data:
• Zero short- or long-term debt
• Net Earnings up 20.3% to $17.8M, or $0.97/diluted share (up 51% over the 6-month)
• Net Sales up 5.7% to $175.8M
• Gross Margins up 200 basis points (350 points year-to-date)
• Operating Profits up 25% to $27.4M
• Factory Inventory down 28% to $95.9M
• Total of cash and short term investments up a whopping 622% to 80.9M
Q2 Sales by segment:
• Snowmobiles up 7% to $91.5M (5% year-to-date), bolstered by global distributors buying up ever more units
• ATVs up 9% to $56.6M (1% YTD), on exceptionally strong sales of the hot new Prowler HDX utility vehicle
• Parts/Garments/Accessories off 4% to $27.6M (4% YTD)
CEO of ACAT, Christopher A. Twomey, called the double-digit earnings and solid balance sheet a clear indicator of the health of the Company and the success of measures taken to improve overall profitability.
Twomey cited initiatives targeted at the key areas evinced by this Q2 data, from gross margins to operating expenses, market share and reduced inventory, ACAT stalked the bottom line, reaping rich rewards as the global market responded exceptionally well to their host of offerings.
A rise in global demand for ACAT’s vehicles and the clearly defined business strategy for FY2011 were the subjects of a conference call which is now archived at the company’s site.
The outlook for 2011 is good and will likely improve as the retail power sports market rebounds.
Projections based on extant data for FY11 (ending Mar. 31, 2011):
• Net Sales of $453-463M
• EPS $0.40-0.55 (diluted, up roughly 67-122% from earlier guidance calculations)
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• Zero short- or long-term debt
• Net Earnings up 20.3% to $17.8M, or $0.97/diluted share (up 51% over the 6-month)
• Net Sales up 5.7% to $175.8M
• Gross Margins up 200 basis points (350 points year-to-date)
• Operating Profits up 25% to $27.4M
• Factory Inventory down 28% to $95.9M
• Total of cash and short term investments up a whopping 622% to 80.9M
Q2 Sales by segment:
• Snowmobiles up 7% to $91.5M (5% year-to-date), bolstered by global distributors buying up ever more units
• ATVs up 9% to $56.6M (1% YTD), on exceptionally strong sales of the hot new Prowler HDX utility vehicle
• Parts/Garments/Accessories off 4% to $27.6M (4% YTD)
CEO of ACAT, Christopher A. Twomey, called the double-digit earnings and solid balance sheet a clear indicator of the health of the Company and the success of measures taken to improve overall profitability.
Twomey cited initiatives targeted at the key areas evinced by this Q2 data, from gross margins to operating expenses, market share and reduced inventory, ACAT stalked the bottom line, reaping rich rewards as the global market responded exceptionally well to their host of offerings.
A rise in global demand for ACAT’s vehicles and the clearly defined business strategy for FY2011 were the subjects of a conference call which is now archived at the company’s site.
The outlook for 2011 is good and will likely improve as the retail power sports market rebounds.
Projections based on extant data for FY11 (ending Mar. 31, 2011):
• Net Sales of $453-463M
• EPS $0.40-0.55 (diluted, up roughly 67-122% from earlier guidance calculations)
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Rotate Black (ROBKE.OB) On-track to Get Gulfport Casino Rolling
Rotate Black Inc., a developer and manager of resort and casino properties, today announced the completion of a 99-year management agreement with Rotate Black MS LLC (RB MS), which took effect April 1, 2010. Per the agreement, Rotate Black will manage the casino and hotel operations in the Bert Jones Yacht Basin in Gulfport, Mississippi.
RB MS will compensate Rotate Black for its management services at $200,000 per month until the launch of gaming operations in Gulfport, at which time RB MS will pay Rotate Black $250,000 per month.
As soon as Rotate Black achieves full-year EBITDA of $17 million, RB MS will pay Rotate Black $300,000 per month.
Per the agreement, Rotate Black now also holds a 35% of the ownership interest in RB MS, which may increase up to 45% if certain financial performance targets are met after the initial phase of the Gulfport project is opened.
The first phase of the Gulfport project calls for more than 50,000 square feet of gaming and related amenities on a luxury cruise vessel near 9.5 acres of land recently leased by RB MS.
The ship is anticipated to host 825 slot machines and 24 table games including blackjack, craps, roulette and other table games; three restaurants; four bars, an entertainment venue for concerts and other acts; and adjacent on-site surface parking.
RB MS also plans on constructing at 2.5-to-3 diamond, 120-room hotel property with a restaurant and bar.
Dual Cooper, president and COO of Rotate Black, said the company is on a “strong path” to initiate the gaming operations, though the company still has to obtain sit approval to begin construction.
For more information visit www.rotateblack.com
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RB MS will compensate Rotate Black for its management services at $200,000 per month until the launch of gaming operations in Gulfport, at which time RB MS will pay Rotate Black $250,000 per month.
As soon as Rotate Black achieves full-year EBITDA of $17 million, RB MS will pay Rotate Black $300,000 per month.
Per the agreement, Rotate Black now also holds a 35% of the ownership interest in RB MS, which may increase up to 45% if certain financial performance targets are met after the initial phase of the Gulfport project is opened.
The first phase of the Gulfport project calls for more than 50,000 square feet of gaming and related amenities on a luxury cruise vessel near 9.5 acres of land recently leased by RB MS.
The ship is anticipated to host 825 slot machines and 24 table games including blackjack, craps, roulette and other table games; three restaurants; four bars, an entertainment venue for concerts and other acts; and adjacent on-site surface parking.
RB MS also plans on constructing at 2.5-to-3 diamond, 120-room hotel property with a restaurant and bar.
Dual Cooper, president and COO of Rotate Black, said the company is on a “strong path” to initiate the gaming operations, though the company still has to obtain sit approval to begin construction.
For more information visit www.rotateblack.com
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Simulated Environment Concepts, Inc. (SMEV.PK) Sees Bright Future Ahead
Simulated Environment Concepts believes its positioned for explosive growth over the next two years. As documented by market research, even during these tough times, the viability of the company’s products has and continues to be substantiated by the marketplace.
SE Concepts continues to broaden its reach and presence in the market place. This was clearly demonstrated during the fourth quarter of 2009 when the company signed a multi-million international deal with the French company, Zen & O, to manufacture 250 SapCapsules over the next four years. Zen & O, which operates approximately 54 franchises for Lady Fitness and other retail outlets, anticipates making SpaCapsule® the centerpiece of its Lady Fitness operations.
SE Concepts is also taking advantage of the developing trend in “corporate fitness” and “corporate destressing.” With advances in health care reform and the increasing focus on preventative care, many corporations are exploring the ways to de-stress and energize their office work-force to improve productivity. Today, there are 700,000 corporate centers who are potential customers for the use of the SpaCapsule®. Companies like Google, Delta Airlines, IBM, Eddie Bauer, and many others offer massage services already to their employees.
With exceptional international growth potential, the company’s accent on to the growing American corporate fitness and de-stressing trend, as well as SpaCapsule’s relevance to medical facilities, spas, tanning and beauty salons, gyms, airports, entertainment venues and private residences, the opportunity is immeasurable. SE Concepts anticipates exploiting every facet of its marketplace, and ultimately generate greater revenues, decrease overall cost of goods, positively impact net profit margins, and most importantly, build and maintain substantial value for investors.
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SE Concepts continues to broaden its reach and presence in the market place. This was clearly demonstrated during the fourth quarter of 2009 when the company signed a multi-million international deal with the French company, Zen & O, to manufacture 250 SapCapsules over the next four years. Zen & O, which operates approximately 54 franchises for Lady Fitness and other retail outlets, anticipates making SpaCapsule® the centerpiece of its Lady Fitness operations.
SE Concepts is also taking advantage of the developing trend in “corporate fitness” and “corporate destressing.” With advances in health care reform and the increasing focus on preventative care, many corporations are exploring the ways to de-stress and energize their office work-force to improve productivity. Today, there are 700,000 corporate centers who are potential customers for the use of the SpaCapsule®. Companies like Google, Delta Airlines, IBM, Eddie Bauer, and many others offer massage services already to their employees.
With exceptional international growth potential, the company’s accent on to the growing American corporate fitness and de-stressing trend, as well as SpaCapsule’s relevance to medical facilities, spas, tanning and beauty salons, gyms, airports, entertainment venues and private residences, the opportunity is immeasurable. SE Concepts anticipates exploiting every facet of its marketplace, and ultimately generate greater revenues, decrease overall cost of goods, positively impact net profit margins, and most importantly, build and maintain substantial value for investors.
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IDO Security, Inc. (IDOI.OB) Has Answer For British Airways
When the chairman of British Airways recently criticized the increasingly strict U.S. boarding procedures, one of the first things he targeted was the requirement for travelers to take off their shoes. British Transport Secretary Philip Hammond added his own take, indicating his desire to allow airlines to look at ways of easing the boarding process through different security procedures, changing them if they can reduce queuing and offer a better traveler experience. But U.S. officials were quick to point out the importance of such procedures, and how they were jointly agreed on.
A simple solution to at least one aspect of the controversy, developed by IDO Security, is a one-of-a-kind “shoes-on” detection system. Called MagShoeTM, the system addresses the major complaint of travelers, the need to take off their shoes for security inspection. In addition, the makers claim that their system is more accurate in detecting threats than current procedures, more completely allaying security concerns.
MagShoe simply calls for the traveler to stand briefly in the relatively small knee-high device, the scan taking less than two seconds. A red/yellow/green light indicator, along with an audible alarm, clearly signals the scan’s results, making it applicable to even crowded and noisy environments, such as busy airports or stadiums. The system meets all international standards for quality assurance, and has undergone testing by the U.S. TSA, as well as the UK Department of Transport, and the German BKA, along with others.
Together, it represents a collection of features that IDO Security considers unmatched:
• Seamless integration with existing metal detectors and procedures for a complete security solution
• Lightning fast – clear, accurate results in seconds
• Highly accurate – ignores metal normally found inside shoes to reduce false alarms
• Fully automatic and easy-to-use; no training required
• Extremely cost-efficient and affordable
• Compact and portable for use anywhere
• Thorough detection of all metals, both ferrous and non-ferrous
• Convenient, sanitary, quick alternative to manually removing shoes
MagShoe is actively being used by airports in various parts of the world, including Israel, and is currently being evaluated in the United States.
For more information, visit the company website at www.idosecurityinc.com
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A simple solution to at least one aspect of the controversy, developed by IDO Security, is a one-of-a-kind “shoes-on” detection system. Called MagShoeTM, the system addresses the major complaint of travelers, the need to take off their shoes for security inspection. In addition, the makers claim that their system is more accurate in detecting threats than current procedures, more completely allaying security concerns.
MagShoe simply calls for the traveler to stand briefly in the relatively small knee-high device, the scan taking less than two seconds. A red/yellow/green light indicator, along with an audible alarm, clearly signals the scan’s results, making it applicable to even crowded and noisy environments, such as busy airports or stadiums. The system meets all international standards for quality assurance, and has undergone testing by the U.S. TSA, as well as the UK Department of Transport, and the German BKA, along with others.
Together, it represents a collection of features that IDO Security considers unmatched:
• Seamless integration with existing metal detectors and procedures for a complete security solution
• Lightning fast – clear, accurate results in seconds
• Highly accurate – ignores metal normally found inside shoes to reduce false alarms
• Fully automatic and easy-to-use; no training required
• Extremely cost-efficient and affordable
• Compact and portable for use anywhere
• Thorough detection of all metals, both ferrous and non-ferrous
• Convenient, sanitary, quick alternative to manually removing shoes
MagShoe is actively being used by airports in various parts of the world, including Israel, and is currently being evaluated in the United States.
For more information, visit the company website at www.idosecurityinc.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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Andy Zeinfeld Joins Spare Backup’s (SPBU.OB) Board of Directors
News broke today that Spare Backup has selected Andy Zeinfeld, CEO of Simplexity, to join its Board of Directors. Spare Backup, Inc. specializes in helping consumers and small to mid-sized businesses protect their computer data quickly, automatically and cost-effectively.
A widely recognized and respected leader, Mr. Zeinfeld joins the Board of Directors as a notable person in the wireless industry. At Simplexity, Mr. Zeinfeld oversees the development and execution of all of the company’s long-term growth strategies and the development of earnings opportunities. Additionally, he is responsible for all aspects of Simplexity’s business initiatives including sales, marketing, business development, strategic partnerships, and carrier relations. His career includes his current role as CEO with Simplexity and over 32-years with the RadioShack Corporation (NYSE: RSH).
Cery Perle, CEO of Spare Backup, commented, “We are pleased to have Andy join our board of directors at this exciting time for our company. The experience and insight of such a well respected wireless and electronics industry veteran will be critical to us as we build our business relationship with wireless providers and retailers. We look forward to working with Andy to help guide our future as we look to strengthen our distribution networks and product offerings and rapidly grow our customer base.”
Commenting on his selection to the Board, Mr. Zeinfeld stated, “I’m very excited to have this opportunity to bring my years of experience and insight to the Spare Backup Board of Directors. I look forward to working closely with the management team on the next phase of the company’s growth and to help them to become the premier backup service in the world.”
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A widely recognized and respected leader, Mr. Zeinfeld joins the Board of Directors as a notable person in the wireless industry. At Simplexity, Mr. Zeinfeld oversees the development and execution of all of the company’s long-term growth strategies and the development of earnings opportunities. Additionally, he is responsible for all aspects of Simplexity’s business initiatives including sales, marketing, business development, strategic partnerships, and carrier relations. His career includes his current role as CEO with Simplexity and over 32-years with the RadioShack Corporation (NYSE: RSH).
Cery Perle, CEO of Spare Backup, commented, “We are pleased to have Andy join our board of directors at this exciting time for our company. The experience and insight of such a well respected wireless and electronics industry veteran will be critical to us as we build our business relationship with wireless providers and retailers. We look forward to working with Andy to help guide our future as we look to strengthen our distribution networks and product offerings and rapidly grow our customer base.”
Commenting on his selection to the Board, Mr. Zeinfeld stated, “I’m very excited to have this opportunity to bring my years of experience and insight to the Spare Backup Board of Directors. I look forward to working closely with the management team on the next phase of the company’s growth and to help them to become the premier backup service in the world.”
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Daulton Capital Corp. (DUCP.OB) Finds Positive Gold Indicators at Balarat
Daulton Capital Corp. is a finance company focused on natural resource investments, specifically precious and base metals as well as oil and gas opportunities. The overall goal is to acquire resource projects and expand exploration, while continuing to seek special situations and unique opportunities in under-funded projects within the resource sector. Their specific objective is to partner with major or junior natural resource companies, developing option potentials or joint venture projects.
The company recently announced it will exercise its option interest on two major gold projects based in the Yukon Territory of northwest Canada, with the goal of securing a 100% interest in both properties. This newly discovered and internationally recognized area has produced significant drill results of 3.4 g/t of gold at 103 meters.
One of the key projects in the area is the Balarat Property, consisting of 38 Yukon Quartz Mining Claims located in the Dawson Mining District. The claim block covers 1900 acres straddling Balarat Creek, one of the main placer gold producing placer creeks in the Thistle Area (White Gold District). The Balarat Project covers a 98% percentile gold silt anomaly for the Thistle camp Area. According to the Geological Survey of Canada (GSC), and the Yukon Geological Survey (YTG) geology maps, the Balarat Project is covering mainly augen gneiss with minor amphibolites and quartz-mica schist.
Further positive evidence of significant gold is the GSC silts data. The GSC sampled many creeks in the area for gold and other elements. In the case of the nearby Underworld White Gold Project, the GSC silt sample results were 12 ppb Au. The Balarat Project silt values of 32 ppb Au represent one of the highest silt anomalies in the area. The ongoing company plan has been to prospect the anomalous stream and conduct an initial ridge and spur soil sampling program.
For additional information, visit the company’s website at www.daultoncapital.com
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The company recently announced it will exercise its option interest on two major gold projects based in the Yukon Territory of northwest Canada, with the goal of securing a 100% interest in both properties. This newly discovered and internationally recognized area has produced significant drill results of 3.4 g/t of gold at 103 meters.
One of the key projects in the area is the Balarat Property, consisting of 38 Yukon Quartz Mining Claims located in the Dawson Mining District. The claim block covers 1900 acres straddling Balarat Creek, one of the main placer gold producing placer creeks in the Thistle Area (White Gold District). The Balarat Project covers a 98% percentile gold silt anomaly for the Thistle camp Area. According to the Geological Survey of Canada (GSC), and the Yukon Geological Survey (YTG) geology maps, the Balarat Project is covering mainly augen gneiss with minor amphibolites and quartz-mica schist.
Further positive evidence of significant gold is the GSC silts data. The GSC sampled many creeks in the area for gold and other elements. In the case of the nearby Underworld White Gold Project, the GSC silt sample results were 12 ppb Au. The Balarat Project silt values of 32 ppb Au represent one of the highest silt anomalies in the area. The ongoing company plan has been to prospect the anomalous stream and conduct an initial ridge and spur soil sampling program.
For additional information, visit the company’s website at www.daultoncapital.com
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True 2 Beauty Inc. (TRTB.PK) Receives Tremendous Market Response
Earlier today, True 2 Beauty Inc., a leading manufacturer and distributor of sexual potency pills and liquid products, announced that the “Libigrow” family of products has received tremendous response from the market.
This exceptionally positive response has helped the company grow sales to over 10 million in the past 6 months. True 2 Beauty anticipates exceeding twice that in the next two quarters. Proceeds will be used to increase the company’s marketing campaigns domestically and internationally.
Alex Hbaiu, president and CEO of True 2 Beauty, Inc., stated, “The response we received from the market thus far is just a glimpse of what we expect when the marketing campaigns are launched. Revenue projections looking forward are anticipated to grow exponentially.”
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This exceptionally positive response has helped the company grow sales to over 10 million in the past 6 months. True 2 Beauty anticipates exceeding twice that in the next two quarters. Proceeds will be used to increase the company’s marketing campaigns domestically and internationally.
Alex Hbaiu, president and CEO of True 2 Beauty, Inc., stated, “The response we received from the market thus far is just a glimpse of what we expect when the marketing campaigns are launched. Revenue projections looking forward are anticipated to grow exponentially.”
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New Mexico Software, Inc. (NMXC.OB) Video Chart for Friday, October 29, 2010
NMXC came to our attention as a result of a volume scan we ran yesterday. The chart has a nice, rounded look to it and is on radar to see if the volume was a prelude to movement.
Please click the following link: http://www.qualitystocks.net/videocharts.php
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RADVISION Ltd. (RVSN) Surpasses Q3 Revenue Expectations, Posts Q4 Forecast
RADVISION Ltd., a leading provider of video and wireless communications solutions, recently posted its third quarter 2010 financial results, exceeding previous company forecasts.
“Our third-quarter results were better-than-expected due to the very strong performance of our Video Business Unit. Our VBU revenues grew 32 percent over the third quarter of 2009, more than overcoming the as-expected 21 percent step-down in revenues from Cisco,” Boaz Raviv, CEO of RADVISION stated in the press release. “Driving our VBU growth was the continued market success of our SCOPIA infrastructure platform, which we continue to advance, combined with our successful introduction of endpoints at the beginning of this year, which has transformed RADVISION into an end-to-end video solution provider.”
Third-quarter revenues for 2010 were $24.5 million, an increase of 20 percent from $20.4 million in the third quarter of 2009, surpassing the company’s revenue forecast.
The company recorded operating income of $0.5 million on a GAAP basis and $1.6 million on a non-GAAP basis, as compared to operating income of $1.4 million on a GAAP basis and $2.5 million on a non-GAAP basis for the third quarter of 2009.
RADVISION reported third-quarter net income of $0.3 million, or $0.02 per diluted share, as compared to third quarter 2009 net income of $1.2 million, or $0.06 per diluted share.
The company reported that total revenues for the quarter consisted of $20.7 million for the VBU and $3.9 million for the Technology Business Unit (TBU), as compared third quarter 2009 results of $15.6 million for the VBU and $4.8 million for the TBU.
As of June 30, 2010, RADVISION reported approximately $115.5 million in cash and liquid investments, equivalent to $5.99 per basic share, a decrease of $6.8 million from June 30, 2010.
The company said expects to report revenues for the fourth quarter of 2010 of approximately $26.0 million and net income of approximately $1.2 million or $0.06 per diluted share. CEO Raviv said the company’s ability to strengthen its established relationships leverage its anticipations for the future.
“Our new position as an end-to-end video solution provider has enabled us to deepen our relationships with current reseller partners as well as expand and diversify our channel in both developed and emerging markets globally,” Raviv stated. “The continued execution of our strategy in the third quarter of 2010 produced important and tangible results. This is a time of enormous opportunity in the video market. We remain fully focused on moving quickly to seize it.”
For more information visit www.radvision.com
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“Our third-quarter results were better-than-expected due to the very strong performance of our Video Business Unit. Our VBU revenues grew 32 percent over the third quarter of 2009, more than overcoming the as-expected 21 percent step-down in revenues from Cisco,” Boaz Raviv, CEO of RADVISION stated in the press release. “Driving our VBU growth was the continued market success of our SCOPIA infrastructure platform, which we continue to advance, combined with our successful introduction of endpoints at the beginning of this year, which has transformed RADVISION into an end-to-end video solution provider.”
Third-quarter revenues for 2010 were $24.5 million, an increase of 20 percent from $20.4 million in the third quarter of 2009, surpassing the company’s revenue forecast.
The company recorded operating income of $0.5 million on a GAAP basis and $1.6 million on a non-GAAP basis, as compared to operating income of $1.4 million on a GAAP basis and $2.5 million on a non-GAAP basis for the third quarter of 2009.
RADVISION reported third-quarter net income of $0.3 million, or $0.02 per diluted share, as compared to third quarter 2009 net income of $1.2 million, or $0.06 per diluted share.
The company reported that total revenues for the quarter consisted of $20.7 million for the VBU and $3.9 million for the Technology Business Unit (TBU), as compared third quarter 2009 results of $15.6 million for the VBU and $4.8 million for the TBU.
As of June 30, 2010, RADVISION reported approximately $115.5 million in cash and liquid investments, equivalent to $5.99 per basic share, a decrease of $6.8 million from June 30, 2010.
The company said expects to report revenues for the fourth quarter of 2010 of approximately $26.0 million and net income of approximately $1.2 million or $0.06 per diluted share. CEO Raviv said the company’s ability to strengthen its established relationships leverage its anticipations for the future.
“Our new position as an end-to-end video solution provider has enabled us to deepen our relationships with current reseller partners as well as expand and diversify our channel in both developed and emerging markets globally,” Raviv stated. “The continued execution of our strategy in the third quarter of 2010 produced important and tangible results. This is a time of enormous opportunity in the video market. We remain fully focused on moving quickly to seize it.”
For more information visit www.radvision.com
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Western Liberty Bancorp (WLBC) Acquires Service1st Bank of Nevada
Western Liberty Bancorp announced yesterday the successful consummation of their acquisition of Service1st Bank of Nevada. As of the close of business yesterday, Western Liberty Bancorp will operate as a new Nevada financial institution bank holding company and will conduct their operations through their wholly owned subsidiary, Service1st. Furthermore, Western Liberty’s common shares will be listed on the NASDAQ Global Market, under the ticker symbol WLBC, today.
Mr. William E. Martin, CEO of both Western Liberty Bancorp and Service1st, said, “We are excited to consummate this transaction. We are especially pleased that the combined Western Liberty/Service1st platform will showcase one of the community’s best capitalized balance sheets to effectively serve our local businesses and residents.”
Mr. Michael Frankel, Chairman of Western Liberty Bancorp, noted, “The closing of this transaction is a significant milestone for our vision at Western Liberty Bancorp. As one of Nevada’s best capitalized community banks, we look forward to working with Nevada businesses as a value-added member of the Greater Las Vegas community.”
Mr. Steve Hill, Chairman of the Service1st Bank Board, said, “I share in everyone’s enthusiasm regarding the future of Service1st Bank. This event only serves to invigorate the Board and employees to double our efforts to make Service1st the best community bank in Nevada.”
Western Liberty, in conjunction with the transaction, has infused $25 million of capital onto Service1st’s balance sheet. This enhancement of Service1st’s capital and liquidity, position it as one of the strongest community banks serving the Las Vegas market.
Service1st operates as a traditional community bank. They provide a complete range of banking and related services to locally owned businesses and individuals. They do this from their headquarters and two retail banking facilities in the greater Las Vegas area. Primarily all of Service1st’s business is generated in the Nevada market. Services provided include basic commercial and consumer depository services, commercial working capital and equipment loans, commercial real estate loans, and other traditional commercial banking services.
Western Liberty Bancorp is a Nevada financial institution bank holding company. They conduct their operations through Service1st, their wholly-owned banking subsidiary.
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Mr. William E. Martin, CEO of both Western Liberty Bancorp and Service1st, said, “We are excited to consummate this transaction. We are especially pleased that the combined Western Liberty/Service1st platform will showcase one of the community’s best capitalized balance sheets to effectively serve our local businesses and residents.”
Mr. Michael Frankel, Chairman of Western Liberty Bancorp, noted, “The closing of this transaction is a significant milestone for our vision at Western Liberty Bancorp. As one of Nevada’s best capitalized community banks, we look forward to working with Nevada businesses as a value-added member of the Greater Las Vegas community.”
Mr. Steve Hill, Chairman of the Service1st Bank Board, said, “I share in everyone’s enthusiasm regarding the future of Service1st Bank. This event only serves to invigorate the Board and employees to double our efforts to make Service1st the best community bank in Nevada.”
Western Liberty, in conjunction with the transaction, has infused $25 million of capital onto Service1st’s balance sheet. This enhancement of Service1st’s capital and liquidity, position it as one of the strongest community banks serving the Las Vegas market.
Service1st operates as a traditional community bank. They provide a complete range of banking and related services to locally owned businesses and individuals. They do this from their headquarters and two retail banking facilities in the greater Las Vegas area. Primarily all of Service1st’s business is generated in the Nevada market. Services provided include basic commercial and consumer depository services, commercial working capital and equipment loans, commercial real estate loans, and other traditional commercial banking services.
Western Liberty Bancorp is a Nevada financial institution bank holding company. They conduct their operations through Service1st, their wholly-owned banking subsidiary.
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Star Gold Corp. (SRGZ.OB) Explores Excalibur, Longstreet Projects in Nevada
Yesterday, Star Gold Corp. informed its shareholders about recent field examinations on its Excalibur and Longstreet projects. The entire management team contributed to these examinations, and after an overview of the geology, mineralization and conditions of the sites, outlined a plan for additional exploration, development and financing.
Star Gold Corp., a gold and base metal exploration company, evaluates, develops and acquires gold projects in North America, focusing on the United States, Mexico and Canada. Currently, the company is focusing on the exploration of its Excalibur and Longstreet projects in Nevada.
Drilling has been suspended for the rest of the season on the Excalibur project (in the Moho Vein), closed on June 17th 2010. The only hole drilled so far was at a 145 degree angle, due north, at 230 feet deep. The hole was drilled to test high angle structures and rock strata. Drilling found multiple clay-rich structures that yielded a range of 0.05 g/t gold and 1 g/t silver to 0.2 g/t gold and 17 g/t silver. This drilling matches up with surface sampling done in the area. The drill hole also suggests a wider dispersion of metals may be found around the veins.
Since little modern exploration has been done in the area of the Excalibur project, combined with favorable test results, high hopes are held that it will become a significant source of precious metal ores.
The Longstreet project has received much more attention historically, with approximately 300 holes drilled there. An initial geologic discussion at the Longstreet site compared the similarities between Longstreet and the nearby Round Mountain open-pit heap leach deposit.
The tentative resource conducted by the company MinQuest discovered that in 2,847,690 tons of undiluted ore there is the potential for 0.061 oz. of gold per ton of ore. The deep oxidization of the gold-bearing tuff (rock composed of volcanic ash) makes the ore a likely candidate for leaching, which would get the gold and other precious metals out much faster. This layer of oxidized ore is present in most of the project’s area.
Scott Jenkins, Director and Geologist of Star Gold Corp. stated, “We are encouraged by the findings of our current exploration of the Excalibur and Longstreet Projects. Both properties offer great potential upside for the Company’s future resource reserve. Due to significant outcrop formations, it is the consensus of the group to move forward with metallurgical testing of the Longstreet Property and to make the site our first targeted project.”
Richard Kern, President and Geologist of Minquest, Inc. stated, “The Longstreet Project has the potential to become a significant gold and silver producer as evidenced by the existing resource and numerous under explored targets. We are excited to begin our exploration program.”
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Star Gold Corp., a gold and base metal exploration company, evaluates, develops and acquires gold projects in North America, focusing on the United States, Mexico and Canada. Currently, the company is focusing on the exploration of its Excalibur and Longstreet projects in Nevada.
Drilling has been suspended for the rest of the season on the Excalibur project (in the Moho Vein), closed on June 17th 2010. The only hole drilled so far was at a 145 degree angle, due north, at 230 feet deep. The hole was drilled to test high angle structures and rock strata. Drilling found multiple clay-rich structures that yielded a range of 0.05 g/t gold and 1 g/t silver to 0.2 g/t gold and 17 g/t silver. This drilling matches up with surface sampling done in the area. The drill hole also suggests a wider dispersion of metals may be found around the veins.
Since little modern exploration has been done in the area of the Excalibur project, combined with favorable test results, high hopes are held that it will become a significant source of precious metal ores.
The Longstreet project has received much more attention historically, with approximately 300 holes drilled there. An initial geologic discussion at the Longstreet site compared the similarities between Longstreet and the nearby Round Mountain open-pit heap leach deposit.
The tentative resource conducted by the company MinQuest discovered that in 2,847,690 tons of undiluted ore there is the potential for 0.061 oz. of gold per ton of ore. The deep oxidization of the gold-bearing tuff (rock composed of volcanic ash) makes the ore a likely candidate for leaching, which would get the gold and other precious metals out much faster. This layer of oxidized ore is present in most of the project’s area.
Scott Jenkins, Director and Geologist of Star Gold Corp. stated, “We are encouraged by the findings of our current exploration of the Excalibur and Longstreet Projects. Both properties offer great potential upside for the Company’s future resource reserve. Due to significant outcrop formations, it is the consensus of the group to move forward with metallurgical testing of the Longstreet Property and to make the site our first targeted project.”
Richard Kern, President and Geologist of Minquest, Inc. stated, “The Longstreet Project has the potential to become a significant gold and silver producer as evidenced by the existing resource and numerous under explored targets. We are excited to begin our exploration program.”
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Daybreak Oil and Gas, Inc. (DBRM) Reports Oil Discovery in California
Daybreak Oil and Gas, Inc. reported that the company has made a successful discovery of oil at a well being drilled in California.
Daybreak Oil and Gas, Inc. is exploring and developing oil and gas properties at the East Slopes project area located in Kern County, California. The company has been focusing on the Dyer Creek area at East Slopes, and recently drilled the Dyer Creek 67X-11 well.
Daybreak Oil and Gas, Inc. reported that the Dyer Creek 67X-11 well was drilled to a depth of approximately 2,300 feet and found ten feet of net oil pay in the Vedder Sands formation. The company has set production casing on the well and is currently conducting completion operations. Daybreak Oil and Gas, Inc. has a 41.67% working interest in the well.
Daybreak Oil and Gas, Inc. said that the Dyer Creek 67X-11 well should be completed and onto production within ten days. The company has three other prospective drilling locations at Dyer Creek.
Daybreak Oil and Gas, Inc. has two other project areas besides the East Slopes project. Daybreak Oil and Gas, Inc. has a 25% working interest in a 14,100 net acre seismic option at the East Slopes North Project, where the company is also exploring the Vedder Sands formation. The company also has a 50% working interest in 9,000 acres in the San Joaquin Basin.
For more information on the company, go to www.daybreakoilandgas.com
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Daybreak Oil and Gas, Inc. is exploring and developing oil and gas properties at the East Slopes project area located in Kern County, California. The company has been focusing on the Dyer Creek area at East Slopes, and recently drilled the Dyer Creek 67X-11 well.
Daybreak Oil and Gas, Inc. reported that the Dyer Creek 67X-11 well was drilled to a depth of approximately 2,300 feet and found ten feet of net oil pay in the Vedder Sands formation. The company has set production casing on the well and is currently conducting completion operations. Daybreak Oil and Gas, Inc. has a 41.67% working interest in the well.
Daybreak Oil and Gas, Inc. said that the Dyer Creek 67X-11 well should be completed and onto production within ten days. The company has three other prospective drilling locations at Dyer Creek.
Daybreak Oil and Gas, Inc. has two other project areas besides the East Slopes project. Daybreak Oil and Gas, Inc. has a 25% working interest in a 14,100 net acre seismic option at the East Slopes North Project, where the company is also exploring the Vedder Sands formation. The company also has a 50% working interest in 9,000 acres in the San Joaquin Basin.
For more information on the company, go to www.daybreakoilandgas.com
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Miller Energy Resources (MILL) Reports on Alaska Oil and Gas Operations
Miller Energy Resources reported that the company has participated in a successful hydraulic fracturing operation on a well in Alaska, with the well responding with a large jump in production.
Miller Energy Resources said that Cook Inlet Energy, LLC, a subsidiary of the company, has a 30% non-operated interest in the Three Mile Creek Lease located in the Cook Inlet Basin in Alaska.
Aurora Gas, LLC, the operator of the lease, conducted a hydraulic fracturing operation on the Three Mile Creek # 2 well. The company targeted eight formation zones consisting of a total of approximately 125 feet of net oil and gas pay.
Miller Energy Resources reported that the well responded to the hydraulic fracturing with natural gas production gradually increasing to 350,000 cubic feet per day, from 60,000 to 80,000 cubic feet per day prior to the hydraulic fracturing. The company also expects an increase in proved reserves at the Three Mile Creek # 2 well due to the operation.
Miller Energy Resources also has operations in the Appalachian Basin in Tennessee, where the company has forty thousand acres of prospective inventory to explore and develop. The company is targeting the Chattanooga Shale and several other formations.
For more information on the company, go to www.millerenergyresources.com
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Miller Energy Resources said that Cook Inlet Energy, LLC, a subsidiary of the company, has a 30% non-operated interest in the Three Mile Creek Lease located in the Cook Inlet Basin in Alaska.
Aurora Gas, LLC, the operator of the lease, conducted a hydraulic fracturing operation on the Three Mile Creek # 2 well. The company targeted eight formation zones consisting of a total of approximately 125 feet of net oil and gas pay.
Miller Energy Resources reported that the well responded to the hydraulic fracturing with natural gas production gradually increasing to 350,000 cubic feet per day, from 60,000 to 80,000 cubic feet per day prior to the hydraulic fracturing. The company also expects an increase in proved reserves at the Three Mile Creek # 2 well due to the operation.
Miller Energy Resources also has operations in the Appalachian Basin in Tennessee, where the company has forty thousand acres of prospective inventory to explore and develop. The company is targeting the Chattanooga Shale and several other formations.
For more information on the company, go to www.millerenergyresources.com
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WordLogic Corporation (WLGC.OB) Files for Two More Patents
Located in Vancouver, British Columbia, WordLogic is a developer of patent-protected predictive text software used in input and Internet-based search applications. Today, WordLogic took a step towards further prominence with the announcement of the filing of two more patents with others pending.
The announcement came from WordLogic CEO Frank Evanshen who states that the patents are in response to media and market inquiries and that the young company expects to receive official notification shortly on these patents from the US Patent and Trademark Office (USPTO).
Commenting on the effects these patents will have on WordLogic, Evanshen was quoted as saying, “Since the release of Google Instant by Google (GOOG), we have experienced strong interest from a number of major technology companies entertaining possible relationships that we have not experienced since the initial release of the original software more than eight years ago.”
Evanshen added, “In addition to the two patents now before the USPTO that we expect to be granted, WordLogic has several other patents now pending before the Patent Office.”
Currently, WordLogic is trading in the $0.34 range. To learn more the company as a whole, visit the corporate website at: www.wordlogic.com.
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The announcement came from WordLogic CEO Frank Evanshen who states that the patents are in response to media and market inquiries and that the young company expects to receive official notification shortly on these patents from the US Patent and Trademark Office (USPTO).
Commenting on the effects these patents will have on WordLogic, Evanshen was quoted as saying, “Since the release of Google Instant by Google (GOOG), we have experienced strong interest from a number of major technology companies entertaining possible relationships that we have not experienced since the initial release of the original software more than eight years ago.”
Evanshen added, “In addition to the two patents now before the USPTO that we expect to be granted, WordLogic has several other patents now pending before the Patent Office.”
Currently, WordLogic is trading in the $0.34 range. To learn more the company as a whole, visit the corporate website at: www.wordlogic.com.
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Thursday, October 28, 2010
Greenlight Resources Inc. (PRZCF) Starts Testing of New Scientific Process
Greenlight Resources Inc. announced that the company has begun the testing and evaluation of a new scientific process use to extract lithium from other minerals.
Greenlight Resources Inc. said that the Silchlor Cyclic Vacuum Chlorination process would be used to test assayed samples obtained from the company’s Brazil Lake properties in Nova Scotia, Canada.
The objectives of the testing program are numerous. Greenlight Resources Inc. will attempt to determine if the Silchlor Cyclic Vacuum Chlorination process can extract lithium at a lower cost than the current solar brine process. The company will also determine the amount of waste products produced by the new process, and whether other mineral products can be extracted during the process.
Greenlight Resources Inc. said that the original agreement was signed with Champlain Mineral Ventures Limited and Silchlor Inc. in April 2010, to test the Silchlor Cyclic Vacuum Chlorination process.
Greenlight Resources Inc. said that Dr. Ian Flint is overseeing the testing and evaluation of the Silchlor Cyclic Vacuum Chlorination process. Flint has a doctorate in Mining and Mineral Processing Engineering from the University of British Columbia, and a Master in Arts and Science from the University of Toronto.
For more information on the company, go to www.greenlightresources.ca
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Greenlight Resources Inc. said that the Silchlor Cyclic Vacuum Chlorination process would be used to test assayed samples obtained from the company’s Brazil Lake properties in Nova Scotia, Canada.
The objectives of the testing program are numerous. Greenlight Resources Inc. will attempt to determine if the Silchlor Cyclic Vacuum Chlorination process can extract lithium at a lower cost than the current solar brine process. The company will also determine the amount of waste products produced by the new process, and whether other mineral products can be extracted during the process.
Greenlight Resources Inc. said that the original agreement was signed with Champlain Mineral Ventures Limited and Silchlor Inc. in April 2010, to test the Silchlor Cyclic Vacuum Chlorination process.
Greenlight Resources Inc. said that Dr. Ian Flint is overseeing the testing and evaluation of the Silchlor Cyclic Vacuum Chlorination process. Flint has a doctorate in Mining and Mineral Processing Engineering from the University of British Columbia, and a Master in Arts and Science from the University of Toronto.
For more information on the company, go to www.greenlightresources.ca
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Pro-Pharmaceuticals, Inc. (PRWP.OB) Ships First Order of Revolutionary Cancer Therapeutic DAVANT® to South American Distributor PROCAPS S.A.
Pro-Pharmaceuticals, www.pro-pharmaceuticals.com – the tip of the spear in the fight against cancer and fibrosis via revolutionary therapeutics based on Galectin receptors, reported that the Company’s leading candidate DAVANAT® shipped its first commercial order ($200k value) to Colombia-based pharmaceutical giant PROCAPS S.A. today.
CEO of PRWP, Theodore D. Zucconi, Ph.D., hailed the shipment as a “milestone” for the Company and stressed the efforts taken by PRWP to ensure that external variables related to such “first-time, international shipments of pharmaceutical products” were solidified.
PROCAPS received exclusive rights earlier this year to market/sell DAVANAT in Columbia and Latin America, accepting responsibility for the approval process, distribution, marketing and sales of DAVANAT in Columbia as part of the agreement.
Zucconi praised PROCAPS as a partner for commercializing the breakthrough DAVANAT product, which disrupts Galectin receptors activity on cancer cells and has shown impressive results in concert with chemotherapy drug 5-flourouracil (5-FU).
Patient survival was extended by roughly 45%, according to Phase II data from a colorectal cancer study.
DAVANAT is based on PRWP’s powerful Glycoscience technology platform and thus also ameliorates the toxicity of chemotherapy agents substantially, resulting in improved quality of life, as demonstrated empirically by the over 100 patients administered to date.
Zucconi sagely noted that strategic importance of PROCAPS for future access throughout Latin American markets.
An established direct operator of a network spanning ten Latin American countries and over 30 more, PROCAPS has a solid footprint for exporting pharmaceutical/support products, with a superb track record for successfully launching new items.
This deal is a shrewd move for PRWP, whose shareholders are poised to rake in the rich rewards from DAVANAT, which is expected to receive regulatory approval in Q1 2011.
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CEO of PRWP, Theodore D. Zucconi, Ph.D., hailed the shipment as a “milestone” for the Company and stressed the efforts taken by PRWP to ensure that external variables related to such “first-time, international shipments of pharmaceutical products” were solidified.
PROCAPS received exclusive rights earlier this year to market/sell DAVANAT in Columbia and Latin America, accepting responsibility for the approval process, distribution, marketing and sales of DAVANAT in Columbia as part of the agreement.
Zucconi praised PROCAPS as a partner for commercializing the breakthrough DAVANAT product, which disrupts Galectin receptors activity on cancer cells and has shown impressive results in concert with chemotherapy drug 5-flourouracil (5-FU).
Patient survival was extended by roughly 45%, according to Phase II data from a colorectal cancer study.
DAVANAT is based on PRWP’s powerful Glycoscience technology platform and thus also ameliorates the toxicity of chemotherapy agents substantially, resulting in improved quality of life, as demonstrated empirically by the over 100 patients administered to date.
Zucconi sagely noted that strategic importance of PROCAPS for future access throughout Latin American markets.
An established direct operator of a network spanning ten Latin American countries and over 30 more, PROCAPS has a solid footprint for exporting pharmaceutical/support products, with a superb track record for successfully launching new items.
This deal is a shrewd move for PRWP, whose shareholders are poised to rake in the rich rewards from DAVANAT, which is expected to receive regulatory approval in Q1 2011.
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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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Gammon Gold Inc. (GRS) Advances Venus Project in Mexico
Gammon Gold Inc. announced that the company has discovered three separate drilling prospects at its Venus Project in Chihuahua, Mexico. The company did a geologic mapping of the properties along with geo chemical and rock sampling program at the site.
Gammon Gold Inc. reported that the company obtained 703 rock samples at the La Boleta drilling target, and determined that 171 of the samples contained gold. The La Boleta drilling target is approximately 2,100 meters in length.
At the Santo Nino drilling target, Gammon Gold Inc. obtained 301 rock samples, of which 151 contained gold. The Santo Nino drilling target is approximately 2,400 meters in length.
Gammon Gold Inc. said that company took 49 samples from the Roncesvalle Vein drilling target, and found that 29 contained gold. The Roncesvalle Vein is the smallest of the three drilling targets at 180 meters in length.
Gammon Gold Inc. said that all three drilling sites contained significant gold and silver geochemical anomalies, along with favorable geological features, and appear to be in large enough quantities to be commercially successful. The company plans to obtain a drilling rig and start drilling at the Venus Project during the fourth quarter of 2010.
For more information on the company, go to www.gammongold.com
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Gammon Gold Inc. reported that the company obtained 703 rock samples at the La Boleta drilling target, and determined that 171 of the samples contained gold. The La Boleta drilling target is approximately 2,100 meters in length.
At the Santo Nino drilling target, Gammon Gold Inc. obtained 301 rock samples, of which 151 contained gold. The Santo Nino drilling target is approximately 2,400 meters in length.
Gammon Gold Inc. said that company took 49 samples from the Roncesvalle Vein drilling target, and found that 29 contained gold. The Roncesvalle Vein is the smallest of the three drilling targets at 180 meters in length.
Gammon Gold Inc. said that all three drilling sites contained significant gold and silver geochemical anomalies, along with favorable geological features, and appear to be in large enough quantities to be commercially successful. The company plans to obtain a drilling rig and start drilling at the Venus Project during the fourth quarter of 2010.
For more information on the company, go to www.gammongold.com
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ACADIA Pharmaceuticals, Inc. (ACAD) is “One to Watch”
ACADIA Pharmaceuticals, Inc. is a biopharmaceutical company focused using innovative technology to fuel drug discovery and clinical development of novel treatments for central nervous system disorders. All four of the product candidates in ACADIA’s pipeline originate from discoveries made using the company’s proprietary drug discovery platform.
The company’s portfolio include three product candidates that are currently in clinical development and one product candidate in IND-track development. ACADIA’s pipeline addresses diseases that are not well served by currently available therapies and represent large potential commercial opportunities. These product candidates offer innovative therapeutic approaches and may provide significant advantages over current therapies.
ACADIA’s most advanced product candidate is pimavanserin, which is in Phase III development for Parkinson’s disease psychosis. Pimavanserin, a new chemical entity that can be taken orally as a tablet once-a-day, selectively blocks the activity of the 5-HT2A receptor, a drug target that plays an important role in the treatment of various neuropsychiatric disorders. ACADIA holds worldwide rights to pimavanserin.
Today the company hit a 52-week low after announcing the conclusion of a previously established collaboration with a wholly owned subsidiary of Valeant Pharmaceuticals International, Inc. (NYSE: VRX) to develop and commercialize pimavanserin in the United States and Canada. ACADIA has regained all rights to the product candidate and will receive a one-time cash payment of $8.75 million to transition the program back to ACADIA and cover costs associated with ongoing clinical trials.
Uli Hacksell, Ph.D., Chief Executive Officer of ACADIA, commented, “While we have enjoyed a great collaboration with Biovail, both parties recognize that pimavanserin and the broad development strategy at the core of our collaboration were not consistent with the strategic focus of the new Valeant following the recently completed merger. With worldwide rights to pimavanserin and a focus on our ongoing Phase III program, we believe ACADIA is positioned on an attractive path forward for this product candidate.”
With a solid balance sheet, a significant position held by insiders and analysts projecting price targets of between $2.00 – $5.00, the company is worthy of a closer look. Although wall street took today’s news negatively, ending ties with Valeant Pharmaceuticals could turn out being a good thing. They now have millions more in the bank plus have the option to re-partner for new upfront money. Some have also speculated that the company is a more attractive takeover target since they own full rights to pimavanserin.
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The company’s portfolio include three product candidates that are currently in clinical development and one product candidate in IND-track development. ACADIA’s pipeline addresses diseases that are not well served by currently available therapies and represent large potential commercial opportunities. These product candidates offer innovative therapeutic approaches and may provide significant advantages over current therapies.
ACADIA’s most advanced product candidate is pimavanserin, which is in Phase III development for Parkinson’s disease psychosis. Pimavanserin, a new chemical entity that can be taken orally as a tablet once-a-day, selectively blocks the activity of the 5-HT2A receptor, a drug target that plays an important role in the treatment of various neuropsychiatric disorders. ACADIA holds worldwide rights to pimavanserin.
Today the company hit a 52-week low after announcing the conclusion of a previously established collaboration with a wholly owned subsidiary of Valeant Pharmaceuticals International, Inc. (NYSE: VRX) to develop and commercialize pimavanserin in the United States and Canada. ACADIA has regained all rights to the product candidate and will receive a one-time cash payment of $8.75 million to transition the program back to ACADIA and cover costs associated with ongoing clinical trials.
Uli Hacksell, Ph.D., Chief Executive Officer of ACADIA, commented, “While we have enjoyed a great collaboration with Biovail, both parties recognize that pimavanserin and the broad development strategy at the core of our collaboration were not consistent with the strategic focus of the new Valeant following the recently completed merger. With worldwide rights to pimavanserin and a focus on our ongoing Phase III program, we believe ACADIA is positioned on an attractive path forward for this product candidate.”
With a solid balance sheet, a significant position held by insiders and analysts projecting price targets of between $2.00 – $5.00, the company is worthy of a closer look. Although wall street took today’s news negatively, ending ties with Valeant Pharmaceuticals could turn out being a good thing. They now have millions more in the bank plus have the option to re-partner for new upfront money. Some have also speculated that the company is a more attractive takeover target since they own full rights to pimavanserin.
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Norsat International (NSATF.OB) Posts Q3 Results; Anticipates Strong Q4
Norsat International Inc., a leading broadband communications solutions provider, today announced its financial results for the three-month period ended September 30, 2010.
The company posted total revenues for the third quarter at $4.5 million, up 12.6 percent from $5.1 million reported in the comparable quarter of 2009. The company said consistency in the sales of its microwave products helped offset a decrease in satellite systems sales for the quarter.
Third-quarter gross margin was 47.6 percent compared to 47.8 percent for the same period the year prior. The margin improvement is attributed to higher-end products and new product introductions, which generated healthier margins.
Norsat reported that selling, general and administrative expenses for the three months ended September 30, 2010, decreased to $1.3 million compared to $1.4 million for the same period in 2009.
Total operating expenses for the third quarter of 2010 were reported at $1.5 million, down from $1.8 million in the third quarter of 2009.
Third-quarter net earnings were $0.6 million, or $0.01 per share, consistent with $0.6 million, or $0.01 per share, during for the same period last year.
Dr. Amiee Chan, Norsat president and CEO, said while top-line results decreased, the company anticipates a solid fourth quarter.
“Top-line third quarter results were lower than one year ago but were due to the timing in receiving new orders, which were received very late in the third quarter. As a result, we do expect a strong fourth quarter, when majority of that backlog is anticipated to be delivered. We still managed to produce a highly profitable quarter despite the lower revenue level that was reported, which is a true testament to our disciplined cost structure and the fact that our margins remained relatively stable. Our capital structure remains strong and we intend to utilize these resources to grow the company through inorganic means,” Dr. Chan stated.
For more information visit www.norsat.com
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The company posted total revenues for the third quarter at $4.5 million, up 12.6 percent from $5.1 million reported in the comparable quarter of 2009. The company said consistency in the sales of its microwave products helped offset a decrease in satellite systems sales for the quarter.
Third-quarter gross margin was 47.6 percent compared to 47.8 percent for the same period the year prior. The margin improvement is attributed to higher-end products and new product introductions, which generated healthier margins.
Norsat reported that selling, general and administrative expenses for the three months ended September 30, 2010, decreased to $1.3 million compared to $1.4 million for the same period in 2009.
Total operating expenses for the third quarter of 2010 were reported at $1.5 million, down from $1.8 million in the third quarter of 2009.
Third-quarter net earnings were $0.6 million, or $0.01 per share, consistent with $0.6 million, or $0.01 per share, during for the same period last year.
Dr. Amiee Chan, Norsat president and CEO, said while top-line results decreased, the company anticipates a solid fourth quarter.
“Top-line third quarter results were lower than one year ago but were due to the timing in receiving new orders, which were received very late in the third quarter. As a result, we do expect a strong fourth quarter, when majority of that backlog is anticipated to be delivered. We still managed to produce a highly profitable quarter despite the lower revenue level that was reported, which is a true testament to our disciplined cost structure and the fact that our margins remained relatively stable. Our capital structure remains strong and we intend to utilize these resources to grow the company through inorganic means,” Dr. Chan stated.
For more information visit www.norsat.com
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NeoGenomics (NGNM) Reports Q3 Results, Positive Outlook
NeoGenomics Inc., a provider of cancer-focused genetic testing services, today posted its third-quarter results for the three months ended September 30, 2010.
Revenue for the third quarter was reported at $8.7 million, a 19 percent increase over the $7.3 million reported in the third quarter 2009.
The company increased its sales and marketing expenses by 11 percent over the third quarter of last year, spending approximately $190,000 on increases in sales and recruiting staff.
General and administrative expenses increased 19 percent. The company attributes the increase primarily as a result of additional information technology personnel, R&D activities, and to approximately $100,000 of non-recurring charges related to a reduction in force that was completed in September. The company said it estimates that the reduction will save the company $1.5 million in annual savings starting in the fourth quarter.
Net loss for the quarter was $1.2 million or ($0.03)/share versus a net loss of $755,000, or ($0.02)/share, in the third quarter 2009.
Doug VanOort, NeoGenomics’ chairman and CEO, said the quarterly results aren’t reflective of the company’s overall position and that it plans on strengthening its financial outlook in the future.
“Although our financial results don’t fully reflect the improvements in our business yet, we believe the company is in a stronger position today than ever before. During the last quarter, we made significant changes in our management team, successfully converted our entire laboratory information system, and implemented changes to reduce our cost structure. We are continuing to implement initiatives to increase our sales force productivity, and with important managed care plans now under contract, we are beginning to experience price stabilization,” VanOort stated in the press release. “It is also significant to note that the impact from the internalization of over $4.0 million annually of high margin revenue by the company’s largest customer is now fully behind us. Moving forward, we expect to grow from a more stable base of revenue and our team is focused on driving sustainable revenue growth and achieving profitability.”
For more information visit www.neogenomics.com
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Revenue for the third quarter was reported at $8.7 million, a 19 percent increase over the $7.3 million reported in the third quarter 2009.
The company increased its sales and marketing expenses by 11 percent over the third quarter of last year, spending approximately $190,000 on increases in sales and recruiting staff.
General and administrative expenses increased 19 percent. The company attributes the increase primarily as a result of additional information technology personnel, R&D activities, and to approximately $100,000 of non-recurring charges related to a reduction in force that was completed in September. The company said it estimates that the reduction will save the company $1.5 million in annual savings starting in the fourth quarter.
Net loss for the quarter was $1.2 million or ($0.03)/share versus a net loss of $755,000, or ($0.02)/share, in the third quarter 2009.
Doug VanOort, NeoGenomics’ chairman and CEO, said the quarterly results aren’t reflective of the company’s overall position and that it plans on strengthening its financial outlook in the future.
“Although our financial results don’t fully reflect the improvements in our business yet, we believe the company is in a stronger position today than ever before. During the last quarter, we made significant changes in our management team, successfully converted our entire laboratory information system, and implemented changes to reduce our cost structure. We are continuing to implement initiatives to increase our sales force productivity, and with important managed care plans now under contract, we are beginning to experience price stabilization,” VanOort stated in the press release. “It is also significant to note that the impact from the internalization of over $4.0 million annually of high margin revenue by the company’s largest customer is now fully behind us. Moving forward, we expect to grow from a more stable base of revenue and our team is focused on driving sustainable revenue growth and achieving profitability.”
For more information visit www.neogenomics.com
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MacroSolve, Inc. (MCVE.OB) Awarded Industry-Changing Patent
Located in Tulsa, Oklahoma, MacroSolve has earned a reputation as being a pioneer in delivering mobile applications, technologies, and solutions to businesses and government. While MacroSolve was founded only 13 years ago, the company has already made a significant impression on Wall Street and their industry. Today, MacroSolve took another step towards prominence with the announcement that the U.S. Patent and Trademark Office has issued U.S. Patent No. 7,822,816 to the company.
This patent is unique in that it addresses mobile information collection systems across all wireless networks and will further advance MacroSolve’s position as a leader in the mobile solutions market and is a significant intellectual property (IP) asset to the young company.
Two of the leaders at MacroSolve are Jim McGill who serves as the Chairman of the Board of the company and Clint Parr who holds the position of CEO. Jim McGill stated, “This revolutionary patent and the ReFormXT platform is the culmination of a decade of shareholder investment which was used to fund resources and technology know-how at MacroSolve. This defining IP represents a paradigm shift in the mobility world and we are pleased to have built this kind of inherent value for our shareholders and partners.”
Clinton Parr went on to add, “This patent is the biggest step forward I’ve seen during my career in the mobility ecosystem. MacroSolve has been a pioneer in the industry for 14 years and our visionary leadership is solidified in the award of this patent.”
Currently, MacroSolve is trading in the $0.03 range. To learn more about MacroSolve, visit the company website at: www.macrosolve.com
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This patent is unique in that it addresses mobile information collection systems across all wireless networks and will further advance MacroSolve’s position as a leader in the mobile solutions market and is a significant intellectual property (IP) asset to the young company.
Two of the leaders at MacroSolve are Jim McGill who serves as the Chairman of the Board of the company and Clint Parr who holds the position of CEO. Jim McGill stated, “This revolutionary patent and the ReFormXT platform is the culmination of a decade of shareholder investment which was used to fund resources and technology know-how at MacroSolve. This defining IP represents a paradigm shift in the mobility world and we are pleased to have built this kind of inherent value for our shareholders and partners.”
Clinton Parr went on to add, “This patent is the biggest step forward I’ve seen during my career in the mobility ecosystem. MacroSolve has been a pioneer in the industry for 14 years and our visionary leadership is solidified in the award of this patent.”
Currently, MacroSolve is trading in the $0.03 range. To learn more about MacroSolve, visit the company website at: www.macrosolve.com
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Comstock Mining Inc. (LODE.OB) is “One to Watch”
A Nevada-based precious metals mining company with extensive, contiguous property, Comstock Mining Inc. has amassed the single largest known repository of historical and current geological data on the Comstock region, secured permits, built an infrastructure and brought the exploration project into test mining production. In addition to capitalizing on its current portfolio, the company continues to pursue additional properties in the district.
Comstock Mining has carefully organized a management team committed to governance, effectiveness and transparency. The senior team retains exceptional geological, geo-statistical, engineering, regulatory, environmental, financial and operating competencies that are being leveraged to exploit the company’s full potential. The company has also strengthened its operations through agreements and relationships with their closest trading partners.
Recently, Comstock Mining announced that it raised $35.75 million of new equity, exchanging all previously defaulted senior secured debt and related obligations for new equity. The funding enabled the company to secure exclusive rights of production and exploration concerning extensive mining properties integral to the company’s nearly 6,000-acre land position. This builds on the success of the recent NI 43-101 technical report which validated the company’s total measured, indicated, inferred, and historic resources of over 1.6 million gold equivalent ounces.
As stated by CEO Corrado De Gasperis, securing these rights in a long-term and safely capitalized manner completes the consolidation of the Comstock Lode District and enables tremendous exploration potential. Comstock Mining is well on its way to reaching its objective of validating qualified resources and reserves (probable and proven) of 3,250,000 gold equivalent ounces by 2013, and commencing commercial mining and processing operations next year, with annual production rates of 20,000 gold equivalent ounces.
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Comstock Mining has carefully organized a management team committed to governance, effectiveness and transparency. The senior team retains exceptional geological, geo-statistical, engineering, regulatory, environmental, financial and operating competencies that are being leveraged to exploit the company’s full potential. The company has also strengthened its operations through agreements and relationships with their closest trading partners.
Recently, Comstock Mining announced that it raised $35.75 million of new equity, exchanging all previously defaulted senior secured debt and related obligations for new equity. The funding enabled the company to secure exclusive rights of production and exploration concerning extensive mining properties integral to the company’s nearly 6,000-acre land position. This builds on the success of the recent NI 43-101 technical report which validated the company’s total measured, indicated, inferred, and historic resources of over 1.6 million gold equivalent ounces.
As stated by CEO Corrado De Gasperis, securing these rights in a long-term and safely capitalized manner completes the consolidation of the Comstock Lode District and enables tremendous exploration potential. Comstock Mining is well on its way to reaching its objective of validating qualified resources and reserves (probable and proven) of 3,250,000 gold equivalent ounces by 2013, and commencing commercial mining and processing operations next year, with annual production rates of 20,000 gold equivalent ounces.
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Vystar Corp. (VYST.OB) Partners with India’s Biggest Latex Glove Producer
Vystar® Corp., creators of a reduced allergenic material (Vytex® Natural Rubber Latex – NRL) to replace standard latex, has secured an initial three-year licensing agreement with KA Prevulcanized Latex Pvt. Ltd (KAPVL), India’s largest latex glove producer. The agreement gives KAPVL sole rights to produce and sell Vytex NRL in six countries (India, Pakistan, Sri Lanka, Nepal, Bangladesh, and Bhutan). The initial agreement period is for three years and calls for specific minimum sales and quality standards to retain the license and territory exclusivity.
Vystar President and CEO, William Doyle, commented on the significance of the agreement to the company. “This license Agreement allows Vystar access to a protected market where the duties for imported latex raw material hover around seventy percent. There is a large manufacturing base for latex products, including gloves, condoms, and foam, in India and its neighbors. India is a magnet for leading US and European manufacturers, and has recently been ranked ninth among all countries in industrial production worldwide and has surpassed the U.S. in latex consumption. Consequently, we have very positive expectations as KAPVL begins to immediately manufacture and sell Vytex in this part of the world.”
KAPVL Director, Mr. Praveen Mathew, added, “We are confident that our agreement with Vystar will work to the benefit of both companies. We at KAPVL have been impressed with the quality and versatility of Vytex, and we believe there is a significant market for Vytex NRL waiting to be tapped in a region with burgeoning growth.”
Based in Duluth, Georgia, Vystar produces a multi-patented all-natural, and environmentally safe latex material, containing significantly reduced levels of the antigenic proteins found in standard rubber latex. The product is already on the market in Envy™ Ultra Thin NRL condoms from Alatech Healthcare, and is now being evaluated for use in dozens of other consumer and medical applications.
For more information, visit www.vytex.com.
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Vystar President and CEO, William Doyle, commented on the significance of the agreement to the company. “This license Agreement allows Vystar access to a protected market where the duties for imported latex raw material hover around seventy percent. There is a large manufacturing base for latex products, including gloves, condoms, and foam, in India and its neighbors. India is a magnet for leading US and European manufacturers, and has recently been ranked ninth among all countries in industrial production worldwide and has surpassed the U.S. in latex consumption. Consequently, we have very positive expectations as KAPVL begins to immediately manufacture and sell Vytex in this part of the world.”
KAPVL Director, Mr. Praveen Mathew, added, “We are confident that our agreement with Vystar will work to the benefit of both companies. We at KAPVL have been impressed with the quality and versatility of Vytex, and we believe there is a significant market for Vytex NRL waiting to be tapped in a region with burgeoning growth.”
Based in Duluth, Georgia, Vystar produces a multi-patented all-natural, and environmentally safe latex material, containing significantly reduced levels of the antigenic proteins found in standard rubber latex. The product is already on the market in Envy™ Ultra Thin NRL condoms from Alatech Healthcare, and is now being evaluated for use in dozens of other consumer and medical applications.
For more information, visit www.vytex.com.
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Mobile Star Corp. (MBST.PK) Provides Investor Update
Earlier this month, Mobile Star Corp. CEO Danny Elbaz issued a shareholder letter to investors, emphasizing the company’s commitment to the commercial introduction of the Mobile Star personal karaoke experience over the next six months.
The Mobile Star has made great progress so far this year, recently securing the required financing to continue funding ongoing business operations and meet commercial goals during the next six months. The financial agreement calls for the financier to provide multiple tranches during this pre-commercial period.
Over the next two quarters, the company will be focused on the full commercial introduction of the Mobile Star personal karaoke vending machine. The company believes that there is a significant market for the entertainment system, as clearly indicated by the successful pilot executed earlier this year.
Mr. Elbaz assured investors that the team is fully committed to attaining their product’s full commercial potential in the United States in addition to several international markets. He remains confident that through continued efforts to meet further business development goals, the stock price of the company will grow to match its full potential.
In closing, Mr. Elbaz expressed his “tremendous appreciation” to each of the shareholders for continued support of the company’s product and marketing strategy. He also promised additional updates on business development achievements in the next six to eight weeks.
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The Mobile Star has made great progress so far this year, recently securing the required financing to continue funding ongoing business operations and meet commercial goals during the next six months. The financial agreement calls for the financier to provide multiple tranches during this pre-commercial period.
Over the next two quarters, the company will be focused on the full commercial introduction of the Mobile Star personal karaoke vending machine. The company believes that there is a significant market for the entertainment system, as clearly indicated by the successful pilot executed earlier this year.
Mr. Elbaz assured investors that the team is fully committed to attaining their product’s full commercial potential in the United States in addition to several international markets. He remains confident that through continued efforts to meet further business development goals, the stock price of the company will grow to match its full potential.
In closing, Mr. Elbaz expressed his “tremendous appreciation” to each of the shareholders for continued support of the company’s product and marketing strategy. He also promised additional updates on business development achievements in the next six to eight weeks.
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The QualityStocks Blog Hits 20,000 Milestone!
Wow! It’s hard to believe we’ve put out more than 20,000 articles since adding the blog to our website nearly five years ago. What started out with just two passionate writers has grown into a full staff of writers and journalists with varied interests and expertise to create the multitude of content offered by our site each and every day.
Today, the QualityStocks Blog keeps investors up to date on everything related to the Small-Cap and Micro-Cap markets. Alternative fuels and power sources, entertainment media, telecommunications, delivery services, healthcare, and retail are all covered on a regular basis. By visiting our blog, investors also discover emerging companies that they otherwise would not have heard about.
As we continue to serve the constantly evolving investment community with our rich content, it is our unchanging commitment to connect readers with companies that have huge potential to succeed in the short and long-term future. In addition to our blog, we offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.
Check out our other pages and services below as we continue to find more ways to help investors discover emerging companies that offer excellent growth potential.
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Today, the QualityStocks Blog keeps investors up to date on everything related to the Small-Cap and Micro-Cap markets. Alternative fuels and power sources, entertainment media, telecommunications, delivery services, healthcare, and retail are all covered on a regular basis. By visiting our blog, investors also discover emerging companies that they otherwise would not have heard about.
As we continue to serve the constantly evolving investment community with our rich content, it is our unchanging commitment to connect readers with companies that have huge potential to succeed in the short and long-term future. In addition to our blog, we offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.
Check out our other pages and services below as we continue to find more ways to help investors discover emerging companies that offer excellent growth potential.
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California Community Bank (CABK.OB) Releases Unaudited Third Quarter 2010 Financial Results
Yesterday, California Community Bank released their unaudited third quarter 2010 financial results. They finished the third quarter of 2010 with an asset base of $226,837,000, an increase of $22,800,000, or 11 percent, from the end of September of 2009.
Total deposits for the Bank were $198,557,000, up $22,892,000, or 13 percent, over the same period in the prior year. As of September 30, 2010, total gross loans net of deferred fees, the primary revenue driver for California Community Bank, stood at $158,517,000 compared to $157,566,000 at September 30, 2009, an increase of $951,000, or 1 percent.
For the third quarter of 2010, the Bank reported a net profit of $528,000, or basic earnings per share of 26 cents. This is compared to a net profit of $21,000, or basic earnings per share of 1 cent, for the comparable period last year. The net profit for the first nine months of the year was $1,126,000, or basic earnings per share of 54 cents, versus a net loss of $317,000, or a basic loss per share of 15 cents, for the first nine months of 2009.
Mr. Larry D. Hartwig, President and CEO of California Community Bank, commented, “The Bank ended the quarter with substantial funds to lend to qualified borrowers, but new loan demand continued to be extremely sluggish. We are obviously pleased with our operating results for the quarter, and from a balance sheet standpoint our conservative underwriting has thus far proven durable during the continuing economic downturn. Asset quality metrics remain unchanged, overhead expenses continue to be held flat, funding costs have been reduced substantially, and net earnings have improved”
“We successfully continued to grow our core deposit base, a major contributor toward achievement of an overall 37% year-over-year reduction in interest expense. In summary, we ended the quarter with over $225 million in total assets and recorded a 25% increase in year-to-date net interest income, the principal driver of our return to profitability. All of this speaks well for responsibly building long-term shareholder and franchise value. Credit metrics are still difficult to predict in this economy, but we do know that our conservatively underwritten loan portfolio has continued to perform within acceptable parameters – resulting in only a modest increase to our reserves during the first three quarters of 2010. Management remains focused on normalized profitability and expense control. We are confident in the core strengths of our franchise and we continue to aggressively manage our loan portfolio with the expectation of positive economic growth at some point in the future.”
Mr. Hartwig further commented, “Capital ratios are strong and our conservative loan underwriting is allowing us to navigate through this current credit cycle. In this economy, we also know that loan growth must be driven by market share gains rather than by increased economic activity. Our focus is on our relationship style of banking targeted toward small-to-medium size businesses, professionals, and high net worth individuals within our market area. We have not wavered from generating local market deposits and continue to make loans as usual to qualified borrowers. We also fully recognize the valuable contributions of our highly professional staff in making California Community Bank an outstanding organization committed to providing our customers with ‘Real Solutions. Personally Delivered’.”
Headquartered at 1320 West Valley Parkway in Escondido, California, California Community Bank currently operates four branches. These bank branches are in Escondido, Encinitas, San Diego, and Vista, California. A locally owned community bank, their commitment is to knowing their clients’ banking needs and to knowing their clients’ by name. Their community bankers’ dedication is to take the time to get to know clients’ unique financial services needs, and all decisions are made locally.
For more information visit: www.calcommunitybank.com
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Total deposits for the Bank were $198,557,000, up $22,892,000, or 13 percent, over the same period in the prior year. As of September 30, 2010, total gross loans net of deferred fees, the primary revenue driver for California Community Bank, stood at $158,517,000 compared to $157,566,000 at September 30, 2009, an increase of $951,000, or 1 percent.
For the third quarter of 2010, the Bank reported a net profit of $528,000, or basic earnings per share of 26 cents. This is compared to a net profit of $21,000, or basic earnings per share of 1 cent, for the comparable period last year. The net profit for the first nine months of the year was $1,126,000, or basic earnings per share of 54 cents, versus a net loss of $317,000, or a basic loss per share of 15 cents, for the first nine months of 2009.
Mr. Larry D. Hartwig, President and CEO of California Community Bank, commented, “The Bank ended the quarter with substantial funds to lend to qualified borrowers, but new loan demand continued to be extremely sluggish. We are obviously pleased with our operating results for the quarter, and from a balance sheet standpoint our conservative underwriting has thus far proven durable during the continuing economic downturn. Asset quality metrics remain unchanged, overhead expenses continue to be held flat, funding costs have been reduced substantially, and net earnings have improved”
“We successfully continued to grow our core deposit base, a major contributor toward achievement of an overall 37% year-over-year reduction in interest expense. In summary, we ended the quarter with over $225 million in total assets and recorded a 25% increase in year-to-date net interest income, the principal driver of our return to profitability. All of this speaks well for responsibly building long-term shareholder and franchise value. Credit metrics are still difficult to predict in this economy, but we do know that our conservatively underwritten loan portfolio has continued to perform within acceptable parameters – resulting in only a modest increase to our reserves during the first three quarters of 2010. Management remains focused on normalized profitability and expense control. We are confident in the core strengths of our franchise and we continue to aggressively manage our loan portfolio with the expectation of positive economic growth at some point in the future.”
Mr. Hartwig further commented, “Capital ratios are strong and our conservative loan underwriting is allowing us to navigate through this current credit cycle. In this economy, we also know that loan growth must be driven by market share gains rather than by increased economic activity. Our focus is on our relationship style of banking targeted toward small-to-medium size businesses, professionals, and high net worth individuals within our market area. We have not wavered from generating local market deposits and continue to make loans as usual to qualified borrowers. We also fully recognize the valuable contributions of our highly professional staff in making California Community Bank an outstanding organization committed to providing our customers with ‘Real Solutions. Personally Delivered’.”
Headquartered at 1320 West Valley Parkway in Escondido, California, California Community Bank currently operates four branches. These bank branches are in Escondido, Encinitas, San Diego, and Vista, California. A locally owned community bank, their commitment is to knowing their clients’ banking needs and to knowing their clients’ by name. Their community bankers’ dedication is to take the time to get to know clients’ unique financial services needs, and all decisions are made locally.
For more information visit: www.calcommunitybank.com
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Healthy Fast Food, Inc. (HFFI.OB) Signs Deal to Open a Minimum of Five Cafes in Utah
Yesterday, Healthy Fast Food, Inc., the owner and franchisor of the U-Swirl Frozen Yogurt cafe chain, announced a development agreement with Regents Management, LLC to open two U-Swirl self-serve frozen yogurt cafes in the Salt LAke City metro area, with another three to follow within the next five years.
U-Swirl International, a wholly-owned subsidiary of Healthy Fast Food, Inc. is the company behind a chain of self-serve frozen yogurt cafes. Featuring 20 non-fat flavors, no-sugar options, and toppings that include fresh seasonal fruit, U-Swirl bills itself as a healthy alternative to typical cafe and coffehouse fare. It furthers the goals of its parent company, Healthy Fast Foods, offering more health-conscious alternatives to traditional fast food restaurant menus.
Healthy Fast Food acquired the worldwide rights to the U-Swirl Frozen Yogurt system in 2008, and plans to aggressively market the brand into a global chain.
This deal marks the second such development deal between U-Swirl and Regents; in July 2010, Regents secured development rights to open U-Swirl stores in Boise, Idaho. With the signing of the most recent agreement, the number of U-Swirl cafes expected to be opened within the next five years reaches 35, with a total of six company-owned cafes and forty-three franchised cafes in six states.
Rick Bailey, General Manager of Regent’s new Salt Lake City U-SWIRL operations, stated, “Working with the franchise development team at U-SWIRL International has been nothing short of fantastic, thus fueling our interest in expanding our relationship with the U-SWIRL brand. We chose Salt Lake City as our second U-SWIRL area to develop due to the fact that it is one of the fastest growing markets in the nation with the highest rate of job growth. Moreover, it has long proven to be a city where family values are greatly emphasized and healthy, active lifestyles are preferred. Consequently, we are confident that the U-SWIRL self-serve concept will be quickly embraced by Salt Lakers of all ages and win market distinction as the ‘go to’ place for delicious, healthier frozen treats.”
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U-Swirl International, a wholly-owned subsidiary of Healthy Fast Food, Inc. is the company behind a chain of self-serve frozen yogurt cafes. Featuring 20 non-fat flavors, no-sugar options, and toppings that include fresh seasonal fruit, U-Swirl bills itself as a healthy alternative to typical cafe and coffehouse fare. It furthers the goals of its parent company, Healthy Fast Foods, offering more health-conscious alternatives to traditional fast food restaurant menus.
Healthy Fast Food acquired the worldwide rights to the U-Swirl Frozen Yogurt system in 2008, and plans to aggressively market the brand into a global chain.
This deal marks the second such development deal between U-Swirl and Regents; in July 2010, Regents secured development rights to open U-Swirl stores in Boise, Idaho. With the signing of the most recent agreement, the number of U-Swirl cafes expected to be opened within the next five years reaches 35, with a total of six company-owned cafes and forty-three franchised cafes in six states.
Rick Bailey, General Manager of Regent’s new Salt Lake City U-SWIRL operations, stated, “Working with the franchise development team at U-SWIRL International has been nothing short of fantastic, thus fueling our interest in expanding our relationship with the U-SWIRL brand. We chose Salt Lake City as our second U-SWIRL area to develop due to the fact that it is one of the fastest growing markets in the nation with the highest rate of job growth. Moreover, it has long proven to be a city where family values are greatly emphasized and healthy, active lifestyles are preferred. Consequently, we are confident that the U-SWIRL self-serve concept will be quickly embraced by Salt Lakers of all ages and win market distinction as the ‘go to’ place for delicious, healthier frozen treats.”
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Network Engines, Inc. (NEI) Video Chart for Thursday, October 28, 2010
EI is giving some mixed signals, but appears to be trying to continue an uptrend that began a couple months ago after a sharp drop. Firm support levels are being established and we are watching to see if volume and buying pressure are going to give NEI the push it needs to continue the move north.
Please click the following link: http://www.qualitystocks.net/videocharts.php
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Vystar® Corp. (VYST.OB) Signs Licensing Agreement with KA Prevulcanised Latex Pvt. Ltd. of India
On Thursday, Vystar® Corp. and KA Prevulcanised Latex Pvt. Limited announced that they have entered into a three-year licensing agreement. Per the agreement, KAPVL gains the exclusive rights to manufacture and sell Vystar’s Vytex® Natural Rubber Latex (an all-natural, raw material with reduced levels of antigenic proteins) as its sole low protein in India, Sri Lanka, Pakistan, Bangladesh, Bhutan and Nepal.
The initial agreement period is for three years and is tied to specific minimum sales volumes and quality standards to retain the license and territory exclusivity. Vytex and KAPVL’s agreement positions both companies to capitalize on the natural rubber market in India, which is the second largest behind China. Vystar’s target market is expected to reach 13,000 metric tons in 2010.
Mr. Praveen Mathew, Director of KAPVL, remarked, “We are confident that our agreement with Vystar will work to the benefit of both companies. We at KAPVL have been impressed with the quality and versatility of Vytex, and we believe there is a significant market for Vytex NRL waiting to be tapped in a region with burgeoning growth.”
Vystar Corporation President and CEO, William R. Doyle, added, “This license Agreement allows Vystar access to a protected market where the duties for imported latex raw material hover around seventy percent. There is a large manufacturing base for latex products including gloves, condoms, and foam in India and its neighbors. India is a magnet for leading US and European manufacturers, and has recently been ranked ninth among all countries in industrial production worldwide and has surpassed the U.S. in latex consumption. Consequently, we have very positive expectations as KAPVL begins to immediately manufacture and sell Vytex in this part of the world.”
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The initial agreement period is for three years and is tied to specific minimum sales volumes and quality standards to retain the license and territory exclusivity. Vytex and KAPVL’s agreement positions both companies to capitalize on the natural rubber market in India, which is the second largest behind China. Vystar’s target market is expected to reach 13,000 metric tons in 2010.
Mr. Praveen Mathew, Director of KAPVL, remarked, “We are confident that our agreement with Vystar will work to the benefit of both companies. We at KAPVL have been impressed with the quality and versatility of Vytex, and we believe there is a significant market for Vytex NRL waiting to be tapped in a region with burgeoning growth.”
Vystar Corporation President and CEO, William R. Doyle, added, “This license Agreement allows Vystar access to a protected market where the duties for imported latex raw material hover around seventy percent. There is a large manufacturing base for latex products including gloves, condoms, and foam in India and its neighbors. India is a magnet for leading US and European manufacturers, and has recently been ranked ninth among all countries in industrial production worldwide and has surpassed the U.S. in latex consumption. Consequently, we have very positive expectations as KAPVL begins to immediately manufacture and sell Vytex in this part of the world.”
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Wednesday, October 27, 2010
National Automation Services (NASV.PK) CEO Interview Available at SmallCapVoice
Recently, Bob Chance, President and CEO of National Automation Services, an established regional automation and control systems company with plans to go national in 2011, sat down for an interview with SmallCapVoice.com, discussing the company’s future plans. In particular, he went over the aggressive acquisition strategy they are currently pursuing. Below are some of the key points of the interview:
• The automation and control industry represents a $400 billion per year market. It serves virtually any operation involving the flow of items or materials, providing automation and control technologies that allow these processes to run automatically, with little or no human intervention.
• The industry has only a handful of major companies, such as Siemens, Johnson Controls, and Honeywell, together with roughly 300 small regional companies, mostly in the $3 million to $5 million range. Many of these are excellent companies, but simply don’t have the resources to expand beyond their regional operations.
• The fractured nature of the industry represents an opportunity for NAS to acquire the best of these companies, creating a national presence. The company is already in discussions with acquisition targets, and is expecting to move forward very rapidly, going national sometime next year.
The entire interview can be heard on the SmallCapVoice website, at http://smallcapvoice.com/blog/10-11-10-interview-with-national-automation-services-inc-pink-sheets-nasv
For more information on NAS, see the company’s website at www.NASAutomation.com
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• The automation and control industry represents a $400 billion per year market. It serves virtually any operation involving the flow of items or materials, providing automation and control technologies that allow these processes to run automatically, with little or no human intervention.
• The industry has only a handful of major companies, such as Siemens, Johnson Controls, and Honeywell, together with roughly 300 small regional companies, mostly in the $3 million to $5 million range. Many of these are excellent companies, but simply don’t have the resources to expand beyond their regional operations.
• The fractured nature of the industry represents an opportunity for NAS to acquire the best of these companies, creating a national presence. The company is already in discussions with acquisition targets, and is expecting to move forward very rapidly, going national sometime next year.
The entire interview can be heard on the SmallCapVoice website, at http://smallcapvoice.com/blog/10-11-10-interview-with-national-automation-services-inc-pink-sheets-nasv
For more information on NAS, see the company’s website at www.NASAutomation.com
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Clean Power Technologies Inc. (CPWE.OB) Receives UK Government Grant to Develop Manufacturing Capacity of Waste Heat Energy Recovery Systems
Clean Power, www.cleanpowertechnologies.com – an ingenious design engineering company focused on developing innovative techniques for harnessing waste heat like the Company’s CESAR (clean energy separation and recovery) system , reported reception of a funding Grant for Business Investment from the UK government via SEEDA (South East England Development Agency) today.
By Q1 2011, one-fifth of the reported GBP1M investment plan for prepping CPWE’s Newhaven facility to meet manufacturing/commercialization targets will be covered by the grant and activity will consist of obtaining the appropriate specialist machinery and tooling required.
The technological breakthroughs CPWE has created offer sustainability and efficiency goals much sought after by a global market, the Company’s reputation for performance in commercialization is established and SEEDA recognizes these facts with the grant.
Moreover, the development itself will prove a boon for the Newhaven and South East area.
CTO of CPWE, Mike Burns, commented on how attractive this unique technology is to the market, explaining that the output boost from the system to each engine comes solely from the exhausted/wasted heat energy of each engine being recovered. Burns understands how selective the UK government is and promised the great potential of the future of this technology for multiple efficiency applications.
Manufacturing the first commercial heat recovery units with the newly obtained equipment will place CPWE in prime position to generate returns for its shareholders, as an eager target market of landfill gas powered methane engines seeks the amazing 10% electrical output upgrade.
A prototype unit is currently in operation at a UK landfill site and the Company has vetted several key opportunities to develop future installations around the UK.
Executive Director of Business Development at SEEDA, Susan Priest, affirmed the sentiments expressed by Burns and extolled the contribution to prosperity in Newhaven/South East CPWE’s actions entail, expressing great fondness for the heat recovery technology.
Priest seemed delighted by the potential of the technology to simultaneously address efficiency and carbon footprint reduction goals, as well as the future of the technology itself.
There is a clear global market, a well-defined product space, a robust engineering team with winning technologies and solid governmental backing for CPWE as it moves to exploit the wide range of opportunities available for commercializing its unique systems.
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By Q1 2011, one-fifth of the reported GBP1M investment plan for prepping CPWE’s Newhaven facility to meet manufacturing/commercialization targets will be covered by the grant and activity will consist of obtaining the appropriate specialist machinery and tooling required.
The technological breakthroughs CPWE has created offer sustainability and efficiency goals much sought after by a global market, the Company’s reputation for performance in commercialization is established and SEEDA recognizes these facts with the grant.
Moreover, the development itself will prove a boon for the Newhaven and South East area.
CTO of CPWE, Mike Burns, commented on how attractive this unique technology is to the market, explaining that the output boost from the system to each engine comes solely from the exhausted/wasted heat energy of each engine being recovered. Burns understands how selective the UK government is and promised the great potential of the future of this technology for multiple efficiency applications.
Manufacturing the first commercial heat recovery units with the newly obtained equipment will place CPWE in prime position to generate returns for its shareholders, as an eager target market of landfill gas powered methane engines seeks the amazing 10% electrical output upgrade.
A prototype unit is currently in operation at a UK landfill site and the Company has vetted several key opportunities to develop future installations around the UK.
Executive Director of Business Development at SEEDA, Susan Priest, affirmed the sentiments expressed by Burns and extolled the contribution to prosperity in Newhaven/South East CPWE’s actions entail, expressing great fondness for the heat recovery technology.
Priest seemed delighted by the potential of the technology to simultaneously address efficiency and carbon footprint reduction goals, as well as the future of the technology itself.
There is a clear global market, a well-defined product space, a robust engineering team with winning technologies and solid governmental backing for CPWE as it moves to exploit the wide range of opportunities available for commercializing its unique systems.
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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Royal Mines and Minerals Corp. (RYMM.OB) Joint Ventures with Golden Anvil to Develop Gold and Silver Claims in Mexico
Royal Mines and Minerals, www.royalmmc.com – the minerals exploration firm with a clear strategy based on extraction, the licensing of a proprietary lixiviation process and joint venturing/acquiring in North America, reported execution of a memorandum of understanding (MOU) for a joint venture with Golden Anvil, SA de CV today to explore/develop Golden’s mineral claims in Nayarit, Mexico.
The two companies have formed a 50/50 ownership Nevada corporation, Golden Anvil, Inc. (GAI) towards this end, with GAI acting as operator.
According to the stipulations set forth in the MOU, RYMM will put $3M into GAI, resulting in transfer of some 32,521 acres of mineral claims and all assets of Golden’s ore concentration plant into GAI.
An advancement of $600k directed towards securing land for plant upgrading/relocation has been made by RYMM and operations are projected to commence within the space of 30 days.
Initial projected output of 100 tons of head ore/day, resulting in some 35 tons of concentrate within the first month, are expected to more than double by the second month (200 tons of head ore and 75 tons of concentrate).
The MOU also calls for the raising of $300k by RYMM within 45 days to facilitate retirement of specific mining claim debts; additionally RYMM will provide approximately 45-60 days working capital until the project becomes self-funding with positive cash flow.
With conservative estimates of 5 oz Au and 200 oz Ag per ton of concentrate, this deal looks like a real winner for both RYMM and Golden (further details are available in the SEC-filed MOU).
Director of Operations at RYMM, Mike Boyko, is on-site in Mexico with the Golden team quantifying operational parameters at the plant and has already taken steps to secure a concentration specialist to oversee the first two weeks of operations.
The Company continues to develop its proprietary lixiviation processes, both in the lab and at RYMM’s Phoenix facility, testing ores from the US, Canada and Mexico, as well as Bolivia, Chile, Ecuador, Guyana, Peru and the Philippines.
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The two companies have formed a 50/50 ownership Nevada corporation, Golden Anvil, Inc. (GAI) towards this end, with GAI acting as operator.
According to the stipulations set forth in the MOU, RYMM will put $3M into GAI, resulting in transfer of some 32,521 acres of mineral claims and all assets of Golden’s ore concentration plant into GAI.
An advancement of $600k directed towards securing land for plant upgrading/relocation has been made by RYMM and operations are projected to commence within the space of 30 days.
Initial projected output of 100 tons of head ore/day, resulting in some 35 tons of concentrate within the first month, are expected to more than double by the second month (200 tons of head ore and 75 tons of concentrate).
The MOU also calls for the raising of $300k by RYMM within 45 days to facilitate retirement of specific mining claim debts; additionally RYMM will provide approximately 45-60 days working capital until the project becomes self-funding with positive cash flow.
With conservative estimates of 5 oz Au and 200 oz Ag per ton of concentrate, this deal looks like a real winner for both RYMM and Golden (further details are available in the SEC-filed MOU).
Director of Operations at RYMM, Mike Boyko, is on-site in Mexico with the Golden team quantifying operational parameters at the plant and has already taken steps to secure a concentration specialist to oversee the first two weeks of operations.
The Company continues to develop its proprietary lixiviation processes, both in the lab and at RYMM’s Phoenix facility, testing ores from the US, Canada and Mexico, as well as Bolivia, Chile, Ecuador, Guyana, Peru and the Philippines.
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INVO Bioscience, Inc. (IVOB.OB) – Positive Data Results Support Worldwide Marketing Expansion
INVO Bioscience Inc., a medical device company focused on treatment options for patients diagnosed with infertility, today announced that Dr. Elkin Lucena of the Columbian Fertility and Sterility Center’s (CECOLFES LTDA) in Columbia recently presented the results of 95 fertility treatment cycles involving INFO Bioscience’s INVOcell process. Results were presented at the 66th Annual Meeting of the American Society of Reproductive Medicine (ASRM) in Denver.
INVOcell is INVO Bioscience’s leading medical device, used in infertility treatment that enables egg fertilization and early embryo development in the woman’s vaginal cavity.
The results of CECOLFES’s study demonstrated clinical pregnancy rates of 43 percent with each INVOcell cycle, and a 48 percent clinical pregnancy rate when an embryo has been transferred in the cycle. Efficacy rates were achieved in cycles completed in women from ages 21 to 45; the clinical pregnancy rate for patients aged 40 and younger was 46 percent, matching efficacy rates of currently used infertility treatments.
Claude Ranoux, MD, MS, president and chief scientific officer for INVO Bioscience, said CECOLFES’s results matched those of the company’s studies and outlined the importance of the results.
“We are delighted with the results presented by the Colombian Fertility and Sterility Center and Dr. Lucena. These results are consistent with our in-house data. It is important to note that in the INVOcell process significantly fewer eggs are recruited from patients, which decreases the risk of multiple births and reduces the number of premature births,” Dr. Ranoux stated in the press release. “Combining the comparative cost advantage of the INVOcell treatment versus current treatment regimes, and the ability to significantly reduce the occurrence of multiple pregnancies and their substantial incremental costs, positions INVOcell as an important therapy for infertility patients. The INVO procedure can generate outstanding results while significantly bringing down fertility treatment costs. We are very pleased with these results.”
INVO Bioscience said INVOcell is CE Mark approved in Europe and Canada and meets all consumer health and safety requirements. The device is currently marketed and sold in Austria, Canada, Cameroon, Columbia, Dominican Republic, Guatemala, Nicaragua, Pakistan, Panama, Peru, Spain, Togo, Turkey and Venezuela.
Dr. Ranoux said the results show INVOcell as a global solution to infertility issues and that the company will continue to extending its market reach.
“The report of these results is an important development in the history of the INVOcell device and process. The presentation of the positive results of this data at the prestigious ASRM Annual Meeting represents a powerful affirmation by one of the renowned pioneers in the fertility field, Dr. Lucena, as an effective, safe, and cost efficient technology. The INVO procedure will address a problem that affects millions of infertile patients worldwide. We look forward to leveraging this event as we continue our efforts to widely commercialize this revolutionary alternative for deserving patients in need of these life-fulfilling treatments,” he stated.
For more information visit www.invobioscience.com
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INVOcell is INVO Bioscience’s leading medical device, used in infertility treatment that enables egg fertilization and early embryo development in the woman’s vaginal cavity.
The results of CECOLFES’s study demonstrated clinical pregnancy rates of 43 percent with each INVOcell cycle, and a 48 percent clinical pregnancy rate when an embryo has been transferred in the cycle. Efficacy rates were achieved in cycles completed in women from ages 21 to 45; the clinical pregnancy rate for patients aged 40 and younger was 46 percent, matching efficacy rates of currently used infertility treatments.
Claude Ranoux, MD, MS, president and chief scientific officer for INVO Bioscience, said CECOLFES’s results matched those of the company’s studies and outlined the importance of the results.
“We are delighted with the results presented by the Colombian Fertility and Sterility Center and Dr. Lucena. These results are consistent with our in-house data. It is important to note that in the INVOcell process significantly fewer eggs are recruited from patients, which decreases the risk of multiple births and reduces the number of premature births,” Dr. Ranoux stated in the press release. “Combining the comparative cost advantage of the INVOcell treatment versus current treatment regimes, and the ability to significantly reduce the occurrence of multiple pregnancies and their substantial incremental costs, positions INVOcell as an important therapy for infertility patients. The INVO procedure can generate outstanding results while significantly bringing down fertility treatment costs. We are very pleased with these results.”
INVO Bioscience said INVOcell is CE Mark approved in Europe and Canada and meets all consumer health and safety requirements. The device is currently marketed and sold in Austria, Canada, Cameroon, Columbia, Dominican Republic, Guatemala, Nicaragua, Pakistan, Panama, Peru, Spain, Togo, Turkey and Venezuela.
Dr. Ranoux said the results show INVOcell as a global solution to infertility issues and that the company will continue to extending its market reach.
“The report of these results is an important development in the history of the INVOcell device and process. The presentation of the positive results of this data at the prestigious ASRM Annual Meeting represents a powerful affirmation by one of the renowned pioneers in the fertility field, Dr. Lucena, as an effective, safe, and cost efficient technology. The INVO procedure will address a problem that affects millions of infertile patients worldwide. We look forward to leveraging this event as we continue our efforts to widely commercialize this revolutionary alternative for deserving patients in need of these life-fulfilling treatments,” he stated.
For more information visit www.invobioscience.com
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A5 Laboratories Inc. (AFLB.OB) Video Chart for Wednesday, October 27, 2010
After a sharp drop, AFLB has been trying to put together a recovery over the last two weeks. Higher lows are being made, but the pps is pinned against some resistance at this point. We are looking for strong buying pressure to push its way through, and if it slips, hold the newly established support level.
Please click the following link: http://www.qualitystocks.net/videocharts.php
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Lotus Pharmaceuticals, Inc. (LTUS) Receives Phase I Approval for Asthma Drug
Lotus Pharmaceuticals, Inc. reported that the company has received approval from the regulatory authorities in China to begin Phase I clinical trials for one of its drug candidates – R-Bambuterol Hydrochloride, which is used to treat Asthma
Lotus Pharmaceuticals, Inc. said that the Phase I trials would include studying the tolerance of the drug in humans, and pharmacokinetics, which is the study of what the body does to the drug after dosage.
Lotus Pharmaceuticals, Inc. said that research conducted by a third party indicated that the Asthma market in China is approximately $300 million annually, and as many as 40 million suffer from the condition.
The Beijing Zenith International Medical Science and Technology Development Company Limited will conduct the Phase I clinical trials. Lotus Pharmaceuticals, Inc. said that R-Bambuterol Hydrochloride is a Class I drug, which gives Lotus Pharmaceuticals, Inc. patent protection for 22 years.
Lotus Pharmaceuticals, Inc. does business through Liang Fang Pharmaceutical, Ltd. and En Ze Jia Shi Pharmaceutical, two controlled entities. The company is also working on drugs to treat cerebro-cardiovascular diseases and diabetes.
For more information on the company, go to www.lotuspharma.com
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Lotus Pharmaceuticals, Inc. said that the Phase I trials would include studying the tolerance of the drug in humans, and pharmacokinetics, which is the study of what the body does to the drug after dosage.
Lotus Pharmaceuticals, Inc. said that research conducted by a third party indicated that the Asthma market in China is approximately $300 million annually, and as many as 40 million suffer from the condition.
The Beijing Zenith International Medical Science and Technology Development Company Limited will conduct the Phase I clinical trials. Lotus Pharmaceuticals, Inc. said that R-Bambuterol Hydrochloride is a Class I drug, which gives Lotus Pharmaceuticals, Inc. patent protection for 22 years.
Lotus Pharmaceuticals, Inc. does business through Liang Fang Pharmaceutical, Ltd. and En Ze Jia Shi Pharmaceutical, two controlled entities. The company is also working on drugs to treat cerebro-cardiovascular diseases and diabetes.
For more information on the company, go to www.lotuspharma.com
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True 2 Beauty Inc. (TRTB.PK) to Substantially Increase Production Capacity with Two Custom-Built 10-Line Packaging Machines
True 2 Beauty Inc., a leading manufacturer and distributor of sexual potency pills and liquid products, announced this morning that the “Libigrow” family of products has begun the first phase of its production capacity expansion, ordering two custom-built 10-line packaging machines.
These machines, using Libigrow’s proprietary process of packaging, will together be capable of producing 20,000 packages per hour; significantly increasing daily capacity. The first of the two machines is expected to be delivered by early 1Q 2011. With the current backlogs of orders, the company anticipates that the first machine will run 24 hours a day for 7 days in order to fill the current backorders.
Alex Hbaiu, President and CEO of True 2 Beauty, Inc., stated, “These custom-built packaging machines will not only allow us to satisfy our rapidly growing demand but also begin our multi- million dollar national brand awareness campaign in the near future.” The company intends to order four more machines next year to maintain Libigrow’s growth projections.
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These machines, using Libigrow’s proprietary process of packaging, will together be capable of producing 20,000 packages per hour; significantly increasing daily capacity. The first of the two machines is expected to be delivered by early 1Q 2011. With the current backlogs of orders, the company anticipates that the first machine will run 24 hours a day for 7 days in order to fill the current backorders.
Alex Hbaiu, President and CEO of True 2 Beauty, Inc., stated, “These custom-built packaging machines will not only allow us to satisfy our rapidly growing demand but also begin our multi- million dollar national brand awareness campaign in the near future.” The company intends to order four more machines next year to maintain Libigrow’s growth projections.
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Uranium Energy Corp. (UEC) Announces Completion of $27.5 Million Financing
Uranium Energy Corp. announced today that, effective yesterday, it has completed its previously announced private placement financing involving the sale of an aggregate of 8,111,313 units of the company, at a price of $3.40 per Unit, for gross proceeds of $27,578,464.20.
Each Unit consists of one common share of common stock and one-half of one transferable common stock purchase warrant of the company, with each such whole warrant being exercisable for one additional common share of the companyat an exercise price of $3.95 per warrant share for a period of one year from closing.
Amir Adnani, president and CEO commented, “We are pleased to complete this financing. We have a number of expansion and production opportunities to address. But first, the Company’s focus is on achieving initial production at the Palangana ISR project in the coming weeks.”
Rodman & Renshaw LLC, Haywood Securities Inc., together with a number of other registered dealers, acted as non-exclusive placement agents for the financing.
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Each Unit consists of one common share of common stock and one-half of one transferable common stock purchase warrant of the company, with each such whole warrant being exercisable for one additional common share of the companyat an exercise price of $3.95 per warrant share for a period of one year from closing.
Amir Adnani, president and CEO commented, “We are pleased to complete this financing. We have a number of expansion and production opportunities to address. But first, the Company’s focus is on achieving initial production at the Palangana ISR project in the coming weeks.”
Rodman & Renshaw LLC, Haywood Securities Inc., together with a number of other registered dealers, acted as non-exclusive placement agents for the financing.
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Sohu.com Inc. (SOHU) Announces Solid Q3 2010 Results
Sohu.com, www.sohu.com – China’s top online brand, with a domain for just about everything from searching to gaming, integrates such a dizzying array of web properties, social media/community-based and web 2.0-driven entities at its main portal that it has become an indispensable hub of activity for the lives of millions of Chinese daily and it comes as little surprise that a recent announcement of unaudited Q3 (ended Sept. 30) financials set new records.
Chairman and CEO of SOHU, Dr. Charles Zhang, beamed at the record quarter which posted solid revenue/gross margin growth in every one of the Company’s major business segments, posting record highs with operating parameters comfortably exceeding Group guidance:
Total Revenue up 20% (compared to FY09) to $164.1M (12% compared to Q3 FY09)
• Brand Advertising Revenue up 22% to $59.1M (11% over Q3 FY09)
• Search Revenue up 134% to $5.4M (38%)
• Online Games Revenue up 25% to $85.6M (10%)
• Wireless Revenue down 19% to $13.6M or up 23% on a quarter comparison to FY09
• Net Income up 15% to $54M (19%) prior to Non-Controlling Interest deductions, or $38.7M after deductions, or up 12% (24%) with $1.01/fully-diluted share
• Gross Margin was 74% in Q3, up one percent from Q2 and off by 2% from Q3 FY09
• Operating expenses were $55.6
• Operating Margin was 40% for Q3 up 5% from Q2 and 1% from Q3 FY09
• Non-Cash Income Tax Expense was $0.7M
• Strong Debt-free balance with a solid cash position of $534.7M
Dr. Zhang characterized the incredible financial performance of the Company as being driven by key elements like SOHU’s biggest segment, online games in addition to the rapidly expanding brand advertising business being driven by strong economic conditions in China.
Co-President and COO of SOHU, Belinda Wang, added that that advertising partner network and associated end markets in China, combined with the power of SOHU’s online platform was producing synergistic relationships as advertisers rally around the Company’s superior cost to performance ratios.
Online gaming has quickly grown to be a dominant force in the modern world and SOHU is leading the pack with several new and highly-successful expansions for some of its most popular games in addition to debuting new games that also proved to be big sellers.
Dr. Zhang laid out a clear game plan for continued success which includes the systematic incorporation of high-def streaming content into the overall platform as well as enhancement of the Sogou search business.
User feedback driven development initiatives were also explored further yielding substantial results as the merger between social media and active content draws ever closer.
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Chairman and CEO of SOHU, Dr. Charles Zhang, beamed at the record quarter which posted solid revenue/gross margin growth in every one of the Company’s major business segments, posting record highs with operating parameters comfortably exceeding Group guidance:
Total Revenue up 20% (compared to FY09) to $164.1M (12% compared to Q3 FY09)
• Brand Advertising Revenue up 22% to $59.1M (11% over Q3 FY09)
• Search Revenue up 134% to $5.4M (38%)
• Online Games Revenue up 25% to $85.6M (10%)
• Wireless Revenue down 19% to $13.6M or up 23% on a quarter comparison to FY09
• Net Income up 15% to $54M (19%) prior to Non-Controlling Interest deductions, or $38.7M after deductions, or up 12% (24%) with $1.01/fully-diluted share
• Gross Margin was 74% in Q3, up one percent from Q2 and off by 2% from Q3 FY09
• Operating expenses were $55.6
• Operating Margin was 40% for Q3 up 5% from Q2 and 1% from Q3 FY09
• Non-Cash Income Tax Expense was $0.7M
• Strong Debt-free balance with a solid cash position of $534.7M
Dr. Zhang characterized the incredible financial performance of the Company as being driven by key elements like SOHU’s biggest segment, online games in addition to the rapidly expanding brand advertising business being driven by strong economic conditions in China.
Co-President and COO of SOHU, Belinda Wang, added that that advertising partner network and associated end markets in China, combined with the power of SOHU’s online platform was producing synergistic relationships as advertisers rally around the Company’s superior cost to performance ratios.
Online gaming has quickly grown to be a dominant force in the modern world and SOHU is leading the pack with several new and highly-successful expansions for some of its most popular games in addition to debuting new games that also proved to be big sellers.
Dr. Zhang laid out a clear game plan for continued success which includes the systematic incorporation of high-def streaming content into the overall platform as well as enhancement of the Sogou search business.
User feedback driven development initiatives were also explored further yielding substantial results as the merger between social media and active content draws ever closer.
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