UniTek Global Services Inc., a leading provider of various infrastructure services to the wireless and wireline telecommunications, broadband cable and satellite television industries, today announced financial results for the fourth quarter and year ended December 31, 2010, and provided financial guidance for the first quarter and full year 2011.
Fourth-quarter revenue increased 49 percent to $100.6 million for the quarter ended December 31, 2010, from $67.6 million in the quarter ended December 31, 2009.
Net loss for the quarter was $(12.1 million) compared to a net loss of $(41.9 million) reported in the fourth quarter of 2009.
For the full year ended December 31, 2010, the company reported a 45-percent increase in revenue to $402.2 million compared to $278.1 million in 2009.
Net loss improved by $35.0 million to $(30.6 million) for the year ended December 31, 2010, compared to a net loss of $(65.6 million) reported in 2009.
As of December 31, 2010, the company reported its three-year backlog totaled $914.2 million as compared to $709.0 million on a pro forma basis, factoring in the merger with Berliner, as of December 31, 2009.
“2010 was a tremendous year for our company, as we accomplished our stated goals, both operationally and strategically, and positioned the company for continued success in 2011 and beyond. During 2010, we successfully merged with Berliner Communications, a public company, strengthened our balance sheet through the November offering, continued to improve both the size and quality of our backlog through ongoing new customer wins and contract renewals,” C. Scott Hisey, UniTek’s CEO, stated in the press release.
The company also offered first quarter and full-year 2011 guidance, with first quarter 2011 Adjusted EBITDA expected at approximately $6.0 million on revenue of approximately $91.0 million. Full-year revenue is expected to be between $465.0 million and $490.0 million, with Adjusted EBITDA of between $44.0 million and $48.0 million, all including the anticipated effects of the Pinnacle acquisition.
“We believe that the markets in which we operate are poised for growth in 2011 through continued nationwide infrastructure development and technological advancement. We anticipate our planned acquisition of Pinnacle Wireless will provide us another growth engine by expanding our presence into the multi-billion dollar public safety wireless segment, and we believe that our combined expertise positions the company, as the owner of Pinnacle, to capture meaningful share in this growing market,” Hisey stated.
For more information visit www.unitekgs.com
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Thursday, March 31, 2011
RXi Pharmaceuticals Corp. (RXII) Signs Definitive Merger to Acquire Apthera Inc. for Late Stage-Clinical Development
RXi Pharmaceuticals Corp., a discovery-stage biopharmaceutical company that focuses on the development and commercialization of proprietary therapeutics on RNA interference, has announced the signing of a definitive merger agreement to acquire Apthera, Inc., a private biotechnology company that develops a pipeline of peptide-based immunotherapies for the adjuvant treatment of HER2-positive breast and other cancers. The acquisition will provide RXi with a late stage product candidate, NeuVax™, which is a peptide-based immunotherapy for low-to-intermediate HER2+ breast cancer, not eligible for Herceptin®, which has been expected to enter Phase III clinical trials by the first half of 2012. The company’s very first RNAi product, RXI-109 created for anti-scarring, remains on the path for an investigational new drug (IND) application filing for this year.
Per terms of the agreement, Apthera shareholders will receive approximately 4.8 million shares of RXi’s common stock. Apthera’s shareholders will also be authorized to possible payments based on the achievement of specific development and commercial achievements relating to Apthera’s NeuVax™ candidate.
With relation to the acquisition, Mark J. Ahn, PhD, who is currently a member of RXi’s Board of Directors, will be succeeding Noah D. Beerman as the President and Chief Executive Officer of RXi and will be leading the combined company, which will be operating from RXi’s current headquarters.
“Mark Ahn brings significant experience and leadership in developing and commercializing major oncology and immunology therapeutics,” said Sanford Hillsberg, RXi’s Chairman of the Board. “We want to thank Noah Beerman for his excellent service as RXi’s President and Chief Executive Officer during our transition from a research to a product oriented company. We are delighted that Noah will be assisting us in the coming months as a consultant to the Company and wish him well in his future endeavors.”
Dr. Ahn, 48, holds over 20+ years of experience in the biopharmaceutical industry. He recently served as Principal at Pukana Partners, Ltd., a provider of strategic consulting to life sciences companies; and inacademic positions at Willamette University and Chair, Science & Technology Management, Atkinson Graduate School of Management, Victoria University at Wellington, New Zealand. Dr. Ahn is also the founder, President, and CEO of Hana Biosciences. Preceding Hana, he served as Vice President, Hematology and corporate officer at Genentech, Inc. Dr. Ahn also held senior positions at Amgen and Bristol-Myers Squibb Company. Dr. Ahn has served on various public and venture capital-backed boards of directors.
“The RXi-Apthera merger represents an exciting turning point in which we are advancing from being a technology platform company to a late stage product development company aimed at blockbuster therapeutic markets. Acquiring Apthera’s cancer vaccine product candidates builds upon the promising RNAi based pre-clinical work related to cancer vaccines that we have recently been doing at RXi,” stated Mark Ahn, President & CEO.
“With this successful transition we have streamlined our operations, integrated the RXi and Apthera management teams, and reduced our early stage RNAi research and development activities that will free up financial and other resources as part of focusing our sights on bringing our first RNAi product to commence human clinical trials in anti-scarring in early 2012. We are also initiating NeuVax into a Phase III clinical trial in breast cancer, which is targeted for the first half of 2012.” “I believe the combination of Apthera’s late stage breast cancer candidate and RXi’s experience will accelerate the progress of NeuVax into the clinic” stated Dr. Mark W. Schwartz, President and CEO of Apthera, who will become the Executive Vice President and Chief Operating Officer of RXi following the merger. “The combined companies will accelerate the development of the compound for the benefit of patients and physicians in treating this significant disease”.
RXi Pharmaceuticals Corp., a discovery-stage biopharmaceutical company, focuses on the development and commercial of proprietary therapeutics based on RNA interference for the treatment of human diseases in the U.S. and abroad. The company intends to identify lead compounds and advance towards pre-clinical and clinical development programs in various therapeutic areas, including its core focus of developing treatments for anti-scarring and retinal disorders, as well as interests in oncology and indications accessible by spinal cord delivery. The company, which was formerly known as Argonaut Pharmaceuticals, Inc., changed its name to RXi Pharmaceuticals Corporation in 2006 before beginning its operations in 2007. RXi Pharmaceuticals which was founded in 2003, is headquartered in Worcester, Massachusetts.
For more information on the company and its future endeavors, visit their company website http://www.rxipharma.com
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Per terms of the agreement, Apthera shareholders will receive approximately 4.8 million shares of RXi’s common stock. Apthera’s shareholders will also be authorized to possible payments based on the achievement of specific development and commercial achievements relating to Apthera’s NeuVax™ candidate.
With relation to the acquisition, Mark J. Ahn, PhD, who is currently a member of RXi’s Board of Directors, will be succeeding Noah D. Beerman as the President and Chief Executive Officer of RXi and will be leading the combined company, which will be operating from RXi’s current headquarters.
“Mark Ahn brings significant experience and leadership in developing and commercializing major oncology and immunology therapeutics,” said Sanford Hillsberg, RXi’s Chairman of the Board. “We want to thank Noah Beerman for his excellent service as RXi’s President and Chief Executive Officer during our transition from a research to a product oriented company. We are delighted that Noah will be assisting us in the coming months as a consultant to the Company and wish him well in his future endeavors.”
Dr. Ahn, 48, holds over 20+ years of experience in the biopharmaceutical industry. He recently served as Principal at Pukana Partners, Ltd., a provider of strategic consulting to life sciences companies; and inacademic positions at Willamette University and Chair, Science & Technology Management, Atkinson Graduate School of Management, Victoria University at Wellington, New Zealand. Dr. Ahn is also the founder, President, and CEO of Hana Biosciences. Preceding Hana, he served as Vice President, Hematology and corporate officer at Genentech, Inc. Dr. Ahn also held senior positions at Amgen and Bristol-Myers Squibb Company. Dr. Ahn has served on various public and venture capital-backed boards of directors.
“The RXi-Apthera merger represents an exciting turning point in which we are advancing from being a technology platform company to a late stage product development company aimed at blockbuster therapeutic markets. Acquiring Apthera’s cancer vaccine product candidates builds upon the promising RNAi based pre-clinical work related to cancer vaccines that we have recently been doing at RXi,” stated Mark Ahn, President & CEO.
“With this successful transition we have streamlined our operations, integrated the RXi and Apthera management teams, and reduced our early stage RNAi research and development activities that will free up financial and other resources as part of focusing our sights on bringing our first RNAi product to commence human clinical trials in anti-scarring in early 2012. We are also initiating NeuVax into a Phase III clinical trial in breast cancer, which is targeted for the first half of 2012.” “I believe the combination of Apthera’s late stage breast cancer candidate and RXi’s experience will accelerate the progress of NeuVax into the clinic” stated Dr. Mark W. Schwartz, President and CEO of Apthera, who will become the Executive Vice President and Chief Operating Officer of RXi following the merger. “The combined companies will accelerate the development of the compound for the benefit of patients and physicians in treating this significant disease”.
RXi Pharmaceuticals Corp., a discovery-stage biopharmaceutical company, focuses on the development and commercial of proprietary therapeutics based on RNA interference for the treatment of human diseases in the U.S. and abroad. The company intends to identify lead compounds and advance towards pre-clinical and clinical development programs in various therapeutic areas, including its core focus of developing treatments for anti-scarring and retinal disorders, as well as interests in oncology and indications accessible by spinal cord delivery. The company, which was formerly known as Argonaut Pharmaceuticals, Inc., changed its name to RXi Pharmaceuticals Corporation in 2006 before beginning its operations in 2007. RXi Pharmaceuticals which was founded in 2003, is headquartered in Worcester, Massachusetts.
For more information on the company and its future endeavors, visit their company website http://www.rxipharma.com
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Force Energy Corp. (FORC) is “One to Watch”
Force Energy Corp., based in Denver, Colorado, is one of a handful of intelligent companies getting into lithium production in North America and is also a developer of hydrocarbons.
The cornerstone of the emerging hybrid and electric vehicle market, which stands to be huge globally, and much of the personal and portable technology modern civilization runs on, requires lithium for the lithium-ion (Li-ion) batteries that sustain or supply power. Other end markets like ceramics, especially industrial process ceramics and the like, as well as glass, lubricating greases and other products, make lithium an extremely hot commodity when one considers the global resource distribution and accessibilities.
Force Energy recognizes the strategic importance of domestic lithium production signified by the 2009 American Recovery and Reinvestment Act DOE allocation of $2.4B in grants to fund domestic Li-ion infrastructure development and is rapidly advancing its current project base.
The primary project currently under development is the 128-acre, Zoro 1 Lithium Property near the eastern shore of Wekusko Lake in west-central Manitoba, Canada where the Company maintains a 100% working interest (WI). The site hosts a series of seven prominent pegmatite dykes, the westerly most of which is some 6 meters high and 27 m wide, stretching for a length of 183 m. Collectively the resource represents a reserve estimate of some 1.728M undiluted tons at 0.945% Li20 (lithium oxide) based on extant and more recent drill and trenching data.
The other project under development is the Hayter Well, in which the Company maintains a 50% WI. The well was spudded back in January of 2007 and has produced well log data indicating a 4-5 meter thick gas zone and 2 meter pay zone of oil in the Dina Sand. Recent work by County Line, a 3D seismic program that cost some $650k and which was based on a geological model generated from data on the previous 16k-barrel producing well, has validated a much larger, multi-well anomaly. The nature of the large anomaly indentified in the 3D seismic program suggests that the previously tapped anomaly exists to a much larger extent on the property than previously thought.
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The cornerstone of the emerging hybrid and electric vehicle market, which stands to be huge globally, and much of the personal and portable technology modern civilization runs on, requires lithium for the lithium-ion (Li-ion) batteries that sustain or supply power. Other end markets like ceramics, especially industrial process ceramics and the like, as well as glass, lubricating greases and other products, make lithium an extremely hot commodity when one considers the global resource distribution and accessibilities.
Force Energy recognizes the strategic importance of domestic lithium production signified by the 2009 American Recovery and Reinvestment Act DOE allocation of $2.4B in grants to fund domestic Li-ion infrastructure development and is rapidly advancing its current project base.
The primary project currently under development is the 128-acre, Zoro 1 Lithium Property near the eastern shore of Wekusko Lake in west-central Manitoba, Canada where the Company maintains a 100% working interest (WI). The site hosts a series of seven prominent pegmatite dykes, the westerly most of which is some 6 meters high and 27 m wide, stretching for a length of 183 m. Collectively the resource represents a reserve estimate of some 1.728M undiluted tons at 0.945% Li20 (lithium oxide) based on extant and more recent drill and trenching data.
The other project under development is the Hayter Well, in which the Company maintains a 50% WI. The well was spudded back in January of 2007 and has produced well log data indicating a 4-5 meter thick gas zone and 2 meter pay zone of oil in the Dina Sand. Recent work by County Line, a 3D seismic program that cost some $650k and which was based on a geological model generated from data on the previous 16k-barrel producing well, has validated a much larger, multi-well anomaly. The nature of the large anomaly indentified in the 3D seismic program suggests that the previously tapped anomaly exists to a much larger extent on the property than previously thought.
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Simulated Environment Concepts, Inc.’s (SMEV) SpaCapsule Hits the Gym
SpaCapsule, the flagship product of Simulated Environment Concepts, has long been known as the premier integrated massage and sensory stimulation system for addressing stress and body aches. It’s been distributed in so many countries around the world that the company now guarantees to provide the touch screen interface in virtually any language.
But all of that is being eclipsed by the growing response generated from research conducted by Dermscan, the well-known French testing and efficacy verification laboratory. In an eye-opening study, the independent laboratory found that SpaCapsule is in fact a powerful tool in promoting weight loss, cellulite reduction, and overall body toning. Specifically, the study showed, after only 20 sessions with SpaCapsule:
• Significant weight loss recorded and measured in 87% of subjects
• Significant decrease of hips perimeter in 73% of subjects
• Significant decrease of stomach perimeter in 67% of subjects
• Significant decrease in thighs perimeter in 73% of subjects
• Improvement in reported skin elasticity in 80% of subjects
• Improvement in reported skin texture in 94% of subjects
SpaCapsule, once targeting primarily luxury spas and doctors’ offices as an anti-stress solution, now finds interest growing in the fitness center sector. An example is the BodySmart franchise, where SpaCapsule is now considered a therapy for people with cellulite problems, and is regularly incorporated into their workout regimens. Dr. Ilya Spivak, co-inventor of SpaCapsule, is now willing to say that the system “can greatly assist with achieving weight loss goals as a standalone device”.
SE Concepts anticipates increasing demand in the gym and fitness center market as the news continues to spread. As a result, the company expects to develop strategic relationships and co-branding partnerships with fitness franchises and related businesses throughout the world.
For more information, visit www.SpaCapsule.com and their corporate website at www.SECCorporation.com
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But all of that is being eclipsed by the growing response generated from research conducted by Dermscan, the well-known French testing and efficacy verification laboratory. In an eye-opening study, the independent laboratory found that SpaCapsule is in fact a powerful tool in promoting weight loss, cellulite reduction, and overall body toning. Specifically, the study showed, after only 20 sessions with SpaCapsule:
• Significant weight loss recorded and measured in 87% of subjects
• Significant decrease of hips perimeter in 73% of subjects
• Significant decrease of stomach perimeter in 67% of subjects
• Significant decrease in thighs perimeter in 73% of subjects
• Improvement in reported skin elasticity in 80% of subjects
• Improvement in reported skin texture in 94% of subjects
SpaCapsule, once targeting primarily luxury spas and doctors’ offices as an anti-stress solution, now finds interest growing in the fitness center sector. An example is the BodySmart franchise, where SpaCapsule is now considered a therapy for people with cellulite problems, and is regularly incorporated into their workout regimens. Dr. Ilya Spivak, co-inventor of SpaCapsule, is now willing to say that the system “can greatly assist with achieving weight loss goals as a standalone device”.
SE Concepts anticipates increasing demand in the gym and fitness center market as the news continues to spread. As a result, the company expects to develop strategic relationships and co-branding partnerships with fitness franchises and related businesses throughout the world.
For more information, visit www.SpaCapsule.com and their corporate website at www.SECCorporation.com
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CUI Global, Inc. (CUGI) Posts FY2010 Results, Record Revenues of $40M
CUI Global Inc., a platform company dedicated to the acquisition, development, and commercialization of new, innovative technologies, along with its wholly owned subsidiaries, today announced year-end financial results for the year ended December 31, 2010.
Net revenues increased 41 percent in 2010 to a record $40.9 million as compared to $28.8 million reported for 2009.
The company reported a net loss of $7.0 million, a substantial reduction from $16.0 million in 2009 (as restated). The company attributes the net loss in 2010 primarily to interest expenses totaling $5.1 million and non-cash impairment expense of $3.5 million, as compared to $4.6 million and 10.8 million, respectively, in 2009.
Net cash provided by operating activities increased 60 percent to $629,000 in 2010 as compared to $384,000 in 2009.
New sales orders received by the company in 2010 reached a record $42.5 million, up more than 60 percent from new sales orders totaling $26.4 million in 2009.
“These results clearly demonstrate the effectiveness of our recent initiatives,” William Clough, CEO of CUI Global stated in the press release, “including the re-structure of our sales group, the retirement and/or re-structure of significant debt, and the introduction and commercialization of our new, proprietary technologies.”
Clough said the company anticipates growth through new product offerings and partnerships in the upcoming year.
“During 2010 and now into 2011, we are continuing to seek out and acquire new product lines, identify strategic partnerships, develop new technologies, and institute other initiatives to reduce costs. We expect these efforts will increase revenues and enhance profitability, while improving shareholder value,” Clough stated.
For more information visit www.cuiglobal.com and www.cui.com
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Net revenues increased 41 percent in 2010 to a record $40.9 million as compared to $28.8 million reported for 2009.
The company reported a net loss of $7.0 million, a substantial reduction from $16.0 million in 2009 (as restated). The company attributes the net loss in 2010 primarily to interest expenses totaling $5.1 million and non-cash impairment expense of $3.5 million, as compared to $4.6 million and 10.8 million, respectively, in 2009.
Net cash provided by operating activities increased 60 percent to $629,000 in 2010 as compared to $384,000 in 2009.
New sales orders received by the company in 2010 reached a record $42.5 million, up more than 60 percent from new sales orders totaling $26.4 million in 2009.
“These results clearly demonstrate the effectiveness of our recent initiatives,” William Clough, CEO of CUI Global stated in the press release, “including the re-structure of our sales group, the retirement and/or re-structure of significant debt, and the introduction and commercialization of our new, proprietary technologies.”
Clough said the company anticipates growth through new product offerings and partnerships in the upcoming year.
“During 2010 and now into 2011, we are continuing to seek out and acquire new product lines, identify strategic partnerships, develop new technologies, and institute other initiatives to reduce costs. We expect these efforts will increase revenues and enhance profitability, while improving shareholder value,” Clough stated.
For more information visit www.cuiglobal.com and www.cui.com
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China Clean Energy Inc. (CCGY) Reports Financial Results and Updates Guidance
China Clean Energy Inc. reported strong year over year increases in sales and net income for the fourth quarter of 2010 and full year. The company also released guidance for 2011 on sales and operating income.
China Clean Energy Inc. attributed the strong results to an increase in sales volume and average selling prices enabled by an increase in capacity and strong demand for its products.
China Clean Energy Inc. reported sales of $18.1 million in the fourth quarter of 2010, compared to $4.9 million in the fourth quarter in 2009. Sales for all of 2010 totaled $59.0 million, compared to $15.9 million in 2009.
China Clean Energy Inc. reported net income of $2.2 million, or $0.07 per diluted share, in the final quarter of 2010. The company had net income of $0.6 million, or $0.02 per diluted share, in the fourth quarter of 2009. In 2010, China Clean Energy Inc. earned net income of $6.4 million, or $0.20 per diluted share, compared to a net loss of $0.3 million, or $0.01 per diluted share, in 2009.
China Clean Energy Inc. also issued guidance for 2011, and expects to earn operating income of $14 million on sales of approximately $75 million.
For more information on the company, go to www.chinacleanenergyinc.com
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China Clean Energy Inc. attributed the strong results to an increase in sales volume and average selling prices enabled by an increase in capacity and strong demand for its products.
China Clean Energy Inc. reported sales of $18.1 million in the fourth quarter of 2010, compared to $4.9 million in the fourth quarter in 2009. Sales for all of 2010 totaled $59.0 million, compared to $15.9 million in 2009.
China Clean Energy Inc. reported net income of $2.2 million, or $0.07 per diluted share, in the final quarter of 2010. The company had net income of $0.6 million, or $0.02 per diluted share, in the fourth quarter of 2009. In 2010, China Clean Energy Inc. earned net income of $6.4 million, or $0.20 per diluted share, compared to a net loss of $0.3 million, or $0.01 per diluted share, in 2009.
China Clean Energy Inc. also issued guidance for 2011, and expects to earn operating income of $14 million on sales of approximately $75 million.
For more information on the company, go to www.chinacleanenergyinc.com
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Lfye Communications, Inc. (LYFE) Appoints New CEO
Utah-based Lyfe Communications, Inc. is a technology leader in the development of next generation media services integrating television, high-speed internet and enhanced voice services for delivery over IP. The company announced today that Lyfe co-founder Greg Smith has been appointed chief executive officer. He has over 17 years of technology and product development experience in digital media technology businesses.
Before joining Lyfe Communications, Mr. Smith served as chief technology officer at DG FastChannel. Prior to that, he was chief technology officer at Move Networks, the world leader in adaptive streaming video technologies. In addition, Mr. Smith also served as senior product manager & director of technologies at Edgix and was part of the business development and product teams at PanAmSat and Space Systems/Loral.
Mr. Smith also served as vice-president of technologies and products and vice-president of sales at All Media Gate, the leading business-to-business provider of descriptive entertainment metadata, media recognition and recommendation technologies, and the web’s most popular consumer research sites for music and movie data.
The change in leadership at Lyfe Communications comes on the heels of important technology platform development milestones for the company. It has developed the technologies required for new media services and will be delivering these services in 2011. With Mr. Smith’s extensive technology background and experience in next generation entertainment and communications platforms, Lfye feels he is a perfect fit.
For more information about Lyfe Communications, please visit the company’s website at www.connectedlyfe.com
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Before joining Lyfe Communications, Mr. Smith served as chief technology officer at DG FastChannel. Prior to that, he was chief technology officer at Move Networks, the world leader in adaptive streaming video technologies. In addition, Mr. Smith also served as senior product manager & director of technologies at Edgix and was part of the business development and product teams at PanAmSat and Space Systems/Loral.
Mr. Smith also served as vice-president of technologies and products and vice-president of sales at All Media Gate, the leading business-to-business provider of descriptive entertainment metadata, media recognition and recommendation technologies, and the web’s most popular consumer research sites for music and movie data.
The change in leadership at Lyfe Communications comes on the heels of important technology platform development milestones for the company. It has developed the technologies required for new media services and will be delivering these services in 2011. With Mr. Smith’s extensive technology background and experience in next generation entertainment and communications platforms, Lfye feels he is a perfect fit.
For more information about Lyfe Communications, please visit the company’s website at www.connectedlyfe.com
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ViewCast Corp. (VCST) Posts 3rd Straight Quarter of Revenue Growth
ViewCast Corp., a developer of industry-leading solutions for the transformation, management and delivery of digital media over enterprise, broadband and mobile networks, posted its fourth-quarter results for the three months ended December 31, 2010, reporting its third consecutive quarter of solid year-over-year revenue growth.
Fourth quarter 2010 revenues increased 44 percent to $5.0 million from $3.4 million in the prior year period.
Operating expenses for the quarter were $2.7 million as compared to $2.4 million reported for the fourth quarter of 2009. Operating income increased $196,000 for the fourth quarter 2010 compared to a loss of $(275,000) for the year-earlier period.
Net income for the fourth quarter 2010 was $142,000, or a net loss per share of $(0.00), compared to a loss of $(301,000), or a net loss per share of $(0.01), in the fourth quarter 2009.
Full-year 2010 revenues increased 25 percent to $17.3 million compared to $13.9 million for the full year of 2009.
Operating expenses for 2010 were $10.9 million, compared to $11.4 million in 2009. The operating loss was $377,000 compared to an operating loss of $2.7 million in 2009.
Net loss for 2010 was $(551,000), or a net loss per share of $(0.04), compared to a net loss of $(2.8 million), or a net loss per share of $(0.10), in 2009.
ViewCast president and CEO Dave Stoner said sales for the upcoming year are solid, and that the company plans on expanding its sales force for new distribution opportunities.
“The sustained improvement in top and bottom line performance in the fourth quarter and throughout 2010 indicates that the turnaround is progressing and we are focused on reaching new levels of productivity and growth in the new year. Our sales pipeline across our product portfolio continues to be healthy and we are seeing customers returning to more normal patterns of investment as they look for new ways to monetize their digital media assets,” Stoner stated in the press release. “We continue to expand our portfolio with products like the Niagara 4100, ideally suited for remote events using wireless broadband uplinks where wired networks are not available. And we are expanding our sales force and distribution channels worldwide to drive new customers and business opportunities in the coming quarters. We look forward to driving record levels of revenue in 2011.”
For more information visit www.viewcast.com
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Fourth quarter 2010 revenues increased 44 percent to $5.0 million from $3.4 million in the prior year period.
Operating expenses for the quarter were $2.7 million as compared to $2.4 million reported for the fourth quarter of 2009. Operating income increased $196,000 for the fourth quarter 2010 compared to a loss of $(275,000) for the year-earlier period.
Net income for the fourth quarter 2010 was $142,000, or a net loss per share of $(0.00), compared to a loss of $(301,000), or a net loss per share of $(0.01), in the fourth quarter 2009.
Full-year 2010 revenues increased 25 percent to $17.3 million compared to $13.9 million for the full year of 2009.
Operating expenses for 2010 were $10.9 million, compared to $11.4 million in 2009. The operating loss was $377,000 compared to an operating loss of $2.7 million in 2009.
Net loss for 2010 was $(551,000), or a net loss per share of $(0.04), compared to a net loss of $(2.8 million), or a net loss per share of $(0.10), in 2009.
ViewCast president and CEO Dave Stoner said sales for the upcoming year are solid, and that the company plans on expanding its sales force for new distribution opportunities.
“The sustained improvement in top and bottom line performance in the fourth quarter and throughout 2010 indicates that the turnaround is progressing and we are focused on reaching new levels of productivity and growth in the new year. Our sales pipeline across our product portfolio continues to be healthy and we are seeing customers returning to more normal patterns of investment as they look for new ways to monetize their digital media assets,” Stoner stated in the press release. “We continue to expand our portfolio with products like the Niagara 4100, ideally suited for remote events using wireless broadband uplinks where wired networks are not available. And we are expanding our sales force and distribution channels worldwide to drive new customers and business opportunities in the coming quarters. We look forward to driving record levels of revenue in 2011.”
For more information visit www.viewcast.com
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Gryphon Gold Corp. (GYPH) Video Chart for Thursday, March 31, 2011
GYPH made a nice bounce after a sharp drop, but has given back some of the gains. Technical traders often expect a retrace after the initial bounce and will then look for a new higher low for the beginning of a possible upward trend.
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Millennium Pharmaceutical Becomes First Customer for Bioclinica’s (BIOC) New Product
Yesterday, Millennium Pharmacetical signed an agreement with BioClinica to become the first licensed customer for their new Enterprise Demand Aggregator (EDA) product. BioClinica and Millennium will work in conjunction in order to release the product more quickly. This will assist in Millennium’s clinical trial supply planning.
Millennium: The Takeda Oncology Company is a biopharm company located in Cambridge, MA. Millennium markets VELCADE, a proteasome inhibitor, as well as maintains a series of products in development. Millennium’s commercial products are focused on oncology. BioClinica is a provider of clinical trial management solutions, supporting pharmaceutical and medical device development. BioClinica provides services such as data capture and internet transport, interactive voice and web response, and clinical tial management, among others.
Millennium has previously been using BioClinica’s Optimizer since 2007 to predict supply needs for their trials, which has improved efficiency and cost benefits. The new EDA system will gather information from the planning phases of Millennium’s Optimizer-simulated trials and supply the company with a long-term view of demand. The EDA will also augment the Optimizer abilities, allowing it to give macro-level forecasts for studies in the early stages of planning, supply predictions for studies, analysis of enterprise demands, running theoretical what-if situations and integrating with supply chain systems.
“As we now want to improve and standardize our clinical supply forecasting and management across multiple trials with greater control than ever before, BioClinica’s Enterprise Demand Aggregator application is a great addition for us,” said Paul Skerker, Ph.D., Senior Director of Investigational Supply Operations for Millennium.
“BioClinica is introducing another eClinical offering which we anticipate will become an industry standard. We believe our rapidly expanding clinical and supply chain solutions are individually best-in-class, and the integration of our product offerings drive benefits unmatched in the industry,” said Peter Benton, President of eClinical Solutions for BioClinica. “The pharmaceutical industry relies on technology innovation to drive necessary efficiencies. This partnership demonstrates Millennium’s commitment to innovate while also validating the benefits that BioClinica’s Optimizer technology provides.”
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Millennium: The Takeda Oncology Company is a biopharm company located in Cambridge, MA. Millennium markets VELCADE, a proteasome inhibitor, as well as maintains a series of products in development. Millennium’s commercial products are focused on oncology. BioClinica is a provider of clinical trial management solutions, supporting pharmaceutical and medical device development. BioClinica provides services such as data capture and internet transport, interactive voice and web response, and clinical tial management, among others.
Millennium has previously been using BioClinica’s Optimizer since 2007 to predict supply needs for their trials, which has improved efficiency and cost benefits. The new EDA system will gather information from the planning phases of Millennium’s Optimizer-simulated trials and supply the company with a long-term view of demand. The EDA will also augment the Optimizer abilities, allowing it to give macro-level forecasts for studies in the early stages of planning, supply predictions for studies, analysis of enterprise demands, running theoretical what-if situations and integrating with supply chain systems.
“As we now want to improve and standardize our clinical supply forecasting and management across multiple trials with greater control than ever before, BioClinica’s Enterprise Demand Aggregator application is a great addition for us,” said Paul Skerker, Ph.D., Senior Director of Investigational Supply Operations for Millennium.
“BioClinica is introducing another eClinical offering which we anticipate will become an industry standard. We believe our rapidly expanding clinical and supply chain solutions are individually best-in-class, and the integration of our product offerings drive benefits unmatched in the industry,” said Peter Benton, President of eClinical Solutions for BioClinica. “The pharmaceutical industry relies on technology innovation to drive necessary efficiencies. This partnership demonstrates Millennium’s commitment to innovate while also validating the benefits that BioClinica’s Optimizer technology provides.”
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UnionTown Energy, Inc. (UTOG) Appoints Oil Veteran to Board of Directors
UnionTown Energy, Inc. announced the appointment of Al Radford to their Board of Directors. Radfor, a senior business executive, has a forty year career, a decade of which has been spent in the oil field service industry.
UnionTown acquires and develops properties for oil and natural gas production, and is constructing a portfolio of assets in energy-production assets in oil fields through North America. This includes both known and producing oil fields.
Currently Radford is the President of Formation Fluid Management Inc., which is publicly traded on the TSX Venture Stock Exchange. Before this, he was the General Sales Manager for Terroco Industries, an oil field service company. Under his time there, his work grew sales from $22 million to $86 million over six years. Radford has built and designed oil field products, negotiated with oil companies, and lobbied for implementation of a tax rebate on oil production.
“Based on his extensive public company and oil industry experience, Mr. Radford will provide UnionTown Energy with strong operational management skills, business planning, reporting and corporate governance oversight,” said UnionTown President and CEO Darren Stevenson. “We welcome his future contributions to our growing business, including receiving his input on key company decisions as we move forward with our business growth plan and property acquisition strategy.”
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UnionTown acquires and develops properties for oil and natural gas production, and is constructing a portfolio of assets in energy-production assets in oil fields through North America. This includes both known and producing oil fields.
Currently Radford is the President of Formation Fluid Management Inc., which is publicly traded on the TSX Venture Stock Exchange. Before this, he was the General Sales Manager for Terroco Industries, an oil field service company. Under his time there, his work grew sales from $22 million to $86 million over six years. Radford has built and designed oil field products, negotiated with oil companies, and lobbied for implementation of a tax rebate on oil production.
“Based on his extensive public company and oil industry experience, Mr. Radford will provide UnionTown Energy with strong operational management skills, business planning, reporting and corporate governance oversight,” said UnionTown President and CEO Darren Stevenson. “We welcome his future contributions to our growing business, including receiving his input on key company decisions as we move forward with our business growth plan and property acquisition strategy.”
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Strong Sales Drive CHDT Corp. (CHDO) to Record Revenue
Deerfield Beach, Florida-based CHDT Corporation, a holding company generating revenue through its wholly-owned subsidiaries, recently announced that its subsidiary Capstone Industries, Inc. is kicking off 2011 with a massive surge in sales.
Capstone has been serving the industry for more than ten years and specializes in the design, production, and distribution of consumer products as a supplier to major retail operations throughout North America and Latin America. Capstone develops and distributes unique and inventive products to a variety of channels including bookstore chains, convenience stores, drug & grocery, electronics, hardware, home improvement, internet, mail order, mass market, office supply, specialty, and warehouse clubs. Shipped and booked orders during the first ten weeks of 2011 topped total figures reported for all of 2010. Also notable is the fact that historically the first quarter of the year is the slowest sales quarter for Capstone.
This morning, CHDT Corp. made an official announcement stating that Q1 Revenue surpassed projections by registering $2.5 million in sales and a record size backlog of over $3 million. The backlog orders are slated to be shipped during the second and third quarters of 2011. Revenue for the first quarter totaled $2,146,964; representing a whopping 608 percent growth as compared to the same quarter in 2009.
The successful 2010 launch of the Company’s eReader-Lite and eBook-Lite, which are adjustable lights for eReaders, Light Ringers (LED desk lamps) and C-Lites (wireless motion sensor lights) throughout a variety of retail channels added to the company clocking additional revenue in addition to their popular Eco-i-Lite line of products. No earnings information was released, but the Company did state that a profitable quarter is anticipated. If positive numbers are reported, it would be the first quarter ever in which CHDT operated in the black.
Commenting on the stellar results, Stewart Wallach, CEO of CHDT Corporation, stated, “As I mentioned in our year-end conference call, the future for CHDT Corporation has never been brighter. Revenues are strong and growing, profits are expected and we have a significant order backlog coming into Q2. We had a positive show last month at the International Home and Housewares Show and expect more products and additional retailers to come on board.”
More information on CHDT Corporation and its business strategies can be found on the Company’s website at www.chdtcorp.com
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Capstone has been serving the industry for more than ten years and specializes in the design, production, and distribution of consumer products as a supplier to major retail operations throughout North America and Latin America. Capstone develops and distributes unique and inventive products to a variety of channels including bookstore chains, convenience stores, drug & grocery, electronics, hardware, home improvement, internet, mail order, mass market, office supply, specialty, and warehouse clubs. Shipped and booked orders during the first ten weeks of 2011 topped total figures reported for all of 2010. Also notable is the fact that historically the first quarter of the year is the slowest sales quarter for Capstone.
This morning, CHDT Corp. made an official announcement stating that Q1 Revenue surpassed projections by registering $2.5 million in sales and a record size backlog of over $3 million. The backlog orders are slated to be shipped during the second and third quarters of 2011. Revenue for the first quarter totaled $2,146,964; representing a whopping 608 percent growth as compared to the same quarter in 2009.
The successful 2010 launch of the Company’s eReader-Lite and eBook-Lite, which are adjustable lights for eReaders, Light Ringers (LED desk lamps) and C-Lites (wireless motion sensor lights) throughout a variety of retail channels added to the company clocking additional revenue in addition to their popular Eco-i-Lite line of products. No earnings information was released, but the Company did state that a profitable quarter is anticipated. If positive numbers are reported, it would be the first quarter ever in which CHDT operated in the black.
Commenting on the stellar results, Stewart Wallach, CEO of CHDT Corporation, stated, “As I mentioned in our year-end conference call, the future for CHDT Corporation has never been brighter. Revenues are strong and growing, profits are expected and we have a significant order backlog coming into Q2. We had a positive show last month at the International Home and Housewares Show and expect more products and additional retailers to come on board.”
More information on CHDT Corporation and its business strategies can be found on the Company’s website at www.chdtcorp.com
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UnionTown Energy Inc. (UTOG) Solidifies Terms of Definitive Agreement for the New Miami Property Acquisition, Plans Aggressive Drilling Campaign
UnionTown Energy, the North America-focused oil and gas developer reported consolidation of the material terms for a definitive agreement today whereby the Company will acquire the promising “New Miami” resource property. UnionTown has also issued a non-refundable $300k advance in conjunction with the move towards acquisition that will contribute to the eventual purchase price.
The New Miami property in northern Montana rests within a tantalizingly prolific oil and gas district that has seen in excess of 300M barrels of oil and 500B cubic feet of natural gas to date, all produced within a 50 mile radius.
This acquisition bears all the fundamental characteristics of surrounding fields and one proximal field some 4 miles away alone has exceeded 30M barrels, making the New Miami a high-potential acquisition target for UTOG.
Projections by UTOG indicate the capacity for some 17 shallow, horizontal oil wells, which could be brought up to production speed very quickly by industry standards and at attractively low cost/risk. Projections confirmed by the existence of two previously drilled wells which have validated the shallow oil accumulation directly under the property.
Reports on extant drilling, whose data is characterized as being conservative, have led to the consider analysis by UTOG that the property holds an estimated 2.4M barrels of oil recoverable.
President and CEO of UTOG, Darren Stevenson, remarked on the Company’s intentions to move forward rapidly with a comprehensive drilling program at New Miami, saying that the planned horizontal drilling program would be designed to maximize exploitation of the available resource.
Stevenson concluded by pointing out the upside to UTOG shareholders, noting clearly that the accelerated development of this low risk property, which has strikingly positive indicators of high productivity, will directly translate into exceptional returns and called the move to acquire the New Miami as an important milestone in the Company’s history.
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The New Miami property in northern Montana rests within a tantalizingly prolific oil and gas district that has seen in excess of 300M barrels of oil and 500B cubic feet of natural gas to date, all produced within a 50 mile radius.
This acquisition bears all the fundamental characteristics of surrounding fields and one proximal field some 4 miles away alone has exceeded 30M barrels, making the New Miami a high-potential acquisition target for UTOG.
Projections by UTOG indicate the capacity for some 17 shallow, horizontal oil wells, which could be brought up to production speed very quickly by industry standards and at attractively low cost/risk. Projections confirmed by the existence of two previously drilled wells which have validated the shallow oil accumulation directly under the property.
Reports on extant drilling, whose data is characterized as being conservative, have led to the consider analysis by UTOG that the property holds an estimated 2.4M barrels of oil recoverable.
President and CEO of UTOG, Darren Stevenson, remarked on the Company’s intentions to move forward rapidly with a comprehensive drilling program at New Miami, saying that the planned horizontal drilling program would be designed to maximize exploitation of the available resource.
Stevenson concluded by pointing out the upside to UTOG shareholders, noting clearly that the accelerated development of this low risk property, which has strikingly positive indicators of high productivity, will directly translate into exceptional returns and called the move to acquire the New Miami as an important milestone in the Company’s history.
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Wednesday, March 30, 2011
Sandstorm Gold Ltd. (SSL) Completes Construction at Brigus Gold Corp.’s (BRD) Black Fox Mine, Announces US$9 Million Payment to Metanor Resources (MTO
Sandstorm Gold Ltd. (SSL), a resource based company that focuses on completing gold purchase agreements with advanced stage project companies, recently announced that Brigus Gold Corp. (BRD) has finally completed its construction of the new underground infrastructure of its Black Fox Mine.
Underground ore production has begun and is expected to exceed 250 tons per day (TPD) at the end of March 2011, reaching commercial production by April 2011 and 1,100 tpd by the end of this year. The expected increase in production is partly attributed to the new 1.1-kilometer ramp leading from surface to the 235-meter level underground, which will allow Brigus Gold to use a much larger and more productive haulage fleet.
While the underground infrastructure was under construction, mining from Phase 1 open pit operations were very restricted, but Phase 2 open pit operations started on March 23, 2011 proceeding the commissioning of a brand new ventilation and service raise and the removal of the older facility. The Black Fox Mill is expected to be operating with feed coming from both the open pit and underground at 2,000 tons per day.
Under the terms of the gold purchase agreement, which was announced on November 9, 2010, Sandstorm will be entitled to purchase 12% of the life of mine gold that is produced from Black Fox at a per ounce price that is equal to the lesser of US$500 and the then prevailing gold price on the market. For more information on the Black Fox Mine, visit Brigus Gold’s company website at www.brigusgold.com
Sandstorm Gold also announced that it has remitted US$9 million to Metanor Resources Inc., a company that engages in the exploration of mineral properties in Canada, in accordance to its gold purchase agreement that was announced on January 17,2011. Under the terms present in the agreement, Sandstorm is entitled to make a purchase of 20% of the life of mine gold that is produced from the Bachelor Lake project at a per ounce price that is equal or lesser of US$500 and the then market price of gold.
Metanor has received US$14 million as of now from Sandstorm with the final US$6 million payment to be scheduled for September 1, 2011. For more information on the Bachelor Lake Project and other information, visit Metanor Resources company website www.metanor.ca.
Sandstorm Gold Ltd., a resource based company, strives on completing gold purchases agreements with companies that have advanced stage development projects or operating mines. It engages in mine financing business, as well as providing an alternative to mining companies who are in search of capital. The company, which was formerly known as Sandstorm Resources Ltd., changed its name to Sandstorm Gold Ltd. on February 17, 2011. Sandstorm Gold Ltd, which was incorporated in 2007, is based in Vancouver, Canada.
For more information on Sandstorm Gold Ltd. and its latest projects, visit their company website http://www.sandstormresources.com
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Underground ore production has begun and is expected to exceed 250 tons per day (TPD) at the end of March 2011, reaching commercial production by April 2011 and 1,100 tpd by the end of this year. The expected increase in production is partly attributed to the new 1.1-kilometer ramp leading from surface to the 235-meter level underground, which will allow Brigus Gold to use a much larger and more productive haulage fleet.
While the underground infrastructure was under construction, mining from Phase 1 open pit operations were very restricted, but Phase 2 open pit operations started on March 23, 2011 proceeding the commissioning of a brand new ventilation and service raise and the removal of the older facility. The Black Fox Mill is expected to be operating with feed coming from both the open pit and underground at 2,000 tons per day.
Under the terms of the gold purchase agreement, which was announced on November 9, 2010, Sandstorm will be entitled to purchase 12% of the life of mine gold that is produced from Black Fox at a per ounce price that is equal to the lesser of US$500 and the then prevailing gold price on the market. For more information on the Black Fox Mine, visit Brigus Gold’s company website at www.brigusgold.com
Sandstorm Gold also announced that it has remitted US$9 million to Metanor Resources Inc., a company that engages in the exploration of mineral properties in Canada, in accordance to its gold purchase agreement that was announced on January 17,2011. Under the terms present in the agreement, Sandstorm is entitled to make a purchase of 20% of the life of mine gold that is produced from the Bachelor Lake project at a per ounce price that is equal or lesser of US$500 and the then market price of gold.
Metanor has received US$14 million as of now from Sandstorm with the final US$6 million payment to be scheduled for September 1, 2011. For more information on the Bachelor Lake Project and other information, visit Metanor Resources company website www.metanor.ca.
Sandstorm Gold Ltd., a resource based company, strives on completing gold purchases agreements with companies that have advanced stage development projects or operating mines. It engages in mine financing business, as well as providing an alternative to mining companies who are in search of capital. The company, which was formerly known as Sandstorm Resources Ltd., changed its name to Sandstorm Gold Ltd. on February 17, 2011. Sandstorm Gold Ltd, which was incorporated in 2007, is based in Vancouver, Canada.
For more information on Sandstorm Gold Ltd. and its latest projects, visit their company website http://www.sandstormresources.com
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ProTek Capital, Inc. (PRPM) “One to Watch”
ProTek Capital is focused on bringing together public and privately held software companies, through direct investment or outright acquisition, in order to serve shareholders the optimal return on investment possible.
Having recently changed the name and focus of the Company, PRPM is now eagerly pursuing the vision of constructing a world-class technology provider. The name change followed the sale of wholly-owned subsidiary Propalms Ltd. in a share exchange valued at $2.3M and consisting of 100M shares of NX Global, Inc. Consistent with the corporate strategy, the Board also approved a dividend to the Company’s shareholders, whereby shareholders received one restricted share of NX Global stock for every thirty shares of PRPM owned.
The strategic acquisition of small, highly focused software companies which are just emerging from start up and are either looking to sell the infrastructure, or expand aggressively, is an ideal tactical profile for PRPM given the exploding global tech market. By providing small, already profitable tech companies with the necessary springboard to reach their maximum potential, or through acquiring said companies, PRPM is looking to generate massive revenue.
With offices in the Eastern US and in the UK, the Company has already rapidly developed a network of deal sources which enable a global reach that is underwritten by the competencies of subsidiaries like Acute Systems Consulting LLC, which recently secured a $25k purchase order from a prominent Florida engineering company for a variety of hosted services, data storage and backup solutions.
The Acute Systems Consulting acquisition, which was valued at $300k, has opened up a broad new front in cloud computing for PRPM. The footprint acquired along with Acute has emboldened the Company to venture further, especially considering the already booming business in the cloud computing sector being done by Acute, and PRPM is looking more closely at expanding into the sector, even ahead of other acquisitions.
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Having recently changed the name and focus of the Company, PRPM is now eagerly pursuing the vision of constructing a world-class technology provider. The name change followed the sale of wholly-owned subsidiary Propalms Ltd. in a share exchange valued at $2.3M and consisting of 100M shares of NX Global, Inc. Consistent with the corporate strategy, the Board also approved a dividend to the Company’s shareholders, whereby shareholders received one restricted share of NX Global stock for every thirty shares of PRPM owned.
The strategic acquisition of small, highly focused software companies which are just emerging from start up and are either looking to sell the infrastructure, or expand aggressively, is an ideal tactical profile for PRPM given the exploding global tech market. By providing small, already profitable tech companies with the necessary springboard to reach their maximum potential, or through acquiring said companies, PRPM is looking to generate massive revenue.
With offices in the Eastern US and in the UK, the Company has already rapidly developed a network of deal sources which enable a global reach that is underwritten by the competencies of subsidiaries like Acute Systems Consulting LLC, which recently secured a $25k purchase order from a prominent Florida engineering company for a variety of hosted services, data storage and backup solutions.
The Acute Systems Consulting acquisition, which was valued at $300k, has opened up a broad new front in cloud computing for PRPM. The footprint acquired along with Acute has emboldened the Company to venture further, especially considering the already booming business in the cloud computing sector being done by Acute, and PRPM is looking more closely at expanding into the sector, even ahead of other acquisitions.
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Achillion Pharmaceuticals (ACHN) Reports Positive Phase 2a Clinical Results for Hepatitis C Treatment
Achillion Pharmaceuticals Inc., an innovative pharmaceutical focused on solutions against infectious disease including hepatitis C and resistant bacterial infections, today announced top-line results from its on-going phase 2a clinical trial of ACH-1625 dosed once daily in combination with Pegasys(R) and Copegus(R) a current standard of care (SOC) in patients with chronic hepatitis C (HCV) infection.
The first of a two-segment phase 2a trial involved 64 patients administered three doses of ACH-1625 or placebo with peginterferon alfa-2a and ribavirin, dosed for a four-week study. The analysis demonstrated that 75-81 percent of patients receiving ACH-1625 achieved rapid virologic response (RVR) with a promising safety and tolerability profile; all patients receiving four weeks of treatment with ACH-1625 demonstrated continuous and substantial declines in HCV RNA with no viral breakthrough during therapy at any of the doses.
After the four weeks of ACH-1625 administration, patients were treated with SOC, in which there were no discontinuations due to adverse events and there were no serious adverse events (SAEs) reported.
“These data reflect a positive outcome with high RVR, irrespective of IL28B status, which places ACH-1625 among the most potent protease inhibitors in development,” Elizabeth A. Olek, M.D., vice president and chief medical officer of Achillion stated in the press release. Dr. Olek said the company will select two of the doses and commence the second segment of the trial, dosing ACH-1625 with SOC over 12 weeks.
“We are quite pleased with the continued robust efficacy results and good safety profile with once-daily doses of ACH-1625,” Michael D. Kishbauch, Achillion’s president and CEO stated. “ACH-1625 continues to demonstrate best-in-class features, including once-daily dosing, robust antiviral activity, coupled with safety and tolerability for patients. These attributes distinguish our drug and suggest it could offer improvements over other next-generation protease inhibitors that will reach the market mid-decade.”
The company noted that in phase 1a clinical studies ACH-1625 was well tolerated at all doses and there were no SAEs, and no clinically significant changes in vital signs, electrocardiograms or laboratory evaluations. In phase 1b clinical studies, HCV-infected patients receiving doses showed mean maximal reductions in viral load.
For more information visit www.achillion.com
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The first of a two-segment phase 2a trial involved 64 patients administered three doses of ACH-1625 or placebo with peginterferon alfa-2a and ribavirin, dosed for a four-week study. The analysis demonstrated that 75-81 percent of patients receiving ACH-1625 achieved rapid virologic response (RVR) with a promising safety and tolerability profile; all patients receiving four weeks of treatment with ACH-1625 demonstrated continuous and substantial declines in HCV RNA with no viral breakthrough during therapy at any of the doses.
After the four weeks of ACH-1625 administration, patients were treated with SOC, in which there were no discontinuations due to adverse events and there were no serious adverse events (SAEs) reported.
“These data reflect a positive outcome with high RVR, irrespective of IL28B status, which places ACH-1625 among the most potent protease inhibitors in development,” Elizabeth A. Olek, M.D., vice president and chief medical officer of Achillion stated in the press release. Dr. Olek said the company will select two of the doses and commence the second segment of the trial, dosing ACH-1625 with SOC over 12 weeks.
“We are quite pleased with the continued robust efficacy results and good safety profile with once-daily doses of ACH-1625,” Michael D. Kishbauch, Achillion’s president and CEO stated. “ACH-1625 continues to demonstrate best-in-class features, including once-daily dosing, robust antiviral activity, coupled with safety and tolerability for patients. These attributes distinguish our drug and suggest it could offer improvements over other next-generation protease inhibitors that will reach the market mid-decade.”
The company noted that in phase 1a clinical studies ACH-1625 was well tolerated at all doses and there were no SAEs, and no clinically significant changes in vital signs, electrocardiograms or laboratory evaluations. In phase 1b clinical studies, HCV-infected patients receiving doses showed mean maximal reductions in viral load.
For more information visit www.achillion.com
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MIND C.T.I. Ltd. (MNDO) Selected by Pelephone as Billing and Customer Care Solution to Support Launch of MVNO Platform
Located in Yoqneam, Israel, MIND has quickly evolved into a leading provider of convergent end-to-end billing and customer care product based solutions for service providers as well as telecom expense management solutions. Today MIND took a major step towards prominence with the announcement they have joined forces with Pelephone Communication to provide a billing solution for MVNO’s.
Pelephone is respected as a pioneer in the Israeli mobile marketplace as Israeli’s first mobile operator with over 2.8 million subscribers. MIND will now provide Pelephone with an integrated end-to-end convergent billing and customer care solution for full support of its Mobile Virtual Network Enabler (MVNE).
Leading the way at MIND is Monica Iancu who serves as the company’s Chairman and CEO. Iancu provided comment on the company’s newly formed relationship with Pelephone. Commenting on the relationship, Iancu stated, “We are excited to have been selected for the first time by a tier one operator in Israel. We are committed to Pelephone’s success in their MVNO platform operation and hope to be able to expand our partnership.”
Currently, MIND is trading in the $3.27 range. With this new business relationship and a number of positive occurrences within their pipeline, MIND is truly a company on the move.
To learn more about this new business relationship and MIND’s company as a whole, visit their corporate website at: www.mindcti.com
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Pelephone is respected as a pioneer in the Israeli mobile marketplace as Israeli’s first mobile operator with over 2.8 million subscribers. MIND will now provide Pelephone with an integrated end-to-end convergent billing and customer care solution for full support of its Mobile Virtual Network Enabler (MVNE).
Leading the way at MIND is Monica Iancu who serves as the company’s Chairman and CEO. Iancu provided comment on the company’s newly formed relationship with Pelephone. Commenting on the relationship, Iancu stated, “We are excited to have been selected for the first time by a tier one operator in Israel. We are committed to Pelephone’s success in their MVNO platform operation and hope to be able to expand our partnership.”
Currently, MIND is trading in the $3.27 range. With this new business relationship and a number of positive occurrences within their pipeline, MIND is truly a company on the move.
To learn more about this new business relationship and MIND’s company as a whole, visit their corporate website at: www.mindcti.com
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Willow Creek Enterprises Inc. (WLOC) Receives Promising Technical Report on Hercules Property Indicating an Inferred Resource of 417k Gold Equivalent
Willow Creek Enterprises, the precious/base mineral exploration company currently focused on developing gold resources in North America, reported the reception today of a very promising technical report and resource analysis on the Company’s Hercules Property, indicating an inferred resource of some 417k gold-equivalent ounces.
President of WLOC, Terry Fields, expressed confidence that this data will provide the Company with the necessary foundation to move forward with the proposed drilling program.
According to the data in the report, the Hercules is characterized as being relatively underexplored, having some ten historically validated zones of epithermal gold-silver mineralization and a mineralization profile which indicates that the overall epithermal gold-silver system is directly analogous to the Comstock Lode deposit some 15 km away.
Prior drill data from the report shows significant gold mineralization associated with intense quartz-adularia alteration in the bearing strata of volcanic rock and quartz veins, greatly increasing the probability, which was also forecasted in the report, of a sequence of deeper veins of gold mineralization.
The Company is already looking for estimates on the drill program for the 1720-acre, 86 mining claim Hercules property, which is situated right in the middle of the prolific Walker Lane Mineral Belt in Nevada.
Fields was particularly taken by one part of the report, which remarkably detailed the entire series of typical characteristics long known to indicate an epithermal-style deposit:
• Alteration of wall rock shows multi-stage epithermal silicification, peripheral/advanced argillic alteration and widespread distal propylitization
• Silicic zone of alteration bears lots of cloudy/drusy quartz veins, adularia and and multi-stagechalcedonic quartz
• Argillic zone bearing kaolinite, sericite and alunite
• Propylitic zone of alteration bears mostly chlorite, calcite and siderite
• Sulphide mineralization – namely, pyrite and marcasite in the alteration suite
• Gangue minerals like arsenopyrite, silver sulphosalts and electrum
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President of WLOC, Terry Fields, expressed confidence that this data will provide the Company with the necessary foundation to move forward with the proposed drilling program.
According to the data in the report, the Hercules is characterized as being relatively underexplored, having some ten historically validated zones of epithermal gold-silver mineralization and a mineralization profile which indicates that the overall epithermal gold-silver system is directly analogous to the Comstock Lode deposit some 15 km away.
Prior drill data from the report shows significant gold mineralization associated with intense quartz-adularia alteration in the bearing strata of volcanic rock and quartz veins, greatly increasing the probability, which was also forecasted in the report, of a sequence of deeper veins of gold mineralization.
The Company is already looking for estimates on the drill program for the 1720-acre, 86 mining claim Hercules property, which is situated right in the middle of the prolific Walker Lane Mineral Belt in Nevada.
Fields was particularly taken by one part of the report, which remarkably detailed the entire series of typical characteristics long known to indicate an epithermal-style deposit:
• Alteration of wall rock shows multi-stage epithermal silicification, peripheral/advanced argillic alteration and widespread distal propylitization
• Silicic zone of alteration bears lots of cloudy/drusy quartz veins, adularia and and multi-stagechalcedonic quartz
• Argillic zone bearing kaolinite, sericite and alunite
• Propylitic zone of alteration bears mostly chlorite, calcite and siderite
• Sulphide mineralization – namely, pyrite and marcasite in the alteration suite
• Gangue minerals like arsenopyrite, silver sulphosalts and electrum
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Gunpowder Gold Corp. (GUNP) Updates Arizona Exploration Program
Gunpowder Gold Corp. issued an update on its exploration and development program in the United States. The company is actively looking for areas that are prospective for gold and other precious metals.
Gunpowder Gold has started the Phase One exploration program at the Dome Rock property located in La Paz County, Arizona. The company expects to have the first results from that program in April 2011.
Phase One involves several different processes to determine the mineral content of the property. Gunpowder Gold is conducting stream sediment sampling on different washes near the claims area, and will test the sediment samples for 34 different elements. The company will use the inductively coupled plasma test on the samples.
The exploration program will also obtain chip samples from each claim area on the property and assay these samples for gold content.
The Dome Rock property is approximately 1,280 acres and is composed of sixty two unpatented mining claims. The property is in the fairway of the Walker Lane Gold Trend, which has produced millions of ounces of gold and silver since being discovered.
For more information on the company, go to www.gunpowdergold.com
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Gunpowder Gold has started the Phase One exploration program at the Dome Rock property located in La Paz County, Arizona. The company expects to have the first results from that program in April 2011.
Phase One involves several different processes to determine the mineral content of the property. Gunpowder Gold is conducting stream sediment sampling on different washes near the claims area, and will test the sediment samples for 34 different elements. The company will use the inductively coupled plasma test on the samples.
The exploration program will also obtain chip samples from each claim area on the property and assay these samples for gold content.
The Dome Rock property is approximately 1,280 acres and is composed of sixty two unpatented mining claims. The property is in the fairway of the Walker Lane Gold Trend, which has produced millions of ounces of gold and silver since being discovered.
For more information on the company, go to www.gunpowdergold.com
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Research Agreement Announced Between BG Medicine Inc. (BGMD) and Boston Scientific
BG Medicine Inc. is a life sciences company focused on the discovery, development and commercialization of novel blood-based diagnostic tests. These tests are based on biomarkers for high-value market opportunities in the healthcare industry. The company today announced that it has entered into a research collaboration agreement with Boston Scientific Corporation, a leading medical device manufacturer.
The focus of the agreement is to study the role of BG Medicine’s lead product – the Galectin-3 assay for chronic heart failure – as an aid in patient screening for cardiac-resynchronization therapy (CRT) using patient data from the MADIT-CRT study. The MADIT-CRT study is the world’s largest randomized CRT-D study of New York Heart Association patients, with more than 1800 patients enrolled at 110 centers worldwide.
The collaboration is designed to focus on better understanding the important MADIT-CRT patient population and whether Galectin-3 can help identify patients who would derive the most benefit from CRT. Elevated galectin-3 levels are associated with an inherently progressive form of heart failure that is associated with an increased risk of hospitalization or death.
The US Food and Drug Administration recently cleared BG Medicine Galectin-3 assay as an aid in assessing the prognosis of patients with chronic heart failure. The collaboration also involves using BG Medicine’s biomarker discovery capabilities to identify other biomarkers that correlate to CRT treatment response.
For further information on BG Medicine, please visit the company’s website at www.bg-medicine.com
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The focus of the agreement is to study the role of BG Medicine’s lead product – the Galectin-3 assay for chronic heart failure – as an aid in patient screening for cardiac-resynchronization therapy (CRT) using patient data from the MADIT-CRT study. The MADIT-CRT study is the world’s largest randomized CRT-D study of New York Heart Association patients, with more than 1800 patients enrolled at 110 centers worldwide.
The collaboration is designed to focus on better understanding the important MADIT-CRT patient population and whether Galectin-3 can help identify patients who would derive the most benefit from CRT. Elevated galectin-3 levels are associated with an inherently progressive form of heart failure that is associated with an increased risk of hospitalization or death.
The US Food and Drug Administration recently cleared BG Medicine Galectin-3 assay as an aid in assessing the prognosis of patients with chronic heart failure. The collaboration also involves using BG Medicine’s biomarker discovery capabilities to identify other biomarkers that correlate to CRT treatment response.
For further information on BG Medicine, please visit the company’s website at www.bg-medicine.com
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Beacon Equity Research Featured Company: Imperial Resources, Inc. (IPRC)
Imperial Resources, Inc. has a highly focused strategy to build a substantial portfolio of oil and gas assets through its wholly owned subsidiary, Imperial Oil & Gas Inc. The company’s access to niche, low risk oil and gas opportunities give it a unique advantage over its market competitors.
With extensive industry relationships and a strong management team, the company is committed to identifying low risk opportunities which combine rapid payout and long term revenue streams. This risk-averse strategy aims to exploit high-growth projects that will deliver cash flows typical of higher risk projects, without exposure to high risk failure rates.
Imperial intends to grow into a substantial business by participating in low risk development projects within true resource plays. To achieve these goals, the company will identify opportunities which lack the potential of resource plays but may provide solid base cash flow at a minimum risk. This strategy will potentially strengthen the foundations of the business and position Imperial as a growing market force.
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With extensive industry relationships and a strong management team, the company is committed to identifying low risk opportunities which combine rapid payout and long term revenue streams. This risk-averse strategy aims to exploit high-growth projects that will deliver cash flows typical of higher risk projects, without exposure to high risk failure rates.
Imperial intends to grow into a substantial business by participating in low risk development projects within true resource plays. To achieve these goals, the company will identify opportunities which lack the potential of resource plays but may provide solid base cash flow at a minimum risk. This strategy will potentially strengthen the foundations of the business and position Imperial as a growing market force.
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Beacon Equity Research Featured Company: Advanced Cell Technology, Inc. (ACTC)
Headquartered in Santa Monica, CA, Advanced Cell Technology, Inc. is a biotechnology company that develops cellular therapies for the treatment of both rare and common diseases. Using stem cell-based technologies and other proprietary methods in the field of regenerative medicine, ACTC aims to bring patient-specific therapies from the lab to the bedside so that they can help the millions of people affected by disease every day.
The company has three cellular product platforms based on ground breaking stem cell technology: Retinal Pigment Ephithelial (RPE) therapy, Myoblast stem cell therapy and the Hemangioblast (HG) platform. The company is in the process of commercializing its RPE for degenerative retinal disease and has secured two FDA clearances for Phase I/II clinical trials. ACT’s Myoblast stem cell therapy is already Phase-II approved for the treatment of chronic heart failure, advanced cardiac disease, myocardial infarction, and ischemia. Finally, ACT’S Hemangioblast (HG) platform is being developed for the treatment of blood and cardiovascular diseases.
Overseeing ACT’s development is an experienced management team and a world-class scientific team helmed by Interim Chairman and CEO Gary Rabin and Chief Scientific Officer Robert Lanza, M.D., respectively. For more information on the company please visit ww.advancedcell.com.
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The company has three cellular product platforms based on ground breaking stem cell technology: Retinal Pigment Ephithelial (RPE) therapy, Myoblast stem cell therapy and the Hemangioblast (HG) platform. The company is in the process of commercializing its RPE for degenerative retinal disease and has secured two FDA clearances for Phase I/II clinical trials. ACT’s Myoblast stem cell therapy is already Phase-II approved for the treatment of chronic heart failure, advanced cardiac disease, myocardial infarction, and ischemia. Finally, ACT’S Hemangioblast (HG) platform is being developed for the treatment of blood and cardiovascular diseases.
Overseeing ACT’s development is an experienced management team and a world-class scientific team helmed by Interim Chairman and CEO Gary Rabin and Chief Scientific Officer Robert Lanza, M.D., respectively. For more information on the company please visit ww.advancedcell.com.
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Force Fuels, Inc. (FOFU) Returns Leases and Slashes Debt
Change is in the wind for Costa Mesa, California-based Force Fuels, Inc. Over the last couple months, the Company has actively pursued partners for Joint Venture agreements and had a changing of the guard at the head of the Company. Per a recent 8-K filed with the SEC, “On March 22, 2011, the Board of Directors accepted Mr. Oscar Luppi’s voluntary resignation from his positions of Chairman, President, Chief Executive Officer, and Treasurer of the Registrant. There were no disagreements or misunderstandings relating to the Registrant’s operations, policies or practices between the Board and Mr. Luppi leading to his resignation.” Mr. Luppi was replaced by Mr. Thomas C. Hemingway in all positions.
This morning, Force Fuel announced a significant debt reduction through an agreement with PEMCO, LLC to return 50% ownership to Pemco in 4 of the 13 leases that were purchased in April 2010 from Pemco. The four leases involved in this transaction are Mann, Mann AB, Bayless and Doebrook. Additionally, Force Fuels will return operatorship to Pemco and commence a Joint Venture on the remaining nine leases with Pioneer Oil Development; a relationship that appears to be blossoming.
Force Fuels announced a new agreement with Pioneer Oil Development, LLC early in March aimed at increasing oil production on 1,200 acres of Pioneer Oil’s Oklahoma properties. The property currently has approximately 100 existing oil wells, with 20 in full production. Force Fuels has agreed to jointly drill and operate additional wells, with an aim of increasing production by as many as 10 new wells during 2011.
With the new agreement, Force Fuels reduces their total debt by $1,352,265. According to new CEO Thomas Hemingway, “Our main goal is to drill and rehab the wells that are in Kansas and Oklahoma. Having PEMCO and Pioneer Oil as our service partners will allow Force Fuels to grow throughout Chautauqua and Montgomery Counties, moving south to Oklahoma. This Joint Venture partnership will help expand Force Fuel’s presence into Oklahoma, providing us a larger space (foot print) in the mid-continent market sector. By reducing our debt by over $1.35 million we will be able to invest more money in new and existing wells rather than servicing debt.”
Investors appear to be reacting positively to the news at this point as the share price has climbed 12.5 percent in the first 30 minutes of the trading day, albeit on only 39,200 shares in volume. More information on Force Fuels and the recent transactions can be found on the Company’s website at www.forcefuels.com.
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This morning, Force Fuel announced a significant debt reduction through an agreement with PEMCO, LLC to return 50% ownership to Pemco in 4 of the 13 leases that were purchased in April 2010 from Pemco. The four leases involved in this transaction are Mann, Mann AB, Bayless and Doebrook. Additionally, Force Fuels will return operatorship to Pemco and commence a Joint Venture on the remaining nine leases with Pioneer Oil Development; a relationship that appears to be blossoming.
Force Fuels announced a new agreement with Pioneer Oil Development, LLC early in March aimed at increasing oil production on 1,200 acres of Pioneer Oil’s Oklahoma properties. The property currently has approximately 100 existing oil wells, with 20 in full production. Force Fuels has agreed to jointly drill and operate additional wells, with an aim of increasing production by as many as 10 new wells during 2011.
With the new agreement, Force Fuels reduces their total debt by $1,352,265. According to new CEO Thomas Hemingway, “Our main goal is to drill and rehab the wells that are in Kansas and Oklahoma. Having PEMCO and Pioneer Oil as our service partners will allow Force Fuels to grow throughout Chautauqua and Montgomery Counties, moving south to Oklahoma. This Joint Venture partnership will help expand Force Fuel’s presence into Oklahoma, providing us a larger space (foot print) in the mid-continent market sector. By reducing our debt by over $1.35 million we will be able to invest more money in new and existing wells rather than servicing debt.”
Investors appear to be reacting positively to the news at this point as the share price has climbed 12.5 percent in the first 30 minutes of the trading day, albeit on only 39,200 shares in volume. More information on Force Fuels and the recent transactions can be found on the Company’s website at www.forcefuels.com.
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True 2 Beauty (TRTB) Adds New Product
In spite of the fact that True 2 Beauty, makers of various all-natural sexual enhancement products, are in the middle of a major production scale up, they’ve somehow managed to find time to come out with a new product. It’s a water based lubricant aptly named TNT Touch ‘N Tingle, and it’s available in his & her varieties. The line is being marketed as much to women as to men, and is said to be safe to use with latex condoms. The introduction is seen as just in time for integration with the company’s recently announced marketing campaigns.
If the TNT product is as big a seller as their LibiGrow and LibiGirl lines, it will mean another production scale up. They are still growing their new manufacturing facility in City of Commerce, California, designed to greatly increase company output. Their first order from Kretek totaled $1.3 million, but it’s only a part of what can be expected as Kretek gradually rolls out True 2 Beauty products to over 40,000 retail locations. As True 2 Beauty’s marketing continues to expand, moving into celebrity endorsements, more television and print ads, online promotions, and industry trade shows, their increased ability to produce will be critical. The company is also pushing into social networking and mobile marketing.
Over and above marketing and distribution efforts, the popularity of the company’s products is essentially based on ease of access and the fact that they are all made from 100% natural ingredients. There is no need to go to a doctor or take a prescription to a pharmacy. True 2 Beauty products are already found in health and convenience stores all over the country, with the promise of many more stores to come. Their newest product is just one more branch on the tree.
For more information, visit www.True2BeautyInc.com and www.LibiGrow.com
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If the TNT product is as big a seller as their LibiGrow and LibiGirl lines, it will mean another production scale up. They are still growing their new manufacturing facility in City of Commerce, California, designed to greatly increase company output. Their first order from Kretek totaled $1.3 million, but it’s only a part of what can be expected as Kretek gradually rolls out True 2 Beauty products to over 40,000 retail locations. As True 2 Beauty’s marketing continues to expand, moving into celebrity endorsements, more television and print ads, online promotions, and industry trade shows, their increased ability to produce will be critical. The company is also pushing into social networking and mobile marketing.
Over and above marketing and distribution efforts, the popularity of the company’s products is essentially based on ease of access and the fact that they are all made from 100% natural ingredients. There is no need to go to a doctor or take a prescription to a pharmacy. True 2 Beauty products are already found in health and convenience stores all over the country, with the promise of many more stores to come. Their newest product is just one more branch on the tree.
For more information, visit www.True2BeautyInc.com and www.LibiGrow.com
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OurPet’s Co. (OPCO) Market Position leveraged by Innovation and Brand Awareness
OurPet’s Company was founded in 1995, positioned to capitalize on a rapid growth spurt in the pet market industry, which grew from $17 billion in 1994 to $40.8 billion in 2008, according to the American Pet Product Manufacturers Association (APPMA). OurPet’s strong brand identity, innovation and customer loyalty has accelerated growth for the company itself, with a growth rate overshadowing the industry as a whole.
The company designs, produces and markets a wide range of accessory and consumable pet products both domestically and abroad. OurPet’s portfolio of Websites includes www.smartscoop.com, www.ecopurenaturals.com, www.playnsneak.com, www.flappydogtoys.com, www.clipnosis.com and www.hideperchandgo.com
For the fourth quarter of 2010, the company reported record financial results, fueled by organic growth and the integration of Cosmic Pet Products, which sold inventory, equipment and product rights to OurPet’s, effective July 29, 2010.
Net revenue increased 25 percent to a record $4.69 million, compared to $3.74 million reported for the fourth-quarter of 2009. Gross profit increased 11 percent to $1.24 million from 30.0 percent for the fourth quarter of 2009. Income from operations doubled to $455,329 for the quarter, up from $225,730 in the comparable quarter of 2009. Net income increased 24 percent to $396,533 for the fourth quarter, up from $319,136 for the same quarter of 2009.
For more information visit www.ourpets.com
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The company designs, produces and markets a wide range of accessory and consumable pet products both domestically and abroad. OurPet’s portfolio of Websites includes www.smartscoop.com, www.ecopurenaturals.com, www.playnsneak.com, www.flappydogtoys.com, www.clipnosis.com and www.hideperchandgo.com
For the fourth quarter of 2010, the company reported record financial results, fueled by organic growth and the integration of Cosmic Pet Products, which sold inventory, equipment and product rights to OurPet’s, effective July 29, 2010.
Net revenue increased 25 percent to a record $4.69 million, compared to $3.74 million reported for the fourth-quarter of 2009. Gross profit increased 11 percent to $1.24 million from 30.0 percent for the fourth quarter of 2009. Income from operations doubled to $455,329 for the quarter, up from $225,730 in the comparable quarter of 2009. Net income increased 24 percent to $396,533 for the fourth quarter, up from $319,136 for the same quarter of 2009.
For more information visit www.ourpets.com
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Green Technology Solutions Inc. (GTSO) Video Chart for Wednesday, March 30, 2011
GTSO is trading in a channel with $2.60 as support and $3 as resistance. The indicators appear to be turning bullish, so this chart is going to stay on radar until it tries to break through the upper side of the channel and move above the 50 day moving average.
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China Wind Systems Inc. (CWS) Posts Q4, FY2010 Results reflecting Expanded Market Presence
China Wind Systems Inc., a leading supplier of forged rolled rings and other forged components used for wind power and industrial equipment primarily for the textile industry in China, today announced its financial results for the fourth quarter and full year ended December 31, 2010.
Fourth-quarter revenue for 2010 increased 41.5 percent to $22.5 million, compared to $15.9 million in the same period of 2009.
Gross profit for the fourth quarter of 2010 increased 41.0 percent to $6.1 million, compared to $4.3 million for the same period in 2009. Gross margin remained similar at 27.2 percent during the fourth quarter of 2010 compared to 27.3 percent for the same period a year ago.
Operating expenses increased 194.7 percent to $1.7 million, compared to $0.6 million in the comparable period last year, as a result of higher selling, general, and administrative expenses related to increased payroll expenses, stock-based compensation, traveling expenses and shipping expenses. The company also significantly increased its bad debt allowance based on its evaluation of its account receivable balances.
Operating income increased 17.9 percent to $4.4 million, compared to $3.8 million for the same period of 2009. Operating margin was 19.7 percent compared to 23.7 percent in the fourth quarter last year.
Net income increased 16.6 percent to $3.1 million, or $0.17 basic earnings per share, compared to $2.7 million, or $0.17 basic earnings per share in the comparable period last year. Diluted earnings per share were $0.13, compared to $0.11 in the same period of 2009.
“In the fourth quarter of 2010, we continued to expand our market presence in the wind sector. We reported strong year-over-year and quarter-over-quarter revenue growth from our business selling forged products to the wind industry,” Jianhua Wu, chairman and CEO of China Wind Systems stated in the press release. “During the quarter, we delivered precision forged products from our newly built electro-slag remelting facility while maintaining output from our traditional forged rolled ring facility. … In addition, our next generation, energy efficient and environmentally friendly dyeing machines continue to gain increased traction and we are receiving strong customer interest.”
For the year ended December 31, 2010, revenues increased 48.8 percent to $79.5 million from $53.5 million in 2009. Gross profit increased 61.9 percent to $20.9 million, compared to $12.9 million last year. Operating income increased 44.8 percent to $15.5 million from $10.7 million in 2009. Net income was $11.1 million, or $0.62 basic earnings per share, a 45.5 percent increase from $7.6 million, or $0.37 basic earnings per share, reported last year. earnings per share in 2010 and 2009 were $0.44 and $0.24, respectively.
As of December 31, 2010, China Wind Systems held cash and cash equivalents of $0.9 million, accounts receivable of $8.2 million, and total current assets of $15.7 million. The company reported $1.8 million in short-term loans payable, no long-term debt and stockholders’ equity stood at $62.6 million.
For more information visit http://www.chinawindsystems.com
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Fourth-quarter revenue for 2010 increased 41.5 percent to $22.5 million, compared to $15.9 million in the same period of 2009.
Gross profit for the fourth quarter of 2010 increased 41.0 percent to $6.1 million, compared to $4.3 million for the same period in 2009. Gross margin remained similar at 27.2 percent during the fourth quarter of 2010 compared to 27.3 percent for the same period a year ago.
Operating expenses increased 194.7 percent to $1.7 million, compared to $0.6 million in the comparable period last year, as a result of higher selling, general, and administrative expenses related to increased payroll expenses, stock-based compensation, traveling expenses and shipping expenses. The company also significantly increased its bad debt allowance based on its evaluation of its account receivable balances.
Operating income increased 17.9 percent to $4.4 million, compared to $3.8 million for the same period of 2009. Operating margin was 19.7 percent compared to 23.7 percent in the fourth quarter last year.
Net income increased 16.6 percent to $3.1 million, or $0.17 basic earnings per share, compared to $2.7 million, or $0.17 basic earnings per share in the comparable period last year. Diluted earnings per share were $0.13, compared to $0.11 in the same period of 2009.
“In the fourth quarter of 2010, we continued to expand our market presence in the wind sector. We reported strong year-over-year and quarter-over-quarter revenue growth from our business selling forged products to the wind industry,” Jianhua Wu, chairman and CEO of China Wind Systems stated in the press release. “During the quarter, we delivered precision forged products from our newly built electro-slag remelting facility while maintaining output from our traditional forged rolled ring facility. … In addition, our next generation, energy efficient and environmentally friendly dyeing machines continue to gain increased traction and we are receiving strong customer interest.”
For the year ended December 31, 2010, revenues increased 48.8 percent to $79.5 million from $53.5 million in 2009. Gross profit increased 61.9 percent to $20.9 million, compared to $12.9 million last year. Operating income increased 44.8 percent to $15.5 million from $10.7 million in 2009. Net income was $11.1 million, or $0.62 basic earnings per share, a 45.5 percent increase from $7.6 million, or $0.37 basic earnings per share, reported last year. earnings per share in 2010 and 2009 were $0.44 and $0.24, respectively.
As of December 31, 2010, China Wind Systems held cash and cash equivalents of $0.9 million, accounts receivable of $8.2 million, and total current assets of $15.7 million. The company reported $1.8 million in short-term loans payable, no long-term debt and stockholders’ equity stood at $62.6 million.
For more information visit http://www.chinawindsystems.com
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Ever-Glory International (EVK) Posts Solid Sales Increase for FY2010 driven by Branded Retail Division
Ever-Glory International Group Inc., a leading apparel supply chain manager and retailer based in China, today reported its financial results for its fiscal year ended December 31, 2010, reporting a nearly 50% increase in net sales. The company attributes its strong retail figures to its April 2010 acquisition of the 40 percent interest in LA GO GO from its joint-venture partner, bringing the company’s stake in the retail business to 100 percent.
During the fiscal year 2010, net sales increased 49.3 percent to $134.1 million as compared to $89.9 million in 2009. The increase in sales was primarily attributable to increased sales in Ever-Glory’s retail business as well as its wholesale business in China.
In 2010, retail sales from LA GO GO, the company’s wholly owned branded retail division, increased 122.1 percent to $29.3 million, compared to $13.2 million in 2009. Sales generated from the company’s wholesale business increased 36.7 percent to $104.8 million, compared to $76.7 million reported in 2009.
Total gross profit in 2010 increased 42.9 percent to $26.2 million from $18.3 million a year ago. Gross margin decreased to 19.5 percent in 2010, compared to 20.4 percent in 2009.
Ever-Glory has fully integrated the LA GO GO business and management into the company, and through continued implementation of the company’s brand strategy, Edward Yihua Kang, chairman of the board and CEO of Ever-Glory, said he believes that through 2011 and beyond the company will continue to drive a strong performance.
“In 2011, we plan to continue to develop LA GO GO through perfecting design styles, improving store management efficiency and opening more stores in desired locations,” continued Kang stated in the press release. “We are confident that, through these measures, we can enhance same-store sales, expand LA GO GO’s market penetration and increase its brand influence in China.”
As of December 31, 2010, the company reported approximately $3.7 million of cash and cash equivalents, compared to approximately $3.6 million as of December 31, 2009. Ever-Glory had working capital of approximately $24.5 million as of December 31, 2010, and outstanding bank loans of approximately $18.1 million as of December 31, 2010.
Ever-Glory also offered its forecast for 2001, with anticipated first-quarter total net sales of $45 million-$55 million and net income of $1.8 to $2.2 million. For full year 2011, Every-Glory anticipates total net sales between $180 million and $215 million and net income between $7.3 million and $9.0 million. The full year revenue forecast is comprised of $120 million to $150 million in expected wholesale revenue and $60 million to $65 million in expected revenue from retail operations.
For more information visit: http://www.everglorygroup.com
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During the fiscal year 2010, net sales increased 49.3 percent to $134.1 million as compared to $89.9 million in 2009. The increase in sales was primarily attributable to increased sales in Ever-Glory’s retail business as well as its wholesale business in China.
In 2010, retail sales from LA GO GO, the company’s wholly owned branded retail division, increased 122.1 percent to $29.3 million, compared to $13.2 million in 2009. Sales generated from the company’s wholesale business increased 36.7 percent to $104.8 million, compared to $76.7 million reported in 2009.
Total gross profit in 2010 increased 42.9 percent to $26.2 million from $18.3 million a year ago. Gross margin decreased to 19.5 percent in 2010, compared to 20.4 percent in 2009.
Ever-Glory has fully integrated the LA GO GO business and management into the company, and through continued implementation of the company’s brand strategy, Edward Yihua Kang, chairman of the board and CEO of Ever-Glory, said he believes that through 2011 and beyond the company will continue to drive a strong performance.
“In 2011, we plan to continue to develop LA GO GO through perfecting design styles, improving store management efficiency and opening more stores in desired locations,” continued Kang stated in the press release. “We are confident that, through these measures, we can enhance same-store sales, expand LA GO GO’s market penetration and increase its brand influence in China.”
As of December 31, 2010, the company reported approximately $3.7 million of cash and cash equivalents, compared to approximately $3.6 million as of December 31, 2009. Ever-Glory had working capital of approximately $24.5 million as of December 31, 2010, and outstanding bank loans of approximately $18.1 million as of December 31, 2010.
Ever-Glory also offered its forecast for 2001, with anticipated first-quarter total net sales of $45 million-$55 million and net income of $1.8 to $2.2 million. For full year 2011, Every-Glory anticipates total net sales between $180 million and $215 million and net income between $7.3 million and $9.0 million. The full year revenue forecast is comprised of $120 million to $150 million in expected wholesale revenue and $60 million to $65 million in expected revenue from retail operations.
For more information visit: http://www.everglorygroup.com
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Tuesday, March 29, 2011
Lihua International Inc. (LIWA) Receives Awards for Innovations and Achievements
Today, high quality copper alternative producer, Lihua International, Inc., announced that three local and municipal Chinese governments awarded the company for its innovation, internal controls and operational achievements.
Lihua was awarded “Advanced Science and Technology innovation Enterprises” by The Communist Party of China (CPC), Houxiang Committee and the Local Government of Houxiang, “Best Internal Audit Practice Award” by the Auditing Bureau of Danyang, and “Top Ten Outstanding Leading Industrial Enterprise in Danyang’s Ideological Development” by the CPC, Danyang Municipal Committee and Local Government of Danyang. The Danyang muncipal government also awarded Lihua a grant of RMB 500,000 ($76,000).
Lihua received these awards at a February 2011 ceremony hosted by the Danyang government. The event celebrated the region’s economic improvements and honored local enterprises for contributions in their respective fields. Companies were also lauded for their efforts to drive the region’s cultural and economic growth. Lihua was named in these three categories for its leadership in the region’s copper industry, its technological and industrial innovation, contributions to the local economy and efforts to develop and promote best practices in internal auditing.
Jianhua Zhu, Chairman and CEO of Lihua, remarked, “We are honored to receive these awards from Danyang City and to be recognized as a key contributor to the city’s economic growth, a leading innovator in China’s copper industry and a top corporate citizen in the region, These awards lend credibility to the significant efforts throughout our organization to drive growth, technological innovation and continuous improvements in our internal controls and processes. Looking ahead, we plan to continue developing our business to meet our internal growth objectives via capacity expansion and technology advancements while driving best-in-class internal processes to advance our leadership position in China’s emerging copper industry.”
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Lihua was awarded “Advanced Science and Technology innovation Enterprises” by The Communist Party of China (CPC), Houxiang Committee and the Local Government of Houxiang, “Best Internal Audit Practice Award” by the Auditing Bureau of Danyang, and “Top Ten Outstanding Leading Industrial Enterprise in Danyang’s Ideological Development” by the CPC, Danyang Municipal Committee and Local Government of Danyang. The Danyang muncipal government also awarded Lihua a grant of RMB 500,000 ($76,000).
Lihua received these awards at a February 2011 ceremony hosted by the Danyang government. The event celebrated the region’s economic improvements and honored local enterprises for contributions in their respective fields. Companies were also lauded for their efforts to drive the region’s cultural and economic growth. Lihua was named in these three categories for its leadership in the region’s copper industry, its technological and industrial innovation, contributions to the local economy and efforts to develop and promote best practices in internal auditing.
Jianhua Zhu, Chairman and CEO of Lihua, remarked, “We are honored to receive these awards from Danyang City and to be recognized as a key contributor to the city’s economic growth, a leading innovator in China’s copper industry and a top corporate citizen in the region, These awards lend credibility to the significant efforts throughout our organization to drive growth, technological innovation and continuous improvements in our internal controls and processes. Looking ahead, we plan to continue developing our business to meet our internal growth objectives via capacity expansion and technology advancements while driving best-in-class internal processes to advance our leadership position in China’s emerging copper industry.”
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Miranda Gold Corp. (MAD.V) Signs Exploration Agreement with Agnico-Eagle Ltd. for the Ester Dome Project
Miranda Gold Corp., a company that engages in the acquisition, exploration, and development of mineral properties in the western US and Colombia, has announced that it has signed an exploration agreement, which includes the option for a joint venture, with Agnico-Eagle, a wholly owned subsidiary of Agnico-Eagle Mines Limited (AEM). Agnico may earn up to 70% interest in the Ester Dome project, which is located in the Fairbanks mining district of Alaska.
Under the terms present in the Agreement, which will replace a Letter of Intent announced on October 14,2010, Agnico can earn up to 51% interest in Ester Dome by spending US$4,000,000 in any qualifying expenditures over a period of five years. Agnico can then elect to earn an additional 19% of interest, for a total of 70% in interest, by completing a study or by spending US$10,000,000 at a rate of no less than US$1,000,000 per year. When signing the agreement, Agnico agreed to pay Miranda Gold US$30,000 and is responsible for funding of the first year exploration budget of US$500,000.
In 2011, exploration will have a main focus of enhancing and testing drill targets with a 7,000 ft by 1,200 ft gold in soils anomaly, which was developed by Miranda Gold back in 2010. Miranda and Agnico both believe that the source of this gold anomaly could be a buried gold-bearing intrusion. Agnico has made plans to collect an addition of 350 soil samples using a mechanized auger as a first phase, in order to verify and expand the soil anomaly. Agnico plans to drill 4,500 ft of core in 6 to 8 holes. This drill program is dependent on drill rig availability. Agnico may also conduct Induced Polarization (IP) geophysical service to help better define the drill targets.
The most recent drilling activity on Ester Dome was performed by Placer Dome Exploration in 1998, where 19.7 ft of 2.7 oz Au/t from 360 to 381 feet was intersected.
The Ester Dome project consists of 181 Alaska state mining claims expanding over approximately 13.8 sq. miles and is located 5 miles from Fairbanks, Alaska. The Fairbanks District has produced more than 9.5 million ounces of alluvial gold. More than 3 million ounces of alluvial gold were mined along the flanks of Ester Dome, the property covering the majority of the upland source area for said 3 million ounces.
Miranda Gold Corp. is engaged in the acquisition, exploration, and development of mineral properties in Canada and the western United States. The company mainly explores for gold properties. The company holds its interests in many properties in Nevada, Alaska, and Colombia. Miranda Gold holds its ongoing partnerships with Agnico-Eagle Limited, Montezuma Mines Inc., Navaho Gold Ltd., NuLegacy Corporation, Piedmont Mining Company Inc, Ramelius Resources Ltd., and Red Eagle Mining Corporation. The company, which was founded in 1993, is located in Vancouver, Canada.
For more information on Miranda Gold Corp., visit their company website at: http://www.mirandagold.com
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Under the terms present in the Agreement, which will replace a Letter of Intent announced on October 14,2010, Agnico can earn up to 51% interest in Ester Dome by spending US$4,000,000 in any qualifying expenditures over a period of five years. Agnico can then elect to earn an additional 19% of interest, for a total of 70% in interest, by completing a study or by spending US$10,000,000 at a rate of no less than US$1,000,000 per year. When signing the agreement, Agnico agreed to pay Miranda Gold US$30,000 and is responsible for funding of the first year exploration budget of US$500,000.
In 2011, exploration will have a main focus of enhancing and testing drill targets with a 7,000 ft by 1,200 ft gold in soils anomaly, which was developed by Miranda Gold back in 2010. Miranda and Agnico both believe that the source of this gold anomaly could be a buried gold-bearing intrusion. Agnico has made plans to collect an addition of 350 soil samples using a mechanized auger as a first phase, in order to verify and expand the soil anomaly. Agnico plans to drill 4,500 ft of core in 6 to 8 holes. This drill program is dependent on drill rig availability. Agnico may also conduct Induced Polarization (IP) geophysical service to help better define the drill targets.
The most recent drilling activity on Ester Dome was performed by Placer Dome Exploration in 1998, where 19.7 ft of 2.7 oz Au/t from 360 to 381 feet was intersected.
The Ester Dome project consists of 181 Alaska state mining claims expanding over approximately 13.8 sq. miles and is located 5 miles from Fairbanks, Alaska. The Fairbanks District has produced more than 9.5 million ounces of alluvial gold. More than 3 million ounces of alluvial gold were mined along the flanks of Ester Dome, the property covering the majority of the upland source area for said 3 million ounces.
Miranda Gold Corp. is engaged in the acquisition, exploration, and development of mineral properties in Canada and the western United States. The company mainly explores for gold properties. The company holds its interests in many properties in Nevada, Alaska, and Colombia. Miranda Gold holds its ongoing partnerships with Agnico-Eagle Limited, Montezuma Mines Inc., Navaho Gold Ltd., NuLegacy Corporation, Piedmont Mining Company Inc, Ramelius Resources Ltd., and Red Eagle Mining Corporation. The company, which was founded in 1993, is located in Vancouver, Canada.
For more information on Miranda Gold Corp., visit their company website at: http://www.mirandagold.com
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ALR Technologies Inc. (ALRT) Video Chart for Tuesday, March 29, 2011
ALRT has made a nice climb over the last nine months and is now in a strong technical uptrend. The most recent climb pinned the stock against resistance at 15 cents. Technical traders are on alert to see if that area will fall on the way to a new high.
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Jingwei International (JNGW) Inks Strategic Business Partnership with Zhejiang China Unicom
Jingwei International Limited, a leading provider of data mining, interactive marketing and software services in China, today announced it has signed a strategic business partnering agreement with Zhejiang China Unicom to implement Jingwei’s data mining, interactive marketing and software service expertise to design, develop and operate Zhejiang China Unicom’s mobile and mobile value-added services (MVAS) Society Channel and marketing support system.
“We are delighted to be the partner of choice on this strategic initiative for Zhejiang China Unicom to capitalize on the robust growth of mobile and MVAS applications to efficiently and profitably grow their business,” George Du, president and chairman of Jingwei stated in the press release.
The three-year agreement, renewable by mutual consent, calls for Jingwei to design, build and operate the mobile and MVAS Society Channel and marketing support platform for Zhejiang China Unicom’s more than 80,000 society channel depots in the Zhejiang province.
“Today’s announcement signals another significant milestone in the development of Jingwei as this agreement is expected to translate to attractive recurring revenue to strengthen our business.” Rick Luk, CEO of Jingwei stated. “More importantly, this not only serves as another testimonial for our technology and market leadership, following a similar system we deployed for Guangdong China Unicom last year, it further reinforces our established, long term relationships with a premier telecommunications carrier in China.”
The arrangement is designed on a “revenue sharing” basis, in which upon the deployment of this platform and participation in its daily operation, Jingwei will enjoy a share of the revenues derived from sales and service contracts generated from the channel depots supported by the system.
For more information visit: www.jingweicom.com
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“We are delighted to be the partner of choice on this strategic initiative for Zhejiang China Unicom to capitalize on the robust growth of mobile and MVAS applications to efficiently and profitably grow their business,” George Du, president and chairman of Jingwei stated in the press release.
The three-year agreement, renewable by mutual consent, calls for Jingwei to design, build and operate the mobile and MVAS Society Channel and marketing support platform for Zhejiang China Unicom’s more than 80,000 society channel depots in the Zhejiang province.
“Today’s announcement signals another significant milestone in the development of Jingwei as this agreement is expected to translate to attractive recurring revenue to strengthen our business.” Rick Luk, CEO of Jingwei stated. “More importantly, this not only serves as another testimonial for our technology and market leadership, following a similar system we deployed for Guangdong China Unicom last year, it further reinforces our established, long term relationships with a premier telecommunications carrier in China.”
The arrangement is designed on a “revenue sharing” basis, in which upon the deployment of this platform and participation in its daily operation, Jingwei will enjoy a share of the revenues derived from sales and service contracts generated from the channel depots supported by the system.
For more information visit: www.jingweicom.com
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RF Micro Devices (RFMD) Power Platform Receives Industry’s Most Innovative Device of 2011
RF Micro Devices Inc., leading global designer and manufacturer of high-performance semiconductor component technologies, was recently recognized in Compound Semiconductor magazine, which featured the company’s PowerSmart(TM) power platform (RFRD6460) as the compound semiconductor industry’s most innovative device of 2011.
“Compound Semiconductor is proud of the CS Industry Awards and the overwhelming response from the compound semiconductor industry,” Richard Stevenson, editor for Compound Semiconductor stated in the press release. “We feel it is important to highlight the technological achievements within the industry, such as RFMD’s PowerSmart. These categories and products represent key areas of innovation in the chip manufacturing process.”
The PowerSmart power platforms feature an RF Configurable Power Core(TM) that delivers multiband, multi-mode coverage of all cellular communications modulation schemes, up to 4G LTE 64QAM. RFMD said its PowerSmart platform enables smartphone and tablet designers to eliminate months of development time, while covering broader segments of the market with a single design.
RFMD said the recognition and award represent PowerSmart’s position in an evolving market.
“We are extremely pleased that Compound Semiconductor magazine has recognized RFMD’s PowerSmart as the compound semiconductor industry’s most innovative device of 2011. RFMD is sharply focused on expanding our leadership in compound semiconductors into multiple markets, and we believe PowerSmart is at the forefront of a technology shift to converged front ends in multi-mode, multiband smartphone,” Bob Bruggeworth, president and CEO of RFMD stated. “In addition to our GaAs-based PowerSmart technology, RFMD’s efforts in GaAs-based concentrated photovoltaics and GaN-based high power amplifiers are serving to extend the role of compound semiconductors in the world’s fastest growing markets.”
For more information visit www.rfmd.com
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“Compound Semiconductor is proud of the CS Industry Awards and the overwhelming response from the compound semiconductor industry,” Richard Stevenson, editor for Compound Semiconductor stated in the press release. “We feel it is important to highlight the technological achievements within the industry, such as RFMD’s PowerSmart. These categories and products represent key areas of innovation in the chip manufacturing process.”
The PowerSmart power platforms feature an RF Configurable Power Core(TM) that delivers multiband, multi-mode coverage of all cellular communications modulation schemes, up to 4G LTE 64QAM. RFMD said its PowerSmart platform enables smartphone and tablet designers to eliminate months of development time, while covering broader segments of the market with a single design.
RFMD said the recognition and award represent PowerSmart’s position in an evolving market.
“We are extremely pleased that Compound Semiconductor magazine has recognized RFMD’s PowerSmart as the compound semiconductor industry’s most innovative device of 2011. RFMD is sharply focused on expanding our leadership in compound semiconductors into multiple markets, and we believe PowerSmart is at the forefront of a technology shift to converged front ends in multi-mode, multiband smartphone,” Bob Bruggeworth, president and CEO of RFMD stated. “In addition to our GaAs-based PowerSmart technology, RFMD’s efforts in GaAs-based concentrated photovoltaics and GaN-based high power amplifiers are serving to extend the role of compound semiconductors in the world’s fastest growing markets.”
For more information visit www.rfmd.com
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Inter-Citic Minerals Inc. (CMTF) Begin Trading on the OTCQX
Inter-Citic Minerals Inc. is a gold exploration and development firm with a focus on China, the world’s largest gold producing country. In particular, the company is advancing its Dachang Gold Project, one of China’s largest undeveloped open-pit gold resources. It is doing so in conjunction with its biggest shareholder – China’s largest gold producer, Zijin Mining.
The company announced that its shares started trading today on the over-the-counter market’s highest tier, the OTCQX, under the symbol ICMTF. The OTCQX is the most prestigious of the three tiers of the over-the-counter market. It is recognized as a quality-controlled marketplace in the United States for investor-friendly companies.
Companies that join the OTCQX demonstrate their commitment to providing superior information to investors and maintaining the highest quality standards. In 2010, securities on the OTC platform traded over $144 billion in dollar volume, making it the third largest US trading venue after the New York Stock Exchange and NASDAQ.
Inter-Citic Minerals, which is already listed on the Toronto exchange, made this move so its growing number of US investors will have easier access to the stock as well as greater transparency. The company’s president and CEO, James Moore, said, “We fully expect this upgrade will help liquidity and share price for our investors both in the US and in Canada.”
For more information on Inter-Citic Minerals, please visit its website at www.inter-citic.com
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The company announced that its shares started trading today on the over-the-counter market’s highest tier, the OTCQX, under the symbol ICMTF. The OTCQX is the most prestigious of the three tiers of the over-the-counter market. It is recognized as a quality-controlled marketplace in the United States for investor-friendly companies.
Companies that join the OTCQX demonstrate their commitment to providing superior information to investors and maintaining the highest quality standards. In 2010, securities on the OTC platform traded over $144 billion in dollar volume, making it the third largest US trading venue after the New York Stock Exchange and NASDAQ.
Inter-Citic Minerals, which is already listed on the Toronto exchange, made this move so its growing number of US investors will have easier access to the stock as well as greater transparency. The company’s president and CEO, James Moore, said, “We fully expect this upgrade will help liquidity and share price for our investors both in the US and in Canada.”
For more information on Inter-Citic Minerals, please visit its website at www.inter-citic.com
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China GengSheng Minerals, Inc. (CHGS) Signs Huge Proppant Deal, Decommissions Existing Manufacturing Facility and Moves to Expand Production in ...
China GengSheng Minerals, Inc. (CHGS) Signs Huge Proppant Deal, Decommissions Existing Manufacturing Facility and Moves to Expand Production in Order to Meet Rising Global Demand
China GengSheng Minerals, www.gengsheng.com – one of China’s top producers of a wide array of advanced industrial materials and highly customized solutions, primarily serving the iron and steel industries with components for high-temperature vessels and the like, reported singing of a definitive agreement with a local Gongyi, Henan Province affiliate today for the production of some 30k metric tons of the Company’s fracture proppants through to the end of the year.
This deal boosts the total annual output of fracture proppants a solid 20%, offering prime incentive for the Company to move production to a new site and so the Company has subsequently terminated its lease on the existing facility in Gongyi.
This is also in accordance with the local government’s own initiatives to improve life for the people of Gongyi, as the leased facility is in an area impacted by the government’s development plans and is essentially unsuitable for the kind of large-scale production with which CHGS is now tasked. The Company has been able to circumvent any penalties/liabilities associated with the lease due to the nature of its termination.
Chairman and CEO of CHGS, Shunqing Zhang, cited skyrocketing global drilling activity as a prime mover of the Company’s fracture proppant trade and noted that both domestic and international customers have been eager for bigger numbers.
With $14.3M in orders for last year and $15.9M already in the first quarter for 2011, CHGS isn’t shy about taking the hint and is looking to further increase production this year in order to keep up pace with global markets.
Current evaluation of strategic opportunities for construction/acquisition of additional capacity is underway and confidence is high that this growth market has the potential for generating significantly higher revenue and margins for CHGS.
A 25-year trusted veteran producer of materials integral to the safe/efficient production of steel and iron, CHGS has seen the trends within the industry come and go, this attitude is a clear arrow to bundle in with others when analyzing the overall curve. The company stands to rake in some serious profits for shareholders as the primary drivers behind their business, like drilling and industrial metals production, see massive global increases.
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China GengSheng Minerals, www.gengsheng.com – one of China’s top producers of a wide array of advanced industrial materials and highly customized solutions, primarily serving the iron and steel industries with components for high-temperature vessels and the like, reported singing of a definitive agreement with a local Gongyi, Henan Province affiliate today for the production of some 30k metric tons of the Company’s fracture proppants through to the end of the year.
This deal boosts the total annual output of fracture proppants a solid 20%, offering prime incentive for the Company to move production to a new site and so the Company has subsequently terminated its lease on the existing facility in Gongyi.
This is also in accordance with the local government’s own initiatives to improve life for the people of Gongyi, as the leased facility is in an area impacted by the government’s development plans and is essentially unsuitable for the kind of large-scale production with which CHGS is now tasked. The Company has been able to circumvent any penalties/liabilities associated with the lease due to the nature of its termination.
Chairman and CEO of CHGS, Shunqing Zhang, cited skyrocketing global drilling activity as a prime mover of the Company’s fracture proppant trade and noted that both domestic and international customers have been eager for bigger numbers.
With $14.3M in orders for last year and $15.9M already in the first quarter for 2011, CHGS isn’t shy about taking the hint and is looking to further increase production this year in order to keep up pace with global markets.
Current evaluation of strategic opportunities for construction/acquisition of additional capacity is underway and confidence is high that this growth market has the potential for generating significantly higher revenue and margins for CHGS.
A 25-year trusted veteran producer of materials integral to the safe/efficient production of steel and iron, CHGS has seen the trends within the industry come and go, this attitude is a clear arrow to bundle in with others when analyzing the overall curve. The company stands to rake in some serious profits for shareholders as the primary drivers behind their business, like drilling and industrial metals production, see massive global increases.
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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Power Plantations – A World Energy Solution from ViaSpace, Inc. (VSPC)
It is, without question, one of the most promising approaches to renewable, clean, and dependable energy to ever come along. And yet, in spite of its originality, it involves largely off-the-shelf technologies. Welcome to the world of Giant King Grass (GKG), a fast-growing hybrid grass that is neither genetically modified nor invasive, a proven source of power plant and automotive energy that is both carbon neutral and economical. This energy crop belongs solely to California based ViaSpace, Inc.
What is a power plantation? Imagine this: A 3,700 acre Giant King Grass plantation, where GKG is planted once, and then harvested multiple times each year. It grows exceedingly fast, efficiently capturing the sun’s energy and absorbing carbon dioxide, shooting up to 13 feet high in just a few months. The land being used is marginal land, not imposing on food production in any way. The grass is easily harvested and processed for burning in a 30 MW power plant located nearby, releasing only the previously absorbed carbon, making the whole process carbon neutral.
The close proximity of the power plant means the only thing leaving the plantation is the generated electrical energy, minimizing any pollution from the transport of fuels. The energy is dependable, available day or night in any weather. No experimental technologies or elaborate new infrastructure are required, and, due to the rapid growth and energy richness of GKG, the system is economical today. In addition, part of the harvest can be efficiently processed into various liquid fuels for use in transportation and materials.
The power plantation is a unique combination of renewable energy source, viable only due to the remarkable properties of Giant King Grass, together with a nearby existing-technology power plant. Even if the power plant is not onsite, GKG offers all of the advantages sought from a renewable energy source, but with none of the economic and technical issues normally associated with solar, wind and other approaches.
The best feature of Giant King Grass may in fact be that there is no need to wait for clean renewable power plantations to dot the planet. GKG is already well on its way to cleaning up the power industry. ViaSpace has been approached by industry and government specialists from around the world seeking to reduce the carbon footprint of existing power plants through the use of shipped GKG pellets. The company is now actively engaged in pursuing contracts to supply GKG through partnerships and joint ventures.
For additional information, visit the company’s website at www.ViaSpace.com
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What is a power plantation? Imagine this: A 3,700 acre Giant King Grass plantation, where GKG is planted once, and then harvested multiple times each year. It grows exceedingly fast, efficiently capturing the sun’s energy and absorbing carbon dioxide, shooting up to 13 feet high in just a few months. The land being used is marginal land, not imposing on food production in any way. The grass is easily harvested and processed for burning in a 30 MW power plant located nearby, releasing only the previously absorbed carbon, making the whole process carbon neutral.
The close proximity of the power plant means the only thing leaving the plantation is the generated electrical energy, minimizing any pollution from the transport of fuels. The energy is dependable, available day or night in any weather. No experimental technologies or elaborate new infrastructure are required, and, due to the rapid growth and energy richness of GKG, the system is economical today. In addition, part of the harvest can be efficiently processed into various liquid fuels for use in transportation and materials.
The power plantation is a unique combination of renewable energy source, viable only due to the remarkable properties of Giant King Grass, together with a nearby existing-technology power plant. Even if the power plant is not onsite, GKG offers all of the advantages sought from a renewable energy source, but with none of the economic and technical issues normally associated with solar, wind and other approaches.
The best feature of Giant King Grass may in fact be that there is no need to wait for clean renewable power plantations to dot the planet. GKG is already well on its way to cleaning up the power industry. ViaSpace has been approached by industry and government specialists from around the world seeking to reduce the carbon footprint of existing power plants through the use of shipped GKG pellets. The company is now actively engaged in pursuing contracts to supply GKG through partnerships and joint ventures.
For additional information, visit the company’s website at www.ViaSpace.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.
Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net
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