Triangle Petroleum, www.trianglepetroleum.com – the independent oil and gas exploration and production firm with some 475k gross acres in Nova Scotia at the Windsor Block and another 13k net acres in the Williston Basin targeting the Bakken Shale/Three Forks, announced several new strategic initiatives in addition to an operational status update and 2011 projected drilling schedule.
A joint venture with two Oppenheimer & Co, Inc. investment funds operating out of NY, OGR (Oppenheimer Global Resource Private Equity Fund I) and a related co-investment fund went into effect on the 22nd of this month.
A $25M capital commitment from OGR directed towards developments in TPLM’s Bakken Shale efforts, $10M of which is initial capital, with rights for OGR to increase this value to $19M and subsequent rights under the agreement to 25% participation in future activity in the Williston Basin.
Additional stipulations under the agreement are as follows:
• OGR will pay for its share of all leasehold costs in which it participates in addition to a premium paid to TPLM (equal to a percentage of lease acquisition costs) as remuneration for TPLM’s footwork and sourcing
• OGR will take on 25% of TPLM’s brokerage costs region-wide
• OGR will pay its share of drilling and completion and a 10% premium to TPLM
• TPLM will receive an annual management fee for general and administrative
• Any future acquisition of leases associated with TPLM’s Slawson Exploration joint venture is excluded
CFO of TPLM, Jonathan Samuels, hailed the deal as a tremendous opportunity to pursue expansion of operations in the Williston Basin and sees the merger of parallel competencies and interests as a cost effective means of doing so.
Also in today’s announcements was the acquisition of substantially all assets of Williston Exploration LLC, consisting of some 1,732 net acres of undeveloped acres in contiguous blocks where 3 separate 1,280-acre drilling units will afford TPLM its first operated drilling locations.
A reported $22M in cash and some 4.3M shares of TPLM will change hands with the transaction and closing will be broken into two parts, one in Dec. 2010 and one next year in February.
The Company also disclosed that it picked up some 700 net acres (1,200 acres at $1k/acre) in immediate proximity to the Williston acquisition.
Projected participation in 20 gross and 5.3 net wells over the next 15 months (including 2 on the Williston property) by TPLM puts the Company in a very strong resource position overall with adequate footing and logistical capacity to deliver returns to shareholders.
The first joint venture well with Slawson is schedule the end of this month and Slawson will drill approximately 9 more well through 2011 consistent with the Company’s strategic plan to grow through shrewd acquisitions of prime development opportunities.
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Wednesday, October 27, 2010
High Plains Gas, Inc. (NXPND.OB) Provides Update on Their Operations
Yesterday, High Plains Gas, Inc. announced an update on their operational activities in the Powder River Basin of Wyoming.
Concerning the Dry Fork Project, the Company has secured the lease making up the Project in the Powder River Basin (PRB). High Plains Gas has drilled seven wells on the lease with three beginning to show gas. They own other wells in the area that have been producing gas for more than seven years. In addition to proven production, the Company maintains secure control of all gas flow around, to and from the Project.
The initial phase of the Dry Fork Project will be comprised of 70 new wells with drilling to be completed in May of 2011. The second phase of the Dry Fork Project is a continuation of phase one with 83 new wells forecasted to be completed by June of 2012.
High Plains Gas, Inc. owns and controls the only transmission line with access to this gas opportunity. The Company has strong relationships with two independent transmission companies who will act as the point of sale for all gas produced by the Dry Fork Project. Redundancy in the points of sale enables High Plains Gas to minimize compression fees and reduce failure risks with their transmission partners.
Mr. Mark Hettinger, Chairman of High Plains Gas, Inc., said, “Our goal is to own or develop strong relationships with the majority of the midstream and compression on our fields. We are aggressively pursuing partnerships and contracts that will allow us to achieve this goal.”
Headquartered in Gillette, Wyoming, High Plains Gas, Inc. is an energy company actively engaged in the acquisition, development and production of natural gas primarily in the Powder River Basin. The Company currently maintains seven active leases in the region with 92 wells producing natural gas.
High Plains Gas, Inc. has a strong foundation in the Basin and growth as a core value. To achieve their growth plans, the Company owns an inventory of gas related equipment and material. Current average well depth is approximately 280 feet. At this depth, they own sufficient well casing to cover 20 wells. The Company also owns 36 additional well site equipment packages. They also have an inventory of eight miles of 8 inch transmission line.
The Company will purse expansion opportunities for the profitable production and transmission of natural gas. They also believe that they have unique experience and expertise in the refurbishment and reactivation of wells that produce gas from coal bed methane (CBM) formations.
For more information visit: www.highplainsgas.com
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Concerning the Dry Fork Project, the Company has secured the lease making up the Project in the Powder River Basin (PRB). High Plains Gas has drilled seven wells on the lease with three beginning to show gas. They own other wells in the area that have been producing gas for more than seven years. In addition to proven production, the Company maintains secure control of all gas flow around, to and from the Project.
The initial phase of the Dry Fork Project will be comprised of 70 new wells with drilling to be completed in May of 2011. The second phase of the Dry Fork Project is a continuation of phase one with 83 new wells forecasted to be completed by June of 2012.
High Plains Gas, Inc. owns and controls the only transmission line with access to this gas opportunity. The Company has strong relationships with two independent transmission companies who will act as the point of sale for all gas produced by the Dry Fork Project. Redundancy in the points of sale enables High Plains Gas to minimize compression fees and reduce failure risks with their transmission partners.
Mr. Mark Hettinger, Chairman of High Plains Gas, Inc., said, “Our goal is to own or develop strong relationships with the majority of the midstream and compression on our fields. We are aggressively pursuing partnerships and contracts that will allow us to achieve this goal.”
Headquartered in Gillette, Wyoming, High Plains Gas, Inc. is an energy company actively engaged in the acquisition, development and production of natural gas primarily in the Powder River Basin. The Company currently maintains seven active leases in the region with 92 wells producing natural gas.
High Plains Gas, Inc. has a strong foundation in the Basin and growth as a core value. To achieve their growth plans, the Company owns an inventory of gas related equipment and material. Current average well depth is approximately 280 feet. At this depth, they own sufficient well casing to cover 20 wells. The Company also owns 36 additional well site equipment packages. They also have an inventory of eight miles of 8 inch transmission line.
The Company will purse expansion opportunities for the profitable production and transmission of natural gas. They also believe that they have unique experience and expertise in the refurbishment and reactivation of wells that produce gas from coal bed methane (CBM) formations.
For more information visit: www.highplainsgas.com
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PHIGroup, Inc. (PHIE.OB) Subsidiary Updates Pointe91 Development Schedule
Yesterday, PHIGroup, Inc. released news that its subsidiary, PHILand Ranch Ltd., has submitted an updated implementation schedule to the Chu Lai Open Economic Zone Authority for its Pointe91 development project at Bien Rang, Vietnam. The company engages in the development of master-planned communities, residential and commercial properties, hospitality and healthcare services in Vietnam and Southeast Asia
The 120-acre Pointe91 development is located on an exclusive and majestic bluff overlooking the South China Sea. Pointe91 will offer exclusive luxury accommodations including 227 grand private residences in seven separate communities, an exclusive five-star beach hotel and spa and 30 detached premium residences that will be part of a private residence club. Additional amenities include a marina, hiking and walking trails, an outdoor amphitheater, pristine beaches, and a farmer’s market.
According to the updated plan, PHILand Ranch plans to complete the relocation program for the seven households still residing on the allotted land parcel by the end of November 2010. Construction of Phase One at Pointe91, which includes the entry gate, the guardhouse, the sales office, and model homes, is slated to begin by Christmas 2010. Phase Five, the final phase of the project, should be completed by Christmas 2013, which precedes the anticipated inauguration of the new expressway along the Quang Nam Province’s coastal corridor that connects Chu Lai and Hoi An (the UNESCO-designated tourist destination 40 miles north of Pointe91).
Henry Fahman, Chairman of PHILand Ranch, remarked, “We look forward to completing major milestones for the Pointe91 project in the coming months, taking into account all the important aspects including aesthetics, culture, technicalities, and economics to ensure a lasting success. We are also grateful to Marc Townsend, Managing Director of CBRE Vietnam, for providing us with up-to-date market information which is very instrumental for our continued development, sales and marketing efforts in Vietnam.”
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The 120-acre Pointe91 development is located on an exclusive and majestic bluff overlooking the South China Sea. Pointe91 will offer exclusive luxury accommodations including 227 grand private residences in seven separate communities, an exclusive five-star beach hotel and spa and 30 detached premium residences that will be part of a private residence club. Additional amenities include a marina, hiking and walking trails, an outdoor amphitheater, pristine beaches, and a farmer’s market.
According to the updated plan, PHILand Ranch plans to complete the relocation program for the seven households still residing on the allotted land parcel by the end of November 2010. Construction of Phase One at Pointe91, which includes the entry gate, the guardhouse, the sales office, and model homes, is slated to begin by Christmas 2010. Phase Five, the final phase of the project, should be completed by Christmas 2013, which precedes the anticipated inauguration of the new expressway along the Quang Nam Province’s coastal corridor that connects Chu Lai and Hoi An (the UNESCO-designated tourist destination 40 miles north of Pointe91).
Henry Fahman, Chairman of PHILand Ranch, remarked, “We look forward to completing major milestones for the Pointe91 project in the coming months, taking into account all the important aspects including aesthetics, culture, technicalities, and economics to ensure a lasting success. We are also grateful to Marc Townsend, Managing Director of CBRE Vietnam, for providing us with up-to-date market information which is very instrumental for our continued development, sales and marketing efforts in Vietnam.”
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Mainland Resources, Inc. (MNLU.OB) Completes Key Stage, Enters Final Stage of Drilling
Yesterday, Mainland Resources, Inc. updated its progress on drilling operations on their Buena Vista Prospect in Jefferson County, MI. This is located in what is being considered the fourth largest gas field in the world.
Mainland Resources, Inc., an oil company that explores oil and gas resources, has drilled their Burkley-Phillips No. 1 well to a depth of 17, 872 feet, and has detected potential gas productive intervals in the shale. Mainland’s current initiatives are focused on acquiring leases on land in emerging gas regions that show potential for oil and gas discovery.
The Buena Vista Prospect has so far shown signs of derived gas hydrocarbon of differing qualities, which might suggest an active hydrocarbon source.
The Burkley-Phillips well is currently drilling at a depth of 17,9000 feet, with the goal of a total depth of 22,000 feet, cutting through the Cotton VAlley and Haynesville intervals. Mainland Resources management will provide updates on the drilling process as further milestones are reached.
Nick Atencio, Mainland CEO, stated, “Setting this string of casing was a key milestone in the progress of the well. Although we set this current string of casing above the originally programmed depth, we have a wellbore now with prospective zones protected by casing, which will facilitate drilling through the Cotton Valley and Haynesville to the programmed Total Depth. It is also very encouraging to encounter zones with apparent hydrocarbon charge. This supports our geologic model which envisioned a viable hydrocarbon source and effective hydrocarbon migration and trapping mechanisms.”
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Mainland Resources, Inc., an oil company that explores oil and gas resources, has drilled their Burkley-Phillips No. 1 well to a depth of 17, 872 feet, and has detected potential gas productive intervals in the shale. Mainland’s current initiatives are focused on acquiring leases on land in emerging gas regions that show potential for oil and gas discovery.
The Buena Vista Prospect has so far shown signs of derived gas hydrocarbon of differing qualities, which might suggest an active hydrocarbon source.
The Burkley-Phillips well is currently drilling at a depth of 17,9000 feet, with the goal of a total depth of 22,000 feet, cutting through the Cotton VAlley and Haynesville intervals. Mainland Resources management will provide updates on the drilling process as further milestones are reached.
Nick Atencio, Mainland CEO, stated, “Setting this string of casing was a key milestone in the progress of the well. Although we set this current string of casing above the originally programmed depth, we have a wellbore now with prospective zones protected by casing, which will facilitate drilling through the Cotton Valley and Haynesville to the programmed Total Depth. It is also very encouraging to encounter zones with apparent hydrocarbon charge. This supports our geologic model which envisioned a viable hydrocarbon source and effective hydrocarbon migration and trapping mechanisms.”
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QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.
Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net
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Vicor Technologies (VCRT.OB) Advancing Sports Science by Assessing Concussions in NCAA Athletes
Concussions in competitive sports at all levels are the subject of incredible amounts of discussions today. After years of being somewhat dismissed as simply part of a game, the long-term effects of a concussion, not to mention several concussions, are starting to become fully realized with concerted efforts to prevent them now a primary focus of regulators across the board today. All rule changes and other disciplinary actions aside, a key focus is falling where it should; on the health of the victim of the concussion.
Vicor Technologies announced yesterday that it has received Institutional Review Board (IRB) approval from the University of Mississippi Medical Center (UMMC) for a study to assess concussions in competitive athletes using the Company’s revolutionary PD2i Analyzer™. The team at Vicor is making rapid strides and gaining considerable notoriety with the industry recently regarding the PD2i Analyzer as a diagnostic tool to accurately risk stratify specific target populations for future pathological events, including, but not limited to, trauma victims, congestive heart failure patients for cardiac death resulting from arrhythmia or pump failure and diabetics for diabetic autonomic neuropathy (DAN).
David Fater, CEO of Vicor Technologies, stated, “We’re pleased to have approval from UMMC’s IRB permitting us to commence this important study of concussion status in competitive athletes — a first for the PD2i Analyzer™. Being able to effectively assess the extent of a concussion and risk of follow-on pathological events in athletes will enable all involved in assessing the extent of harm incurred during competitive play to better determine player need for advanced care and/or player ability to continue to play unharmed. With this approval, we will begin enrolling patients for this important and exciting clinical research study with an NCAA school, which could lead to other similar studies in the future.”
While this is only the first study to test the PD2i as a diagnostic tool for concussions, it is a huge step in the right direction for identifying potential future risks for those suffering a concussion. Not only is it a critical aspect of sports, but let’s not forget about all the non-athletes in this world who suffer concussions on a daily basis. The high profile NFL and NCAA may be playing an important role in shining light upon an important subject, but the research can benefit all of mankind.
More information about Vicor Technologies can be found on the company’s website at www.vicortech.com
Several videos on the web discussing the NFL and concussions can be viewed at:
NFL Injury Report: Concussions: http://www.youtube.com/watch?v=b6ZFOqyoo1s
Sport Science: NFL Concussions and helmet to hemet collisions: http://www.youtube.com/watch?v=fFkWTGKNLT8
By rough count, Deadspin reported their belief that there have been 46 concussions so far in the NFL this year. They have assembled a compilation of 14 of the hits that caused the concussions: http://deadspin.com/5667912/the-year-in-nfl-concussions-so-far-a-horrifying-video-compilation
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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Please see disclaimer on QualityStocks website: http://disclaimer.qualitystocks.net
Vicor Technologies announced yesterday that it has received Institutional Review Board (IRB) approval from the University of Mississippi Medical Center (UMMC) for a study to assess concussions in competitive athletes using the Company’s revolutionary PD2i Analyzer™. The team at Vicor is making rapid strides and gaining considerable notoriety with the industry recently regarding the PD2i Analyzer as a diagnostic tool to accurately risk stratify specific target populations for future pathological events, including, but not limited to, trauma victims, congestive heart failure patients for cardiac death resulting from arrhythmia or pump failure and diabetics for diabetic autonomic neuropathy (DAN).
David Fater, CEO of Vicor Technologies, stated, “We’re pleased to have approval from UMMC’s IRB permitting us to commence this important study of concussion status in competitive athletes — a first for the PD2i Analyzer™. Being able to effectively assess the extent of a concussion and risk of follow-on pathological events in athletes will enable all involved in assessing the extent of harm incurred during competitive play to better determine player need for advanced care and/or player ability to continue to play unharmed. With this approval, we will begin enrolling patients for this important and exciting clinical research study with an NCAA school, which could lead to other similar studies in the future.”
While this is only the first study to test the PD2i as a diagnostic tool for concussions, it is a huge step in the right direction for identifying potential future risks for those suffering a concussion. Not only is it a critical aspect of sports, but let’s not forget about all the non-athletes in this world who suffer concussions on a daily basis. The high profile NFL and NCAA may be playing an important role in shining light upon an important subject, but the research can benefit all of mankind.
More information about Vicor Technologies can be found on the company’s website at www.vicortech.com
Several videos on the web discussing the NFL and concussions can be viewed at:
NFL Injury Report: Concussions: http://www.youtube.com/watch?v=b6ZFOqyoo1s
Sport Science: NFL Concussions and helmet to hemet collisions: http://www.youtube.com/watch?v=fFkWTGKNLT8
By rough count, Deadspin reported their belief that there have been 46 concussions so far in the NFL this year. They have assembled a compilation of 14 of the hits that caused the concussions: http://deadspin.com/5667912/the-year-in-nfl-concussions-so-far-a-horrifying-video-compilation
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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Barrett Business Services, Inc. (BBSI) Reports Third Quarter Results
Barrett Business Services, Inc. reported strong year over year increases in net income and sales in the third quarter of 2010, ending September 30, 2010.
Barrett Business Services, Inc. reported net income of $3.7 million, or $0.36 per diluted share, in the third quarter of 2010, compared to net income of $2.9 million, or $0.28 per diluted share, in the corresponding quarter of 2009.
Net sales also came in higher for Barrett Business Services, Inc., with reported net sales of $73.9 million in the third quarter of 2010, compared to $65.5 million in last year’s third quarter.
Barrett Business Services, Inc. is required to report net sales because the company does not have a primary obligation in the Professional Employer Organization segment. The company said that gross sales, which is a non GAAP reporting item, also increased on a year over year basis, from $273 million in the third quarter of 2009, to $333 million in the quarter that just ended.
Barrett Business Services, Inc. issued financial guidance for the final quarter of 2010. The company expects gross sales to be in a range from $321 million to $326 million, and diluted earnings per share to range from $0.28 to $0.32 per share.
For more information on the company, go to www.barrettbusiness.com
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Barrett Business Services, Inc. reported net income of $3.7 million, or $0.36 per diluted share, in the third quarter of 2010, compared to net income of $2.9 million, or $0.28 per diluted share, in the corresponding quarter of 2009.
Net sales also came in higher for Barrett Business Services, Inc., with reported net sales of $73.9 million in the third quarter of 2010, compared to $65.5 million in last year’s third quarter.
Barrett Business Services, Inc. is required to report net sales because the company does not have a primary obligation in the Professional Employer Organization segment. The company said that gross sales, which is a non GAAP reporting item, also increased on a year over year basis, from $273 million in the third quarter of 2009, to $333 million in the quarter that just ended.
Barrett Business Services, Inc. issued financial guidance for the final quarter of 2010. The company expects gross sales to be in a range from $321 million to $326 million, and diluted earnings per share to range from $0.28 to $0.32 per share.
For more information on the company, go to www.barrettbusiness.com
About QualityStocks:
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Zim Corp. (ZIMCF.OB) Lights a Fire with the Acquisition of Torch
Located in Ottawa, Canada, Zim has earned a stellar reputation as a provider of software products and services for the database and mobile markets. Today, Zim announced a major step towards prominence with the acquisition of Torch Technologies.
Torch Technologies has products that are well known within Zim’s customer community for their Database Migration tools and has a product portfolio that allows enterprise clients to rapidly and cost effectively migrate and manage multiple database platforms. In this deal, Zim will acquire all of Torch’s technology assets.
Leading the way at Zim is Dr. Michael Cowpland who serves as the company’s President and CEO. When asked what this acquisition purchase will mean to the future of Zim, Dr. Cowpland was quoted as saying, “This acquisition is a strategic step in our overall enterprise database product portfolio plans. We’ve been successfully working in partnership with Torch Technologies for over a year. Their unique technology offerings combined with Zim’s enterprise database products and our recently announced Gold Level partnership with Oracle are a natural fit and will provide a powerful solution to meet the growing needs of our enterprise clients. In addition, we’ll invest further R&D resources into Torch to expand the product suite and increase its capabilities.”
It is clear that Zim’s enterprise database products will be strengthened by the addition of Torch’s advance portfolio of database migration and management products. Currently, Zim is trading in the $0.02 range. With this acquisition and a strong array of products and software already in place, Zim is a company to keep an eye on.
To learn more about the Zim Corporation, visit the company website at: www.zim.biz.
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Torch Technologies has products that are well known within Zim’s customer community for their Database Migration tools and has a product portfolio that allows enterprise clients to rapidly and cost effectively migrate and manage multiple database platforms. In this deal, Zim will acquire all of Torch’s technology assets.
Leading the way at Zim is Dr. Michael Cowpland who serves as the company’s President and CEO. When asked what this acquisition purchase will mean to the future of Zim, Dr. Cowpland was quoted as saying, “This acquisition is a strategic step in our overall enterprise database product portfolio plans. We’ve been successfully working in partnership with Torch Technologies for over a year. Their unique technology offerings combined with Zim’s enterprise database products and our recently announced Gold Level partnership with Oracle are a natural fit and will provide a powerful solution to meet the growing needs of our enterprise clients. In addition, we’ll invest further R&D resources into Torch to expand the product suite and increase its capabilities.”
It is clear that Zim’s enterprise database products will be strengthened by the addition of Torch’s advance portfolio of database migration and management products. Currently, Zim is trading in the $0.02 range. With this acquisition and a strong array of products and software already in place, Zim is a company to keep an eye on.
To learn more about the Zim Corporation, visit the company website at: www.zim.biz.
About QualityStocks:
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.
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