Quantum Fuel Systems Technologies Worldwide (QTWW) Enters Strategic Relationship With Major Wind Turbine Manufacture To Finance and Develop Wind Farms Globally
Quantum Fuel Systems Technologies Worldwide, Inc, a fully integrated alternative energy company, in conjunction with their wholly-owned subsidiary Schneider Power, Inc, one of Canada’s premier renewable energy companies, today announced a new strategic agreement between Schneider’s wholly-owned subsidiary Trout Creek Wind Power and a major global wind turbine manufacturer for the financing and developing of wind farms in North America. The details of the deal include the manufacture will provide a maximum of CDN $24 Million dollars for finance of the construction of the generation facility and the Company will utilize the manufacturers wind turbines at the 10 MW Trout Creek Wind Farm in Ontario, Canada. Both parties anticipate closure on the deal by December 31, 2012 and agree to meet the 50% local content requirement from the Ontario Government.
“We are excited about this relationship as it provides an opportunity for us to finance the Trout Creek and potentially other wind farms while retaining 100% ownership in each project. We are hopeful that the Trout Creek agreement will be the first among a broader strategic relationship aimed at financing and developing Schneider Power’s global portfolio of 1,000 MW of wind farms,” said Alan Niedzwiecki, Quantum’s CEO in a press release.
Schneider Power has successfully completed the required wind studies to finalize the wind farm and the final environmental permitting is underway. The construction of the renewable energy generation facility is expected to be completed on schedule. Further the company anticipates that Trout Farm will produce electricity for the Ontario Power Authority as authorized in a 20-year purchase agreement with the Ontario Government’s Feed-In-Tariff program at a rate of $135/MWH starting in the fall of 2013. The local utility Hydro One Networks, Inc will help link the Wind Farm to an existing high voltage transmission line near the property.
In Canada, Schneider Power currently operates wind farms and has a significant development portfolio of potential renewable power facilities in excess of 1,000 MW. Across North America, the company evaluates, designs ,builds, owns and operates some of the most advanced renewable energy generation projects.
For more information, please visit www.qtwww.com or www.schneiderpower.com
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Friday, December 23, 2011
China Direct Industries, Inc. (CDII) FY11 Financials Report Shows Solid Growth, Positive Leading Indicators in Fundamentals
Today, China Direct, a veritable clearinghouse for investment capital interests and management logistics based in the US, which serves the small- to mid-sized business sector of the PRC and produces/distributes to both markets (largely industrial products), reported excellent financials for FY11 (period ending Sept. 30).
Let’s take a look at a quick breakdown of the salient data points from the report:
Revenue up 66.6% to $187.8M from FY10
Gross Profits up 171.1% to $19.5M over FY10 data – GP Margins also up 63% (to 10.4%)
Net Income of $9.3M compared to a $3.2M loss in FY10
Diluted EPS of $0.25 compared to a loss of $0.11 per share in FY10
Total Assets of $116M, up 21% over FY10
Shareholder Equity of $68M (up 35.5%) on 40.4M (31.7M in FY10) shares outstanding
Cash and Cash Equiv. up 24.8% to $12.6M and Prepaid Expense up 67.4% to $14.4M
Working Capital up 46.9% to $44.5M
All around a huge upswing for CDII as this ambitious Deerfield Beach, Florida headquartered continent spanner becomes an increasingly dominant hub for nurturing various entities and business solutions to fruition within the PRC.
Growth across all business segments in FY11 shows solid evolution of end market cohesion, with revenue from the Ruiming Magnesium acquisition, the consulting segment and international commodities businesses leading the charge. Magnesium segment hit $99.9M, up 95.3% on strong demand and high volume (up 68.2%, or 36,637 metric tons) bolstered by an increase in the average sale price (up 15.1% to $2,703/ton).
The basic materials segment saw similar dynamics with revenue up 17.2% to $68.9M largely on the strength iron ore from the Company’s US-based industrial commodities business. The consulting segment did quite well, bringing in total revenues of $19M, up a whopping 578.6% on fees earned via two new big clients.
The abundant forward momentum generated across the entire operating environment in FY11 is set to be exploited fully by CDII and despite some cyclical softening of magnesium demand late in the year the Company went into FY12 with strong prices and indicators. Plans to utilize cleaner and more efficient waste gas, combined with strategic magnesium acquisitions should really push operations to a whole new level for CDII in this segment and projected tightening of Chinese supply should accelerate things significantly.
Chairman and CEO of CDII, Dr. James Wang, commented on the bold return of the Company to profitability in FY11, and underscored the potential of consolidation in the magnesium segment, as well as the Company’s successful expansion efforts in North and South America. Sourcing iron ore from Mexico into China, crystallizing price/logistical dynamics in the magnesium segment and due diligence fostering a stronger presence in Bolivia/Chile in order to meet market demand by growing the Company’s commodities business well through 2012, all are seen as contributing factors to a positive forward outlook. With the current business environment for publicly US-traded Chinese companies lighting brushfires of production across the operational landscape, CDII is positioning for strong growth in fundamentals as the consulting business really starts to heat up.
For more information on the financials report, or on China Direct Industries, Inc., please visit the Company’s website at: www.cdii.net
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Let’s take a look at a quick breakdown of the salient data points from the report:
Revenue up 66.6% to $187.8M from FY10
Gross Profits up 171.1% to $19.5M over FY10 data – GP Margins also up 63% (to 10.4%)
Net Income of $9.3M compared to a $3.2M loss in FY10
Diluted EPS of $0.25 compared to a loss of $0.11 per share in FY10
Total Assets of $116M, up 21% over FY10
Shareholder Equity of $68M (up 35.5%) on 40.4M (31.7M in FY10) shares outstanding
Cash and Cash Equiv. up 24.8% to $12.6M and Prepaid Expense up 67.4% to $14.4M
Working Capital up 46.9% to $44.5M
All around a huge upswing for CDII as this ambitious Deerfield Beach, Florida headquartered continent spanner becomes an increasingly dominant hub for nurturing various entities and business solutions to fruition within the PRC.
Growth across all business segments in FY11 shows solid evolution of end market cohesion, with revenue from the Ruiming Magnesium acquisition, the consulting segment and international commodities businesses leading the charge. Magnesium segment hit $99.9M, up 95.3% on strong demand and high volume (up 68.2%, or 36,637 metric tons) bolstered by an increase in the average sale price (up 15.1% to $2,703/ton).
The basic materials segment saw similar dynamics with revenue up 17.2% to $68.9M largely on the strength iron ore from the Company’s US-based industrial commodities business. The consulting segment did quite well, bringing in total revenues of $19M, up a whopping 578.6% on fees earned via two new big clients.
The abundant forward momentum generated across the entire operating environment in FY11 is set to be exploited fully by CDII and despite some cyclical softening of magnesium demand late in the year the Company went into FY12 with strong prices and indicators. Plans to utilize cleaner and more efficient waste gas, combined with strategic magnesium acquisitions should really push operations to a whole new level for CDII in this segment and projected tightening of Chinese supply should accelerate things significantly.
Chairman and CEO of CDII, Dr. James Wang, commented on the bold return of the Company to profitability in FY11, and underscored the potential of consolidation in the magnesium segment, as well as the Company’s successful expansion efforts in North and South America. Sourcing iron ore from Mexico into China, crystallizing price/logistical dynamics in the magnesium segment and due diligence fostering a stronger presence in Bolivia/Chile in order to meet market demand by growing the Company’s commodities business well through 2012, all are seen as contributing factors to a positive forward outlook. With the current business environment for publicly US-traded Chinese companies lighting brushfires of production across the operational landscape, CDII is positioning for strong growth in fundamentals as the consulting business really starts to heat up.
For more information on the financials report, or on China Direct Industries, Inc., please visit the Company’s website at: www.cdii.net
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Helix BioPharma Corp. (HBP) files for Clinical Trial Application in Germany and UK for Approval of Phase III Efficacy Trial
Helix BioPharma Corp., a biopharmaceutical company developing drug candidates for the prevention and treatment of cancer, has filed a clinical trial application (CTA) in both Germany and the United Kingdom, with the Bundesinstitut für Arzneimittel und Medizinprodukte (BfArM) and the Medicines and Healthcare Regulatory Authority (MHRA) respectively. The company is seeking approval to perform its planned European phase III efficacy trial of Topical Interferon Alpha-2b in patients with low-grade cervical lesions.
Topical Interferon Alpha-2b is the company’s most advanced product in development. By incorporating Helix’s proprietary Biphasix™ drug delivery technology, Topical Interferon Alpha-2b is designed to offer a superior method of delivering interferon alpha-2b therapeutically to HPV-infected tissues. The product is designed for patients with low-grade cervical lesions for which there is no available pharmaceutical therapy in the current market.
“This is a significant step for Helix. We are seeking approval to conduct what we intend to be a second, confirmatory efficacy trial of Topical Interferon Alpha-2b in patients with low-grade cervical lesions, to complement and parallel our recently approved U.S. phase II/III efficacy trial,” John Docherty, president of Helix stated in the press release. “Together, these two pivotal efficacy trials, if successful, are intended to support U.S. and European marketing authorizations for the product for this indication.”
Helix selected Germany for filing its CTA due to the fact that it has a history of conducting clinical studies with the product in Germany in the past. In addition, both Germany and the UK have a large population from which to recruit prospective patients.
The CTA process is preceded by a two-week initial screening process followed by a 30-day CTA review for each jurisdiction. The proposed 12-month phase III trial is planned to be a randomized, double-blind study of Topical Interferon Alpha-2b. The company will enroll approximately 492 female patients who will receive a dose regimen identical to the recently completed phase II pharmacokinetic study of Topical Interferon Alpha-2b.
Helix said that contingent on their success, results of its U.S. phase II/III trial and European phase III trial will be submitted together in order to seek U.S. and European marketing authorizations for the product for this indication.
However, Helix needs additional funding and a strategic partner support before commencing this trial, and as such, the company cannot offer an estimated timeline for start or completion of this trial.
For more information visit www.helixbiopharma.com
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Topical Interferon Alpha-2b is the company’s most advanced product in development. By incorporating Helix’s proprietary Biphasix™ drug delivery technology, Topical Interferon Alpha-2b is designed to offer a superior method of delivering interferon alpha-2b therapeutically to HPV-infected tissues. The product is designed for patients with low-grade cervical lesions for which there is no available pharmaceutical therapy in the current market.
“This is a significant step for Helix. We are seeking approval to conduct what we intend to be a second, confirmatory efficacy trial of Topical Interferon Alpha-2b in patients with low-grade cervical lesions, to complement and parallel our recently approved U.S. phase II/III efficacy trial,” John Docherty, president of Helix stated in the press release. “Together, these two pivotal efficacy trials, if successful, are intended to support U.S. and European marketing authorizations for the product for this indication.”
Helix selected Germany for filing its CTA due to the fact that it has a history of conducting clinical studies with the product in Germany in the past. In addition, both Germany and the UK have a large population from which to recruit prospective patients.
The CTA process is preceded by a two-week initial screening process followed by a 30-day CTA review for each jurisdiction. The proposed 12-month phase III trial is planned to be a randomized, double-blind study of Topical Interferon Alpha-2b. The company will enroll approximately 492 female patients who will receive a dose regimen identical to the recently completed phase II pharmacokinetic study of Topical Interferon Alpha-2b.
Helix said that contingent on their success, results of its U.S. phase II/III trial and European phase III trial will be submitted together in order to seek U.S. and European marketing authorizations for the product for this indication.
However, Helix needs additional funding and a strategic partner support before commencing this trial, and as such, the company cannot offer an estimated timeline for start or completion of this trial.
For more information visit www.helixbiopharma.com
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Granite City Food & Brewery (GCFB) Acquires Assets of Miami-Based Cadillac Ranch Restaurant
Today, Granite City Food & Brewery Ltd. announced that it completed the purchase of assets belonging to the Cadillac Ranch All American Bar & Grill restaurant in Miami, Florida. The Miami restaurant is located in the Palms Town & Country Mall.
Granite City previously announced that it purchased the assets of the Cadillac Ranch restaurant at the Mall of America in Bloomington, Minnesota. To date, the aggregate purchase price totals $2.8 million, including the $1.4 million paid in November 2011 for the assets at the Mall of America. The companies have a master asset purchase agreement that allows for the purchase of the assets of up to five additional Cadillac Ranch restaurants.
Since Granite City’s May 2011 receipt of debt financing from Fifth Third Bank, the company has developed plans to enhance revenue at existing Cadillac Ranch stores and also develop new stores, such as the recently announced Troy, Michigan location. That location is scheduled to open in early 2012.
Granite City Food & Brewery is a modern American restaurant and brewery. The restaurant serves food made fresh on site using high quality ingredients. Extensive menu features moderately priced favorites served in generous portions. It also offers an award-winning signature line of craft beers. Granite City Food & Brewery Ltd. opened its first restaurant in St. Cloud, Minnesota in 1999 and now operates 28 restaurants in 12 states.
Please visit www.gcfb.net for more information.
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Granite City previously announced that it purchased the assets of the Cadillac Ranch restaurant at the Mall of America in Bloomington, Minnesota. To date, the aggregate purchase price totals $2.8 million, including the $1.4 million paid in November 2011 for the assets at the Mall of America. The companies have a master asset purchase agreement that allows for the purchase of the assets of up to five additional Cadillac Ranch restaurants.
Since Granite City’s May 2011 receipt of debt financing from Fifth Third Bank, the company has developed plans to enhance revenue at existing Cadillac Ranch stores and also develop new stores, such as the recently announced Troy, Michigan location. That location is scheduled to open in early 2012.
Granite City Food & Brewery is a modern American restaurant and brewery. The restaurant serves food made fresh on site using high quality ingredients. Extensive menu features moderately priced favorites served in generous portions. It also offers an award-winning signature line of craft beers. Granite City Food & Brewery Ltd. opened its first restaurant in St. Cloud, Minnesota in 1999 and now operates 28 restaurants in 12 states.
Please visit www.gcfb.net for more information.
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Albany Molecular Research, Inc. (AMRI) To Streamline Operations
Albany Molecular Research, reflecting the ongoing challenges of the global economy, announced today a series of cost saving actions for 2012, including a reduction in the company’s workforce. The moves are designed to improve AMRI’s overall cost competiveness and increase cash flow generation. The workforce reductions are primarily aimed at U.S. operations, and are in line with earlier announced reductions in the company’s internal R&D activities. The goal is to generate a total annual savings of approximately $10-$11 million. Although savings will begin to be recognized in the first quarter of 2012, AMRI expects to incur a pre-tax restructuring charge in the fourth quarter of approximately $5-$6 million associated with a lease termination and employee severance costs.
AMRI has also filed a shelf registration statement with the SEC, intended to provide the company with flexibility to raise funds from the offering of its securities. The company may occasionally offer its common stock, preferred stock, and warrants, up to an aggregate public offering price of $50 million.
AMRI’s President and CEO, Thomas E. D’Ambra, spoke of the move: “As we stated in our announcement in November, we are committed to taking the necessary actions to reduce the Company’s operating expenses to focus on our core contract research and manufacturing business and to ensure profitability. These actions will place AMRI in a more cost-competitive position while ensuring we continue to provide the highest quality service to our clients. We are moving quickly on these carefully considered actions and expect them to positively impact cash flow during the next year. Although our outlook for growth in outsourced contract services by global pharmaceutical companies remains positive, as evidenced by our recent strategic deals, we continue to evaluate our global infrastructure for additional opportunities to streamline our operations and reduce cost.”
AMRI is a global contract research and manufacturing organization that provides customers with integrated services for the development of pharmaceutical products and the manufacturing of API and drug product for existing and experimental new drugs.
For additional information, visit the company’s website at www.AMRIGlobal.com
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AMRI has also filed a shelf registration statement with the SEC, intended to provide the company with flexibility to raise funds from the offering of its securities. The company may occasionally offer its common stock, preferred stock, and warrants, up to an aggregate public offering price of $50 million.
AMRI’s President and CEO, Thomas E. D’Ambra, spoke of the move: “As we stated in our announcement in November, we are committed to taking the necessary actions to reduce the Company’s operating expenses to focus on our core contract research and manufacturing business and to ensure profitability. These actions will place AMRI in a more cost-competitive position while ensuring we continue to provide the highest quality service to our clients. We are moving quickly on these carefully considered actions and expect them to positively impact cash flow during the next year. Although our outlook for growth in outsourced contract services by global pharmaceutical companies remains positive, as evidenced by our recent strategic deals, we continue to evaluate our global infrastructure for additional opportunities to streamline our operations and reduce cost.”
AMRI is a global contract research and manufacturing organization that provides customers with integrated services for the development of pharmaceutical products and the manufacturing of API and drug product for existing and experimental new drugs.
For additional information, visit the company’s website at www.AMRIGlobal.com
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Compass Biotechnologies (COBI) Details Blueprint for Managing and Financing 4 New Subsidiaries
Compass Biotechnologies Inc. is a specialty pharmaceutical company focused on building value in the following four key market areas: hepatitis anti-viral drugs and prophylactic vaccines, recombinant protein therapeutics called “biobetters,” a diagnostics, cytokine reagents and growth factor supplements business for the research community and the biotech manufacturing industry, and a new women’s healthcare franchise.
The company today outlined its plan of action to facilitate this new strategy. Compass management will direct the operations of these subsidiaries by implementing expertise to develop and commercialize the various product groupings.
“We have been fortunate over the past 6-9 months to be able to establish these four focal points for value creation and we have been able to create subsidiary companies that can participate in product development targeting multiple billion dollar markets,” Dr. Joseph Sinkule, president of Compass stated in the press release. “The four subsidiaries will be managed on a day-to-day basis by a team of talented development people with past experience in each of the four franchise areas. The board and senior management of Compass will provide overall finance, human resources, marketing/sales, medical, regulatory, and all other necessary support to these internationally-located operating subsidiaries. The value growth and revenue-generation created by each of the subsidiaries will be funneled to Compass and Compass shareholders.”
The diagnostics, reagents and supplements business will provide near-term revenue through sales and distribution of products to researchers and to manufacturers requiring bulk GMP-cytokines and growth factors such as recombinant human insulin (Compass Scientific).
The hepatitis franchise (C-Pharma Inc.) will capitalize on the low risk and rapid approval of generics drugs used to treat hepatitis B and hepatitis C, with the long-term upside potential of the company’s preventative vaccines against these diseases.
The biobetters franchise, (Compass Biotech), will utilize collaborative efforts to improve biosimilar proteins such as EPO and G-CSF to produce improved formulations and better products.
The new women’s health franchise (GenBioPro Inc.) will focus on commercialization of products based on unique medical and diagnostic needs for women around the world. Compass plans to fund the programs through its own efforts as well as through a registered offering planned for early 2012.The company has engaged advisors to raise approximately $5 million as a bridge financing in the first quarter of 2012 leading to a larger secondary offering later in 2012.
For more information visit www.compassbio.net
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The company today outlined its plan of action to facilitate this new strategy. Compass management will direct the operations of these subsidiaries by implementing expertise to develop and commercialize the various product groupings.
“We have been fortunate over the past 6-9 months to be able to establish these four focal points for value creation and we have been able to create subsidiary companies that can participate in product development targeting multiple billion dollar markets,” Dr. Joseph Sinkule, president of Compass stated in the press release. “The four subsidiaries will be managed on a day-to-day basis by a team of talented development people with past experience in each of the four franchise areas. The board and senior management of Compass will provide overall finance, human resources, marketing/sales, medical, regulatory, and all other necessary support to these internationally-located operating subsidiaries. The value growth and revenue-generation created by each of the subsidiaries will be funneled to Compass and Compass shareholders.”
The diagnostics, reagents and supplements business will provide near-term revenue through sales and distribution of products to researchers and to manufacturers requiring bulk GMP-cytokines and growth factors such as recombinant human insulin (Compass Scientific).
The hepatitis franchise (C-Pharma Inc.) will capitalize on the low risk and rapid approval of generics drugs used to treat hepatitis B and hepatitis C, with the long-term upside potential of the company’s preventative vaccines against these diseases.
The biobetters franchise, (Compass Biotech), will utilize collaborative efforts to improve biosimilar proteins such as EPO and G-CSF to produce improved formulations and better products.
The new women’s health franchise (GenBioPro Inc.) will focus on commercialization of products based on unique medical and diagnostic needs for women around the world. Compass plans to fund the programs through its own efforts as well as through a registered offering planned for early 2012.The company has engaged advisors to raise approximately $5 million as a bridge financing in the first quarter of 2012 leading to a larger secondary offering later in 2012.
For more information visit www.compassbio.net
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Harvest Natural Resources, Inc. (HNR) Reports On International Oil And Gas Exploration Activities
Harvest Natural Resources, Inc. issued an operations update on the company’s international oil and gas activities. The company is active in various properties in Asia and the Middle East.
Harvest Natural Resources, Inc. started drilling an exploratory well on Qarn Alam Block 64 in Oman. The Al Ghubar North–A well is the second of a two well program designed to test the hydrocarbon potential of this block. The company reported that the well is being drilled by the Rig #113 drilling unit owned by MB Petroleum Services LLC.
Harvest Natural Resources, Inc. is testing the potential of the Al Ghubar North structure, which consists of the Barik, Miqrat and Amin reservoirs. The company estimates the exploratory success of this well at 23%.
Harvest Natural Resources, Inc. owns an 80% working interest in the Al Ghubar North–A well and will drill the well to a total vertical depth of 10,300 feet at a cost of $8.1 million.
Harvest Natural Resources, Inc. is also active on the Budong-Budong Block located in West Sulawesi, Indonesia. The company reported that the KD-1 exploration well has reached at total depth of approximately 14,400 feet and is being evaluated by the company.
For more information on the company, go to: http://www.harvestnr.com/
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Harvest Natural Resources, Inc. started drilling an exploratory well on Qarn Alam Block 64 in Oman. The Al Ghubar North–A well is the second of a two well program designed to test the hydrocarbon potential of this block. The company reported that the well is being drilled by the Rig #113 drilling unit owned by MB Petroleum Services LLC.
Harvest Natural Resources, Inc. is testing the potential of the Al Ghubar North structure, which consists of the Barik, Miqrat and Amin reservoirs. The company estimates the exploratory success of this well at 23%.
Harvest Natural Resources, Inc. owns an 80% working interest in the Al Ghubar North–A well and will drill the well to a total vertical depth of 10,300 feet at a cost of $8.1 million.
Harvest Natural Resources, Inc. is also active on the Budong-Budong Block located in West Sulawesi, Indonesia. The company reported that the KD-1 exploration well has reached at total depth of approximately 14,400 feet and is being evaluated by the company.
For more information on the company, go to: http://www.harvestnr.com/
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