Archive for April, 2010

Preformed Line Products Company (PLPC) Reports 1Q 2010 Earnings

Friday, April 30th, 2010

Preformed Line Products Company reported net income of $1.1 million, or $0.21 per diluted share, in the first quarter of 2010 ending 3/31/2010. The company earned $2.7 million, or $0.51 per diluted share, in the same quarter of 2009.

Despite the drop in net income, Preformed Line Products Company reported an increase in revenue on a year over year basis, from $58.7 million in the first quarter of 2009 to $68.9 million in the quarter the just ended.

Management expressed frustration with the fall in net income in view of the strong revenue increase and attributed the difference to an increase in raw material costs, integration expenses associated with a recent acquisition and a weak economy in both the United States and Europe.

Rob Ruhlman, the CEO of Preformed Line Products Company, said, “Increases in our raw material costs and integration expenses related to the acquisition of Dulmison in December 2009 contributed to the decline in our operating profit. The improvement in sales as a result of adding Dulmison was offset by the continuing faltering economy in Europe as well as the ongoing economic challenges in the U.S.”

Preformed Line Products Company is headquartered in Ohio, and has three manufacturing facilities in the United States in Arkansas, New Mexico and North Carolina. The company has sales and customers in more than a dozen countries including Brazil, China and Thailand.

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Weis Markets, Inc. (WMK) Announces 2010 Capital Budget

Friday, April 30th, 2010

Weis Markets, Inc. announced a capital budget of $102.8 million in 2010, a 27% increase over last year.

Weis Markets, Inc. said that the increased spending would be used to increase and update the store base of the company. This would include up to 3 new stores, 2 expansions and 23 remodeling of existing stores. The company would also use some of the extra capital to increase its investment in technology infrastructure to support the increased sales growth.

David J. Hepfinger, the CEO of Weis Markets, Inc., said, “We have significantly increased our IT investments over the past two years. Our success as a company will depend on our ability to develop and incorporate rigorous analytics that give us better insight into our business and helps us increase our sales and profits.”

Weis Markets, Inc. also approved its regular quarterly dividend of $0.29 per share, payable on 5/24/2010, to shareholders of record on 5/10/2010. The stock pays an approximate yield of 3%.

Weis Markets, Inc. owns and operates a chain of supermarkets in New York, Pennsylvania, New Jersey, Maryland and West Virginia. The company also operates stores under the brand names of Save-A-Lot and Scot’s Lo-Cost.

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Vantage Drilling Company (VTG) is “One to Watch”

Friday, April 30th, 2010

Vantage Drilling Company, an offshore drilling contractor, provides drilling services internationally with a focus on deep water and other high-specification drilling solutions. The company has built one the most experienced and dynamic teams in the industry with an unsurpassed safety program, premier offshore drilling performance, and a track record of exceptional results.

The International Energy Agency (IEA) recently revised its figure for global oil demand upward, now forecasting that oil demand will reach an average of 86.60 million bpd this year, a new record high. As in-land oil fields are continually depleted and demand rises in emerging economies, oil producers will be forced to find new locations and methods to extract oil.

In most recent news, Vantage reported its financial results for the fourth quarter of 2009. Although the company reported a net loss of $4.3 million, or $0.02 a share, it was a dramatic improvement over the previous year’s report of a $43.5 million loss, or $0.57 a share. For the whole year, Vantage reported net income of $8.8 million, or $0.07 per share, as compared to a net loss of $47.4 million, or $0.78 per share, in 2008.

Analysts are very supportive of the company with three analysts rating the stock a “Buy” and two analysts rating it a “Strong Buy.” Average current estimates are that Vantage will generate revenues of approximately $222 million this year and $303 million in 2011. Earnings per share on the other hand vary greatly by opinion from -$0.06 to $0.20 for the current year and $0.14 to $0.34 next year.

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Delta Mutual, Inc. (DLTZ.OB) Acquires Huge Lithium Deposit in Argentina

Friday, April 30th, 2010

Delta Mutual, Inc., a company committed to increasing holdings in the energy sector; starting oil wells in Argentina’s Salta province near Güemes; and teaming up with major oil and gas firms in order to grow its sector footprint and asset production capacity, happily announced this morning the acquisition of a huge Lithium deposit which also contains other resources.

Lithium is a primary essential substance used in the manufacturing of long lasting batteries which see used in every industry, and in nearly every consumer product on the market, from cell phones to electric cars and solar cells, typically fetching a very good price as Lithium is relatively scarce and is considered by the industrialized world to be in short supply overall.

Quite a find then for DLTZ, which has affected – via an agreement with all interested parties – a 100% control position of the 350k-acre site in Argentina which, like the Company’s existing wells in North Guayatayoc, is located near a hugely successful lithium-potassium (Li-K) operation run by Dajin Resources Corp.

This operation, as a result of its similarities to the newly acquired site, leads DLTZ to understand it is now in possession of a truly world-class prospect. Furthermore, initial surface sampling conducted at various locations throughout the site, in addition to samples recovered from a small 12-meter well that was dug, clearly indicate abundant boron-potassium-lithium (B-K-Li) and its apparent relation to the existence of an ancient saltwater lake on the site.

The Company anticipates the existence of briny aquifers rich in the same elements found throughout the site, but will require a second look at seismic data (and probably some deep drilling afterwards) to prospect for the aquifers which represent a huge advantage of the site; namely, abundant water supply in conjunction with a geological system which continuously supplies the basin with the aforementioned elements.

Samples collected from different areas at 3 sites on the prospect generated the following data:

Casabindo River (currently utilized in a typical fashion by the locals for irrigation/consumption)
• Sample 1: 7.08ppm K, 0.56ppm Li
• Sample 2: 24.41ppm K, 0.15ppm Li

Maiden River
• Sample 1: 4.58ppm K, 0.01ppm Li
• Sample 2: 4.58ppm K, 0.01ppm Li

Aforementioned Well (hand-dug well used for human/animal consumption)
• 22.54ppm K, 0.15ppm Li and 253g/100mL of B

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Dussault Apparel, Inc. (DUSS.OB) Expands to Launch Online Store and Receives Additional Order from LIDS

Friday, April 30th, 2010

Dussault Apparel, Inc. announced yesterday that they have further developed their website to now include an online store. The web address for this new area is www.dussaultonlinestore.com. The store will feature the Dussault line of high-end apparel including custom designed hoodies, jewelry, t-shirts, hats and leather goods.

In the press release, Jason Dussault, CEO of Dussault, was quoted as saying, “In the territories we have a retail presence, the consumer response to our line has been terrific, I believe that this added consumer access to the line will be a significant driver of Dussault brand identity, additionally I believe it will greatly enhance our growth prospects.”

This online store announcement comes only six hours after Dussault issued a press release regarding a marketing success with retailer LIDS. LIDS, the primary retail brand of Hat World, Inc., a subsidiary of Genesco, Inc. (NYSE: GCO), purchased a test order of Dussault’s Deuce Collection brand of headwear in November of 2009 and recently followed-up with an additional order of Dussault’s “Camo” line.

Jason Dussault commented in the press release, “I am very pleased that our test order with LIDS was a success, and I have created the “Camo” collection specifically for LIDS and feel that it is one of my strongest pieces to date.” The 2010 Camo collection will be available exclusively at LIDS and sold at select retail locations throughout the United States and Canada.

Dussault Inc. is based in Vancouver, British Columbia, Canada. They have 62 million shares issued and outstanding. As of 12:31 EST today, shares of DUSS are trading at $.045.

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Pyramid Oil Co. (PDO) Reports Increased Revenue Even as Latest Horizontal Exploration Well Comes up Short

Friday, April 30th, 2010

As unfortunate as the recent oil drilling events in the Gulf of Mexico are, there are benefits for some established oil and natural gas development companies. These companies often find their fortunes rising and falling with the price of oil and natural gas. An investor that can find an oil and gas company which can meet demand as prices flux in the face of current events is one that will profit nicely if played correctly.

Pyramid Oil Company, an oil and natural gas exploration and development company, works to find and exploit crude oil resources in California, New York, Texas and Wyoming. The company has been in operation since 1909 and sells primarily to secondary crude oil refiners, pipeline and natural gas companies.

Perhaps the greatest benefit and detriment to the company being in operation for so long is its fully operational status. There is quite a bit of operational expense as new projects are developed and accounted for but overall price directs profitability. In the most recent reporting period, revenue increased to $971,000 from $878,000 in the same period 2008. There were certain production issues involved which reduced this revenue figure although overall they were not significant. To put these revenue figures into perspective, however, the increase in revenues reported during the period were based on $70.00 per barrel of oil. As that figure has since increased to a floating average of $85.00 per barrel, one can understand how increases in revenue might be affected.

As Pyramid Oil is an exploration and development company, the perspective investor also needs to balance the realities of price with the associated costs and success rates of exploration. Not all potential wells will yield desired results and cause a capital development decline. Overall, this is to be expected and be used as a part of the decision making process. The company, however, has been in this game for quite some time and understands how the process works. Add to this equation recent events in the Gulf of Mexico and the result becomes more positive for the company and its revenue projections in the nearer term.

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Visteon Corp. (VSTNQ.PK) Posts 43% Sales Increase in Q1 Financial Results

Friday, April 30th, 2010

Visteon Corp., an automotive systems, modules and components manufacturer, today posted its first-quarter 2010, reporting solid improvement over last year’s first quarter.

For the first quarter of 2010, Visteon reported total sales at $1.9 billion, including product sales of $1.85 billion and services revenue of $58 million, a 43-percent increase over last year’s first quarter. The company attributes the increase to higher production and new business wins, increased regional sales, as well as a boost from foreign currency.

Gross margin for the first quarter was $418 million compared with $45 million a year earlier.

Visteon reported net income for the first quarter of 2010 at $233 million, or $1.79 per share, compared to net income of $2 million, or 2 cents per share, in the same period a year ago.

Adjusted EBITDA for the first quarter was $161 million, compared with $22 million for the same period a year ago.

Donald J. Stebbins, chairman, CEO and president of Visteon, said combined influences gave a boost to first-quarter numbers and that the company remains optimistic it can continue to increase its customer and vehicle program base.

“Increased global vehicle production, combined with our ongoing operational improvements and cost-reduction efforts, drove our year-over-year financial improvement,” Stebbins stated in the press release. “We benefited from aggressive actions taken over the past year to keep our cost structure in line with significantly reduced global volumes. Although in the near term we remain concerned about European production volumes, we’re confident that our worldwide engineering and manufacturing footprint positions Visteon to support new global vehicle programs and grow with our customers around the world.”

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Aquentium, Inc. (AQNM.OB) Announces Global Distribution Opportunities

Friday, April 30th, 2010

One company that is quickly becoming a friend to the environment and investors on Wall Street is Aquentium. A diversified publicly traded company, Aquentium is dedicated to bringing energy saving solutions and technologies to U.S. and global companies. Today, Aquentium made the announcement that it will offer distribution opportunities of non-chemical sanitation and water treatment equipment for use in countries throughout Europe.

Aquentium will showcase their Ozone non-chemical sanitation and water treatment equipment which is designed to improve food and water safety standards both domestically and internationally. Ozone is generated from oxygen and is non-toxic. Ozone provides a high level of safety for humans since there are no chemicals to handle and is over 50% more effective and over 3,000 times faster acting than chemicals.

The goal at Aquentium is to help prevent contamination of water, fresh produce, seafood, poultry, meat and any other food product. With the Aquentium ozone process, the young company has the ability to purify water as well as extend the shelf life of food products without the use of chemicals.

Leading the way at Aquentium is Mark Taggatz who serves as the company’s CEO. Taggatz was quoted as saying, “We believe that Aquentium has superior technology to combat e-coli, salmonella, listeria and other bacteria or viruses for both food and water.”

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Universal Detection Technology (UNDT.OB) Inks Deal with EMG-911 SEC to Extend Market Reach

Friday, April 30th, 2010

Universal Detection Technology develops early-warning monitoring technologies designed to protect from bioterrorism and infectious health threats. The company has secured relationships with NASA and other Homeland Security-related entities and today announced its partnership with Emergency 911 Security Inc. (EMG-911 SEC), a full-service security and EMS Contractor.

EMG-911 SEC is within the 5 percent of government contractors awarded a small business determination 8(a), a designation that allows the federal government to sole source contracts. EMG-911 SEC is certified to receive sole source and limited contracts of up to $35.5 million dollars per year in sales.

UNDT said in the press release that it expects EMG-911 SEC’s SBA 8(a) standing to increase its market access and enterprise growth, awarding sole-source and limited-competition contracts over a nine-year period.

Jacques Tizabi, CEO of UNDT, said the deal with EMG-911 will increase awareness and accessibility to its detection and prevention technologies.

“Our partnership with Emergency 911 Security will allow government agencies in defense, EMS and first responder community greater access to UNDT’s bioweapons detection equipment,” Tizabi stated in the press release. “We look forward to building our relationship with EMG-911 SEC as they continue on their strategic growth plan aided by their unique government sole source and limited competition contract award.”

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Artfest International, Inc. (ARTS.OB) To Purchase Multi-Million Dollar Picasso Sculpture

Friday, April 30th, 2010

Artfest International, Inc. announced today that it has agreed to terms and will be purchasing an original Pablo Picasso sculpture titled “Rendering of Francoise Gilot” directly from the artist’s personal collection. Picasso, born in Spain in 1881, completed the wooden sixty-by-twenty-seven sculpture in 1949. Per the agreement, Artfest will pay $2.5 million in cash and issue 50 million warrants at $1 per share. Francoise Gilot was a staple in the collection of artwork by Picasso in the 1940s after the two met in Paris. The demand for original Picasso’s depicting Gilot has remained high to this day with prices ranging from $5 million to $150 million for the artworks. “Rendering of Francoise Gilot” was independently appraised by Eritas Fine Art Appraising and Consulting, LLC in February 2010. Their appraisal set the value between $50 and $70 million.

Artfest International has seen tremendous growth over the last year with an increase in revenues in excess of $2.2 million from the year ending 2009 as compared to the year ending 2008. This drastic increase in operating revenue is due in part to an increase in sales of art and sports memorabilia through the Company’s wholly owned subsidiary, Charity Sports Distributor (CSD), as well as through events held at Artfest International’s 52,000 square foot facility in Dallas, Texas, and direct sales activity through its ArtFest Direct, Inc. and Art Channel Galleries, Inc. subsidiaries.

Artfest’s business plan for 2010 includes several high-end purchase plans for artwork such as the Picasso piece with a long-term goal of uplisting from the bulletin board exchange. Edward Vakser, CEO of Artfest International, Inc. was quoted as stating in the press release, “The purchase of this original Picasso art piece will increase Artfest International’s asset base as we continue to meet the requirements of becoming listed on a higher exchange such as the NASDAQ or the AMEX.”

Artfest is also generating cash through an offering of shares of Artfest Direct. In a recent press release, Artfest International announced that all Artfest International Shareholders of Record as of April 15 will receive 1 share of Artfest Direct valued at $10 per share for every 1000 shares they own of Artfest International (ARTS) on the record date. The Company will be conducting an offering of Artfest Direct shares at $10.00 per share and Artfest Direct will be capitalized with 10 million shares outstanding. The Company’s goal is to raise $10 million for the acquisition of additional fine art and sports memorabilia which will be offered directly to the public. Artfest International will be announcing details for the complete spin off and Public Offering of Artfest Direct in the near future.

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Inergetics, Inc. (MBTG.OB) Lines Up Windmill Health Products for Worldwide Marketing of SurgexTM

Friday, April 30th, 2010

Inergetics Inc., formerly Millennium Biotechnologies Group Inc., and currently still trading under MBTG.OB, announced today that they have agreed in principle to have Windmill Health Products sell and market its SurgexTM nutritional supplement worldwide under a three year exclusive distributor relationship. Inergetics is a leading developer of nutritional supplements for the clinical health and sports supplement markets, and offers Surgex sports nutrition formula and Resurgex line of nutrition products for the assisted living community. Windmill Health Products LLC is a leading marketer and distributor of nutritional products.

Surgex is a clinically validated calorically dense nutritional formula, designed to improve athletic performance. It contains a proprietary blend of nutrients to increase peak power, improve endurance, accelerate recovery, and build lean muscle mass, while decreasing oxidative stress, inflammation, and cortisol. Surgex, used in the NBA, is NCAA compliant, and has passed the rigorous testing criteria established by the BSCG (Banned Substance Control Group).

Inergetics CEO, Mark Mirken, commented on the new distribution agreement. “There is no other sports nutritional product on the market today that contains Surgex’s patent-protected nutritional composition combined with the product’s published trials. With this distribution agreement in place, along with other developing opportunities, we project that our sports product line will penetrate 1% to 2% of the worldwide nutritional supplement markets by 2012.”

VP of Special Markets for Windmill Health Products, Rich Lauritano, added, “We have a timely and unique opportunity with Surgex and look forward to introducing this clinically validated brand here in the US and to the international markets. Inergetics’ current SurgexTM line allows athletes at all levels to train harder and therefore compete better; and their proprietary science will set them apart from all other products in their category. As they expand their brand with other products which are now in development and through Windmill Health Products LLC, the value of the Company’s sales and brand will grow exponentially.”

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Iconic Brands, Inc. (ICNB.OB) Video Chart for Friday, April 30, 2010

Friday, April 30th, 2010

ICNB should be on your watchlist for next week. The stock is just coming off a double bottom. Watch the video to find out what to look for as ICNB makes its move.

Please click the following link: http://www.qualitystocks.net/videocharts.php?chartvid_id=387

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Consorteum Holdings Inc. (CSRH.OB) Announces Appointment of New Vice President of Sales

Friday, April 30th, 2010

Consorteum Holdings, Inc. was pleased to announce yesterday that Mr. Reiner Vanooteghem joined the company as Vice President of Sales. Responsible for driving new and existing initiatives as well as managing the teams within Consorteum’s joint ventures, Mr. Vanooteghem will be accountable to the board for sales results on a quarterly basis.

Mr. Vanooteghem has accumulated a wealth of knowledge within the payments industry, from card manufacturing and personalization for prepaid debit cards to credit card processing. He has spent the majority of his career in domestic and international sales. While in the card manufacturing business, Mr. Vanooteghem successfully helped launch prepaid card programs in North America as well as Internationally. Most recently Mr. Vanooteghem has been successful in securing payment-processing clients throughout North America.

Fluent in German and French, Mr. Vanooteghem is also well suited to help develop and expand business growth in Europe, the UAE, and the Far East. Mr. Vanooteghem attended McMaster University and enjoys golfing, biking, boating, skiing and snowmobiling while residing just north of Toronto, Canada with his wife and daughter.

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Bergio International, Inc. (BRGO.OB) Expands to Europe

Friday, April 30th, 2010

Leading jeweler Bergio International, Inc. announced today that the company is working towards expanding in Europe, with its first retail site in Munich for the fourth quarter of 2010.

Bergio representatives commented that the completion of this store will aid in attracting more favorable candidates, strengthening its acquisition strategy and providing a model for future prospects.

Berge Abajian, CEO of Bergio International, Inc., commented, “I’m very excited about the prospect of our first flagship store and promise it to be a standard for future locations proposed in Milan and Zurich. Additionally, this should further deepen the brand domestically as well by making it an international jewelry organization.”

In an industry worth an estimated $160 billion dollars, Bergio currently sells jewelry to approximately 150 independent jewelry retailers across the United States. The company has manufacturing control over its line with a manufacturing facility in New Jersey as well as subcontracts with facilities in the United States and Italy.

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SOKO Fitness & Spa Group, Inc. (SOKF.OB) Announces Completion of Non-Brokered Private Placement Yielding Gross Proceeds of $10 Million

Friday, April 30th, 2010

SOKO Fitness & Spa Group, Inc. announced yesterday the completion of a non-brokered private placement of 3,125,000 shares of common stock at a purchase price of $3.20 per share. This yielded gross proceeds of $10 million to SOKO.

They made the offering to select institutional and accredited investors. These included two affiliates of IDG Capital Partners and existing investor Guerilla Capital and their affiliates. IDG Capital Partners is a China-focused investment firm. They have a strong record of accomplishment of providing capital for Chinese growth companies. Guerilla Capital Management and their affiliates are active China investors. There was no issuing of warrants to the investors in the offering, and there was no utilizing of a placement agent.

SOKO expects to use the proceeds of the offering to speed up their growth strategy. This includes the opening of new spa and fitness facilities and the pursuit of strategic acquisitions. The Company will also use the proceeds for general corporate purposes. With this financing, they now expect to open more facilities in calendar 2010 than their earlier guidance of seven to nine new facilities planned for this calendar year.

Tong Liu, Chief Executive Officer of SOKO Fitness & Spa Group, Inc., said, “We pursued this financing in order to accelerate the execution of our already aggressive growth plan. We are developing our business rapidly, but are still in the initial stages of our growth. This cash infusion, our first since going public two years ago, significantly augments our balance sheet and offers us the near-term flexibility to capitalize on strategic opportunities to develop and acquire additional facilities.”

Founded in 1992, SOKO Fitness & Spa Group, Inc. is an operator of fitness centers, beauty salons, and spas in Northeast China as well as suburban Beijing. The Company provides programs, services, and products together with exercise, education, and nutrition to help their members lead a healthy life and achieve their fitness goals. They have their corporate headquarters in Harbin, Heilongjiang Province, China.

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North State Bancorp (NSBC) Reports Lower Net Income and Decline in Asset Quality

Thursday, April 29th, 2010

North State Bancorp reported net income of $514,000, or $0.07 per diluted share, in the first quarter of 2010. The bank earned $833,000, or $0.11 per diluted share, in the first quarter of 2009.

North State Bancorp attributed the decline in earnings to an increase in the loan loss provision, higher premiums from the Federal Deposit Insurance Corporation (FDIC) for the bank insurance fund and higher expenses due to foreclosed real estate.

Larry D. Barbour, the CEO of North State Bancorp, said, “We are pleased to report positive earnings in a difficult economy, one that has as much uncertainty as any I have experienced in my thirty-eight year banking career. Despite the economy, North State Bank remains committed to expanding relationships with current customers, as well as pursuing new customers who seek a mutually beneficial banking relationship.”

North State Bancorp reported a large increase in the percentage of non-performing assets to total assets on a year over year basis. The bank had 3.13% of its total assets classified as non-performing as of 3/31/2010, compared to 1.27% as of 3/31/2009.

North State Bancorp is a bank holding company that owns North State Bank, a community bank in North Carolina with seven branches in Wake and New Hanover Counties. The bank had total assets of $701 million as of 3/31/2010.

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AeroCentury Corp. (ACY) Gets New Credit Facility

Thursday, April 29th, 2010

AeroCentury Corp. announced the signing of a $75 million credit facility with a consortium of banks led by Union Bank, N.A. The credit facility can be increased to $110 million and expires on 4/21/2010.

AeroCentury Corp. said that the company drew down part of the new facility to pay down the previous credit facility that was due to expire on 4/30/2010.

Neal Crispin, the President of AeroCentury Corp., said, “Given that conditions in the global capital markets are still extremely challenging, we believe it is a significant accomplishment to have closed this new facility. We are pleased to have Union Bank as our new agent bank.”

AeroCentury Corp reported net income of $5.6 million, or $3.62 per diluted share in 2009, up strongly from the $3.2 million, or $2.08 per diluted share, in 2008. The company also reported an increase in revenues, from $8.1 million in 2008, to $8.6 million in 2009.

AeroCentury provides leasing and financing of aircrafts and engines to its customers under a triple net leasing arrangement. The company specializes in regional passenger aircraft, courier and cargo operations.

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China Wi-Max Communications, Inc. (CHWM.OB) and Dragon Telecom International Agree to Contract Terms

Thursday, April 29th, 2010

China Wi-Max Communications, Inc. announced today that they have agreed to a wholesale carrier agreement with Dragon Telecom International, Ltd. of Hong Kong. The agreement gives CHWM access to 2.5 Gbps which can be expanded to 10Gbps and 100Gbps via dual fiber connection between Hong Kong and mainland China in the future.

China Wi-Max has been aggressively pursuing agreements to grow their ever-expanding fiber and wireless connections business in China and surrounding countries. Through expansion, companies in China, and outside of China, will be able to easily provide Private Line Services via International Carrier Meet Me Centers in Hong Kong to and from the following locations in China: Beijing, Shanghai Wuhan, Guangzhou, Shijiazhuang, Zhenzhou, Changsha, Tianjin, Jinan, Hefei, Nanjing, Suzhou, Xian, Chengdu, Chaongqing, Xuzhou.

Continuing with their goal to capitalize on the need for wireless and landline communication in China, China Wi-Fi announced on April 28th that they had formed a strategic alliance via a Letter of Intent (LOI) with ADVODA Communications. ADVODA partners with carriers and service providers to design telecommunication solutions from complex voice and data networks for global enterprises to voice and internet service for a single-location small business. ADVODA also supports a diverse group of independent telecom agents, network consultants and hardware vendors in providing services to its clients.

Steven Berman, China Wi-Max CEO and President, previously stated the following in an interview with regards to the business plans and their partnerships and growth in China, “China Wi-Max is positioned to take advantage of the dynamically growing broadband internet connectivity market in China, starting in Beijing and rolling out to a population segment of 100 million people in ten (10) target cities.”

China Wi-Fi, a developmental company based in Denver, Colorado, is a low-float company with only 6.39 million shares in the float. CHWM is currently trading at $.19 per share.

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Provectus Pharmaceuticals, Inc. (PVCT.OB) Moving Forward with Licensure of PV-10 for Metastatic Melanoma, Successfully Concludes End-of-Phase 2 FDA Meeting

Thursday, April 29th, 2010

Provectus Pharmaceuticals, Inc., a development-stage biopharma specialist creating innovative new therapies for the oncology (focused on melanoma) and dermatology markets, whose leading oncology agent, PV-10, is engineered to precisely target cancer cells without harming surrounding tissues while delimiting negative side effects, announced the holding of an end-of-Phase 2 meeting with the FDA regarding licensure endpoints and the potential clinical program scope of the Company’s metastatic melanoma formulation PV-10.

Held at White Oak Campus, the FDA’s site in Silver Spring, MD, with the essential goal of creating consensus relevant to extant clinical data as to how to proceed, the meeting offered an opportunity to vet the clinical applications of PV-10, which is a proprietary, injectable formulation of a 30-year old compound called Rose Bengal, used by ophthalmologists to evaluate damage to the eye.

CEO of PVCT, Craig Dees, Ph.D., was pleased to have this valuable opportunity to go over the data amassed thus far from Phase 1 and 2 studies with PV-10, and characterized the meeting as bearing fruitful results as per “definition of the pathway leading to licensure”.

Dr. Dees acknowledged the need for a second end-of-Phase 2 meeting in the months ahead, after having consulted with FDA officials, because the crucial Phase 3 randomized controlled study design must be both perfect and in accordance with requirements in order to qualify for Special Protocol Assessment (SPA).

Dr. Dees noted that the Company was indeed fortunate to be able to afford the kind of flexibility which allows them to consider either the conventional Phase 3 or an accelerated route to licensure. That is, while the Company considers Phase 3 SPA a rock-solid standard, considering the nature of the disease and data generated thus far on PV-10, the opportunity to achieve accelerated approval may also be advantageous.

Rose Bengal is a small molecule with a three-decade track record of proven safety, a short half-life in the blood, and the ability to be easily excreted by the liver and kidneys without inordinate strain to these organs. It was first selected by the Company when the substance was observed to have the capacity to selectively target cancer cells via chemoablation, killing them in a way that mimics both apoptosis and necrosis.

The Company has received FDA orphan drug designation for its leading melanoma indication, and is proceeding in Phase 2 trialing of PH-10, their leading dermatological topical treatment for atopic dermatitis and psoriasis, and has recently initiated Phase 1 of PV-10 for liver cancer.

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Cosi, Inc. (COSI) Sells 13 D.C. Restaurants to Franchisee

Thursday, April 29th, 2010

Cosi, Inc. recently announced the sale of 13 restaurants to Capitol C Restaurants LLC for $8.4M. The restaurants, located in the Washington D. C. market, will function under a franchise operation agreement signed by both parties, and Capitol C has also begun a development agreement for the opening of an additional 6 restaurants in the D.C. market.

Cosi operates a leading nationwide chain of premium convenience restaurants specializing in select foods based on a secret recipe for deliciously shattering-crust flatbread handed down through the generations. This artisan bread is baked in front of customers in prominently located stone hearth ovens, creating a warm and urbane atmosphere which attracts the largely sophisticated, upscale clients.

That $8.4M breaks down in the following way, in accordance with terms set forth in the Asset Purchase and Sale Agreement: $6.4M paid at closing; $1.4M pursuant to a 3-year note; and $0.6 held in escrow pending the satisfaction of specific conditions.

CEO of Capitol C, Richard Pawlowski, who has vast experience handling multiple-unit restaurants, commented on the unique and exciting opportunity with Cosi and praised their “delicious food, innovative menu and a great casual ambience” as a winning ticket to consumers’ hearts, and expressed his anticipation over working with Cosi to grow the brand and acquire more of the D.C. market with these welcoming, comfortable and eclectic restaurants.

President and CEO of COSI, James Hyatt, expressed his great pleasure over the deal, and at having someone of Pawlowski’s caliber join the team, because in the hectic and challenging restaurant business it is often such experiential knowledge which means the difference between success and failure.

Hyatt went on to extol the merits of Pawlowski, calling him a “seasoned operator and developer who fully understands the D. C. market”, saying Pawlowski aligned perfectly with the Company’s idea of a “perfect franchisee”, and noting that – as Cosi continues to operate a network of 11 company-owned locations in the greater D.C. area – the Company looks forward to working hand in hand with Pawlowski to grow the brand identity and extend market penetration in the D.C. area.

Hyatt characterized this transaction as a skilled, strategic move, consistent with the overarching goal of assembling an efficient group of experienced operators with proven abilities, who can seize the opportunity, when presented, by identifying premier growth areas and execute development of successful restaurants.

Hyatt also made a point of noting that the transaction is confirmation of the Company’s ability to attract the finest quality franchisees, which reinforces confidence in the growth potential of the brand and provides essential working capital that can be used to stimulate revenue growth and drive shareholder value to new heights.

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HST Global, Inc. (HSTC.OB) Announces Formalization of Protocol Licensing for International Partnerships

Thursday, April 29th, 2010

HST Global Inc. is an integrated biotechnology health and wellness company that is developing and/or acquiring a network of wellness centers worldwide. The wellness centers will be primarily focused on the immunotherapy and alternative treatment of late stage cancer.

The company today announced that it has finalized the formal licensing model that will be used by its international partners in the development of its clinical treatment facilities worldwide. As previously announced, HST Global has partnered with Health Matters International (HMI), a Canadian company that has vast international knowledge in the healthcare industry.

Through this association, HMI identified Panama and Costa Rica as potential countries for the development of HST’s clinical treatment facilities. Licensing fees will range between $250,000 and $500,000 and will be measured against the “drawing” population of the location. While other factors will be involved in each individual country such as demographic data and economic circumstances, the fee will incorporate training, initial products and on-site development for each respective team. In addition, HST will be paid a royalty amount for each application of the company’s protocol.

The CFO of HST Global, Wes Tate, stated: “It is exciting to see the results of the efforts required to transition HST from a development stage company to a revenue producing endeavor. The company has spent the past several months grooming relationships, investing in research and development, and implementation of our overall strategic plan. With the finalization of our worldwide licensing model, we will commence the next phase of our strategy via international growth.”

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Shrink Nanotechnologies, Inc. (INKN.OB) Launches NanoShrink Technology for Biological, Biomechanical and Alternative Energy Industries

Thursday, April 29th, 2010

Shrink Nanotechnologies Inc., a provider of materials, technology and manufacturing solutions, today announced the launch of its proprietary advanced shrinkable plastic material, to be branded under NanoShrink™.

The company owns exclusive licensing rights to several patent-pending technologies based on its proprietary manufacturing process, which will all be based, designed and deployed on its NanoShrink material.

As the name suggests, NanoShrink material naturally “shrinks” during heating, enabling complex structures to be designed at a macro-level, and then to be reduced with the same integrity and stability on a micro- or nano-scale for use in a broad range of industries.

“NanoShrink has been designed with a flexible multi-format architecture for use in the biological, biomechanical and alterative energy generation (solar) industries — with the assistance of our award-winning scientific founder Dr. Michelle Khine,” Mark L. Baum, CEO of Shrink Nanotechnologies stated in the press release.

Baum said Dr. Khine’s inventions have garnered attention in both academia and industry, and have resulted in what he calls a major breakthrough, eliminating the need for clean rooms and specific requirements needed to design devices that function at the nano scale.

“Prior to the introduction of NanoShrink, the equipment used to create the tiniest of microfluidic chips, for example, which are also known as ‘labs on a chip’ were extremely cost prohibitive. Production took days to complete and required a sterile environment. Our vision is for NanoShrink to help scientists and doctors to develop experiments and diagnostic tests to screen drugs in the drug discovery process and to assist in the identification of conditions like cancer and other infectious diseases,” he continued.
Shrink Nanotechnologies is currently seeking opportunities to get its NanoShrink products into the marketplace through strategic partnerships.

“We are now in the process of commercializing our numerous patent-pending NanoShrink-based product designs by establishing relationships with major industry players, leading academic researchers and global manufacturers in order to address each of our large and growing global markets,” Baum added.

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Commerce National Bank (CNBF.OB) Posts Q1 Results

Thursday, April 29th, 2010

Community business bank Commerce National Bank today posted its financial results for the first quarter ended March 31, 2010.

The bank reported a net profit of $9,000, or $0.00 per diluted share, compared to a net loss of $152,000, or ($0.06) per diluted share, for the quarter ended March 31, 2009.

Like many other banking executives commenting on quarterly results, president and CEO Mark E. Simmons said overall financial worries affected the bank, though commercial loans and business deposits remain solid.

“While the current economic conditions are still depressed from normal levels, our bank is experiencing some growth in commercial loans and the growth in core business deposits is very positive. The small profit was after expensing a loan loss provision for the quarter of $375,000,” Simmons stated in the press release.

As of March 31, 2020, the bank reported an increase in total assets, up $19.7 million, or 8.8 percent, to $242.6 million from $222.9 million at March 31, 2009.

Net loans for the quarter decreased $9.3 million, or 6.8 percent, to $126.3 million from $135.6 million at March 31, 2009. Total deposits increased $33.1 million, or 19.9 percent, to $199.2 million at March 31, 2010, compared to $166.1 million at March 31, 2009.

Total equity decreased $6.3 million, or 18.9 percent, to $27.3 million at March 31, 2010, compared to $33.7 million for the same quarter of 2009. The bank attributes the reduction primarily to the redemption in the fourth quarter of 2009 of the preferred stock that had been issued under the terms of the U.S. Treasury’s Capital Purchase Program.

The bank also reported that it remains well-capitalized, with a Tier 1 Capital to Average Assets ratio of 11.1 percent at the quarter end.

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Vision Industries Corp.’s (VIIC.OB) Tyrano and ZETT Break New Ground

Thursday, April 29th, 2010

One company that is on the rise is the Vision Industries Corporation. Located in Los Angeles, California, Vision is a developer of zero emission electric/hybrid powered vehicles and turnkey hydrogen fueling systems. Today, Vision took a major step towards enhancing their future with the announcement that two of their products have obtained a U.S. Department of Energy Listing.

Vision’s Tyrano is a zero emission Class 8 electric hybrid 80,000 lb GVWR truck that is designed for local and regional drayage. The Tyrano has broken new ground because it is the world’s first street legal, zero emission, electric/hydrogen truck.

Along with the Tyrano is the Zero Emission Terminal Tractor (ZETT). The ZETT is a zero emission, electric/hydrogen hybrid, 130,000 LB. GVWR terminal tractor. Vision has joined forces with Capacity of Texas to jointly develop the ZETT. Capacity of Texas brings a great deal of credibility to Vision because they are the largest manufacturers of terminal tractors in the U.S.

Leading the way at Vision is Martin Schuermann who serves as the company’s President and CEO. Schuermann was quoted as saying, “A very large segment of our potential market does not even know that commercially viable, zero emission, heavy duty transport solutions are available in today’s marketplace. Listing with the U.S. Department of Energy not only validates our hybrid technology, but can bring much greater awareness of our products to the U.S. truck buyers. We continue to build relationships and market our vehicles to fleet operators all of which should make for an exciting 2010.”

Currently, Vision is trading in the $0.25 range. To learn more about the Tyrano, the ZETT or about the company as a whole, visit Vision’s website at: www.visionindustriescorp.com and you’ll see why so many people are talking about this up-and-coming company.

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Green Energy Live, Inc. (GELV.OB) Extends Letter of Intent to Acquire Peck Electric

Thursday, April 29th, 2010

Green Energy Live Inc. is developing sustainable biomass-to-energy conversion technology to meet a critical need for the nation’s $154 billion livestock industry. The company plans to use its proprietary gasification technology for the development of highly innovative, on-site manure-to-electricity conversion systems.

The company today announced that it is continuing to move forward with its acquisition of Peck Electric. On April 28, 2010 Green Energy updated its letter of intent to acquire 100% of the stock in Peck Electric, an established provider of electrical contracting services which generated $6 million in gross revenue in 2009. The new updated letter contemplates closing the purchase by June 15, 2010 instead of April 25, 2010.

Peck provides commercial and residential electrical contracting, installs telecommunications systems, provides solar power installations, and designs and develops clean energy products. The company’s roster of major customers include: IBM, UPS, Energizer Battery Company and Ben & Jerry’s. The pre-acquisition audit of Peck for Green Energy is expected to be completed in late May.

The president and CEO of Green Energy Live, Karen Clark, commented on the proposed acquisition. She said, “Green Energy Live chose Peck Electric for its excellent management team, extensive systems design and development expertise, ongoing revenue and exciting new clean energy product development. Peck Electric brings several critical components to Green Energy Live that will allow us to offer clean energy solutions in the marketplace.”

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