Value Microcaps Table Pounders

[SAMNOTSAMUEL]

thanks cleverrox eom

[MikeDDKing]

Cell phone sales in general are strongest in Q4. So, I would expect as ZAGG matures their Q4 numbers will be strongest. However, at this time I don't think we can say that because of the huge growth rate they are experiencing.

Mike

[cleverrox]

ZAGG seasonality. I think ZAGG seasonality will revolve more around the introduction of new iPods and iPhones than the time of year. That said I expect 4Q and 1Q are probably slightly stronger all other things being equal. The 200% growth rate really obscures seasonality.

ZAGG would have almost 25M shares outstanding if all warrants and options were exercised per the CFO. That is higher than the 19M used in computing EPS.

[SAMNOTSAMUEL]

Cleverrox,

Is ZAGG heavily seasonal? If so, one would have to take in the last qtr to better annualize, right?

sam

[cleverrox]

ZAGG DD. - Make clear, military grade scratch proof covers for 2500 phones, laptops, cameras, etc.

Highlights: IMO you will see over $5M revenue from ZAGG this quarter and possibly as high as $7.5M. EPS of $0.03 to $0.07 for 3Q reporting mid-November.

As indicated in link #1 iPhone 3G sales in the U.S. are estimated to be 3M this quarter. ZAGG sold 100,000 iShields for the first 1,000,000 iPhones. If the penetration rate drops from 10% to 8% on 3M that will be 240,000 iShields. At $20 a pop that is $4.8M revenue on the iPhone 3G alone. Best Buy according to anecdotes is selling about 5 a day iShields at each of their 300 stores carrying it. That is another 135,000 iShields a quarter for $10 a piece for another $1.1M revenue. Add in another $2M revenue for the rest of their product line and you could hit around $7M. I won't even figure in sales from the mall kiosks - but I think those could be even bigger than Best Buy. I especially like them because they solve a big product problem - ease of application. I would gladly pay someone $10 to apply the thing professionally.

I roughly estimate they could earn $0.03 to $0.07 EPS fully taxed on $5M to $7.5M revenue this quarter. Give it a FW P/E of 20 like ZYNX and you get maybe $2.40 to $5.60 a share. I would argue this company is "sexy" and could get a P/E premium.

I have studied the products of competitors and the biggest competitor is Clearshield. Their product is glossier for smoother finger movements across the iPhone. However it tends to come off easier than the iShield which is probably why they ship 3 packs. Some people have said Clearshield's newer shields are not of the quality they were a year ago - like the formulation has changed.

The criticisms of iShield are that it is hard to apply properly and can leave enough space at the edges for lint to accumulate on the edges. It is also pricey - though I think compared to replacement cost of say an iPhone it is a no-brainer.

To me what is very exciting is the next two quarters are almost certainly going to be huge. The CEO predicts between $8M - $10M revenue the next two quarters with a good possibility of upside. I've heard they have been very conservative on projections so I'm going to say they will almost certainly hit $5M revenue each of the next two quarters.

My big concern is whether they can lower SG&A percentage as revenue ramps up. I expect they can. If they can't control costs - EPS will be abysmal even with higher revenue.

The CEO owns 38% of outstanding shares. They are now cash flow positive so I expect few additional shares to be issued. I couldn't find any unconverted outstanding debt - though I haven't been thorough. I have an enquiry with the CFO outstanding. They seem to file on time with the SEC.

An AMEX listing should boost visibility and fund ownership. I think it will happen as soon as they meet the qualifications. Probably would need $2.50 share to make it happen.

Link #1: http://money.cnn.com/news/newsfeeds/articles/apwire/148fa85a98767e861feceda1164a231c.htm

[cleverrox]

Table pounding ZAGG - $1.09 - DD to follow.

[littlefish]

I went thru the BOD and was reading their profiles. Seems like they have a big BOD but it didn't seem all that packed with star power. Not great, not bad.
There's the one professor Mr Smith.
The rest seem kinda hodge-podge family farming biz or similar biz-related background, maybe the occassional Masters degree.
Looked luke-warm to me. But I haven't looked at/listened to the CC.
With the recent sale, I would want to see another Q or two of results post-asset sale to get a comfort feel for them though. That's just me.

Good luck.

PS- maybe if we keep posting here the mod will do a cameo apearance to show up and delete our off-topic posts!

Say, I could put something up that would definitely get SOMEONE'S attention LOL.
Nah, I don't want to get banned from I-Hub:)
Too valuable an info source to take the risk...



I don't mind stealing bread from the mouths of decadence... But I can't feed on the powerless when my cup's already overfilled.
-Temple of the Dog


"We didn't build this company on the sniff of an oily rag."
-Anonymous

[littlefish]

Thanx KiK, I'll have to look closer at them and wait for the 10Q to see what it shows.

[Knowledge is King]

The best part of the INMG CC


was that the company hopes to expand their product line into the fruits/vegetables industries...obviously a huge market. I view the stock as the proverbial "groung floor opportunity" now that they have just turned profitable and restructured the balance sheet. You should go on their website imiglobal.com and noodle around; I particularly liked the CNBC report from March that they provide a link to. Plus, if you read the biographies of their board of directors, they appear to have some impressive industry backgrounds that will aid the company's growth going forward.

[littlefish]

LOL. He's a busy guy these days so the board update info stuff probably gets moved back a bit...

I made AYSI under $2 my 3rd tablepounder but it aint up in the box yet. Still not sure what price MXC was frozen at but it was ridiculously lucky. Wish I could get 2 more of those:)

BTW, what was your take on INMG's report and did you here the CC (I missed it)? I saw the revs for the latest Q were only about 25% comprised of the assets sold so they looked to be stagnant anyways as far as revs growth component.
And if they only do $200K revs per Q with those assets, I would think getting over $2 mill for them aint so bad. Not sure of the margins.
I am not a fan though of earnings reports without the specific 10Q financials... And couldn't find the specific effects the asset sale had on the balance sheet.

Maybe he's still hung over from INX.V. That was a bit of bummer.






I don't mind stealing bread from the mouths of decadence... But I can't feed on the powerless when my cup's already overfilled.
-Temple of the Dog


"We didn't build this company on the sniff of an oily rag."
-Anonymous

[Knowledge is King]

I'm pounding the table...


in an attempt to wake up the moderator! How about an update...:)

[littlefish]

'Bigs' I mean institutionals (you can read my last post and see what I mean). Institutionals have more $ than BW and 10bagger (and all us little fish by a long shot LOL).

[cleverrox]

Well fish - soon we AYSI holders will be the "bigs". I don't know who you are referring to as the bigs - but I'm guessing Bobwins and 10bagger.

[arnie70]

This is the company with the OIL SEEPS, about to start drilling.
TABLE POUNDER


Nordic Oil and Gas Signs Contract for Drilling Rig; Rig to be on Site at Preeceville Today
WINNIPEG, May 26 /CNW/ - Donald Benson, Chairman and Chief Executive
Officer of Nordic Oil and Gas Ltd. ("Nordic" or the "Corporation"), announces
that the Corporation has signed a contract with a drilling company to commence
drilling the first of two wells on Nordic's Preeceville, Saskatchewan
property. Transportation of the rig began early this morning and it should be
at the first well site by midday.
Weather permitting, the first well will be spud either late today or on
Tuesday, May 27. As stated previously, it is expected that drilling will take
between four and five days to complete. The rig will then be moved to the
second site, where clearing and preparation is now being completed.
"We have secured one of the best rigs available as we intend to drill to
the basement, which is about 1,200 metres in depth," Mr. Benson stated.
"Again, weather permitting, we should have both wells drilled by June 9,
2008."

About Nordic Oil and Gas Ltd.

Nordic Oil and Gas Ltd. is a junior oil and gas company engaged in the
exploration and development of oil, natural gas and Coal Bed Methane in
Alberta and Saskatchewan. The Corporation is listed on the TSX Venture
Exchange and trades under the symbol NOG.

The TSX Venture Exchange has not reviewed nor accepts responsibility for
the adequacy or accuracy of the contents of this News Release.

[littlefish]

There's gotta be a day coming when someone with deep pockets says 'Enough is enough, I need to become a large stakeholder here: They have the best alloy clad overlay wear plate in the market, they have an untapped market out there in front of them, they have great discipline financially, why am I not in this?'
And then we finally get our first institutional holder or 5% holder... It will happen, just a matter of when. but until that day I think we still have a ways to go.
I'm roughly guessing they can do $100+ mill in revs in a few years once they get a place for expansion set up, based on the size of the market and the acceptance their prooduct ahs by customers.
Ya, ya, some out there think I'm crazy I know throwing out those #s but we'll see. Give it about 3 years and we can revisit this. Personally I think AYSI is a much better bet than anything else out there. It could ahve several of us retiring as long as we stay stubborn holding onto our shares IMO.
And I love the fact this is developing with time and not doing the moonshot MXC in 2 months thing. Although now that we have a pile of dedicated shareholders onboard, I'd be OK with a moonshot now:) Just takes a large group of stubborn shareholders NOT SELLING and maybe one or two big investors stepping in finally.
I'm surprised a bit that the bigs are still laying low on this company. They are poo pooing IMO one of the best Warren Buffett/Peter Lynch style microcaps out there.
There are probably other companies out there but I don't see any of them currently. Just Alloy...
Good luck. Let's see, that would mean $2 for AYSI I think and $27.90 for MXC on the tablepounders board.
It was fun selling some MXC at over $50, a few times:) My wife had me hold every share in her acct until it hit the high $40s. Then she had me unload from $48s to $54.98. That was cool LOL. Except all taxable! Ouch...
But boy what a year it has been and we're still a ways away form half way. And I'm 50% cash for one of the first times ever in my investing career. I want to be safe, cautious, and patient. I think AYSI is about 40% of my port so you can tell how meaningless all other holdings have become.

I agree with Buffett and disagree with a lot of the VMC crowd. If you feel you know when somehting is an easy pick then feel free to bet big. Just make sure you know what you're doing, that you clearly undertsand all aspects of the company including management and their style, and keep a close eye on things.

It aint all that hard once you find them. The problem is FINDING THEM! At least finding the ones where you feel darned certain it is going up. Potentially up a bunch. That's AYSI for me even now after the move from $0.4s to $2s (a 5 bagger headed for 10-20+ bagger potentially IMO probably over the next few years).

It is too bad there are so few companies that have that crystal clarity.

[gilead23]

I'll give you the closing price on the day you did it

I really just need to update these. It always seems to be my last priority. Sent an email to the bowser report this weekend suggesting they take a look at AYSI. Its their kind of stock if ever there was one.

Doesn't look like Gene is going to spread the word so I guess I have to help him where I can.

As far as MXC there comes a point where the exact price doesn't matter. 27.90? 22? 55? All very good numbers.

[littlefish]

LOL gilead I agree with the description but stick by what I said too as far as contribute at least in part.

Now, as far as AYSI what price you gonna give me for my 3rd tablepounder?

I'm assuming you would freeze MXC at the close of the first trading day after I said I wanted to freeze it? Or how do you tabulate... That would mean the day I pounded AYSI was a closing price about $2 I think and MXC close of $27.90 I think (LOL working things to my advantage for price with MXC since I posted freeze on the weekend;) ).

AYSI is getting me pumped up again. Feels good in the morning!!!

[nowayout]

ETLT pe 3.4, EPS .14 ,52Million OS.
Will see new high in the $1.50+ range, only .49 now....

[cleverrox]

Table pounding SRRY. Undervalued at $0.49 compared to EPS of $0.04 last quarter. They didn't pay full taxes last quarter so I expect $0.04 will be hard to repeat for a while. Great growth potential and their revenue goes up as oil goes up because the plastic recyclables become worth more.

[littlefish]

OK, AYSI is my next tablepounder gilead. I defintiely want to freeze that freight train MXC LOL. Just sold some more at $43.73! Awesome.

AYSI I did some figuring on how much biz the FMG expansion will have after they open more mines (and this is JUST FMG I'm talking about here). They only have one mine operating right now, but have 12 more that could potentially come online in the next few years. I think it is safe to guesstimate a couple a year and we can see what juts the one mine has done in sales for the comapny. It may make for some lumps in results, but it is becoming clearer now to me after tlaking to a coupel people that the company continues to struggle to supply the people that want the product. This to me is a loud shout to us that the growth is nowehre near finishing and is just continuing its momentum.

The fwd PE currently of under 10 when I think this comapny will do much better next year is almost a joke. I have been buying some more last couple days and will continue to buy under $2.

So it is official. My 3rd tablepounder call will be AYSI under $2. I htink we'll see AYSI take off as well but probably not until starting late in the year andgoign through 2009. I am strating to visualize potnetially $10. I know i said that a long time ago when it was $0.4s and peopel probably rolled their eyes. But I sat down and tried to figure out the revs they can egenrate just off the 2 mills and the amount of biz they should get from their major customers and I still think they will struggle to keep up. This next Q might be a bit slower but it won't last long and it might NOT be weak at all. I stil lthink they'll have a good chance to do as wel las this last Q on the revs side.

Of course the typical blah blah about no dilution, no LT debt, AWESOME CEO, etc...

That's it:) Good luck.

[gilead23]

I will update these tonight guys

Apologies for my laziness

[cleverrox]

Agreed. I made maybe 10% to 15% on it but there could have been much better investments for my money so there was opportunity cost.

[nsomniyak]

sometimes the table hurts your hand when you pound it...

[cleverrox]

ZYNX. Close out table pounder ZYNX. Not executing.

[littlefish]

Gilead, just want to go on record that I want to freeze my table pounder (or tell people to sell) since MXC has run way ahead of its valuation IMO, as the whole sector has suddenly become a darling of Wall St.

I would wait to see what we see in the June report or else get specific clarity on the Tarrant Cty wells before looking at it again unless it gets back to maybe the $12 range with the current known news.

Didn't want people thinking I was still pounding on this when it is at almost $20. I'd be telling people to sell at least a good chunk and maybe save just a little to enjoy the momo rush. Could come down pretty hard pretty fast, but who knows how high it goes before then.

For now though, FREEZE that MXC.

PS- AYSI looks pretty good at current levels but not a tablepounder. I'm trying to work on some new info to get more confidence with it. Not sure how much impact the near completion of FMG's startup rampup will have near term. That July report from FMG will help us see the future a bit better IMO and could spur more buying by me if we're in this level and FMG announces aggressive near term continued expansion. I might even go to pounding again... But not yet.

[Ovidius]

In observing your prior 'table pounders', you go from table pounder to sell in a blink of the eye. A rather dangerous formula for anyone who does not sit at the computer during market hours.

[MikeDDKing]

My latest table pounder is ALIF. Please give this table pounder a 12 month duration.

They are a provider of software for cell phones (mainly games) that is growing like a weed. They have had 1026% organic revenue growth from Q1'07 to Q1'08. They made $0.053/share in Q1 and last traded at $2.40 so they are undervalued IMO. They are guiding for continued growth, are rolling out many new games, and have some high profile relationships. More DD is located below:

ALIF Board
http://investorshub.advfn.com/boards/board.asp?board_id=12627



Overview
Artificial Life, Inc. is a leading global full service provider of award winning cell phone technology, cell phone TV, content, games and business applications.

Web Site
http://www.artificial-life.com

Commerce Portal
http://www.botme.com

Sample Cell Phone Games




Historical Financial Infomation

Quarter       Revenue     Net Income   Diluted EPS 
 Q1'08       $4,118,377    $2,493,585     $0.053 
 Q4'07       $3,116,754    $2,199,996     $0.049 
 Q3'07       $1,611,704       $28,478     $0.000 
 Q2'07         $707,066     -$684,613    -$0.020 
 Q1'07         $365,688     -$532,044    -$0.016

Investment Thesis
1. Explosive Revenue & Earnings Growth - The company has rapidly grown revenue and earnings over the past several quarters. Q1'08 revenue grew 1026% over Q1'07 and the growth was organic! They are guiding for growth to continue. "We continued our global expansion in Q1, 2008 and expect further growth for the remainder of the fiscal year 2008. We will extend our global sales channel network and client reach by forming more reseller and operator partnerships as well as by releasing new products and extending our successful activities in the area of mobile business applications," said Eberhard Schoneburg, CEO of Artificial Life, Inc. in the Q1 press release. http://investorshub.advfn.com/boards/read_msg.asp?message_id=29367320
2. Rapidly Growing Industry - Gaming for cell phones is growing rapidly. It was $3B in 2006 and is forcasted to be $10.5B in 2009 and 17.5B by 2011. This is a huge industry to service. http://investorshub.advfn.com/boards/read_msg.asp?message_id=29368476
3. Recent Launch of Many New Games Will Drive Revenue and Earnings Growth - Games released since mid November include: Chips Unlimited, 15 Japanese games, Tokio Hotel, America's Next Top Model™ 10, and Germany's Next Topmodel.
4. Relationships - They have relationships with major media companies such as Warner Brothers, Paramount Digital Entertainment and Cartoon Network. In these relationships they are making or made products based upon the company's films or TV shows (e.g. Braveheart). They also have relationships with famous people such as Soccer Star Leo Messi, Vitali and Wladimir Kitschko, and the Tokio Hotel band to make games based upon their images and likeness. - http://investorshub.advfn.com/boards/read_msg.asp?message_id=29368238
5. High PE Industry - Stocks in rapidly growing industries like this typically attract high PEs. Right now, however, the PE is low.

ALIF FAQ/Backgrounder - REQUIRED READING
http://www.artificial-life.com/alife/images/pdf/ALIFFact.pdf

Recent Press Releases
05/08/08 - ARTIFICIAL LIFE IS "BUSTIN' BALLS™" SOON - http://investorshub.advfn.com/boards/read_msg.asp?message_id=29370702
04/30/08 - PARAMOUNT MOBILE ENTERTAINMENT & ARTIFICIAL LIFE TO CO-DISTRIBUTE MOBILE GAME GLOBALLY - http://investorshub.advfn.com/boards/read_msg.asp?message_id=29370744
04/14/08 - ARTIFICIAL LIFE SIGNS LICENSE DEAL WITH FAMOUS GERMAN SOCCER CLUB: FC BAYERN MUNICH - http://investorshub.advfn.com/boards/read_msg.asp?message_id=29370816
04/08/08 - ARTIFICIAL LIFE SIGNS EXCLUSIVE LICENSE DEAL WITH WORLD BOXING CHAMPIONS KLITSCHKO - http://investorshub.advfn.com/boards/read_msg.asp?message_id=29370841
03/10/08 - Artificial Life, Inc. Announces iPhone and iPod Touch Games - http://investorshub.advfn.com/boards/read_msg.asp?message_id=29370916
03/03/08 - Artificial Life, Inc. Brings "Germany's Next Topmodel" to Mobile Extension of Contract from SevenOne Intermedia GmbH - http://investorshub.advfn.com/boards/read_msg.asp?message_id=29370956
02/21/08 - Artificial Life, Inc. Launches America's Next Top Model™ 10 Mobile Game - http://investorshub.advfn.com/boards/read_msg.asp?message_id=29370982
02/20/08 - Artificial Life, Inc. Inks Distribution Agreement with Thumbplay Further Expands US Distribution Channels - http://investorshub.advfn.com/boards/read_msg.asp?message_id=29371016
02/01/08 - Artificial Life, Inc. Revamps botme.com Better and Faster Access with More Games Offered - http://investorshub.advfn.com/boards/read_msg.asp?message_id=29371048
01/24/08 - Artificial Life, Inc. Wins Contract from Cartoon Network - http://investorshub.advfn.com/boards/read_msg.asp?message_id=29371078
01/23/08 - Artificial Life, Inc. Partners with PlayPhone for US, Canada Distribution - http://investorshub.advfn.com/boards/read_msg.asp?message_id=29371112
01/08/08 - Artificial Life, Inc. Releases the First Official "Tokio Hotel" Mobile Game -http://investorshub.advfn.com/boards/read_msg.asp?message_id=29371129

Financial Press Releases
Q1'08 Report - Artificial Life, Inc. Announces iPhone and iPod Touch Games - http://investorshub.advfn.com/boards/read_msg.asp?message_id=29367320
Q4'07 Report - http://investorshub.advfn.com/boards/read_msg.asp?message_id=29367193

[10 bagger]

ALJJ.. Table pounder.. hank

[Knowledge is King]

A-turd is out of control...

with respect to these trading restrictions! But until they lose alot more busine$$ because of it, I'm sure they won't give a damn. As of ATC specifically, I can't imagine what about this old-fashioned, basic Midwestern company A-turd finds worrisome.

[Stockcracker]

Knowledge re:ATC

I saw you posted on ATC on another board. I tried to place an online order for ATC and it wouldn't go thru. I sent an email to TD Ameritrade and asked why and here is their response:

TD AMERITRADE has made the business decision to not allow opening transactions on this security online. While we cannot go into the specific reasons for this restriction, we strongly believe it's in the best interests of our clients and our firm. You can still place closing transactions online and opening transactions with a broker at the number below. The broker will be able to give you the online rate.

I wonder what's going on with this security?

[Knowledge is King]

ENTX reports $.04 vs nil, revs up 91% to $8.6M


The financials filed in ENTX's 3/08 10-Q (Friday morning) continue to support my assertion that this one is stunningly undervalued, even after Friday's price bump.

ENTX logged Q1 revenues of $8.6M vs $4.5M, operating income of $.06/share (vs nil), and EPS of $.04 (which reflects a $.02 impairment charge on available-for-sale securities). Of particular note was "net cash provided by operating activities" which soared 5-fold to $1.23M or $.16/share!

At Friday's closing price of $.30, ENTX trades: below cash-per-share of $.34; way below book-value-per-share of $.89; and at a P/E of 2.5 based on 12-month trailing EPS of $.12.

Also noteworthy in the 10-Q was the revelation that shareholders did not approve a 1-for-500, 500-for-1 reverse/forward split plan. I view this as a minor positive as some may have viewed the plan as a step toward deregistration.

Needless to say, I continue to "pound the table" on ENTX.

[10 bagger]

Table Pounde TGC...

TGC.... AMEX..

Home Page:http://www.tengasco.com/

Profile..
Tengasco, Inc. engages in the exploration, production, and transportation of oil and natural gas in Kansas and Tennessee. The company also leases producing and non-producing properties, as well as owns pipeline and other infrastructure facilities to provide transportation services. It owns interests in 143 producing oil wells in the vicinity of Hays, Kansas; and 23 natural gas wells in the Swan Creek Field, Tennessee. The company markets its crude oil to refining companies, utilities, and private industry end-users; and natural gas to utilities, private industry end-users, and natural gas marketing companies. Tengasco was founded as Gold Deposit Mining & Milling Company in 1916 and changed its name to Onasco Companies, Inc. Further, it changed its name to Tengasco, Inc. in 1995. The company is based in Knoxville, Tennessee.

Yahoo Key Statistics: http://finance.yahoo.com/q/ks?s=TGC

Press Releases: http://www.tengasco.com/press_releases.shtml
Press Releases: http://finance.yahoo.com/q?s=TGC

Latest Qtr. report:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=29079706


============================================
My back of the napkin thoughts..

Net cash provided from operation were..
2005... $2,113,000
2006... $4,353,000
2007... $3,446,000 2007 includes 1,200,000 in expenses for work over of wells..

Reserves went from $26,627.00 in 2006 to $53,627,000 to $53,627,000 in 2007..

Net income:
2005 $1,088,000
2006 $2,141,000
2007 $1,410,000 + $2,100.00 from a tax credit.. Wells in Kansas where shut down in 2007 for an extended period due to ice conditions and the loss of electric power.. No damage was created to any equipment or wells..

Average Oil prices: Oil is purchased at wellhead by a gathering company at current price postings less 4% and payments are current for such sales..
2006 Average price recieved..$60.84
2007 Average price recieved..$66.42

**Gas prices received for sales of gas from the Swan Creek Field averaged $6.86 per Mcf in 2007, $7.27 per Mcf in 2006 and $8.74 per Mcf in 2005. Oil prices received for sales of oil from the Swan Creek field averaged $64.81 per barrel in 2007, and $60.39 per barrel in 2006, and. $53.90 per barrel in 2005.

***The Company realized revenues of $9,368,624 in 2007 compared to $9,001,681 in 2006 and compared to $7,172,876 in 2005. Revenues increased $366,943 from 2006 due primarily to an increase in oil prices in Kansas;

2007 Sales and earnings adjustments for 2008..

$9,368,624.00 revenues in 2007..
Earnings before Tax credits...2007 $1,410,000...
Add $800,000.00 in non recurring work over wells maintainence..
Add $1,200,000 in increased production from well programs..
Add $150.000 pickup for storm shutdowns..
Add $80,000 for increased Ngas prices recieved...
Total: $2,230,000 X .66 To account for taxes and Depletion = $1,471,000...

Total Earnings in 2008 should be at $66.42 with an oil Ave. of..$2,881,000Earnings added after after taxes and depletion.. after (T&D)$0.487 PS..
Oil @$79.70 Add $1,236,000 after (T&D) $4,117,000 $0.0696 PS
Oil @$86.34 Add $1,854,000 after (T&D) $4,735,000 $0.0800 PS
Oil @$92.98 Add $2,497,000 after (T&D} $5,378,000 $0.0909 PS
Oil @$99.63 Add $3,091,000 after (T&D) $5,972,000 $0.1010 PS
Oil @$106.00 Add $3,709,000 after (T&D) $6,590,000 $0.1114 PS
Oil @$112.91 Add $4,327,000 after (T&D) $7,208,000 $0.1218 PS
Oil @$119.55 Add $4,946,000 after (T&D) $7,827,000 $0.1323 PS

The earnings per share above only include existing production and do not include any further development on owned properites and leases that are presently being conducted.. EPS include all taxes and decline rates taken into consideraton when making asumptions.. I am long as My trading accounts indicates.. hank
===========================================



Reserves:
KNOXVILLE, TN--(MARKET WIRE)--Feb 6, 2008 -- Tengasco, Inc. (AMEX:TGC - News) announced today that the Company's total proved reserves at December 31, 2007 have more than doubled in value from year-end 2006. The reserve report prepared by the independent engineering firm of LaRoche Petroleum Consultants, Ltd. of Houston, Texas indicates that the value of the Company's total proved oil and gas reserves as of December 31, 2007 calculated at a net present value using a 10% discount factor was $53,627,086, up from the 2006 year-end total of $26,469,192. The LaRoche reserve report indicates that the value of the oil and gas reserves attributable to the Company's ownership interests :http://biz.yahoo.com/iw/080206/0358367.html

2007 Results of Operations:

TGC incurred a net income to holders of common stock of $3,510,322 or $0.06 per share in 2007 compared to a net income of $2,141,364 or $0.04 per share in 2006 and compared to a net income of $1,088,028 or $0.02 per share in 2005. The Company recognized a tax benefit for net operating loss carry forwards in the amount of $2,100,000 in 2007.

The Company realized revenues of $9,368,624 in 2007 compared to $9,001,681 in 2006 and compared to $7,172,876 in 2005. Revenues increased $366,943 from 2006 due primarily to an increase in oil prices in Kansas; prices averaged $66.42 in 2007 and 60.84 in 2006. Gross oil production in 2007 was just slightly less than 2006 resulting from the loss of production in January 2007 due to the electricity outage during an ice storm.

As a result of that storm, many counties in Kansas, including some counties where the Company has wells, lost power for the entire month of January. Producing wells in those counties were unable to produce without electricity to run the well pumps during the power outage. Consequently in January 2007 the Company saw production and revenue decline from monthly levels in late 2006. None of the Company’s producing wells were physically damaged by the ice storm or by non production during the absence of power, but the storm did substantially adversely impact production levels and sales in the first two months of 2007 while at the same time causing an increase in expenses. Eventually new poles and lines were rebuilt on a locally massive scale and electrical power was restored, and the Company experienced a rebound of production commencing in March 2007.

In 2007, the Company continued to focus its exploration and drilling activities in Kansas.

In 2007, the Company drilled 16 new wells on its Kansas Properties, of which 9 wells were under the ten well program discussed below in greater detail. Of these new wells, 10 are producing commercial quantities of oil. These new wells are producing approximately 135 barrels of oil per day.

The Company also continued in 2007 its program of work-overs of existing wells to increase production. The Company’s focus in 2007 on its Kansas oil production and the results achieved by the Company from its ongoing operations, drilling and work-overs are having a positive impact on the Company’s reserves resulting in the Company’s total proved reserves at December 31, 2007 having more than doubled in value from year-end 2006. Fifty-Six (56%) percent of that increase in reserve growth is attributable to the Company’s ongoing operational activities and the new Proved Undeveloped (PUD) future drilling locations that the Company has established as a result of these successes. See, Item 2, “Properties” – “Reserve Analysis” for a more detailed discussion of the Company’s reserves.




During 2007, the Company also continued its lease acquisition program in Kansas to acquire oil and gas leases in areas near its previous lease holdings where the Company believes there is a likelihood of additional oil production. The Company continued to collect and analyze substantial seismic data to aid it in its drilling operations. The Company intends in 2008 to continue to acquire additional leases in the area of its existing wells.




Production.....

Kansas Properties...

The Kansas Properties as of December 31, 2007 contained 192 leases totaling 28,934 acres in the vicinity of Hays, Kansas. The increase in the total volume of acreage of the Company’s Kansas Properties from 27,837 acres at the end of 2006 is primarily due to the purchase of two producing leases, the Heyl and RJ Thyfault. The Company focused its drilling, development, and exploration activities in Kansas in 2007 on evaluation of older producing properties, and those properties acquired in 2005 and 2006. Many of these leases, however, are still in effect because they are being held by production. The leases provide for a landowner royalty of 12.5%. Some wells are subject to an overriding royalty interest from 0.5% to 9%. The Company maintains a 100% working interest in most of its older wells and any undrilled acreage in Kansas. The terms for most of the Company’s newer leases in Kansas are from three to five years.

Kansas as a whole is of major significance to the Company. The majority of the Company’s current reserve value, current production, revenue, and future development objectives are centered in the Company’s ongoing interests in Kansas. By using 3-D seismic evaluation on existing locations owned by the Company in Kansas, the Company has added and continues to add proven direct offset locations. As a result of recent higher commodity prices for its oil, the Company has been able to drill from cash flow and attract favorable drilling partner programs in which the Company retains not only a carried beginning interest but a higher-than-industry-standard reversionary interest. The Company expects to continue this mix of company drilling and program drilling depending primarily on future cash flow and future oil prices. Breaking down the Company’s assets in Kansas into individual leases produces no apparent stand out leases that appear to be stand-alone principal properties. As a whole, however, our collective central Kansas holdings (see map below) are of major significance and as a group the most materially important segment of the Company as demonstrated by the following facts during the year ending December 31, 2007:


• Kansas accounted for 91.4% of the Company’s revenue (i.e. $8,560,097 of $9,368,624.)

• Kansas accounted for 86% of the Company’s total production measured in BOE (Barrel of Oil Equivalent)

• Kansas contributes $14.791 million in value of future proven development locations as of year end 2007, compared to just $567,000 in Tennessee

• The Company’s focus in 2008 will be to continue with offset seismic development, and leasing activity in Kansas. As a result, the Company’s undeveloped location value and total number of locations are expected to grow.

In 2007 the Company produced 178,311 barrels of oil in Kansas compared to 179,555 in 2006, a decrease of 1,244 barrels for the year. Additionally, the wells in the Eight Well Program (former Series “A”) reached the reversionary “flip point” in April 2007. This is the point at which the Company started receiving 85% of the participant’s interest plus our original interest of (19.3%) for an approximate total net interest to the Company equal to an 88% interest. In 2007 those wells produced 22,195 gross barrels of oil; the wells in the Twelve Well Program (former Series “B”) now converted to a six well program produced 15,864 gross barrels; wells polymered produced 19,502 barrels; and, the two new wells drilled produced 2,566 gross barrels in 2007.

During 2007 the Company drilled 9 of the 10 wells in the Ten Well Program and produced 3,649 barrels from the 5 wells that were completed by year-end. The other three wells that were drilled in 2007 were then completed in 2008. In March 2008, the tenth and final well in the Ten Well Program was both drilled and completed as a producer. As of the date of this report, nine of ten wells drilled in the Ten Well Program have been completed as producers and are producing approximately 106 barrels per day. During the first half of 2008 the Company expects the reversionary flip point for the Twelve Well Program (former Series “B”) now converted to a six well program, to be achieved.

Gas prices received for sales of gas from the Swan Creek Field averaged $6.86 per Mcf in 2007, $7.27 per Mcf in 2006 and $8.74 per Mcf in 2005. Oil prices received for sales of oil from the Swan Creek field averaged $64.81 per barrel in 2007, and $60.39 per barrel in 2006, and. $53.90 per barrel in 2005.

Production costs and taxes in 2007 increased to $4,322,833 from $3,287,233 in 2006 and $3,046,460 in 2005. The difference is due to increased work-overs to increase production, increased taxes, and overall cost increases of supplies in the industry.

Depletion, depreciation, and amortization for 2007 was $1,631,468, a decrease from $1,911,416 in 2006 due to production volumes added to future reserves from drilling activities. Depletion, depreciation, and amortization increased to $1,911,416 in 2006 from $1,605,043 in 2005. The increase in 2006 was due to a change in focus by the Company toward drilling in Kansas rather than in Tennessee, therefore removing drilling and development locations in Tennessee.

The Company’s general and administrative costs of $1,417,001 in 2007 remained generally consistent with 2006 levels of $1,293,109 and 2005 levels of $1,322,616. The 2007, 2006 and 2005 costs included non-cash charges related to stock options of $116,476, $159,160 and $103,400 respectively.

The increase in interest expense in 2007 relates to the borrowing base increase of the Citibank credit facility in 2007. Interest expense for 2006 decreased significantly over 2005 levels. This was due to the conversion of the Company’s preferred stock, which was subject to mandatory redemption, into either interest in a drilling program, common stock or cash payoffs. As of December 31, 2006, the Company’s only debt financing were vehicle loans totaling $195,801 and the CitiBank loan of $2,600,000.

The Company’s public relations costs remained stable at $21,605 for 2007, compared to $26,037 for 2006 and $30,020 for 2005 as the Company continued to apply cost saving methods in the preparation of its annual report and in publishing of press releases.

Professional fees in 2007 were $232,197 compared to $173,932 in 2006. This was due to the Company commencing its review of its internal controls over its financial reporting in accordance with Item 308(T) of Regulation S-K. Professional fees in 2006 decreased from 2005 levels as the Company’s litigation was settled.

The Company recorded a deferred tax asset of $2,100,000 in 2007 relating to the Company’s net operating loss carry forwards. The Company recorded a gain on disposal of preferred stock of $655,746 in 2005.

Liquidity and Capital Resources .....



On June 29, 2006, the Company closed a $50,000,000 revolving senior credit facility between the Company and Citibank Texas, N.A. in its own capacity and also as agent for other banks. Under the facility, loans and letters of credit were available to the Company on a revolving basis in an amount outstanding not to exceed the lesser of $50,000,000 or the borrowing base in effect from time to time. The Company’s initial borrowing base was set at $2,600,000. The initial loan under the facility with Citibank closed on June 29, 2006 in the principal amount of $2.6 million, bearing interest at a floating rate equal to LIBOR plus 2.5%, resulting in interest of approximately 8.2%. Interest only was payable during the term of the loan and the principal balance of the loan is due thirty-six months from closing. The facility is secured by a lien on substantially all of the Company’s producing and non-producing oil and gas properties and pipeline assets.

The Company used $1.393 million of the proceeds of the $2.6 million loan from Citibank to exercise the Company’s option to repurchase from Hoactzin Partners, L.P. (“Hoactzin”), the Company’s obligation to drill for Hoactzin the final six wells of the Company’s Twelve Well Program. Peter E. Salas, the Chairman of the Board of Directors of the Company, is the controlling person of Hoactzin. He is also the sole shareholder and controlling person of Dolphin Management, Inc., the general partner of Dolphin Offshore Partners, L.P., which is the Company’s largest shareholder. A detailed description of the Twelve Well Program is set forth In “Item 1 – Business” under the subheading “Kansas Drilling Programs”.

If the Company had not exercised its repurchase option, Hoactzin would have received a 94% working interest in the final six wells of the Twelve Well Program until payout as established under the terms of the Twelve Well Program. However, as a result of the terms of the repurchase option, Hoactzin will receive only a 6.25% overriding royalty in the next six Company wells to be drilled, plus an additional 6.25% overriding royalty in the six Program Wells that have previously been drilled. As a further result of the repurchase, the Twelve Well Program was converted into a six well program, and because six wells had been drilled by the Company as of June 30, 2006 the drilling obligation in this program was satisfied upon exercise of the repurchase option. Consequently, as of June 30, 2006, all well-drilling obligations of the Company owed to participants have been satisfied as to the Twelve Well Program (offered to Hoactzin and converted to a 6-well program upon the Company’s repurchase of the obligation to drill the last six wells as described above) as well as the Company’s earlier Eight Well Program (offered to the former Series A preferred stockholders).

Under the terms of the Eight Well Program and Twelve (now Six) Well program, upon payment to the participants of 80% of the value invested in the Program from proceeds from production, the participants will pay the Company a management fee of 85% of their proceeds. As to the Eight Well Program, that point was reached in April 2007 resulting in an increase in revenues from these wells to the Company of approximately $50,000 per month at current volumes and prices. As to the Twelve (now 6) Well Program, that point is expected to be reached during the first half of 2008. It is anticipated, based upon current volumes and prices that this will result in an increase in revenues to the Company of approximately $50,000 per month.

On April 19, 2007 the Company borrowed an additional $700,000 from Citibank under the existing Citibank revolving credit facility. The additional borrowing resulted from Citibank’s increase in the Company’s borrowing base under the credit facility from $2.6 million to $3.3 million as a result of Citibank’s periodic borrowing base review conducted under the terms of credit facility. With the additional borrowing, the Company had borrowed the full amount of the $3.3 million borrowing base which was available to it under the Citibank revolving credit facility. Repayment of this additional sum was subject to the terms and conditions of the Citibank credit facility. The additional amount borrowed was used for additional development of the Company’s producing properties.


On December 17, 2007, Citibank assigned the Company’s revolving credit facility with Citibank to Sovereign Bank of Dallas, Texas (“Sovereign”) as requested by the Company.

Under the facility as assigned to Sovereign, loans and letters of credit will be available to the Company on a revolving basis in an amount outstanding not to exceed the lesser of $20 million or the Company’s borrowing base in effect from time to time. The Company’s initial borrowing base with Sovereign was set at $7.0 million, an increase from its borrowing base of $3.3 million with Citibank prior to the assignment.

The Company’s initial borrowing on December 17, 2007 under its new facility with Sovereign was approximately $4.2 million which will bear interest at a floating rate equal to prime as published in the Wall Street Journal plus 0.25% resulting in a current interest rate of approximately 7.5%. Interest only is payable during the term of the loan and the principal balance of the loan is due December 31, 2010. The Sovereign facility is secured by substantially all of the Company’s producing and non-producing oil and gas properties and pipeline and the Company’s Methane Project assets.

The Company used a portion of the $4.2 million borrowed from Sovereign to pay off the funds it previously borrowed from Citibank. The remaining $900,000 borrowed from Sovereign was used to pay bank fees and attorney fees relating to the assignment in the amount of approximately $75,000 and the balance of approximately $825,000 was used to pay a portion of the purchase price for equipment to be utilized in the Methane Project currently under construction in Church Hill, Tennessee by MMC, the Company’s wholly-owned subsidiary. See, “Item 1 - Business” under the subheading “The Methane Project”.

Net cash provided by operating activities for 2007 was $3,446,677 compared to net cash provided by operating activities of $4,353,966 in 2006. The Company’s net income in 2007 increased to $3,510,322 from $2,141,364 in 2006. The impact on cash provided by operating activities was due to the net income for 2007 and was increased by non-cash depletion, depreciation, and amortization of $1,631,468 and by non-cash compensation and services paid by insurance of equity instruments of $116,476. Cash flow provided in working capital items in 2007 was $211,742 compared to cash provided by working capital items of $122,152 in 2006. The Company’s net income for 2007 included a non-cash deferred tax asset for net operating loss carry forwards of $2,100,000.

Net cash provided by operating activities for 2006 was $4,353,966 compared to net cash provided by operating activities of $2,113,763 in 2005. The Company’s net income in 2006 increased to $2,141,364 from $1,088,028 in 2005. The impact on cash provided by operating activities was due to the net income for 2006 and was increased by non-cash depletion, depreciation, and amortization of $1,911,416 and by non-cash compensation and services paid by insurance of equity instruments of $159,160. Cash flow provided in working capital items in 2006 was $122,152 compared to cash used in working capital items of $209,601 in 2005. This resulted in 2006 from decreases from 2005 in accounts receivable of $434,565 offset by a decrease in other accrued liabilities of $251,327.


Net cash used in investing activities amounted to $3,145,764 for 2007 compared to net cash used in investment activities in the amount of $4,413,185 for 2006. The decrease in net cash used in investing activities during 2006 was primarily attributable to an increase in oil and gas properties of $5,190,611 offset by drilling program funds received of $3,850,000 and an increase in additions to methane project of $1,649,710.

Net cash used in investing activities amounted to $4,413,185 for 2006 compared to net cash provided by investment activities in the amount of $2,166,854 for 2005. The increase in net cash used in investing activities during 2006 was primarily attributable to an increase in oil and gas properties of $5,239,862 offset by a decreased drilling program portion of additional drilling costs of $1,067,400.

Net cash provided by financing activities increased to $1,556,261 in 2007 from cash provided by financing activities of $167,915 in 2006. In 2007 the primary sources of financing included proceeds from borrowings of $1,687,236 compared to $2,732,145 in 2006. The primary use of cash in financing activities in 2006 was to repay the drilling program liability of $2,324,400.

Net cash provided by financing activities increased to $167,915 in 2006 from cash used in financing activities of $4,287,383 in 2005. In 2006 the primary sources of financing included proceeds from borrowings of $2,732,145 compared to $155,075 in 2005. The primary use of cash in financing activities in 2006 was to repay the drilling program liability of $2,324,400.

Critical Accounting Policies....

The Company prepares its Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America, which requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the year. Actual results could differ from those estimates. The Company considers the following policies to be the most critical in understanding the judgments that are involved in preparing the Company’s financial statements and the uncertainties that could impact the Company’s results of operations, financial condition and cash flows.

evenue Recognition
The Company recognizes revenues based on actual volumes of oil and gas sold and delivered to its customers. Natural gas meters are placed at the customers’ location and usage is billed each month. Crude oil is stored and at the time of delivery to the customers, revenues are recognized.

Full Cost Method of Accounting...

The Company follows the full cost method of accounting for oil and gas property acquisition, exploration and development activities. Under this method, all productive and non-productive costs incurred in connection with the acquisition of, exploration for and development of oil and gas reserves for each cost center are capitalized. Capitalized costs include lease acquisitions, geological and geophysical work, day rate rentals and the costs of drilling, completing and equipping oil and gas wells. Costs, however, associated with production and general corporate activities are expensed in the period incurred. Interest costs related to unproved properties and properties under development are also capitalized to oil and gas properties.[b/b

Gains or losses are recognized only upon sales or dispositions of significant amounts of oil and gas reserves representing an entire cost center. Proceeds from all other sales or dispositions are treated as reductions to capitalized costs.

The capitalized oil and gas property, less accumulated depreciation, depletion and amortization and related deferred income taxes, if any, are generally limited to an amount (the ceiling limitation) equal to the sum of:

(a) the present value of estimated future net revenues computed by applying current prices in effect as of the balance sheet date (with consideration of price changes only to the extent provided by contractual arrangements) to estimated future production of proved oil and gas reserves, less estimated future expenditures (based on current costs) to be incurred in developing and producing the reserves using a discount factor of 10% and assuming continuation of existing economic conditions;

(b) the cost of investments in unevaluated properties excluded from the costs being amortized. No ceiling write-downs were recorded in 2007, 2006 or 2005.


Oil and Gas Reserves/Depletion Depreciation And Amortization of Oil and Gas Properties

The capitalized costs of oil and gas properties, plus estimated future development costs relating to proved reserves and estimated costs of plugging and abandonment, net of estimated salvage value, are amortized on the unit-of-production method based on total proved reserves. The costs of unproved properties are excluded from amortization until the properties are evaluated, subject to an annual assessment of whether impairment has occurred.

The Company’s proved oil and gas reserves as of December 31, 2007 were determined by LaRoche Petroleum Consultants, Ltd. Projecting the effects of commodity prices on production, and timing of development expenditures includes many factors beyond the Company’s control. The future estimates of net cash flows from the Company’s proved reserves and their present value are based upon various assumptions about future production levels, prices, and costs that may prove to be incorrect over time. Any significant variance from assumptions could result in the actual future net cash flows being materially different from the estimates.

Asset Retirement Obligations..

The Company is required to record the effects of contractual or other legal obligations on well abandonments for capping and plugging wells. Management periodically reviews the estimate of the timing of the wells’ closure as well as the estimated closing costs, discounted at the credit adjusted risk free rate of 12%. Quarterly, management accretes the 12% discount into the liability and makes other adjustments to the liability for well retirements incurred during the period.

Recent Accounting Pronouncements..

In July 2006, the FASB issued FASB Interpretation No. 48, "Accounting for Uncertainty in Income Taxes - an interpretation of FASB Statement 109" ("FIN 48"), which clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a tax return, including issues relating to financial statement recognition and measurement. FIN 48 provides that the tax effects from an uncertain tax position can be recognized in the financial statements only if the position is "more-likely-than-not" to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. If an uncertain tax position meets the "more-likely-than-not" threshold, the largest amount of tax benefit that is more than 50 percent likely to be recognized upon ultimate settlement with the taxing authority, is recorded. The provisions of FIN 48 are effective for fiscal years beginning after December 15, 2006, with the cumulative effect of the change in accounting principle recorded as an adjustment to opening retained earnings. Consistent with the requirements of FIN 48, the Company adopted FIN 48 on January 1, 2007. The Company does not expect the interpretation will have an impact on its results of operations or financial position.

In September 2006, the Securities and Exchange Commission staff published Staff Accounting Bulletin SAB No. 108 (“SAB 108”), "Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements." SAB 108 addresses quantifying the financial statement effects of misstatements, specifically, how the effects of prior year uncorrected errors must be considered in quantifying misstatements in the current year financial statements. SAB 108 is effective for fiscal years ending after November 15, 2006. The Company adopted SAB 108 in the fourth quarter of 2006. Adoption did not have an impact on the Company’s consolidated financial statements.

In September 2006, the FASB issued SFAS 157, Fair Value Measurements. The standard provides guidance for using fair value to measure assets and liabilities. It defines fair value, establishes a framework for measuring fair value under generally accepted accounting principles and expands disclosures about fair value measurement. Under the standard, fair value refers to the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the market in which the reporting entity transacts. It clarifies the principle that fair value should be based on the assumptions market participants would use when pricing the asset or liability. In support of this principle, the standard establishes a fair value hierarchy that prioritizes the information used to develop those assumptions. Under the standard, fair value measurements would be separately disclosed by level within the fair value hierarchy. Statement 157 is effective for financial statements issued for fiscal years beginning after November 15, 2007. The Company continues to evaluate the impact the adoption of this statement could have on its financial condition, results of operations and cash flows.

In February 2007, the FASB issued SFAS No. 159 “The Fair Value Option for Financial Assets and Financial Liabilities — As amended” (“SFAS 159”). SFAS 159 permits entities to elect to report eligible financial instruments at fair value subject to conditions stated in the pronouncement including adoption of SFAS 157 discussed above. The purpose of SFAS 159 is to improve financial reporting by mitigating volatility in earnings related to current reporting requirements. The Company is considering the applicability of SFAS 159 and will determine if
adoption is appropriate. The effective date for SFAS 159 is for fiscal years beginning after November 15, 2007.

CONTRACTUAL OBLIGATIONS...

The following table summarizes the Company’s contractual obligations at December 31, 2007:

Payments Due By Period...


Contractual Obligations;
Total: $4,405,333

Less than 1 year;
Total: $89,560

1-3 years;
Total: $4,315,773

3-5 years;
Total $0.00

More than 5 years;
Total: $0.00

No cash dividends have been declared or paid by the Company for the periods presented.

On July 1, 2003, the Company adopted the provisions of Statement of Financial Accounting Standards No. 150 under which mandatorily redeemable preferred stock shall be reclassified at estimated fair value to a liability. Thus, in 2003, it was determined that each of the Company’s series of preferred stock qualifies as shares subject to mandatory redemption and should be classified as a liability.

The Company’s working capital surplus of 2,473,476.00 was attributable to high commodity prices as well as an increase in the borrowing base by $900,000 on December 17, 2007 and the funding of the Ten Well Program. The Company has expended approximately $1.5 million of these funds subsequent to year-end on the Methane Project and completing the Ten Well Program.

[shmoopy38]

CONX.ob 0.36 - Highly relevant to CONX's FDA-approved AspirinWorks medical test:

Aspirin Resistance Increases Risk For Heart Attack and Stroke

Best Syndication News
Submitted by Dan Wilson
May 7, 2008 - 4:42pm

Researchers in Europe say that regular users of aspirin may develop an “aspirin resistance” that could put some patients at risk of stoke and cardiac events. Doctor Armen Yuri Gasparyan, MD at the City Hospital, Birmingham, United Kingdom, and colleagues conducted an extensive study which appears in this month’s issue of the Journal American College of Cardiology.

The research suggests that most patients receiving long-term aspirin therapy still remain at substantial risk of thrombotic events due to insufficient inhibition of platelets, specifically via the thromboxane A2 pathway. A Canadian study in January found that heart patients who are resistant to aspirin are four times more likely to suffer a heart attack, stroke or to die.

Although aspirin is well recognized as an effective antiplatelet drug for secondary prevention in patients at high risk of cardiovascular events, estimates suggest that between 5.5% and 60% of patients using this drug may exhibit a degree of "aspirin resistance. The researchers admit that the exact “prevalence” is not known.

An article in the February 2004 “US Pharmacist” publication, Mary Ann E. Zagaria, MS, RPh, CGP, PharmD, found that “widespread use of aspirin has reduced major events of arterial thrombosis by 25% in the secondary prevention.” Zagaria went on to say that this reduces the combined risk of stroke, MI, or vascular death in atherosclerotic patients.

“Patient variables associated with the most aspirin-related reductions in mortality were older age, known CAD, and impaired exercise capacity,” Zagaria added.

Gasparyan and his colleagues say that Smoking, obesity, diabetes, heart failure, inflammation, and other factors may boost aspirin resistance, the review shows. It has been known that some patients can develop aspirin resistance, but this research focused on the “importance of aspirin resistance” to cardiovascular patients.

[arnie70]

Ok guys It is time to get in or load up some more,
YUP, I AM TABLE POUNDING
To refresh your memory the oil is seeping in several areas,
The price should keep going up while the RIGS are drilling.
GLA ----NOG.v

Nordic Oil and Gas Receives Approval of Environmental Report; Expects to Start Drilling at Preeceville Shortly
Friday May 2, 2:30 pm ET


WINNIPEG, May 2 /CNW/ - Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd. ("Nordic" or, the "Company"), today announced that the Company has received approval from the Saskatchewan Ministry of Environment on its Environmental Report submitted earlier this year with respect to Nordic's proposed drilling program at Preeceville, Saskatchewan, Canada. This approval now paves the way for Nordic to commence drilling its initial two wells in Preeceville, where the Company previously announced the discovery of numerous oil seeps.
"Obviously we are pleased to have finally received approval from the Ministry of Environment and we are eager to begin drilling these first two wells," said Mr. Benson. "We will immediately begin negotiating with the drilling contractor to arrange for a rig and expect drilling to commence as soon as a possible, pending the lifting of the road bans in Saskatchewan and the conclusion of spring break-up. We anticipate this to occur in mid-May.

"In the meantime, we will begin clearing and preparing the two well sites in readiness for the drilling to commence," he added.

[shmoopy38]

CONX.ob 0.35 - Alert Triggered for Corgenix Medical Corp.

CONX's Trading Volume Exceeded Daily Average by 207.4%

Please note you will receive only one "Trading Volume Exceeds Daily Average" alert per day for Corgenix Medical Corp.

[arnie70]

NOG.V ----I FOUND THIS ON THE BULLBOARDS
The stock has started to move up.
--------TABLE POUNDER



(http://eti-geochemistry.com/jd/index.html)

We have demonstrated that a well-ordered chemical relationship among light hydrocarbon gases in near-surface soils and gases exists as noted by Nikonov (1971) in reservoirs and by Pixler (1969) in gas shows from drilling wells. The correlations are certainly encouraging and imply that subsurface hydrocarbons do migrate to the surface. These conclusions were drawn initially from data observed in California basins, then supported by southwest Texas surveys, and later supported by observations in several major western basins. These same conclusions could have been drawn from data observed in eastern basins, such as the Appalachian and Michigan basins.
This established compositional relationship proves that the method directly detects subsurface hydrocarbons. Regardless of commercial considerations, a soil-gas seep leaves no doubt that hydrocarbons have been generated within the basin.
Current knowledge of surface geochemistry suggests that it provides an excellent tool for regional evaluations. This is especially true in relatively unexplored basins where additional accumulations, or any accumulations, are unknown. The prediction of oil versus gas production has obvious economic importance.
Another objective of this paper is to illustrate the relationship between hydrocarbon migration paths and local soil-gas anomalies. Pineview is an excellent example of where surface geochemical exploration might have pioneered discovery of the field, and did in fact predict both the westward extension of the field and the gas potential outside the field limits. One of these gas anomalies was confirmed by a wildcat well in 1981. One certainly could have predicted the right place to drill, even if drilled directly on the soil-gas anomalies, without due regard for downdip projections.
The question of lateral versus vertical migration is very important to the interpretation of geochemical data. Our present knowledge indicates that both occur. The extent of either depends on the geometry of the sediments and the tectonics. Our empirical data indicate that in most places there is enough vertical permeability for a seep to exist directly over a deposit. However, some lateral migration (particularly near the surface) generally occurs, so that the shape and location of the surface anomaly will not exactly match that of the prospective reservoir.
Surface geochemical anomalies are nothing more than microlevel oil and gas seeps. Link (1952) stated, "A look at the exploration history of the important oil areas of the world proves conclusively that oil and gas seeps gave the first clues to most oil-producing regions. Many great oil fields are the direct results of seepage drilling." More recently, Dickey and Hunt (1972) noted, "It is probable that more oil fields have been discovered by drilling on or near seeps than any other prospecting method.” Development of this technology to date has proved the usefulness of surface geochemistry for regional basin evaluation. Local evaluations may be difficult because the migration path must be established to determine whether a surface seep has originated from a particular subsurface trap. Evaluation of a particular seep requires a great deal of cooperation among geochemists, geologists, and geophysicists to obtain the amount and type of information needed for a correct interpretation

[Knowledge is King]

MRCR results just PRd

(PR Wires) PRW: Moro Corporation Reports Full Year 2007
PRW: Moro Corporation Reports Full Year 2007

Revenue at All-Time High; Expansion Programs Continue
WAYNE, Pa.--(BUSINESS WIRE)--April 28, 2008--
Moro Corporation (OTC:MRCR) today announced that financial results for the
twelve months ended December 31, 2007 were as follows:

Twelve Months Ended
December 31
-----------------------
2007 2006
---------- ----------
Revenue $64,020,000 $58,447,000
Net income $ 1,516,000 $ 1,537,000
Earnings per share $ .24 $ .25
Average number of common shares outstanding 6,304,438 6,271,931

Revenue for the twelve months ended December 31, 2007 was $64,020,000, an
increase of 10% over the prior year period. The Mechanical Contracting
Division accounted for 52% and the Construction Materials Division accounted
for 48% of full year revenue.

Net income for the year ended December 31, 2007 was $1,516,000.

The Mechanical Contracting Division reported record earnings due to strong
profit results for several projects including three joint ventures with
other contractors regarding three Pennsylvania gambling casino projects. The
Construction Materials Division reported reduced earnings due to lower gross
profit margins caused by competitive pricing pressures and heavy start-up
costs associated with opening two new steel fabrication and distribution
facilities and a general overall expansion of marketing and fabrication
capabilities.

David W. Menard, President and CEO, commented: "We did a good job growing
the 'top line' during 2007. We expect to do a better job with the 'bottom
line' in 2008. We continue to implement plans, including possible
acquisitions, to expand our product lines, production/service capacity,
market share and geographical coverage."

Moro's financial position is strong. At December 31, 2007, cash totaled
$2,070,000 and represented 26% of stockholders' equity. The after tax return
on beginning of the year stockholders' equity was 24%.

Although the U.S. economy continues to weaken and will likely become worse,
the outlook for Moro's performance during the next couple of years continues
to be favorable. The vast majority of Moro's business has a non-residential
focus.

Moro is a profitable and financially strong multi-subsidiary and
eleven-location construction products and services company engaged in the
(a) fabrication of concrete reinforcing steel (rebar), sheet metal (duct
work), and process piping, (b) distribution of construction steel,
miscellaneous steel and construction accessories, and (c)
industrial/commercial/residential mechanical contracting services (HVAC,
plumbing, and piping).

For more information, contact David W. Menard, President and CEO, at
484-367-0300, fax [phone].

Statement under the Private Securities Litigation Reform Act: This press
release contains certain forward-looking statements regarding, among other
things, the anticipated profitability and continued growth of the company.
Those statements are subject to known and unknown risks, uncertainties and
other factors that could cause the actual results to differ materially from
those contemplated by the statements, including the continued ability of the
company to generate operation profits, the lack of continued demand for the
company's products, the ability to locate and acquire suitable acquisition
opportunities, and if acquired, the failure of any such businesses to
generate operating profits.

CONTACT: Moro Corporation
David W. Menard, President and CEO
484-367-0300
Fax: [phone]

SOURCE: Moro Corporation
Copyright Business Wire 2008

(END) Dow Jones Newswires
April 28, 2008 12:52 ET (16:52 GMT)
*** end of story ***

[shmoopy38]

Lonza settles legal dispute with Northwest Biotherapeutics on GS Gene products
04.24.08, 3:04 AM ET

FRANKFURT (Thomson Financial) - Lonza Group AG. said Northwest Biotherapeutics Inc. agreed to destroy the GS Gene Expression system materials, made by Lonza, in its possession to end a legal dispute.

The GS Gene Expression System, owned and licensed by Lonza, is used to make therapeutic recombinant proteins and monoclonal antibodies.

[e-mail]

Copyright Thomson Financial News Limited 2008. All rights reserved.

[ghmm]

I've posted this before and with the annual due any day (they are late) it may be worthwhile to post this information again. The stock is at $2 now and the spread is 1.9 - 2.05 about as low as it gets (I've seen close to $1 spread before). I am not one to forecast price as I have been a shareholder for a couple years and intend to for years more but one can do simple valuations and see it is quite cheap. I think SMID surprised a few people with actual earnings in Q4 and while it is not the strongest quarter for Moro unless we lose substantial money the PE is in the mid single digits. Like SMID I think they may be getting stereotyped as a pure construction play and they are not (rebar and HVAC so a lot of infrastructure). For long term investors I'ld really recommend reading the Interview with David Menard. For shorter term looking at the financial for the past couple years. Oh and they have added another company in Q4 which should be good for a couple cents EPS (on an annual basis). The business model and execution the past few years make it a gem of a company that is really been punished lately! Disclosure I am quite long and have been adding since early 2006.

MRCR Brief DD
1) Read the WallStreet Transcript Interview http://www.morocorp.com/news/Moro%20Corp%20-%20Wall%20Street%20Transcript.pdf
(or get from http://www.morocorp.com/news/index.htm )
2) Filings http://www.pinksheets.com/pink/quote/quote.jsp?symbol=MRCR&tabValue=4#getFilings
3)

Year Sales EPS Shares
2000 7.7M .06 5.65M
2001 10.9M .09 5.65M
2002 14.6M .07 5.77M
2003 23.1M .06 6.25M
2004 30.6M .18 6.25M
2005 34.9M .23 6.25M
2006 58.4M .25 6.28M
2007* 47.9M .25 6.28M (*9 months)


4) Managed in a similar fashion as Warren Buffet for microcaps. Acquires good solidly profitable (though low margin companies). Wants management to stay on. Invests in growing acquired companies and looking to acquire at low multiples. Mainly HVAC and construction at this time but open to other areas.
5) Forget the bumps and look at growing revenue, EPS, consistent profitability, return on equity. Stable share count (deals financed in mix of existing cash, debt and equity/equity stake to explain the occasional jump)
6) Its thinly traded, CEO owns majority stake. Was exchange listed went to Pink Sheet (With sarbanes oxley) and now OTC-QX listed.
7) Be Happy to discuss on Value Microcaps board or MRCR board (http://investorshub.advfn.com/boards/board.asp?board_id=8604 )

[shmoopy38]

NWBO.ob 1.90 brain cancer vaccine article:

http://www.northjersey.com/news/Experimental_vaccine_offers_hope_against_brain_cancer.html?page=all

[10 bagger]

DPDW..POUND,, POUND,, POUND,, hank

This is going to be a great acquisition for DPDW..

Flotation Technologies Recognized for Manufacturing Excellence..

http://investorshub.advfn.com/boards/read_msg.asp?message_id=28583255

Jan. 10, 2008 - Flotation Technologies, Inc., a world leader in the engineering, design and manufacturing of deepwater buoyancy and polyurethane elastomer systems, today introduced CoreTec™, its new drilling riser buoyancy module, to the marketplace.

Today's news is a company changer.

DPDW 2007 FY Revenues : $19,389,730
Flotec 2007 FY Revenues : $17,270,000


Flotation Technologies, Inc., of Biddeford, a global leader in the design and production of deepwater buoyancy systems, received the Manufacturing Excellence Award from Maine Manu-facturing Extension Partnership (MEP) recently for superior manufacturing practices that have allowed the technology company to successfully compete in the international market.

DECD Commissioner John Richardson also attended the event to support Flotation Technologies' employees and their proactive approach to streamlining production operations and becoming a world leader in providing cost-effective products to the oceanographic, offshore, seismic and military markets.

"Flotation Technologies is an innovative company that is utilizing the resources available to Maine businesses to compete in the global economy and strengthen their infrastructures," said Commis-sioner Richardson. "DECD and its partners, including Maine MEP, are here to support businesses and help them succeed."

Maine MEP recently assisted Flotation Technologies in the development of several new business practices and methods as the company expanded into a 45,000-square-foot facility in the Biddeford Industrial Park. The new facility will include high-tech automated production equipment that will allow Flotation Technologies to triple its production capacity.

The company currently employs 42 people, including the addition of 14 employees since the Maine MEP assessment, and hopes to have more than 50 employees by the end of 2007.

Visit www.flotec.com for more information on Flotation Technologies, Inc.
http://www.mainemep.org/press/pr2007_aug01.pdf

Flotation Technologies Launches CoreTec™, A New Drilling Riser Buoyancy Module
Company brings innovative buoyancy module to the drilling industry

Jan. 10, 2008 - Flotation Technologies, Inc., a world leader in the engineering, design and manufacturing of deepwater buoyancy and polyurethane elastomer systems, today introduced CoreTec™, its new drilling riser buoyancy module, to the marketplace.

CoreTec is an engineered solution to an old problem-how to safely compensate for the weight of the drill string in deep water. Using the latest in 3D CAD design and finite element analysis, Flotation Technologies' engineers have designed a product that is tougher, safer and can go deeper than any buoyancy modules currently in the market.

"CoreTec combats the typical rough handling riser buoyancy modules are subjected to in two, unique ways," explained Tim Cook, president. "First, the SolidCore™ inner buoyancy material is cast from solid, pure syntactic foam containing no "minispheres" or "EP's", the major cause of implosions and buoyancy loss. This SolidCore™ foam allows the modules to reach depths of 12,000 feet and beyond without danger of catastrophic failure. Then, the ToughSkin™ outer shell is molded from thick, solid, high-density polyethylene. This shell provides an unprecedented level of protection, from both impact and abrasion, for the syntactic foam inner core."

The CoreTec design is concentrated around using the strongest materials to create a product that provides the best protection. The product is designed so that it will experience less breakage in the yard and while running and retrieving; lower buoyancy loss in service, and minimal risk of failure all of which equate to fewer spares, less down-time and reduced risk to personnel, significantly lowering total cost of ownership over time.

Photos are available upon request. For product details please visit flotec.com or call Flotation Technologies directly at [phone].

About Flotation Technologies, Inc.
Flotation Technologies, Inc., based in Biddeford, Maine, is a world leader in the engineering, design and manufacturing of deepwater buoyancy systems using high-strength Flotec™ syntactic foams and polyurethane elastomers. Focused on the offshore oil, oceanographic, seismic and government markets, Flotation Technologies delivers world-class buoyancy products for a host of marine applications such as: distributed buoyancy for flexible pipes and umbilicals, drilling riser buoyancy modules, ROV buoyancy, QuickLoc™ cable floats, Hardball™ umbilical floats, FLOTECT™ cable and pipeline protection, Inflex™ polymer bend restrictors and installation buoyancy of any size and depth rating. For more information, visit flotec.com.

REPEAT OF NEWS TO THOSE WHO MISSED IT OR WANT TO REVIEW IT AH:

Deep Down to Acquire Flotation Technologies

PR Newswire "US Press Releases "

HOUSTON, April 17 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW) today announced it has executed a Stock Purchase Agreement to purchase all of the outstanding capital stock of Flotation Technologies, Inc.

Headquartered in Biddeford, Maine, Flotation Technologies is a recognized leader in the design and manufacture of deepwater buoyancy systems, specializing in Flotec(TM) syntactic foam and polyurethane elastomer products. With extensive engineering, design, fabrication, and analysis capabilities, Flotation Technologies provides quick turnaround, cost-effective buoyancy and elastomer products to the worldwide oceanographic, offshore energy, seismic, and military markets. Within the past few years, Flotation Technologies has received its approved vendor status for the supply of engineered products such as distributed buoyancy, installation buoyancy and bend limiting products from numerous customers including Aker Kvaerner, Cooper Cameron, Chevron, Devon Energy, Exxon Mobil, Oceaneering Multiflex, Petrobras, Shell, Statoil, Technip, and Wellstream International. More information can be obtained at http://www.flotec.com.

Unaudited financial information provided by the management of Flotation Technologies indicates that revenue for the latest twelve months ending March 31, 2008, was approximately $17.27 million, with pretax income of $4.84 million, and EBITDA of $5.26 million, adjusted for certain nonrecurring expenses and a gain on sale of real estate assets. Financial results of operations for the years ended December 31, 2007 and 2006, will be presented when audits are finalized.

"The total purchase price for the acquisition is expected to be approximately $23.3 million. Flotation Technologies' revenue for the year ended December 31, 2007, was approximately double the revenue realized in the prior year. According to Quest Subsea Forecast (October 2007), capital expenditures in the offshore energy industry are expected to experience significant growth for the next several years. Our strategy is to participate in that growth. Buoyancy will become more important as the offshore energy industry continues its trend toward exploration and development activities in ultra deep waters. This acquisition will give Deep Down a major product line, position the Company to become a leader in flotation systems, and increase our presence in deepwater operations," commented Robert E. Chamberlain, Jr., Deep Down's chairman and chief acquisition officer.

Ronald E. Smith, Deep Down's president and chief executive officer commented, "We are very excited about this acquisition. Our strategy is to work closely with management to expand their existing business and explore new areas of opportunity. Our view of the future of subsea equipment involves structural integration of buoyancy into various components of the undersea distribution system. Due to our prominence in installation activities of subsea equipment throughout the world, our customers are increasingly asking us to supply the equipment and systems we install. Where appropriate, we intend to manufacture high-demand technology-advantaged products in high-growth markets. Our strategy is to become a major player in many facets of the offshore deepwater industry."

Deep Down's closing of the purchase of Flotation Technologies remains subject to several conditions, including Deep Down's obtaining financing for the payment of the purchase price.

About Deep Down, Inc.

Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project.

The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.

The Company's Mako subsidiary serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys.

The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com, http://www.electrowaveusa.com and http://www.makotechnologies.com.

One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.

SOURCE Deep Down, Inc.

[nsomniyak]

Figured more acquisitions were (and maybe are) in the pipeline. have not reviewed the numbers but this sure SOUNDs like the right kind of company with with right kind of products and customer list.

[10 bagger]

DPDW...

And the beat goes on.. It became a table pounder yesterday..hank

Deep Down to Acquire Flotation Technologies
Thursday April 17, 2:01 pm ET


HOUSTON, April 17 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) today announced it has executed a Stock Purchase Agreement to purchase all of the outstanding capital stock of Flotation Technologies, Inc.
ADVERTISEMENT


Headquartered in Biddeford, Maine, Flotation Technologies is a recognized leader in the design and manufacture of deepwater buoyancy systems, specializing in Flotec(TM) syntactic foam and polyurethane elastomer products. With extensive engineering, design, fabrication, and analysis capabilities, Flotation Technologies provides quick turnaround, cost-effective buoyancy and elastomer products to the worldwide oceanographic, offshore energy, seismic, and military markets. Within the past few years, Flotation Technologies has received its approved vendor status for the supply of engineered products such as distributed buoyancy, installation buoyancy and bend limiting products from numerous customers including Aker Kvaerner, Cooper Cameron, Chevron, Devon Energy, Exxon Mobil, Oceaneering Multiflex, Petrobras, Shell, Statoil, Technip, and Wellstream International. More information can be obtained at http://www.flotec.com.

Unaudited financial information provided by the management of Flotation Technologies indicates that revenue for the latest twelve months ending March 31, 2008, was approximately $17.27 million, with pretax income of $4.84 million, and EBITDA of $5.26 million, adjusted for certain nonrecurring expenses and a gain on sale of real estate assets. Financial results of operations for the years ended December 31, 2007 and 2006, will be presented when audits are finalized.

"The total purchase price for the acquisition is expected to be approximately $23.3 million. Flotation Technologies' revenue for the year ended December 31, 2007, was approximately double the revenue realized in the prior year. According to Quest Subsea Forecast (October 2007), capital expenditures in the offshore energy industry are expected to experience significant growth for the next several years. Our strategy is to participate in that growth. Buoyancy will become more important as the offshore energy industry continues its trend toward exploration and development activities in ultra deep waters. This acquisition will give Deep Down a major product line, position the Company to become a leader in flotation systems, and increase our presence in deepwater operations," commented Robert E. Chamberlain, Jr., Deep Down's chairman and chief acquisition officer.

Ronald E. Smith, Deep Down's president and chief executive officer commented, "We are very excited about this acquisition. Our strategy is to work closely with management to expand their existing business and explore new areas of opportunity. Our view of the future of subsea equipment involves structural integration of buoyancy into various components of the undersea distribution system. Due to our prominence in installation activities of subsea equipment throughout the world, our customers are increasingly asking us to supply the equipment and systems we install. Where appropriate, we intend to manufacture high-demand technology-advantaged products in high-growth markets. Our strategy is to become a major player in many facets of the offshore deepwater industry."

Deep Down's closing of the purchase of Flotation Technologies remains subject to several conditions, including Deep Down's obtaining financing for the payment of the purchase price.

About Deep Down, Inc.

Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project.

The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.

The Company's Mako subsidiary serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys.

The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com, http://www.electrowaveusa.com and http://www.makotechnologies.com.

One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.




--------------------------------------------------------------------------------
Source: Deep Down, Inc.

[littlefish]

Say gilead, did MXC ever get put on here when I requested it at $4.23? Just curious:) I figured I should be pounding the table with it being my 2nd biggest bet investing ever (behind AYSI's original dollar amount spent).

[littlefish]

ENTX- save KiK the work. Here's the part in 10K. Notice it says their insurance to date has covered for the suits brought against them. Hopefully it continues that way (my stars to highlight the area):


Prior to 1975, we were engaged in the sale and installation of asbestos-related insulation materials, which has resulted in numerous claims of personal injury allegedly related to asbestos exposure. Many of these claims are now being brought by the children and close relatives of persons who have died, allegedly as a result of the direct or indirect exposure to asbestos. ***To date all of our asbestos-related injury claims have been paid and defended by our insurance carriers***.


Based on the general trend of reducing asbestos-related injury claims made against the Company over the past seven years, we project that 738 asbestos-related injury claims will be made against the Company in the future, in addition to the 222 claims existing as of December 31, 2007, totaling 960 claims. Multiplying the average indemnity paid per resolved claim over the past seven years of $19,700, by 960, we project the probable future indemnity to be paid on those claims to be equal to approximately $19 million. In addition, multiplying an estimated cost (which cost is included within the limits of our insurance coverage) of defense per resolved claim of approximately $13,500 by 960, we project the probable future defense costs to equal approximately $13 million. See Item 3 - “Legal Proceedings - Asbestos-related Claims.”

Then you can read item 3 on the 10K.

Here's some other stuff (item 14 is an area to read):

We have determined that it is probable that we have sufficient insurance to provide coverage for both current and future projected asbestos-related injury claims. This determination assumes that the current trend of reducing asbestos-related injury claims will continue and that the average indemnity and direct legal costs of each resolved claim will not materially increase. The determination also assumes that the insurance companies live up to what we believe is their obligation to continue to cover our exposure with regards to these claims. Several affiliated insurance companies have brought a declaratory relief action against our subsidiary, Metalclad, as well as a number of other insurers, to resolve certain coverage issues.



There's been a general downtrend in the case #s with time and the company looks cheap but I personally am not putting $ into something with asbestos lawsuit exposure.

[littlefish]

ENTX- don't forget the potential lawsuit liabilities. Just making sure people were aware of that.

Although I don't remember the potential amounts with asbestos, so just saying to look it up if you're invested or thinking of investing so the risk is understood. Looks very cheap, but for a reason.

KIK knows a whole lot more than I do so he could probably clarify the risk.

[littlefish]

Can I put MXC up at today's close? Figured I'd try and put this one up with it selling off a bit today on the energy plunges over last couple days.
Trades real thin though so wouldn't do anything other than wait for it to buy in. Earnings for enxt Q won't be out until June anyways and there's not a whole lot of news they typically put out between Q reports.
I like it though, trades around tangible book, fiscally tight mgmnt (check out the website! Ack...), recent boost to nat gas production and some slight increases in last few Qs to production (both oil and gas).
Has shown to be profitable even when energy prices were much lower.
Some warts as well, production has declined for 4 straight years (but is turning back up and should pop with the new nat gas purchase), not really very actively managed with CEO mostly retired. No flow rate data for their recent largest purchase in company history for nat gas with the royalty interest in 3 Barnett Shale wells in Tarrrant Cty.
Some history of disappointment with GasTex Russia JV doing nothing. Lea Cty well couldn't get drilled to completion. Borden Cty porject seems bogged down with not being completed and more money spent.
They're completely unhedged, both good and bad.
Very thinly traded at times, so patience to get in is warranted.

Not a real big potential winner. But for the safety vs risk in this market, I think it works well IMO only.

[Ovidius]

Why is ENTX a pink sheet stock? TIA.

[Knowledge is King]

re ENTX: $.82 book, $.26/share cash, P/E 3.5, revenue/share of almost $3, backlog up about 10%,


I pound again!

[micham2012]

ENTX.pk:

10KSB filed. EPS $.08 for 2007. Increasing revenues and margins. Not bad for a $.28 stock. Thanks to KIK for pounding:

http://biz.yahoo.com/e/080314/entx.pk10ksb.html

Steve