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Industrial Enterprises of America to Host Fiscal Second Quarter Conference Call on February 16
Last update: 2/14/2007 5:32:22 PMNEW YORK, Feb 14, 2007 (BUSINESS WIRE) -- Industrial Enterprises of America, Inc. (IEAM), a specialty automotive aftermarket supplier, today announced that it will file its results for the fiscal quarter ended December 31, 2006 on form 10-Q with the Securities and Exchange Commission (SEC) on Thursday, February 15, 2007. The company then plans to host an earnings conference call at 11:00 a.m. Eastern on Friday, February 16. During the call, John Mazzuto, Chief Executive Officer, will discuss the company's quarterly performance and financial results. The telephone number for the conference call is 877-407-0782. The call will be webcast and can be accessed on the website, . Investors will be able to access an encore recording of the conference call for one week by calling 877-660-6853 and referencing account number 286, conference number 232183. The recording will be available two hours after the conference call has concluded. In addition, a replay of the webcast will be available for 180 days after the call on .
About Industrial Enterprises of America Industrial Enterprises of America, Inc., headquartered in New York, NY, is an automotive aftermarket supplier that specializes in the sale of anti-freeze, auto fluids, charcoal fluids, and other additives and chemicals. The company has distinct proprietary brands that collectively serve the retail, professional and discount automotive aftermarket channels.
HWEB is on fire today. NGA posts .12 v .03. Sales up 55%. Stock seems to be reacting well.
Jeez, another 13G out tonight, this time from Third Point LLC. They own 0 shares now. This explains the recent share price decline.
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Third Point, LLC is a $3.5 billion dollar hedge fund with a focus on activist investing. It was founded in 1995 by Daniel Loeb with $3.3 million from family and friends. Loeb is well known in the hedge fund world for his attacks on what he views as greedy executives who also happen to be depressing shareholder value.
Third Point has posted an average annual return of 28.9 percent since Loeb founded the firm in 1995, he says. That’s more than double the 12.5 percent gain logged by similar hedge funds during that period, according to Credit Suisse First Boston Tremont Index LLC.
Loeb often refers to what he does as “the moral-indignation business.” Loeb’s goal is to shame companies into replacing their CEOs, shaking up their boards—whatever it takes to boost the value of his investment.
For instance, in the 13D filing he wrote to protest the management of Star Gas he asked the CEO, “How is it possible that you selected your elderly 78-year old mom to serve on the Company’s Board of Directors and as a full-time employee?” Loeb wondered. “Under what theory of corporate governance does one’s mom sit on a Company board?”
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Wonder why he didn't stick with IEAM? Kind of a wimpy exit for such an "activist shareholder."
abh3vt, sounds like a good reason for Kellogg to sell. I'm hoping whatever is stalling the Nasdaq approval isn't major. Do you think it might have to do with the way they have been reporting earnings w/ regard to the warrants/diluted share count?
Kellogg Capital Group sold out of their position, as per the 13G filed yesterday. They owned a 4.1% stake 1 year ago. I'm looking forward to the next earnings report. According to the CEO, they will earn roughly .22, .33, and .50 the next three quarters, so I don't understand why Kellogg would bail at this juncture, unless they don't believe the guidance....
Kellogg Capital Group sold out of their position, as per the 13G filed yesterday. They owned a 4.1% stake 1 year ago. I'm looking forward to the next earnings report. According to the CEO, they will earn roughly .22, .33, and .50 the next three quarters, so I don't understand why Kellogg would bail at this juncture, unless they don't believe the guidance....
Answers.com Climbs to 62nd-Largest US Web Property Based on Unique Monthly Visitors
Rapid Pace as one of the Fastest Growing Web Properties
NEW YORK, February 13, 2007 /PRNewswire-FirstCall via COMTEX/ -- Answers Corporation (ANSW), announced today that Answers.com(TM) was the 62nd-largest web property in the U.S., based upon unique monthly visitors in January 2007, according to comScore Media Metrix. This compares with a ranking of 78 for December 2006. The Answers.com web property, measured by comScore, includes and, beginning in November 2006, wiki.answers.com (formerly FAQ Farm). "Advancing to the 62nd-largest web property in just two years since our launch of Answers.com surpasses our wildest expectations," said CEO Bob Rosenschein. "Our continual growth in traffic as measured by unique monthly visitors is another indicator that Answers.com is being favorably received by users everywhere." Answers.com was also one of the fastest-growing web properties in the U.S. since the beginning of 2006. Between December 2005 and January 2007, monthly unique visitors grew 169% from 4.8 million to 12.9 million, according to comScore (154% and 12.2 million, if excluding the November 2006 acquisition of WikiAnswers(TM)). Answers.com's web property rank improved from 177 to 62 during this period. This pace exceeded the growth of other well-known web properties, such as Wikipedia, Craigslist, WebMD and Facebook.
Tough Q for FPB. Sales $13M vs $18.2M. down 28%. EPS (.29) vs. .07. I shorted some at $4.20
ADA.V closed up .06 or 5.83% to $1.09 C
ADGLF.PK closed up .01 or 1.12% to $.90 US
That's a fairly large percentage difference
$1.09 C = $.93 US
The spread inevitably evens out over time, so maybe "playing the spread" or "trading the spread" on these lower volume pink sheet equivalents is a quick way to pocket some short-term trading profits (if you are into that sort of thing).
Scratch "Capital Gaurdian Trust files 13G-they own 892K shares" off the list. Error on my part.
Recent acquisition. The product looks good and makes sense as it appears easy to use and lasts longer than conventional fire extinguishers. Not sure what the financials looks like, or how many shares IEAM included in the deal...definately could be a winning product and hopefully add to IEAM's future earnings....
Industrial Enterprises of America Purchases Fire 1st Defense, LLC
NEW YORK, Feb 1, 2007 (PrimeNewswire via COMTEX) -- Industrial Enterprises of America, Inc. (OTCBB:IEAM), a specialty automotive aftermarket supplier, today announced that the Company has purchased Fire 1st Defense, LLC, an innovative company that markets and sells consumer friendly fire extinguishers/suppressant. The net purchase price consisted of a combination of cash and stock valued at approximately $500,000.
Fire 1st Defense's fire extinguisher utilizes a patented delivery system driven by compressed gas, making it unique and simple to operate. As part of the purchase price, IEAM acquired all inventory, purchase orders, patents and copyrights.
John Mazzuto, Chief Executive Officer of Industrial Enterprises of America, commented, "The Fire 1st Defense fire extinguisher is a unique product in its market and its distribution has been steadily increasing among grocery store chains nationwide. This brand represents the perfect product to utilize excess capacity at our EMC Packaging plant."
The design of the Fire 1st Defense fire extinguisher was driven by a need primarily for young children and elderly consumers to have access to a compact, lightweight and easy-to-use fire extinguisher for use in the event of a fire in the home. Fire 1st Defense contains no toxins or harsh chemicals nor does it have any pins, gauges or confusing directions. It has a spray time that is two to three times longer than competing brands of compact fire extinguishers. Additionally, the product never requires recharging where many fire extinguishers have the need to be inspected and potentially recharged annually.
To learn more about Fire 1st Defense Extinguisher, visit www.fire1stdefense.com.
About Industrial Enterprises of America, Inc.
Industrial Enterprises of America, Inc., headquartered in New York, NY, is an automotive aftermarket supplier that specializes in the sale of anti-freeze, auto fluids, charcoal fluids, and other additives and chemicals. The company has distinct proprietary brands that collectively serve the retail, professional and discount automotive aftermarket chann
A lot of hedge fund activity in IEAM recently....here are the new filings.
Capital Gaurdian Trust files 13G-they own 892K shares
Capital Group Intl. files 13G-they own 1.19 million shares
Nite Capital files 13G-they own 346K shares
http://www.pinksheets.com/quote/filings.jsp?symbol=IEAM
CNBC and Bloomberg TV will have more competition:
News Corp Announces Q4 Launch of Fox Business Channel
Posted on Feb 9th, 2007
Rupert Murdoch announced yesterday that the much-anticipated Fox Business Channel will launch in Q4 2007. The "business-friendly" channel will go head-to-head with General Electric's CNBC. News Corp. will distribute the channel to 30 million homes through arrangements with Time Warner, Comcast, Charter Communications and DirectTV. The channel will be run by Roger Ailes, chairman and CEO of Fox News. Since the shuttering of CNNfn in 2004, CNBC has had only Bloomberg Television as a competitor in cable business news. Media analysts remain to be convinced whether the market wants three 24-hour business channels, although the enormously successful Fox TV, which debuted in 1985 to compete with ABC, NBC and CBS, was initially met with similar doubts. Fox News fixture Neil Cavuto will be responsible for news coverage at the new channel. In related news, Mr. Murdoch stated that News Corp. will now turn its attention to providing TV content to be broadcast on the screens of mobile phones.
beigledog-
Yes, I was an original Ameritrade customer. When I go to "Portfolio & Accounts," then "History & Statements," I see the following:
02/02/2007 13:38:51 CASH IN LIEU OF FRACTIONAL SHARES (XAND)
Good luck
DJ newswire doesn't give anymore details than what I posted. I noticed the rating system on the Maxim Group's website -Buy, Hold, and Sell - so a "Buy" recommendation is their highest since they do not give any "Strong Buy" recommendations.
JACO Electronics 2Q Net 2c/Shr Vs Loss $1.17
Last update: 2/9/2007 6:59:25 AM
DOW JONES NEWSWIRES Jaco Electronics Inc. (JACO) said its swung to a fiscal second-quarter profit of $149,000, or 2 cents a share, from a year-ago loss of $7.4 million. or $1.17 a share. The company said the turnaround was due to its strategy of marketing product lines from core vendors as well as tight cost controls. Jaco, which distributes electronic components, said revenue for the quarter rose 37% to $66 million. The company also said it recently entered into a new credit facility that provides additional working capital and offers a lower interest rate than its previous agreement. -Simon Kennedy; 415-439-6400; AskNewswires@dowjones.com
Jaco Electronics Reports Fiscal 2007 Second Quarter Results, Its Fourth Consecutive Profitable QuarterLast update: 2/9/2007 6:37:10 AM- Net Sales Rise 37%; Gross Profit Increases 28% - HAUPPAUGE, N.Y., Feb 09, 2007 (BUSINESS WIRE) -- Jaco Electronics, Inc. (JACO): ---------------------------------------------------------------------- Conference Call: February 9, 2007 at 10:00 a.m. ET Dial-in Number: 800/263-9150 (U.S. and Canada) Webcast: Web Replay: Available for 90 days Call Replay: Available until February 11, 2007 at 12:00 p.m. ET by dialing 800/633-8284 Replay Access Code: 21328602----------------------------------------------------------------------Jaco Electronics, Inc. (JACO), a distributor and integrator of electronic components and flat panel solutions, today reported results for its fiscal 2007 second quarter ended December 31, 2006. Summary of Fiscal 2007 Second Quarter and Six Months Results ($ in thousands, except per-share data) Three Months Ended Six Months Ended Dec. 31, Dec. 31,---------------------------------------------------------------------- 2006 2005 2006 2005-------------------------------=========-=========-=========-=========Net sales $ 65,990 $ 48,108 $135,607 $100,569----------------------------------------------------------------------Gross profit 8,516 6,665 17,173 13,782----------------------------------------------------------------------Selling, general and administrative expenses 7,659 6,846 15,193 13,687----------------------------------------------------------------------Operating income (loss) 857 (181) 1,980 95----------------------------------------------------------------------Interest expense 693 552 1,540 1,119----------------------------------------------------------------------Earnings (loss) before income taxes 164 (733) 440 (1,024)----------------------------------------------------------------------Net earnings (loss) (1) 149 (7,363) 410 (7,462)----------------------------------------------------------------------Diluted net earnings (loss) per share $ 0.02 $ (1.17) $ 0.06 $ (1.19)----------------------------------------------------------------------(1) During the three months ended December 31, 2005, $6,610,500 was added to Jaco's income tax provision to reduce the carrying value of the Company's deferred tax asset to zero.Commenting on the results, Jaco's Chairman and Chief Executive Officer Joel Girsky, stated, "The fiscal 2007 second quarter marked Jaco's fourth consecutive profitable quarter and was highlighted by significant year-over-year increases in net sales and gross profit. "Jaco is achieving profitability from our strategy to focus on marketing product lines from core vendors while positioning the Company as a value-added services leader in logistics and flat panel display (FPD) design and integration. In the fiscal 2007 second quarter, net sales from each of these categories rose on a year-over-year basis. Jaco's gross profit margin remains a function of our sales mix and can vary based on quarterly fluctuations related to sales to major contract manufacturers through our logistics and inventory management programs. "Cost disciplines remain an important element in our overall business strategy and Jaco's fiscal 2007 second quarter SG&A expenses were 11.6% of net sales, down from 14.2% in the fiscal 2006 second quarter. As a result of strong top-line growth and overhead efficiency improvements, we achieved a significant improvement in operating income, turning a $181,000 operating loss in the second quarter of fiscal '06 into an $857,000 operating profit in the corresponding fiscal '07 quarter. We believe we have the right level of infrastructure to support our plans for growth and will continue to adjust sales staffing as demand and the business environment dictate. "We recently entered into a new credit facility that provides additional working capital capacity and the financial flexibility to continue pursuing our strategies for prudent expansion. In addition, the new facility provides lower interest rates than our previous credit facility that, based on current borrowing levels, are expected to reduce interest expense in the current and future periods. We will also continue to review potential opportunities that would further enhance our FPD capabilities."
New analyst coverage:
Answers Corp Started At Buy At Maxim >ANSW
Last update: 2/9/2007 7:57:36 AM
nsomniyak-TELT
I think the volume yesterday can be attributed to the pr announcing the release of their new Cerato VoIP product line. Not sure how these products will do, but it does add to their sales mix, so I see it as a positive.
I chose to include TELT.ob in my PSL5 mainly because their last earnings report looked good and I took a gamble on these improvements continuing. Third quarter operating expenses were down by $400K y/y, gross profit margins improved to 41.5% vs. 40.1%. TELT earned .04 on a sales increase of 13.3% (and up 87.3% for the year to date). As of last quarter, they had $1.1M on the balance sheet in cash, down from $1.2M a year ago. For a company that does $50 million in annual revenue, has new products coming onto the market, earned .04 last quarter, and trades at .47 w/ a $4M market cap, TELT seems like a good risk/reward opportunity to me at this level.
Caveats are 1. management did not give any indication that earnings were sustainable or likely to improve (however, TELT's management's comments always seem vague, so who knows), and 2. per the 10-Q, TELT traditionally experiences a seasonal slowdown in the 1st and 4th quarters, so the next report may not be as robust due to seasonality. We'll see. That said, TELT's market cap looks low to me, especially with these y/y improvements. May be a buy-out candidate at some point?
Teltronics Announces Third Quarter Results
Wednesday November 8, 5:40 pm ET
Operating profits increase 87.3% over 2005
SARASOTA, Fla., Nov. 8 /PRNewswire-FirstCall/ -- Teltronics, Inc. (OTC Bulletin Board: TELT - News) today announced its financial results for the three months and nine months ended September 30, 2006.
Sales for the three months ended September 30, 2006 were $12.22 million, as compared to $10.79 million reported for the same period in 2005. Sales for the nine months ended September 30, 2006 were $34.01 million, as compared to $33.52 million for the same period in 2005. Gross profit margin for the three months ended September 30, 2006 was $41.5% as compared to 40.1% for the same period in 2005. Gross profit margin for the nine months ended September 30, 2006 was 41.6%, as compared to 42.3% for the same period in 2005.
"The third quarter was very good for Teltronics. Sales increased by $1.43 million or 13.3% and we were able to reduce our operating costs by 9.2%," said Ewen Cameron, Teltronics' President and CEO. "Operating profits for the third quarter of 2006 exceeded 2005 by $1.16 million, and as a result, year to date operating profits were up by 87.3%," Cameron added.
Operating expenses for the three months ended September 30, 2006 were $4.13 million, as compared to $4.54 million for the same period in 2005. Operating expenses for the nine months ended September 30, 2006 were $12.40 million, as compared to $13.26 million for the same period in 2005. Interest costs for the three months ended September 30, 2006 were $470,000, as compared to $241,000 for the same period in 2005. Interest costs for the nine months ended September 30, 2006 were $1.08 million, as compared to $984,000 for the same period in 2005.
Net income for the three months ended September 30, 2006 was $495,000 or $0.04 per fully diluted share, as compared to $3.48 million or $0.32 per fully diluted share, for the same period in 2005. Net income for the three months ended September 30, 2005 included a $3.96 million gain on extinguishment of debt. Net income for the nine months ended September 30, 2006 was $690,000 or $0.02 per fully diluted share, as compared to a net income of $4.44 million or $0.36 per fully diluted share, for the same period in 2005. Net income for the nine months ended September 30, 2005 included $3.96 million gain on extinguishment of debt.
Net income available to common shareholders for the three months ended September 30, 2006 was $332,000, as compared to $3.32 million for the same period in 2005. Net income available to common shareholders for the nine months ended September 30, 2006 was $201,000 as compared to a net income available to common shareholders $3.95 million for the same period in 2005.
Interesting. If that is the case, RLTR does seem much more appealing as an investment. I downloaded their demo and was impressed by the quality of the streaming video. Will check out the IBox. Thanks zigbee.
zigbee, RLTR:
I like the concept but I wonder what the barriers of entry are. Is the technology they use propietary? When do they plan on adding to their limited library of titles? The Netflix CEO did a 60 minutes interview a few months back and I believe I remember him talking about getting into this space in the near future. How can RLTR distinguish itself from the bigger, well-financed rental and cable companies if this technology isn't propietary?
RGRP-initited a position today. I like the space, like the increasing contracts w/ high-profile clients, and like how News Corp. bought a stake. I see what RGRP does as a logical, progressive step for websites (and media) and their content. "ROO TV" has the potential to be big or fizzle, but their core business seems poised for amazing growth as websites look to upgrade their content. I'd prefer if RGRP were profitable, but I think this space is hot and will become hotter, and I think RGRP has a good change to be bought out by a media or advertising giant (Maybe Murdoch's NWS?)...thanks for the mention!
News Corporation Becomes a Strategic Investor in ROO Group
Monday January 29, 8:00 am ET
NEW YORK, Jan. 29 /PRNewswire-FirstCall/ -- ROO Group, Inc., (OTC Bulletin Board: RGRP - News) a global leader in online video solutions for Websites, content providers, and advertisers, today announced that News Corporation (NYSE: NWS - News, NWS.A - News; ASX: NWS - News, NWSLV - News) has become a strategic investor in the company.
Under the agreement News Corp. will receive up to a 5 percent interest of the current fully diluted shares in ROO, and up to an additional 5 percent interest upon News Corp. achieving certain revenue-based milestones in its usage of ROO's products and services or as a direct investment through an exercise of warrants.
Today's agreement solidifies ROO's ongoing relationship with News Corporation. ROO currently powers online global video content distribution and content syndication across many of News Corp's premier properties including The Times of London, and The Australian and has content syndication partnerships with FOX News Channel and Sky News.
"We are excited to be working with News Corp. to further harness the enormous opportunity of online video across its global network of prestigious media brands. We are further encouraged by News Corp's proven track record of identifying and partnering with online leaders early in their growth," said Robert Petty, CEO and Chairman of ROO.
"News Corp. looks forward to building on its successful relationship with ROO to continue the growth of News Corp's video assets in the digital marketplace," said Jeremy Philips, Executive Vice President, Office of the Chairman, News Corporation.
About ROO
ROO Group Inc. (OTC Bulletin Board: RGRP - News) www.roo.com through its 100% subsidiary ROO Media Corporation, is the online video solutions company focused on meeting the specific needs of large enterprise companies globally. The company's proprietary platform, the ROO Video Exchange, simultaneously services multiple video channels, audience segments and advertisers and, as such, has become the leading platform in content aggregation, distribution and targeted advertising. ROO's unique ability to offer a "many-to-many" service has helped secure its position as the Internet broadcast company of choice for companies seeking effective strategies for monetizing online video.
networm, sorry...
Ring The Register = RTR
www.ringtheregister.com
BLUE-I bought some yesterday when I received the RTR email recommendation. Sold out today for a nice 1-day gain. I like RTR because they have a good following and their focus tends to be on value (vs. the momo/pump sites which populate the internet).
OPBL had a strong close thanks to the briefing.com headline:
"Briefing-OPBL EPS .05 vs 01 rev +310%
Briefing.com 2/7/07
15:56 OPBL Optionable released Q4 results in an 8-K about 30 minutes ago (5.80 -0.29)
OPBL.OB released results in an 8-K about 30 minutes ago; co reported EPS of $0.05 vs $0.01 in 4Q05; revs rose 310% YoY to $6.8 mln. "
ICE and NMX both have very high trailing p/e's and forward p/e's of @ 40, so maybe people will look at OPBL's amazing rev. growth and discounted forward p/e compared to the bigger players?
OPBL news:
Optionable Inc Enters Into New Agreement With Opex International Inc
PR Newswire - February 05, 2007 16:21
VALHALLA, N.Y., Feb 05, 2007 /PRNewswire-FirstCall via COMTEX/ -- Optionable, Inc. (OTC Bulletin Board: OPBL), a leading provider of natural gas and other energy derivatives brokerage services, announced it has entered into an agreement with Opex International Inc effective January 31, 2007, to provide a floor broker on the floor of the New York Mercantile Exchange (NYMEX(TM)) to trade certain derivatives. As a result of this agreement, the Company also announced that it has terminated its agreement with Capital Energy Services (CES) effective January 31, 2007, whereby CES had provided that service previously.
President Edward O'Connor said, "We believe that this agreement with Opex International will further enhance the transparency of the Company, and it will help facilitate a higher level of control of our operations in the natural gas and crude oil brokerage business we support on the floor of the NYMEX."
The Company did not incur any early termination penalties in connection with the CES termination. The Company expects to file a Form 8-K shortly.
About Optionable, Inc.
Optionable, Inc. is a leading provider of natural gas and other energy derivatives trading and brokerage services, headquartered in Valhalla, NY. The Company provides its services to brokerage firms, financial institutions, energy traders and hedge funds nationwide. In addition to the traditional voice brokerage business, Optionable developed an automated derivatives trading platform. OPEX(R) is a real-time electronic trade matching and brokerage system designed to improve liquidity and transparency in the energy derivatives market. For more information about Optionable and OPEX please visit www.optionable.com.
KSW is starting to look attractive at these levels after trading above $7 last month. They earned .13 last quarter, reported a backlog of $100M+ in December, and have $2/cash on the balance sheet. Downside seems fairly limited in the $6.20's.
I received my "CASH IN LIEU OF FRACTIONAL SHARES (XAND)"payment in my Ameritrade Izone account on 2/02 as well
Huge gains in American wealth over the last 3 years!
Number of Millionaire Households Increases By Over 50% in Past Three Years
Friday February 2, 9:13 am ET
Phoenix Marketing International Research Shows Strong Growth in Numbers of Wealthy Households in the U.S. Since 2003
RHINEBECK, N.Y., Feb. 2 /PRNewswire/ -- The latest data from Phoenix Marketing International's Affluent Marketing Service (AMS) reveals that the number of millionaire households in the U.S. now stands at 5.4 million, soaring 56% since 2003. The Phoenix study defines a "millionaire" household as one having at least $ 1 million in liquid or "investable" assets.
"The extraordinary gains in the millionaire households population in the past three years is a function of their asset allocations and access to products that can maximize market gains," states David M. Thompson, Vice President at Phoenix Marketing International. Indeed, their growth in numbers has eclipsed that of the S&P 500, which gained nearly 30% from mid-year 2003 to mid-year 2006.
The Phoenix data also points to strong growth in even wealthier households. The number of Penta-Millionaire households, those having at last $5 million or more in liquid wealth, has grown to 755,000 nationally, an increase of 47% since 2003.
About The Phoenix Affluent Marketing Service (AMS) Program
The Phoenix Affluent Marketing Service (AMS) program, the largest syndicated study of the affluent market, is a continuously fielded survey of affluent and high net worth households throughout the U.S. The AMS provides an ongoing summary of affluent and high net worth household investment, financial and affluent lifestyle behaviors and attitudes.
For more information about the AMS program, contact David Thompson at 860.651.8400 or by email at David.Thompson@PhoenixMI.com. Or visit the Phoenix Marketing International web site at www.phoenixmi.com.
About Phoenix Marketing International
Founded in 1999, Phoenix Marketing International is one of the fastest growing marketing services firms and partner to many of the largest companies in the financial services, consumer package goods, automotive, travel and leisure, and pharmaceutical industries worldwide. Phoenix also offers advanced advertising and brand measurement along with direct marketing expertise. Phoenix has offices in Rhinebeck (NY), Somerset (NJ), Detroit, Boston, Salisbury (MD), Chicago, Los Angeles, Tampa, Miami, and Durham, North Carolina. Phoenix offers a unique combination of industry expertise, methods and consulting services, combining primary and syndicated marketing research expertise with database analytics and modeling proficiency. Applying this information assists clients in improving profit dynamics of their business.
Bobwins: FYI - Victory Nickel will begin trading on the TSX under the ticker symbol Ni on or about February 6, 2007. Maybe one to keep an eye on?
Nuinsco Shareholders Overwhelmingly Approve Creation of Victory Nickel Inc.
Monday January 29, 12:30 pm ET
99.77% of shares voted in favour of spinning out Minago, Mel & Lac Rocher as pure nickel company
TORONTO, ONTARIO--(CCNMatthews - Jan. 29, 2007) - Nuinsco Resources Limited ("Nuinsco" or the "Company")(TSX:NWI - News; www.nuinsco.ca) today announced that the shareholders of Nuinsco overwhelmingly approved the previously announced plan of arrangement (the "Arrangement") involving Nuinsco and a new company, Victory Nickel Inc. ("Victory Nickel"). Of the votes cast at Nuinsco's Special Meeting of Shareholders on January 26, 2007, 99.77% were in favour of the Arrangement. Nuinsco and Victory Nickel have agreed to complete the Arrangement pursuant to which, on the terms and subject to the conditions set out in the arrangement agreement, Nuinsco's interest in the Minago, Mel and Lac Rocher sulphide nickel projects together with approximately $12,000,000 in cash will be transferred to Victory Nickel.
The completion of the Arrangement is conditional upon, among other things, the approval by the Ontario Superior Court of Justice and receipt of all other regulatory and third-person consents and approvals required in connection with the Arrangement, including for the transfer by Nuinsco of the mineral resource property interests to Victory Nickel. The Company is scheduled to appear before Ontario Superior Court of Justice on February 1, 2007. Assuming all further approvals are received, the Company expects Victory Nickel shares will begin trading on the TSX under the ticker symbol Ni on or about February 6, 2007.
Upon completion of the Arrangement, Nuinsco will continue to hold a 25% interest in Victory Nickel, mineral resource property interests located in Canada and Turkey which include the Diabase Peninsula and Prairie Lake uranium projects and Cameron Lake gold project in Canada and the Berta copper-gold and Elmalaan copper-zinc projects in Turkey, along with an equity interest in copper and gold producer Campbell Resources Limited. Nuinsco will continue to be well financed with cash on hand of approximately $8,000,000.
"We are very pleased to report that our shareholders agree with management that the creation of Victory Nickel represents a first step in releasing asset values. We believe that Victory Nickel will become Canada's next major nickel company," said Rene Galipeau, Vice-Chairman and CEO of Nuinsco. "We will continue to advance the assets of both Nuinsco and Victory Nickel with aggressive exploration and development programs which should generate positive results and a steady news flow throughout 2007."
About Nuinsco Resources
Nuinsco is a growth-oriented, multi-commodity mineral exploration and development company that is prepared for production and focused on growth through nickel, copper, zinc, uranium and gold exploration and development in world-class mineralized belts in Canada and Turkey. Shares of Nuinsco trade on the Toronto Stock Exchange under the symbol NWI.
CNRD news:
Conrad Industries Announces New Contracts for 26 New Barges
PR Newswire - February 01, 2007 17:35
MORGAN CITY, La., Feb 01, 2007 /PRNewswire-FirstCall via COMTEX/ -- Conrad Industries, Inc. (OTC Pink Sheets: CNRD) announced today the signing of four contracts for the construction of 26 barges totaling $10.3 million. The contracts with several repeat customers are for the construction of two 120'x30'x7' shale barges, twenty-one 120'x30'x7' deck barges, one 195'x35'x10'6" deck barge, and two 214'x42'x12' 8,500 bbl. double skin tank barges. Two of the contracts include options for six additional 120'x30'x7' deck barges and two additional 214'x42'x12' 8,500 bbl. double skin tank barges.
Johnny Conrad, President and CEO stated, "We are pleased to announce the addition of these core jobs to our backlog. These 26 barges will be constructed at our Morgan City and Amelia yards and are projects that are similar to others that we've previously built. With these additions, our current backlog is approximately $83.0 million compared to $35.4 million at December 31, 2005."
Conrad Industries, Inc., established in 1948 and headquartered in Morgan City, Louisiana, designs, builds and overhauls tugboats, ferries, liftboats, barges, offshore supply vessels and other steel and aluminum products for both the commercial and government markets. The company provides both repair and new construction services at its four shipyards located in southern Louisiana and Texas.
hweb2-
daytraders had a field day w/ the small Chinese stock IMOT today, driving it up 178%. FRLK was getting pumped on TheLion.com today by the IMOT crowd. I suspect this accounts for FRLK's monstrous (probably one day) gain....
OT: MasterPicker1 - Global Warming plays
you might find something attractive in these links:
http://energy.seekingalpha.com/article/21778
http://biz.yahoo.com/seekingalpha/061206/21870_id.html?.v=1
Looks like TRCI lost $800K after a 1-time gain, or about (.14) vs .14. Revenues declined 22% y/y. The stock is still trading near $5. Anyone think this is a good short at these levels?
Technology Research Corporation Reports Third Quarter Financial Results
Wednesday January 31, 8:00 am ET
CLEARWATER, Fla.--(BUSINESS WIRE)--Technology Research Corporation ("TRC"), (NASDAQ:TRCI - News), today announced revenues and earnings for its third fiscal quarter ended December 31, 2006.
Revenues were $8.8 million compared with $11.4 million reported in the same quarter last year, a decrease of 22%. Net income for the third fiscal quarter ended December 31, 2006 was $2.4 million compared with net income of $.8 million for the fiscal quarter ended December 31, 2005. Diluted income per share is $.41 for the current quarter compared with diluted income per share of $.14 for the same quarter last year.
Robert S. Wiggins, Chairman of the Board said, "The third quarter settlement of the patent infringement law suit against Tower Manufacturing Corporation was a significant event concluding the successful defense of our intellectual property. As a result of the settlement, the Company recorded $3.2 million in pre-tax income during the third quarter, received a payment of $1.5 million early in the fourth fiscal quarter with the remaining $1.7 million balance to be paid over the following two year period, and TRC will no longer incur the very high legal bills related to this law suit." Wiggins continued, "I reassumed the duties of CEO and President in August 2005 until such time as a new Chief Executive Officer had been hired. I am pleased that the Board has recently concluded this search. Earlier this month Owen Farren, an experienced industry executive with extensive managerial and operational skills, joined TRC as President and Chief Executive Officer. Going forward, Owen will be providing release commentary on behalf of the company." Wiggins added, "Our third quarter was challenging with revenues declining $2.5 million from the comparable prior year period, largely due to competition in the RAC market from off shore, low cost manufacturers. In addition, higher operating expenses due in part to high infringement law suit related legal fees resulted in third quarter operating income being $1.1 million lower than in the third quarter of the prior year. However, with the $3.2 million lawsuit settlement, TRC's third quarter net income of $2.4 million improved $1.6 million from the prior year's third quarter. The Company's balance sheet remains steady with cash and cash equivalents increasing $.4 million over the previous quarter."
The third quarter dividend of $.02 per share was paid on January 19, 2007 to shareholders of record on December 29, 2006.
Quarterly News
Technology Research Corporation and Tower Manufacturing Corporation settled, on mutually agreeable terms, their civil actions filed in the United States District Court for the Middle District of Florida and the United States District Court for the District of Rhode Island, respectively. Under the terms of the settlement, both cases were dismissed and royalty-bearing cross licensing arrangements were entered into under Tower's 5,943,199 patent and TRC's 6,292,337 patent. The net effect for each party's past sales impact resulted in TRC receiving $3.2 million paid over a two-year period.
TRC is an internationally recognized leader in electrical safety products that prevent electrocution and electrical fires and protect against serious injury from electrical shock. Based on its core technology in ground fault sensing, products are designed to meet the needs of the consumer, commercial and industrial markets worldwide. The Company also supplies power monitors and control equipment to the United States Military and its prime contractors.
CML.V - I saw this news on the wires and figured I'd post it here for you metalheads....
Crowflight-Xstrata Nickel Amend the Terms of Thompson Nickel Belt Agreements, Sign Offtake Agreement for Treatment of Bucko Deposit Concentrate
TORONTO, ONTARIO -- (MARKET WIRE) -- January 31, 2007 -- CROWFLIGHT MINERALS INC. (Crowflight, the Company) (TSX VENTURE: CML) is pleased to announce that the Company, having substantially fulfilled its earn-in commitments which would have permitted it to have earned an initial 50% interest in the Bucko Lake Nickel Deposit under the terms of an Agreement between Crowflight and Falconbridge Limited, dated March 2006 (refer to press release dated April 6, 2006), has under the terms of recently signed amended Agreements with Xstrata Nickel, the right to: (1) earn a 100% interest in mining lease ML-031 which contains the Bucko Lake Nickel Deposit and a 5.5 kilometre area surrounding the Bucko Deposit; and (2) earn a 100% interest in all of approximately 400 square kilometres of advanced-stage exploration ground previously the subject of the separate Thompson Nickel Belt (TNB) South and TNB North Agreements (refer to Figure 1 - Location Map). In a related transaction, the Company has agreed to a definitive offtake agreement to sell its Bucko Lake Nickel Deposit concentrates to Xstrata Nickel for the duration of the mine life, currently anticipated to be approximately six years.
Thomas Atkins, President and CEO of Crowflight commented on the Company's announcements stating: "Following extensive discussions, the terms of the amended agreements provide attractive win-win opportunities for both companies. Crowflight is pleased to have an offtake agreement for the treatment of the Bucko Lake nickel concentrates at what we are confident are competitive terms. The ability to earn a 100% interest in the Bucko Deposit mining lease, sooner than had existed under the previous agreement, allows Crowflight to more effectively secure capital to develop the Bucko Nickel Deposit as promptly as possible and in so doing provide nickel concentrate feed to Xstrata. Revisions to terms of the exploration properties gives Crowflight and Xstrata Nickel excellent exposure to new discoveries which have the potential to supplement production at Bucko, support another new operation similar in size to Bucko, or in the event of a large-scale discovery, provide Xstrata with the leverage to discovery of the size it seeks while permitting both companies to share in this large-scale upside potential."
Shaun Usmar, Chief Financial Officer of Xstrata Nickel added: "Xstrata is impressed by the dedication and professionalism of the Crowflight team as they've independently advanced the development of the Bucko Deposit and the manner in which they have collaborated with their counterparts at Xstrata Nickel in progressing the Thompson Nickel Belt regional exploration programs. It's a result of this performance and commitment that we're pleased to offer these amendments to Crowflight and to enter into the offtake agreement for the purchase of the Bucko Lake nickel concentrate. We wish Crowflight success going forward in their endeavors in the Thompson Belt and we look forward to the continuation of our productive relationship."
Right to Earn a 100% Interest in the Bucko Lake Nickel Deposit
Under the terms of the jointly signed Bucko Lake Deposit Lease Transfer Agreement, Crowflight has the right to earn a 100% interest in the Bucko Lake Nickel Deposit Mining Lease, ML-031 following its having completed its expenditure commitments and having completed a Bankable Feasibility Study of a technical standard acceptable to a bank in the context of financing such a project's development. On the exercise of its rights Crowflight is to issue 2,000,000 shares to Xstrata Nickel, subject to regulatory approval. The issuance of these share were a condition dating back to the original and amended versions of the Agreement governing the Bucko Deposit and Mining Lease.
Crowflight's 100% interest in ML-031 is subject to an Back-in Right whereby should Crowflight outline a Threshold Deposit - a new Deposit (outside of the currently known Bucko Resources) exceeding 200,000,000 pounds of nickel in Measured and Indicated Resources - Xstrata Nickel has the right to Back-in for a 50% interest and to become the operator of the new Threshold Deposit by paying to Crowflight an amount equal to the aggregate of all direct expenditures which were incurred by Crowflight in carrying out Mining Operations on the Bucko Lake Lease outside of the Bucko Resource Block prior to the date of exercise of the Back-in Right. The Bucko Lake Deposit currently contains Measured and Indicated Resources of approximately 110,000,000 pounds of nickel (refer to press release dated December 7, 2006).
Right to Earn a 100% Interest in the Thompson Nickel Belt Exploration Properties
Under the terms of a jointly signed Exploration Agreement, Crowflight has the right to earn a 100% interest in both the Thompson Nickel Belt (TNB) North and TNB South Exploration Properties comprising the second largest land position held by a company in the TNB and of which includes approximately 440 square kilometres of advanced-stage exploration ground. Crowflight will earn an initial 35% interest upon its expenditure of $7.2 million in exploration activities on the combined TNB Exploration Properties (TNB North and/or TNB South at Crowflight's discretion) no later than December 31, 2009 and will earn a 100% interest upon its expenditure of a further $6.0 million in exploration activities on the combined TNB Exploration Properties no later than December 31, 2013.
Crowflight's 100% interest in the Exploration Properties is subject to a Back-in Right whereby should Crowflight outline a Threshold Deposit or Deposits, each of which exceed 500,000,000 pounds of nickel in Measured and Indicated Resources, Xstrata Nickel has the right to Back-in for a 50% interest and become the operator of the Threshold Deposit or Deposits by incurring Expenditures on the Property in an amount equal to two times the aggregate of all Expenditures which were incurred by Crowflight in carrying out Mining Operations on the Property prior to the Back-in provided that if Xstrata Nickel exercises more than one Back-in Right, then in calculating the required Back-in Expenditures for each subsequent Back-in Right Expenditures relating to any previously exercised Back-in Right are excluded from such Expenditure calculation.
Definitive Offtake Agreement
Based on the results of a feasibility study concluded in December 2005 (refer to press release dated December 16, 2005), the Bucko Lake Nickel Deposit has the potential to produce on average approximately 35,000 tonnes of nickel in concentrates annually with annual contained equivalent of 12.5 million pounds of nickel. Crowflight has entered into a life of mine contract with Xstrata Nickel for the purchase of 100 percent of the nickel concentrate over the current approximate 6 year life of the mine, once in production. Terms of the definitive offtake agreement are a Schedule to the Bucko Lake Deposit Lease Transfer Agreement.
Crowflight - Canada's Next Nickel Producer
Crowflight Minerals Inc. is a Canadian junior mining exploration and development company listed on the TSX Venture Exchange. The company is focused on nickel, copper and Platinum Group Mineral ("PGM") projects in the Thompson Nickel Belt ("TNB") and Sudbury Basin. The company currently owns and/or has under option approximately 600 square kilometres of exploration and development properties in Manitoba and Ontario.
In Manitoba, these properties include: (1) the Bucko Lake Nickel Deposit; (2) an earn-in option with Xstrata Nickel on five highly prospective properties (Bucko/Bowden, Resting Lake, Rock Island Lake, Halfway Lake and Gonlin Lake) on the TNB South Project located within 30 kilometres of the Bucko Deposit; (3) six additional properties (Burntwood River, Birchtree South, Birchtree North, Airport, Moak Lake and Strong Lake) located 100 kilometres to the north on the TNB North Project; and (4) a 100% interest in the Clarke Lake property comprising approximately 100 square kilometres of recently staked ground south and adjacent to the TNB South Project Area.
In the Sudbury Basin, these properties include: (1) the 100% owned AER Kidd Project adjacent to Inco's Totten Deposit (10.1 million tonnes grading 1.5% nickel, 2.0% copper and 4.8 g/t PGM's); (2) the 100% owned Peter's Roost Property, being explored under a joint venture agreement with Wallbridge Mining Co. Ltd.; and (3) the Airport Property (a 50/50 joint venture with Millstream Mines Ltd.) located 4 kilometres south, and on-strike, with Falconbridge's Nickel Rim South Deposit (13.2 million tonnes grading 1.7% nickel, 3.5% copper and 4.1 g/t PGM's).
Further information is available on the Company's web site at www.crowflight.com.
Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements. The Company cautions investors that the projections for increases to the Indicated Resources are based on Inferred Resources. There is no certainty that these projections will be added to the Indicated Resources or that they will be economically viable.
Total Shares Outstanding: 198.5MM
Fully Diluted: 233.2MM
52-Week Trading Range: C$0.18 - $0.54
To view a property location map of the Thompson Nickel Belt, Manitoba please click the link below:
http://www.ccnmatthews.com/docs/cml131.pdf
--------------------------------------------------------------------------------
Contacts:
Crowflight Minerals Inc.
Thomas Atkins
President and CEO
(416) 861-5900
(416) 861-8165 (FAX)
Website: www.crowflight.com
Ascenta Capital
Bruce Korhonen
(604) 684-4743 ext 230
SOURCE: Crowflight Minerals Inc.
It appears CPTC is starting to get it's feet off the ground.
Composite Technology Signs Distribution Deal for China
PR Newswire - January 31, 2007 08:05
Three Year Distribution Agreement Sets Minimum Purchases and Terms for Future Stranding of ACCC Core
IRVINE, Calif., Jan 31, 2007 /PRNewswire-FirstCall via COMTEX/ -- Composite Technology Corporation (CTC) (OTC Bulletin Board: CPTC) is pleased to announce that its subsidiary, CTC Cable Corporation has signed a long term distribution and manufacturing agreement with Far East Composite Technology Company, a subsidiary of Jiangsu New Far East Cable Corporation (Far East).
The agreement takes effect immediately and includes two recently announced orders totaling 424 kilometers of ACCC conductor valued at approximately $7 Million. The non-returnable minimum quarterly distribution amounts for the first year are 600 kilometers per quarter, and escalate to 900 and 1200 kilometers per quarter in each succeeding year. Other terms include favorable progress payments, shipment within 100 days of order placement, and a defined path for Far East to become a qualified stranding source for ACCC in China within one year. More detailed information will be included in a form 8K that will be filed later.
Marvin Sepe, President of CTC Cable, stated, "We are pleased to formalize this relationship with the Far East Group. Far East has believed in CTC's ACCC technology for a long time and has been instrumental in establishing CTC's market in China. By setting defined minimum ACCC purchases, typically representing approximately $10 million per quarter, we believe that this distribution agreement will provide a more consistent manufacturing load for our Irvine operations and stranding sources, and which we believe will produce predictable positive cash flows for our cable operations." Initially Far East will purchase finished ACCC conductor for exclusive distribution within certain provinces in China where Far East has already established excellent working relationships with a number of power bureaus. Under other provisions of the agreement Far East will begin qualification to strand CTC's ACCC core for sale in China under a license agreement. Mr. Sepe added, "The execution of this agreement clearly demonstrates to us Far East's understanding and commitment that CTC's ACCC conductor technology will play a major role in the modernization of the Chinese power grid by increasing efficiency and capacity."
Benton Wilcoxon, CEO commented, "This relationship represents our participation in a very dynamic Chinese economy, for which State Grid has estimated annual transmission and distribution expenditures in excess of $16 billion. The continued acceptance of our technology will provide tremendous opportunity to grow our international business as grid operators around the world become increasingly aware of the value proposition our ACCC cable offers for constrained power grids."
About Far East:
Jiangsu New Far East Cable Corporation and its subsidiary, Far East Composite Technology Company, is located in Yixing City, Jiangsu, China. Far East is one of China's leading manufacturers of electrical transmission and distribution cable, which it sells to China's regional power grids through 200 local distributors.
About CTC:
Composite Technology Corporation, based in Irvine, California, USA develops, manufactures and sells high performance electrical transmission and renewable energy generation products through its subsidiaries
Almost 1M shares traded today. This might explain why (someone posted this on the IEAM ragingbull.com board):
By: kern585
29 Jan 2007, 05:00 PM EST
Msg. 38 of 38
Jump to msg. #
Coverage
I talked to Investor Relations today. Last Friday, a small firm that puts out research for institutional clients put out a report on IEAM. That must account for the recent action. He also said that the Nasdaq application for listing seems to be moving along smoothly, but no date yet. We know it's cheap and the market is starting to believe that too
Some good info on how PIPE's work in this recent Forbes article...doesn't mention Cornell but they are similar to Lazarus:
http://www.forbes.com/home/free_forbes/2007/0212/064.html
OPBL - looks like the "OTC Speculator" lowered his price target expectations after some further thought...
http://otcspeculator.blogspot.com/index.html
HRBN approved for NASDAQ
Harbin Electric Announces Approval for Listing on NASDAQ Global Market
PR Newswire - January 26, 2007 08:30
HARBIN, China, Jan 26, 2007 /Xinhua-PRNewswire-FirstCall via COMTEX/ -- Harbin Electric, Inc. (OTC Bulletin Board: HRBN), announced today that its common stock has been approved for listing on the NASDAQ Stock Market. The Company expects to commence trading on the NASDAQ Global Market on Wednesday, January 31, 2007 under the ticker symbol "HRBN." Until that time, the Company's shares will continue trading on the OTC Bulletin Board. The NASDAQ Global Market, formerly the NASDAQ National Market, includes approximately 1,450 companies.
"We are proud to meet the strict requirements for listing on the NASDAQ Global Market, which reflects the significant progress we have achieved in growing our business and delivering strong financial results," commented Tianfu Yang, Chairman and CEO of Harbin Electric Inc. "We believe that a listing on NASDAQ will increase our visibility, strengthen our shareholder base and enhance shareholder value."
Mr. Yang continued, "2007 will be a year in which Harbin Electric penetrates new markets, develops new products, and continues to gain share within current customers while continuing our expansion into the international marketplace. Achieving a NASDAQ listing was a major goal for us during the first half of 2007 and we are excited to have accomplished this early in the year. I would like to express my appreciation to our Board of Directors, experienced management team and dedicated employees for this significant corporate achievement."
Here is the response I received....
"It appears that your shares of Pegasus Communications (XAN) underwent a recent 1 for 100 reverse split, effective 1/10/2007. At this time, we have received a preliminary indication from the company that shareholders of less than 100 shares were set to receive cash in lieu of their shares.
Regrettably, at this time we have not received the cash from the issuing company. Once we receive the funds we will promptly post the funds to your account. Typically, cash in lieu payments occur in the 2 to 3 weeks following the effective date for the split."