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R59, w/ SVL's y/y eps more than doubling, do you think the stock will now qualify for the IBD Under $10 list? If so, those crazy momo guys could definitely drive this one up to $6+. Otherwise, based on their revised '06 eps guidance of .53-.56, and most (timeshare) industry comparables trading at no more than a 10 p/e, SVL might not see more than the $5's this year. Would you agree? I have a few lowball bids in the $3 just in case it trends back down as I feel the $3's would present a good buy based on guidance.
OT: Weird stuff going on w/ my brokerage account.
To my alarm and amazement, I noticed my Ameritrade Izone account reflected a long position of 332 shares of COST (Costco) this morning. Never have I bought long, sold short, bid on, or even thought of bidding on this stock in my life, yet I somehow now owned $18,000 worth. I went through all my filled ordered over the last month and found no record of any COST trades. I wrote a nasty email to Izone demanding to know what was up, followed by an even nastier note after waiting 4 hours for a response that never came. Finally I received an email of apology from a Senior Client Service Representative informing me that they are aware of this "issue" and are working to reverse this "error." Thankfully, they have since fixed the error and I am no longer a COST stockholder, and my 18K has been placed back into my cash balance. I am usually a fan of Ameritrade and Ameritrade Izone, but the magnitude of the error and their lax response didn't sit well with me. Also, they wouldn't elaborate on why this error happened in the first place. Anyway, I'd thought I'd share this. MORAL TO THE STORY: Scrutinize your accounts! Technology is only human.
SVL - Great quarter. 1Q EPS 16c V. 6c, Rev $45.7M v. $42.1M, guiding for 53c to 56c for the year.
Silverleaf Resorts, Inc. Reports First Quarter 2006 Results
Business Wire - May 02, 2006 08:39
DALLAS, May 02, 2006 (BUSINESS WIRE) -- Silverleaf Resorts, Inc. (AMEX:SVL) today announced its financial results for the first quarter ended March 31, 2006.
2006 First Quarter Financial Highlights:
-- Vacation Interval sales increased by 37.6% to $41.5 million
-- Net income increased by 146.4% to $6.2 million
-- Adoption of SFAS No. 152, "Accounting for Real Estate Time-Sharing Transactions," results in new income statement categories
-- Earnings guidance for 2006 increased to net income of $21 million to $22 million ($0.53 to $0.56 per diluted share)
"It is gratifying to see the momentum in 2005 carry into the first quarter of 2006, as we reported significantly better results this quarter compared to the same period last year," commented Sharon K. Brayfield, President. Ms. Brayfield further commented, "Our Vacation Interval sales growth during the first quarter is attributed primarily to increased efficiencies in sales to new and existing customers. Our focus will continue to be on sales to existing customers while providing new vacation experiences, such as the indoor water park we plan to build at The Villages Resort in East Texas and the recent acquisition of The Pinnacle Lodge in Winter Park, Colo. In addition, new sales initiatives, such as the Silverleaf Vacation Stores in the Dallas and Chicago markets as well as targeted acquisitions, will help us to continue to grow sales to new customers."
Adoption of SFAS No. 152:
As required, the Company adopted SFAS No. 152, "Accounting for Real Estate Time-Sharing Transactions" as of January 1, 2006. The adoption of SFAS No. 152 prospectively revises the classification of certain revenue and cost activity. However, the adoption of SFAS No. 152 did not have a material effect on our reported first quarter 2006 net income, nor did it result in a cumulative effect adjustment.
Since SFAS No. 152 did not permit the reclassification of our prior period consolidated financial statements, we have provided a Consolidated Statements of Operations Demonstrating the Impact of Adoption of SFAS No. 152 exhibit to provide users of our financial statements with a meaningful comparison of current year operating results to prior years by presenting a comparison of the Company's results as reported and as its results would have been reported had SFAS No. 152 not been adopted.
2006 First Quarter Results:
Vacation Interval sales increased 37.6% to $41.5 million during the first quarter of 2006 compared to $30.1 million during the first quarter of 2005. Vacation Interval sales to new customers increased 33.2% to $20.0 million on a 6.8% increase in new customer tours. Vacation Interval sales to existing customers increased 41.9% to $21.5 million on a 1.2% increase in existing customer tours.
Total revenue for the first quarter of 2006 increased to $45.7 million compared to $42.1 million in the year ago quarter. Total revenue in the first quarter of 2006 is decreased by estimated uncollectible revenue of $7.2 million in accordance with SFAS No. 152, representing estimated future gross cancellations of notes receivable prior to any recoveries of inventory. In addition, under SFAS No. 152, sampler sales are accounted for as incidental operations, which requires that any such incidental revenues be recorded as a reduction of incremental costs or expenses. Accordingly, $0.8 million of sampler sales, which would have been reported as revenue prior to adoption of SFAS No. 152, were accounted for as a reduction to sales and marketing expense in the quarter ended March 31, 2006. Had these two changes mandated by SFAS No. 152 not been made, revenues would have increased by 27.4% to $53.6 million.
Sales and marketing expense decreased to 46.4% of Vacation Interval sales for the first quarter of 2006 from 57.0% for the first quarter of 2005. Had sales and marketing expense not been reduced by sampler sales, as described above, sales and marketing expense would have been 48.2% of Vacation Interval sales.
Cost of Vacation Interval sales decreased to 10.1% of Vacation Interval sales in 2006 from 15.7% in 2005, due predominantly to the requirement under SFAS No. 152 that cost of sales be reduced by the estimated future recoveries of inventory, as described above. Without this change, cost of vacation interval sales would have been 14.4% of Vacation Interval sales for the quarter ended March 31, 2006.
As required by SFAS No. 152, in 2006 there is no longer a cost and operating expense for the provision for uncollectible notes as it is now replaced by the estimated uncollectible revenue offset to sales and corresponding decrease in cost of sales described above. Without this change, the first quarter 2006 provision for uncollectible notes expense would have been $5.4 million, or 13.0% of 2006 Vacation Interval sales, compared to $5.3 million for 2005, or 17.5% of Vacation Interval sales.
During the first quarter of 2006, Silverleaf recorded income tax expense at 38.5% of pre-tax income, compared to 20.0% of pre-tax income in the first quarter of 2005. The increase in the estimated effective income tax rate is due to the transition in 2005 from fully reserved net deferred tax assets at December 31, 2004 to net deferred tax liabilities at December 31, 2005. Income tax expense for 2006 is therefore recorded at full statutory rates.
Net income for the quarter ended March 31, 2006 increased to $6.2 million, or $0.16 per diluted share compared to net income of $2.5 million, or $0.06 per diluted share for the quarter ended March 31, 2005.
Outlook
Due primarily to increased sales efficiencies achieved in the first quarter of 2006, the Company is increasing its guidance for 2006 to net income of $21 million to $22 million ($0.53 to $0.56 per diluted share).
NXG reports .10 v. (.05).
Northgate Reports Strong First Quarter Earnings and Record Quarterly Cash Flow of $43.5 Million
Monday May 1, 8:38 pm ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--May 1, 2006 -- (All figures in US dollars except where noted)
Northgate Minerals Corporation (TSX:NGX.TO - News)(AMEX:NXG - News) today reported cash flow from operations before changes in working capital and other items of $43,505,000 or $0.20 per share and net earnings of $21,735,000 or $0.10 per share for the first quarter of 2006.
First Quarter Production and Financial Highlights
- Production of 77,634 ounces of gold and 22.3 million pounds of copper.
- The net cash cost of gold production at the Kemess mine was a record low of $27 per ounce.
- Record quarterly cash flow from operations before working capital and other items of $43.5 million.
- Quarterly earnings of $21.7 million or $0.10 per common share.
- During April 2006, Northgate repurchased 25,000 ounces of its gold forward sales position reducing its total position by 17%.
- Northgate fixed the price it will receive for its first quarter copper sales at $2.32 per pound and all future copper production remains fully exposed to changes in the price of copper.
- On February 15, 2006, Northgate repaid the remaining principal on its syndicated credit facility.
Ken Stowe, President and CEO, stated; "Gold and copper production at Kemess unfolded as planned in the first quarter of 2006, generating a record low cash cost of $27 per ounce and record quarterly operating cash flow. Since the end of March, the prices for our commodities have escalated well beyond the average values we saw in the first quarter, so I anticipate that our financial performance in future quarters of this year should be even stronger. At the end of the day though, it will be our successful redeployment of the tremendous cash flow that the Kemess mine generates that will be the ultimate measure of our success. The recently announced acceleration of the Young-Davidson project represents our first substantial new investment in a gold project and we remain highly focused on identifying other investment opportunities that will further enhance shareholder value."
RESULTS OF OPERATIONS
Northgate recorded net earnings of $21,735,000 or $0.10 per common share in the first quarter of 2006 compared with a loss of $10,393,000 or $0.05 per share during the corresponding quarter of 2005. Per share data is based on the weighted average diluted number of shares outstanding of 215,092,200 in the first quarter of 2006 and 200,508,289 in the corresponding period of 2005.
Kemess Mine Performance
The Kemess mine posted gold and copper production of 77,634 ounces and 22.3 million pounds respectively in the first quarter of 2006. This production was slightly greater than the production forecast released in January due to higher than expected hypogene ore grades and the postponement of the supergene-leachcap ore processing campaign to the beginning of the second quarter.
During the first quarter of 2006, approximately 10.0 million tonnes of ore and waste were removed from the open pit compared to 13.3 million tonnes during the corresponding quarter of 2005. The reduction in mining volumes is consistent with the scheduled reduction in waste stripping at the Kemess South pit and will become even more pronounced by 2007. Unit mining costs during the current quarter were Cdn$1.38 per tonne compared with Cdn$1.07 per tonne in the first quarter of 2005. The unit mining cost in the most recent quarter was substantially higher than it was in the corresponding quarter of 2005 due primarily to the escalation in unit costs that occurs naturally as the pit deepens and fewer tonnes are moved using the same complement of mobile equipment. Higher diesel fuel prices also contributed to the increase. In the first quarter of 2006, two million tonnes of waste rock was moved back into the east end of the open pit as part of ongoing reclamation plan for the mine.
Mill availability during the first quarter of 2006 was 90% and throughput averaged 48,545 tonnes per day, compared with 85% availability and throughput of 44,780 tonnes per day in the first quarter of 2005. Throughput and mill availability in the first quarter of 2005 was impacted by the unscheduled five-day shutdown in February and the processing of harder ore from the eastern end of the open pit.
Gold and copper recoveries averaged 74% and 86% respectively in the first quarter of 2006, compared with 63% and 81% respectively in the first quarter of 2005. The near record metal recoveries recorded in the most recent quarter were the result of the inherently better metallurgical characteristics of the ore in the western area of the Kemess South pit and the success of several recently completed flotation circuit improvement projects, which have improved the stability of the circuit and increased metal recoveries.
Metal concentrate inventory increased by 3,000 wet metric tonnes (wmt) in the first quarter to approximately 9,500 wmt, which increased the value of concentrate in inventory compared with December 31, 2005. Concentrate inventories are expected to decline to less than 4,000 wmt by the end of May.
The total unit cost of production during the first quarter of 2006 was Cdn$8.46 per tonne milled which was somewhat lower than the Cdn$8.68 per tonne milled in the corresponding period of 2005. Total site operating costs in the first quarter of 2006 were Cdn$37.0 million compared with Cdn$35.8 in the first quarter of 2005. The slight increase in total site operating costs was due to increased costs for fuel, steel and labour, which was only partially offset by reductions in waste stripping. The cash cost of production at Kemess in the first quarter was $27 per ounce of gold. This figure was substantially lower than the $366 per ounce figure reported in the first quarter of 2005 due to the large increase in gold and copper production and the substantial increase in the copper price, which offset the slight increase in site costs, the adverse effect of the stronger Canadian dollar and the increase in treatment and refining charges for concentrate.
The following table provides a summary of operations for the first quarter of 2006 and the comparable period of 2005.
2006 Kemess Mine Production
(100% of production basis) 1Q 06 1Q 05
---------------------------------------------------------
Ore plus waste mined (tonnes) 10,036,939 13,276,636
Ore mined (tonnes) 5,273,672 4,528,776
Stripping ratio (waste/ore) 0.903 1.93
Tonnes milled (ore) 4,369,022 4,030,173
Average mill operating rate (tpd) 48,545 44,780
Gold grade (gmt) 0.751 0.621
Copper grade (%) 0.270 0.203
Gold recovery (%) 74 63
Copper recovery (%) 86 81
Gold production (ounces) 77,634 50,540
Copper production (000's pounds) 22,282 14,677
Cash cost ($/ounce) 27 366
---------------------------------------------------------
Overall safety performance at Kemess during the first quarter continued at last year's much improved pace, however, one lost time incident was recorded. Management continues to stress the "Five Point Safety System" and is confident of making further gains on the safety front as the year progresses.
Financial Performance
Northgate's revenue in the first quarter of 2006 was $85,059,000 compared with $42,559,000 in the corresponding period in 2005. Consistent with the presentation adopted in the fourth quarter of 2005, the 2005 comparative figures reflect the reclassification of a variety of costs that were previously netted against revenues into cost of sales. These costs included royalties, concentrate treatment and refining charges, concentrate freight charges, and metal deductions. Metal sales in the first quarter of 2006 consisted of 73,873 ounces of gold and 21.3 million pounds of copper, compared with 51,174 ounces of gold and 15.0 million pounds of copper in the first quarter of 2005. During the first quarter of 2006, the price of gold on the London Bullion Market averaged $554 per ounce and the price of copper on the London Metal Exchange averaged $2.24. The net realized metal prices received on sales in the first quarter of 2006 were approximately $516 per ounce of gold and $2.32 per pound of copper, compared with $375 per ounce and $1.48 per pound in the first quarter of 2005. In the first quarter of 2006, the Corporation did not reduce its gold forward sales position compared with a reduction of 21,750 ounces during the same period of 2005. However, $2,814,000 of the deferred hedging loss set up in the second quarter of 2005, when certain gold forward sales contracts were closed out prior to their original settlement dates, was amortized and included in revenue during the quarter. The Corporation's gold hedging activities reduced the realized price of gold sold during the most recent quarter by $38 per ounce, compared with $52 per ounce in the corresponding quarter one year ago. The remaining deferred hedging loss of $1,747,000, related to the close out of forward sales contracts in the second quarter of 2005, will be brought into earnings in the second quarter of 2006 when the related forward sale contracts were originally scheduled for settlement. In the first quarter of 2006, the Corporation entered into forward sales and purchase contracts with a major financial institution to fix the price of copper delivered prior to March 31, 2006 for which final settlement has not occurred. A total volume of 9,550 metric tonnes of copper were sold forward using LME contracts maturing from May 2006 through August 2006 at an average forward price of $2.32 per pound.
The cost of sales in the first quarter of 2006 was $48,170,000 compared with the corresponding period last year when the cost of sales was $40,437,000. The cost of sales in 2005 reflects the reclassification of certain marketing costs that were previously netted against revenues, as described earlier in this section. Cost of sales was higher in the most recent quarter than it was in the corresponding periods of 2005 due to higher treatment, refining and freight charges for concentrate, the strengthening Canadian dollar, and increased Canadian dollar denominated production costs.
Administrative and general expenses of $3,135,000 in the first quarter of 2006 were higher than the $2,559,000 figure recorded in the comparable period of 2005 due primarily to an increase in the Corporation's stock option expense.
Depreciation and depletion expenses in the first quarter were $9,971,000 compared to $8,390,000 during the corresponding period of 2005. The depreciation and depletion expense for the most recent quarter was higher than the same quarter one year ago due to a 5% increase in the amount of ore mined from the open pit and an increase in the amortization rate resulting from 2005 capital investments.
Net interest expense declined substantially to $25,000 for the three months ended March 31, 2006 compared to $552,000 in the corresponding quarter of 2005. On February 15, 2006, Northgate made the final repayment on its syndicated credit facility. With its debt retired and as a consequence of its large and growing cash balances, Northgate expects to record substantial interest income in future quarters.
Exploration costs in the first quarter were $944,000 compared with $393,000 in the comparable period of 2005. The higher exploration expense in the most recent quarter was the result of the initiation of a diamond drilling program in January 2006 at the recently acquired Young-Davidson property. Exploration expenses will increase this summer when diamond drilling begins at the Kemess camp and the RDN joint venture property.
Capital expenditures during the first quarter of 2006 totaled $1,936,000 compared to $3,496,000 in the corresponding period of 2005. Capital expenditures in the most recent quarter were primarily devoted to ongoing construction of the tailings dam and the Kemess North project, whereas expenditures in the first quarter one year ago included additional amounts devoted to the purchase of small equipment for the Kemess mine and the mill.
Annual General Meeting Webcast:
You are invited to participate in the Northgate Minerals Corporation (TSX:NGX.TO - News)(AMEX:NXG - News) live Annual General Meeting webcast where we will discuss our Q1 2006 financial results and our priorities and plans for 2006. The webcast will take place on Wednesday, May 3, 2006, at 10:00 am ET. Northgate's presentation package for the webcast will be uploaded for the morning of May 3 and posted on Northgate's web site at www.northgateminerals.com under Investor Info - Presentations page.
To view the webcast, go to www.northgateminerals.com and follow the link on the home page that says "webcast". Before viewing the webcast, please ensure that your system meets the Minimum System Requirements and that you have installed Windows Media Player. If you do not have high- speed internet access, please download the PDF version of our Management Presentation and follow along with the audio broadcast.
For those shareholders and stakeholders who do not have web access, you may access the audio portion of the Annual General Meeting via telephone by calling 416-695-5259 or toll free in North America at 1-800-769-8320. To ensure your participation, please call five minutes prior to the scheduled start of the meeting. The archived meeting may be accessed by dialing 416-695-5275 or 1-888-509-0081, and entering pass code 618070.
Northgate Minerals Corporation is a gold and copper mining company focused on operations and opportunities in the Americas. The Corporation's principal assets are the 300,000-ounce per year Kemess South mine in north-central British Columbia, the adjacent Kemess North deposit, which contains a Proven and Probable Reserve of 4.1 million ounces of gold and the Young-Davidson property in northern Ontario with a total resource base of 1.5 million ounces of gold. Northgate is listed on the Toronto Stock Exchange under the symbol NGX and on the American Stock Exchange under the symbol NXG.
Thanks for posting on PGPM, KIK. I picked up a token amount at .011, just in case there was anything to those numbers. So far, Wow! Certainly hype could drive this a lot higher, whether the projections are real or not. 4 cents is still eons away from $33, and for that reason, I'm holding to see how high it can go. Good luck
JOB posts Q2 .03 vs. Nil. 5% increase in revenue. I wonder what they will do w/ that 90 cents in cash on the balance sheet?
General Employment Reports Second Quarter Results
PR Newswire - April 27, 2006 17:10
OAKBROOK TERRACE, Ill., April 27, 2006 /PRNewswire-FirstCall via COMTEX/ -- General Employment Enterprises, Inc. (Amex: JOB) reported net income of $175,000, or $.03 per share, for the quarter ended March 31, 2006, compared with net income of $21,000 for the same quarter last year.
The Company's consolidated net revenues for the quarter were $5,000,000, up 5% from $4,752,000 for the same quarter last year. Placement service revenues of $2,315,000 were up 17%, while contract service revenues of $2,685,000 decreased 3%.
Commenting on the Company's performance for the quarter, Herbert F. Imhoff, Jr., board chairman and CEO, said, "Since 2004, there has been a growing demand for the Company's placement services. We saw this trend continue during the second quarter, as the number of placements increased by 11% and average fees rose by 8% over the prior year, resulting in a 17% improvement in placement service revenues. The average contract hourly billing rate increased by 5% during the second quarter. However, this was offset by a 9% decrease in billable hours, and resulted in lower contract service revenues for the period."
Six Months Results
For the six months ended March 31, 2006, the Company had net income of $303,000, or $.06 per share, a 116% increase compared with net income of $140,000, or $.03 per share, for the same period last year. Consolidated net revenues for the six-month period were $9,713,000, up 1% compared with $9,634,000 last year.
There was no provision for income taxes in either year, because of the availability of losses carried forward from prior years.
Concluding his comments, Mr. Imhoff said, "I'm pleased by the Company's improved performance this year and expect to see continuing increases, particularly in placement services. Overall, we believe fiscal 2006 should be another good year for General Employment."
Business Information
This news release contains forward-looking statements that are based on management's current expectations and are subject to risks and uncertainties. Some of the factors that could affect the Company's future performance include general business conditions, the demand for the Company's services, competitive market pressures, the ability of the Company to attract and retain qualified personnel for regular full-time placement and contract assignments, and the ability of the Company to attract and retain qualified corporate and branch management.
General Employment provides professional staffing services through a network of 19 branch offices located in 10 states, and specializes in information technology, accounting and engineering placements. The Company's shares are traded on the American Stock Exchange under the trading symbol JOB.
GENERAL EMPLOYMENT ENTERPRISES, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
(In Thousands, Except Per Share)
Three Months Six Months
Ended March 31 Ended March 31
2006 2005 2006 2005
Net revenues:
Contract services $ 2,685 $ 2,771 $ 5,323 $ 5,730
Placement services 2,315 1,981 4,390 3,904
Net revenues 5,000 4,752 9,713 9,634
Operating expenses:
Cost of contract services 1,902 1,977 3,758 4,060
Selling 1,420 1,257 2,690 2,411
General and administrative 1,554 1,510 3,056 3,056
Total operating expenses 4,876 4,744 9,504 9,527
Income from operations 124 8 209 107
Investment income 51 13 94 33
Net income (1) $ 175 $ 21 $ 303 $ 140
Average number of shares:
Basic 5,148 5,141 5,148 5,139
Diluted 5,328 5,383 5,351 5,390
Net income per share -
basic and diluted $ .03 $ -- $ .06 $ .03
(1) There was no provision for income taxes in either year, because of the
availability of losses carried forward from prior years.
GENERAL EMPLOYMENT ENTERPRISES, INC.
SUMMARIZED CONSOLIDATED BALANCE SHEET INFORMATION
(In Thousands)
March 31 September 30
2006 2005
Assets:
Cash and cash equivalents $ 5,143 $ 5,236
Accounts receivable, net, and
other current assets 2,694 2,496
Total current assets 7,837 7,732
Property and equipment, net 585 632
Total assets $ 8,422 $ 8,364
Liabilities and shareholders' equity:
Current liabilities $ 2,269 $ 2,514
Shareholders' equity 6,153 5,850
Total liabilities and shareholders' equity $ 8,422 $ 8,364
CFK EPS C.47 v C.32, Revs. C176M v C128M. Good quarter but Q2 might not be great:
Outlook
-------
The second quarter represents spring breakup in Canada as warm weather returns and the winter's frost comes out of the ground rendering many secondary roads incapable of supporting heavy equipment until the roads have dried out. As a result activity levels and the Company's revenue are expected to decline dramatically during the second quarter.
Strong commodity prices continue to support high demand for CE Franklin's products and services in Canada. Many industry watchers are predicting high levels of activity to continue through the third and fourth quarters of 2006. As a result, CE Franklin management remains optimistic regarding the continuation of strong demand for the Company's products and services in Canada.
CE Franklin is committed to outperform market activity.
ASPN - I noticed CEO Cohen only sells shares at or above $5, which I think is a deliberate attempt on his part to not spook investors by dumping at any price. He seems to have a methodical and disciplined approach to all he does, which I think is good for shareholders.
RGMI was picked by www.streetcorporal.com Monday night as their pick. They have 600 members that receive the "new pick alert" via email, and I guess I am one of them, even though I don't remember signing up. I would guess some of this newfound attention is partly do to their endorsement.
Chromium picolinate the next calcium??? Read below...
MSGI's NXXI up today on CEO hire and bullish comments. I agree that this one could really take off as their high margin proprietary products find customers in the likes of Walmart, CVS, Rite Aid etc...My only concern would be that 1. new studies would show chromium picolinate (Diachrome, Chromax) not as effective in treating diabetes as previous studies had, or 2. other compounds of chromium picolinate not under NXXI's patent protection became more popular (either by being more effective or less expense to consumers). Nevertheless, NXXI is my favorite zipcoder at the moment. Thanks to MSGI for mentioning it. Anyone else like its potential?
Paul Intlekofer Elected CEO of Nutrition 21
Wednesday April 26, 1:47 pm ET
PURCHASE, N.Y.--(BUSINESS WIRE)--April 26, 2006--Nutrition 21, Inc., (NASDAQ: NXXI - News) today announced that its Board of Directors has elected Paul Intlekofer as president and chief executive officer. Mr. Intlekofer has been serving as chief financial officer and senior vice president of corporate development since January 2003 and most recently was elected chief operating officer in November 2005.
"Paul Intlekofer's proven leadership and strategic vision have been the driving force behind the company's current transition toward becoming a supplier of branded finished products addressing therapeutic markets," said John Gutfreund, Chairman of the Board. "Mr. Intlekofer possesses a unique mix of strategic vision, passion and operational discipline that has served and will continue to serve Nutrition 21 well. The Board is confident that Mr. Intlekofer is the right person to realize the potential of Nutrition 21."
"I am honored to be selected CEO," said Intlekofer. "I know first hand that we have great products that address significant and growing markets. Over the past several years we've made a considerable investment in research to clinically validate our proprietary technologies. We recently built out an experienced and talented sales and marketing team to capitalize on these findings. Their contribution and pace of execution gives me great confidence in the long-term future and growth of the company."
Since January of 2006, the Company has secured distribution for its Chromax® chromium picolinate in Wal-Mart, Rite Aid, Albertsons, Kroger and another major drug chain. The Company expects to have full nationwide distribution in these and over 90 percent of food, drug and mass outlets by the end of the summer. The Company is also working with the retailers to create an Insulin Health end-benefit destination on the shelf for chromium picolinate similar to Bone Health for calcium.
"With an aging baby boomer population and the rise of obesity there are tens of millions of adults concerned with their blood sugar and cholesterol levels and their risk for developing heart disease and type 2 diabetes. As a natural solution for managing insulin, Chromax can become an everyday product similar to calcium. In the U.S. alone, calcium accounts for $1 billion in retail stand-alone sales," added Intlekofer.
Nutrition 21 also recently secured a commitment from CVS/pharmacy for Diachrome, a non-prescription nutrient based insulin sensitizer for people with type 2 diabetes. The Company expects to have full nationwide distribution of Diachrome with the major drug chains by the Fall to coincide with the publication of its recently completed study with XLHealth.
"The key to success for Diachrome is to secure endorsement and recommendation from pharmacists and healthcare providers. We've taken considerable steps to substantiate Diachrome's health benefits and the early results indicate that physicians are impressed with Diachrome's efficacy and safety. We have developed an innovative marketing strategy that will leverage the managed care/disease management information infrastructure to communicate the benefits of Diachrome to the healthcare community," said Intlekofer.
LTFD-insider buying is usually good, but CEO Minch wants ownership of more than half the company. Are people viewing this as a potential danger?
Posted by: NLionGuy
In reply to: None
Date:4/26/2006 11:52:19 AM
Post #of 16
Minch has filed a form 13d today:
I intend to acquire in excess of 50% of the issuer’s outstanding common stock in transactions priced at levels I find to be attractive. It is anticipated that such purchases will be open market transactions and I may utilize financing. I may, from time to time, dispose of shares of the issuer.
He presently holds 33.89%
This morning was the first time in over a week I was able to short ERS in my Ameritrade Izone account. I must have just picked the right time when a few were available. I thought about starting a short position in TZOO, but they had no shares. It seems Ameritrade might not be the best broker to short through...?
Speaking of shorting, I shorted some more ERS today through Ameritrade. I wish I had waited to start my short position at $44 instead of $34!
VPHM news a/h. Gross margins to improve on Vancocin starting during the second half of 2006.
ViroPharma Announces Approval of Third Party Manufacturing and Supply Chain for Vancocin
PR Newswire - April 19, 2006 16:30
EXTON, Pa., April 19, 2006 /PRNewswire-FirstCall via COMTEX/ -- ViroPharma Incorporated (Nasdaq: VPHM) today announced the successful completion of the finished goods technology transfer from Eli Lilly and Company to OSG Norwich Pharmaceuticals, Inc., the company's third party Vancocin(R) manufacturer. Norwich has begun manufacturing batches of product for release into the market. ViroPharma has also reached an agreement with, and validated, Alpharma Inc., the company's third party supplier of the active pharmaceutical ingredient for Vancocin. With this, the company has now completed validation of its third party supply chain for Vancocin, which is indicated for the treatment of antibiotic-associated pseudomembranous colitis caused by Clostridium difficile.
"This is a great step forward for ViroPharma and the patients we serve," commented Josh Tarnoff, ViroPharma's Chief Commercial Officer. "Vancocin is a product that addresses a life-threatening condition, and is a difficult product to manufacture to necessary specifications to ensure stability and potency. The validation of the supply chain represents the successful conclusion of nearly two years of diligent work by ViroPharma, Eli Lilly and Norwich."
As previously described, ViroPharma anticipates improvements in gross margins, due to the qualification of this third party supply chain, beginning in the second half of 2006, as product manufactured in the Lilly facility is pulled through the channel.
C. difficile is a bacterium, which under certain circumstances, typically after antibiotic therapy, can colonize the lower gastrointestinal tract where it may produce toxins which cause inflammation of the colon and diarrhea, and the associated complications of disease, including death. Advanced age, gastrointestinal surgery/manipulation, long length of stay in healthcare settings, a serious underlying illness and compromised immunity are conditions associated with increased risk of disease. According to the CDC, there are approximately 3,000,000 cases of antibiotic-associated diarrhea per year; 15 to 25 percent are caused by C. difficile.
AVSO news out on a aquisition which will "immediately increase Avatech's revenues as well as increase our profitability."
Avatech Solutions and Sterling Systems Intend to Combine; Acquisition Will Strengthen Avatech's Nationwide Reach
Business Wire - April 07, 2006 09:00
BALTIMORE & MADISON HEIGHTS, Mich., Apr 07, 2006 (BUSINESS WIRE) -- Avatech Solutions, Inc. (OTCBB:AVSO), the recognized leader in design and engineering, product lifecycle management, and facilities management solutions, and Sterling Systems and Consulting, the dominant design solutions provider in the upper Midwest, today announced that they have signed a letter of intent whereby Avatech will acquire Sterling Systems.
Founded in 1990 by principal Bruce White, Sterling Systems provides computer software and services for the civil engineering, manufacturing, and architectural industries. It has built a reputation for outstanding customer service with long-term client relationships. Sterling Systems has offices in Detroit, Indianapolis, Chicago, Cleveland, and Columbus.
"The addition of Sterling Systems and their dedicated team of experienced design industry professionals will add seasoned resources to our rapidly growing team, enabling us to serve more customers from more locations," said Scotty Walsh, Avatech's CEO.
"Our team is enthusiastic about joining forces with Avatech," said Bruce White. "With the resources of a dominant player in the design automation industry, we expect to accelerate growth and offer our customers access to an even greater breadth of solutions."
"Mergers and acquisitions are integral to Avatech's growth strategy," said Walsh. "From a financial point of view, the merger would immediately increase Avatech's revenues as well as increase our profitability."
The letter of intent reflects the agreement in principle of the parties to proceed to negotiate a definitive agreement. Closing is contingent upon numerous conditions, including approval by both companies' Boards of Directors and Sterling's owners, execution of definitive merger documents, financing arrangements, satisfactory due diligence, and other conditions.
About Avatech Solutions
Avatech Solutions, Inc. (OTCBB:AVSO) is the recognized leader in design and engineering technology with unparalleled expertise in design automation, data management and process optimization for the manufacturing, engineering, building design and facilities management markets. Headquartered in Owings Mills, Maryland, the company specializes in consulting, software systems integration and implementation, standards development and deployment, education, and technical support. Avatech is one of the largest integrators of Autodesk software worldwide and a leading provider of PLM solutions. The company's clients include industry leaders from Fortune 500 and Engineering News Record's Top 100 companies.
Visit www.avatech.com for more information.
About Sterling Systems
Founded in 1990, Sterling Systems & Consulting, Inc. is a leading provider for CAD and design technologies in the United States. Sterling Systems is known for delivering complete technology solutions including training, implementation, customization as well as software and hardware solutions. The company is headquartered in Madison Heights, MI with several regional offices.
EZEN has no debt and their cash position of $9.4 million equates to .645/share. Based on yearly EPS of .24, and backing out the cash on the balance sheet, you arrive at a P/E of 12.3. Considering income from operations grew by 94.3% this year, I'd say a premium P/E is justified. I tend to think EZEN still looks like a decent value stock in the mid-3's, especially considering what multiples similar companies trade at.
ViroPharma Comments on Vancocin
EXTON, Pa., March 17, 2006 /PRNewswire-FirstCall via COMTEX/ -- ViroPharma
Incorporated (Nasdaq: VPHM) today made the following statements about
Vancocin(R):
We were informed yesterday that the Office of Generic Drugs, Center for Drug
Evaluation and Research ("OGD"), may have changed its approach regarding the
conditions that must be met in order for a generic drug applicant to request a
waiver of in vivo bioequivalence testing for Vancocin. Specifically, we were
informed that a generic applicant may be able to request such a waiver provided
that dissolution testing demonstrates that the test product is rapidly
dissolving at certain specified conditions. This deviates from our understanding
of OGD's practices which would require, for a non- absorbed GI drug, a
demonstration of bioequivalence through clinical studies or a demonstration of
bioequivalence using an appropriately validated in vitro methodology.
We have attempted to contact OGD, but been unable to confirm this directly with
it. Nonetheless, we feel that it is important to note that, if such a change in
FDA's approach has occurred:
- The change would have been made in the absence of any public
discussion and, significantly, without seeking input from FDA's own
expert Advisory Committee on this important issue;
- We believe that there are important safety and scientific issues that
the FDA must consider before making such an important change in its
requirements for bioequivalence data; and
- We strongly disagree with both the manner in which this change in
approach was developed, as well as the substance of the approach which
ignores the need to demonstrate bioequivalence for a non-systemically
absorbed drug. We will vigorously oppose at FDA this attempt to
radically restrict the data on which FDA would make vancomycin capsule
bioequivalence decisions. Vancocin combats a serious, and potentially
life threatening, disease. In this context, we believe that the
uncertainties of dissolution-only bioequivalence are simply
unacceptable.
C. difficile is a bacterium, which under certain circumstances, typically after
antibiotic therapy, can colonize the lower gastrointestinal tract where it may
produce toxins which cause inflammation of the colon and diarrhea, and the
associated complications of disease. Advanced age, gastrointestinal
surgery/manipulation, long length of stay in healthcare settings, a serious
underlying illness and compromised immunity are conditions associated with
increased risk of disease. According to the CDC, there are approximately
3,000,000 cases of antibiotic-associated diarrhea per year, of which 15 to 25
percent are caused by C. difficile.
Shorted some INTN above $6. This Chinese company reported an aweful quarter 2/13 with revs down significantly y/y, and reported a loss vs. a gain....yet the stock has moved up from $4 to $6+ in the last week on no news???
FRD finally pr'd their results, 24 hours after the 10Q was filed. Getting a little pop on the news.
Friedman Industries, Incorporated Announces Third Quarter Results
Business Wire - February 15, 2006 15:08
HOUSTON, Feb 15, 2006 (BUSINESS WIRE) -- Friedman Industries, Incorporated (AMEX:FRD), a Houston-based company engaged in pipe manufacturing, steel coil processing and steel and pipe distribution, announced today its results of operations for the third quarter. Net earnings for the quarter ended December 31, 2005 were $1,668,687 ($0.23 per share diluted) on sales of $44,527,263. During the quarter ended December 31, 2004, net earnings were $1,220,609 ($0.16 per share diluted) on sales of $43,434,081.
SUMMARY OF OPERATIONS(unaudited)
Three months ended Dec. 31, Nine months ended Dec. 31,
--------------------------- ---------------------------
2005 2004 2005 2004
-------------- ------------ ------------- -------------
Net sales $44,527,263 $43,434,081 $133,314,893 $137,370,026
Total costs
and expenses 41,884,175 41,486,414 126,319,119 129,294,116
-------------- ------------ ------------- -------------
Earnings
before income
taxes 2,643,088 1,947,667 6,995,774 8,075,910
Income taxes 974,401 727,058 2,627,213 2,975,339
-------------- ------------ ------------- -------------
Net income $1,668,687 $1,220,609 $4,368,561 $5,100,571
-------------- ------------ ------------- -------------
Average number
of common
shares
outstanding:
Basic 7,151,014 7,480,467 7,143,503 7,548,704
Diluted 7,258,567 7,736,885 7,261,022 7,759,235
Net income per
share
Basic $0.23 $0.16 $0.61 $0.68
Diluted $0.23 $0.16 $0.60 $0.66
SOURCE: Friedman Industries, Incorporated
WAG - March 1st, 11:42 PM
Thanks
AEY Q1 EPS .15 vs. .13
1Q Net $1.74M Vs $1.51M, +15%
1Q Rev $14.8M Vs $12.3M, +20%
Knowledge is King, I noticed RTNC had some interesting a/h news.
Any thought on this RTNC/BTUI deal?
BTU International to Acquire Product Lines and Related Assets of Radiant Technology Corporation
Business Wire - February 07, 2006 18:30
NORTH BILLERICA, Mass. & FULLERTON, Calif., Feb 07, 2006 (BUSINESS WIRE) -- BTU International, Inc. (Nasdaq NM: BTUI), a leading supplier of advanced thermal processing equipment for the electronics manufacturing and energy generation markets, and Radiant Technology Corporation (OTC: RTNC), a leading supplier of in-line near infrared furnaces and dryers primarily used in the solar energy industry, today announced that they had entered into a purchase and sale agreement under which BTU will acquire the product lines, trademarks and other related assets of Radiant Technology Corporation (RTC).
The purchase price for the acquisition is as follows: 1) $ 500,000 in cash and 100,000 shares of BTU common stock, of which 30,000 shares are contingent upon RTC's successful achievement of certain non-financial performance criteria; 2) Royalty payments on any products using the RTC technology manufactured by BTU for a period of 4 years. In addition, the parties would enter into a supply agreement under which RTC would continue to manufacture its products for distribution by BTU after the closing.
According to Paul van der Wansem, chairman and CEO of BTU International, "BTU will assume overall responsibility for the products in terms of cost reductions, the development of new products, as well as worldwide commercialization and customer support."
"The inclusion of the RTC products within the BTU family of products will allow for a stronger competitive position in the global marketplace. In addition, the RTC technology and products provide a good fit with BTU's strategic expansion of the energy generation segment of our business and strengthens our position in the photovoltaic market. This will enable both parties to capitalize on the opportunities ahead," said van der Wansem.
This acquisition is subject to customary closing conditions, including approval by RTC's shareholders. BTU anticipates that the acquisition will close by early March.
Sounds like a private placement may be in the works? Any thoughts?
This is a good article appearing in the Boston Globe yesterday...thought some here might like it:
http://www.boston.com/news/globe/editorial_opinion/oped/articles/2006/02/05/we_are_all_danes_now/?p1...
Celticherb-you might find this link useful...and also check out the link "More Tax Tips for Day Traders" within the text.
http://taxes.yahoo.com/tips/invest/daytrader.html
The IRS doesn't make it easy to achieve "trade status," and doesn't give us "investors" much of a break - sorry. Also, if you haven't been paying quarterly estimated taxes and you have capital gains from 2005, be prepared to pay a penalty (@ 4-5%, I think). A tax preparer or accountant could better advise you...
I look at value in terms of EPS, not P/S. Congrats on hitting $10.75 intraday. Looks like its $9.50 AH after the earnings report.
Sento Corp 3Q Oper EPS 5c. Nice turnaround but looks expensive.
Sold my SFCC as it looks fairly valued now. I wish I picked up more shares last month!
CAMH. I bought some at .29 in early December, and sold for .37 a week later. Apparently the train was just leaving the station because CAMH hit $1.07 today! ARGGGG. I forget who mentioned this one, but I hope you held on longer than I did. Great pick!
FPB - +.71 to $6.60. Strong sales at the New York National Boat Show last week.
Fountain Powerboats Signs More Than $3 Million in New Orders at New York National Boat Show; Orders for Another $5 Million Pending
Tuesday January 17, 9:45 am ET
WASHINGTON, NC--(MARKET WIRE)--Jan 17, 2006 -- Fountain Powerboat Industries, Inc. (AMEX:FPB - News), a leading manufacturer of high performance sport boats, fish boats and express cruisers, announced that is has taken orders in excess of $3 million, with orders for another $5 million pending, at the New York National Boat Show, held last week at the Jacob Javits Convention Center in New York City, New York.
"We are pleased to kick off the new year with a strong performance at our industry's most historic boat show," commented Fountain Powerboat Chief Executive Officer and President Reginald M. Fountain, Jr. "Every dollar invested in our aggressive marketing and advertising programs pays for itself when we write $8 million in new orders during a boat show. We will continue our branding programs with the launching of two new fishing tournaments -- one on Long Island, NY, and one on Staten Island, NY, and with our continued sponsorship of the APBA-SPI Off-shore Racing Organization, American Striper Association and Southern Kingfish Association tournaments."
During the week-long show, over 1,000 new boats were on display for the more than 75,000 attendees. Fountain's 47' Lightning sports boat was a highlight of the show, drawing huge crowds to the Fountain Booth. On hand to meet and greet the attendees were Fountain CEO Reggie Fountain, Jr., Executive Vice President David Knight, and Northeast Regional Sales Manager Charles Arnold. Fountain's team was assisted by 16 sales representatives from three Fountain Powerboat authorized dealerships, East Coast Flightcraft, Coty Marine, and Mariner's Cove.
"It was exciting to see firsthand the effectiveness of the education and training our dealers received from Fountain University," said David Knight, Executive Vice President for Fountain. "When asked about our extensive product line, our sales representatives displayed a high degree of confidence and knowledge -- which translated directly into sales."
The Fountain University program, first introduced in the second quarter of 2005, includes a three-day interactive product and sales workshop addressing subjects such as 'How to Apply Features and Benefits,' 'Selling in Today's Environment,' 'How to Overcome Objections and Close the Sale.' Attendees also received in-water high performance boat training by professional drivers giving instruction on the correct methods for demonstrating Fountain cruisers, fish boats and sport boats for potential customers. The in-water training also covers the multi-step delivery process to ensure that every dealer can properly deliver a Fountain boat to its new owner.
SVL: fyi, looks like the SVL Yahoo message board is up and running. Hard to believe this stock may fall into the $2's after recently trading above $4. SVL is one of the best values right now, imo, especially for a listed stock.
FPB-reiterates $80 million rev. guidance. Hosting CC. Sounds good...
Fountain Powerboats Announces Second Quarter Financial Results Conference Call
Wednesday January 11, 9:45 am ET
Company Reiterates Revenue Guidance of $80 Million for Fiscal 2006 and Continued Profitability Trend
WASHINGTON, NC--(MARKET WIRE)--Jan 11, 2006 -- Fountain Powerboat Industries, Inc. (AMEX:FPB - News), a leading manufacturer of high performance sport boats, fish boats and express cruisers, announced today that it will hold a conference call to review financial results for its second quarter ended December 31, 2005. The call will be held on Thursday, February 9, 2006, at 11:00 a.m. Eastern Standard Time.
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"We invite all shareholders and members of the investment community to participate in our upcoming financial conference call," said Fountain Powerboat Chief Financial Officer Irving Smith. "Given our significant sales backlog of more than $48 million and a strong showing last week at the New York National Boat Show, we anticipate continued profitability and reiterate our revenue guidance of $80 million for fiscal 2006."
The toll-free conference call dial-in number for U.S. callers is 800.936.9754. The dial-in number for international callers is 973.935.2048. The passcode is 6915653. Please dial in to the conference five minutes before the call is scheduled to begin. An audio replay of the conference call will be available from February 9 through 16, 2006, and can be accessed by dialing 877.519.4471 in the U.S., or 973.341.3080 from outside the U.S., and entering passcode 6915653.
Additionally, the conference call is being webcast by ViaVid Communications and can be accessed by visiting http://viavid.net/dce.aspx?sid=00002C68 or Fountain Powerboat's web site, www.fountainpowerboats.com.
Smith added that the company will provide the investment community with a detailed update from the New York National Boat Show in the coming week.
HCAR looks cheap at $1.16. Any thoughts on this one?
Silverleaf Resorts, Inc. Announces Financing Developments
Business Wire - December 22, 2005 17:51
DALLAS, Dec 22, 2005 (BUSINESS WIRE) -- Silverleaf Resorts, Inc. (AMEX:SVL) announced today that it has entered into an Inventory Loan Agreement and Receivables Loan Agreement with Wells Fargo Foothill, Inc. ("Wells Fargo Foothill"). Silverleaf will use the loan proceeds for general working capital purposes.
Under the terms of the new Inventory Loan Agreement, Silverleaf may borrow up to $15 million, which will be secured by a portion of Silverleaf's inventory of unsold timeshare intervals. The Inventory Loan Agreement will mature on December 31, 2010 and bear interest annually at prime rate plus 2%, with a floor of 6%. Under the terms of the Receivables Loan Agreement, Silverleaf may from time to time borrow up to an aggregate of $50 million, which will be secured by notes receivable from timeshare interval purchasers at an advance rate of up to 75% of the aggregate outstanding principal balance of all eligible notes receivable pledged as security. The Receivables Loan Agreement will mature on December 31, 2011 and bears interest at prime rate plus 0.5%, with a floor of 6%.
Sharon K. Brayfield, president of Silverleaf Resorts stated, "We are continuing to see solid demand for our vacation intervals. This transaction provides us with the financial flexibility to expand our operations at existing resorts and support our future growth opportunities."
Concurrently, the Company entered into an agreement to terminate its revolving receivables and inventory credit facilities with Sovereign Bank. The receivables facility was originally scheduled to cease revolving in March 2006, and both the receivables and the inventory facilities were scheduled to mature in March 2009.
I picked up a few shares of SFCC at 12.88 this morning. There was a negative article about their business practices in Bloomberg recently, which caused a major selloff. Then a few skeletons in the closet were exposed pertaining to a couple of key manager's backrounds, causing further declines. However, SFCC sure looks cheap here if they can meet their '06 guidance. A shake-up in management would also help. SFCC looks risky but cheap....
SFBC Int'l Sees Revenue Gains in 2006
Thursday December 15, 8:44 am ET
SFBC International Cuts 2005 Outlook, Sees 2006 Revenue Up at Least 8 Percent
MIAMI (AP) -- SFBC International Inc., a research firm that conducts clinical trials for biotech and pharmaceutical companies, cut its profit expectations for this year on Thursday but issued 2006 guidance within reach of Wall Street' expectations, forecasting revenue growth of at least 8 percent.
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SFBC also announced that its independent counsel has finished investigating allegations about the company's clinical trial practices in response to articles published by Bloomberg Market Magazine and concluded that the central theme of the articles is "wholly unsupported."
Citing lower than expected revenue, the company cut its 2005 earnings estimate to $1.56 to $1.61 per share down from a previous forecast of $1.66 to $1.72 per share. Excluding items, SFBC forecast earnings of $1.88 to $1.93 per share, down from $1.96 to $2.02 per share.
Analysts, on average, are looking for adjusted earnings of $1.92 per share for the year, according to Thomson Financial.
SFBC also narrowed its full-year estimate for direct revenue to $329 million to $330.5 million, from $325 million to $335 million forecast in November.
Chief Executive Arnold Hantman, in a statement, said the company saw lower gross profit margins for its business in Miami during the third quarter on lower revenue than expected. The shortfall, which Hantman said was exacerbated by bad publicity from the Bloomberg articles, also carried into the fourth quarter.
The articles questioned the company's practices, including the use of poor immigrants to participate in clinical trials for pharmaceutical clients.
The U.S. Senate's finance committee has asked SFBC to meet with the panel to discuss the allegations by Friday, and SFBC said Thursday that it plans to provide the senators with results of the internal inquiry.
SFBC shares jumped $2.44, or 13.8 percent, in trading before the markets open after closing at $17.66 on the Nasdaq Wednesday.
Looking ahead to 2006, SFBC forecast earnings of $1.80 to $1.86 per share, on a net basis, or $1.93 to $1.99 per share, excluding items. It pegged 2006 revenue at $355 million to $363 million, reflecting an increase of 7.5 percent to 10 percent from the mid-point of its 2005 annual guidance.
The analyst consensus estimate calls for 2006 earnings of $1.97 per share, excluding items, on revenue of $377.4 million.
re: ERI - someone on the www.marketwatch.com ERI message board spoke w/ Randy Foote, Emrise' CFO, this afternoon. Foote couldn't account for the high volume decline today, so hopefully this downtrend will be short-lived.
http://www.marketwatch.com/discussions/msgReader.asp?siteId=mktw&parentId=2&forumId=9&bo...
gilead23-I bought some ERI this morning. The stock should do well in 2006 if they come close to hitting their guidance. Thanks for the mention...
VPHM, C-diff related article:
http://abcnews.go.com/Health/wireStory?id=1364208&page=1
ANII may see some short-term downward pressure starting tomorrow if CDGD shareholders sell their freely tradable ANII shares....
Advanced Nutraceuticals, Inc., Announces Share Distribution Increasing Shareholder Base
Wednesday November 30, 9:00 am ET
DENVER, Nov. 30 /PRNewswire-FirstCall/ -- Advanced Nutraceuticals, Inc. (OTC Bulletin Board: ANII - News) announced that the approximate 420,523 common shares of ANII owned by Cambridge Holdings, Ltd. (OTC Bulletin Board: CDGD - News; "Cambridge") will be distributed on or about December 2, 2005, to the approximate 1,100 Cambridge shareholders. The distribution of ANII common shares will be made on a pro rata basis to Cambridge shareholders of record on November 22, 2005. Fractional shares will be rounded down to the nearest whole share, if any, and no fractional shares will be distributed or paid. As a result of the prior registration of these ANII shares, they will be freely tradable when distributed. The distribution will not change the approximate 4,662,000 total outstanding common shares of ANII.