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Scorpex, Inc. (SRPX) Provides Investors with Update on Audit and Financials
Scorpex, Inc., an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region, just announced additional details of the previously reported initiative to prepare its financials for a formal audit. An SEC accredited audit will raise the Company’s status to “Fully Reporting” while increasing transparency for both current and future investors.
As announced two weeks ago, Scorpex has engaged the services of the Acadia Group to prepare for its audit and the filing of financial reports with the U.S. Securities and Exchange Commission (“SEC”) pursuant to the Securities Exchange Act of 1934. The Acadia Group provides publicly traded small-cap companies with both accounting and legal services internationally. It is anticipated that the audit will be completed in the fourth quarter of this year.
Chief Executive Officer Joseph Caywood stated, “By becoming a fully-reporting company, the Company will achieve its goal of providing shareholders with increased transparency while elevating itself in the market as a public entity to more qualified investor groups. Following completion of the audit, we plan to take the next step of listing on a senior securities exchange as we move toward meeting other criteria of the exchange.”
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BioDelivery Sciences International, Inc. (BDSI) Launching ONSOLIS in Canada
BioDelivery Sciences International Inc. is a specialty pharmaceutical company that is commercializing new applications of proven applications. The company is currently focusing its efforts in the areas of pain management and oncology supportive care.
The company today announced that the commercial launch and availability of ONSOLIS (fentanyl buccal soluble film) in Canada will occur this quarter. ONSOLIS is approved in the US and Canada for the management of pain in opioid tolerant, adult patients with cancer. This product will be marketed in Canada by Meda Valeant Pharma Canada Incorporated, a joint venture between BioDelivery Sciences’ commercial partner for ONSOLIS, Meda, and Valeant Canada Limited.
Valeant Pharmaceuticals International Inc. is a specialty pharmaceutical company. In Canada, its portfolio includes products for the treatment of pain and oncology supportive care. This makes them an ideal partner for BioDelivery Sciences International and the commercialization of ONSOLIS.
The Canadian market will be of particular importance to BioDelivery Sciences. That is because ONSOLIS will be among the first products available in the country for the management of pain in patients undergoing cancer treatment that have a tolerance for opioids. The company also plans to introduce ONSOLIS soon in other markets such as Europe, where it is also approved and will be marketed as BREAKYL.
For more information on BioDelivery Sciences International, please visit the company’s website at www.bdsi.com
The Latest Investor Kit for Scorpex, Inc. (SRPX) is Now Available http://www.missionir.com/clientsummary/srpx.pdf
SRPX Provides Investors with Update on Audit and Financials
Scorpex, Inc., an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region, just announced additional details of the previously reported initiative to prepare its financials for a formal audit. An SEC accredited audit will raise the Company’s status to “Fully Reporting” while increasing transparency for both current and future investors.
As announced two weeks ago, Scorpex has engaged the services of the Acadia Group to prepare for its audit and the filing of financial reports with the U.S. Securities and Exchange Commission (“SEC”) pursuant to the Securities Exchange Act of 1934. The Acadia Group provides publicly traded small-cap companies with both accounting and legal services internationally. It is anticipated that the audit will be completed in the fourth quarter of this year.
Chief Executive Officer Joseph Caywood stated, “By becoming a fully-reporting company, the Company will achieve its goal of providing shareholders with increased transparency while elevating itself in the market as a public entity to more qualified investor groups. Following completion of the audit, we plan to take the next step of listing on a senior securities exchange as we move toward meeting other criteria of the exchange.”
Scorpex, Inc. (SRPX) Provides Investors with Update on Audit and Financials
Scorpex, Inc., an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region, just announced additional details of the previously reported initiative to prepare its financials for a formal audit. An SEC accredited audit will raise the Company’s status to “Fully Reporting” while increasing transparency for both current and future investors.
As announced two weeks ago, Scorpex has engaged the services of the Acadia Group to prepare for its audit and the filing of financial reports with the U.S. Securities and Exchange Commission (“SEC”) pursuant to the Securities Exchange Act of 1934. The Acadia Group provides publicly traded small-cap companies with both accounting and legal services internationally. It is anticipated that the audit will be completed in the fourth quarter of this year.
Chief Executive Officer Joseph Caywood stated, “By becoming a fully-reporting company, the Company will achieve its goal of providing shareholders with increased transparency while elevating itself in the market as a public entity to more qualified investor groups. Following completion of the audit, we plan to take the next step of listing on a senior securities exchange as we move toward meeting other criteria of the exchange.”
Scorpex, Inc. (SRPX) $30M Deal with IET Inc. Speeds-up Facility Launch
The Mexican manufacturing sector is rapidly expanding. The development of new and existing industries, paired with increased investments from foreign national companies, is driving a significant increase in the need for disposal of industrial waste.
Scorpex Inc., an emerging industrial, hazardous and toxic waste disposal service provider, aims to capitalize on this need as it executes its strategy to become a recognized leader in the waste disposal industry in the Baja Mexico/California region. Future plans include expanding to other locations.
The company recently inked a $30 million major equipment deal with Kentucky-based International Environmental Technologies Inc. (IET), in which Scorpex will purchase IET’s waste gasification/thermal oxidation equipment as well as acquire a license to use the technology.
IET will install the equipment and train supervisory personnel to operate and maintain the equipment, and will back the deal with a warranty for equipment installed. Scorpex will also receive a set of spare parts and issue certificates of completion.
Running at full capacity, Scorpex’s IET plant will be capable of processing 800 tons of hazardous and industrial waste each day. IET’s gasification process eliminates 99.9 percent of all combustible waste without any harmful emissions or odor, eliminating the problem of animals and insects scavenging through the waste.
The contract is a key step in Scorpex’s mission to establish its first waste disposal and processing plant outside Ensenada, Mexico, which according to the company, is on track to commence full operations ahead of schedule.
For more information, visit www.scorpex.com
Scorpex, Inc. (SRPX) $30M Deal with IET Inc. Speeds-up Facility Launch
The Mexican manufacturing sector is rapidly expanding. The development of new and existing industries, paired with increased investments from foreign national companies, is driving a significant increase in the need for disposal of industrial waste.
Scorpex Inc., an emerging industrial, hazardous and toxic waste disposal service provider, aims to capitalize on this need as it executes its strategy to become a recognized leader in the waste disposal industry in the Baja Mexico/California region. Future plans include expanding to other locations.
The company recently inked a $30 million major equipment deal with Kentucky-based International Environmental Technologies Inc. (IET), in which Scorpex will purchase IET’s waste gasification/thermal oxidation equipment as well as acquire a license to use the technology.
IET will install the equipment and train supervisory personnel to operate and maintain the equipment, and will back the deal with a warranty for equipment installed. Scorpex will also receive a set of spare parts and issue certificates of completion.
Running at full capacity, Scorpex’s IET plant will be capable of processing 800 tons of hazardous and industrial waste each day. IET’s gasification process eliminates 99.9 percent of all combustible waste without any harmful emissions or odor, eliminating the problem of animals and insects scavenging through the waste.
The contract is a key step in Scorpex’s mission to establish its first waste disposal and processing plant outside Ensenada, Mexico, which according to the company, is on track to commence full operations ahead of schedule.
For more information, visit www.scorpex.com
SRPX $30M Deal with IET Inc. Speeds-up Facility Launch
The Mexican manufacturing sector is rapidly expanding. The development of new and existing industries, paired with increased investments from foreign national companies, is driving a significant increase in the need for disposal of industrial waste.
Scorpex Inc., an emerging industrial, hazardous and toxic waste disposal service provider, aims to capitalize on this need as it executes its strategy to become a recognized leader in the waste disposal industry in the Baja Mexico/California region. Future plans include expanding to other locations.
The company recently inked a $30 million major equipment deal with Kentucky-based International Environmental Technologies Inc. (IET), in which Scorpex will purchase IET’s waste gasification/thermal oxidation equipment as well as acquire a license to use the technology.
IET will install the equipment and train supervisory personnel to operate and maintain the equipment, and will back the deal with a warranty for equipment installed. Scorpex will also receive a set of spare parts and issue certificates of completion.
Running at full capacity, Scorpex’s IET plant will be capable of processing 800 tons of hazardous and industrial waste each day. IET’s gasification process eliminates 99.9 percent of all combustible waste without any harmful emissions or odor, eliminating the problem of animals and insects scavenging through the waste.
The contract is a key step in Scorpex’s mission to establish its first waste disposal and processing plant outside Ensenada, Mexico, which according to the company, is on track to commence full operations ahead of schedule.
For more information, visit www.scorpex.com
JA Solar (JASO) Posts Q1 Results, Continued Focus for Remainder of 2011
JA Solar Holdings Co. Ltd. announced its financial results for its first quarter ended March 31, 2011.
Revenue in the first quarter of 2011 was $556.4 million, an increase of 91.2 percent from $290.9 million reported in the first quarter of the year prior.
Gross profit in the first quarter of 2011 was $96.3 million, compared with $67.0 million in the first quarter of 2010. Gross margin was 17.3 percent in the first quarter of 2011, compared with 23.0 percent in the comparable quarter of 2010.
Operating income in the first quarter of 2011 was $83.3 million, compared with $54.1 million in the first quarter of 2010.
Earnings per diluted ADS in the first quarter of 2011 were $0.41, an increase of 66.5 percent compared with earnings per diluted ADS of $0.25 in the first quarter of 2010.
In the first quarter of 2011, JA Solar generated operating cash flow of $64.2 million, or $0.37 per diluted ADS.
“Despite the seasonally weaker first quarter and uncertainties surrounding Italy’s solar policies, our first-quarter performance illustrates that our strategic partners continue to recognize our clear market leadership on costs and technology,” Dr. Peng Fang, CEO of JA Solar stated in the press release.
Dr. Fang said JA Solar’s shipments were negatively impacted by factory shutdowns during the week-long Chinese New Year holiday. Regardless, the company’s overall shipments for the quarter remained relatively close to production volume, sustaining demand for its products and reflecting its long-term strategic partnerships.
“Underpinning this is our unique position as the industry’s low cost leader, and we are confident that in the future we can achieve even greater production efficiencies and drive costs down further,” he stated.
For the remainder of 2011, Dr. Fang said the company will maintain its focus on building new partnerships to expand its market presence, primarily targeting opportunities stemming from the high growth potential of the U.S. market and potential partnerships.
“These partnerships give us valuable exposure to the utility scale project market and enable us to rapidly grow our U.S. footprint,” Dr Fang stated. “We are similarly well positioned in China, where our status as one of the largest and most-respected players in the industry will enable us to take advantage of opportunities as the market expands.”
For more information visit http://www.jasolar.com
Echo Therapeutics Inc. (ECTE) is “One to Watch”
Echo Therapeutics Inc., a transdermal medical device company, leverages its extensive expertise in advanced skin permeation technology to develop its Symphony tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring system, and its Prelude SkinPrep System for needle-free, painless drug delivery as well as analyte extraction.
All existing FDA-approved continuous glucose monitoring systems are needle-based, requiring insertion of a glucose sensor into the patient’s skin. Not only does this cause discomfort, but it also gives rise to risks of infection, inflammation or bleeding at the insertion site. Echo Therapeutics’ Symphony tCGM does not require insertion of its glucose sensor, eliminating the risks and discomfort associated with needle-based CGM systems.
Because patients are often unaware that their glucose levels are either too high or too low, they are unable to always control their glucose levels and prevent complications. Echo Therapeutics believes the addressable market for needle-free, continuous wireless glucose monitoring in the hospital critical care setting is quite large. It estimates that the opportunity exceeds $1 billion annually. Overall, the global glucose monitoring market exceeds $12 billion annually.
The Prelude SkinPrep System incorporates Echo Therapeutics’ patented skin permeation control technology into a comfortable, hand-held device that increases the permeability of the skin allowing for analyte extraction and drug delivery. The key feature of the company’s skin permeation technology is its feedback control algorithm used to achieve optimal and pain-free skin preparation for transdermal sensing technologies.
The SkinPrep System has the potential to provide a safe and cost effective skin permeation process for rapid delivery of medication across the epidermis. Echo Therapeutics believes that its Prelude skin permeation process could increase transdermal topical drug delivery by as much as 100 times greater than untreated skin, including the delivery of a wide range of small and large molecule drugs.
Equity research coverage of Echo Therapeutics has been initiated by Morgan Joseph TriArtisan, JMP Securities, Feltl and Company, Chardan Capital Markets, and Noble Financial Capital Markets, all of which have issued a “Buy” or “Strong Buy” rating on the stock. The average analyst price target is currently $6.00, with projections as high as $8.50.
Both the Symphony tCGM System and Prelude SkinPrep System address exceedingly large and expansive market opportunities. As Echo Therapeutics continues to advance with its cutting-edge technology and proves its competence in the lucrative medical device industry, the company stands well positioned to increase shareholder value.
BioTime, Inc. (BTX) Announces Four Human Embryonic Stem Cell Lines Approved for Inclusion in NIH Registry
BioTime, Inc., a California biotechnology company focused on regenerative medicine and blood plasma volume expanders, today announced NIH (National Institutes of Health) approval of four of the company’s embryonic stem cell lines for inclusion in the NIH Human Embryonic Stem Cell Registry. The four stem cell lines are ESI-035, ESI-049, ESI-051, and ESI-053, developed by BioTime wholly owned subsidiary ES Cell International (ESI), one of the earliest pioneers of human embryonic stem cell technology
BioTime President and CEO, Michael D. West, Ph.D., commented on the announcement. “As researchers work towards developing therapeutics for use in hard-to-treat diseases, we believe that our clinical grade hES cell lines will enable them to easily translate scientific progress into commercially successful therapeutic products.”
BioTime has supplied research grade versions of the lines to dozens of researchers throughout California, and has agreed to provide the complete genome sequence to the public by this fall to facilitate the development of associated products. Research projects that use human embryonic stem cell lines are eligible for federal funding only if the lines are listed in the NIH Registry. A large pharmaceutical house is already evaluating one of the lines for possible used in its product development program.
BioTime’s broad platform of stem cell technologies is developed through subsidiaries focused on specific application areas. The company develops and markets research products such as ACTCellerate™ cell lines, culture media, and differentiation kits. BioTime’s lead product, Hextend®, is a blood plasma volume expander manufactured and distributed in the U.S. by Hospira, Inc., and in South Korea by CJ CheilJedang Corp. under exclusive licensing agreements. In addition to ESI, BioTime subsidiaries are ReCyte Therapeutics, Cell Cure, OrthoCyte, OncoCyte, BioTime Asia, LifeMap Sciences.
For additional information, visit the company’s website at www.BioTimeInc.com
AdCare Health Systems, Inc. (ADK) Signs New Agreement to Purchase Skilled Nursing and Assisted Living Community for $13.5 Million
AdCare Health Systems, Inc., a leading provider of skilled nursing and assisted living facility management, announced today that they will purchase for $13.5 million an Ohio skilled nursing and assisted living community. The community has 193 beds and generates about $12 million in gross annualized revenues. AdCare plans to finance the acquisition of the assisted living facility with a 30-year, fixed-rated, tax-exempt bond issuance, and finance the skilled nursing facility with a traditional bank loan.
“Our strategy of acquiring skilled nursing facilities is proving highly successful, not only in our closing rate and terms, but also in our post-acquisition performance. We have been targeting facilities that have not traditionally concentrated on providing post-acute services, and then once acquired, we optimize patient care, occupancy and quality mix,” said Boyd P. Gentry, president and chief executive officer, AdCare, in the announcement.
With this transaction, AdCare will have acquired 44 new facilities since 2009 with over 4,890 beds. AdCare anticipates this year’s annualized revenue to exceed $280 million when this and other deals close, which will be a 426% over the company’s revenues in 2010 and more than 949% over revenues in 2009 when it initiated the current M&A campaign.
“Since establishing new operations in Alabama, Georgia and North Carolina, we’ve now made our first acquisition in the state of our origins,” said Chris Brogdon, vice chairman and chief acquisitions officer, AdCare, in a press release on Friday. “These new facilities will leverage the professional support staff we’ve long maintained in Ohio, as well as enhance our overall economies of scale.”
AdCare’s 3,200 employees provide high-quality care for patients and residents residing in the 31 facilities that they manage, 23 of which are skilled nursing centers, seven assisted living facilities and one independent senior living community. AdCare owns seven of the skilled nursing centers and six of the assisted living facilities. In addition, AdCare has lease agreements on eleven skilled nursing centers. AdCare currently operates in Ohio, Georgia, Alabama and North Carolina.
For more information about AdCare, please visit www.adcarehealth.com
Energizer Resources Inc. (ENZR) Moves to Secure Permitting on Huge Vanadium Deposit in Madagascar, Hosts Governmental Delegation, Reports on Advanced Vanadium Extraction Techniques
Energizer Resources, the Toronto-based mineral developer currently focused on its 100% owned Green Giant vanadium deposit in Madagascar (one of the largest known deposits in the world), made a significant stride towards finalizing the prep-work and permitting for the Green Giant mine site, hosting a prestigious delegation in May from the Madagascar government.
The delegation included the Prime Minister, Minister of Mines and other key ministerial officials, including the engineer responsible for handling the Green Giant’s pending environmental evaluation for the Ministry of Mines. This was an excellent opportunity for ENZR to showcase the minimal impact of the designed site and benefit to the local economy/community.
Principal Geologist and VP of Exploration at ENZR, Craig Scherba, who is also a Director of the Company, led the tour and rigorously outlined the design for the mine site and outlying infrastructure, giving solid indications to the assembled personages that the Green Giant Vanadium Project would be a huge boon for Madagascar. Remote from populated areas yet readily accessible, the site is also at considerable distance from any environmentally sensitive areas, making the Green Giant an ideal development location.
Plans for the outlying infrastructure have gone into high gear since the governmental visit in May, with the Company’s engineering group out of South Africa, DRA Mineral Resources, ramping up to aggressively tackle the planned layout for the mine facility and residential support village. The village is projected to support some 550 personnel and currently ENZR employs some 50 local people daily during ongoing explorative efforts, already contributing handsomely to the local economy.
Confidence is very high at ENZR that the build up and permitting process will go smoothly. Scherba and ENZR’s VP of Business Development, Brent Nykoliation, are scheduled to fly in this coming week to initiate the permitting process.
Also among the exciting news coming out of ENZR’s Green Giant project is an update on metallurgical process optimization associated with the ongoing PEA (preliminary economic assessment) study. Refinement of the vanadium extraction process, confirmed with the help of 30-year vanadium industry veteran George Annandale, by SGS Mineral Services (Lakefield) in 2010, is a major advantage for the Company here. Annandale, who is directing the SGS test work as part of the PEA study, extolled the adaptation of alkaline pressure leeching that is widely used in uranium ore treatment for vanadium extraction, citing 82% recovery rates.
Among the relevant PEA study data:
• The vast majority of all buildings, including the residential village have complete layouts and plans including pricing estimates, with a full suite of staple locales
• Fire control and water supply/treatment are both either planned or nearly done and being priced
• Logistical studies are underway to optimize shipping/transport
• Local company AGETIPA is currently conducting environmental/socio-economic studies
For more information on developments at the Green Giant Vanadium Project, or for more information on Energizer Resources Inc., please visit the Company’s website at www.energizerresources.com
Mer Telemanagement Solutions Ltd. (MTSL) Signs $2.5 Million Agreement with U.S. Based Mobile Virtual Network Operator for Mobile Billing and Customer Care
Mer Telemanagement Solutions (MTS) Ltd., an Israeli Company that provides global business support systems (BSS) for comprehensive telecommunication management, telecommunications expense management (TEM) solutions and customer care & billing (CC&B) solutions, today announced that a large U.S. based Mobile Virtual Network Operator (MVNO) has extended their contract through 2012 for MTS’s MVNO customer care and billing solution. MTS Telecommunications expense management solutions are used by thousands of organizations to ensure their telecommunication services are acquired, provisioned and invoiced correctly.
“The MVNE and Wireless Management business continues to grow and we managed to extend our contract through the end of 2012 with a large MVNO in the U.S., which provides for minimum total revenues of $2.5 million,” said Eytan Bar, Chief Executive Officer, in a press release. “Our MVNO Billing and TEM Suite solutions provide our customers with a scalable, end-to-end portfolio of telecom expense management and billing solutions and services.”
MTS’s solutions for Information and Telecommunication Service Providers are used worldwide by wireless and wireline service providers for interconnect billing, partner revenue management and for charging and invoicing their customers. MTS’s MVNO Billing Solution offers any MVNE (Mobile Virtual Network Enabler) the opportunity to seamlessly extend and adapt their operations to support multiple virtual networks and their subscribers in any market regardless of their location and localization requirements.
MTS also offers a full suite of Telecom Expense Management (TEM) software solutions and services. The TEM Suite software, consulting and managed services solutions allows professionals at all levels of an organization to have access to concise, actionable data.
For more information, please visit the MTS website at www.mtsint.com
Canadian Solar Inc. (CSIQ) Posts Strong Q2 Results, Forecasts Continued Growth for 2012
Canadian Solar Inc., one of the world’s largest solar companies, today announced its financial results for the second quarter ended June 30, 2011, reflecting a solid quarter with increases across the board.
Net revenue for the second quarter of 2011 was $481.8 million, up 8.7 percent from $328.7 million in the second quarter of 2010.
Gross profit for the second quarter of 2011 was $63.7 million, up 42.8 percent from $44.6 million in the second quarter of 2010. Gross margin was 13.2 percent in the second quarter of 2011 compared to 13.6 percent in the second quarter of 2010.
The company reported net income for the second quarter of 2011 at $7.1 million, or $0.16 per diluted share, compared to net income of $3.2 million, or $0.07 per diluted share, for the second quarter of 2010.
As of June 30, 2011 Canadian Solar had $686.3 million in cash, cash equivalents and restricted cash compared to $477.6 million at the end of the first quarter of 2011 and $476.2 million as of December 31, 2010.
Dr. Shawn Qu, chairman and CEO of Canadian Solar, said the company’s second quarter achievements were boosted by significant customer wins and two major strategic capacity joint-ventures.
“This was a solid quarter for Canadian Solar,” Dr. Qu stated in the press release. “We achieved impressive shipment growth due to our strategy of building desired capacity, our track record of quality, performance and service, and our increased brand recognition worldwide. We are confident we can continue to gain market share, based on continued strength in Germany, Italy, and the U.S., along with a rebound in Japan and the benefit of new regions, including India. We have also seen the market in Canada picking up in the past month.”
For the third quarter of 2011, the company said it anticipates recognized shipments to be in the range of approximately 350 MW to 360 MW with gross margin expected to be between 9 percent and 12 percent.
Canadian expects continued growth throughout 2010, boosted by its steady progress on integral research and development and new product development initiatives. The company said it expects to start commercial shipment of its ELPS modules in the fourth quarter of 2011, and that it anticipates strong global sales and service network driven by its technology innovations and diversified business strategy.
For more information, visit www.canadiansolar.com
Scorpex, Inc. (SRPX) Receives Federal Use of Soil Permit
Today after the closing bell, Scorpex announced it has been granted its Use of Soil Permit from the Mexican federal government. According to the company, it is the “most significant permit the company has received to date” for its first full service waste disposal and recycling facility near Ensenada, Mexico.
“This achievement is the most significant milestone Scorpex has ever accomplished,” emphasized Chief Executive Officer Joseph Caywood. “Most of our efforts for the past several years has been dedicated to the permitting process, and for us to receive this Use of Soil Permit is a monumental achievement for our Company and its shareholders.”
The Use of Soil Permit is an environmental approval from the Secretariat of the Environment, Natural Resources and Fishing, which has sole jurisdiction over environmental policy and enforcement throughout Mexico. In order to receive this crucial permit, the Company had to submit numerous studies and comply with every request from this government agency. The Use of Soil Permit is necessary for the issuance of future state and local operational permits.
“We are now very close to obtaining the rest of the permits required for use and operations, which will trigger the previously announced equipment financing we have committed from lenders,” Mr. Caywood stated.
Scorpex, Inc. (SRPX) Receives Federal Use of Soil Permit
Today after the closing bell, Scorpex announced it has been granted its Use of Soil Permit from the Mexican federal government. According to the company, it is the “most significant permit the company has received to date” for its first full service waste disposal and recycling facility near Ensenada, Mexico.
"This achievement is the most significant milestone Scorpex has ever accomplished," emphasized Chief Executive Officer Joseph Caywood. "Most of our efforts for the past several years has been dedicated to the permitting process, and for us to receive this Use of Soil Permit is a monumental achievement for our Company and its shareholders."
The Use of Soil Permit is an environmental approval from the Secretariat of the Environment, Natural Resources and Fishing, which has sole jurisdiction over environmental policy and enforcement throughout Mexico. In order to receive this crucial permit, the Company had to submit numerous studies and comply with every request from this government agency. The Use of Soil Permit is necessary for the issuance of future state and local operational permits.
"We are now very close to obtaining the rest of the permits required for use and operations, which will trigger the previously announced equipment financing we have committed from lenders," Mr. Caywood stated.
SRPX Receives Federal Use of Soil Permit
Today after the closing bell, Scorpex announced it has been granted its Use of Soil Permit from the Mexican federal government. According to the company, it is the “most significant permit the company has received to date” for its first full service waste disposal and recycling facility near Ensenada, Mexico.
"This achievement is the most significant milestone Scorpex has ever accomplished," emphasized Chief Executive Officer Joseph Caywood. "Most of our efforts for the past several years has been dedicated to the permitting process, and for us to receive this Use of Soil Permit is a monumental achievement for our Company and its shareholders."
The Use of Soil Permit is an environmental approval from the Secretariat of the Environment, Natural Resources and Fishing, which has sole jurisdiction over environmental policy and enforcement throughout Mexico. In order to receive this crucial permit, the Company had to submit numerous studies and comply with every request from this government agency. The Use of Soil Permit is necessary for the issuance of future state and local operational permits.
"We are now very close to obtaining the rest of the permits required for use and operations, which will trigger the previously announced equipment financing we have committed from lenders," Mr. Caywood stated.
Lake Shore Gold Corp. (LSG) is “One to Watch”
Lake Shore Gold is an aggressively growing gold mining company, actively establishing interests in, and developing, properties in Canada and, to a lesser degree, in Mexico. Its primary focus has been the Abitibi Greenstone belt in northern Ontario and Quebec, with its main base in Timmins, Ontario. The company’s stated goal is to become a mid-tier gold producer through the successful exploration, development, and operation of its growing list of properties in Ontario and Quebec
The company’s wholly owned projects in Timmins are Timmins Mine, where commercial production was achieved in January of 2011, Thunder Creek, where mineralization has been intersected, and Bell Creek Mine, which is progressing to becoming Lake Shore’s second mining operation in the Timmins Gold Camp. The Bell Creek Mill, also in Timmins, was recently expanded, and now has a processing capacity of 2,000 tons per day. The mining rate at Timmins Mine averaged 1,700 production tons per day by the end of 2010, exceeding the mine’s target rate.
The Timmins West Gold Complex consists of the Timmins Mine, Thunder Creek, the 144 Property, and the Gold River Trend. Lake Shore also holds 90 meters of strike along the Casa Berardi break in northern Quebec and northern Ontario. The company entered into a joint venture agreement with Aurizon Mines Ltd. for the Casa Berardi optioned property, which covers a 30 kilometer strike length of the Casa Berardi deformation zone. Lake Shore is also involved in several gold/silver mining projects in northern Mexico.
In addition to its own properties, Lake Shore holds approximately 25% interest in Northern Superior Resources, Inc., a junior exploration company exploring for gold and diamonds on the Superior Province of the Canadian Shield, in Ontario and Quebec. The company also controls about 27% of RT Minerals Corp., a junior exploration company engaged in the business of exploring for and developing mineral properties in Ontario and Quebec.
For additional information on Lake Shore Gold, visit the company’s website at www.LSGold.com
Brazil Resources Inc. (BRIZF) is “One to Watch”
Brazil Resources Inc. is a mineral exploration company focused on acquiring and developing projects in emerging producing gold districts in Brazil and other parts of South America. Currently, the company is primarily concentrated on its Montes Áureos property located in the State of Maranhão, Brazil, within the Gurupi gold belt. Brazil Resources is also seeking to acquire and develop additional gold properties within Brazil and other parts of South America.
The company’s executive team and directors have established a proven track record in raising capital in the resource sector, and its technical team has been involved in the discovery and development of more than 10 million ounces of gold in Brazil. All projects are accessible by road and have abundant access to water, electricity and local labor with nearby towns. Additionally, as a premier mining jurisdiction, Brazil is known for low tax rates and a stable political climate that encourages foreign investment.
Brazil Resources’ 23,643-acre Trinta Project in Maranhão State, Brazil has distinctive structural features that are consistent with the regional geology of the Gurupi
Gold Belt. The company plans to conduct an initial exploration program that includes geological mapping and geochemical reconnaissance sampling over the entire property as well as detailed soil sampling/auger drilling over selected areas. The initiative is in addition to a previously announced $1.7 million exploration program on its Montes Áureos Gold Project within the same region.
The Gurupi Gold Belt is an underexplored and emerging geological region that hosts several million ounces of gold resources within 100 km of the company’s projects. The Gurupi Gold Belt is believed to be part of the same geological structure as the West African Shield, which has produced millions of ounces of gold production. Recognized mining companies, including Kinross Gold (NYSE: KGC), Jaguar Mining (NYSE: JAG) and Luna Gold (TSX: LGC), are active in the area.
As of August 10, Brazil Resources had a cash position of $7.1 million. Management and insider ownership is approximately 35% of the outstanding shares, with institutional ownership accounting for about 25%. With a clear strategy of development in place and strong financial resources to draw from, the company is well positioned to execute comprehensive exploration programs and further develop its portfolio of promising projects.
Scorpex, Inc. (SRPX) Advances to Become Owner, Operator of Waste Disposal Facility in Mexico
Scorpex, Inc. is focused on taking necessary measures to operate a full-service waste disposal and recycling company for the extensive region of Baja California, Mexico.
The first facility, to be located on the company’s existing property outside Ensenada, Baja, has undergone three years of applications, permits and required studies. Scorpex intends to construct ten hazardous and industrial waste storage structures on its Ensenada property, and has built 80 percent of the first facility.
Moving forward, the company’s future strategy calls for the construction of storage, recycling and disposal facilities in strategically located areas throughout Mexico. To execute this plan, the company has retained several real estate and legal consultants within Baja, which will also assist the company in maintaining a healthy relationship with the community and industry consultants.
In addition, Scorpex has secured commitments from various manufacturers and waste haulers in Baja regarding the use of the company’s new facility as a place to store and dispose of their industrial waste.
Scorpex, Inc. (SRPX) Advances to Become Owner, Operator of Waste Disposal Facility in Mexico
Scorpex, Inc. is focused on taking necessary measures to operate a full-service waste disposal and recycling company for the extensive region of Baja California, Mexico.
The first facility, to be located on the company’s existing property outside Ensenada, Baja, has undergone three years of applications, permits and required studies. Scorpex intends to construct ten hazardous and industrial waste storage structures on its Ensenada property, and has built 80 percent of the first facility.
Moving forward, the company’s future strategy calls for the construction of storage, recycling and disposal facilities in strategically located areas throughout Mexico. To execute this plan, the company has retained several real estate and legal consultants within Baja, which will also assist the company in maintaining a healthy relationship with the community and industry consultants.
In addition, Scorpex has secured commitments from various manufacturers and waste haulers in Baja regarding the use of the company’s new facility as a place to store and dispose of their industrial waste.
SRPX Advances to Become Owner, Operator of Waste Disposal Facility in Mexico
Scorpex, Inc. is focused on taking necessary measures to operate a full-service waste disposal and recycling company for the extensive region of Baja California, Mexico.
The first facility, to be located on the company’s existing property outside Ensenada, Baja, has undergone three years of applications, permits and required studies. Scorpex intends to construct ten hazardous and industrial waste storage structures on its Ensenada property, and has built 80 percent of the first facility.
Moving forward, the company’s future strategy calls for the construction of storage, recycling and disposal facilities in strategically located areas throughout Mexico. To execute this plan, the company has retained several real estate and legal consultants within Baja, which will also assist the company in maintaining a healthy relationship with the community and industry consultants.
In addition, Scorpex has secured commitments from various manufacturers and waste haulers in Baja regarding the use of the company’s new facility as a place to store and dispose of their industrial waste.
Comstock Mining, Inc. (LODE) is “One to Watch”
A Nevada-based gold and silver mining company, Comstock Mining Inc. has extensive, contiguous property in the Comstock District. Since its first acquisition in the Comstock District, the company has consolidated a significant portion of the region, amassing the single largest known repository of historical and current geological data on the Comstock region.
The company continues to focus on acquiring additional properties in the district, expanding its footprint and pursuing further opportunities for exploration and mining. Comstock Mining aims to deliver stockholder value by validating qualified resources and reserves of 3,250,000 gold equivalent ounces over the next two years. Earlier this year, the company began trading on the NYSE Amex, raising its investment profile for increased visibility with current and potential investors.
During the most recently ended quarter, the company successfully advanced its drilling program to completion. Significant milestones achieved include completing the infill drilling on the Hartford, Lucerne and Justice claims for the starter mine; completing the first and second phases of development drilling in the Dayton Resource Area; and completing the first phase development drilling on the East-Side target in the Lucerne Resource Area.
Commenting on the company’s performance, CEO Corrado De Gasperis stated, “…We completed our largest, most successful drilling campaign and continued a high rate of discovery and productivity, including the discovery of high grades of gold and the prevalent deposits of silver. These results will be included in an updated 43-101 technical report resource estimate, expected to be completed in September of this year. With a strong production team, metallurgical testing and mine planning completed and equipment ordered we are on track to begin production at our starter mine by the end of the year.”
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Onstream Media Corp. (ONSM) Reports Record Fiscal Q3 Revenues
Onstream Media Corp. reported record financial results for its fiscal third quarter; the company‘s fiscal year is set to end September 30. The announcement came just after Monday’s closing bell.
The company said it racked up a record $4.6 million in fiscal third-quarter revenues. This represents a 4.4% gain over Q3 2010 fiscal results and a 3% sequential increase over Q2 2011 fiscal results. Revenues from October through June were a record $13.4 million, up 5.7%, as compared to $12.6 million in the comparable period for fiscal 2010.
The Pompano Beach-based Onstream is a veteran provider of live and on-demand corporate audio and web communications, virtual event technology and social media marketing. According to its website, it serves a wide range of blue-chip companies, including Bank of America (NYSE: BAC), Sony (NYSE: SNE), eBay (Nasdaq: EBAY), United Parcel Service (NYSE: UPS), BMW, Disney (NYSE: DIS), General Electric (NYSE: GE), Warner Brothers, Staples (Nasdaq: SPLS), Coca Cola (NYSE: KO), and others.
Onstream was able to sharply reduce operating expenses as well, to the extent of a 6.6% reduction, thereby adding to its bottom line and representing a $249,000 differential below fiscal Q3 operating expenses.
The company also trimmed losses for the three months ended June 30, 2011 to about $486,000, a 54.8% decrease when compared to net losses of about $1.1 million for Q3 of fiscal 2010.
In making the announcement, Onstream CEO Randy Selman observed, “Revenues in the third quarter of fiscal 2011 represented our second consecutive quarter of record revenues… We are also pleased to report our second consecutive quarter of positive cash flow from operating activities (before changes in current assets and liabilities)…”
Selman also called attention to debenture reductions and developments with the MarketPlace365® venture, citing nine active MP365 promoter sites and 29 additional promoter agreements. Convertible debenture liability, he said, was reduced from $1.2 million to $510,000 from March 31 to the present, “via cash payments as well as the issuance of common shares.”
Scorpex, Inc. (SRPX) Provides Additional Details of Financing Commitments
Scorpex, Inc. today provided investors with additional information regarding the debt financing commitments announced after the closing bell yesterday. Secured by the equipment, receivables, land and other assets of the Company, the loans are from two different sources for up to $35 million USD.
Chief Executive Officer Joseph Caywood stated, “Unlike many other businesses who are struggling to finance operations, we have had no difficulty securing sufficient financing commitments. Having these commitments in hand within such a short time of signing the equipment agreement with IET demonstrates our ability to secure the financing necessary to continue executing our business plan.”
“We have been very pleased with the warm reception exhibited by these lenders,” Mr. Caywood continued. “The financing will enable accelerated growth of the Company and the ability to achieve milestones sooner than expected, which will subsequently have a dramatic positive effect on shareholder value.”
“As a result of the insatiable demand for local waste disposal and the diverse clientele driving the market, our company is in a highly enviable position to secure abundant financing at very favorable terms. In addition to the substantial commitments mentioned above, we anticipate hearing from several others who may also desire to provide us with competitive low-cost financing,” he concluded.
SRPX set a historical volume record today within the first 90 minutes of trading! The stock has already traded more than 100,000 shares this morning, which significantly overshadows the average daily volume of 37,560 shares.
Scorpex, Inc. announced that it has received financing commitments from two different sources for up to $35 million USD. Having these commitments in hand within such a short time of signing the equipment agreement with IET demonstrates the company’s ability to secure the financing necessary to continue executing its business plan.
CEO Joseph Caywood explained, "As a result of the insatiable demand for local waste disposal and the diverse clientele driving the market, our company is in a highly enviable position to secure abundant financing at very favorable terms. In addition to the substantial commitments mentioned above, we anticipate hearing from several others who may also desire to provide us with competitive low-cost financing.”
Scorpex, Inc. (SRPX) Provides Additional Details of Financing Commitments
Scorpex, Inc. today provided investors with additional information regarding the debt financing commitments announced after the closing bell yesterday. Secured by the equipment, receivables, land and other assets of the Company, the loans are from two different sources for up to $35 million USD.
Chief Executive Officer Joseph Caywood stated, “Unlike many other businesses who are struggling to finance operations, we have had no difficulty securing sufficient financing commitments. Having these commitments in hand within such a short time of signing the equipment agreement with IET demonstrates our ability to secure the financing necessary to continue executing our business plan.”
“We have been very pleased with the warm reception exhibited by these lenders,” Mr. Caywood continued. “The financing will enable accelerated growth of the Company and the ability to achieve milestones sooner than expected, which will subsequently have a dramatic positive effect on shareholder value.”
“As a result of the insatiable demand for local waste disposal and the diverse clientele driving the market, our company is in a highly enviable position to secure abundant financing at very favorable terms. In addition to the substantial commitments mentioned above, we anticipate hearing from several others who may also desire to provide us with competitive low-cost financing,” he concluded.
SRPX Provides Additional Details of Financing Commitments
Scorpex, Inc. today provided investors with additional information regarding the debt financing commitments announced after the closing bell yesterday. Secured by the equipment, receivables, land and other assets of the Company, the loans are from two different sources for up to $35 million USD.
Chief Executive Officer Joseph Caywood stated, “Unlike many other businesses who are struggling to finance operations, we have had no difficulty securing sufficient financing commitments. Having these commitments in hand within such a short time of signing the equipment agreement with IET demonstrates our ability to secure the financing necessary to continue executing our business plan.”
“We have been very pleased with the warm reception exhibited by these lenders,” Mr. Caywood continued. “The financing will enable accelerated growth of the Company and the ability to achieve milestones sooner than expected, which will subsequently have a dramatic positive effect on shareholder value.”
“As a result of the insatiable demand for local waste disposal and the diverse clientele driving the market, our company is in a highly enviable position to secure abundant financing at very favorable terms. In addition to the substantial commitments mentioned above, we anticipate hearing from several others who may also desire to provide us with competitive low-cost financing,” he concluded.
China XD Plastics Company Ltd. (CXDC) Announces $100 Million Investment from Morgan Stanley Private Equity Asia to Expand Production Capability
China XD Plastics Company Limited, one of China’s leading players engaged in the development, manufacture, and sales of modified plastics primarily for automotive applications, today announced that Morgan Stanley Private Equity Asia (“MSPEA”) has agreed to make a $100 million equity investment for a significant minority ownership stake in the Company. The investment by MSPEA, one of the leading private equity investors in Asia, will help China XD Plastics to expand and further upgrade its production capabilities. MSPEA will also designate two members to be elected to the board of directors of the Company and the number of directors on the Board will be increased from seven to nine.
“This investment will enable us to accelerate our domestic capacity expansion and production line upgrade plans and invest in developing new products to better satisfy the demand for our products in the market. MSPEA brings international best practices and financial and capital markets expertise as well as a track record of over 18 years of success in guiding and supporting companies to achieve their strategic and financial goals,” said Jie Han, Chairman and CEO, China XD Plastics in a press release on Monday.
China XD Plastics is one of the largest domestic modified plastics players in China where the demand for automobiles is outpacing other countries. As of June, China XD had one of the largest portfolios of product certifications in the automotive modified plastics industry. China XD’s products are used in the exterior and interior trim and in the functional components of more than 70 automobile brands manufactured in China, including AUDI, BMW, Toyota, Buick, Mazda, VW Golf, Jetta, and Hafei new energy vehicles.
“MSPEA has a disciplined strategy of investing in market-leading businesses with high-quality management teams and compelling competitive advantages. We see the automotive modified plastics market in China as having attractive long-term growth prospects and China XD Plastics as having established itself as a strong and leading player in this space. We are impressed by the Company’s product development and production management capabilities as well as its experienced management team,” said Ed Huang, a Managing Director of Morgan Stanley Private Equity Asia, in the announcement press release.
For more information on China XD Plastics Company Limited, please visit http://www.chinaxd.net
Scorpex, Inc. (SRPX) Announces Multiple Financing Commitments for up to $35 Million
Today shortly after the closing bell, Scorpex, Inc. announced that it has received financing commitments from two different sources for up to $35 million USD. According to the press release, the financing is contingent on the issuance of necessary permits that are anticipated to be granted to the Company in the near future.
Chief Executive Officer Joseph Caywood stated, “Unlike many other businesses who are struggling to finance operations, we have had no difficulty securing sufficient financing commitments. Having these commitments in hand within such a short time of signing the equipment agreement with IET demonstrates our ability to secure the financing necessary to continue executing our business plan.”
“We have been very pleased with the warm reception exhibited by these lenders,” Mr. Caywood continued. “The financing will enable accelerated growth of the Company and the ability to achieve milestones sooner than expected, which will subsequently have a dramatic positive effect on shareholder value.”
“As a result of the insatiable demand for local waste disposal and the diverse clientele driving the market, our company is in a highly enviable position to secure abundant financing at very favorable terms. In addition to the substantial commitments mentioned above, we anticipate hearing from several others who may also desire to provide us with competitive low-cost financing,” he concluded.
Scorpex, Inc. (SRPX) Announces Multiple Financing Commitments for up to $35 Million
Today shortly after the closing bell, Scorpex, Inc. announced that it has received financing commitments from two different sources for up to $35 million USD. According to the press release, the financing is contingent on the issuance of necessary permits that are anticipated to be granted to the Company in the near future.
Chief Executive Officer Joseph Caywood stated, "Unlike many other businesses who are struggling to finance operations, we have had no difficulty securing sufficient financing commitments. Having these commitments in hand within such a short time of signing the equipment agreement with IET demonstrates our ability to secure the financing necessary to continue executing our business plan."
"We have been very pleased with the warm reception exhibited by these lenders," Mr. Caywood continued. "The financing will enable accelerated growth of the Company and the ability to achieve milestones sooner than expected, which will subsequently have a dramatic positive effect on shareholder value."
"As a result of the insatiable demand for local waste disposal and the diverse clientele driving the market, our company is in a highly enviable position to secure abundant financing at very favorable terms. In addition to the substantial commitments mentioned above, we anticipate hearing from several others who may also desire to provide us with competitive low-cost financing," he concluded.
SRPX Announces Multiple Financing Commitments for up to $35 Million
Today shortly after the closing bell, Scorpex, Inc. announced that it has received financing commitments from two different sources for up to $35 million USD. According to the press release, the financing is contingent on the issuance of necessary permits that are anticipated to be granted to the Company in the near future.
Chief Executive Officer Joseph Caywood stated, "Unlike many other businesses who are struggling to finance operations, we have had no difficulty securing sufficient financing commitments. Having these commitments in hand within such a short time of signing the equipment agreement with IET demonstrates our ability to secure the financing necessary to continue executing our business plan."
"We have been very pleased with the warm reception exhibited by these lenders," Mr. Caywood continued. "The financing will enable accelerated growth of the Company and the ability to achieve milestones sooner than expected, which will subsequently have a dramatic positive effect on shareholder value."
"As a result of the insatiable demand for local waste disposal and the diverse clientele driving the market, our company is in a highly enviable position to secure abundant financing at very favorable terms. In addition to the substantial commitments mentioned above, we anticipate hearing from several others who may also desire to provide us with competitive low-cost financing," he concluded.
Trunkbow International (TBOW) Posts Solid Increases in Q1, Positive Outlook for Future
Trunkbow International Holdings Limited, a leading provider of Mobile Payment Solutions (MPS) and Mobile Value Added Solutions (MVAS) in the People’s Republic of China, today announced financial results for its first quarter ended March 31, 2011.
Revenue in the first quarter of 2011 increased 27.6 percent to $5.0 million compared with revenue of $3.9 million in the same period of 2010. Cost of revenue in the first quarter of 2011 was $0.6 million compared with $0.2 million in the same period of 2010.
Gross profit increased 19.0 percent to $4.4 million compared to $3.7 million in the first quarter of 2010. As a percentage of net revenue, gross margin was 88.9 percent in the first quarter of 2011, down from 95.4 percent in the year-ago quarter.
Operating income in the first quarter of 2011 decreased 11.4 percent to $2.4 million compared with $2.8 million in the first quarter of last year.
Trunkbow reported net income for the first quarter 2011 at $3.4 million, or $0.09 per diluted share, an increase of 36.9 percent compared to net income of $2.6 million, or $0.10 per basic and diluted share, reported for the comparable quarter of last year.
As of March 31, 2011, the company had $23.2 million in cash and cash equivalents, compared with $10.3 million as of December 31, 2010. The increase in cash and cash equivalents stems primarily from $18.1 million in net proceeds from the company’s IPO completed on February 8, 2011. As of March 31, 2011, Trunkbow had working capital of $64.5 million, short-term loans of $1.8 million and total shareholders’ equity of $65.5 million.
Qiang Li, Trunkbow’s CEO, commented on the company’s strategy for current and future growth.
“In addition to our financial and operational accomplishments, we continued executing on key strategic initiatives, including the expansion of our product pipeline through the development of new technologies and applications for mobile commerce, which we plan to roll-out during the rest of year,” Li stated in the press release.
Trunkbow expects to finish up the second quarter of 2011 with revenue of $9.5 million and net income of $4.3 million, representing year-over-year growth of 138 percent and 95 percent, respectively. The company bases its expectations on its plan to boost its market share through the introduction of its services in new provinces and increases, as well as by increasing its presence among China’s leading mobile carriers.
“Looking ahead, we expect to achieve strong growth on a sequential quarter basis during the remainder of 2011. We are uniquely positioned in the MPS space as the only provider of an end-to-end solution incorporating hardware, software and services, and believe that this gives us a significant competitive advantage with both carriers and merchants, while offering a compelling solution for consumers,” Li stated. “With an intuitive, user-friendly platform, partnerships with mobile and payment industry leaders and a strong balance sheet bolstered by the proceeds of our first quarter IPO, we are confident in our ability to reach the next level of success.”
For more information visit www.trunkbow.com
Mexico-based Scorpex, Inc. (SRPX) Positioned to Benefit from Cross-border Traffic
Mexico has experienced significant growth in its manufacturing sector in recent years, triggered by economical growth and increased foreign investments from companies seeking opportunities to capitalize on the cheap cost of shipping goods to the U.S.
Recently, the U.S. and Mexico signed a deal allowing each country’s trucks to travel the other’s highway, putting into effect a key provision of the 1994 North American Free-Trade Agreement, which gives Mexican trucks full access to highways running outside the buffer zone inside the U.S. border. The deal also halted years of higher tariffs previously placed on U.S. products by Mexico after the initial treaty was compromised.
For companies such as Scorpex Inc., this agreement carries significant weight. Scorpex is working to become a leading hazardous and toxic waste disposal company in the Baja Mexico/California region. Not only does this agreement give the company access to cross-border travel as necessary, it feeds increased export, manufacturing and distribution in Mexico, subsequently driving the need for increased disposal of industrial waste.
Scorpex’s has already constructed 80% of its first storage facility on its property just outside Ensenada, Mexico, which the company strategically chose to accommodate the vast region of Baja California.
SRPX Positioned to Benefit from Cross-border Traffic
Mexico has experienced significant growth in its manufacturing sector in recent years, triggered by economical growth and increased foreign investments from companies seeking opportunities to capitalize on the cheap cost of shipping goods to the U.S.
Recently, the U.S. and Mexico signed a deal allowing each country’s trucks to travel the other’s highway, putting into effect a key provision of the 1994 North American Free-Trade Agreement, which gives Mexican trucks full access to highways running outside the buffer zone inside the U.S. border. The deal also halted years of higher tariffs previously placed on U.S. products by Mexico after the initial treaty was compromised.
For companies such as Scorpex Inc., this agreement carries significant weight. Scorpex is working to become a leading hazardous and toxic waste disposal company in the Baja Mexico/California region. Not only does this agreement give the company access to cross-border travel as necessary, it feeds increased export, manufacturing and distribution in Mexico, subsequently driving the need for increased disposal of industrial waste.
Scorpex’s has already constructed 80% of its first storage facility on its property just outside Ensenada, Mexico, which the company strategically chose to accommodate the vast region of Baja California.
Nexxus Lighting Inc. (NEXS) Posts 206% Increase in Q2 Revenue
Nexxus Lighting Inc. today reported its second quarter 2011 results, reflecting a significant boost in sales and an expansion of its patent portfolio.
Total revenue for the three months ended June 30, 2011, increased 206 percent to approximately $4.0 million compared to approximately $1.3 million for the comparable quarter of 2010.
Gross profit for the second quarter ended June 30, 2011, was approximately $1.0 million, or 25 percent of revenue, compared to approximately $433,000, or 33 percent of revenue, for the comparable period of 2010.
Nexxus reported a net loss for the second quarter of 2011 of $868,000, or $(0.05) per common share, compared to a second quarter 2010 net loss of approximately $1.8 million, or $(0.12) per common share.
As of June 30, 2011, the company had cash and cash equivalents of $3.5 million and long term debt of $2.2 million.
“Our record Array results for the quarter reflect the expansion of our market strategy into the consumer market channel,” Mike Bauer, president and CEO of Nexxus stated in the press release. “While we incurred some unexpected freight and installation costs, we were able to deliver 100 percent of the product on time to each of the approximate 1,100 stores. This performance demonstrates our ability to cost-effectively ramp our capacity and profitably service this new channel. There were challenges faced in this effort, but we overcame them with a team effort that included the support from certain strategic vendors.”
For the six months ended June 30, 2011, the company’s total revenue more than doubled to approximately $5.6 million compared to the six months ended June 30, 2010. Gross profit for the first half of 2011 was approximately $1.4 million, or 27 percent of revenue, compared to approximately $940,000, or 34 percent of revenue, for the comparable period of 2010. Net loss for the first six months of 2011 was approximately $2.1 million, or $(0.13) per share, compared to $4.3 million, or $(0.22) reported for the first half of 2010.
For more information visit www.nexxuslighting.com
ZBB Energy Corp. (ZBB) Awarded Million Dollar Contract from the Navy for Energy Storage System
ZBB Energy Corp., the leading developer of intelligent, renewable energy power platforms, announced today that they will provide the US Navy with a 1000kWH / 500kW-rated energy storage system for use in a micro-grid application at the San Nicolas Island Naval Facility in the Catalina Islands, near Los Angeles, California. The system will utilize ZBB’s newly branded EnerSystem(TM) technologies, comprised of ZBB’s Power & Energy Control Center (PECC) and next generation Version 3 Zinc Bromide flow battery modules.
ZBB’s technology EnerSystem (TM) will be tested and certified to maintain power quality and perform load management for off peak power of the wind turbines and diesel electric power plant power delivery system at the Naval facility. The ZBB Version 3 flow battery is designed to serve as an advanced electrical energy storage device, constructed from environmentally-friendly materials that provide a long service life and advanced performance when compared with traditional chemical batteries, particularly in challenging environmental and operational applications like military base micro-grids.
“We look forward to working with the Navy to showcase the capabilities of ZBB’s third generation flow battery storage and integrated power electronics. This application is a great example of how cost effective power electronics and storage will deliver key integration, management and fuel saving benefits to the DoD,” said Eric Apfelbach, President & CEO of ZBB Energy in a press release on Friday.
The ZBB EnerSystem(TM) will be used continuously in an ongoing operational mode to minimize diesel gen set runtime in conjunction with wind turbines and future PV arrays on the island. The base’s overall system will focus on the power control for micro-grid stability, quality, and load leveling needs on the base. This is the first time that an advanced energy storage system is being tested with large-scale renewable sources, in conjunction with actual load management and generator plant control schemes in a micro-grid application in North America. Successful tests and certification will make this technology available to more wide spread Navy use.
For more Information, please visit www.zbbenergy.com
ZAGG, Inc. (ZAGG) is “One to Watch”
ZAGG, Inc. is focused on offering consumers and professionals innovative ways to improve their relationships with the gadgets they depend on daily. The company is a leading provider of films, skins, audio and power solutions that protect, personalize, and enhance the mobile experience. Their products are distributed worldwide with popular, award-winning brands such as the invisibleSHIELD®, ZAGGskins™, ZAGGsparq™, ZAGGbuds™, ZAGG LEATHERskins™, and ZAGGmate™.
The company’s flagship product, the invisibleSHIELD, is made from a protective film covering that was originally designed to protect the rotary blades of military helicopters. ZAGG markets this same film product for protecting electronic devices from every day wear and tear. Currently, the company offers over 5,000 precision pre-cut invisibleSHIELD designs with a lifetime replacement warranty through online channels, big-box retailers, electronics specialty stores, resellers, college bookstores, Mac stores, and mall kiosks.
ZAGG is constantly expanding its product offering, focusing on innovative products and services that be targeted towards existing customers. Because many of the products sold are device specific, the company is able to identify what type of device they have and develop specific marketing plans to sell additional products including power supplies, car chargers, ear buds and other accessory items. As the brand continues to develop, ZAGG aims to enter additional complementary industries.
As sales of electronics continue to grow, it is only natural for sales of complimentary products to continue to increase as well. Four of the largest areas of ZAGG’s market opportunities relate to sales of iPods, cellular telephones, digital cameras and tablet computing devices. According to industry sources, over 48.7 million iPods, 47.4 million iPhones, and 14.7 million iPads were sold by Apple last year. Worldwide, it estimated that over 1.38 billion cell phones and over 109.9 million digital cameras were sold. ZAGG is well positioned to serve all of these markets with its superior products.
PositiveID Corp. (PSID) Multiplex Bio Threat Assay Validated by the Department of Homeland Security
PositiveID Corp., a developer of medical technologies for diabetes management, clinical diagnostics and bio-threat detection, announced today that the US Department of Homeland Security Science and Technologies Division has validated the performance of the recently launched Multiplex Bio Threat Assay (PSIDMBA) through an in-house blind study that took place over a year in a major east coast US City.
Intended for investigative and research use, the PSIDMBA offers rapid, accurate and efficient multiple organism identification in a cost-effective manner. Currently available methods require up to 16 times more sample, are more costly per signature and are not amenable to high-throughput analyses. The PSIDMBA assay is designed to provide test results for up to six organisms in the time of a single polymerase chain reaction (i.e. 30 to 90 minutes), versus the several hours or more required to test multiple samples with conventional methods. The PSIDMBA is also the first commercially available Multiple BioThreat Assay for the detection of up to six bio-threat organisms on the A and B lists of the CDC. The test is also fully customizable to meet specific customer needs and is the first in a series of environmental and food pathogen assays expected to be made available.
A blind assay validation study was successfully completed through DHS with more than 150 competing natural occurring strains, near-neighbors, and environmental samples. Samples were tested in triplicate with 100% agreement being achieved for all positives and negatives at a limit of detection which is equivalent or better than similar assays performed in a singleplex format.
“Having worked in the field of biodefense and assay development for the last 10 years, I believe the PSIDMBA achieves better performance and higher cost savings than any other assay currently on the market. In order to assess the assay’s ability to detect unknown samples, our team challenged it in triplicate against a series of blind samples provided by DHS. Our results indicate that the multiplex assay was strain specific and produced no false positives or negatives when challenged within house gDNA collections and DHS provided panels. Also, these results were achieved with a limit of detection that is state-of-the-art and equivalent or better than those achieved with in singleplex fashion,” Lyle Probst, Senior Director of Programs at MFS, and co-developer of the assay said in a press release on Thursday.
For more information the PSIDMBA, visit www.psidmba.com