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PTSC news..........................
SAN DIEGO, Calif., Dec 23, 2003 /PRNewswire-FirstCall via Comtex/ --
Patriot Scientific Corporation (OTC Bulletin Board: PTSC) announced today the company has initiated legal action against several multi-national consumer electronics companies seeking damages for patent infringement of microprocessor clocking mechanisms held within its portfolio. The initial filing is with the U.S. District Court for the Southern District of New York under case number 03 CV 10142 (DAB). PTSC believes specific patents within the company's portfolio to be foundational with numerous additional companies currently benefiting from its technology.
Jeff Wallin, president and CEO of PTSC stated, 'This event represents a major milestone in achieving commercial value for PTSC's innovative processing technologies. This is the first of many anticipated actions in the interest of protecting the company's patent portfolio.'
The initial filings will be seeking damages in excess of several hundred million dollars.
An investment profile on Patriot Scientific may be found at www.hawkassociates.com/patriot/profile.htm.
About Patriot Scientific
Patriot Scientific is an intellectual property company developing and marketing innovative and proprietary semiconductor technologies into the fast- growing hand held wireless and smart card markets. The company's portfolio of patents encompasses what is believed to be fundamental microprocessor technology and includes additional patents pending to protect its technology and architecture. For more information please visit Patriot Scientific online at www.ptsc.com
For investor relations information contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 852-2383. Email: info@hawkassociates.com For Patriot Scientific information contact Lowell Giffhorn at (858) 674-5018. Detailed information about Patriot Scientific can be found on the website www.ptsc.com. Copies of Patriot Scientific press releases, current price quotes, stock charts and other valuable information for investors may be found on the website www.hawkassociates.com.
USGA filed a S-8POS to add 647,740 shares to the 5-million they announced to be dumped last April.
The details included in the filing don't paint a very pretty picture.
SHRN is showing strength today. At .0045 it could be good for a quick double.
PCOM...news.........
CAMPBELL, Calif., Dec 19, 2003 /PRNewswire-FirstCall via Comtex/ --
P-Com, Inc. (OTC Bulletin Board: PCOM), a worldwide provider of wireless telecom products and services, today announced a series of transactions that further strengthens the company's financial position.
P-Com today announced that it has raised approximately $2.8 million through the issuance of additional Series C Convertible Preferred Stock and Warrants. In addition, the company said it has eliminated $3 million in debt in connection with the acquisition of the Wave Wireless Networking division of SPEEDCOM Wireless Corporation. Approximately $2 million in debt was exchanged for $2 million in Series D Convertible Preferred Stock of P-Com. The remaining $1 million in debt was retired by making a $750,000 cash payment to the noteholders.
Complete details related to the terms of the Series C Convertible Preferred Stock are in P-Com's Form 8-K, filed with the Securities and Exchange Commission on October 7th, 2003, in connection with the October 2003 equity-based financing that resulted in gross proceeds to the company of $11 million.
'We have removed a substantial portion of the debt from our balance sheet and essentially completed the restructuring process,'said Sam Smookler, CEO of P-Com. 'The restructuring actions, coupled with our recent success in raising additional working capital, will allow us to turn our full attention to growing our business in 2004.'
The financial transactions announced today culminate a restructuring program that included the conversion of $21 million in debt into shares of Series B Convertible Preferred Stock, a substantial portion of which has recently been converted into shares of P-Com common stock.
Burnham Hill Partners acted as exclusive placement agent in connection with Series C Preferred Stock financing and served as financial advisor to P- Com in connection with the debt reduction and issuance of Series D Preferred Stock.
About P-Com, Inc.
P-Com, Inc. develops, manufactures, and markets point-to-point, spread spectrum and point-to-multipoint, wireless access systems to the worldwide telecommunications market. P-Com broadband wireless access systems are designed to satisfy the high-speed, integrated network requirements of Internet access associated with Business to Business and E-Commerce business processes. Cellular and personal communications service (PCS) providers utilize P-Com point-to-point systems to provide backhaul between base stations and mobile switching centers. Government, utility, and business entities use P-Com systems in public and private network applications. For more information visit www.p-com.com or call 408-866-3660.
About Burnham Hill Partners
Burnham Hill Partners, based in New York City, formed in August 2003, is a division of Pali Capital, Inc., a NASD registered broker dealer. The professionals at Burnham Hill Partners have extensive experience providing comprehensive financing and financial advisory services to publicly traded companies with market capitalizations of up to $250 million. Burnham Hill Partners'sector expertise includes telecommunications, electronics equipment and services, network security and software as well as medical devices and life sciences. For more information on Burnham Hill Partners, its professionals and deal history call 212-980-2200.
WAVX in trouble?...news..........
LEE, Mass., Dec 18, 2003 (BUSINESS WIRE) --
Wave Systems Corp. (Nasdaq: WAVX) today reported that the Securities and Exchange Commission has commenced a formal investigation into certain matters relating to Wave. The SEC's investigative order, received by Wave on December 17, 2003, relates to certain public statements made by Wave during and around August 2003, as well as certain trading in Wave's securities during such time. The SEC has not concluded that there has been any wrongdoing, and Wave is cooperating fully with the SEC on this matter.
re RVIA.............
It took a major hit today with about 10 times the average volume.
Opened at .10 and closed at .06(-40%).....Now at a 52 week low.
Keep an eye on it.....IMO it should bounce very nicely.
About the Bloomberg morning TV show.....
In case it doesn't come up again.
Every weekday Bloomberg is on the USA network.
Here on the west coast it's 5AM to 8AM
Beginning 01/01/04 they will no longer be on USA.
They will be on the "E" network from 5:30AM to 7AM
I think you nailed it joepcf..ICMH is up 30% and looking strong.
As for MXDY, IMO, it's way over priced right now.
QTFV news.....
WESTLAKE VILLAGE, Calif., Dec 17, 2003 (PRIMEZONE via COMTEX) --
QT 5, Inc. (OTCBB:QTFV), manufacturer, distributor and marketer of biomedical diagnostics and NICOWater(tm), a Homeopathic Nicotinum Formula, today announced that the Maine Legislative Committee on Health and Human Services has decided to table LD 1631 'An Act to Prevent the Sale of Water Laced with Nicotine in Maine.'
QT 5, Inc. President Steven H. Reder said, 'We have always felt confident that NICOWater is a legitimate product that provides adult smokers with an alternative to relieve the symptoms of tobacco cravings when they find themselves in situations and environments where they cannot or should not smoke. In our efforts to support this position, our CEO, FDA Attorney and a contingent of our Medical Advisory Board even braved a blizzard to be present for the committee meeting. The result is very gratifying and serves to confirm our ability and commitment to overcome the anticipated challenges of pioneering a breakthrough product.'
About QT 5, Inc.
QT 5, Inc. is a Delaware corporation formed in April 1999 as a manufacturer, distributor and marketer of Bio-Med testing and Homeopathic products. QT 5, Inc. currently manufactures and markets NICOWater, its breakthrough Homeopathic Nicotinum (nicotine) product designed to relieve the symptoms of tobacco cravings. QT 5 continues to do research and development regarding future products for lifestyle enhancements. QT 5, Inc. is headquartered in Westlake Village, California. For more information on the Company please visit: www.qt5inc.com . NICOWater is a Homeopathic Drug product that is sold under the FDA's Compliance Policy Guide Conditions Under Which Homeopathic Drugs May Be Marketed.
MXDY,(.315, up 37%), filed S-8 to dump 4.12M shares. This will bring the OS up to about 57.7M.
RVIA news....more about.....
This is a post RS bottom/bounce play. They did a 1:100 RS last May and have been trending down on low volume.
The OS is 2.196,074
I'm looking for a bottom around a penny, but news such as this could change that. Currant PPS is .10
IMO, a good one for the radar that should bounce for nice profits.
Culpeper, VA, Dec 17, 2003 (M2 PRESSWIRE via COMTEX) --
REVA, Inc. (OTCBB: RVIA) announced today that it has completed its merger with Regional Wireless Networks (RWN), a Texas based Company that specializes in wireless communications with a 98 % commercial customer base.
REVA, Inc.'s merger with RWN continues to expand its corporate umbrella. RWN (www.rwnetworks.net) was acquired with $105,000 and 1,266,667 shares of REVA, Inc. stock. RWN brings an additional $15,000 operatingix-figured revenue base to REVA, Inc. per month. This merger will also substantially increase REVA's commercial customer base as it continues to rapidly penetrate the wireless communication market.
REVA, Inc. will continue to provide highly desirable wireless communication to RWN's commercial customers and end users including Quik Internet, MetLife, hospitals, banks, major airports and police departments from southern Oklahoma to northern Texas. REVA, Inc. is headquartered in Roanoke, Texas and plans to expand and enhance its recently acquired RWN service locations in Wichita Falls and surrounding areas.
The merger with RWN broadens the range of REVA's Wireless services from Oklahoma to the Dallas/Fort Worth area. The additional span of coverage by this merger expands REVA's business model in the wireless internet industry. REVA, Inc. currently provides wireless services in over 25 cities and plans to expand into other locations. This wireless technology is used to provide Internet Services and enable broadband solutions to residential and commercial users in non-metropolitan areas where broadband is limited or nonexistent.
President of REVA, James E. Ontiveros, stated, 'We are following our Strategic Business Plan that moves REVA, Inc. into a dominating position in the wireless communications market. This particular merger transfers additional service locations, adds commercial customers and complements REVA's residential client base while adding to REVA's revenue stream.'
CURRENT BUSINESS INFORMATION:
REVA Inc. historically is a developer and manufacturer of Security & Surveillance, TeleHealth, and Video Compression systems. The Company designs and manufactures technology and products for the video communication market and provides wireless internet technology to the wireless communications market.
The Company's remote video communication products can transmit (via compression) video, audio, and data over various communication medias at speeds that far exceed those of its competitors.
USXP news..............
NOTE:.....at .063 it's getting cheap again.....
NEW YORK, Dec 17, 2003 (BUSINESS WIRE) --
Universal Express, Inc. (OTCBB:USXP.OB), has acquired a portfolio of seasoned and performing commercial lease receivables valued in excess of $3 million gross with servicing provided by one of the top 50 banks in the United States. The company's subsidiary, Universal Express Capital Corp., will manage the portfolio.
'With this acquisition, Universal Express has purchased a valuable asset that simultaneously provides revenues and an ongoing wholesale lender relationship with one of the top 50 banks in the United States,'said Richard Altomare, chairman and chief executive officer. 'We now have in place a foundation for booking transactions with leading national banks. As a result, we will be able to book these transactions in the future as an asset, which will strengthen the balance sheet and improve operating cash flow. In addition, the portfolio gives us access to potential customers for future lease/financing volume.'
Universal Express, Inc. owns and operates several subsidiaries including Universal Express Capital, Universal Express Logistics (including VirtualBellhop, WorldPost and Luggage Express) and the Private Postal Network. These subsidiaries provide the private postal industry and consumers with value-added services and products, logistical services, equipment leasing and cost-effective delivery of goods worldwide.
More information and Web site locations are available at www.usxp.com.
SSPC, at .0045 is up 80%...more about.....
About a week ago they announced that they would be voting on a 1:15 reverse split.
Ever since then the PPS has been showing strength...go figure...
FWIW.....this is the company that runs Generators on taco grease.
(had to add that....:)
PVCT news..................
KNOXVILLE, Tenn., Dec 16, 2003 /PRNewswire-FirstCall via Comtex/ --
Provectus Pharmaceuticals, Inc. (OTC Bulletin Board: PVCT) announced today that it is offering for sale up to approximately 1 million U.S. dollars of its restricted common stock. The transaction is a Regulation S offering to foreign investors as defined by Regulation S of the Securities Act of 1933, as amended (the 'Securities Act'). The restricted shares cannot be traded for 12 months. After the first 12 months, sale of the shares are subject to restrictions under Rule 144 for an additional year. The company has engaged a placement agent to assist it in the offering.
'This funding, if successful, will allow us to further advance our ethical oncology and dermatology therapies and support production and sales of the Company's line of over-the counter products'said Provectus CEO, Craig Dees, Ph.D.
Provectus Pharmaceuticals Inc. licenses and sells products in three sectors of the health-care industry: 1)-prescription medications and treatment, 2) medical devices, and 3) over-the-counter (OTC) pharmaceuticals. Prescription drug products and devices treat diseases of the skin and many types of cancer. OTC products address complementary markets, primarily those involving skin care and comfort.
This news release is not an offer to sell or the solicitation of an offer to buy the common stock discussed herein. The common stock being issued in this offering has not been registered under the Securities Act and may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act. The company has not agreed to file a registration statement covering the offer and sale of the shares.
The company's offices and laboratory are located at 7327 Oak Ridge Highway, Suite A Knoxville, TN 37931; telephone: 865/769-4011. For more information, contact the company at info@pvct.com or visit the corporate Web site: www.pvct.com .
TALL files 8-K..more about.........
In its financial statements for the quarter ended September 30, 2003 as filed
with the SEC as a Form 10-QSB on November 19th and as amended in a Form 10-QSB/A
on December 8, 2003 the company included the following statement in its
Subsequent Events section.
"On November 12, 2003, the Company entered into an agency agreement with an
unrelated party to raise up to $7,000,000 in equity financing to enable the
Company to purchase a 23% equity interest in an unrelated company that is
engaged in certain technology within the health care industry. Under the terms
of the agreement, the Company will sell 50,000,000 shares to certain investors
at $.14 per share. In accordance with the existing letter of intent, the 23%
investment will cost $10,000,000 with additional funds expected to come from a
term loan. Under the terms of the equity financing the Company will be seeking
to register the 50,000,000 shares at the earliest opportunity.
If the offering is completed, the agent will receive a cash commission equal to
4% of the gross proceeds of the offering. The Company shall also issue to the
agent a number of freely tradable common shares equal to 5.6% of the aggregate
number of common shares issued pursuant to the offering and a number of
restricted common shares equal to 6.47% of the aggregate number of common shares
being issued pursuant to the offering as additional compensation. Also, in
connection with the above offering, the Company will be responsible at the
escrow release date for all reasonable costs and expenses of the agent not to
exceed $100,000. As collateral for these payment obligations, Brian McDonald,
Peter Hamilton and Kevin Birch, each of whom are insiders of the Company, have
agreed to pledge an aggregate of 3,000,000 registered common shares of the
Company."
IVP Technology advises that it will not be purchasing the 23% equity interest in
the unrelated company as the company to be invested in did not meet certain due
diligence requirements. IVP Technology continues to maintain relationships with
the investor group and intends to pursue other investment opportunities. No fees
have been incurred with regard to the above transaction except certain legal and
scientific analysis expenses estimated to be less than $10,000.
lostcowboy.....better info....
You can pretty well ignore my last post.....:) sorry.
I went back into Control Panel/modem and tried to update my driver again.
In process a window came up saying that a file, ext1059m.cat could not be found on the source disk,(my modem install CD).
The last time I tried this I couldn't find that file, so I skipped it.
This time, I tried harder, found it and installed it.
Unfortunately, that didn't change a damn thing.
I went back to PCpitstop.com and ran tests on my upload and download speeds.
Downloads are acceptable at 50 kb/s, but uploads are still only 29 kb/s. AS I understand it, that shouldn't be lower than 85% of the rated value, which in this case, is 53 kb/s.
Are there any other tests I can run to check or correct the upload speed problem?
TIA
lostcowboy, it's a Creative Blaster V.92 for Win98.
A couple of days ago I uninstalled the modem and reinstalled it.
I tried to do the same with the driver(s), but I wasn't sure of what I was doing.
The modem CD starts automatically when I put it in the drive, but I'm given several choices of things to do/install and am not sure which is right.
I also run Spybot on a regular basis, as well as EasyCleaner and CWSShredder.
I ran the Norton anit-virus program a few days ago and found nothing..........but, I uninstalled it because, as a constantly running program, it was causing problems.
I also have a small program called NoAds which I usually let run underneath. At times, like when I defragment, I disable it.
One more point.........When defragmenting today it stopped and started several times, implying a running program. I have no idea what that might have been.
Modem problem,(?).............
I'm using a V.92 dialup modem about six months old.
I'm beginning to think it's going on the fritz.
I've gone to PCpitstop.com and ran checks.....Performance is very poor for uploads, but they can't pinpoint the problem.
I've also gone into Control Panel, but all I can find is, "this device is working properly."
Are there any checks I can run or any tests I can run to give me a hard answer?
Please don't say drop the dialup. I know that, but a ISP bill of 5.95 a month is hard to walk away from.......:)
TIA
re PACC.........................
hey yo, after reading your post I took a hard look at PACC.
I was surprised to see the 1:30 RS last March, but seeing that, I did my post-RS DD on it.
First, what it did six months ago was a classic post-RS bounce.
It could be setting up to do it again.
The bottom/bounce number I came up with was .001
Before, it bounced a little early.
Friday, it bottomed at .0017 and closed at .0022
The beginning of a second bounce????
The thing I find troubling is the OS. As of a couple of months ago it was 909,877,945 million.
As of May of this year the OS was 287,336,868 million.
In less than four months the OS was increased by more than 600-million shares!
I couldn't find any information on the acquisition that you mentioned, which is supposed to be announced by year's end.
Considering the size of the OS, if there is an acquisition it will more than likely come with another big reverse split.
Also, considering the size of the OS, I'll be very surprised to see do something like a triple. There are just too many shares out there for the price to move significantly.
I will watch it though.
hey yo...first, ya gotta send me five bucks!..:)
The email list is free and it's one of the best DD sites on the web. SmallCapCenter.com
Just set up a watch list and click on the email alerts box whenever you add a stock.
BTW, If you have any problems or questions for SECInfo.com, Fran Finnigan, the owner is very nice and fixes any glitches almost immediately.
hey yo, yes, I subscribe to SECInfo.com. They have all the information that FreeEDGAR has plus, they send my an email announcement for any filings, as they come out, for any company I want.
Whenever I'm interested in a company I go to their site, take a look at the filings and check the email-me box for any future filings. From then on it's automatic.
Linchuck, that IS interesting, but I'm not sure it's worth 200-bucks a month.
They aren't breaking any rules because it's no different than you or I digging up information on a company and selling it.
Interesting 8-K filed by HMDR..more about.....
Home Director, Inc. announced that on December 9, 2003, it sold units
of its equity securities for approximately $1.4 million in a private offering.
Net proceeds to the company were $1,241,915. The company sold a total of
1,644,616 units, each consisting of one share of common stock and one three-year
warrant to purchase one share of common stock, at a purchase price of $0.854 per
unit. Each warrant is exercisable at $1.068 per share.
The securities sold in the private offering have not been registered
under the Securities Act of 1933, as amended, and may not be offered or sold in
the United States in the absence of an effective registration statement or an
exemption from applicable registration requirements. This report does not
constitute an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state.
NEOM Dir James Keil, has filed another form 4. This one to sell 100K shares.
That makes about half of his total holdings.
firefight4...welcome.....eom
Re ADZR...something funny going on??........
In the last six months the PPS has moved from .02 to the currant price of .21.
Today, two Directors, Daniel Wasserman and John Cardona, have, so far, filed five form 4 filings to sell stock.
About a quarter million shares each.
An insider pump and dump?.......
Wise, re AGRD.............
This is one of my post-RS bounce picks.
Coming off a 1:50 RS in August of 02 I had picked a bottom/bounce price of .004, but it appears to have done a bounce at .0065, sluggish as it is.
This PR could/should cause the PPS to continue upward, but I don't expect to see any sort of run.
The problem is the OS.......now at about 254M.
It appears that, regardless of the positive sounding news, they continue to pay their bills by dumping stock.
That, in itself, doesn't mean the company is bad, just that they are having a rough go of it.
FWIW......:)
James Keil, a Dir of NEOM, filed a form 4 today to sell 280K shares, one third of his holdings.
Coming on the heels of their announcement of a Letter of Intent to merge, it's not much of an endorsement........:)
Linchuck, that poster is obviously a disgruntled shareholder of CYPT and what he says is probably true, but that doesn't make our-street liars.
I get the impression that they are kind of a shoddy operation that resorts to extreme headlines to sell their service.
But, like any other stock "service," you have to read it and decide for yourself.
dsertrat, I agree with linchuck, dilution is the key word.
No matter what label they put on it, eventually, more shares will be added to the OS.
You have to read the S-8 filing to see if they plan to dump right away, but even if they don't, the psychological effect of the filing usually means a drop in the PPS.
Plus, there are a lot of factors to take into consideration.
Sometimes a startup company may have a very sound business plan and a bright future, but until revenue starts coming in, they have to survive.....ergo, S-8 and dilution.
For a short play......it's almost always bad news.
NEOM filed 8-K..it could pop...more about.
NEOM currently trading at .155......more below.
On December 9, 2003, NeoMedia Technologies, Inc. ("NeoMedia") signed a
non-binding letter of intent (the "LOI") to acquire Triton Global Business
Services Inc. and its parent company, BSD Software Inc. (Pink Sheets: BSDS),
both of Calgary, Alberta, Canada.
The LOI outlined terms, including an exchange of one share of NeoMedia common
stock for each share of BSD Software, not to exceed 40 million shares. The
transaction is dependent on due diligence by both companies, approval by
NeoMedia's Board of Directors, BSD Software's Board of Directors, shareholders,
required regulatory approvals, and other conditions.
Triton, formed in 1998 and acquired by BSD in 2002, is an Internet
Protocol-enabled provider of live and automated operator calling services,
e-business support, billing and clearinghouse functions and information
management services to telecommunications, Internet and e-business service
providers. The acquisition is subject to completion of due diligence by both
sides, as well as Board approval and other conditions.
With NEOM at .155 and BSDS at .25, unless there's a lot more than the filing says, this LOI doesn't look so hot....but
NEOM could pop.
MSGL filed S-8 to dump 8M shares..eom
our-street filed charges against GAXI.......
Miami, FL, Dec 10, 2003 (M2 PRESSWIRE via COMTEX) --
Our-Street.com, an Internet-based, public company watchdog, announced today that it has filed a complaint with the Enforcement Division of the Securities and Exchange Commission against Galaxy Energy Corporation. (OTC BB: GAXI). The complaint alleges possible violations of Sections 10b-5, and 13a and 15 of the Exchange Act and Section 17 of the Securities Act. The complaint can be read in its entirety at http://www.our-street.com/featured.htm
Our-Street.com is an internet based public company watchdog that researches companies and files and publishes reports and complaints with various regulatory agencies. Previously, Our-Street.com's complaint against Aqua Vie Beverage Corporation (OTC BB: AQVB) was followed by a suspension in trading by the SEC and their complaints against Kingdom Ventures, Inc (OTC BB: KDMV) and Epixtar Corp. (OTC BB: EPXR) were followed by the companies'disclosure of investigations being initiated by the SEC and FTC respectively. Epixtar just announced yet another second action was started against it by the FTC. Most recently, Our-Street.com's latest featured company, Calypte Biomedical (OTC BB: CYPT), also disclosed it was informed by the SEC that an informal inquiry had been initiated regarding their activities as well.
Note: Our-street.com is not a financial or investment advisor and is not offering stock for sale or giving investment advice. For investment advice contact a non-conflicted registered investment advisor or non-conflicted broker. The best place to get information about a company is from the SEC.
Specific information about Galaxy can be gotten by using this link: http://www.sec.gov/cgi-bin/browse-edgar?company=galaxy+energy&CIK=&filen um=&Stat e=&SIC=&owner=include&action=getcompany Our-Street.com and/or their associates do not have a position Galaxy Energy.
Our-Street.com has not been paid or compensated in any way to conduct the research and file this complaint. Our-Street.com is member supported by subscriptions but members do not choose which companies Our-Street.com selects to profile. For more information refer to our disclaimer at www.our-street.com/disclaimer.htm.
CONTACT: Nick Tracy Enterprises, Ltd. Tel: +44 (0)207 900 2080 Fax: +1 425 740 0645 e-mail: info@our-street.com WWW: http://www.our-street.com
MSGL..The SEC filed a correction to a previously filed 8-K/A.
The original filing announced that about 93M shares were returned to the treasury.
At the time, the OS was about 145M and was reduced to about 53M
Since then, the company has issued more share to bring the currant OS to 95,323,714 million.
This SEC correction filing appears to be reducing the OS by about 93M, but the reduction has already been factored in.
Today, a knee-jerk reaction to the filing pushed the PPS up to .11 from .065........an increase of almost 67%
XKEM news..............
NEW BRUNSWICK, N.J., Dec 9, 2003 (BUSINESS WIRE) --
Xechem International (OTCBB: XKEM) today announced that it has entered into a binding letter of intent to acquire all the outstanding shares of Ceptor Corporation, a privately held drug-targeting company with a focus on neuromuscular diseases. Xechem will issue $6,000,000 of Convertible Preferred Stock to Ceptor's shareholders, and assume approximately $300,000 of debt. Under the terms of the agreement, no shares will be converted until at least 12 months from the closing of the transaction, which is to occur no later than January of 2004. In addition, Ceptor shareholders will receive certain milestone payments relating to the progress that Ceptor's compounds achieve in human clinical trials, and the filings of phase , phase and New Drug Application (NDA) with the Food and Drug Administration (FDA).
With its proprietary NEURODUR(TM) and MYODUR(TM) drug-targeting technologies, Ceptor has already successfully demonstrated, in animal trials, effective targeting and reduced dosage requirements for disorders such as Muscular Dystrophy, Multiple Sclerosis (MS), and Epilepsy. It is anticipated that patients will suffer significantly less side effects with the Ceptor formulations. Ceptor has also received Orphan Drug Status from the FDA for the use of Leupeptin, as a therapeutic treatment for traumatic injuries.
NEURODUR(TM) and MYODUR(TM) act by binding to specific membrane transporters which enable them and their 'passengers'to be deposited within the cell, skeletal and cardiac muscle in the case of MYODUR(TM), and neuronal cells in the case of NEURODUR(TM). The protease Calpain is the intended target in these instances. This targeting technology, however, can be applied to any drug having a suitable attachment site for transport to skeletal muscle, cardiac muscle and both the central and peripheral nervous system.
Ceptor was founded by Drs.'Alfred Stracher, Distinguished Professor and Chairman of Biochemistry, and Leo Kesner, Professor Emeritus, of Downstate Medical Center in Brooklyn, New York. Dr. Stracher is also the co-editor of the prestigious journal, Drug Delivery. 'We are excited about the merger with Xechem International', he stated. 'Xechem International, with its proprietary HEMOXIN(TM) for Sickle Cell Disease (SCD), will form the basis of a powerful Orphan Drug platform.'
Dr. Stracher elaborated on Ceptor's projected milestones for 2004, 'With the help of Xechem's infrastructure, its regulatory and marketing expertise, Ceptor believes it will be able to file two to three Investigative New Drug (IND) applications with the FDA in the upcoming year. We are also confident that we will also submit several new applications for Orphan Drug Status indications during '04'. Drs.' Stracher and Kesner will serve as consultants to Xechem.
William Pursley, Vice-Chairman and President of Xechem International commented on the transaction, 'Ceptor represents the perfect strategic fit for Xechem's orphan platform. MYODUR(TM) and NEURODUR(TM) can definitively address several neuromuscular orphan diseases where there is little hope today. We will focus first on getting MYODUR(TM) into the clinic for Muscular Dystrophy.'
Dr. Ramesh Pandey, Chairman and CEO of Xechem International commented, 'Ceptor's technology is unique. With Xechem's recently expanded management team, we now have the bandwidth to expand our pipeline. Bill Pursley has the experience and track record to spearhead Ceptor's products through the regulatory and marketing cycle. We welcome the distinguished Ceptor scientists to the Xechem team
Xechem International, Inc. is a fully integrated biopharmaceutical company focusing on proprietary technologies for orphan diseases. Its mission is to increase the quality and quantity of life of the people who suffer from these diseases.
HTBI,...news....more about....
I don't usually look at Pinksheet stocks, but I got into this news announcement before I realized it was in the Pinks.
All in all, it might be worth keeping on the edge of your radar and watching price movement.
(more after the PR)
December 8, 2003 11:11:00 AM
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Hot Brands, Inc., a Nevada corporation (OTC: HTBI), (www.hotbrands.biz), announced that it has signed a letter of intent with Paragon Steakhouse Partners, Inc. as debtor-in-possession to acquire certain assets of 8 Paragon Steakhouse locations, including leasehold interests, liquor licenses, all improvements, including FF&E in the restaurants, which are located in Michigan, Indiana and Ohio. Hot Brands, Inc. will purchase 8 leasehold interests out of bankruptcy court in a bid of $565,000, all cash deal, and will operate the Paragon Steakhouse units under the existing Paragon name for a limited time. Consummation of the acquisition will occur only after execution of a purchase agreement, Bankruptcy court acceptance, and approval of the Hot Brands bid.
Hot Brands Chairman and CEO William E. Curtis stated, 'At current revenue levels, these high-quality Steakhouse units will add approximately $11 million in annual revenue to Hot Brands'bottom line. The Hot Brands management team has a long experience with turnaround projects, so we know we can substantially improve the revenue stream of these properties and bring them to profitability through the injection of new capital, by bringing in fresh management and improving overhead controls. These established units are prime destination restaurants, and are synergistic additions to our acquisition and management concept.'
More Information about Paragon Steakhouses
The Paragon Steakhouses specialize in complete steak and prime rib meals, and also offer fresh fish and other lunch and dinner dishes. The average dinner check is approximately $26, including alcoholic beverages. Hot Brands management believes that Paragon's emphasis on quality service and the limited menu of its restaurants, with its concentration on high quality USDA choice-graded steaks and prime rib, distinguishes the Steakhouse restaurants from competitors. The Paragon Steakhouses average approximately $1.8 mil. each in annual revenues.
More Information about Hot Brands
Hot Brands, Inc. operates 43 Hot 'N Now fast food restaurants in Michigan, Wisconsin and Indiana, of which 23 are company owned and 21 are franchised. System-wide 2002 gross sales for the units were approximately $25 million annually. The rapidly growing Hot 'N Now Business currently has over 450 employees, all of which either work for the corporate office or at the operations of the corporate owned locations. In addition the franchise locations employ over 300 additional personnel. Each location has approximately 15 employees, including three Managers-in-training and one salaried General Manager.
Hot Brands is launching an aggressive effort to acquire other restaurant assets that are synergistic with the Hot 'N Now Business. Any such acquisition may be structured as a merger, stock exchange or cash purchase. Hot Brands will favor companies with strong operating revenues that lend themselves to the establishment of a franchise program or similar means of rapid establishment of a distribution network. Hot Brands management have substantial experience in the turnaround of distressed restaurant and food properties and will be looking for sound assets that can be bought cheaply and quickly overhauled to profitability.
A little over two months ago, HTBI acquired a Nevada Corporate shell trading on the Pinks and went public for the first time.
Within two weeks the PPS ran from .005 to .829.
Since then it has been dropping like a rock and is currently at .185
The Nevada Charter is in jeopardy because it's in default.(I suspect it was in defautl when then acquired it)
This can be fixed by paying something like a $65 annual fee.
Because of being in the Pinks there is no financial data avaliable, but this cash offer for the assets of Paragon, (instead of shares), combined with the volatility of the PPS, inplies a lot.
Actual acceptance of the cash offer by the Bankruptcy Court may will cause this to bottom and bounce.
In short; This company is making money and expanding. The accquisition of a Pinksheet shell as opposed to a listed shell may not have been their best decision, but there it is.....and,
as a successful corporation which operates in several States, we could well see some corrections in the corporate direction.
QTFV, news..at .09 up over 8%......
WESTLAKE VILLAGE, Calif., Dec 08, 2003 (PRIMEZONE via COMTEX) --
QT 5, Inc. (OTCBB:QTFV), manufacturer, distributor and marketers of biomedical diagnostics and NICOWate(tm), a Homeopathic Nicotinum Formula, today announced it will be providing up to 10,000 HIV 1 &2 tests for investigational evaluation by potential Governmental and Institutional customers. Although the test is currently in Phase III ease of use in the United States, the company has already received investigational sample requests from vendors supplying China, Taiwan and a number of European Government Agencies.
'Once we announced the dramatic potential and superior benefits of our new products, we experienced an overwhelming rate of inquiries,'according to QT 5, Inc. CEO Timothy J. Owens. 'This overwhelming interest confirms our company's belief in the viability and potential impact of our patented Target System Diagnostics Platform. The Ten-minute HIV 1 &2 Test certainly addresses one of the most timely and widespread diagnostic demands in Biomedical market today. Perhaps the most exciting thing for us is the fact that it still represents only a fraction of the overall long-term potential of our entire line of Diagnostic Products. With 8 other quantifiable and qualitative blood tests and a SAMHSA 5 Urine test already FDA approved, the imminent availability of the HIV 1 &2 Test signals the first of countless additional products in Development and under consideration.'
The Company also announced along with the imminent availability of these samples, they are encouraging all qualified parties that would like to receive evaluation samples, contact them immediately at govtsales@qt5inc.com.
About QT 5, Inc.
QT 5, Inc. is a Delaware corporation formed in April 1999 as a manufacturer, distributor and marketer of Bio-Med testing and Homeopathic products. QT 5, Inc. currently manufactures and markets NICOWater, its breakthrough Homeopathic Nicotinum (nicotine) product designed to relieve the symptoms of tobacco cravings. QT 5 continues to do research and development regarding future products for lifestyle enhancements. QT 5, Inc. is headquartered in Westlake Village, California. For more information on the Company please visit: www.qt5inc.com. NICOWater(tm) is a Homeopathic Drug product that is sold under the FDA's Compliance Policy Guide Conditions Under Which Homeopathic Drugs May Be Marketed.
SSPC up 75% at .0035....filed an amendment to their last 10K..eom
VIVI news........
FT. LAUDERDALE, Fla., Dec 8, 2003 (BUSINESS WIRE) --
Viva International, Inc. (OTCBB:VIVI) announced today that its Board of Directors has retired 12 1/2 million shares of its convertible preferred shares representing 125 million fully diluted common shares. As a result, the amount of fully diluted common shares is being reduced by approximately 75%.
Robert Scott, Chairman of Viva International, Inc. commented as follows, 'The Company previously issued preferred shares as a deposit for certain aircraft equipment. Accordingly, our aircraft equipment needs have evolved to the point of requiring modification to existing agreements. As a result, significant adjustments to the amounts of preferred shares previously deposited have been obtained'.
Mr. Scott, added, 'Making capitalization adjustments, when appropriate, demonstrates our commitment to obtaining value not only for the Company but for our share owners. We believe that we are close to obtaining approval on a financing package that will enable us to complete certain necessary agreements. Our financial lenders are pleased with this decision to retire the preferred shares'
GBLXQ, at .023, may be coming out of BK..eom