NUGL, Inc. (NUGL)

[stocksrunner]

I think i found the answer for Blackhawk shell it's being cleaned!!

just found a interesting PR from Hemiwedge Industries.

Remember, it is the same company that Mr Frank is Director...

Maybe the answer to clean Blackhawk is here

http://app.quotemedia.com/quotetools/newsStoryPopup.go?storyId=22111277&topic=HWEG&symbology=null&cp=off

Hemiwedge Industries, Inc. Evaluating Strategic Options
Hemiwedge Industries, Inc. Evaluating Strategic Options

CONROE, Texas, April 23 /PRNewswire-FirstCall/ -- Hemiwedge Industries, Inc. (OTC Bulletin Board: HWEG) announced today that it is pursuing and evaluating several strategic options on behalf of its shareholders. The Company may engage a financial advisor to advise it on a variety of potential opportunities directed at maximizing shareholder value. Options could include a possible merger, the sale of all or a portion of the company, restructuring, recapitalization, and other transactions.

In the past year, Hemiwedge has taken a number of steps to strengthen its balance sheet, including the sale of assets of its Shumate Machine Works division as well as the license of certain assets related to its proprietary Hemiwedge technology. These transactions resulted in the reduction of $5 million in debt as well as a cash infusion of $3.5 million. However, despite these efforts, Hemiwedge has experienced continued difficultly raising the necessary additional capital and currently believes it needs to exploit the expansion of its Hemiwedge(R) Cartridge valve product line in the current economic climate.

Kenton Chickering, CEO of the Company stated, 'Sales, new product installs and applications and customers of our Hemiwedge(R) Cartridge valve product increased significantly in fiscal 2008 and interest in the product remains strong in a variety of industrial markets. It makes sense for us at this time to evaluate all of the different ways in which we can capitalize on potential opportunities for the benefit of shareholders.'

The Company intends to complete its review as quickly as possible while continuing to focus on its current business plan. Hemiwedge will disclose its plans if and when the board decides on a specific course of action. However, there is no assurance that this process will result in any specific transaction or any changes in the company's current direction.