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VOLUME 223
Companies featured in the current edition of the newsletter: ADSX, AOOR, ASPN, ASPZ, AVNA, BDGR, BMXI, CDGT, CNR, CYTR, ESNR, GNBT, GSHF, HYTM, ISON, ITRO, NTRN, PACT, PEFF, PST, PTII, RTK, SWTS, TPPH, XWG
The sharp selloff that occurred on January 19th is but a distant memory, as stocks posted an impressive turnaround as initial concerns regarding a slowdown in profits were reversed after a number of industry bellweathers reported better than expected earnings. The major indices closed the week on a positive note with the Dow rising 239 points, bringing it back into positive territory for the year, up 1.8%. The Nasdaq rose 56 points, up 4.5 % for the year and the S&P also increased 22 points, bringing its yearly gain to 2.8%. The Russell continued to soar and outperform all major indices and closed up 27 points for the week, posting an impressive gain of 8.8% for the year. The Russell 2000 is now at an all-time high.
Half of the S&P 500 companies have reported results, which suggest that while fourth quarter results were very strong, with earnings rising 12.6% year-over-year, growth may be slowing based upon more cautious forward guidance. A mixed batch of economic reports were released last week, showing increased new home sales, rising incomes, strong jobs growth and solid durable good orders, offset by declining existing home sales and a surprisingly weak GDP report of 1.1%, that was well below consensus estimates of 2.8% (mainly attributable to a drop in auto sales and lower defense spending by the Government). However, investors seemed to focus primarily on favorable earnings reports, and the soft GDP results, which fueled speculation that the Fed may pause its tightening activity after its meeting on Tuesday.
The earnings calendar is once again busy this week. On Monday morning Exxon Mobil (NYSE: XOM) will report results followed by AFLAC (NYSE: AFL) after the close. Before the opening bell on Tuesday, Boston Scientific (NYSE: BSX), Kellogg (NYSE: K) and Merck post numbers with tech giant Google (NASDAQ: GOOG) releasing earnings after the close. Boeing (NYSE: BA) starts the morning on Wednesday with its results along with Devon Energy (NYSE:DVN) and Time Warner (NYSE: TWX). Before the bell on Thursday, Tyco (NYSE: TYC) posts numbers with Amazon.com (NASDAQ: AMZN) announcing after the close. All told, there are 90 companies in the S&P 500 expected to post results this week.
CSFB holds a four-day Energy Summit beginning Monday in Vail. BreanMurray sponsors a two-day Investor Conference in New York City on Tuesday. The two-day Citigroup Financial Services Conference also begins on Tuesday in New York City.
The economic calendar will be packed as well, highlighted by the Federal Reserve’s announcement on interest rates on Tuesday afternoon, where in Alan Greenspan’s final meeting as Fed Chief the body is expected to raise rates for the 14th consecutive time a quarter of a percentage point. On Monday both December Personal Income and Personal Spending will be announced at 8:30. Tuesday morning starts with the Employment Cost Index for Q4 being reported at 8:30 followed by the January Chicago PMI and Consumer Confidence numbers at 10 am. Tuesday evening, President Bush delivers his State of the Union Address. Wednesday, December Construction Spending and the January ISM Index will be announced at 10 am followed shortly after by Crude Inventories. Fourth quarter Productivity and Weekly Jobless Claims will be released on Thursday at 8:30. Friday will be a very busy morning with the announcement at 8:30 of the February Employment Report that is expected to show that 245,000 new jobs were created, followed later that morning by the University of Michigan’s Consumer Sentiment report. December Factory Orders will also be released.
Hythiam, Inc. (NASDAQ: HYTM), a healthcare services management company that licenses the PROMETA™ physiological protocols designed to treat substance dependence, awarded the Gay and Lesbian Medical Association (GLMA) an unrestricted educational grant of approximately $320,000. GLMA will use these funds to examine methamphetamine use in the gay community and treatment options, and to make recommendations about how health care providers can get meth-addicted patients into treatment. Hythiam's grant will allow GLMA to examine the extent of meth use among gay and bisexual men and the most promising options for treating meth addiction, and to develop recommendations about how health care providers can get patients dependent on methamphetamine into treatment. Crystal methamphetamine is a powerfully addictive drug that has had devastating consequences for significant parts of the gay male community. A joint study conducted from 2000 to 2001 by the University of California San Francisco AIDS Health Project, Centers for Disease Control and Prevention, and the San Francisco Department of Public Health found that those who used meth were three times as likely to contract HIV compared to those who abstained. The move could be a precursor to the company marketing aggressively to the gay community. Shares fell 26 cents last week to close at $6.56.
Isonics Corporation (NASDAQ: ISON), developer of innovative solutions for the homeland security and semiconductor markets, announced that its wholly-owned subsidiary, Protection Plus Security Corporation (PPSC), has been awarded a two-year contract to provide security services for the National Basketball Association (NBA). The contract establishes PPSC as a preferred security services provider for the NBA and under the agreement PPSC will provide a wide range of security services at multiple NBA corporate sites in the greater New York City area. The stock ended the week at $2.05, up 5 cents.
CytRx Corporation (NASDAQ: CYTR), a biopharmaceutical company focused on developing products primarily in the area of small molecules and ribonucleic acid interference (RNAi), announced that it has submitted a protocol to the FDA reflecting its plans to treat patients in an open-label extension of its ongoing Phase II clinical trial with its orally administered, small molecule product candidate arimoclomol for the treatment for amyotrophic lateral sclerosis (ALS or Lou Gehrig's disease). The current 80-patient, 10-center, double-blind Phase II study, which is designed to provide additional safety and tolerability data in combination with the current Phase II trial. Currently, there are no effective therapeutic treatments available for those suffering from this devastating neurodegenerative disease that carries an average life expectancy of 18 months following diagnosis. CytRx expects to report final data from its ongoing Phase II trial with arimoclomol for ALS in the third quarter of this year, followed by initiation of a pivotal Phase IIb clinical trial, subject to FDA review and acceptance. The stock ended the week at $1.19, down 1 penny.
Forbes Medi-Tech Inc. (NASDAQ: FMTI), a developer of innovative products for the prevention and treatment of cardiovascular disease, announced last week the extension of a major sterol supply agreement for a minimum of $4.8 million between Forbes' manufacturing joint venture, Phyto-Source LP, and a large multinational company. The contract was originally signed in September 2002, renewed in June 2004 and under the latest extension is effective until the end of 2006. For competitive reasons, the identity of the customer and contractual terms and conditions were not disclosed. Manufacturing of the phytosterols will be conducted by the Phyto-Source joint venture manufacturing facility in Pasadena, Texas, a 50-50 joint venture between Forbes and Chusei (USA) Inc. Although the company has not disclosed financial terms, given the steady growth at the unit and limited capacity relative to demand, we expect that the contract was on at least as favorable terms as the previous one. The company will provide more details when it reports first quarter results. Shares ended the week at $1.76, down 4 cents.
Digital Angel Corporation, a majority-owned subsidiary of Applied Digital (NASDAQ: ADSX), a leading provider of identification and security technology, proposed a comprehensive national electronic RFID (radiofrequency identification)solution to satisfy renewed interest in a program that will quickly identify and track animals of interest in a health incident such as an outbreak of Mad Cow Disease. The system includes electronic RFID tags and scanners which work in conjunction with various databases to register the livestock information to quickly isolate any problem discovered in an animal from birth through slaughter and distribution. In both 2005 and 2006, the United States Congress (through annual appropriations bills) acknowledged RFID technology and specifically Digital Angel's RFID technology as a viable and logical solution to the country's health concerns related to Mad Cow and other infectious diseases. With growing international pressure stemming from Japan's overly cautious renewed ban on U.S. beef and last week’s Mad Cow confirmation from Canada, it is clear that a technology solution to global animal health concerns is more necessary and relevant than ever. Shares ended the week at $2.77, up 1 cent.
Volume Alert: Shares of Generex Biotechnology Corporation (NASDAQ: GNBT), a leader in the area of buccal drug delivery, traded over 8 times average daily volume and flirted with its 52-week high of $1.51, after regulators set a date to discuss potential human studies of its experimental bird flu vaccine. The FDA said it will meet with Generex on February 10th to discuss what it will need to apply for approval and to begin human studies. The bird flu strain targeted by Generex's Antigen Express vaccine has killed at least 80 people and decimated bird populations throughout Asia. Scientists have warned that it could mutate, becoming easily transmittable between humans. Generex’s vaccine can be manufactured synthetically, making it less expensive and quicker to produce. Generex also announced the interim results of an ongoing clinical trial designed to assess the safety and immunological potency of a novel peptide vaccine in patients with breast cancer. The therapeutic vaccine is being developed by its wholly-owned subsidiary, Antigen Express where the compound, AE37, is a second-generation peptide vaccine designed to stimulate a potent and specific immune response against tumors expressing the HER-2/neu oncogene. A significant percentage of breast cancers as well as cancers of the lung, colon, stomach and pancreas express this oncogene. The trials will include up to 15 patients with stage II breast cancer. In short, AE37 appears to be safe, well-tolerated and exhibits a dose-dependent immunologic response. Once this initial trial is completed, a pivotal trial looking at efficacy with a larger number of breast cancer patients will be planned. Finally, Generex received $6 million from four of its investors from the exercise of warrants issued in the second half of last year, bringing the total that the company has raised over the past several months to approximately $22 million. The stock ended the week at $1.09, up 9 cents.
Volume Alert: Shares of the Wireless Xcessories Group, Inc. (AMEX: XWG), a nationwide manufacturer and distributor of electronic and cellular accessories, surged 32.7% last week on more than three times average volume, after the company announced that it had entered into an inventory and logistics management agreement with ANYCOM Technologies GMBH, a leading German manufacturer of Bluetooth wireless phone and computer accessories. Under the agreement, the company will manage the inventory, shipping, and invoicing of ANYCOM's existing United States customer base, including Amazon.com Inc., Buy.com, Ingram Micro Inc., CDW, NewEgg, and E-Cost, among others. ANYCOM estimates that Wireless Xcessories will ship on its behalf in 2006 a minimum of $2.5 million of accessories, including Bluetooth headsets, keyboards, computer mice, USB adaptors, GPS receivers, and car kits. The stock rose $1.64 to close the week at $6.65.
PacificNet (NASDAQ: PACT), a leading provider of value-added telecom services in China, announced that its Outsourcing Contact Center has been ranked the second best contact center by Greater China CRM, a leading independent CRM and Contact Center evaluation organization based in Shanghai and Hong Kong. The survey was conducted during the second half of 2005, in which 517 sets of valid questionnaires were recorded via online and on-site, with the evaluation methodology being based on analyzing the following ratings: Product & Service rating, Brand Image, Product Capacity, Service Quality, and Most Preferable Choice. The stock rose 13.9% for the week to close at $8.30, up $1.01 on strong volume. The stock reached its highest level on Friday since mid-August.
Junior energy company CanArgo Energy Corporation (AMEX: CNR) said last week that it had entered into an agreement in principle on a $13 million private placement of subordinated convertible guaranteed loan notes with a small group of accredited investors. The notes will be convertible in whole or in part into CanArgo common stock at a price of $1.37 per share, subject to certain anti-dilution adjustments, and will mature on September 01, 2009.This transaction is subject to various approvals. The proceeds are to be used to fund the development of the Kyzyloi Gas Field in the Republic of Kazakhstan and on the commitment exploration programs in Kazakhstan through Tethys Petroleum Investments Limited, the wholly owned subsidiary of CanArgo which holds CanArgo's Kazakhstan assets. Shares ended the week at $1.38, up 1 cent.
Junior energy company Aspen Exploration Corporation (OTCBB: ASPN), announced the commencement of the 2006 drilling season with a gas discovery in the Sacramento Valley gas province of northern California. The Merrill #31-2 well located in the Malton Black Butte Field, Tehama County, California, was drilled to a depth of 2,450 feet and encountered approximately 40 feet of potential gas pay in the Lower Kione formation. Production casing was run based on favorable mud log and electric log responses. This well also encountered approximately 100 gross feet of partially depleted gas sand in the Upper Kione formation, which yielded valuable data regarding the possibility of drilling a future underbalanced horizontal well in this zone. The Upper Kione is a prolific gas producing zone in this area. Aspen has a 31% operated working interest in this well. The WGU #15-10 well located in the West Grimes Gas Field, Colusa County, California, was directionally drilled to a depth of 8,520 feet (7,975 feet TVD) and encountered potential gas pay in the Forbes formation. The Forbes interval was perforated and commenced gas sales a flow rate of 140 MCFPD. Aspen has a 21% operated working interest in this well. The stock ended the week at $5.82, up 10 cents.
China Digital Media Corporation (OTCBB: CDGT), a rapidly developing digital media company in China, highlighted the accomplishments of its wholly-owned subsidiary Arcotect Technology (GZ) Ltd. - Nanhai Branch, the sole digitalization migration contractor and operator of digital television services in Nanhai. Such achievements included the migration of approximately 150,000 subscribers into digital in the city of Nanhai, the deployment of an operating support system to automate all processes, the building of a sales team of more than 120 experienced people and the production of 47 in-house TV commercials to promote the company's value-added packages which have been broadcast on-air for over 87,000 times. Arcotect Nanhai also announced that it expects to double the existing number of digital TV subscribers by the end of 2006. Shares ended the week at $1.44, down 6 cents.
Brookmount Explorations Inc. (OTCBB: BMXI), a developer of resource properties throughout North & South America, announced that is in the final stages of preparations to commence a drilling program on its Mercedes 100 project. The drilling program is intended to explore the significant potential of open pit mining on the Mercedes 100 property as well as to do a Reserve Audit to place more ore reserves into the proven category. Previous reserve estimates have placed the potential reserves anywhere from 480,000 tons to 1,950,000 tons of ore with one ounce of gold equivalent per ton. Brookmount's key property, the Mercedes 100 Project in central Peru, is situated on the geological trend hosting the prolific Arequipa Gold Deposit. Shares closed at $0.80, down 3 cents.
Volume Alert: Shares of biotechnology company Tapestry Pharmaceuticals, Inc. (NASDAQ: TPPH) rose 52% on Friday on more than four times average volume. The company recently said that it had initiated the treatment of patients in a second Phase I clinical trial for TPI 287, a proprietary third generation taxane. Shares rose 7 cents last week to close at $0.35.
Environmental business development company GreenShift Corporation (OTCBB: GSHF), reported that 100% of the stock of GreenShift Industrial Design Corporation and Tornado Trash Corporation was acquired by Veridium Corporation, a portfolio company of GreenShift Corporation. According to the acquisition agreement, GreenShift will receive Veridium equity equal to about 10% of the total outstanding shares in Veridium in return for the sale of these two corporations. With the completion of these two acquisitions, Veridium currently holds the rights to more than a dozen proprietary universal processing, water purification, emissions control and waste recycling technologies where it expects to leverage its portfolio to generate revenue starting in 2006 to third party clients. Additionally, Veridium Corporation and Mean Green BioFuels Corporation, another portfolio company of GreenShift Corporation, announced plans of a joint venture on the conversion of fats from livestock and poultry facility wastes into biodiesel fuel. Veridium's technology enables livestock and poultry processing facilities to dramatically reduce the volume of sludge they are shipping and disposing, translating into reduced costs and increased profitability for livestock and poultry processing facilities. Poultry processing facilities alone will generate in excess of 50 million gallons or 10,000 tanker loads per year of this fat when utilizing Veridium's process, and this fat can be cost-effectively converted into biodiesel fuel. Veridium showcased many of its technologies at the 2006 International Poultry Expo that took place last week in Atlanta, Georgia. Shares remained unchanged for the week, to close at $0.08.
52-week high: Shares of junior oil and gas producer, Patch International Inc. (OTCBB: PTII), surged through their 50-day moving average on strong volume and reached a new high of $1.95 after announcing that it had entered into negotiations for the formation of a consortium to exploit certain key opportunities in the Alberta oil sands. Alberta's oil sands contain one third of the known reserves in the world with the largest and most accessible reserve being the Athabasca oil sands at 40,000 acres, that are estimated to have vast reserves of 175 billion barrels of oil. Patch International presents an exciting opportunity for investors as its strong cash position and experienced management team position the company for growth. With such strong global political uncertainty, the oil sands are increasingly on the U.S. radar screen as they focus on reducing their reliance on oil producing countries outside of North America. Additionally, Patch International announced that it has entered into a formal agreement with a private Alberta company to develop two high impact prospects that give PTII potential production forecasts of 1000 BOE/day within 12 months and 2000 BOE/day within 24 months. The projects are in the Halkirk and Peace River arch regions of Alberta, Canada where PTII has secured a 100% working interest and a 50% after payout on the Halkirk project and a 90% working interest with a 54% after payout on the Peace River project. These acquisitions will be funded from the corporate treasury without any further dilution of the company’s shares. The Peace River arch project is comprised of 5 separate sections totaling 3200 acres in north central Alberta and is known for producing a high rate of delivery and high reserves. Shares rose 60 cents, to close the week at $1.65, up 57.1%.
Junior oil and gas company Apollo Resources International, Inc. (OTCBB: AOOR) announced that its partner Deep Rock Oil & Gas for its Eppler No. 5 project, reported that the initial natural gas flow rate tests through the drill pipe on the Eppler No. 5 in Washington County, Oklahoma exceeded 900,000 cubic feet per day. The Eppler No. 5 represents the second of a four-well drilling project in Washington County, Oklahoma intended to both enhance the profitability and increase the proven reserves. Also, the company announced that its wholly owned subsidiary, Mountain States Petroleum Corporation, has begun producing natural gas from a well in southeastern Utah which had been shut-in for approximately two years. The well has produced an average of 1,050 MCFPD (thousand cubic feet per day) of raw gas per day since being upgraded during the month of January, yielding an average of 525 MCF per day of saleable natural gas into the pipeline. Lastly, Apollo reported that it was exercising its contractual right to rescind the March 2005 stock sale transaction with shareholders of JSC Kaliningradneft. The company's decision comes after protracted efforts to resolve serious issues that were discovered post-closing, as well as efforts to resolve the failure of JSC K to provide certain critical financial data that was represented in the March agreement. Shares fell 3 cents last week to close at $0.42.
Sweet Success Enterprises, Inc. (OTC: SWTS), which has relaunched a product line made popular by Nestle’s to tap into the rapidly growing demand for convenient and nutritious beverages, announced that it has completed the first significant shipment of its all natural beverage products into the South Florida region and has formed a relationship with a vendor which will enable it to sell its products in fifteen Midwestern and southern states. The initial focus in South Florida will be on the healthy shakes and the company's first of nine new functional beverages led by Power Blend, a stamina and endurance beverage that will have placement in the standard retail stores plus a special focus on night life locations. Southern Wine and Spirits, the largest distributor of their type in the U.S., has been selected to initially distribute the product in Florida where it has already ordered one mixed container of product (2,100 cases) for initial product placement. Rollout for products in Midwestern U.S. states will include initial distribution to about 400 stores and subsequent distribution in up to 2,000. The stock ended the week at $1.18, up 9 cents.
Volume Alert: Shares of Black Dragon Resource Companies, Inc. (OTC: BDGR) rose more than 17% on Friday on three times average volume. The company earlier in the week issued a letter to shareholders, where it cited short selling as one reason that its shares had not advanced further. The company is profitable and has been increasing production. The stock ended the week at $0.48, up 18 cents.
On The Wires: Applied Digital (NASDAQ: ADSX), a leading provider of identification and security technology, announced that its majority-owned subsidiary InfoTech USA, Inc. hired Jonathan F. McKeage, who has 18 years of experience on Wall Street, as its new President and Chief Executive Officer, where he will also serve on the Board of Directors. Rentech Inc. (AMEX: RTK), a developer of alternative energy sources, named its chief financial officer, Geoffrey S. Flagg, to the post of chief accounting officer, and hired energy industry executive Kevin M. Smith as its new CFO. Douglas M. Miller, a former Unocal executive, was also named to the post of executive vice president and chief operating officer. Advance Nanotech, Inc., (OTCBB: AVNA), a leading provider of financing and support services to drive the commercialization of nanotechnology discoveries, announced the appointment of Lowell I. Dashefsky as General Counsel, where he brings eight years of broad technological legal expertise to the company. Homeland security company Electronic Sensor Technology (OTCBB: ESNR) said that its Chief Executive Officer Matthew S. Collier had resigned. Teong Lim, a founder and former CEO of the company will serve as acting CEO until a permanent replacement is found. Neutron Enterprises, Inc. (OTCBB: NTRN), a developer of digital media solutions, announced the appointment of Ciaran Griffin as its new Chief Financial Officer whose experience includes ten years overseas on assignment with a multi-billion dollar international investment fund where he was responsible for all aspects of financial and management reporting and fund performance analytics. Holding company Patient Safety Technologies Inc. (AMEX: PST) that owns assets in various businesses, including healthcare, real estate and merchant banking, announced that Rick Bertran has been promoted to President of its wholly-owned subsidiary, SurgiCount Medical, Inc. where he brings over 15 years of surgical product and technology sales and marketing experience to SurgiCount. Itronics, Inc. (OTCBB: ITRO), a "Creative Environmental Technology" company and a world technology leader in photochemical recycling, will be presenting at the SCIA -- Southern California Investment Association's National Investment Conference in Irvine, CA on Saturday February 4th. Power Efficiency Corporation (OTCBB: PEFF), a developer and manufacturer of advanced energy savings technologies for electric motors, announced that Michael Varney has been named to the position of vice president of sales and marketing. Mr. Varney previously was the vice president of marketing at the Las Vegas Chamber of Commerce for almost nine years. The company also announced that it will hold its 2005 Annual Meeting of the Stockholders at 10:00 a.m. PST on February 16, 2006, in Las Vegas, Nevada.
A profile, description, or other mention of a company in the newsletter is neither an offer nor solicitation to buy or sell any securities mentioned. While we believe all sources of information to be factual and reliable, in no way do we represent or guarantee the accuracy thereof, nor the statements made herein. THE READER SHOULD VERIFY ALL CLAIMS AND DO ITS OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. This publication accepts compensation from companies that it features. This newsletter should not be regarded as an independent publication. Our editors may, from time to time, acquire positions in the companies that they cover. This could represent a conflict of interest. The CEOcast newsletter shall be under no obligation to inform readers about its trading activities. CEOcast's editors reserve the right to buy or sell shares in these companies at any time. The following companies, featured in this newsletter, have compensated CEOcast: Applied Digital, twelve thousand five hundred dollars per month, Advance Nanotech, ten thousand dollars per month and thirty thousand shares of stock for a one-year agreement, Brookmount Exploration, ten thousand dollars per month and two hundred twenty five thousand shares of stock for a six-month program, CytRx, fifteen thousand dollars per month for a six-month program, Generex Biotechnology, five thousand dollars per month and two hundred twenty five thousand shares of stock for a one-year program; CEOcast received five hundred twenty thousand shares from previous agreements, GreenShift Corporation, seven thousand five hundred dollars per month and eight hundred thousand shares of stock for a one-year program; CEOcast received five hundred thousand shares from previous agreement; Sweet Success, five thousand dollars per month and three hundred thousand shares of stock, Aspen Exploration, five thousand dollars per month and fourteen thousand shares of stock for a six-month program; CEOcast received twenty-eight thousand shares from a previous agreement, Rentech, seventeen thousand five hundred dollars per month for a six-month program, Pacificnet, five thousand dollars per month and twenty-six thousand shares for a one-year program; CEOcast received one hundred thousand dollars for performing additional services and fifty thousand shares under a previous agreement, Apollo Resources International, six thousand dollars per month and three hundred fifty thousand shares of stock for a six-month agreement, Patient Safety Technologies, seven thousand five hundred dollars per month and thirty thousand shares of stock for a one-year program, China Digital Media, seven thousand five hundred dollars per month and nine thousand shares of stock for a one-year program; Isonics Corporation, seventeen thousand five hundred dollars per month. Hythiam, ten thousand dollars per month and twenty-five thousand shares of stock for a one-year program; CEOcast received seventeen thousand shares from a previous agreement; an editor/relatives of CEOcast employees have also purchased six hundred eighty shares of stock, Itronics, six thousand dollars per month and two million warrants with an exercise price of sixteen cents, Power Efficiency Corporation, seven thousand five hundred dollars per month and three hundred thousand shares of stock for a six-month program, Wireless Xcessories, five thousand dollars per month and sixteen thousand shares of stock for a six-month agreement; Forbes Medi-Tech, ten thousand dollars per month, CanArgo Energy, twelve thousand five hundred dollars per month; CEOcast owns two hundred forty thousand shares of stock from previous agreements; Black Dragon Resources, two hundred fifty thousand shares of stock from Joe Lanza, a third-party shareholder; Tapestry Pharmaceuticals, eight thousand seven hundred fifty dollars per month plus an equivalent monthly amount of stock for a six month program, Electronic Sensor Technology, seven thousand five hundred dollars per month and one hundred thousand shares of stock for a three-month program; CEOcast received one hundred twenty thousand shares under previous agreements and an editor of CEOcast has purchased two hundred fifty thousand shares of stock for one dollar per share and has received warrants to purchase two hundred fifty thousand shares of stock at one dollar per share.
VOLUME 223
Companies featured in the current edition of the newsletter: ADSX, AOOR, ASPN, ASPZ, AVNA, BDGR, BMXI, CDGT, CNR, CYTR, ESNR, GNBT, GSHF, HYTM, ISON, ITRO, NTRN, PACT, PEFF, PST, PTII, RTK, SWTS, TPPH, XWG
The sharp selloff that occurred on January 19th is but a distant memory, as stocks posted an impressive turnaround as initial concerns regarding a slowdown in profits were reversed after a number of industry bellweathers reported better than expected earnings. The major indices closed the week on a positive note with the Dow rising 239 points, bringing it back into positive territory for the year, up 1.8%. The Nasdaq rose 56 points, up 4.5 % for the year and the S&P also increased 22 points, bringing its yearly gain to 2.8%. The Russell continued to soar and outperform all major indices and closed up 27 points for the week, posting an impressive gain of 8.8% for the year. The Russell 2000 is now at an all-time high.
Half of the S&P 500 companies have reported results, which suggest that while fourth quarter results were very strong, with earnings rising 12.6% year-over-year, growth may be slowing based upon more cautious forward guidance. A mixed batch of economic reports were released last week, showing increased new home sales, rising incomes, strong jobs growth and solid durable good orders, offset by declining existing home sales and a surprisingly weak GDP report of 1.1%, that was well below consensus estimates of 2.8% (mainly attributable to a drop in auto sales and lower defense spending by the Government). However, investors seemed to focus primarily on favorable earnings reports, and the soft GDP results, which fueled speculation that the Fed may pause its tightening activity after its meeting on Tuesday.
The earnings calendar is once again busy this week. On Monday morning Exxon Mobil (NYSE: XOM) will report results followed by AFLAC (NYSE: AFL) after the close. Before the opening bell on Tuesday, Boston Scientific (NYSE: BSX), Kellogg (NYSE: K) and Merck post numbers with tech giant Google (NASDAQ: GOOG) releasing earnings after the close. Boeing (NYSE: BA) starts the morning on Wednesday with its results along with Devon Energy (NYSE:DVN) and Time Warner (NYSE: TWX). Before the bell on Thursday, Tyco (NYSE: TYC) posts numbers with Amazon.com (NASDAQ: AMZN) announcing after the close. All told, there are 90 companies in the S&P 500 expected to post results this week.
CSFB holds a four-day Energy Summit beginning Monday in Vail. BreanMurray sponsors a two-day Investor Conference in New York City on Tuesday. The two-day Citigroup Financial Services Conference also begins on Tuesday in New York City.
The economic calendar will be packed as well, highlighted by the Federal Reserve’s announcement on interest rates on Tuesday afternoon, where in Alan Greenspan’s final meeting as Fed Chief the body is expected to raise rates for the 14th consecutive time a quarter of a percentage point. On Monday both December Personal Income and Personal Spending will be announced at 8:30. Tuesday morning starts with the Employment Cost Index for Q4 being reported at 8:30 followed by the January Chicago PMI and Consumer Confidence numbers at 10 am. Tuesday evening, President Bush delivers his State of the Union Address. Wednesday, December Construction Spending and the January ISM Index will be announced at 10 am followed shortly after by Crude Inventories. Fourth quarter Productivity and Weekly Jobless Claims will be released on Thursday at 8:30. Friday will be a very busy morning with the announcement at 8:30 of the February Employment Report that is expected to show that 245,000 new jobs were created, followed later that morning by the University of Michigan’s Consumer Sentiment report. December Factory Orders will also be released.
Hythiam, Inc. (NASDAQ: HYTM), a healthcare services management company that licenses the PROMETA™ physiological protocols designed to treat substance dependence, awarded the Gay and Lesbian Medical Association (GLMA) an unrestricted educational grant of approximately $320,000. GLMA will use these funds to examine methamphetamine use in the gay community and treatment options, and to make recommendations about how health care providers can get meth-addicted patients into treatment. Hythiam's grant will allow GLMA to examine the extent of meth use among gay and bisexual men and the most promising options for treating meth addiction, and to develop recommendations about how health care providers can get patients dependent on methamphetamine into treatment. Crystal methamphetamine is a powerfully addictive drug that has had devastating consequences for significant parts of the gay male community. A joint study conducted from 2000 to 2001 by the University of California San Francisco AIDS Health Project, Centers for Disease Control and Prevention, and the San Francisco Department of Public Health found that those who used meth were three times as likely to contract HIV compared to those who abstained. The move could be a precursor to the company marketing aggressively to the gay community. Shares fell 26 cents last week to close at $6.56.
Isonics Corporation (NASDAQ: ISON), developer of innovative solutions for the homeland security and semiconductor markets, announced that its wholly-owned subsidiary, Protection Plus Security Corporation (PPSC), has been awarded a two-year contract to provide security services for the National Basketball Association (NBA). The contract establishes PPSC as a preferred security services provider for the NBA and under the agreement PPSC will provide a wide range of security services at multiple NBA corporate sites in the greater New York City area. The stock ended the week at $2.05, up 5 cents.
CytRx Corporation (NASDAQ: CYTR), a biopharmaceutical company focused on developing products primarily in the area of small molecules and ribonucleic acid interference (RNAi), announced that it has submitted a protocol to the FDA reflecting its plans to treat patients in an open-label extension of its ongoing Phase II clinical trial with its orally administered, small molecule product candidate arimoclomol for the treatment for amyotrophic lateral sclerosis (ALS or Lou Gehrig's disease). The current 80-patient, 10-center, double-blind Phase II study, which is designed to provide additional safety and tolerability data in combination with the current Phase II trial. Currently, there are no effective therapeutic treatments available for those suffering from this devastating neurodegenerative disease that carries an average life expectancy of 18 months following diagnosis. CytRx expects to report final data from its ongoing Phase II trial with arimoclomol for ALS in the third quarter of this year, followed by initiation of a pivotal Phase IIb clinical trial, subject to FDA review and acceptance. The stock ended the week at $1.19, down 1 penny.
Forbes Medi-Tech Inc. (NASDAQ: FMTI), a developer of innovative products for the prevention and treatment of cardiovascular disease, announced last week the extension of a major sterol supply agreement for a minimum of $4.8 million between Forbes' manufacturing joint venture, Phyto-Source LP, and a large multinational company. The contract was originally signed in September 2002, renewed in June 2004 and under the latest extension is effective until the end of 2006. For competitive reasons, the identity of the customer and contractual terms and conditions were not disclosed. Manufacturing of the phytosterols will be conducted by the Phyto-Source joint venture manufacturing facility in Pasadena, Texas, a 50-50 joint venture between Forbes and Chusei (USA) Inc. Although the company has not disclosed financial terms, given the steady growth at the unit and limited capacity relative to demand, we expect that the contract was on at least as favorable terms as the previous one. The company will provide more details when it reports first quarter results. Shares ended the week at $1.76, down 4 cents.
Digital Angel Corporation, a majority-owned subsidiary of Applied Digital (NASDAQ: ADSX), a leading provider of identification and security technology, proposed a comprehensive national electronic RFID (radiofrequency identification)solution to satisfy renewed interest in a program that will quickly identify and track animals of interest in a health incident such as an outbreak of Mad Cow Disease. The system includes electronic RFID tags and scanners which work in conjunction with various databases to register the livestock information to quickly isolate any problem discovered in an animal from birth through slaughter and distribution. In both 2005 and 2006, the United States Congress (through annual appropriations bills) acknowledged RFID technology and specifically Digital Angel's RFID technology as a viable and logical solution to the country's health concerns related to Mad Cow and other infectious diseases. With growing international pressure stemming from Japan's overly cautious renewed ban on U.S. beef and last week’s Mad Cow confirmation from Canada, it is clear that a technology solution to global animal health concerns is more necessary and relevant than ever. Shares ended the week at $2.77, up 1 cent.
Volume Alert: Shares of Generex Biotechnology Corporation (NASDAQ: GNBT), a leader in the area of buccal drug delivery, traded over 8 times average daily volume and flirted with its 52-week high of $1.51, after regulators set a date to discuss potential human studies of its experimental bird flu vaccine. The FDA said it will meet with Generex on February 10th to discuss what it will need to apply for approval and to begin human studies. The bird flu strain targeted by Generex's Antigen Express vaccine has killed at least 80 people and decimated bird populations throughout Asia. Scientists have warned that it could mutate, becoming easily transmittable between humans. Generex’s vaccine can be manufactured synthetically, making it less expensive and quicker to produce. Generex also announced the interim results of an ongoing clinical trial designed to assess the safety and immunological potency of a novel peptide vaccine in patients with breast cancer. The therapeutic vaccine is being developed by its wholly-owned subsidiary, Antigen Express where the compound, AE37, is a second-generation peptide vaccine designed to stimulate a potent and specific immune response against tumors expressing the HER-2/neu oncogene. A significant percentage of breast cancers as well as cancers of the lung, colon, stomach and pancreas express this oncogene. The trials will include up to 15 patients with stage II breast cancer. In short, AE37 appears to be safe, well-tolerated and exhibits a dose-dependent immunologic response. Once this initial trial is completed, a pivotal trial looking at efficacy with a larger number of breast cancer patients will be planned. Finally, Generex received $6 million from four of its investors from the exercise of warrants issued in the second half of last year, bringing the total that the company has raised over the past several months to approximately $22 million. The stock ended the week at $1.09, up 9 cents.
Volume Alert: Shares of the Wireless Xcessories Group, Inc. (AMEX: XWG), a nationwide manufacturer and distributor of electronic and cellular accessories, surged 32.7% last week on more than three times average volume, after the company announced that it had entered into an inventory and logistics management agreement with ANYCOM Technologies GMBH, a leading German manufacturer of Bluetooth wireless phone and computer accessories. Under the agreement, the company will manage the inventory, shipping, and invoicing of ANYCOM's existing United States customer base, including Amazon.com Inc., Buy.com, Ingram Micro Inc., CDW, NewEgg, and E-Cost, among others. ANYCOM estimates that Wireless Xcessories will ship on its behalf in 2006 a minimum of $2.5 million of accessories, including Bluetooth headsets, keyboards, computer mice, USB adaptors, GPS receivers, and car kits. The stock rose $1.64 to close the week at $6.65.
PacificNet (NASDAQ: PACT), a leading provider of value-added telecom services in China, announced that its Outsourcing Contact Center has been ranked the second best contact center by Greater China CRM, a leading independent CRM and Contact Center evaluation organization based in Shanghai and Hong Kong. The survey was conducted during the second half of 2005, in which 517 sets of valid questionnaires were recorded via online and on-site, with the evaluation methodology being based on analyzing the following ratings: Product & Service rating, Brand Image, Product Capacity, Service Quality, and Most Preferable Choice. The stock rose 13.9% for the week to close at $8.30, up $1.01 on strong volume. The stock reached its highest level on Friday since mid-August.
Junior energy company CanArgo Energy Corporation (AMEX: CNR) said last week that it had entered into an agreement in principle on a $13 million private placement of subordinated convertible guaranteed loan notes with a small group of accredited investors. The notes will be convertible in whole or in part into CanArgo common stock at a price of $1.37 per share, subject to certain anti-dilution adjustments, and will mature on September 01, 2009.This transaction is subject to various approvals. The proceeds are to be used to fund the development of the Kyzyloi Gas Field in the Republic of Kazakhstan and on the commitment exploration programs in Kazakhstan through Tethys Petroleum Investments Limited, the wholly owned subsidiary of CanArgo which holds CanArgo's Kazakhstan assets. Shares ended the week at $1.38, up 1 cent.
Junior energy company Aspen Exploration Corporation (OTCBB: ASPN), announced the commencement of the 2006 drilling season with a gas discovery in the Sacramento Valley gas province of northern California. The Merrill #31-2 well located in the Malton Black Butte Field, Tehama County, California, was drilled to a depth of 2,450 feet and encountered approximately 40 feet of potential gas pay in the Lower Kione formation. Production casing was run based on favorable mud log and electric log responses. This well also encountered approximately 100 gross feet of partially depleted gas sand in the Upper Kione formation, which yielded valuable data regarding the possibility of drilling a future underbalanced horizontal well in this zone. The Upper Kione is a prolific gas producing zone in this area. Aspen has a 31% operated working interest in this well. The WGU #15-10 well located in the West Grimes Gas Field, Colusa County, California, was directionally drilled to a depth of 8,520 feet (7,975 feet TVD) and encountered potential gas pay in the Forbes formation. The Forbes interval was perforated and commenced gas sales a flow rate of 140 MCFPD. Aspen has a 21% operated working interest in this well. The stock ended the week at $5.82, up 10 cents.
China Digital Media Corporation (OTCBB: CDGT), a rapidly developing digital media company in China, highlighted the accomplishments of its wholly-owned subsidiary Arcotect Technology (GZ) Ltd. - Nanhai Branch, the sole digitalization migration contractor and operator of digital television services in Nanhai. Such achievements included the migration of approximately 150,000 subscribers into digital in the city of Nanhai, the deployment of an operating support system to automate all processes, the building of a sales team of more than 120 experienced people and the production of 47 in-house TV commercials to promote the company's value-added packages which have been broadcast on-air for over 87,000 times. Arcotect Nanhai also announced that it expects to double the existing number of digital TV subscribers by the end of 2006. Shares ended the week at $1.44, down 6 cents.
Brookmount Explorations Inc. (OTCBB: BMXI), a developer of resource properties throughout North & South America, announced that is in the final stages of preparations to commence a drilling program on its Mercedes 100 project. The drilling program is intended to explore the significant potential of open pit mining on the Mercedes 100 property as well as to do a Reserve Audit to place more ore reserves into the proven category. Previous reserve estimates have placed the potential reserves anywhere from 480,000 tons to 1,950,000 tons of ore with one ounce of gold equivalent per ton. Brookmount's key property, the Mercedes 100 Project in central Peru, is situated on the geological trend hosting the prolific Arequipa Gold Deposit. Shares closed at $0.80, down 3 cents.
Volume Alert: Shares of biotechnology company Tapestry Pharmaceuticals, Inc. (NASDAQ: TPPH) rose 52% on Friday on more than four times average volume. The company recently said that it had initiated the treatment of patients in a second Phase I clinical trial for TPI 287, a proprietary third generation taxane. Shares rose 7 cents last week to close at $0.35.
Environmental business development company GreenShift Corporation (OTCBB: GSHF), reported that 100% of the stock of GreenShift Industrial Design Corporation and Tornado Trash Corporation was acquired by Veridium Corporation, a portfolio company of GreenShift Corporation. According to the acquisition agreement, GreenShift will receive Veridium equity equal to about 10% of the total outstanding shares in Veridium in return for the sale of these two corporations. With the completion of these two acquisitions, Veridium currently holds the rights to more than a dozen proprietary universal processing, water purification, emissions control and waste recycling technologies where it expects to leverage its portfolio to generate revenue starting in 2006 to third party clients. Additionally, Veridium Corporation and Mean Green BioFuels Corporation, another portfolio company of GreenShift Corporation, announced plans of a joint venture on the conversion of fats from livestock and poultry facility wastes into biodiesel fuel. Veridium's technology enables livestock and poultry processing facilities to dramatically reduce the volume of sludge they are shipping and disposing, translating into reduced costs and increased profitability for livestock and poultry processing facilities. Poultry processing facilities alone will generate in excess of 50 million gallons or 10,000 tanker loads per year of this fat when utilizing Veridium's process, and this fat can be cost-effectively converted into biodiesel fuel. Veridium showcased many of its technologies at the 2006 International Poultry Expo that took place last week in Atlanta, Georgia. Shares remained unchanged for the week, to close at $0.08.
52-week high: Shares of junior oil and gas producer, Patch International Inc. (OTCBB: PTII), surged through their 50-day moving average on strong volume and reached a new high of $1.95 after announcing that it had entered into negotiations for the formation of a consortium to exploit certain key opportunities in the Alberta oil sands. Alberta's oil sands contain one third of the known reserves in the world with the largest and most accessible reserve being the Athabasca oil sands at 40,000 acres, that are estimated to have vast reserves of 175 billion barrels of oil. Patch International presents an exciting opportunity for investors as its strong cash position and experienced management team position the company for growth. With such strong global political uncertainty, the oil sands are increasingly on the U.S. radar screen as they focus on reducing their reliance on oil producing countries outside of North America. Additionally, Patch International announced that it has entered into a formal agreement with a private Alberta company to develop two high impact prospects that give PTII potential production forecasts of 1000 BOE/day within 12 months and 2000 BOE/day within 24 months. The projects are in the Halkirk and Peace River arch regions of Alberta, Canada where PTII has secured a 100% working interest and a 50% after payout on the Halkirk project and a 90% working interest with a 54% after payout on the Peace River project. These acquisitions will be funded from the corporate treasury without any further dilution of the company’s shares. The Peace River arch project is comprised of 5 separate sections totaling 3200 acres in north central Alberta and is known for producing a high rate of delivery and high reserves. Shares rose 60 cents, to close the week at $1.65, up 57.1%.
Junior oil and gas company Apollo Resources International, Inc. (OTCBB: AOOR) announced that its partner Deep Rock Oil & Gas for its Eppler No. 5 project, reported that the initial natural gas flow rate tests through the drill pipe on the Eppler No. 5 in Washington County, Oklahoma exceeded 900,000 cubic feet per day. The Eppler No. 5 represents the second of a four-well drilling project in Washington County, Oklahoma intended to both enhance the profitability and increase the proven reserves. Also, the company announced that its wholly owned subsidiary, Mountain States Petroleum Corporation, has begun producing natural gas from a well in southeastern Utah which had been shut-in for approximately two years. The well has produced an average of 1,050 MCFPD (thousand cubic feet per day) of raw gas per day since being upgraded during the month of January, yielding an average of 525 MCF per day of saleable natural gas into the pipeline. Lastly, Apollo reported that it was exercising its contractual right to rescind the March 2005 stock sale transaction with shareholders of JSC Kaliningradneft. The company's decision comes after protracted efforts to resolve serious issues that were discovered post-closing, as well as efforts to resolve the failure of JSC K to provide certain critical financial data that was represented in the March agreement. Shares fell 3 cents last week to close at $0.42.
Sweet Success Enterprises, Inc. (OTC: SWTS), which has relaunched a product line made popular by Nestle’s to tap into the rapidly growing demand for convenient and nutritious beverages, announced that it has completed the first significant shipment of its all natural beverage products into the South Florida region and has formed a relationship with a vendor which will enable it to sell its products in fifteen Midwestern and southern states. The initial focus in South Florida will be on the healthy shakes and the company's first of nine new functional beverages led by Power Blend, a stamina and endurance beverage that will have placement in the standard retail stores plus a special focus on night life locations. Southern Wine and Spirits, the largest distributor of their type in the U.S., has been selected to initially distribute the product in Florida where it has already ordered one mixed container of product (2,100 cases) for initial product placement. Rollout for products in Midwestern U.S. states will include initial distribution to about 400 stores and subsequent distribution in up to 2,000. The stock ended the week at $1.18, up 9 cents.
Volume Alert: Shares of Black Dragon Resource Companies, Inc. (OTC: BDGR) rose more than 17% on Friday on three times average volume. The company earlier in the week issued a letter to shareholders, where it cited short selling as one reason that its shares had not advanced further. The company is profitable and has been increasing production. The stock ended the week at $0.48, up 18 cents.
On The Wires: Applied Digital (NASDAQ: ADSX), a leading provider of identification and security technology, announced that its majority-owned subsidiary InfoTech USA, Inc. hired Jonathan F. McKeage, who has 18 years of experience on Wall Street, as its new President and Chief Executive Officer, where he will also serve on the Board of Directors. Rentech Inc. (AMEX: RTK), a developer of alternative energy sources, named its chief financial officer, Geoffrey S. Flagg, to the post of chief accounting officer, and hired energy industry executive Kevin M. Smith as its new CFO. Douglas M. Miller, a former Unocal executive, was also named to the post of executive vice president and chief operating officer. Advance Nanotech, Inc., (OTCBB: AVNA), a leading provider of financing and support services to drive the commercialization of nanotechnology discoveries, announced the appointment of Lowell I. Dashefsky as General Counsel, where he brings eight years of broad technological legal expertise to the company. Homeland security company Electronic Sensor Technology (OTCBB: ESNR) said that its Chief Executive Officer Matthew S. Collier had resigned. Teong Lim, a founder and former CEO of the company will serve as acting CEO until a permanent replacement is found. Neutron Enterprises, Inc. (OTCBB: NTRN), a developer of digital media solutions, announced the appointment of Ciaran Griffin as its new Chief Financial Officer whose experience includes ten years overseas on assignment with a multi-billion dollar international investment fund where he was responsible for all aspects of financial and management reporting and fund performance analytics. Holding company Patient Safety Technologies Inc. (AMEX: PST) that owns assets in various businesses, including healthcare, real estate and merchant banking, announced that Rick Bertran has been promoted to President of its wholly-owned subsidiary, SurgiCount Medical, Inc. where he brings over 15 years of surgical product and technology sales and marketing experience to SurgiCount. Itronics, Inc. (OTCBB: ITRO), a "Creative Environmental Technology" company and a world technology leader in photochemical recycling, will be presenting at the SCIA -- Southern California Investment Association's National Investment Conference in Irvine, CA on Saturday February 4th. Power Efficiency Corporation (OTCBB: PEFF), a developer and manufacturer of advanced energy savings technologies for electric motors, announced that Michael Varney has been named to the position of vice president of sales and marketing. Mr. Varney previously was the vice president of marketing at the Las Vegas Chamber of Commerce for almost nine years. The company also announced that it will hold its 2005 Annual Meeting of the Stockholders at 10:00 a.m. PST on February 16, 2006, in Las Vegas, Nevada.
A profile, description, or other mention of a company in the newsletter is neither an offer nor solicitation to buy or sell any securities mentioned. While we believe all sources of information to be factual and reliable, in no way do we represent or guarantee the accuracy thereof, nor the statements made herein. THE READER SHOULD VERIFY ALL CLAIMS AND DO ITS OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. This publication accepts compensation from companies that it features. This newsletter should not be regarded as an independent publication. Our editors may, from time to time, acquire positions in the companies that they cover. This could represent a conflict of interest. The CEOcast newsletter shall be under no obligation to inform readers about its trading activities. CEOcast's editors reserve the right to buy or sell shares in these companies at any time. The following companies, featured in this newsletter, have compensated CEOcast: Applied Digital, twelve thousand five hundred dollars per month, Advance Nanotech, ten thousand dollars per month and thirty thousand shares of stock for a one-year agreement, Brookmount Exploration, ten thousand dollars per month and two hundred twenty five thousand shares of stock for a six-month program, CytRx, fifteen thousand dollars per month for a six-month program, Generex Biotechnology, five thousand dollars per month and two hundred twenty five thousand shares of stock for a one-year program; CEOcast received five hundred twenty thousand shares from previous agreements, GreenShift Corporation, seven thousand five hundred dollars per month and eight hundred thousand shares of stock for a one-year program; CEOcast received five hundred thousand shares from previous agreement; Sweet Success, five thousand dollars per month and three hundred thousand shares of stock, Aspen Exploration, five thousand dollars per month and fourteen thousand shares of stock for a six-month program; CEOcast received twenty-eight thousand shares from a previous agreement, Rentech, seventeen thousand five hundred dollars per month for a six-month program, Pacificnet, five thousand dollars per month and twenty-six thousand shares for a one-year program; CEOcast received one hundred thousand dollars for performing additional services and fifty thousand shares under a previous agreement, Apollo Resources International, six thousand dollars per month and three hundred fifty thousand shares of stock for a six-month agreement, Patient Safety Technologies, seven thousand five hundred dollars per month and thirty thousand shares of stock for a one-year program, China Digital Media, seven thousand five hundred dollars per month and nine thousand shares of stock for a one-year program; Isonics Corporation, seventeen thousand five hundred dollars per month. Hythiam, ten thousand dollars per month and twenty-five thousand shares of stock for a one-year program; CEOcast received seventeen thousand shares from a previous agreement; an editor/relatives of CEOcast employees have also purchased six hundred eighty shares of stock, Itronics, six thousand dollars per month and two million warrants with an exercise price of sixteen cents, Power Efficiency Corporation, seven thousand five hundred dollars per month and three hundred thousand shares of stock for a six-month program, Wireless Xcessories, five thousand dollars per month and sixteen thousand shares of stock for a six-month agreement; Forbes Medi-Tech, ten thousand dollars per month, CanArgo Energy, twelve thousand five hundred dollars per month; CEOcast owns two hundred forty thousand shares of stock from previous agreements; Black Dragon Resources, two hundred fifty thousand shares of stock from Joe Lanza, a third-party shareholder; Tapestry Pharmaceuticals, eight thousand seven hundred fifty dollars per month plus an equivalent monthly amount of stock for a six month program, Electronic Sensor Technology, seven thousand five hundred dollars per month and one hundred thousand shares of stock for a three-month program; CEOcast received one hundred twenty thousand shares under previous agreements and an editor of CEOcast has purchased two hundred fifty thousand shares of stock for one dollar per share and has received warrants to purchase two hundred fifty thousand shares of stock at one dollar per share.
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