LTX-Credence (LTXC) Posts Q4, FY2011 Results; Revenues Shy of Previous Guidance

LTX-Credence Corp., a global provider of ATE solutions, today announced financial results for its fourth quarter and fiscal year ended July 31, 2011.

The company reported fourth quarter 2011 sales of $62.6 million, a decrease compared to sales of $73.1 million for the fourth quarter of 2010, but up from previous quarter sales of $58.6 million. Net income for the 2011 quarter was $12.0 million, or $0.24 per diluted share, a decrease from $14.1 million, or $0.09 per diluted share, reported for the fourth quarter of last year. On a non-GAAP basis, net income for the 2011 quarter was $13.8 million, or $0.27 per diluted share.

For the 12 months ended July 31, 2011, LTX reported sales of $249.5 million, up 14 percent compared to sales of $219.0 million reported for full-year 2010. Net income was $60.0 million, or $1.19 per diluted share, compared to net income of $18.5 million, or $0.13 per share, reported for the comparable 12 months of 2010. On a non-GAAP basis, net income for the year was $56.3 million, or $1.12 per diluted share.

Dave Tacelli, CEO and president of LTX, acknowledged that sales weren’t as high as hoped, but attributed the revenue quarter-over-quarter revenue increase to strong growth in the company’s application specific and power management segments.

“Although revenues were slightly below the low-range of our guidance, net income came in at the mid-point of the guidance,” Tacelli stated in the press release. “Our balance sheet was further strengthened from better than expected cash generation from operations, resulting in an increase in net cash of approximately $16 million during the quarter, and ending the year with no debt and $163 million in cash, cash equivalents, and marketable securities.

For the upcoming fiscal quarter ended Oct. 31, 2011, the company expects revenues between $35 million and $39 million; non-GAAP net loss is expected to be in the range of $(0.10) to $(0.06) per share.

For more information visit www.ltxc.com

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Hanwha SolarOne Co., Ltd. (HSOL) is “One to Watch”

Hanwha SolarOne Co., Ltd. is a leading provider of global energy solutions designed to meet the demands of the 21st century energy customer. From quality crystalline silicon and solar module assembly to project development and financing, Hanwha SolarOne offers a fully integrated solution. Through control of the supply chain, the company is able to deliver the highest quality products at very competitive prices.

The company’s technology department works closely with the manufacturing department to lower production costs by improving production efficiency. In July 2007, Hanwha SolarOne established the Hanwha SolarOne PV Engineering Center. This center, equipped with a fully dedicated pilot production line and various characterization tools, focuses on improving the solar cell efficiency and extending its application.

Hanwha SolarOne takes its role as a leader seriously, both in business and in the community. Long-term commitment is the key focus of the company, which supports its modules with a 25-year warranty and prompt post-sale service. Furthermore, all modules are certified by TÜV, CE, UL, and CEC, validating quality and safety. The company is also committed to industry sustainability and is a member of the PV Cycle end-of-life product recycling program.

As of June 30, 2011, the Company had cash and cash equivalents of RMB1,485.7 million (US$229.9 million) and net working capital of RMB1,850.0 million (US$286.2 million), compared with total long-term debt of RMB995.9 million (US$154.1 million), which was comprised of both the non-current portion of long-term bank borrowings and convertible bonds. Leveraging its strong financial position and leading technology, Hanwha SolarOne is well positioned to capitalize on the rapidly growing renewable energy market.


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VistaGen Therapeutics, Inc. (VSTA) Stem Cell Technology to Test New Drugs for Toxicity Before Humans Trials

VistaGen Therapeutics, Inc., a biotechnology company focused on stem cell-based drug rescue and drug development, recently completed a $3.87 million financing (including cancellation of $1.0 million of debt) to accredited investors, including a $1.5 million investment by Platinum Long Term Growth Fund. The Company is focused on rescuing the investments made by pharmaceutical companies in promising drug candidates that have been “put on the shelf” due to heart toxicity concerns. By combining its stem cell technology platform, Human Clinical Trials in a Test Tube(TM), with modern medicinal chemistry and three-dimensional (3D) “micro-organ” culture systems, the Company plans to create new, safer, proprietary drug rescue variants of once promising original drug candidates.

VistaGen uses its human pluripotent stem cell technology to generate early indications, or predictions, of how humans will ultimately respond to new drug candidates long before they are ever tested in humans. The Company anticipates that CardioSafe 3D(TM), the first bioassay system derived from its Human Clinical Trials in a Test Tube(TM) platform, will allow it to assess the heart toxicity profile of new drug candidates with greater speed and precision than nonclinical in vitro techniques and other technologies currently used in the drug development process. VistaGen plans to expand its drug rescue capabilities by introducing its second bioassay system, LiverSafe 3D(TM), a human liver cell based toxicity and metabolism bioassay system, next year. The Company’s core goal is to develop a diverse pipeline of new small molecule drug candidates that will be as effective as the original drug candidates discontinued due to safety concerns but without the toxicity that caused them to be put on the shelf.

“Both in our labs in South San Francisco and through our collaboration with Dr. Gordon Keller in Toronto, we have assembled a dedicated and experienced team that is passionate about the transformative potential of our stem cell technology. Our goal is simple: use stem cell technology to make better medicine,” said Shawn K. Singh, Chief Executive Officer, VistaGen in a prior press release.

VistaGen’s technologies were developed over the last 20 years by a prominent Canadian scientist, Dr. Gordon Keller (recently named a “Top 25 Transformational Canadian” for his pioneering stem cell research), and by Dr. Ralph Snodgrass, VistaGen’s founder, President and Chief Scientific Officer. Using mature heart cells produced from pluripotent stem cells, the Company believes its CardioSafe 3D(TM) is capable of predicting the in vivo cardiac effects, both toxic and non-toxic, of small molecule drug candidates before they are tested in humans.

In parallel with its drug rescue activities, VistaGen also plans to advance numerous pilot preclinical cell therapy programs, including programs focused on autologous bone marrow transplantation, as well as heart, liver and cartilage repair. Each of the programs is based on the proprietary stem cell differentiation and human cell production capabilities of its Human Clinical Trials in a Test Tube(TM) platform.

Additional information about VistaGen can be found at www.vistagen.com

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Titan Pharmaceuticals, Inc. (TTNP) Confirms Pre-NDA Meeting with FDA for Probuphine™

Today, Titan Pharmaceuticals, Inc. announced that the U.S. Food and Drug Administration (FDA) has confirmed a Pre-New Drug Application (Pre-NDA) meeting with the company regarding Probuphine™ to be held on October 25th, 2011. Probuphine is an innovative, subcutaneous implant formulation that delivers a steady, round-the-clock dose of buprenorphine over six months following a single treatment. Titan is developing this formulation for the treatment of opioid dependence.

At the Pre-NDA meeting, Titan will review all elements of the Probuphine development program and seek FDA input and guidance on the proposed content of a New Drug Application (NDA). In preparation for the meeting, Titan is required to submit to the FDA a comprehensive briefing document by mid-September that includes data from all the non-clinical and clinical studies and the chemistry, manufacturing and control processes and procedures for the manufacturing of this formulation.

The FDA has agreed to review the Probuphine NDA submission under its 505(b)(2) regulations and can reference data that are in the public domain as well as rely on the FDA’s prior review of safety or efficacy for the reference listed drug. Guidance provided by the FDA in 2005 as part of the Investigational New Drug (IND) application discussions included a requirement that efficacy of treatment with Probuphine be demonstrated in two adequately controlled studies, and that the safety database include the treatment of approximately 500 patients with Probuphine for six months and approximately 100 patients for one year.

Katherine L. Beebe, Ph.D., Executive Vice President and Chief Development Officer of Titan, remarked, “This is an important meeting with the FDA to review all of the information on Probuphine development, especially the robust Phase 3 clinical results of Probuphine in the treatment of opioid addiction. We also expect to discuss and reach agreement with the FDA on the content and data required for the NDA. We believe the strong positive results from the two controlled studies of Probuphine and the follow-on re-treatment studies demonstrate the potential effectiveness of the treatment for opioid addiction and the safety and tolerability of this product. We look forward to our meeting with the FDA and obtaining their guidance on the sufficiency of these data so that we can appropriately plan the timing of our NDA submission.”

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DG FastChannel, Inc. (DGIT) in Agreement to Acquire Unit of Limelight Networks

DG FastChannel, Inc. is a leading provider of digital media solutions and technology to the advertising, entertainment and broadcast industries. Through its television unit, the company serves more than 5,000 advertisers; though its internet unit, DG serves more than 9,000 brand owners.

The company today announced a definitive agreement to acquire Limelight Network’s EyeWonder video and rich media advertising unit for approximately $66 million in cash. The deal enhances DG’s position as a leading provider of interactive digital advertising products and services. The transaction is also expected to be accretive to the company’s 2012 GAAP earnings per share.

EyeWonder is leading provider of interactive digital advertising products and services. These include online video and rich media solutions, serving Fortune 1000 companies and premium marketers around the globe. In addition to helping clients create, track and optimize campaigns, EyeWonder is recognized globally for its technological expertise around targeting.

The chairman and CEO of DG, Scott Ginsburg, was upbeat about the acquisition. He said, “This deal is another step forward in expanding DG’s presence in the fast-growing internet advertising vertical. By joining EyeWonder with Unicast and MediaMind, we are strategically establishing an online media powerhouse.”

For additional information about DG, please visit the company’s website at www.DGit.com

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China Net Online (CNET) Details Blueprint for Global Market Expansion

ChinaNet Online Holdings Inc., a leading B2B integrated Internet service provider for small to medium-sized enterprises (SMEs) in the People’s Republic of China, today laid out the plans for its expansion to attract Taiwan-based global franchises. The company also announced its annual participation in the 2011 Taipei International Chain and Franchise Autumn Exhibition held last weekend at the World Trade Exhibition Centre in Taipei, Taiwan.

As ChinaNet strategizes and executes an effective means of international expansion and marketing, the company said it has been accepted as a member of the International Franchise Association (IFA), the world’s oldest and largest organization representing franchising.

It’s an achievement that company chairman and CEO Handong Cheng says will enhance the company’s position in the global marketplace, and open doors for additional opportunities and recognition.

“In 2010, ChinaNet was the first in our industry to establish a presence in Taiwan. We are pleased that efforts to build upon our new relationships have begun to bear fruit and contribute to our revenues as we continue to promote the expansion of Taiwanese franchise enterprises in China. Our growing international presence will be additionally strengthened with our membership in the IFA, which we believe will offer new opportunities for growth,” Cheng stated in the press release.

The company recently participated in the 2011 Taipei International Chain and Franchise Autumn Exhibition, which is the largest business exhibition in Asia, featuring more than 200 hundred brands and attracting 48,000 visitors this year.

ChinaNet’s presence at the Exhibition fueled its efforts to attract foreign franchises to China through the company’s franchise gateway and marketing platforms, 28.com and Liansuo.com.

For more information visit www.chinanet-online.com

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Scorpex, Inc. (SRPX) Achieves 2011 Business Objectives Far Ahead of Schedule

Today before the opening bell, Scorpex, Inc., an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region, provided current and prospective investors with an update regarding the previously announced initiatives for the current calendar year.

To date, the Company has:

1. Signed a $30 million equipment contract with International Environmental Technologies, Inc. (“IET”) for the acquisition and installation of waste gasification/thermal oxidation equipment as well as a license to use the technology.

2. Secured financial commitments for up to $35 million of non-dilutive financing; contingent on the issuance of necessary permits. The Company continues to evaluate its options as additional low-cost financing offers are anticipated.

3. Received its Use of Soil Permit from the Mexican federal government following the submission of numerous studies and compliance with every request. The permit is necessary for the issuance of certain state and local operational permits, which are anticipated to be granted to the Company in the very near future.

4. Engaged an accounting group to prepare its financials for a formal audit. Following completion, Scorpex intends to file financial reports with the U.S. Securities and Exchange Commission (“SEC”) and take the next step of listing on a senior securities exchange after meeting other criteria of the exchange.

5. Appointed an interim Chief Financial Officer to the management team and made two additions to its Board of Directors. The individuals have accumulated extensive experience and success in both the public and private sectors. Additional candidates are being evaluated to further enhance leadership of the Company.

6. Secured the investor relations services of MissionIR to communicate Scorpex’s business strategy to the investor community as well as keep investors informed of ongoing progress.

Chief Executive Officer Joseph Caywood stated, “Our progress over the last ninety days has been nothing short of remarkable. Even though we are only in the third quarter, our Company has accomplished nearly all business objectives that were set for completion this year. This is a testament not only to the competence of our team, but also the exhaustive groundwork that has been laid over the years. Our excitement continues to build as we make great strides forward in the execution of our business strategy.”

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Pluristem Therapeutics, Inc.’s (PSTI) PLX Cells Receive Orphan Drug Status

Friday, Pluristem Therapeutics, Inc. announced that their PLX cells had been designated with orphan status by the FDA for the treatment of thromboangiitis obliterans, or Buerger’s disease. The designation took place several days earlier, on August 22.

Pluristem is a developer of standardized cell therapy products for the treatment of life threatening diseases. Their PLX platform is used as a drug delivery system that releases proteins that take effect on inflammatory diseases in patients. Cells used in the process are grown in a 3D micro-environment that requires no tissue matching. Testing has shown that PLX cells may be effective against nerve pain, muscle damage, inflammatory bowel disease, muscular dystrophy and stroke.

Buerger’s Disease is a rare condition that affects the blood vessels of a patient’s extremities. The resultant clotting and inflammation causes a reduced blood flow to the affected area, and can lead to pain, ulcers and necrosis, requiring amputation. The disease currently affects nearly 50,000 patients through the U.S. and Europe, with no treatment available. It is estimated that the market for a drug that can combat Buerger’s could be worth $2.5 billion.

Pluristem is also pursuing an application in Europe at the EMA’s Committee for Orphan Medicinal Products.

Zami Aberman, Chairman, President and CEO of Pluristem said, “We are extremely pleased that our PLX cells have been designated orphan status by the FDA and look forward to receiving a similar designation in Europe. In anticipation of this designation, we have been working diligently in readying
clinical sites, primarily in India, where there is a high prevalence of Buerger’s. In addition, the inclusion of Buerger’s completes our plan to make our PLX cells available for the entire spectrum of peripheral vascular disorders and allows us to benefit from the market exclusivity and other regulatory and
financial advantages that accompany this designation.”

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AuRico Gold Inc. (AUQ) Moves to Acquire Northgate Minerals, Resulting Company a Serious Contender in the Intermediate Range

AuRico Gold, the Canadian gold and silver developer with three rich, wholly-owned operating properties in Mexico, in conjunction with Northgate Minerals Corp., have announced entry into a definitive acquisition agreement whereby a new, leading intermediate gold production company will emerge.

President and CEO of AUQ, Rene Marion, described the resulting fusion of AuRico and Northgate as constituting a formidable force in the sector and will immediately position the “combined company as a pre-eminent intermediate gold producer with peer leading growth.” Marion was quite happy to point out the striking similarities between the two companies in terms of assets, projects and people, asserting that the logistical match-up would go swimmingly.

President and CEO of Northgate, Richard Hall, concurred wholeheartedly with his colleague at AUQ, highlighting the quality of the deal as a huge opportunity, both for Northgate shareholders and the market. Hall underscored the hard work Northgate personnel have put in, developing a strong portfolio of mineral properties in Canada and Australia, outlining the obvious production synergies this deal will create.

Highlights of the resulting business structure:

• Five operational gold mines with a sixth coming online in 2012
• Three promising gold development projects in Mexico, Canada and Australia, noted as being three of the top global hotspots for ideal mining jurisdictions
• Roughly 54% boost in production from 475k gold-equivalent ounces in 2012, to 730k in 2013 (based on combined midpoints of the production guidance from both companies)

Details of the agreement:

• AUQ will acquire all outstanding common shares of Northgate at a ratio of 0.365:1, a 45% premium to Northgate’s shareholders. (Based on the Aug. 26, 2011, TSX 20-day volume weighted average prices of both companies)
• Unanimous approval from the Board of each company will be executed via court approved plan of arrangement, with UBS Securities Canada Inc. and GMP Securities L.P. providing oversight
• The agreement would supersede a previous arrangement between Northgate and Primero Mining Corp. (announced on July 13, 2011), because according to Northagate the AUQ agreement is a “superior proposal” (decision reached by Northgate on Aug. 28, 2011). Northgate has subsequently paid the $25M termination fee and terminated the Primero agreement.
• The Sept. 21, 2011 Northgate Shareholders Meeting has been postponed until Oct. 2011, in order to allow for transaction approval via a required sixty six and two-thirds percent vote. A similar meeting will be held by AUQ on the same date in order to obtain a majority shareholder approval.


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UQM Technologies (UQM) partners with ReGen Nautic to delve into Marine Hybrid Electric Market

UQM Technologies Inc., developer and manufacturer of products for the alternative-energy technologies sector, today announced its strategy to enter into the marine hybrid electric market through a partnership with ReGen Nautic USA Inc., in which the companies will develop ultiple hybrid electric marine propulsion systems.

ReGen Nautic is a private company in cahoots with several marine original equipment manufacturers to provide these propulsion systems as energy-saving powertrain options applicable to yachts, trawlers and larger sailing boats.

“Our collaboration with ReGen Nautic showcases the additional growth opportunities when electric propulsion technology is introduced into industries beyond the automotive sector,” Eric Ridenour, UQM Technologies president and CEO stated in the press release. “We believe that combining the application knowledge of ReGen Nautic and the electric motor and controller expertise of our company, we can create systems that greatly improve efficiency, increase performance and offer additional benefits that apply to marine applications.”

UQM Technologies and ReGen Nautic will work collaboratively to integrate UQM PowerPhase® hybrid electric systems into various marine applications, allowing for increased capacity to captures and store energy while reducing the overall weight of the vessel. The design is also expected to increase cruising speeds, reduce maintenance costs, and offer silent operation mode, ultimately delivering better overall vessel performance.

“We are working with UQM to develop several hybrid electric systems for the marine industry that will provide dramatically better performance than even the newest diesel technology,” said Pierre Caouette, ReGen Nautic president and chief operating officer. “Our systems will provide vastly improved reliability and ease of use for the customer, along with the highest standard of safety.”

For more information visit www.uqm.com or www.regennautic.com

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VistaGen Therapeutics, Inc. (VSTA) is “One to Watch”

VistaGen Therapeutics, Inc. is a biotechnology company applying stem cell technol¬ogy for drug rescue and cell therapy. Drug rescue combines human stem cell technology with modern medicinal chemistry to generate new chemical variants (“drug rescue variants”) of promising drug candidates that have been discontinued during preclinical development (“put on the shelf”) due to heart or liver safety concerns. The Company also focuses on cell therapy, or regenerative medicine, which includes repairing, replacing or restoring damaged tissues or organs.

VistaGen’s versatile stem cell technology platform, Human Clinical Trials in a Test Tube™, has been developed to provide clinically relevant indications, or predictions, of potential toxicity of new drug candidates before they are ever tested on humans. VistaGen’s human pluripotent stem cell-based bioassays more closely approximate human biology than conventional animal studies and nonclinical in vitro techniques and technologies currently used in drug development.

Using mature heart cells produced from stem cells, VistaGen leveraged its Human Clinical Trials in a Test Tube™ platform to develop CardioSafe 3D™, a three-dimensional bioassay system for predicting the in vivo cardiac effects of new drug candidates before they are tested in humans. The Company now plans to leverage CardioSafe 3D™ to build a pipeline of new, safer, variants of promising drug candidates that have been “put on the shelf” by pharmaceutical companies because of toxicity concerns, despite positive efficacy data signaling their potential therapeutic benefits.

The Company’s lead drug candidate, AV-101, is in Phase I development in the U.S. for treatment of neuropathic pain, a serious and chronic condition causing pain after an injury or disease of the peripheral or central nervous system. Neuropathic pain affects approximately 1.8 million people in the U.S. alone. To date, VistaGen has been awarded over $8.5 million from the NIH for preclinical and clinical development of AV-101.

VistaGen is also developing LiverSafe 3D™, a human liver safety and drug metabolism bioassay system, and is preparing to initiate pilot preclinical development of cell therapy programs focused on autologous bone marrow transplantation and heart, liver and cartilage repair. Each of these development programs is based on the proprietary human pluripotent stem cell differentiation and cell production capabilities of the Company’s Human Clinical Trials in a Test Tube™ platform.

Key Investment Highlights

• Stem Cell Technology Addressing Major Challenge in Drug Development
• Drug Rescue Platform Designed to Recapture Prior Investment in Candidates
• Lead Drug Candidate Advancing in NIH-funded Phase I Clinical Trials
• Experienced Management Team with Decades of Relevant Experience
• Proprietary Technology Designed to Save Millions of Healthcare Dollars


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Penson Worldwide, Inc. (PNSN) Sued In Class Action over Alleged Bogus Financial Statements

Stock clearing agent Penson Worldwide, Inc. (Nasdaq: PNSN) was sued over a basket of legal issues, including making false and misleading statements to inflate its stock price. The class action suit was brought by national law firm Levi & Korsinsky.

According to the complaint, filed this week in United States District Court for the Northern District of Texas Dallas Division on behalf of purchasers of PNSN stock, Penson “issued materially false and misleading statements… and concealed from investors” the fact that much of Penson’s claimed receivables were poorly collateralized, or collateralized by illiquid customer assets.

A large part of the referenced receivables apparently concerned revenue and interest the company was due on margin loans to customers, the customers in turn offering as collateral certain securities which the law firm called “illiquid… and therefore unlikely to be collected.”

Specifically, the suit alleges that at a point in 2010, Penson had about $96-97 million in receivables, termed “Nonaccrual Receivables”, of which about $43 million were collateralized by the allegedly illiquid securities and that these were therefore materially overstated and “should have been written down at least by the end of 2010”. The result was a material overstating of income and EBITDA, says Levi & Korsinsky. They further claim that Penson’s financial statements were not prepared according to GAAP rules.

A similar, or perhaps identical, suit was also filed this week against Penson in the same court by the law offices of Howard G. Smith. But, as the story was late-breaking, it has yet to be verified whether it‘s part of the other action.

Additional details of the Levi-Korsinsky filing are shown at the Shareholders Foundation website. According to Shareholders Foundation, Penson disclosed on May 9, 2011, apparently for the first time, that about $42.6 million of its Nonaccrual Receivables were collateralized “by bonds issued by the Retama Development Corporation (RDC) and certain other interests in the horse racing track and real estate project … financed by the RDC’s bonds,” and that certain parties related to the company were holders of about $14.7 million of RDC bonds that were pledged to the Company or its affiliates.

Throughout this period, Penson stock has taken a beating, and that appears to be the bottom line of the suit. The law firms have invited persons who acquired PNSN shares between February 10, 2011 and August 4, 2011 to contact them about their rights no later than the court deadline of October 24, 2011.

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Longwei Petroleum Investment Holding Ltd. (LPH) Updates Fiscal 2011 and 2012 Operations

Longwei Petroleum Investment Holding Ltd. issued an operational update on its current business activities along with new guidance on sales and earnings over the next two years.

Longwei Petroleum Investment Holding now expects sales in fiscal 2011 to be approximately $480 million, down 4% from the previous estimate. Net income is expected to be $65 million in fiscal 2011, adjusted for the company’s warrant derivative liability expense. The fiscal year ends on 6/30/2011.

Longwei Petroleum Investment Holding has made a partial payment of $85.1 million towards the purchase of a fuel storage facility in Shanxi Province, China. The facility has a 100,000 metric ton capacity and is being purchased from Huajie Petroleum Co., Ltd. The assets being purchased also include a railway line, an office building and land use rights.

Longwei Petroleum Investment Holding said that the remaining payment of $108.3 million to complete the purchase will be funded without raising equity. The company expects the deal to close during the second quarter of fiscal 2012.

Longwei Petroleum Investment Holding expects the purchase of the storage depot and other assets to add to sales and earnings in fiscal 2012. The company has established sales guidance for fiscal 2012 at $576 million, and net income of $78 million.

For more information on the company, go to www.longweipetroleum.com

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DryShips, Inc. (DRYS) Grabs Controlling Stake in OceanFreight (OCNF)

In a joint announcement, DryShips, Inc. and OceanFreight Inc. said that DryShips has acquired 3,000,856 shares of OceanFreight Inc., giving DryShips controlling interest in OceanFreight.

DryShips came to this position via a complicated mix of cash and share swaps. The shares were acquired from entities operated by OceanFreight CEO Anthony Kandylidis, pursuant to a July 26 purchase agreement. DryShips paid $11.25 cash for each OceanFreight share, plus 0.52326 shares from its holdings of Ocean Rig UDW Inc., valued at par of $0.01 per share. In total, the deal cost DryShips $33,759,671.08 in cash and 1,570,226 shares of Ocean Rig stock. DryShips’ Ocean Rig holdings accordingly dropped from about 78% to around 77% of the company.

DryShips is expected to vote its OceanFreight shares in favor of the merger of OceanFreight with a subsidiary of DryShips, as part of the July 26 deal. The companies expect the merger to close in Q4 2011.

DryShips operates a large network of drybulk carriers and tankers worldwide. As majority stockholder in Ocean Rig, the company also owns nine offshore ultra deepwater drilling units, which includes two ultra deepwater semisubmersible drilling rigs and seven ultra deepwater drillships, four of which remain to be delivered to Ocean Rig during 2011 and 2013. In addition, Dry Ships maintains a fleet of 36 drybulk carriers, including eight Capesize, twenty-six Panamax and two Supramax carriers, with a combined deadweight tonnage of over 3.4 million tons, along with 12 tankers that consist of six Suezmax and six Aframax, having a combined deadweight tonnage of over 1.6 million tons.

OceanFreight owns drybulk vessels operating worldwide. It maintains a fleet of six such ships, four Capesize and two Panamaxes, and expects presently to acquire five Very Large Ore Carriers (VLOCs) with a combined deadweight tonnage of roughly 1.9 million tons.

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Cricket Communications, Inc. (NASDAQ: LEAP) Prepares to Service Customers during Expected Storm

Cricket Communications, Inc. is a company on the move.  Located in San Diego, California, Cricket has made a name for themselves as a pioneer of simple and affordable unlimited wireless service with no long-term commitments or credit checks and has quickly become a top subsidiary of Leap Wireless International, Inc.  Today, Cricket earned a great deal of respect on Wall Street and beyond with the announcement the company has taken steps to maintain service to customers during Hurricane Irene.

In order to service their customer base, Cricket has sent teams from South Carolina northward to New Jersey to prepare for power outages, flooding and other likely impacts from this storm.

Cricket’s engineering, operational and safety and security teams are actively monitoring Hurricane Irene’s projected path and activating emergency plans.  Generators have been strategically staged outside of areas likely to be affected by the storm to offset the loss of power to cell sites or other company facilities.

Cricket has also encouraged wireless users to ready themselves for the potential loss of power and flooding with an array of tips from the Federal Emergency Management Agency (FEMA) that include: Charging your battery and having a backup, storing useful phone numbers, creating a group of emergency contacts and to utilize sending text messages.

Currently, Leap Wireless International is trading in the $8.36 range.  With this efforts provided from Cricket Communications Inc. and an array of technology within the corporation’s pipeline, Leap Wireless is a company that is starting to capture the attention of institutional investors.

To learn more about this story or the company as a whole, visit their website at:  www.mycricket.com.

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KIT digital Inc., (KITD) Joins Imcube Labs and Celvision Technologies Ltd. To Manage 3D Video Delivery over IP

KIT digital Inc. (KITD), a company that, along with its subsidiaries, provides cloud-based video management solutions for multi-screen delivery worldwide, has announced that it has joined Celvision Technologies Ltd., a Chinese titan in 2D and 3D conversion services, and imcube labs, a worldwide leader in 2D and 3D conversion software technology, to co-develop an end-to-end solution that brings together content services and platform technology to allow any media company, network operator, device manufacturer, or enterprise to produce, manage and deliver 3D video over Internet Protocol (IP) over many screens.

The combined offering will help leverage Celvision’s and imcube’s industry-leading content services expertise and software to allow any content to be converted into 3D. Once the content is converted to 3D,it will be taken into KIT digitals’ video asset management platform, where clients will be able to manage and deliver the 3D video to connected televisions and other screens with 3D capabilities. This solution will also enable customers to access existing 3D content libraries for distribution and licensing purposes.

“By combining Celvision’s high quality and efficient conversion services with imcube’s leading conversion software technology and KIT digital’s cloud-based video asset management platform, we will be able to offer our global customer base a complete packaged solution for premium 3D video content delivery over IP,” said Steve Chung, KIT digital’s managing director for Asia-Pacific. “During this exciting new era of growth for 3Dcontent, our co-developed one-stop shop solution will allow content owners to reach and engage audiences anywhere, anytime.”

Petr Stransky, the head of content services for KIT digital, commented: “With KIT digital’s global customer base owning or having OTT distribution rights for a significant portion of the world’s top premium content, we expect this collaboration to open avenues for more compelling 3D content to be produced globally.”

Leo Ze, managing partner of Celvision, added, “We are still at the early stages of development in this industry and there are technology challenges to overcome; we are confident that our partnership with KIT digital and imcube will yield several industry firsts in this fast growing sector. Celvision works with top content producers and global partners to convert feature films and premium content into 3D, and this extended offering will provide our customers with a more robust and flexible solution to reach a growing number of connected devices.”

Celvision and imcube concurrently announced that they have joined the Asia Video Convergence Alliance (AVCA), a new industry alliance that is chaired with KIT digital and formed to help drive standards-setting and innovation within Asia’s expanding multi-billion dollar next-generation video technology industry. Through AVCA, Celvision and imcube will aid in bringing more focus and resources to 3D production in the Asia-Pacific region.

Get more information on Celvision Technologies Ltd. at their website: www.celvision.com.
Find out more about imcube labs at their company website: www.imcube.com
Get more information on KIT digital, Inc. and their future endeavors at http://www.kitd.com

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BioTime Inc. (BTX) Subsidiary Receives $10 Million in Equity Financing

BioTime Inc. is a biotechnology company that, through various subsidiaries, develops and markets products in the field of regenerative medicine and blood plasma volume expanders.

The company announced today that one of its majority-owned subsidiaries, OncoCyte Corporation, has received a new round of equity financing to fund the expansion of its development of novel proprietary diagnostics and therapeutics for cancer in humans. The financing includes $4 million in cash ($3 million from an outside investor) combined with $6 million worth of BioTime common shares.

OncoCyte’s products for the diagnosis and treatment of cancer are based on embryonic stem cell-derived technology. Its molecular diagnostics division is developing products that may provide for earlier detection and more effective treatment of various cancers. Utilizing its proprietary algorithms, OncoCyte has currently discovered and filed patent applications on over 100 novel cancer-associated genes. The company expects to use its new financing to expand its current patent portfolio and to advance the development and commercialization of any resulting new diagnostic and therapeutic products.

This is truly a rapid growth field. The total market for next generation cancer diagnostics is believed to be growing at a rate of 47 percent annually, with a forecast global market size of over $5 billion by 2015. The overall cancer therapeutic market was reported to be over $50 billion worldwide in 2010 and represents the most rapidly growing segment of the pharmaceutical industry.

For further information on BioTime, OncoCyte and BioTime’s other subsidiaries, please visit the company’s website at www.biotimeinc.com

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Sky Power Solutions Corp. (SPOW) Aims for Best Mix of Solar Technologies

The use of solar panels for generating electricity, though still a small part of the total electricity generation industry, is growing so quickly that one would think the overall economy was booming. Greater efficiencies and falling prices are at last making solar power a realistic alternative for homes and businesses, and demand for solar has never been greater. The competition is now on to determine the most effective solar technologies, giving the consumer the biggest bang for their solar buck. The Sky Power Solutions approach is to combine the best of multiple solar related technologies, creating the most efficient and cost effective solar power solution for residential and small business size applications.

First of all, Sky Power uses a specially designed concentrating solar collector, having a solar concentration ratio that is much higher than that of a solar trough. In addition, due to the design’s unmatched orientation flexibility, it can be computer controlled to always point directly at the sun, further maximizing effectiveness. As a result, they are able to generate fluid temperatures in excess of 1380°F. The collectors are readily scalable, and can be used for individual generation or configured to support a central generator.

The Sky Power solar engine compresses the working fluid when it is cold, heating it, and then expanding it through a turbine or with a piston to produce mechanical power. The engine is coupled to an efficient electric generator to produce the final product.

The final part of the system is the potential use of advanced lithium ion battery technology for energy storage, although linking such a generation system with the grid could conceivably bypass even this need for some users. Sky Power again has an advantage, in that its former parent company, Li-ion Motors, is an award winning electric car developer, allowing Sky Power to work with leading-edge battery and power management technologies.

For additional information on Sky Power, visit the company’s website at www.SkyPowerSolutions.com

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VLOV Inc. (VLOV) Posts Solid Q2, Six-month Financials

VLOV Inc., a designer and marketer of VLOV-brand fashion forward apparel for men in the People’s Republic of China, today announced financial results for the second quarter and six months ended June 30, 2011.

Net sales for the second quarter of 2011 were $20,588, a 14.7 percent increase from $17,946 for the same period in 2010. Net sales for the six months ended June 30, 2011, were $41,761, a 15.9 percent increase from $36,013 for the same period of 2010.

Gross margin as a percentage of total net sales increased to 44.9 percent and 44.4 percent for the three and six months ended June 30, 2011, respectively, compared to 38.1 percent and 38.2 percent in the same periods in 2010, respectively.

VLOV reported a 15.8 percent decrease in net income to $3, 762 for the second quarter of 2011 compared to net income of $4,467 for the comparable quarter of 2010. For the six-month period of 2011, net income increased by 48.5 percent to $8,233 compared to $5,544 for the six months ended June 30, 2010.

As of June 30, 2011, VLOV had cash and cash equivalents of $15.7 million, total current assets of $42.7 million and current liabilities of $6.2 million.

The company noted its acquisition of several store locations from its distributor, which boosted financial performance in the second quarter, and is expected to continue to drive growth.

“We are pleased to report another quarter of solid financial performance, which reflects strong consumer response to our designs and increasing excitement around our brand. As part of our strategy to further evolve the VLOV brand to appeal to upscale consumers, we made the decision to acquire 13 VLOV store locations from our Fujian distributor,” Qingqing Wu, chairman and CEO of VLOV stated in the press release. “We believe direct ownership of these stores — located near our corporate and design headquarters — will allow us to showcase VLOV’s design aesthetic and brand image, while at the same time further educating the company’s distributors about our brand DNA.”

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Nevsun Resources Ltd. (NSU) Secures $235M Bisha Purchase Arrangement, Strengthening Position in African Gold and Silver Production

Nevsun Resources, the rapidly growing mineral producer currently focused on aggressively expanding its resource base in and around its massive Bisha Mine Project in Eritrea, East Africa, reported finalization of arrangements with the State over purchase of 30% of the mine by Enamco (the Eritrean National Mining Corporation).

President of NSU, Cliff Davis, commented on how excellent a partner Enamco has been in Bisha thus far, contributing significant financial and logistical support, ultimately culminating in this latest deal which has an agreed-upon price tag of $253M. The payment is slated to be settled via after tax cash flow from the Bisha mine, which is projected to produce some 1.14M oz Au, 11.9M oz Ag, 821M pounds of copper and in excess of a billion pounds of zinc.

A particularly good deal for Eritrea, as Enamco’s ownership interest will cover the cost without additional government funds, with the balance expected to be settled within the first two years of operation when the mine’s profile will be yielding large outputs of gold at a low cost. Given the profile of the mine, it will emerge after around two years of robust precious metals production, to become more focused on solid high-grade copper and zinc.

The purchase price was arrived at by mutually appointed and independent international institutions, having been based upon the 2007 shareholder agreement valuations and resolved as a determination process between NSU and Enamco’s proxies.

A formula has been agreed upon; whereby a large chunk of the cash generated by Bisha, which would otherwise be paid to Enamco, will be go to NSU until the purchase price is paid in full.

Davis went on to extol the Eritrean government’s initiative to embrace mineral development and hailed this as a prime example. Citing the vast logistical support from the government’s various Ministries in the run up to this point at Bisha, Davis argued that Eretria is quickly shaping up to be a global hotspot for mineral development, where “direct economic benefits, skill enhancement and supply chain expansion” are contributing to a perfect storm of enticements for international investment capital.

NSU is in a prime position to deliver high value to shareholders as precious metals, and minerals in general continue to trounce expectations. With gold and silver generating incredible momentum amid long-term sovereign debt concerns, NSU is another one of those small, dynamic mineral developers poised for huge success.

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Scorpex, Inc. (SRPX) Provides Investors with Update on Audit and Financials

Scorpex, Inc., an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region, just announced additional details of the previously reported initiative to prepare its financials for a formal audit. An SEC accredited audit will raise the Company’s status to “Fully Reporting” while increasing transparency for both current and future investors.

As announced two weeks ago, Scorpex has engaged the services of the Acadia Group to prepare for its audit and the filing of financial reports with the U.S. Securities and Exchange Commission (“SEC”) pursuant to the Securities Exchange Act of 1934. The Acadia Group provides publicly traded small-cap companies with both accounting and legal services internationally. It is anticipated that the audit will be completed in the fourth quarter of this year.

Chief Executive Officer Joseph Caywood stated, “By becoming a fully-reporting company, the Company will achieve its goal of providing shareholders with increased transparency while elevating itself in the market as a public entity to more qualified investor groups. Following completion of the audit, we plan to take the next step of listing on a senior securities exchange as we move toward meeting other criteria of the exchange.”

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BioDelivery Sciences International, Inc. (BDSI) Launching ONSOLIS in Canada

BioDelivery Sciences International Inc. is a specialty pharmaceutical company that is commercializing new applications of proven applications. The company is currently focusing its efforts in the areas of pain management and oncology supportive care.

The company today announced that the commercial launch and availability of ONSOLIS (fentanyl buccal soluble film) in Canada will occur this quarter. ONSOLIS is approved in the US and Canada for the management of pain in opioid tolerant, adult patients with cancer. This product will be marketed in Canada by Meda Valeant Pharma Canada Incorporated, a joint venture between BioDelivery Sciences’ commercial partner for ONSOLIS, Meda, and Valeant Canada Limited.

Valeant Pharmaceuticals International Inc. is a specialty pharmaceutical company. In Canada, its portfolio includes products for the treatment of pain and oncology supportive care. This makes them an ideal partner for BioDelivery Sciences International and the commercialization of ONSOLIS.

The Canadian market will be of particular importance to BioDelivery Sciences. That is because ONSOLIS will be among the first products available in the country for the management of pain in patients undergoing cancer treatment that have a tolerance for opioids. The company also plans to introduce ONSOLIS soon in other markets such as Europe, where it is also approved and will be marketed as BREAKYL.

For more information on BioDelivery Sciences International, please visit the company’s website at www.bdsi.com

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Scorpex, Inc. (SRPX) $30M Deal with IET Inc. Speeds-up Facility Launch

The Mexican manufacturing sector is rapidly expanding. The development of new and existing industries, paired with increased investments from foreign national companies, is driving a significant increase in the need for disposal of industrial waste.

Scorpex Inc., an emerging industrial, hazardous and toxic waste disposal service provider, aims to capitalize on this need as it executes its strategy to become a recognized leader in the waste disposal industry in the Baja Mexico/California region. Future plans include expanding to other locations.

The company recently inked a $30 million major equipment deal with Kentucky-based International Environmental Technologies Inc. (IET), in which Scorpex will purchase IET’s waste gasification/thermal oxidation equipment as well as acquire a license to use the technology.

IET will install the equipment and train supervisory personnel to operate and maintain the equipment, and will back the deal with a warranty for equipment installed. Scorpex will also receive a set of spare parts and issue certificates of completion.

Running at full capacity, Scorpex’s IET plant will be capable of processing 800 tons of hazardous and industrial waste each day. IET’s gasification process eliminates 99.9 percent of all combustible waste without any harmful emissions or odor, eliminating the problem of animals and insects scavenging through the waste.

The contract is a key step in Scorpex’s mission to establish its first waste disposal and processing plant outside Ensenada, Mexico, which according to the company, is on track to commence full operations ahead of schedule.

For more information, visit www.scorpex.com


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JA Solar (JASO) Posts Q1 Results, Continued Focus for Remainder of 2011

JA Solar Holdings Co. Ltd. announced its financial results for its first quarter ended March 31, 2011.

Revenue in the first quarter of 2011 was $556.4 million, an increase of 91.2 percent from $290.9 million reported in the first quarter of the year prior.

Gross profit in the first quarter of 2011 was $96.3 million, compared with $67.0 million in the first quarter of 2010. Gross margin was 17.3 percent in the first quarter of 2011, compared with 23.0 percent in the comparable quarter of 2010.

Operating income in the first quarter of 2011 was $83.3 million, compared with $54.1 million in the first quarter of 2010.

Earnings per diluted ADS in the first quarter of 2011 were $0.41, an increase of 66.5 percent compared with earnings per diluted ADS of $0.25 in the first quarter of 2010.

In the first quarter of 2011, JA Solar generated operating cash flow of $64.2 million, or $0.37 per diluted ADS.

“Despite the seasonally weaker first quarter and uncertainties surrounding Italy’s solar policies, our first-quarter performance illustrates that our strategic partners continue to recognize our clear market leadership on costs and technology,” Dr. Peng Fang, CEO of JA Solar stated in the press release.

Dr. Fang said JA Solar’s shipments were negatively impacted by factory shutdowns during the week-long Chinese New Year holiday. Regardless, the company’s overall shipments for the quarter remained relatively close to production volume, sustaining demand for its products and reflecting its long-term strategic partnerships.

“Underpinning this is our unique position as the industry’s low cost leader, and we are confident that in the future we can achieve even greater production efficiencies and drive costs down further,” he stated.

For the remainder of 2011, Dr. Fang said the company will maintain its focus on building new partnerships to expand its market presence, primarily targeting opportunities stemming from the high growth potential of the U.S. market and potential partnerships.

“These partnerships give us valuable exposure to the utility scale project market and enable us to rapidly grow our U.S. footprint,” Dr Fang stated. “We are similarly well positioned in China, where our status as one of the largest and most-respected players in the industry will enable us to take advantage of opportunities as the market expands.”

For more information visit http://www.jasolar.com

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Echo Therapeutics Inc. (ECTE) is “One to Watch”

Echo Therapeutics Inc., a transdermal medical device company, leverages its extensive expertise in advanced skin permeation technology to develop its Symphony tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring system, and its Prelude SkinPrep System for needle-free, painless drug delivery as well as analyte extraction.

All existing FDA-approved continuous glucose monitoring systems are needle-based, requiring insertion of a glucose sensor into the patient’s skin. Not only does this cause discomfort, but it also gives rise to risks of infection, inflammation or bleeding at the insertion site. Echo Therapeutics’ Symphony tCGM does not require insertion of its glucose sensor, eliminating the risks and discomfort associated with needle-based CGM systems.

Because patients are often unaware that their glucose levels are either too high or too low, they are unable to always control their glucose levels and prevent complications. Echo Therapeutics believes the addressable market for needle-free, continuous wireless glucose monitoring in the hospital critical care setting is quite large. It estimates that the opportunity exceeds $1 billion annually. Overall, the global glucose monitoring market exceeds $12 billion annually.

The Prelude SkinPrep System incorporates Echo Therapeutics’ patented skin permeation control technology into a comfortable, hand-held device that increases the permeability of the skin allowing for analyte extraction and drug delivery. The key feature of the company’s skin permeation technology is its feedback control algorithm used to achieve optimal and pain-free skin preparation for transdermal sensing technologies.

The SkinPrep System has the potential to provide a safe and cost effective skin permeation process for rapid delivery of medication across the epidermis. Echo Therapeutics believes that its Prelude skin permeation process could increase transdermal topical drug delivery by as much as 100 times greater than untreated skin, including the delivery of a wide range of small and large molecule drugs.

Equity research coverage of Echo Therapeutics has been initiated by Morgan Joseph TriArtisan, JMP Securities, Feltl and Company, Chardan Capital Markets, and Noble Financial Capital Markets, all of which have issued a “Buy” or “Strong Buy” rating on the stock. The average analyst price target is currently $6.00, with projections as high as $8.50.

Both the Symphony tCGM System and Prelude SkinPrep System address exceedingly large and expansive market opportunities. As Echo Therapeutics continues to advance with its cutting-edge technology and proves its competence in the lucrative medical device industry, the company stands well positioned to increase shareholder value.

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BioTime, Inc. (BTX) Announces Four Human Embryonic Stem Cell Lines Approved for Inclusion in NIH Registry

BioTime, Inc., a California biotechnology company focused on regenerative medicine and blood plasma volume expanders, today announced NIH (National Institutes of Health) approval of four of the company’s embryonic stem cell lines for inclusion in the NIH Human Embryonic Stem Cell Registry. The four stem cell lines are ESI-035, ESI-049, ESI-051, and ESI-053, developed by BioTime wholly owned subsidiary ES Cell International (ESI), one of the earliest pioneers of human embryonic stem cell technology

BioTime President and CEO, Michael D. West, Ph.D., commented on the announcement. “As researchers work towards developing therapeutics for use in hard-to-treat diseases, we believe that our clinical grade hES cell lines will enable them to easily translate scientific progress into commercially successful therapeutic products.”

BioTime has supplied research grade versions of the lines to dozens of researchers throughout California, and has agreed to provide the complete genome sequence to the public by this fall to facilitate the development of associated products. Research projects that use human embryonic stem cell lines are eligible for federal funding only if the lines are listed in the NIH Registry. A large pharmaceutical house is already evaluating one of the lines for possible used in its product development program.

BioTime’s broad platform of stem cell technologies is developed through subsidiaries focused on specific application areas. The company develops and markets research products such as ACTCellerate™ cell lines, culture media, and differentiation kits. BioTime’s lead product, Hextend®, is a blood plasma volume expander manufactured and distributed in the U.S. by Hospira, Inc., and in South Korea by CJ CheilJedang Corp. under exclusive licensing agreements. In addition to ESI, BioTime subsidiaries are ReCyte Therapeutics, Cell Cure, OrthoCyte, OncoCyte, BioTime Asia, LifeMap Sciences.

For additional information, visit the company’s website at www.BioTimeInc.com


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AdCare Health Systems, Inc. (ADK) Signs New Agreement to Purchase Skilled Nursing and Assisted Living Community for $13.5 Million

AdCare Health Systems, Inc., a leading provider of skilled nursing and assisted living facility management, announced today that they will purchase for $13.5 million an Ohio skilled nursing and assisted living community. The community has 193 beds and generates about $12 million in gross annualized revenues. AdCare plans to finance the acquisition of the assisted living facility with a 30-year, fixed-rated, tax-exempt bond issuance, and finance the skilled nursing facility with a traditional bank loan.

“Our strategy of acquiring skilled nursing facilities is proving highly successful, not only in our closing rate and terms, but also in our post-acquisition performance. We have been targeting facilities that have not traditionally concentrated on providing post-acute services, and then once acquired, we optimize patient care, occupancy and quality mix,” said Boyd P. Gentry, president and chief executive officer, AdCare, in the announcement.

With this transaction, AdCare will have acquired 44 new facilities since 2009 with over 4,890 beds. AdCare anticipates this year’s annualized revenue to exceed $280 million when this and other deals close, which will be a 426% over the company’s revenues in 2010 and more than 949% over revenues in 2009 when it initiated the current M&A campaign.

“Since establishing new operations in Alabama, Georgia and North Carolina, we’ve now made our first acquisition in the state of our origins,” said Chris Brogdon, vice chairman and chief acquisitions officer, AdCare, in a press release on Friday. “These new facilities will leverage the professional support staff we’ve long maintained in Ohio, as well as enhance our overall economies of scale.”

AdCare’s 3,200 employees provide high-quality care for patients and residents residing in the 31 facilities that they manage, 23 of which are skilled nursing centers, seven assisted living facilities and one independent senior living community. AdCare owns seven of the skilled nursing centers and six of the assisted living facilities. In addition, AdCare has lease agreements on eleven skilled nursing centers. AdCare currently operates in Ohio, Georgia, Alabama and North Carolina.

For more information about AdCare, please visit www.adcarehealth.com

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Energizer Resources Inc. (ENZR) Moves to Secure Permitting on Huge Vanadium Deposit in Madagascar, Hosts Governmental Delegation, Reports on Advanced Vanadium Extraction Techniques

Energizer Resources, the Toronto-based mineral developer currently focused on its 100% owned Green Giant vanadium deposit in Madagascar (one of the largest known deposits in the world), made a significant stride towards finalizing the prep-work and permitting for the Green Giant mine site, hosting a prestigious delegation in May from the Madagascar government.

The delegation included the Prime Minister, Minister of Mines and other key ministerial officials, including the engineer responsible for handling the Green Giant’s pending environmental evaluation for the Ministry of Mines. This was an excellent opportunity for ENZR to showcase the minimal impact of the designed site and benefit to the local economy/community.

Principal Geologist and VP of Exploration at ENZR, Craig Scherba, who is also a Director of the Company, led the tour and rigorously outlined the design for the mine site and outlying infrastructure, giving solid indications to the assembled personages that the Green Giant Vanadium Project would be a huge boon for Madagascar. Remote from populated areas yet readily accessible, the site is also at considerable distance from any environmentally sensitive areas, making the Green Giant an ideal development location.

Plans for the outlying infrastructure have gone into high gear since the governmental visit in May, with the Company’s engineering group out of South Africa, DRA Mineral Resources, ramping up to aggressively tackle the planned layout for the mine facility and residential support village. The village is projected to support some 550 personnel and currently ENZR employs some 50 local people daily during ongoing explorative efforts, already contributing handsomely to the local economy.

Confidence is very high at ENZR that the build up and permitting process will go smoothly. Scherba and ENZR’s VP of Business Development, Brent Nykoliation, are scheduled to fly in this coming week to initiate the permitting process.

Also among the exciting news coming out of ENZR’s Green Giant project is an update on metallurgical process optimization associated with the ongoing PEA (preliminary economic assessment) study. Refinement of the vanadium extraction process, confirmed with the help of 30-year vanadium industry veteran George Annandale, by SGS Mineral Services (Lakefield) in 2010, is a major advantage for the Company here. Annandale, who is directing the SGS test work as part of the PEA study, extolled the adaptation of alkaline pressure leeching that is widely used in uranium ore treatment for vanadium extraction, citing 82% recovery rates.

Among the relevant PEA study data:

• The vast majority of all buildings, including the residential village have complete layouts and plans including pricing estimates, with a full suite of staple locales
• Fire control and water supply/treatment are both either planned or nearly done and being priced
• Logistical studies are underway to optimize shipping/transport
• Local company AGETIPA is currently conducting environmental/socio-economic studies

For more information on developments at the Green Giant Vanadium Project, or for more information on Energizer Resources Inc., please visit the Company’s website at www.energizerresources.com

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Mer Telemanagement Solutions Ltd. (MTSL) Signs $2.5 Million Agreement with U.S. Based Mobile Virtual Network Operator for Mobile Billing and Customer Care

Mer Telemanagement Solutions (MTS) Ltd., an Israeli Company that provides global business support systems (BSS) for comprehensive telecommunication management, telecommunications expense management (TEM) solutions and customer care & billing (CC&B) solutions, today announced that a large U.S. based Mobile Virtual Network Operator (MVNO) has extended their contract through 2012 for MTS’s MVNO customer care and billing solution. MTS Telecommunications expense management solutions are used by thousands of organizations to ensure their telecommunication services are acquired, provisioned and invoiced correctly.

“The MVNE and Wireless Management business continues to grow and we managed to extend our contract through the end of 2012 with a large MVNO in the U.S., which provides for minimum total revenues of $2.5 million,” said Eytan Bar, Chief Executive Officer, in a press release. “Our MVNO Billing and TEM Suite solutions provide our customers with a scalable, end-to-end portfolio of telecom expense management and billing solutions and services.”

MTS’s solutions for Information and Telecommunication Service Providers are used worldwide by wireless and wireline service providers for interconnect billing, partner revenue management and for charging and invoicing their customers. MTS’s MVNO Billing Solution offers any MVNE (Mobile Virtual Network Enabler) the opportunity to seamlessly extend and adapt their operations to support multiple virtual networks and their subscribers in any market regardless of their location and localization requirements.

MTS also offers a full suite of Telecom Expense Management (TEM) software solutions and services. The TEM Suite software, consulting and managed services solutions allows professionals at all levels of an organization to have access to concise, actionable data.

For more information, please visit the MTS website at www.mtsint.com


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Canadian Solar Inc. (CSIQ) Posts Strong Q2 Results, Forecasts Continued Growth for 2012

Canadian Solar Inc., one of the world’s largest solar companies, today announced its financial results for the second quarter ended June 30, 2011, reflecting a solid quarter with increases across the board.

Net revenue for the second quarter of 2011 was $481.8 million, up 8.7 percent from $328.7 million in the second quarter of 2010.

Gross profit for the second quarter of 2011 was $63.7 million, up 42.8 percent from $44.6 million in the second quarter of 2010. Gross margin was 13.2 percent in the second quarter of 2011 compared to 13.6 percent in the second quarter of 2010.

The company reported net income for the second quarter of 2011 at $7.1 million, or $0.16 per diluted share, compared to net income of $3.2 million, or $0.07 per diluted share, for the second quarter of 2010.

As of June 30, 2011 Canadian Solar had $686.3 million in cash, cash equivalents and restricted cash compared to $477.6 million at the end of the first quarter of 2011 and $476.2 million as of December 31, 2010.

Dr. Shawn Qu, chairman and CEO of Canadian Solar, said the company’s second quarter achievements were boosted by significant customer wins and two major strategic capacity joint-ventures.

“This was a solid quarter for Canadian Solar,” Dr. Qu stated in the press release. “We achieved impressive shipment growth due to our strategy of building desired capacity, our track record of quality, performance and service, and our increased brand recognition worldwide. We are confident we can continue to gain market share, based on continued strength in Germany, Italy, and the U.S., along with a rebound in Japan and the benefit of new regions, including India. We have also seen the market in Canada picking up in the past month.”

For the third quarter of 2011, the company said it anticipates recognized shipments to be in the range of approximately 350 MW to 360 MW with gross margin expected to be between 9 percent and 12 percent.

Canadian expects continued growth throughout 2010, boosted by its steady progress on integral research and development and new product development initiatives. The company said it expects to start commercial shipment of its ELPS modules in the fourth quarter of 2011, and that it anticipates strong global sales and service network driven by its technology innovations and diversified business strategy.

For more information, visit www.canadiansolar.com

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Scorpex, Inc. (SRPX) Receives Federal Use of Soil Permit

Today after the closing bell, Scorpex announced it has been granted its Use of Soil Permit from the Mexican federal government. According to the company, it is the “most significant permit the company has received to date” for its first full service waste disposal and recycling facility near Ensenada, Mexico.

“This achievement is the most significant milestone Scorpex has ever accomplished,” emphasized Chief Executive Officer Joseph Caywood. “Most of our efforts for the past several years has been dedicated to the permitting process, and for us to receive this Use of Soil Permit is a monumental achievement for our Company and its shareholders.”

The Use of Soil Permit is an environmental approval from the Secretariat of the Environment, Natural Resources and Fishing, which has sole jurisdiction over environmental policy and enforcement throughout Mexico. In order to receive this crucial permit, the Company had to submit numerous studies and comply with every request from this government agency. The Use of Soil Permit is necessary for the issuance of future state and local operational permits.

“We are now very close to obtaining the rest of the permits required for use and operations, which will trigger the previously announced equipment financing we have committed from lenders,” Mr. Caywood stated.


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Lake Shore Gold Corp. (LSG) is “One to Watch”

Lake Shore Gold is an aggressively growing gold mining company, actively establishing interests in, and developing, properties in Canada and, to a lesser degree, in Mexico. Its primary focus has been the Abitibi Greenstone belt in northern Ontario and Quebec, with its main base in Timmins, Ontario. The company’s stated goal is to become a mid-tier gold producer through the successful exploration, development, and operation of its growing list of properties in Ontario and Quebec

The company’s wholly owned projects in Timmins are Timmins Mine, where commercial production was achieved in January of 2011, Thunder Creek, where mineralization has been intersected, and Bell Creek Mine, which is progressing to becoming Lake Shore’s second mining operation in the Timmins Gold Camp. The Bell Creek Mill, also in Timmins, was recently expanded, and now has a processing capacity of 2,000 tons per day. The mining rate at Timmins Mine averaged 1,700 production tons per day by the end of 2010, exceeding the mine’s target rate.

The Timmins West Gold Complex consists of the Timmins Mine, Thunder Creek, the 144 Property, and the Gold River Trend. Lake Shore also holds 90 meters of strike along the Casa Berardi break in northern Quebec and northern Ontario. The company entered into a joint venture agreement with Aurizon Mines Ltd. for the Casa Berardi optioned property, which covers a 30 kilometer strike length of the Casa Berardi deformation zone. Lake Shore is also involved in several gold/silver mining projects in northern Mexico.

In addition to its own properties, Lake Shore holds approximately 25% interest in Northern Superior Resources, Inc., a junior exploration company exploring for gold and diamonds on the Superior Province of the Canadian Shield, in Ontario and Quebec. The company also controls about 27% of RT Minerals Corp., a junior exploration company engaged in the business of exploring for and developing mineral properties in Ontario and Quebec.

For additional information on Lake Shore Gold, visit the company’s website at www.LSGold.com

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Brazil Resources Inc. (BRIZF) is “One to Watch”

Brazil Resources Inc. is a mineral exploration company focused on acquiring and developing projects in emerging producing gold districts in Brazil and other parts of South America. Currently, the company is primarily concentrated on its Montes Áureos property located in the State of Maranhão, Brazil, within the Gurupi gold belt. Brazil Resources is also seeking to acquire and develop additional gold properties within Brazil and other parts of South America.

The company’s executive team and directors have established a proven track record in raising capital in the resource sector, and its technical team has been involved in the discovery and development of more than 10 million ounces of gold in Brazil. All projects are accessible by road and have abundant access to water, electricity and local labor with nearby towns. Additionally, as a premier mining jurisdiction, Brazil is known for low tax rates and a stable political climate that encourages foreign investment.

Brazil Resources’ 23,643-acre Trinta Project in Maranhão State, Brazil has distinctive structural features that are consistent with the regional geology of the Gurupi
Gold Belt. The company plans to conduct an initial exploration program that includes geological mapping and geochemical reconnaissance sampling over the entire property as well as detailed soil sampling/auger drilling over selected areas. The initiative is in addition to a previously announced $1.7 million exploration program on its Montes Áureos Gold Project within the same region.

The Gurupi Gold Belt is an underexplored and emerging geological region that hosts several million ounces of gold resources within 100 km of the company’s projects. The Gurupi Gold Belt is believed to be part of the same geological structure as the West African Shield, which has produced millions of ounces of gold production. Recognized mining companies, including Kinross Gold (NYSE: KGC), Jaguar Mining (NYSE: JAG) and Luna Gold (TSX: LGC), are active in the area.

As of August 10, Brazil Resources had a cash position of $7.1 million. Management and insider ownership is approximately 35% of the outstanding shares, with institutional ownership accounting for about 25%. With a clear strategy of development in place and strong financial resources to draw from, the company is well positioned to execute comprehensive exploration programs and further develop its portfolio of promising projects.

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Scorpex, Inc. (SRPX) Advances to Become Owner, Operator of Waste Disposal Facility in Mexico

Scorpex, Inc. is focused on taking necessary measures to operate a full-service waste disposal and recycling company for the extensive region of Baja California, Mexico.

The first facility, to be located on the company’s existing property outside Ensenada, Baja, has undergone three years of applications, permits and required studies. Scorpex intends to construct ten hazardous and industrial waste storage structures on its Ensenada property, and has built 80 percent of the first facility.

Moving forward, the company’s future strategy calls for the construction of storage, recycling and disposal facilities in strategically located areas throughout Mexico. To execute this plan, the company has retained several real estate and legal consultants within Baja, which will also assist the company in maintaining a healthy relationship with the community and industry consultants.

In addition, Scorpex has secured commitments from various manufacturers and waste haulers in Baja regarding the use of the company’s new facility as a place to store and dispose of their industrial waste.

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Comstock Mining, Inc. (LODE) is “One to Watch”

A Nevada-based gold and silver mining company, Comstock Mining Inc. has extensive, contiguous property in the Comstock District. Since its first acquisition in the Comstock District, the company has consolidated a significant portion of the region, amassing the single largest known repository of historical and current geological data on the Comstock region.

The company continues to focus on acquiring additional properties in the district, expanding its footprint and pursuing further opportunities for exploration and mining. Comstock Mining aims to deliver stockholder value by validating qualified resources and reserves of 3,250,000 gold equivalent ounces over the next two years. Earlier this year, the company began trading on the NYSE Amex, raising its investment profile for increased visibility with current and potential investors.

During the most recently ended quarter, the company successfully advanced its drilling program to completion. Significant milestones achieved include completing the infill drilling on the Hartford, Lucerne and Justice claims for the starter mine; completing the first and second phases of development drilling in the Dayton Resource Area; and completing the first phase development drilling on the East-Side target in the Lucerne Resource Area.

Commenting on the company’s performance, CEO Corrado De Gasperis stated, “…We completed our largest, most successful drilling campaign and continued a high rate of discovery and productivity, including the discovery of high grades of gold and the prevalent deposits of silver. These results will be included in an updated 43-101 technical report resource estimate, expected to be completed in September of this year. With a strong production team, metallurgical testing and mine planning completed and equipment ordered we are on track to begin production at our starter mine by the end of the year.”

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Scorpex, Inc. (SRPX) Provides Additional Details of Financing Commitments

Scorpex, Inc. today provided investors with additional information regarding the debt financing commitments announced after the closing bell yesterday. Secured by the equipment, receivables, land and other assets of the Company, the loans are from two different sources for up to $35 million USD.

Chief Executive Officer Joseph Caywood stated, “Unlike many other businesses who are struggling to finance operations, we have had no difficulty securing sufficient financing commitments. Having these commitments in hand within such a short time of signing the equipment agreement with IET demonstrates our ability to secure the financing necessary to continue executing our business plan.”

“We have been very pleased with the warm reception exhibited by these lenders,” Mr. Caywood continued. “The financing will enable accelerated growth of the Company and the ability to achieve milestones sooner than expected, which will subsequently have a dramatic positive effect on shareholder value.”

“As a result of the insatiable demand for local waste disposal and the diverse clientele driving the market, our company is in a highly enviable position to secure abundant financing at very favorable terms. In addition to the substantial commitments mentioned above, we anticipate hearing from several others who may also desire to provide us with competitive low-cost financing,” he concluded.

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Onstream Media Corp. (ONSM) Reports Record Fiscal Q3 Revenues

Onstream Media Corp. reported record financial results for its fiscal third quarter; the company‘s fiscal year is set to end September 30. The announcement came just after Monday’s closing bell.

The company said it racked up a record $4.6 million in fiscal third-quarter revenues. This represents a 4.4% gain over Q3 2010 fiscal results and a 3% sequential increase over Q2 2011 fiscal results. Revenues from October through June were a record $13.4 million, up 5.7%, as compared to $12.6 million in the comparable period for fiscal 2010.

The Pompano Beach-based Onstream is a veteran provider of live and on-demand corporate audio and web communications, virtual event technology and social media marketing. According to its website, it serves a wide range of blue-chip companies, including Bank of America (NYSE: BAC), Sony (NYSE: SNE), eBay (Nasdaq: EBAY), United Parcel Service (NYSE: UPS), BMW, Disney (NYSE: DIS), General Electric (NYSE: GE), Warner Brothers, Staples (Nasdaq: SPLS), Coca Cola (NYSE: KO), and others.

Onstream was able to sharply reduce operating expenses as well, to the extent of a 6.6% reduction, thereby adding to its bottom line and representing a $249,000 differential below fiscal Q3 operating expenses.

The company also trimmed losses for the three months ended June 30, 2011 to about $486,000, a 54.8% decrease when compared to net losses of about $1.1 million for Q3 of fiscal 2010.

In making the announcement, Onstream CEO Randy Selman observed, “Revenues in the third quarter of fiscal 2011 represented our second consecutive quarter of record revenues… We are also pleased to report our second consecutive quarter of positive cash flow from operating activities (before changes in current assets and liabilities)…”

Selman also called attention to debenture reductions and developments with the MarketPlace365® venture, citing nine active MP365 promoter sites and 29 additional promoter agreements. Convertible debenture liability, he said, was reduced from $1.2 million to $510,000 from March 31 to the present, “via cash payments as well as the issuance of common shares.”

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China XD Plastics Company Ltd. (CXDC) Announces $100 Million Investment from Morgan Stanley Private Equity Asia to Expand Production Capability

China XD Plastics Company Limited, one of China’s leading players engaged in the development, manufacture, and sales of modified plastics primarily for automotive applications, today announced that Morgan Stanley Private Equity Asia (“MSPEA”) has agreed to make a $100 million equity investment for a significant minority ownership stake in the Company. The investment by MSPEA, one of the leading private equity investors in Asia, will help China XD Plastics to expand and further upgrade its production capabilities. MSPEA will also designate two members to be elected to the board of directors of the Company and the number of directors on the Board will be increased from seven to nine.

“This investment will enable us to accelerate our domestic capacity expansion and production line upgrade plans and invest in developing new products to better satisfy the demand for our products in the market. MSPEA brings international best practices and financial and capital markets expertise as well as a track record of over 18 years of success in guiding and supporting companies to achieve their strategic and financial goals,” said Jie Han, Chairman and CEO, China XD Plastics in a press release on Monday.

China XD Plastics is one of the largest domestic modified plastics players in China where the demand for automobiles is outpacing other countries. As of June, China XD had one of the largest portfolios of product certifications in the automotive modified plastics industry. China XD’s products are used in the exterior and interior trim and in the functional components of more than 70 automobile brands manufactured in China, including AUDI, BMW, Toyota, Buick, Mazda, VW Golf, Jetta, and Hafei new energy vehicles.

“MSPEA has a disciplined strategy of investing in market-leading businesses with high-quality management teams and compelling competitive advantages. We see the automotive modified plastics market in China as having attractive long-term growth prospects and China XD Plastics as having established itself as a strong and leading player in this space. We are impressed by the Company’s product development and production management capabilities as well as its experienced management team,” said Ed Huang, a Managing Director of Morgan Stanley Private Equity Asia, in the announcement press release.

For more information on China XD Plastics Company Limited, please visit http://www.chinaxd.net

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