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DSCM, QBII, LPTH, BRZL, OTOW, TDCP
Our Stocks to Watch today include Drugstore.com Inc. (Nasdaq: DSCM), Quantum Bit Induction Technology Inc. (OTC: QBII), LightPath Technologies Inc. (Nasdaq: LPTH), Brazos International Exploration Inc. (OTCBB: BRZL), O2 Secure Wireless Inc. (OTC: OTOW) and 3DIcon Corp. (OTCBB: TDCP).
STOCKS TO WATCH
DRUGSTORE.COM INCORPORATED (NASDAQ: DSCM)
"Up 110.61% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/DSCM.php
Drugstore.com, inc. is a leading online retailer of health, beauty, clinical skincare, and vision products. Our portfolio of brands includes: drugstore.com™, Beauty.com™, SkinStore.com™ and VisionDirect.com™. All provide a convenient, private and informative shopping experience, while offering a wide assortment of approximately 60,000 non-prescription products at competitive prices.
DSCM News:
March 24 - Walgreens to Acquire Online Retailer drugstore.com, inc.
Walgreen Co. (NYSE: WAG) and online retailer drugstore.com, inc. (Nasdaq: DSCM) announced a definitive merger agreement pursuant to which Walgreens will acquire drugstore.com in a transaction with a total enterprise value of approximately $409 million.
“Our acquisition of drugstore.com today significantly accelerates our online strategy to leverage the best community store network in America by becoming the most convenient choice for health and daily living needs whether customers shop online or in our stores,” said Walgreens President and CEO Greg Wasson. “This acquisition offers a unique opportunity that will provide us immediate access to more than 3 million savvy, online loyal customers, and will allow us to move even closer to our existing customers through relationships with new vendors and partners, adding approximately 60,000 products to our already strong online offering. Importantly, drugstore.com’s well-recognized presence in the health, personal care, beauty and vision categories, including such strong websites as drugstore.com™, Beauty.com™, SkinStore.com™ and VisionDirect.com™, will complement and extend many of our own multi-channel initiatives that have been driving growth in our business. As a result, we are positioned better than ever to be the most convenient multi-channel retailer of health and daily living needs in America – offering customers what they want, when they want it and where they want it.”
Under the terms of the merger agreement, drugstore.com stockholders will receive $3.80 in cash for each share of stock, which represents an equity value of approximately $429 million. The price per share is a premium of approximately 102 percent over drugstore.com’s 30-day average closing stock price, and a premium of approximately 113 percent over the closing price of drugstore.com’s common stock on March 23, 2011, the last trading day prior to today’s announcement.
Consummation of the merger is subject to customary conditions, including satisfaction of regulatory requirements and approval of the transaction by drugstore.com’s stockholders. Walgreens will fund the acquisition with existing cash and anticipates the merger will close by the end of June 2011. The definitive agreement was unanimously approved by drugstore.com’s board of directors, and drugstore.com’s board recommends that the company’s stockholders vote in favor of the transaction.
“We believe the acquisition of drugstore.com by Walgreens is a great fit for all of our constituencies,” said Dawn Lepore, drugstore.com CEO and Chairman. “drugstore.com benefits from this transaction by joining the largest and most trusted drugstore chain in the U.S. Our growth strategies are perfectly aligned, and Walgreens will be able to accelerate and expand the investments necessary to achieve our vision and growth opportunities. Our goal consistently has been to create value for our customers, employees and shareholders. We believe we have made significant progress over the last six years and built an organization with a broad and deep bench of Internet experience. The opportunity to become a part of Walgreens is the right next step in this journey.”
With more than $456 million in sales in 2010, drugstore.com is ranked as the eighth-largest e-tailer in the U.S. according to Internet Retailer magazine. Walgreens will maintain drugstore.com’s corporate office in Bellevue, Wash., after the transaction is completed. drugstore.com employs approximately 1,000 people at its offices, call center and distribution centers.
As a result of the merger, Walgreens will acquire the drugstore.com website in addition to other websites operated by the company.
Walgreens President of E-commerce Sona Chawla said, “This is a very exciting time for the Walgreens e-commerce business as we expand and build our multi-channel capabilities for a $67 billion sales company with the best and most convenient store network in America. drugstore.com significantly accelerates our multi-channel initiatives by expanding our product selection for our customers, adding new capabilities through their well-known beauty and skin care websites, and joining their talented team with our strong and growing e-commerce organization. Over the past two years, we’ve established the infrastructure from which to grow our multi-channel products and services, and by combining drugstore.com’s capabilities we are well on our way to achieving our goal of becoming the most convenient multi-channel retailer for health and daily living needs.”
The transaction is consistent with Walgreens previously outlined capital allocation objectives, which include investing in strategic opportunities that reinforce the company’s core strategies and meet return requirements.
The company anticipates the transaction to be dilutive to earnings per share in the fourth quarter of fiscal 2011 by approximately 3 cents due to transaction-related one-time costs. Based on Walgreens intention to reinvest in the business, the company further anticipates the transaction to be dilutive to earnings per share by 3 to 4 cents in fiscal 2012, and 1 to 2 cents in fiscal 2013. Approximately 1 cent of the anticipated annual dilution per share is due to the estimated impact of incremental amortization based on Purchase Accounting assumptions. The company also anticipates an approximately $80 million present value cash flow benefit associated with the assumption of drugstore.com’s net operating losses and other tax related benefits.
drugstore.com will maintain separate branding of its websites after the transaction closes. Over the long term, Walgreens intends to enhance its multi-channel product assortment and the overall customer experience by leveraging drugstore.com’s websites.
drugstore.com was founded in 1998 with a mission to serve the health, beauty and wellness consumer with selection, convenience, information and personal service. The web store was launched on Feb. 24, 1999.
Credit Suisse Securities (USA) LLC acted as financial advisor to Walgreens in the transaction, and the law firms of Sidley Austin LLP and Weil Gotshal & Manges LLP served as legal counsel for Walgreens. Allen & Company LLC and Sonenshine Partners LLC acted as financial advisors to drugstore.com. The law firm of Wilson Sonsini Goodrich & Rosati, Professional Corporation served as legal counsel to drugstore.com.
ABOUT WALGREENS
Walgreens is the nation's largest drugstore chain with fiscal 2010 sales of $67 billion. The company operates 7,689 drugstores in all 50 states, the District of Columbia and Puerto Rico. Each day, Walgreens provides nearly 6 million customers the most convenient, multi-channel access to consumer goods and services and trusted, cost-effective pharmacy, health and wellness services and advice in communities across America. Walgreens scope of pharmacy services includes retail, specialty, infusion, medical facility and mail service, along with respiratory services. These services improve health outcomes and lower costs for payers including employers, managed care organizations, health systems, pharmacy benefit managers and the public sector. Take Care Health Systems is a Walgreens subsidiary that is the largest and most comprehensive manager of worksite health centers and in-store convenient care clinics, with more than 700 locations throughout the country.
QUANTUM BIT INDUCTION TECHNOLOGY (OTC: QBII)
"Up 100.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/QBII.php
Quantum Bit Induction Technology, Inc. is a Houston-based technology developer of Fusion, Wireless Power Transmission and Negative Group Delay, specifically how to render those technologies commercially viable. More information is available through the Company's website. Every stockholder or interested investor is encouraged to join our Shareholder's Group hosted by Yahoo! Groups. Important topics regarding this company are discussed through the Shareholder's Group. We encourage anyone interested in our work, company, history, or story to contact us. We welcome informed people as stockholders to share our future.
QBII News:
March 24 - Quantum Bit Induction Technology, Inc. Announces Commercial Plans for Fusion Technology
Quantum Bit Induction Technology, Inc. (OTC: QBII) proudly announces the development of their fusion technologies and the possible future applications of successful fusion devices. The most exciting application of fusion is that, with the proper mechanics, vehicles can travel many more miles per gallon of water than they do per gallon of gasoline. Developing the right kind of supporting machinery along with sustainable fusion devices could revolutionize the automobile industry, lessen dependence on foreign oil dramatically, and help minimize the impact we are having on our environment.
The Company is developing fusion energy technology. The proposed device is built from safe, inexpensive materials. The device converts hydrogen's nuclear potential energy from water into chemical potential energy (CPE). The CPE evolves as gaseous hydrogen and oxygen. The device promises to be easy to maintain, inexpensive to manufacture, fueled by water, and produce small amounts of inert gasses as exhaust. The hydrogen and oxygen produced can fuel an engine or fuel cell. The rate of net water consumption should be very small for the amount of energy produced.
Some recent, exciting developments in fusion research also prove that the Company's proposed plan of action is both logical and attainable are the following (Source: http://bit.ly/9urC0G)
1. Particles such as Helium-3, helium-4 and tritium, which are normally associated with hot fusion, are detected, though in significantly smaller quantities.
2. The transmutation of elements is found to occur on the surface of the metal in what is called the nuclear active environment.
3. It is a many-bodied physics, not the one-to-one interaction that models hot fusion.
But perhaps the most exciting development in electrofusion research is that, the reproducibility rate has climbed to 73%!
These findings, particularly the third one, have spurred scientists worldwide to continue the research on electrofusion with renewed vigor. All have aspirations of creating cleaner, more efficient energy for the globe. Quantum Bit Induction Technology, Inc. is taking these aspirations one step further by developing their technologies specifically to impact the automobile industry.
LIGHTPATH TECHNOLOGIES INCORPORATED (NASDAQ: LPTH)
"Up 45.99% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/LPTH.php
LightPath Technologies, Inc. manufactures optical products including precision molded aspheric optics, GRADIUM® glass products, proprietary collimator assemblies, laser components utilizing proprietary automation technology, higher-level assemblies and packing solutions. The Company's products are used in various markets, including industrial, medical, defense, test & measurement and telecommunications. LightPath has a strong patent portfolio that has been granted or licensed within these fields.
LPTH News:
March 24 - LightPath Technologies Develops Additional Direct-to-China Sales Channels
LightPath Technologies, Inc. (Nasdaq: LPTH), a global manufacturer, distributor and integrator of optical components and assemblies, announced that it has continued the expansion of its direct selling channels in China as part of its strategy to deliver high volumes of aspheric lenses and laser delivery systems to Asian manufacturers of optical equipment. Based on the adoption rate of aspheric lenses in multiple market segments in China, the market for aspheric lenses in Asia is expected to top $280 Million by the end of 2011. LightPath's molded aspheric lenses provide cost savings over traditional high volume spherical doublet and triplet lenses without sacrificing performance.
The Company has signed two new distributors to create comprehensive market coverage in China. LIENHE Corp and ETSC. Both of these distributors are based in China and provide LightPath with new, valuable selling channels into specific targeted market segments that capitalize on increased demand from Chinese manufacturers. The addition of these two distributors extends the company's sales channels in China to six distributors covering several different market segments and complements our direct sales force.
Jim Gaynor, CEO of LightPath, commented, "LightPath continues to successfully execute a growth strategy that addresses specific high volume target markets in Asia, Europe and the Americas. Our agreements with LIENHE and ETSC give LightPath significantly expanded exposure throughout China in the telecommunications and fiber optic markets. When combined with our recently expanded distribution agreement with AMS Technologies in Europe, and WPG in the Americas and South Asia, LightPath has dramatically broadened our sales channels around the world."
BRAZOS INTERNATIONAL EXPLORATION INC. (OTC: BRZL)
"Up 20.83% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/BRZL.php
Brazos International Exploration, Inc. engages in the acquisition and exploration of mineral properties in Canada. It primarily explores for uranium, gold, and silver ores. The company holds an option to acquire 100% interest in various mineral claims located in the Laurentides Region near Mont Laurier, Quebec. Brazos International Exploration, Inc. was founded in 2007 and is based in Brooklyn, New York.
BRZL News:
March 10 - Brazos International Exploration, Inc. Acquisition Almost Completed
Brazos International Exploration, Inc. (OTCBB: BRZL) announced the company has executed a Definitive Purchase and Sale Agreement to purchase Renfro Energy, LLC, a Dallas based independent oil company with significant oil and gas assets in Cameron Parish, Louisiana.
Closing is scheduled to occur on or before March 31, 2011, and shortly thereafter, an aggressive production enhancement and developmental drilling program will be initiated. With this acquisition, BRZL will acquire an oil producing property with potential development and exploration oil reserves exceeding one million barrels based on subsurface well control and Three Dimensional Seismic data.
Mr. James R. Renfro, currently Managing Member of Renfro Energy and slated to act as CEO of BRZL once the acquisition is complete, is enthusiastic about the company’s future. He states that if significant oil production and reserves are proven, access to the capital markets and third party financing sources will enable BRZL to create significant asset growth through exploitation, development, exploration, and acquisition.
Mr. Renfro has over 25 years’ experience in the oil and gas industry, has owned and managed several oil and gas companies including both private and public companies. Through his MBA from The University of Chicago and Engineering degree from the University of Kentucky, Mr. Renfro has worked for companies such as Exxon Company USA, Dean Witter Morgan Stanley, Shell Oil, and EnCap Investments. His blend of Wall Street and engineering experience has prepared him well to assume leadership of BRZL.
O2 SECURE WIRELESS INCORPORATED (OTC: OTOW)
"Up 30.25% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/OTOW.php
O2 Secure Wireless, Inc. engages in the design, deployment, and maintenance of fixed-location wireless internet services in the southeastern United States. It installs and manages local wireless Internet connection networks for multi domestic unit environments, such as multi family residence developments, apartment/condominium complexes, and educational institutions. The company also resells wireless components that it purchases on a wholesale basis from a manufacturer under a distribution agreement. In addition, it offers ‘O2 Anywhere’ mobile wireless Internet services to mobile professionals and customers; AirCards services for embedded devices or personal computers and laptops; and REACTOR, a product that extends the capabilities of AirCards by using them in concert with a Wi-Fi bridge, to broadcast wireless Internet to the computers already equipped for traditional Wi-Fi equipment. The company was founded in 2003 and is headquartered in Norcross, Georgia.
OTOW News:
March 24 - O2 Secure Wireless Announces One Hundred Million Dollar Letter of Intent to Establish a Wireless Network Infrastructure Throughout the Dominican Republic
Ark Capital Ventures Commences Formal Due Diligence
O2 Secure Wireless, Inc. (OTC: OTOW) announces that the Company has entered into the preliminary stage of securing funding to build and deliver Wireless Cellular, Internet, television and home phone service throughout the entire region of the Dominican Republic.
Ark Capital Ventures has expressed an interest in funding the Company up to 100 Million US dollars. They have initiated the due diligence process and are committed to putting forth the Company's best efforts to secure a commitment thereafter.
According to the terms of the Letter of Intent, Ark Capital Ventures has proposed its commitment of 100 Million US dollars to develop the project to saturate the Dominican Republic with State of the Art LTE technology contingent on the collateral agreement to include a first position lien on the licenses, equipment, and contracts. Further developments will be announced as they transpire.
It was recently announced that the Company's Chief Executive Officer, Val Kazia has returned his personal 500 Million Shares back into the Company's treasury.
By retiring the O2 Wireless shares, it's the Company's objective to substantially refine the Company's capitalization structure and position O2 Wireless' structure to more accurately represent the Company's commitment to becoming a key player in rural broadband communications; particularly in underserved territories, like the Dominican Republic.
3DICON CORPORATION (OTCBB: TDCP)
"Up 23.84% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/TDCP.php
3DIcon Corporation focuses on developing and marketing full-color, 360-degree person-to-person holographic technology. It intends to serve various industries, such as retail, manufacturing, entertainment, medical, healthcare, transportation, homeland security, and the military. The company, formerly known as First Keating Corporation, was incorporated in 1995 and is based in Tulsa, Oklahoma.
TDCP News:
March 23 - 3DIcon Signs Facilities Use Agreement With OSU-Tulsa's Helmerich Research Center
Advanced Materials and Nanoparticles Research Facility Now Available to 3DIcon
In a move to further advance its patented volumetric 3D projection technology, 3DIcon Corporation (OTCBB: TDCP) announced it has signed a Facilities Use Agreement with Oklahoma State University-Tulsa's (OSU-Tulsa) Helmerich Research Center. 3DIcon will utilize the world-class technology facilities at the Helmerich Research Center for creating the next generation image space for CSpace®, 3DIcon's patented 3D volumetric technology.
3DIcon will utilize the facility's highly specialized equipment for the creation of an image space with enhanced brightness and resolution. The new image space will be significantly larger than the current prototype, yet transportable enough for use at trade shows and in meetings with potential commercial partners.
The Helmerich Research Center, a $43 million facility, funded through a county, state and private sector partnership, houses laboratories to develop the next generation of composites and materials. The center's overarching focus is on material science with four strategic research and technology development thrusts including nanotechnology, biosciences, energy and aerospace. When fully staffed, the 123,000-square-foot building will house up to 25 faculty and researchers and 100 graduate students. The research center contains specialized laboratories, a clean room, an imaging suite, advanced information technology equipment and faculty offices. Since opening in 2008, OSU researchers have already been successful in securing grants from several entities including NASA, the National Science Foundation and Oklahoma Center for the Advancement of Science and Technology.
"We are excited to make available the world-class resources of our Helmerich Research Center for 3DIcon's continued technology development. Supporting Oklahoma companies like 3DIcon to help launch industries that are leading and transforming technologies is one of the missions of the Helmerich Research Center," said Dr. Kenneth Ede, assistant dean of OSU's College of Engineering, Architecture and Technology.
Dr. Brian Hoover, 3DIcon's Vice President of Technology Development, added, "OSU's Helmerich Research Center provides the state-of-the-art tools needed to develop the next generation image space for 3D display. This agreement will assist us in reaching our next milestone in technology development on our path to commercialization."
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