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GTIM, IBCP, WSCEE, HOMS, CGFIA, ICPA
Our Stocks to Watch today include Good Times Restaurants Inc. (NASDAQ: GTIM), Independent Bank Corp. (NASDAQ: IBCP), Wescorp Energy Inc. (OTCBB: WSCEE), Homeland Security Capital Corp. (OTCBB: HOMS), Colorado Goldfields Inc. (OTCBB: CGFIA) and IC Places Inc. (OTCBB: ICPA).
GOOD TIMES RESTAURANTS INCORPORATED (NASDAQ: GTIM)
"Up 72.24% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/GTIM.php
Good Times Restaurants, Inc., through its subsidiary, Good Times Drive Thru, Inc., engages in developing, owning, operating, and franchising hamburger-oriented drive-through restaurants under the Good Times Burgers & Frozen Custard name primarily in Colorado. It also has franchised restaurants in Idaho, North Dakota, and Wyoming. As of December 29, 2009, the company had 51 restaurants. Good Times Restaurants, Inc. was founded in 1987 and is headquartered in Golden, Colorado.
GTIM News:
April 17 - The National Restaurant Association's RPI Records Fourth Consecutive Month Above 100
The Paragon Report Provides Stock Research on Chipotle Mexican Grill and Good Times Restaurants
The Restaurant Industry has started to heat up. The National Restaurant Association's Restaurant Performance Index (RPI), which tracks the health of and outlook for the U.S. Restaurant Industry, was at 101.9 in February. This makes it the fourth consecutive month the RPI has been over 100. The Paragon Report examines investing opportunities in the Restaurants Industry and provides equity research on Chipotle Mexican Grill, Inc. (NYSE: CMG) and Good Times Restaurants Inc. (NASDAQ: GTIM). Access to full reports can be found at:
www.ParagonReport.com/CMG
www.ParagonReport.com/GTIM
"Buoyed by continued gains in national employment and an extra day in February as a result of Leap Year, a solid majority of restaurant operators reported positive same-store sales and traffic results," said Hudson Riehle, senior vice president of the Research and Knowledge Group for the National Restaurant Association. "In addition, restaurant operators are bullish about sales growth in the months ahead, while their outlook for the economy remains cautiously optimistic."
"Perhaps the most positive indicator is the optimistic outlook for staffing levels in the months ahead," Riehle added. "Only seven percent of restaurant operators expect to reduce staffing levels in the next six months, the lowest level in nearly eight years."
Paragon Report releases regular market updates on the gold industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.ParagonReport.com and get exclusive access to our numerous stock reports and industry newsletters.
Chipotle Mexican Grill, Inc., the national chain of burrito restaurants known for serving Food With Integrity, recently announced that it will host a conference call to discuss first quarter 2012 financial results on Thursday, April 19, 2012 at 4:30 PM Eastern time. A press release with first quarter 2012 financial results will be issued at approximately 4:00 PM Eastern time that same day.
Good Times Restaurants Inc. recently announced that same store sales for March increased 7.9% on top of last year's 8.6% increase and same store sales increased 7.3% the for its second fiscal quarter ended March 31. March's increase was the twentieth consecutive month of same store sales increases for the Company.
INDEPENDENT BANK CORPORATION (NASDAQ: IBCP)
"Up 31.37% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/IBCP.php
Independent Bank Corporation, a bank holding company, provides commercial banking services primarily in Michigan. The company offers various deposit products, including time deposits, checking and savings accounts, and NOW accounts. It also provides commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services. In addition, the company offers title insurance services, and investment and insurance services. Further, it provides payment plans to consumers to purchase extended automobile warranties. As of December 31, 2007, the company operated approximately 106 branches, 3 drive-thru facilities, and 9 loan production offices. Independent Bank Corporation was founded in 1864 and is based in Ionia, Michigan.
IBCP News:
April 23 - Independent Bank Corporation Reports 2012 First Quarter Results
Independent Bank Corporation (NASDAQ: IBCP) reported first quarter 2012 net income applicable to common stock of $2.4 million, or $0.07 per diluted share, versus a net loss applicable to common stock of $8.4 million, or $1.06 per share, in the prior-year period.
The first quarter of 2012 was highlighted by:
* A return to profitability and significant improvement in operating results due primarily to declines in the provision for loan losses and in non-interest expenses and an increase in non-interest income that were partially offset by a decline in net interest income.
* Additional improvement in asset quality with non-performing assets down 12% since the end of 2011.
* A 52% decline in the provision for loan losses.
* Strong mortgage-banking results with a 99% increase in net gains on mortgage loans.
* Additional growth in core deposits which increased 5% since the end of 2011.
* Regulatory capital ratios that increased and remain above minimum requirements for "well-capitalized" institutions.
Michael M. Magee, the Chief Executive Officer of Independent Bank Corporation, commented: "We are very pleased to report a return to profitability in the first quarter of 2012 as well as further progress in improving asset quality, as evidenced by a reduction in our non-performing loans, loan net charge-offs and the provision for loan losses as compared to the year ago quarter. We remain focused on building consistent profitability and we are optimistic that the improvements we have observed in the Michigan economy will help support our efforts. Net interest income continued to decline in the first quarter, which partially offset some of our improvements in overall operating results. This decline in net interest income has been principally driven by our maintenance of high levels of liquidity and a reduction in total loans in order to preserve our regulatory capital ratios. Given our improved operating results and asset quality metrics, we have now also focused our efforts at growing our loan portfolio and stemming the decline in net interest income. Our capital initiatives remain centered on strategies that preserve the potential future use of our net deferred tax asset, which totaled approximately $74.9 million at Mar. 31, 2012 and on which we have established a full valuation allowance. The potential future recovery of this valuation allowance represents a source of capital that would be of significant value to our shareholders."
For the third year in a row, Independent Bank has received a five-star rating for customer service in a survey conducted by one of the nation's leading market research firms and in 2012 for the first time, was named in this survey as the top performing bank for customer satisfaction among banks in Michigan and four nearby states. The ratings measured customer satisfaction based on a survey of retail banking consumers in Jan. and Feb. 2012 to assess the retail banking experience based on six factors: account activities; account information; facilities; fees; problem resolution; and product offerings.
"I am very proud of our associates for building on our success from the prior two years. It is gratifying to know our efforts to deliver exceptional service are being recognized by our customers," said CEO Magee.
Operating Results
The Company's net interest income totaled $22.1 million during the first quarter of 2012, a decrease of $2.4 million or 9.6% from the year-ago period, and a decrease of $0.9 million, or 3.7% from the fourth quarter of 2011. The Company's net interest income as a percent of average interest-earning assets (the "net interest margin") was 4.14% during the first quarter of 2012 compared to 4.34% in the year ago period, and 4.40% in the fourth quarter of 2011. The year-over-year decrease in net interest income is primarily due to declines in both the net interest margin and in average interest-earning assets. The decline in the net interest margin is principally due to a change in asset mix, as higher yielding loans decreased and lower yielding short-term investments increased. This change in asset mix principally reflects the Company's recent strategy of maintaining significantly higher balances of overnight investments to enhance liquidity. Average interest-earning assets were $2.14 billion in the first quarter of 2012 compared to $2.27 billion in the year ago quarter and $2.08 billion in the fourth quarter of 2011. This year-over-year decline reflects the Company's efforts to preserve its regulatory capital ratios by reducing total assets.
Non-interest income totaled $14.6 million in the first quarter of 2012, compared to $12.7 million in the year-ago period, representing an increase of $1.9 million, or 14.7%. An increase in net gains on mortgage loans to $3.9 million in the first quarter of 2012 from $1.9 million in the year ago quarter was the primary reason for the overall increase in non-interest income. During the first quarter of 2012, net gains on mortgage loans benefited from fair value adjustments on loans held for sale and commitments to originate mortgage loans.
Non-interest expense totaled $28.0 million in the first quarter of 2012, compared to $33.9 million in the year-ago period representing a decrease of $5.8 million, or 17.2%. Several categories of non-interest expenses declined, including: loan and collection expenses (down $1.0 million), occupancy costs (down $0.4 million), net losses on other real estate ("ORE") and repossessed assets (down $0.4 million), FDIC deposit insurance (down $0.4 million), credit card and bank service fees (down $0.4 million), vehicle service contract counterparty contingencies (down $1.9 million), and other non-interest expense (down $1.4 million). The decline in other non-interest expense principally reflects the reversal of a previously established accrual at Mepco Finance Corporation that was determined to no longer be necessary. The Company continues to focus on reducing and containing operating expenses.
Asset Quality
Commenting on asset quality, CEO Magee added: "Our provision for loan losses decreased by $5.6 million, or 52.1%, in the first quarter of 2012 compared to the year-ago level, primarily reflecting a reduction in non-performing loans, a lower level of watch credits, reduced loan net charge-offs, and an overall decline in total loan balances. Since the start of this year, non-performing loans and commercial loan watch credits have declined by approximately 14% and 9%, respectively. In addition, thirty- to eighty-nine day delinquency rates at Mar. 31, 2012 declined to 0.81% for commercial loans and 1.27% for mortgage and consumer loans. These are at or near to the lowest levels that we have seen in several years. Nonetheless, we continue to focus on further improving asset quality and reducing credit related costs."
WESCORP ENERGY INCORPORATED (OTCBB: WSCEE)
"Up 100.00% in morning trading"
Detailed Quote: www.otcpicks.com/quotes/WSCEE.php
Wescorp Energy Inc. operates as a water technology company. The company holds three technologies that include the H2Omaxx, an oil-water separation technology; the HCXT oil-solids technology; and a desalinization technology. It focuses on commercializing the H2Omaxx, which reduces hydrocarbon contaminated water treatment and disposal costs for oil and gas producers; and has applications in the marine and other hydrocarbon industries. The company was formerly known as CTI Diversified Holdings, Inc. and changed its name to Wescorp Energy Inc. in December 2003. Wescorp Energy Inc. was founded in 1998 and is headquartered in Calgary, Canada.
WSCEE News:
April 21 - Investment Report On Univec Inc.
A Reuters Investment Profile has been released on Wescorp Energy Inc. (OTCBB: WSCEE). According to Reuters, “This report is essential reading for any serious investor, providing comprehensive financial information on a company's performance, position and cash flows over the past 3 years, including interim data.” To view the report, visit http://bit.ly/ImIJJu.
HOMELAND SECURITY CAPITAL CORPORATION (OTCBB: HOMS)
"Up 30.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/HOMS.php
Homeland Security Capital Corporation is a company engaged in the strategic acquisition, development, and consolidation of homeland security-related businesses, within the fragmented homeland security industry. The company is focused on creating long-term value by taking controlling interest and developing its subsidiary companies through superior operations and management. The company is headed by former Congressman C. Thomas McMillen, who served three consecutive terms in the U.S. House of Representatives from the 4th Congressional District of Maryland. HOMS operates businesses that provide homeland security products and services solutions, growing organically and by acquisitions. The company is targeting emerging companies that are generating revenues but face challenges in scaling their businesses to capitalize on homeland security opportunities.
HOMS News:
April 18 - Homeland Security Capital Corporation Unveils National Property Appraisal Subsidiary
Timios Appraisal Management, Inc. to Enable Lenders, Consumers and Servicers to Utilize Its Advanced Technologies to Deliver Residential Appraisal Products in All 50 States
Homeland Security Capital Corporation (OTCBB: HOMS), a national provider of real estate services to banks, financial institutions and mortgage lenders announced today the rollout of a national property appraisal platform focused on the delivery of residential appraisal products, Timios Appraisal Management, Inc. (TAM). TAM’s appraisal platform, headquartered in Pittsburgh, Pennsylvania, offers a centralized and customizable solution for clients with strict adherence to compliance requirements including Dodd Frank, Uniform Standards for Professional Appraisal Practice (USPAP), Financial Institution Reform, Recovery, and Enforcement Act (FIRREA), Fannie Mae, Freddie Mac, and Federal Housing Administration (FHA) guidelines.
C. Thomas McMillen, CEO of Homeland Security Capital Corporation commented, “We believe TAM, with over 50 years of combined appraisal management experience coupled with a state of the art technology platform and rigorous compliance will provide valuable and much needed appraisal services for our clients.”
Trevor Stoffer, CEO of TAM commented, “I am excited to offer valuation products through the introduction of TAM and am equally pleased to introduce Mr. Corey Hulbert as the Senior Vice President of Operations. The Timios management team and I worked extensively alongside Mr. Hulbert in the past, and can readily confirm his dedication and vast experience within the industry.”
Mr. Hulbert joined TAM in November 2011 and has assisted in developing and growing the Company’s property appraisal subsidiary. Mr. Hulbert has extensive experience in the real estate services industry and has previously developed very successful appraisal operations for various companies. Mr. Hulbert spent several years as the Senior Vice President of Appraisal Operations at one of the nation’s largest appraisal providers. He managed the appraisal account for one of the top three mortgage companies in the United States and was responsible for the creation of the company’s wholesale division.
Corey Hulbert, Senior Vice President of Operations for TAM added, “We have developed a high quality property appraisal platform able to stand on its own, but also complement and contribute to the overall services provided by the Company.”
The Company consolidates the results of its 80% owned subsidiary Fiducia Real Estate Services, Inc., which owns 100% of Timios, Inc., Timios Appraisal Management, Inc. and Default Servicing USA, Inc.
COLORADO GOLDFIELDS INCORPORATED (OTCBB: CGFIA)
"Up 100.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/CGFIA.php
Colorado Goldfields Inc. is a Denver-based junior exploration and mining company primarily exploring for gold and silver. Our seasoned management team targets historic gold camps with strong potential for multiple deposit discoveries. Currently, our business model in Colorado provides an outstanding combination of former producing properties with excellent exploration and production potential and a currently inactive, modern, up to 700 ton per day capacity mill facility to allow for an attractive short-term production time frame. We expect that this strategic plan will allow Colorado Goldfields to reach its goal of profitability, potentially within the next 18 months.
CGFIA News:
No recent news for Colorado Goldfields Inc. (OTCBB: CGFIA).
IC PLACES INCORPORATED (OTC: ICPA)
"Up 11.67% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/ICPA.php
IC Places owns and operates 350 city news and entertainment websites. Each IC Places city website offers a virtual keyhole view of life in each community. Every unique aspect of a city's social, business, and cultural life is available right at each city's IC Places homepage. IC Places provides the entire community a place to talk, do business and get connected. Businesses are given amazing tools to tell their stories in the best way possible and visitors get unfettered access to businesses, events and people in each city.
ICPA News:
April 20 - Shark Tank Champion Partners With IC Places to Take Visitors Beyond the Velvet Ropes
IC Places, Inc. (OTCBB: ICPA) announces it has formed a strategic partnership with EzVip.com to offer www.icplaces.com visitors direct access to the hottest night clubs and best events around world.
EzVip.com gained National attention when Founder and CEO, Alashe Nelson, pitched his start up company on this year's season premiere of ABC's Shark Tank.
The show features entrepreneurs Mark Cuban (Dallas Mavericks owner), Daymond John (founder of FUBU clothing line), Kevin O'Leary (educational software), Barbara Corcoran (real estate) and Robert Hejavec (technology security), who try to outbid each other to invest their own money in unique businesses.
During the show, Nelson received a funding offer from Hejavec and O'Leary, who teamed up, but in the end accepted an offer from Cuban and John.
"I met Al during his recent trip to LA where he was inking deals for his West Coast expansion. We both saw the instant synergy," said IC Places President, Steve Samblis. "Teaming up with Mark Cuban and Daymond John, Al has created the OpenTable (OPEN - OpenTable Inc (NASDAQ)) of night clubs. "We have Night Life sections in all of our 350 city websites. The partnership with EzVip.com will allow us to generate significant revenues from those sections."
Under the agreement EzVip.com will pay IC Places a percentage of each booking it generates. IC Places Night Life sections will offer direct links to reserve tables at the best clubs in each city using the EzVip.com engine.
The two companies will grow together as EzVip.com expands into new cities.
"We are very excited to be working with IC Places. Having IC Places as a partner in our expansion gives us pre-positioned placement in cities as we grow," said Alashe Nelson, CEO of EzVip.com. "We will be able to tap into IC Places current visitor base and expand our reach though their sites. It also gives IC Places the ability to monetize site visitors in a new way."
ABOUT EZVIP.COM
EzVip.com provides access and convenience to their customers by allowing them to pre-purchase their night out to the best events in the world directly through their computer or mobile device. The company began with nightlife events, and has expanded into other notable experiences. The company prides itself in only partnering with the best organizations in order to give their customers an experience they would not be able to obtain elsewhere.
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