SAPX, BSPM, MCLN, IMDS, MDCE, ASYI
Our Stocks to Watch today include Seven Arts Entertainment Inc. (NASDAQ: SAPX), Biostar Pharmaceuticals Inc. (NASDAQ: BSPM), MedClean Technologies Inc. (OTCBB: MCLN), Imaging Diagnostic Systems Inc. (OTCBB: IMDS), Medical Care Technologies Inc. (OTCBB: MDCE) and AISystems Inc. (OTCBB: ASYI).
SEVEN ARTS ENTERTAINMENT INCORPORATED (NASDAQ: SAPX)
"Up 4.67% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/SAPX.php
Seven Arts Entertainment Inc. is the successor to Seven Arts Pictures Plc., which was founded in 2002 as an independent motion picture production and distribution company engaged in the development, acquisition, financing, production, and licensing of theatrical motion pictures for exhibition in domestic (i.e., the United States and Canada) and foreign theatrical markets, and for subsequent worldwide release in other forms of media, including home video and pay and free television.
June 6 - Seven Arts Entertainment Inc. Announces Appointment of David Michery and Brett Pogany to Its Board of Directors
Seven Arts Entertainment Inc. (NASDAQ: SAPX) (the "Company" or "Seven Arts") announced the appointment of David Michery as a managing member of its Board of Directors, and Brett Pogany as a non-executive independent member of its Board of Directors.
The Board of Directors of Seven Arts shall be the existing seven members of the Board of Directors of the Company, plus the addition of Messrs. Michery and Pogany. Five members of Seven Arts' Board of Directors are independent directors as defined by NASDAQ.
David Michery has been appointed Chief Executive Officer of Seven Arts Music, which is the Company's new music division. Seven Arts Music intends to develop new talent and label-establishing artists in the genres of hip hop, R&B, pop, dance and rock. David Michery's prominent career includes the production of numerous platinum albums and an executive role as Head of Urban Music for All American Communication, D.B.A. Scotti Bros. Records, A&R for MCA Records and Zoo/BMG, and founder of Breakaway Entertainment and American Music Corporation.
Peter Hoffman, Seven Arts' Chief Executive Officer, stated: "We are extremely pleased to have David Michery, head of our music division, and Brett Pogany join our Board and provide their extensive knowledge of the music business and financial planning in guiding our growth."
Brett Pogany is an investment banker focused on advising middle market companies in the execution of corporate transactions and raising capital. He is currently a consultant with Hayden Advisors. He was previously a Director with Stifel Nicolaus Weisel, an independent investment bank headquartered in St. Louis, Missouri. He is a graduate of the Wharton and Engineering Schools at the University of Pennsylvania.
Mr. Pogany added: "Having reviewed the independent movie and music models, I believe there are tremendous opportunities for Seven Arts to become a leader for the creation of, distribution, and ownership of intellectual property. I look forward to being an active contributor and member of Seven Arts to help build value for the Company's employees, stockholders, and all of its stakeholders."
ABOUT SEVEN ARTS MUSIC
Seven Arts Music intends to develop new talent and label-establishing artists in the genres of hip hop, R&B, pop, dance and rock. David Michery's prominent career includes the production of numerous platinum albums and an executive role as Head of Urban Music for All American Communication, d/b/a Scotti Bros. Records, A&R for MCA Records and Zoo/BMG, and founder of Breakaway Entertainment and American Music Corporation.
BIOSTAR PHARMACEUTICALS INCORPORATED (NASDAQ: BSPM)
"Up 21.77% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/BSPM.php
Biostar Pharmaceuticals, Inc., through its wholly owned subsidiary and controlled affiliate in China, develops, manufactures and markets pharmaceutical and health supplement products for a variety of diseases and conditions. The Company's most popular product is its Xin Aoxing Oleanolic Acid Capsule, an over-the-counter ("OTC") medicine for chronic hepatitis B, a disease affecting approximately 10% of the Chinese population.
June 13 - Biostar Pharmaceuticals, Inc. and Fmmu to Jointly Conduct Phases I To III Clinical Trials for Viacom Drug
Biostar Pharmaceuticals, Inc. (NASDAQ: BSPM) ("Biostar" or "the Company"), a PRC-based manufacturer and marketer of pharmaceutical and health supplement products in China for a variety of diseases and conditions, today announced that it signed a Letter of Intent ("LOI") with The Fourth Military Medical University ("FMMU") to jointly conduct Phases I to III clinical trials for Viacom Pine II Cream ("Viacom") drug. The LOI has been submitted to China's military authorities for approval.
Viacom is a prescription drug developed by the First Affiliated Hospital of Dermatology of FMMU specifically for the needs of China's military and will be used to treat skin diseases such as bacterial and fungal infections, dermatitis and eczema. Viacom has passed all standard tests related to quality, stability, toxicology and efficiency. Phases I to III clinical trials must be conducted for a period of three years prior to receiving final approval from military authorities to start production.
FMMU is one of China's most prestigious military medical universities and research centers and its primary purpose is to advance China's military medicine. In January 2012, Biostar was one of nine PRC pharmaceutical companies selected to cooperate with FMMU in the fields of research and product development.
According to the terms of the LOI, FMMU will be responsible for:
* Submitting applications and receiving approvals to commence clinical trials; coordinating with China's military authorities during clinical trials and securing all needed approvals to continue Phases I to III of these clinical trials for the next three years at FMMU's facilities; securing final production approvals by October 2015; and providing the technology to ensure the quality and effectiveness of the product.
Biostar will be responsible for:
* Coordinating with FMMU to complete the clinical trials before October 2015; bearing all costs of clinical trials and approvals; completing the construction of the production line and obtaining the GMP certification on time; and manufacturing the drug using the technology provided by FMMU.
Ronghua Wang, Biostar's Chief Executive Officer and Chairman, commented, "Following the initial clinical research, Viacom has demonstrated encouraging results for the treatment of several skin diseases such as bacterial and fungal infections, dermatitis and eczema which are common among members of the PRC armed forces. Additionally, these types of skin diseases affect a large portion of China's population and, if not treated properly, could result in severe health complications. Once Viacom receives approval from the military authorities to be sold in military hospitals, we will apply to receive SFDA's approval to sell it in health care centers and hospitals all over the country."
Mr. Wang continued, "This LOI follows the Cooperation Agreement we signed in January 2012, according to which Biostar was selected to work with FMMU's staff to share resources and ideas and to carry out Phases I to IV of clinical trials for products which, when approved, will be sold directly to China's military and to the three hospitals managed by FMMU. We are targeting additional LOIs with FMMU to conduct clinical trials for new products, which will help us become a production base for manufacturing drugs specifically for the needs of China's military."
MEDCLEAN TECHNOLOGIES INCORPORATED (OTCBB: MCLN)
"Up 100.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/MCLN.php
MedClean Technologies, Inc. is a provider of innovative technology and services for the treatment and disposal of regulated medical waste. MedClean's flagship MedClean® Series systems are fully integrated, turnkey technology solutions that enable healthcare providers and medical waste haulers to safely, efficiently, and cost-effectively convert bio-hazardous regulated medical waste into sterile, unrecognizable material suitable for disposal as municipal solid waste. MedClean was founded in 1997 with corporate headquarters, research and development and distribution facilities now located in Bethlehem, Pennsylvania.
May 15 - MedClean Technologies Announces 2011 Results
Company Increases 2011 Total Revenue 91% versus 2010
Company Schedules Shareholder Conference Call for May 21
MedClean Technologies, Inc. (OTCBB: MCLN) announced financial results for the 12-month period ended December 31, 2011.
2011 Year-end Operational Highlights
* Total revenue for 2011 increased 91% to $1,717,721 compared to $896,993 for 2010.
* Gross profit for 2011 increased 54% to $725,752 compared with gross profit of $470,295 for 2010.
* Net cash used in operating activities decreased to $1,1067,913 in 2011 from $1,882,435 in 2010.
2011 Fourth Quarter Operational Highlights
* Fourth quarter revenue, including system sales of $115,000 in the quarter, was $330,594.
* Maintenance Revenue of $59,423 held close to the quarterly projected amount of $62,000.
* Corrective Maintenance of $103,444 exceeded the quarterly projected amount of $74,000 and compares to $93,820 in the fourth quarter of 2010.
* MedClean's new ecommerce line of business (MedClean GPO), which was launched in the third quarter 2011, generated $42,205 for the full year 2011 and the acceleration initially expected during the first half of 2012 is now expected to start in the third quarter due to delays in launching new products. The Company continues to plan on introducing other mainstream consumable products such as red bags, autoclave bags boxes during 2012
* Consumables for MedClean Systems (cart liners, deodorizer, supplies, etc.,) generated revenue of $28,963 in the fourth quarter, below the Company's targeted run rate of $34,500 per quarter. Fluctuations are expected to occur quarterly in the future based upon customer needs.
"Year-over-year revenue results were extremely positive and we managed to continue to reduce our operational expenses while growing our revenue," stated David Laky, President & CEO of MedClean Technologies, Inc. "Our overall business plan has been well received by partners and peers in the market. The Company will continue to focus on building operational integrity through improving recurring revenue streams, implementing the localized processing center model, and managing operating expenses. We have also begun the process of investigating new business opportunities through tighter integration with partners and providers of industry related products and services that would benefit from our industry expertise and connectivity developed via our distributor and IMWTA hauler network. While I commend our team for the hard work and strong improvements in 2011, we all understand that we have to compound these improvements to scale our business model with the first goal of profitability while also expanding our addressable market with the new opportunities outside of one-time system sales."
Mr. Laky added, "We will be hosting a conference call with investors on Monday, May 21, 2012 at 1:30 p.m. The call will include an overview of our 2011 financial results and will include a question and answer session for shareholders. We feel this type of communication will provide the best forum to provide additional information on recent developments."
Full Year Financial Results
Total revenue for 2011 was $1,717,721 compared with $896,993 for 2010, representing a revenue increase of $820,729 or 91%. The net gain in revenue was attributed to an increase in MedClean System sales of $1,010,200, and a decrease of $(189,472) in the sale of consumables, component parts, and service contracts.
Revenues from MedClean System Sales for 2011 were $1,010,200 compared to $-0- in 2010.
Revenues derived from the sale of consumables, component parts and service contracts decreased to $707,521 compared to $896,993 in the prior year. The revenue was attributable to orders for goods and services from the Company's existing installed base of hospitals that have previously purchased a MedClean System. Service revenues decline in direct proportion to a reduction in corrective maintenance services work. Service billings will continue to fluctuate period to period based upon equipment service requirements.
The gross profit for 2011 was $725,752 (42.3% of total revenue) compared with a gross profit in 2010 of $470,295 (52.5% of total revenue). The decrease in gross profit margin as compared to the prior year can be attributed to lower profit margins on system sales. The components of costs of revenues for system sales include direct materials, depreciation, shipping and rigging costs, and contract labor.
Total operating expenses for 2011 were $3,579,315 compared with $4,787,192 for 2010, a decrease of $1,207,877 or 25.3%. In 2011, the Company incurred a $1,204,799 non-cash charge to operations for the fair value of vesting options and warrants as compared to $2,060,985 in 2010 and $0 in 2011 for stock based compensation as compared to $227,640 in 2010; a net decrease of $1,083,826, while other operating costs were reduced by $124,051 in 2011 versus 2010.
Net loss for 2011 was $(4,376,105) compared to a net loss in 2010 of $(4,417,550).
IMAGING DIAGNOSTIC SYSTEMS (OTCBB: IMDS)
"Up 25.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/IMDS.php
Imaging Diagnostic Systems, Inc. has developed a revolutionary new imaging device to aid in the detection and management of breast cancer. The CTLM® system is a breast imaging system that utilizes patented continuous wave laser technology and computer algorithms to create 3-D images of the breast. The procedure is non-invasive, painless, and does not expose the patient to ionizing radiation or painful breast compression. CT Laser Mammography (CTLM®) is designed to be used in conjunction with mammography. It reveals information about blood distribution in the breast and shows the process of angiogenesis, which usually accompanies tumor growth. CTLM system has received international certifications and licenses from the European CE mark, CMDCAS Canadian Health screening, China SFDA, India, UL, and ISO 13485. The Company is seeking FDA approval through the Premarket approval process.
May 22 - Imaging Diagnostic's Non-Invasive CTLM® Laser Breast Imaging Device Will Soon Be Available to Women in Kuwait
Imaging Diagnostic Systems, Inc. (OTCBB: IMDS), a pioneer in laser breast imaging, announced that it has signed a distribution agreement with Mareen Group to market and sell its Computed Tomography Laser Mammography (CTLM®) System in Kuwait.
"Mareen Group is honored to present the CTLM® to the women of Kuwait. We are eager to support the imaging needs of patients through this dignified and innovative laser breast imaging modality," commented Ahmad Abdulrahman, General Manager of Mareen Group.
Mareen Group is a Medical & Pharmaceutical distribution company well established and based in Kuwait. They have been in operation since 1998, proudly providing various medical and healthcare institutions within Kuwait and the surrounding areas with advanced medical equipment and pharmaceuticals from across the globe. The philosophy of Mareen Group has always been to build close ties with their customers by supporting their every need with prompt professional service and support.
Imaging Diagnostic's CEO, Linda Grable, states, "IDSI is delighted to assign Mareen Group, a well established medical company in Kuwait, as our new distributor. The women in Kuwait will hopefully benefit from CTLM®'s unique and discrete breast imaging process to aid in the diagnosis and management of breast abnormalities. We are enthusiastic to work with Mareen Group to make the CTLM®, a non-invasive alternative, accessible to women in Kuwait."
MEDICAL CARE TECHNOLOGIES INCORPORATED (OTCBB: MDCE)
"Up 20.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/MDCE.php
Medical Care Technologies Inc. is traded under the symbol "MDCE" on the OTCBB and is headquartered in Beijing, China. MDCE, through joint ventures or Chinese subsidiaries, develops a network of children's health facilities in the larger urban areas throughout China. Services are geared towards the advancing economic middle-class and upper class Chinese families. Specializing in the care of children between the ages of 3 to 16, MDCE's role is to enhance the overall well-being of the family and community and to expand its pediatric services to include preventative health and wellness education. MDCE, through its children's health facilities, will also distribute a diverse range of industry-leading pharmaceutical and nutraceutical product lines. MDCE's main mission is simple – to become a healthcare service provider leader in children's health.
May 25 - Medical Care Technologies Inc. Receives $10 Million Reserve Equity Financing From AGS Capital Group, LLC
Medical Care Technologies Inc. Announces Appointment of Senior Communications Advisor
Medical Care Technologies Inc. (OTCBB: MDCE), a growing children's healthcare service provider, is pleased to announce the recent appointment of Peter Verner as Senior Communications Advisor. The position was created in order to improve the Company's public relations initiatives, and as a means of ensuring better communication with the shareholders, media (North America and China), and the Company.
Peter is an influential, veteran journalist and spent 20 years as an award-winning Producer with CBC Television, News & Current Affairs. He has worked as Director of Communications in Canadian politics since 2004 and, in 2006, founded The Edge Communications, a public relations consulting firm providing communications strategies for numerous start-up and mid-size organizations. Peter graduated in 1971 from Sandhurst, Royal Military Academy.
"With Peter's wide experience as a communicator and his deep interest in China and its people, we feel that he will make a valuable contribution to our efforts in relaying timely information to our shareholders at a very exciting time in the Company's development," said Luis Kuo, Chief Operating Officer of Medical Care Technologies Inc.
Ning Wu, Chief Executive Officer of Medical Care Technologies Inc., had this to say: "As we near the construction and opening of our first children's health center in China, it is one of Management's goals for 2012 to create better information flow to our shareholders and between our employees and consultants in North America and China. Our objective in hiring Peter is to ensure that our entire Team is aligned with communication priorities amongst ourselves and, more importantly, our shareholders."
The Company also wishes to address the recent fifth letter identifier "E" which was added to its stock symbol on May 22, 2012 as a result of certifications required by the U.S. Securities and Exchange Commission being inadvertently omitted from its recent Form 10-Q filing. Management reacted quickly and took appropriate steps once the certification omission problem was identified and filed an amendment on Form 10-Q/A on May 24, 2012. "Once identified, we were ready to remedy our filing delinquency," stated Ning Wu, "We thank our shareholders for their patience and understanding and our Team is here to serve your needs and to focus on building shareholder value."
AISYSTEMS INCORPORATED (OTCBB: ASYI)
"Up 100.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/ASYI.php
AISystems has developed a unique, proprietary business platform software system for the airline industry called jetEngine™, which is comprised of systems and mathematical algorithms capable of generating significant profitability improvements through strategic business planning capabilities, resource scheduling, revenue management and integrated operations.
No recent news for AISystems, Inc. (OTCBB: ASYI).