KGJI, VLNC, MDCE, SNLS, ROSV, ALXA
Our Stocks to Watch today include mPhase Technologies Inc. (OTCBB: XDSL), Kingold Jewelry Inc. (NASDAQ: KGJI), Valence Technology Inc. (NASDAQ: VLNC), Medical Care Technologies Inc. (OTCBB: MDCE), San Luis Trust Bank FSB (OTC: SNLS), Rostock Ventures Corp. (OTCBB: ROSV) and Alexza Pharmaceuticals Inc. (NASDAQ: ALXA).
MPHASE TECHNOLOGIES INCORPORATED (OTCBB: XDSL)
"Up 25.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/XDSL.php
Company Profile: http://bit.ly/MAKqDW
mPhase Technologies is introducing a revolutionary Smart Surface technology enabled by breakthroughs in nanotechnology, MEMS processing and microfluidics. Our Smart Surface technology has potential applications within drug delivery systems, lab-on-a-chip analytic systems, self-cleaning systems, liquid and chemical sensor systems, and filtration systems. mPhase has pioneered its first Smart Surface enabled product, the mPhase Smart NanoBattery. In addition to the Smart Surface technology, mPhase recently introduced its first product, the mPower Emergency Illuminator, an award-winning product designed by Porsche Design Studio and sold via the mPower website at www.mpowertech.com.
June 28 - mPhase Developing Launch Strategy for New Automotive and Marine Product Featuring Advanced Battery Technology
mPhase Technologies, Inc. (OTCBB: XDSL) said that it is developing its launch strategy for its new automotive and marine product with an experienced marketing agency and launch firm. The product featuring advanced battery technology has been developed in cooperation with a world-renowned automotive company known for its timeless and unmistakable design capabilities.
Although the company said it would unveil the new product in early spring it has decided to keep the product under wraps in order to protect the design from being reversed engineered in an attempt to have a first to market advantage.
The new product features a powerful product encased in small footprint with an extraordinary look for its product category.
KINGOLD JEWELRY INCORPORATED (NASDAQ: KGJI)
"Up 31.34% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/KGJI.php
Kingold Jewelry, Inc., centrally located in Wuhan City, China's fourth largest city, was founded in 2002 and today is one of China's leading designers and manufacturers of 24-karat gold jewelry, ornaments and investment-oriented products. The Company sells both directly to retailers as well as through major distributors across China. Kingold has received numerous industry awards and has been a member of the Shanghai Gold Exchange since 2003.
May 29 - Kingold Jewelry Signs Agreement with Shenzhen-based Wholesaler to Process Gold Jewelry Products
Company Expects to Process at Least 104 Kilograms (approximately 3,668 Ounces) a Month
Kingold Jewelry, Inc. (NASDAQ: KGJI), one of China's leading manufacturers and designers of high quality 24-karat gold jewelry, ornaments and investment-oriented products, today announced that it has entered into a gold-processing agreement with Shenzhen TongXin Jewelry Ltd. ("Shenzhen TongXin"), a large Shenzhen-based wholesaler of jewelry products. Shenzhen TongXin is a leading integrated company in jewelry and precious metal production, processing, wholesaling and refining in Mainland China since 1965. Shenzhen Tongxin is one of the "Famous TradeMarks of China", and its products have been distributed to more than 20 provinces, municipalities and autonomous regions, and have been exported to the United States, South Korea, Russia, France, Germany, Great Britain, Italy and other countries, with annual sales volume of over 40 tons.
Pursuant to the agreement, Kingold will exclusively process a variety of 24-karat gold jewelry products (rings, necklaces, bracelets) for Shenzhen TongXin beginning June 1, 2012 until May 31, 2013. Kingold expects to process at least 104 kilograms, or approximately 3668 ounces, of jewelry products per month until the expiration date of the agreement. Kingold's revenue from this agreement will be derived from its sales price of goods sold upon delivery to Shenzhen TongXin along with its service fees. While pricing is subject to change, based on a current spot price of gold on the date the agreement was executed of approximately US$1,568 per ounce, this would equate to revenues to Kingold of approximately US$5.8 million per month (excluding additional revenues from processing fees). The actual pricing of jewelry products produced under the agreement will be finalized at the time of sale. Pursuant to the terms of the agreement, Kingold holds the right to increase its processing fee if the then-current price of gold falls.
Mr. Zhi Hong Jia, Chairman and Chief Executive Officer of Kingold Jewelry stated, "This agreement is the culmination of a long-process in our discussions with Shenzhen TongXin. The company approached Kingold over two years ago, and began a thorough screening process in evaluating Kingold's processing capabilities, customer service, and quality of product. We are very confident that our quality and reputation within the industry helped greatly in securing this agreement. We are looking forward to working with Shenzhen TongXin, and as always are working towards broadening our base of major distributors and wholesalers."
VALENCE TECHNOLOGY INCORPORATED (NASD: VLNC)
"Up 10.93% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/VLNC.php
Valence Technology is a global leader in the development and manufacture of safe, long-life lithium iron magnesium phosphate advanced energy storage solutions and integrated command and control logic. Headquartered in Austin, Texas, Valence enables and powers some of the world's most innovative and environmentally friendly applications, ranging from commercial electric vehicles to industrial and marine equipment. Valence Technology today offers a proven technology and manufacturing infrastructure that delivers ISO-certified products and processes that are protected by an extensive global patent portfolio. In addition to the corporate headquarters in Texas, Valence Technology has its Research & Development Center in Nevada, its Europe/Asia Pacific Sales office in Northern Ireland, manufacturing facilities in China, and global fulfillment centers in North America and Europe.
June 20 - Valence Signs Supply Agreement With Healthcare Leader Enovate
Valence Technology, Inc. (NASDAQ: VLNC), a leading U.S.-based global manufacturer of advanced energy storage solutions, announced today that it has signed a two year supply agreement with EnovateIT, an international manufacturer and provider of mobile and wall-mounted clinical workstations for the healthcare environment. The supply agreement further validates the healthcare industry's acceptance of Valence's lithium phosphate batteries.
"Enovate is excited to be working with Valence Technology, a leader in the mobile power industry," said Steven Calef, Chief Financial Officer of Enovate. "Our internal tests have been impressive with quick charge rates and superior durability. Their engineering support has been exceptional, and we have great expectations of this key supplier relationship."
"Enovate's presence in the market is significant, as they offer comprehensive solutions to medical cart users around the world. Given their customers' stringent requirements for safety, reliability, and lifetime costs, we are extremely pleased to partner with Enovate as their lithium battery supplier," stated R. J. Adleman, Valence Technology's vice president of sales and marketing.
ABOUT ENOVATEIT, LLC
Headquartered in Canton, Michigan, Enovate is an international provider of mobile and wall mounted clinical workstation for the healthcare environment. Enovate provides multiple solutions for medication delivery, computerized physician order entry, clinical documentation, and electronic medical records and services.
MEDICAL CARE TECHNOLOGIES INCORPORATED (OTCBB: MDCE)
"Up 12.50% 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.
June 25 - Medical Care Technologies Inc. Announces Continued Results in Debt Reduction and Notes Re-Negotiation
Medical Care Technologies Inc. (OTCBB: MDCE), a growing children's healthcare service provider, is pleased to announce that it has been highly successful in reducing its debt obligations and anticipates further debt reductions over the next two quarters.
The Company has recently been able to extend, with similar or more favorable terms, approximately $155,000 in various notes payable. Furthermore, in the last 9 months, the Company was able to reduce by approximately $325,000 in outstanding debt obligations on its balance sheet through various negotiated settlements.
Medical Care Technologies Inc.'s President and CEO, Ning C. Wu, said, "Over the past year, we have taken a number of actions to reduce debt and improve liquidity. Our ability to renegotiate notes is a strong indication of our investors' belief in our growth plans and long term success. Opening our children's health centers and continued fiscal discipline are two main areas of focus for us in 2012. These improvements in our debt position will solidly position us for sustained investment in our business and improved profitability in the long run."
Management wishes to thank all of its shareholders for their continued support of the Company's endeavors in China.
SAN LUIS TRUST BANK FSB (OTC: SNLS)
"Up 41.18% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/SNLS.php
San Luis Trust Bank, FSB offers various financial products and services to businesses and individuals in California. Its deposit products include checking accounts, savings accounts, and certificates of deposits. The company also offers various real estate loans, such as home equity lines of credit, construction loans, land loans, manufactured home loans, bridge loans, residential first trust deed loans, and commercial real estate loans; business loans, including business lines of credit, unsecured lines of credit, and commercial real estate loans; and other lending products, such as auto loans, overdraft protection loans, and installment loans. In addition, it offers various other services comprising ATM, cashier's checks, night depository, notary, online banking, and overdraft checks services. The company was founded in 1999 and is based in San Luis Obispo, California.
No recent news for San Luis Trust Bank, FSB (OTC: SNLS).
ROSTOCK VENTURES CORPORATION (OTCBB: ROSV)
"Up 31.43% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/ROSV.php
Rostock Ventures Corp., a natural resource exploration and production company, engages in the exploration, acquisition, and development of mineral properties in the United States. The company holds 59 mineral claims in the Tintina Gold Belt in Yukon, Canada. It also has the rights to an exploration license for approximately 300 hectares located in Hants County, Canada. The company was founded in 2006 and is based in San Diego, California.
No recent news for Rostock Ventures Corp. (OTCBB: ROSV).
ALEXZA PHARMACEUTICALS INCORPORATED (NASDAQ: ALXA)
"Up 10.31% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/ALXA.php
Alexza Pharmaceuticals, Inc., a development stage company, focuses on the research, development, and commercialization of novel proprietary products for the acute treatment of central nervous system conditions. Its product candidates are based on a proprietary technology, the Staccato system that vaporizes an excipient-free drug to form a condensation aerosol that, when inhaled, allows for rapid systemic drug delivery. The company’s clinical-stage product candidates comprise AZ-004 (staccato loxapine), which is licensed to Biovail Laboratories International SRL for the acute treatment of agitation in patients with schizophrenia or bipolar disorder; AZ-007 (staccato zaleplon), which completed phase I status for the treatment of insomnia; and AZ-001 (staccato prochlorperazine) and AZ-104 (staccato loxapine, low-dose), phase II product candidates for the treatment of migraine headache. It also develops AZ-002 (Staccato alprazolam), which completed a phase 1 clinical trial in healthy subjects and a phase 2a proof-of-concept clinical trial in panic disorder patients for the treatment of panic attacks; and AZ-003 (Staccato fentanyl) that completed phase 1 clinical trial for the treatment of patients with acute pain, including patients with breakthrough cancer pain and postoperative patients with acute pain episodes. The company was formerly known as Alexza Molecular Delivery Corporation and changed its name to Alexza Pharmaceuticals, Inc. in July 2005. Alexza Pharmaceuticals, Inc. was founded in 2000 and is based in Mountain View, California.
June 22 - Alexza Announces Resubmission of ADASUVE™ NDA and Provides Regulatory Updates on US and EU Submissions
Alexza Pharmaceuticals, Inc. (NASDAQ: ALXA) announced that it has resubmitted its ADASUVE New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) in response to a Complete Response Letter (CRL) received in May 2012. ADASUVE is being developed for the acute treatment of agitation associated with schizophrenia or bipolar I disorder in adults. In the coming weeks, Alexza expects to hear from the FDA regarding the completeness of the resubmitted NDA, the classification of the resubmission (Class 1 or Class 2) and what the new Prescription Drug User Fee Act (PDUFA) goal date will be. Class 1 and Class 2 resubmissions have targeted review periods of 2 months and 6 months, respectively.
ADASUVE NDA Regulatory Update
In May 2012, Alexza received a CRL from the FDA. In the CRL, the FDA noted, "During a recent inspection of the Mountain View, CA manufacturing facility for this application, our field investigator conveyed deficiencies to the representative of the facility. Satisfactory resolution of these deficiencies is required before this application may be approved." Alexza has stated that it believed the deficiencies were medical device specific and readily addressable. Since the receipt of the CRL, Alexza has received further clarification of the specific deficiencies from the FDA and has made submissions directly to Center for Devices and Radiological Health (CDRH) Office of Compliance and the San Francisco District Office, intended to fully address the deficiencies.
The May 2012 CRL also contained comments on Alexza's draft product labeling. Alexza believes that there is substantial agreement between Alexza and the FDA on product labeling. In the ADASUVE NDA resubmission, Alexza has submitted updated draft labeling which is intended to be responsive to the comments provided by FDA in the May 2012 CRL.
There were no new clinical or safety issues identified and there were no other deficiencies outlined in the CRL. With respect to the ADASUVE Risk Evaluation and Mitigation Strategy (REMS), the CRL stated that discussions can continue on the proposed REMS after the response to the CRL has been submitted. Alexza believes that there is substantial agreement between Alexza and the FDA on the REMS.
ADASUVE MAA Regulatory Update
In March 2012, Alexza received the Committee for Medicinal Products for Human Use Consolidated List of Questions (Day 120 List of Questions) regarding Alexza's ADASUVE Marketing Authorization Application (MAA). The Day 120 List of Questions included major objections pertaining to the extrapolation of Phase 3 clinical efficacy data, aspects of the risk management plan, and the need to obtain an EU Good Manufacturing Practices certificate for Alexza's Mountain View, CA manufacturing facility and commercial manufacturing process.
In May 2012, Alexza and its corporate partner, Grupo Ferrer, met with the Rapporteur, Co-Rapporteur and European Medicines Agency (EMA) to further understand specifics of the major objections raised in the Day 120 List of Questions. Alexza believes it remains on schedule for the targeted early third quarter of 2012 submission of its responses (Day 121 Submission) to the EMA. Also in May, Alexza hosted an EU Pre-Approval Inspection (PAI) by the EMA. The inspection resulted in no findings the EMA would classify as Critical or Major findings.