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XDSL
MDMC, VIBE, IVAN, IMDS, VSPC, ALXA
Our Stocks to Watch today include mPhase Technologies Inc. (OTCBB: XDSL), Marine Drive Mobile Corp. (OTCBB: MDMC), Vidable Inc. (OTC: VIBE), Ivanhoe Energy Inc. (NASDAQ: IVAN), Imaging Diagnostic Systems Inc. (OTCBB: IMDS), VIASPACE Inc. (OTCBB: VSPC) and Alexza Pharmaceuticals Inc. (NASDAQ: ALXA).
FEATURED COMPANY
MPHASE TECHNOLOGIES INCORPORATED (OTCBB: XDSL)
"Up 11.11% 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.
XDSL News:
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.
MARINE DRIVE MOBILE CORPORATION (OTCBB: MDMC)
"Up 93.55% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/MDMC.php
Marine Drive Mobile Corp. engages in the development of transactional mobile commerce applications and services. The company’s technology platform matches merchants and consumers with the right products and services at the right time through electronic coupons. Its principal product includes eTeeoff.com, an e-couponing Website for golf industry merchants to create deals and offer their own electronic coupons. The company was formerly known as Sona Resources, Inc. and changed its name to Marine Drive Mobile Corp. in July 2011. Marine Drive Mobile Corp. was founded in 2007 and is headquartered in San Francisco, California.
MDMC News:
No recent news for Marine Drive Mobile Corp. (OTCBB: MDMC).
VIDABLE INCORPORATED (OTC: VIBE)
"Up 100.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/VIBE.php
Vidable, Inc. is a development stage video based e-commerce marketplace company which intends to connect merchants and customers via streaming video, mobile technology and social media. Vidable is establishing a business model that will simplify the e-commerce marketplace that connects buyers and sellers. The company intends to operate a next-generation website that incorporates streaming video and mobile technology and uses various best- of-breed features. Vidable.com will be a centralized Internet portal that allows consumers to find information about various products and services through businesses and consumer posted videos on a local basis.
VIBE News:
July 2 - Vidable, Inc. To Deploy a Licensing Program to Penetrate the Growing US Online Advertising Market
Vidable, Inc. (OTC: VIBE) (the "Company"), an online video classified company, announced their plan to sell Vidable licenses to allow third parties to sell Vidable digital media services under the Vidable brand for a monthly fee. This new service furthers our goal to penetrate the U.S. online advertising market, which, according emarketer.com's January 2012 forecast, is expected to reach $39.5 billion in 2012.
President Lino Luciani stated: "According to a recent BIA/Kelsey study, small and medium businesses (SMBs) surveyed reported they plan to allocate 26 percent of their advertising budgets to digital/online media over the next 12 months. However, we have found they prefer to do it through various media buying agencies. We have designed our licensing program to encourage third parties, such as videographers, to license our services allowing them to create online videos and set up Vidable channels for local businesses. We believe this will enhance the results for consumers looking to buy on Vidable.com."
IVANHOE ENERGY INCORPORATED (NASDAQ: IVAN)
"Up 40.46% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/IVAN.php
Ivanhoe Energy is an independent international heavy oil development and production company focused on pursuing long-term growth in its reserves and production using advanced technologies, including its proprietary heavy oil upgrading process (HTLTM). Core operations are in Canada, United States, Ecuador, Mongolia, and China, with business development opportunities worldwide.
IVAN News:
July 2 - Ivanhoe Energy Responds to Recent Trading Activity
Ivanhoe Energy Inc. (NASDAQ: IVAN) announced that it knows of no reason for the decrease in the Company's share price late in the trading session on June 29, 2012. There have been no material adverse developments or circumstances with respect to the Company's activities that would explain this sudden drop. Management continues to make steady progress on all of the Company's business initiatives, which will build the foundation for future growth.
The Ivanhoe Energy executive management team have maintained their shareholdings and will increase them over time. This team is committed to the Company's success and remains optimistic that 2012 will see significant progress in many of its projects.
"Our management team remains confident in our ability to grow this Company," said Carlos A. Cabrera, Ivanhoe Energy's Executive Chairman. "Despite the volatility in a number of the financial markets, we are focused and working as a team to deliver results from our world-class assets."
IMAGING DIAGNOSTIC SYSTEMS (OTCBB: IMDS)
"Up 33.33% 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.
IMDS News:
No recent news for Imaging Diagnostic Systems, Inc. (OTCBB: IMDS).
VIASPACE INCORPORATED (OTCBB: VSPC)
"Up 20.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/VSPC.php
VIASPACE, Inc. commercializes space and defense technologies from NASA and the department of defense into hardware and software products in the United States. The company provides disposable fuel cartridges and intellectual property protection for manufacturers of direct methanol and other liquid hydrocarbon fuel cells; and develops products and services based on inference and sensor data fusion technology. It also develops mass spectrometry technology that improves the application of mass spectrometry for industrial process control and environmental monitoring, and produces detection systems for homeland security, as well as holds patents and various patent applications in the areas of interactive radio technology. The company's direct methanol fuel cell-based products are developed for laptop computers, cell phones, music players, and other applications. It offers its services in the areas of energy/fuel cells, microelectronics, sensors and software for defense, homeland security and public safety, and information and computational technology. VIASPACE was founded in 1998 and is based in Pasadena, California.
VSPC News:
June 11 - VIASPACE Updates Shareholders on Chang Note Payment Situation
VIASPACE Inc. (OTCBB: VSPC) and its subsidiary VIASPACE Green Energy Inc. (OTCBB: VGREF) provides the following update to shareholders.
Following the joint VIASPACE and VIASPACE Green Energy (VGE) board meetings held on April 19, 2012 and reported on in a press release dated April 30, 2012, the company was optimistic about its future because the board unanimously approved a baseline budget that utilized the profits from the framed art division to fund the Giant King Grass business. The budget had all expenses paid in cash with the goal of no additional stock dilution for shareholders. One-year employment contracts for the CEO and CFO were approved. The board of directors of VIASPACE including Director Sung Chang unanimously voted for these board actions. In the press release of April 30, 2012, Director Kevin Schewe reported "Mr. Sung Chang and I were able to spend time together to discuss our joint convictions and aspirations to make Giant King Grass the rising star of the renewable bioenergy universe. We have developed a close working relationship, and we truly believe that VIASPACE can become one of the first successful renewable biomass/bioenergy companies using our significant corporate knowledge and expertise and having Giant King Grass as our scalable bioenergy platform." Sung Chang is the largest VIASPACE (VSPC) shareholder and was a member of the board until May 24, 2012. He, his family and related parties own 424,971,710 shares, or 30.7% of the outstanding shares of VIASPACE. Chang is also a member of the board of VIASPACE Green Energy and serves as its president.
As part of the acquisition of Inter-Pacific Arts in 2008, Sung Chang holds a $5,131,025 secured promissory note from VIASPACE, plus accrued interest of approximately $654,000. Payment on the Note is secured by a guarantee from VIASPACE Green Energy and its two lower tier subsidiaries, along with a stock pledge agreement and various security agreements. The first installment on the Note in the amount of $866,205 plus $632,000 in accrued interest was due on May 14, 2012. Chang received $200,000 towards the 2012 payment in 2011.
The first installment on the secured note was originally scheduled for May 14, 2011, but Chang and the company amended the note and delayed the payment till 2012. VIASPACE, VGE or its two lower tier subsidiaries do not have the cash to make the payment, and VIASPACE proposed several settlement options to Chang. One proposal made by VIASPACE was to offset a related party debt under which one of Chang's other companies, JJ International, would repay $1,234,000 that is owed by them to Inter-Pacific Arts, a subsidiary of VGE. Chang rejected this proposal because of potential adverse tax consequences to him. Chang also had the option to be paid in stock of VIASPACE or VGE to settle the payment due on the note, but he rejected this option as well.
VGE reported gross profits of $2,040,000 in 2011, the majority of which came from Inter-Pacific Arts from its sales of framed art to Hobby Lobby. A portion of that profit remains in the VIASPACE Green Energy bank account. VIASPACE proposed that part of the $710,000 in the VIASPACE Green Energy bank account on March 31, 2012 be used to partially make the note payment to Chang and defer the remaining amount. Chang rejected this proposal.
On May 15, 2012, Chang informed VIASPACE that his family members and investor friends in Taiwan told him that VIASPACE Green Energy should no longer provide any financial support to VIASPACE for the Giant King Grass business, and that VIASPACE Green Energy should retain the profits from the sales of framed art to Hobby Lobby and the future profits from the pellet mill in China. Chang also requested a proposal for a separation of VIASPACE and VIASPACE Green Energy into two companies, the terms of which included having VIASPACE turn over to Chang the VIASPACE Green Energy shares owned by VIASPACE and pledged as security for the note.
As requested, VIASPACE drafted a proposal for a separation of VIASPACE's ownership of VGE that allowed VIASPACE to continue in the Giant King Grass business, and director Dr. Kevin Schewe and VIASPACE management agreed to fund VIASPACE's continuing operations from a combination of investment by Schewe and salary reductions by CEO Carl Kukkonen and CFO Stephen Muzi. That proposal was rejected by Chang. The VIASPACE board met on May 21, 2012 (Chang did not attend this meeting) to consider a new request from Chang to formulate a new proposal that kept VIASPACE and VIASPACE Green Energy together as they are now, but not to use any of the VIASPACE Green Energy funds for VIASPACE activities. VIASPACE presented such a proposal to Chang whereby VIASPACE was to be funded by Schewe and management. The VIASPACE board stated that both the "separation" proposal and the "stay together" proposal were acceptable to the VIASPACE board.
Chang did not accept either the separation proposal or the stay together proposal that were both acceptable to the VIASPACE board. After a discussion of his fiduciary responsibility to all VIASPACE (VSPC) shareholders as the director of a publicly traded company, Sung Chang resigned as a board member of VIASPACE effective May 24, 2012. On May 28, 2012, the board of VIASPACE met again to discuss the negotiations with Chang including a counter-proposal from Chang that was received on May 25, 2012. They discussed additional attempts to strike an agreement with Chang. They submitted changes to the counter-proposal on May 30, 2012. On May 31, 2012, Chang rejected most of VIASPACE's comments. VIASPACE sent both a revised separation proposal and a new simplified stay together proposal to Chang on June 2, 2012. Chang rejected both proposals on June 5, 2012. On June 7, 2012, Chang submitted another version of his counter-proposal, characterized as his final offer to VIASPACE, which was rejected by the VIASPACE board on June 8, 2012. Negotiations are now at an impasse. As stated earlier, VIASPACE did not make the payment due to Chang on May 14, 2012 and, upon formal notice, will have defaulted on the Chang note. As part of the acquisition in 2008, VIASPACE had issued a stock power assigning the VIASPACE Green Energy shares owned by VIASPACE to Chang. VIASPACE owns 6,503,920 VGREF shares which are currently being held by Chang as security for the note. These shares are 75.6% of the 8,600,000 total outstanding shares of VIASPACE Green Energy and now belong to Chang. Chang is the majority shareholder of VIASPACE Green Energy (VGREF). The market value of these shares is $14,633,820 and the appropriate Form 1099 will be filed with the Internal Revenue Service.
Chang and Chang related parties remain the largest shareholder of VIASPACE with 424,971,710 shares (30.7% of outstanding shares), and Chang retains a preferred share that gives him supermajority (50.1%) voting rights for the common stock.
After the transfer of VGE shares from VIASPACE to Chang, VIASPACE will no longer own VIASPACE Green Energy which in turn owns Inter-Pacific Arts and the Giant King Grass plantation in China. VIASPACE would then no longer be able to report the revenue or have access to the profits from the framed art business. The Giant King Grass license was paid for by VIASPACE. VIASPACE continues to have a cash obligation of $136,000 owed to CEO Carl Kukkonen for back salary. VIASPACE does not have the cash to pay Kukkonen, and he has indicated that he is willing to defer payment as part of an agreement for VIASPACE business continuation.
The VIASPACE Board of Directors is willing to reopen negotiations with Chang, and has the goal to continue its Giant King Grass bioenergy business and preserve and increase VIASPACE shareholder value. However, the board has an obligation to inform shareholders that negotiations are at an impasse.
Chang and Chang related parties own 424,971,710 VIASPACE shares, Dr. Kevin Schewe owns 98,000,000 shares, CEO Dr. Carl Kukkonen owns 78,802,954 shares and CFO Stephen Muzi owns 31,689,901 shares. These represent 633 million shares, or 45.8% of the outstanding common shares of VIASPACE. The remaining 750 million shares are owned by an estimated 5000+ shareholders. The board has the goal to find a solution to provide value for all VSPC shareholders.
As stated earlier, Chang is unwilling to utilize profits from the framed art business and future profits from the China pellet mill to continue funding VIASPACE any further. Schewe is willing to fund VIASPACE operations if VIASPACE continues to have the exclusive license for Giant King Grass, and in addition, is not willing to do so as long as Chang retains the supermajority preferred share. These are the major issues in the impasse.
VIASPACE CEO Dr. Carl Kukkonen stated, "This is a period of uncertainty for VIASPACE. Shareholders need to be informed and this is the reason for this detailed press release. As a cofounder of VIASPACE in 1998, I am sad to see this impasse. I will work to try to find a solution that benefits all VIASPACE shareholders and VIASPACE customers and benefits VIASPACE Green Energy as well."
ALEXZA PHARMACEUTICALS INCORPORATED (NASDAQ: ALXA)
"Up 8.49% 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.
ALXA News:
July 2 - Alexza Pharmaceuticals to Present at the 7th Annual JMP Securities Healthcare Conference
Alexza Pharmaceuticals, Inc. (NASDAQ: ALXA) announced that the company will participate in the 7th Annual JMP Securities Healthcare Conference, being held in New York, New York, July 12 - 13, 2012. Dr. James V. Cassella, Alexza Senior Vice President, Research and Development, will present at the conference. The Alexza corporate presentation will be Friday, July 13, 2012 at 12:30 p.m. Eastern Time. The presentation will be webcast live.
To access the presentation via the Web, please go to the Alexza Investor Relations tab at www.alexza.com.
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