RITT, AFPW, CYNX, ECOB, GRNE, MIKP
Our Stocks to Watch today include RiT Technologies Ltd. (NASDAQ: RITT), AlumiFuel Power Corp. (OTCBB: AFPW), Cellynx Group Inc. (OTCBB: CYNX), Eco Building Products Inc. (OTCBB: ECOB), Green Endeavors Inc. (OTCBB: GRNE) and Mike the Pike Productions Inc. (OTC: MIKP).
RIT TECHNOLOGIES (NASDAQ: RITT)
"Up 64.70% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/RITT.php
RiT is a leading provider of intelligent solutions for infrastructure management, asset management, environment and security, and network utilization. RiT Enterprise solutions address datacenters, communication rooms and workspace environments, ensuring maximum utilization, reliability, decreased downtime, physical security, automated deployment, asset tracking, and troubleshooting. RiT Carrier solutions provide carriers with the full array of network mapping, testing and bandwidth qualification capabilities needed for access network installation and service provisioning. RiT's field-tested solutions are delivering value in thousands of installations for top-tier enterprises and operators throughout the world.
July 2 - RiT Technologies Announces 2012 Annual General Meeting
RiT Technologies (NASDAQ: RITT) announced that its 2012 Annual General Meeting of Shareholders will be held on Tuesday, July 24, 2012 at 10:00 a.m. (Israel time), at the offices of the Company, 24 Raoul Wallenberg Street, Tel Aviv, Israel.
The record date for the meeting is July 4, 2012. The Company will send to its shareholders of record a proxy statement describing the various matters to be voted upon at the meeting, along with a proxy card enabling them to indicate their vote on each matter. The Company will also furnish the proxy statement to the Securities and Exchange Commission (SEC) on Form 6-K.
The agenda of the annual general meeting is as follows:
1. To re-elect three (3) directors to the Board of Directors of the Company;
2. To re-elect Ms. Galia Druker as an external director;
3. To approve the re-appointment of KPMG Somech Chaikin as the Company's independent auditors for the fiscal year ending December 31, 2012; and to authorize our Board of Directors to delegate to the Audit Committee the authority to fix the remuneration of KPMG Somech Chaikin in accordance with the volume and nature of their services;
4. To approve the Technology Purchase Agreement between the Company and Quartz Ltd., an Israeli company affiliated with the Chairman of the Board of Directors of the Company;
5. To consider the audited consolidated financial statements of the Company for the year ended December 31, 2011; and
6. To transact such other business as may properly come before the Meeting or any adjournment thereof.
For additional information please refer to the above referenced Proxy Statement.
ALUMIFUEL POWER CORPORATION (OTCBB: AFPW)
"Up 50.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/AFPW.php
AlumiFuel Power Corporation operates through its wholly owned subsidiary, AlumiFuel Power, Inc., a Philadelphia-based early production stage alternative energy company that generates hydrogen gas and steam for multiple applications requiring on-site, on-demand fuel sources.
No recent news for AlumiFuel Power Corporation (OTCBB: AFPW).
CELLYNX GROUP INCORPORATED (OTCBB: CYNX)
"Up 20.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/CYNX.php
CelLynx Group, Inc. engages in the development and manufacture of cellular network extenders for the small office, home office, and vehicle/marine markets. The company offers 5BARz product line, which comprise 5BARz @Home Unit for the small office or home office to eliminate cell phone weak spots in an area similar to the size of a single family home; and 5BARz Road Warrior Unit to eliminate cell phone weak spots primarily while in a vehicle or water vessel, as well as for single-room coverage in home, office, or hotel. It plans to develop its products for use in North America, Europe, and Asia. The company was founded in 2005 and is headquartered in Mission Viejo, California.
No recent news items for Cellynx Group, Inc. (OTCBB: CYNX).
ECO BUILDING PRODUCTS INCORPORATED (OTCBB: ECOB)
"Up 8.58% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/ECOB.php
Eco Building Products, Inc. is a manufacturer of proprietary wood products treated with an eco-friendly proprietary chemistry that protects against fire, mold/mycotoxins, fungus, rot-decay, wood ingesting insects and termites with ECOB WoodSurfaceFilm™ and FRC™ technology (Fire Retardant Coating). Eco Building products, "Eco Red Shield", "Eco Blue Shield" & "Eco Clear Shield" utilizing patent pending technology is the ultimate in wood protection, preservation, and fire safety to building components constructed of wood; from joists, beams and paneling, to floors and ceilings.
July 11 - Eco Building Products Secures One Hundred Million Dollar Credit Facility
ECOB Receives a four Year Credit Commitment to Assist Company Growth
Eco Building Products, Inc. (ECOB) announced that it has been supplied a one hundred million ($100,000,000.00) dollar standby letter of credit to support major expansion in the Company's core business. InsurFinancial Holdings, Plc has negotiated the credit facility in what they believe is recognition of the expanding worldwide demand for the "ECO" branded products. This facility is provided by the Bank of China from the private client division of its Beijing, China offices. The Bank of China is rated A-1, by Standard and Poor's, and is one of the top banks in the world. Under the terms, this facility credit support will not expire until 4th of December 2016.
Additionally, the agreement grants an option that allows InsurFinancial Holdings, Plc to convert their fee into an equity investment of up to five million ($5,000.000.00) dollars each year for the next four years. The option calls for the share price of the additional equity investment to be calculated at 120% of the three month trailing average of ECOB's stock. The Company now has the availability of credit which should enhance credit support for the future liabilities incurred in the rapid expansion of the demand for its products.
"After identifying the need of the industry and several years of creating our Eco Red Shield™ coatings along with the Eco branding of coated lumber products the Company now has the potential financial support to expand its products to the world market. With the recent achievement of Eco Red Shield building code approval coupled with our stand by letter of credit we now have the foundation to compete head to head with the treated lumber industry, a multi-billion dollar market place. We have built a strategic infrastructure with eight approved manufacturing sites allowing us to rapidly capture this multi-billion dollar a year lumber market in the USA and abroad," stated Steve Conboy, President and CEO of Eco Building Products. "I have over thirty years of experience in the construction and building products industry with execution being my biggest strength. Industry supply chain has changed due to the past several years of housing decline. ECOB is retooled and ready to explode into the recovering housing market with our value added protection the industry needs just in time for this election year," added Conboy.
ABOUT THE STAND BY LETTER OF CREDIT (SBLC)
InsurFinancial, under contract, arranged the SBLC to improve the credit worthiness of the Company. In the event ECOB's liabilities from the expansion cannot be met from ordinary course of business the Company can request its bank to draw down on the credit facility to cover liabilities. ECOB has been advised that the SBLC has been secured with blocked funds deposited in the Bank of China. Though, not yet exercised, the Bank of China will honor the liabilities up to one hundred million dollars.
GREEN ENDEAVORS LIMITED (OTCBB: GRNE)
"Up 50.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/GRNE.php
Green Endeavors, Inc., headquartered in Salt Lake City, Utah, is a holding company with operations in health & beauty. GRNE owns a majority interest in several Aveda™ based businesses.
June 18 - GRNE Reports Record Salons Revenue for May of $261,038; Up 14.67% Over May 2011
Green Endeavors, Inc. (OTCBB: GRNE), a majority owned subsidiary of Nexia Holdings, Inc. (OTC: NXHD), announced record May revenue growth.
Green Endeavors is reporting that the combined unaudited revenues for both Landis Lifestyle Salon locations were $261,038 for the month of May 2012; which is an increase of $33,139 or 14.67% compared to May 2011. The newer Marmalade salon reported May 2012 sales of $74,520; a $9,202 or 14.1% increase from the comparable month of 2011. Our flagship Liberty Heights salon reported revenues in May 2012 of $186,518; a $23,937 or 14.72% increase over May 2011.
Kassie Hill, our Regional Salon Manager, observed, "Our training program continues to graduate talented new Grand Salon Stylists which contributes to our revenue growth in the salons. These positive results show the long term benefit of how our New Artist program allows newly trained stylists to sharpen their skills and complete their Aveda™ education."
MIKE THE PIKE PRODUCTIONS INCORPORATED (OTC: MIKP)
"Up 85.71% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/MIKP.php
BizRocket.com, Inc. engages in the Internet related business. It focuses on creating a social networking Website under the Kidzrocket.com name for children. The company was formerly known as Fortress Nevada, Inc. and changed its name to BizRocket.com, Inc. in June, 1999. BizRocket.com, Inc. was incorporated in 1995 and is based in Coral Springs, Florida.
July 11 - Mike The Pike Productions, Inc. Announces Material Shareholder Update
Mike the Pike Productions, Inc.’s (OTC: MIKP), an entertainment company with a focus in feature films, graphic novels and media holdings, issues the following update for shareholders in the company in a continued employment of actions toward increased shareholder value in line with company growth, including settlement of debt & liabilities, reduction of authorized and outstanding shares, finalization of feature films, sales and distribution of feature films, development of feature film and graphic novel properties. CEO/Producer, Mark B. Newbauer issues the following report on behalf of the company:
In Q2, Mike The Pike Productions launched an aggressive program to reduce debt and liabilities as well as share structure in a long-term commitment to growth and added-value for its shareholders.