|
ELRA, YESD, BMGP, DNDT, YIPI
WSRA, AVTI, EXPH, HAUP, DIVX, EFGU
Our Stocks to Watch today include Elray Resources Inc. (OTCBB: ELRA), YesDTC Holdings Inc. (OTCBB: YESD), Biomagnetics Diagnostics Corp. (OTC: BMGP), DND Technologies Inc. (OTC: DNDT), Yippy Inc. (OTCBB: YIPI), Western Sierra Mining Corp. (OTC: WSRA), Avitar Inc. (OTC: AVTI), Expo Holdings Inc. (OTC: EXPH), Hauppauge Digital Inc. (Nasdaq: HAUP), DivX Inc. (Nasdaq: DIVX) and Empire Film Group Inc. (OTC: EFGU).
FEATURED COMPANY
ELRAY RESOURCES INCORPORATED (OTCBB: ELRA)
"Up 10.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/ELRA.php
Company Profile: http://www.otcpicks.com/Elray-Resources.htm
Elray Resources, Inc. is a junior exploration and development Corporation which has successfully accumulated a portfolio of four highly prospective, heavily mineralized mining tenements in Cambodia and Mexico. Elray Resources primary objective is to source potential and viable projects, conduct geological assessments and seek Joint Venture partners to develop the properties. Elray Resources 100% controlled entity in Cambodia is Angkor Wat Minerals Ltd.
ELRA News:
August 5 - Elray Resources: Stable Ecuadorian Economy Ready for Growth in Mining Sector
Country's Mining Industry Now Fully Regulated, Providing for Stability and Adoption of International Standards
Elray Resources, Inc. (OTCBB: ELRA), a global exploration and production mining company with a portfolio of valuable properties, is pleased to report that numerous agencies and institutions expect that Ecuador's Mining sector will be a major engine of growth in the coming years.
The current investment climate in Ecuador is extremely favorable, as compared to other Latin American countries. A dollarized economy, combined with a stable political culture and low wage levels, create many opportunities for foreign investors. Other investment advantages include an abundance of natural resources and the fastest growing economy in the region, with a non-oil GDP growth rate of 6% for 2010.
Some key facts include:
* Geological studies performed by the British, Swedish and Ecuadorian Geological Surveys through the late 1990s have suggested that Ecuador has tremendous potential for discovery of new economic ore deposits.
* There are new laws protecting the Ecuadorian Economy and Environment seen as progressive.
* Ecuador's Minister of Production Nathalie Cely Suarez, in talks with Bloomberg, commented that the Country's non-oil GDP expected to rise 6% in 2010.
* In January 2010, Agencia de Regulacion y Control Minero ("ARCM") was established to be responsible for compliance of resource companies and their activities with Ecuador's new mining law. A prerequisite of the new mining law is the confirmation of the mining company's concession titles in Ecuador.
* All business in Ecuador is transacted in US currency, encouraging stability and inward investment.
* Oil and Mining are valued at 27% of the economy of Ecuador and the government recognizes their value and is working to develop more investment.
* There is a good labor pool available in Ecuador, which makes investing in Ecuador particularly attractive.
"We believe Ecuador has key elements required to see its mining sector explode," commented Barry Lucas, Elray's Executive Chairman. "These include excellent geological potential, stable economy and a business-oriented government."
FEATURED COMPANY
YESDTC HOLDINGS INCORPORATED (OTCBB: YESD)
"Up 8.82% in morning trading"
Detailed Quote: www.otcpicks.com/quotes/YESD.php
Company Profile: http://www.otcpicks.com/yesdtc-holdings/yesdtc-holdings.htm
YesDTC Holdings, Inc. is a direct-to-consumer marketing company specializing in direct response television (DRTV), Internet and retail marketing programs. The Company brings a unique set of skills to this marketplace. YesDTC combines both creative talents and financial acumen to create a total package for direct-to-consumer marketing programs. We have formed a strategic partnership with Schulberg Media Works (SMW), one of the pioneering firms in the direct-to-consumer space. SMW's track record is impressive with nearly $1 billion in revenues and a strong track record of industry awards. SMW campaigns include Tempur-Pedic, Guthy-Renker, Sony, 24-Hour Fitness, Rhino Records, HarperCollins, PureSleep, among many others.
YESD News:
August 5 - YesDTC Holdings Receives Notification of Japanese Class II Designation
YesDTC Holdings, Inc. (OTCBB: YESD), a direct-to-consumer marketer and global distributor of consumer goods and products, today announced it has been notified that the Japanese government agency in charge of medical device regulation has placed the ActiPatch™ Therapy and the Allay™ Menstrual Pain Therapy products manufactured by BioElectronics Corp, (OTC: BIEL) in the Class II category. YesDTC Holdings is the exclusive distributor for all Bioelectronics products in Japan.
"We are clearly excited to have been placed in the Class II category," commented YesDTC Holdings CEO, Joseph Noel. "The Class II designation will allow YesDTC to partner with other Japanese distributors that currently hold medical device licenses, thereby speeding our entry into the lucrative Japanese medical device market. With this designation, direct to consumer marketing without a healthcare provider's prescription is permitted and no further clinical trials will be needed. The pain relief product vertical is very large in Japan and the demand for non-drug based therapies very strong."
Beginning with the start of the third calendar quarter, YesDTC moved from the development phase into a revenue production phase. In addition to the Bioelectronics product line that will be marketed into Japan, YesDTC recently launched its first North American direct response television program, called Simply Music™ (www.trysimplymusic.com). YesDTC recently moved this program out of the test phase. The Company is currently in production for its second North American program for the MediPendant™ personal medical alarm, which is manufactured by Medical Alarm Concepts Holdings, Inc. (OTCBB: MDHI). YesDTC is currently developing several other direct response television programs and other marketing initiatives designed to significantly increase shareholder value.
FEATURED COMPANY
BIOMAGNETICS DIAGNOSTICS CORPORATION (OTC: BMGP)
Detailed Quote: http://www.otcpicks.com/quotes/BMGP.php
Company Profile: http://www.otcpicks.com/Biomagnetics-Diagnostics.htm
Biomagnetics Diagnostics Corporation is an advanced medical device and biotechnology company. The Company's revolutionary diagnostic systems, which are based on advanced magnetics, test for any viral or bacterial disease using any body fluid. The Company's technology allows laboratories to perform far more tests in the same amount of time it takes to do a single test. The HTS-MTP platform is designed to detect the actual virus and viral load in body fluids and not just simply screen for the presence of viral antibodies.
BMGP News:
July 26 - Biomagnetics Provides Investor Update
Biomagnetics Diagnostics Corp. (OTC: BMGP), a developer of revolutionary diagnostic systems and other innovative technologies, provided the following updates on corporate activities.
Clayton Hardman, CEO of Biomagnetics commented, “We have recently completed a thorough review with our auditors, results which will soon be open for review. This will be the first step in becoming a fully reporting company and being listed on the OTCBB. Full transparency is critical as we expand and move forward with planned acquisitions. Over the coming weeks and months you will see substantial developments from our company. We believe we are on the leading edge in revolutionizing tuberculosis diagnostics throughout the world in partnership with Los Alamos National Laboratories. We are equally excited about introducing to the world revolutionary biodegradable plastic film and several “green” bio-fuel formulations all of which hold the promise to significantly reduce pollution. It is clearly a very exciting time for our shareholders. Below, we have provided a detailed update of some of our recent corporate activities.”
Corporate legal staff has already completed the majority of the required Securities and Exchange Commission (SEC) filing information (Form 10) and expects to file with the SEC over the next few weeks.
Integrated Optical Biosensor Development (IOBS) - Biomagnetics continues to work toward development of the world's first integrated optical biosensor for the detection of disease causing pathogens. Biomagnetics is aggressively working with the staff of Los Alamos National Security, LLC to arrange a joint conference call or webinar to discuss this project with both the medical and investment communities.
Zhuhai Oil New Energy Science and Technology, LTD Acquisition - Biomagnetics recently announced the signing of a letter of intent to acquire Zhuhai, an innovative designer and producer of low carbon biofuels. Today, the companies are releasing test results on these unique biofuel blends. According to China National Vehicle Pollutant Emission Standards, idling nitrous oxides cannot exceed 200 ppm for light duty gasoline vehicles. Recent tests using the Zhuhai low carbon gasoline blend produced test results of only 6 to 27 ppm. The high idle standard is for less than 150 ppm, with the Zhuhai blend product testing at 3 to 15 ppm. The Zhuhai gasoline product also significantly reduced carbon emissions with test results of 0% to 0.2%, versus the maximum national carbon emissions standard of 0.5%. As was announced on July 21, biofuel production at the plant was recently increased to 60 metric tons per hour. It is estimated the average pretax profit per ton of various fuel blends that will be sold to power plants and other industrial users will range between 700 RMB and 1,300 RMB per ton. The companies recently completed additional negotiations toward the closing of this merger, which included an agreement to allow Biomagnetics to manage the process of filing all U.S. patent applications for these low carbon biofuels.
Lanzhou Sanhuan New Technology Acquisition – On July 12th, Biomagnetics announced the signing of a letter of intent to acquire Lanzhou Sanhuan, the developer and patent holder of a unique highly degradable, PVA plastic film with unique gas permeation reduction features. Biomagnetics has recently completed its initial legal review of the patent held by Lanzhou, the status of current production levels and the validity of the ongoing Chinese government agriculture-related contract for a significant amount of Lanzhou PVA film. As a result of this review, Biomagnetics will move forward with a formal offer for the Company.
Additional Acquisitions - Biomagnetics is today announcing its intent to move toward an acquisition related to the manufacturing inputs for the Lanzhou PVA film while reviewing an additional proposed acquisition relating to the production of bio-fuels in China. This additional bio-fuel acquisition is designed to provide a limited level of vertical integration in order to better meet strong demand required by a local Guangdong electric power station that has agreed to place a significant order for the cleaner burning Zhuhai biofuel blend.
Relative to the acquisition of Lanzhou and Zhuhai, Biomagnetics will issue a total of 20 million shares of common stock and has agreed to capitalize these two operations with $2 million in capital of over the next 90 days. The Company believes these acquisitions will be highly accretive to earnings and will result in a significant addition to shareholder value.
FEATURED COMPANY
DND TECHNOLOGIES INCORPORATED (OTC: DNDT)
Detailed Quote: http://www.otcpicks.com/quotes/DNDT.php
Company Profile: http://www.otcpicks.com/Newsletter/DNDT_061510.html
Founded in 1997, DND Technologies is a publicly traded high technology holding company that acquires, invests in, or partners with leading edge technology solution companies and established businesses to bring new or improved products to market. DNDT's core competencies include acquiring or taking strategic financial positions in cutting-edge companies that have synergies in business-to-business and business-to-consumer technology opportunities that are targeted to resolving unmet consumer needs and emergent business domains. is a publicly traded high technology holding company that acquires, invests in, or partners with leading edge technology solution companies and established businesses to bring new or improved products to market. DNDT's core competencies include acquiring or taking strategic financial positions in cutting-edge companies that have synergies in business-to-business and business-to-consumer technology opportunities that are targeted to resolving unmet consumer needs and emergent business domains.
DNDT News:
August 3 - MatchingAds Chooses Virtacore Systems
* Managed Cloud Provider Will Host Fast-Growing Company's Entire Network of Online Classified
* Solutions for Local TV Stations Across the U.S.
MatchingAds, Inc., a subsidiary of DND Technologies (OTC: DNDT), and Virtacore Systems, Inc. announced that Virtacore has been chosen as the exclusive cloud computing and managed services provider for MatchingAds' entire network of online classified solutions. MatchingAds is a full service classifieds solution provider that delivers customized advertising web portals for TV stations in major cities across the U.S. Virtacore Systems, a leading managed cloud provider, will host and manage all aspects of the IT infrastructure required to deliver each of MatchingAds' web portal solutions.
MatchingAds works with local TV stations to augment their advertising bases with an increased ability to drive traffic to their respective websites. Their proprietary ad-generation process provides a local media web portal with a high volume of ads. It also includes a proprietary user-verification process eliminating the issues of spamming and illegal content.
Following its successful debut in the Phoenix market in late 2009, MatchingAds is on pace to open additional sites in 2010 in each of the top 20 high density markets or top Designated Market Areas (DMAs), including New York, Philadelphia, Chicago and Los Angeles, which represent about 40% of the U.S. The company chose to move from its current hosting provider to Virtacore Systems to ensure their infrastructure could scale to meet heightened demand.
According to The Yankee Group, Internet advertising is expected to grow more than 100 per cent in just two years, from $21.7 billion in 2009 to $50.3 billion by 2011. "Our TV network customers expect our classified solutions to be always-on and operating at peak performance," said David Pollei, President and CEO of MatchingAds. "With Virtacore, we're confident that our solutions can scale to meet or exceed our clients' expectations even as we expand into other major metropolitan markets. They're a true business partner that's 100 per cent committed to our success — a rare find in the service provider space these days."
Virtacore Systems' Tier 3 Equinix data centers are home to all the servers, storage and network infrastructure needed to support each of MatchingAds' advertising web portals. In order to best meet MatchingAds' clients' wide range of computing needs, Virtacore designed and implemented a hybrid cloud solution using both shared and dedicated resources. In addition, Virtacore provides the full complement of managed services required for day-to-day operations such as systems administration, backups, and software maintenance.
"We're thrilled to have been chosen as MatchingAds' exclusive Managed Cloud Provider," said Thomas J. Kiblin, Founder and CEO of Virtacore Systems. "We pride ourselves in really understanding each client's unique environment so we can deliver the best combination of resources and managed services they need to be successful in the cloud. This enables us to readily adapt to handle MatchingAds rapid growth and dynamic client needs."
FEATURED COMPANY
YIPPY INCORPORATED (OTCBB: YIPI)
Detailed Quote: www.otcpicks.com/quotes/YIPI.php
Company Profile: http://www.otcpicks.com/Yippy-Inc.htm
Based in Fort Myers Florida, Yippy, Inc. (www.yippy.com), formerly known as Cinnabar Ventures, Inc., is a new economy technology company that develops technologies and application services environments for both Consumer and Commercial market segments in the cloud computing sector.
YIPI News:
July 30 - Liberty Analytics Co. Initiates Independent Research Coverage on Yippy, Inc.
Liberty Analytics Co., a leading provider of large, small - and micro-cap independent investment research, has initiated coverage on Yippy, Inc. (OTCBB: YIPI). Liberty Analytics is currently offering a complimentary trial subscription. Go to www.skymarkresearch.com To view the company's research.
July 29 - Skymark Research Initiates Independent Research Coverage on Yippy, Inc.
Skymark Research, a leading provider of small- and micro-cap independent investment research, has initiated coverage on Yippy, Inc. (OTCBB: YIPI).
Skymark Research is currently offering a complimentary trial subscription. Go to www.skymarkresearch.com To view the company's research.
STOCKS TO WATCH
WESTERN SIERRA MINING CORPORATION (OTC: WSRA)
"Up 380.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/WSRA.php
Western Sierra Mining Corp., a development stage company, engages in the acquisition, development, and mining of mineral properties. Its subsidiary, Western Sierra Inc., engages in the gold and other precious mineral mining on a gold bearing placer deposit located in the Sierra Occidental Mountains in the state of Sonora, Mexico. In addition, it has a joint venture with Minera La Escuadra, S.A. (Escuadra) to process and market the minerals in approximately 35,000 tons of ore that was extracted by Escuadra from a mining property called El Picacho. It also has an option to purchase the mining rights to a mineral concession called Pirita, Mexico. The corporation operates in Mexico. The corporation has its principal executive offices in Lake Havasu City, Arizona.
WSRA News:
July 10 - Western Sierra Mining Announces Acquisition of Mining Properties in Arizona
Western Sierra Mining Corp. (OTC: WSRA) officially announced to shareholders that the Company has successfully executed a definitive material agreement with GoldRiver Exploration, Inc, whereby Western Sierra has acquired exclusive mining rights to eight ore bearing properties in the Bradshaw Mountain region of Central Arizona.
The recently finalized acquisition includes noted properties with extensive mining histories and precious metal ore bodies that are geologically well documented, including The Sun Gold Group, The Big Chief Group, The Oro Cache Mine, The Eagle Mine and The Treasure Gulch Mine. Based on historic geologic assessments, collective proven gold reserves for the properties are estimated at 100,000 ounces (Au) with probable reserves of 400,000 ounces (Au), in additional to proven and probable reserves of silver totaling approximately 1,000,000 (Ag).
Together with the completion of this acquisition and the recent engagement of PCAOB member accounting firm of Moore & Associates, Western Sierra management is working to value the mine group acquisition for accounting and reporting purposes in accordance with Generally Accepted Account Principals (GAAP) and industry norms. It is anticipated that this valuation information will be completed and released to shareholders within the next week.
Michael Chaffee, CEO & President of Western Sierra Mining, commented, “We are thrilled to have formalized this transaction that will, when valuation calculations are completed, undoubtedly provide significant per share value to WSRA shareholders, significantly improve the Company’s balance sheet and provide management with meaningful short-term production possibilities to propel the company into revenue generating status.” He continued, “With the initial stake hold firmly in place, management will begin planning for preliminary exploration in the 3rd quarter while continuing to evaluate other properties that will expand total proven and probable reserves.”
AVITAR INCORPORATED (OTCBB: AVTI)
"Up 66.67% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/AVTI.php
Avitar, Inc. is a publicly traded holding company now focusing on investing in and building a network of joint venture interests, or, as the situation may require, operating subsidiaries. These joint ventures or subsidiaries are or will be engaged in various innovative businesses. Currently the company's joint venture interest with Johnnie's Famous Shoes, Inc. provides Avitar with its entry into its new business model.
AVTI News:
August 5 - Avitar, Inc. JV Agreement With Johnnie's Famous Shoes Update
Avitar, Inc. (OTC: AVTI) announced that its Joint Venture with Johnnie's Famous Shoes, Inc. ("Johnnie's") of New York is proceeding on target with product currently in production in Mexico and is expected to be shipped to stores sometime between August 30 and September 15th, 2010.
Doran Santiago Ramos, Johnnies head of sales and marketing stated, "The run is almost sold out and the product will be available at various high end stores such as Nordstrom, LACA, Marine Corp Exchange, Rolo, Sears MX, M. Fredric, Metro, Ink Well, Proud Art, and Crush on Collage.
Ramos further stated that, "Interest in the Johnnie's products has been significant. Johnnie's is now adding a women's line called 'Bre' this fall as well as an accessory line including man bags, wallets, belts, money clips, shoe brushes, shoe horns and Johnnie's Famous Shoe Polish."
Avitar is in discussions with Johnnie's regarding additional investments and extension of its Joint Venture to include some or all of these new opportunities.
EXPO HOLDINGS INCORPORATED (OTC: EXPH)
"Up 60.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/EXPH.php
Expo Holdings operates in North Wilkesboro, NC. D&D Displays is a wholly owned subsidiary of Expo Holdings, which specializes in custom cabinetry and high end store fixtures for retail vendors such as Newell-Rubbermaid, Inc., Bosch Tool Corporation, Kronotex, USA, and S&K Men's Wear. D&D Displays has been in operation since 2000 and joined Expo Holdings in 2006.
EXPH News:
August 4 - Expo Holdings, Inc. Begins Production of 20000+ Store Fixtures
Expo Holdings, Inc. (OTC: EXPH), via its subsidiary D&D Displays, Inc. has begun limited production of its recent 20,000+ store fixture program designated for Lowe’s Companies, Inc.
Initial production regarding this program is expected to stretch from now until the end of September, with ongoing production in addition to this initial order expected over the next year. The retailer will utilize these fixtures nationwide. The company expects heavy incoming raw material shipments over the next 4 weeks, and expects heavy outgoing shipments to begin by early September.
The company has raised funds via its equity and utilized some of these funds in relation to funding this project. At this time, the company has fully completed its fundraising needs, and anticipates no increases in the company’s outstanding share count.
HAUPPAUGE DIGITAL INCORPORATED (NASDAQ: HAUP)
"Up 25.96% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/HAUP.php
Hauppauge Digital Inc. (HAUP) is a developer of analog and digital television tuners and other products for the personal computer (PC) market. Through the Company's Hauppauge Computer Works Inc., Hauppauge Digital Europe Sarl and PCTV Systems Sarl subsidiaries, the Company designs, develops, manufactures and markets analog, digital and other types of television tuners and other devices that allow PC users to watch television on a PC screen in a resizable window. The Company's products also enable the recording of television shows to a PC's hard disk, receiving of digital television data transmissions and the display of digital media stored on a computer to a television set via a home network. The Company's products fall under three product categories: Analog television tuners, digital television tuners and combination analog plus digital television tuner products, and other non-television tuner products.
HAUP News:
August 5 - Hauppauge Introduces High Definition Video Recorder Support for Windows Media Center
A new update to HD PVR, Hauppauge's high definition personal video recorder, now allows Windows Media Center to record premium HD TV content from cable or satellite TV
Hauppauge Digital, Inc. (Nasdaq: HAUP), the world's leading developer and manufacturer of analog and digital TV receiver products for personal computers, has announced that the HD PVR is now supported as a TV video recorder in Windows Media Center. With a free software update from Hauppauge, Windows Media Center can now use the HD PVR to record high definition TV programs from a cable TV or satellite set top box. HD PVR can record HD TV from any cable TV or satellite set top box which has a component video output. In addition to high definition video, HD PVR can record 5.1 channel audio through its optical audio connections.
Windows Media Center is a feature of all Windows 7 Home Premium and Professional versions, and has currently been installed in over 50 million PCs. Windows Media Center allows users to watch and record TV on their Windows 7 PC. HD PVR adds to Windows Media Center the ability to record high definition premium TV programs, as long as the user has a subscription to those services through their cable TV or satellite operator.
With this new software update, users of Windows Media Center can now create libraries of their favorite premium TV programs in HD and with full 5.1 channel audio.
Hauppauge has other TV tuner products which allow high definition over-the-air ATSC and clear QAM digital cable TV to be recorded with Windows Media Center, but the HD PVR is the first high definition video recorder on the market which will allow Windows Media Center to record high definition TV from a cable TV or satellite set top box.
HD PVR records from cable TV and satellite set top boxes through component video, at HD resolutions up to 1080i. To allow the Windows Media Center electronic program guide to automatically record a cable or satellite TV program on a specified TV channel, HD PVR includes an 'IR blaster' which will automatically change the TV channel on the set top box. For example, if a user schedules a recording of the popular HBO show "Entourage" on their premium cable or satellite set top box, the HD PVR will use the IR blaster to change the set top box to the correct channel before recording the TV show.
The HD PVR has a retail price of $199, and is available from Amazon, Fry's Electronics and the Micro Center computer stores.
DIVX INCORPORATED (NASDAQ: DIVX)
"Up 5.98% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/DIVX.php
DivX, Inc. creates products and services designed for media applications. It offers a video compression-decompression software library, or codec, which is a set of software libraries that plugs into video software applications and allows users to create and play DivX videos. The company also provides DivX Player, a software application that allows users to process video downloads, manage video collections, and activate DivX certified devices; DivX Web Player, a software plug-in that interfaces with Web browsers and allows DivX video to be embedded and played within Web pages; DivX Content Uploader, a software plug-in for content publishers to upload the videos to an online video community Website; DivX Pro video codec, which offers encoding tools; DivX Converter, which automatically converts files in other media formats to its DivX media format; software development kits that allow software vendors to build DivX playback and creation support into their products; and Open Video System, a hosted service that allows content creators to deliver DivX video content over the Internet. The company also operates Stage6.com, an online video community Web site that allows users to upload and publish video content on the Web site. It markets its technologies to a range of integrated circuit manufacturers, original design manufacturers, original equipment manufacturers, and software developers worldwide. The company was incorporated in 2000 and is headquartered in San Diego, California.
DIVX News:
August 4 - DivX, Inc. Reports Strong Second Quarter 2010 Financial Results
* Emerging Product Categories Continue to Gain Momentum; Licensing Business up 23% Year-over-Year
* Balance Sheet Remains Solid; Cash and Investments Increase by $7 Million to $146 Million or $4.41 per Share
DivX, Inc. (Nasdaq: DIVX), a leading digital media company, announced results for the three and six months ended June 30, 2010.
The Company reported revenues for the second quarter of $19.6 million, comprised of $16.9 million of technology licensing revenues and $2.7 million of media and other distribution and services revenues. This compares to revenues of $15.2 million reported for the same period a year ago, which included $13.7 million of technology licensing revenues and $1.5 million of media and other distribution and services revenues.
"In Q2, we once again delivered solid financial and operational results and beat expectations," stated Kevin Hell, Chief Executive Officer for DivX. "We remain on a strong growth track based on our progress with emerging devices such as digital televisions, Blu-ray players, set-top boxes and mobile phones. With our premium content and DivX TV initiatives, we are well positioned to redefine the future of digital content delivery."
GAAP net loss in the second quarter of 2010 was approximately $2.8 million, or a net loss of $0.09 per diluted share. DivX generated non-GAAP net income of $760,000, or $0.02 per diluted share. Non-GAAP net income and earnings per diluted share exclude the following expenses:
* Non-cash share-based compensation of approximately $2.7 million ($1.6 million, or $0.05 per diluted share, net of related taxes);
* The scheduled amortization of purchased intangible assets related to the acquisition of MainConcept of $475,000 ($290,000, or $0.01 per diluted share, net of related taxes);
* The foreign exchange impact on our Euro-denominated intercompany loan of $165,000 ($101,000, or less than $0.01 per diluted share, net of related taxes);
* The impact of contingent consideration fair value adjustments related to the acquisition of AnySource Media of $102,000 ($62,000, or less than $0.01 per diluted share, net of related taxes);
* A non-cash benefit of $895,000, or $0.03 per diluted share, related to adjustments to our deferred tax assets primarily related to certain California tax law changes and stock option cancellations;
* Expenses related to the proposed merger transaction between DivX and Sonic Solutions of approximately $1.2 million ($723,000, or $0.02 per diluted share, net of related taxes); and
* Gain on the purchase of MainConcept Japan Controlling interest of $213,000 ($130,000, or less than $0.01 per diluted share, net of related taxes).
Dan Halvorson, Chief Financial Officer and Executive Vice President, Operations, added, "We had another solid quarter, delivering great bottom line results that highlight the strength of our business model. Our balance sheet remains strong with $146 million in cash and investments, or $4.41 per share."
EMPIRE FILM GROUP INCORPORATED (OTC: EFGU)
"Up 9.09% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/EFGU.php
Empire Film Group, Inc. engages in the finance, production, and distribution of films. It films in various locations worldwide that include Los Angeles, Vancouver, Calgary, Toronto, France, Spain, Romania, Czech Republic, Israel, Costa Rica, Venezuela, Puerto Rico, Colombia, Cuba, Dominican Republic, Mexico, and various locations throughout the United States. The company would also co-produce and co-finance with other producers and production companies. It was formerly known as Environmental Construction Products International, Inc. and changed its name to Empire Film Group, Inc. in November 2007. The company is based in Beverly Hills, California.
EFGU News:
July 30 - Empire Film Group Sets Plans for Havana Heat
Empire Film Group, Inc. (OTC: EFGU) has received a commitment from Tayrona Entertainment Group for the financing and production of the Movie "Havana Heat". The project will be filmed in Cartagena, Colombia this fall and will be a co-production between Empire Film Group and Tayrona Entertainment Group. Tayrona's CEO, James Ordonez, confirmed the financing for the project. A combination of foreign pre-sales, tax credits and private equity will be utilized to finance the production.
Tayrona Entertainment Group has produced, distributed and provided financing and production services to high quality Hollywood films and TV shows for over 20 years in the market place. Their background and experience include films like "The Mission" starring Robert de Niro and Jeremy Irons, "Cobra Verde" directed by Werner Herzog, "Chronicle of a Foretold Death" directed by Francesco Rossi, "Nostromo" starring Albert Finney and Colin Firth, "Proof of Life" starring Russell Crowe and Meg Ryan, "The Dancer Upstairs" directed by John Malkovich, "Reversal of Love" distributed by MGM, "Stuck" starring Stephen Rea and Mena Suvari, "Quo Vadis" for HBO and "Zorro" the television series for Sony Pictures. Tayrona Distribution (Formerly Cinemac Inc) has distributed in the territory of Latin America over 100 titles, including successful films like Academy Award winner Crash, Brokeback Mountain, The Eye, Hostage, Vanity Fair, The House of the Spirits and The House of Flying Daggers.
"I am excited to begin pre-production on this project in Cartagena as we have developed, researched and prepared for the filming of this project in this beautiful city and unique location," said Dean Hamilton-Bornstein, Empire C.E.O. "Havana Heat" is an action adventure story about an ex-secret service agent who is called back into service on special assignment on the Island of Cuba. To benefit from tax incentives, currency exchange rates and lower production costs, the project will be filmed on location in Cartagena, Colombia which closely resembles and will double for Havana.
|
