MFLI, FWDG, AQUM, KORE
CRPZ, ITCD, PRPM, ITCJ, BFRE, IGSM
Our Stocks to Watch today include BRAVADA International Ltd. (OTC: MFLI), FutureWorld Energy Inc. (OTC: FWDG), Aquamer Medical / Aquamer Urban Agricultural Corp. (OTCBB: AQUM), Kore Nutrition Inc. (OTCBB: KORE), Convenience TV Inc. (OTCBB: CRPZ), ITC DeltaCom Inc. (OTCBB: ITCD), Propalms Inc. (OTC: PRPM), Infinite Technology Corp. (OTC: ITCJ), BlueFire Renewables Inc. (OTCBB: BFRE) and IGSM Group Inc. (OTC: IGSM).
BRAVADA INTERNATIONAL LIMITED (OTC: MFLI)
Detailed Quote: http://www.otcpicks.com/quotes/MFLI.php
Company Profile: http://www.otcpicks.com/Bravada-International.htm
BRAVADA International Ltd. is a leading edge media, women's fitness, health and lifestyle company that develops exciting brands through the development of internet and television media content. BRAVADA is dedicated to providing the highest quality of products, services and media that enriches and provides betterment for individuals both physically and emotionally. Through its dedication to quality, BRAVADA International delivers its products, services and media by empowering an individual through a positive experience and lifestyle through innovation.
September 30 - BRAVADA to Expand Its Women's Fitness Apparel Selections to Include Cotton, Cotton Blends, Cire and More as Well as Multiple Size Options as It Prepares for Its Expansion into Large Consumer Shopping Malls
BRAVADA International (OTC: MFLI) (www.BravadaWomen.com) announced that it is expanding its women’s fitness apparel line to include cotton, various cotton blends, cire and more as well as multiple sizing options in all of its product fabric categories. BRAVADA shall also continue to offer a one size women’s athletic wear product line in energizing and inspiring styles as well as basic solids and classic fashion activewear designs. The expanded BRAVADA women’s activewear collection is in preparation of its expansion of BRAVADA Women’s Athletica into large consumer retail malls.
In addition to offering multiple fabric options, BRAVADA is implementing a small, medium and large sizing scheme to most of its women’s activewear lines to provide consumers with maximum choice throughout its collections. The complete BRAVADA women’s fitness and athletic collection is being developed with a basic premise in mind, that women’s activewear transcends into virtually all daily activities. BRAVADA women’s fitness apparel has the look, comfort and fashion feel to be worn during common everyday activities such as shopping, lunch and daily errands as well as sweating up in the gym, Pilates or yoga class.
BRAVADA is about energy, being inspired and getting excited about being you. “BRAVADA culture” is uplifting and meant to put a skip into your step throughout your day but most importantly, it’s designed with the average woman in mind. BRAVADA’s motto is, “Get Excited About Being You!” and that’s the mission of every BRAVADA store.
BRAVADA is currently completing its final product mix and is expected to have its full women’s fashion activewear selections ready for its retail store expansion.
FUTUREWORLD ENERGY INCORPORATED (OTC: FWDG)
Detailed Quote: http://www.otcpicks.com/quotes/FWDG.php
Company Profile: http://www.otcpicks.com/FutureWorld-Energy.htm
FutureWorld Energy, Inc., a Delaware corporation, is a U.S. Diversified Energy Holding Company, listed on the Over the Counter exchange, which was formed to capitalize on the burgeoning markets in renewable and alternative energy technologies globally. FutureWorld Energy, together with its subsidiaries, focuses on the identification, acquisition, development, and commercialization of renewable and alternative energy technologies globally. Through established relationships with universities, research centers and government agencies, we strive to identify technologies on the leading edge of innovation that would contribute immensely to the global energy needs while protecting the future for our children and theirs.
September 28 - FutureWorld Energy Announces Availability of Solar Powered Air Conditioning System
FutureWorld Energy, Inc. (OTC: FWDG), a global provider of alternative, renewable and clean energy technologies, announced the availability of a solar powered air conditioning system for residential and light commercial applications.
Residential and small commercial A/C units often make up 70% of the electrical power consumption of a building. FutureWorld Energy's new CoolSolar series A/C systems cover up to 30% of this demand using a solar panel which is mounted next to the outdoor unit or on the roof of the building.
It is an ideal alternative energy solution in situations where the capital expense has to be limited to achieve a low ROI. The solution is not based on photo voltaic panels, as these are too expensive to achieve a ROI below 10 years. It complements solar thermal solutions which are thermally more efficient, but installation-wise often too complex for residential applications.
First installations of the CoolSolar 7000 are expected in October 2010.
AQUAMER MEDICAL CORPORATION (OTCBB: AQUM)
(Company will soon be changing its name to Aquamer Urban Agricultural Corporation)
Detailed Quote: http://www.otcpicks.com/quotes/AQUM.php
Company Profile: http://www.otcpicks.com/Aquamer-Urban-Agricultural.htm
To conduct its urban indoor farming business, Urban Agricultural will be utilizing TerraSphere's proprietary system of vertically stacked growing trays that precisely controls light, temperature, water and nutrition to grow fruits and vegetables indoors. These systems are automated, software driven and sensitive to environmental concerns.
Aquamer believes that the market for urban indoor farming is significant. It is estimated that by the year 2050 the world's population will increase by an additional three billion people to well over nine billion inhabitants, with as much as 70 percent of the world's population living in cities or urban areas by 2050, up from 49 percent today. Considering that only about 10 percent of the earth's land is arable, and that more than 80 percent of this agriculturally suitable land is already being exploited, it is projected that there will not be enough horizontal growing space to feed this substantially increasing population. For decades, humans have increasingly sought the economic and physical protection offered by urban centers, but our food production has primarily remained outside these locations where it is subject to the whims of the environment. Urban indoor farming offers the promise of feeding an increasingly hungry world in a highly productive and environmentally friendly manner.
Urban Ag's goal is to promote the sustainable consumption of natural resources through clean technologies, to demonstrate environmentally and socially responsible business practices and to provide good jobs to empower a diverse community-based workforce while at the same time creating shareholder value. Urban Ag's farming activities will offer consumers a healthy, local, sustainable, eco-friendly alternative to large-scale industrial farming, which is highly dependent upon the use of agricultural fertilizers, herbicides and pesticides that may be harmful to consumers and both the agricultural products themselves and also the environment in which they are grown. TerraSphere has provided data showing that its patented vertical farming technology reduces water consumption through a highly efficient closed loop design that requires up to 75 percent less water than conventional field agriculture watering practices. Using these techniques, Urban Ag expects to be able to produce over 50 pounds of product per square foot per year, utilizing a short growing cycle of approximately 42 days versus 50 days for average greenhouse production and as compared to up to 70 days for traditional farming methodologies.
Vertical farming offers a solution for increasing fruit, produce and herb production due to the high density production providing for a much reduced physical footprint and fewer resources relative to field agriculture. Vertical farming systems have the potential for increasing urban food supplies while decreasing the ecological impact of farming including a smaller carbon footprint due to the reduction in fuel required transporting product across the country. Urban Ag's system of pesticide and herbicide free production with closed loop systems that conserves water provides significant potential for the realization of environmentally sustainable urban food production.
August 17 - Aquamer Medical Corp. Announces Press and Investor Conference, NASDAQ MarketSite, Times Square
Media and Analysts Invited to Attend: CEO to Present Acquisition of Urban Agricultural, Corporate Directions and Exciting Future of Urban Farming Technology
Aquamer Medical Corp. (OTCBB: AQUM) ("Aquamer") announced a Media and Investor Conference. This conference follows on Aquamer Medical Corp.'s recent announcement of their acquisition of Urban Agricultural Corp. ("Urban Ag"), a privately owned company.
When: August 19, 2010, 1:00 PM EDT
Where: NASDAQ MarketSite, 4 Times Square, New York, NY
RSVP required for building security: E-mail
or call (917) 680-6011.
Aquamer intends to refocus its corporate energies and to rapidly expand Urban Ag's business of urban indoor farming, the environmentally friendly and sustainable urban production of healthy agricultural products under highly controlled, indoor conditions using advanced techniques and processes.
Senior executives will be available for interviews before and after the video conference. Please contact Bradley Smith, above, to schedule.
KORE NUTRITION INCORPORATED (OTCBB: KORE)
Detailed Quote: http://www.otcpicks.com/quotes/KORE.php
Company Profile: http://www.otcpicks.com/Kore-Nutrition.htm
Kore Nutrition Incorporated and the Company's wholly owned subsidiary, Go All In, Inc. is committed to producing premium energy drinks and an advanced purified water to suit the demands of the fast moving world of everyday life. Unlike traditional energy drinks, which can lack great taste and create energy ups and downs, ALL IN Energy is a premium product without sugar, carbs,or excess calories. Alternatively, it uses herbs, vitamins and amino-acids to provide a smooth, sustained sharpening of focus and pure energy. It comes in three unique and delicious flavors: Citrus, Grape, and RootBeer and now AcaiBerry.
September 15 - ALL IN Energy Expands Product Line with Introduction of Lollipop Line
Kore Nutrition Incorporated (OTCBB: KORE) ("Kore" or the "Company") and the Company's wholly owned subsidiary, Go All In, Inc. ("ALL IN"), are pleased to announce the addition of ALL IN Energy Lollipops to their current product line in the market.
Similar to ALL IN's Energy Drinks, the Company's Lollipops will have zero sugar, zero caffeine, and zero preservatives. The Company will initially launch three distinct flavors: Grape, Green Apple and Watermelon, that provide a health-energy alternative to current products on the market.
The hard candy category within the United States which includes lollipops and suckers, represents over $300 million in sales annually, and has seen impressive growth patterns over the past three years due to gourmet lollipops being offered in a wide array of shapes and sizes. As legislation continues to be passed regarding smoking bans in establishments around the country, lollipops are gaining in popularity as smoking cessation alternatives for smokers. All In Energy "POPS" will provide sustained energy, focus, stamina, and a great taste for all generations to come.
ALL IN's President and CEO, David Powley, noted that the Company is continuing to expand the product line while maintaining a health conscious focus that appeals to all ages and demographics, provides an alternative for juveniles, and also targets the estimated 285 million people who suffer from diabetes, as All In Energy products offer the only diabetic friendly products on the market in the energy drink or lollipop categories.
"Zero Sugar, Zero Caffeine and Zero Preservatives is ALL IN's continued focus as we expand the product line," said Powley. "We are committed to providing healthy alternatives in the energy drink, water and alternative markets that you will see ALL IN continue to expand into, such as our new ALL IN Energy Lollipops."
STOCKS TO WATCH
CONVENIENCE TV INCORPORATED (OTCBB: CRPZ)
"Up 3.33% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/CRPZ.php
Convenience TV is focused on the Convenience Store Industry and provides their clients with an "in-location" TV network. The Network is designed to deliver both entertaining content and targeted advertising on a demographic basis to each retail location. In addition, the Network delivers promotional advertising tied to products within the retail location. The programming can be up-dated quickly and is tailored to meet the specific clients' need for increased sales, customer enjoyment and brand reinforcement.
September 30 - Convenience TV Completes 6 Installations in Chicago
Convenience TV Inc. (OTCBB: CRPZ) announces that it has completed the installation of 6 locations in the greater Chicago area as part of its Eastern expansion.
Company President and CEO, Mr. Norman Knowles, said, "This is the first step into a major market in eastern United States. Chicago is the 3rd largest advertising market in the US and this expansion will hopefully help to increase our visibility to the national advertisers."
ITC DELTACOM INCORPORATED (OTCBB: ITCD)
"Up 101.38% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/ITCD.php
ITC DeltaCom, Inc. (Deltacom), headquartered in Huntsville, Alabama, provides, through its operating subsidiaries, integrated telecommunications and technology services to businesses and other communications providers in the southeastern United States. Deltacom has a fiber optic network spanning approximately 16,400 route miles (12,483 owned or controlled under IRU agreements), and offers a comprehensive suite of voice and data communications services, including local, long distance, broadband data, Internet connectivity, wireless voice and data services, and customer premises equipment. Deltacom is one of the largest competitive telecommunications providers in its primary eight-state region.
September 30 - EarthLink to Acquire ITC Deltacom
* Creates Leading IP Infrastructure and Solutions Company
* Deltacom's dense 16,400 mile fiber optic network in the Southeast with 35 metro fiber rings provides long-term strategic value
* EarthLink to maintain 16 cent quarterly dividend and retain financial flexibility for additional strategic growth opportunities
EarthLink, Inc. (Nasdaq: ELNK), one of the nation's leading Internet service providers, and ITC DeltaCom, Inc. (OTCBB: ITCD), a leading provider of integrated communications services to customers in the southeastern United States, today announced a definitive merger agreement under which EarthLink will acquire ITC DeltaCom (Deltacom) for $3.00 per share in cash. The transaction is valued at approximately $516 million, including assumption of $325 million in debt. The purchase price represents a multiple of approximately 4.7x Adjusted EBITDA (a non-GAAP measure, see definition in "Non-GAAP Information for EarthLink" below) for the twelve months ended June 30, 2010, including expected cost synergies and excluding one-time transaction costs.
The acquisition will enable EarthLink to create a leading IP infrastructure and solutions company by combining its existing ISP and IP-focused businesses with Deltacom's integrated communications business. Deltacom's 16,400 mile fiber optic infrastructure in the Southeast – over 75% of which is owned or controlled under Indefeasible Right of Use (IRU) agreements – includes a 14-state Synchronous Optical Network backbone with 35 metro fiber rings, 294 collocations and 20 voice and data switches. Deltacom currently serves over 32,000 small and mid-size businesses, multi-location enterprises, government agencies and wholesale customers in the southeast with services including Multi-Protocol Label Switching (MPLS) and IP-based products. Together, the companies will offer customers a comprehensive suite of Internet, telecommunications and managed services supported by an exceptional team of people focused on best-in-class customer care.
"As the demand for high-quality IP infrastructure continues to rapidly grow, we see a significant opportunity to focus these combined IP networking and managed service capabilities with our strong balance sheet to meet this increasing demand from enterprise level customers, wireless carriers, and multi-location national accounts while creating long-term value for our shareholders," said EarthLink Chairman and Chief Executive Officer Rolla P. Huff. "The capabilities we acquire with this acquisition will be complemented by our existing New Edge Networks business as we combine our nationwide MPLS network capabilities with Deltacom's state-of-the-art infrastructure. The combined company will be especially well positioned to serve Fortune 1000 companies across the country, one-quarter of which are headquartered in Deltacom's footprint. In addition, the Deltacom assets will enable us to further reduce our consumer ISP cost structure, which we believe will result in additional incremental cash flow from that business in years to come."
Randall E. Curran, Chief Executive Officer of Deltacom, added, "This transaction is attractive for our shareholders and represents a compelling opportunity for our employees, customers and suppliers. To compete successfully in today's marketplace, size and scale are very important. We are pleased to become part of a leading company with enhanced resources."
Added Huff, "This acquisition will position the company to provide leading edge IP solutions, while allowing us to continue to generate significant cash and retain the financial flexibility and capacity to invest in additional strategic opportunities. It also makes us unique in the industry, as we will be substantially under-levered and will continue to pay a dividend."
With the acquisition, EarthLink's employee ranks will grow from approximately 575 people to just under 2,000 people. The company will continue to be headquartered in Atlanta, GA, and led by Chairman and Chief Executive Officer Rolla P. Huff, President and Chief Operating Officer Joseph M. Wetzel, and Chief Financial Officer Bradley A. Ferguson.
EarthLink Year End 2010 Guidance Update
EarthLink also today updated its financial guidance for the full year 2010. EarthLink now expects 2010 Adjusted EBITDA of $207 million to $211 million; free cash flow (a non-GAAP measure, see definition in "Non-GAAP Information for EarthLink" below) of $193 million to $201 million, based upon the aforementioned Adjusted EBITDA guidance combined with $10 million to $14 million in estimated capital expenditures; and net income of $94 million to $97 million for the full year 2010.
EarthLink ended the second quarter of 2010 with $740 million in cash and marketable securities. EarthLink's share repurchase program has approximately $146 million available under the current authorization.
Pro Forma Financials
On a pro forma basis, for the 12-month period ended June 30, 2010, the combined companies would have generated approximately $1.1 billion in revenue, $588 million of which from its combined business services segments. During this time period, Deltacom generated $89 million in Adjusted EBITDA (a non-GAAP measure, see definition in "Non-GAAP Information for ITC DeltaCom" below). EarthLink expects to achieve annual cost synergies of approximately $20 million to be fully realized by the end of the second year after closing, including these synergies, and excluding one-time costs. EarthLink expects to achieve positive incremental operating cash flow within 12 months from the close of this transaction.
Deltacom has outstanding $325 million of 10.5% Senior Secured Notes due 2016 (the "Notes"). Under the related indenture, the closing of the merger will trigger a requirement that Deltacom offer to purchase any or all of the Notes at 101% of their principal amount. Notes not purchased in connection with the merger will remain outstanding as obligations of Deltacom and its subsidiaries.
Transaction Terms and Structure
The agreement provides for EarthLink's acquisition of Deltacom by means of a merger of a newly formed subsidiary with and into Deltacom, with Deltacom surviving as a wholly-owned subsidiary of EarthLink. The agreement contains customary representations, warranties, covenants and closing conditions.
Immediately following the execution of the merger agreement, funds affiliated with Welsh, Carson, Anderson & Stowe and Tennenbaum Capital Partners, LLC, who collectively own approximately 62% of Deltacom's outstanding shares of common stock, executed a written consent adopting the merger agreement. As a result, no further stockholder action will be required to adopt the merger agreement or approve the merger (although the merger agreement permits the board of directors of Deltacom to exercise termination rights in certain circumstances as required by its fiduciary duties). Deltacom will file with the Securities and Exchange Commission and mail to its stockholders, as promptly as practicable, an information statement describing the merger agreement and the merger.
The merger, which the boards of directors of both companies have unanimously approved, will be completed upon the satisfaction of several conditions, including receipt of required regulatory approvals from the Federal Communications Commission and certain state public utilities commissions and expiration or termination of the waiting period under the Hart-Scott-Rodino Act. Subject to the fulfillment of these conditions, the transaction is expected to close in the fourth quarter of 2010 or the first quarter of 2011.
Greenhill & Co., LLC acted as financial advisor to EarthLink, and King & Spalding LLP and Troutman Sanders LLP were its legal counsel. Evercore Partners acted as financial advisor to ITC Deltacom, and Paul, Weiss, Rifkind, Wharton & Garrison LLP was its legal counsel.
EarthLink will host a conference call to discuss the transaction today at 8:45 a.m. Eastern Time Those wishing to participate in the call should dial 800-706-0730 (U.S. and Canada) or 706-634-5173 (international) approximately 10 minutes prior to the start of the call and reference the "EarthLink Conference Call". A listen-only webcast will be available at http://ir.earthlink.net/index.cfm. A replay of the call will be available two hours after the call by dialing 800-642-1687 Passcode 15285501.
"EarthLink. We revolve around you™." A leading provider of IP services to consumers and businesses across the country, Atlanta-based EarthLink has earned an award-winning reputation for outstanding customer service and product innovation. The company's New Edge Networks subsidiary provides MPLS services to business customers nationwide.
PROPALMS INCORPORATED (OTC: PRPM)
"Up 25.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/PRPM.php
Propalms TSE, the complete Server-Based Management solution that extends Microsoft Terminal Services 2000/2003, offers features such as Application Publishing, Seamless Windows, Resource-based Load balancing, and Web-based consoles.
September 30 - Propalms, Inc. to Issue Stock Dividend to Its Shareholders as Announced in Its Nationwide Teleconference
Company Will Focus on Buying and Selling Revenue Generating Technology Companies
Propalms, Inc. (OTC: PRPM) announced during the Company's nationwide teleconference that its Board of Directors has approved a dividend of National Energy Services Co., Inc. common shares for shareholders of record as of November 3, 2010. Propalms shareholders are to receive 1 (one) share of restricted National Energy Services stock for every 30 (thirty) shares they own of Propalms as of the Record Date; no fractional shares shall be issued.
As a part of the teleconference, Owen Dukes, CEO of Propalms, was able to update the financial community on Propalms' new corporate strategy, the sale of its subsidiary Propalms Ltd. and what the impact of the sale will have on the Company and its shareholders. Robert Zysblat, President of Propalms, Inc., discussed the Company's new focus on buying and selling revenue generating technology companies and the name change Propalms has filed with FINRA to better reflect the Company's new corporate strategy.
Mr. Dukes and Mr. Zysblat explained the reasons behind the sale of Propalms Ltd. during yesterday's teleconference. Mr. Dukes stated, "It has always been our mission here at Propalms to increase shareholder value. Over the past few years management has become concerned about the stock price and feels it is our responsibility to improve the valuation for all of our shareholders." Robert Zysblat, President of Propalms, Inc., explained that Propalms Ltd. generated less than half a million dollars in revenues for the six month period ending July 31, 2010. In addition, Propalms Ltd. required significant new capital to expand. The sale of Propalms Ltd. enabled Propalms, Inc. to add $1 Million of National Energy Services Company, Inc. shares, an over the counter bulletin board company, to its asset base and reduce its liabilities by $1.3 Million. At the time of the sale, Propalms, Inc. improved its balance sheet by more than approximately 6 times the revenue it generated in the first six months.
Mr. Dukes also mentioned during the nationwide teleconference that through Propalms' new corporate strategy the Company will be focused on buying and selling technology companies that are already revenue generating and are in the need of a strong management team, global distribution network, and capital in order to "make it to the next level." He also explained how Propalms, Inc. has signed a letter of intent to acquire Acute Systems, a Florida based Technology Company, and expects to have the transaction completed within the next few weeks.
Mr. Zysblat announced that Propalms will be issuing a dividend of National Energy Services Co., Inc. stock to Propalms Inc. shareholders as well as a continuing plan to issue a dividend with every new spinoff. He also mentioned his focus under the new corporate strategy will be looking at select number of quoted technology companies that Propalms may take a financial interest in. If the Company believes that the share price is undervalued and we can see potential growth, Propalms may consider to add input to the companies if the occasion requires.
Mr. Zysblat went on to explain the reasoning behind Propalms' filing for its recent name change during the teleconference. Mr. Zysblat stated, "Propalms, Inc. has adopted this new corporate strategy; it was better that the company had a name to better reflect this strategy and cause less confusion." Propalms, Inc. has registered its new domain name, made the required changes under the State of Nevada amendments and received its new CUSIP number. The Company is waiting to hear from FINRA on the exact date of the name change, but we will keep its shareholders up to date on any and all changes.
"We are extremely excited about the implementation of our new corporate strategy and are looking to grow our revenue significantly in the near future," stated Owen Dukes, CEO of Propalms, Inc.
INFINITE TECHNOLOGY CORPORATION (OTC: ITCJ)
"Up 20.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/ITCJ.php
Infinite Technology Corp. is a fitness and nutrition based company in Irving, Texas that is launching a new line of nutritional supplements in September 2010. Infinite Technology markets the products at vendor display booths at bodybuilding, powerlifting and fitness competitions along with social networking sites to build brand awareness. We will be sponsoring several world class athletes to market the products and help create brand awareness.
September 15 - Infinite Technology Corporation Secures Pre-Launch Distribution for Custom Sports Supplement Line
Infinite Technology Corporation (OTC: ITCJ) CEO Amy Lawrence confirms today that the company has secured a non-exclusive distributor for its custom sports supplement line, to be launched later this month.
The provider, a National distributor of fitness gear with a focus in power lifting, has agreed to distribute Infinite's products via internet and act as partner representing the product line at trade shows throughout the country. The company has a national consumer base and will market the products in line with the Infinite brand toward additional, mutually beneficial, distributor agreements.
"Steps like these are what will set us for an impactful launch out of the gates," states Lawrence. "Our line is progressive with industry market demand increasing, as nutritional products and sports supplements become more and more a perceived necessity than a luxury item. Our research finds an increasing number of people from every demographic looking into sports supplements, many of which, in addition to their core function, have ancillary benefits of anti-aging, brain function and body cleansing."
Recent findings by BCC research shows that the global market for sports nutrition products has increased progressively over the last 3 years and it should reach $91.8 billion by 2013, seeing a compound annual growth rate (CAGR) of 24.1%. As well, sports food currently represents the second-largest market segment, generating $1.8 billion in 2007 and an estimated $1.5 billion in 2008. This should reach $2.5 billion in 2013, a CAGR of 10.8%.
"This is key, to have our products reviewed favorably prior to market. Having strategic marketing partners at this stage in the game sets the stage for success and we are confident this relationship will provide good initial market exposure toward further market permeation," concludes Lawrence.
News to come on the company's official website, trade show attendance and product details as it prepares for launch.
BLUEFIRE ETHANOL FUELS INCORPORATED (OTCBB: BFRE)
"Up 26.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/BFRE.php
Bluefire Ethanol Fuels, Inc., a development stage company, focuses on the development, ownership, and operation of carbohydrate-based transportation fuel plants to provide an alternative to fossil fuels. The company's bio refineries would convert organic materials, such as agricultural residues, biomass crops, wood residues, and cellulose in municipal solid wastes into ethanol. It also intends to provide professional services to such facilities. The company was founded in 2006 and is based in Irvine, California.
September 27 - BlueFire Renewables Signs 15 Year Feedstock Supply Contract for Fulton, MS Cellulosic Ethanol Facility
BlueFire Renewables, Inc. (OTCBB: BFRE), a company focused on changing the world's transportation fuel paradigm through the production of renewable fuels from non-food cellulosic wastes, announced a contract with Cooper Marine & Timberlands to provide feedstock for BlueFire's planned cellulosic ethanol facility in Fulton, MS for a period of up to 15 years.
Under the agreement, Cooper Marine & Timberlands ("CMT") will supply BlueFire's Fulton, Mississippi project with all of the feedstock required to produce approximately 19-million gallons of ethanol per year from locally sourced cellulosic materials such as wood chips, forest residual chips, pre-commercial thinnings and urban wood waste such as construction waste, storm debris, land clearing; or manufactured wood waste from furniture manufacturing.
"This agreement is another significant step forward for BlueFire and we are excited to have CMT's participation in our Fulton Project. Coupled with our recently-announced off-take agreement with Tenaska BioFuels, LLC, the key input and output contracts required for financing are now resolved," stated Arnold Klann, CEO of BlueFire Renewables, Inc. "This is a very exciting time for BlueFire Renewables as we complete the final steps to bringing cellulosic ethanol to fruition in the U.S. marketplace."
Under the Agreement, CMT will pursue a least-cost strategy for feedstock supply made possible by the project site's proximity to feedstock sources and the flexibility of BlueFire's process to use a wide spectrum of cellulosic waste materials in pure or mixed forms.
Cooper Marine Timberlands (CMT), with several chip mills in operation in Mississippi and Alabama, is a member company of Cooper/T. Smith one of America's oldest and largest stevedoring and maritime related firms with operations on all three U.S. coasts and foreign operations in Central and South America.
"Responsible biomass production has an important role to play in improving the state of local economies. We look forward to utilizing our extensive experience in biomass feedstock procurement and logistics in establishing a sustainable biomass feedstock supply chain for BlueFire's Fulton Project," stated Phil Willingham, Executive Vice President of Cooper Marine and Timberlands.
The Fulton, MS project will put to work Mississippi's significant biomass resources to create economic development and job creation in Mississippi. It will establish the platform for developing American energy self-sufficiency from readily available local resources.
IGSM GROUP INCORPORATED (OTC: IGSM)
"Up 16.67% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/IGSM.php
Based in Florida, IGSM Group Inc. recently announced its intention to become a full reporting company and operate Digital Television Channels in Florida. In addition, IGSM recently acquired a Television Library of Programs. IGSM also offers a suite of E-Learning products as part of its Digital Services.
September 22 - IGSM Completes Audits
IGSM Group Inc. (OTC: IGSM) announced that it has completed the two year financial audits in connection with its intention to become a full reporting company.
"It's finally completed," said H. Francis Fytton, CEO of IGSM. "I am pleased to announce the completion of the Consolidated Financial Statements for the periods ending December 31, 2009 and 2008. These are now published on PinkSheets.com. Our next step is the filing of the necessary SEC documents to become a full reporting company. We have already started this process by preparing documents and working with our attorneys. It's now full speed ahead on completing our filing," H. Francis Fytton, CEO of IGSM, added in closing.
Full reporting companies are required to file documents with the Securities and Exchange Commission in addition to providing fully audited financial statements. The OTCBB requires companies to be fully reporting.