Thursday, November 6th
RNNM, BSTI, GCHK, PHFB, PGOG
PMRY, KERX, DATA, CPPD, CENV
Our Stocks to Watch today include Ronn Motor Company Inc. (OTC: RNNM), Brite-Strike Tactical Illumination Products Inc. (OTC: BSTI), GreenChek Technology Inc. (OTCBB: GCHK), Phantom Fiber Corp. (OTCBB: PHFB), Perf Go Green Holdings Inc. (OTCBB: PGOG), Pomeroy IT Solutions Inc. (Nasdaq: PMRY), Keryx Biopharmaceuticals Inc. (Nasdaq: KERX), DATATRAK International Inc. (Nasdaq: DATA), Circa Pictures & Production International Inc. (OTC: CPPD) and Certified Environmental Group Inc. (OTC: CENV).
RONN MOTOR COMPANY (OTC: RNNM)
"Up 25.00% in morning trading"
Headquartered in Austin, Texas, Ronn Motor Company, Inc. is a design and manufacturing company focused on the leading edge engineering of environmentally friendly, finely built premium automobiles and technology. These technology systems include Hydrogen Fuel, Fuel cells, and Plug in-electrics will be incorporated into our automobiles and made available for aftermarket applications. Our products, coupled with RMC's core values of a strong sense of ethics, environmental sensitivity and premium quality, position the company as one of the new leaders in an automotive industry transitioning toward fuel efficiency.
November 6 - Ronn Motor Company Signs Letter of Intent With SCS/Frigette for Manufacturing and Global Distribution of the H2GO™ Real-Time Hydrogen Injection System
Exclusive Manufacturing and Distribution Rights With Frigette, a Global Distributor of Automotive Aftermarket Products to Be Finalized; Sales Estimated at One Million Units for First Three Years
Ronn Motor Company, Inc. (OTC: RNNM) announced that the Company has signed a Letter of Intent with SCS/Frigette, located in Ft. Worth, Texas, for the manufacturing and distribution of its proprietary H2GO™ Real-Time Hydrogen Injection System.
Ronn Maxwell, CEO of Ronn Motor Company, said, "SCS/Frigette is recognized as a leader in the automotive industry and their manufacturing and distribution network is a perfect match for Ronn Motor Company and its H2GO system."
SCS/Frigette is an OE supplier of air conditioning equipment to many vehicle manufacturers and has been recognized as a top tier vendor. Additionally, SCS/Frigette is a supplier of custom air conditioning systems for trucks, vans and recreational vehicles along with cruise controls, power windows, power door locks and security systems.
Frigette ships to nearly 170,000 locations nationwide that use parts either directly or indirectly manufactured by Frigette and distributed through their nine regional distribution centers nationally. This distribution network, developed over more than 40 years, will give the H2GO system access to a national footprint immediately. Additionally, Frigette will give H2GO a global presence with distribution networks already in place in Europe and in the countries of India, China, and Russia.
Phillip Kreymer, Director of Marketing for Frigette, stated, "Sales of one million units over three years is easily within our manufacturing & distribution capabilities, at the suggested retail price of $999.00. This would produce revenues in the one billion dollar range."
Robert B. Kreymer, President of Frigette, commented, "Once again, we are truly ecstatic about working with Ronn and his team. On previous occasions, we have partnered with Ronn Maxwell with a number of his designed, developed and patented products. Over the years we have established a relationship with a proven track record that has consistently provided and demonstrated positive results."
COO of Ronn Motors, Damon Kuhn, added, "SCS/Frigette has several support companies that specialize in metal fabrication, electronics, circuit board supply and vacuum formed plastics that align nicely with our needs for the H2GO system. Their network of nine regional distribution centers and over 5,000 distributors and key installers will enable our fuel saving system to be easily accessed by all consumers."
Ronn Motor Company is finalizing the contract with Frigette for manufacturing, sales and distribution of the H2GO system. Frigette is the largest aftermarket supplier of automotive a/c systems, a/c parts, including many Original Equipment vehicle manufacturers such as General Motors, Ford, Honda, Isuzu, Jaguar, Mazda, Nissan, and Subaru, and has been awarded the coveted "Q1 Supplier Award" by Ford Motor Company and the "First Team Supplier Award" by Nissan Motors of America. They also supply products to thirty-nine (39) OEM Recreational Vehicle manufacturers.
SCS/Frigette quality control standards have been approved by Chrysler Motors, Ford Motor Company, General Motors, Honda, Hyundai, Isuzu, Jaguar, Mazda, Nissan, Saturn, Subaru, GAZ, VAZ, and Volvo.
Ronn Motor Company has the H2GO system at the SEMA show November 4th - 7th in Las Vegas, installed in its popular Scorpion™ eco-exotic super car. The Scorpion will utilize the H2GO system along with gasoline or ethanol to power the twin turbo V-6 speedster.
Mr. Maxwell continued, "We want to bring this technology to the forefront and believe that offering the H2GO system to the general market will have the most immediate financial impact to our Company, reduce foreign oil imports and help clean up the environment."
BRITE-STRIKE TECHNOLOGIES INCORPORATED (OTC: BSTI)
"Up 11.11% in morning trading"
Brite-Strike Tactical Illumination Products, Inc. was started by two police officers to create world-class tactical LED flashlights that had the features that police officers and citizens need to keep them safe. Brite-Strike makes a promise to always use the latest technology, world-class components, highest design and manufacturing standards, so consumers can rely on Brite-Strike products when they are needed.
November 6 -
Brite-Strike Tactical Illumination Products, Inc.'s Personal Protection System to Be Featured in the Prestigious Frontgate Christmas Catalog
Brite-Strike Tactical Illumination Products, Inc. (OTC: BSTI) announced that its "Lightning Strike" Personal Protection System will be featured in Frontgate's national Christmas catalog, and that shipments for the initial order will begin this week. The product is also being carried at 28 BJ's Wholesale Club locations, which can be found at www.brite-strike.com.
"This product, for the money, may be the most effective defensive tool available for women today, particularly in preventing assaults and rapes," said Glenn Bushee, President of Brite-Strike. "The gift set includes a powerful, but compact, tactical flashlight, with the patented tactical touch hi-low-strobe switch, a leather holster, as well as a personal safety alarm, that can emit a shrieking noise of up to 125 db, and can be effective in warding off dogs and assailants. The package includes other accessories, and is packaged in a presentation gift box."
The company also announced that sales of its flagship model, the "Tactical Blue-Dot" flashlight, currently being featured in the Herrington Catalog, remain very strong, and are expected to significantly exceed last year's sales, even in this challenging economic environment. The company has been informed that its product is the top selling product in the catalog at that price-point. "In tough economic times, such as now, the number of robberies and assaults rise dramatically, which increases the demand for all our products," said Mr. Bushee, president of Brite-Strike.
In other news, the company announced that it had shipped its first order to the Pennsylvania Prison System, an area where the company see's significant growth opportunities. The company is also currently in discussions with one major national retailer for the placement of the "Lightning Strike," and is in late-stage testing with one branch of the US Military.
The company recently filed a Form 15 with the SEC. This form is in preparation for the company's financial audit, and intent to file as an SEC reporting company, with application to file for listing on the OTC BB the first half of 2009.
"We are extremely optimistic about the future of Brite-Strike. We feel the current share price dramatically undervalues the company, and its long-term growth prospects. We project dramatic increase in revenues over the next several years, both from our existing product line, as well as new products," said Mr. Bushee. "We appreciate our loyal shareholders, and in acknowledgement of their support, we would like to offer any shareholders ordering product through customer service, at 781-585-5509, a discount on all their purchases, with free gift-wrapping for all our customers for the holiday season."
GREENCHEK TECHNOLOGY INCORPORATED (OTCBB: GCHK)
GreenChek Technology, Inc. manufactures and distributes hydrogen injection technology devices that primarily focus on mobile transportation applications and industrial generative power applications. It also provides mobile greenhouse gas emissions reduction technology. The company's Onboard Hydrogen Generation and Injection technology is used for emissions reduction technology and fuel economy enhancement in trucks, locomotives, and automobile engines. It has operations in the United States, Canada, Asia, and Europe. The company, formerly known as Ridgestone Resources, Inc., was founded in 2006 and is headquartered in San Francisco, California.
November 6 -
GreenChek Achieves 19% to 21% Fuel Savings During In House Testing
GreenChek Technology Inc. (OTCBB: GCHK), a leading globally focused provider of hydrogen-based technology for mobile transportation and stationary power generation applications, announced today that they continue to achieve successful results through ongoing in-house testing of their Emission Reduction Device Technology.
GreenChek manufactures an emission reducing device simply known as the ERD 1.0, which can be retrofitted to any vehicle or combustible engine regardless of fuel source. This device reduces vehicle emissions as well as increases fuel economy.
“As we continue to test internally the ERD we are pleased the with the fuel reduction results,” said Donald Walling, GreenChek’s Chief Strategy Officer. “On every ERD 1.0 implementation we have noted significant improvements beyond the initial baseline testing. Average fuel savings of 19 to 21% have been achieved.”
PHANTOM FIBER CORPORATION (OTCBB: PHFB)
Phantom Fiber Corporation is a leading developer of wireless platform software that enables its customers to deliver high-performance applications across global communications networks to mobile users. The company's wireless platform extends the rich multimedia content and user experience of existing Internet web sites securely and instantly to over 1,500 mobile devices including cellular phones and PDAs. This platform is already deployed to most segments of the global gaming industry and can be used by enterprises seeking to implement high performance mobile applications in such markets as: remote video surveillance; banking and brokerage applications; as well as the logistics and distribution markets. Visit www.phantomfiber.com for more information about Phantom Fiber.
October 30 -
Mahjong Time Signs a Multi-Year Contract With Phantom Fiber Corporation to Create a Mobile Extension to Their Leading Online Mahjong Gaming Platform
Mahjong Time, the leading software provider for the online mahjong gaming community, announced a multi-year contract with Phantom Fiber Corporation (OTCBB: PHFB), a leading wireless transaction enablement company specializing in the gaming and entertainment sector. Under the terms of the deal, Phantom Fiber will receive an integration fee and will then share in the ongoing revenue generated from the mobile subscribers.
The integration will allow Mahjong Time to continue delivering the functionality, graphics and speed that users have come to expect from their industry leading software platform and internet offering to over 1,000 handset types. In addition to this, the mobile extension will also offer features that have established Mahjongtime.com as the number one online Mahjong community; these features include multiple game types, multiple languages, practice play, and tournament play. The mobile product will operate on hundreds of device types including Java phones, Apple iPhone, Blackberry, Palm, Microsoft Pocket/PC and Smartphone based handheld devices from anywhere in the world.
"We are quickly being recognized as the dominant mahjong provider in the online arena and we have a strong brand in the Asian market, but I think we all realize that the Asian market is a very mobile and technical savvy geographic area," said William Sutjiadi, CEO of Mahjong Time. "We knew it was a matter of time before we would have to provide a mobile solution. Choosing Phantom Fiber was easy. Their ability to provide the only mobile solution that works globally, their unprecedented support for handsets, and most of all their experience in mobile multi-user environments will ensure the success of this project."
Jeff Halloran, Chairman & CEO of Phantom Fiber, stated, "This agreement has a number of benefits for Phantom Fiber. We recognize the magnitude of the Asian market and their passion for Mahjong. Extending the premier Mahjong platform to a mobile environment will extend Phantom Fiber's reach into those markets. Our multi-user experience from the gaming space and our ability to support multiple languages also blends nicely with our technology. We have been talking with Mahjong Time for some time and have watched them grow in popularity and have some great successes. We are glad the time is right to work with Mahjong Time and share in those successes."
The solution will provide the game content in a number of formats. The player can play against the computer or fully interact with the online community. By using the same login credentials as the internet, a player can search for friends who may be playing online via the internet and join the same games and contests as any other internet player, only from their mobile device.
ABOUT MAHJONG TIME
Founded in 2004, Mahjong Time is a San Diego-based company that is the premier provider of mahjong software and complete turnkey solutions. The Mahjong Time in-browser platform is available in seven languages and provides multiple mahjong rules sets that appeal to the needs of discerning players worldwide. Offered features include advanced subscription and tournament play, and Web 2.0 capabilities that allow players greater connectivity including the ability to establish multiple "friend" networks and to create private game rooms.
Mahjong Time is the exclusive online tournament partner of the annual World Series of Mahjong. The company is also involved in a strategic partnership with Cryptologic, the leading public developer and supplier of Internet gaming software. For more information, visit www.mahjongtime.com.
PERF GO GREEN HOLDINGS INCORPORATED (OTCBB: PGOG)
Perf Go Green Holdings, Inc. is engaged in the creation and global marketing of 100% eco-friendly, non-toxic, food-contact-compliant, biodegradable plastic products. All Perf Go Green products are made from recycled plastics and completely break down in landfill within two years, leaving no toxic or visible residue, as compared to other plastics that take hundreds of years. Perf Go Green’s corporate name reflects its “Go Green” mission to develop, market and distribute biodegradable plastic products as a practical and viable solution to eliminating plastic waste from the world environment.
October 28 - Perf Go Green Adds Leading Supermarket Chain Hy-Vee, Inc. to Distribution Network
Perf Go Green Holdings, Inc. (OTCBB: PGOG) (“Perf Go Green”), a marketer and distributor of biodegradable plastics, announced a distribution agreement with Hy-Vee, Inc. One of the top 30 supermarket chains in the U.S., Hy-Vee operates more than 224 retail stores in the Midwest.
“Our agreement with Hy-Vee is another sign of the overwhelmingly enthusiastic reception retailers are giving our biodegradable plastic bags,” said Perf Go Green Chairman and CEO Tony Tracy. “We're especially excited about this new partnership because Hy-Vee is well-known for its commitment to sustainability and its leadership in bringing health and wellness to mainstream consumers. Perf Go Green's earth-friendly products offer a meaningful way for consumers, companies and their employees to reduce their environmental footprint.”
Perf Go Green will begin shipping its 13-gallon kitchen trash bags and its 30-gallon lawn and leaf bags to Hy-Vee in November 2008.
Founded in 1930, Hy-Vee, Inc. is an employee-owned corporation operating more than 224 retail stores in seven Midwestern states. For 2007 the company recorded total sales of $5.6 billion, ranking it among the top 30 supermarket chains and the top 50 private companies in the U.S.
Founded in November 2007, Perf Go Green premiered at the March 2008 International Home and Housewares Show in Chicago, where its products received an honor for their design quality and innovation. Perf Go Green is proud to be part of the nation's “go green” movement, which is poised to become a $500 billion market by 2009, according to Landor Associates.
Perf Go Green products incorporate recycled plastics that are combined with an Oxo-Biodegradable proprietary application method to produce the film for its bags. Based on environmental claims statements made by the manufacturer of the Oxo-Biodegradable applied to our bags, when discarded in soil and exposed to the presence of microorganisms, moisture and oxygen, we believe Perf Go Green products biodegrade within two years, decomposing into simple materials found in nature much faster than regular plastics, which can take hundreds of years to break down. Through this process and the use of recycled plastics, Perf Go Green effectively removes plastic waste from the environment. In addition, Perf Go Green trash bags utilize a unique patented dispensing system that stores the bags on the bottom of trashcans and dispenses them one at a time, similar to a tissue box.
POMEROY IT SOLUTIONS INCORPORATED (NASDAQ: PMRY)
"Up 10.49% in morning trading"
Pomeroy IT Solutions, Inc. is a leading provider of IT infrastructure solutions focused on enterprise, network and end-user technologies. Leveraging its core competencies in IT Outsourcing and Professional Services, Pomeroy delivers consulting, deployment, operational, staffing and product sourcing solutions through the disciplines of Six-Sigma, program and project management, and industry best practices. Pomeroy's consultative approach and adaptive methodology enables Fortune 2000 corporations, government entities, and mid-market clients to realize their business goals and objectives by leveraging information technology to simplify complexities, increase productivity, reduce costs, and improve profitability.
November 5 -
Pomeroy IT Solutions, Inc. Reports Third Quarter 2008 Results
Pomeroy IT Solutions, Inc. (Nasdaq: PMRY) an information technology ("IT") solutions provider with a comprehensive portfolio of hardware, software, technical staffing services, as well as infrastructure and lifecycle services, reported third quarter revenue of $145.2 million and net income of $1.8 million, or $0.15 per fully diluted share.
“We are very pleased to announce our second consecutive quarter of increasing profitability for the year. Our product margin percentages remained solid, but the volume of product sales declined sequentially and year over year due to purchase delays resulting from the challenging economic environment. Our technical staffing and infrastructure services profitability was comparable on sequential basis while generating substantially higher gross profit amounts than in Q3 last year. Our balance sheet remains strong reflecting $18.4 million of cash and equivalents with no outstanding debt, other than our floor plan financing, which positions our company well for opportunities that may materialize in the slowing economy,” said Keith Coogan, CEO and President of Pomeroy IT Solutions.
Third Quarter 2008 versus Third Quarter 2007
Total net revenues increased $815 thousand, or 0.6%, in the third quarter of fiscal 2008 as compared to the third quarter of fiscal 2007. For the third quarters of fiscal 2008 and fiscal 2007, the net revenues were $145.2 million and $144.4 million, respectively.
Product revenue was $87.4 million and $96.5 million, respectively, for the third quarters of fiscal 2008 and fiscal 2007. Product revenue decreased $9.1 million, a decrease of 9.4% in the third quarter of fiscal 2008 as compared to the third quarter of fiscal 2007. This decrease was primarily due to continued delays in product purchases and deployments in several financial services and manufacturing industry accounts as a result of the challenging economic environment.
Service revenue was $57.8 million in the third quarter of fiscal 2008 compared to $47.9 million in the third quarter of fiscal 2007, an increase of $9.9 million or 20.7% from fiscal 2007. The Company groups services revenue into Technical Staffing and Infrastructure Services. Technical Staffing Services support clients’ project requirements, ensures regulatory and customer compliance requirements and fulfills interim and permanent staffing requirements of the staffing projects. Infrastructure Services helps clients optimize the various elements of distributed computing environments. Encompassing the complete IT lifecycle, these services include desktop and mobile computing, server and network environments.
Technical Staffing revenue was $28.3 million and accounted for approximately 49.0% of total service revenues in the third quarter of fiscal 2008, compared to $19.9 million and 41.5% for the third quarter of fiscal 2007. This increase is primarily the result of recognizing revenue for the gross billings on personnel which historically have been recorded as fee based services in our vendor management business, as the Company has shifted from the use of subcontractors to employees.
We experienced a sequential decline of $3.3 million in technical staffing revenue in the third quarter of fiscal 2008 as compared to the second quarter of fiscal 2008 as a result of the announcement made in June 2008 that we elected to not renew a technical staffing services contract with a major customer because the terms they required meant this business would not be profitable for our company. We anticipate a continued decrease in technical staffing revenue in subsequent quarters as a result. We estimate technical staffing revenue will range between $9 million and $11 million in the fourth quarter of fiscal year 2008.
Infrastructure Service revenue was $29.5 million and accounted for approximately 51.0% of total service revenues in the third quarter of fiscal 2008, compared to $28.0 million and 58.5% for the third quarter of fiscal 2007. The increase in revenue is primarily the result of new service engagements started at the beginning of 2008, and incremental project related services during the quarter.
Gross profit was $18.3 million in the third quarter of fiscal 2008, compared to $14.9 million in the third quarter of 2007. Gross profit margin was 12.6% in the third quarter of fiscal 2008, compared to 10.3% in the third quarter of fiscal 2007.
Product gross profit was $8.5 million for the third quarter of fiscal 2008, compared to $9.1 million for the same period of fiscal 2007. The decrease in gross profit was due to decreased sales previously mentioned. Product gross profit margin increased to 9.8% in the third quarter of fiscal 2008, compared to 9.5% for the same period of fiscal 2007. This increase in gross profit margin is due to increased rebates associated with improved tracking of OEM partner promotional initiatives, and targeting more profitable product segments such as networking, server, storage, and peripheral products.
Service gross profit was $9.7 million for the third quarter of fiscal 2008, compared to $5.8 million in the third quarter of fiscal 2007. Service gross profit margin increased to 16.8% in the third quarter of fiscal 2008, compared to 12.1% for the same period of fiscal 2007.
Gross profit from Technical Staffing Services was $3.5 million for the third quarter of fiscal 2008, compared to $2.9 million for the third quarter of fiscal 2007. This increase of $0.6 million is primarily due to increased use of higher-margin Pomeroy employees on staffing projects. Gross profit margin decreased to 12.3% in the third quarter of fiscal 2008 from 14.3% in the third quarter of fiscal 2007. This decrease in gross margin is primarily the result of recognizing revenue at very low incremental margin for billings on subcontractor personnel which historically have been recorded as fee based services in our vendor management business.
Gross profit from Infrastructure Services was $6.2 million for the third quarter of fiscal 2008 compared to $2.9 million for the third quarter of fiscal 2007. Gross profit margin increased to 21.2% in the third quarter of fiscal 2008 from 10.5% in the third quarter of fiscal 2007. This increase in gross profit and margin is primarily the result of driving higher utilization of technical personnel, recent personnel reductions, and the renegotiation and/or termination of certain unprofitable contracts.
Total operating expenses were $16.2 million in the third quarter of 2008, compared to $118.3 million in the third quarter of fiscal 2007, a decrease of $102.1 million. During the third quarter of fiscal 2007, the Company finalized its annual goodwill valuation and recorded a goodwill impairment charge of $98.3 million, recorded a charge to write-off certain software assets and a change in the useful life of other existing software assets of $2.1 million, resolved several outstanding lawsuits, claims, costs for corporate matters including the contested Proxy solicitation of $0.7 million and recorded an increase to the trade receivable allowance account of $2.4 million. These decreases in operating expenses were offset by increases in operating expenses during the third quarter of fiscal 2008 primarily driven by an increase of $1.0 million in personnel-related costs, and related selling, general and administrative expenses, to support our product and service businesses in order to improve customer, vendor and back office support functions. We also recorded an increase to the trade receivable allowance account of $0.3 million and severance charges of $0.7 million.
Operating expenses as a percentage of revenue were 11.2% for the third quarter of fiscal 2008 compared to 81.9% for the third quarter of fiscal 2007. Excluding the goodwill impairment charge in the third quarter of fiscal 2007, operating expenses as a percentage of revenue were 13.8%.
Income (Loss) from Operations
Income from operations was $2.0 million in the third quarter of 2008, as compared to a loss of $103.4 million for the same period of 2007. This increase is a result of the increase in gross profit and decrease in operating expenses in the third quarter of 2008, as described above.
Net Interest Income (Expense)
Net interest expense was $225 thousand during the third quarter of 2008 as compared to $105 thousand during the third quarter of 2007. During the third quarter of 2008, the Company had amounts outstanding under its credit facility due to the timing of payments of accounts payables and payroll and collections of receivables. Additionally, during the third quarter of 2008, we corrected the accounting treatment for floor plan financing, resulting in the recognition of interest charges of $164 thousand for the third quarter of 2008 compared to $175 thousand for the same period in 2007. The 2007 amounts have been reclassified to reflect this correction. The change in treatment of the floor plan financing was made due to determining that the floor plan financing does provide us with a modest extension of the credit terms over what we might obtain directly with a supplier. We have therefore concluded that cash flows under the floor plan arrangement should be classified as a financing activity. As a result of this change in classification, certain amounts paid under floor plan financings have been charged to interest expense and were reclassified from cost of sales.
For the third quarter of 2008, the Company had no income tax expense or income tax benefit. During the third quarter of fiscal 2008, the Company decreased its tax valuation allowance by $0.7 million for a total allowance of $15.2 million at October 5, 2008. The tax valuation allowance results from the future uncertainty of the Company’s ability to utilize its deferred tax assets. For the third quarter of fiscal 2008, the $0.7 million decrease in tax valuation reserve offset what would have been an income tax expense; the effective income tax rate would have been 37.9% prior to recording the tax valuation reserve. The effective income tax rate for the third quarter of fiscal 2007 was 11.3% due to the effect of permanent differences, primarily goodwill impairment, in the calculation of federal income taxes for the period.
Net Income (Loss)
Net income was $1.8 million in the third quarter of fiscal 2008 as compared to a net loss of $91.8 million in the third quarter of 2007, resulting from the factors described above.
Other Third Quarter Financial Information
* Working Capital of $80.0 million
* Cash Flow Generated by Operating Activities was $14.0 million
* Cash, Cash Equivalents and CD's totaled $18.4 million
* Capital Expenditures of $0.2 million
* Outstanding Floor Plan Financing of $13.9 million
* Book Value per Share of $7.64
KERYX BIOPHARMACEUTICALS INCORPORATED (NASDAQ: KERX)
"Up 43.38% in morning trading"
Keryx Biopharmaceuticals is focused on the acquisition, development and commercialization of medically important, novel pharmaceutical products for the treatment of life-threatening diseases, including renal disease and cancer. Keryx is developing Zerenex(TM) (ferric citrate), an oral, iron-based compound that has the capacity to bind to phosphate and form non-absorbable complexes. Zerenex is currently in Phase 2 clinical development for the treatment of hyperphosphatemia (elevated phosphate levels) in patients with end-stage renal disease. The Company is also developing KRX-0401 (perifosine), a novel, potentially first-in-class, oral anti-cancer agent that modulates Akt, a protein in the body associated with tumor survival and growth. KRX-0401 also modulates a number of other key signal transduction pathways, including the JNK and MAPK pathways, which are pathways associated with programmed cell death, cell growth, cell differentiation and cell survival. KRX-0401 is currently in Phase 2 clinical development for multiple tumor types. The Company also has an in-licensing and acquisition program designed to identify and acquire additional drug candidates. Keryx is headquartered in New York City.
October 23 -
Keryx Biopharmaceuticals Notified that Nasdaq Has Extended Minimum Bid Price Rule Compliance Period
Keryx Biopharmaceuticals, Inc. (Nasdaq: KERX) announced that it has received notice from The Nasdaq Stock Market ("Nasdaq") stating that Nasdaq Marketplace Rule 4310(c)(4), which requires companies to maintain a minimum bid price of $1.00 per share, has been temporarily suspended. Based on this action, Nasdaq informed the Company that it now has until January 23, 2009, to achieve compliance with Rule 4310(c)(4).
DATATRAK INTERNATIONAL INCORPORATED (NASDAQ: DATA)
"Up 21.74% in morning trading"
DATATRAK International, Inc. is a worldwide technology company focused on the provision of multi-component eClinical solutions and related services for the clinical trials industry. The Company delivers a complete portfolio of software products that were created in order to accelerate clinical research data from investigative sites to clinical trial sponsors and ultimately the United States Food and Drug Administration (FDA), faster and more efficiently than manual methods or loosely integrated technologies. DATATRAK's eClinical software suite can be deployed worldwide through an ASP offering or in a licensed Enterprise Transfer model that fully empowers its clients. The DATATRAK software suite and its earlier versions have successfully supported hundreds of international clinical trials involving thousands of clinical research sites and encompassing tens of thousands of patients in 59 countries. DATATRAK International, Inc.'s product suite has been utilized in some aspect of the clinical development of 16 drugs and one medical device that have received regulatory approval from either the FDA or counterpart European bodies. DATATRAK International, Inc. has offices located in Cleveland, Ohio and Bryan, Texas.
October 30 -
DATATRAK International Management to Host Conference Call on November 6, 2008 to Discuss Third Quarter and Nine Month Operating Results for 2008
DATATRAK International, Inc. (Nasdaq: DATA), a technology and services company focused on global eClinical solutions for the clinical trials industry, announced that it will host a conference call to discuss third quarter and nine month operating results for 2008 at 4:30 p.m. ET on Thursday, November 6, 2008.
To participate via phone, participants are asked to dial 412-858-4600 a few minutes before 4:30 p.m. ET. The conference call will also be available via live web cast on DATATRAK International, Inc.'s web site by clicking the button labeled "Click here for Live Web Cast, 3rd Quarter Earnings Call" on the Company's homepage at www.datatrak.net a few minutes before 4:30 p.m. ET.
A replay of the phone call and web cast will each be available at approximately 6:30 p.m. ET on November 6, 2008 and will run until 9:00 a.m. ET on November 13, 2008. The phone replay can be accessed by dialing 412-317-0088 (access code 424446). To access the web cast replay go to the Company's homepage at www.datatrak.net and click the button labeled "Click here for Replay of Web Cast, 3rd Quarter Earnings Call."
CIRCA PICTURES & PRODUCTION COMPANY (OTC: CPPD)
"Up 14.29% in morning trading"
Circa is a rapidly emerging film and television production company. Circa Pictures currently have films and television projects in various stages of pre-production ranging from reality programs to original scripted projects (film and television.) These projects will be marketed to film distribution companies, DVD packagers, terrestrial and cable television networks and film and TV syndication companies across North America.
November 5 -
Circa Pictures to Sign Rob Nelson as Supervising Producer for Allison Legacy Racing Series
Circa Pictures and Production Intl., Inc. (OTC: CPPD) announced that producer and on-air TV personality Rob Nelson has agreed to join the staff of the Allison Legacy Racing series as Supervising Producer.
According to Constantine Papadopoulos, Circa's CEO and Frank Hagan, VP of Television, "We are very excited to have Rob Nelson coming on board. The Legacy Racing project will be an interview intensive program and Rob has experience as both Producer and Interviewer so we will be gaining a wealth of experience and talent by having him with us." As Frank Hagan said, "who better than an experienced talk show host and producer to handle the all important on-camera interviews for a program of this nature."
As host, Rob Nelson was seen on the Fox Syndicated Talk TV series "The Rob Nelson Show," "The Scholar" reality contest program on the ABC TV Network and "Second Verdict" for PAX-TV / NBC / Lion's Gate. He has helped create and produce a number of projects for various cable networks including Spike, E Entertainment and Showtime.
"Allison Legacy Racing: Real Cars, Real Kids, Real Racing" is in development and being successfully marketed to venues. Legacy Racers have an average age of 15 years who drive in real racecars (3/4 sized Nextel Cup Mazda based vehicles). The Allison Family is royalty in the world of Stock Car Racing and Kenny, Ronald and Donald Allison have continued their family legacy with the creation of the Legacy Racing circuit and the Legacy car. Recently, two former Legacy Racers, Joey Logano and Taylor Bayne both signed lucrative NASCAR contracts with Gibbs Racing and DEI respectively on or shortly after their 18th birthday. They credit their experience with Allison Legacy Racing for their training. The program will capture the essence of the other future young racers before some of them make their move into the pro circuit.
According to Rob Nelson, "From the first moment I heard about this project I wanted to be involved. The stories of the young men and women who sit behind the wheels of Allison Legacy Racers need to be heard, and I will make certain their voices, plans and goals to succeed are heard because that is what this show is all about..."
CERTIFIED ENVIRONMENTAL GROUP (OTC: CENV)
"Up 61.29% in morning trading"
Certified Environmental Group, Inc. provides various environmental services to residential, commercial, and government clients primarily located in the northeastern region of the United States. The company’s environmental services include lead-based paint management services, such as consulting, inspection, detection, sampling, testing, risk assessment, in-plant management, project monitoring, abatement, training, and turn-key operations; air quality services; and environmental site assessments to residential, commercial, and industrial real properties. It also offers asbestos abatement services to its clients or environmental projects. In addition, the company provides investigation, assessment, and remediation for all relevant hazardous substances in air, water, and soil. The company contracts with professional licensed entities to undertake remediation, removal, transportation, and disposal of hazardous materials. The company was organized under the laws of the State of Delaware in November 1992. Certified Environmental Group’s principal executive offices are located in Turnersville, New Jersey.
October 31 -
Certified Environmental Group Enters Joint Venture With Alzihad Group of Companies in a Six City Development Project
Certified Environmental Group, Inc. (OTC: CENV) announced its Canadian subsidiary Global Life Holdings Inc. has entered into a Joint Venture company with Alzahid Group of Companies soon to be operating under the name of Alzahid Global Life Builders, located in Saudi Arabia.
Alzahid Group of Companies (www.alzahidgroup.com) operating since 1951 has evolved as a multi-billion dollar group of companies. Innovative and visionary they are excited to partner with CEG to execute environmentally friendly solutions to providing drinking water, building and power infrastructures for six new cities.
Lin Armstrong Sharwood President of Certified Environmental Group, explained "the Saudi Arabian and Middle East economy is booming, the opportunities seem endless as entire infrastructures for water, power and building will have to be created. Joining forces with Alzahid Group is a huge opportunity for this company and our shareholders with revenue projections that are not typical for a company just entering the public market".
Certified Environmental Group through our Canadian subsidiary Global Life Holdings Inc. produces a unique building system and ISO manufactured water purification plants powered by solar and or wind energy, perfect for the Saudi environment. CEG will join forces with Alzahid Group in the construction of six brand new cities. Cost effective and modular, CEG offers custom solutions that will generate incredible interest and growth for the next 15 years.
President Lin Armstrong Sharwood is expected to visit Alazhid company executives in Saudi Arabia in the next few weeks and will update shareholders as events unfold.