For Tuesday, November 8th
CICN, OPXA, MSSR, KENT, UPST, ALTO
Our Stocks to Watch today include Cicero Inc. (OTCBB: CICN), Opexa Therapeutics Inc. (NASDAQ: OPXA), McCormick & Schmick’s Seafood Restaurants Inc. (Nasdaq: MSSR), Kent Financial Services Inc. (NASDAQ: KENT), Upstream Worldwide Inc. (OTCBB: UPST) and Alto Group Holdings Inc. (OTCBB: ALTO).
STOCKS TO WATCH
CICERO INCORPORATED (OTCBB: CICN)
"Up 66.67% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/CICN.php
Cicero Inc. provides solutions that enable business transformation of enterprise interactions across companies and government organizations. Cicero XM technology delivers this capability via an innovative combination of desktop integration, automation, presentation and analytics capabilities, built to transform customer interaction into the most powerful marketing and branding asset a company can own. Cicero stands out among other software solutions for its ease of configuration and change control eliminating up to 90% of the change control costs and time, providing the ability to deliver actionable intelligence through efficient combination of telephony and interaction data, and delivering immediate benefits with an ROI in less than 6 months.
CICN News:
August 24 - Cicero Inc. Appoints Tom Aiello Senior Vice President of Worldwide Sales
Cicero Inc. (OTCBB: CICN), a global leader in customer experience management and desktop integration solutions, today announced the appointment of Tom Aiello as Senior Vice President of Worldwide Sales. Aiello brings to Cicero more than 25 years' experience in technology sales in the contact center industry, driving revenue growth and increasing market leadership. In this new position he will play an integral role in shaping the company's business and market strategy as well as lead the sales team in direct and indirect channel sales.
Previously, Aiello most recently served as vice president of worldwide sales and marketing for Envision Telephony, Inc., a leading provider of software solutions for contact centers. He also served as senior director of sales and channel development at Aspect Software and as vice president of sales and channel development at CenterForce before it was acquired by Aspect. Prior to this position, Aiello led sales and marketing for RightForce, LLC.
"We are extremely pleased to have Tom join our team," said John Broderick, Chief Executive Officer at Cicero. "He is joining Cicero at an exciting time as we expand our footprint in the U.S. and globally. His experience demonstrates a track record of leading sales teams to success and driving revenue growth. "
"Cicero is in a unique position to actually help contact centers find process and application problems as well as fix the problems to reduce employee effort, decrease costs, and improve the customer experience," said Aiello. "It is rare to be able to sell a solution that can deliver so many benefits so quickly. I look forward to working with the team, helping our customers realize these benefits, and increasing our company's market leadership."
OPEXA THERAPEUTICS INCORPORATED (NASDAQ: OPXA)
"Up 39.05% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/OPXA.php
Opexa Therapeutics, Inc. is dedicated to the development of patient-specific cellular therapies for the treatment of autoimmune diseases. The Company’s leading therapy, Tovaxin, is an individualized cellular immunotherapy treatment in Phase IIb clinical development for Multiple Sclerosis (MS). Tovaxin is derived from T-cells isolated from peripheral blood, expanded ex vivo, and reintroduced into the patients via subcutaneous injections. This process triggers a potent immune response against specific subsets of autoreactive T-cells known to attack myelin and, thereby, reduces the risk of relapse over time. Data from the first Phase IIb clinical study showed compelling evidence that Relapsing Remitting MS patients treated with Tovaxin saw overall clinical, MRI, and immunological benefits over the placebo group, including statistical significance for decrease in the Annualized Relapse Rate (ARR), improvement in disability score (EDSS), and improvement in quality of life measures (MSQLI), as well as an excellent safety profile with no serious adverse events related to Tovaxin treatment.
OPXA News:
November 8 - Opexa’s Tovaxin® for the Treatment of Multiple Sclerosis Granted Fast Track Designation by FDA
Opexa Therapeutics, Inc. (NASDAQ: OPXA), announced that its lead drug candidate Tovaxin® has been granted Fast Track designation by the U.S. Food and Drug Administration (FDA) for the treatment of patients with Secondary Progressive Multiple Sclerosis (SPMS).
The FDA's Fast Track program is designed to facilitate the development and expedite the review of drugs intended to treat serious or life-threatening conditions and that demonstrate the potential to address unmet medical needs. According to the FDA, products with a Fast Track designation often receive priority review, which may offer a significant benefit in that, historically, the review time of a priority product is almost half that of a standard review. Additionally, as per the FDA, Fast Track priority review products are more likely to be approved on the first review cycle than those without the designation. Fast Track also entitles Opexa to more frequent interactions and dialogue with the FDA, further benefiting the development of Tovaxin.
“Patients with progressive forms of multiple sclerosis (MS) are faced with no proven effective treatment options, so the Fast Track designation for Tovaxin is meaningful as it should enable Tovaxin to move more rapidly through the regulatory process, once it is proven to be efficacious,” commented Dr. Mark Freedman, M.D., FRCP, FAAN, Professor of Medicine at the University of Ottawa and Director of the Multiple Sclerosis Research Unit at the Ottawa Hospital. “Novel therapies such as Tovaxin offer hope for patients with a diagnosis of progressive MS.”
"The receipt of Fast Track designation from the FDA represents an important step in our strategy to advance Tovaxin through the clinical and regulatory process," said Neil K. Warma, President & Chief Executive Officer of Opexa. "We look forward to working closely with the FDA throughout the process as we recognize the need to develop a new, efficacious therapy to serve Secondary Progressive MS patients and realize the benefit Tovaxin could offer. Based on this positive FDA milestone, our encouraging data in SPMS and supportive discussions with key opinion leaders, clinicians and patients, we have accelerated our plans for SPMS and are planning to initiate a Phase IIb clinical trial with Tovaxin in SPMS subject to securing the necessary resources, while remaining committed to further advancing Tovaxin in Relapsing Remitting MS at a later date. For Opexa, moving forward in progressive MS, an area which we believe represents a higher unmet medical need, could further differentiate the company and Tovaxin from other MS treatments.”
SPMS is characterized by a steady accrual of irreversible disability, despite, in some cases, reversible relapses, remissions, or clinical plateau. Only one product is currently approved in the United States specifically for the indication of SPMS. Opexa believes that a significant unmet medical need exists for the safe and effective treatment of SPMS.
MCCORMICK & SCHMICK'S SEAFOOD RESTAURANTS INCORPORATED (NASDAQ: MSSR)
"Up 28.06% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/MSSR.php
McCormick & Schmick's Seafood Restaurants focus on serving a broad selection of fresh seafood with a menu printed twice daily and featuring the signature "Fresh List" of 20 different varieties of fresh seafood, in addition to aged steaks, poultry, entrée salads and pasta. Each restaurant's chef contributes to the menu's unique and imaginative appeal by creating dishes tailored to regional tastes and their own talents. McCormick & Schmick's offers an inviting atmosphere and a high quality, diverse menu for everyone from casual diners, families and tourists to business travelers and special occasion diners.
MSSR News:
November 8 - McCormick & Schmick's Seafood Restaurants, Inc. to Be Acquired by Landry’s for $8.75 Per Share in Cash
McCormick & Schmick’s Seafood Restaurants, Inc. (Nasdaq: MSSR) announced that it has signed a definitive agreement with Landry’s, Inc. whereby Landry’s MSA Co., Inc., a subsidiary of Landry’s, will acquire all of the outstanding shares of McCormick & Schmick's for $8.75 per share in cash, for a total equity value of approximately $131.6 million. Landry’s will finance the transaction through a combination of cash and debt, for which it has arranged financing, and expects to close the transaction in late December 2011 or early January 2012.
Under the terms of the agreement, which has been unanimously approved by the McCormick & Schmick’s Board of Directors, Landry’s will commence a tender offer no later than 10 business days from the date hereof for all outstanding common stock of McCormick & Schmick’s for $8.75 in cash. The consideration represents a premium of approximately 29% to McCormick & Schmick’s closing stock price on Monday, November 7, 2011, and a premium of approximately 31% to the average 90 day trading price of $6.69.
“After a broad and comprehensive evaluation of strategic alternatives, the McCormick & Schmick’s Board of Directors concluded that the sale of the Company to Landry’s will provide substantial and immediate cash value for our stockholders,” said Douglas Schmick, Chairman of the Board of Directors. “I’d like to thank the Board and management team for their contributions during the review over the past several months, and our talented employees for their hard work and dedication to serving our customers. We continue to believe that McCormick & Schmick’s has a bright future and that its seafood restaurants will thrive as a strong member of Landry’s family of restaurants. Our current emphasis on facility upgrades, concept evolution and a renewed commitment to local products, marketing and culture will remain a corporate focus.”
The closing of the tender offer is subject to certain conditions, including the tender of a number of McCormick & Schmick’s shares that, together with shares owned by Landry’s, represents at least a majority of the total number of McCormick & Schmick’s outstanding shares, the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and other customary conditions.
Upon the completion of the tender offer, Landry’s will acquire all remaining shares of McCormick & Schmick’s through a second-step merger.
Piper Jaffray & Co. is serving as financial advisor to McCormick & Schmick’s, and Davis Wright Tremaine LLP, Kirkland & Ellis LLP and Morris, Nichols, Arsht & Tunnell LLP are serving as its legal counsel.
KENT FINANCIAL SERVICES INCORPORATED (NASDAQ: KENT)
"Up 23.97% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/KENT.php
Kent Financial Services, Inc., through its subsidiary, Kent International Holdings, Inc., operates a social networking Web site, ChinaUSPals.com, which is designed to promote cultural exchange between the citizens of the United States and those of the People’s Republic of China. It also operates as a securities broker-dealer. The company was founded in 1955 and is based in Raleigh, North Carolina.
KENT News:
August 22 - Kent Financial Services Announces Subsidiary's Proposed Going Private Transaction
Kent Financial Services, Inc.’s ("Kent") (NASDAQ: KENT) majority owned subsidiary, Kent International Holdings, Inc. ("Kent International"), filed a Schedule 14C Preliminary Information Statement with the United States Securities and Exchange Commission (the "SEC") in connection with a proposed "going private" transaction.
The proposed transaction involves an amendment to Kent International's Articles of Incorporation to effect a one-for-950,000 reverse stock split. If implemented, fractional shares will be redeemed by Kent International for cash consideration of $2.50 per pre-split share.
UPSTREAM WORLDWIDE INCORPORATED (OTCBB: UPST)
"Up 28.57% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/UPST.php
uSell.com is The Consumer Cash Commerce Platform™. uSell finds the highest cash offers from top-rated buyers for your cell phones and electronics — and everybody needs extra cash. uSell’s 100% Max Cash Guarantee™ ensures you get the most cash or we’ll pay the difference. uSell is a subsidiary of Upstream Worldwide, Inc., a publicly traded company headquartered in Ft. Lauderdale, FL. The Consumer Cash Commerce Platform and Max Cash Guarantee are Trademarks of uSell and Upstream.
UPST News:
September 13 - uSell’s Consumer Cash Commerce Platform™ Expands with CellItUsed
Consumers looking to quickly generate cash for their electronics search uSell.com for top cash offers
Upstream Worldwide, Inc. d/b/a uSell.com (OTCBB: UPST), The Consumer Cash Commerce Platform™, today announced that it began displaying offers from CellItUsed, an established and trusted company in the electronics buy-back, reCommerce marketplace. Through uSell’s website, consumers can search for the cell phones and electronics they are looking to sell, and uSell will instantly find the highest cash offers from top-rated buyers.
“uSell is committed to providing consumers with much needed cash for their unwanted electronics. In today’s economic times, uSell.com is a resource to quickly, conveniently and securely receive extra money by selling unwanted gadgets for top dollar,” said Douglas Feirstein, Co-Founder and CEO of uSell. “We will continue to grow and build uSell with partners that provide excellent customer care, competitive cash offers and have a positive environmental impact,” added Feirstein.
CellItUsed always provides free shipping and shipping materials. Customers can choose to print a pre-paid shipping label or can have free shipping materials mailed to them. Plus, CellItUsed ensures quick payment by sending customers a personalized pre-paid VISA debit card that can be used anywhere VISA is accepted.
“Since 2005, CellItUsed has been committed to providing an eco-friendly avenue for consumers to sell their used electronic devices. We are pleased to partner with uSell – a company that shares our vision,” said Vince Miriello, Co-founder and CEO of CellItUsed.com.
The addition of CellItUsed to the uSell Consumer Cash Commerce Platform gives customers even more choices for selling their used phones and electronics. And no matter which partner customers choose, uSell’s 100% Max Cash Guarantee™ ensures that they get the most cash for their items or uSell will pay them the difference. uSell is convenient and secure, and helps consumers avoid the hassle and risk of peer-to-peer sales channels such as eBay and Craigslist.
ABOUT CELLITUSED.COM
CellItUsed.com, Inc. is one of the fastest growing electronics recycling companies in the world. Our “Get Paid to Upgrade” program provides you with a means of creating real value for those new and used cell phones and electronics. CellItUsed.com, Inc. will pay you cash for your used cell phones, iPods, and electronics. Our goal is to make the CellItUsed experience as easy and profitable for you as possible. We aim to offer the best prices, the fastest turnaround time, the best customer support, and the best customer experience possible. By giving people a quick and painless way to sell back or recycle their devices, CellItUsed.com hopes to help prevent e-waste and encourage people to live greener.
ALTO GROUP HOLDINGS INCORPORATED (OTCBB: ALTO)
"Up 50.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/ALTO.php
Alto Group Holdings Inc. engages in the acquisition and exploration of mineral properties in Africa and Latin America. The company primarily focuses on the exploration of gold and silver concessions. It owns interests in the Los Tres Machos concession that covers 1,000 hectares of staked and sampled mineral lands; and Zuna concession, which covers 750 hectares of staked and sampled mineral lands located in the state of Guadalajara, Mexico. The company also holds 70% of the rights to a mining concession in the Ashanti Belt of Ghana, West Africa. Alto Group Holdings Inc. was founded in 2007 and is based in South Jordan, Utah.
ALTO News:
September 30 - Alto Group Holdings Announces Change of Control
New CEO Given Controlling Voting Interest for 12-Month Period
Alto Group Holdings, Inc. (OTCBB: ALTO) (“Alto” or the “Company”) announced that Randall Appel, the newly-appointed Chief Executive Officer of the Company, has entered into a Shareholder Voting Agreement (“Agreement”) with Opiuchus Holdings, Inc. (“OHI”) whereby Mr. Appel has received a controlling interest in the Company’s voting shares. Opiuchus Holdings, Inc., a company owned by Mark Klok, the former CEO of the Company, is a holder of 100,000 Series B Preferred Shares which collectively hold an aggregate of 2,000,000,000 votes. Pursuant to the Agreement, OHI has transferred all voting rights of the Preferred Shares to Mr. Appel for a one-year period, which has enabled Mr. Appel, subject to certain exceptions contained in the Agreement, to unilaterally control the election of the Alto Board of Directors and the direction of the Company. The Preferred Shares carry no dividend, distribution, or other economic rights and are not convertible into Common Stock of the Company.
Commenting on the Agreement, Mr. Appel stated: “This Agreement represents an important part of the transition of the Company’s management and control that began a few weeks ago when I was appointed Chief Executive Officer. We expect that the effect of this Agreement will be increased investor confidence in the stability of the Company and its management, as well as increased confidence in the Company’s strategic direction. I look forward to moving ahead with a clearer demarcation of my ability to affect the Company in a positive manner and more effectively respond to the needs of our shareholders.”
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