For Tuesday, February 16th
TRDY, EMXC, WDRP, PFMS, PGNE, DNNC
Our Stocks to Watch tomorrow include Trudy Corp. (OTC: TRDY), eMax Holdings Corp. (OTC: EMXC), Wanderport Corp. (OTC: WDRP), PaperFree Medical Solutions Inc. (OTC: PFMS), PrimeGen Energy Corp. (OTC: PGNE) and Donini Inc. (OTC: DNNC).
TRUDY CORPORATION (OTC: TRDY)
"Up 300.00% on Friday"
Founded in 1947 as a stuffed toy manufacturer, Trudy Corporation today is a prominent publisher of educational story books, read along audiobooks and plush toy manipulatives under licenses with the Smithsonian Institution, American Veterinary Medical Association and the African Wildlife Foundation. It also holds "edutainment" novelty book and audiobook licenses with Disney Publishing Worldwide, Inc, and Sesame Workshop. The Company's Soundprints products may be found in school libraries, museums, zoos and aquaria flagged by their many Teacher's Choice, Parents Choice and Benjamin Franklin Awards. Studio Mouse is the leading publisher of book and audio novelty books distributed in warehouse clubs and the mass market. Over 35% of Studio Mouse and Soundprints products are sold internationally in 35 countries. The Company holds a Disney license in the Spanish language for Spain. Believing that educational manipulatives and an audio component to books are critical to developing reading skills and fostering literacy in schools and home, the Company bought MusicForLittlePeople.Com and the companion direct mail catalog in 2008 to build the Company's direct to consumer and library business.
December 18 - Trudy Corporation Announces a Definitive Purchase Agreement for Acquisition by MMAC, LLC of Substantially All the Assets of Trudy Corporation
Trudy Corp. (OTC: TRDY) announced that it had entered into a definitive Asset Purchase Agreement whereby Trudy would sell substantially all of its assets to MMAC, LLC, which also would assume certain liabilities of Trudy. Trudy Corporation is a publisher of children's educational story and novelty books, audiobooks and plush toys, doing business as Soundprints, Studio Mouse and Music for Little People.com and located in Norwalk, Connecticut.
Under the terms of the agreement, MMAC will assume substantially all of the secured and unsecured liabilities of Trudy with the exception of $2.7MM of personal debt owed to the principal shareholder and Chairman of Trudy, William W. Burnham. In consideration of the sale of substantially all of its assets, at Closing, Trudy will receive a note from MMAC to Trudy in the principal amount of $225,000 and an equity interest in MMAC, not to exceed 33%, determined in accordance with the net asset value of Trudy at Closing. In addition, loans from an affiliate of MMAC to Trudy, estimated to be $600,000 at Closing, will be assumed by MMAC at Closing. Substantially simultaneously with the Closing, Trudy will transfer the note and the equity interest in MMAC to William W. Burnham in consideration of the cancellation by Mr. Burnham of the personal debt owed by Trudy to Mr. Burnham, with the exception of up to $50,000 of debt owed to Mr. Burnham which will remain outstanding and which will be repaid to Mr. Burnham one year following the closing if and to the extent Trudy has not spent the $50,000 of cash it will retain at the closing for general corporate purposes.
Holders of Trudy's common stock will not receive any payment or distribution with respect to their shares pursuant to the sale of substantially all the assets to MMAC.
MMAC will also enter into a new four year lease with Noreast Management, LLC, a company that is 91% owned by Mr. Burnham, for Trudy's current headquarters on substantially the same terms as the current lease with Trudy.
Ashley Andersen Zantop, CEO and President of Trudy, Fell Herdeg, CFO, and William W. Burnham, Director of Corporate Development, will be retained as employees by MMAC on substantially the same terms as their current employment with Trudy. Mr. Burnham and Ms. Andersen Zantop will join the Board of Directors of MMAC.
Trudy's senior management intends to recommend to its Board of Directors that, after Closing, Trudy dissolve or enter into a transaction whereby the Trudy corporate shell may be sold. There is no assurance that a sale of the shell can be arranged.
The Asset Purchase Agreement and the transactions contemplated thereby have been approved by an Independent Committee of outside Directors of Trudy, by the Board of Directors of Trudy and by written consent of holders of a majority of the issued and outstanding shares of Common Stock of Trudy. The transaction is, however, subject to compliance with U.S. securities laws, including the preparation and filing with the Securities and Exchange Commission of an Information Statement which will be mailed to all of Trudy's shareholders for their information, as well as other closing conditions. A closing is expected in February 2010.
EMAX HOLDINGS CORPORATION (OTC: EMXC)
"Up 87.50% on Friday"
eMax Holdings Corporation (www.emaxcorp.com), recently renamed eMax Worldwide (www.emaxworldwide.com), is a diversified holding company investing in multimedia, entertainment, communication, broadcasting, technologies, real estate, energy and finance industries. You can reach eMax through there new toll free number which is 888-344-EMAX (3629).
February 12 -
eMax Worldwide, Inc. Retains the SEC Auditing Services of BAI-CPA.com
eMax Holdings Corp. (OTC: EMXC), recently renamed eMax Worldwide, Inc. announced that it has retained the services of Bongiovanni & Associates, Inc. to prepare the company's financial audits and to help further work towards meeting SEC fully reporting status for up-listing to OTCBB exchange as a fully reporting company.
Mrs. Roxanna Weber, CEO, stated, "We are very excited about the opportunity to work with BAI-CPA.com and their staff. This is one of our many administrative goals in growing our company. We feel that achieving fully reporting status on the OTC Bulletin Board Exchange will broaden our market exposure and add credibility to our company. We want our shareholders to have the confidence that the Company is continuously striving to reach their new goals.
ABOUT BONGIOVANNI & ASSOCIATES, INC.
"BAI-CPA" is a financial accounting firm whose principals have over twenty years' experience as accountants to the securities industry. Bongiovanni & Associates, CPAs, with three decades of productive client relationships, is firmly committed to building a long-term relationship with you through our team of accountants, attorneys, and paralegals, as well as our associations with many sources in the industry all work to fulfill our clients' different needs.
WANDERPORT CORPORATION (OTC: WDRP)
"Up 50.00% on Friday"
Wanderport Corporation is a holding and business development company specializing in the investment and deployment of environmentally friendly technology such as, primary alternative renewable energy and energy saving products like electric vehicles which reduce global dependence on oil.
February 12 -
Wanderport Signs Multi-Year Australian Distribution Agreement Valued at $50 Million
Wanderport Corp. (OTC: WDRP) announced that it has concluded a definitive sales and distribution agreement with Gavin Ovens Holdings PTY LTD., a leading international group specialized and certified in water treatment located in New South Wales Australia.
The sales agreement primarily involves Australia and New Zealand and is signed for a 5 year term. Sales commitments are being reviewed and negotiated but preliminary estimates are in the area of 10,000 units within the first year and the aggregate sales are valued at $50 million over a period of 5 years. This agreement is perfectly timed to coincide with Australia's new hot water strategy which began July 1st, 2009 to develop strategies to limit water and energy consumption by focusing specifically on improved water heater performance efficiency.
"The water heater industry in Australia is primed for Wanderport's cutting edge microwave energy water heater technology which we believe will dramatically change an industry heavily lacking in innovation," said Mr. Gavin Ovens, President and CEO of Gavin Ovens Holdings PTY LTD.
"We are very fortunate to be associated with Gavin Ovens Holdings PTY LTD. They are true professionals in water treatment and as such, will definitely synergize Wanderport with Australia's water waste management strategy. This sales agreement will undoubtedly assure us a large portion of the Australian water heater marketplace and create remarkable growth for Wanderport and its investors," stated Richard Martel, President and CEO of Wanderport.
PAPERFREE MEDICAL SOLUTIONS INCORPORATED (OTC: PFMS)
"Up 66.67% on Friday"
PaperFree Medical Solutions, Inc., through its subsidiaries, provides paper-free turnkey medical solutions for small to large multi-physician, and multi-specialty offices. It offers billing services under LEAPprn trade name. The company provides direct and managed services through a combination of direct and on-site implementation; and software services through broadband connectivity that helps in performing various data entry solutions. It also offers teeth whitening services. PaperFree Medical Solutions serves sole practitioners, doctors, and other health care providers in the Midwest. The company was founded in 2002 and is based in Kokomo, Indiana.
December 18 -
Michael J. Gelmon Resigns as Director and Officer of the Corporation
PaperFree Medical Solutions, Inc. (OTC: PFMS), a Nevada corporation (the "Corporation"), accepted the resignation of Michael J. Gelmon. Effective Dec. 17, 2009, he will no longer serve as director and officer of the Corporation.
The resignation was not motivated by a disagreement with the Registrant on any matter relating to the Registrant's operations, policies or practices.
PRIMEGEN ENERGY CORPORATION (OTC: PGNE)
"Up 33.33% on Friday"
PrimeGen Energy Corp. is an oil and gas exploration company whose primary focus is exploring and developing high potential unconventional resource plays. The Company's strategy and development assets are focused on a prolific and historic oil and natural gas resource play in Krasnoarmeiskome District, Saratovskoi Oblast in Russia. The Company is headquartered in Bridgewater, NJ and has offices in Moscow, Russia. PrimeGen Energy plans to use its comparative advantages in certain geographic regions to expand rapidly through strategic acquisitions of small oil and gas producing entities and production assets including wells, properties, operating equipment, and pipelines.
January 6 - PrimeGen Energy Strikes Oil in Rodnikovskogo Field With Initial Production Averaging 2,880 Barrels per Day
PrimeGen Energy Corp. (OTC: PGNE) ("PrimeGen" or the "Company") announces the initial production for the Rod 10-22, the second well at the Company's Rodnikovskogo, Russia, property. The well commenced commercial oil production on December 16, 2009, and the Company has received production results for the first 21 days. Total oil produced and sold was 60,480 barrels with an average daily production rate of 2,880 barrels per day.
The Rod 10-22 well is the second of a multi-well program drilled at Krasnoarmeiskome District, Saratovskoi Oblast in Russia by PrimeGen. The 2010 development program calls for the drilling of a minimum of 42 wells to develop the field. When fully developed, the 42 wells could yield a daily production rate at Rodnikovskogo of 110,000 barrels per day.
Using current pricing for Rodnikovskogo crude oil, PrimeGen has confirmed that the new well alone has generated $4.3 million in revenue or a projected $75.5 million per year. Currently, oil at Rodnikovskogo has been priced at over $72.00 per barrel.
The property is located in the Krasnoarmeiskome District, Saratovskoi Oblast in Russia, one of the most significant oil and gas regions in the country with advanced infrastructure and more than 60 years of oil and gas production history. Saratov lies in the European part of Russia and borders Kazakhstan, the largest oil producing country in Central Asia. The property covers an expansive area of approximately 250 sq. km.
Continuing 3D seismic data collection and analysis of the property is scheduled for 2010 and will be running concurrently with the drilling program. Several additional high potential drill targets have already been identified and will be further defined and evaluated for feasibility during the next phase of work on the property. The license is within a highly prospective region with existing oil production on adjacent licenses and the super-giant THK-BP gas field.
DONINI INCORPORATED (OTC: DNNC)
"Up 24.29% on Friday"
Donini, Inc., a New Jersey Corporation, was established in 2001 when the company acquired control by way of a reverse merger of Pizza Donini, a Canadian company that has been operating and licensing Italian style restaurants specializing in pizza and related products within the Greater Montreal Area in the province of Quebec for over 20 years. The Company has recently completed a consolidation of its operations by establishing two Canadian Subsidiaries, Donini Group Inc. and Pizzacorp DTC Franchises Inc., whose purposes are, respectively, to hold and control the intellectual property of the Company and to license the trademarks and oversee the licensed franchisees of the marks. The Company plans to expand its operations into the United States and the rest of Canada.
February 1 -
Donini Inc. to Expand Through Acquisition
Peter Deros, President of Donini, Inc. (OTC: DNNC) announced that the Company continues to refine its plans for expansion and will be reviewing the acquisition options as well as growing the current business in the United States in the next month. Mr. Deros explained that Donini will be concentrating only on its core business of the food industry.
Mr. Deros stated, "I believe that the best opportunities for growing the Company is through acquiring businesses that have a symbiotic relationship with the pizza and food service business to maximize revenue and profits. By adding businesses that are part of the industry, the Company will be able to gain economies of scale in the operations and offer additional items to its customers." He concluded by stating that Donini has identified several candidates and expects to enter into an agreement this quarter.
The Company's current business plans are being finalized for the receipt of the first tranche of funding which will be devoted to the planned upgrade of existing facilities.