For Wednesday, August 8th
CRMB, GGHO, SAPX, SHMX, SEED, MHYS
Our Stocks to Watch tomorrow include Crumbs Bake Shop Inc. (Nasdaq: CRMB), , Genesis Group Holdings Inc. (OTCBB: GGHO), Seven Arts Entertainment Inc. (Nasdaq: SAPX), Shamika 2 Gold Inc. (OTCBB: SHMX), Origin Agritech Ltd. (Nasdaq: SEED) and Mass Hysteria Entertainment Co. (OTC: MHYS).
CRUMBS BAKE SHOP INCORPORATED (NASDAQ: CRMB)
"Up 66.34% on Tuesday"
Detailed Quote: http://www.otcpicks.com/quotes/CRMB.php
The first Crumbs bake shop opened in March 2003 on the Upper West Side of Manhattan. Crumbs is well known for its innovative and oversized gourmet cupcakes. Crumbs currently has 51 locations, including 33 locations in the New York Metro area, six locations on the West Coast, five locations in Washington, D.C., one location in Virginia, five locations in Chicago, Illinois and one location in Boston, Massachusetts.
CRMB News:
August 6 - Crumbs Bake Shop, Inc. Announces Business Relationship with Starbucks Corporation
Largest Specialty Cupcake Chain in the US to Feature Starbucks® Coffee
Crumbs Bake Shop, Inc. (Nasdaq: CRMB), the nation’s largest specialty cupcake retailer, today announced that it has entered into an agreement with Starbucks Corporation to bring the full complement of Starbucks® brewed coffees, teas and espresso-based drinks to all Crumbs locations.
"Starbucks coffee is perfectly suited for Crumbs cupcakes," said Julian R. Geiger, President and CEO of Crumbs Bake Shop. "We believe that the availability of Starbucks drinks in our stores will greatly enhance the Crumbs experience for our customers and significantly increase our beverage business. As our beverage business increases, we also expect to see an increase in the demand for our baked goods," added Geiger.
This business relationship with Starbucks will make Crumbs the largest national retailer to be included in Starbucks’ We Proudly Serve program, which provides Starbucks®-branded beverages and other products to audiences outside of Starbucks’ company operated retail stores.
“We are thrilled to have the opportunity to serve our coffee and espresso beverages with Crumbs gourmet cupcakes,” said Doug Satzman, Vice President, Branded Solutions for Starbucks. “Can you imagine pairing their Dark Chocolate Signature with a shot of our fresh espresso?”
“We appreciate Starbucks confidence in Crumbs and look forward to a long and mutually beneficial relationship,” said Geiger.
Starbucks® beverages will first be made available at all Crumbs stores in the New York area beginning in September, and will then be rolled out to all other Crumbs locations.
GENESIS GROUP HOLDINGS INCORPORATED (OTCBB: GGHO)
"Up 60.00% on Tuesday"
Detailed Quote: http://www.otcpicks.com/quotes/GGHO.php
Genesis Group Holdings, Inc. does not have significant operations at tGenesis Group Holdings operates through its wholly owned subsidiaries. The Company is a provider of engineering, construction management and installation fulfillment services to companies specializing in the telecommunications, broadband cable, wireless, two-way radio, transportation, public safety and satellite industries.his time. The company was founded in 1999 and is based in New York, New York.
GGHO News:
August 6 - Genesis Group Holdings Secures $13 Million Financing Commitment
Genesis Group Holdings, Inc. ("GGHO" or "the Company") (OTCBB: GGHO) announces that it has secured a commitment from MidMarket Capital Partners, LLC to provide a $13 Million senior secured loan facility.
The primary purpose of this facility will be to assist GGHO in financing certain targeted acquisitions. This loan is expected to fund in a single tranche, will have five-year repayment terms, and be contingent upon the closure of acquisitions having at least $5 Million in adjusted EBITDA, among other requirements.
The Company previously announced, earlier this year, its intention to grow through strategic acquisitions. Mark Munro, CEO of Genesis Group Holdings stated, "This loan facility should enable us to complete several sizable acquisitions in the near future."
SEVEN ARTS ENTERTAINMENT INCORPORATED (NASDAQ: SAPX)
"Up 32.00% on Tuesday"
Detailed Quote: http://www.otcpicks.com/quotes/SAPX.php
Seven Arts Entertainment Inc. is the successor to Seven Arts Pictures Plc., which was founded in 2002 as an independent motion picture production and distribution company engaged in the development, acquisition, financing, production, and licensing of theatrical motion pictures for exhibition in domestic (i.e., the United States and Canada) and foreign theatrical markets, and for subsequent worldwide release in other forms of media, including home video and pay and free television.
SAPX News:
August 7 - Seven Arts Entertainment Announces a Stock Repurchase Program
Seven Arts Entertainment Inc. (Nasdaq: SAPX) ("Seven Arts" or the "Company") announced today that its Board of Directors has authorized the adoption of a Stock Repurchase Program, pursuant to which the Company may repurchase up to $250,000 of its currently outstanding common stock at prevailing market prices up to $.10, as adjusted for any stock split. The time period during which the repurchasing activities may occur will be dependent on future market volume, but is expected to start immediately and continue through October 31, 2012. The Stock Repurchase Program is subject to various trading restrictions as established in Rule 10(b)-18 of the Securities Exchange Act of 1934.
CEO Peter Hoffman stated: "Management is aware of concerns of shareholders regarding the heavy selling of Seven Arts common stock and the potential effects on that selling of Seven Arts' previously announced program of converting its debt into equity. Management believes that this selling volume is far in excess of the number of new shares issued in debt conversion and that much selling pressure is the result of market strategies or manipulation, including substantial short selling as reflected in the failure to deliver chart. In response to those concerns, management has set aside and intends to further set aside from Seven Arts' expected tax credit collections up to $250,000 to provide bid support of our common stock up to $.10. Management continues to believe that those market participants 'betting against' Seven Arts will be disproven by financial results, which is the only viable long term strategy to defend against widespread manipulation and short term trading activities, and we believe such results will be forthcoming."
Management believes that the Seven Arts' debt conversion program has substantially strengthened the Company and prepared it for future growth. Seven Arts' shareholders equity is now estimated to be in excess of $25 million.
SHAMIKA 2 GOLD INCORPORATED (OTCBB: SHMX)
"Up 50.00% on Tuesday"
Detailed Quote: http://www.otcpicks.com/quotes/SHMX.php
Shamika 2 Gold, Inc. engages in acquiring and exploring gold and mineral properties located in Cambodia and Canada. It holds its interests in Samplout project that comprises an area of approximately 140 square miles in the Samplout/Samlaut area of Western Cambodia; and Montclerg property, which consists of 23 mineral claims covering an area of 17.5 square kilometers located approximately 200 kilometres east of Montreal. The company is based in New York, New York. Shamika 2 Gold, Inc. is a subsidiary of Shamika Resources Inc.
SHMX News:
July 11 - Shamika 2 Gold, Inc. Letter to Shareholders
The following is a letter from Henry Riedl in regards to a general update of the business:
Dear Shareholders,
As many of you know, Shamika 2 Gold, Inc. (OTCBB: SHMX) reconstituted its management team on March 20, 2012. I have taken over the roles of President, CEO and Interim CFO. Kim Koffel, previously a member of the Board, also assumed the role as Chief Operating Officer for which the Company is pleased to take advantage of his considerable expertise. In addition, the Company's other Board members and executive officers resigned as of that date. Terence Ortslan was also re-appointed to the Board and we welcome his considerable mining expertise.
Since that time, management has spent considerable time and effort in maintaining the Company's required filings and updating its website.
Previous management has been replaced and are no longer involved in the affairs of the Company. As a result, overhead expenses have been reduced to a strict minimum and will remain at this level for the foreseeable future. We are in the process of rebuilding the management team.
We are actively reviewing and evaluating mining properties that have a medium term possibility of generating cash flow. We have finalized two rounds of financing with an investor that have permitted the Company to remain current in its SEC and State of Nevada filings.
We have reactivated the website. However, we are in the process of revising its content so that it fully represents the activities of the Company.
ORIGIN AGRITECH LIMITED (NASDAQ: SEED)
"Up 7.97% on Tuesday"
Detailed Quote: http://www.otcpicks.com/quotes/SEED.php
Founded in 1997 and headquartered in Beijing, Origin Agritech Limited is China’s leading, vertically-integrated agricultural biotechnology company specializing in research, development and production to supply the growing populations of China. Origin develops, grows, processes, and markets high quality, hybrid crop seeds to farmers throughout China and parts of Southeast Asia via a network of approximately 3,800 first-level distributors and 65,000 second-level distributors and retailers, and possesses a pipeline of genetically modified seed products including glyphosate resistant corn and Bt Corn. The first genetically modified corn seed product for China, Phytase corn, was approved in November 2009 of which Origin possesses exclusive rights.
SEED News:
August 7 - Origin Agritech Limited Reports Unaudited Third Quarter Financial Results For Three Months Ended June 30, 2012
* Revenues increased by 10% year-over-year from RMB244.7 million to RMB269.3 million
* Net income attributable to Origin Agritech was RMB25.4 million, EPS of RMB1.09
Origin Agritech Limited (Nasdaq: SEED) ("Origin" or the "Company") , a technology-focused supplier of hybrid and genetically modified crop seeds in China, today announced unaudited financial results for the third quarter ended June 30, 2012. Origin prepares its financial statements in accordance with generally accepted accounting principles (GAAP) of the United States.
FINANCIAL RESULTS OVERVIEW
During the third quarter of fiscal 2012, revenues increased by 10.1% year-over-year to RMB269.3 million (US$42.7 million) from RMB244.7 million one year ago. Higher revenues this quarter were mainly due to earlier sales settlement with the distributors for the 2012 selling season.
Deferred revenues were RMB257.3 million (US$40.7 million) as of June 30, 2012 compared with RMB287.2 million on June 30, 2011. Deferred revenues mainly reflect the value of Origin's crop seeds after a) sales arrangement is confirmed; b) delivery to the customer is made; and c) pre-payment from the customer is received, but before the final sales price is fixed and determined. The final sales price is primarily determined by sales incentives that Origin gives to its customers. The year-over-year decrease in deferred revenues was mainly due to more revenue is recognized in the current period of this year. Deferred revenues as of June 30, 2012 also included a total of RMB24.9 million (US$3.9 million) of subsidies received from various levels of the Chinese government.
The sum of recognized revenues for the first nine months ended June 30, 2012 and deferred revenues as of June 30, 2012 were RMB568.3 million (US$90.0 million), compared with RMB550.1 million for the same period last year. Excluding the deferred government subsidies, Changchun Origin and the divestiture of Jilin Changrong, the sum of revenues for the first nine months ended June 30, 2012 and deferred revenues as of June 30, 2012 increased by 20.6% year-over-year to RMB493.4 million (US$78.2 million) from RMB409.1 million as of June 30, 2011. This year-over-year increase in recognized and deferred revenues was mainly due to an increase in corn seed shipping volume during the 2012 planting season. The table below lists the deferred revenues and recognized revenues with and without the contribution from Jilin Changrong and Changchun Origin, and government subsidies.
Notes: After the divestiture of Jilin Changrong Hi-tech Seed Company Limited ("Jilin Changrong") in fiscal year 2011, Changchun Origin Seed Technology Development Limited ("Changchun Origin") started operation in the same Northeastern region in fiscal year 2012.
Gross profit for the third quarter of fiscal 2012 was RMB54.2 million (US$8.6 million) compared to RMB85.8 million in the third quarter of fiscal 2011.
Total net operating expenses for the three months ended June 30, 2012 decreased to RMB30.2 million (US$4.8 million) from RMB51.9 million during the same period in fiscal 2011. Lower operating expenses during the third quarter of fiscal 2012 were mainly due to a decrease in costs previously associated with Jilin Changrong, which are no longer applicable after the divestiture. Specifically, selling and marketing expenses were RMB10.3 million (US$1.6 million) for the third quarter of fiscal 2012, compared with RMB12.6 million for the same period last year. General and administrative ("G&A") expenses decreased by 45.9% year-over-year to RMB12.9 million (US$2.0 million) from RMB23.8 million for the third quarter of fiscal 2011. Research and development ("R&D") expenses were RMB8.2 million (US$1.3 million) for the three months ended June 30, 2012, compared with RMB15.5 million during the same period last year.
Income from operations for the third quarter of fiscal 2012 amounted to RMB24.1 million (US$3.8 million) compared with income from operations of RMB33.9 million for the same period in fiscal 2011.
Net income attributable to Origin for the third quarter of fiscal 2012 was RMB25.4 million (US$4.0 million), or RMB1.09 (US$0.17) per share - both basic and diluted, compared with a net income of RMB13.9 million, or RMB0.60 per share - both basic and diluted during the same period one year ago.
BALANCE SHEET
As of June 30, 2012, cash and cash equivalents were RMB194.2 million (US$30.7 million), and shareholders' equity was RMB217.4 million (US$34.4 million). Short-term borrowings were RMB39.0 million (US$6.2 million). Long-term borrowings were RMB30.0 million (US$4.7 million), representing bank borrowings to finance the construction of the seed conditioning plant in Xinjiang.
Advances from customers were RMB365.8 million (US$57.8 million) as of June 30, 2012 compared with RMB290.8 million a year ago. These advances represent cash receipts for future orders.
MASS HYSTERIA ENTERTAINMENT COMPANY (OTC: MHYS)
"Up 42.86% on Tuesday"
Detailed Quote: www.otcpicks.com/quotes/MHYS.php
Mass Hysteria Entertainment, Inc. Is a development stage multi-media entertainment company created to produce theatrical films with an interactive component. Mass Hysteria is the next step in the evolution of the theatrical experience: a hybrid entertainment that combines movies with hand-held devices and the internet.
MHYS News:
July 24 - Mass Hysteria Entertainment Company CEO Daniel Grodnik To Be Interviewed On StockTradersTalk Radio
Mass Hysteria Entertainment Company, Inc. (OTC: MHYS) announced today that its Chief Executive Officer, Daniel Grodnik, will be the featured guest in an exclusive interview on StockTradersTalk Radio tomorrow night at 8pm EST. Mr. Grodnik is expected to discuss Mass Hysteria's business and strategy for the future.
"I am pleased to have this opportunity to discuss what our company is doing and our plans for the future," stated Daniel Grodnik, Mass Hysteria's CEO. "We are making strides and I am looking forward to sharing some of our progress with the investment community."
The interview will be held on July 25th, 2012 at 8:00 pm EDT. Listeners can access the live sessions by visiting www.blogtalkradio.com/stocktraderstalk. An archived recorded version will be located on the homepage of Stock Traders at www.stocktraderstalk.com, following the interview.
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