UFYC, HEPH, CTDC, ENXTF, SQUM
Our Stocks to Watch for tomorrow
include Tarragon Corp. (NASD: TARR) Unify Corp. (OTCBB: UFYC),
Hollis-eden Pharmaceuticals (NASD: HEPH), China Technology Development
(NASD: CTDC), Energy Expolration (OTCBB: ENXTF), Sequiam Corp.
CORP (NASD: TARR)
"Up 182.3% on Friday"
Tarragon Corporation is a leading developer
of multifamily housing for rent and for sale. Tarragon's operations are
concentrated in the Northeast, Florida, Texas and Tennessee. To learn
more about Tarragon Corporation, visit: www.tarragoncorp.com.
7 - Tarragon Corporation
Closes $69.25 Million Property Sale and Reaches Understanding With Largest
Creditor for Reinstatement of Over $550 Million of Loans
Tarragon Corporation (NASDAQ: TARR) recently
announced that it has closed the sales of two of its Florida rental properties
for $69.25 million and that it has reached agreement with its largest
creditor, General Electric Capital Corporation (GECC), on the terms, which
Tarragon expects to be satisfied early next week, under which GECC will
reinstate all loans that it has made to Tarragon and/or its affiliates.
The proceeds from the sale of the two
Florida properties have allowed Tarragon to satisfy approximately $50
million of outstanding indebtedness, bring current all debt service that
had been owed to GECC and to establish certain cash and other reserves.
Further, in addition to the property sales announced recently, Tarragon
also has accepted offers or entered into contracts to sell additional
properties in Florida and Tennessee over the next 30 days. Such sales,
if completed, would generate approximately $35 million in net proceeds
while reducing Tarragon's outstanding debt by about $270 million.
The Florida property sales, agreement
with GECC and the above-referenced property sales are part of an overall
Tarragon plan designed to restore liquidity and improve its financial
condition. As part of this plan, Tarragon is in discussions with other
significant lenders. As described above, the plan currently contemplates
additional property sales, the proceeds of which would be used to repay
or bring current Tarragon's obligations under other loan agreements and
to provide Tarragon with additional liquidity.
There can be no assurance, however, that
the contemplated property sales will be completed on acceptable terms
or in a timely manner, that Tarragon will complete its agreement with
GECC or that it will be able to reach agreements with other lenders. If
not, it may be necessary for Tarragon to undertake such other actions
as may be appropriate in the light of its current liquidity situation.
CORP (OTCBB: UFYC)
"Up 42% on Friday"
Unify is a global provider of application
modernization software that enables Service-Oriented Architecture (SOA).
Unify allows an organization to modernize mission critical applications
while maximizing its legacy investments throughout the enterprise. Unify's
enterprise software portfolio enhances SOA environments by improving application
time-to-market metrics, increasing collaboration and service-enabling
legacy information. Headquartered in Sacramento, Calif., Unify has offices
in London, Munich, Paris and Sidney. Visit www.unify.com
or email us at
6 - Unify Reports
Strong Fiscal 2008 First Quarter Results
"We are pleased to achieve
operating income, positive cash flow and triple digit revenue growth during
the first quarter, which is seasonally our weakest quarter," commented
Todd Wille, CEO of Unify. "Our software licenses and services revenues
grew significantly year-over-year. Our recurring maintenance revenues,
which represented 60% of total Q1 revenues, remained strong with renewals
in excess of 95 percent. For the second quarter in a row, we were operating
cash flow positive. Additionally, we added 79 new customers in our database
and development software business as we continue to see the combination
of Unify and GUPTA creating new opportunities around the world."
Mr. Wille continued, "With the application
modernization side of our business, we have become an endorsed partner
of Microsoft with our Composer for Lotus Notes offering. We are engaged
with the Microsoft sales teams in addition to working with large solution
integrators to engage with customers that want to modernize their Lotus
Notes applications. We completed 10 proof of concept migration projects.
Our Composer for Lotus Notes solution provides enterprises the only viable
alternative to an expensive rewrite for transitioning their Lotus Notes
applications to either the Microsoft or Java platforms. We believe this
is a tremendous opportunity for Unify as large organizations with hundreds
to thousands of applications written in Lotus Notes look for ways to move
these mission critical applications and data to new SOA enabled platforms.
In the second quarter, we expect to expand our relationship with Microsoft
to market our Composer Solution.
"We are in an exciting period
of growth and we look forward to further expanding the reach of our compelling
product and services offerings. During the second quarter, we will be
conducting customer conferences in Sweden, Germany, France, North America,
and Russia for our software business. Additionally, during the second
quarter we will be introducing major new product releases of our development
and database products, which will bring additional visibility, momentum
and results to an already stellar beginning of the fiscal year,"
concluded Mr. Wille.
PHARMACEUTICALS (NASD: HEPH)
"Up 40.8% on Friday"
Hollis-Eden Pharmaceuticals, Inc. is a
world leader in the development of a proprietary class of adrenal steroid
hormones as novel pharmaceuticals for human health. Through its Hormonal
Signaling Technology Platform, Hollis-Eden is developing a new series
of small molecule compounds that are metabolites or synthetic analogs
of endogenous hormones derived by the adrenal glands from the body's most
abundant circulating steroid. These steroid hormones, designed to restore
the biological activity of cellular signaling pathways disrupted by disease
and aging, have been demonstrated in humans to possess several properties
with potential therapeutic benefit -- they regulate innate and adaptive
immunity, reduce nonproductive inflammation and stimulate cell proliferation.
The Company's clinical drug development candidates include HE3286, a next-generation
compound currently in a clinical trial for the treatment of type 2 diabetes
and being prepared for potential clinical trials in rheumatoid arthritis,
and HE3235, a next-generation compound selected for cancer. In addition
to these clinical development candidates, Hollis-Eden has an active research
program that is generating additional new clinical leads that are being
further evaluated in preclinical models of a number of different diseases.
For more information on Hollis-Eden, visit the Company's website at www.holliseden.com.
7 - Hollis-Eden
Pharmaceuticals Presents HE3235 Update at ASCO Breast Cancer Symposium
Hollis-Eden Pharmaceuticals, Inc. (NASDAQ:
HEPH), the leader in the development of a new class of small molecule
compounds based on endogenous steroid hormones, recently reported on its
progress with HE3235, its investigational oral drug candidate for the
treatment of cancer. Data being presented recently at The 2007 ASCO Breast
Cancer Symposium, being held September 7-8 in San Francisco, California,
demonstrate that HE3235, as previously reported, significantly inhibited
the incidence of new tumors and stopped the growth of existing tumors
in a preclinical model of breast cancer. Updated data presented at this
conference indicate that existing tumors in the HE3235-treated animals
from this preclinical model had still not progressed and no new tumors
were reported during the five weeks of observation after dosing stopped,
in contrast to the vehicle-treated animals in which tumors continued to
proliferate. Additionally, the Company reported that when animals with
existing tumors were dosed at one half the strength of the lowest dose
previously tested, HE3235 stopped tumor progression in these animals.
The new data indicating that the anti-tumor
benefit of HE3235 was sustained for five weeks after dosing stopped are
striking in light of the fact that approved breast cancer treatments lose
activity once treatment is discontinued. The Company plans to file an
investigational new drug application (IND) with the U.S. Food and Drug
Administration (FDA) in the first quarter of 2008 in order to initiate
a planned Phase I/II clinical trial with HE3235 for the treatment of cancer.
The previously reported data being presented
at the Breast Cancer Symposium are from an animal model in which rats
were given the potent carcinogen N-methyl-N-nitrosourea to induce multiple
breast tumors. Animals with detected tumors were randomized to receive
one of two strengths of HE3235 or assigned to a placebo control group.
Treatment with HE3235 resulted in a reduced tumor burden for existing
tumors that were present before treatment commenced compared to placebo-treated
animals (p less than 0.001). In addition, after the treatment period began,
all placebo control treated animals developed one or more additional tumors,
while not a single new tumor arose in the animals treated with HE3235.
This preventive action of HE3235 on the occurrence of new tumors also
reached statistical significance (p less than 0.01).
"The effect of HE3235 to inhibit
new tumor growth and stop tumor progression in this model was impressive,
but what was unexpected and exciting was that the compound appeared to
have a lasting effect even after dosing was stopped," stated Dr.
Rajkumar Lakshmanaswamy, Assistant Professor, Department of Pathology,
Texas Tech University Health Sciences Center, who conducted the study
and reported on the findings at the ASCO symposium.
"These data hold the promise
that HE3235, if successfully developed, could offer a new treatment option
for women with breast cancer," stated Richard B. Hollis, Chairman
and Chief Executive Officer of Hollis-Eden. "The lasting anti-tumor
effect of HE3235 reported in this animal model of breast cancer suggests
the compound is causing tumor cells to undergo apoptosis, or die. Therefore,
the compound may act through a novel mechanism of action that could make
it useful in treating multiple types of cancer. Due to this potential
and the previously reported activity with HE3235 in prostate cancer models,
we are aggressively pursuing the mechanism of action and the activity
of the drug candidate in other models of cancer. HE3235 represents yet
another novel pharmaceutical drug candidate developed out of our hormone
signaling technology platform and yields a program in cancer to augment
our expanding drug development pipeline in metabolic disorders and diseases
of inflammation, such as type 2 diabetes and rheumatoid arthritis."
TECHNOLOGY DEVELOPMENT (NASD: CTDC)
"Up 29.4% on Friday"
CTDC is engaged in information network
security in the People's Republic of China. CTDC's ultimate principal
shareholder is China Merchants Group (www.cmhk.com
), one of the most important Chinese state-owned enterprises in China.
For more information, please visit our website at www.chinactdc.com
7 - China Technology
Announces Entry to the Solar Energy Sector
China Technology Development Group Corporation
(Nasdaq: CTDC) recently announced the new business strategy of entering
the booming solar energy sector. With strong government commitment to
significantly increase China's use of renewable energy in the coming decades
and rising energy demand, CTDC strongly believes the new business strategy
will deliver shareholder value and higher earnings potential for the Company.
The new business strategy has received
the board's approval and strong endorsement from China Merchants Group
('China Merchants'), which is currently the Company's largest shareholder
and one of the major Chinese state-owned conglomerate enterprises as well
as one of the Big Four Chinese enterprises in Hong Kong. The Company will
be holding the Annual General Meeting in October, 2007 to obtain the shareholders'
In order to implement this new strategy,
the Company has established a strategic partnership with a leading solar
energy solution provider. The Company will introduce the technology developed
by Terra Solar Global Inc., which is a U.S. company pioneering in thin
film Photovoltaics (the 'Thin Film PV') industry. The Company will manufacture
and sell the proprietary SnO2 base plate, a key component of a-Si (Amorphous
Si) Thin Film PV products, which can optimize the performance of Building
Integrated Photovoltaics (BIPV). Most importantly, the Company has become
the first and only Chinese company based in China to apply this new generation
technology, which is currently one of the leading technologies in the
Thin Film PV industry.
EXPLORATION (OTCBB: ENXTF)
"Up 17.5% on Friday"
NXT is in the business of providing wide-area
airborne exploration services to the oil and gas industry. The Company
utilizes its proprietary SFD Survey System to offer its clients a unique,
low cost service to rapidly identify sub-surface structures with reservoir
potential in sedimentary basins with no environmental impact. The value
of the service is providing clients with an efficient, cost effective
method of surveying large areas and delivering an inventory of SFD prospects
with high potential. The SFD-based exploration process substantially reduces
the need for 2-D reconnaissance seismic thus saving clients valuable time
6 - NXT Reports
Second Quarter Financial and Operational Results
Energy Exploration Technologies Inc. (OTCBB:
ENXTF)(FRANKFURT: EFW), is pleased to announce its financial and operating
results for the six months ended June 30, 2007. The unaudited consolidated
financial statements and management discussion and analysis were filed
August 29, 2007 on SEDAR at www.sedar.com.
These reports are also available on EDGAR at www.sec.gov/edgar.shtml
or on the Company's website at www.nxtenergy.com.
We are pleased to report our financial
results for the six month period ended June 30, 2007. The completion of
Stress Field Detection ("SFD") contracts in the second quarter of 2007
resulted in the recognition of US $2,480,000 (Cdn $2,764,000) of SFD survey
revenue. We are also pleased to report net income of US $749,000 for the
first half of the year and three consecutive quarters of positive cash
flow generated from operating activities. We believe these financial results
signify a turning point in the Company's history. We now have a core team,
the right business plan and a growing customer base, which is expected
to lead to continued profitability. We are grateful to the many shareholders
who have supported the Company throughout the years to make this accomplishment
possible. We intend to build on this success and look to the future with
Following the implementation of the 2006
business plan, we have completed SFD surveys for four independent clients.
These clients are now actively pursuing the SFD prospects identified in
these surveys. Most notably, Pengrowth Corporation has accumulated a significant
land position on the trend in the Puskwa area of Alberta based upon the
SFD recommendations. Follow up seismic has confirmed the SFD prospects.
Third party wells drilled along the trend have established a prolific
regional oil play.
We are pleased that Pengrowth has incorporated
the SFD survey system in a significant exploration program. Management
of Pengrowth has given presentations in various investor forums which
mentioned the potential value of the SFD to rapidly identify oil and natural
gas prospects at low cost and risk. This support coupled with the endorsement
of other clients is creating a growing interest in utilizing our services
within the oil and gas community.
On August 27, 2007 we announced Cdn. $9.0
million of new contracts, creating an order book of surveys to be completed
through the balance of the third and fourth quarters of 2007 and into
2008. We are confident that we will add to our order book from both existing
and new clients.
To meet growing operational demands, in
the last eighteen months we have achieved significant advancements in
our overall capabilities. Accomplishments include the development of enhanced
data collection hardware and software, the introduction of a new generation
of sensors and an increase in the number of operational SFD sensors. Additionally,
we have increased interpretation capacity through the hiring of several
key members to our technical staff and the ongoing identification of SFD
signal templates. During the remainder of 2007 we plan to complete the
implementation of a new interpretation theatre and to acquire an aircraft
managed and operated by a third party.
We believe that the business plan that
we embarked upon in early 2006 is working. We have repositioned ourselves
successfully as an oil and gas service provider with a revenue model based
upon survey and interpretation fees and royalties. We have now achieved
positive earnings, increased our operational capacity and achieved visible
success that is gaining industry acceptance. We are confident that we
are well positioned for continued growth in the future.
CORP (OTCBB: SQUM)
"Up 13.7% on Friday"
Headquartered in Orlando, Florida, Sequiam
Corporation develops, markets, and supports a portfolio of highly robust
proprietary biometrically enabled consumer lifestyle and commercial products
and OEM solutions. In addition, Sequiam has invested heavily in research
and development to develop unique products and solutions for the biometric
industry worldwide. Sequiam's biometric solutions incorporate low-cost,
high-volume manufacturing processes targeted at the consumer and commercial
market. Sequiam is a global company with offices in Taiwan, China, and
South Africa. For more information, please visit http://www.sequiam.com.
7 - Sequiam Biometrics
Successfully Passes California Department of Justice Firearm Safety Device
Test(s) for the BioVault 2.0
Sequiam Biometrics, a subsidiary of Sequiam
Corporation (OTCBB: SQUM), a leading provider of innovative consumer lifestyle
biometric technologies and services, announced that it has successfully
passed United States Test Laboratory (USTL) test(s) as required by California
Penal Code Sections 12088 and Regulation Section 977.45, Chapter 12.6,
Division 1, Title 11, of the California Code of Regulations.
Amongst the performed tests were: picking
the BioVault, forced removal, tensile test, shock test, sawing test and
Sequiam's Chief Executive Officer, Nick
VandenBrekel, said: "We are pleased with the results of this rigorous
test as performed by the USTL and it shows once again that Sequiam is
dedicated to providing products of the highest quality and integrity.
The BioVault 2.0 has been a very popular product since its introduction
to the marketplace and we are soon to introduce a smaller version called
the BioBox which we shall submit to the same high standards of testing."