For Tuesday, October 18th
IRE, CHCC, MCTC, ALRT, AFLB, BBDA
Our Stocks to Watch tomorrow include The Governor & Company of the Bank of Ireland (NYSE: IRE), China Chemical Corp. (OTCBB: CHCC), MicroChannel Technologies Corp. (OTCBB: MCTC), ALR Technologies Inc. (OTCBB: ALRT), A5 Laboratories Inc. (OTCBB: AFLB) and Bebida Beverage Company (OTC: BBDA).
THE GOVERNOR & COMPANY OF THE BANK OF IRELAND (NYSE: IRE)
"Up 728.92% on Monday"
Detailed Quote: http://www.otcpicks.com/quotes/IRE.php
The Governor and Company of the Bank of Ireland provides banking and other financial services to small and medium-sized commercial and industrial companies in Ireland and internationally. The company’s products include interest and non-interest bearing current accounts; demand and time deposit accounts; savings accounts; loans to customers, including overdrafts, installment credit, and finance lease receivables; and mortgage loans for house purchases, home improvement loans, and secured personal loans, as well as term loans, working capital finance, and business and corporate loans. It also offers international asset financing, leasing, installment credit, invoice discounting, foreign exchange facilities, and interest and exchange rate hedging instruments; and executor, trustee, life assurance, pension, and financial advisory services, including mergers and acquisitions. In addition, the company provides treasury products and services, credit card, online and telephone banking services, private banking, and fiduciary services; and car, home, and life insurance products, as well as offers an ATM infrastructure and related services in various post office locations. Further, it provides foreign currency note services and international money payment services to various banking institutions throughout the United States and Canada. As of December 31, 2010, it operated 298 bank branches, including 254 branches in Ireland and 44 branches in northern Ireland, as well as 1,280 ATMs. The Governor and Company of the Bank of Ireland was founded in 1783 and is headquartered in Dublin, Ireland.
October 13 - Bank of Ireland and Lloyds Banking Group Ready to Put Worst of Debt Crisis Behind Them
The Bedford Report Provides Equity Research on Bank of Ireland and Lloyds Banking Group
Fears that Greece and other highly indebted countries may default on their debts have hit banks across the Eurozone and United Kingdom in recent months. Earlier this week, investors finally received signals from the European Commission that solutions to the debt crisis are on the way with a possible round of bank recapitalizations. According to The Wall Street Journal analysts warn, however, that recapitalizations could "dilute shareholders and result in governments holding large swathes of the banking sector." The Bedford Report examines the outlook for companies in the Foreign Banking Sector and provides stock analysis on The Bank of Ireland (NYSE: IRE) and Lloyds Banking Group PLC (NYSE: LYG). Access to the full company reports can be found at:
German Chancellor Angela Merkel and French President Nicolas Sarkozy put bank recapitalization at the top of the priority list in an Oct. 9 declaration in Berlin that triggered a flurry of consultations in European capitals. Meanwhile, European Central Bank chief Jean-Claude Trichet said that European banks and supervisors, including the EBA, should do everything they can to address the need for recapitalization and banks shouldn't be reluctant to accept state help when needed.
European Commission President Jose Manuel Barroso told the European parliament that the region "must urgently strengthen the banks." He said European Union member governments, the European Central Bank and the European Commission must coordinate efforts to recapitalize banks through private and state injections, provide full transparency on the sovereign debt exposures at all systemically important banks and introduce temporary, higher capital requirements after accounting for those government bond holdings. Banks falling short on capital under the measures should be barred by regulators from paying dividends or employee bonuses, Barroso said.
The Bedford Report releases investment research on the Foreign Banking Sector so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.bedfordreport.com and get exclusive access to our numerous analyst reports and industry newsletters.
The Commission also asked for a "prudent valuation of all sovereign debt, whether in the banking book or the trading book" of banks. The international body recently complained that many banks were not taking adequate writedowns on bonds that they plan to hold until they mature.
Barroso also called for a permanent bailout fund, the European Stability Mechanism, to come into force in mid-2012, one year ahead of schedule. The stability mechanism, in contrast to the current bailout fund, requires private investors to take losses on government bonds if a nation needs to write off some of its debt load.
CHINA CHEMICAL CORPORATION (OTCBB: CHCC)
"Up 566.67% on Monday"
Detailed Quote: http://www.otcpicks.com/quotes/CHCC.php
China Chemical Corp. is a Zibo City, China-based manufacturer of organic chemical compounds used in high-performance plastics, PVC, elastic fibers, paints, tires, insulation, flooring, adhesives, medicines, food processing, ink, and paper. The Company's primary products are Phthalic Anhydride (PA) and Maleic Anhydride (MAH), which have a wide variety of applications in the construction, automotive, aviation, marine, and consumer goods industries. China Chemical currently has the capacity to produce 60,000 tons of MAH and 50,000 tons of PA annually. The Company began site development in October 2010 for a 50,000-ton-capacity 1,4 butanediol (BDO) co-generation plant.
October 14 - China Chemical Corp. Announces Merger Agreement
China Chemical Corp. (OTCBB: CHCC) ("China Chemical" or the "Company"), a manufacturer of organic chemicals, announced that it has entered into a definitive merger agreement under which it will be merged with a subsidiary of New Source Holding Co., Ltd. ("NSH"), an entity created by certain stockholders of CHCC (the "Contributing Stockholders"). All outstanding shares of CHCC common stock not owned by CHCC, the Contributing Stockholders or certain other stockholders whose shares are subject to litigation in China between Zibo Jiazhou Chemical Co., Ltd., a related party of the Company, against PAMCO Management, Ltd. ("PAMCO") and its Chairman (the "PAMCO Litigation"), will be converted into the right to receive $1.50 in cash per share. The Contributing Stockholders currently own approximately 79.15% of the outstanding shares of CHCC common stock. The cash consideration represents a 2,500% premium to the Company's closing share price on October 11, 2011, the last trading day prior to the date the merger agreement was entered into and a greater than 1,666% premium to the Company's closing share price on October 13, 2011, the last trading day prior to today's announcement of the execution of a definitive merger agreement.
The transaction was unanimously approved by the board of directors of CHCC. Rockwell Global Capital, LLC acted as financial advisor and McKenna Long & Aldridge LLP acted as legal counsel to the CHCC board of directors.
The transaction is subject to customary closing conditions, including the condition that a majority of the outstanding shares of CHCC common stock vote in favor of the adoption of the merger agreement. The Contributing Stockholders have agreed to vote the shares of CHCC common stock that they own in favor of the merger agreement. The transaction is not subject to any financing contingency.
The transaction is expected to close during the fourth quarter of 2011, subject to the review and clearance of required filings by the Securities Exchange Commission ("SEC"). The preliminary proxy statement was filed with the SEC on October 14, 2011.
The PAMCO Litigation
The Company previously engaged PAMCO as financial advisor, in connection with the Company's share exchange and related transactions in September 2010. The Company delivered cash and shares of its common stock to PAMCO as consideration for certain specified services, although the Company did not receive some of those services. After the Company's unsuccessful attempts to resolve this issue with PAMCO and Po Sun Liu, PAMCO's Chairman, the Company initiated the PAMCO Litigation in Shandong Province, PRC on September 22, 2011. Through the PAMCO Litigation, the Company seeks the return of $1.8 million cash paid to PAMCO, and either (i) the return to the Company for cancellation of 6 million shares of its common stock (the "Litigation Shares") received by PAMCO or (ii) payment in the amount of $9 million for such shares. The Company will not make payment with respect to any of these shares until and unless it is determined upon the conclusion of this litigation that the shares in question are properly held by the parties who presently hold them. The Litigation Shares and the shares owned by the Contributing Stockholders account for over 99% of the shares of the Company currently outstanding. The stockholders are, therefore, urged to be certain of the source of their shares and prospective buyers of shares should confirm that the shares they are considering purchasing are not Litigation Shares. Since becoming a public company, other than the shares issued prior to the Company's share exchange in 2010, since the share exchange, the Company has not conducted any offering of shares of its common stock and has not issued or sold any shares of its common stock. Consequently, shares available for purchase or trading by the public have entered the market principally as a result of re-sales by PAMCO or its affiliates of Litigation Shares and may be shares for which the Company seeks cancellation.
Additional Information and Where to Find It
This press release is neither a solicitation of a proxy nor an offer to purchase or a solicitation of an offer to sell shares of CHCC common stock, and is not a substitute for any proxy statement or other filing that may be made with the SEC in connection with the transaction. In connection with the transaction, CHCC intends to file a proxy statement and other relevant materials with the SEC, and CHCC and certain other persons, including NSH, intend to file a Schedule 13E-3 transaction statement with the SEC. CHCC stockholders are strongly advised to read such materials when they become available because they will contain important information about the transaction. Once filed, these documents will be available at no charge on the SEC's website at www.sec.gov.
CHCC and its directors, executive officers and other members of its management and employees may be deemed to be participants in the solicitation of proxies from its stockholders in connection with the transaction. Information regarding the interests of participants in the solicitation, which may be different than those of CHCC's stockholders generally, will be included in the proxy statement relating to the transaction when it becomes available.
MICROCHANNEL TECHNOLOGIES CORPORATION (OTCBB: MCTC)
"Up 150.00% on Monday"
Detailed Quote: http://www.otcpicks.com/quotes/MCTC.php
Microchannel Technologies Corporation does not have significant operations. It intends to acquire rights to technologies and products that are developed by third parties, primarily universities and government agencies through cooperative research and development agreements. The company was formerly known as MultiChannel Technologies Corporation and changed its name to MicroChannel Technologies Corporation in April 2005. Microchannel Technologies Corporation was incorporated in 2005 and is based in Columbia, Maryland.
October 4 - MicroChannel Technologies Corporation Files Form 8-K With SEC
On September 28, 2011, Kalen Capital Corporation, a corporation formed and existing under the laws of the Province of Alberta, Canada, in two separate private transactions, sold an aggregate of 29,749,600 of its 36,749,600 shares of MicroChannel Technologies Corporation (OTCBB: MCTC) (the "Company"), representing 55.2% of the Company's issued and outstanding common stock to Messrs. Jatinder Bhogal and Jeet Sidhu, a current director of the Company, for total compensation of $2,974.96. See http://biz.yahoo.com/e/111004/mctc.ob8-k.html for more information.
ALR TECHNOLOGIES INCORPORATED (OTCBB: ALRT)
"Up 100.00% on Monday"
Detailed Quote: http://www.otcpicks.com/quotes/ALRT.php
The ALRT Health-e-Connect (HeC) System is the principal product of the Company. HeC is a web-based patient management platform for medical professionals to improve compliance and management of care plans of patients in their homes. HeC is currently programmed to assist healthcare providers caring for diabetes patients. The platform will be expanded to cover patients with other chronic diseases.
October 13 - Local.com’s Spreebird Daily Deals Launches Mobile Apps for iPhone® and Android™
ALR Technologies Inc. (OTCBB: ALRT) (the "Company"), a healthcare technology company, announced today that it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its Health-e-Connect (HeC) System for remote monitoring of patients in support of effective diabetes management programs. The 510(k) clearance enables the Company to commence with the United States marketing and sales launch of its HeC platform.
Company CEO, Sidney Chan, commented, "We are pleased to reach this milestone and are eager to introduce to market this cross-platform technology. The HeC System represents a breakthrough for clinician/patient communication to enhance disease management and improve health outcomes. The System provides the potential to achieve significant savings to the US healthcare system through enhanced adherence to care plans. In anticipation of the FDA clearance, we have been cultivating relationships with manufacturers of diabetes test supplies and insurance companies to help facilitate a successful launch."
President and COO Lawrence Weinstein added, "Diabetes management represents the initial chronic illness application for HeC and we plan to expand upon that platform in 2012. A first-to-market product, the HeC System bridges gaps in current remote monitoring systems in a manner that is efficient, effective and affordable. We anticipate a strong demand based upon our present relationships with industry leaders. Given the flexibility of the HeC System, the potential is enormous. This FDA clearance is a major stride in our commitment to building long-term shareholder value as there is a wide spectrum of chronic diseases which the HeC platform can be deployed to improve outcomes and contain costs."
A5 LABORATORIES INCORPORATED (OTCBB: AFLB)
"Up 149.11% on Monday"
Detailed Quote: http://www.otcpicks.com/quotes/AFLB.php
A5 Laboratories, Inc., a development stage company, focuses on providing contract research and laboratory services in North America. It specializes in the production of natural interferons using its gamma interferon production technology that allows producing interferons for the human and animal health market. The company plans to provide a range of analytical services to support a client’s quality control, product development, method development, validation, and marketed product activities; consulting and analytical services in chemistry, microbiology, and chromatography; and quality assurance and support services. It plans to offers its services to pharmaceutical companies, biotechnology companies, specialty pharmaceuticals, drug delivery companies, generics, and cosmetics industries. The company was formerly known as El Palenque Vivero, Inc. and changed its name to A5 Laboratories, Inc. in March 2010. A5 Laboratories, Inc. was founded in 2006 and is based in Lachina, Canada.
June 28 - A5 Laboratories Announces Relocation of Facilities Into Biotechnology Research Institute in Montreal
A5 Laboratories Inc. (OTCBB: AFLB), a Biotechnology company by developing novel immune therapeutic applications of interferon therapy to treat cancer and infectious diseases, is pleased to announce the impending move of its cell culture and microbiology department of the C.R.O. division into the state-of-the-art facilities located in the Industrial Partnership Facility at the Biotechnology Research Institute in Montreal.
This move will hasten the development of A5 Laboratories' proprietary methods for the production of animal interferon's. The CRO division will aid A5 Labs in its clinical testing development while expanding its own client base in the areas of chemical analysis and microbiological testing.
The close proximity to renowned scientists in cell culture, protein purification, chemistry and biotechnology will allow A5 Labs to draw on this expertise as it moves toward commercialization of its products. Ready access to BRI's specialized equipment and infrastructure will further enable this goal.
"We are excited about the move of our cell culture and microbiology department of the C.R.O. division into the state–of–art facilities at the Biotechnology Research Institute. The technology that will now be available to A5 Labs, will be a major step forward in the commercialization of A5 Labs products," stated Dr. Richard Azani, president and CEO of A5 Laboratories.
BEBIDA BEVERAGE COMPANY (OTC: BBDA)
"Up 33.33% on Monday"
Detailed Quote: http://www.otcpicks.com/quotes/BBDA.php
BeBevCo (Bebida Beverage Company) develops, manufactures and markets beverages including Koma Unwind "Chillaxation Drink™," Koma Unwind Sugar-free "Chillaxation Drink™," and Koma Unwind "Chillaxation Shot™" as well as Potencia Energy Drink, Potencia "BLAST" energy shot and Piranha Water.
October 17 - BeBevCo's Koma Unwind Lands First Nationwide Chain; 7-11 to Carry Koma Unwind in 90 Stores in South Western PA and WV
Bebida Beverage Company (OTC: BBDA) (BeBevCo) a developer, manufacturer and marketer of relaxation and energy drinks announced today that their flagship product, KOMA UNWIND will now be carried in ninety 7-11 Convenience Store locations in Western Pennsylvania and West Virginia. This represents the first nationwide chain store distribution in BeBevCo's history. The company added that the 7-11 Franchise is a another domino to fall for the rapidly growing brand KOMA UNWIND, a multitude of other franchises are in negotiations and lining up for fall and winter store merchandise resets.
KOMA UNWIND has become the leader in the new and rapidly growing Relaxation drink Category of beverages. Brand recognition and marketing efforts on behalf of KOMA UNWIND has led to the Company's achievement of linking territories with major retailers. KOMA UNWIND is the premium choice for those suffering from stress anxiety and poor sleep that inundates Americans on a daily basis.
The KOMA UNWIND Brand and its multi-demographic marketing coupled with its fantastic taste and functionality is why so many retailers are looking for a relaxation product that is not just a passing fad or novelty or carry controlled substance innuendos or other questionable marketing tactics used by some competitors.
"This is obviously a huge development for us but it's actually just the beginning of what we see clearly as a much larger rollout of our products over the coming weeks and months," said CEO Brian Weber. "Requests for our products are rolling in so fast that we have had to set up a 'situation room' to keep track of all the leads, requests and enquiries. We are ecstatic about the success of our brand but again, this is only the tip of the proverbial iceberg," said Weber.