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SENZ, TADF, ELRA, BMGP, SMNG
TPHM, PRXI, BZCN, DYN, TRBN, APTD
Our Stocks to Watch today include Sport Endurance Inc. (OTCBB: SENZ), Tactical Air Defense Services Inc. (OTCBB: TADF), Elray Resources Inc. (OTCBB: ELRA), Biomagnetics Diagnostics Corp. (OTC: BMGP), Strategic Mining Corp. (OTC: SMNG), Thomas Pharmaceuticals Ltd. (OTCBB: TPHM), Premier Exhibitions Inc. (Nasdaq: PRXI), BizAuctions Inc. (OTC: BZCN), Dynegy Inc. (NYSE: DYN), Trubion Pharmaceuticals Inc. (Nasdaq: TRBN) and Alphatrade.com (OTCBB: APTD).
FEATURED COMPANY
SPORT ENDURANCE INCORPORATED (OTCBB: SENZ)
Detailed Quote: http://www.otcpicks.com/quotes/SENZ.php
Company Profile: http://www.otcpicks.com/Sport-Endurance.htm
Sport Endurance, Inc., a development stage company, focuses on developing, manufacturing, marketing, and distributing beverages, snacks, and dietary supplements products in the United States. It would provide energy drinks and energy shots. The company intends to offer its Shocking Great Taste energy drinks in six flavors, such as mango cream, raspberry cream, fruit punch, tropical, doo drop, and cran-grape; and sugar free energy shots in four flavors, including mango, tropical, fruit punch, and raspberry. Sport Endurance, Inc. was formerly known as Cayenne Construction, Inc. and changed its name to Sport Endurance, Inc. in August 2009. The company was founded in 2001 and is based in Las Vegas, Nevada.
SENZ News:
August 13 - Sport Endurance Inc. Enters Into an Agreement With Major Distributor, Mr. Checkout, to Deliver the Company's Liquid Gel Caps to Over 15,000 Stores Nationwide
Sport Endurance, Inc. (OTCBB: SENZ), a health supplement company, announced that it has entered into an agreement with Mr. Checkout Distributors, Inc. to deliver the Company's proprietary products to over 15,000 grocery and convenience stores across the nation within the next quarter.
Mr. Checkout Inc. has an exclusive distribution agreement with 44,000 nationwide retail stores. Mr. Checkout also works with an additional 250 distributors who represent up to 100,000 retail stores.
Sport Endurance Liquid Gel Cap products including its 8 Hour Energy Liquid Gel Caps, Liquid Creatine Liquid Gel Caps, natural Sleep Aid Liquid Gel Caps, represent a revolution in dietary supplements. The Company is among the first in the exciting Liquid Gel Cap field.
Mr. Checkout Distributors Inc. is a unique, 20-year old group of direct-store-delivery (DSD) retail merchandisers, wholesale suppliers, manufacturers, wholesale-to-distributors, food and beverage distributors, and wholesalers currently servicing 44,000 stores.
"We are pleased and excited to begin the initial phase of our aggressive sales campaign by distributing our Liquid Gel Cap products to thousands of nationwide convenience and grocery store locations," stated Robert Timothy, CEO of Sport Endurance, Inc. "We look forward to working with Mr. Checkout Distributors and other distribution companies to push our revolutionary products into the hands of customers throughout the nation."
Current projections indicate that Liquid Gel Cap products should be in 100,000 stores with the next 12 months.
August 12 - Sport Endurance, Inc. Announces Analyst Recommendation and Target Price With Upside Valuation
Sport Endurance, Inc (OTCBB: SENZ), a health & dietary supplement company, has been described in a recently issued analyst research report, prepared by Pax Adamas Equity Research, as having significant upside market valuation potential with a near term relative valuation of $1.50, which is more than three times its current value.
Pax Adamas Equity Research's emerging growth analyst provides a detailed overview of the Company's three gel-cap products, including its next generation, industry changing '8-Hour Energy Boost Gel Cap', its 'Creatine Supplement Gel Cap', and its 'Sleep-Aid Gel Cap'.
The analyst justifies his valuation estimates by pointing to SENZ's aggressive marketing and distribution program scheduled to place SENZ gel cap supplement products at approximately 100,000 retail locations nationwide over the next 12 months.
A complete copy of the Pax Adamas Equity Research Report is available on the Company's website at www.sportenduranceinc.com/pax-report.
Robert Timothy, the CEO of Sport Endurance said, "The Company engaged Pax Adamas Equity Research as an independent research firm to provide shareholders with an assessment of the currently unrealized value of their Sport Endurance, Inc. stock ownership, and to prepare a thorough analysis of the Company, and its moving forward plans."
Mr. Timothy continued, "While we have engaged and paid for the analyst report, we have not requested the analyst modify any of the information in his report. We have not influenced this report. A reading of the entire report, on the Company website will provide a more detailed snapshot into the future marketing and distribution plans of the Company, and how we plan to make a major impact in the health supplement field."
Report Highlights: At this time, Pax Adamas Equity Research finds the risk-reward equation for SENZ to be very compelling. Based upon the Company now being at an advanced stage of its development cycle, entering the deployment stage with the successful launch of phase one of its marketing and distribution program we believe SENZ has the potential to quickly gain market share in the niche markets it is focusing on. The aggressive distribution and marketing program will give the Company's product nearly instant exposure on a national scale, beginning with the completion of the placement of its products at approximately 35,000 retail locations in the U.S. by November 1. We believe this is possible mainly due to the nature of the energy drink and sports nutrition supplement market that has evolved so quickly, from large 20oz canned drinks to the very popular 5 hour energy shot product — the gel cap version of these products is the most logical next step. Should indications prove positive from the current program, it would not be unreasonable to expect a market valuation in the $100+ million range.
Given today's $23.5 million market cap, we certainly see a positive risk-reward scenario that has the potential to sustain double digit revenue and earnings growth for quite some time.
FEATURED COMPANY
TACTICAL AIR DEFENSE SERVICES INCORPORATED (OTCBB: TADF)
Detailed Quote: http://www.otcpicks.com/quotes/TADF.php
Company Profile: http://www.otcpicks.com/Tactical-Air-Defense.htm
Tac-Air is a privately-held Aerospace/Defense Services contractor founded by a group of former Navy, Marine, and Air Force Weapon's School Instructors, which has won and successfully executed multiple Aerospace/Defense contracts by divisions of the U.S. Department of Defense.
TADF News:
August 11 - Frivolous Action Against Tactical Air Defense Services is Dismissed
Tactical Air Defense Services, Inc. (OTCBB: TADF), an Aerospace/Defense Services contractor that offers air-combat training, aerial refueling, aircraft maintenance, disaster relief services, and other Aerospace/Defense services to the United States and Foreign militaries and agencies, is pleased to announce that the frivolous and improper Involuntary Chapter 7 Petition (the "Petition") designed to harm TADF has been Dismissed by the United States Bankruptcy Court.
On August 3, 2010, certain affiliates and business associates of Mr. Daniels, the ex-CEO of TADF against whom TADF is currently litigating in a separate action, filed an improper and frivolous Involuntary Chapter 7 Petition against the Company in the United States Bankruptcy Court for the Southern District of Florida, in an effort to delay and circumvent the legitimate civil court process, to harm and discredit TADF, and in direct violation of a Court Order previously issued by Federal Bankruptcy Judge Paul Hyman on March 14, 2010.
On August 11, 2010, at an Emergency Hearing to Dismiss the Petition, the Federal Bankruptcy judge dismissed the Petition, as had been anticipated and previously disclosed by TADF, and, moreover, due to the improper actions of the Petitioners, reserved the right of the US Federal Bankruptcy Court to:
* Impose Sanctions upon the Petitioners.
* Impose Punitive Sanctions upon the Petitioners if it is determined that the actions of the Petitioners violated the Court Order previously issued by U.S. Federal Bankruptcy Court Judge Hyman.
Although no assurances can be given, TADF believes that Sanctions will be imposed upon the Petitioners, and that it will be determined that the Petitioners violated the Court Order issued by Judge Hyman.
Alexis C. Korybut, Chief Executive Officer of TADF, stated, "I am pleased that the U.S. Bankruptcy Court made the proper determination by dismissing the frivolous Petition. TADF intends to request that Sanctions and Punitive Sanctions be imposed upon the Petitioners and Mr. Daniels for yet another improper attempt to damage TADF due to it having severed its relationship with the Petitioners or their affiliates as a result of previous improper or fraudulent actions or misconduct by the Petitioners or their affiliates. We hope that Judge Hyman will impose both Sanctions and Punitive Sanctions against the Petitioners and Mr. Daniels in order send the proper message to Mr. Daniels and his affiliates that any attempt to damage or take unfair advantage of TADF will not be tolerated. TADF remains on a clear path to fulfill the expectations of our shareholders."
FEATURED COMPANY
ELRAY RESOURCES INCORPORATED (OTCBB: ELRA)
Detailed Quote: http://www.otcpicks.com/quotes/ELRA.php
Company Profile: http://www.otcpicks.com/Elray-Resources.htm
Elray Resources, Inc. is a junior exploration and development Corporation which has successfully accumulated a portfolio of four highly prospective, heavily mineralized mining tenements in Cambodia and Mexico. Elray Resources primary objective is to source potential and viable projects, conduct geological assessments and seek Joint Venture partners to develop the properties. Elray Resources 100% controlled entity in Cambodia is Angkor Wat Minerals Ltd.
ELRA News:
August 11 - Elray Resources Gold Bearing 'Christina' Vein Update
Company Believes That Vein Is Gold-Bearing
Elray Resources, Inc. (OTCBB: ELRA), a global exploration and production mining company with a portfolio of valuable properties is pleased to inform shareholders that according to a recent Geologist's report, the "Cristina" vein in Elray's Picacho property in south-eastern Ecuador is "a very important gold-bearing structure."
The vein is located on the north-west side of the concession and has a N-NE direction, with a continuity between one and two kilometres.
Mines are found in the area starting from 1360 m. a.s.l. to 800 m. a.s.l., at a depth known of mineralization of at least 500 m. The potential of veins vary from 0.40 m. to 1.40 m. and have an angle of inclination which ranges from 70° to 90° on the NE.
The Cristina vein is part of an epithermal system of gold, with milky quartz which is hard but fragile, which contains sulphide minerals such as calcopyrite (copper), of esphalerite (zinc) and galena (lead).
"There is no doubt that this is a gold-bearing structure," commented Barry Lucas, Elray's Executive Chairman. "We are now developing a strategy for extracting the maximum possible economic value from it."
"Sovereign-debt issues and currency risk remain prevalent and look set to keep gold buoyant for the foreseeable future," analysts at GoldCore recently wrote in a note. "Indeed, gold is increasingly being seen as a safe-haven currency."
FEATURED COMPANY
BIOMAGNETICS DIAGNOSTICS CORPORATION (OTC: BMGP)
Detailed Quote: http://www.otcpicks.com/quotes/BMGP.php
Company Profile: http://www.otcpicks.com/Biomagnetics-Diagnostics.htm
Biomagnetics Diagnostics Corporation is an advanced medical device and biotechnology company. The Company's revolutionary diagnostic systems, which are based on advanced magnetics, test for any viral or bacterial disease using any body fluid. The Company's technology allows laboratories to perform far more tests in the same amount of time it takes to do a single test. The HTS-MTP platform is designed to detect the actual virus and viral load in body fluids and not just simply screen for the presence of viral antibodies.
BMGP News:
July 26 - Biomagnetics Provides Investor Update
Biomagnetics Diagnostics Corp. (OTC: BMGP), a developer of revolutionary diagnostic systems and other innovative technologies, provided the following updates on corporate activities.
Clayton Hardman, CEO of Biomagnetics commented, “We have recently completed a thorough review with our auditors, results which will soon be open for review. This will be the first step in becoming a fully reporting company and being listed on the OTCBB. Full transparency is critical as we expand and move forward with planned acquisitions. Over the coming weeks and months you will see substantial developments from our company. We believe we are on the leading edge in revolutionizing tuberculosis diagnostics throughout the world in partnership with Los Alamos National Laboratories. We are equally excited about introducing to the world revolutionary biodegradable plastic film and several “green” bio-fuel formulations all of which hold the promise to significantly reduce pollution. It is clearly a very exciting time for our shareholders. Below, we have provided a detailed update of some of our recent corporate activities.”
Corporate legal staff has already completed the majority of the required Securities and Exchange Commission (SEC) filing information (Form 10) and expects to file with the SEC over the next few weeks.
Integrated Optical Biosensor Development (IOBS) - Biomagnetics continues to work toward development of the world's first integrated optical biosensor for the detection of disease causing pathogens. Biomagnetics is aggressively working with the staff of Los Alamos National Security, LLC to arrange a joint conference call or webinar to discuss this project with both the medical and investment communities.
Zhuhai Oil New Energy Science and Technology, LTD Acquisition - Biomagnetics recently announced the signing of a letter of intent to acquire Zhuhai, an innovative designer and producer of low carbon biofuels. Today, the companies are releasing test results on these unique biofuel blends. According to China National Vehicle Pollutant Emission Standards, idling nitrous oxides cannot exceed 200 ppm for light duty gasoline vehicles. Recent tests using the Zhuhai low carbon gasoline blend produced test results of only 6 to 27 ppm. The high idle standard is for less than 150 ppm, with the Zhuhai blend product testing at 3 to 15 ppm. The Zhuhai gasoline product also significantly reduced carbon emissions with test results of 0% to 0.2%, versus the maximum national carbon emissions standard of 0.5%. As was announced on July 21, biofuel production at the plant was recently increased to 60 metric tons per hour. It is estimated the average pretax profit per ton of various fuel blends that will be sold to power plants and other industrial users will range between 700 RMB and 1,300 RMB per ton. The companies recently completed additional negotiations toward the closing of this merger, which included an agreement to allow Biomagnetics to manage the process of filing all U.S. patent applications for these low carbon biofuels.
Lanzhou Sanhuan New Technology Acquisition – On July 12th, Biomagnetics announced the signing of a letter of intent to acquire Lanzhou Sanhuan, the developer and patent holder of a unique highly degradable, PVA plastic film with unique gas permeation reduction features. Biomagnetics has recently completed its initial legal review of the patent held by Lanzhou, the status of current production levels and the validity of the ongoing Chinese government agriculture-related contract for a significant amount of Lanzhou PVA film. As a result of this review, Biomagnetics will move forward with a formal offer for the Company.
Additional Acquisitions - Biomagnetics is today announcing its intent to move toward an acquisition related to the manufacturing inputs for the Lanzhou PVA film while reviewing an additional proposed acquisition relating to the production of bio-fuels in China. This additional bio-fuel acquisition is designed to provide a limited level of vertical integration in order to better meet strong demand required by a local Guangdong electric power station that has agreed to place a significant order for the cleaner burning Zhuhai biofuel blend.
Relative to the acquisition of Lanzhou and Zhuhai, Biomagnetics will issue a total of 20 million shares of common stock and has agreed to capitalize these two operations with $2 million in capital of over the next 90 days. The Company believes these acquisitions will be highly accretive to earnings and will result in a significant addition to shareholder value.
FEATURED COMPANY
STRATEGIC MINING CORPORATION (OTC: SMNG)
Detailed Quote: http://www.otcpicks.com/quotes/SMNG.php
Company Profile: http://www.otcpicks.com/Strategic-Mining.htm
Strategic Mining Corporation is engaged in the exploration and development of gold properties in Vietnam, the US (Nevada/Utah) and Africa. The company intends to expand by acquiring mineral rights to other key properties and by initiating strategic joint ventures.
SMNG News:
August 10 - Strategic Mining Announces Filing of Form 10-A with the SEC and Moves to OTCQB Tier
Strategic Mining Corp. (OTC: SMNG) announced that it has filed the amendment (10a) to the Form 10 that includes first quarter financials on August 9, 2010. The filing of the Form 10a immediately moves the company to the OTCQB tier with current status. The company has also sent a response letter to the SEC in order to continue the process to move to the Bulletin Board.
The company filed a Form 10 with the SEC on April 30 to initiate the process to move to the Bulletin Board. As of June 30, Strategic Mining is subject to all of the reporting requirements of the Securities Exchange Act of 1934. The Bulletin Board reaches a much wider audience both domestically and internationally. Strategic Mining is now a reporting company offering more transparency while investors and their brokers would have greater ease and less restrictions to monitor, buy and sell the company's stock.
President, Todd Sterck commented: "We are pleased to now be under the jurisdiction of the SEC with full transparency to the investment community. We look forward to be listed on the Bulletin Board and are taking all the necessary steps to accomplish this goal."
STOCKS TO WATCH
THOMAS PHARMACEUTICALS LIMITED (OTC: TPHM)
"Up 100.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/TPHM.php
Thomas Pharmaceuticals, Ltd. does not have significant operations. It seeks a potential merger or acquisition candidate for the acquisition of additional businesses. Previously, the company provided investor relation services to small and medium sized public companies. Thomas Pharmaceuticals, Ltd. is based in Matawan, New Jersey.
TPHM News:
February 19 - Thomas Pharmaceuticals, Ltd. to Merge With Global Medical Equipment of AZ
Thomas Pharmaceuticals, Ltd. (OTCBB: TPHM) announced that it has entered into a non-binding Letter of Intent to merge with Global Medical Equipment of AZ, LLC. ("Global Medical"). The closing is subject to: (i) to satisfaction of due diligence investigations by all of the parties, (ii) negotiation and execution of a definitive agreement, (iii) approval by Thomas Pharmaceuticals' shareholders, (iv) completion of an audit of Global Medical (v) the completion of certain financing commitments for the post-merger Company and (vi) certain other conditions precedent to closing. It is anticipated that this transaction will close in the second quarter 2010. The merged company will continue to trade on the OTC Bulletin Board.
Global Medical is involved with launching a series of patented products servicing home and institutional health care, specialty medical facilities, acute care facilities, and elder care. Global Medical is implementing a growth strategy of acquiring Medicare accredited durable medical equipment ("DME") companies to create a direct distribution network.
"We have a number of different products and marketing opportunities representing the business's growth strategy. Our Company continues to field additional inquiries regarding representation of other products creating vertical opportunities within markets already penetrated," stated President and CEO, Harold Halman.
Core products include a hospital bed with multi-facet features that may eliminate bed sores, scooter lifts, along with a full line of mobility products with complimentary accessories involving all levels of DME solutions.
PREMIER EXHIBITIONS (NASDAQ: PRXI)
"Up 41.38% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/PRXI.php
Premier Exhibitions, Inc., through its subsidiaries, engages in developing and touring exhibitions worldwide. The company operates as the salvor-in-possession of the Titanic wreck. It also organizes human anatomy exhibitions that promote scientific education and public awareness of the human body. In addition, the company sells merchandise, such as catalogs, posters, and Titanic-related jewelry. As of February 28, 2007, it operated seven Titanic exhibitions, six of which were known as "Titanic: The Artifact Exhibition" and one of which was known as "Titanic Science;" and seven human anatomy exhibitions, six of which were known as "Bodies... The Exhibition" and one of which was known as "Bodies Revealed." The company was founded in 1987 and is based in Atlanta, Georgia.
PRXI News:
April 15 - Premier Exhibitions Clarifies Offers Made by G. Michael Harris
Premier Exhibitions, Inc. (Nasdaq: PRXI) announced that its board of directors is reviewing the offers made by G. Michael Harris to Premier and Sellers Capital LLC. Premier also clarified that the offers made by Harris are not an offer to acquire Premier or its wholly-owned subsidiary R.M.S. Titanic, Inc.
Harris has offered to acquire the 4,778,399 shares of Premier held by Sellers Capital LLC, which represents approximately 16.3% of Premier's outstanding shares, for a purchase price equal to $3.00 per share. Harris' offer is subject to a 45-day due diligence period, which would follow the execution of definitive documents. Harris has also requested three board seats and control of all executive positions of Premier. Although the offer has been made to Sellers Capital LLC, only Premier's board of directors could agree to the extraordinary step of making board seats or executive positions available to an outside party.
Harris also has provided Premier with a preliminary outline of terms under which Harris would acquire the exclusive rights to manage the Titanic assets possessed by Premier's wholly owned subsidiary R.M.S. Titanic, Inc. for a period of five years, pursuant to which Harris proposes to pay Premier $5.0 million per year plus an unspecified percentage of all merchandise, touring and television revenues and Harris would receive one million shares of Premier plus an unspecified number of stock options. This offer is also subject to a 45-day due diligence period, which would follow the execution of definitive documents.
Harris has not indicated to Premier how these offers would be financed. Premier's board of directors is undertaking an appropriate review of Harris' offers and will respond to Mr. Harris when its review is completed.
BIZAUCTIONS INCORPORATED (OTC: BZCN)
"Up 33.33% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/BZCN.php
BizAuctions, Inc. is a prime provider of commercial eBay liquidation services for excess inventory, overstock items, and returns. Our clients have included some of the Nation's leading retail names at the forefront of their industries. BizAuctions addresses the $60 billion excess inventory problem for clients by sending trucks to pick up pallets of excess inventory, selling the inventory on eBay, and collecting payment. We provide our clients with a new sales channel to generate additional revenue on excess inventory, while at the same time freeing up their valuable storage and retail space. With a long-term strategy to provide eBay liquidation services to Fortune 1000 enterprises, BizAuctions is a clear and lucrative solution for most any business to liquidate its excess inventory on eBay.
BZCN News:
July 22 - BizAuctions and La Jolla Liquidation Joint-Venture to Open Retail Store
BizAuctions, Inc. (OTC: BZCN), a prime provider of commercial eBay and Amazon liquidation services for excess inventories, overstocks, and returns, and La Jolla Liquidation and Auction Co. announced that the Joint-Venture is in the final stages of opening a retail store in early to Mid-August of this calendar year.
Delmar Janovec, BizAuctions' CEO, comments, "Due to the availability of name brand merchandise such as Polo Ralph Lauren, Buffalo and Lucky jeans, and other name brand clothing merchandise from BizAuctions' major retail contracts, BizAuctions and La Jolla Liquidation's Joint-Venture are in the final stages of opening a retail store in early to mid-August of this year. The retail store location is approximately 3,000 sq. ft. in size and is located within BizAuctions current 23,000 sq. ft. office-warehouse in Otay Mesa, California. BizAuctions office-warehouse is approximately two (2) blocks from the Otay Mesa Road or 905 Highway and approximately four (4) miles from the 805 Highway and border crossing into Mexico. The combined traffic flow at the Otay Mesa Road-905 highway and the 805 highway juncture carries in excess of 60,000 cars a day so with the correct signage and adequate marketing, BizAuctions-La Jolla Liquidation can draw from a large base of potential customers that utilize these highways each day.
"BizAuctions opened its 1st retail store on May 29, 2009 in the Chula Vista Center in Chula Vista, CA, next to Macy's, an anchor store, and PacSun retail stores, under the name of Lucky 7's in order to sell its name brand products such as Polo Ralph Lauren, Buffalo and Lucky jeans, Ed Hardly shirts, PING sports apparel, and other name brand clothing merchandise that brings higher retail prices at Lucky 7's versus its customary outlet, on eBay and Amazon business platforms," noted CEO, Janovec.
Romy Ashjian, President of La Jolla Liquidation remarks, "Since our formation of the Joint-Venture with BizAuctions in early April of this year, I have had the opportunity to see all of the hundreds of name brand products in the areas of electronics, clothing, and general merchandise that are in great condition which are received weekly by BizAuctions - it was then that I realized the true value in the merchandise that was being sold by BizAuctions through eBay, Amazon, and the Lucky 7's store. So, after discussions with management of BizAuctions we decided the Joint-Venture would open the retail store in the warehouse of BizAuctions current operations. The combined management of La Jolla Liquidation has in excess of 25 years experience in the retail, liquidation and auction business, and coupled with the traffic flow from Otay Mesa Road-905 highway and the 805 highway, we believe the retail store in time will develop a strong customer base that is looking for great buys on name brand merchandise."
BizAuctions' clients have included some of the Nation's leading retail names at the forefront of their industries. With a long-term strategy to provide eBay liquidation services to Fortune 1000 enterprises, BizAuctions is a clear and lucrative solution for most any business to liquidate excess inventory on eBay and Amazon platforms.
DYNERGY INCORPORATED (NYSE: DYN)
"Up 59.35% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/DYN.php
Through its subsidiaries, Dynegy Inc. produces and sells electric energy, capacity and ancillary services in key U.S. markets. The power generation portfolio consists of approximately 12,200 megawatts of baseload, intermediate and peaking power plants fueled by a mix of natural gas, coal and fuel oil.
DYN News:
August 13 - Dynegy Inc. Agrees to Be Acquired by Blackstone
* Dynegy stockholders to receive $4.50 per share in cash, representing a premium of 62 percent to prior day’s closing price
* Transaction valued at approximately $4.7 billion
Dynegy Inc. (NYSE: DYN) announced that it has entered into a definitive merger agreement pursuant to which it will be acquired by an affiliate of The Blackstone Group L.P. (NYSE: BX) in a transaction valued at approximately $4.7 billion, including the assumption of existing debt.
Under the terms of the merger agreement, Dynegy stockholders will receive $4.50 in cash for each outstanding share of Dynegy common stock they own, which represents a 62 percent premium to the closing share price on August 12, 2010.
“Dynegy’s Board of Directors believes the proposed transaction with Blackstone provides our stockholders with a significant premium over the current stock price and removes the risks to the existing stockholders associated with volatile commodity prices, challenging capital markets and environmental and regulatory uncertainties,” said Bruce A. Williamson, Chairman, President and Chief Executive Officer of Dynegy Inc. “Blackstone is a world-class firm with substantial resources and investment experience in the power generation business, and we believe they are well positioned to lead Dynegy going forward as a private company.”
“We share Dynegy’s commitment to safety, operational reliability and environmental responsibility,” said David Foley, Senior Managing Director of Blackstone. “We look forward to working together with Dynegy’s employees to realize the full potential of the company’s attractive portfolio of power generation assets.”
After careful analysis, Dynegy’s Board of Directors has approved the merger agreement and recommended that Dynegy’s stockholders adopt the merger agreement with an affiliate of Blackstone. A special meeting of Dynegy’s stockholders will be held following the preparation and filing of a proxy statement with the Securities and Exchange Commission and a subsequent mailing to stockholders. The company will use its reasonable best efforts to file a preliminary proxy statement related to the merger within 15 business days after the date of the merger agreement, and it is currently anticipated that the stockholder meeting will be held in the fourth quarter 2010.
Under the merger agreement, Dynegy is permitted to solicit alternative proposals from third parties for a period of 40 days after the date of the merger agreement. There can be no assurance that the solicitation of alternative proposals will result in Dynegy receiving a superior proposal from a third party.
The transaction is expected to close by the end of 2010. Completion of the transaction is subject to customary closing conditions, including approval by Dynegy stockholders and receipt of regulatory approvals. The transaction is not subject to any financing conditions, and a fund managed by Blackstone has committed to contribute all of the equity necessary to complete the transaction.
In addition to the transaction discussed in this news release, Blackstone and NRG Energy have entered into a separate and exclusive agreement through which NRG Energy will acquire four natural gas-fired assets currently owned by Dynegy – the Casco Bay facility in Maine and the Moss Landing, Morro Bay and Oakland facilities in California – for cash consideration of approximately $1.36 billion. The consummation of the merger transaction between Dynegy and Blackstone is contingent upon the concurrent closing of the Blackstone and NRG Energy transaction.
Goldman, Sachs & Co. and Greenhill & Co., LLC acted as financial advisors to Dynegy and provided Dynegy’s Board of Directors with fairness opinions related to the transaction. Sullivan & Cromwell LLP acted as legal counsel to Dynegy. Credit Suisse Securities (USA) LLC and Blackstone Advisory Partners acted as financial advisors to Blackstone. Simpson Thacher & Bartlett LLP acted as legal counsel to Blackstone.
ABOUT THE BLACKSTONE GROUP L.P.
Blackstone is one of the world’s leading investment and advisory firms. Its alternative asset management businesses include the management of private equity funds, real estate funds, hedge funds, credit-oriented funds, collateralized loan obligation vehicles (CLOs) and closed-end mutual funds. The Blackstone Group also provides various financial advisory services, including mergers and acquisitions advisory, restructuring and reorganization advisory and fund placement services.
TRUBION PHARMACEUTICALS INCORPORATED (NASDAQ: TRBN)
"Up 50.33% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/TRBN.php
Trubion is a biopharmaceutical company that is creating a pipeline of novel protein therapeutic product candidates to treat autoimmune and inflammatory diseases and cancer. The Company's mission is to develop a variety of first-in-class and best-in-class product candidates, customized for optimal safety, efficacy and convenience that it believes may offer improved patient experiences. Trubion's current product candidates are novel single-chain protein, or SMIP, therapeutics, and are designed using its custom drug assembly technology. Trubion's product pipeline includes CD20-directed SMIP therapeutics such as SBI-087 for autoimmune and inflammatory diseases, developed under the Company's Pfizer collaboration. Trubion's product pipeline also includes TRU-016, a novel CD37-targeted therapy for the treatment of B-cell malignancies developed under the Company's Facet collaboration. In addition to Trubion's current clinical stage product pipeline, the Company is also developing its multi-specific SCORPION technology, both for targeting cell-surface molecules as well as simultaneously neutralizing soluble ligands.
TRBN News:
August 13 - Trubion Announces Dates for Second-Quarter and First-Half 2010 Earnings Conference Call
Trubion Pharmaceuticals, Inc. (Nasdaq: TRBN) announced that it plans to issue earnings results for the second quarter and first six months ended June 30, 2010, after the close of market on Aug. 16, 2010. The company's earnings conference call will take place Aug. 16, 2010, at 2 p.m. Pacific Time, 5 p.m. Eastern Time.
Trubion will host a conference call and webcast to discuss its second quarter and six months ended 2010 financial results and provide an update on business activities. The call will be held Aug. 16 at 2 p.m. Pacific Time, 5 p.m. Eastern Time. The live event will be available from Trubion's website at http://investors.trubion.com, or by calling (877) 564-1186 or (973) 409-9686. A replay of the discussion will be available beginning 8 p.m. Eastern Time from Trubion's website or by calling (800) 642-1687 or (706) 645-9291 and entering 93177343. The telephone replay will be available until midnight, Aug. 30, 2010.
ALPHATRADE.COM (OTCBB: APTD)
"Up 20.37% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/APTD.php
AlphaTrade is a recognized financial data providing company specializing in real-time financial market data for the major North American exchanges and markets. AlphaTrade has developed a unique and innovative approach that connects people and data in a way that results in a measurable success for users of our tools. Companies seeking to expand their brand and gain exposure benefit from our dynamic marketing program that combines advertising with investor relations. We utilize a variety of digital media tools in combination with our financial products to accomplish the marketing task.
APTD News:
August 10 - AlphaTrade's Recent 10Q Reported Positive Numbers
Alphatrade.com (OTCBB: APTD) announced positive cash flow for the quarter ending June 30. AlphaTrade is hopeful to continue positive growth and expansion going forward. As detailed in its recent 10Q filed with the SEC, AlphaTrade is pleased to report cash flow positive for Q1 and Q2, 2010.
Optimistically, the economy is digging out of its longest and deepest recession since the 1930s, and has now grown for four straight quarters. This positive news supports AlphaTrade’s goals of expanding services and increasing their client base through aggressive marketing. AlphaTrade.com is committed to provide the most efficient and cost effective resources for the retail and corporate end user, as well as institutional and professional traders.
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