Abraxas Petroleum (NASDAQ: AXAS) $4.66 The stock has dipped 4.3% with a midday volume of 7.3 million, since the announcement that Abraxas Petroleum upsized and priced public offering. Company announces it has priced its previously announced underwritten public offering of 20,503,337 shares of common stock (12,000,000 shares to be sold by co and 8,503,347 shares to be sold by certain stockholders) at a public offering price of $4.40 per share. The primary component of the offering has been upsized by 20% due to demand. Co intends to use the net proceeds from the offering to repay indebtedness outstanding under its credit facility, to increase its 2011 capital expenditure budget and for general corporate purposes.
Abraxas Petroleum Corporation is an independent energy company primarily engaged in the development and production of oil and gas. As of December 31, 2009, its properties were located in the Rocky Mountain, Mid-Continent, Permian Basin and Gulf Coast regions of the United States. On October 5, 2009, Abraxas Petroleum Corporation acquired 100% ownership of Abraxas Energy Partners, L.P.
Tongxin International (NASDAQ: TXIC) $1.10 With the news lingering that Saxena White P.A. has filed a class action lawsuit in the United States District Court for the Central District of California on behalf of all investors who purchased securities during the period between May 15, 2009 and December 14, 2010, inclusive seeking to recover damages caused by defendants' violations of the federal securities laws, p.p.s has not moved much but it has showed a significant increase in volume. With 3x the average volume, this stock might be on radar for tomorrow.
Tongxin International through its wholly subsidiary Hunan Tongxin Enterprise Co., Ltd, is engaged in designing, developing, manufacturing, selling and servicing of automotive engineered vehicle body structures (EVBS), body panels, and dies, primarily in the People's Republic of China (PRC), with some exports to Vietnam. It is an independent supplier of EVBS in China providing EVBS for both the commercial truck and light vehicle market segments. EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders.
Nighthawk Systems Inc. (Pink Sheets: NIHK) $0.0140 Talk about an explosion in price! Stock has been rallying nearly 200% in the past couple of days, and it gained another 58% today with an unusual volume of 2.1 million shares. Stick around to see if NIHK can continue its bullish momentum.
Nighthawk Systems, Inc. (Nighthawk) is a provider of wireless and Internet protocol (IP)-based control solutions for the utility and hospitality industries. Nighthawk's Power Controls Division uses wireless technology to control both residential utility meters and remote, mission-critical devices. The Power Controls Division gives electric utilities the ability to control electrical service at the meter and to individual appliances, such as air conditioners, hot water heaters and pool pumps.
Insight Management Corp. (OTC: ISIME) $0.0006 ISIME has been losing ground with an additional drop of 17.65% in price with a very light volume of 38K. Traders are very cautious about the future of this company and they’re selling this loser aggressively. If the stock continues with no liquidity and a dry volume, there will be no hope left for this one.
Insight Management Corporation (Insight) is a development-stage company. The Company is a holding company focused on the energy industry. Effective June 29, 2009, the Company acquired through a wholly owned subsidiary all of Microresearch Corporation in a reverse triangular merger. Upon effecting the reverse merger, the Company's business plan was to acquire and development oil and gas services businesses in the energy industry.
Left Behind Games Inc. (OTC: LFBG) $0.0037 Speaking of Left Behind Games, this stock has really been left behind at this point. Few days ago, we mentioned how the company has acquired certain assets of MyPraize, a Christian social media network. Well apparently it didn’t pan out too well as the stock is beginning to lose steam with a small percentage drop of 2.4% with an increased volume of 7 million , twice the normal average.
Left Behind Games Inc., dba LB Games, a publisher of exclusively Christian video games, announced that it has acquired the assets of MyPraize, a Christian social media network. LB Games' CEO, Troy Lyndon, says, "The MyPraize acquisition is strategic because it expands our reach to new customers while providing the platform to connect regularly with them."
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Forward-Looking Statement: This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
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