October 2009 - Page 8 of 34

MondayOct 26, 2009 10:57 am

Magnum Hunter Resources Corp. (MHR) Secures $150M Revolving Credit Facility

Magnum Hunter Resources Corp. announced today a three-year, senior secured, revolving credit facility with the Bank of Montreal (BMO). This new $150 million bank facility will be regulated via a semi-annual redetermination of its borrowing base, whose value will be allocated to MHR’s proved crude oil and natural gas reserves. MHR, and its subsidiaries, is an independent oil and natural gas exploration and production company based in Houston, Texas. Focused on leveraging the expertise of its management team to create maximal value for its shareholders, MHR enjoys an annual ROI of approximately 37%. The price of shares jumped 11% in…

MondayOct 26, 2009 10:54 am

West Coast Bancorp (WCBO) Raises Capital through Preferred Stock Offering

West Coast Bancorp raised capital of $155 million in an offering of two separate issues of Convertible Preferred Stock to institutional investors, including MFP Partners, L.P., Castle Creek Capital, and GF Financial, LLC. West Coast Bancorp issued 1.43 million shares of Series A Mandatorily Convertible Participating Preferred Stock and 0.12 million shares of Series B Convertible Participating Preferred Stock. The Series A stock is convertible into 71.4 million shares of West Coast Bancorp at a price of $2.00 per share. The Series B stock is convertible into 6.1 million shares of West Coast Bancorp also at a price of $2.00…

MondayOct 26, 2009 9:00 am

Magnum D’Or Resources, Inc. (MDOR.OB) Receives Coverage in Prominent Investor Magazine

Next generation rubber recycling solutions company, Magnum D'Or Resources, Inc., takes the opportunity today to release market updates. MDOR and Magnum SRI 'Next generation' Custom Compounds have recently received front-page coverage from Malaysia's best selling and highly regarded publication on business and investment, 'The Edge.' The publication caters to clients with interest in the Malaysian financial market. 'The Edge' is one of the first widely circulated professional information organizations to recognize the company’s’ technological advancements. The publication highlighted the developments of Magnum/SRI and how it will advance the future for OEM Virgin Tire and Retread tire manufactures. The publication also…

MondayOct 26, 2009 8:50 am

Quick-Med Technologies, Inc. (QMDT.OB) Receives FDA Guidance for NIMBUS Product

Today, Quick-Med Technologies, Inc. announced that the FDA has issued guidance to support the company’s NIMBUS® barrier gauze wound dressings as Class II medical devices. The innovative wound dressing received its initial market clearance in February 2009 following the FDA’s “De Novo” review process, a special clearance program for medical devices that are “not substantially equivalent” to any predicate device. Ladd Greeno, Quick-Med CEO, stated, “This guidance is important because it now lets us pursue other planned medical device applications using our own bandage product as a predicate device. And since we have significant patent protection using this molecule, we…

MondayOct 26, 2009 8:35 am

Wayne Savings Bancshares, Inc. (WAYN) Reports Second Quarter Profit

Wayne Savings Bancshares, Inc. reported earnings for its second fiscal quarter of 2009 totaling $652,000, or $0.23 per share. This was up slightly from the $601,000, or $0.21 per share, it reported in the same quarter last year. Wayne Savings Bancshares, Inc. achieved year over year growth in net income despite a quadrupling of loan loss reserves from $100,000 to $380,000. The bank reported 1.37%, or $5.5 million, of its total assets as nonperforming as of 9/30/2009. The bank saw its net interest income increase $284,000 on a year over year basis as interest expenses fell by a greater amount…

MondayOct 26, 2009 8:32 am

Park City Group, Inc. (PCYG.OB) Previews Strong First Quarter Results

Park City Group, Inc., a retail supply chain solutions company, Friday announced that it expects fiscal first quarter Earnings per Share and EBITDA to exceed expectations with improvement driven by strong revenue growth and expense management initiatives. Highlights of fiscal first quarter preliminary results for the quarter ended September 30, 2009 are below: • Revenue in the range of $2.6 and $2.7 million vs. $530,000 in the first quarter of fiscal 2009. The revenue increase was primarily due to the acquisition of Prescient Applied Intelligence, Inc. in January of 2009. • Sequential quarterly EBITDA improvement of 60% with first quarter…

MondayOct 26, 2009 8:30 am

American Apparel (APP) Announces Opening of Newest Clothing Store in Ideal Canadian District

American Apparel is a vertically integrated branded fashion apparel in downtown Los Angeles. Operating more than 275 retail stores in 20 different countries, the company recently announced its newest store opening in Victoria, British Columbia. The store is located on Lower Johnson Street, a short walk from popular boutiques, restaurants and cafes in the area. The company renovated the 3,000-square-foot space with archive photos of the building’s original look. "Lower Johnson is the perfect street for our brand and we were very set on having our only store in Victoria on this street as opposed to the malls or another…

MondayOct 26, 2009 8:25 am

Investing in the Age of Twitter: Introducing QualityStocksTwits, Enabling Real-Time Discussion and Discovery

QualityStocks, a free service that collects data from hundreds of Small-Cap and Micro-Cap online Investment Newsletters into one free Daily Newsletter Report, today announces the introduction of QualityStocksTwits (“QSTwits”). Available FREE at www.QualityStocksTwits.com, the Web 2.0 site collates Twitter’s investment discussions in real-time, enabling investors to track the web’s savviest investors as well as build their own following. Social media has changed the way we research companies and how information gets processed. QSTwits gathers data from Twitter on any company, big or small. With QSTwits, users can eavesdrop on what traders are talking about right now or contribute to the…

MondayOct 26, 2009 8:22 am

Muscle Flex, Inc. (MFLI.PK) Selects Chief Media as Its National Media Buyer for Its BUDDY Tablet Caddy and the Beagle StepFit Infomercials

Muscle Flex Inc. announced that it has chosen Chief Media as its national media buyer for the BUDDY Tablet Caddy(TM) (www.BUDDYTabletCaddy.com) and the Beagle StepFit(TM) (www.BeagleStepFit.com) infomercials. As one of the nation's top large scale television, print, radio and online media purchasers, Chief Media is a leader in the direct response industry. Chief Media provides a wealth of value added expertise that includes business development, research as well as data tracking, data assimilation and overall program analysis. Having developed a close relationship with the principals at Chief Media, Muscle Flex is eager to utilize their years of expertise in the…

MondayOct 26, 2009 8:15 am

Axial Vector Energy Corp. (AXVC.PK) Sets Sights on Dubai Award for Sustainable Transport Under Environmental Protection Category

Axial Vector Energy Corporation announced today its entry for the Environmental Protection Category for the Dubai Award for Sustainable Transport 2nd Edition, under the patronage of HH Sheikh Hamdan Bin Mohammed Bin Rahid Al Maktoum, Crown Prince of Dubai & Chairman of Dubai Executive Council. This particular award displays Dubai's leadership in supporting sustainable transport to make the world a better place. According to the press release, AVEC'S "ultra clean hybrid taxi" would provide the Dubai government a 50% fuel savings and a 75% reduction in exhaust gases for Dubai Taxi Corporation (DTC) at Roads and Transport Authority (RTA) fleet.…

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Month: October 2009