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OTCPicks.com: OTCPicks.com Daily Market Movers Digest Midday Report for Friday, October 10th MVSR, PGOG, CPRK, APNT, MCGC, VOXX(M2 PressWIRE Via Acquire Media NewsEdge) RDATE:10102008 Our Stocks to Watch today include Medivisor Inc. (OTC: MVSR), Perf Go Green Holdings Inc. (OTCBB: PGOG), Copper King Mining Corp. (OTC: CPRK), Applied Nanotech Holdings Inc. (OTCBB: APNT), MCG Capital Corp. (Nasdaq: MCGC) and Audiovox Corp. (Nasdaq: VOXX). Visit http://www.otcpicks.com to register for our Daily Market Mover's Digest Newsletter and Email Stock Watch Alerts. MEDIVISOR INCORPORATED (OTC: MVSR) Detailed Quote: www.otcpicks.com/quotes/MVSR.php Company Profile: http://www.otcpicks.com/medivisor/medivisor.htm Medivisor, Inc. provides medical information to healthcare professionals, primarily physicians, through its Web sites, using inter-active, informational, and video and graphic presentations. It also focuses on offering Web site services to various industries seeking direct access to physicians, including providers of continuing medical education courses; sponsors of medical conferences and seminars; and pharmaceutical companies, using an online marketing format known as e-detailing. The company was founded in 2002 and is headquartered in Huntington Station, New York. MVSR News: October 9 - Medivisor, Inc. Set to Launch 'Maximum Energy Shot' Medivisor, Inc. (OTC: MVSR), developer of next-generation focus driven marketing tools, announced today that it is in its final stages of pre-production of its proprietary drink, Maximum Energy Shot. Packaging and labeling should be completed by the end of the week, with production and national distribution to commence shortly. As previously announced this product will target both the United States and European markets. According to Market Research Group, the energy drink category has grown by 440% since 2002 to a whopping $6.6 billion in 2007 and is expected to reach $9 billion in 2011. "We are anxiously awaiting the official launch of Medivisor's beverage, Maximum Energy Shot," stated Dino Luzzi, CEO of Medivisor, Inc. "We anticipate that the product will be available for viewing and purchase on the company's web site shortly," Mr. Luzzi added. PERF GO GREEN HOLDINGS INCORPORATED (OTCBB: PGOG) Detailed Quote: www.otcpicks.com/quotes/PGOG.php Company Profile: http://www.otcpicks.com/perf-go-green/perf-go-green.htm Perf Go Green Holdings, Inc. is engaged in the creation and global marketing of 100% eco-friendly, non-toxic, food-contact-compliant, biodegradable plastic products. All Perf Go Green products are made from recycled plastics and completely break down in landfill within two years, leaving no toxic or visible residue, as compared to other plastics that take hundreds of years. Perf Go Green's corporate name reflects its "Go Green" mission to develop, market and distribute biodegradable plastic products as a practical and viable solution to eliminating plastic waste from the world environment. PGOG News: October 8 - Perf Go Green Products Hit Retail Shelves Nationwide Perf Go Green Holdings, Inc. (OTCBB: PGOG) ("Perf Go Green"), a marketer and distributor of biodegradable plastics, announced that its 13-gallon kitchen trash bags and 30-gallon lawn and leaf bags are on retail shelves at more than 6,000 Walgreens locations throughout the U.S. "Our roll-out at Walgreens took place right on schedule in mid-September," said Chairman and CEO Tony Tracy. "We are thrilled that our biodegradable bags are available nationwide with this leading retailer, offering consumers an easy, cost-effective way to reduce plastic waste and benefit the environment as they shop for household necessities. Reception by consumers has been enthusiastic and, in fact, we've already received three re-orders from Walgreen's. "From the get go, Perf Go Green's goal has been to offer a 'green' plastics platform to households and business all over the U.S. With the completion of our launch at Walgreens, as well as the many other retail launches and commercial conversions we have on tap for this fall, we're poised to make that goal a reality. Perf Go Green is helping to lead the way in the 'go green movement,' which analysts project will become a $500 billion market in the U.S. by 2009." Walgreens is the nation's largest drugstore chain with fiscal 2007 sales of $53.8 billion. Founded in November 2007, Perf Go Green premiered at the March 2008 International Home and Housewares Show in Chicago, where its products received an honor for their design quality and innovation. Perf Go Green products incorporate recycled plastics that are combined with an Oxo-Biodegradable proprietary application method to produce the film for the bags. Based on environmental claims statements made by the manufacturer of the Oxo-Biodegradable applied to our bags, when discarded in soil and exposed to the presence of microorganisms, moisture and oxygen, we believe Perf Go Green products biodegrade, decomposing into simple materials found in nature within two years, as opposed to regular plastics, which can take hundreds of years to break down. Through this process and the use of recycled plastics, the company effectively removes plastic waste from the environment. In addition, Perf Go Green kitchen trash bags utilize a unique patented dispensing system that stores the bags on the bottom of trashcans and dispenses them one at a time. According to Landor Associates, the "go green movement" is poised to become a $500 billion market in the U.S. by 2009. COPPER KING MINING CORPORATION (OTC: CPRK) Detailed Quote: www.otcpicks.com/quotes/CPRK.php Company Profile: www.otcpicks.com/copper-king-mining/copper-king-mining.htm Copper King Mining Corporation currently owns approximately 1200 acres in the Drum Mountains of Utah, which are patent deeded mining claims which contain gold, silver and copper. The company recently added to its holdings by filing six more claims on land which was inside their holdings, but not patent deeded. Contiguous to that acreage is approximately 1100 acres of claims filed by Western Utah Copper Company. As the companies explored the concept of a joint venture on the Drum Mountain properties, it was decided that a very viable consideration was to join the total assets of both companies. CPRK News: October 8 - Copper King Mining Corporation Announces Mining Updates Copper King Mining Corporation (OTC: CPRK), an ore mining, processing, and exploration company located in Southern Utah, provided updates concerning its operations. Significant Contract The company recently awarded a contract to Quality Crushing of Cedar City Utah for two purposes: first to produce road base for dust suppression on the mine haul road surface. This will facilitate more efficient travel between the company's operating mines and the Flotation Mill; and second to, perform ore crushing services during the Flotation Mill's first operating year. As soon as Quality completes the road base construction, it will commence crushing ore for the Flotation Mill's concentrator, which is projected to be in late November 2008. Concentrator and Mill Components The company anticipates that the concentrator will be online and operational within sixty days or less. As of this press release's date, nearly all mill components are paid for as construction enters in final phases. The company believes that only small items are left to be purchased, such as vales, meters, etc. APPLIED NANOTECH HOLDINGS (OTCBB: APNT) "Up 17.65% in morning trading" Detailed Quote: http://www.otcpicks.com/quotes/APNT.php Applied Nanotech Holdings, Inc. engages in the research and development of nanotechnology products, primarily carbon nanotubes (CNTs), for use principally in the display, electronics, sensor, and medical industries. Its technology platforms include electron emission, a field emission display technology for various display applications, such as CNT flat screen color field emission displays, surface conduction color field emission displays, backlights for displays, pets for various electronic billboards; and non-display applications, including traveling wave tubes, non-radioactive sources, neutron and gamma-ray sources, and lighting devices. The company's technology platforms also consist of sensor technology, which is used in biosensors, hydrogen sensors, and carbon monoxide sensors; and nanoelectronic applications, such as conductive inks, which are used in printed circuit boards, flexible electronics and displays, communications instrumentation, and radio frequency identification devices. In addition, its technology platforms include functional nanomaterials using carbon nanotube and other composites; and nano-ecology platform, including Photoscrub technology, which is based on an air purification technology. The Photoscrub is a thin film coating on a fiberglass cloth that decomposes pollutants at the molecular level in liquids and gases. The company, formerly known as Nano-Proprietary, Inc., was founded in 1987 and is headquartered in Austin, Texas. APNT News: October 8 - Applied Nanotech Holdings, Inc. Announces License Agreement With Prominent Sporting Goods Manufacturer Applied Nanotech Holdings, Inc. (OTCBB: APNT) announced that as a result of the success of the joint research program of the companies, it has entered into a license agreement with a prominent sporting goods manufacturer covering Applied Nanotech's carbon composite technology. The license grants the sporting goods manufacturer the exclusive right to use ANI's technology in the manufacture and sale of tennis and badminton racquets in Japan and Taiwan, and the nonexclusive right to sell these products on a worldwide basis. The license agreement also contemplates the potential expansion into the golf club shaft market, defining the terms and royalties should the manufacturer choose to enter production in the future. In exchange for this license, ANI will receive an initial royalty fee of $577,000 and an ongoing royalty of 4% based on sales of the sporting goods manufacturer's products using the technology. The manufacturer will also fund additional development of the technology to facilitate integration of the technology into the manufacturing process. "As we reported in our press release of June 17, 2008, ANI has achieved improvements of over 40% in flexural strength and over 30% in compression strength for epoxy/carbon nanotube composites. The properties of these new composites were successfully transferred to the process of manufacturing fiber reinforced plastics (FRP) where ANI achieved a promising 23% improvement in the flexural strength and improvements in the compression strength of the final RFP, which will allow the research and development results to be transferred to manufacturing," said Dr. Zvi Yaniv, CEO of Applied Nanotech, Inc. "We are pleased that our efforts in the composites area have led to this license agreement," said Tom Bijou, Chairman and CEO of Applied Nanotech Holdings, Inc. "Although the total size of the exclusive markets for the targeted racquet products is limited, estimated at less than $150 million annually in the exclusive region, our success with this project has opened the door to opportunities with other companies and for other applications. We expect composites to be an increasingly important area of our business allowing lighter weight products with equal strength or stronger products of the same weight." MCG CAPITAL CORPORATION (NASDAQ: MCGC) "Up 8.57% in morning trading" Detailed Quote: http://www.otcpicks.com/quotes/MCGC.php MCG Capital Corporation is a solutions-focused commercial finance company providing capital and advisory services to middle market companies throughout the United States. Our investment objective is to achieve current income and capital gains. Our capital generally is used by our portfolio companies to finance acquisitions, recapitalizations, buyouts, organic growth and working capital. MCGC News: October 9 - MCG Capital Announces Appointment of Chief Financial Officer MCG Capital Corporation (Nasdaq: MCGC) ("MCG") announced that Michael McDonnell, Chief Operating Officer, Executive Vice President and Chief Financial Officer, resigned his positions effective November 7, 2008 to pursue another opportunity outside of the financial services industry. Effective November 7, 2008, Stephen J. Bacica, the Company's Senior Vice President and Chief Accounting Officer, will assume the position of Executive Vice President and Chief Financial Officer. "Mike has provided sound business and financial counsel during his tenure with MCG. We appreciate his years of service and many contributions to the Company, and we wish him success with his new opportunity," said Steve Tunney, President and Chief Executive Officer of MCG. "We believe the current senior management and finance teams are well-positioned to assume Mike's responsibilities." "I have enjoyed my time at MCG and wish the Company future success," said Mike McDonnell. "I am proud of the team we have assembled and have every confidence in their abilities. The opportunity to return to the satellite industry was something that was extremely appealing to me and I look forward to my upcoming challenges." Mr. McDonnell has served as MCG's Chief Operating Officer since August 2006 and as Executive Vice President, Chief Financial Officer and Treasurer since September 2004. AUDIOVOX CORPORATION (NASDAQ: VOXX) "Up 17.87% in morning trading" Detailed Quote: http://www.otcpicks.com/quotes/VOXX.php Audiovox is a recognized leader in the marketing of automotive entertainment, vehicle security and remote start systems, consumer electronics products and consumer electronics accessories. The company is number one in mobile video and places in the top ten of almost every category that it sells. Among the lines marketed by Audiovox are its mobile electronics products including mobile video systems, auto sound systems including satellite radio, vehicle security and remote start systems; consumer electronics products such as MP3 players, digital camcorders, DVRs, clock radios, portable DVD players, portable GPS, flat-panel TV's, extended range two-way radios, multimedia products like digital picture frames and home and portable stereos; consumer electronics accessories such as indoor/outdoor antennas, connectivity products, headphones, speakers, wireless solutions, remote controls, power & surge protectors and media cleaning & storage devices; Energizer-branded products for rechargeable batteries and battery packs for camcorders, cordless phones, digital cameras and DVD players, as well as for power supply systems, automatic voltage regulators and surge protectors. The company markets its products through an extensive distribution network that includes power retailers, 12-volt specialists, mass merchandisers and an OE sales group. The company markets products under the Audiovox, RCA, Jensen, Acoustic Research, Energizer, Advent, Code Alarm, TERK, Prestige and SURFACE brands. VOXX News: October 10 - Audiovox Corporation Reports Fiscal 2009 Second Quarter and Six Months Results Audiovox Corporation (Nasdaq: VOXX) announced results for its fiscal 2009 second quarter and six months ended August 31, 2008. Net sales for the quarter ended August 31, 2008 were $147.2 million compared to net sales of $148.3 million reported in the comparable prior year period. Net loss during the quarter ended August 31, 2008 was approximately $2.3 million or a loss of $0.10 per diluted share, compared to net income of $3.7 million or earnings per diluted share of $0.16 in the comparable period last year. Patrick Lavelle, President and CEO stated, "Our results this quarter and throughout the first half of the year are reflective of a deteriorating global economy, as consumer confidence continues to suffer, particularly in the U.S. Our sales and margins have been impacted by a decline in consumer spending and lower automotive sales. As a result, we have taken aggressive steps to better align our operations beyond what was previously forecasted. Price increases instituted in the second quarter and recent overhead reductions should position us for a profitable second half of the year." Lavelle added, "Economic forces will continue to hinder our growth and ability to generate the types of returns we believed we were capable of delivering following last year's acquisitions. However, I am encouraged by our presence at retail, which is the strongest in our Company's history and we have improved our competitive position in many of our primary market categories. Our balance sheet and cash position remain healthy and that should provide us with advantages and opportunities to expand, both near and long-term." Electronics sales, which include both mobile and consumer electronics were $111.7 million for the quarter ended August 31, 2008, an increase of 4.1% compared to $107.3 million reported in the comparable fiscal 2008 period. This increase is primarily related to incremental sales generated from the RCA Audio/Video operations and increases in the Company's operations in Germany, Mexico and Venezuela. Offsetting these increases were declines in select mobile, audio and video categories due to the weakening U.S. economy. Additionally, sales were impacted by the discontinuance of certain less profitable categories such as portable navigation and LCD flat-screen televisions. Accessories sales for the fiscal 2009 second quarter were $35.5 million, a decrease of 13.4% compared to $41.0 million reported in the period ended August 31, 2007 and are a result of the overall decline of the U.S. economy. This decrease was partially offset by sales of $3.5 million generated from the Technuity acquisition in November 2007. For the period ended August 31, 2008, gross margins were 17.0% compared to 19.2% during the period ended August 31, 2007. Gross margins were adversely impacted by several factors, including the cost of production, increases in material, labor and energy costs and increases in foreign currency exchanges versus the U.S. dollar. Additionally, the Company continued to experience higher inbound and outbound freight, warehouse and assembly costs in the year-over-year periods. As previously announced, the Company has instituted price increases across the board, most of which took effect in the fiscal 2009 third quarter. These increases, new product introductions and other steps should have a positive impact on the Company's gross margins moving forward. The Company reported operating expenses of $29.1 million for the three months ended August 31, 2008, compared to $24.6 million reported in the comparable period last year. The increase in total operating expenses is primarily due to approximately $4.6 of expenses related to the acquired businesses of Technuity and the RCA A/V operations and $1.0 million in workforce reduction charges. During the second quarter, the Company approved a plan to further reduce operating costs in light of the current economic climate. As a result, headcount for the quarter was reduced by approximately 8% and the Company anticipates a cost savings in salary and compensations expenses of approximately $6.0 million on an annualized basis. In addition to the reduction in work force expenses, the Company anticipates further operational savings from the second quarter plan. Six Months Results Total net sales for the six month period ended August 31, 2008 were $291.8 million, an increase of 5.5% compared to net sales of $276.5 million in the six month period ended August 31, 2007. Electronics sales for the fiscal 2009 six month period were $225.4 million, up 11.4% compared to $202.2 million in the comparable fiscal 2008 period. This increase was primarily due to incremental sales generated from the acquired RCA Audio/Video operations, increased sales in core consumer product lines and higher sales volumes in Germany, Mexico and Venezuela. Accessories sales for the fiscal 2009 six month period were $66.4 million, down 10.6% compared to $74.3 million in the same period last year. Both electronics and accessories sales continued to be impacted by the overall decline in the U.S. economy. Gross margins decreased by 240 basis points from 18.7% during the first six months of fiscal 2008 to 16.3% in the first six months of fiscal 2009. Gross margins were unfavorably impacted by the Company's decision to exit the portable navigation business, which was reported in the 2009 first fiscal quarter, resulting in a charge of $2.9 million or approximately 1.0% of gross margin. Additionally, higher costs associated with manufacturing, labor, transportation, energy and warehousing adversely impacted gross margins in fiscal 2009 as compared to the prior year period. Operating expenses increased $10.2 million or 20.7% to $59.5 million for the six months ended August 31, 2008, from $49.3 million for the six months ended August 31, 2007. The increase in total operating expenses is due to $1.0 million of workforce reduction charges and incremental costs of $9.0 million related to costs associated with the recently acquired Technuity and RCA Audio/Video operations. Additionally, operating expenses for the six months ended August 31, 2007 included a $1.0 million benefit related to a call/put option previously granted to certain employees as a result of the reduction in the call/put liability calculation. Net loss was $7.5 million or a loss of $0.33 per diluted share in the fiscal 2009 six month period compared to net income of $6.0 million or earnings per diluted share of $0.26 comparable in the period ended August 31, 2007. Net income for the fiscal 2008 period ended August 31, 2007 was favorably impacted by $2.1 million in income from discontinued operations as a result of a derivative legal settlement. ABOUT OTCPICKS.COM OTCPicks.com is an Internet destination for investors seeking information on smallcap and microcap companies. The web site features companies in Profile Campaigns, Executive Interviews and Profile Research Reports authored by our financial writers. We publish a daily Newsletter to subscribers, and we publish our Daily Market Movers Digest which is sent out on the M2 Presswire several times daily highlighting hot OTC and OTCBB stocks. To feature a company on our web site or in our daily Newsletter or Market Mover's Digest, please contact our publisher, Brian Dean at 972-546-3740, or via email at [email protected]. Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. This disclaimer is to be read and fully understood before using our site, or joining our email list. PLEASE NOTE: The OTCPicks.com employees are NOT Registered as an Investment Advisor in any jurisdiction whatsoever. 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