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OTCPicks.com: OTCPicks.com Daily Market Movers Digest Midday Report
for Tuesday, February 26th UITK, BHWF, PRAN, ULGX, SUWN
(M2 PressWIRE Via Thomson Dialog NewsEdge)
RDATE:26022008
Our Stocks to Watch today include Ultitek, Ltd. (OTCBB: UITK), The
Blackhawk Fund (OTCBB: BHWF), Prana Biotechnology Limited (NASD: PRAN),
Urologix, Inc. (NASD: ULGX), Sunwin International Neutraceuticals, Inc.
(OTCBB: SUWN)
Visit http://www.otcpicks.com to register for our Daily Market Mover's
Digest Newsletter, and Email Stock Watch Alerts.
ULTITEK LIMITED (OTCBB: UITK)
Detailed Quote: http://www.otcpicks.com/quotes/UITK.php
Company Profile: http://www.otcpicks.com/ultitek/ultitek.htm
Ultitek, Ltd., through its wholly owned subsidiary TAIS, has been a
provider of Computerized Airline Reservations Systems software (CRS)
since 1989. Today Ultitek Ltd. is the leader among reservations systems
in the Russian Aviation market. In 2003, nine million passengers of 60
airlines were serviced by it, which consisted of more than 50% of the
transport of passengers performed on domestic scheduled flights of
carriers in Russia and the countries of the C.I.S.
UITK News:
February 26 - Ultitek Expects Revenue Increase With E-Ticketing
Agreement Signed With Amadeus
Ultitek, Ltd. (OTCBB: UITK) announced that its wholly owned subsidiary,
TAIS, has agreed to provide E-ticketing services for Air Union through
Amadeus's Global Distribution System (GDS). Air Union is one of
Ultitek's largest customers and controls a number of airlines flying
into and within countries constituting the former Soviet Union. Amadeus
is one of the largest distribution companies in the industry. With this
agreement, Ultitek now provides a bridge for E-ticketing between Air
Union's airlines with distribution systems provided by Amadeus. In
addition, Ultitek also provides E-ticketing to Air Union and its
airline partners through an interlink bridge.
"Our goal is to be a world class player in the airline IT industry.
This agreement with Amadeus places us on the right path. We expect
revenues and profits to increase accordingly," said Roman Price,
Ultitek's CEO.
BLACKHAWK FUND (OTCBB: BHWF) "Up 55.56% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/BHWF.php
The BlackHawk Fund operates as a business development company with
interest in real estate development projects, as well as in media and
television production in the United States. It redevelops and sells
residential and commercial properties. The BlackHawk Fund owns,
operates, manages, and implements proprietary media properties that
primarily include network quality cable television shows, which are
converted to online video magazines and DVDs. The company was founded
in 1998 as USA Telecom. It changed its name to USA Telcom
Internationale in 2000; to ZannWell, Inc. in 2004; and to The Blackhawk
Fund in 2005. The company is based in Carson City, Nevada. The
BlackHawk Fund is a subsidiary of Palomar Enterprises, Inc.
BHWF News:
February 26 - The Blackhawk Fund Reduces the Authorized Common Shares
The Blackhawk Fund (OTCBB: BHWF) announced the reduction of 1 Billion
authorized shares of The Company's common stock. In an effort to
deliver shareholder appreciation, The Board of Directors unanimously
voted in favor of reducing The Company's authorized shares from 4
Billion to 3 Billion shares. Out of the remaining authorized common
shares, The Company's majority shareholder controls the equivalent of 2
Billion shares as Preferred B stock, which are affiliate restricted
shares that cannot be sold into the market. This leaves less than 1
Billion common shares authorized that, if issued, can actually trade in
the market.
The Company will take further steps to consider the reduction of
Preferred B shares, which will be necessary for additional reductions
of The Company's authorized common stock. The Company has taken these
steps to recapitalize The Company in a manner that will yield price
appreciation as The Company's business grows. The Blackhawk Fund has
recently announced the launch of a nationwide radio program that should
provide additional revenue to The Company in proportion to the
increased coverage that has been contracted through the radio program.
PRANA BIOTECHNOLOGY LIMITED ADS (NASD: PRAN) "Up 52.93% in morning
trading"
Detailed Quote: http://www.otcpicks.com/quotes/PRAN.php
Prana Biotechnology Limited, a development stage company, together with
its subsidiaries, engages in the research and development of
therapeutic drugs in Australia. It offers PBT-2, a Phase IIa clinical
trial product for the treatment of Alzheimer's disease. The company's
product is designed to treat the underlying causes of degeneration of
the brain and the eye as the aging process progresses. Its product is
also applied for other therapies, including age-related cataracts,
Huntington disease, Creutzfeldt-Jakob disease, Motor Neuron disease,
age-related macular degeneration, other cancers, and Parkinson's
disease. The company was founded in 1997 and is based in Parkville,
Australia.
PRAN News:
February 26 - Prana Announces Success in Phase IIa Clinical Trial
Teleconference to Be Held at 5:00 p.m. EST
Prana Biotechnology Limited (NASD: PRAN) (ASX: PBT.AX), a
biopharmaceutical company focused on the research and development of
treatments for neurodegenerative disorders, announced successful
results from the Phase IIa clinical trial of PBT2 in Early Alzheimer's
disease.
The Company will host a conference call, to be simultaneously Webcast,
on Tuesday, February 26, 2008 at 5:00 p.m. Eastern Standard Time /
Wednesday, February 27, 2008 at 9:00 a.m. Melbourne time. A
question-and-answer session will follow management's presentation.
Interested parties may participate in the conference call by dialing
the following numbers approximately five to ten minutes before the call
start time:
+ 888-713-4218 from the US or Canada (toll-free) +1 617-213-4870
(International)
A live Webcast of the conference call will be available on the Prana
Web site at www.pranabio.com.
A replay of the call will be available starting on February 26, 2008,
at 8:00 p.m. Eastern Standard Time / February 27, 2008 at 11:00 a.m.
Melbourne time through March 3, 2008 at 11:59 p.m. Eastern Standard
Time. An archived Webcast of the conference call will be available on
the Prana Web site at www.pranabio.com. Interested parties may access
the replay by dialing the following numbers and entering the account
number and conference ID number below:
+1-888-286-8010 (North America) +1-617-801-6888 (International)
Conference ID Number: 16766828
UROLOGIX INCORPORATED (NASD: ULGX) "Up 17.95% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/ULGX.php
Urologix, Inc. develops, manufactures, and markets minimally invasive
medical products for the treatment of urological disorders in the
United States and internationally. It provides non-surgical,
catheter-based therapies that use a proprietary cooled microwave
technology for the treatment of benign prostatic hyperplasia, a
non-cancerous disease. The company offers control units under the
Targis, Prostatron, and CoolWave names; and procedure kits under CTC,
Targis, and Prostaprobe names. Urologix also involves in developing
generation catheter under CoolMax name with a focus on combining
durability with patient comfort. It sells its products to hospitals and
urologists through local distributors and independent agents. The
company was founded in 1991 and is based in Minneapolis, Minnesota.
ULGX News:
February 25 - Urologix Announces Leadership Changes
Urologix , Inc. (NASD: ULGX) announced that its Board of Directors
appointed Mitchell Dann as Chairman of the Board and interim Chief
Executive Officer. Concurrently, the Board of Directors has accepted
the resignation of Fred B. Parks as Chief Executive Officer and
Chairman effective immediately. The Company has engaged SpencerStuart,
a leading executive search consulting firm, to assist the Company in
its search for a CEO. The Board of Directors also announced today that
it has appointed William M. Moore to the Company's Board of Directors
effective immediately.
Mr. Dann is a co-founder of the Company and served as a director from
its inception in 1991 until 2005. Mr. Dann is also the founder and
managing member of Sapient Capital Management, L.L.C., the general
partner of the general partner of Sapient Capital, L.P., a venture
capital firm specializing in the medical device industry. Mr. Dann has
over 25 years of experience working with medical device companies as an
investor, entrepreneur, executive, adviser and board member. Mr. Dann
also serves as a member of the board of directors of TranS1 Inc., a
publicly-held medical device company. Mr. Dann received a B.S. degree
in Engineering from the University of Vermont.
Mr. Moore is currently a consultant to various medical device and
health care companies and investors in these companies, including
BlueLine Partners, L.L.C., a significant shareholder of Urologix. Mr.
Moore has served as a general partner of Alpine Partners, a venture
capital firm, since March 2003. Mr. Moore was a co-founder and, from
1998 until 2003, Chief Executive Officer of MetaSENSORS Inc. a health
care development company. Mr. Moore also serves on the Board of
Directors of Criticare Systems, Inc. (AMEX: CMD), Iridex Corporation
(NASD: IRIX) and Natus Medical Inc. (NASD: BABY), a company he
co-founded in 1990 and for which he served as its CEO until 1993. Mr.
Moore earned his B.S. degree from the University of Utah.
Fred Parks stated, "I am pleased to have worked with the talented
people at Urologix for nearly five years. I believe the new leadership
at Urologix will allow the Company to realize the full potential of its
business."
"It is an honor for me to return to Urologix to be of service during
this time of leadership transition. We founded Urologix to develop a
safe, effective, durable, less invasive treatment for enlarged prostate
disease or BPH that could be performed in the comfortable setting of a
physician's office. The high quality clinical trials of Urologix'
Cooled ThermoTherapy that have been conducted over the years
demonstrate achievement of the Company's founding objective. While it
is a challenging time for the Company, I am looking forward to working
with the Urologix team and our Urologist partners in providing Cooled
ThermoTherapy as a treatment solution in the management of enlarged
prostate disease," stated Mitch Dann.
SUNWIN INTERNATIONAL NEUTRACEUTICALS (OTCBB: SUWN) "Up 16.67% in
morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/SUWN.php
Sunwin International Neutraceuticals engages in the areas of essential
traditional Chinese medicine, zero calorie natural sweeteners (stevia),
and veterinary medicines and feeds prepared from 100% organic herbal
ingredients. As an industry leader in agricultural processing, Sunwin
has built an integrated global firm with the sourcing and production
capabilities to meet the needs of consumers throughout the world.
Sunwin also makes such value-added products as specialty veterinary
food ingredients and specialty feed ingredients. For more info about
Sunwin, please visit www.sunwin.biz.
SUWN News:
February 26 - SUNWIN USA Announces 500 New Grocery Stores Carrying
OnlySweet
SUNWIN USA, the wholly owned subsidiary of Sunwin International
Neutraceuticals, Inc. (OTCBB: SUWN), one of the world's leading
producers of all natural zero calorie stevia, announced that leading
grocery retailers Giant Eagle, Marsh and HEB stores have received their
initial orders for the company's dietary supplement brand
OnlySweet(TM). These 500 additional stores increase the brand's
exposure to over 3,500 large format grocery stores in the United States
including retailers such as Kroger, Meijer and many Albertson's stores.
Jeff Reynolds, President and CEO of SUNWIN USA, stated, "We continue to
make progress in securing new distribution with key retailers across
the country. Many grocery retailers are looking for new and innovative
products that satisfy the growing consumer demand for all natural, zero
calorie products. Historically, stevia products could only be found in
health and specialty food stores, or sometimes in health food sections
of grocery stores at very high prices. We are working very hard to
change those trends. Our naturally sweet dietary supplement
OnlySweet(TM) is a product that retailers and consumers are excited to
see offered in grocery stores, in traditional locations like the baking
aisle. Retailers who are viewed as leaders in the industry understand
this approach has merit and are supporting our brand. We remain
optimistic as we continue to take significant steps forward in the
process of building our product brand for the future."
ABOUT ONLYSWEET
OnlySweet(TM) is a proprietary product blended with Stevioside
(stevia), an all natural, zero calorie, naturally sweet dietary
supplement, extracted from the leaves of the stevia rebaudiana plant.
OnlySweet(TM) is blended and packaged in the United States, and is
distributed by SUNWIN USA, Inc. in over 3500 grocery stores in the
United States. Stevia is used as a food additive in a wide variety of
products, such as beverages, pastries, dairy products, confections and
medicinal products in Japan, China, Malaysia, Israel, South Korea,
Brazil and other countries. In the United States, OnlySweet(TM) is a
dietary supplement sold in boxes of 100 and 200 packets. It has zero
calories and does not significantly alter blood sugar levels.
OnlySweet(TM) is unique because its stevia only comes directly from
Sunwin International Neutraceuticals (OTCBB: SUWN), one of the world's
largest stevia manufacturers, assuring consistency and purity.
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