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OTCPicks.com: OTCPicks.com Stocks to Watch for Monday, November 12th
SRSR, SSPE, TPDI, BMNM, FMNJ, TWMC
(M2 PressWIRE Via Thomson Dialog NewsEdge)
RDATE:12112007
Our Stocks to Watch for tomorrow include Sarissa Resources, Inc. (OTC:
SRSR), SUN Sports & Entertainment Inc. (OTC: SSPE), True Product ID,
Inc. (OTCBB: TPDI), Bimini Capital Management, Inc. (OTC: BMNM),
Franklin Mining, Inc. (OTC: FMNJ) and Trans World Entertainment
Corporation (NASD: TWMC).
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Digest Newsletter, and Email Stock Watch Alerts
SARISSA RESOURCES (OTC: SRSR) "Up 112.50% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/SRSR.php
Sarissa Resources Inc. is a North American exploration junior with
initial exploration properties in Northern Ontario, Canada. These
properties include PGE, diamond and base metal exposure.
SRSR News:
November 9 - Sarissa Resources Inc. Is Pleased to Announce That Scott
Keevil Will Join the Board and Become CEO
Sarissa Resources, Inc. (OTC: SRSR) announced the appointment of Scott
Keevil as the new CEO of the company commencing December 1, 2007. Ben
Fuschino, the current Sarissa CEO, comments, "The board and I have
brought Sarissa to a point where the company needs a seasoned
professional who has experience in building and running exploration
companies to exploit Sarissa's current mineral property portfolio, as
well as to significantly expand on that existing portfolio. I will stay
on as a director and Secretary Treasurer and help Scott in any way that
he needs. I am extremely happy Scott has accepted the position."
Scott Keevil has been involved in the mineral exploration industry for
20 years. In his previous positions he has worked on the exploration
side for the most part in Canada and Indonesia. He has developed
relationships with mining investors in the USA, Europe, SE Asia and
Canada. Scott will aggressively search for new exploration and mining
opportunities for Sarissa.
Scott remarks, "I am really looking forward to financing and exploring
the exploration opportunities presented in the current Sarissa
portfolio. Ben and the board have amassed a good foundation to build
upon; and I have some very specific ideas of what assets to add to the
existing portfolio."
SUN SPORTS AND ENTERTAINMENT (OTC: SSPE) "Up 66.67% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/SSPE.php
SUN is a Professional Sports & Entertainment Production Company. SUN is
a Licensed MMA Combat Sports Promoter and produces World Class MMA
Events. The properties of SUN Sports & Entertainment
(www.SUNorganization.com), Art of War LIVE (www.artofwarLIVE.com) USA
Men's National Team (www.teamUSAmma.com) UNDERGROUND Cage Fighting
(www.undergroundcagefighting.com), and International Fighters
Association (www.IFApro.com), are pending trademarks.
SSPE News:
November 9 - Sun Discusses Company Milestones and Provides Year End
Summary
SUN Sports & Entertainment Inc. (OTC: SSPE) announced a summary of
milestones achieved during its first year in the Mixed Martial Arts
(MMA) Industry.
During the past few years, the MMA industry has experienced explosive
worldwide growth, expanded to include live events, pay-per-view and
reality television shows. In the process, MMA has established itself as
a growth vehicle in the sports industry. As an example, the UFC's
September 8, 2007 title fight on Spike TV drew 4.7 million viewers,
making it the most watched mixed martial arts event ever in North
America. In 2006, an MMA Event broke the pay-per-view industry's
all-time single year revenue record surpassing WWE and Boxing.
SUN Chief Executive Officer CJ Comu stated, "SUN has worked diligently
on building our 'Art of War' brand as a premiere MMA property and
developing strong strategic alliances while examining the changes in
the landscape and preparing aggressive long-term strategies. We have
identified great future opportunities and developed a business model
unlike any other company in this industry, and have the potential to
produce a long term and successful enterprise."
A summary of the Company's accomplishments achieved during its first
year as an MMA Production and Entertainment Company are as follows."
1. The Company produced four premiere events in 2007 under its brand
"Art of War" in world-class arenas including the American Airlines
Center in Dallas, Texas.
2. The Company filmed and produced all its events on High Definition
Television and created a library of great fights, great fighters, and
great knockouts.
3. The Company developed strategic partnerships in the area of
Broadcast and Distribution, which include foreign and domestic rights
and DVD sales.
4. In September 2007, the Company produced its first LIVE Pay-Per-View
Event with iN Demand networks, the nations largest PPV Distributor.
5. In October 2007, the Company produced Art of War 4 for the world's
largest Hotel/Casino organization at the Harrah's Grand Tunica Resort
in Tunica, MS to a packed arena.
6. The Company established and operates the United States Men's
National Mixed Martial Arts Team (Team USA MMA).
7. The Company acquired the Sports Radio Event Network that provided
the first in stadium play-by-play broadcast for its Art of War 3 Event.
Sports Radio has provided its unique service to professional and
collegiate sporting events including the 2007 NFL Super Bowl.
8. The company retained the Investment Banking services of Titan
Securities Inc., a NASD Broker/Dealer and completed its first round of
financing.
9. The Company formed the UNDERGROUND Cage Fighting Division to provide
a mobile marketing Events Production for regional Arenas and Casinos
that wish to host an MMA Event with custom made cages, transport
carrier, truck, sound and lighting equipment.
10. The Company helped establish the International Fighters Association
(IFA) a non-profit company based in Luxemburg to promote the MMA
industry as well as rank, rate and sanction independent fights.
Brad Brooks, President of Titan Securities, issued the following
comment, "Management has laid a solid foundation for the future of SUN
over the next three years and beyond. The Company's strategy is a
combination of what it takes to be successful, profitable and build a
global brand in the world of MMA."
TRUE PRODUCT ID (OTCBB: TPDI) "Up 60.47% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/TPDI.php
True Product ID, Inc. produces integrators for anti-counterfeiting and
security surveillance applications, as well as provides integrated
tracking devices. The company's authentication solution is an
integrated management system based on synthetic taggant technology,
Synthetic DNA (S-DNA), in which specific taggants are formulated to tag
target objects for identification and authentication. Its products and
services include S-DNA, a marking process that involves the application
of a combination of inorganic elements, which enables to invisibly
attach a fingerprint to the product that can be applied to industrial
parts, apparel, consumer electronics, jewelry, CD-ROMs, sporting goods,
and currency; and handheld scanners/analyzers that are used to identify
S-DNA codes. The company also offers authentication services, which
include credited scans associated with the work order, additional scans
required, and management of inspectors by the company. True Product ID
delivers its solutions to governments, armed forces, and industry. The
company was founded in 2005. It was formerly known as ONTV, Inc. and
changed its name to True Product ID, Inc. in 2006. True Product ID is
based in Philadelphia, Pennsylvania.
TPDI News:
November 9 - True Product ID States Details Previously Reported in Its
Form 10-KSB Relating To Projected $1.3 Billion Revenue Gas Tank
Contract Signed With The Chinese Government Counterpart To U.S.
Consumer Product Safety Commission
True Product ID, Inc. (OTCBB: TPDI) stated the following details
previously reported in its Form 10-KSB filed October 2, 2007 relating
to the agreement which its Chinese joint venture company affiliate,
True Product ID Technology (Beijing) Limited ("TPID Beijing"), signed
on August 27, 2007 with the State General Administration for Quality
Supervision, Inspection and Quarantine of the People's Republic of
China ("AQSIQ") to develop a national safety/security system for
China's liquefied natural gas and other pressurized canisters and other
special equipment (Contract No. 0076180):
As reported in its press release on August 27, 2007, the Company,
through its Chinese joint venture affiliate, entered into a contract
with the National Quality Inspection Department of the State General
Administration for Quality Supervision, Inspection and Quarantine of
the People's Republic of China ("AQSIQ"), to develop a national
safety/security system for China's liquefied natural gas and other
pressurized canisters and other special equipment.
According to its website (www.aqsiq.gov.cn), AQSIQ is a ministerial
administrative organ directly under the State Council of the People's
Republic of China in charge of national quality, metrology, entry-exit
commodity inspection, entry-exit health quarantine, entry-exit animal
and plant quarantine, import-export food safety, certification and
accreditation, standardization, as well as administrative
law-enforcement. AQSIQ is considered the Chinese counterpart to the
United States Consumer Product Safety Commission. See The U.S. Consumer
Product Safety Commission-AQSIQ Joint Statement on Enhancing Consumer
Product Safety at www.cpsc.gov/cpscpub/prerel/prhtml07/07305.pdf.
The AQSIQ Contract follows an AQSIQ Circular to every quality and
technical supervision bureau in all provinces, autonomous regions and
municipalities under the control of the Chinese Central Government. The
AQSIQ Circular sets out a 5-year AQSIQ National Security/Safety Plan to
protect against the illegal production, circulation, and use of certain
"special equipment" (the "Plan"). AQSIQ's mission in the Circular is,
among other things, to protect public safety from safety accidents and
other risks caused by counterfeit and substandard "special equipment."
Among the "special equipment" referenced in the AQSIQ Circular are
liquefied gas tanks, oxygen tanks, and other pressurized containers and
pipes, elevators, lift machinery; and equipment at large recreational
facilities and automobile plants.
In its Circular, AQSIQ has explicitly designated True Product's
technology and Chinese joint venture company affiliate as the exclusive
technology and technology provider to help AQSIQ develop, implement and
administer its National Security/Safety Plan. Under the AQSIQ Circular,
TPID Beijing is to help AQSIQ develop national special equipment
security identification standards (the "standards"), a special
equipment identification information security management system (the
"management system"), and a special equipment security/safety logo (the
"logo").
As a result of the Circular, AQSIQ has entered into a Project
Cooperation Agreement with the Company's Chinese joint venture company
affiliate (Contract No. 0076180). ASQIQ subsequently entered into
supplementary provisions to the Project Cooperation Agreement in
connection with the initial phase of AQSIQ's National Security/Safety
Plans relating to liquefied natural gas containers (the "LNG Contract").
Under the LNG Contract, TPID Beijing is to provide and apply a security
logo to all LNG containers in China. According to Chinese government
statistics, the total number of LNG containers in China is currently
over 130 million and is expected to increase in quantity by 10% every
year. Under the LNG Contract, TPID Beijing is to receive a fixed
taggant price per LNG container. The specific taggant price per LNG
container is not being disclosed due to its proprietary nature.
Under the LNG Contract, TPID Beijing is to provide 50,000 units of one
of its highly proprietary scanners and 15,000 units of another of its
highly proprietary scanners to approximately 20,000 LNG gas stations,
30,000 special equipment manufacturers, and 40,000 "platforms" in
China. Under the LNG Contract, TPID Beijing is to receive a fixed price
per scanner, with a different fixed price for each type of scanner. The
specific price per scanner is not being disclosed due to its
proprietary nature.
Finally, under the LNG Contract, TPID Beijing is to establish a
security management information system for 50,000 enterprises. Under
the LNG Contract, TPID Beijing is to receive a fixed price per
enterprise. The specific price per enterprise is not being disclosed
due to its proprietary nature. According to AQSIQ, among such
enterprises and platforms include 5,016 enterprises in charge of
manufacturing LNG containers and other pressurized containers, 14,995
enterprises in charge of charging LNG containers, 8,747 enterprises in
charge of manufacturing, installing, reequipping and repairing boilers,
and approximately 1,823 institutes in the Chinese state quality
inspection system which check LNG containers.
Since AQSIQ's Circular, Project Cooperation Agreement and LNG Contract,
TPID Beijing and AQSIQ have met and continue to meet on a routine basis
to develop, coordinate, and implement AQSIQ's National Safety/Security
Plan and in particular as the Plan initially pertains to LNG
containers. The initial revenue projections set forth by AQSIQ in the
LNG Contract (as corrected to fix a mathematical miscalculation in the
original Chinese version of the LNG Contract) to mark the 130 million
LNG containers (at a fixed price per container), to provide the 50,000
and 15,000 proprietary scanners (at fixed prices per scanner), and to
develop a security management information system for 50,000 enterprises
(at a fixed price per enterprise) total 2,720,000,000 Chinese Yuan,
which equates to over US$362,000,000.
BIMINI CAPITAL MANAGEMENT (OTC: BMNM) "Up 59.09% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/BMNM.php
Bimini Capital Management, Inc. is a REIT that invests primarily in,
but is not limited to, residential mortgage-related securities issued
by the Federal National Mortgage Association (Fannie Mae), the Federal
Home Loan Mortgage Corporation (Freddie Mac) and the Government
National Mortgage Association (Ginnie Mae). Its objective is to earn
returns on the spread between the yield on its assets and its costs,
including the interest expense on the funds it borrows.
BMNM News:
November 8 - Bimini Capital Management Reports Third Quarter 2007
Results
Exit from Mortgage Origination Business Drives Substantial Improvement
in Sequential and Year-Over-Year Quarterly Results
88 bps Net Interest Margin on MBS Portfolio at Quarter End
MBS Portfolio Remains 100% Invested in Agency MBS Bimini Capital
Management, Inc. (OTC: BMNM) ("Bimini Capital" or the "Company"), a
real estate investment trust ("REIT"), today announced its third
quarter results of operations and Book Value Per Share at September 30,
2007. The Company today also announced that it has filed its Quarterly
Report on Form 10-Q for the quarterly period ended September 30, 2007,
with the Securities and Exchange Commission.
Book Value Per Share
The Company's Book Value Per Share at September 30, 2007, was $1.00
compared with $1.17 as of June 30, 2007. Book Value Per Share is
regularly used as a valuation metric by various equity analysts that
follow the Company and may be deemed a non-GAAP financial measure
pursuant to Regulation G. The Company computes Book Value Per Share by
dividing total stockholders' equity by the total number of shares
outstanding of the Company's Class A Common Stock. At September 30,
2007, the Company's consolidated stockholders' equity was $24.8 million.
Details of Third Quarter 2007 Results of Operations
The Company today reported a consolidated net loss of $4.7 million, or
$(0.19) per Class A Common Share, for the three month period ended
September 30, 2007, compared with a consolidated net loss of $162.5
million, or $(6.53) per Class A Common Share, for the three month
period ended June 30, 2007, and a consolidated net loss of $6.3
million, or $(0.25) per Class A Common Share, for the three month
period ended September 30, 2006. Included in the Company's third
quarter consolidated results was a loss from continuing operations
before minority interest of $3.2 million and a loss from discontinued
operations, net of tax, of $1.5 million.
The Company's third quarter loss from continuing operations was
composed of net interest income of $1.4 million, a realized loss on the
sale of mortgage-backed securities ("MBS") of $1.1 million, a net
decrease in the fair value of MBS of $1.4 million and $2.1 million in
operating, general and administrative expenses, which expenses include
$0.7 million in amortization expense associated with phantom shares
previously granted as compensation and $0.3 million in audit, legal and
other professional fees. During the third quarter, the Company sold MBS
with a market value at the time of sale of $0.9 billion, resulting in
the realized loss of $1.1 million on the sale of MBS. The Company's net
interest margin on its MBS portfolio increased to a positive 88 basis
points as of September 30, 2007.
REIT Taxable Income
For the three month period ended September 30, 2007, the Company
estimates its REIT taxable income at $1.5 million, inclusive of $2.8
million of interest income on intercompany debt. For the nine month
period ended September 30, 2007, the Company estimates its REIT taxable
income at negative $5.1 million. Depending on the Company's fourth
quarter performance, the Company may have negative REIT taxable income
for the year and all dividends declared year-to-date may be treated as
a return of capital for U.S. federal income tax purposes.
REIT taxable income is a term that describes the Company's operating
results calculated in accordance with rules and regulations promulgated
pursuant to the Internal Revenue Code. The Company's REIT taxable
income is computed differently from net income as computed in
accordance with generally accepted accounting principles ("GAAP net
income"), as reported in the Company's consolidated financial
statements. Depending on the number and size of the various items or
transactions being accounted for differently, the differences between
REIT taxable income and GAAP net income can be substantial and each
item can affect several reporting periods. Generally, these items are
timing or temporary differences between years; for example, an item
that may be a deduction for GAAP net income in the current year may not
be a deduction for REIT taxable income until a later year.
In order to maintain its qualification as a REIT, the Company is
required (among other provisions) to annually distribute dividends to
its stockholders in an amount at least equal to, generally, 90% of the
Company's REIT taxable income. Additionally, as a REIT, the Company may
be subject to a federal excise tax if it distributes less than 85% of
its REIT taxable income by the end of the calendar year. Accordingly,
the Company's dividends are largely based on REIT taxable income, as
determined for federal income tax purposes as opposed to its net income
computed in accordance with GAAP (as reported in the Company's
consolidated financial statements), and are paid if, when and as
declared by the Company's Board of Directors.
Management Commentary
Commenting on the Company's third quarter results, Jeffrey J. Zimmer,
Chairman, President and Chief Executive Officer, said, "Following the
close of the second quarter, we stated that we were optimistic about
our prospects going forward, and today we reported quarterly results
reflecting a dramatic improvement on both a sequential and
year-over-year basis. Although we recognize that much work remains to
be done to restore our profitability, we are pleased to report that our
net interest margin on our MBS portfolio increased to 88 basis points
at quarter end. As of September 30, 2007, our MBS portfolio consisted
of $1.3 billion of agency MBS at fair value and had a weighted average
yield on assets of 6.11% and a net weighted average borrowing cost of
5.23%."
Mr. Zimmer continued, "We continue to be optimistic about our future
for several reasons. First, as has always been the case, our MBS
portfolio continues to be 100% invested in liquid Fannie Mae, Freddie
Mac and Ginnie Mae agency MBS, having little to no credit risk
exposure. Second, because we own various interest-rate-sensitive
assets, we stand to benefit further from any additional monetary policy
easing by the Federal Reserve. Third, we have monetized substantially
all of the value associated with our mortgage servicing rights
portfolio and mortgage loan inventory, and all liabilities under the
financing facilities that were secured by these assets have been
extinguished. Fourth, we continue to have over $100 million in trust
preferred debt capital that does not mature until 2035. Finally, as
illustrated by our third quarter results, we expect to no longer incur
the substantial operating losses experienced earlier in the year and
most of last year that were attributable to the discontinued mortgage
loan origination business. In sum, as I stated last quarter, we
continue to believe that our future is bright."
The Company has scheduled an online Web simulcast and conference call
to discuss these announcements that will begin at 8:45 a.m. E.T.
tomorrow, Friday, November 9, 2007. An online replay will be available
approximately two hours following the conclusion of the live broadcast
and will continue for four days. A link to these events will be
available at the Company's website www.biminicapital.com. Those persons
without Internet access may listen to the live call by dialing (800)
218-8862 or (303) 262-2193, confirmation code: 11100063.
FRANKLIN MINING (OTC: FMNJ) "Up 30.77% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/FMNJ.php
Franklin Mining, Inc., an exploration stage company, engages in the
exploration, development, and mining of precious and nonferrous metals.
It primarily focuses on gold, silver, tin, lead, copper, and zinc
metals. The company has a joint venture contract with COMIBOL to
develop and mine a section of the Cerro Rico Mine, known as the
Palivairi project. It also owns 51% interest in the Pulacayo tailings
project. In addition, Franklin Mining holds interests in the Franklin
Mines located in Clear Creek County, Colorado; the Rio Grande GTL
project located in Bolivia; and the Tierra Del Fuego gas
industrialization project in Argentina. The company was founded in
1864. It was formerly known was WCM Capital, Inc. and changed its name
to Franklin Mining, Inc. in 2003. Franklin Mining is based in Las
Vegas, Nevada with additional offices in La Paz and Santa Cruz, Bolivia.
FMNJ News:
November 9 - Franklin Clarifies Escala Mine Production Processes
Franklin Mining, Inc. (OTC: FMNJ) is announcing that CEO and Chairman
William A. Petty has confirmed work procedures to be followed as the
Escala Mine is re-opened for production. Mr. Petty's comments are
contained in a Letter to Shareholders scheduled for release later.
Franklin's initial plan for the Escala is to re-establish the base camp
and work the existing tunnels and shafts. Expanding existing tunnels
and shafts and developing new sites will begin as soon as all existing
sites are firmly re-established.
Franklin's engineers and managers have estimated that November's
production will reach 260 tons and anticipate significant increases in
daily production by early-December, with a correspondingly greater
total monthly production to follow.
Production from the Escala during November, continuing through December
and January, will be processed by a plant located approximately 70 Km
away. Recovered minerals will be inventoried and sold into the market
in economically viable quantities - probably twice per month. Minerals
recovered in smaller quantities will be held in inventory.
Mr. Petty has also confirmed the he has continued exploring options for
erecting a processing plant on-site at the Escala and hopes to announce
that plan by the end of November.
About the Escala Project: Comprising three separate mining
applications, COMIBOL's Escala Mine concession totals 2,000 hectares
located in the Sud Lipez Province, which is near Bolivia's border with
Argentina. Franklin Mining, Bolivia S.A. has been awarded a contract to
mine 500 hectares within the original Escala concession. Escala II and
Escala III are the other two mining applications currently assigned to
another mining company.
The original Escala Mine was established during the Spanish colonial
period and has, intermittently, been mined for lead, zinc, gold and
silver.
In 2007, Franklin Mining, Bolivia S.A. negotiated an agreement with
COMIBOL to resume mining operations within the area of the original
concession. It is this original concession which contains all
utilities, offices, shops and housing.
Corporacion Minera de Bolivia, often known as COMIBOL, is the National
Mining Company of Bolivia.
TRANS WORLD ENTERTAINMENT (NASD: TWMC) "Up 27.84% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/TWMC.php
Trans World Entertainment Corporation, through its subsidiaries,
operates as a specialty retailer of entertainment software, including
music, home video, and video games and related products in the United
States. It operates a chain of mall-based retail entertainment stores
under the f.y.e., Suncoast, and Saturday Matinee brands, as well as
freestanding stores under the f.y.e., Sam Goody, Coconuts Music and
Movies, Strawberries, Wherehouse Music and Movies, CD World, Spec's
Music, and Second Spin brands. The company also operates five retail
Websites, including www.fye.com, www.wherehouse.com,
www.secondspin.com, www.samgoody.com, and www.suncoast.com. As of
February 3, 2007, Trans World Entertainment operated 992 retail stores
in the United States, the District of Columbia, the U.S. Virgin
Islands, and Puerto Rico. The company was founded in 1972 and is
headquartered in Albany, New York.
TWMC News:
November 9 - Trans World Entertainment Corporation Reports Receipt of
Proposal from Robert J. Higgins
Trans World Entertainment Corporation ("Trans World Entertainment" or
"the Company") (NASD: TWMC) announced that it has received a
non-binding proposal from its largest shareholder and Chairman and
Chief Executive Officer, Robert J. Higgins, to acquire outstanding
shares of the Company that Mr. Higgins and his related persons and
entities do not already own. At this time, Mr. Higgins and his related
persons and entities hold approximately 40% of the issued and
outstanding shares of the Company.
Mr. Higgins's preliminary proposal contemplates an offer to pay the
Company's shareholders $5.00 per share in cash. The proposal states
further that Mr. Higgins has contacted another shareholder, Bryant
Riley, to gauge his interest in directly or indirectly participating in
the transaction. The proposal is subject to Mr. Higgins' being able to
arrange financing and the Board of Directors' consent to Mr. Higgins
proceeding with further discussions with Mr. Riley. Mr. Higgins has
also made clear that this proposal and any successor proposal will be
subject to the approval of the Board of Directors and the negotiation
and execution of definitive documentation with the Company.
This preliminary proposal was made to, and with the permission of, a
Special Committee of non-management members of the Board of Directors
formed in connection with the Company's ongoing consideration of
strategic alternatives to enhance shareholder value. The Special
Committee has not yet reached a view on the advisability of this
proposal.
The Special Committee will review and evaluate Mr. Higgins's proposal
and his request that the Board of Directors consent to Mr. Riley's
participation in the proposal. The Special Committee expects that, in
consultation with its advisors, it will be evaluating information
relevant to this proposal and may become engaged in negotiations and
discussions with Mr. Higgins. Trans World Entertainment does not intend
to comment further on these matters until the Special Committee and the
Board of Directors have completed all negotiations and discussions with
Mr. Higgins relevant to this and any related or successor proposals
that Mr. Higgins may make. Against this background, shareholders are
urged to take into account that there is no assurance that an agreement
between Mr. Higgins and the Board of Directors will be achieved and
there may be additional disclosure forthcoming in the future that is
relevant to these matters.
The Special Committee has previously retained Goldman, Sachs & Co. as
its financial advisor and Cleary, Gottlieb, Steen & Hamilton LLP as its
legal counsel.
Trans World Entertainment is a leading specialty retailer of
entertainment software, including music, home video and video games and
related products. The Company operates over 950 retail stores in the
United States, the District of Columbia, the U.S. Virgin Islands, and
Puerto Rico, primarily under the names f.y.e. for your entertainment
and Suncoast and on the web at www.fye.com, www.wherehouse.com,
www.secondspin.com, www.samgoody.com and www.suncoast.com.
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speculative nature of the companies profiled. OTCPicks.com makes no
recommendation that the securities of the companies profiled should be
purchased, sold or held by individuals or entities that learn of the
profiled companies through OTCPicks.com. OTCPicks.com owners may or may
not hold positions in the companies that are profiled.
The information contained herein contains forward-looking information
within the meaning of Section 27A of the Securities Act of 1993 and
Section 21E of the Securities Exchange Act of 1934 including statements
regarding expected continual growth of the company and the value of its
securities. In accordance with the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 it is hereby noted
that statements contained herein that look forward in time which
include everything other than historical information, involve risk and
uncertainties that may affect the company's actual results of
operation. Factors that could cause actual results to differ include
the size and growth of the market for the company's products, the
company's ability to fund its capital requirements in the near term and
in the long term, pricing pressures, unforeseen and/or unexpected
circumstances in happenings, pricing pressures, etc. Investing in
securities is speculative and carries risk. Past performance does not
guarantee future results.
Third Party Web Sites and Information:
OTCPicks.com and newsletter may provide hyperlinks to third party
websites or access to third party content. OTCPicks.com does not
control, endorse, or guarantee content found in such sites. You agree
that OTCPicks.com is not responsible for any content, associated links,
resources, or services associated with a third party site. You further
agree that OTCPicks.com shall not be liable for any loss or damage of
any sort associated with your use of third party content. Links and
access to these sites are provided for your convenience only.
CONTACT: Brian Dean, Publisher, OTCPicks.com
Tel: +1 972 546 3740
e-mail: publisher@otcpicks.com
((M2 Communications Ltd disclaims all liability for information
provided within M2 PressWIRE. Data supplied by named party/parties.
Further information on M2 PressWIRE can be obtained at
http://www.presswire.net on the world wide web. Inquiries to
info@m2.com)).
Copyright 2007 M2 Communications Ltd.
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