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OTCPicks.com: OTCPicks.com Daily Market Movers Digest Midday Report for Thursday, March 26th CAAH, HYTM, UVSE, WYY, CTIC, MYNG(M2 PressWIRE Via Acquire Media NewsEdge) RDATE:26032009 Our Stocks to Watch today include China America Holdings Inc. (OTCBB: CAAH), Hythiam Inc. (Nasdaq: HYTM), Universal Energy Corp. (OTCBB: UVSE), WidePoint Corp. (AMEX: WYY), Cell Therapeutics Inc. (Nasdaq: CTIC) and Golden Eagle International Inc. (OTCBB: MYNG). Visit http://www.otcpicks.com/microcap.htm to register for our Daily Market Mover's Digest Newsletter and Email Stock Watch Alerts. CHINA AMERICA HOLDINGS INCORPORATED (OTCBB: CAAH) "Up 50.00% in morning trading" Detailed Quote: http://www.otcpicks.com/quotes/CAAH.php Company Profile: http://www.otcpicks.com/china-america-holdings/china-america-holdings.ht m Blugrass Energy, Inc. is an oil and gas development and exploration company based in the United States that is traded on the Over the Counter Bulletin Board under the Symbol BLUG. The goal of BLUG is to grow through internally generated and developed prospects, participation with industry partners in oil and gas exploration and in targeted joint ventures. CAAH News: March 25 - China America Holdings, Inc. Aohong Subsidiary Renews Agreement with FAW-Mazda Motor Sales Co. Ltd. to Supply Automobile Refrigerant Product for 2009 China America Holdings, Inc. (OTCBB: CAAH), a holding company operating in China, announced that its 56% owned China based subsidiary Shanghai AoHong has renewed its agreement with FAW-Mazda Motor Sales Co. Ltd., a joint venture between Mazda and China FAW Group Corporation, to supply the company with refrigerant G134A Product for automobile air conditioning systems. This agreement generated sales of approximately $345,000 for the calendar year of 2008 and is the second renewal for 2009 for Aohong within the FAW family of companies. Management will look to build on this agreement and make further inroads with FAW to supply its products. China FAW Group Corporation is a pioneer in China's auto industry and the country's leading auto maker. FAW manufactures light, medium, and heavy-duty trucks, cars, buses, and mini-vehicles in China. China FAW produces more than seven million vehicles per year. FAW's manufacturing facilities are located throughout China. China FAW has joint venture operations with numerous automakers including Volkswagen, Mazda, and Toyota offering additional sales opportunities for Aohong. Speaking on behalf of the company, Shaoyin Wang, CEO of China America Holdings, commented, "We are extremely pleased to have renewed our agreement with FAW-Mazda. We believe this G134A supply contract again confirms our growing relationships with China FAW Group, the largest automobile manufacturer in China. At the same time China America is working diligently to secure additional purchase orders with sizeable manufacturers as the year goes on. We are confident that our bonds with China-FAW Group demonstrate our ability to retain repeat customers, and contracts like this will certainly help ensure our business prospects for fiscal 2009 and going forward." HYTHIAM INCORPORATED (NASDAQ: HYTM) "Up 66.67% in morning trading" Detailed Quote: http://www.otcpicks.com/quotes/HYTM.php Hythiam, Inc. provides through its CatasysTM offering, behavioral health management services to health plans, employers and unions through a network of licensed and company managed healthcare providers. The Catasys substance dependence program is built around medical and psychosocial interventions, including the patented PROMETA Treatment Program for alcoholism and stimulant dependence. The PROMETA Treatment Program, which integrates behavioral, nutritional, and medical components, is also available on a private-pay basis through licensed treatment providers and company managed treatment centers. Hythiam does not practice medicine or manufacture, distribute, or sell any medications and has no relationship with any manufacturers or distributors of medications used in the PROMETA Treatment Program. HYTM News: March 26 - Hythiam Announces Results of Two Double-Blind, Placebo-Controlled Studies on Impact of PROMETA Treatment Program for Alcohol Dependence Statistical Significance Achieved for Key Measures in Each Study Hythiam, Inc. (Nasdaq: HYTM) announced the final results of two double-blind, placebo-controlled studies that help complete the Company's data set on the impact of the PROMETA Treatment Program (PROMETA) on alcohol dependent subjects. The first set of results includes data from the full 14-week double-blind, placebo-controlled study conducted by leading alcoholism expert Raymond Anton, M.D., of Medical University of South Carolina. Initial 6-week topline results were released by Dr. Anton at the RSA conference held in Washington, D.C. in June 2008. At week 14, the data demonstrated statistical significance for key endpoints for subjects with greater symptoms of withdrawal as measured by higher Clinical Institute Withdrawal Assessment (CIWA) scores. The higher-CIWA PROMETA subjects maintained statistical significance for endpoints that included percent days abstinent and craving, when compared to placebo subjects. The second set of results includes data from an 8-week, double-blind, placebo-controlled study on alcohol dependent subjects, all with low CIWA scores, that was recently completed by Joseph Volpicelli, M.D., Ph.D. at the Institute of Addiction Medicine. Results from this study demonstrated that, for lower-CIWA subjects with a clinical history of alcohol withdrawal symptoms, the PROMETA group experienced statistically significant decreases in alcohol craving and alcohol consumption, as compared to placebo. In addition, across the entire intent-to-treat sample, differences favored the PROMETA group. Given the industry pressure to reduce health care costs and because of rising alcoholism rates due to the current economic environment, health plans are seeking cost effective solutions to address these issues, and recent results from Dr. Anton's and Dr. Volpicelli's data sets should help drive adoption of the Company's CatasysTM Offering. The study data from Dr. Anton's higher-CIWA PROMETA subjects and Dr. Volpicelli's lower-CIWA PROMETA subjects with a history of alcohol withdrawal, provides clinicians with a guide as to the most effective time to use PROMETA on alcohol dependent patients. Rapid reduction in craving may lead to improved treatment engagement and a higher retention rate because craving, particularly during the initial treatment period, has been reported in the literature to be predictive of relapse. In one study in particular, data showed that craving predicts drinking during treatment, and even more accurately than prior drinking habits. In addition, previously conducted research demonstrated that PROMETA significantly reduced drinking in subjects experiencing higher levels of alcohol withdrawal symptoms. The final results from both studies are significant for the Company's Catasys managed care offering, which is aimed at the more costly patients who are frequent high-utilizers of health plan services. The studies demonstrate that pharmacologic intervention has a significant impact on those who have withdrawal symptoms or a history of withdrawal symptoms, indicating they may benefit even further from Catasys, which is an integrated substance dependence program that combines medical and psychosocial components in an outpatient setting, and includes long term coaching aimed at achieving treatment compliance and preventing relapse for substance dependent patients. "We are pleased that Dr. Anton demonstrated the durability of the results experienced by the higher-CIWA group at the conclusion of the 14 week study," said Hythiam's Senior Vice President of Scientific Affairs, Dr. Gary Ingenito. "Although we didn't receive clarity on the lower-CIWA group in Dr. Anton's study, Dr. Volpicelli's study was much larger, involving 117 lower-CIWA subjects, and it demonstrated that the PROMETA group had better clinical outcomes and achieved statistical significance during the active treatment period among subjects with a history of alcohol withdrawal symptoms. The rapid reduction in craving for the lower-CIWA PROMETA subjects in Dr. Volpicelli's study and the maintained reduction for the higher-CIWA PROMETA subjects in Dr. Anton's study suggest that PROMETA may be useful in reducing a barrier to patient engagement in an ongoing psychosocial program, and improve the chances of remaining in treatment. The results from the data of both studies are consistent with pre-clinical research and data from other PROMETA studies. Together they provide significant depth and clarity to guide clinicians in the most effective time to use PROMETA in alcohol dependent patients. We now have a more complete clinical picture of the impact of PROMETA on alcohol dependent patients, and look forward to publication of final results from both studies in peer-reviewed journals." Results from the end of the 8-week follow-up period of Dr. Anton's 14-week study maintained significance for key endpoints. At week 14, PROMETA subjects with greater symptoms of withdrawal as measured by higher-CIWA scores, achieved statistical significance in percent days abstinent when compared to those who received placebo (p=.05). CIWA scores are based on a 67-point scale, and are a point-in-time assessment of withdrawal symptoms. The scores are typically used as a measure to guide the appropriate level of care and type of treatment. Additional week 14 results also demonstrated that these higher-CIWA subjects maintained statistically significant improvement in other measures that included craving and the obsessive compulsive drinking scale (p=.03). The 14-week study was designed to evaluate the impact of PROMETA on percent days abstinent, other use measures and cravings. Alcoholic subjects were stratified into 2 groups upon enrollment: those with higher alcohol withdrawal, as defined by their CIWA scores, and those with lower-CIWA scores. Subjects were not required to maintain prior abstinence. For the lower-CIWA group in Dr. Anton's study, PROMETA had no effect or a lesser response compared to placebo subjects, who fared better in the study. Additional analysis of these results across the 14-week study, as well as final review of other study procedures, including functional MRI and acoustic startle, provided no additional clarity on the lower-CIWA outcomes. However, Dr. Volpicelli conducted a larger, 117-subject, 8-week, double-blind, placebo-controlled study on alcohol dependent subjects with low CIWA scores, utilizing 3 infusions versus the 2 used in Dr. Anton's study. Dr. Volpicelli's study evaluated efficacy and tolerability of the medical intervention of the PROMETA Treatment Program in alcohol dependent subjects with lower CIWA scores following alcohol detoxification. This second set of results from Dr. Volpicelli demonstrated that for lower-CIWA subjects with a clinical history of alcohol withdrawal symptoms, the PROMETA group experienced statistically significant decreases in alcohol craving and alcohol consumption, as compared to placebo. Across the entire intent-to-treat sample, differences favored the PROMETA group. The group of subjects with a reported history of previous alcohol withdrawal symptoms composed two-thirds of the entire study sample. For this group of subjects, percent drinking days and alcohol craving showed statistically significant group differences during the study's active treatment phase. Dr. Volpicelli's study is the first to extend these results to subjects who are not in withdrawal at the time of randomization, but have a history of withdrawal symptoms. Subjects were included in Dr. Volpicelli's study following successful completion of alcohol detoxification and had abstained from alcohol for at least three days, and exhibited few withdrawal symptoms. The severity of withdrawal was assessed by the CIWA scale. The study enrolled 117 male and female subjects into the 8-week trial. The first 4 weeks comprised the active treatment phase of the study and the subsequent 4 weeks contained the follow-up phase. A total of 3 infusions of flumazenil were given during the first week of treatment along with 38 days of oral gabapentin. In addition, the Institute of Addiction Medicine used its BRENDA program for psychosocial support, which was intended to enhance motivation and medication compliance. The study's overall retention rate was 79%. Alcohol craving as measured by the Penn Alcohol Craving Scale was significantly reduced in the PROMETA group, by 39% from pre-infusion status to end of the active treatment phase compared to a 14% decrease in the placebo group (p=0.02). These differences were no longer statistically significant by the end of the follow-up period, but the PROMETA group remained numerically superior to placebo in decreasing cravings with a reduction of 37% compared to 32% for placebo. The results were more dramatic for the group of subjects with a history of alcohol withdrawal with a 45% reduction for the PROMETA group, compared to a 30% reduction for placebo from pre-infusion status to the end of the active treatment phase (p=.02). Overall, PROMETA decreased the craving score more rapidly than placebo, and only over time did the placebo group slowly decline. The percent drinking days for all study participants was not statistically different between the groups, although the PROMETA group was numerically better than placebo in reducing the percent of drinking days from baseline throughout the 8-week study. At the end of the active treatment phase, the PROMETA group had reduced percent of drinking days by 67% versus placebo at 56%; during the subsequent follow-up period, PROMETA reduced percent of drinking days by 63% versus placebo at 54%; and overall the PROMETA group had 65% fewer drinking days compared to 55% with placebo. Similarly, when examining time to first drink and time to first heavy drinking day, the PROMETA group took more time to reach the event than the placebo group, but this difference was not statistically significant. Over the 8 week study, 31% of the PROMETA group was abstinent versus 21% in the placebo group. For the subjects who reported a history of having previously experienced alcohol withdrawal symptoms, group differences emerged during the active treatment phase. An analysis of this subgroup revealed a statistically significant difference in percent drinking days at end of the active treatment phase of the study, favoring the PROMETA group; 12% drinking days for PROMETA versus 22% drinking days for placebo (p=0.02). This represents a 46% reduction in drinking days for the PROMETA group compared to placebo. The statistical significance abated during the follow-up phase of the study. Across the entire 8 weeks, the PROMETA group was numerically superior and had fewer percent drinking days (16%) versus placebo (21%). These results suggest that individuals who have previously experienced withdrawal symptoms may experience a greater benefit from PROMETA. ABOUT THE PROMETA TREATMENT PROGRAM Hythiam's PROMETA Treatment Program is designed for use by health care providers seeking to treat individuals diagnosed with dependencies to alcohol, cocaine or methamphetamine, as well as combinations of these drugs. The PROMETA Treatment Program includes nutritional supplements, FDA-approved oral and IV medications used off-label and separately administered in a unique dosing algorithm, as well as psychosocial or other recovery-oriented therapy chosen by the patient and his or her treatment provider. As a result, PROMETA represents an innovative approach to managing alcohol, cocaine, or methamphetamine dependence that is designed to address physiological, nutritional, and psychosocial aspects of the disease, and is thereby intended to offer patients an opportunity to achieve sustained recovery. UNIVERSAL ENERGY CORPORATION (OTCBB: UVSE) "Up 100.00% in morning trading" Detailed Quote: http://www.otcpicks.com/quotes/UVSE.php Universal Energy Corp., an independent energy company, engages in the acquisition and development of crude oil and natural gas leases in the United States and Canada. As of December 31, 2007, it had working interest in approximately 7,095 acres of land in Louisiana and Texas, as well as in Alberta, Canada. The company, formerly Universal Tanning Ventures, Inc., was founded in 2002 and is based in Lake Mary, Florida. UVSE News: March 25 - Universal Energy Corp. Launches Aggressive 2009 Acquisition Plan Universal Energy Corp. (OTCBB: UVSE), an emerging U.S. oil and gas exploration and production company, announced today the launch of its acquisition plan for 2009. "The decline in commodity prices over the past few months has brought about opportunities like I've never seen before," commented Billy Raley, Chief Executive Officer of Universal Energy Corp. Raley continued, "We fully intend to acquire both producing properties and high impact assets over the next few months to continue building our portfolio along with providing value opportunity for our stockholders." Universal Energy Corp. is currently in discussions regarding the acquisition of producing and exploration assets that will enhance its growth potential and add stockholder value. These assets would be consistent with current properties along with providing the company with additional drilling opportunities. Management evaluates opportunities on a case-by-case basis and focuses on assets in, or close proximity, to established fields which provide the opportunity to add to the Company's reserves and exploration portfolio. WIDEPOINT CORPORATION (AMEX: WYY) "Up 34.29% in morning trading" Detailed Quote: http://www.otcpicks.com/quotes/WYY.php WidePoint is a leading provider of advanced information technology products and services including identity management and information assurance and protection services, forensic informatics and wireless technology services. WidePoint has several wholly owned subsidiaries holding major contracts, Operational Research Consultants, Inc. (ORC), iSYS, LLC, Protexx and WidePoint IL. WidePoint enables organizations to deploy fully compliant IT services in accordance with government-mandated regulations and advanced system requirements. WYY News: March 25 - WidePoint Announces 2008 Year End Conference Call WidePoint Corporation (AMEX: WYY), a leading provider of advanced information technology, identity assurance and protection and mobile telecom management services (MTEM), announced that it will release its 2008 year-end financial results on Tuesday, March 31. WidePoint will hold its 2008 year-end conference call the next day, Wednesday, April 1, 2009 with CEO Steve Komar, CFO Jim McCubbin and Ronald Oxley - EVP, Sales, Marketing and Planning at 4:30 p.m. ET. The call will cover the company's year-end and fourth quarter results. To participate, call 1-800-762-8779 any time after 4:20 p.m. ET on April 1, 2009. International callers should dial 1-480-248-5081. At any time during the conference, if callers should experience any difficulty or require operator assistance, they can press the star followed by the zero button. This will call an operator to the line. Both an MP3 file and a PDF transcript of the call may be downloaded after the call at http://hawkassociates.com. CELL THERAPEUTICS INCORPORATED (NASDAQ: CTIC) "Up 74.87% in morning trading" Detailed Quote: http://www.otcpicks.com/quotes/CTIC.php Headquartered in Seattle, CTI is a biopharmaceutical company committed to developing an integrated portfolio of oncology products aimed at making cancer more treatable. For additional information, visit www.celltherapeutics.com. CTIC News: March 25 - Cell Therapeutics, Inc. Reports Outcome of Special Meeting of Shareholders Cell Therapeutics, Inc. (Nasdaq: CTIC) (MTA: CTIC) (CTI) announced the results from its Special Meeting of Shareholders held on Tuesday, March 24, 2009. At the meeting, shareholders approved the proposal to increase the number of shares of authorized stock (including an increase in the number of shares of authorized common stock), the proposal to increase the number of shares available for issuance under its 2007 Equity Incentive Plan and the proposal to increase the number of shares available for issuance under its 2007 Employee Purchase Plan. The proposal to allow the Board of Directors to implement a reverse split if and when the Board deems such action appropriate was not approved by the shareholders. "We appreciate the support of our shareholders as it is important both from an operational and a strategic perspective as we move our products and programs toward approval," said James A. Bianco, M.D., CEO of CTI. "With excellent phase III data for pixantrone for aggressive relapsed non-Hodgkin's lymphoma we plan to complete the New Drug Application (NDA) submission in the second quarter of 2009 and we believe that this product would truly make a significant impact on this difficult to treat patient population. While we now have approval for additional authorized shares, we intend to continue to pursue product partnerships to generate operating capital." GOLDEN EAGLE INTERNATIONAL (OTCBB: MYNG) "Up 15.00% in morning trading" Detailed Quote: http://www.otcpicks.com/quotes/MYNG.php Golden Eagle International, Inc. is a gold and copper exploration, mining and milling company headquartered in Salt Lake City, Utah; with offices in Elko, Nevada and Santa Cruz, Bolivia. The Company's most recent efforts have centered on its Agreement with Queenstake Resources USA, Inc. for the maintenance and ongoing regulatory compliance of the Jerritt Canyon 4,000 tpd CIL gold mill. In addition, Golden Eagle is working to maximize the potential of its Gold Bar 4,000 tpd CIP gold mill located in Eureka, Nevada through a joint venture, toll refining arrangement or potential merger. The Company has temporarily suspended operations at its C Zone gold mine and mill within its 136,500 acres (213 square miles) in eastern Bolivia's Precambrian Shield. Golden Eagle has also temporarily suspended its continuing development of its Buen Futuro A Zone gold and copper project in eastern Bolivia. MYNG News: March 25 - Golden Eagle Reports Jerritt Canyon Gold Mill Authorized to Restart Operations Golden Eagle International, Inc. (OTCBB: MYNG) announced that Jerritt Canyon mine has completed a series of environmental-compliance requirements and that the Nevada Division of Environmental Protection (NDEP) has made a determination authorizing the restart of the mine's milling operations. The Jerritt Canyon mine is owned by Queenstake Resources USA, Inc. (Queenstake), a wholly-owned subsidiary of Yukon-Nevada Gold Corp. Queenstake is a major gold producer in northern Elko County, Nevada. "Queenstake has met all requirements for start up, but there are requirements to continue operation and we'll be working with them to meet those in the near future," said NDEP Administrator Leo Drozdoff. Queenstake, together with its contract mill operator, Golden Eagle International, Inc. (Golden Eagle), has worked with the NDEP continuously during the past six months to resolve air and water issues to a level that will allow Queenstake to begin milling. The restart will allow Queenstake, and its contract mill operator, Golden Eagle, to rehire workers, generate revenue and continue required environmental work at the site. "Having the mill back within the environmental requirements and its subsequent re-opening demonstrates how well Queenstake, the NDEP and the Attorney General's office can work together to ensure that the environment is protected, a viable mill is permitted to operate, and getting motivated millers and miners back to work," said Deputy Attorney General Robert Kilroy. History Jerritt Canyon Mine, located about 50 miles north of Elko, Nevada, shut down in August 2008. In September 2008, Golden Eagle began contract maintenance and environmental compliance operations with Queenstake's on-site staff. In October 2009, Queenstake and Golden Eagle entered into a Mill Operating Agreement, while working toward fulfilling certain environmental requirements established by the NDEP. The NDEP coordinated with the USDA Forest Service during the shutdown period to ensure the protection of human health and the environment. Queenstake holds environmental permits for air, water, waste and surface reclamation activities issued by the NDEP for the Jerritt Canyon mine. The NDEP has been working closely with Queenstake in a cooperative effort to address compliance issues at the site with respect to potential impacts to the environment. Queenstake and the NDEP coordinated efforts to resolve air emission controls related to the ore roasting operation, as well as diligently working to ensure that all water management systems were maintained and operated properly during the shut down. Progress Queenstake conducted a top-to-bottom evaluation of the Jerritt Canyon mill operation with NDEP and made numerous changes to address or eliminate air emissions. As part of this effort, and in conjunction with other interim operational changes, Queenstake has committed to implement state-of-the-art mercury-emission control technology by May 30, 2009. NDEP staff will remain on-site to monitor progress and ensure compliance with all environmental requirements. "We have been and will continue to work together with the NDEP to ensure that we meet or exceed their performance guidelines. This restart order is also the result of Golden Eagle and Queenstake working well together and we expect this successful relationship to continue as we move forward into operations," said Queenstake's CEO Graham Dickson. 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. 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