May 2010 - Page 14 of 34

WednesdayMay 19, 2010 1:30 pm

Lux Energy Corp. (LUXE.OB) Reports Successful Oil Well in Canada

Lux Energy Corp. reported that a recent oil well drilled and completed on its acreage in Canada had an initial 24 hour production rate of 500 barrels of oil per day. The company said that the well was in the Woodrush Project, which is located in the Peace River Arch area in British Columbia. The company is not the operator of the well, but holds a working interest. The well was located north of an earlier oil discovery made in the Woodrush Project and targeted the Halfway Sand formation. The company said that production casing was set at the well,…

WednesdayMay 19, 2010 12:44 pm

Chromcraft Revington, Inc. (CRC) Reports Smaller Loss in First Quarter of 2010

Chromcraft Revington, Inc. reported a loss of $1.0 million, or ($0.21) per diluted share, in the first quarter of 2010. This was an improvement from the first quarter of 2009, when the company lost $3.1 million, or ($0.69) per share. Chromcraft Revington, Inc. said that revenue declined from $16.7 million in the first quarter of 2009 to $13.9 million in the first quarter of 2010. The management team attributed the decrease in revenue to the economic downturn, the discontinuation of high end lines of furniture by the company, and competition from imports. The company reported a lower net loss in…

WednesdayMay 19, 2010 12:42 pm

Turbine Truck Engines (TTEG.OB) Inks Acquisition Agreement with Hua Tec Enterprise

Turbine Truck Engines Inc. and Hua Tec Enterprise Co. Ltd. recently entered into a Share Purchase Agreement in which TTE will acquire 80 percent of the issued shares of Hua Tec. Hua Tec owns all of the issued capital stock of its subsidiary Guangdong Kingtec Electrical Co. Ltd. Per the agreement, TTE will assume control of all Kingtec’s resources, which it will use to assist in developing its patented Detonation Cycle Gas Turbine (DCGT) engine. “This acquisition should accelerate the process of advancing the DCGT through the design and manufacturing process. Our team is also determined to promote Kingtec as…

WednesdayMay 19, 2010 12:41 pm

China Skyrise Digital Service, Inc. (CSKD.OB) Posts Significant Gains in Q1 2010 Performance

China Skyrise Digital Service Inc., a China-based developer and installer of video-surveillance products, recently announced financial results for the three months ended March 31, 2010, posting solid increases in revenue and net income. For the first quarter of 2010, China Skyrise reported revenues at approximately $1.3 million, a strong increase of 231.9 percent versus $0.4 million for the first quarter of 2009. The company attributes the recovery of the Chinese real-estate market and significant increases in spending by real-estate developers. The company also launched a conservative strategy in marketing and sales and declined to take on projects that required large…

WednesdayMay 19, 2010 11:07 am

Cellceutix Corp. (CTIX.OB) Continues Progress Towards Phase 1 Human Trials for Kevetrin™

Cellceutix Corporation issued a press release yesterday to announce that they have filed U.S. and foreign patent applications that cover pharmaceutical formulations of their compound Kevetrin™, which is being developed as a treatment for drug-resistant cancers. The patent applications not only cover Kevetrin as a treatment for cancer, but a variety of other areas and also cover many other unique compounds that have similar structures which Cellceutix may later choose to develop also. George Evans, Chief Executive Officer of Cellceutix, was quoted as saying, "This filing should give us a strong patent position in the major markets around the world."…

WednesdayMay 19, 2010 10:56 am

Endeavour Silver Corp. (EXK) Reports Solid Profits and Lower Costs

As the European Euro continues to slide, precious metals continue to find favor. Some companies operating in this area are development stage while others are producing and profiting at a solid and remarkable pace. One needs to pay close attention when dealing in this type of investment space, but if the right company is invested in, profit will happen quickly. Endeavour Silver Corp., a silver and gold mining company, works to evaluate, develop and exploit silver and gold mining deposits primarily in Mexico. The company was founded in 1981 and is based in Vancouver, Canada. Given recent trends in the…

WednesdayMay 19, 2010 10:52 am

Tactical Air Defense Services, Inc. (TADF.OB) Signs Agreement for Use of Russian IL-76 and IL-78 Supertankers

Tactical Air Defense Services Inc., a Nevada-based aerospace/defense services contractor, announced today that it has signed a lease-option agreement with Air Support Systems, LLC for the exclusive lease of four giant Russian aircraft, two ILyushin IL-76 and two ILyushin IL-78. TADS will offer the aircraft to the U.S. and foreign-allied militaries, and other federal and state agencies, for a variety of uses, including air-to-air refueling services, aerial fire-fighting services, oil-spill containment services, and other disaster relief deployment services. ILyushin aircraft are widely considered superior to any other aircraft in service today for such applications. The ILyushin IL-76 supertanker is specifically…

WednesdayMay 19, 2010 10:50 am

Clenergen Corp. (CRGE.OB) to Commence Commercial Trials of Its Tree Species and Bamboo on 900 Acres

Clenergen Corp. offers strategic clean energy generation and sustainable fuel supply projects to address the requirement for renewable and sustainable supplies of power. The company announced today that it had signed a memorandum of agreement with Growmore Biotech to undertake commercial trials of Clenergen's tree species and bamboo on 900 acres of land the company has under agreement in India, Ghana, Guyana and the Philippines. Currently, the company has scheduled 22,000 acres under 49-year lease agreements in these countries. This acreage is projected to yield over 880,000 tons of biomass per year by 2014 and provide fuel supply for 110…

WednesdayMay 19, 2010 9:29 am

Sector 10, Inc. (SECI.OB) Announces Release of New Technology

One company that is starting to capture the attention of investors is the Bellevue, Washington based Sector 10, Inc. Sector 10 is redefining the emergency response paradigm from centralized equipment staging to onsite pre-deployed resources, effectively “Bridging the Survival Gap.” Today, Sector 10 took a step towards enhancing its future with the announcement that they will release new technology next week. The new technology will be the PLX-3D Tracker. The PLX-3D will be released next week to First Responders in California with the system to hit the National Market by June 30, 2010 according to expectations. The PLX-3D Tracker is…

WednesdayMay 19, 2010 9:26 am

Henan Shuncheng Group Coal & Coke (BRBH.OB) Goes Public Successfully

About a year ago, Henan Shuncheng Group Coal & Coke Company Limited engaged USA Wall Street Capital United Investment Group as its advisor, seeking financing by listing on the US stock market. On May 14, 2010, an agreement was announced with Birch Branch Inc. (OTCBB: BRBH) to bring Henan Shuncheng public via a reverse merger. The share exchange agreement provides for the acquisition by Birch Branch of 100% of the issued and outstanding capital stock of Shun Cheng HK. Upon completion of the share exchange, the Shun Cheng HK shareholders will own approximately 95% of the issued and outstanding shares…

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Month: May 2010