October 2010 - Page 30 of 33

TuesdayOct 05, 2010 8:53 am

Home System Group (HSYT.OB) Completes $27M Acquisition of Two Appliance Companies

China-based Home System Group produces small household appliances, stainless steel gas grills and ovens, fans, lamps, and various other products. The company today announced it has acquired 90 percent of the outstanding stock of Zhongshan Safan Electrical Appliances Co. Ltd. for $12 million; and the acquisition of 100 percent of the outstanding common stock of Jiangmen City Jinxinglong Electrical Appliances Co. Ltd. for $15 million. Sanfan is an export-oriented manufacturer of a variety of fans ranging from industrial blowers to ceiling units. The company distributes its products primarily in Southeast Asia. For the half-year ended June 30, 2010, unaudited revenue…

TuesdayOct 05, 2010 8:52 am

Deep Down, Inc. (DPDW.OB) Announces Amendment to Purchase Agreement

Deep Down, Inc. announced yesterday that they entered into an amendment to the purchase agreement, by and among Deep Down (the Company), Cuming Corporation (Cuming) and the selling stockholders (the Amendment) dated effective as of July 31, 2010, to provide for an extension of the exclusivity period and the date on which Deep Down or the selling stockholders may terminate the purchase agreement. The Amendment also revised the components of the purchase price from approximately $37 million in the form of a combination of cash and shares of Deep Down and the assumption of approximately $13 million of net customer…

TuesdayOct 05, 2010 8:48 am

Sunridge International (SNDZ.OB) to Expand $4 Million Contract

Sunridge International announced yesterday that they have signed a contract with New Amsterdam Marketing for exclusive rights in Bangladesh to distribute its PNT product line. New Amsterdam Marketing is currently the exclusive distributor of Sunridge products in India. The PNT product line has proven in studies to be a safe, inexpensive alternative for glaucoma (a leading cause of blindness) and ocular hypertension treatment. The two minute treatment has been developed, patented, and distributed by Sunridge International's wholly owned subsidiary Ophthalmic International (www.oi-pnt.com). Sunridge medical consultant Leo D. Bores, M.D., will be training doctors, treating patients and making other public appearances…

TuesdayOct 05, 2010 8:03 am

Mobile Star Corp. (MBST.OB) CEO Issues Shareholder Letter Detailing Future Plans

Mobile Star Corp., a developer of karaoke vending machines, published the following letter from CEO Danny Elbaz to all shareholders. The letter expresses the company's commitment to the commercial introduction of the Mobile Star personal karaoke experience over the next six months. Dear Shareholders, The Mobile Star has continued to make positive strides during the first three quarters of 2010. Most recently, the company has secured the required financing to continue funding ongoing business operations, and to meet the commercial goals of the company over the next six months. The financial agreement calls for the financier to provide the Mobile…

TuesdayOct 05, 2010 7:53 am

IDO Security, Inc. (IDOI.OB) Receives Order from Ben-Gurion International Airport for Additional MagShoe M-100 Units

IDO Security, Inc., developer of the innovative Magshoe™ "shoes-on" weapons metal detection system, announced yesterday after the closing bell that it has received another order for MagShoe™ M-100 units to be installed in Tel Aviv's Ben-Gurion International Airport. This order is in addition to the numerous units already operating successfully for more than two years. "We see this new order as a vote of confidence in the MagShoe™, as Ben-Gurion is known for its very high level of security," commented Mr. Dani Werber, International Sales & Marketing Manager for IDO Security. Mr. Werber added, "Since the MagShoe™ is in operation…

TuesdayOct 05, 2010 7:41 am

Simulated Environment Concepts, Inc. (SMEV.PK) Secures Initial Capital for Manufacturing Cost Reduction Initiative

Simulated Environment Concepts, the manufacturer and developer of medical, aesthetic and wellness equipment, announced this morning that it has secured the initial capital necessary to commence its plan to reduce manufacturing cost of their flagship product SpaCapsule. Dr. Ella Frenkel, Chairman and CEO of Simulated Environment Concepts (SE Concepts), Inc., stated, "What we will achieve fiscally from this effort could result in our becoming a top purveyor of medical, health and wellness products in our market." SE Concepts' management believes Spa Capsule has unprecedented international appeal, and with the current investment into the production process - intended to be funded…

MondayOct 04, 2010 1:45 pm

SinoCoking Coal and Coke Chemical Industries, Inc. (SCOK) Reports Fiscal 2010 Results

SinoCoking Coal and Coke Chemical Industries, Inc. reported a strong year over year increase in sales for fiscal 2010. The company said that net income also increased year over year, but this was due to a one-time non-cash gain. SinoCoking Coal and Coke Chemical Industries, Inc. said that sales for the fiscal year ending June 30, 2010, were $59 million, a 15% increase compared to the $51.4 million reported in fiscal 2009. The company attributed the strong gain in sales to higher orders in its raw coal division. SinoCoking Coal and Coke Chemical Industries, Inc. reported net income on a…

MondayOct 04, 2010 1:43 pm

American Petro-Hunter, Inc. (AAPH.OB) Starts Completion of Oklahoma Well

American Petro-Hunter, Inc. reported that the company has begun completion operations on a well at its oil and gas properties in Oklahoma. American Petro-Hunter, Inc. is currently installing a tank battery and pumping unit at the site of the NOJ26 well in order to assist in completion operations. The company intends to fracture stimulate the oil shale to get the well to produce oil. American Petro-Hunter, Inc. said that after the NOJ26 well has been completed, the well would be ready for commercial production. The NOJ26 well is located at the North Oklahoma Oil Project. American Petro-Hunter, Inc. found two…

MondayOct 04, 2010 1:41 pm

Unigene Laboratories, Inc. (UGNE.OB) Expands Leadership Team to Support Peptide Therapeutics Development

Unigene Laboratories, www.unigene.com – a leader in the burgeoning field of peptide-based therapeutics which is aggressively building a robust portfolio of partnerships via its sophisticated Peptelligence™ platform, reported today the expansion of its leadership team (effectively immediately) with the appointment of Gregory T. Mayes to the newly created position of Vice President, Corporate Affairs and General Counsel. Subsequently Roxanne Tavakkol was promoted to the position of VP, Global Regulatory Affairs and both of these appointments will report directly President and CEO, Ashleigh Palmer. This more robust leadership profile will help the Company to fully leverage its Peptelligence platform’s assets which…

MondayOct 04, 2010 1:39 pm

Weikang Bio-Technology Group Co., Inc. (WKBT.OB) Announces Upcoming Launch of Three New Therapeutics

Weikang Bio-Technology Group, www.weikangbio.com – producer of traditional Chinese medicine, health aids, powerful nutritional supplements (all in full compliance with PRC regulatory licensure) and which is actively branching out into herbal extracts as well as GMP-certified western prescription and OTC pharmaceuticals, announced today plans to launch three brand new therapeutics during Q1 FY11. A total projected revenue generation from the new products should exceed $3.1M ($1.1M net) in 2011 and have already received the stamp of approval from the State Food and Drug Administration. Chairman and CEO of WKBT, Mr. Yin Wang, was pleased at the health of the Company…

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Month: October 2010