Blog - Page 3511 of 5490

TuesdaySep 14, 2010 8:32 am

BMB Munai, Inc. (KAZ) Reaches Restructuring Agreement with Convertible Bondholders

BMB Munai, Inc. reported that the company has reached an agreement with a group of bondholders on a restructuring of one of its outstanding bond issues. BMB Munai, Inc. has been negotiating with the owners of $60 million principal value of the company’s 5% senior convertible notes due 2012. The restructuring changes are contained in Supplemental Indenture No. 2, to be executed by both the bondholders and the company. BMB Munai, Inc. is required to make a cash payment of $1 million towards the principal balance of the notes, and the company will also increase the interest rate on the…

TuesdaySep 14, 2010 8:30 am

Credo Petroleum Corp. (CRED) Reports Successful Well in North Dakota

Credo Petroleum Corp. reported the success of a horizontal well drilled in North Dakota. The company said that the well had the highest initial production rate of any well in its history. The Weisz 11-14#1-H well drilled over the last few months produced at an initial rate of production in excess of 2,000 barrels of oil equivalent (BOE) during an initial 24 hour production period. The well targeted the Middle Bakken formation and was completed with a thirty-seven stage hydraulic fracturing operation. Credo Petroleum Corporation said that the Weisz 11-14#1-H well was the company’s second successful well targeting the Middle…

TuesdaySep 14, 2010 8:01 am

Micro Identification Technologies, Inc. (MMTC.OB) Production Start-Up Plans Remain On Track

Micro Identification Technologies, Inc. announced today that its MIT 1000 System remains on track to begin production later this year. According to the press release, critical sub-system electronics have been successfully tested and the remaining tasks present no additional challenges for MIT and its contract manufacturer, OSI Optoelectronics, a subsidiary of OSI Systems (NASDAQ: OSIS). In the release, the company also noted that 8,500 pounds of beef were recently recalled due to E.coli contamination. The strain of E.coli causing the contamination was a shiga toxin-producing E.coli (STEC) known as E.coli O26 that many people believe should be classified as an…

TuesdaySep 14, 2010 6:59 am

Simulated Environment Concepts, Inc. (SMEV.PK) Announces Major Cost Reduction Initiative

Simulated Environment Concepts (SE Concepts), makers of the high pressurized dry water massage and relaxation station SpaCapsule, announced this morning its long anticipated plans of making an investment into the production process to significantly reduce the cost of manufacturing, thereby strengthening cash flow and profitability. According to the press release, execution may likely occur within the next few weeks. “This will be an important benchmark for us,” commented Dr. Ella Frenkel, Chairman and CEO of Simulated Environment Concepts, Inc. (SE Concepts). “With a retail price tag north of $25k, if the cost of manufacturing the Spa Capsule was greatly lowered,…

MondaySep 13, 2010 4:04 pm

Welwind Energy International Corp. (WWEI.OB) Receives $16.3M Infusion to Develop Wind Farm Project in China

Welwind Energy International Corp., founded to build, own and operate wind farms, today announced a formal Investment Cooperation Agreement (ICA) with Guangdong Yatu Industry Investment Co. Ltd. (GYII) to jointly develop wind farm projects in China, fueling Welwind with additional financing. Per the ICA, GYII will invest $16.3 million to co-develop Welwind’s first phase 49.5MW wind farm project in Zhanjiang of Guangdong Province. GYII will hold a 20 percent stake in the project. Additionally, GYII will appoint Welwind as its North American selling agent for its new wind turbine system technology; the companies will jointly establish a new turbine generator…

MondaySep 13, 2010 4:01 pm

Adino Energy Corp. (ADNY.OB) Completes Acquisition of PetroEnergy; Shares Jump 27%

Adino Energy Corp., an emerging oil and gas exploration and production company, today announced its acquisition of San Angelo, Texas-based PetroGreen Energy LCC and Petro 2000 Exploration Co., collectively “Petro Energy.” As a licensed Texas Oilfield Operator, Petro Energy currently operates 11 wells on two leases spanning roughly 300 acres in Coleman County, Texas. The company also owns a drilling rig, two service rigs and associated tools and equipment. According to the press release, the area in which the leases are located has generated active oil production from multiple pay zones since the 1950s. Adino says that while reservoir pressure…

MondaySep 13, 2010 1:30 pm

Vyteris, Inc. (VYTR.OB) Announces Agreement to Merge with MediSync BioServices

Vyteris Inc. is the developer and manufacturer of the first active, ready-to-use drug delivery patch (LidoSite) to receive marketing clearance from the US Food and Drug Administration. The company's proprietary transdermal smart patch technology, which allows for precise dosing, delivers drugs comfortably through the skin using low-level electrical energy. The company today announced that it has executed a definite merger agreement with MediSync Bioservices Inc. A privately-held company, MediSync is focused on the consolidation of niche contract research organizations, site management organizations and related businesses within the highly fragmented $22 billion contract drug development industry. Under terms of the agreement,…

MondaySep 13, 2010 12:33 pm

Mercer Gold Corp. (MRGP.OB) is “One to Watch”

Founded in 2004, Mercer Gold Corporation is a company that focuses on gold exploration and resource definition in Colombia. They acquired the prospective Guayabales Gold Project, located in the Marmato Gold District, Department of Caldas, earlier in 2010. The Company is exploring the Guayabales property and is looking to acquire additional prospective gold properties in Colombia. Mercer Gold Corp. trades on the OTCBB, and they have their headquarters in Golden, Colorado. The Company was formerly known as Uranium International Corp. They changed their name to Mercer Gold Corporation on June 9, 2010. Mercer Gold Corporation, entered into an Option Agreement…

MondaySep 13, 2010 12:19 pm

Beacon Equity Research Featured Company: Gold American Mining Corp. (SILA.OB)

Gold American Mining is a Reno, NV-based gold and precious metals exploration company focused on aggressive expansion into identified strategic acquisitions which have abundant potential for production. A stable portfolio of robust international properties, in regions characterized by steady political environments and sound underlying economies, provides SILA with a strong hand in the Au/Ag game. Gold and silver both have strong futures, the first in financial markets as a hedge against currency fluctuation, and in industry as a vital ingredient for high performance electronics. Together, they put SILA in prime position to capitalize on a bright future, with primary holdings…

MondaySep 13, 2010 12:14 pm

Beacon Equity Research Featured Company: Li-ion Motors Corp. (LMCO.OB)

Li-ion Motors, while only ten years old, has already developed a broad array of sleek and stylish lithium-powered electric vehicles (EVs) ranging from scooters and mopeds to power sport vehicles and cars, like the Inizio sports car which boasts 170-200 mph top speeds while getting 250 miles on a single charge. The Company’s vehicles employ a unique power system comprised of high performance components and can be adapted to multiple energy sources, making it suitable for static energy production at facilities looking to green up their infrastructure. Able to achieve superior efficiency, reliability and safety, Li-ion Motors' vehicles are used…

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