Blog - Page 3609 of 5440

MondayApr 26, 2010 7:04 am

Mainland Resources, Inc. (MNLU.OB) Closes Sale of Shale Assets

Mainland Resources, Inc. closed on the sale of its assets in the Haynesville Shale in Louisiana to EXCO Resources (XCO). The sale is effective as of January 1, 2010. The assets are located in the East Holly Field, in DeSoto Parish, Louisiana, and Mainland Resources, Inc. received $28.16 million cash in the sale. Mainland Resources, Inc. said that the Haynesville Shale assets divested included the company’s 40% working interest in mineral rights at a depth lower than the base of the Cotton Valley Sand formation. The company kept a full interest in all formations above this base, including the Cotton…

MondayApr 26, 2010 7:02 am

Town and Country Financial Corp. (TWCF) Reports Decrease in First Quarter Net Income

Town and Country Financial Corp. reported net income of $316,000, or $0.11 per share, in the first quarter of 2010. This was down slightly from the $343,000, or $0.12 per share, reported for the same quarter of 2009. Despite the decrease in net income over last year, the company expressed optimism about the balance of 2010, but tempered the outlook with warnings on continued deterioration in asset quality and increased government regulations. David Kirschner, the CEO of Town and Country Financial Corporation, said, “We are cautiously optimistic about 2010. While mortgage refinance revenue is off significantly from last year, our…

MondayApr 26, 2010 7:00 am

China Agri-Business Inc. (CHBU.OB) Sums up 2009 Efforts, Offers Positive Outlook for 2010

China Agri-Business Inc. manufactures and distributes organic agricultural application products in China. The company recently commented on its full-year financial results for the 12 months ended December 31, 2009, noting its progress and expansion efforts, as well as its expectations for 2010. Sales for the full-year 2009 increased $116,175, or 4.0 percent, to $3,038,560 in 2009 from $2,922,385 in 2008. The company attributes the increase primarily to positive response to its newly launched expansion campaign, the "New Agriculture-Generator." "In the fourth quarter of 2008, we started an aggressive initiative that we call the 'New Agriculture-Generator.' The primary purpose of the…

FridayApr 23, 2010 3:09 pm

Seacoast Commerce Bank (SCCB.OB) Posts Unaudited Q1 Results and Continued Small-Business Loans

Seacoast Commerce Bank today announced its unaudited results of operations for the first quarter ended March 31, 2010, reporting a pre-provision expense (PPE) operating profit of $203,000 for the quarter compared to a PPE operating loss of $139,000 for the first quarter of 2008. The bank's net profit after provisions for loan losses in the first quarter of 2010 was $53,000 compared to a net loss of $434,000 for the same period last year. The company also noted several highlights, including asset growth of $31.7 million, or 39.4 percent, to a record $112.3 million; liquidity growth, defined as cash, due…

FridayApr 23, 2010 2:07 pm

A Tale Of Two Predictors

When it comes to stocks, the only thing as old as the market itself is the attempt to predict it. Every year brings with it a new tribe of analysts and advisors, along with a new generation of investors willing to pay for their advice. As often as not, the real cost to the investor is when the results come in. But it makes no difference. It’s a game that will never stop. That’s because there will always be winners along with the losers, and most players will just shift their allegiances. Two of the best known predictors are Nouriel…

FridayApr 23, 2010 1:08 pm

CitySide Tickets, Inc. (CIST.PK) Recent Letter of Intent to Acquire StadiumTickets.com

CitySide Tickets, Inc., a nationwide ticket seller poised to quickly become one of the top event ticket providers via acquisition of smaller ticket firms, announced the signing of a Letter of Intent with StadiumTickets.com to acquire 100% ownership. For CitySide, which owns and operates e-commerce site CitySidetickets.com where users can obtain and also sell tickets to the best in today’s music, sports and theater events, the agreement with StadiumTickets.com, which went live March 1 and began accepting broker orders, is a natural evolution. Key aspects of StadiumTickets.com include event ticket and real-time entertainment ticket brokering via a secure US/Europe network…

FridayApr 23, 2010 12:58 pm

Revonergy, Inc. (RNRG.OB) Announces New Members of its Board of Directors

Revonergy Inc., a global developer and operator of renewable energy plants squarely focused on long-term cash flows and obtaining renewable energy credits, announced the election of four new members to its Board of Directors in accordance with the recent Dec. 09 change of control. The new members are Ravi Daswani, Ian Robinson, Ken Telford, and Simoun Ung. President and CEO of RNRG, Ravi Daswani, thanked everyone for their hard work, which has culminated in being able to assemble a multi-disciplinary team of professionals who collectively bring a robust skill set in key areas like renewable energy, waste-to-energy and corporate stewardship,…

FridayApr 23, 2010 11:10 am

Cheniere Energy Inc. (LNG) Pays Down Debt, Prepares for Growth

One may look at the commodity price of natural gas and wonder why anybody would be interested in investing in it. Others look at the investment as a long-term play. One way or another natural gas will be having its day in the sun and investing strategically today will potentially be very profitable. Cheniere Energy Inc., owns and operates on-shore receiving terminals for natural gas. The company currently owns and operates six facilities located primarily along the gulf coast of the United States. It also engages in off shore oil and natural gas exploration along with activities in the pipeline…

FridayApr 23, 2010 11:05 am

Positron, Inc. (POSC.OB) – A Buy-Out Candidate?

Message boards are being flooded with buy-out rumors for Positron, Inc. Reports on the web are making statements regarding a big development with news to be released as early as Monday. In a press release issued by Positron yesterday morning, Patrick G. Rooney, the Chairman of the Board of Positron Corporation, addressed these rumors. While not confirming anything specific, Mr. Rooney was quoted as stating that Positron "is currently in discussions with a potential partner in our industry." Positron designs, manufactures, markets, and services molecular imaging devices/software for cardiology in the United States and internationally. Its flagship product is a…

FridayApr 23, 2010 9:08 am

Update on SmartMetric, Inc. (SMME.OB) Patent Infringement Lawsuit Against Mastercard and Visa

On March 15, 2010, SmartMetric, Inc. filed a lawsuit against both Visa, Inc. and Mastercard, Inc. claiming patent infringement against its patent issued United States Patent Number 6,792,464. The case was filed in the United States Federal Court, Central District of California and given Case # CV1864JHN. SmartMetric claims in its lawsuit that both Visa and MasterCard are in violation of its issued patent dealing with the use of a data card and an automatic connection to a network. The patent infringement is in regards to the “PayPass” system used by both Visa and Mastercard. There had been more than…

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