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WednesdayApr 21, 2010 7:51 am

Tejon Ranch Co. (TRC) Announces Rights Offering

Tejon Ranch Co. announced a rights offering that allows existing shareholders to purchase additional shares of common stock. The rights are transferable and will allow purchase at a discount from the market price. Tejon Ranch Co. said that the company has not yet determined the record date and subscription price; but that it estimates the gross proceeds will be $50 million if shareholders exercise all the rights issued. Tejon Ranch Co. has been affected by the recent recession like many other companies in the United States. The company reported a net loss of $3.3 million, or $0.20 per diluted share,…

WednesdayApr 21, 2010 7:50 am

Venoco, Inc. (VQ) to Sell Texas Assets and Boosts Capital Expenditures

Venoco, Inc. announced the sale of three separate producing oil and gas fields from its United States portfolio. The company will receive a total of $100 million from the sales and expects a closing by May 2010. The company sold its interests in the Manvel Field in Texas, an overriding royalty interest in the Hastings Field, also in Texas, and some minor acreage in the Texas Gulf Coast area. Venoco, Inc. will use the proceeds to invest in its operations in California. Tim Marquez, the CEO of Venoco, Inc. said, “We are very pleased with the level of interest in…

WednesdayApr 21, 2010 7:48 am

Big Bear Mining Corp. (BGBR.OB) Announces Addition of Renowned Geologist John Glasscock to Its Board of Directors

Big Bear Mining Corp., a U.S.-based exploration and development business focused on the acquisition and development of Gold and other precious commodity projects, recently announced that Mr. John Glasscock has joined the company’s board of directors. Recognized as a renowned geologist with more than 25 years of experience in the mineral exploration industry, Mr. Glasscock’s most recent accomplishments include the acquisition and exploration of a large uranium property portfolio for Tournigain Energy Ltd. (TSX-V:TVC) and the generation of several gold properties for Crescent Resources Corp. (TSX VENTURE:CRC). In addition, Mr. Glasscock is the founder of Cowboy Exploration, which has generated…

WednesdayApr 21, 2010 7:48 am

Santa Cruz County Bank (SCZC.OB) Announces Record First Quarter Earnings

Santa Cruz County Bank yesterday announced earnings for the first quarter of 2010. They also announced that the Bank's Small Business Administration (SBA) and Business and Industry (B&I) Department ranked 13th in the Nation during the quarter. This is for providing $18.6 million in Business and Industry loans to small businesses during the USDA's fiscal year ended 2009. Additionally during the quarter, Santa Cruz County Bank celebrated the one-year anniversary of their Aptos banking office in February. This location grew to nearly $10 million in deposits since their opening. Highlights for the quarter ended March 31, 2010 include Santa Cruz…

WednesdayApr 21, 2010 7:18 am

General Environmental Management, Inc. (GEVI.OB) Acquires Exclusive Rights for PetroMax Treatment Technology

Today before the opening bell, General Environmental Management Inc. announced that its subsidiary, Southern California Waste Water (SCWW), has acquired exclusive licensing rights to market the PetroMaxTech treatment chemical and process known as PetroMax as part of its service to the oil and gas industry. Tim Koziol, CEO of GEM, commented, “This technology provides SCWW with additional capabilities to service a core segment of our client base, the oil and gas industry. As a non-hazardous wastewater treatment facility, SCWW is the treatment option of choice for our clients, and we are always looking for additional means to service our clients’…

TuesdayApr 20, 2010 4:06 pm

Hypertension Diagnostics, Inc.’s (HDII.OB) CardioVascular Profiling Test Better than Current Standards in Predicting Hypertension

Hypertension Diagnostics, Inc. issued a press release today to announce data that has been published in the American Journal of Epidemiology which indicates that the Hypertension’s CardioVascular Profiling Test is a more reliable and accurate predictor of hypertension than standard, more expensive procedures that are used today by physicians and cardiologists. The CardioVascular Profiling Test measures the elasticity of small blood vessels in a non-evasive manner. The Hypertension Diagnostics’ products capture blood pressure waveform data produced by the beating heart and analyze it to provide an assessment of systemic arterial elasticity for large and very small arteries. The data was…

TuesdayApr 20, 2010 3:31 pm

Citizens Community Bank (CZYB) Reports 50% Increase in Earnings per Share in Q1 2010

Citizens Community Bank reported net income of $85,000, or $0.06 per diluted share, in the first quarter of 2010. Citizens Community Bank earned net income of $50,000 or $0.04 per diluted share, in the first quarter of 2009. Citizens Community Bank had total assets of $171.9 million and total deposits of $142.2 million as of March 31, 2010. Both total assets and total loans were about flat with the same quarter in 2009. The bank gave positive commentary on the direction and strength of the economic recovery in its service area. Citizens Community Bank reported a 4.23% net interest margin…

TuesdayApr 20, 2010 1:41 pm

Southern First Bancshares, Inc. (SFST) Reports Loss in First Quarter of 2010

Southern First Bancshares, Inc. reported a net loss of $322,000, or ($0.10) per diluted share, for the first quarter of 2010. Southern First Bancshares, Inc. earned $367,000, or $0.12 per diluted share, in the same quarter of 2009. Southern First Bancshares, Inc. blamed the net loss on an increase in loan loss reserves, higher insurance premiums from the Federal Deposit Insurance Corporation (FDIC) and a preferred dividend paid to the government due to the Troubled Asset Relief Plan (TARP). “The company's performance in the first quarter was generally as expected as higher credit costs and FDIC insurance premiums continue to…

TuesdayApr 20, 2010 12:28 pm

NetSol Technologies, Inc. (NTWK) Forms Atheeb NetSol Limited with Atheeb Group of Saudi Arabia

NetSol Technologies, Inc., long renowned the world over for providing highly specialized solutions custom-tailored to the given industry of a client via business services and enterprise applications, in accordance with the Company’s proprietary BestShoring™ model, recently announced alongside Middle East partner Atheeb Group the official operational launch of the Atheeb NetSol Limited joint venture. A real milestone, both for the rapidly accreting Middle East IT services/software development market, and for the Company, is signified with the formalization and official operational launch of Atheeb NetSol Limited; which is to be focused on developing localized/market-specific opportunities while obtaining software engineering market penetration…

TuesdayApr 20, 2010 12:23 pm

Seacoast Commerce Bank (SCCB.OB) Ranked #1 Small Business Lender in San Diego, #4 in California

Seacoast Commerce Bank, the biggest and longest in continual operation among commercial banks in San Diego’s South County (serving all of greater CA), which has built up its reputation and prominence over the years by constantly delivering customer-success oriented service, was happy to announce being ranked the #1 loan provider to San Diego’s small businesses by the U. S. Small Business Administration (SBA) for the six-month period ending Mar. 31, 2010. Providing a shining light amid stormy economic weather, SCCB beat out all competitors according to data generated via the SBA’s 7(a) loan program that tracks which banks are lending…

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