Each morning, the exchanges come alive – and finding a company with news to back its movement allows MN1 to bring you updates each morning and afternoon to keep you on top of the small and micro-cap markets. The following companies released news late yesterday evening or early this morning:Shares of Upstream Biosciences (OTCBB: UPBS) were up 15 cents, or 23 percent, to 81 cents this morning, moving on volume of 382,277. Today the company announced its agreement with Genpathway Inc. to advance its Biomarker validation studies. In the press release, the company said the analysis is expected to provide information critical for the next phase of Upstream’s program to validate its two cancer biomarkers and drug response assay. The company said the agreement with Genpathway enhances the analytic work already conducted.
Hartcourt Companies Inc. (OTCBB: HRCT) shares climbed 1 cent, or 26 percent, to 7 cents in mid-morning trading, moving on volume of 627,658. The movement reflects this morning’s announcement that the company has entered into a Memorandum of Understanding with Chongqing Zhengda Software Group Co. Ltd. Per the agreement, Hartcourt will acquire a 100 percent equity interest in its two subsidiaries: Chongqing Zhengda Education Group (ZDEG) and Chongqing Zhendgda Hengling Co. (ZDHL). According to the press release, Harcourt will pay about 415 million restricted shares of common stock and has agreed to raise $4 million in cash to finance expansion efforts of ZDEG and ZDHL.
Shares of PTA Holdings (Pink Sheets: PTAH) rose 2 cents, or 27 percent, to 7 cents this morning, on volume of 116,710. Today the company announced the integration of V-Flow Fuel Maximizer Inc. and its proprietary patent-pending Hydrogen/Oxygen Generating Component for increasing internal combustion engines’ fuel efficiency in the automotive and trucking industries. In a statement, the company said it feels most of the autos of the future will run strictly on hydrogen. V-Flow Fuel Maximizer’s “head start” on the hydrogen industry makes the company a fit for PTA Holdings.
Ocean Bio-Chem Inc. (Nasdaq: OBCI) shares soared $1.54, or 89 percent, to $3.27 this morning on volume of 1.2 million. Today the company announced its net sales for the second-quarter 2007 were $5.7 million, a 32 percent or $1.4 million increase, as compared to $4.3 million for the same period last year. In the press release, the company said its net sales for the six months ended June 30, 2007, were up 11.5 percent, or $1 million, to $9.7 million. The company attributes the increase in sales was due to favorable weather for boating.
