Urban Barns Foods (URBF) soars on positive news
Posted on: December 1st, 2011Written by:
Shares of Urban Barns Foods (OTCBB:URBF) were up more than 33% in mid-day trading today on news that a company representative visited Dubai to discuss new regional opportunities in the Middle East with the company’s regional representative, Profound Management GT CEO Talal Thabet.
“Discussions focused on ensuring that the next steps to be taken are to finalize the structuring of a volume share purchase,” stated Mr. Thabet and that Profound’s role is, “structuring the volume share purchase is essential before we commence discussions with our pool of trusted investors, as it is the basis of our dialogue. We know that the time is right to reveal our technology.”
According to a November 28th press release, Urban Barns Food has entered into a Memorandum of Understanding (MOU) with Caribbean Produce Exchange Inc., a leading distributor of produce in Puerto Rico. Under the terms of the MOU, Caribbean Produce intends to purchase for local distribution produce grown by Urban Barns at a Puerto Rico Cubic Farming facility.
Urban Barns uses patent pending and proprietary equipment to produce affordable vegetables in a secure and controlled indoor environment. By setting up subsidiary facilities and growing locally, Urban Barns can focus on supplying any community, regardless of the regional climate, effectively reducing shipping times and related spoilage costs. Urban Barns has the unique ability to scale and cater to the demands of all major communities.
5Barz, Inc (BARZ) shares climb on news of private placement deal
Posted on: April 4th, 2011Written by:
5Barz, Inc. (OTCBB: BARZ) enjoyed a 2.7 percent boost in share prices, reaching $1.52 over Friday’s closing price of $1.48 after announcing today that the Company has completed a private placement of 1,000,000 common shares. Monday’s volume of 252,942 for the Mission Viejo, California-based technology company skyrocketed two-and-a-half times beyond average daily volume of 99,253.
5Barz reported today that the Company had recently closed a private placement of 1,000,000 common shares at a price of $1.00 per share for aggregate proceeds of $1,000,000 (one million USD). The shares are to be purchased in full by a European institutional investor.
The Company issued the securities pursuant to a Regulation “S” exemption from registration for resale. Further, there are no warrants attached to the private placement. Proceeds of the private placement will be used for further corporate acquisitions and general working capital.
Daniel Bland 5BARz President and CEO commented on the recent transaction, stating, “We are very excited to begin the process of realizing our business objectives in commercializing the 5BARz cellular network extender technology. This first major investment will help further our operational plans and will position 5BARz International to realize meaningful growth over the near and long term.”
5Barz International, Inc. is the exclusive worldwide distributor of 5BARz Cellular Network Extender products developed by Cellynx, which were recently awarded the International CES Innovations 2010 Design and Engineering Awards. The Company’s patent pending products provide the first, plug and play, consumer electronic product that will capture cell signal, amplify it and resend that signal all within a device the size of a clock radio.
Spur Ventures (SPVEF) skyrockets 30 percent on company news
Posted on: March 30th, 2011Written by:
Spur Ventures Inc. (Pink Sheets: SPVEF) shares surged almost 30 percent on nearly triple average volume, tacking on 13.6 cents to reach 60.2 cents a share in afternoon trading Wednesday. Today the company announced plans to fast track its fertilizer phosphate project in China, as well as reporting on the Company’s partnership with Hubei Xingfa Chemicals Group.
Spur Ventures Inc. reported today that an agreement has been reached between its joint venture partner, Hubei Yichang Phosphate Chemical Company (YPCC), and YPPC’s intended future majority shareholder, Hubei Xingfa Chemical Fertilizer Group (“Xingfa”) to first combine the NPK production assets of Yichang Spur Chemicals (“YSC”) and the MAP project of Yichang Maple Leaf Chemicals (“YMC”) into one entity, YMC.
Furthermore, Xingfa has proposed to then vend into YMC its world scale fertilizer phosphate plant currently under construction in order to achieve commercial fertilizer production at YMC by the second quarter of 2012. Although the takeover has not yet received all required government approvals, the Xingfa team working with Spur has achieved greater progress on the YMC project since November of 2010than has been achieved in the last four years.
Dr. Rob Rennie, Spur’s President & CEO explained, “There have been a tremendous number of moving pieces which needed to be solved according to Chinese business and government practices. But the end result is that Spur’s patience and determination to implement the Sino-Canadian JV phosphate project is finally yielding results.”
Steven Dean, Spur’s Chairman, added, “Corporate governance and disclosure in China is evolving and our JV partners and the Chinese authorities have strengthened protection for Spur in its minority position. Further, the Supervisor appointed by Spur will ensure the Company has unlimited access and full investigative powers related to the operations and finances of YMC.”
China Green Energy Industries (CGRE) reports incredible increases for full year 2010
Posted on: March 30th, 2011Written by:
China Green Energy Industries, Inc. (OTCBB: CGRE) announced Wednesday extraordinary gains in revenue and net income for the full year 2010. Among the financial highlights for 2010, the Company reported revenue increased 136.4% to $28.6 million, gross profit increased 131.3% to $8.2 million, and net income increased 155.5% to $4.1 million, or $0.19 per share. The Company also reported cash on hand of $1.1 million and no long term debt as of December 31, 2010.
Chairman and Chief Executive Officer of China Green Energy, Mr. Jianliang Shi, commented, “We are pleased to report that sales were strong across all of our product lines in 2010. Cable products showed strong growth at 148.1% reaching a revenue level of $18.4 million for the year. Cryogen-free refrigerator sales increased by 106.3% to $9.5 million with orders stemming from both existing customers and new ones.”
China Green Energy Industries maintains its net income guidance of $14 million, or $0.60 per diluted share for 2011. The company, which is a leading manufacturer and distributor of high tech and environmentally-friendly consumer products, has three main product lines: light weight electric vehicles (LEV), cryogen-free refrigerators, and network/HDMI cables.
Mr. Shi continued, “The highest percentage gain in revenue came from our light electric vehicles (LEVs); however, the sales growth of 783.8% in 2010 came off a low base of $80,000. LEVs will play a much greater role in our business this year. In January 2011 we acquired the NICONIA brand of LEVs along with a sales network of 350 retail stores. NICONIA typically sells over 200,000 LEVs annually. Given the brand recognition, reputation and distribution for NICONIA LEVs, we believe this acquisition places us in a whole different league within the industry. We expect our LEV division to achieve sales of approximately $45 million in 2011 with gross margins of 25%. LEVs will comprise approximately 54% of our revenue in 2011, up from 2.5% in 2010.
Revenue for the year ended December 31, 2010 increased 136.4% to $28.6 million from $12.1 million for the same period the previous year. Gross profit for the twelve months ended December 31, 2010 increased 131.3% to $8.2 million compared to $3.5 million for the same period in 2009. Operating income for the twelve months ended December 31, 2010 increased 135.9% to $5.5 million compared to $2.3 million for the same period the previous year. Net income for the twelve months ended December 31, 2010 increased 155.5%, to $4.1 million, or $0.19 per diluted share, compared to $1.6 million, or $0.08 per diluted share, for the same period the previous year.
Shi concluded, “We expect favorable trends to continue based on heightened environmental awareness in China and government policies promoting the use of clean technology.”
Juhl Wind (JUHL) secures additional financing, continues construction of wind farm
Posted on: March 28th, 2011Written by:
Juhl Wind (OTCBB: JUHL) announced after the close of trade Monday that the Company has completed the securing of construction and term debt financing, as well as reporting on ongoing construction of the Valley View Wind Farm, which is located near the Juhl Wind’s headquarters in Southwestern Minnesota. The Company was successful in arranging construction financing along with the term loan on behalf of the Valley View LLC. Juhl Wind has been serving as the developer and construction manager on the project, which will utilize 5 Gamesa G87 wind turbines, and is expected to be completed in the Spring of 2011.
Commenting on the recent events, Dan Juhl, CEO of Juhl Wind, Inc., stated, “We are pleased with our ongoing progress on the Valley View Wind Farm. As we have stated in other project announcements, our ability to move projects forward in the face of a difficult market for project financing, is a testament to our credibility and to the success of our underlying business structure for these projects.”
In early 2009, Juhl Wind first announced the Valley View Wind Farm, with construction beginning in October 2010. Along the same lines as numerous other Juhl projects, the Valley View system will sell the clean wind energy to Xcel Energy under the terms of a 20 year, 10 MW Power Purchase Agreement. The wind farm incorporates one of Juhl Wind’s “Community Wind” structures in which ownership is shared with the local residents and farmers who own the land upon which the project is located.
Although Juhl has successfully arranged the construction and term loan framework for the project, the Company is in the still in the process of raising the remaining $5.1 million of equity required.
Mr. Juhl continued, “We are making rapid progress on this project and look forward to completing construction, successfully commissioning the facility and rounding out the remaining financing. Given the fact that the term loan mechanism is in place and that the project provides solid returns to equity investors, we are confident we will complete the equity raise this Spring. We have several equity investors evaluating the project for their portfolio.”
Juhl Wind, Inc. President John Mitola added, “Our ongoing progress on Valley View comes on the heels of our recent announcements of the completion of our Adams and Danielson wind project, as we have explained to the market, Valley View is another important element of the handful of wind farms we have been able to build almost simultaneously. Combined with our recently announced completion of Grant County, Adams and Danielson wind farms, these four projects represent just over $140 million in project work we have been able to execute in the past year or so – which cumulatively have a significant impact to our bottom line financial results in 2011.”
LecTec Corporation (LECT) reaches settlement with Chattem, Inc.
Posted on: March 28th, 2011Written by:
LecTec Corporation (OTCBB: LECT), enjoyed a 25 cent boost in share prices, a 9.1 percent increase over Friday’s closing price of 2.75 in afternoon trading today after the Company announced it had settled litigation against Chattem, Inc. for patent infringement. LecTec, an intellectual property licensing firm, is still proceeding with the lawsuit against Prince of Peace Enterprises and the trial is expected to commence on April 11, 2011, with court-mandated mediation scheduled for March 30, 2011.
LecTec’s Chief Executive Officer, Greg Freitag, commented, “This settlement provides LecTec with cash now without future risk, and will position the company for a positive future. We fully understand that some of our shareholders will be disappointed that the case against Chattem was not taken to trial, but the Board and I are confident that this settlement is clearly in the best interests of LecTec and its shareholders.”
Per the settlement reached by the two companies, Chattem has agreed to make a one-time, $3,600,000 payment to LecTec for a non-exclusive license to LecTec’s U.S. Patent Nos. 5,536,263 and 5,741,510, as well as any other LecTec patents that claim priority from these two patents, for use in connection with any product or process sold or used by Chattem, Inc. The settlement excludes products covered by exclusive licenses previously granted to other companies.
Texas-based LecTec Corporation reported cash holdings near $10 million on Septemeber 30, 2010 and the Company’s business plan is to pursue a merger and acquisition strategy which is intended to leverage its cash asset and improve shareholder value and liquidity. LecTec holds multiple domestic and international patents based on its original hydrogel patch technology and has filed patent applications on a hand sanitizer patch.
