Buckingham Exploration (BUKX) acquires option for 100 percent gold/silver property

Buckingham Exploration (OTCBB: BUKX) announced today that the Company has optioned the Dome Property Mineral Claims in the Beaverdell Mining Camp, which is located in South Central Vancouver Island. Buckingham has acquired this option through its wholly-owned subsidiary, 0887717 B.C. Ltd.

Buckingham Exploration is an exploration stage company focused on the acquisition and exploration of mineral resources in North America, and through its subsidiary, has agreed to pay a total of $6,000 in cash and to grant an option to purchase shares of its common stock in consideration for the exclusive right to acquire a one hundred percent undivided interest in the claims. In addition, Buckingham has to incur not less than $10,000 in expenditures on exploration and development of the Property before September 30, 2010.

The Dome Property Mineral Claim is comprised of sixteen mineral claims covering approximately 360 hectares (890 acres), located four kilometers southeast of Beaverdell, British Columbia, in the heart of the historic Beaverdell Mining Camp. The Dome Project Mineral claims cover the historic workings of the Nepanee Prospect that was worked intermittently between 1904 through 1935 and is easily accessible by a network of well maintained logging roads and has a major power line traversing the Project.

The Company’s forecasted 2010 exploration program will be to explore and evaluate all of the mineralized shear zones that cross the Dome property in order to establish the most favorable drill targets to commence drilling.

EntreMed, Inc. (Nasdaq: ENMD) shares soar on Q2 results

Shares of EntreMed, Inc. (Nasdaq: ENMD) jumped 28 percent from Wednesday’s closing price early Thursday, after the company announced less-than positive second quarter financial results. EntreMed reported a second quarter net loss of $4.9 million, or 62 cents per share, compared with a net loss of $3.1 million, or 46 cents per share for the same period a year ago.

For the first six months of 2010 EntreMed reported a net loss of $7.1 million, or 95 cents per share as compared to a net loss of $6.6 million, or 98 cents per share in the same period a year ago. As of June 30, 2010, EntreMed had cash and short-term investments of approximately $8 million.

Additionally, EntreMed announced a 1-for-11 reverse stock split on June 30, 2010, to better enable the company to maintain its listing on the Nasdaq Capital Market. As a result of the reverse split, the number of shares of outstanding common stock will be approximately 9.5 million, excluding stock options and unexercised warrants and subject to adjustment for fractional shares.

“During the second quarter, we achieved a critical milestone with the initiation of a multi-center Phase 2 study for ENMD-2076 in ovarian cancer patients,” EntreMed’s Executive Chairman Michael Tarnow said in a statement.

Last month, EntreMed announced the publication of preclinical data for its Phase 2 oncology drug candidate, ENMD-2076 an Aurora A/angiogenic kinase inhibitor, which demonstrated significant activity against multiple myeloma (MM) cell lines and in MM models in vivo. Results of the study, conducted by EntreMed’s collaborator, Sherif Farag, M.D., Ph.D., and colleagues at the Indiana University School of Medicine. The results of the study were published in the on-line version of the British Journal of Haematology on June 15, 2010 and were scheduled to be published in print in the August 1.

Preclinical studies with ENMD-2076 demonstrated significant antitumor activity, including tumor regression, in multiple solid and hematological malignancies. ENMD-2076 has been shown to inhibit a distinct profile of angiogenic tyrosine kinase targets in addition to the Aurora A kinase. Aurora kinases are key regulators of mitosis (cell division), and are often over-expressed in human cancers.

Pacific Ethanol (PEIX) shares rally on strong Q2 results

Pacific Ethanol, Inc. (Nasdaq: PEIX) skyrocketed Tuesday as much as 42 percent from Monday’s closing price after the company reported second quarter financial results.
The company experienced an even-greater surge in share price at the end of June, rising nearly 60 percent, after announcing that four of its wholly-owned subsidiaries had emerged from bankruptcy.

For the three months ended June 30, Pacific Ethanol posted earnings of $107.8 million or $1.43 per share compared to a loss of $28.2 million or 49 cents per share in the same period last year. The boost in earnings was primarily due a non-cash gain of $119 million, and an 88 percent increase in total gallons sold, offset by a lower average price per gallon.

Net sales in the quarter increased 9 percent to $76.8 million, compared to $70.1 million in the same quarter a year ago. The company also reduced its SG&A expenses by 49 percent, and improved adjusted EBITDA by $8.4 million, compared to the second quarter of 2009.

In a statement regarding the “pivotal” second quarter, Pacific Ethanol’s Chief Executive Officer Neil Koehler said: “We delivered sales growth, dramatically reduced operating expenses, and improved adjusted EBITDA. We successfully led the production facilities out of bankruptcy effective June 29th, substantially reducing our debt and other liabilities by $295 million. During the quarter, we also reduced other debt by $9 million. In addition to strengthening our balance sheet, we reduced selling, general and administrative expenses to less than half of what they were for the same quarter last year, thus establishing a stable platform for growth.”

At the end of June, Pacific Ethanol’s wholly-owned plant holding company, PEH, and its four plant subsidiaries exited bankruptcy, and ownership of PEH was transferred to certain lenders. As a result, PEI recorded a $119.4 million non-cash gain from the disposition of liabilities of $294.5 million net of assets of $175.1 million that were removed from its balance sheet. Simultaneously, PEI began operating under its newly announced operating and marketing agreements with the ethanol production facilities upon their emergence from bankruptcy.

Alphatrade (APTD) shares gain momentum as company expects ‘positive’ Q2

Alphatrade.com (OTCBB: APTD) share prices have been gaining momentum in recent weeks, opening Tuesday more than 60 percent above Monday’s closing price. The Company, which specializes in internet marketing and financial tools, has been featured prominently in several penny stock newsletters and is hoping for a major breakout.

In a recent press release, the Company recognized its current, cash flow positive position, stating Alphatrade.com is preparing to report “a positive 2nd Quarter cash flow subsequent to positive 1st Quarter cash flow reported earlier this year.”

Alphatrade Chief Executive Officer Gordon Muir said in a statement: “Our growth can be described as proficient, we offer cost effective solutions to both corporate and retail users. In addition, it is our goal in these tough economic times, to offer dollar-for-dollar the best product in the market.”

Alphatrade’s revenues for the three months ended March 31, 2010 were $892,395, 49 percent lower than the $1,751,146 in revenue the company reported for the same period in 2009. The sharp drop was largely due to a 74 percent decline in advertising revenue, which shrunk to $263,001 in the quarter from $1,045,846 in the same period a year ago.

Despite the drop in revenue, Alphatrade managed to swing to a profit of of $62,692 for the three months ended March 31, 2010 compared to a loss of $310,179 for the three months ended March 31, 2009. The company also saw a 69 percent increase in revenue from sales of its E-Trax tool and web site development programs. Revenue from these products was $88,496 during the quarter ended March 31, 2010 compared to $52,442 for the same period in 2009.

AlphaTrade was incorporated in 1998 and currently has 16 employees committed to sales, marketing, customer service, programming, coding and general administration.

QuoteMedia, Ltd. (QMCI) and TMX Datalinx to jointly open trading on Toronto Stock Exchange tomorrow

To celebrate the recent appointment of QuoteMedia, Ltd. (OTCBB: QMCI) as the web solution provider for TMXMoney.com, Dave Shworan, CEO, QuoteMedia Ltd., and Eric Sinclair, President, TMX Datalinx and Group Head of Data Services, will jointly open trading on Toronto Stock Exchange tomorrow, Wednesday, August 11, 2010.

A leading provider of North American financial content, TMXMoney.com (TSX: X) provides desktop and mobile access to real-time stock market quotes, charts, news and research, a website that boasts 1.2 million unique visitors, and approximately 40 million page views per month. The addition of QuoteMedia as web solution provider means that QuoteMedia will be responsible for delivering, hosting and managing an array of custom solutions for the display of market data and research information including: detailed stock and mutual fund quotes, comprehensive news and company information, as well as interactive charting , commodities and futures, and other extensive financial and market information.

TMX Datalinx President Mr. Sinclair, commented, “Our decision to select QuoteMedia was based on their ability to provide a broad range and depth of information in a fully hosted managed solution. QuoteMedia worked hard alongside our web and data quality experts to meet our objectives and the exchange-level standards we set for this project, which involved a high degree of custom development work.”

Added QuoteMedia CEO Mr. Shworan, “TMX Group is an important and high profile institution in the global marketplace, and to be asked to develop, host and manage a custom solution for TMXmoney.com is very gratifying for us,” said Mr. Shworan. “The selection of QuoteMedia to be a service provider to TMX Group marks a milestone in our continuing evolution.”