Northway Financial Corp. (NWYF) publishes Q2 numbers, shares jump
Posted on: July 28th, 2011Written by:
Northway Financial Corp. (OTCBB: NWYF) shares spiked 7.3% to $11.00, on the release of second-quarter results. Volume for the stock was a scant 3,300 shares, still trouncing an all-day average of only 242.
The company, based in Berlin, New Hampshire, announced in a news release July 28 that, for the quarter ended June 30, 2011, net income amounted to $2,605,000 compared to net income of $1,210,000 for the quarter ended June 30, 2010, an increase of $1,395,000.
Moreover, on July 27, the Board of Directors of the Company declared a semi-annual common stock cash dividend of $0.15 per share. This dividend is payable on August 15, 2011 to stockholders of record on August 8, 2011.
At June 30, 2011, the Company had total assets of $783,194,000 compared to $816,376,000 at June 30, 2010, a decrease of $33,182,000. Cash and due from banks and interest-bearing deposits decreased $18,162,000 to $46,993,000 at June 30, 2011 compared to $65,155,000 at June 30, 2010.
Northway Financial, Inc., is a bank holding company. Through its subsidiary bank, Northway Bank, the Company offers a broad range of financial products and services to individuals, businesses and the public sector from its 17 full-service banking offices.
mPhase Technologies, Inc. (XDSL) grows on LOI
Posted on: July 28th, 2011Written by:
mPhase Technologies, Inc. (OTCBB: XDSL) leaped in price 15.5% to 82-100ths of a cent Thursday, on word of a new acquisition for the company. Volume for the stock came in at 4.8 million shares, rapidly catching up on a daily average of around 9.2 million.
The company, based in Little Falls, New Jersey, issued a news release July 28 saying it had entered into a Letter of Intent (LOI) to acquire Energy Innovative Products, Inc. (EIP), a developer of proprietary technologies for reducing energy usage in refrigeration and cooling systems, as well as equipment utilizing AC induction motors.
EIP, based in Fairfield, New Jersey, uses patented and patent pending solutions to offer a series of products that control voltage and current used by compressor systems, including those in refrigeration decks, HVAC wall units, commercial refrigeration systems, and consumer equipment.
The release quoted mPhase CEO Ron Durando as saying, “we are extremely excited about the upside EIP offers to our organization over the coming years”.
The transaction is expected to become a Definitive Agreement in August, and close by October.
mPhase Technologies is introducing a revolutionary Smart Surface technology enabled by breakthroughs in nanotechnology, MEMS processing and microfluidics.
Garb Oil and Power Corp. (GARB) skyrockets on joint-venture pact
Posted on: July 27th, 2011Written by:
Garb Oil and Power Corp. (Pink Sheets: GARB) shares climbed 13.7% Wednesday to 58-100ths of a cent on word of a new joint venture involving construction of new plants. Volume for the stock proved to be 5.8 million shares, still short of its daily average of around 7.2 million.
The company, based in Salt Lake City, issued a news release July 27 announcing that it had formed a joint venture with Alabama-based ACG Consulting LLC (the “JV”) to build seven E-Waste recycling facilities within the next three years. It is planned that the first E-Waste recycling facility will break ground in South Florida in March 2012. Garb plans to break ground with a new E-Waste recycling facility every four months thereafter, at various sites in the U.S. as licenses, permits, and USCIS approvals are obtained.
The JV will be owned 51% by Garb and 49% by ACG Consulting LLC. Three E-Waste recycling facilities are planned for operation during the 2013 calendar year with four additional recycling facilities to come on line during the 2014 calendar year. It is expected that by end of 2015, the combined E-Waste recycling facilities will contribute an estimated $85,000,000 in revenues to the JV.
Garb Oil Power Corporation is dedicated to the application of ClosedCycle(TM) principle and NoWaste(TM) residue. Its plants for Rubber Recycling, E-Waste and E-Scrap Recycling, Waste to Energy and OTR processing plants are all developed with these principles in mind.
Clear Skies Solar Inc. (CSKH) leaps on new sales
Posted on: July 27th, 2011Written by:
Clear Skies Solar Inc. (OTCBB: CSKH) jumped 12.4% Wednesday to three cents, on word of sterling sales for June. Volume for the stock was 522,000 shares.
The Mineola, New York-based company, a full-service renewable energy provider to commercial, industrial and agricultural clients, announced in a July 27 news release it has reached over 1 megawatt or $4 million in customer signed contracts for the month of June.
With majority of its projects financed and the remainder are in the process of being financed, the company said it was looking forward optimistically to a healthy 2011 for Clear Skies Solar.
With a diversified portfolio of projects now under construction, Clear Skies announced it has recently completed the first installation under its new high-volume project management program. Clear Skies currently has approximately eight projects under construction at different stages varying in size from a residential four kilowatts to several commercial facilities of 160 kWs and 250 kWs respectively.
Clear Skies CEO Ezra Green was quoted in the release as saying, “The CSS process of execution is initially based on client financing with the installation dictated by engineering and product delivery. Our products are shipped from Asia, Canada and the United States with lead times up to four to six weeks which fits into the overall process of a project. With sales increasing and construction under way, we have been able to enter discussions with several non-dilutive sources of project and product funding.
“We recognize that discussing events is very important but we at CSS also owe it to the shareholders that the information being delivered is not premature and subject to any radical change.” Green concluded.
Greenshift Corp. (GERS) shoots higher on new patent news
Posted on: July 25th, 2011Written by:
Greenshift Corp. (OTCBB: GERS) doubled in price to two-100ths of a cent late Monday, on word the company had been awarded a new corn oil extraction patent. Volume for the stock topped 170 million shares.
The waste management company announced through a release dated July 25 that the U.S. Patent and Trademark Office (“USPTO”) has issued a notice of allowance for patent application number 11/241,231, titled “Method of Processing Ethanol Byproducts and Related Subsystems” (the “’231 Patent Application”).
To further strengthen its legal position, GreenShift requested that the USPTO withdraw an earlier notice of allowance for the ‘231 Patent Application in order to allow the USPTO to further examine the ‘231 Patent Application in light of all of the alleged prior art materials and invalidity arguments submitted by all of the defendants in GreenShift’s current patent infringement litigation, including those materials and arguments submitted in the litigation by ICM, Flottwegg, Westfalia, Cardinal Ethanol and Big River Resources.
Greenshift management was not available for comment.
GreenShift Corporation, based in Alpharetta, Georgia, develops and commercializes clean technologies that facilitate the more efficient use of natural resources.
Teletouch Communications Inc. (TLLE) vault on new contracts
Posted on: July 25th, 2011Written by:
Teletouch Communications Inc. (OTCBB: TLLE) shares galloped ahead 16.7% to 63 cents Monday, on word of two contracts with the state of Texas. Volume for the stock was nearly 7,000 shares, or roughly double its daily average.
A news release July 25 told investors of two multi-year statewide purchasing contracts awarded to Teletouch, along with a report on related current purchase orders received. The first announcement was the approval of Teletouch as the Texas Multiple Award Schedule (TXMAS) contract holder #TXMAS-11-84060 for a term of five years, initially providing public safety products from Whelen® Engineering Company, Inc. Participation for buyers in the TXMAS program is open to all cities and counties, as well as schools and school districts throughout the state of Texas.
The release went on to explain that TXMAS contracts are established as an alternative purchasing method by Texas Procurement and Support Services (TPASS). The TXMAS contracts are developed from and are related to contracts awarded by the federal government. As a result of the Company’s recent General Services Administration (GSA) multi-year contract award, Teletouch was accepted to the TXMAS program for its comprehensive product line of public safety, emergency vehicle lighting and siren equipment.
Teletouch CEO Kip Hyde was quoted in the same release as saying, “The recent awards of these two state purchasing contracts are significantly increasing sales in our public safety equipment division.”
Hyde continued, “Purchase Orders received midway through the first quarter of our current fiscal year 2012 have already exceeded last fiscal year’s total sales of $1.2 million. Our pipeline for the full fiscal year (ending May 2012) appears strong and the division’s sales could have total sales of $6 – $8 million.”
For over 46 years, Teletouch, based in Fort Worth, has offered a comprehensive suite of wireless telecommunications solutions, including cellular, two-way radio, GPS-telemetry and wireless messaging.
