Beach Business Bank (BBBC) stock jumps on takeover
Posted on: August 31st, 2011Written by:
Beach Business Bank (OTCBB: BBBC) shares vaulted 45% Wednesday to $8.60, on word it was a takeover target. Volume for the stock approached 80,000 shares by noon ET.
A news release out August 31 mentioned that First PacTrust Bancorp (NASDAQ: FPTB), the holding company for Pacific Trust Bank, and Manhattan Beach, California-based Beach Business Bank today jointly announced that they have entered into a definitive agreement pursuant to which Beach Business Bank will merge into a wholly owned subsidiary of First PacTrust.
The transaction is initially valued at approximately $37.4 million, or $9.07 per diluted share, to Beach Business Bank shareholders, representing a 53% premium relative to its most recent closing stock price. The FirstPacTrust and Beach Business Bank boards of directors have unanimously approved the transaction, which is expected to close in the first quarter of 2012.
Beach Business Bank CEO was Robert Franko quoted in the release, “This transaction is great news for Beach Business Bank shareholders, customers, employees and the communities we serve. By joining forces, our talented management team, along with our diversified business mix of commercial and industrial (C&I), commercial real estate, SBA and residential lending offerings, will result in a stronger bank with the capital strength and scale to continue to expand into new markets, offer attractive products to customers and enhance shareholder value.”
Headquartered in Manhattan Beach, California, with branches in Manhattan Beach, Long Beach, and Costa Mesa, and a loan production office in Torrance, Beach Business Bank provides a full range of deposit and loan services tailored to meet the needs of small to mid-sized businesses, professionals and individuals.
Location Based Technologies, Inc. (LBAS) soars on new Mexican contract
Posted on: August 30th, 2011Written by:
Location Based Technologies®, Inc. (OTCBB:LBAS) shares zoomed 6.9% to 83.4 cents late Monday, on news of a lucrative purchase order from Mexico. Volume for the stock totaled 1.2 million shares, surpassing a daily average of around 816,000.
A news release issued August 29 stated that the Irvine, Calif.-headquartered LBT, a leading-edge service provider of personal, pet and asset location devices, received a $1.2-million purchase order from Grupo Paramuen SA de C.V, a GPS solutions provider for the B2B mobile electronics market in Mexico. LBT will ship both the PocketFinder® Personal and Vehicle units to Grupo Paramuen before year end.
The release quoted LBT CEO Dave Morse as saying, “This purchase order establishes our initial push into the Latin American market. We are extremely excited about the opportunity that Mexico represents for us.”
Morse concluded, “We believe there is a tremendous need for our products and services in Mexico and South America, and partners like Grupo Paramuen will allow us to establish a significant presence abroad.”
Location Based Technologies®, Inc. designs and develops leading-edge personal locator devices and services that incorporate patented, proprietary technologies designed to enhance and enrich the way businesses and families interact globally.
Azure Dynamics Corporation (AZDDF) wins new order, shares leap
Posted on: August 29th, 2011Written by:
Azure Dynamics Corporation (OTCBB: AZDDF) shares hiked 22.7 % to 14 cents Monday, after announcing today that its Norwegian Ford dealership, RøhneSelmer, has signed an order for an additional 100 Transit Connect Electric vans. Volume for Azure was 79,500 shares, making up ground on a daily average of about 125,000.
A news release out August 29 reported that RøhneSelmer’s original order, in March of this year, was for 58 units for various clients, among them Norway Post, known in Norway as “Posten Norge AS”.
According to RhoneSelmer sales director Anders Gadsboll, “We’ve worked exclusively with Ford for more than 50 years and know that with Azure Dynamics’ technology, the Transit Connect Electric will meet the environmental requirements and tough weather conditions of the Norwegian market. We sold 50 Transit Connect Electric vans before the first unit was delivered to us and we’re confident we’ll sell many, many more the remainder of this year and beyond. It’s the right product for today’s Norwegian market.”
“Norway has a large customer base with a good understanding of and appreciation for electric vehicles, which RøhneSelmer obviously recognizes,” said Ricardo Espinosa, Managing Director of European Operations for Azure Dynamics. “The Transit Connect Electric can play an important role in the Norwegian market and help to achieve Norway’s aggressive environmental goals.”
Azure, located in Oak Park, Michigan, is a world leader in the development and production of hybrid electric and electric components and powertrain systems for commercial vehicles.
Xtreme Oil and Gas Incorporation (XTOG) basks in great drilling results, stock soars
Posted on: August 25th, 2011Written by:
Xtreme Oil and Gas Incorporation (OTCBB: XTOG) shares climbed 28.2% to 40 cents late Thursday, amid reports of excellent drilling results on its Texas property. Volume for the stock measured just over 13,000 shares.
A release out August 25 pointed to news that three new wells on the Company’s West Thrifty property in Brown County, Texas achieved a 50-90% oil cut on their initial production. An oil cut is the percentage of oil in the total fluids that are produced by the well. In addition, the Company completed acidizing all of the wells and have finalized the pressure calculations for injection in this project.
Xtreme CEO Willard G. McAndrew III was quoted in the same release as saying, “By using a targeted water-flooding methodology within our 1,200-acre Texas property, we expect to produce 50-100 barrels of oil per day from this project and there is room for an additional 60+ wells to be drilled or reworked.”
McAndrew continued, “We do not expect to maintain such high oil cut percentages when we are in full production, but these initial results are very encouraging. In addition, we are proceeding with reworking additional nearby wells to increase oil production on this project.”
Xtreme Oil & Gas, Inc. is a rapidly growing Dallas-based independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas with operations from properties it owns in Texas, Oklahoma, and Kansas.
B Green Innovations Inc. (BGNN) wins patent, shares hike
Posted on: August 25th, 2011Written by:
B Green Innovations Inc. (OTCBB: BGNN) shares traveled 57.1% higher Thursday morning to 11-100ths of a cent on word Wednesday of the awarding of a new patent. Volume for the stock totaled 300,000 shares.
A release dated August 24 showed that the company out of Matawan, New Jersey received notification of a patent allowance award for Embedded Recycled Container Sheet. B Green plans to license the technology or create products from the compressed flat composite recycled bottle sheets so as to retain the visible display of the of deformed identifiable bottles, such as cutting boards, baskets, kitchen gadgets, trays, bins, cases, book binders and flower pots.
The invention relates generally to a method of producing composite recycled bottle (also referred to as containers herein) sheets from recycled plastic containers embedded in plastics. This is the fourth B Green Innovations, Inc. patent to be issued.
“The grants of these patents are centrally important to B Green, Inc. not only to preserve its technology but also to leverage offensively in the marketplace,” the release quoted CEO Jerome Mahoney as saying.
The B Green Innovations, Inc. “Go Green” mission from its inception is to create a “Green” company for the development of solutions to eliminate waste from the world’s environment.
International Isotopes Inc. (INIS) climbs on transfer news
Posted on: August 24th, 2011Written by:
International Isotopes Inc. (OTCBB: INIS) shares climbed 16.7% late Wednesday morning to 10.5 cents on news of a property transfer involving one of its proposed plants. Volume for the stock was 27,600 shares.
A press release out August 24 noted that the company, based in Hobbs, New Mexico has completed the process for the receipt of property transferred from the State of New Mexico and Lea County to the Company. The Company now holds title to the property consisting of 640 acres located about 10 miles west of Hobbs, and about 25 miles from the URENCO USA enrichment facility in Eunice, N.M.
The planned INIS de-conversion facility is expected to occupy approximately 40 acres near the center of this property. The Company plans to use the remaining property as a buffer zone for future expansion and for the potential co-location of prospective customer facilities utilizing the fluoride products produced from de-conversion and fluorine extraction.
The property was originally offered to INIS as part of an incentives package prepared by the Economic Development Corporation of Lea County.
In the same release, INIS CEO Steve Laflin said, “We are extremely pleased with the successful completion of this property transfer and look forward to the start of site development and construction activities. The land transfer process was complex and required a lot of hard work and diligence on the part of many individuals at the state and county level.
“INIS wants to express our appreciation to the numerous individuals, organizations, and municipalities that contributed to seeing this transfer process through to completion. This is a significant step forward in our plans to construct the nation’s first ‘green technology’, commercial depleted uranium de-conversion facility in Lea County.”
International Isotopes Inc. manufactures a full range of nuclear medicine calibration and reference standards, high purity fluoride gases, and a variety of cobalt-60 products such as teletherapy sources.
