Blue Sphere Corp. (BLSP) shares skyrocket on new line of credit

Blue Sphere Corp. (OTCBB: BLSP) shares traveled 18.3% higher to 14.9 cents, on announcing the signing of a $20,000,000 Equity Funding Facility with Centurion Private Equity, LLC. Volume for the stock was 13,300 shares in the final hour of Monday’s trading, compared to an all-day average of about 23,400.

A news release posted August 22 said that under the Equity Funding Facility, the Company may, at its discretion, periodically sell to Centurion shares of BLSP’s common stock at a price based upon a discount to the market price (as defined in the investment agreement) of the Company’s common stock.

Shlomi Palas, Blue Sphere’s Chief Executive Officer, was quoted thus in the release: “Thanks to the efforts of JSBarkats PLLC, our corporate securities attorneys and, specifically, Sunny J. Barkats, its founding partner, we were able to identify and secure this financing that allows the Company to access some liquidity to be used for developing and expanding our business.”

The Israel-based Blue Sphere develops projects for greenhouse gas emission reduction and renewable energy production. The Company intends to become a key player in the global carbon reduction market, helping enterprises with high pollution emissions achieve their green goals.

Helix Wind (HLXW) adds new member to board of directors

Helix Wind, Corp. (OTCBB: HLXW) announced today that the company had appointed Mr. Gene Hoffman to its Board of Directors, effective immediately. Share prices for the producer of clean and renewable wind energy have been climbing steadily for the past month, rapidly approaching $3.00 a share.

Hoffman has a long and impressive list of accomplishments prior to joining the Board. In 2003 he founded Vindicia, to address the need for on-demand subscription management solutions for online merchants, for which he still acts as the Chairman and Chief Executive Officer. Prior to 2003, Hoffman has been honored with the cover of Forbes Magazine as well as being named one of the 100 most influential entrepreneurs in technology in Upside Magazine’s November 2000 Elite 100. Furthermore, Hoffman holds a patent for his work with HTTP stream interception technology, and he has been a vocal and visable advocate for the distribution of music on the Internet.

Commenting on the addition of Hoffman to the Board, Scott Weinbrandt, Chairman and President of Helix Wind said, “One of our objectives is to build a strong management team and board of directors. The addition of Mr. Hoffman is a great step forward in this regard. We are extremely fortunate to have a person of his caliber on our team, as the knowledge and experience he brings will be of immense value to Helix Wind. We welcome and look forward to working with him as we execute on our business plan.”

Helix Wind, Corp focuses on renewable and clean energy, manufacturing and distributing small wind turbines designed to generate renewable electricity.