May 19 - BioSolar's Dr. Stan Levy Selected to Present Company's Breakthrough BioBacksheet™ Solar Cell Technology at Key Industry Meeting
Chief Technology Officer to Speak at SPIE, the Largest Optical Science and Technology Meeting in North America
BioSolar(TM), Inc. (OTCBB: BSRC), developer of a breakthrough technology to produce bio-based materials from renewable plant sources that reduce the cost of photovoltaic solar cells, announced that Dr. Stan Levy, the company's Chief Technology Officer, will present at the SPIE Symposium on Solar Applications and Energy conference on Tuesday, August 12, 2008 in San Diego, CA.
Dr. Levy will present findings from the company's technology development program, which led to BioSolar's breakthrough photovoltaic cell component, the BioBacksheet(TM). He will speak to thousands of engineers and researchers gathered for the SPIE symposium, the largest optical science and technology meeting in North America.
"Dr. Levy has spearheaded our technology development efforts, and in a highly efficient fashion, delivered a uniquely sophisticated product that has stimulated interest on the part of a significant number of major solar cell manufacturers," said Dr. David Lee, CEO of BioSolar. "The submissions panel at the SPIE Symposium on Solar Applications and Energy recognizes the unique nature of our new product and has asked Dr. Levy to deliver an oral presentation, rather than the more common poster presentation. This forum will allow Dr. Levy to discuss in detail the various scientific breakthroughs underlying our BioBacksheet(TM)."
BioSolar recently announced that the company has delivered BioBacksheet(TM) samples to a select group of solar cell manufacturers in multiple regions of the country. BioSolar also has received numerous requests for analysis samples from high-volume manufacturers, located in the U.S. and abroad.
"The high level of industry interest in our new product and Dr. Levy's invitation to speak at SPIE are tributes to the significance of his contributions to BioSolar and our shareholders," said Dr. Lee.
ABOUT SPIE
SPIE is an international membership society, serving scientists and engineers in industry, academia, and government, as well as companies producing leading-edge products. SPIE constituents work in a wide variety of fields that utilize some aspect of optics and photonics, which is the science and application of light. SPIE Optics+Photonics is the largest optical sciences and technology meeting in North America, including over 55 courses and workshops. The Solar Energy + Applications track of the conference is dedicated to finding ways to move toward secure, affordable, and environmentally sustainable energy to meet the world's accelerating energy needs. For more information, visit http://spie.org/solar-energy.xml.
In the report, the analyst writes, “Since our initial report in November 2007, CABN has announced an exciting new application for the Company’s CO2 transformation technology. Targeting the multi-billion dollar PCC production market should greatly enhance CABN’s visibility and provide a source of near-term revenues. We regard CABN as a long-term investment play whose value lies in its innovative technology and huge potential market. Both of these long-term growth drivers remain intact in 2008.”
May 16 - myPhotopipe.com Reports First Quarter Operating Results
Revenues Rise 26%, Gross Profit Margins Expand to 74%
myPhotopipe.com, Inc. (OTC: MPPC), a web-based online provider of digital photo processing and related services, announced its operating results for the first quarter of 2008.
For the three months ended March 31, 2008, revenues increased 26% to $366,329, compared with revenues of $289,869 in the first quarter of 2007. Gross profits increased 42% to $270,373 (73.8% of revenues), versus $189,864 (65.5% of revenues) in the prior-year quarter. The Company reported a net loss of ($73,705) in the most recent quarter, versus a net loss of ($15,753) in the three months ended March 31, 2007.
"myPhotopipe.com continued to post excellent gains in revenues during the most recent quarter, with an increase of 26% over prior-year levels," stated L. Douglas Keeney, Chief Executive Officer of the Company. "That said, a significant design initiative related to the overhaul of our web site made unexpectedly good progress in January, and we elected to accelerate its launch, which in turn necessitated a concurrent increase in our search engine buys. Accordingly, we realized a slightly higher loss for the period than we anticipated, but we have been extremely pleased with the initial results from the new web site, as measured in a sharp increase in customer acquisitions, excellent industry notices, and continued revenue growth during April."
"New product introductions continued at our historical pace, which by any measure is rapid and well accepted by the market. Our gallery wraps and mounted products have been well received by customers, as has our pioneering PRPrintsPro platform that is now being used by many professional sports organizations. myPhotopipe.com's portfolio of greeting cards, a significant vein of revenue that we intend to vigorously mine, has increased by several hundred SKUs since the beginning of the year. Our project to allow local stationery stores to access more than 600 photo greeting cards appears to be progressing towards a beta in the second quarter. And finally, our industry data couldn't be better. Owners of digital cameras are making prints at historically high and growing levels, and online ordering with direct mail delivery is the channel of fulfillment that is expanding significantly faster than retail, kiosks or any other method of purchasing prints."
"We're an online lab serving the needs of professional and serious amateur photographers," continued Keeney. "This is a segment not all of us understand, so allow me this final thought. According to a recent InfoTrends study, professional photographers are themselves a $5 billion industry. They shoot pictures and earn 80%+ of their mean annual revenues of $130,000 by selling photographic prints. What's our value proposition to them? In a nutshell it is as follows. Because they waited for high-end digital cameras, professional photographers were slower than the consumer to switch to digital technology. But now, the switch is underway in earnest. Ironically, at the very same time these photographers are 'going digital', more than half of their local camera stores, where they went for photo processing, have closed, so they are going online to find a new photo processor. What do they see? Photo mousepads and photo coffee mugs and photo t-shirts — all sorts of 'cute' ways to share your photos. That's not what professionals are looking for. They're searching for a lab that focuses on making a top notch, professional print at a price that is competitive to any lab in the nation. That's a description of myPhotopipe.com. That's our value proposition. Using our products our customers can make a living. That's a wonderful position to be in. We believe we're in the right place at the right time, serving a lucrative slice of the digital photography market during a period of extensive brand switching. With persistence and steadfastness, we will emerge as one of the top brands in the business."
May 15 -
Carbon Sciences, Inc. Files Quarterly Report with SEC
Net Loss Decreases By 33% for the Quarter
Carbon Sciences, Inc. (OTCBB: CABN), the developer of a breakthrough technology to transform harmful carbon dioxide (CO2) into high value, earth-friendly products, announced its results of operations for the quarter ended march 31, 2008 compared to the quarter ended march 31, 2007:
Selling and Marketing Expenses
Selling and Marketing ("S&M") expenses decreased by $142,888 or 48.85% to $149,638 for the three months ended March 31, 2008, compared to the period ended March 31, 2007. The decreased in S&M expenses was due primarily to a decrease in salaries.
General and Administrative Expenses
General and administrative ("G&A") expenses decreased by $2,854 or 6.86% to $38,767 for the three months ended March 31, 2008, compared to the period ended March 31, 2007. The decrease in G&A expenses was due primarily to a decrease in rent expense.
Research and Development
Research and Development ("R&D") costs increased by $41,258 or 4125.80% to $42,258 for the three months ended March 31, 2008, compared to the period ended March 31, 2007. The increase in R&D was the result of testing of product alternatives.
Net Loss
Net Loss for the three months ended March 31, 2008 was $226,315 compared to $337,547 for the period ended March 31, 2007. Currently the Company is in its development stage and had no revenues.
Liquidity and Capital Resources
As of March 31, 2008, we had $720,679 of working capital as compared to $942,782 as of December 31, 2007. This decrease of $222,103 was due primarily to the use of funds for operations, since the company is in the developmental stage and has no revenues.
Cash flow used in operating activities was $198,284 for three months ended March 31, 2008, as compared to cash used of $266,901 for the period ended March 31, 2007. This decrease of $68,617 was primarily attributable to an decrease in salaries.
Cash provided by investing activities was $191,441 for the three months ended March 31, 2008, as compared to cash used of $0 for the period ended March 31, 2007. The increase of cash provided by investing activities was primarily due to withdrawals from certificates of deposits for operating expenses.
Cash provided from financing activities during the three months ended March 31, 2008 and 2007 was $0 and $315,500 respectively. From inception to March 31, 2008, we received a total of $2,228,875 from the sale of shares of our common stock through private placements of shares of common stock pursuant to Subscription Agreements, which we entered into with accredited and/or institutional buyers.
PLAN OF OPERATION AND FINANCING NEEDS
We are developing a technology to transform harmful carbon dioxide (CO2) into high value, earth-friendly products. We call this technology GreenCarbon Technology. The Company's management believes that energy and CO2 intensive industries, such as paper production, will welcome this innovative clean technology because it offers two very important benefits — lower cost and carbon neutrality.
Our plan of operation within the next twelve months is to utilize our cash balances to continue research and development of our carbon transformation technology and complete a demonstrable prototype. We believe that our current cash and investment balances will be sufficient to support development activity and general and administrative expenses for the next twelve months. Management estimates that it will require additional cash resources during 2008, based upon its current operating plan and condition. There is no assurance that capital in any form would be available to us, and if available, on terms and conditions that are acceptable. If we are unable to obtain sufficient funds during the next twelve months, we may be forced to reduce the size of our organization, which could have a material adverse impact on, or cause us to curtail and/or cease, the development of our products.
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