FEATURED COMPANY

ANGSTROM MICROSYSTEMS CORPORATION (OTCBB: AGMS)

Detailed Quote: www.otcpicks.com/quotes/AGMS.php

Company Profile:
http://www.otcpicks.com/angstrom-microsystems/angstrom-microsystems.htm

Angstrom Microsystems is one of the top Green computing companies, providing technology solutions ranging from liquid-cooled blades to acceleration software in order to help reduce the power requirements of datacenters. Its customers include Rhythm & Hues, Fox Films, Tippett Studios and the National Institutes of Health. Angstrom has earned a reputation for quality, service, and engineering innovation in the AMD Opteron processor-based system market. See Angstrom Microsystems in the end credits of Blue Sky Studios' "Ice Age: The Meltdown."

AGMS News:

August 27 - Gartner Research Says Global Server Shipments Grew 12% in Q2, 2008

Angstrom Is Aggressively Pursuing Server Market Share

Angstrom Microsystems Corp. (OTCBB: AGMS) is leading the market in "Green Computing" solutions. Angstrom is focused on providing "Green Computing" solutions to help clients reduce their carbon footprint while saving energy and saving them money over traditional computing solutions.

According to Gartner, Inc., "Worldwide server shipments for the second quarter of 2008 increased 12.2 percent over the same quarter last year, while worldwide server revenue for the same period climbed 5.7 percent. Worldwide server revenue totaled $13.8 billion for the second quarter, as worldwide servers shipments reached 2.3 million units."

"In spite of economic constraints in some markets like the United States, on a worldwide basis, servers continued to grow in the second quarter of the year," said Jeffrey Hewitt, research Vice President at Gartner. "The most significant driver in the quarter continued to be an upswing in x86 server replacements that started in the first quarter. This, coupled with Web data center build outs and growth in emerging markets, produced solid Q2 results."

Lalit Jain, CEO of Angstrom Microsystems, said, "We have some solid companies in the blade server market competing against the likes of HP, Dell and IBM. We are, however, differentiating ourselves from our competition through our use of energy saving technologies, energy efficient Quad-Core AMD Opteron™ processor-based blade servers, and our unique software acceleration libraries." Mr. Jain adds, "At the end of the day Angstrom can do it better, faster and cheaper than our large competitors in the market. Just 1% of the global market would represent 23,000 units per quarter. I think we are competitively positioned with our software and hardware technologies to go after a decent sized piece of the blade server market. While the overall economy is struggling, the server market is growing and we like our chances in gaining market share against our major market competitors."

FEATURED COMPANY

INDUSTRIAL BIOTECHNOLOGY CORPORATION (OTC: IBOT)

Detailed Quote: http://www.otcpicks.com/quotes/IBOT.php

Company Profile:
http://www.otcpicks.com/industrial-biotech/industrial-biotech-2.htm

Industrial Biotechnology Corporation, (IBC) provides products, services and technologies using renewable resources as an alternative to petroleum and traditional manufacturing methods. IBC production processes are eco-efficient and apply and adhere to sustainable practices and standards. IBC accomplishes this with the ALCHEMx Production Platforms™, which integrates technologies, sustainable manufacturing, and distribution with supply chain partners to meet customer needs and pricing requirements. IBC utilizes sugarcane based ethanol which is considered the leading cost efficient, energy balanced and environmentally sustainable feedstock source, when compared to petroleum and other alternative fuels.

IBOT News:

August 27 - Industrial Biotechnology Corporation Announces VP of Investor and Public Relations

Company Highlighted in BIOMASS Magazine

Industrial Biotechnology Corporation (OTC: IBOT) (IBC) announced the appointment of Craig McClure as VP of Investor and Public Relations. Mr. McClure has over 20 years in the investment services industry working as a licensed professional with companies such as Wachovia Securities, Aegon NV and LaSalle St. Securities.

“I am very pleased to join Industrial Biotechnology Corporation. Economic conditions, environmental concerns and the efficient use of the planet's food resources have placed sugar cane based ethanol at the forefront of efficient petroleum alternatives. Our current coverage in BIOMASS Magazine is indicative of the Industry interest we are receiving. Eco-efficient sugarcane ethanol used as both a petrochemical and fuel alternative makes the most sense economically and for the environment,“ said Craig McClure, IBC VP of Investor and Public Relations.

BIOMASS Magazine is produced by BBI Media, the world leader in biofuels/biomass industry publishing. They also publish Ethanol Producer Magazine and Biodiesel Magazine as well as offering an ever expanding line of online services. A copy of the article can be viewed here: BIOMASS Magazine September, 2008.

FEATURED COMPANY

SPONGETECH DELIVERY SYSTEMS (OTCBB: SPNG)

Detailed Quote: http://www.otcpicks.com/quotes/SPNG.php

Company Profile: http://www.otcpicks.com/spongetech/spongetech.htm

SpongeTech Delivery Systems is a development stage company which designs, produces, markets and distributes cleaning products for vehicular use utilizing patented technology relating to sponges containing hydrophilic (liquid absorbing) foam polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, which is loaded with specially formulated soaps and wax that are released when the sponge is applied to a surface with minimal pressure. The Company's products are currently designed specifically for vehicular cleaning use. However, the Company is exploring the possibility of using its patented technology for the development of sponges for other uses, including for use with anti-bacterial, bath and kitchen soaps for household uses, as well as for use as a children's bath foam sponge.

SPNG News:

August 26 - SpongeTech® Delivery Systems, Inc. Sponsored Darryl Strawberry Foundation's 2nd Annual Charity Golf Classic

Sports Greats and Celebrities Take a Swing Against Developmental Disorder to Support Foundation for Children and Families Affected by Autism

SpongeTech Delivery Systems, Inc. (OTCBB: SPNG) (www.spongetech.com) a company which designs, produces, and markets innovative, cost-effective, and environmentally sensitive packaging and product delivery solutions through its exclusive patented packaging technology, sponsored the Darryl Strawberry Foundation Golf Outing for Children and Families Affected by Autism on Monday, August 25th at the Bethpage State Park in Farmingdale, New York.

Among the sports greats in attendance were: Carl Banks, Sam Rosen, John Starks, Willie Upshaw, Ozzie Smith, Ray Lucas, Curtis McGriff, Bruce Harper, and Ron Darling, among others.

SpongeTech has a partnership with the Darryl Strawberry Foundation whereby the Company has committed to donate a percentage of its children's bath sponge, Puddle Pals, revenues to the Darryl Strawberry Foundation. Puddle Pals is a baby bath toy filled with hypoallergenic soap, with each sponge capable of up to eight washes.

"We were pleased to be a part of an event to support such an important cause," said Steven Moskowitz, COO of SpongeTech. "We believe our technologies have great potential to grow in popularity as we continue to market and promote SpongeTech's products. We look forward to continuing to support this foundation and to participate in other marketing opportunities as our company remains on track for future growth."

FEATURED COMPANY

CELEBDIRECT INCORPORATED (OTC: CELI)

Detailed Quote: http://www.otcpicks.com/quotes/CELI.php

Company Profile: http://www.otcpicks.com/celebdirect/celebdirect-2.htm

CelebDirect's primary business is that of a direct response celebrity incubator and has two divisions which are direct response marketing and Celebrity placement / franchise opportunities. CelebDirect brings to the market unique and innovative products via direct to market strategies such as infomercials, advertorials and other associated advertising vehicles to expeditiously, economically and broadly market products throughout North American as well as a global basis. CelebDirect has a number of consumer-oriented products it is evaluating and others it is currently bringing to market.

CELI News:

August 26 - CelebDirect Releases a New Corporate Flash Profile and Audio Interview with CEO Danny Alex Featured on Smallcapengine.com

CelebDirect (OTC: CELI) has announced that it is using Smallcapengine.com (www.Smallcapengine.com) to help with its marketing efforts via this new informative Flash Presentation/Profile/Audio Interview. The profile can be viewed in this link:

http://smallcapengine.com/company_profiles_view.aspx?id=143

FEATURED COMPANY

PURIO INCORPORATED (OTCBB: PURO)
"Up 5.56% in morning trading"

Detailed Quote: http://www.otcpicks.com/quotes/PURO.php

Company Profile: http://www.otcpicks.com/purio/purio.htm

Purio Inc. owns proprietary water clarification technology suitable to a broad number of applications including the clarification of surface water, industrial process water and sewage. Purio intends to apply its technology initially to industrial and commercial applications to reclaim water and reduce the need for fresh water in such applications. Purio further intends to use its proprietary technology to produce potable water for commercial and residential use. Purio will commercialize its technology via a number of channels, namely licensing strategic partners to build and sell and/or operate units outside of North America, outright sale of their second generation (patent pending) units to end users and will build, own and operate on a fee for service basis their larger permanent installation units in North America. Purio is based in Blaine, Washington.

PURO News:

August 11 - Purio Inc. Provides Update on Mobile Water Treatment Demonstration and Initial Testing

Purio Inc. (OTCBB: PURO) Purio Inc. is pleased to announce that its drinking water clarification/purification demonstration taking place in the prairie province of Saskatchewan Canada has produced very satisfying in-house product water analysis and that product water samples from a series of test ports strategically positioned on the machine will be obtained during routine operation of the equipment and submitted to an accredited independent lab early in this week.

Leonard Girard, Chief Science Officer for Purio Inc. says, "Purio has operated the down-scaled model of our patented technology using a variety of water samples and that exercise has proven the unit's ability to produce fresh, clear, safe drinking water from contaminated and unsafe sources. Our next step is to prove the results in a recognized and accepted format which is only possible through an independent recognized lab."

"As a further demonstration of the unit's ability, around mid-week, we are preparing to move the unit to a new location at a shallow lake near a recreational resort village to show the transportability of the unit, and its ability to produce safe water from a variety of sources," Girard comments. "We will also be ordering and reporting on a complete battery of lab analysis on that operation as well."

Earl Switenky, spokesman for Purio Inc. says, "Because our technology clarifies water without the use of membranes, we have captured the attention of interested parties from around the world. Some have admitted their skepticism that they don't believe that our claims are possible. Through our operations and testing through this week, and the following accredited lab reports, we intend to make believers out of even the most discriminating observers. The economical processing methods we use may open doors of possibilities for thirsty communities and companies around the world who simply won't accept unsafe drinking water any longer."

FEATURED COMPANY

U.S. MINE MAKERS INCORPORATED (OTC: USMM)

Detailed Quote: http://www.otcpicks.com/quotes/USMM.php

Company Profile:
http://www.otcpicks.com/us-mine-makers/us-mine-makers-2.htm

U.S. Mine Makers, Inc. is a US-based company engaged in "eco friendly" mining and processing of precious metals in Idaho, Nevada and Canada. The Company processes ore concentrate and hard rock ore to recover residual gold, platinum, rhodium and other precious metals from waste rocks of old abandoned mines. The Company`s goal is to process ore in a safe and economical manner, with little or no environmental impact.

USMM News:

August 4 - U.S. Mine Makers Goes 'Green' With Their Gold Recovery Process

U.S. Mine Makers, Inc. (OTC: USMM) prides itself as “eco-friendly,” and this company model is evident in the gold and platinum recovery process they have developed and are implementing in their new pilot plant. The company's new pilot plant and their future full-scale production plant are being designed to be much more environmentally friendly than gold processing plants that have traditionally used highly toxic forms of Cyanide to leach the gold from the ore. USMM has developed and tested a process that uses Sodium Bromide in place of Sodium Cyanide resulting in much more “eco-friendly” waste byproducts in their recovery process.

For years, mining and ore processing companies have been recovering gold and other precious metals using a Sodium Cyanide leaching process. The vast majority of gold mining companies have used this environmentally damaging process. Milling and heap leaching require cycling of millions of liters of alkaline water containing high concentrations of potentially toxic NaCN, free cyanide, and metal cyanide complexes that are frequently accessible and hazardous to wildlife. Some countries such as Argentina are starting to outlaw the use of Cyanide in gold and precious metal processing and the environmental impact is being investigated by other countries and environmental agencies as well.

The leach process that USMM is using utilizes Sodium Bromide (NaBR). Sodium Bromide and other waste byproducts in USMM's recovery process present a very low environmental hazard, and USMM's research has proven Sodium Bromide to be an effective and efficient catalyst in their metal leaching process.

U.S. Mine Makers CEO Ronald Bell stated, “Since our company's inception we have been committed to the use of environmentally friendly business practices and processes. For years we have been involved in the remediation and restoration of toxic mine sites, and now we are extending our 'eco-friendly' and 'Green' philosophy to our gold and platinum metals recovery process. We are committed to creating value for our shareholder in everything we do, but we also want to create that value in a sustainable and 'eco-friendly' way.”

STOCKS TO WATCH

BIOFUEL ENERGY CORPORATION (NASDAQ: BIOF)
"Up 22.69% in morning trading"

Detailed Quote: http://www.otcpicks.com/quotes/BIOF.php

BioFuel Energy Corp. engages in the production of ethanol in the United States. It has two ethanol plants that produce 115 million gallons per year, which are located in Wood River, Nebraska and Fairmont, Minnesota. The company was founded in 2006 and is headquartered in Denver, Colorado.

BIOF News:

August 29 - BioFuel Announces Amendment to Credit Agreement

BioFuel Energy Corp. (Nasdaq: BIOF) announced that its operating subsidiaries, which own and operate the Wood River and Fairmont ethanol plants, had amended their credit agreement. The amendment permits the subsidiaries' full access to their $20 million working capital facility and permits daily access to their revenue account, in each case solely for the purchase of corn, natural gas, chemicals, enzymes, denaturant and electricity. Previously, the subsidiaries had access to only $5 million of their working capital line and the ability to disburse their revenues only at the end of each month. As a result, the operating subsidiaries now appear to have sufficient liquidity to complete the commissioning of the ethanol plants. The Company's plants began commercial operations in June. They are expected to complete initial performance testing within the next two to three weeks.

The Company indicated that the amendment will not permit it to completely meet its obligations to Cargill incurred in delivering corn to the operating subsidiaries and as a result of the parent company's hedging over the past two months. As previously reported, the Company engaged in a series of hedging transactions with Cargill that resulted in significant losses. All such hedging transactions have now been closed out. At August 27, 2008, the Company had approximately $36 million of realized hedging losses. In addition, it held short term corn delivery obligations which incorporated a further $3 million of unrealized losses. Cargill has not yet been paid for approximately $22 million of these amounts. The parent company currently does not have sufficient liquidity to retire these obligations. The operating subsidiaries have received approximately $25 million of parent company corn inventory that it has not been reimbursed for. Under the bank agreement, as amended, such reimbursement cannot currently be made. The Company indicated that it intends to continue to review possible solutions with Cargill and its operating subsidiaries' lenders. However, there can be no assurances that these efforts will prove successful.

GULF UNITED ENERGY INCORPORATED (OTCBB: GLFE)
"Up 66.67% in morning trading"

Detailed Quote: http://www.otcpicks.com/quotes/GLFE.php

Gulf United Energy, Inc., a development stage company, engages in developing and participating in upstream and downstream oil and gas projects. It has joint venture interests in a natural gas pipeline project, and a liquefied natural gas regasification and storage facility in Mexico. The company was founded in 2003. It was formerly known as Stonechurch, Inc. and changed its name to Gulf United Energy, Inc. in 2006. Gulf United Energy is based in Houston, Texas.

GLFE News:

August 29 - Gulf United Energy Pipeline Environmental Risk and Environmental Impact Permits Issued

Gulf United Energy (OTCBB: GLFE) reported that it has been advised that the Environmental Risk and Environmental Impact Permits have been issued for the previously announced natural gas pipeline project on the Yucatan Peninsula. Gulf United’s interests are held by its 24 percent owned subsidiary Fermaca Gas de Cancun, S.A. de C.V., through its 50 percent interest in Energia YAAX, S.A. de C.V. The Pipeline project was contemplated in the Company’s previously announced transaction with Cia. Mexicana de Gas Natural, S.A. de C.V. (MGN) establishing the joint venture companies for the Pipeline as well as the previously announced LNG Re-Gasification Facility Project. The granting of the Environmental Permits by the Environmental Authorities significantly strengthens the position of MGN and moves the company closer to constructing and operating this much needed gas distribution pipeline to the Yucatan Peninsula.

The Pipeline is currently proposed to be a 16 inch diameter, 234 km bi-directional line with a capacity to transport approximately 183 million cubic feet per day of gas either from the existing Mayacan pipeline, owned by Gaz de France, or from the proposed LNG re-gasification facility. Engineering is underway to increase the diameter of the line to accommodate up to 500 million cubic feet per day, should this be a requirement. Upon the completion of the Pipeline and the LNG re-gasification facility, gas may be transported to desired locations in the cities of Valladolid, Cancun, Nizuc, and Merida as well as being a net provider of gas back into the Mayacan pipeline.

MGN has advised Gulf United that the estimated cost to complete the Pipeline project is US$140 million and that the estimated cost to complete the LNG project is US$500 million. A significant portion of the financing has been secured, with additional funds expected to come from a combination of equity and project based debt financing.

Don Wilson, President of Gulf United comments, “We are very pleased that our joint venture companies with our Mexican partners have now been granted these very important Environmental Permits as this validates the extensive work and effort expended by MGN. The permits give us a clear advantage to bring these projects to the Yucatan Peninsula which is forecasted to be one of the fastest growing regions in Mexico. As the pipeline and LNG projects continue to develop, we expect the incremental value of our interest to increase, thus being accretive to our investment. We also continue to evaluate possible oil and gas exploration opportunities in the US and abroad in an effort to position the company in both active drilling programs and high-impact opportunities.”

SOUTHRIDGE ENTERPRISES INCORPORATED (OTCBB: SRDG)
"Up 40.00% in morning trading"

Detailed Quote: http://www.otcpicks.com/quotes/SRDG.php

Southridge Enterprises is a renewable energy company with a mission to become the ethanol producer of choice. The Company is focusing its efforts in an area which offers abundant supplies of corn, superior transportation infrastructure and expedited permitting processes. The Company is actively acquiring and developing ethanol production facilities and anticipates start-up of the first phase of these operations in 2009. Southridge Enterprises is headquartered in Dallas, Texas.

SRDG News:

August 25 - Southridge Receives $7.5 Million for Brazil Ethanol Plant

Southridge Enterprises, Inc. (OTCBB: SRDG) (the "Company") announced that the Company's subsidiary, Southridge Brasilia Corp. ("SBC"), has received a total of $7,500,000 from its project partners for the construction of the ethanol facility in Brazil.

Southridge director, Mr. Marcio Santos, has been working closely with our Brazilian partners Durmundo Carasca SA (DCSA) and Briskul Transaccao LTDA (BTL) in the development of the Company's plant in Brazil. DCSA has now completed their $5,000,000 contribution for their 15% interest in the new facility. In addition, BTL has exercised their option to increase their position in SBC for an additional $3,270,000, bringing their total interest to 35%.

The ethanol industry in the United States is facing diminishing profit margins that have put many viable and well-funded projects in an increasingly difficult position to continue operations. Due to the high commodity prices for corn and natural gas in United States, Southridge management has decided to put both the Mississippi and Texas ethanol plants on hold until market conditions improve the viability of these projects. As a result, the Company has refocused and accelerated the development of the El Salvador and Brazil plants, as well as increased the revenue from our ethanol sales efforts.

Dallas-based Southridge is developing ethanol plants in El Salvador and Brazil.

JAMBA INCORPORATED (NASDAQ: JMBA)
"Up 22.24% in morning trading"

Detailed Quote: http://www.otcpicks.com/quotes/JMBA.php

Jamba, Inc., through its subsidiary, Jamba Juice Company, owns and franchises Jamba Juice stores. The company operates as a retailer of blended-to-order fruit smoothies, squeezed-to-order juices, blended beverages, and snacks in the United States. As of January 1, 2008, it operated 707 stores comprising 501 company-owned stores and 206 franchisee-owned stores. The company was founded in 1990 and is headquartered in Emeryville, California.

JMBA News:

August 28 - Nestle USA and Jamba Announce Early Success with Ready-to-Drink Beverages

Jamba® Ready-to-Drink Exceeds Expectations in Eight Western States

Nestlé USA, part of Nestlé, S.A., the world’s largest food and beverage company, and Jamba Inc. (Nasdaq: JMBA), the leading blender of fruit and other naturally healthy ingredients, announced the early success of the Jamba® ready-to-drink beverages in eight Western U.S. states. Since its launch in May, Jamba® ready-to-drink beverages have captured a significant share of the premium juice segment, exceeding initial expectations.

Jamba Smoothies and Jamba Juicies are available in hundreds of locations, including major grocery retailers and convenience stores in California, Oregon, Utah, Nevada, Arizona, Idaho, Washington and Colorado. Retail accounts include Safeway, Albertsons, Ralph’s, 7-Eleven, Raley’s, and Walgreens, among others.

“We are thrilled at the success of the Jamba ready-to-drink beverages, which have surpassed our initial sales expectations,” said Steve Presley, vice president, general manager premium ready-to-drink, Nestlé Beverage Division.

Nestlé is supporting the launch of Jamba RTD with significant product sampling, on-line activity, consumer outreach public relations and in-store promotions. In addition, television ads for Jamba RTD began airing in June in both San Francisco and Portland.

“The initial success of the ready-to-drink product demonstrates the power and strength of the Jamba brand outside the four walls of our retail stores, in California as well as less mature Jamba markets such as Portland,” said Paul Coletta, chief marketing and brand officer at Jamba. “In just a few months, Jamba ready-to-drink has exceeded our expectations for initial sales. Based on this, we see tremendous opportunity for the product as we continue to execute upon our plan to make Jamba Juice available to our customers 24/7.”

The 2008 Jamba ready-to-drink product line includes six SKUs: three Jamba Smoothies, named Strawberries Wild w/Energy Boost, Orange Dream Machine w/Immunity, Banana Berry w/Heart Healthy Boost; and, three Jamba Juicies named Orange Strawberry Banana w/Protein Boost, Mango Orange Peach w/Fiber Boost, Very Berry w/Calcium Boost.

ABOUT NESTLÉ USA

Named one of “America’s Most Admired Food Companies” in Fortune magazine for the eleventh consecutive year, Nestlé USA provides quality brands and products that bring flavor to life every day. From nutritious meals with LEAN CUISINE® to baking traditions with NESTLÉ® TOLL HOUSE®, Nestlé USA makes delicious, convenient, and nutritious food and beverage products that enrich the very experience of life itself. That’s what “Nestlé. Good Food, Good Life” is all about. Nestlé USA, with 2007 sales of $8.25 billion, is part of Nestlé S.A. in Vevey, Switzerland — the world’s largest food company — with sales of $90 billion.

PINNACLE ENERGY CORPORATION (OTCBB: PENC)
"Up 23.29% in morning trading"

Detailed Quote: http://www.otcpicks.com/quotes/PENC.php

Formerly named Gas Salvage Corp., Pinnacle Energy has recently completed a name change and a three-for-one forward stock split. The company now trades under the OTC symbol "PENC." All of the above-listed changes were made effective with FINRA on August 14, 2008. More information about these changes may be found in a FORM 8-K filed with the Securities and Exchange Commission on August 8, 2008. Pinnacle Energy Corp. is an independent oil and gas producer focused on acquiring and developing mature oil & gas producing assets. Pinnacle Energy Corp. is headquartered at 333 River Front Ave., Suite 153, Calgary, Alberta, T2G 5R1, Canada and can be contacted at (866) 822-0325.

PENC News:

August 29 - Pinnacle Energy Corp. Acquires Six Oil & Gas Producing Wells

Pinnacle Energy Corp. (OTCBB: PENC), an independent oil and gas producer, announced that it has acquired working interests in six wells located in Pawnee County, Oklahoma, USA. Five of the six wells produce high gravity light sweet crude oil, and the sixth is a saltwater disposal well.

As of August 27, 2008, the five oil wells are producing 20 barrels of oil per day, and 30 MCF (30,000 cubic feet) of gas per day, net to the Company’s interest. Acquisition cost for the wells was $1,000,000 USD, and Pinnacle Energy has a 25.5% working interest (20.4% net revenue interest) in two wells, a 20% working interest (16% net revenue interest) in three wells, and a 17% working interest (13.6% net revenue interest) in the remaining well.

“Current production and reserve reports suggest that the Glencoe field in Pawnee County, Oklahoma has excellent long-term development potential,” said Pinnacle Energy CEO Nolan Weir. “We look forward to developing the field to its fullest potential in the very near future.”

OVERLAND STORAGE INCORPORATED (NASDAQ: OVRL)
"Up 18.75% in morning trading"

Detailed Quote: http://www.otcpicks.com/quotes/OVRL.php

Overland Storage, Inc. delivers data protection solutions for backup and recovery systems worldwide. Its products include Nearline data protection appliances, which provide alternative to high-end network attached storage, and storage area network solutions; disk backup and recovery appliances that are configurable as virtual tape libraries, standalone virtual tape drives, and/or disk volumes; and data protection software, including embedded storage operating system software and add on software module programmable automation controllers, which provide data protection intelligence and advanced capabilities. The company also offers tape backup and archive solutions, such as automated tape libraries manage multiple data cartridges and provide unattended backup of data. In addition, Overland Storage, Inc. offers VR2 (Variable Rate Randomizer), the company's patented data encoding technology, which is embedded in an applications specific integrated circuit chip and is capable of increasing the native capacity and data transfer rate performance of linear tape technologies. The company markets its products through original equipment manufacturers, direct market resellers, commercial distributors, and value-added resellers principally to small and midsize businesses, multinational corporations, governmental organizations, universities, and other non-profit institutions. Its products are used in various industry sectors, including financial services, healthcare, retail, manufacturing, telecommunications, broadcasting, and research and development. The company was founded in 1980 as Overland Data, Inc. and changed its name to Overland Storage, Inc. in 2002. Overland Storage, Inc. is headquartered in San Diego, California.

OVRL News:

August 29 - Overland Storage Reduces Cost Structure

Renews Focus on Execution of End-to-End Data Protection Strategy

Overland Storage, Inc. (Nasdaq: OVRL) announced a reduction in its labor force and specific budgetary cuts, both designed to reduce operating costs.

The company reduced its worldwide workforce by approximately 13 percent, or by a total of 53 employees. Additionally, the company cut its spending plan for fiscal year 2009 across all departments and geographic areas. The company expects these cost-cutting measures to result in annualized savings of approximately $10 million.

"Over the past several quarters, we focused on revitalizing our sales force and were able to complete two small, but significant acquisitions," commented Vern LoForti, president and CEO of Overland Storage. "We are pleased that our branded sales force delivered sequential revenue growth of 63 percent in disk-based products in our most recent fiscal fourth quarter ended June 30, 2008, in comparison to the preceding fiscal third quarter ended March 31, 2008. Additionally, our recent acquisition of the Snap Server business facilitates our entry into the distributed NAS market, and initial customer response has been very positive. Based on its technology and brand recognition, we believe Snap holds significant potential for Overland's future. The Snap acquisition did, however, result in a substantial increase to our operating expense base. Having recognized the need to rationalize the newly combined business, we have examined all areas of the company in order to streamline and focus on the geographic regions and product initiatives that offer the most immediate return on investment. The actions we are announcing today are key to our primary goal -- a faster return to profitability, while continuing to deliver a balanced portfolio of end-to-end data protection solutions in a more efficient manner.

As part of this organizational consolidation and restructuring, Ravi Pendekanti, formerly vice president of worldwide marketing, has assumed additional responsibilities, and now is vice president of worldwide sales and marketing. Prior to joining Overland this spring, Pendekanti spearheaded global solutions sales and marketing for Silicon Graphics, Inc., a position that followed a lengthy tenure as a marketing executive at Sun Microsystems, Inc. Concurrent with these changes, Robert Farkaly, vice president of worldwide sales has left the company.

Overland has nearly completed the integration of the Snap business unit. Additionally, Overland continues to ramp its channel marketing efforts, with increased focus on new channel program initiatives designed to drive sales of Overland's REO SERIES, NEO SERIES, ARCvault, ULTAMUS RAID and Snap Server data protection solutions.

"Over the past 18 months, Overland has transitioned from OEM-focused to a channel-centric company," added LoForti. "The Snap acquisition enables us to offer our worldwide channel partners one of the broadest portfolios of end-to-end data protection solutions. We believe our unwavering commitment to this strategy will enable Overland to grow more rapidly throughout fiscal 2009 and beyond."

DELIA*S INCORPORATED (NASDAQ: DLIA)
"Up 23.78% in morning trading"

Detailed Quote: http://www.otcpicks.com/quotes/DLIA.php

dELiA*s, Inc. operates as a direct marketing and retail company in the United States. The company's dELiA*s brand develops, markets, and sells a collection of apparel, sleepwear, swimwear, room ware, footwear, outerwear, and key accessories for teenage girls. Its Alloy brand markets and sells branded junior apparel, accessories, swimwear, footwear, and outerwear for teenage girls. The company's CCS brand markets and sells apparel, footwear, skateboard, and snowboard products for teenage boys. dELiA*s also sells third party brands through its catalogs and the e-commerce Web pages. In addition, it operates dELiA*s retail stores that sell a range of lifestyle oriented apparel and accessories for teenage girls. The company sells its products through direct mail catalogs, Websites, and mall-based specialty retail stores. As of February 2, 2008, it operated 86 dELiA*s mall-based specialty retail stores. The company was founded in 1997 and is based in New York, New York.

DLIA News:

August 29 - dELiA*s, Inc. Announces Second Quarter Fiscal 2008 Results

* Revenues increase by 10.8%; comp store sales up 5.2%
* Operating margins improve by 200 basis points

dELiA*s, Inc. (Nasdaq: DLIA), a direct marketing and retail company comprised of three lifestyle brands primarily targeting consumers between the ages of 12 and 19, announced the results for the second quarter ended August 2, 2008.

Fiscal Second Quarter Results

Total revenue increased 10.8% to $58.1 million from $52.4 million in the second quarter of fiscal 2007 driven by increases in both segments, with a greater percentage increase in the retail segment. Revenue from the retail segment increased 22.0% to $23.6 million, or 40.6% of total revenue. Revenue from the direct segment increased 4.3% to $34.5 million, or 59.4% of total revenue.

Total gross margin increased to 35.3% in the second quarter of fiscal 2008 as compared to 34.6% in the second quarter of fiscal 2007. The increase was driven primarily by higher merchandise margins at dELiA*s Retail and dELiA*s Direct, reflecting improvements in initial mark-ups and full price selling. These improvements were partially offset by higher shipping costs in the direct segment.

Selling, general and administrative (SG&A) expenses were $25.3 million compared to $23.4 million in the second quarter of fiscal 2007. As a percentage of sales, SG&A improved to 43.4% of sales for the second quarter of fiscal 2008 from 44.7% of sales for the prior year’s quarter. The improvement in SG&A as a percentage of sales was primarily due to the Company’s ability to leverage selling and other operating expenses on increased sales. The operating loss for the quarter was thus reduced by $0.6 million, or by 200 basis points as a percentage of sales, compared to last year.

The net loss for the second quarter of fiscal 2008 was $5.0 million, or $0.16 per diluted share, as compared to a net loss of $5.1 million, or $0.16 per diluted share, in the second quarter of fiscal 2007, reflecting increased interest expense and a provision for income taxes in this quarter, compared to a tax benefit in last year’s results.

Robert Bernard, Chief Executive Officer, commented, “We are pleased with the progress we made in the second quarter. For the retail segment, we achieved positive comparable store sales growth and increased segment sales, driven by growth in our store base over the past year. For the direct segment, we achieved steady sales and margin growth, driven largely by the strong performance of our dELiA*s Direct brand.

“We are pleased with our important back-to-school selling period so far, with high single-digit comps in July and continued strength thus far in August,” Mr. Bernard continued. “We have said that back-to-school would mark an inflection point for the dELiA*s brand, and these results are indicative of why we are quite optimistic about our future. Early indications are that we are seeing a payback for the investments we made earlier in the year in merchandising, store operations, and inventory planning and allocation. We intend to continue to drive sales growth and margin improvement as we carefully manage our business through this challenging retail environment.”

Results by Segment

Retail Segment Results:

Total revenue for the retail segment increased 22.0% to $23.6 million from the second quarter of fiscal 2007. Retail comparable store sales increased 5.2% for the second quarter on top of an increase of 4.6% for the fiscal second quarter of 2007. Gross margin for the retail segment, which includes distribution, occupancy and merchandising costs, increased to 22.5% from 18.6% in the prior year period due to leverage of occupancy costs and improvement in product margins. SG&A expenses, which include allocated overhead, were $10.8 million, or 45.6% of sales, in the second quarter compared to $9.3 million, 48.1% of sales, in the prior year period, reflecting the leveraging of store selling expenses. The quarterly operating loss for the retail segment was reduced to $5.5 million compared with an operating loss of $5.7 million in the prior year period.

The Company opened two store locations and relocated one store during the second quarter of fiscal 2008. The Company ended the period with 94 stores.

Direct Segment Results:

Total revenue for the direct segment increased 4.3% to $34.5 million from the second quarter of fiscal 2007. Segment revenue growth was driven primarily by sales growth in the dELiA*s Direct brand. Gross margin for the direct segment increased to 44.1% from 43.9% in the prior year period due largely to improved product margins in each of our three brands, which more than offset the increase in shipping costs. SG&A expenses were $14.5 million, or 42.0% of sales, in the second quarter compared to $14.1 million, or 42.7% of sales, in the prior year period, reflecting targeted reductions in catalog circulation. Operating income for the direct segment improved to $0.7 million compared with operating income of $0.4 million in the prior year period.

First Six Months Results

Total revenue increased 10.4% to $121.7 million for the six-month period ended August 2, 2008 from $110.2 million in the prior year period. Total gross margin was 34.9% compared to 35.4% for the same period the prior year. SG&A expenses were $50.9 million, or 41.9% of sales, for the first six months of fiscal 2008 compared to $47.8 million, or 43.3% of sales, for the prior fiscal year period. Net loss was $8.9 million, or $0.29 per share, compared to a net loss of $8.4 million or $0.27 per share in the prior fiscal year period.