USSU, BSRC, LLSR, MGRN, GNAU
CJGH, NCEY, TSSP, CYHA, ENCO, BLLN, TPCS, GYGC
Our Stocks to Watch today include USA Superior Energy Holdings Inc. (OTCBB: USSU), BioSolar Inc. (OTCBB: BSRC), Lantis Laser Inc. (OTC: LLSR), Monogram Energy Inc. (OTC: MGRN), General Automotive Co. (OTCBB: GNAU), China Jiangsu Golden Horse Steel Ball Inc. (OTC: CJGH), New Century Energy Corp. (OTCBB: NCEY), TrendSetter Solar Products Inc. (OTC: TSSP), Cyberhand Technologies International Inc. (OTC: CYHA), Encorium Group Inc. (NASDAQ: ENCO), Brilliant Technologies Corp. (OTC: BLLN), TechPrecision Corp. (OTCBB: TPCS) and Guyana Gold Corp. (OTC: GYGC).

FEATURED
COMPANY

USA SUPERIOR ENERGY (OTCBB: USSU)
Detailed
Quote: http://www.otcpicks.com/quotes/USSU.php
Company
Profile:
http://www.otcpicks.com/usa-superior-energy/usa-superior-energy-3.htm
USA Superior Energy Holdings, Inc., a development stage company, operates in the energy industry in the United States. The company, through its wholly owned subsidiary, USA Superior Energy, Inc., engages in the development, ownership, and operation of prospects and energy projects in East and Southeast Texas. It also focuses on using nitrogen technology to recharge and produce oil and gas from under-pressured partially depleted reservoirs. The company was founded in 2005 and is based in Houston, Texas.
USSU
News:
June 12 - USA Superior Energy Holdings Expanding Production in Bateman Field via the Edwards Formation
USA Superior Energy Holdings, Inc. (OTCBB: USSU) (Frankfurt: F2S.F) is positioning itself to expand production via the Edwards formation starting the first week in July 2008. Jerry Witte, Sr. Vice President Geology, has designed the program to enter the Nauert well #8. This is high on structure in the Bateman Field. It is cased hole to approximately 2,700'. The Edwards formation is a prolific production zone. It is identified as being just 500' below the Austin Caulk. The Edwards has an apparent 18' zone of which 11' could be a major producer. The production will be enhanced with the application of the horizontal stimulus unit.
The Nauert #8 is one of two wells that have been cased to the Edwards formation. There are approximate 200 acres of the Edwards zone in the Bateman Field.
June 11 - USA Superior Energy Holdings' Jerry Witte Requests Removal From Board of Directors Capacity to Advisory Board
Jerry Witte, Sr., VP Geology & Operations and Director of USA Superior Energy Holdings, Inc. (OTCBB: USSU) (Frankfurt: F2S.F), has requested that he be removed from his position on the Board of Directors. He will serve on the corporate Advisory Board. Jerry will remain in a very active capacity in the extended development of the Bateman Field and Zavalla Field. This request will be effective immediately.
FEATURED
COMPANY

BIOSOLAR INCORPORATED (OTC: BSRC)
"Up 5.41% in morning trading"
Detailed
Quote: http://www.otcpicks.com/quotes/BSRC.php
Company
Profile: http://www.otcpicks.com/biosolar/biosolar-2.htm
BioSolar, Inc. engages in the research and development of bioplastic materials from renewable plant sources for use in photovoltaic solar cells. The company develops bio-based plastics components that meet the thermal and durability requirements of solar cell manufacturing processes for conventional crystalline cell designs, as well as thin film photovoltaic devices in an effort to capitalize on cost advantages to current petroleum based solar cell components. Its bioplastic materials can be also used directly in conventional manufacturing systems, such as injection molding and thin-film roll-to-roll, to create superstrate layer, substrate layer, and backsheet, as well as module and panel components. The company was founded in April 2006. It was formerly known as BioSolar Labs, Inc. and changed its name to BioSolar, Inc. in June 2006. BioSolar, Inc. is headquartered in Santa Clarita, California.
BSRC
News:
June 11 - BioSolar Highlighted Nationally in Media Reports Focused on Growth of Solar Market and Company's Competitive Advantage
Company's BioBacksheet™ Causing Industry-Wide Interest in Shift to Petroleum-Free Components to Ensure that Entire Solar Industry Becomes Financially Sustainable
BioSolar™, 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, has been cited in recent news media reports exploring the increasing demand for bio-based solar cell components, which will help the entire industry make photovoltaic solar cells more financially viable by substantially lowering the cost of the cells through the use of petroleum-free materials.
In this week’s CLEANTECH column in energy trade publication California Energy Circuit, (CLEANTECH: Making Solar Power Fossil Free, June 6 2008 issue), energy correspondent William J. Kelly discusses the concept of life-cycle testing — utilizing the entire life-cycle of a product and its components to determine its total carbon footprint — noting that solar cells generate 0.04 kilograms of carbon dioxide per kilowatt of electricity generated.1 The article goes on to note that clean energy researchers see that level declining dramatically due to improvements in the materials used to make the solar cells.
“This article recognizes that BioSolar’s BioBacksheet™ is quickly becoming a driving force in a shift to replace plastic petroleum-based solar cell components with environmentally-friendlier fossil-free ones derived from plant-based products,” said Dr. David Lee, CEO of BioSolar. “This industry-wide trend is expected to continue accelerating as the cost benefits of bio-based products continue to far outperform petroleum-based products. Plus, by making solar cells fossil-free, we are also making the solar cell — and the entire solar industry — more financially sustainable. Products like the BioBacksheet™, among other new products from BioSolar, are helping the industry attain its long sought goal of weaning itself from governmental subsidies and achieving economic viability.”
BioSolar was also the subject of a piece in GreenTech Pastures, veteran newsman Harry Fuller’s column at ZDnet.com (http://blogs.zdnet.com/green/?p=1083). Noting that BioSolar’s “BioBacksheet” is made entirely of plant-based materials, Mr. Fuller’s article states that BioSolar has found a “way to really green solar: turning green plants into photovoltaics.”
The article also highlights another compelling business point: while other bio-based plastics are made from corn-starch or potato-starch derivatives, which are currently experiencing a surge in price, all of the plant-based materials used by BioSolar’s products are made from plants that are non-food based. This bodes well for the company’s pricing and market penetration strategy because BioSolar is more insulated from the negative effects of the recent run-up in food commodity pricing.
“This article is further evidence that we are succeeding in our mission to lead the industry both in terms of appealing to our customer base as well as industry influencers and that the products in our development pipeline are poised to experience the same rapid market acceptance in the multi-billion dollar photovoltaic market,” said Lee.
FEATURED
COMPANY

LANTIS LASER INCORPORATED (OTC: LLSR)
"Up 4.17% in morning trading"
Detailed
Quote: http://www.otcpicks.com/quotes/LLSR.php
Company
Profile: http://www.otcpicks.com/lantis-laser/lantis-laser-2.htm
Lantis Laser was formed to commercialize the application of novel technologies in the dental industry. The criteria for selected products include competitive edge, exclusivity and large market potential. Lantis is currently in Phase 2 development, moving through beta systems, product development and application for FDA clearance and plans to launch the OCT Dental Imaging System™ in the first quarter of 2009. Lantis has exclusive rights to the application of OCT technology in the field of dentistry under its license Agreements with Lawrence Livermore National Laboratory (exclusive); LightLab Imaging (non-exclusive) and AXSUN (exclusive). To find out more about Lantis Laser, visit www.lantislaser.com.
LLSR
News:
June 10 - Lantis Laser Commences Phase 3 Development of it's OCT Light-Based Dental Imaging System
Eclipse Product Development Selected for Design, Interface and Documentation Phase
Lantis Laser Inc. (OTC: LLSR) (www.lantislaser.com) announced that it has commenced Phase 3 of the development cycle of its proprietary, highly advanced Optical Coherence Tomography (OCT) Dental Imaging System™. The OCT System is a diagnostic light-based, chairside, system that images in real-time at a resolution of to 10 times x-ray and without any harmful radiation. It is expected to have a major impact on early diagnostics and the advancement of minimally invasive treatment once it is deployed in dental offices.
“Phase 3 development embodies a number of significant events in the evolution of OCT for dentistry,” said Stan Baron, president and CEO of Lantis. “The components of the OCT System that needed to be upgraded to meet the requirements of the fast scanning speed enabled by AXSUN Technologies swept source laser, are being readied for integration into the OCT Beta Systems. We expect to deploy the Beta Systems for clinical use in the July/August timeframe.”
Phase 3 of the product development cycle also requires that the OCT System’s mobile cart will be designed, that the user interface be refined and that documentation in preparation for the FDA filing be prepared. After an extensive review of product design companies, Lantis is pleased to announce that it has selected Eclipse Product Development to undertake this demanding task.
Vice President of Research and Development at Lantis, Doug Hamilton, commented, “OCT is not a modality that many companies have had experience with, so we looked for a company that had a solid industrial design core and the network to bring in the best available resources for each discipline that is deployed in the OCT System. Eclipse provides us with this development model and the flexibility we need to complete this Phase in an efficient and timely manner.”
“All the components leading to up to FDA submission, manufacturing and marketing are now being put into place,” said Baron. “We will be making regular announcements as we progress to keep the investment and dental community abreast of developments”.
ABOUT ECLIPSE PRODUCT DEVELOPMENT
Eclipse, located in Amesbury, MA has over 13 years of experience helping clients commercialize medical, laboratory and dental category technologies. The company is medically oriented and has designed numerous products including complex diagnostic and therapeutic medical and dental equipment and devices. Their development process meets FDA and ISO requirements for design control documentation and verification. Eclipse has developed a strategic business model to include several experienced molding and manufacturing vendor relationships.
FEATURED
COMPANY

MONOGRAM ENERGY INCORPORATED (OTC: MGRN)
"Up 23.08% in morning trading"
Detailed
Quote: http://www.otcpicks.com/quotes/MGRN.php
Company
Profile:
http://www.otcpicks.com/monogram-energy/monogram-energy.htm
Monogram Energy, Inc. is an independent energy company engaged in the acquisition, development, and exploitation of oil and gas properties. The company specializes in acquiring oil & gas leases with proven reserves that have the potential for increased production.
MGRN
News:
June 2 - Monogram Energy, Inc. Announces 50% Production Capability Increase in Corsicana, Texas
Monogram Energy, Inc. (OTC: MGRN), an independent energy company engaged in the acquisition, development, and exploitation of oil and gas properties, announced that the Company's six wells on the T.W. Martin lease are currently producing, and that the three additional wells in the workover process should be completed by the end of June.
The 9 total wells are then expected to produce 2 barrels per day each for a projected yield of 540 barrels per month. This workover progress represents a 50% increase from the May 13th release projections of 270 barrels per month based on production estimates on the initial 6 wells.
The T.W. Martin lease comprises 70 acres with 12 wells and is located in Navarro County, Texas, which produces around 600,000 barrels annually.
"We're very pleased with our progress so far. With a little luck we might even complete our current workovers ahead of schedule," stated Mr. Billy King, Chief Executive Officer of Monogram Energy, Inc.
Mr. King became interested in the production of oil & gas during his ten years of employment as an attorney for the Halliburton Company, and with his representation of independent oil companies during his years as a private practitioner. Monogram Energy's goal is to maintain a high risk/reward profile, thereby enabling them to return the most value to its shareholders.
FEATURED
COMPANY

GENERAL AUTOMOTIVE COMPANY (OTCBB: GNAU)
Detailed
Quote: http://www.otcpicks.com/quotes/GNAU.php
Company
Profile:
http://www.otcpicks.com/general-automotive/general-automotive-2.htm
General Automotive Company ("GAC") is a provider of original equipment and aftermarket automotive parts, mobile electronics, and related automotive products at multiple levels of distribution throughout the United States and internationally. Through its two wholly owned subsidiaries, Global Parts Direct and OE Source, the company focuses its efforts on utilizing its relationships with manufacturers in China, Korea and Japan to bring state-of-the-art automotive parts, accessories and products to automobile manufacturers and major parts distributors in the U.S. For more information on GAC and its products, visit www.generalautomotive.com.
GNAU
News:
June 10 - General Automotive Expands Board of Directors
Managing Partner of Charter Oak International and Former Top Saab Executive Join Board
General Automotive Company (OTCBB: GNAU), a provider of original equipment and aftermarket automotive parts, mobile electronics and related products, announced that Anthony J. Dowd and Kenneth F. Adams have joined its Board of Directors.
Anthony Dowd is the Managing Partner of the private equity partnership, Charter Oak International Partners, as well as a General Partner of Charter Oak Partners, a 32-year-old equity hedge fund. During his 16 years at Charter Oak, Dowd has directed and led the partnerships’ acquisition of, or investment in, privately held businesses. Since founding Charter Oak’s private equity business, Dowd and his team have completed more than 45 acquisitions.
Kenneth Adams, who will serve as Chairman of GA’s Audit Committee, was Vice President and Chief Financial Officer of Saab Cars USA, Inc., a subsidiary of General Motors Corporation and a wholesale distributor of Saab cars, parts and accessories with annual sales of more than $1 billion, for 13 years. He also served on the company’s Board of Directors from 1992 until his retirement in 2005. Adams joined Saab in 1974 as Treasurer and held roles of increasing responsibility over his 31 years with the company. In addition to being responsible for all its financial activities, controls and reporting as CFO, he was a member of the executive team, operations team and chairman of the pension committee.
“Tony and Ken’s vast experience in corporate finance and their business insights will be extremely valuable to General Automotive as we pursue our strategy of growth by acquisition,” commented President and CEO Joseph DeFrancisci. “It is an honor to have people of their stature join our team and help us further GA’s growth and success as we expand our portfolio of operating companies.”
Prior to joining Charter Oak Partners, Dowd was a Senior Associate with James D. Wolfensohn, Inc., a New York-based investment banking firm that advised large domestic and international corporations on mergers and acquisitions. He graduated with distinction from the U.S. Military Academy at West Point with a B.S. Degree in Engineering and earned an M.B.A. from the Wharton School of the University of Pennsylvania. Dowd currently serves on the Board of Directors of several privately held businesses.
Prior to joining Saab in 1974, Adams was an audit manager with Price Waterhouse for six years. A CPA, he received a BS in Finance from Mount Saint Mary’s University. He previously served as a Director and Chairman of the Audit Committee for Telzuit Medical Technologies, Inc.
The election of Dowd and Adams brings the total number of General Automotive directors to five.
STOCKS
TO WATCH
CHINA JIANGSU GOLDEN HORSE STEEL BALL (OTC: CJGH)
"Up 14.29% in morning trading"
Detailed
Quote: http://www.otcpicks.com/quotes/CJGH.php
Golden Horse along with its affiliates and controlled entities is one of the top five manufacturers of steel ball bearings in China. The Company produces over three billion ball bearings annually of various specifications along with its development of over 15 new products, such as stainless steel balls, aluminum balls, and ceramics balls. In addition, the Company continues to export its products to over twenty countries worldwide including the USA, Japan, Brazil, India, and Germany.
CJGH News:
June 12 -
China Jiangsu Golden Horse Steel Ball Reports Record Q1 Revenues of $6.3 Million USD
China Jiangsu Golden Horse Steel Ball, Inc. (OTC: CJGH) ("Golden Horse" or "the Company"), a leading Chinese manufacturer and supplier of ball bearings, has announced unaudited consolidated operating results for the three month period ended March 31, 2008 ("Q1 2008").
Highlights for Q1 2008:
* The Company recorded revenues of $6.30 million in Q1 2008 or approximately 48.79% of the revenues recorded in the year ended December 31, 2007 ("FY 2007").
* The Company recorded a gross profit of $1.15 million in Q1 2008 and the Gross Profit Margin increased by 39.72% from 13.04% during FY 2007 to 18.22% in Q1 2008.
* The Company recorded an operating profit of $0.894 million in Q1 2008 and the Operating Profit Margin increased by 121.53% from 6.41% during FY 2007 to 14.20% in Q1 2008.
* The Company recorded net income after taxes of $0.609 million in Q1 2008 and the Return on Assets increased by 13.10 % from 8.55% during FY 2007 to 9.67% in Q1 2008.
* During FY 2007, the Company recorded revenues of $12.91 million, gross margin of $1.68 million, operating income of $0.827 million and net income after taxes of $1.1 million.
The increase in revenue is attributable to growing global demand for steel bearings as the Company had positive growth in sales from its existing customer base and was able to obtain new contracts. The Company increased prices of the steel bearings to offset the higher direct material costs of steel as the price for raw material steel products continues to increase as a result of higher global demand. In addition, the Company has started to realize the dramatic increase in gross profit margin as the result of the capital investments made in 2007 to improve its offering of bearing products and modernization of equipment and machinery, including the opening on the new plant in Xuyi.
The Company will be uploading the financial statements onto the website, and we encourage the public to visit our website at www.goldenhorsesteel.com.
NEW CENTURY ENERGY CORPORATION (OTCBB: NCEY)
"Up 60.00% in morning trading"
Detailed
Quote: http://www.otcpicks.com/quotes/NCEY.php
New Century Energy Corp., through its subsidiaries, engages in the acquisition, development, exploration, production, and sale of oil and natural gas in Texas. Its oil and gas properties are primarily located in Matagorda, McMullen, Goliad, and Wharton Counties in Texas. As of December 31, 2007, New Century Energy had proved reserves of 1,613,000 barrels of crude oil and 3.0 billion cubic feet of gas. The company was founded in 1985 and is based in Houston, Texas.
NCEY News:
June 12 -
New Century Energy Corp. Announces New Oil Discovery
New Century Energy Corp. (OTCBB: NCEY) announced another new oil discovery resulting from its ongoing drilling program in McMullen County, Texas.
The Company is pleased to report its recent success and positive results from its newest oil completion in the San Miguel Creek Field, in McMullen County, Texas. The Rabke-Maspero Unit #4 well was recently completed in the Wright Sand at a depth of 5,550 feet and has been flowing continuously over the past week at rates in excess of 85 barrels of oil per day (BOPD) on a 9/64” choke with flowing tubing pressure of 545 pounds per square inch.
“We own 100% of the working interest in this well through our subsidiary Gulf Coast Oil Corporation. In addition to this completion in the Wright Sand, we have also identified probable behind pipe reserves in this well that will be production tested after the current completion depletes. The production facility is built and oil sales have already commenced from this new well,” stated Edward DeStefano, the Company’s Chief Executive Officer.
“Also, during May we drilled and set production casing in two new additional wells in this field and completion operations on these wells will commence next week. Based on our ongoing 3D seismic interpretation program in McMullen County, we have identified numerous additional drilling prospects on company-controlled acreage, and plan to continue drilling throughout 2008 and into 2009,” added Mr. DeStefano.
TRENDSETTER SOLAR PRODUCTS (OTC: TSSP)
"Up 10.00% in morning trading"
Detailed
Quote: http://www.otcpicks.com/quotes/TSSP.php
TrendSetter Solar Products, Inc. is a quality manufacturer of solar hot water heating and storage systems in the United States. TrendSetter’s solar hot water systems and storage tanks are uniquely positioned to serve the residential and commercial market. The Company offers a comprehensive range of solar water heating solutions, including solar radiant floor heating options, which are rated and qualify for the new Federal Energy Tax Credit program. A standard residential hot water heater emits approximately one and a half tons of carbon dioxide and carbon monoxide into the atmosphere. TrendSetter’s solar hot water heating and storage systems are emissions free. As global warming and alternate and renewable energies become more of a concern, TrendSetter’s products are one of the answers. For additional information, visit www.trendsetterindustries.com.
TSSP
News:
June 11 -
TrendSetter Solar Products' New Evacuated Collector Passes Testing for SRCC Certification
TrendSetter Solar Products (OTC: TSSP) announced its new Evacuated Tube Solar Collector has passed Solar Rating and Certification Corporation (SRCC) testing requirements.
The long-anticipated SRCC testing results for TrendSetter’s new evacuated collector have been completed. TrendSetter has been involved in the collector design and development, which gives TrendSetter exclusive rights to the U.S. market. The TrendSetter’s Evacuated Tube Collector was first introduced in June 2007 and submitted for SRCC testing in July 2007. The long-awaited field and laboratory testing process has been successfully completed, and TrendSetter will receive SRCC certification within the next few weeks.
TrendSetter CEO, Dirk Atkinson, stated, “The new TrendSetter Evacuated Tube Solar Collector has been marketed during the last year while undergoing the testing process. The SRCC certification allows the customer to apply for the Federal Energy Tax Credit. Many of TrendSetter’s customers have been anticipating the collector performance results and are willing to purchase the untested collectors for their personal use. The SRCC certification gives the new collector creditability and known performance that can be relied upon by the customers.”
Mr. Atkinson went on to say that “TrendSetter’s financial reports are in the final stages of review and are expected to be completed and released within the next few weeks."
CYBERHAND TECHNOLOGIES INTERNATIONAL (OTC: CYHA)
"Up 49.09% in morning trading"
Detailed
Quote: http://www.otcpicks.com/quotes/CYHA.php
CyberHand Technologies International, Inc., through its Canadian operating subsidiary, design, market, sell, distribute and provide service for new consumer electronic technologies. These products use innovative ergonomic designs and technologies that are superior to other products in the market. The initial product offering includes: Computer Game Controllers that are 40% more responsive then the competitor's products; Wireless Keyboards for Personal Digital Assistants (PDAs"); Ergonomic Computer Mouse Product line that eliminates computer related Respective Stress Injuries; and Related Software Upgrades and other peripherals such as Keyboards, Cameras and Scanners. The products are patent protected in both Canada and the United States.
CYHA News:
June 12 -
Cyberhand Controllers Enter the Field
Black Widow Finds a Captain as Its First Tester
Cyberhand Technologies International Inc. (OTC: CYHA), a design, marketing and distribution company providing new consumer electronic technologies using innovative ergonomic designs, announced its subsidiary, Cyberhand Robotics, has started the field testing of its first controller on the gaming and engineering design marketplace. The first product is called the "Black Widow" and it is far faster that any gaming controller offered at any price, cannot cause any of the five carpel tunnels of any of the RMS problems normally associated with fast accurate use of pointing devices, and allows substantially longer game play without fatigue. This is the first in a line of patented advanced controllers that will be offered by the company.
"Cyberhand will be sending a FREE Black Widow to Captain Sam Wilson as the first applicant received by the company to their internal testing program. He will also be receiving FREE PRO and Extreme versions as they become available. Please don't bug him boys as he had to sign a strict non-disclosure agreement and provide the company feedback and suggestions as with all of our testers. A limited free offer also extends to the next five (5) tester applications but all interested testers will be able to sign up on the company website. These field testers will be invaluable for design process and will help mould the look and feel of even better upcoming models. They will be helping design the ultimate 3D fighting controller for the future of high speed game play. At Cyberhand we invite you to don your armor, grab your weapon, load your favorite adventure and let the Black Widow help you conquer the gaming world one win at a time!" said Patrick Burke, Inventor at Cyberhand Technologies International Inc.
ENCORIUM GROUP INCORPORATED (NASDAQ: ENCO)
"Up 22.42% in morning trading"
Detailed
Quote: http://www.otcpicks.com/quotes/ENCO.php
Encorium Group, Inc. is a global clinical research organization specializing in the design and management of complex clinical trials and Patient Registries for the pharmaceutical, biotechnology and medical device industries. The Company’s mission is to provide its clients with high quality, full-service support for their biopharmaceutical and medical device development programs. Encorium offers therapeutic expertise, experienced team management and advanced technologies. The Company has drug and biologics development as well as clinical trial experience across a wide variety of therapeutic areas such as infectious diseases, cardiovascular, vaccines, oncology, diabetes endocrinology/metabolism, gene therapy, immunology, neurology, gastroenterology, dermatology, hepatology, women’s health and respiratory medicine. Encorium believes that its expertise in the design of complex clinical trials, its therapeutic experience and commitment to excellence, and its application of innovative technologies, offer its clients a means to more quickly and cost effectively move products through the clinical development process. Encorium is headquartered in Wayne, Pennsylvania with its European base of operations in Espoo, Finland. The Company has a geographic footprint that includes over one billion people in North America, Western/Central/Eastern Europe, Scandinavia, and the Baltics.
ENCO News:
June 11 -
Encorium Group, Inc. Announces Signing of Letter of Intent to Acquire Prologue Research International, Inc.
* Prologue is a specialty clinical research organization ("CRO") focusing on oncology and oncology-related studies. This acquisition broadens Encorium's therapeutic area expertise in this very important and high-growth area of drug/biologics development.
* Prologue's annual revenue grew at a compounded rate of greater than 30% from 2005 through 2007.
* Prologue has a backlog in excess of $25 million for the fiscal year ended December 31, 2007.
Encorium Group, Inc. (NASDAQ: ENCO) (“Encorium” or “the Company”), a full-service, multinational CRO that provides design, development, and management capabilities for clinical trials and patient registries to many of the world's leading pharmaceutical and biotechnology companies, announced that it has entered into a non-binding letter of intent to acquire Prologue Research International, Inc. (“Prologue”), a CRO that specializes in a full range of clinical research services for Phase I through Phase IV clinical trials in oncology and oncology-related studies.
Details of Transaction
Pursuant to the non-binding letter of intent dated June 6, 2008, the Company will acquire all of the issued and outstanding shares of Prologue for $13.0 million, consisting of $4.5 million in cash and $8.5 million in a combination of non-convertible, non-redeemable senior subordinated debt and convertible, redeemable senior subordinated debt. The Company intends to fund the cash portion of the purchase price with a loan procured by Chardan Capital, LLC (“Chardan”) in the amount of $5,000,000 (the "Loan"). It is anticipated that the Loan will bear interest at a rate not greater than 10% per annum and will be senior unsecured debt. Principal and all accrued interest will be payable upon the earlier of the consummation of Encorium’s anticipated merger with Fine Success Investments, Ltd., a British Virgin Islands company doing business as Linkcon (“Linkcon”), or 12 months from the date of the Note.
In addition to the $13.0 million in consideration that Encorium will pay to the existing Prologue security holders on closing of the transaction Encorium has made a $500,000 non-refundable cash payment to Prologue in exchange for Prologue’s granting an exclusivity period to the Company. The closing of the Prologue transaction is subject to completion of Encorium’s due diligence, approval of the transaction by both parties’ Board of Directors and the signing of a definitive agreement. The closing is expected to occur in the third quarter of 2008.
Kai Lindevall, M.D., Ph.D., Encorium’s Chief Executive Officer stated, “We believe that this acquisition, along with our announcement this afternoon of Encorium’s letter of intent to combine with Linkcon, creates a firm foundation for Encorium to become a leading global service provider to the biopharmaceutical and medical device industries. As we have discussed in the past, our goal has always been to grow into a global, midsized CRO with expertise in multiple targeted therapeutic areas, including oncology. We believe that Prologue represents a compelling strategic acquisition opportunity for Encorium for many reasons including:
1) Its historical growth and strong market position and reputation within the increasingly important oncology therapeutic area;
2) The multiple future organic growth opportunities offered by the combined organization;
3) The cross-selling opportunities to the clients of both companies and
4) The potential for a growing collaboration with The James Cancer Hospital and Comprehensive Cancer Center of The Ohio State University, whose recognition in the area of cancer therapy has grown globally over the last several years.
We believe that the Prologue team has done an impressive job of building a leading company in the oncology CRO market sector, and we are excited about the opportunity to add their capabilities to those of Encorium.”
Tom Ludlam, President and CEO of Prologue, stated: “We have been impressed with Encorium throughout this entire process. Prologue’s goal is to be the best-in-class global oncology CRO. By joining the Encorium Group, we will have immediate global reach which, when leveraged with our oncology expertise, should benefit both our customers and patients with cancer. We look forward to being part of this exciting venture and contributing to a combined company with tremendous potential for growth.”
ABOUT PROLOGUE
Prologue was established in 1998 as a not-for-profit CRO focused exclusively on oncology trials, with support from The James Cancer Hospital/Solove Research Center of The Ohio State University (OSU). The James Cancer Hospital was interested in collaborating with an oncology-dedicated CRO to facilitate the growth of oncology clinical trial activities in central Ohio.
Prologue was subsequently structured to operate independently from OSU, as a stand-alone business, with an initial leadership team consisting of former executives of Adria/Pharmacia, a well-known pharmaceutical company with a significant presence in oncology drug development. As a result, Prologue was fortunate from the beginning to have individuals with a great depth of expertise in designing and implementing oncology clinical trials. Many of those leaders remain in senior positions with the Company today.
In mid-2004, the Company re-structured into a private, “for-profit” business. The purpose of re-structuring was to enhance access to capital in order to assure the investment necessary to support growth. The Company currently has 75 employees.
For the fiscal year ended December 31, 2007, Prologue reported audited net revenues of approximately $12.2 million and EBITDA of approximately $900,000.
Prologues management team is led by Tom Ludlam, its President and Chief Executive Officer, who has served in that position since August 2004 will manage the oncology practice and play a significant role in the integration of the business.
Edgemont Capital Partners, LP, is acting as exclusive financial advisor to Prologue.
BRILLIANT TECHNOLOGIES INCORPORATED (OTC: BLLN)
"Up 5.71% in morning trading"
Detailed
Quote: http://www.otcpicks.com/quotes/BLLN.php
Brilliant Technologies Corporation is a technology holding company devoted to research and development leading to commercialization of innovative, proprietary technologies. Through its subsidiary, LTDnetwork, Inc., the Company owns a range of cutting edge proprietary software designed to facilitate and enhance ecommerce. The Company is currently preparing for the launch of Qtrax, the company's innovative P2P file-sharing service, and has already signed deals with Universal Music Publishing, Sony/ATV, SonyBMG, Warner Music Group, The Orchard, EMI Music Publishing and EMI Music, TVT Records, Go Digital, ASCAP and BMI. The Company is based in New York, New York and Melbourne, Australia. For more information about Brilliant, go to www.ltdnetwork.com. For information about Qtrax, visit www.qtrax.com.
BLLN News:
June 3 -
EMI Music Enters Into New Agreement With Qtrax for Ad-Supported Digital Music Service
Music Fans in US and Canada Will Now Have Access to a Vast Array of Legal Downloads From This Ad-Supported Service
EMI Music, one of the world's leading music companies, has entered into an agreement with ad-supported digital music service Qtrax, a subsidiary of Brilliant Technologies Corporation (OTC: BLLN), to make EMI's catalog of digital music available to music fans in the US and Canada.
As part of the agreement, EMI's music will be available free to registered Qtrax members for unlimited streaming or downloading to a PC. Fans can also load downloaded tracks on up to three portable devices and play them while their membership remains active (fans maintain membership by visiting the site at least once every 60 days to keep downloads active on PCs or devices). Those who wish to permanently own tracks can do so via direct Qtrax links to participating digital retailers.
"This is a revolutionary time for the music industry," said Founder and Chairman of Qtrax Allan Klepfisz. "Guy Hands and EMI Music have demonstrated great vision and leadership and we couldn't be more thrilled to have their support," he continued. "Music fans will soon be able to legally download tracks from EMI's rich, storied catalogue, giving them access to one of the world's largest repertoires of music."
ABOUT EMI MUSIC
EMI Music is the recorded music division of EMI Group Limited, one of the world's leading music companies. Its EMI Music division represents artists spanning all musical tastes and genres. Its record labels include Angel, Astralwerks, Blue Note, Capitol, Capitol Nashville, EMI Classics, EMI CMG, EMI Records, EMI Televisa Music, Manhattan, Mute, Parlophone and Virgin. Artists on EMI labels include Lily Allen, The Beatles, Coldplay, Corinne Bailey Rae, Gorillaz, Hot Chip, Norah Jones, The Kooks, Korn, Kylie Minogue, Pink Floyd, Joss Stone, 30 Seconds To Mars, KT Tunstall, Keith Urban and Robbie Williams, as well as international artists such as Amaral (Spain), Camille (France), Utada Hikaru (Japan), LaFee (Germany), RBD (Mexico) and Vasco Rossi (Italy).
EMI has been at the cutting edge of the rapidly growing digital music marketplace since it released David Bowie's 'Hours' as the world's first ever album to be offered as a digital download in 1999. EMI has signed agreements with hundreds of digital partners to distribute its music across the globe, including its premium DRM-free, higher-quality offering sold through partners including Apple iTunes, Amazon.com and more. It continues to facilitate the development of a growing range of new digital business models to enable fans to experience and purchase its artists' output through a number of different platforms including, music discovery services such as Last.fm, iMeem and Spiralfrog, legal peer-to-peer services such as GNAB and a deal to offer advertising-supported videos on mobile phones through Rhythm NewMedia. For further information on EMI, visit www.emigroup.com.
ABOUT QTRAX
Qtrax (www.Qtrax.com) is an innovative, legal digital music service that is free to fans. Qtrax showcases an innovative ad-supported delivery model that easily directs revenue back to artists and rights holders. Qtrax is available for browsing now and soon will provide fans with access to a colorful and diverse catalog with millions of high-quality digital music files representing the broadest artist-based fan-directed array of products available anywhere. Based in New York City, Qtrax is a subsidiary of Brilliant Technologies Corporation (OTC: BLLN), a publicly traded technology holding company.
TECHPRECISION CORPORATION (OTCBB: TPCS)
"Up 10.00% in morning trading"
Detailed
Quote: http://www.otcpicks.com/quotes/TPCS.php
TechPrecision Corporation, through its wholly-owned subsidiary, Ranor, Inc., produces high-precision, large scale metal fabrications and machined assemblies weighing up to 100 tons. A significant part of the Company’s revenues are derived from the alternative energy industry. Examples of its mission critical components in its key segments include solar related products, nuclear reactor parts, nuclear waste storage systems, lifting and transportation equipment for the nuclear industry, and key components for proton beam therapy machines to treat cancer. TechPrecision is one of a few end-to-end solutions providers with the ability to engineer each project’s requisite tooling and manufacturing processes, fabricate, machine, assemble, test and deliver large-scale metal products with tight tolerance levels, with all requisite services to complete such projects under the Company’s control.
TPCS News:
June 12 -
TechPrecision Secures Key New Contract
TechPrecision Corporation (OTCBB: TPCS) (“TechPrecision”, or “the Company”), a leading manufacturer of large-scale, high-precision fabricated and machined products for the alternative energy, medical, nuclear, defense, aerospace and other commercial industries, announced today that it has received a purchase order from GT Solar International, Inc. Such purchase order exceeds $25 million and is consistent with the level of orders from GT Solar that the Company has received over the last year. The Company expects that the purchase order will be filled during its fiscal years ending March 31, 2009 and March 31, 2010.
GUYANA GOLD CORPORATION (OTC: GYGC)
"Up 11.90% in morning trading"
Detailed
Quote: http://www.otcpicks.com/quotes/GYGC.php
Guyana Gold Corp. is a junior mineral exploration company that specializes in identifying, acquiring and developing precious and base metal properties as well as assessing whether certain claims possess exploitable commercial and precious mineral reserves. The Company’s objective is to develop a balanced global portfolio of early-to-advanced stage projects. Guyana is currently focused on gold projects in the Caribbean. In Guyana, the Company’s key mineral project is located in the region of Port Kaituma.
GYGC News:
June 12 -
Guyana Gold Corp. Receives Proposal for Joint Venture to Develop Port Kaituma Gold Project
Guyana Gold Corp. (OTC: GYGC) reported that it has received a joint venture proposal to develop the Port Kaituma Gold Project. The proposal would expand the company’s land position and increase the scale of the Port Kaituma project. Guyana Gold Corp. had received a number of joint processing proposals and has now expanded those proposals to include ownership in the Port Kaituma project. Guyana Gold Corp.’s plans are to build a modern processing facility at Port Kaituma with far greater recovery rates of gold. The new joint ownership presents an excellent opportunity for Guyana Gold Corp. to increase revenue, expand mine life and accelerate the capital recovery costs of modernizing the Port Kaituma mine.
Eduard Aronov, President of Guyana Gold Corp., stated, "The Port Kaituma projects may realize many potential synergies leading to accelerated development of deposits on the joint venture property. The potential Joint Venture partner is preparing a geological information package and Guyana Gold Corp. will report updates as they become available."
The Port Kaituma property is located in the administrative region in Guyana. The main mineral interests in Guyana are gold, diamond and bauxite and, recently, semi-precious stones. The property is currently producing 100 ounces of gold per month and recently announced the purchase of additional equipment to increase its production to about 250 ounces per month.
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