OTCPicks.com

FEATURED COMPANY

PURIO INCORPORATED (OTCBB: PURO)
"Up 13.64% 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:

July 31 - Purio Inc. Completes Move of Compact Mobile Water Treatment System to Its First Demonstration Location

Purio Inc. (OTCBB: PURO) announced that it has completed the move of its compact mobile water treatment system to its first demonstration location.

"Our preliminary mechanical testing of the new unit was completed to our total satisfaction with all systems functioning superbly," says Earl Switenky, spokesmen for Purio.

"As planned, our first demonstration is designed to produce drinking water. The unit will be drawing water from a stagnant and polluted pond formerly used to water livestock," says Leonard Girard chief science officer for Purio. "This water certainly is unsuitable for human consumption as is, and this demonstration is designed to prove our unit's ability to produce safe drinking water from such sources economically."

Purio will be submitting water samples to recognized testing laboratories and reporting the results.

In the coming weeks the unit will be moved to a municipal location that will provide an ideal demonstration of the unit's capability to clarify and sanitize residential waste water for recycling purposes.

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:

July 30 - U.S. Mine Makers Corrects Previous Press Release

U.S. Mine Makers, Inc. (OTC: USMM) corrects earlier press release. A previous July 30 press release stated 370.32 grams of gold per day, 260 oz of gold per month and $240,000 per month. It should have stated .7032 grams of gold per day, 100 oz of gold per month and $62,000 per month.

July 30 - U.S. Mine Makers Pilot Ore Processing Plant Currently Under Construction

U.S. Mine Makers, Inc. (OTC: USMM) offers an operational update for USMM investors regarding the company's recent ore processing activities including research, testing and processing production plans.

For the past several months the company's metallurgists, chemists and engineers have been actively engaged in gold and platinum group metals (PGM) recovery at a pilot recovery and test facility in Nampa, Idaho. The company has been conducting 5 pound pulls and sending recovered metals to independent labs for analysis. Their recovery efforts and testing have resulted in outstanding recovery results of 3.7032 grams of gold per 5 lbs of ore concentrate.

The company is constructing a portable pilot plant that will allow 500 lb. pulls per day and construction of that portable pilot plant is scheduled to be completed in mid September of this year. At that time, given the company's verified and repeatable recovery results, USMM expects to begin production processing using the 500 lb. processing plant. Assuming the company processes one 500 lb. pull per day, the gold-only yield will be 370.32 grams of gold per day. At 28.35 grams per oz. the pilot plant will be able to produce 13 oz. of pure gold per day and assuming a 20 day work month, the company expects to recover 260 oz. per month. At today's gold spot market price of around $914 per oz. the expected recovered gold utilizing the pilot plant will be in the neighborhood of $240,000 per month. The source ore concentrate the company will be processing contains high levels of platinum group metals, and recovery of those platinum group metals will yield additional revenues.

Revenues from the pilot plant operations will be used to fund operations and additional research, but will primarily be used to complete construction of the full scale production plant. The company expects the full scale plant to be operational in Q4, 2008. The full scale production plant will be capable of processing 5 tons (10,000 lbs) of ore per day. Extrapolating the gold recovery rates to the full scale production plant should yield 5,200 oz. of gold per month with a market value at today's spot market gold price ($914 per oz) of around $4.75M of gold per month. The recovery procedure will also be applied to the extraction of platinum group metals from the concentrate yielding additional revenues.

U.S. Mine Makers CEO Ronald Bell stated, "We are extremely pleased the results of our metallurgists, chemists and engineer's efforts in the last several months. We are recovering gold every day in a repeatable fashion in our lab. The pilot plant will help us realize substantial revenue and cash flow enabling us to fund the build out of our full scale production plant. This is an exciting time for our company and for USMM investors as we move from a research and testing phase into a production and recovery phase within the company. We expect to be up and running with our pilot production plant in September and our goal is to have our full scale production plant operational in the fourth quarter."

FEATURED COMPANY

MONOGRAM ENERGY INCORPORATED (OTC: MGRN)
"The Rally Continues — up 50.00% on Wednesday & 33.33% in morning trading"

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

Company Profile:
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:

July 29 - Monogram Energy, Inc. Addresses Shareholders

Monogram Energy, Inc. (OTC: MGRN) would like to update its shareholders on recent corporate events, in particular the activity relating to the Company’s common stock. Monogram Energy wants to assure its stockholders that the Company shares their concerns regarding the recent price drop of the stock, and is doing everything in its power to halt the slide. Monogram’s management is continuing to try and create shareholder value by acquiring wells, delivering oil produced by existing wells, and recognizing revenue. The Company continues its commitment to increase the production of existing and newly acquired wells.

Monogram's management realizes that not every stockholder is a long-term holder, but for those who are we ask that you request your shares in certificate form from your broker. Mr. Billy King, Chief Executive Officer of Monogram Energy, Inc. stated, "We feel it's important that our shareholders know that we are reviewing and analyzing all available sources to try and pinpoint the causes of the price decline of our stock, and that we are taking whatever steps we can to find a solution."

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:

July 30 - General Automotive Announces High-Temperature Sealing System for Fuel Cell and Oxygen Sensor Applications

General Automotive Company (OTCBB: GNAU), a global provider of parts, accessories and advanced technology for the automotive industry, announced that its joint venture with SenCer Inc. has developed a high-temperature glass/ceramic sealing system for fuel cell and oxygen sensor applications. The development allows for thermal cycling of these devices and completely seals against free hydrogen gas molecules.

GA President and CEO Joseph DeFrancisci commented, "Our joint venture — focused on developing, commercializing and marketing UltraTemp(TM) ceramic composite materials — is hitting the ground running. We're pleased to be able to announce an important advance so quickly. When combined with our high-temperature composite technology, this system can provide complete hermetic sealing of advanced solid oxide fuel cells and oxygen sensors at a low cost."

David Burt, President of SenCer and Chief Technology Officer of the joint venture, explained, "The development is an extension of a core glass developed at Los Alamos National Laboratory for space-based atmospheric re-entry. In addition to the Lab's core national security mission, its work advances many other fields such as materials science. By building on the Lab's years of research, we can accelerate the development of commercial solutions for these complex problems."

General Automotive and SenCer recently formed a joint venture — Advanced Composite Technology, LLC (ACT) — to develop, commercialize and market SenCer's groundbreaking UltraTemp(TM) ceramic composite materials for accelerating the development of energy-efficient, environmentally friendly fuel cell technologies. The joint venture is also intended to advance the development of next-generation oxygen sensors, which represent a significant part of GA's current business.

ACT's groundbreaking technology solves the two most persistent problems in fuel cell design - cost and durability - by replacing expensive platinum conductors with co-fired proprietary ceramic conductive layers. Hydrogen-powered fuel cells are widely viewed as a potential solution for higher energy prices and environmentally damaging emissions. The technology will also enable the design of more sophisticated oxygen sensors to help maximize fuel economy and minimize exhaust emissions.

ABOUT SENCER INC.

Established in 1996, SenCer Inc. is a technology research firm that has developed a ceramic composite material, UltraTemp™, with remarkable thermal properties and bonding capabilities. The new technology has applications in oxygen sensing (automotive and medical markets); oxygen generation (aluminum — inert anodes, gas generation, medical); and power generation (fuel cell technology). SenCer has been a behind-the-scenes player in many developments using ceramic composites. It maintains a 20,000 square foot manufacturing facility in Penn Yan, NY.

FEATURED COMPANY

NEXPLORE CORPORATION (OTC: NXPC)

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

Company Profile: www.otcpicks.com/nexplore/nexplore.htm

NeXplore Technologies is developing a Web 2.0 search engine and an assortment of social networking portals and tools that will enable users to personalize their Web experience and tailor it to their unique needs, interests, and online pursuits. The Company’s social computing platform, MyCircle.com, offers an enhanced, user-friendly graphical interface search engine, combined with innovative backend technology, which enables users to improve the way they connect with information and other people on the Worldwide Web. MyCircle’s Web 2.0 interface provides users with an online tool for sharing their Blogs, Voice-Over IP, photos and documents, podcasts and videocasts, classified advertising, instant messages, SMS text messages, Chat and personal profiles.

NXPC News:

July 31 - Scott Grizzle, Chief Marketing Officer of NeXplore Corporation, Discusses Recent Web Traffic on WallSt.net's 3-Minute Press Show

NeXplore Corporation (OTC: NXPC), an Internet technology company, announced that the company's Chief Marketing Officer, Scott Grizzle, is featured in an exclusive interview on WallSt.net's “3-Minute Press Show.”

The interview gives viewers an overview of the company, and the significance of the company's latest press release.

To view the clip in its entirety, visit www.tv.wallst.net/r/3-minute-press/Scott-Grizzle-NXPC/183/796.

STOCKS TO WATCH

ZONES INCORPORATED (NASDAQ: ZONS)
"Up 51.65% in morning trading"

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

Zones, Inc. is a single-source direct marketing reseller of name-brand information technology products to the small-to-medium-sized business market, enterprise accounts and public sector accounts. Zones sells these products through outbound and inbound account executives, a national field sales force, catalogs and the Internet. Zones offers more than 150,000 products from leading manufacturers including Adobe, Apple, Avaya, Cisco, HP, IBM, Kingston, Lenovo, Microsoft, NEC, Nortel Networks, Sony, Symantec and Toshiba.

ZONS News:

July 31 - Zones Announces Financial Results for the Second Quarter of 2008

* Total net sales in Q2 2008 were $158.3 million compared with $192.2 million in Q2 2007
* Net income was $0.25 per share in Q2 2008 compared with $0.30 per share in Q2 2007
* Customer unassisted sales in Q2 2008 represented 35.9% of total net sales

Zones Inc. (Nasdaq: ZONS), a single-source direct marketing reseller of name-brand information technology products, announced its results for the quarter ended June 30, 2008. Total net sales decreased 17.6% to $158.3 million in the quarter ended June 30, 2008 compared with $192.2 million for the same quarter of 2007. The Company reported net income of $3.6 million, or $0.25 per diluted share, for the quarter ended June 30, 2008 compared with net income of $4.4 million, or $0.30 per diluted share, for the same quarter of 2007.

Firoz Lalji, Zones' CEO and Chairman, commented, "Although disappointed by our financial performance this quarter, we continue to be confident we are prepared to face the operating challenges in this period of economic uncertainty." Lalji continued, "In view of prevailing economic conditions, we are reducing our expectations for growth; however, we plan to continue to invest for the longer term through account executive hiring and investments in infrastructure."

Net sales for the six months ended June 30, 2008 decreased 4.5% to $325.1 million, compared with $340.4 million for the corresponding period of 2007. Net income for the six months ended June 30, 2008 decreased 7.5% to $6.2 million, or $0.43 per diluted share, compared with net income of $6.7 million, or $0.46 per diluted share, for the corresponding period of 2007.

Operating Highlights

Consolidated outbound sales to businesses and public sector customers decreased 17.4% to $157.5 million in the quarter ended June 30, 2008 compared with $190.7 million in the corresponding period of 2007. The company experienced sales declines in all segments of its business. Most notable was the 25.1% decline in sales to large enterprise customers. Customer unassisted sales (primarily Web-based) were $56.8 million, and represented 35.9% of total second quarter 2008 net sales.

Gross profit margin was 13.1% in the second quarter of 2008, compared with 11.7% in the second quarter of 2007. The year over year expansion in gross profit margin percentage was primarily due to improvements in selling margins, an increase in contributions from enterprise software agreements, and a decline in lower margin sales to national Fortune 1000 customers, offset by a reduction in vendor programs. Gross profit margins as a percent of sales are expected to vary on a quarterly basis due to vendor programs, product mix, pricing strategies, customer mix, and economic conditions.

Total selling, general and administrative expenses, as a percent of net sales, were 8.4% in the second quarter of 2008. This represents an increase over 6.7% of net sales in the same quarter in 2007. This percentage increases was primarily due to the decrease in sales volume coupled with increases in certain expense categories including salaries, wages and benefits.

Asset Management

The Company's balance sheet remained strong and the quarter ended with a cash balance of $17.1 million. Consolidated working capital was $61.1 million at June 30, 2008, compared with $55.0 million at December 31, 2007.

Inventories decreased to $20.3 million at June 30, 2008 from $21.3 million at December 31, 2007. Inventory turned at a rate of 25 times annually during the quarter. Trade accounts receivable decreased to $67.4 million at June 30, 2008, compared with $73.6 million at December 31, 2007. Days sales outstanding were 39 days compared with 41 days at December 31, 2007.

CSMG TECHNOLOGIES INCORPORATED (OTCBB: CTGI)
"Up 55.79% in morning trading"

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

CSMG Technologies, Inc., a development stage company, together with its subsidiaries, operates as a technology management company. The company engages in financing, owning, developing, patenting, managing, licensing, and marketing technologies in Ukraine and other eastern European countries. It provides live biological tissue bonding technology that focuses on bonding living soft biological tissue used in surgical procedures, which eliminates the need for sutures, staples, sealants, or glues; and carbon dioxide separation of landfill gas technology that separates carbon dioxide and other impurities from the gas produced in landfills and converts the remaining gas to a cleaner, up to 98% pure methane gas for use in internal combustion engines or for sale to natural gas companies. The company, formerly known as Consortium Service Management Group, Inc., was incorporated in 1992 and is headquartered in Corpus Christi, Texas with an additional office in Kiev, Ukraine.

CTGI News:

July 31 - CSMG Technologies Announces U.S. FDA 510(k) Clearance for Live Tissue Connect's VAD System

CSMG Technologies, Inc. (OTCBB: CTGI), a technology management company, announced its subsidiary Live Tissue Connect, Inc. (LTC) received 510(k) clearance from the U.S. Food and Drug Administration (FDA) to market its LTC VAD System. The LTC VAD System consists of a LTC VAD.400 bipolar electrosurgical generator and two disposable sealing instruments. FDA clearance allows LTC to market these products in the USA.

The VAD.400 generator and the two disposable instruments are intended for use in open general surgical and gynecological procedures for the ligation of vessels and ducts as an alternative to mechanical clamping (clips or staples) and suturing. LTC’s new third generation bipolar system can be used on vessels (veins and arteries) up to 7 mm diameter, on ducts up to 2 mm diameter and tissue bundles as large as will fit in the jaw electrodes of the instruments.

Donald S. Robbins, President and CEO of CSMG Technologies, said, "I am very pleased for our shareholders to be able to announce the most important and long awaited event in the history of LTC. By LTC receiving its first U.S. FDA 510(k) on the generator and the two instruments they are now able to start marketing in the U.S. market. I wish to publicly congratulate all the medical device professions involved with the LTC technology and the LTC team in Santa Barbara, California. I also want to personally thank as well all the CSMG shareholders who have believed in our potential and stayed the course waiting for this key corporate event."

Frank D. D’Amelio, President of LTC said, “The 510(k) clearance of our generator and disposable instruments marks the completion of a major milestone for LTC. The technology embodied within the VAD.400 generator and the interconnecting disposable instruments represents years of scientific research regarding the effects of RF energy on tissue. The LTC bipolar system has undergone extensive animal clinical testing; has been the subject to numerous peer-reviewed papers; and has passed all applicable quality standards. Having now obtained this clearance, we will next implement our USA sales representative recruitment plan and ramp up our production for distribution.”

ABOUT LIVE TISSUE CONNECT

LTC's surgical tissue bonding / welding device is a patented platform technology that bonds and reconnects human soft tissue through fusion, in contrast with conventional wound closing devices such as sutures, staples, sealant, or glues. LTC currently holds a total of approximately 31 patents and pending patents in the U.S., Australia, Canada, European Union, Ukraine and other countries.

DRINKS AMERICAS HOLDINGS LIMITED (OTCBB: DKAM)
"Up 3.33% in morning trading"

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

Drinks Americas develops, owns, markets, and nationally distributes alcoholic and non-alcoholic premium beverages associated with renowned icon celebrities. Drinks Americas' portfolio of premium alcoholic beverages includes Trump Super Premium Vodka and Willie Nelson's Old Whiskey River Bourbon. The Company's non-alcoholic brands include the distribution of Paul Newman's Own Lightly Sparkling Fruit Juice Drinks and Flavored Waters. The company also has a partnership with Universal Music’s Interscope, Geffen, A&M Records to jointly develop and launch beverage products. Other products owned and distributed by Drinks Americas include award-winning Damiana Liqueur and Aguila Tequila from Mexico, Cohete Rum Guarana from Panama, and Rheingold Beer. Damiana, Old Whiskey River, Aguila Tequila and Cohete Rum are Gold and Silver Medal award winners respectively from the International Beverage Tasting Institute and the San Francisco International Wine and Spirits Competition. For further information, visit www.drinksamericas.com.

DKAM News:

July 30 - Drinks Americas Announces Fourth Quarter and Annual Results Conference Call & Webcast

Drinks Americas Holdings, Ltd. (OTCBB: DKAM), a leading owner, developer and marketer of premium beverages associated with renowned icons, including Donald Trump, Dr. Dre, Paul Newman and Willie Nelson, announced that, due to the occurrence of material events subsequent to the close of its fiscal year regarding joint ventures with new products and market roll-outs, the announcement of its fourth quarter and fiscal 2008 annual results have been delayed.

Drinks Americas will discuss its fiscal fourth quarter 2008 and full year results via a conference call and Webcast on Monday August 4, 2008 at 2:00 PM Eastern Time. Drinks Americas will announce its fourth quarter and fiscal year on Monday morning, August 4th

The dial-in number for the conference call is 1-800-593-9034 (or International callers 1-334-323-7224), confirmation pass code “Drinks”. Begin dialing in 10 minutes prior to the conference start time. To listen to the live Webcast, log on to the investor relations section of the Company's website at www.drinksamericas.com. The call will also be available for replay for seven days by dialing 1-877-656-8905, pin number 85568920.

RICHARDSON ELECTRONICS LIMITED (NASDAQ: RELL)
"Up 20.00% in morning trading"

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

Richardson Electronics, Ltd. is a global provider of “Engineered Solutions,” serving the RF, Wireless & Power Conversion; Electron Device; and Display Systems markets. The Company delivers engineered solutions for its customers’ needs through product manufacturing, systems integration, prototype design and manufacture, testing and logistics. Press announcements and other information about Richardson are available at www.rell.com.

RELL News:

July 30 - Richardson Electronics Reports Fiscal 2008 Results

Richardson Electronics, Ltd. (Nasdaq: RELL) reported its results for the fourth quarter and full year ended May 31, 2008.

Net sales during fiscal 2008 were $568.4 million, up 2%, from net sales during fiscal 2007. Operating loss during fiscal 2008 was $1.3 million, compared to operating income of $7.8 million last year. Operating loss during fiscal 2008 includes a non-cash goodwill impairment charge of $11.5 million. Net loss from continuing operations for fiscal 2008, which includes the impairment charge, was $8.5 million, compared to net income from continuing operations during fiscal 2007 of $1.5 million. Net loss from continuing operations for fiscal 2008 includes a $2.3 million tax benefit related to the impairment charge.

Excluding the impairment charge, on a non-GAAP basis, operating income for fiscal 2008 was $10.2 million and net income from continuing operations was $0.8 million.

Improved Fourth Quarter Operating Performance

Net sales during the fourth quarter of fiscal 2008 were $155.1 million, compared to $146.2 million during fiscal 2007. Gross margin improved 190 basis points, from 22.5% during fiscal 2007, to 24.4% during fiscal 2008. Selling, general, and administrative expenses as a percent of net sales were 20.6%, compared to 24.9% last year. Operating loss during the fourth quarter of fiscal 2008, which includes the goodwill impairment charge, was $5.7 million, compared to an operating loss of $2.0 million last year. Excluding the impairment charge, operating income for the fourth quarter was $5.8 million and net income from continuing operations was $4.0 million.

“I am pleased with our sales growth and operating performance during the fourth quarter. Our sales growth of 6.0% includes growth in our RFPD and DSG businesses, while EDG remained relatively flat. In addition, I am encouraged by the improvements we are seeing in our underlying operating performance as well as the progress we have made with our company-wide initiatives,” said Edward J. Richardson, Chairman, Chief Executive Officer and President of Richardson Electronics, Ltd.

“During the fourth quarter, our cash generated from operating activities was $19.7 million, compared to cash used in operating activities of $0.2 million last year. This reflects the improved working capital discipline implemented during fiscal 2008. We ended fiscal 2008 with total debt less cash of $15.6 million,” said Kathleen S. Dvorak, Executive Vice President and Chief Financial Officer.

“Our efforts are resulting in improvements in many of our key financial metrics. Excluding the goodwill impairment charge, our fourth quarter financial results demonstrate the capabilities of our business model to deliver sustainable, long-term growth and value for our shareholders,” added Mr. Richardson.

Goodwill Impairment

During the fourth quarter of every fiscal year, the Company reviews goodwill for impairment by applying a fair-value based test. The test for impairment indicated that the fair value of the Company's Display Systems Group was less than its carrying value as of the March 1, 2008, measurement date. As a result, during the fourth quarter, the Company recorded an impairment charge of $11.5 million as a non-cash charge to operating expenses. The Company also recorded a $2.3 million tax benefit as a result of the impairment charge.

Financial Highlights (12 Months Ended May 31, 2008)

Cash flows provided by operating activities were $27.9 million during fiscal 2008 while cash flows used in operating activities were $9.0 million during fiscal 2007.

Net sales for the RF, Wireless & Power Division, the Electron Device Group, and the Display Systems Group increased 1.7%, 2.0%, and 3.1%, respectively, during fiscal 2008 compared to fiscal 2007.

Gross margin percentage for the RF, Wireless & Power Division, the Electron Device Group, and the Display Systems Group decreased by 0.1%, 0.7%, and 2.2%, respectively, during fiscal 2008 compared to fiscal 2007.

Excluding certain items as noted in the “Non-GAAP Financial Information” section of this press release, gross margin was $138.4 million during fiscal 2008, an increase of $6.0 million, compared to gross profit of $132.4 million during fiscal 2007. Gross margin percentage was 24.4% during fiscal 2008, a 60 basis point improvement, from 23.8% during fiscal 2007.

Operating loss during fiscal 2008 was $1.3 million, compared to operating income of $7.8 million during fiscal 2007. Excluding the items noted in the “Non-GAAP Financial Information” section of this press release, operating income during fiscal 2008 was $16.3 million, a 101% increase, compared to operating income of $8.1 million during fiscal 2007.

Net loss from continuing operations during fiscal 2008 was $8.5 million compared to net income from continuing operations of $1.5 million during fiscal 2007. Excluding the goodwill impairment charge of $11.5 million ($9.2 million, net of tax benefit of $2.3 million) net income from continuing operations during fiscal 2008 was $0.8 million.

Improved Working Capital Management and Cash Flows

Cash and cash equivalents were $40.0 million at May 31, 2008, as compared to $17.4 million as of June 2, 2007. The increase in overall cash and cash equivalents during fiscal 2008 reflects $29.3 million of cash provided by improved working capital management. This is a $37.9 million improvement compared to cash used to support an increase in working capital of $8.6 million during fiscal 2007.

Total debt less cash as of May 31, 2008, was $15.6 million, compared to $42.1 million as of June 2, 2007.

Outlook

“We believe that our cost reduction initiatives and our disciplined focus on working capital management will result in continued improvement in our cash flows and overall financial performance during fiscal 2009. I am encouraged by the progress we have made in a relatively short period of time and remain optimistic about our long-term prospects,” added Mr. Richardson.

IFINIX CORPORTAION (OTC: INIX)
"Up 23.08% in morning trading"

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

iFinix is a diversified information technology services and solutions company with expertise in systems integration, outsourcing, infrastructure and server technology. iFinix has established a product line that delivers financial and business information with streaming, real-time market data, news and analytics to professionals and active individual investors. The company's suite of products includes iFinix RealTime, iFinix Trader and eFinix. Visit www.iFinix.com for more information.

INIX News:

July 31 - iFinix Corp. Finalizes Acquisition of Futures and Options Firm

Acquisition Expands iFinix's Product Offerings, Brand Awareness

iFinix Corp (OTC: INIX), a provider of real-time financial information and services to active traders and to the securities industry, announced today it has finalized the acquisition of 80% of privately held ProActive Futures, Plainview, NY, a futures and options brokerage firm.

Operating under the name of iFinix Futures as a subsidiary of iFinix, this full-service futures and option brokerage firm specializes in trading commodity futures. It offers access to major futures and commodities exchanges and markets across the world. The new entity will be the beginning of a new phase in iFinix's future goals. It will bring to the company additional revenue, and will provide a proving ground for additions and enhancements to iFinix's product line. iFinix plans to file an 8K with the proper agencies regarding the acquisition. iFinix also holds a note to acquire the balance of 20% within the next 12 months. Expansion of existing business will be the primary focus of iFinix futures for the remainder of the year.

Benhope Munroe, CEO, CFO, said, "We are excited that we have completed this acquisition that will increase the revenue stream of iFinix. This is just one, in a line of steps, to fulfill our milestones set for the year we have promised to our shareholders."

Jeffery Ramson, President of ProActive Futures said, "I am very happy, on behalf of Pro-Active Futures, to complete this deal and to work with iFinix. I feel that their acquisition of pro-Active Futures will substantially support the achievement of our goals for future expansion and growth. Their technology and our client base provide a mutually beneficial environment for dynamic growth for both entities."

ABOUT PROACTIVE FUTURES

ProActive Futures, based in Plainview, NY, is a full service futures and options brokerage firm that provides professional services to individuals, fund managers and institutions who require leading edge technology to satisfy their trading needs. ProActive Futures offers trading services in Bonds & Interest Rate futures, Currencies, as well as precious metals, energy products and various other commodities. The firm provides trading access to major markets and exchanges across the world including, CME, CBOT, CBOT, NYMEX, EUREX, LIFFE, COMEX, NYBOT. For more information, visit www.proactivefutures.com.

O2MICRO INTERNATIONAL LIMITED (NASDAQ: OIIM)
"Up 14.11% in morning trading"

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

Founded in April 1995, O2Micro develops and markets innovative power management, and security components and systems for the Computer, Consumer, Industrial, and Communications markets. Products include Intelligent Lighting, Battery Management, Power Management, SmartCardBus® and Security products, such as VPN/Firewall system solutions. O2Micro International maintains an extensive portfolio of intellectual property with 10,001 patent claims granted, and over 12,000 more pending. The company maintains offices worldwide. Additional company and product information can be found on the company website at www.o2micro.com.

OIIM News:

July 30 - O2Micro Reports Second Quarter Financial Results

O2Micro® International Limited (Nasdaq: OIIM) (SEHK: 0457), a leading supplier of innovative power management, and security components and systems, reported its financial results for the second quarter of fiscal 2008 and six months ending June 30, 2008.

Financial results for the second quarter ending 6/30/2008:

1) Net sales for the second quarter of 2008 were $40.8 million, an increase of 8.6% from the preceding quarter, and up 6.8% from the second quarter of the prior year. The GAAP gross margin on net sales was 58.2% in the second quarter, which was similar to 58.5% in the preceding quarter, and up from 56.7% from the second quarter of the prior year.

2) The Company recorded a GAAP operating margin of 11.1% in the second quarter. Research and Development (R&D) expenditures were $9.5 million, or 23.2% of net sales including $288,000 of stock-based compensation. SG&A expenses were $9.7 million, or 23.9% of net sales, including $433,000 of stock-based compensation.

3) GAAP Net Income for the second quarter of 2008 was $4.4 million or 12 cents per American Depositary Share (ADS).

Financial results for the six months ending 6/30/2008:

A) Net sales for the six months ending June 30, 2008 were $78.3 million, an increase of 7.0% from the prior year. The GAAP gross margin on net sales was 58.3% in the first half of fiscal 2008, up from 55.7% in the first half of fiscal 2007.

B) The Company recorded a GAAP operating margin of 8.6% for the first half of fiscal 2008. This compares with a GAAP operating margin of 7.1% in the first six months of fiscal 2007. For the first six months of fiscal 2008, R&D expenditures were $19.2 million, or 24.5% of net sales, including $546,000 of stock-based compensation; SG&A expenses were $21.8 million for the same period, or 27.8% of net sales, including $848,000 of stock-based compensation.

C) GAAP Net Income for the first half of fiscals 2007 and 2008 was $5.8 million and $6.6 million, respectively. GAAP Net Income per fully diluted ADS rose from 15 cents in the first six months of fiscal 2007 to 17 cents in the comparable period of fiscal 2008. GAAP Net Income increased by 13% during the first half of fiscal 2008 when compared with the first half of 2007 and GAAP Net Income per fully diluted ADS increased by 15% for the same periodic comparison.

Supplementary Data

As of June 30, 2008, O2Micro had unrestricted cash and short-term investments of $82.6 million, or $2.19 per ADS. Net accounts receivable was $26.8 million, and there were 57 days sales outstanding in accounts receivable at the end of the second quarter of 2008. Inventory was $20.7 million and turned over 3.2 times in the same quarterly period.

As of June 30, 2008, O2Micro’s headcount consisted of 1,063 employees, including 608 people working in R&D. This headcount was approximately flat with 1,075 employees at the end of the first quarter of 2008.

Management Commentary

Sterling Du, Chairman and CEO, commented, “During these challenging economic times, we are continuing to grow because O2Micro is bringing great new products to the market.” Mr. Du continued, “Our newest products are building momentum and we look forward to increasing contributions from our Security, DC/DC, and battery lines in the coming quarters.”

MEMORY PHARMACEUTICALS CORPORATION (NASDAQ: MEMY)
"Up 11.90% in morning trading"

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

Memory Pharmaceuticals Corp., a biopharmaceutical company, focuses on the discovery and development of drug candidates for the treatment of central nervous system conditions. It offers drugs for neurological diseases associated with aging, such as Alzheimer's disease, as well as psychiatric disorders, such as schizophrenia, cognitive impairment associated with schizophrenia (CIAS), and depression. The company's products include MEM 1003, a neuronal L-type calcium channel modulator that is in phase II clinical trials for the treatment of Alzheimer's disease and bipolar disorder; and nicotinic alpha-7 agonists, including MEM 3454, a phase IIa clinical trial product and MEM 63908, a phase I clinical trial product for the treatment of Alzheimer's disease and CIAS. Its products also comprise PDE4 inhibitors, including MEM 1414, a phase I clinical trial program, as well as MEM 1917 for CNS disorders and depression; PDE10 Inhibitor program; and 5-HT6 Antagonists for the treatment of Alzheimer's disease, schizophrenia, attention deficit disorder, and obesity. The company has collaborations with F. Hoffman-La Roche, Ltd. for the development of nicotinic alpha-7 agonists; and Amgen, Inc. for the development of PDE10 inhibitors. In addition, it has a development agreement with The Stanley Medical Research Institute to develop MEM 1003 as a treatment for bipolar disorder. The company was founded in 1997 and is based in Montvale, New Jersey.

MEMY News:

July 30 - Memory Pharmaceuticals Presents Positive Preclinical Data for MEM 68626 at ICAD 2008

Memory Pharmaceuticals Corp. (Nasdaq: MEMY) presented preclinical data for MEM 68626, its lead 5-HT6 antagonist drug candidate, at the 2008 Alzheimer's Association International Conference on Alzheimer's Disease (ICAD) in Chicago. The results demonstrate that MEM 68626 is effective in models of cognition that are considered predictive of efficacy in Alzheimer's disease and mild cognitive impairment (MCI). In addition, the data suggests the potential for once-daily oral dosing with a favorable safety and toxicology profile.

"We are extremely pleased with the data emerging from our proprietary 5- HT6 antagonist program. MEM 68626 produces a robust effect in key models of cognition with a favorable safety and pharmacokinetic profile, providing a strong rationale for clinical development in a cognition indication," stated Vaughn M. Kailian, President and Chief Executive Officer of Memory Pharmaceuticals. "We look forward to advancing this program into the clinic by year-end."

The results were presented in a poster titled "Characterization of serotonin 5-HT6 receptor antagonists as putative drugs for age-related mild cognitive impairment and Alzheimer's disease." The data included the following:

* MEM 68626 significantly enhanced object recognition in young rats, demonstrating improvements in both acquisition and consolidation memory processes in a model of episodic memory.

* In a model of spatial reference memory, MEM 68626 restored cognitive function in aged-impaired rats, and this effect was maintained with longer- term dosing.

* The data suggests that MEM 68626 was active in the cortical and hippocampal areas of the brain, critical regions that are compromised in Alzheimer's disease and MCI.

* Pharmacokinetic studies of MEM 68626 demonstrated that the compound achieved plasma and brain exposure levels sufficient for once-a-day dosing.

Memory Pharmaceuticals also presented a poster titled "Working Memory Deficits in rTg4510 Tau Transgenic Mice," which was selected as a "Hot Topics" presentation.

ABOUT MEM 68626

MEM 68626 is a novel, potent and selective antagonist of the 5-HT6 receptor, a validated target for the treatment of cognitive disorders. The compound has demonstrated efficacy in multiple preclinical models of cognition and obesity and has a favorable safety and toxicology profile in animal studies. MEM 68626 is the lead compound in Memory Pharmaceuticals' 5-HT6 antagonist program.