For Thursday, February
7th
UPBS,
VTBD, MMDA, TCHH, TGAL, SCRA
Our Stocks to Watch tomorrow include
Upstream Biosciences Inc. (OTCBB: UPBS), VitalTrust Business Development
Company (OTCBB: VTBD), Mega Media Group (OTCBB: MMDA), Trustcash
Holdings Inc. (OTCBB: TCHH), Tegal Corporation (NASD: TGAL) and
Sea Containers (OTC: SCRA).

UPSTREAM
BIOSCIENCES (OTCBB: UPBS)
"Up 51.32% on Wednesday"
Detailed
Quote: http://www.otcpicks.com/quotes/UPBS.php
Founded in 2004, Upstream Biosciences is
a pioneer in the discovery and development of novel drugs for tropical
parasitic diseases and in the development of genetic diagnostics for cancer
susceptibility and drug response. Upstream's innovative approach to drug
discovery and its proprietary data mining pipeline enable it to apply
advanced computational approaches to generating novel drug candidates
and to locating and analyzing the genetic variations important to disease
progression and drug response. For more information, visit www.upstreambio.com.
UPBS News:
February
6 - Upstream Biosciences'
Novel Anti-Malaria Agents Demonstrate Promising Signs of Efficacy in Initial
Testing
Results of In Vitro Efficacy Tests Indicate That Upstream's
Initial Anti-Malaria Drug Candidates Have Activity in the Nanomolar Range
Upstream Biosciences Inc. (OTCBB: UPBS) announced that
in vitro data indicates that the company's novel anti-malaria drug candidates
have demonstrated encouraging signs of efficacy against malaria. According
to the World Health Organization (WHO), an estimated 500 million people
become severely ill with malaria and more than one million people die
of the disease each year.
Initial in vitro testing conducted by the Provincial
Laboratory for Public Health (ProvLab) in Alberta, Canada, showed that
Upstream's potential drug candidates demonstrated anti-malarial activity
in the nanomolar range. Activity in this range in a new class of drugs
has the potential to represent an important advance in the treatment of
resistant disease.
"These preliminary results indicating that Upstream's
novel structural class of anti-parasitic agents is demonstrating promising
anti-malarial activity are encouraging, especially in view of the high
unmet need for more effective anti-malarial therapies," said Dr.
Stephanie Yanow, Program Leader at ProvLab. "We look forward to working
with Upstream's researchers to further assess these compounds, as well
as other drug candidates in this novel class."
One of the great advantages of Upstream's Chemoinformatics
Program combining artificial intelligence, advanced computational methods
and chemical diversity techniques is its ability to optimize compounds
quickly and cost effectively, incorporating feedback from experiments
such as those reported today. Upstream intends to use its proprietary
platform to rapidly generate additional drug candidates for the anti-malaria
program, further refining and optimizing the therapeutic profile of these
promising compounds.
"In recent years, the parasites that cause malaria
have become increasingly resistant to older therapies, yet newer drugs
are expensive to produce and have other qualities that make their widespread
use in the developing world problematic," said Joel L. Bellenson,
Chief Executive Officer of Upstream. "We are therefore delighted
with these promising in vitro results from our first series of anti-malaria
compounds. These agents have also demonstrated high potency, low toxicity
and good tolerance in the preclinical studies conducted to date, suggesting
that this new structural class of anti-malaria agents could have potential
therapeutic utility in this devastating disease."
Upstream's library of novel compounds has also demonstrated
encouraging therapeutic potential in vitro against the tropical parasitic
diseases leishmaniasis and trypanosomiasis, or African sleeping sickness.
Malaria, leishmaniasis and trypanosomiasis are caused by related parasites.
ABOUT MALARIA
Malaria is an infectious disease caused
by parasites of the species Plasmodium that are spread from person to
person through the bites of infected mosquitoes. According to the World
Health Organization, about 40% of the world's population is at risk of
malaria. Malaria is endemic in some parts of the world, mostly in sub-Saharan
Africa, where many of the estimated 500 million malaria cases per year
are found. Early diagnosis and treatment can shorten the duration of the
disease and prevent death or the development of debilitating complications.
However, the malaria-causing parasite's resistance to current medicines
continues to undermine malaria control efforts. Malaria disproportionately
affects the poor who cannot afford treatment or who have limited access
to health care. According to the WHO, in some countries with a heavy malaria
burden, the disease may account for as much as 40% of public health expenditure,
30-50% of inpatient admissions and up to 60% of outpatient visits.
VITALTRUST
BUSINESS (OTCBB: VTBD)
"Up 55.56% on Wednesday"
Detailed
Quote: http://www.otcpicks.com/quotes/VTBD.php
VitalTrust Business Development Corporation
operates as a closed-end management investment company. It provides equity
and long-term debt financing to small and medium-sized private companies
in various industries in the United States. The company holds 100% interest
in American Card Services, Inc., which intends to make investments in
financial services and real estate entities; and Entellectual Solutions
Properties Group, Corp., which develops, acquires, integrates, and delivers
various technologies and solutions to the market. Entellectual Solutions
Properties Group owns three product lines: Campus, an enterprise level
application service provider designed as a productivity enhancement system;
VitalTrust, a network of community healthcare information utilities for
healthcare information archive and provider share technology; and Health
Centrics, a medical practice manager designed from the outset in the application
service provider model. VitalTrust Business Development Corporation is
based in Tampa, Florida.
VTBD News:
February
6 - VitalTrust
Engages Mr. Frank Sanchez as Consultant for International Trade and Governmental
Affairs
VitalTrust Business Development Company (OTCBB: VTBD)
(“VTBD” or the “Company”) announced that it has
engaged Mr. Frank Sanchez Esq. as a consultant to assist the Company in
its efforts with regards to International Trade of Renewable Energy Products.
Further, the Company will be utilizing Mr. Sanchez’s exceptional
political experiences to assist with crafting and implementing strategies
designed to further enhance United States based, renewable resources utilization,
sales and marketing.
Mr. Sanchez joins the team as a partner in CM Partners,
an international consulting firm specializing in interest-based negotiation
strategy, alliances, and mediation. He has extensive experience in both
the public and private sector. He served in the Clinton administration
first as Special Assistant to the President, Office of the Special Envoy
for the Americas working on economic integration, trade and promotion
of democracy in Latin America and then as Assistant Secretary of Transportation
in charge of Aviation and International Affairs. His responsibilities
included coordinating policy on international and domestic aviation, international
trade and other international transportation issues. He holds a Bachelors
of Arts Degree in Multi-National Business and Spanish as well as a Law
degree from Florida State University and he is a graduate of Harvard University,
John F. Kennedy School of Government with a Masters Degree in Public Administration.
“We are quickly building a team that can help
execute on the tremendous opportunities that have been identified by the
Company for the International Trade of Renewable Energy Products,”
commented Alex H. Edwards III, VitalTrust CEO. “Frank’s background,
relationships, and international experiences in trade negotiation as well
as his understanding of the current political landscape in the United
States, the Americas, and Abroad make him a needed asset of the Company.”
Mr. Sanchez engagement starts immediately. He can be
contacted at
This email address is being protected from spam bots, you need Javascript enabled to view it
.
MEGA
MEDIA GROUP INCORPORATED (OTCBB: MMDA)
"Up 43.75% on Wednesday"
Detailed
Quote: http://www.otcpicks.com/quotes/MMDA.php
Mega Media Group, Inc., through its subsidiaries,
operates as a multi-media company that focuses on entertainment and media,
and Russian ethnic media in North America. The company offers a range
of services, including talent management, corporate and lifestyle branding,
music publishing, recording, music production and distribution, video
production and distribution, radio broadcasting, and Russian ethnic programming.
It also invests in and develops various entertainment properties; balances
acquires existing media properties, such as purchasing existing recordings
and publishing catalogs; acquisition and development of newer media ventures,
such as mobile and new technology media projects; and signs and develops
emerging musical artists. The company provides music publishing, branding,
and talent management services to mainstream artists, producers, executives,
and songwriters. It also focuses on providing Russian-ethnic entertainment
content to the Russian-American community through its radio station, live
promotions, and recorded ethnic music projects. The company was founded
in 2004 and is headquartered in New York, New York.
MMDA News:
February 6 -
Mega Media Group Announces the Launch of Pulse 87 Radio Station for February
11th and the Hiring of New Program Director for Pulse 87.7 FM
Pulse 87.7 FM, the rhythmic top 40 station will be launched
by Mega Media Group (OTCBB: MMDA) (www.megamediagroup.com),
on February 11th at 6am, the station will feature the Highly popular Star
& Buc Wild Morning Show which will debut on February 18th weekdays
from 6 to 10am and today's top music hits. Joel Salkowitz will become
the station's program director.
Industry Veteran Joel Salkowitz To Lead Station
Salkowitz is a veteran major market programming and
operations executive, who recently served as Vice President of Music Programming
and Content at Sirius Satellite Radio. Prior to joining Sirius, Salkowitz
was with Clear Channel Communications as a Format Director and Brand Manager
overseeing the launch and programming for 10 major market stations, as
well as serving as Program Director for JAMMIN 105 — New York (WTJM-FM).
His past experience also includes management, production and programming
positions at Fox Television, E.M.I. Records, Westwood One, ABC Radio,
NBC Radio and Emmis Communications. As Regional VP of Programming at Emmis'
HOT97 (WQHT) in New York, he helped develop the Rhythm Top 40 format that
dominated contemporary radio during the late 1980s and early 1990s and
was also responsible for overseeing programming at Emmis' WAVA (Washington
DC) and WLOL (Minneapolis).
Commenting on the announcement, Mega Media Group CEO,
Alex Shvarts stated "I am pleased that Joel is leading our radio
team. His wealth of experience with building stations and managing major
market radio personnel will prove invaluable to the launch of Pulse 87."
Also commenting on the announcement, Salkowitz said,
"I am excited to be a part of a new, independent radio business that
I can help to grow from its very inception. It will be especially gratifying
to work with Star who is one of the top morning talents in the country
and who was able to have such a huge impact on not one, but two radio
stations in New York. He's a one-of-a-kind personality and together with
a unique music format, we're going to give New York something to get excited
about on the radio again."
TRUSTCASH
HOLDINGS (OTCBB: TCHH)
"Up 39.53% on Wednesday"
Detailed
Quote: http://www.otcpicks.com/quotes/TCHH.php
Through its Trustcash brand and Web site,
www.trustcash.com, the Company
is a pioneer of anonymous payment systems for the internet. It developed
a business based on the sale of a stored value card (both virtual and
physical) that can be used by consumers to make secure and anonymous purchases
on the internet without disclosing their credit card or personal information.
Trustcash provides to its customers the "Trustcash(TM)" payment
card, which is sold in denominations ranging from $10 to $200 either online,
through any of over 500 websites, or at over 50,000 retail locations in
the United States via MoneyGram. Trustcash's non-reloadable, virtual Trustcash
card is the only "stored value card" that can be purchased where
no personal data is stored or available, providing a unique level of both
security and privacy to the purchaser.
TCHH News:
February 5 -
TRUSTCASH HOLDINGS, INC. and PAIVIS, CORP. Announce Signing of Amended
and Restated Definitive Agreement and Plan of Merger; Paivis Shareholders
to Receive $0.10/Share in Cash Plus One Share of TRUSTCASH Common Stock
Trustcash Holdings Inc. ("TRUSTCASH") (OTCBB:
TCHH) and Paivis Corp. ("PAIVIS") (OTCBB: PAVCE) jointly announced
their execution of a Amended and Restated Definitive Agreement and Plan
of Merger (the "Merger Agreement") pursuant to which TRUSTCASH
has agreed, through a wholly-owned subsidiary, to acquire 100% of the
issued and outstanding common shares of PAIVIS, and PAIVIS has agreed,
at the closing of the transaction, to become a wholly-owned subsidiary
of TRUSTCASH. As consideration in the merger transaction, TRUSTCASH has
agreed to pay $0.10/share in cash plus one share TRUSTCASH common stock
for each common share held by PAIVIS shareholders.
Greg Moss, the Chief Executive Officer of TRUSTCASH,
commented, "We are pleased to complete this amended Merger Agreement
to the benefit of the shareholders. We believe Paivis is very important
for this future of this company and we believe this new structure is not
only simpler but very positive for all involved. We look forward to completing
the next steps towards becoming one great company."
Edwin Kwong, the Interim Chief Executive Officer of
PAIVIS, commented further, "With the signing of the new Amended Merger
Agreement we feel we have achieved a much simpler transaction that still
provides quality value to our shareholders. We have said before, and still
believe that the future of the combined corporations holds a lot of potential
for value creation for our shareholders."
The parties have agreed to use their best efforts to
consummate the transaction by March 31, 2008, or as soon as practicable
thereafter.
The Merger Agreement, which includes all details
of the transaction, will be filed by TRUSTCASH and PAIVIS as an exhibit
to a Current Report on Form 8-K with the U.S. Securities and Exchange
Commission as required. The Merger Agreement contains certain conditions
precedent to consummation of the merger and customary subjects, including
but not limited to the audits of Paivis and its acquisitions being completed,
financing being secured by Trustcash respective shareholder approval,
obtaining consents, providing certified lists of shareholders and delivery
of certain due diligence and other corporate documents.
TEGAL
CORPORATION (NASD: TGAL)
"Up 37.36 on Wednesday"
Detailed
Quote: http://www.otcpicks.com/quotes/TGAL.php
Tegal Corporation engages in the design,
manufacture, marketing, and servicing of integrated circuit fabrication
equipment. Its systems enable the production of integrated circuits, memory,
and related microelectronics devices used in personal computers, wireless
voice and data telecommunications, contact-less transaction devices, radio
frequency identification devices, smart cards, data storage, and micro-level
actuators. The company offers plasma etch technology products, such as
6500 Series Etch products and 900 Series Etch products; and deposition
technologies that include Endeavor Physical Vapor Deposition (PVD) products,
AMS PVD products, and Compact Nano-Layer Deposition products. Tegal sells
its products to semiconductor and nanotechnology device manufacturers
in the United States, Asia, and Europe. The company was founded in 1972
and is headquartered in Petaluma, California.
TGAL News:
February
5 - Tegal Corporation
Reports Third Quarter of Fiscal 2008 Net Income of $0.40 Per Share
Second Consecutive Quarter of Profitability in
FY'08
Tegal Corporation (NASD: TGAL), a leading designer and
manufacturer of plasma etch and deposition systems used in the production
of integrated circuits and nanotechnology devices, today announced financial
results for the Third Quarter Fiscal Year 2008, which ended December 31,
2007. Senior management will conduct an investor conference call to discuss
these results and the company’s financial outlook in more detail
today at 2 p.m. Pacific Time, Tuesday, February 5, 2008. More information
about the conference call is provided below.
Third Quarter Highlights:
*Net income of $2.8 million or $0.40 per share, compared
to a net loss of ($6.1) million during the same period last year and
net income of $0.7 million in the immediately preceding second quarter.
*Gross margins increased to 43.6% from 39.3% in the immediately preceding
second quarter.
*Operating income of $1.7 million, which included non-cash charges of
$0.3 million for stock compensation, depreciation and amortization expense.
*Shipments included 2 advanced etch systems for high volume manufacturing
in Asia and an advanced PVD system to a US maker of commercial MEMS
accelerometers and inertial sensors.
*A repeat advanced etch system order from Skyworks Solutions, Inc.,
a global leader in front-end modules for handsets and wireless devices.
*The Company appointed Carl Muscari to its Board of Directors.
“We are pleased with our third quarter results,
which represent our second consecutive quarter of profitability and will
make us solidly profitable for the entire fiscal year 2008,” said
Thomas Mika, President and CEO of Tegal Corporation. “Since we are
not in mainstream semiconductor markets, we are somewhat immune to industry
fundamentals, which appear to be negative due to the overall memory pricing
environment and other factors. Our focus on faster growing markets has
allowed us to perform extremely well while others in the industry have
had difficulties. However, given that our end markets are consumer-driven,
an overall economic slowdown could cause a push-out of orders and we intend
to be cautious in our near term outlook. Importantly, despite any negative
macro-economic factors we remain confident that we can continue to generate
cash throughout the balance of this fiscal year and into next year. We
also believe that this is an ideal time to introduce new products, as
customers have the capacity for new tool evaluations and we continue to
focus activity in this area. Additionally, we are satisfied that our final
settlement with our former attorneys was in the Company’s best interests
and we are content to have this distraction behind us.”
Financial Results:
Revenues for the third quarter of fiscal 2008 were $10.1
million, an increase of 132% from the $4.4 million in the same period
last year. Tegal reported net income of $2.8 million, or $0.40 per share,
for the quarter, compared to a net loss of ($6.1) million, or ($0.86)
per share in the same period last year, and a net income of $0.7 million,
or $0.10 per share in the prior quarter.
Gross profits for the third quarter of fiscal 2008 were
43.6% compared to a negative (30.3%) in the same period last year, and
up from the 39.3% in the prior quarter.
Operating income for the third quarter was $1.7 million,
including approximately $0.3 million of non-cash charges. This was an
improvement over the ($6.4) million operating loss in the same period
last year and the $0.7 million operating income in the prior quarter,
which included $2.7 million and $0.6 million of non-cash charges, respectively.
Backlog was $4.0M at the end of the quarter.
On January 16, 2008, subsequent to the end of the quarter,
the Company settled its fee dispute with Keker & VanNest (KVN), the
second and final firm of attorneys representing SFI and Tegal in its lawsuit
with Sergey Mishin, AMS, Agilent Technologies and the Avago Entities.
KVN had claimed it was owed fees in the amount of approximately $6.72
million. A payment of $3.8 million was made to KVN and the litigation
suspense has been eliminated.
As of December 31, 2007, the balance sheet still reflects
an $18.5 million Litigation Suspense liability account. The elimination
of the liability and the income from the lawsuit settlement will be reflected
in the fourth quarter of this fiscal year. This will have a material positive
effect on the reported income for the Company’s fourth quarter,
its retained earnings and book value.
Cash at the end of the fiscal third quarter of 2008
was $19.8 million, a $6.0 million decrease from the end of the March quarter.
Accounts receivable increased $3.6 million to $10.2 million and inventories
increased by $5.5 million to $11.1 million over the same period.
SEA
CONTAINERS LIMITED (OTC: SCRA)
"Up 31.58% on Wednesday"
Detailed
Quote: http://www.otcpicks.com/quotes/SCRA.php
Sea Containers, Ltd. (SCL) provides passenger
and freight transport and marine container leasing. It operates in four
segments: Ferry, Rail, Container, and Leisure. Ferry segment provides
passenger and freight ferry services in the northern Baltic Sea between
Finland, Sweden, Estonia, Germany, and Russia; in the English Channel
between England and France; and in the northern Irish Sea between Scotland
and Northern Ireland. It also owns a commuter ferry service operating
in New York harbor, and a 50% interest in a ferry service in the Adriatic
Sea. Rail segment offers passenger rail transport services through Great
North Eastern Railway (GNER) in Great Britain between London and Scotland.
As of December 31, 2004, GNER operated a fleet of 42 trainsets totalling
488 cars and locomotives. Container segment's operations are principally
conducted through SCL's GE SeaCo SRL joint venture with General Electric
Capital Corporation. It offers services to liner ship operators, road
and rail operators, forwarders, and exporters. Leisure segment engages
in the ownership or part ownership and management of hotels, restaurants,
tourist trains, and river cruiseship through Orient-Express Hotels, Ltd.
The company also owns, or part owns container repair and storage depots
in Houston, Charleston, Singapore, Santos, Melbourne, and Auckland which
service SCL's and GE SeaCo's fleets, as well as containers owned by others.
In addition, SCL engages in property development, perishable commodity
production and trading, and publishing. The company is based in Hamilton,
Bermuda. On October 16, 2006, Sea Containers Ltd alongwith its affiliates
filed a voluntary petition for reorganization under Chapter 11 of the
US Bankruptcy Court for the District of Delaware, Delaware.
SCRA News:
February 5 -
Sea Containers Reaches Vital Agreement With the Trustees of the Main UK
Pension Schemes
Appeal Against the UK Regulator's FSD is Withdrawn
as it is no Longer Relevant
Sea Containers (OTC: SCRA) announced that it has reached
agreement in principle with the Trustees of the two main Sea Containers
Pension Schemes to agree the amount of their claims against the Sea Containers
estate. This is a critical and positive milestone in its efforts to emerge
from Chapter 11.
Since the Chapter 11 negotiations first began in October
2006, the board of directors and the officers of Sea Containers have been
focused on achieving a plan of reorganization that provides full and fair
settlement for all creditors. The major creditors involved are the 1983
and the 1990 pension funds which have almost 1500 members between them
and the holders - thought to be a number of US hedge funds - of the four
outstanding bond issues.
The agreement with the Trustees for the pension funds,
which are estimated to be in deficit by approximately US$200 million under
the s75 'buy out' basis prescribed by UK law, will allow the Company and
The trustees to avoid costly and protracted litigation in multiple and
potentially competing jurisdictions. The agreement also creates an additional
reserve of US$69 million for certain potential pension scheme liabilities
in respect of age-related equalization changes.
In connection with this important agreement, Sea Containers
has withdrawn its appeal against the Financial Support Direction (FSD).
The FSD, which sought to oblige Sea Containers Limited (the ultimate parent
company) to put in place additional financial support for the pension
funds, was handed down by the Determinations Panel of the UK Pensions
Regulator on 3 July 2007. Sea Containers considers that the settlement
will adequately address any FSD and that the current legal proceedings
would be of no further benefit. Sea Containers is therefore pleased to
have reached a timely and consensual settlement with the Trustees.
Sea Containers, alongside the Trustees, will be seeking
approval from the Regulator for the proposed settlement. Both sides are
confident an approval will be granted in the near future.
The proposed settlement is also subject to the Delaware
Bankruptcy Court approval and may be objected to by other creditors of
the estate. |