AKES,
IAHL, BWNR, WTER, PAVC, RGRP
Our Stocks to Watch tomorrow include
Akesis Pharmaceuticals, Inc. (OTCBB: AKES), IAHL Corporation (OTC:
IAHL), Brownstone Resources Inc. (OTC: BWNR), Water Chef, Inc. (OTCBB:
WTER), Paivis Corp. (OTC: PAVC) and ROO Group (OTCBB: RGRP) .

AKESIS
PHARMACEUTICAL (OTCBB: AKES)
"Up 56.25% on Monday"
Detailed
Quote: http://www.otcpicks.com/quotes/AKES.php
Akesis Pharmaceuticals, Inc., a biopharmaceutical
company, engages in the discovery, development, and commercialization
of complementary and alternative therapies for the treatment of carbohydrate
intolerance in the United States. Its products are used primarily in the
treatment of three forms of carbohydrate intolerance, including Type II
diabetes, Syndrome X, and impaired glucose tolerance and their associated
complications. The company provides HEALTHPROPAK, a patented combination
of micronutrients, which address health needs, health-maintenance issues,
and aspects of general health and well-being. Akesis Pharmaceuticals product
candidates in development comprise AKP-111, AKP-201, AKP-310, and AKP-411.
The company was founded in 1990 and is based in La Jolla, California.
AKES News:
March 17 -
Akesis Pharmaceuticals Provides Preliminary Data from Phase IIa Trial
of AKP-020 for Type 2 Diabetes
Akesis Pharmaceuticals, Inc. (OTCBB: AKES), an emerging
diabetes drug-development company, disclosed preliminary data on patients
in its placebo-controlled Phase IIa trial designed to test the safety
and efficacy of AKP-020, a novel vanadium compound, in patients with Type
2 diabetes.
To date, Akesis has dosed an initial four Type 2 diabetic patients, two
of whom were dosed with AKP-020 and two of whom were dosed with a placebo.
Fasting plasma glucose (mg/dL):
Treatment Day -1 Day 2 Day 7
Subject 1 AKP-020 157 139 128
Subject 2 Placebo 143 148 151
Subject 3 AKP-020 276 212 130
Subject 4 Placebo 157 142 165
Oral glucose tolerance test (OGTT) plasma glucose (mg/dL) 2 hours after
challenge
Treatment Day -1 Day 2 Day 7
Subject 1 AKP-020 263 264 217
Subject 2 Placebo 317 269 307
Subject 3 AKP-020 483 378 265
Subject 4 Placebo 291 255 291
Day 1 data was collected the day before patients were
dosed. Day 2 data was collected 24 hours after a single 20 mg oral dose
of AKP-020 or placebo, and Day 7 data was collected after 7 daily administrations
of 20 mg oral dose of AKP-020 or placebo.
The American Diabetes Association has defined that either
of the following criteria is sufficient to establish the diagnosis of
diabetes mellitus: 1) a fasting plasma glucose ≥126 mg/dL; 2) a 2-hour
post-load glucose level of ≥ 200 mg/dL during a 75-g OGTT. Diabetes
Care Vol. 30 Suppl 1, Jan 2007, S42-S47.
“We are encouraged by these promising preliminary
results, but we also recognize the early stage of our Phase IIa trial
and continue to recruit patients and analyze the data,” said Jay
Lichter, president and chief executive officer of Akesis.
dgd Research of San Antonio, TX, now a member of Cetero
Research, is conducting the Phase IIa trial for AKP-020. The trial will
enroll a total of 21 diabetic patients at a single site measuring efficacy
(using the gold-standard euglycemic-hyperinsulinemic clamping procedure),
as well as pharmacokinetic parameters, safety and tolerability of AKP-020
in diabetic patients.
AKP-020 is the product designation for a novel
vanadium compound otherwise known as bis(ethylmaltolato)oxovanadium (IV),
or BEOV. The compound was invented and developed by University of British
Columbia researchers Chris Orvig, professor of chemistry and pharmaceutical
sciences, and John McNeill, Ph.D., professor and dean emeritus, pharmaceutical
sciences, and is licensed exclusively to Akesis Pharmaceuticals. Professors
Orvig and McNeill, who are experts in the study of metal chemistry and
pharmaceutical sciences, helped to advance the BEOV program through Phase
I clinical trials. They also are members of the Akesis Scientific Advisory
Board.
IAHL
CORPORATION (OTC: IAHL)
"Up 40.00% on Monday"
Detailed
Quote: http://www.otcpicks.com/quotes/IAHL.php
IAHL Corporation holds major proprietary and technological
patents for certain aircraft that, once implemented, will astound the
aircraft industry; the target market of the company is the under-served
rural areas of the world. The company's current share structure is as
follows:
Authorized Shares — 70,000,000
Preferred Shares — 20,000,000
Common Shares — 50,000,000
The company does not intend to change the capital
structure of the company in any fashion, except the possible reduction
of authorized common shares to better reflect and bolster the true value
of the company, its assets and business operations.
IAHL News:
March
17 - IAHL Corporation
Announces Share Buy-Back Program
IAHL Corporation (OTC: IAHL) announced that its Board
of Directors has approved a share buyback program of up to 8,000,000 shares.
The shares will be purchased from the open market and in private transactions
if the Company deems the price appropriate.
Peter Van Dyke, Chairman, said, "I believe that
at current market price, the buyback of some of our stock will provide
our shareholders with a better return on their investment based upon pending
acquisitions. The pending acquisitions are extremely lucrative and will
prove out my foresight."
Mr. Van Dyke also stated, "That the company will
aggressively pursue all obtainable shares as it is certain that once certain
acquisitions are completed, shares of his companies' stock will substantially
increase in value."
BROWNSTONE
RESOURCES INCORPORATED (OTC: BWNR)
"Up 35.71% on Monday"
Detailed
Quote: http://www.otcpicks.com/quotes/BWNR.php
Brownstone Resources Inc., is a junior
mineral resource exploration company involved in the exploration and development
of potentially mineral rich properties in both North and South America.
The efforts of the Company are focused on the development of our existing
mining claims, added shareholder value through acquisitions, and continuous
and ongoing exploration for new resources in select prominent mining regions.
Brownstones management team, made up of geologists, mining executives
and industry professionals, are working to put together an attractive
group of holdings, with a focus on gold and uranium. We have developed
an aggressive exploration program for our Iron Bridge Uranium project,
located in the Nouvel Township, Northern Ontario, Canada. The company’s
long term goals are to create maximum shareholder value by continuing
to build a strong base of properties. The company has not yet determined
whether its properties contain ore reserves that are economically recoverable.
BWNR News:
March
17 - Brownstone
Resources Inc. Makes Announcement
Brownstone Resources Inc. (OTC: BWNR), a junior mineral
resource exploration company, is proceeding with exploration on their
fully optioned prospective uranium claims, located just outside of Elliot
Lake, Ontario.
The first phase of exploration will consist of an airborne
survey to better define previously identified areas of interest for development.
The airborne survey will enable the company to better understand the area
of interest, and help to further define the known anomalies, as well as
satisfy the exploration commitments as per the agreement.
Regarding the Arizona gold mining claims, the company
has now completed the due diligence on the property, more specifically
on the ownership, previous exploration and government approvals and permits
required to move to the next stage of exploration.
Having fully satisfied their contractual requirements
regarding the due diligence, Brownstone now plans to secure and mobilize
a diamond drilling rig onto the property to test the targeted area within
the mineralized zone, as per their agreement.
WATER
CHEF INCORPORATED (OTCBB: WTER)
"Up 29.41% on Monday"
Detailed
Quote: http://www.otcpicks.com/quotes/WTER.php
Water Chef, Inc. engages in the design,
marketing, and sale of water dispensers and purification equipment in
the United States and internationally. It offers a line of PureSafe water
purification systems. The company's product, PureSafe Water Station is
a turn-key unit that converts gray or bathing grade water into EPA grade
drinking water by eliminating various living pathogens, including bacteria,
cysts, viruses, and parasites that pollute non-processed water. Water
Chef is headquartered in Melville, New York.
WTER News:
March 17 -
Malcolm Hoenlein to Join the Board of Directors of Water Chef, Inc.
Leslie J. Kessler, President and Chief Executive Officer,
Water Chef, Inc. (OTCBB: WTER) announced the appointment of Malcolm Hoenlein
to the Board of Directors of the Company.
Mr. Hoenlein is the Executive Vice Chairman/CEO of the
Conference of Presidents of Major American Jewish Organizations, the coordinating
body on national and international Jewish concerns for 52 national Jewish
organizations. He was on the editorial board of ORBIS, the Journal of
International affairs and a Middle East specialist at the Foreign Policy
Research Institute. Mr. Hoenlein serves as an advisor to many public officials
and is frequently consulted on public policy issues. He appears regularly
in the media and has traveled throughout the world meeting governmental,
business and world leaders. He is a recipient of many awards and tributes
and serves on the boards of various companies including Bank Leumi USA,
Keryz Pharmaceuticals, ODF, and Manhattan Pharmaceuticals.
Mr. Hoenlein holds a B.A. in Political Science from
Temple University and a Masters degree from the University of Pennsylvania’s
Department of International Relations, where he completed his doctoral
course work.
As Ms. Kessler has stated, “This appointment
adds a valuable resource to the Company’s leadership and will open
new avenues to business opportunities for Water Chef, both- domestically
and internationally.”
PAIVIS
CORPORATION (OTC: PAVC)
"Up 32.00% on Monday"
Detailed
Quote: http://www.otcpicks.com/quotes/PAVC.php
Paivis Corp., a facility-based wholesale
telecommunications carrier, delivers application/value-added services
in the prepaid services market. It sells telecommunications products and
services, such as prepaid calling cards, prepaid wireless service, and
international wholesale terminations. The company also owns and operates
a carrier-class prepaid calling platform, including 2 NACT phone card
switches integrated with the voice over Internet protocol system dedicated
to domestic and international termination and origination of calls. As
of September 30, 2006, the company's products are sold through approximately
3,000 retail outlets in the United States. Paivis Corp. is headquartered
in Atlanta, Georgia.
PAVC News:
March 17 -
Trustcash Holdings, Inc. Releases the Third Segment of Its Chairman's
Letter to Its Shareholders and Shareholders of Paivis, Corp.
"Merger and Integration to Produce a Solid
Foundation for Generating Earnings"
Trustcash Holdings, Inc. (OTCBB: TCHH) ("TRUSTCASH")
released the third segment of a letter from its Chairman, Dennis Shafer,
to its shareholders and the shareholders of Paivis Corp. ("PAIVIS")
(OTC: PAVC):
Dear Trustcash and Paivis Shareholders:
Recently Trustcash and Paivis announced a plan to
commence working together for future integration purposes, etc. This
forward thinking of both management teams shows a commitment to not
only closing the merger but prepping for the building of a solid foundation
to support growth towards the ultimate goal of generating earnings for
our soon to be combined shareholder base.
The following provides more detail and insight into
the opportunity before us in combining with Paivis and their pending
acquisitions.
Operational Efficiencies:
The integration of four companies with a common market,
similar transaction processing technology, and common administrative
functions immediately creates an opportunity for cost reduction and
improved cash flow through operational consolidation.
We believe a combined revenue base of $73 million
can be generated with less than half the current operational expenses,
potentially resulting in an immediate gain of 50% in net operating income.
Scale economies can also support enhanced customer
service and competitive pricing...both key success factors in the debit
card and phone card industries.
Technology Enhancements:
Combining the information systems technologies of
four companies, all involved in high volume consumer payment transactions,
provides an opportunity to develop a leading edge technology platform.
This technology platform can be used to provide superior customer service,
support new mobile and prepaid card applications, and provide an infrastructure
for 'bolt-on' acquisitions of similar businesses in a fragmented market.
Expand Distribution:
All the products of the merged company can be sold
through similar retail outlets. Consolidating sales and distribution
efforts across potentially tens of thousands of retailers results in
a national network of stored value cards available to a cash-based market.
In addition, the power of the Trustcash web site (www.trustcash.com)
can be used to generate additional traffic to these retail outlets.
Each merger partner can also distribute its products
through all partners in the merger: Trustcash cards can be purchased
through mobile cards owned by any Paivis phone card holder, and phone
cards can be purchased using Trustcash virtual cash cards obtained through
any Trustcash web site partner or retail location.
Build Brands:
The Trustcash brand is synonymous with security and
privacy...both important benefits to a cash-based market, and a key
competitive benefit in the phone card industry which has a history of
consumer abuse. This brand can be used in conjunction with Paivis brands
to create a greater market presence as well as cross-marketing each
brand and its products to the other offerings. Joint POS marketing,
media advertising, internet advertising, and word-of-mouth in a common
market of immigrants and credit-restricted consumers will reinforce
the impact of the merged company.
Expand Markets:
As a combined market and user base grows, the merged
company will be in a position to rapidly expand its franchise to young
adults and other cash-based consumer markets. In addition, a combined
user base of over 100,000 consumers will further attract additional
retailers, both physical and web based. The Trustcash web site will
become a portal and a central location for a cash-based market to look
for goods and services, while phone cards can be used to co-market all
products and also to pay for Trustcash cards. This will ultimately provide
an opportunity for the Trustcash card to expand to a multipurpose debit
card for in-store purchases, and a general purpose gift card.
Acquisitions:
The stored value card market is very fragmented with
some 2,000 different programs and providers. As Trustcash and its associated
brands become the leader in the cash-based market, additional acquisitions
will be targeted to expand the franchise into payroll cards, government
payments, bill payments, money transfers, and other payment transactions.
Summary Facts:
* $100 billion plus e-Commerce market
* $171 billion closed-loop stored value card market
* $6 billion phone card market (according to an Atlantic-ACM report)
* Common cash-based market of 100 million consumers
* $73 million combined revenue
* 100,000 users
* Potential of over 70,000 retail outlets
* Common transaction processing and administrative functions
* Consolidated powerhouse in a fragmented market
* Integrating four of the leading growth industries: stored value
cards, wireless services, Internet and e-Commerce, and
cash-
based payment transactions
In summary, we believe we are clearly headed towards
a closing of a transaction that has the potential to be a major value
provider for our shareholders.
Sincerely,
Dennis Shafer
Chairman
Trustcash Holdings, Inc.
ABOUT TRUSTCASH
Through its Trustcash brand and website
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 online through
any of over 500 websites. 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.
ROO
GROUP INCORPORATED (OTCBB: RGRP)
"Up 20.25% on Monday"
Detailed
Quote: http://www.otcpicks.com/quotes/RGRP.php
ROO Group, Inc., through its subsidiaries,
operates as a digital media company in the United States. The company
provides products and solutions that enable the broadcast of topical video
content from its customers' Internet Web sites. It provides technology
and content required for video to be played on computers through the Internet,
as well as broadcasting platforms, such as set top boxes and wireless
devices. ROO Group's activities include the aggregation of video content,
media management, traditional and online advertising, hosting, and content
delivery. It operates a global network of individual destination portals
under the brand ROO TV that enables end users to view video content over
the Internet. The company, together its subsidiaries, also services Web
sites based in Europe, Australia, the United States, and Asia. In addition,
it provides integrated communication solutions, including direct marketing,
Internet advertising, and sales promotion. The company sells its products
and services through direct sales force and resellers to media and newspaper
chains, Internet service providers, and vertical Web sites. ROO Group
was founded in 1998 and is based in New York, New York with additional
offices in Los Angeles, California; South Melbourne, Australia; and London,
the United Kingdom.
RGRP News:
March
17 - ROO to Consolidate
Digital Media Services Subsidiaries, Simplify Capital Structure, Appoint
New President
- Company to exercise option to consummate ownership
of Sputnik Agency subsidiary
- Sputnik Managing Director Gavin Campion appointed
President of ROO
- Management to hold conference call on Wednesday,
March 19th at 9 a.m. ET
ROO Group (OTCBB: RGRP) announced that it intends to
streamline its ownership and management structure through several initiatives:
* The appointment of Gavin Campion, the managing director
of Sputnik
Agency Pty. Ltd., as president of the overall company;
* The exercise of its right to complete the purchase of 51% of its
Sputnik subsidiary;
* The execution of an agreement in principle to acquire the remaining
49% of Sputnik and the subsequent consolidation of Sputnik and
subsidiary ROO Media Corporation;
* Elimination of the 10 million preferred class of super-voting shares
through a preferred-to-common conversion or other plan to be proposed
and voted on by a majority of the common shareholders;
* The consolidation of all international subsidiaries into a wholly-owned
Dubai subsidiary; and
* The relocation of its corporate headquarters/executive management from
New York and Australia to Dubai.
These initiatives are consistent with ROO's previously
stated goals of simplifying the Company's ownership structure and reducing
management layers. The integration of Sputnik with ROO's online video
player business will allow the Company to better provide corporate customers
with a suite of online video enablement and marketing solutions, and the
consolidation of executive management in Dubai underscores ROO's international
revenue mix * with more than 85% of current revenues coming from outside
North America.
Kaleil Isaza Tuzman, chief executive officer of ROO
Group and managing partner of KIT Capital, commented, "From the first
day that new management of ROO came on board two months ago, we have committed
to shareholders that we would (a) control and reduce costs, (b) put the
company on a near-term path to profitability, and (c) simplify the capital
structure in a fair and transparent way. Given what appears to be some
market misperception surrounding our current restructuring initiatives,
we felt this would be a good time to re-iterate certain elements of our
plan, and announce our intent to consolidate our profitable Sputnik subsidiary."
Isaza Tuzman continued, "Pursuant to the common
shareholders approving a plan for elimination of the preferred class of
shares, KIT Capital plans to execute on its investment of $5.0 million
in primary common shares at $0.16-in accordance with its management contract
with the company filed on December 18, 2007. With approximately $7.1 million
of cash as of March 10, 2008-prior to the KIT Capital investment-and steadily
reducing burn levels, we feel the company is in a strong financial position
to execute its growth strategy."
A conversion ratio of 3.2 common shares for each preferred
share is currently being presented to common shareholders, but the Company
remains open to other proposals that may be independently developed on
a timely basis by the common shareholders.
In accordance with its management contract with the
Company of December 18, 2007, KIT Capital has the right to acquire 51%
(5.1 million) of the preferred shares at $0.38/share, which would equal
approximately 16.3 million of common shares at an average costs basis
of $0.12/share, assuming the 1-to- 3.2 preferred-to-common conversion
ratio is applied.
The Company currently has 38.9 million common shares
outstanding, which would increase to approximately 70.9 million provided
the 1-to-3.2 preferred- to-common conversion ratio is affected. The additional
dilutive effect of the aforementioned KIT Capital investment of $5.0 million
at $0.16/share would be 31.3 million shares, resulting in a pro forma,
simplified capital structure of 102.2 million common shares. At that point,
based on cash levels of March 10, 2008, the company would have approximately
$12.1 million of pro forma cash on hand, and a pro forma market capitalization
of $9.2 million (based on the closing price of the Company's common shares
as of Friday, March 14, 2008 of $0.09).
To the extent the Company were to engage in further
equity financing, it is anticipated that such financing would be in the
context of funding strategic acquisitions.
As part of the Company's effort to streamline management,
Gavin Campion, current managing director of Sputnik, has been appointed
president of ROO, effective immediately. In conjunction with Mr. Campion's
appointment, the Company is also announcing the relocation of its corporate
headquarters and senior executive team to Dubai, UAE.
Mr. Campion, 35, has served as managing director of
Sputnik since 2006. Under his leadership, Sputnik won B&T Interactive
Agency of the Year in 2007. In 1999, he co-founded current ROO subsidiary
Reality Group in Melbourne, Australia. Since that time, Reality Group
has attracted blue-chip advertising clients such as Holden (General Motors),
BP, TABCORP, Saab Australia, Tontine and Dennis Family Corp. Mr. Campion
has also served as CEO of Shoppers Advantage, a leading Australian e-commerce
company, and as a director of Presidential Card, Australia's largest discount
loyalty program.
Campion will have full responsibility for ROO Group's
sales, operations and administration, reporting directly to Isaza Tuzman.
He will also take the lead role in fully integrating the operations of
Sputnik into ROO Group.
"The best thing about our current roster of moves
is the appointment of Gavin to the presidency role," said Mr. Isaza
Tuzman. "His operational discipline and business development instincts
are second-to-none and his interactive marketing experience will be of
great value in differentiating ROO from our competitors - as we focus
on an integrated video enablement and marketing approach for enterprise
clients. Gavin built a profitable business for us in the Asia-Pacific
region, and we hope to see that quickly replicated across the global platform."
Campion commented, "Sputnik has acquired its market
leading position by consistently offering corporate clients the most innovative
solutions for monetizing their online assets. The key is to sell into
our clients at the 'revenue line' with creative solutions for monetizing
video, and not get stuck at the 'cost line' as strictly a software vendor.
I believe that combining Sputnik's brand and creative services expertise
with ROO's software and online video technology offers tremendous growth
opportunities for the combined entity." |