OTCPicks.com Stocks to Watch for Wednesday, December 5th VISRF, SUTU, EGIL, HEGP, SKNN, CRGO
Dallas, TX 12/05/2007 12:41 AM GMT (TransWorldNews)
Our Stocks to Watch tomorrow include Visiphor Corporation (OTCBB: VISRF), Sutura, Inc. (OTCBB: SUTU), Edgetech International, Inc. (OTC: EGIL), Heartland Energy Group Inc. (OTC: HEGP), Skins Inc. (OTCBB: SKNN) and Cargo Connection Logistics Holding, Inc. (OTCBB: CRGO).
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VISIPHOR CORPORATION (OTCBB: VISRF)
"Up 127.20% on Tuesday"
Detailed Quote: http://www.otcpicks.com/quotes/VISRF.php
Visiphor software products and services deliver practical, rapidly deployable solutions that integrate business processes and databases. The Company's solutions focus on disparate process and data management problems that exist in numerous verticals spanning government, energy, law enforcement, security, healthcare and financial services. Using industry standard Web Services and Service Oriented Architecture ("SOA"), Visiphor delivers a secure and economical approach to true, real-time application interoperability. Visiphor is a Microsoft Gold Certified Partner. For information about Visiphor or the Company's products and services, visit http://www.visiphor.com/.
December 4 - Visiphor Announces No Material Change
Visiphor Corporation (OTCBB: VISRF) (CDNX: VIS.V) (XETRA: IGYA.DE) ("Visiphor") reported that there are no corporate developments or undisclosed material changes involving the Corporation to account for the recent rise in stock price and increased trading volume.
SUTURA INCORPORATED (OTCBB: SUTU)
"Up 63.64% on Tuesday"
Detailed Quote: http://www.otcpicks.com/quotes/SUTU.php
Sutura, Inc., a medical device company, engages in the design, development, and manufacture of a family of suture-mediated stitching devices for vascular tissue approximation primarily in the United States and Europe. It offers a line of minimally invasive vascular suturing devices to suture vascular structures during open surgery and catheter-based procedures. The company's SuperStitch products allow physicians to close the arteriotomy or vascular tissue using fluoroscopic and/or ultrasonic guidance while working through the catheter sheath introducer or cannula, as well as direct visualization in an open setting. The SuperStitch products are indicated for use in performing vascular stitching in general surgery, including endoscopic procedures. Sutura also offers Superstitch Guidewire, which allows physicians to re-access a vessel during procedures by placing the sutures first and complete suturing the vessel after performing additional procedures. The company was incorporated in 1985 and is headquartered in Fountain Valley, California.
December 4 - Sutura Settles Patent Infringement Lawsuit With Abbott Laboratories
Sutura, Inc. (OTCBB: SUTU) ("Sutura"), a California-based medical device company, announced that it has settled a patent infringement lawsuit it had against Abbott Laboratories. The settlement provides for a cross license of the Hathaway patents, licensed to Abbott by Indiana University, and the Sutura Nobles patents. In addition, Abbott has agreed to pay Sutura $23 million as part of the settlement agreement.
"We are pleased to have reached this agreement with Abbott and resolved this patent infringement dispute with them," said David Teckman, President and CEO of Sutura. "We now look forward to moving on with our continued enhancement of Sutura's product line of vascular suturing devices, in particular the Sutura EL device."
EDGETECH INTERNATIONAL INCORPORATED (OTC: EGIL)
"Up 60.00% on Tuesday"
Detailed Quote: http://www.otcpicks.com/quotes/EGIL.php
International Building Technologies Group, Inc. engages in the manufacture and sale of building panels used in construction worldwide. It also provides site planning, architectural and engineering services, contractor services, materials, equipment, training, and supervision. The company is based in Alameda, California.
December 4 - EGIL Announces First Web Sales Channel Partner http://www.luxury.net/
Edgetech International, Inc. (OTC: EGIL) ("Edgetech" or the "Company") announced that the company has executed an agreement to distribute "The PC Edge" on http://www.luxury.net/. Luxury.net is the premier website targeting high income consumers with industry-leading lifestyle products.
"The PC Edge" will be available for sale alongside some of the most high-tech electronic products in the marketplace. Not only will "The PC Edge" be available for sale on luxury.net but it will be featured as the Hot New Product for the 2007 Holiday Season.
"The PC Edge" is a unique, handheld, stand alone wireless unit with a built-in modem and full-screen display providing High Speed Internet Access.
Luxury.net CEO, Kenneth Green, stated, "We are very excited to add "The PC Edge" to our product portfolio. We believe this new innovative mobile computing solution will be a sales leader for this Holiday Season and beyond."
Edgetech VP of Sales, Keith R Jones, stated, "Our focus on the Web Sales Channel has led us to this relationship with luxury.net. The consumer profile of the luxury.net customer matches our marketing focus on the High-Income Mobile Professional. Luxury.net is not only our first Web Sales Channel Partner, but Mr. Green has provided our organization with valuable Internet marketing consulting."
HEARTLAND ENERGY GROUP (OTC: HEGP)
"Up 50.00% on Tuesday"
Detailed Quote: http://www.otcpicks.com/quotes/HEGP.php
Heartland Energy Group, Inc. operates as an alternative fuel resource and services company in North America. It primarily engages in the development of infrastructure for the delivery of ethanol. The company also markets and sells various alternative energy-related products, including home- and farm-based ethanol stills, bio-diesel production kits, and various ancillary alternative energy-related products in Louisiana. Heartland Energy Group is based in Alexandria, Louisiana.
December 4 - Heartland Energy (HEGP) Chooses Transport Co. for E-85 in Illinois
Heartland Energy Group Inc. (OTC: HEGP) announced that it signed a deal with Promise Transport, Inc. to be the carrier of choice for its alternative fuels in the state of Illinois.
Promise transport is a well-respected transportation company in the state of Illinois. This contract gives HEGP the ability to transport more than 50,000 gallons of alternative fuels per day. Heartland Energy has been soliciting independent fuel stations throughout the state in an attempt to have them designate a section for E-85 and other flex fuels.
Roy Thornhill stated, "This strategic alliance is another positive step in Heartland's goal of increasing the number of stations across the country offering alternative fuels."
About Promise Transport:
Promise Transport's main hub is located in El Paso, IL. They are a family run business that has been serving customers east of the Rocky Mountains for over 10 years. They have a fleet of 12 trucks each capable of transporting 8,000 gallons of alternative fuels.
SKINS INCORPORATED (OTCBB: SKNN)
"Up 45.77% on Tuesday"
Detailed Quote: http://www.otcpicks.com/quotes/SKNN.php
Skins, Inc., a development stage footwear company, engages in the design, manufacture, and marketing of men's and women's footwear. It is developing a footwear product, including two-part footwear structure consisting of an outer collapsible "Skin" and an inner orthopedic support section called the "Bone." The company was founded in 2004 and is headquartered in New York, New York.
December 3 - Skins, Inc. Strikes Agreement with Atsco Footwear
On November 28, 2007, Skins Inc. (OTCBB: SKNN) (the "Company") executed a Buying Agency and Sourcing Agreement (the "Agreement") with Atsco Footwear, LLC ("Atsco"). Pursuant to the Agreement, Atsco will serve as the Company's non-exclusive buying and sourcing agent and will be responsible for sourcing, commercialization and product line review. The Company will pay Atsco a commission of 7% of the $5 million and 5% for the amounts above the first $5 million at the FOB country of origin price for merchandise sourced by Atsco and shipped to the Company.
The Agreement has an initial term of one year, from November 15, 2007 through November 15, 2008, and each party has the option to extend the initial term of the Agreement for an additional year upon providing written notice to the other party no less than thirty days prior to the expiration of the initial term. Either party may terminate the Agreement at any time upon providing the other party with three months written notice.
Mark Itzkowitz, the President of Atsco, is also an advisory member of the Board of Directors of the Company.
CARGO CONNECTION LOGISTICS HOLDINGS (OTCBB: CRGO)
"Up 35.00% on Tuesday"
Detailed Quote: http://www.otcpicks.com/quotes/CRGO.php
The Company, through its subsidiaries Cargo Connection Logistics Corp. and Cargo Connection Logistics International, Inc., is a leader in world trade logistics. The Company headquarters is in Inwood, NY, and it also has offices in Atlanta, GA; Charlotte, NC; Chicago, IL; Columbus, OH; Miami, FL; New York, NY; Pittsburgh, PA.; and San Jose, CA. Headquartered adjacent to JFK International Airport, the Company is a transportation logistics provider for shipments imported into and exported out of the United States, with service areas throughout the United States and North America. The Company currently provides a comprehensive variety of transportation and warehouse capacity services to shippers throughout the nation. It also operates a bonded General Order warehouse in New York and Container Freight Station operations, which are specifically designed to handle internationally arriving freight for major retail suppliers through its facilities in Florida, Georgia, Illinois, New York and Ohio. Cargo Connection Logistics' website is http://www.cargocon.com/.
December 4 - Cargo Connection Logistics Holding, Inc. Announces Steps to Improve Operations and Facilitate Growth
Cargo Connection Logistics Holding, Inc. (OTCBB: CRGO) (Berlin: CD6.BE) (Frankfurt: CD6.F) (Frankfurt: 217026.F) provided an update on several areas of great interest relating to the Company, its operations and its anticipated future growth.
Jesse Dobrinsky, the Chairman and CEO of the Company, stated that:
"In our continuing efforts to increase the value of the Company to our stockholders, we have taken several recent steps that have improved the Company's financial condition, operations and prospects, including:
-- We have replaced the factoring facility that was in place for our Cargo Connection Logistics Corp. subsidiary, our primary operating subsidiary. We have entered into a new factoring agreement with Wells Fargo Business Credit, which increases our factoring capacity and provides more favorable terms, including a lower cost of funds.
-- In addition, we have jettisoned certain portions of our business that were not profitable and have replaced them with business that provides a positive return for the Company. Through this process we are also reducing our dependence on some of our larger customers, making us less vulnerable to the impact of any major customer on our revenues and earnings.
-- We have amicably resolved a dispute with the landlord of our Miami facility.
-- We continue to pursue our proposed acquisition of Fleet Global Services, Inc. We recently loaned Fleet Global $300,000 and we received from it a one-year promissory note bearing an annual interest rate of 11 percent. We expect that amount of the note would be applied toward the cash portion of the purchase price of Fleet. We are continuing to attempt to raise sufficient capital to fund this acquisition.
-- Once the Fleet Global acquisition is complete, ITG, which is a joint venture that the Company had set up for exactly Fleet Global's kind of agent operation, will finally have the opportunity to get off the ground. We expect that it will get a major boost from Fleet Global's existing operations.
-- We have made many sacrifices at the corporate and operational level, including payroll reductions and executive salary deferrals.
-- In light of disappointing results in our international division, we have furloughed several personnel. While we still believe that our international division has great promise, we intend to continue to approach growth in this area of our business cautiously. In the meantime, we have directed our focus to growth in domestic sales.
-- We have made concerted efforts to evaluate each aspect of our business and in the process we have reduced costs in areas that have not been producing sufficient revenue or operating profitability. We continue to constantly evaluate each aspect of the Company with respect to its performance and sustainability.
-- We have increased head count in our Chicago facility to accommodate the new business operations there that began operating in mid 3rd quarter 2007.
-- We continue to develop and demonstrate a prototype of our new Rad-rope(TM) product to both government and private enterprise potential customers, and believe that we have received a great deal of interest in this product. The developer of this technology continues to support the device and is assisting in the changes that have been requested by potential customers.
-- All executive officers and directors have refrained from selling any shares of Company stock
Mr. Dobrinsky continued: "In light of all the progress we have made, as described above, we are confident that we are on the right track and that we will succeed. We are continuing to explore new sources of financing, which we expect would be critical to our performance, including allowing us to complete our proposed acquisition of Fleet Global, which we believe in itself would dramatically improve the Company's revenue base, results of operations and financial condition."
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