OTCPicks.com Stocks to Watch for Thursday, December 11th
HGLC,
CTIC,
NHWK,
MKTY,
OEGY,
PMII Our Stocks to Watch tomorrow include Hunt Gold Corporation (OTC:
HGLC), Cell Therapeutics Inc. (Nasdaq:
CTIC), NightHawk Radiology Holdings Inc.
(Nasdaq:
NHWK), Mechanical Technology Inc. (Nasdaq:
MKTY), Open Energy Corp. (OTCBB:
OEGY) and Power Medical Interventions Inc. (Nasdaq:
PMII).
Visit http://www.otcpicknews.com/otpmail/link.phpM191&N0&L9 to register for our Daily Market Mover`s Digest Newsletter, and Email Stock Watch Alerts.
HUNT GOLD CORPORATION (OTC:
HGLC) "Up 100.00% on Wednesday" Detailed Quote: http://www.otcpicknews.com/otpmail/link.phpM191&N0&L3 Hunt Gold Corporation is a Gold Mining & Exploration Company focused on the development and exploration of its Gold properties, namely "Mockingbird," "Ambassador," "Golden Eagle," "American Molygold," "Gladstone Lookout," "Lady Alde," "Lookout Silver," "Starlight," "American Flag," "Venezia," "Stormcloud," "Cherry," "Buffalo Limecap," "Red Cloud" and "Federal" interests.
HGLC News:
November 18 - Hunt Gold Corporation Provides Mining Update Hunt Gold Corporation (OTC:
HGLC) provided a very brief overview of its Gold Mining Properties and the initial exploration plans to assist stockholders in analyzing the Company:
Stockholders will be in a position to download very comprehensive reports on each of these Gold Mining Properties from the Corporate web site as they are completed by Professor Colliston and the Company`s Geologists. This is a very brief overview in order to assist stockholders prior to those reports being made available.
Stockholders will note that a number of the Company`s Gold properties are historic producers, do not require infrastructure to be built to bring these mines back to production and that actual Mining will be relatively inexpensive on these particular Gold Properties.
1. Mockingbird The Mockingbird Project consists of approximately 2,500 acres of mineral rights located in the heart of the historic Mockingbird Mining District, which is about 50 miles southeast of Las Vegas. The project area is about 5 miles west of the major Las Vegas / Phoenix highway and within 10 miles of the Colorado River. There is a high voltage power line immediately north of the property.
Geology:
The "Mockingbird" gold deposit is a detachment fault deposit.
Mineralization is primarily located in the lower plate, which is comprised of Precambrian rocks over 1 billion years of age. The mineralizing event was regional crustal extension along the Mockingbird fault, which occurred about 15 million years ago. Detachment fault deposits were first recognized as a separate form of gold deposit in the 1980s. The best example of an Arizona detachment gold deposit is Copperstone, which, like Mockingbird is in the highly extended Western Arizona terrain near the Colorado River. Copperstone was the biggest gold discovery in Arizona in at least 50 years. Cyprus Gold profitably mined the 500,000 oz. gold Copperstone open pit resource during the 1980s, and another mining company is presently assessing the feasibility of mining the comparable sized underground gold resource at Copperstone.
Unlike Copperstone, Mockingbird is a historic gold producer. 15,000 ounces were produced by the Mockingbird District from high grade ore. A majority of this production was from the Mockingbird Mine, which is the centerpiece of Hunt Gold Corporation`s land position. Other mines producing gold were the Great West, Hall (Dandy) and Pocahontas Mines, all of which are included in Hunt Gold Corporation`s claim block.
Exploration Activities to Date:
Starting in the 1980s there has been a great deal of exploration work at Mockingbird, starting with Gulf Mineral Resources, and later by Anaconda, which estimated the deposit at 10,000,000 tons of .05 to .1 oz / T gold. This means the deposit is in the range of 500,000 to 1,000,000 ounces of gold, approximately the same size as Copperstone.
Exploration Program:
Hunt Gold Corporation has obtained much of Anaconda`s work product, and is commencing a drill campaign to test the high angle vein structures at the Great West, Dandy and Pocahontas Mines. The Company will also be conducting soil geochemical and geophysical surveys (including ground magnetic) in the area of the former Anaconda claims preparatory to a second drill campaign in 2009.
2. Golden Eagle The Golden Eagle property is located in Imperial County, California a few miles west of Yuma, Arizona. It is geographically located between and on trend with the Mesquite gold mine and the Picacho gold mine.
Mesquite was mined by Newmont for over 15 years and produced 154MM tons of ore at an average grade of .026 OPT, for a total of 4MM ounces gold.
Newmont proved an additional 42.9MM tons at .021 OPT, which the present owner plans to develop. Picacho was the flagship gold mine of Glamis Gold, producing 388,000 ounces of gold from 1981 until the mine`s closure in 2000.
Geological Setting:
The regional geological setting is dominated by a major low angle fault system that occurs throughout the southeastern Chocolate Mountains, and which is commonly known as the Sortan fault. At the Golden Eagle property, this structure connects with a similar structure to the north. Most of the gold occurs in a breccia unit related to the Sortan fault that strikes northwest, dips northeast and juxtaposes Jurassic Winterhaven Formation against lower plate gneisses which have been extensively intruded by biotite alaskite phases of the Marcus Wash per aluminous granitic complex.
Past Production:
Previous production of gold and silver came from two shafts on the property.
Exploration Program:
Geochemical work by MagnaChem Exploration demonstrated the similarity of the mineralization at Golden Eagle to the arsenic-rich per aluminous gold systems at both Mesquite and Picacho. Hunt Gold plans geochemical and geophysical work (including ground magnetic) in order to confirm prior exploration results and identify drill sites.
3. Ambassador The Ambassador Gold Project is located near Prescott, Arizona in the Black Hills Mining District, which is south of the Verde Mining District and west of the Cherry Creek Mining District. Each of these districts has seen significant past production of gold, silver and copper. Well-known area mines include the United Verde, United Verde Extension, Yaeger, Monarch and Logan Mines.
Geology:
The regional geological setting is predominantly Precambrian, with an embayment of quartz diorite bounded by schist to the north and east and by the Shylock Fault Zone to the west. The principal types of gold deposits are (1) Precambrian gold-quartz veins in igneous rocks (the type of deposit at the Ambassador), (2) Mesozoic or Tertiary gold and gold-silver veins in metamorphic rocks and (3) scattered Precambrian gold-quartz-tourmaline volcanogenic massive sulfide ("VMS") deposits.
In the Ambassador Gold Project area, the dominant rock type is quartz diorite. In the western part of the claim block (West Hills), dikes of granodiorite porphyry cut across the quartz diorite. At the Ambassador mine and in the East Hills Area east of the mine, there are gold-quartz hypothermal veins, which were deposited under conditions of high temperature and pressure, probably genetically related to the later stages of emplacement of the Precambrian age quartz diorite mass.
Past Production:
Several thousand ounces of gold were produced at the Ambassador Mine from approximately 20,000 tons of ore by two operators from 1900 to 1940.
Exploration Program:
Past exploration by UNC focused on sampling of the underground workings of the Ambassador Mine, and also delineated mineralized areas for further exploration in the East Hills and the West Hills. The sampling showed excellent gold grades at the mine exposures and the potential for developing an economic ore deposit of over 1,000,000 ounces of gold and gold equivalent silver and copper credits through a staged exploration program. An initial geochemical and geophysical program is planned to confirm past work by UNC and plan future drilling on the property.
4. Gladstone Lookout Near Prescott, Arizona, the Gladstone Lookout is adjacent to the Gladstone McCabe Mine, which produced, from 1880 to 1926, at least 62,800 ounces of gold and 779,000 ounces of silver. The Gladstone McCabe was reopened during the 1980s by Stan West and later sold to a subsidiary of BHP. Reportedly, Stan West used a suboptimal recovery method, leaving gold values in the tailings (initial estimate of over 100,000 tons at .036 oz. gold per ton) that could be recovered with more effective methods. The 460 acre claim block also includes a 50% interest in the mineral rights of the patented Lady Alde gold mine, as well as the Lookout Silver Mine. The Lookout is on the same vein as the Arizona silver mine, which produced over $4,500,000 of silver, with grades up to 20 ounces per ton.
Geology:
These claims are located in a 3,000 foot long mineralized zone lying within the Precambrian Spud Mountain volcanic.
Past Production:
The Lookout Mine is a past producer of gold, silver, copper and lead.
The most recent period of operation was in the late 1970s and early 1980s, when shipments of concentrates milled at the mine were made to the Asarco smelter in El Paso.
Exploration program and potential:
Hunt Gold Corporation plans preliminary geochemical and geophysical work centered on the Lookout Mine. The target would be another Gladstone McCabe type deposit, which was mined to a depth in excess of 1,100 feet and produced ore of average grade of 1.6 oz / T gold, 10.2 oz / T silver, 2% copper, 2.1% lead and 4.7% zinc.
5. Starlight, American Flag, Venezia and Stormcloud Mines (Hassayampa Gold Project) These properties are located in the Hassayampa Mining District, approximately 15 miles south of Prescott, Arizona. Spread over 800 acres are the Starlight, American Flag and Venezia gold mines, as well as the mineral rights to the Stormcloud group of 13 patented mining claims. The Venezia Mine is located right off Senator Highway, with the Starlight and American Flag properties located up Starlight Canyon from Venezia. Stormcloud is immediately east of the Senator Mine.
Geology:
These are Precambrian deposits located in Yavapai schist, rhyolite and granodiorite. There are veins on the rhyolite / schist contact, which range in width from 2 feet to 10 feet. Vein filling is quartz and ore occurs in the form of chalcopyrite carrying both gold and silver. Past production was reported together with the neighboring Senator Mine, formerly owned and operated by Phelps Dodge, and exceeds $10,000,000 in current dollars.
Past Production:
Each of the Hassayampa Properties is a past producer.
The Starlight and American Flag produced gold, silver, lead and zinc from high grade ore from the 1920s until the 1940s.
Venezia produced gold and silver from high grade ore starting in the 1890s. Production also continued until the 1940s.
The Stormcloud was first operated as a gold mine in the 1880s; substantial production of 1 oz. / T (high grade) gold ore resulted. It was also operated from 1900 to 1907, from 1924 to 1929 and from 1935 to 1939. During the latter two periods of operation the tonnage mined was 14,200 tons with the average value of $13 per ton (over $400 per ton at 2008 gold prices).
Exploration Program:
Initial exploration will focus on the Venezia and Starlight groups of claims in order to assess whether there is potential for a large bulk mineable deposit of gold and silver, as is believed to be the case at Ambassador, which is in a similar geological setting.
6. Buffalo, Lime Cap, Red Cloud and Federal Mines (Cherry Gold Project) The Cherry Gold project is located in the Cherry Creek Mining District, about 10 miles southeast of Jerome, which has been Arizona`s premier producer of gold, silver, copper and zinc from Precambrian ore deposits. The Cherry Gold claim block is strategically located between the American Molygold gold and molybdenum property to the east, and the Ambassador gold mine to the west. Included in the 650 acre land package are the Buffalo, Limecap and Red Cloud gold mines, as well as a 51% interest in the mineral rights of the Federal Mine, which is comprised of 14 patented mining claims.
Geology:
These are Precambrian gold and silver deposits located in granite of the Cherry Batholith. The veins occur in the granite, within shear zones which strike north -- northeastward and dip to the south. The vein filling consists of irregular, lenticular bodies of massive, shiny white quartz with small amounts of greenish-black tourmaline. Part of the gold occurs as fine particles in the quartz, particularly with limonite, and part is contained in the sulfides.
Past Production:
The Federal Mine is a previous producer of gold from its high grade veins.
Previous Exploration:
The most recent mineral exploration in the Cherry District was by Alanco and American Moly Gold, and they discovered evidence of a porphyry copper molybdenum deposit to the east of the property, which may be associated with the gold mineralization throughout the rest of the Cherry District. The Federal Mine constitutes a large patented claim block with mineralization that is similar to the District`s two main past producing mines, i.e. the Monarch and Logan Mines. Hunt Gold Corporation has acquired three other mines (Buffalo, Limecap and Red Cloud) in the immediate vicinity which, when combined with the Federal Mine, could result in a profitable high grade underground gold and silver mining enterprise, as well as provide lower grade bulk mineable potential.
Exploration Program:
Initial exploration will focus on the Red Cloud, Buffalo and Lime Cap claims in order to assess whether there is potential for a large bulk mineable deposit of gold and silver, as is believed to be the case at the nearby Ambassador gold property, which is in a similar geological setting.
CELL THERAPEUTICS INCORPORATED (NASDAQ:
CTIC) "Up 40.00% on Wednesday" Detailed Quote: http://www.otcpicknews.com/otpmail/link.phpM191&N0&L4 Headquartered in Seattle, CTI is a biopharmaceutical company committed to developing an integrated portfolio of oncology products aimed at making cancer more treatable. For additional information, visit www.celltherapeutics.com.
CTIC News:
December 9 - Three Italian Multicenter Studies Report High (>70%) Rates of Complete Remission (CR) Utilizing Zevalin Radio-Immunotherapy (RIT) in Treatment of Newly Diagnosed or Relapsed or Refractory Non-Hodgkin`s Lymphoma Cell Therapeutics, Inc. (Nasdaq and MTA:
CTIC) announced that the results of three Italian multicenter studies utilizing Zevalin ([90Y]-ibritumomab tiuxetan) were presented at the American Society of Hematology (ASH) 50th Annual Meeting in San Francisco, CA.
In one presentation, the Italian Cooperative Study Group in a phase II study investigated the use of single dose Zevalin as sole initial treatment in 15 patients with advanced stage (III-IV) follicular NHL.
Ninety-three percent (93%) of patients had a response with 73% achieving a complete remission (CR). At a median follow-up of 10 months, 93% of patients are alive, with 71% in continuous CR. No patients required hematopoietic growth factors. Hematologic toxicity was low and quickly reversible; 7 patients developed grade 3 thrombocytopenia and 5 required platelet transfusions.
In a second presentation, investigators from the European Institute of Oncology, Milan treated 13 patients with relapsed or refractory primary gastric NHL including 9 patients with Mucosa Associated Lymphoid Tissue or
MALT with a single dose of Zevalin. Ten of 13 patients achieved a CR with all 9 patients (100%) with
MALT achieving a CR. Toxicities were mainly hematologic and reversible. After a median follow up of 36 months 9 of 10 CR`s (90%) are disease free.
The potential benefits of RIT with Zevalin combined with
BEAM conditioning regimen (Z-
BEAM) followed by autologous stem cell transplantation (
ASCT) for patients who fail to achieve a CR after front line rituximab containing multi- agent chemotherapy for advanced NHL was also presented. The results of the Italian Multicenter Study demonstrated that among 53 patients who failed to achieve CR after CHOP-R, the Z-
BEAM followed by
ASCT resulted in a 74% CR rate. At a median follow up of 175 days post transplant 40 patients (75%) are alive, 30 patients (57%) in CR. Fourteen patients died, 7 due to treatment related toxicities, and 6 due to progressive disease. The estimated 3 year event free survival (EFS) 64%.
"These three additional studies add to the growing body of clinical trial evidence that radio-immunotherapy with Zevalin produces high, durable rates of complete remission in high risk, relapsed or refractory NHL," noted Jack Singer, M.D. and Chief Medical Officer of CTI. "We believe that the impressive 73% CR rate when given as a single agent in previously untreated patients with follicular NHL is worth pursuing in additional trials as it could potentially provide an alternative to multiagent chemotherapy regimens particularly among elderly or infirm patients. Similarly, the 100% CR rate in
MALT is an intriguing finding that could represent an additional registration route as it is an unmet medical need. We believe with these and additional prospective randomized clinical trials Zevalin, Radio-Immunotherapy, may finally assume a role alongside cornerstone treatment regimens for NHL," Dr. Singer added.
ABOUT ZEVALIN Zevalin (Ibritumomab Tiuxetan) is a form of cancer therapy called radioimmunotherapy and is indicated as part of the Zevalin therapeutic regimen for treatment of relapsed or refractory, low-grade or follicular B-cell non- Hodgkin`s lymphoma, including patients with rituximab refractory follicular NHL. Zevalin is also indicated, under accelerated approval, for the treatment of relapsed or refractory, rituximab-nave, low-grade and follicular NHL based on studies using a surrogate endpoint of overall response rate. It was approved by the FDA in February of 2002 as the first radioimmunotherapeutic agent for the treatment of NHL.
Rare deaths associated with an infusion reaction symptom complex have occurred within 24 hours of rituximab (Rituxan) infusions. Yttrium-90 Zevalin administration results in severe and prolonged cytopenias in most patients. Severe cutaneous and mucocutaneous reactions have been reported. The most serious adverse reactions of the Zevalin therapeutic regimen were primarily hematologic, including neutropenia, thrombocytopenia and anemia. Infusion-related toxicities were associated with pre-administration of rituximab. The risk of hematologic toxicity correlated with the degree of bone marrow involvement prior to Zevalin therapy. Myelodysplasia or acute myelogenous leukemia was observed in 2 percent of patients (8 to 34 months after treatment). Zevalin should only be used by health care professionals qualified by training and experience in the safe use of radionuclides.
Patients and healthcare professionals can visit http://www.otcpicknews.com/otpmail/link.phpM191&N0&L4 for more information.
ABOUT NON-HODGKIN`S LYMPHOMA Non-Hodgkin`s lymphoma (NHL) is caused by the abnormal proliferation of white blood cells and normally spreads through the lymphatic system, a system of vessels that drains fluid from the body. NHL can be broadly classified into two main forms aggressive NHL, a rapidly spreading acute form of the disease, and indolent NHL, which progresses more slowly. According to the National Cancer Institute`s
SEER database there were nearly 400,000 people in the U.S. with NHL in 2004. The American Cancer Society estimates that in the United States 66,120 people are expected to be diagnosed with NHL in 2008. Additionally, approximately 19,160 are expected to die from this disease in 2008.
NIGHTHAWK RADIOLOGY HOLDINGS (NASDAQ:
NHWK) "Up 31.09% on Wednesday" Detailed Quote: http://www.otcpicknews.com/otpmail/link.phpM191&N0&L1 NightHawk Radiology (Nasdaq:
NHWK), headquartered in Coeur d`Alene, Idaho, is leading the transformation of the practice of radiology by providing high-quality, cost-effective solutions to radiology groups and hospitals throughout the United States. NightHawk provides the most complete suite of solutions, including professional services, business services, and its advanced, proprietary clinical workflow technology, all designed to increase efficiencies and improve the quality of patient care and the lives of physicians who provide it. NightHawk`s team of U.S. board-certified, state-licensed, and hospital-privileged physicians located in the United States, Australia, and Switzerland, provides services 24 hours a day, seven days a week, for more than 750 radiology group customers and the 26% of all U.S. hospitals they serve.
NHWK News:
December 9 - NightHawk Radiology Holdings, Inc. Reaffirms 2008 Guidance and Announces Initiation of the Company`s Stock Repurchase Program NightHawk Radiology Holdings, Inc. (Nasdaq:
NHWK), the leading provider of radiology solutions to radiology groups and hospitals throughout the United States, today confirmed the company`s annual guidance of $165 to $168 million in revenue and adjusted earnings of $0.64 to $0.67 per diluted share for the year ended December 31, 2008.
Consistent with the company`s reporting throughout the year, the anticipated adjusted earnings per share do not reflect non-cash charges for stock compensation, amortization of intangible assets, and malpractice insurance reserve adjustments and also do not reflect non-recurring charges associated with restructuring costs incurred in the second and third quarters of 2008 or any adjustments that may result from the company`s upcoming annual test for potential impairment of the fair value of its intangible assets.
The company also announced today that it intends to initiate its previously authorized share repurchase program to purchase up to $10 million of its common stock. Under the trading plan, repurchases may be made from time to time by the Company in the open market or in block purchases in accordance with the rules of the Securities and Exchange Commission. The company`s repurchases will be subject to factors such as market price, the company`s operating results, available cash, general economic and market conditions, and other considerations the company has deemed prudent.
Mr. David M. Engert, Chief Executive Officer of NightHawk, stated, "Our strong cash position together with today`s market value for our stock has provided the company with what we believe is an opportunity to enhance long-term shareholder value by returning value to our shareholders through a share repurchase program." MECHANICAL TECHNOLOGY INCORPORATED (NASDAQ:
MKTY) "Up 38.10% on Wednesday" Detailed Quote: http://www.otcpicknews.com/otpmail/link.phpM191&N0&L8 Mechanical Technology, Incorporated, through its subsidiaries, engages in developing and commercializing off-the-grid rechargeable power sources for portable electronics. The company offers fuel cell power solution that consists of Mobion Chip, the direct methanol fuel cell power engine, and methanol replacement cartridges for various applications, such as mobile phones and mobile phone accessories, digital cameras, portable media players, PDAs, and GPS devices. It also provides precision non-contact physical measurement solutions, condition based monitoring systems, portable balancing equipment, and semiconductor wafer inspection tools for the manufacturing, semiconductor, commercial/military aviation, automotive, and data storage industries. The company`s test and measurement instruments and systems consist of electronic, computerized gauging instruments for position, displacement, and vibration applications for the design, manufacturing, and test markets; semiconductor products for wafer characterization; and engine balancing and vibration analysis systems for military and commercial aircrafts. It sells its products directly, as well as through sales representatives and distributors to original equipment manufacturers primarily in the United States, Europe, Japan, Singapore, and internationally. The company has strategic alliance with Samsung Electronics Co., Ltd.; Duracell; and Trident Systems, Inc.
Mechanical Technology, Incorporated was founded in 1961 and is headquartered in Albany, New York.
MKTY News:
December 10 - MTI Micro Debuts Worlds First Universal Charger with Removable Cartridge MTI MicroFuel Cells (MTI Micro), the developer of the award-winning Mobion off-the-grid portable power solutions and a subsidiary of Mechanical Technology, Incorporated (Nasdaq:
MKTY) (MTI) unveiled a new product intent external power-pack prototype capable of providing up to 25 hours of on-the-go power with each cartridge. This compact and light weight fuel cell charger comes with a removable cartridge that can be swapped for a new one when depleted. Each additional cartridge gives consumers another 25 Watt-hours of power. With the Mobion charger, for the first time, consumers can envision a world where power is instantly available where ever they are, when ever they need it.
Source: Mechanical Technology The new Mobion self-sufficient power pack includes a USB interface, allowing the prototype to also be used as an independent energy source for a variety of purposes, including for recharging mobile phones, digital cameras, portable media players and other handheld electronic devices on the go.
With the amount of power from one small cartridge, the charger is designed to fully charge an average cell phone battery over 10 times; for an average user, this could power a cell phone for approximately one month, play 10,000 thousand songs or watch over 100 hours of video on their popular MP3 player, or take over 6000 pictures on a high end professional digital camera. In addition, the charger is designed with smooth edges for an easy grip comfortably fitting in the palm of ones hand, and has interactive LED lights and easy-to-swap cartridges for intuitive use.
Our Mobion product strategy is in line with what consumers on-the-go need. On average, in the U.S., mobile professionals carry 3.4 portable electronic devices with them, and are now buying a universal charger to conveniently recharge all their device batteries. said Peng Lim, Chairman and Chief Executive Officer of MTI. However, these conventional chargers still need to plug into an electrical outlet to recharge once the energy is used. Our Mobion charger allows consumers to charge their devices anytime, anywhere by eliminating the need to plug their devices or Mobion charger into a wall outlet and wait for a recharge our Mobion charger generate electric power on the go and provides true mobility.
At the core of MTI Micros compact charger prototype is its proprietary third generation Mobion Chip, a design architecture that embodies a reduction in the size, complexity, and cost of fuel cell construction.
These changes drive improvements in reliability, manufacturability and low cost products. The Chip is based on 100% methanol fuel, passive, direct methanol fuel cell technology, and integrates a power module with fluid conditioning that allows the system to run in a wide environmental range including temperatures from 0C to 40C at any humidity level an industry standard and a requirement of many OEMs who want to integrate fuel cells into their products. In laboratory testing, this third generation Mobion Chip demonstrated power of over 62 mW/cm2 while producing more than 1800 Watt Hours Per Kilogram (Wh/kg) of energy from the direct methanol fuel feed.
These chargers have been built using processes developed to increase throughput efficiency, intensify our testing, and increase reliability and consistency among units, said Jim Prueitt, Vice President of Engineering and Operations. We are committed to ensure a process that delivers the engineering and manufacturing rigor necessary to make consistent, reliable products.
MTI Micro has plans to launch a product by the end of 2009 and pursue the consumer market with target applications which include hand-held communication, and other power-hungry portable electronic devices that can benefit from Mobion extended run-time, cord-free rechargeable power packs with continuous access to power anytime, anywhere.
ABOUT MTI MICROFUEL
CELLS MTI MicroFuel Cells Inc. (MTI Micro), a subsidiary of Mechanical Technology, Incorporated (Nasdaq:
MKTY), is the developer of Mobion off-the-grid portable power solutions. MTI Micro has a team of entrepreneurial business executives, researchers and scientists; a proprietary direct methanol micro fuel cell power system and a number of system prototypes demonstrating size reductions and performance improvements; and related intellectual property. MTI Micro has received government funding and developed strategic partnerships to facilitate efforts to achieve commercialization.
OPEN ENERGY CORPORATION (OTCBB:
OEGY) "Up 13.45% on Wednesday " Detailed Quote: http://www.otcpicknews.com/otpmail/link.phpM191&N0&L3 Open Energy Corporation is a next-generation solar energy company that develops clean energy solutions, innovative solar products and energy management applications. Open Energy`s award-winning products include proprietary, cost-competitive and attractive
BIPV solar tiles, membranes and asphalt/composition products. In addition, the EcoTouch Energy Management System gives consumers control over their energy usage while saving money. Open Energy`s portfolio of products and services are coupled with innovative financing to enable green Solar Communities to provide low-cost power with little to no upfront cost to the consumer. Open Energy is headquartered in Solana Beach, California.
OEGY News:
December 9 - Suntech Power and Open Energy Sign Solar Roof Tile Licensing Deal License Agreement Combines Open Energy`s Award-Winning Design and Innovation with Suntech`s Manufacturing and Marketing Expertise Suntech Power Holdings Co., Ltd. (NYSE: STP), a leading manufacturer of photovoltaic (PV) modules, and Open Energy Corporation (OTCBB:
OEGY), a developer of innovative and elegant
BIPV products, energy management applications and solar energy solutions announced that they have entered into an exclusive agreement licensing the worldwide manufacture, distribution and marketing of Open Energy`s building integrated solar roof tile product to Suntech. Open Energy granted Suntech an exclusive license of the intellectual property incorporated into its solar roof tile product and any similar or new generation tile roof products. The solar roof tiles are 50 watt four foot
BIPV tiles and are available in different color panels.
"The relationship with Suntech gives Open Energy access to unmatched manufacturing capabilities and a worldwide distribution network, with particular strength in Europe and Asia," said David Field, president & chief executive officer of Open Energy. "This allows us to reach even more international customers and gives us the opportunity to concentrate on our award-winning and innovative product design for next generation products. As the solar industry continues to grow in 2009 particularly in Europe, where
BIPV solar systems enjoy substantial market premiums, it will be critical to have the reach and scale that the relationship with Suntech brings to our company. We chose to work with Suntech because they have world class manufacturing, an incredible sales force and a solid foundation of resources and customers." "Open Energy is widely recognized for designing innovative, award-winning solar solutions, while Suntech is a world leader in manufacturing, marketing and sales of solar products," said Leonard May, Suntech Managing Director of
BIPV Products. "By combining these core strengths, we are confident that we will consistently deliver innovative products, the highest quality and outstanding value to our customers capitalizing on the strengths of both companies." Eagle Roofing Products is expected to continue as master distributor of the tile product in the U.S.
ABOUT SUNTECH Suntech Power Holdings Co., Ltd. is a world leading solar energy company as measured by both production output and capacity of solar cells and modules. Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. Suntech designs, develops, manufactures, and markets a variety of high quality, cost effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech offers one of the broadest ranges of building integrated photovoltaic (
BIPV) products under the MSK brand.
Suntech has sales offices worldwide and is a market share leader in key global solar markets.
POWER MEDICAL INTERVENTIONS INCORPORATED (NASDAQ:
PMII) "Up 26.90% on Wednesday" Detailed Quote: http://www.otcpicknews.com/otpmail/link.phpM191&N0&L2 Power Medical Interventions, Inc. is the world`s only provider of computer-assisted, power-actuated surgical stapling products. PMI`s Intelligent Surgical Instruments enable less invasive surgical techniques to benefit surgeons, patients, hospitals and healthcare networks. PMI manufactures durable recyclable technology to reduce medical waste and help keep the planet clean. The company was founded in 1999, and is headquartered in Langhorne, PA with additional offices in Germany, France, and Japan.
PMII News:
December 2 - Power Medical Interventions, Inc. Announces Executive Management Change Power Medical Interventions Inc. (Nasdaq:
PMII), a leader in developing and commercializing Intelligent Surgical Instruments, announced today a change to its executive management team.
Effective December 26, 2008, Mr. John Gandolfo will be resigning from his position as Chief Financial Officer for personal reasons. Mr.
Gandolfo will continue to maintain a close relationship with the Company in an advisory role through a portion of 2009. In this role, John will continue to develop financing options for PMI. Ms. Patricia Steffan, Vice President of Finance at Power Medical for the last seven years, will act as interim Chief Financial Officer, effective December 26, 2008. The Company has initiated an executive search for Mr.
Gandolfo`s replacement.
Michael Whitman, President and Chief Executive Officer, commented, We are pleased that John will be able to continue to contribute to PMI in this advisory role. His leadership and dedication have been a driving force behind our IPO and strategic licensing transaction with Intuitive Surgical. We wish him the best in his future endeavors and look forward to his continued insight and guidance on our strategic initiatives. In this role, John will be assisting with capital raising as well as the transition to a new CFO.
John Gandolfo, Chief Financial Officer, commented, This has been a difficult personal decision as Power Medical continues to make great strides. I am particularly pleased with the recent improvement in margins and revenue increases which were reported during our third quarter conference call. I am pleased to have been part of it as CFO over the last two years. As Power Medical continues to grow, I firmly believe that Michael and the rest of the team are well positioned for the success that lies ahead. I am especially pleased to be continuing my relationship with the Company as an advisor to the management team and Board on strategic, capital raising and other financial initiatives.
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