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INTERNATIONAL BUILDING TECHNOLOGIES (OTCBB: INBG | Quote | Chart | News | PowerRating) "Up 136.36% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes/XKEM.php
International Building Technologies Group, Inc. engages in the manufacture and sale of light weight building panels used in construction worldwide. It also provides customers with architectural design, panel supply, installation supervision, engineering, training, and technical support. The company's building panels have applications in residential homes, schools, high rise buildings, churches, condominiums, mining shafts, hospitals, fences and walls, vacation lodges, medical care centers, and community buildings. International Building Technologies Group is based in Alameda, California with an additional office in Shanghai, the People's Republic of China.
INBG News:
July 9 - China Government Grants Approval for the Acquisition of Wuhan Based Wufeng Machinery Manufacturing Company by International Building Technologies Group, Inc.
International Building Technologies Group, Inc. (OTCBB: INBG | Quote | Chart | News | PowerRating) announced that the China Government has granted approval for the Company to acquire 88% of China based Wuhan Wufeng Machinery Manufacturing Company ("Machinery Company") with registered capital of RMB 26,420,000 (Approximately USD $3,850,000) for a fixed acquisition price of RMB 11,000,000 (Approximately USD $1,600,000).
On April 17, 2008, the Company signed a definitive agreement to purchase the Machinery Company located in Wuhan, Hubei Province of China. Since then, the Company has been waiting for approval from the China government and has been preparing for the audit process of the Machinery Company as scheduled in the definitive agreement.
Stated Ken Yeung, CEO of INBG, "We are very excited by the China Government's approval. Today's news brings us significantly closer to complete the acquisition of the Machinery Company. We have been working diligently over the past few months to prepare for the audit and will start the process shortly. The acquisition will be finalized upon completion of the audit in acceptance with SEC regulations. After which we can then retool the existing machineries and equipments so that they will be able to manufacture the panel machineries that INBG will utilize in its panel production factory projects, while the existing current revenue of the Wuhan Machinery Company can bring in a reasonable return for the Company."
The Company has also been working with local investors to set up a multi-million dollar panel production factory in earthquake devastated Sichuan Province to facilitate the rebuilding process. The plan to build a factory in this region has been discussed with the Sichuan Construction Bureau and has been met with great enthusiasm. "The Sichuan Construction Bureau has reviewed our products and plans for a factory and is eager for us to proceed. We have been working with several investors on this project and it is very promising. We are very optimistic and will keep shareholders and investors informed as new information becomes available," stated Ken Yeung.
ABOUT THE MACHINERY COMPANY
The Machinery Factory manufactures machinery equipment and production lines for rice and grain processing as well as mineral refining and processing. It also provides turn-key services from designing to the assembly of equipments and production lines. It has been one of the key players in its respective industries for decades in China. For further information on the Machinery Company, please visit www.ytwf.com and www.intepower.com.
SGX PHARMACEUTICALS INCORPORATED (NASDAQ: SGXP | Quote | Chart | News | PowerRating) "Up 125.55% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes/SGXP.php
SGX Pharmaceuticals, Inc., a biotechnology company, focuses on the discovery, development, and commercialization of therapeutics for addressing unmet medical needs in oncology. The company's product pipeline includes drug candidates from its FAST drug discovery platform, which uses X-ray crystallography and complementary biophysical and biochemical methods, combined with medicinal and computational chemistry. Its drug development programs target the c-MET receptor tyrosine kinase (MET), an enzyme implicated in an array of cancers; and the BCR-ABL tyrosine kinase enzyme for the treatment of chronic myelogenous leukemia (CML), a bone marrow cancer. Under the MET development program, the company develops SGX523, which is in Phase I clinical development studies for solid tumor indications; and SGX126, a preclinical development product for solid tumors indications. Under the BCR-ABL Development Program, SGX Pharmaceuticals develops SGX393, an oral therapy for the second-line treatment of CML, which is in preclinical development studies. Its drug discovery technologies are also applied to a portfolio of oncology targets, including JAK2, a non-receptor tyrosine kinase involved in cytokine-induced signaling and growth regulation, survival, and differentiation of cells; RAS, a protein that regulates cell growth; and three other tyrosine kinases. The company has a license and collaboration agreement with Novartis Institutes for Biomedical Research, Inc., Cystic Fibrosis Foundation Therapeutics, Inc., National Institutes of Health, and Eli Lilly & Company. SGX Pharmaceuticals, formerly known as Structural GenomiX, Inc., was founded in 1998 and is headquartered in San Diego, California.
SGXP News:
July 9 - SGX Pharmaceuticals Submits Investigational New Drug Application for SGX393
SGX Pharmaceuticals (NASDAQ: SGXP | Quote | Chart | News | PowerRating) announced that it has submitted an investigational new drug (IND) application to the U.S. Food and Drug Administration for SGX393. This compound is an internally developed, selective, orally-bioavailable small molecule for the treatment of relapsed and refractory chronic myelogenous leukemia (CML).
The standard of care for CML is Gleevec . Although Gleevec is a highly effective front-line therapy for CML, there are patients who relapse while on Gleevec or who are intolerant to the therapy. In the majority of cases, relapses have been linked to the emergence of a number of drug-resistant mutant forms of the tyrosine kinase BCR-ABL. The single mutant that has been the most challenging to inhibit is the T315I mutant. Neither Gleevec nor the two more recently approved CML treatments, Sprycel and Tasigna , inhibit the T315I mutant. SGX393 inhibits both wild-type BCR-ABL and many drug resistant mutant forms of BCR-ABL, including the T315I mutation.
"Filing of this IND submission represents another testament to our internal capabilities. We continue to focus on moving our discovery and development programs forward," said Mike Grey, CEO of SGX Pharmaceuticals.
ABOUT SGX393
SGX393 was discovered by SGX utilizing FAST(TM), its fragment based approach to drug discovery. SGX393 initially fell within the purview of the Company's collaboration with the Novartis Institute for Biomedical Research (Novartis). SGX obtained the right to further develop and commercialize SGX393 following an amendment to its agreement with Novartis that was signed in September 2007, and it is subject to a reacquisition right of Novartis which may be exercisable at a future date.
PROM RESOURCES INCORPORATED (OTC: PRMO | Quote | Chart | News | PowerRating) "Up 140.00% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes/PRMO.php
For information about Prom Resources, visit www.promresources.com or e-mail info@promresources.com.
PRMO News:
July 8 - Prom Resources Logs First Gold Sale
Prom Resources, Inc. (OTC: PRMO | Quote | Chart | News | PowerRating) ("the Company") announced its first gold sale. The first shipment of 50kg was smelted and sold for the amount of USD $1,250,000.
"This past year was tainted with a number of delays and setbacks for which the Company and its shareholders had to bear the brunt. So, I am very pleased that we could turn things around just before the end of the fiscal year and end it on a positive note. Since the main obstacles were overcome, this new fiscal year is expected to be rosier. We anticipate strong sales and business developments," said, President of the Company, Dror Moradov.
CRUISECAM INTERNATIONAL INCORPORATED (OTC: CCMJ | Quote | Chart | News | PowerRating) "Up 66.67% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes/CCMJ.php
CruiseCam International, Inc., through its two operating subsidiaries, develops and markets integrated, "in-car" camera mount and recording systems for law enforcement, consumer, commercial and transportation applications, as well as for competition racing cars. The Company's patented technology and industry-first "Cruisecam" offering have been developed since 1996, and are distributed nationwide. For more information, visit www.cruisecam.com.
CCMJ News:
July 9 - New Product & Supply Contract Significantly Expands CruiseCam International, Inc.'s Market
CruiseCam International, Inc. (OTC: CCMJ | Quote | Chart | News | PowerRating) announced that it has been awarded a critical and extremely valuable supply contract from Rentar Logic, Inc.
Rentar Logic, Inc. is the only company in the world that combines the Rentar Fuel Catalyst (www.rentar.com), a pre-combustion fuel technology with 26 domestic and international patents, and proprietary software to reduce fuel consumption and harmful emissions. Frank Reilly, President of Rentar Logic, Inc., stated that "We are very impressed with the CruiseCam technology and will utilize their technologies to enhance our verification systems to provide another vital element in the certification procedure which will supply more comprehensive and valuable data for our customers."
CruiseCam will manufacture and supply digital video components for Rentar Logic. CruiseCam's technology will add to Rentar Logic's current apparatus configuration by creating additional circuitry that will permit live streaming video to be delivered to fleet headquarters or any other location of their choice. "This is a part of CruiseCam's corporate initiatives program that has been in development for some time and is now finally coming to fruition. This strategic alliance will further the goals of the company by creating a large product supply channel that will allow the company to realize a dynamic new revenue stream while advancing current core product objectives," stated Scott Watkins, CEO of CruiseCam International, Inc.
"The size of this contract is significant and given that conservative sales goals are reached, CruiseCam will realize revenue in excess of $10-15,000,000 in the next 24 months. Equally important is the opportunity to be part of what appears to be one of the most significant increased fuel mileage programs available today. Rentar Logic is clearly in a position to reduce fuel consumption in small to large trucking fleets," stated Mr. Watkins.
The structure for CCMJ is 500 million authorized shares, 379 million issued and outstanding shares, with 229 Million restricted shares leaving a tradable float of approximately 150 million shares. CruiseCam has authorized its transfer agent - Island Stock Transfer - to confirm these figures for all those who inquire.
Mr. Watkins also commented that "CCMJ has not, is not and will not participate in any form of toxic financing. Based on current contracts and additional potential revenue streams to the company, CCMJ is committed to maintaining this share structure with a view to increasing shareholder value and share price. Based on the exciting and continuing developments and relations the company is engaged in, CCMJ believes it is important to inform our shareholders of these developments via press releases on a weekly basis.
ABOUT RENTAR ENVIRONMENTAL SOLUTIONS
Rentar Environmental Solutions, the world leader in pre-combustion fuel technology, holds 26 domestic and international patents on the Rentar Fuel Catalyst. The Rentar Fuel Catalyst has been extensively tested by numerous third party laboratories recognized by EPA, CARB (California Air Resources Board), foreign governments and prominent corporate entities. At present there are 10,000 Rentar Fuel Catalyst units deployed.
When coupled with the Rentar Logic proprietary software application it provides an unparalleled fuel management tool. Rentar Logic is the only company that combines a proven fuel catalyst and proprietary verification software into one bundled product.
TITAN OIL & GAS INCORPORATED (OTC: TNOG | Quote | Chart | News | PowerRating) "Up 46.34% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes/TNOG.php
Titan Oil and Gas, Inc. engages in the development, drilling, and production of oil and gas in the United States. It focuses on the redevelopment of oil and gas fields with a history of production, and exploration and development of new properties. The company holds an option on approximately 250 acres of leases in Bastrop County, Texas. It also owns interest in Wilson County project, Texas. The company was incorporated in 1988 under the name Sierra Gold Corporation and changed its name to PayForView.com Corp. in 1999. Further, it changed its name to James Barclay Alan, Inc. in 2002, to Titan Consolidated, Inc. in 2003, and to Titan Oil and Gas, Inc. in 2005. The company is based in New York, New York.
TNOG News:
July 9 - Titan Oil and Gas Has Acquired a Producing Oil and Gas Project with 61 Wells in Pennsylvania
Titan Oil and Gas Acquires Producing Crows Run Oil and Gas Project in Beaver County Pennsylvania
Titan Oil and Gas Inc. (OTC: TNOG | Quote | Chart | News | PowerRating) has made the first of its planned acquisitions with the Crows Run Project (CRP) in Western Pennsylvania. CRP represents a significant turning point for the company as it can now claim 27 wells in production as it moves to maintain and rework all 61 wells included in the deal.
The total three-year production was 2,672 bbl, or an average yearly production of 890 bbl. Additionally, the connection of an approximate 300 foot pipeline to Columbia Gas of Pennsylvania will produce over 2,000 MMBTU per month, in its current form, based on 2003 production levels. Included in the acquisition is $55,000 worth ($500,000 initial value) of equipment, a CD used to secure the blanket bond valued at $28,000, a contract to sell oil to Ergon (www.ergon.com/main.html) and a Pennsylvania EPA license for the project.
The full technical report is available on the website at:
www.TitanOilandGas.com/docs/Crows-Run-Report.pdf.
The well sites are located in areas of proven production in Western Pennsylvania. CRP's original estimated reserves were calculated in excess of 13 million bbls in the eighties (see technical report), with very little production to reduce this figure in the interim. The best well produces 5 bbls of oil per day while others produce around 1-2 bbls of oil per week. Since being drilled in the 80s, the wells have had little in the way of maintenance (average rework cost is $5,000-7,000 per well). These production numbers will dramatically improve by simply removing paraffin build up and updating pumpjacks.
Other improvements will be made with the application of modern stimulation and enhancement techniques that compound production increases. Titan estimates that with simple maintenance, wells producing 1-2 bbls a week would move to that same figure per day as well as bringing online many that have been choked into nonproduction. Titan management looks at this as a first step in its acquisition plan that will include the use of a special preferred share class, which will be presented and described in the business plan as well as at the annual general meeting to gain stockholder approval in the coming months.
According to Titan Oil and Gas President Brandon Toth, "What we have with Crows Run is a project that can bring us current production but promises something much more enduring. This is really a low risk endeavor with current producing wells that have never been fully exploited. There are significant reserves of oil that can be accessed with simple maintenance. We will also be working with a technology partner that can enhance these wells for much lower prices than were paid just five years ago using a directional water jet that breaks right through surrounding formations. This technology lessens the impact on the environment."
PLURIS ENERGY GROUP INCORPORATED (OTCBB: PEYG | Quote | Chart | News | PowerRating) "Up 34.62% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes/PEYG.php
Pluris Energy Group Inc. is an international energy company engaged in the acquisition and development of producing oil and gas interests in South America. For further information, please visit the Company's website at www.pluris.com.
PEYG News:
July 9 - Pluris Energy Acquiring Cerro Negro Concession
Company Executes Definitive Purchase and Sale Agreement for 46,000 Acre Oil Producing Concession
Pluris Energy Group Inc. (OTCBB: PEYG | Quote | Chart | News | PowerRating) ("Pluris Energy" or the "Company") announced that on July 4, 2008, the Company's wholly owned Argentine subsidiary, Pluris Sarmiento Petroleo SA executed a definitive Purchase and Sale Agreement (the "Agreement") with Clear S.R.L. of Comodoro Rivadavia, Argentina ("Clear") to purchase a 75% operating interest in the Cerro Negro concession, Chubut Province, Argentina.
The Agreement includes consideration to be paid by the Company to Clear in the form of a cash payment totaling USD$21,000,000 on terms over a specified period of time and additional consideration in the form of 3,000,000 common shares of the Company deliverable to Clear over a specified period of time and subject to pooling provisions agreed to by Clear and Pluris Energy under a mutually agreed upon pooling agreement. The Company intends to accept transfer of operations and title to a 75% interest over the Cerro Negro concession upon financial closing of the transaction, which is targeted for the third quarter of 2008. Closing of the acquisition is subject to a number of conditions including obtaining all required third party consents.
Management of the Company looks forward to providing our shareholders with further details related to the Cerro Negro concession in upcoming announcements.
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