OTCPicks.com: OTCPicks.com Stocks to Watch for Monday, August 4th COGL, CDLX, NEOM, RDWG, CTBG

Aug 04, 2008 (M2 PRESSWIRE via COMTEX) -- RDWG | Quote | Chart | News | PowerRating -- Our Stocks to Watch tomorrow include Cheetah Oil and Gas Ltd. (OTCBB: COGL), Coddle Creek Financial Corp. (OTC: CDLX), NeoMedia Technologies Inc. (OTCBB: NEOM), Road Wings Inc. (OTC: RDWG), Coil Tubing Technology Inc. (OTC: CTBG).

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CHEETAH OIL & GAS LIMITED (OTCBB: COGL | Quote | Chart | News | PowerRating) "Up 140.00% on Friday"

Detailed Quote: http://www.otcpicks.com/quotes/COGL.php

Cheetah Oil & Gas Limited is an exploration stage oil and gas company engaged in the exploration for petroleum and natural gas in the country of Papua New Guinea through its 10 percent equity interest in Cheetah Oil & Gas B.C. Ltd. ("Cheetah BC"). The company was previously intending to enter into the businesses of a technology venture finance company to organize, capitalize, acquire and finance technology companies, and subsequent to that attempted to acquire certain resource leases in the Raton Basin. Due to the inability to run these businesses with a profit, the default on the obligations of certain parties and the difficulty in attracting additional capital on terms favorable to existing shareholders, previous management ceased operation of all prior businesses in 2002. Cheetah Oil & Gas currently holds a ten percent equity interest in Cheetah BC. Cheetah BC currently holds five petroleum prospecting licences and one petroleum retention licence in Papua New Guinea covering approximately 8.3 million acres. PRL 13, PPL 246 and PPL 250 are located in South-Central of Papua New Guinea and PPL 245, PPL 249 and PPL 252 are located along the Northern Coast.

COGL News:

July 31 - Cheetah Announces Change in Management

Cheetah Oil and Gas Ltd. (OTCBB: COGL | Quote | Chart | News | PowerRating) (the "Company") announced change of Management. Effective July 29, 2008 Robert McAllister became President and Chief Executive Officer and Georgina Martin currently a director was appointed Chief Financial Officer. Isaac Moss President and director and directors David Martin, Ian McKinnon and Dean Swanberg have all resigned to pursue other business interests.

Mr. McAllister stated, "I am excited about working with all the stake holders of COGL. As such I am committed to rebuilding shareholder value from day one."

Cheetah looks forward to the future with optimism on several fronts. The Company holds a 10% interest in petroleum prospecting and retention licences in approximately 8.3 million acres of land in Papua New Guinea. The recent success of Interoil's (OIL) Natural Gas well on PPL 238 which is adjacent to our PPL 250 lands bodes well for the future development of natural gas discoveries in the area.

Cheetah's partner in Papua New Guinea, LNG Energy is planning on drilling this year on our joint lands. Cheetah will be updating all stakeholders on a continual basis as the Company moves forward. Cheetah has also started to look at Oil & Gas assets in other friendly jurisdictions that meet the Company's goal of creating and enhancing shareholder value.

CODDLE CREEK FINANCIAL CORPORATION (OTC: CDLX | Quote | Chart | News | PowerRating) "Up 118.04% on Friday"

Detailed Quote: http://www.otcpicks.com/quotes/CDLX.php

Coddle Creek Financial Corp. operates as a bank holding company for Mooresville Savings Bank, Inc., S.S.B (bank). The bank's activities include attracting retail deposits from the general public and using such deposits to make mortgage loans secured by real estate. It primarily makes one-to-four family residential real estate loans; loans secured by multifamily residential and commercial property, construction loans, and equity line of credit loans; and also makes loans that are not secured by real property, such as loans secured by pledged deposit accounts, and various types of secured and unsecured consumer loans. The bank's other activities comprise investments, and interest-earning deposit balances in other depository institutions. It operates through three full service offices in Mooresville, Cornelius, and Huntersville, North Carolina. The company is headquartered in Mooresville, North Carolina.

CDLX News:

August 1 - Coddle Creek Financial Corp. Announces Earnings Per Share for the Quarter Ending June 30, 2008 and Year-to-Date June 30, 2008

Coddle Creek Financial Corp. (OTC: CDLX), the holding company of Mooresville Savings Bank, Mooresville, NC, announced earnings per share for the quarter ending June 30, 2008, and for the year-to-date June 30, 2008. Data on a consolidated basis are as follows:

Total Assets - $158,597,000 Total Liabilities - $139,504,000 Total Equity - $19,093,000 Net Income - $111,000

Earnings per share quarter-to-date (QTD) and year-to-date (YTD):

Basic - $0.04 and $0.19 Diluted - $0.04 and $0.19

The Board of Directors of Coddle Creek Financial Corp. also approved a 25 cent per share dividend at the July 22, 2008 meeting. The dividend will be paid on August 19, 2008 to shareholders of record on August 5, 2008.

NEOMEDIA TECHNOLOGIES INCORPORATED (OTCBB: NEOM | Quote | Chart | News | PowerRating) "Up 60.00% on Friday"

Detailed Quote: http://www.otcpicks.com/quotes/NEOM.php

NeoMedia Technologies, Inc. is the global leader in optically initiated wireless transactions, bridging the physical and mobile world with innovative direct to web technology solutions. To provide a robust high-performance infrastructure for the processing of optical codes NeoMedia extends their offering with award winning Gavitec technology. Located in Germany, Gavitec AG - mobile digit is a leader in development and distribution of mobile scanners and software for mobile applications. In addition, Gavitec provides standardized and individual solutions for mobile marketing, couponing, ticketing and payment systems. To learn more, visit www.neom.com, www.neoreader.com, and www.mobiledigit.de.

NEOM News:

July 31 - NeoReader for Apple's iPhone Provides Easy Access to Mobile Content on the Go

NeoMedia Technologies (OTCBB: NEOM), the global leader in camera-initiated transactions for mobile devices, announced today that their mobile barcode scanning application - NeoReader - is now available for the iPhone and free to download from Apple's App Store. The NeoReader transforms the iPhone into a barcode scanner which provides instant access to mobile content by clicking on 2D barcodes.

Available immediately for free download, iPhone users simply install the NeoReader barcode scanning application onto their iPhone via Apple's App Store, either over a cell network or using Wi-Fi. The application is also accessible via iTunes.

The NeoReader application turns the iPhone into a mobile conduit to interactive content and information. The simple "one click" access makes the mobile internet much more accessible for iPhone users - by scanning 2D barcodes via the iPhone's camera, users avoid typing in long URLs and navigating cumbersome menus. The 2D barcodes serve as "hyperlinks" from printed mediums to mobile web content and are activated when and where users choose.

The use cases for mobile barcodes are virtually endless, from advertising or editorial content (e.g. movie trailer, product coupon or video content to accompany a print article) to public service information (e.g. bus schedules or prescription drug information) and personal information (e.g. interactive business card). iPhone users can even promote themselves with mobile barcodes. By creating personal codes users can link their website to a business card, a t-shirt, a social networking profile or any other creative place a barcode can be printed.

"We are very exited the NeoReader for iPhone has been approved by Apple -- the superior web experience of iPhone translates to an enhanced experience with the NeoReader as well. iPhone users are exactly the type of consumers that can propel mobile barcode usage into the mainstream," stated Iain McCready, CEO of NeoMedia Technologies. "We know the mobile handset is sacred ground for iPhone users and we respect that. The NeoReader empowers consumers to 'take control' of the content that reaches their iPhone - they choose when and where they want to engage with a mobile barcode. NeoMedia makes sure the experience is secure, fast and reliable. I believe the NeoReader can be the breakthrough needed to deliver the promise of an easy and accessible mobile internet experience."

The NeoReader is a universal barcode scanning application that reads all standard 2D barcode symbologies - QR, Data Matrix, Aztec - so iPhone users won't need multiple barcode readers. Many companies are beginning to utilize 2D barcodes in their marketing and communications efforts. By installing the NeoReader, iPhone users will enjoy the value and convenience of a rich and relevant interactive experience wherever they encounter a mobile barcode.

ROAD WINGS INCORPORATED (OTC: RDWG | Quote | Chart | News | PowerRating) "Up 57.14% on Friday"

Detailed Quote: http://www.otcpicks.com/quotes/RDWG.php

Road Wings, Inc. offers telecommunication services and is based in Henderson, Nevada.

RDWG News:

August 1 - Road Wings Updates Financials

Road Wings, Inc. (OTC: RDWG | Quote | Chart | News | PowerRating) has posted new financials on its Pink Sheets disclosure filings, available for view at www.pinksheets.com.

"As a direct result of our cash injections into OneFi Technologies, our ownership interest in OneFi continues to grow, benefitting from the OneFi balance sheet, also reflected on Pink Sheets," stated RDWG President Travis Grimmett. Grimmett went on to say that RDWG will, "continue to buy into OneFi Technologies on a consistent basis."

According to the Company, the most recent share structure of Road Wings as of August 1, 2008 is as follows:

Shares Outstanding - 446,000,000 Float - 351,000,000

COIL TUBING TECHNOLOGY HOLDING INCORPORATED (OTC: CTBG | Quote | Chart | News | PowerRating) "Up 54.29% on Friday"

Detailed Quote: http://www.otcpicks.com/quotes/CTBG.php

CTTH was formed as a holding company of several operating companies in 1999 and continues to have two wholly owned subsidiaries. Through its primary subsidiary, CTTH specializes in the design of proprietary tools for the coil tubing industry, concentrating on four categories of coil tubing application: thru tubing fishing, thru tubing work over, pipeline clean out, and coil tubing drilling. CTTH and its subsidiaries were founded by Jerry Swinford, an oilfield tool designer with more than 25 years experience in the creation of oilfield tools. Mr. Swinford continues to serve as CTBG and CTTH's director, CEO and president.

CTBG News:

August 1 - Coil Tubing Technology, Inc. Files Suit Against Grifco, Grifco's former President and DTC

Coil Tubing Technology, Inc. (OTC: CTBG | Quote | Chart | News | PowerRating) ("CTBG"), its majority owned subsidiary, Coil Tubing Technology Holdings, Inc. ("CTTH") and its President & Chief Executive Officer, Jerry Swinford, have filed suit against Grifco International, Inc. (OTC: GFCI) ("Grifco"), Depository Trust & Clearing Corporation ("DTC") and the former president of Grifco, James Dial (the "Defendants").

As previously disclosed in CTBG press releases, DTC contacted CTBG in late April 2008 regarding issues associated with Grifco's distribution of its 75,000,000 shares of CTBG in August 2007. The distribution was effected through a stock dividend of CTBG shares to Grifco shareholders as of the record date of May 1, 2006. Grifco announced that each of its shareholders would receive 1.89 shares of CTBG stock for each share of Grifco stock held as of the record date. Thus, the stock dividend was premised on Grifco having approximately 40 million shares outstanding on the record date. However, according to the DTC's records there were approximately 68 million Grifco shares outstanding and held in book entry form on the record date. Additionally, there were a yet undisclosed number of shares outstanding held in certificate form, which are not included in the 68 million share total, and which may have not been included in the distribution by Grifco. Mr. Swinford was one such record shareholder of Grifco, who did not receive shares in Grifco's distribution.

CTBG believes that all three Defendants were aware of the shortfall in shares in August 2007, but allowed the stock dividend to go forward.

When CTBG was contacted by the DTC regarding the shortfall in shares in April 2008, it immediately took steps to have Grifco contact shareholders who did not receive shares in the distribution and obtain signed waivers of their right to receive shares in the stock dividend. To date, a limited number of such waivers have been obtained; however, because of Grifco's failure to obtain waivers from a sufficient number of shareholders, DTC demanded that CTBG acquire additional free trading shares in the market or issue additional free trading shares to satisfy the shortfall. Acquiring additional shares in the market is both financially and logistically impossible and, because CTBG does not have a registration statement on file allowing it to issue additional free trading shares, filing such registration statement would be expensive, time consuming, and subject to SEC approval. Additionally, issuing additional shares of CTBG would substantially dilute the interests of CTBG's existing shareholders.

On July 10, 2008, DTC issued a Stock Dividend E-Mail Alert that stated it had not received sufficient shares from Grifco in order to affect the stock dividend at the rate Grifco announced. DTC further stated that unless it received the necessary shares by July 31, 2008, it would unilaterally adjust the ratio of shares received in the stock dividend from the rate originally declared, 1.89 shares of CTBG common stock for each share of Grifco common stock which shareholders of Grifco held, to a reduced rate of approximately 1.293870 shares.

By demanding that CTBG provide sufficient shares to satisfy the shortfall or unilaterally adjusting the ratio of shares issued, DTC was attempting to force CTBG to suffer the consequences created by itself, Grifco and others. Grifco and DTC were in possession of the relevant information when the stock dividend was issued.

Because the adjustment threatened by the DTC would irreparably harm CTBG and its shareholders, on July 30, 2008, CTBG filed suit against Grifco, DTC, and Dial. Additionally, CTBG sought and obtained a temporary restraining order to restrain the DTC from adjusting shareholder accounts.

Following the hearing, counsel for CTBG, Jess W. Mason, stated, "Judge Stovall's Order today maintains the status quo and prevents DTC from adjusting any accounts until a further Order of the Court. A temporary injunction hearing will be held before the Court on August 22, 2008."

ABOUT COIL TUBING TECHNOLOGY, INC. (CTBG) CTBG is the result of a reverse merger with IPMC Holdings Corp. which occurred in November 2005. After the reverse merger and until about a year ago, CTBG owned all of the outstanding shares of CTTH and currently owns 95.2% of CTTH's outstanding shares of common stock. CTBG has historically conducted essentially all of its operations through CTTH and its subsidiaries.

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