OTCPicks.com: OTCPicks.com Daily Market Movers Digest Midday Report for Tuesday, August 12th PURO, SRDG, FDMF, COIN

Aug 12, 2008 (M2 PRESSWIRE via COMTEX) -- SRDG | Quote | Chart | News | PowerRating -- Our Stocks to Watch today include Purio Inc. (OTCBB: PURO), Southridge Enterprises Inc. (OTCBB: SRDG), Freedom Financial Holdings Inc. (OTC: FDMF), Converted Organics Inc. (Nasdaq: COIN)

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PURIO INCORPORATED (OTCBB: PURO | Quote | Chart | News | PowerRating) "Up 35.00% in morning trading"

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

Company Profile: http://www.otcpicks.com/purio/purio.htm

Purio Inc. owns proprietary water clarification technology suitable to a broad number of applications including the clarification of surface water, industrial process water and sewage. Purio intends to apply its technology initially to industrial and commercial applications to reclaim water and reduce the need for fresh water in such applications. Purio further intends to use its proprietary technology to produce potable water for commercial and residential use. Purio will commercialize its technology via a number of channels, namely licensing strategic partners to build and sell and/or operate units outside of North America, outright sale of their second generation (patent pending) units to end users and will build, own and operate on a fee for service basis their larger permanent installation units in North America. Purio is based in Blaine, Washington.

PURO News:

August 11 - Purio Inc. Provides Update on Mobile Water Treatment Demonstration and Initial Testing

Purio Inc. (OTCBB: PURO | Quote | Chart | News | PowerRating) Purio Inc. is pleased to announce that its drinking water clarification/purification demonstration taking place in the prairie province of Saskatchewan Canada has produced very satisfying in-house product water analysis and that product water samples from a series of test ports strategically positioned on the machine will be obtained during routine operation of the equipment and submitted to an accredited independent lab early in this week.

Leonard Girard, Chief Science Officer for Purio Inc. says, "Purio has operated the down-scaled model of our patented technology using a variety of water samples and that exercise has proven the unit's ability to produce fresh, clear, safe drinking water from contaminated and unsafe sources. Our next step is to prove the results in a recognized and accepted format which is only possible through an independent recognized lab."

"As a further demonstration of the unit's ability, around mid-week, we are preparing to move the unit to a new location at a shallow lake near a recreational resort village to show the transportability of the unit, and its ability to produce safe water from a variety of sources," Girard comments. "We will also be ordering and reporting on a complete battery of lab analysis on that operation as well."

Earl Switenky, spokesman for Purio Inc. says, "Because our technology clarifies water without the use of membranes, we have captured the attention of interested parties from around the world. Some have admitted their skepticism that they don't believe that our claims are possible. Through our operations and testing through this week, and the following accredited lab reports, we intend to make believers out of even the most discriminating observers. The economical processing methods we use may open doors of possibilities for thirsty communities and companies around the world who simply won't accept unsafe drinking water any longer."

SOUTHRIDGE ENTERPRISES INCORPORATED (OTCBB: SRDG | Quote | Chart | News | PowerRating) "Up 4.17% in morning trading"

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

Southridge Enterprises is a renewable energy company with a mission to become the ethanol producer of choice in the southeastern region of the United States. The Company is focusing its efforts in an area which offers abundant supplies of corn, superior transportation infrastructure and expedited permitting processes. The Company is actively acquiring and developing ethanol production facilities and anticipates start-up of the first phase of these operations in 2009. Southridge Enterprises is headquartered in Dallas, Texas. For more information, visit www.southridgeethanol.com.

SRDG News:

August 12 - Southridge to Build Awareness in Asian Markets

Southridge Enterprises, Inc. (OTCBB: SRDG | Quote | Chart | News | PowerRating) (the "Company") announced that it has signed a market and investor awareness contract with investment and marketing firm, Kikomaki Corp., to bring exposure to the Asian brokerage community. The contract is for a one year period, during which Kikomaki will be featuring Southridge to the retail client bases of a number of large Asian brokerage firm networks.

The Asian investment community has shown leadership with its capital placement in renewable energy projects in Brazil. Recently, a trade and investment subsidiary of a major Japanese car manufacturer invested in building an ethanol plant in Brazil's center-west Goias state. In addition, Southridge has received numerous investment proposals from firms in Hong Kong and Japan. Due to this significant interest from the Asian investment community, the Company believes it is a very opportune time to launch a market awareness program.

During the last two years, the Company's primary focus has been on raising investment capital to bring its facilities to the construction phase and bring the Company to profitability. However, based on current market conditions and our under-valued stock price, it is evident that the Company needs to shift its attention to executing a strategic market awareness plan. To that end, Southridge is extremely encouraged that its alliance with Kikomaki should facilitate the necessary investor interest to bring appropriate value to the Company's share price.

FREEDOM FINANCIAL HOLDINGS INCORPORATED (OTC: FDMF | Quote | Chart | News | PowerRating) "Up 57.14% in morning trading"

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

Freedom Financial Holdings, Inc. ("FFH") is a holding company with a focus on the identification of opportunities. The Company's objective is to acquire undervalued assets and/or initiate operations in underserved niches. Once established within the FFH portfolio, the Holding Company will provide the support necessary to enable each of its subsidiaries to maximize their business opportunities. FFH also operates two divisions with a focus in the financial services sector; Freedom Financial Mortgage Corp. ("FFMC") with operations in Indiana, Ohio, Georgia and Florida and Freedom Mortgage Resolutions, Inc. with operations in Ohio, Indiana, Alabama, Illinois, Michigan, Minnesota, North Dakota, North Carolina, Wisconsin, Tennessee, Mississippi, Georgia, Florida, Nevada, Mississippi and Colorado.

FDMF News:

August 12 - Freedom Financial Holdings Announces Definitive Agreement to Launch Heavy-Oil Conversion Technology

First Properties Could Top Over $800 Million Oil Reserves

Freedom Financial Holdings, Inc. (OTC: FDMF | Quote | Chart | News | PowerRating) CEO Brian Kistler announced that the Company has signed the definitive agreement with WI Technology, LLC, an Oil Technology company, to form a Joint Venture to launch a new Heavy-oil conversion technology and begin production on reserves within Southwest Missouri.

Brian Kistler, the Company's Chairman and Chief Executive Officer, commented, "We gave ourselves 60 days to get the final agreement and terms completed, however the excitement from all parties gave this initiative top priority. The opportunity to partner with WI Technology and participate in this project is absolutely a huge opportunity for the Freedom Financial Holdings shareholders. We believe the technical and economic viability of this breakthrough technology has the potential to significantly increase and change the production of heavy oil resources."

The Company will be issuing WI Technology, LLC (10) ten million restricted common shares in exchange for 12.5% working interest in all oil leases. The parties placed an initial value of $500,000 or $0.05 per share for this transaction.

Kistler further commented, "The first oil production leases contain approximately 1500 acres with oil reserves that are estimated to be over $800 million (USD). After first witnessing the conversion process of old hard asphalt separate back into its original form with sand and gravel at the bottom and pure oil at the top, we at Freedom Financial Holdings and WI Technology believe this proprietary heavy oil conversion technology could potentially change part of the processes involved with domestic oil production."

"Final negotiations with the drilling company should be completed over the next few days. Once this agreement is consummated we hope to be producing oil within 60-90 days. The most exciting point concerning this whole initiative is that we know where the oil is. This is not exploration, but production. Samples of oil from the first lease have been evaluated and first indications show that we have very good grade of oil. The Missouri Department of Natural Resources estimates Missouri has between $35 billion and $42 billion in heavy-oil reserves," concluded Kistler.

To learn more about Heavy Oil, visit http://pubs.usgs.gov/fs/fs070-03/fs070-03.html.

CONVERTED ORGANICS INCORPORATED (NASDAQ: COIN | Quote | Chart | News | PowerRating) "Up 19.79% in morning trading"

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

Converted Organics, based in Boston, MA, is dedicated to producing valuable all-natural, organic soil amendment or fertilizer products through food waste recycling. The company uses proven, state-of-the-art technologies to create a product that helps grow healthier food and improve environmental quality. Converted Organics plans to sell and distribute its environmentally-friendly fertilizer products in the retail, turf management, and agribusiness markets. Converted Organics' fertilizer products will be produced in both a dry pellet and liquid concentrate. Converted Organics' products have been tested in numerous field trials for more than a dozen crops with the result that, on average, the net value of the farmer's crop increased 11-16%, depending on the particular crop and product application. This is due, in part, to the disease suppression characteristics of the product, which reduce or eliminate the need for other costly, often toxic, crop protection applications. Increased use of nitrogen in commercial agriculture and turf grass applications, such as golf courses, has reduced the soil's ability to absorb nitrogen and other nutrients. Using the products produced by Converted Organics helps restore the soil by replenishing these micronutrients. This reduces the amount of nitrogen required in a virtuous cycle that benefits from long-term use. As a result, use of the product will reduce chemical run-off to streams, ponds and rivers, an objective with significant long-term benefits to the environment. The products have a long shelf life compared to many other organic fertilizers. In a number of lab and field trials, the liquid product has been shown to be effective in mitigating powdery mildew, a leaf fungus that effects most plants and grasses and restricts the flow of water and nutrients to the plant. The Company's fertilizer products can be used on a stand-alone basis or in combination with more traditional fertilizers and crop protection products. Converted Organics expects to benefit from increased regulatory focus on organic waste processing and on environmentally-friendly growing practices.

COIN News:

August 12 - Converted Organics Receives Approvals in Rhode Island for the Development of a Third Manufacturing Facility

Converted Organics Inc. (Nasdaq: COIN | Quote | Chart | News | PowerRating) announced that the company is poised to proceed with the development of its third organic soil amendment and fertilizer manufacturing facility in the U.S.

On August 1, the Rhode Island Industrial Facilities Corporation (RIIFC) gave initial approval to the Company's Revenue Bond Financing Application for up to $15 million for the construction of the new Converted Organics facility in Johnston, R.I. On August 5, the Rhode Island Resource Recovery Corporation (RIRRC) gave final approval to Converted Organics to lease nine acres of land in the newly created Lakeside Commerce Industrial Park in Johnston. Converted Organics previously filed an application with the Rhode Island Department of Environmental Management for the operation of a Putrescible Waste Recycling Center at that site.

"We are extremely pleased to have begun the process that we believe will enable Converted Organics to develop our third state-of-the-art manufacturing facility in two years," said Edward J. Gildea, President of Converted Organics. "The Johnston, Rhode Island plant will play an integral role in helping us meet demand from our agribusiness, municipal, retail and turf management customers for our all-natural organic fertilizers. We look forward to continued progress on the development of this site. Upon completion of this plant, Converted Organics' three plants will be permitted to process up to 850 tons of food waste per day."

"As an innovator in green technologies, the addition of Converted Organics to Rhode Island is an important win in our economic development plan to support new and emerging businesses, and I welcome them to the State," said Rhode Island Governor Donald L. Carcieri. "Green businesses create new 'green collar' jobs, as well as solid opportunities to connect existing small and local businesses to the emerging market opportunities, meeting the demand for green goods and services."

Converted Organics began operations at the Company's new flagship organic soil amendment and fertilizer processing facility in Woodbridge, New Jersey in June. Converted Organics is also currently expanding capacity at the company's West Coast manufacturing plant in Gonzales, CA, which was acquired in January of this year.

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