OTCPicks.com: OTCPicks.com Daily Market Movers Digest Midday Report for Thusday, August 14th LLSR, SPNG, SMWF, GWDC, MBND

Thu. August 14, 2008; Posted: 12:18 PM

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LANTIS LASER INCORPORATED (OTC: LLSR)

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

Company Profile: http://www.otcpicks.com/lantis-laser/lantis-laser-2.htm

Lantis Laser was formed to commercialize the application of novel technologies in the dental industry. The criteria for selected products include competitive edge, exclusivity and large market potential. Lantis is currently in Phase 2 development, moving through beta systems, product development and application for FDA clearance and plans to launch the OCT Dental Imaging System in the first quarter of 2009. Lantis has exclusive rights to the application of OCT technology in the field of dentistry under its license Agreements with Lawrence Livermore National Laboratory (exclusive); LightLab Imaging (non-exclusive) and AXSUN (exclusive). To find out more about Lantis Laser, visit www.lantislaser.com.

LLSR News:

August 14 - Lantis' OCT Dental Imaging System Capable of Providing Array of Diagnostic Scanning Modalities

OCT System Can Provide Macro, Micro and Nano Imaging of Dental Tissue

Lantis Laser Inc.'s (OTC: LLSR | Quote | Chart | News | PowerRating) (www.lantislaser.com) ongoing research into the application of Optical Coherence Tomography (OCT) imaging technology demonstrates that Lantis' OCT Dental Imaging System(tm) can provide a wide array of imaging technology and modalities that can provide fast and accurate information to aid in the diagnosis of dental disease and microstructural defects.

OCT researchers have shown the ability of OCT to be used for wide-area scanning as a screening aid as well as a micro scanning device for obtaining detailed quantitative and qualitative information to aid dental professionals in making diagnostic decisions. Recent research has also shown that the use of nano particles can further enhance diagnostic ability of OCT.

Stan Baron, President & CEO of Lantis commented that, "The concept of macro imaging, micro imaging and nano imaging with OCT can provide dentists with the diagnostic aid needed to practice minimally invasive dentistry and transition to the medical model - find disease early and treat it early. The possibilities presented by OCT technology and new research findings are very exciting and Lantis will continue to pursue relationships with research institutions where these concepts are being developed for commercial implementation."

Lantis has a strong OCT portfolio of licensed intellectual property and a strategic supply agreement for its OCT Engine with Axsun Technologies that ensures its dominance in the dental market for this next generation diagnostic imaging modality. Its OCT system provides chairside, real-time images of dental structures at a resolution of up to 10 times x-ray, and as it is light-based there is no harmful radiation. Providing more detailed information than x-ray, it is anticipated that it will likely become the dominant imaging modality in the dental office, after its introduction which is targeted for first quarter 2009.

SPONGETECH DELIVERY SYSTEMS (OTCBB: SPNG)

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

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

SpongeTech Delivery Systems is a development stage company which designs, produces, markets and distributes cleaning products for vehicular use utilizing patented technology relating to sponges containing hydrophilic (liquid absorbing) foam polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, which is loaded with specially formulated soaps and wax that are released when the sponge is applied to a surface with minimal pressure. The Company's products are currently designed specifically for vehicular cleaning use. However, the Company is exploring the possibility of using its patented technology for the development of sponges for other uses, including for use with anti-bacterial, bath and kitchen soaps for household uses, as well as for use as a children's bath foam sponge.

SPNG News:

August 13 - Spongetech Delivery Systems Inc. Rated 'Speculative Buy,' Target Price $0.19 by Beacon Equity Research

Spongetech Delivery Systems Inc. (OTCBB: SPNG | Quote | Chart | News | PowerRating) has been rated a "Speculative Buy" with a price target of $0.19 by Beacon Analyst, Victor Sula, Ph.D.

The full report is available at www.beaconequity.com/adpages/SPNG.

In the report, the analyst writes, "SPNG expects to report fourth-quarter revenues approaching $3.9 million and enters FY 2009 with confirmed order backlog exceeding $27 million

We estimate revenues will reach $5.5 million in FY 2008 and $28.2 million in FY 2009. Going forward, we expect SPNG to maintain 30% average annual longer-term growth as it introduces new products through major U.S. retailers and rapidly penetrates key international markets."

Other companies in the mining industry include: Ecolab Inc. (NYSE: ECL), Clorox Co. (NYSE: CLX), Church & Dwight Co. Inc. (NYSE: CHD) and Procter & Gamble Co. (NYSE: PG).

SEAMLESS WI-FI INCORPORATED (OTCBB: SMWF | Quote | Chart | News | PowerRating) "Up 200.00% in morning trading"

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

Seamless Wi-Fi, Inc., through its subsidiaries, engages in the development and marketing of Internet communications products and services in the United States. The company provides wireless Internet access service known as wireless fidelity (Wi-Fi) in Wi-Fi hot spots. It also develops software program that provides Wi-Fi users with Seamless-Secure Internet Browsing, which encrypts the user's Wi-Fi signal. In addition, the company develops Phenom Encryption Software, which enables secure communications over Wi-Fi, local area networks, and wide area networks with its virtual Internet extranet network technology. The Phenom software provides secure peer mail, chat, file transfer, and remote personal computer access in a two-megabyte download; and its application protocol interface supports voice-over Internet protocol, video voice conferencing, and white boarding. Further, it manufactures and markets the S-XGen ultra mobile personal computer and communications device. The company was founded in 1983 as International Food and Beverage, Inc. and changed its name to Internet Business's International, Inc. in 1998. Further, it changed its name to Alpha Wireless Broadband, Inc. in 2004 and to Seamless Wi-Fi, Inc. in 2005. Seamless Wi-Fi, Inc. is based in Las Vegas, Nevada.

SMWF News:

August 14 - Seamless Wi-Fi, Inc. Signs Agreement with the Global Leader in Satellite Navigation

Seamless Wi-Fi, Inc. (OTCBB: SMWF | Quote | Chart | News | PowerRating) announced that its subsidiary, Seamless Internet, Inc., has signed an agreement with Garmin USA, Inc., that will provide Seamless Internet with access to Garmin Mobile(TM) XT software. The Garmin Mobile(TM) XT software will be installed on Seamless Internet's S-Gen(TM) the UMPC (Ultra Mobile Personal Computer), providing the S-Gen's GPS system Garmin's maps in addition to its computer, phone, and MP3 player capabilities.

"This agreement is a tremendous breakthrough in the development of the S-Gen(TM). We have been very cautious in selecting GPS software to use on our flagship product and Garmin is a world leader in GPS Satellite navigation. There is no one better and we are looking forward to a long business relationship with such an outstanding company," stated John Domerego, President of Seamless Internet, Inc.

ABOUT GARMIN

Garmin Mobile XT gives customers turn-by-turn, voice prompted directions to specific street addresses or preloaded points of interest - such as restaurants, hotels, ATMs, and gas stations. It also includes Google Local search capability so that users can harness more points of interest information via the world wide web. Thanks to Google Local, customers can type in keywords and search results are based on the user's current location and are sorted by geographic relevance. Detailed information can be displayed including descriptions, business address & phone numbers, and a rating from Google.

GROWERS DIRECT COFFEE (OTCBB: GWDC | Quote | Chart | News | PowerRating) "Up 52.94% in morning trading"

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

Growers Direct Coffee Company, Inc., through its subsidiaries, markets and distributes green bean coffee grown in Papua New Guinea, Jamaica, and Ethiopia. It sells its coffee beans directly to coffee roaster retailers, commercial roasters, coffee brokers, and gourmet roasters and retailers. The company also offers Uncommon Grounds brand of roasted coffee, tea, and cafe supplies and equipment to coffee shops, restaurants, and directly to consumers. It offers its products in the United States, Canada, and Europe. Growers Direct Coffee Company has a strategic partnership with PNG Coffee Growers Federation, Ltd. The company was founded in 2001. It was formerly known as Coffee Pacifica, Inc. and changed its name to Growers Direct Coffee Company, Inc. in 2007. The company is based in Berkeley, California.

GWDC News:

August 12 - Growers Direct Coffee Appoints Mick Rynning as a Director

Growers Direct Coffee Company, Inc. (OTCBB: GWDC | Quote | Chart | News | PowerRating) announced that the board of directors have appointed Mr. Mick Rynning as a new director of Growers Direct Coffee Company, Inc. ("GWDC") Mr. JD Douthitt becomes the new Chairman of the Board and the other director Mr. Nepal Muhuri is the interim Chief Financial Officer.

Chairman JD Douthitt commented that "Mr. Rynning is a hands-on guy who has the experience and exceptional credentials in the food and beverage industry, particularly in the coffee and franchise sector, that I am sure will greatly benefit the future growth of GWDC. I welcome Mr. Rynning as a director and will work very closely with him as we embrace the challenges of turning around GWDC."

Mick Rynning said "I have been aware of Growers Direct Coffee Company for some time and have admired their business model and top-shelf product offerings. I very much look forward to working with the Board of Directors to assess the overall state, structure and organization of GWDC, and to formulate a new strategic roadmap for our success. While shareholder value is fundamentally important, my focus will be on the drivers, key performance indicators, and relationships that will lead to increased value for our shareholders, business partners, and customers, alike. We will keep our shareholders informed as we move forward."

Mr. Rynning holds a Bachelor of Science degree in Management from Oklahoma City University, Oklahoma, 1983, as well as Certificate, Management 2000 Franchise Business School, Houston, Texas, 2001. His past and current affiliations include: Executive Board Member, Fast Casual Magazine Executive Alliance, Speaker/Educational Panel Member, National Restaurant Association, International Franchise Association, National Coffee Association USA, Specialty Coffee Association of America.

Mr. Rynning is a result-oriented business executive with wealth of experience in senior management positions and proven achievements in companies ranging from new regional and national start-ups to multi billion dollar International franchise operations. Drawing on his diverse experience of management and operations, Mr. Rynning is uniquely poised to take GWDC to an improved future.

Mr. Rynning was recently the President of Ellianos Coffee Company based in Lake City, Florida. Previously, Mr. Rynning served as a Director of International Business Development for Church's Chicken based in Atlanta, Georgia. Mr. Rynning's other business and franchise experience includes working as both the National Franchise Manager and Georgia District Operations Manager for OneSource Franchise Systems of Atlanta, Georgia. Mr. Rynning has also worked as the Manager of International Franchise Administration for Atlanta-based AFC Enterprises, Inc., and working with the CEOs of AFC's four subsidiary brands (Popeyes Chicken & Biscuits, Church's Chicken, Cinnabon, and Seattle's Best Coffee).

MULTIBAND CORPORATION (NASDAQ: MBND | Quote | Chart | News | PowerRating) "Up 42.28% in morning trading"

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

Multiband Corporation, together with its subsidiaries, provides software and integrated billing services, including voice, data, and video services in the United States. The company offers services to multiple-dwelling units, including apartment buildings, condominiums, and time share resorts, as well as provides local and long distance telephone cable television, telephone, and Internet services. It also operates as a master service operator for DirecTV, a provider of satellite television service. The company offers satellite television services to residents of multi-dwelling units through a network of affiliated operators. As of March 15, 2008, Multiband Corporation had approximately 95,300 owned and managed subscriptions. The company was founded in 1933. It was formerly known as Vicom, Incorporated and changed its name to Multiband Corporation in 2004. The company is based in New Hope, Minnesota.

MBND News:

August 14 - Multiband Announces Record Second Quarter Results

Company Reports Net Income ; Operating Income Improves by $2.2 Million

Multiband Corporation, (Nasdaq: MBND), the nation's largest DIRECTV Master System Operator (MSO) for Multiple Dwelling Units, announced record 2008 second quarter financial results for the period ended June 30, 2008. The Company recorded revenues of $10,805,707, an increase of 175.5% compared to $3,921,726 for the quarter ended June 30, 2007. Revenues increased as a result of organic growth and the acquisition of Michigan MicroTech, Inc. (MMT), offset by a decline in subscribers as a result of previous subscription sales. Income from Operations was $964,920 compared to a Loss from Operations of $(1,253,006) in the year-earlier period. The Company generated net income of $56,441, compared to a net loss of $(1,279,979) in the second quarter of 2007.

EBITDA, a non-GAAP measure, was $1,656,699 for the 2008 second quarter, an improvement of over $1.49 million compared to the 2007 second quarter. EBITDA for the 2008 first quarter was $253,428. The Company reported a net loss to common stockholders of $(47,221), or $0.00 per share, compared to a net loss to common stockholders of $(1,400,453), or $(0.20) per share in the year earlier period. The net income to common stockholders includes primarily non-cash dividend expense on preferred stock of $103,662 and $120,474 for the 2008 and 2007 second quarters respectfully.

Selling, general and administrative expenses were $2,560,755 or 23.7% of revenue, compared to $2,308,426 in the prior year's quarter, or 58.8% of revenue for the similar period a year ago. Depreciation and amortization for the 2008 second quarter was $879,055 compared to $995,068 in the year ago period.

"We are pleased to report strong operating results in a challenging environment," said James L. Mandel, CEO of Multiband. "These results reflect the integration of MMT and the synergies between the companies that have resulted in revenue growth and improved margins, while reducing operating expenses. We expect our business momentum to continue throughout the year, and to create further synergies."

Revenues for the six month period ended June 30, 2008 increased 98.9% to $16,519,936 from $8,306,681 for the same period in 2007. This overall increase in revenues is primarily due to organic growth and the purchase of MMT in March 2008, Revenue was adversely impacted by the sale of approximately 13,000 subscribers which occurred throughout the first six months of 2007 in efforts to strategically sell unprofitable owned assets.

EBITDA, a non-GAAP measure, was over $1.91 million for the first six months of 2008, an improvement of nearly $1.6 million compared to the first six months of fiscal 2007. Income from operations was $207,915 during the first six months of 2008, compared to a loss of $(2,485,051) during the first half of 2007. Net loss was $(807,957) for the first six months of 2008, compared to $(2,642,374) in the same period in 2007. Net loss attributable to common stockholders, including preferred stock dividends of $3,984,682, was $(4,792,639) or $(0.53) per share, compared to a net loss, including preferred stock dividends of $360,401, of $(3,002,775) in the same period one year earlier.

In May, 2008 Multiband announced today that it had entered into a Letter of Intent to acquire a 51% interest in DirecTech Southwest ("Southwest"), a wholly-owned subsidiary of DirecTECH Holding Co ("DirecTECH"). Under the terms of the transaction, Multiband would acquire a controlling interest in Southwest for $7.65 million, comprised of 1.9 million shares of Multiband valued at $2.50 per share, and the issuance of a $2.95 million five-year note. Upon completion of the transaction, scheduled for 2008, Multiband will consolidate the operating results of Southwest. Southwest had unaudited 2007 results of $67 million in revenue and was profitable.

Based in Louisiana with additional operations in Texas, Southwest provides installation services for DIRECTV in those areas. The Company has approximately 1,000 employees. and is one of the largest subsidiaries of DirecTECH. Multiband previously acquired a 51% interest in Michigan Microtech, formerly a wholly owned subsidiary of DirecTECH.

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For full details for GWDC click here.

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