OTCPicks.com: OTCPicks.com Daily Market Movers Digest Midday Report for Tuesday, November 4th GCHK, MEMY, MECA, WWAT, SCLD

Tue. November 04, 2008; Posted: 12:25 PM

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GREENCHEK TECHNOLOGY INCORPORATED (OTCBB: GCHK | Quote | Chart | News | PowerRating) "Up 2.78% in morning trading"

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

Company Profile: http://www.otcpicks.com/greenchek-technology/greenchek-technology.htm

GreenChek Technology, Inc. manufactures and distributes hydrogen injection technology devices that primarily focus on mobile transportation applications and industrial generative power applications. It also provides mobile greenhouse gas emissions reduction technology. The company's Onboard Hydrogen Generation and Injection technology is used for emissions reduction technology and fuel economy enhancement in trucks, locomotives, and automobile engines. It has operations in the United States, Canada, Asia, and Europe. The company, formerly known as Ridgestone Resources, Inc., was founded in 2006 and is headquartered in San Francisco, California.

GCHK News:

November 4 - GreenChek Announces Plans for European Implementation on the Heels of Major LOI Announcement

GreenChek Technology Inc. (OTCBB: GCHK), a leading globally focused provider of hydrogen based technology for mobile transportation and stationary power generation applications, is pleased to announce that we are aggressively preparing for implementations now that we have closed the recent LOI signed to form a Strategic Alliance with a world-class and world-renowned distributor Technical Environmental Solutions Europe Ltd. (TESEL).

GreenChek manufactures an emission reducing device simply known as the ERD 1.0, which can be retrofitted to any vehicle or combustible engine regardless of fuel source. This device reduces vehicle emissions as well as increases fuel economy.

"We are pleased with the ongoing discussions with TESEL, but more importantly we are excited about being able to quickly move towards our strategic implementation sales targets in Europe," said GreenChek's President and Chief Executive Officer Lincoln Parke. "As such, we are completing our discussions regarding our initial European installs."

MEMORY PHARMACEUTICALS CORPORATION (NASDAQ: MEMY | Quote | Chart | News | PowerRating) "Up 46.73% in morning trading"

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

Memory Pharmaceuticals Corp., a biopharmaceutical company, focuses on the discovery and development of drug candidates for the treatment of central nervous system conditions. It offers drugs for neurological diseases associated with aging, such as Alzheimer's disease, as well as psychiatric disorders, such as schizophrenia, cognitive impairment associated with schizophrenia (CIAS), and depression. The company's products include MEM 1003, a neuronal L-type calcium channel modulator that is in phase II clinical trials for the treatment of Alzheimer's disease and bipolar disorder; and nicotinic alpha-7 agonists, including MEM 3454, a phase IIa clinical trial product and MEM 63908, a phase I clinical trial product for the treatment of Alzheimer's disease and CIAS. Its products also comprise PDE4 inhibitors, including MEM 1414, a phase I clinical trial program, as well as MEM 1917 for CNS disorders and depression; PDE10 Inhibitor program; and 5-HT6 Antagonists for the treatment of Alzheimer's disease, schizophrenia, attention deficit disorder, and obesity. The company has collaborations with F. Hoffman-La Roche, Ltd. for the development of nicotinic alpha-7 agonists; and Amgen, Inc. for the development of PDE10 inhibitors. In addition, it has a development agreement with The Stanley Medical Research Institute to develop MEM 1003 as a treatment for bipolar disorder. The company was founded in 1997 and is based in Montvale, New Jersey.

MEMY News:

October 31 - Memory Pharmaceuticals Granted Extension to Comply with NASDAQ Listing Requirements

Memory Pharmaceuticals Corp. (Nasdaq: MEMY | Quote | Chart | News | PowerRating) announced that the NASDAQ Listing Qualifications Panel has granted the Company's request for an extension until December 3, 2008 to comply with the NASDAQ Capital Market minimum market capitalization requirement of $35 million or the alternative requirement of $2.5 million in stockholders' equity in order to remain listed. There can be no assurance that the Company will achieve compliance by the specified deadline.

MAGNA ENTERTAINMENT CORPORATION (NASDAQ: MECA | Quote | Chart | News | PowerRating) "Up 23.14% in morning trading"

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

Magna Entertainment Corporation (MEC), North America's largest owner and operator of horse racetracks based on revenue, develops, owns and operates horse racetracks and related pari-mutuel wagering operations, including off-track betting facilities. MEC also develops, owns and operates casinos in conjunction with its racetracks where permitted by law. MEC owns and operates AmTote International, Inc., a provider of totalisator services to the pari-mutuel industry, XpressBet , a national Internet and telephone account wagering system, as well as MagnaBet internationally. Pursuant to joint ventures, MEC has a fifty percent interest in HorseRacing TV , a 24-hour horse racing television network, and TrackNet Media Group LLC, a content management company formed for distribution of the full breadth of MEC's horse racing content.

MECA News:

November 3 - Magna Entertainment Corp. Announces Termination of Agreement to Sell Excess Real Estate

Magna Entertainment Corp. (Nasdaq: MECA | Quote | Chart | News | PowerRating) (TSX: MEC.A) ("MEC" or the "Company") announced that its agreement to sell approximately 489 acres of excess real estate located in Ocala, Florida to Lincoln Property Company and Orion Investment Properties, Inc. for a purchase price of $16.5 million cash has been terminated by the prospective purchasers. MEC still intends to sell the Ocala property and will re-initiate its marketing efforts.

WORLDWATER & SOLAR(OTC BB: WWAT.OB) "Up 34.38% in morning trading"

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

WorldWater & Solar Technologies Corp. is a full-service solar electric engineering, design and water management company with unique, high-powered and patented solar technology providing solutions to a broad spectrum of electricity and water supply problems. ENTECH, Inc., a subsidiary of WorldWater, is a high-technology solar energy company specializing in patented solar concentrating and PVT systems. ENTECH's systems can produce electrical output, a combination of electricity and thermal energy or thermal energy alone. Commercial applications vary in size from one kilowatt remote power units to large, multi-megawatt utility power plants.

WWAT News:

November 3 - WorldWater & Solar Technologies to Host Third Quarter Conference Call on November 10, 2008

WorldWater & Solar Technologies Corp. (OTCBB: WWAT), developer and marketer of proprietary high-horsepower solar systems, today announced that it will host a conference call at 10:00 a.m. Eastern on November 10, 2008 for the third quarter ended September 30, 2008. Earnings will be issued before the market opens that day, and the filing of the company's results with the SEC on Form 10-Q will follow. During the call, Frank Smith, CEO, will review the company's operations and financial results. The telephone number for the conference call is 617-614-4909, conference ID #81086229. A live webcast of the call will also be available on the company's website, www.WorldWater.com.

The webcast will be archived on the site, and investors will be able to access an encore recording of the conference call for thirty days by calling 617-801-6888, conference ID #26432284. The encore recording will be available two hours after the conference call has concluded.

STEELCLOUD INCORPORATED (NASDAQ: SCLD | Quote | Chart | News | PowerRating) "Up 19.35% in morning trading"

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

SteelCloud is a developer and manufacturer of compliance-based technology solutions. SteelCloud designs and manufactures specialized servers and appliances for federal integrators, software vendors and volume users. For both the government and commercial markets SteelCloud delivers integration services and software focused on risk management and network management solutions. SteelCloud's ISO 9001:2000 certified Quality Management System provides procedures for continuous quality improvement in all aspects of its business. Over its 20-year history, SteelCloud has won numerous awards for technical excellence and customer satisfaction.

SCLD News:

November 4 - Joint Venture Initiates Global Thrust for SteelCloud's Appliances for the BlackBerry Enterprise Solution

SteelWorks Mobile is Now Available in the Middle East and Africa Markets

SteelCloud, Inc. (Nasdaq: SCLD), a developer and manufacturer of compliance-based technology solutions, announced that it has formed a joint venture, SteelCloud Middle East & Africa Free Zone Company (SteelCloud MEA FZCO), with XSAT FZE, a telecommunication services company based in the United Arab Emirates. SteelCloud MEA, focused on the Middle East and Africa, will market and support SteelWorks Mobile appliances developed for BlackBerry Enterprise Server from Research In Motion (Nasdaq: RIMM) (TSX: RIM).

"Although ubiquitous throughout most of the world, the BlackBerry solution is still relatively new to the Middle East and Africa," said Robert E. Frick, CEO of SteelCloud. "Our joint venture, based in Dubai, allows us to take full advantage of these dynamic new international markets. We believe our SteelWorks Mobile appliance is perfectly positioned to allow new customers to quickly implement a BlackBerry Enterprise Server environment. Partnering with a local and trusted partner, through this joint venture, is the most effective way to penetrate these markets and provide customers with on-site sales and technical support."

"We are very excited to partner with SteelCloud to expand their appliance business for BlackBerry customers internationally," said Gleb Larionov, XSAT General Manager. "With our knowledge, experience, and presence in the Middle East and African markets, we can facilitate the growth of the SteelWorks Mobile appliance sales. There are limited BlackBerry technical resources available in our markets so we believe that SteelWorks Mobile, with its greatly simplified approach to installation and support, is perfectly positioned to help drive the adoption of the BlackBerry Enterprise Solution."

Initiating their strategic joint venture, SteelCloud and XSAT attended the 8th annual GITEX TECHNOLOGY WEEK 2008 in Dubai, UAE in October. GITEX, one of the top IT events in the region, builds upon the global interest in the Middle East's information and communication technology (ICT) free zone by offering a week of dedicated trade segments. Focusing on the region's fastest growing technology sectors, GITEX delivers focused forums for key buyers, decision-makers, and suppliers from across the Middle East.

ABOUT THE STEELWORKS MOBILE FAMILY OF BLACKBERRY APPLIANCES

SteelWorks Mobile and FedMobile are appliances that integrate high performance server hardware, Windows Server 2003, and the BlackBerry Enterprise Server software into a plug & play solution that provides customers with implementation of a BlackBerry Enterprise Server environment in less than 30 minutes. Microsoft Exchange, IBM Lotus Domino or Novell GroupWise email systems are supported in every SteelWorks appliance.

SteelWorks FedMobile, builds upon the SteelWorks Mobile foundation. The SteelWorks FedMobile appliance was specifically developed for Department of Defense (DoD) customers. Hundreds of security guidelines specified by the Defense Information Security Agency's (DISA) Technical Implementation Guide (STIG) mandate (DoD Instruction 8500.2) have been implemented in SteelWorks FedMobile. The SteelWorks FedMobile appliance (with its associated operating system) is compliant with the DoD Wireless STIG BlackBerry Security Checklist (v.5), Windows 2003 Security Checklist (v.6), and the .NET Framework security checklist (v.1). It is "Gold and Platinum Disk" compliant in conjunction with normal site-specific set-up functions. The SteelWorks Mobile appliance enables a full STIG-compliant installation of a BlackBerry Enterprise Server environment in less than 60 minutes.

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