OTCPicks.com: OTCPicks.com Daily Market Movers Digest Midday Report for Friday, November 7th RNNM, BSTI, IMAX, WPRT

Fri. November 07, 2008; Posted: 11:50 AM

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RONN MOTOR COMPANY (OTC: RNNM | Quote | Chart | News | PowerRating) "Up 6.90% in morning trading"

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

Company Profile: http://www.otcpicks.com/ronn-motor-company.htm

Headquartered in Austin, Texas, Ronn Motor Company, Inc. is a design and manufacturing company focused on the leading edge engineering of environmentally friendly, finely built premium automobiles and technology. These technology systems include Hydrogen Fuel, Fuel cells, and Plug in-electrics will be incorporated into our automobiles and made available for aftermarket applications. Our products, coupled with RMC's core values of a strong sense of ethics, environmental sensitivity and premium quality, position the company as one of the new leaders in an automotive industry transitioning toward fuel efficiency.

RNNM News:

November 7 - Dr. Joe Vitale, Marketing Guru and Renowned Marketer, Buys Ronn Motor Company's Scorpion HX

Ronn Motor Company (OTC: RNNM), announced that best-selling author and celebrity marketer, Dr. Joe Vitale, has purchased a Limited Edition Scorpion HX.

Dr. Vitale stated, "I'm in the movie, 'The Secret,' but the real secret is a small company outside of Austin, Texas called Ronn Motor Company. They are making history with their breakthrough H2GO Real-Time Hydrogen Injection system and building a car that will turn heads and reduce the impact on the environment."

Dr. Vitale is the President of Hypnotic Marketing Inc., a marketing consulting firm based in Texas. He has been called "the Buddha of the Internet" for his combination of spirituality and marketing acumen. His best-selling book, "The Greatest Money Making Secret in History" and e-book "Hypnotic Writing" are a few of his outstanding literary achievements.

Ronn Maxwell, CEO of Ronn Motor Company, said, "We are honored to have the support of Dr. Vitale, a man who is respected for his creative thinking and innovative outlook on life. His endorsement of our automobile and alternative fuel strategy supports our resolve for automotive excellence and technological development."

Dr. Vitale added, "I love cars and the Scorpion is the only automobile that combines race car performance and unique styling without sucking the life out of our planet and that's a good thing."

Ronn Motor Company builds the eco-exotic Scorpion and Limited Edition Scorpion HX and will sell its hydrogen system in the automotive aftermarket for all cars, light trucks and commercial vehicles. The H2GO system enhances fuel mileage and reduces emissions - both of which are concerns of the American public.

BRITE-STRIKE TECHNOLOGIES INCORPORATED (OTC: BSTI)

Detailed Quote: www.otcpicks.com/quotes/BSTI.php

Company Profile: http://www.otcpicks.com/brite-strike/brite-strike.htm

Brite-Strike Tactical Illumination Products, Inc. was started by two police officers to create world-class tactical LED flashlights that had the features that police officers and citizens need to keep them safe. Brite-Strike makes a promise to always use the latest technology, world-class components, highest design and manufacturing standards, so consumers can rely on Brite-Strike products when they are needed.

BSTI News:

November 6 - Brite-Strike Tactical Illumination Products, Inc.'s Personal Protection System to Be Featured in the Prestigious Frontgate Christmas Catalog

Brite-Strike Tactical Illumination Products, Inc. (OTC: BSTI | Quote | Chart | News | PowerRating) announced that its "Lightning Strike" Personal Protection System will be featured in Frontgate's national Christmas catalog, and that shipments for the initial order will begin this week. The product is also being carried at 28 BJ's Wholesale Club locations, which can be found at www.brite-strike.com.

"This product, for the money, may be the most effective defensive tool available for women today, particularly in preventing assaults and rapes," said Glenn Bushee, President of Brite-Strike. "The gift set includes a powerful, but compact, tactical flashlight, with the patented tactical touch hi-low-strobe switch, a leather holster, as well as a personal safety alarm, that can emit a shrieking noise of up to 125 db, and can be effective in warding off dogs and assailants. The package includes other accessories, and is packaged in a presentation gift box."

The company also announced that sales of its flagship model, the "Tactical Blue-Dot" flashlight, currently being featured in the Herrington Catalog, remain very strong, and are expected to significantly exceed last year's sales, even in this challenging economic environment. The company has been informed that its product is the top selling product in the catalog at that price-point. "In tough economic times, such as now, the number of robberies and assaults rise dramatically, which increases the demand for all our products," said Mr. Bushee, president of Brite-Strike.

In other news, the company announced that it had shipped its first order to the Pennsylvania Prison System, an area where the company see's significant growth opportunities. The company is also currently in discussions with one major national retailer for the placement of the "Lightning Strike," and is in late-stage testing with one branch of the US Military.

The company recently filed a Form 15 with the SEC. This form is in preparation for the company's financial audit, and intent to file as an SEC reporting company, with application to file for listing on the OTC BB the first half of 2009.

"We are extremely optimistic about the future of Brite-Strike. We feel the current share price dramatically undervalues the company, and its long-term growth prospects. We project dramatic increase in revenues over the next several years, both from our existing product line, as well as new products," said Mr. Bushee. "We appreciate our loyal shareholders, and in acknowledgement of their support, we would like to offer any shareholders ordering product through customer service, at 781-585-5509, a discount on all their purchases, with free gift-wrapping for all our customers for the holiday season."

IMAX CORPORATION (NASDAQ: IMAX | Quote | Chart | News | PowerRating) "Up 7.56% in morning trading"

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

IMAX Corporation is one of the world's leading entertainment technology companies, specializing in immersive motion picture technologies. The worldwide IMAX network is among the most important and successful theatrical distribution platforms for major event Hollywood films around the globe, with IMAX theatres delivering the world's best movie presentations using proprietary IMAX, IMAX 3D, and IMAX DMR , technology. IMAX DMR is the Company's groundbreaking digital re-mastering technology that allows it to digitally transform virtually any conventional motion picture into the unparalleled image and sound quality of The IMAX Experience. IMAX's renowned projectors display crystal-clear images on the world's biggest screens, and the IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of September 30, 2008, there were 320 IMAX theatres operating in 42 countries.

IMAX News:

November 6 - James Cameron's Avatar to Be Released in IMAX 3D on December 18th 2009

Twentieth Century Fox Enlists IMAX 3D to Complete Format Menu for Moviegoers

IMAX Corporation (Nasdaq: IMAX | Quote | Chart | News | PowerRating) (TSX: IMX) and Twentieth Century Fox announced that they have reached agreement on material terms to release the highly anticipated 3D motion picture Avatar in IMAX 3D simultaneously with the motion picture's premiere in conventional 3D theatres on December 18, 2009. Avatar is directed and written by Academy Award Winner James Cameron and stars Sam Worthington, Zoe Saldana, Stephen Lang, Michelle Rodriguez and Sigourney Weaver. Cameron will also produce with his Lightstorm Entertainment partner, Jon Landau. Avatar will be digitally re-mastered into the unparalleled image and sound quality of The IMAX Experience .

"Our goal with Avatar is to revolutionize live-action 3D moviemaking, and I have no doubt that it will look and sound incredible in IMAX 3D," said director James Cameron. "The larger field of view and powerful surround sound of an IMAX theatre will completely immerse the audience in a way that cannot be experienced anywhere else."

"We are delighted to be releasing Avatar in all available theatrical formats, and by including the premium IMAX 3D format, we can give consumers the entire spectrum of choice at the box office," said Bruce Snyder, President, Domestic Distribution, Twentieth Century Fox. "The IMAX theatre network is increasingly becoming an important part of our distribution strategy, as it continues to expand with its new digital projection system."

"Avatar is one of the most anticipated movies of 2009 and it is a powerful addition to our film slate," said IMAX Co-CEO's Richard L. Gelfond and Bradley J. Wechsler. "We are particularly pleased with Twentieth Century Fox's increasing interest in the IMAX theatre network, which is largely fueled by the rollout of our digital projection systems and IMAX's track record of strong box office performance."

"James Cameron is a genius filmmaker. His vision and 3D expertise make Avatar a natural fit for IMAX and we believe it will resonate with our audiences as well as the millions of James Cameron fans across the globe," added Greg Foster, Chairman and President of IMAX Filmed Entertainment. "Every aspect of this film was meticulously designed for 3D, so when audiences experience this revolutionary film in an IMAX 3D theatre, they will feel as if they are actually IN the movie.

Avatar is the story of an ex-Marine who finds himself thrust into hostilities on an alien planet filled with exotic life forms. As an Avatar, a human mind in an alien body, he finds himself torn between two worlds, in a desperate fight for his own survival and that of the indigenous people. More than ten years in the making, Avatar marks Cameron's return to feature directing since helming 1997's Titanic, the highest grossing film of all time and winner of eleven Oscars including Best Picture. WETA Digital, renowned for its work in The Lord of the Rings Trilogy and King Kong, will incorporate new intuitive CGI technologies to transform the environments and characters into photorealistic 3D imagery that will transport the audience into the alien world rich with imaginative vistas, creatures and characters.

WESTPORT INNOVATIONS INCORPORATED (NASDAQ: WPRT | Quote | Chart | News | PowerRating) "Up 9.90% in morning trading"

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

Westport Innovations, Inc. engages in the research, development, and marketing of engines and fuel systems that use compressed natural gas, liquefied natural gas (LNG), hydrogen, and hydrogen-enriched compressed natural gas (CNG) fuels. The company offers high pressure direct injection natural gas engines for heavy-duty trucks and high horsepower applications, such as mine-haul trucks and power generators; compressed natural gas direct injection engines for light- to medium-duty trucks and city work vehicle engines; hydrogen direct injection hardware and electronic controls; hydrogen-enriched compressed natural gas engines; and lean burn sparked ignited natural gas or liquefied petroleum gas engines for transit buses and medium-duty trucks. It also provides direct-injection gaseous-fuel injectors; combustion technology; cryogenic storage and delivery tanks and pumps; compressors; after treatment systems; and LNG and CNG refueling infrastructure. Westport Innovations primarily sells its products in North America, Asia, Europe, and South America. The company, through its joint venture with Cummins, Inc., also manufactures and sells a range of natural gas and propane engines in North America and Australia. It also has a joint venture with Beijing Tianhai Industry Co., Ltd. to market LNG fuel tanks for vehicles in China. In addition, Westport Innovations has a joint venture agreement with Weichai Power Co., Ltd. and Hong Kong Peterson (CNG) Equipment Limited to research, develop, design, manufacture, market, distribute, and sell alternative fuel engines for use in automobiles, heavy duty trucks, power generation, and shipping applications. The company was founded in 1995 and is headquartered in Vancouver, Canada.

WPRT News:

November 6 - Westport Reports Record Second Quarter Financial Results; 84% Increase in Year-Over-Year Revenue

Westport Innovations Inc. (Nasdaq: WPRT | Quote | Chart | News | PowerRating) (Toronto: WPT), a global leader in alternative fuel, low-emissions transportation technologies, reported financial results for the second quarter of fiscal 2009 ended September 30, 2008, and provided an update on operations.

"A record quarter for revenue, significant cash position, a proven, capital-efficient business model and partnerships and joint ventures established with some of the world's largest engine producers has Westport poised for further growth," said David Demers, Westport's CEO.

"Despite tough economic conditions, our international sales channels focused in vertical markets in government and municipal fleets are better positioned to weather the storm. Targeting niche markets, both domestically and internationally, where significant growth opportunities remain has successfully provided an economic diversity in our sales campaign. The recent sale to the Delhi Transport Corporation (DTC), our largest single order to date, is a prime example of our international reach where markets are still developing. We will continue to invest in our growth and product development as energy security and the direction to reduce dependency on foreign oil continues to drive interest for high performance engines running on clean domestically available natural gas."

Second Quarter Financial and Business Highlights

* Reported consolidated revenues of $39.0 million for the quarter ended September 30th compared to $21.2 million for the same period last year, an increase of 84%.

* Reported consolidated revenues of $64.5 million and $36.9 million for the six months ended September 30, 2008 and 2007 respectively, an increase of 75%.

* Reported net income of $0.7 million ($0.02 earnings per share) for the period ending September 30, 2008 compared to a net loss of $4.9 million ($0.19 loss per share) for the same period last year. During the quarter, Westport recognized $9.8 million in investment gains, net of taxes, on the sale of Clean Energy Fuels Corp. ("Clean Energy") shares.

* Reported a net loss of $2.8 million ($0.10 per share) compared to $9.6 million ($0.41 per share) for the six months ended September 30, 2008 and 2007, respectively.

* Reported a cash and short term investments balance as at September 30, 2008 of $96.8 million compared to $22.8 million as at March 31, 2008.

* Commenced trading on Nasdaq Global Stock Market in addition to successfully completing a US$54 million financing.

* Received an order from CleanAir Logix for liquefied natural gas (LNG) engines and fuel systems for heavy duty Trucks to be deployed at Port of Oakland

* Cummins Westport received order in Lima, Peru for over 200 natural gas bus engines; a new market.

* Received a Leadership Award at the 2008 Deloitte Technology Fast 50 Awards.

* Delivered 69 HD Trucks and reported a 184% increase in heavy duty business revenue in comparison to the same quarter last year.

Second Quarter Fiscal Year 2009 Financial Results in Detail

Westport's consolidated revenue for the three months ended September 30, 2008 was $39.0 million compared to $21.2 million for the three months ended September 30, 2007. The increase in revenue is due primarily to a significant increase in sales of CWI products combined with a $3.5 million increase in revenue for Heavy Duty fuel systems. For the six months ended September 30, 2008 and 2007 respectively, consolidated revenue was $64.5 million and $36.9 million, respectively, an increase of 75%. CWI accounted for $24.8 million of the $27.6 million increase with unit shipments of 2,468 fiscal year to date, up from 1,367 fiscal year to date September 30, 2007. Non-CWI revenues accounted for $2.8 million of the increase with 70 LNG systems shipped year to date compared to 33 LNG systems shipped same period last year.

Westport reported a net income of $0.7 million for the three months ended September 30, 2008 ($0.02 earnings per share), compared to a net loss of $4.9 million ($0.19 loss per share) in the same period in fiscal 2008. The improvement from net loss to net income is primarily due to the sale of short term investments in Clean Energy shares. During the quarter, Westport recognized $9.8 million in investment gains, net of taxes, on the sale of 790,800 shares for net proceeds of $14.2 million. Net loss without the benefit of the sale of Clean Energy shares is approximately $9.1 million.

For the six months ended September 30, 2008 and 2007, net loss was $2.8 million, or $0.10 per share, and $9.6 million, or $0.41 per share, respectively, with Westport's 50% share of CWI income after taxes for those periods $3.0 million and $1.8 million, respectively. Year to date, Westport has recognized $12.7 million in gains, net of tax, primarily from the sale of Clean Energy shares compared to $0.7 million in the prior year.

Westport's 50% share of CWI, on an after tax basis, was $1.4 million in Q209, up from $1.2 million in Q208. CWI gross margin percentages decreased from 31% to 25% primarily because of additional warranty reserves taken against the L Gas and C Gas plus and higher warranty accruals associated with the ISL G. Having recognized the future benefit of its remaining tax losses, CWI is also now recognizing tax expense. Non-CWI operating expenses (research and development, general and administrative and sales and marketing) were up $3.8 million Q209 versus Q208. The increase relates primarily to higher expenses associated with launching Westport's LNG systems for the heavy duty market such as Kenworth integration costs, assembly centre related operating costs, and sales and marketing expenses. In addition, during the quarter, Westport listed on Nasdaq, incurring additional listing fees, board expenses, insurance, legal, accounting and other costs. The Company's 49% share of the loss from Juniper Engines Inc. ("Juniper") was $0.5 million and $0.6 million for the three and six months ended September 30, 2008.

Westport's cash and cash equivalents balance as at September 30, 2008 was $96.8 million compared to $22.8 million as at March 31, 2008. In the six months ended September 30, 2008, Westport raised approximately $52.4 million in net proceeds from its Nasdaq initial public offering, $14.0 million in net proceeds from the issuance of debenture units, and $19.4 million from the sale of shares in Clean Energy. Cash from operations for the three months ended September 30, 2008 was $6.1 million compared to cash used of $1.5 million in the comparable period of the prior year. Westport spent $1.7 million on capital expenditures associated primarily with the establishment of the Westport Assembly Centre and expansion of office facilities during the quarter, and approximately $4.0 million on a year to date basis.

On July 21, 2008, Westport effected a 3.5:1 share consolidation of its issued and outstanding shares. As a result of the share consolidation and subsequent financing transaction in concert with the listing on Nasdaq, Westport had 32,024,930 Common Shares issued and outstanding as at September 30, 2008.

Cummins Westport Inc. (CWI) Business Unit Highlights

A) CWI revenue increased by $14.3 million to $33.3 million on 1,391 units shipped in Q209 from $19.0 million on 845 units shipped in Q208. CWI's gross margins increased to $8.4 million from $5.8 million on higher revenues.

B) In September, CWI received an order for over 200 CWI natural gas engines to equip new buses for transit providers in the capital city of Lima, Peru, a new market opportunity for CWI, with a growing market for natural gas vehicles and substantial indigenous supply of natural gas.

C) After the close of the quarter, CWI and Cummins India Limited announced an order for 3,125 natural gas engines, the largest order in CWI history, for Delhi Transport Corporation. The order is expected to be filled over the next 18 months.

Westport Global Heavy Duty Business Unit Highlights

Revenue for the heavy duty business has increased significantly to $5.4 million on 69 LNG systems shipped, which compares to $1.9 million in the prior year with 22 LNG systems shipped. Kenworth factory production for LNG trucks is on schedule for early 2009 along with the recent announcement of Peterbilt trucks launching 3 new LNG heavy duty truck models in mid-2009.

The San Pedro Bay Ports, including Los Angeles and Long Beach, initiated their clean trucks program on October 1st by banning pre-1989 trucks from port entry. With the concession program in place and financial incentives in place, Westport expects to see an increase in demand from port drayage fleets. Southern Counties Express, one of Westport's early adopters of LNG trucks and port customer, has now received all fifty trucks ordered earlier this year. In August, Westport received an order from Clean Air Logix for deployment at the Port of Oakland.

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