StandoutStocks.com: "Stocks that Standout" picks for today are: CADM, HOMS, KITD, PRPM, PRVH, PTEO

Nov 17, 2008 (M2 PRESSWIRE via COMTEX) -- PRVH | Quote | Chart | News | PowerRating -- StandoutStocks.com "Stocks that Standout" picks for today are: Cardima, Inc. (OTCBB: CADM), Homeland Security Capital Corporation (OTCBB: HOMS), KIT digital, Inc. (OTCBB: KITD), Propalms Inc (OTCBB: PRPM), Providential Holdings, Inc. (OTCBB: PRVH), Proteo Inc. (OTCBB: PTEO/WKN: 925981)...and Proudly Introducing Proprietary Push Technology (PPT).

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Nov 17, 2008 -- Cardima, Inc. (OTCBB: CADM), a medical device company focused on the treatment of Atrial Fibrillation ("AF") and manufacturer of the Cardima Surgical Ablation System, the EP Ablation System, and the PATHFINDER(R) family of diagnostic microcatheters, announces today that on November 11, 2008, the Company executed a Loan Term Sheet and Loan Commitment letter (the "Financing Documents") with an accredited investor and shareholder of the Company pursuant to which the Company will issue a secured promissory note (the "Note") in the principal amount of $6 million. The Note will bear interest at a rate of 10% per year and matures on November 10, 2009. The Note will have and be a general charge on all of the assets of the Company. The Company intends to use the proceeds for general corporate purposes, including working capital and equipment purchases.

Tony Shum, Chairman of Cardima, said, "The past year has brought tremendous positive changes to the Company and this transaction marks another significant step towards building the New Cardima. We thank our shareholders for their continued support, which allows us to continue the systematic commercialization of our great range of products. This loan facility provides important resources as we begin to rapidly expand the number and scope of our distributor relationships around the world and plan for exciting and dynamic growth in 2009."

About Cardima

Cardima, Inc. has developed the PATHFINDER(R), TRACER(TM) and REVELATION(R) Series of diagnostic catheters, the VUEPORT(R) and NAVIPORT(R) Series of guiding catheters, the INTELLITEMP(R) Energy Management Device, and the Surgical Ablation System (SAS). All of these devices are CE marked and received U.S. FDA 510(k) clearance. The REVELATION(R) Series of ablation catheters with the INTELLITEMP(R) EP Energy Management Device was developed and marketed for the treatment of atrial fibrillation (AF) after receiving CE mark approval in Europe; it is not currently available in the U.S.

PATHFINDER(R), TRACER(TM), VUEPORT(R), NAVIPORT(R), REVELATION(R) and INTELLITEMP(R) are registered trademarks of Cardima, Inc.

Nov 17, 2008 --Investor Conference Call Scheduled for Tuesday, November 18, 2008, at 9:00 am EST. Homeland Security Capital Corporation ("HSCC") (OTCBB: HOMS), an international provider of specialized technology-based radiological, nuclear, environmental, disaster relief, and security solutions to government and commercial customers, today filed its quarterly report on Form 10-Q for the first quarter ended September 30, 2008.

Revenue for the first quarter was $17.7 million, as compared with $2.6 million for the same period in 2007. EBITDAS from continuing operations (earnings before interest, taxes, depreciation, amortization, and stock based compensation expense) was $150,000, as compared to a loss of $330,000 for the same quarter of 2007. Overall HSCC had a $2.3 million loss, or $0.05 per share, attributable to common shareholders for the quarter as compared to a $3.8 million gain, or $0.09 share, for the same period in 2007. In the quarter ended September 30, 2008, HSCC recorded one-time charges of $450,000 with respect to a beneficial conversion feature on its preferred stock and miscellaneous acquisition costs. In the quarter ended September 30, 2007, HSCC recorded a gain of $3.6 million with respect to the sale of a subsidiary.

The Company consolidates the results of subsidiaries Safety & Ecology Holdings Corporation, Nexus Technologies Group, Inc., Polimatrix, Inc., and Homeland Security Capital Corporation, the holding company. At September 30, 2008, and 2007 there were 48.8 million and 41.8 million shares of common stock outstanding, respectively.

"We booked in excess of $53 million of new business contracts in the quarter and I am pleased with our overall revenue results and the progress made in securing new business," said HSCC Chairman and CEO C. Thomas McMillen. "In addition to further executing on the growth strategy we set forth, we look to continue placing a strong focus on improving our margins and streamlining our administrative costs as we progress into the year."

HSCC President and Safety & Ecology Corporation CEO Christopher Leichtweis commented, "Much of the new business booked this past quarter is at higher margins, even in light of the softening economy. We will need to ensure we effectively manage these projects and maximize those higher margins."

Financial Measures

In addition to the results presented in accordance with generally accepted accounting principles in this press release, the Company reported a positive EBITDAS (EBITDA before stock based compensation expense of $150,000 for the period). EBITDAS, a non-GAAP measure, is determined by taking the net loss and adding back amortization of intangible assets, debt offering costs and debt discounts, depreciation and amortization of property and equipment, stock based compensation expense and interest expense (income), net. The Company believes that this non-GAAP measure, viewed in addition to and not in lieu of the Company's reported GAAP results, provides useful information to shareholders and investors because this metric provides a more focused measure of operating results. This metric is an integral part of the Company's internal reporting to measure operations of the Company. The non-GAAP measure presented herein may not be comparable to similarly titled measures presented by other companies.

Investor Quarterly Conference Call:

The Company will host an investor conference call on Tuesday, November 18, 2008, at 9:00 am EST. We ask that all participants pre-register by sending an e-mail to: HOMS@investorrelationsgroup.com or calling: The Investor Relations Group, (212) 825-3210.

Live Participant Dial In (Toll Free): 877-407-0782 Live Participant Dial In (International): 201-689-8567 Replay Number (Toll Free): 1-877-660-6853 Replay Number (International): 1-201-612-7415 Replay Passcodes (both required for playback): Account #: 286 Conference ID #: 303901

About Homeland Security Capital Corporation

HSCC is an international provider of specialized technology-based radiological, nuclear, environmental, disaster relief, and security solutions to government and commercial customers through its portfolio companies. Former Maryland Congressman C. Thomas McMillen, who served three consecutive terms in the U.S. House of Representatives from the 4th Congressional District of Maryland, heads the company.

Nov 17, 2008 -- KIT digital, Inc. (OTCBB: KITD), a global provider of IP-based video enablement technologies and video-centric interactive marketing solutions, reported financial results for the third quarter ended September 30, 2008.

Q3 2008 Financial Results

Financial results in this release are quoted in U.S. dollars, although a material portion of the company's revenue is earned in other currencies.

For the third quarter of 2008, revenue totaled $5.4 million, as compared to $5.5 million in the previous quarter and $3.4 million in the same quarter a year ago. The company's revenues include software license and maintenance fees, streaming and data fees, technical and creative service charges, software set-up fees, and advertising-related income.

During the third quarter, the U.S. dollar appreciated versus the other currencies in which the company generates revenues. On a like currency basis, KIT digital increased revenues during the quarter. The company employs a "natural hedging" strategy in which management endeavors to match revenue generated in a given currency against the associated client delivery costs denominated in the same currency. This strategy results in approximately neutral cash-flow impact from foreign exchange movements, despite changes in reported gross revenues.

The net loss for the quarter was $2.6 million or ($0.02) per basic and diluted share, compared to a loss of $3.3 million or ($0.04) per basic and diluted share in the previous quarter and a loss of $8.2 million or ($0.21) per basic and diluted share in the third quarter of 2007.

The net loss for the quarter reflects several non-cash items, including $188,000 in stock-based compensation, compared to $73,000 in the previous quarter and $1.2 million in the same year ago quarter. Additionally, the net loss included restructuring charges of $162,000 relating to employee termination and facility closing costs, as compared to $146,000 in the previous quarter and none in the third quarter of 2007.

For the third quarter, operating EBITDA, a non-GAAP term, was a loss of $1.57 million, as compared to a loss of $2.24 million in the previous quarter and a loss of $6.64 million in third quarter of 2007. Operating EBITDA is defined by the company as the loss before non-cash stock based compensation, restructuring and non-recurring costs, impairment of property and equipment and depreciation and amortization. Management reports the company is turning operating EBITDA positive during the course of the current fourth quarter, and is optimistic that the company will turn free cash-flow positive by the end of this year or in beginning of the first quarter of 2009.

The weighted average common shares outstanding for the quarter totaled 114,557,722, as compared to 82,800,972 in the previous quarter and 38,907,293 in the third quarter of 2007. The common shares outstanding at November 14, 2008 totaled 114,609,788.

At the end of the third quarter of 2008, the company had a cash position of $6.1 million. Management believes the company possesses more than sufficient cash to finance its organic growth plan through to profitability, as well as to make selective acquisitions.

On October 5, 2008, subsequent to the end of the third quarter of 2008, the company acquired 100% of the capital stock of IP-based video enablement company Visual Connection, a.s., the purchase of which included a $2.5 million upfront cash payment. On November 12, 2008, the company received $1.4 million in straight (non-convertible) debt financing from Genesis Merchant Partners, L.P., secured by accounts receivable, inventory and other assets. The proceeds of this debt facility may be used for general corporate purposes. As of November 14, 2008, KIT digital had a cash position of $5.2 million.

Even after accounting for an additional 20%+ strengthening of the U.S. dollar since September 30, 2008 versus the Czech koruna, the Australian dollar and other currencies in which KIT digital does business, consolidated fourth quarter 2008 revenues are estimated to be at least $8.5 million. In the absence of the strong U.S. dollar, management estimates that fourth quarter 2008 revenues would have been more than $10 million.

Management Commentary

"The third quarter represented substantial progress across the board," said Kaleil Isaza Tuzman, chairman and chief executive officer of KIT digital. "Despite the generally slow Summer period, a faltering economy, a strong U.S. dollar and the ongoing rationalization of acquired assets, we grew our underlying business on a local currency basis versus a banner second quarter, and ended the third quarter with a September monthly operating EBITDA loss of approximately $195,000 -- versus well over $2 million of monthly burn at the beginning of the year. We are crossing over to positive monthly operating EBITDA during the current fourth quarter, just as we committed to our shareholders at the beginning of this year."

Gavin Campion, president of KIT digital, commented: "At KIT digital, we take a financially disciplined and bottom-line approach. We generally leave the small and medium-size enterprise (SME) market to our competitors, while we go after higher-margin, enterprise clients, frequently in emerging markets. During the third quarter, we won a number of key new accounts and made great progress on the integration of our product lines and acquired businesses -- activities which take time to develop and will bear financial fruit in future quarters."

"We started 2008 at an annualized revenue run-rate of approximately $12 million," continued Campion. "Even after the appreciation of the dollar in recent months, we are currently operating at an annualized revenue level of approximately $35 million. Looking forward to 2009, we will continue to leverage our first-mover advantage as the only truly device-agnostic IP video solutions provider, able to deliver and manage video on the browser, the mobile device and the IPTV-enabled set-top box or game-box."

Q3 2008 Operational Highlights

-- Signed over 20 new enterprise clients across major geographies -- Asia/Pacific, Europe, the Middle East & Africa (EMEA), and the Americas;

-- Acquired Morpheum, one of Asia's leading providers of web-based content management systems -- which is already in the process of being integrated with the KIT digital's "VX" video management platform;

-- Created a critically acclaimed, custom-built Web environment for TV innovator Seth MacFarlane and his new collection of web shorts, titled 'Seth MacFarlane's Cavalcade of Cartoon Comedy';

-- Launched a North American IPTV set-top box deployment for TV2Moro, a new company created by leading players in Arab media production and distribution;

-- RCN, a leading broadcaster in Latin America, choose KIT digital to provide a broad range of streaming media initiatives;

-- An estimated 91% of KIT digital revenue in the third quarter of 2008 was generated in the Asia/Pacific and EMEA geographies, and approximately 9% from the Americas.

Conference Call

KIT digital will hold a conference call to discuss Q3 2008 results at 10:00 a.m. Eastern time on Tuesday, November 18, 2008. To participate in the call, please dial +1 (800) 288-8968 (North America) or +1 (612) 332 0725 (outside of North America). Note that the call-in numbers have changed since the company's last press release; the previously disseminated call-in numbers will be answered and forwarded to the numbers above.

Please dial into the call five minutes prior to the scheduled start time. If you have any difficulty connecting to the conference call, please contact the Liolios Group at +1 (949) 574-3860.

For interested individuals unable to join the live conference call, a replay of the call will be available an hour after the conclusion of the live call through December 2, 2008 by dialing into +1 (800) 475-6701 (North America) or +1 (320) 365-3844 (outside of North America). The access code for this replay is 970370. In addition, an online archive of the call will be available for 30 days afterwards through the Investor Relations section of the Company's website at www.kitd.com.

About KIT digital

KIT digital, Inc. is a leading, global provider of proprietary IP-based video enablement technologies and video-centric interactive marketing solutions. Through its end-to-end platform, KIT digital works closely with consumer brands, content providers and telcos to maximize the value of video content via the Internet, mobile networks and IPTV set-top boxes. The KIT VX platform allows clients to publish, manage and distribute digital video content, build online/mobile communities and integrate advertising. KIT offers businesses a full range of interactive marketing solutions and KIT clients can access approximately 100 KIT-syndicated channels and 40,000 KIT-syndicated videos. KIT digital clients include ABC Disney, Associated Press, China Mobile, General Motors, IMG, Kmart, NASDAQ, News Corp, RCS, Telefonica and Verizon. KIT digital has principal offices in Dubai, Melbourne (Australia), Prague, Stockholm, New York and London.

Nov 17, 2008 -- Propalms Inc (OTCBB: PRPM), a provider of application delivery solutions for Terminal Services and Virtual Desktop Infrastructures, announced on 17 November that is has signed an agreement with Getech, a UK-based distributor, to expand the Company's customer-base throughout Europe, broadening its global base in an effort to acquire a share of the thin-client server based computing market.

The company said that Getech has been a distributor of desktop services since 1990, and has become one of the largest thin client distributors in the UK and Europe. Getech also operates in various markets, including education, telecomms and manufacturing and has adopted sales, support and logistics teams in several locations throughout Europe. Getech now has a division specifically committed to the thin client and server computing environment, offering both hardware and software solutions.

Nov 17, 2008 -- Providential Holdings, Inc. (OTCBB: PRVH | Quote | Chart | News | PowerRating) (FRANKFURT: PR7) (WKN 935160), a company engaged in mergers and acquisitions, real estate development, mining and investing in special situations, today announced financial results for the first quarter of fiscal year 2009, ended September 30, 2008.

Total revenues were $1,988,220 and $28,500 for the three months ended September 30, 2008, and 2007, respectively. Total operating expenses were $435,927 for the three months ended September 30, 2008 and $336,814 for the same period in 2007.

Total other income was $112,930 for the three months ended September 30, 2008 compared to total other expense of $29,095 for the same period in 2007.

Net income for the three months ended September 30, 2008 was $1,665,223 as compared to a net loss of $337,409 for the same period in 2007, which is equivalent to $0.01 and ($0.00) per share, respectively.

Providential CEO Henry Fahman said, "In spite of the global financial crises that have adversely impacted some of our plans, our M&A and consulting services have generated increased revenues and profits for the company in the latest quarter. We expect to continue earning more revenues through these services and also generate significant value for our shareholders from our real estate development program, mining, and other initiatives in the balance of fiscal year 2009 and beyond."

About Providential Holdings

Providential Holdings and its subsidiaries engage in a number of business activities, the most important of which are M&A and consulting services, real estate development, mining, and investing in special situations. As part of its focus on Vietnam, the Company has successfully assisted several Vietnamese companies to go public in the U.S. and currently develops "Pointe 91", a luxury resort and upscale residential community in Chu Lai, central Vietnam.

Nov 17, 2008 -- Proteo Inc. (OTCBB: PTEO/WKN: 925981) and its wholly-owned subsidiary Proteo Biotech AG announced today the beginning of patient recruitment for a Phase II clinical trial. In this randomized, placebo-controlled Phase II trial the effect of Elafin on inflammatory parameters will be investigated in patients undergoing esophagectomy for esophagus carcinoma. The trial will be performed under the direction of Prof. Fred FAnndrich, Department of General and Thoracic Surgery, University of Kiel: "The removal of the esophagus for esophageal cancer is a very invasive surgical procedure that frequently requires long stays in intensive care units. No drugs are currently available which substantially alleviate the inflammatory reaction of the body to this surgical treatment. I am therefore particularly pleased that we have the opportunity to conduct the first clinical trial worldwide on the therapeutic efficacy of the drug candidate Elafin."

"As the second largest university hospital in Germany, the University Hospital of Schleswig-Holstein offers an ideal infrastructure for performing a trial of this type. We are confident that the results of the trial will provide confirmation of the mode of action (proof of concept) and so promote our multifaceted development program for Elafin," announced Birge Bargmann, CEO of Proteo.

Prof. Oliver Wiedow, who discovered Elafin and founded Proteo, draws a positive balance: "With the start of this trial we are also setting a new milestone for biotechnology in Kiel. The close cooperation of many committed colleagues at the University Hospital, the state's economic development fund and Proteo Biotech AG, has made it possible to promote in Schleswig-Holstein the development of a pharmaceutical, that was discovered in the Department of Dermatology at the University of Kiel, and to make this drug substance available for the first time to patients within the framework of a clinical trial."

About Elafin

The drug candidate Elafin is produced naturally in humans and inhibits enzymes responsible for the formation of circulating factors (cytokines) that promote inflammatory reactions. The release of these cytokines is increased after major surgery and is responsible for an inflammatory reaction that can affect all vital organs. In the planned trial it is expected that Elafin will impair the formation of these cytokines and thus have a positive effect on the inflammatory reaction.

The excellent tolerability of Elafin in human subjects was demonstrated in a Phase I clinical single dose escalating study. On recommendation of the European Medicines Agency (EMEA), Proteo Biotech AG received orphan drug status from the EU commission for its candidate drug Elafin for the treatment of pulmonary arterial hypertension (PAH) and chronic thromboembolic pulmonary hypertension.

About Proteo

The company researches, develops and markets compounds for biological and medical research as well as for use as pharmaceuticals. PROTEO holds the production and utilization rights for recombinant human Elafin. PROTEO intends to out-license selected indications and to establish international strategic alliances in order to open up new fields of application and for marketing.

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