Stockguru.com: Stocks to Watch for November 26, 2008 - DPDW, SPNG, EOPI, MYST, CVBT, and KITD

Nov 26, 2008 (M2 PRESSWIRE via COMTEX) -- SPNG | Quote | Chart | News | PowerRating -- Our Stocks to Watch today include : Deep Down, Inc. (OTCBB: DPDW), Spongetech Delivery Systems Inc (OTCBB: SPNG), ECO2 Plastics, Inc. (OTCBB: EOPI), MyStarU.com, Inc. (OTCBB: MYST), CardioVascular BioTherapeutics, Inc. (OTCBB: CVBT), and KIT digital, Inc. (OTCBB: KITD)

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Deep Down, Inc. (OTCBB: DPDW | Quote | Chart | News | PowerRating) Shares traded up 35.71% at $0.38

Deep Down, Inc. provides products and services to the offshore energy industry to support deepwater exploration, development, and production of oil and gas, and other maritime operations worldwide. The company provides various project engineering and management services, including the design, installation, and retrieval of subsea equipment and systems; connection and termination operations; and commissioning. It also offers installation, retrieval, storage, and management services. In addition, the company provides installation support equipment, and component parts and assemblies for subsea distribution systems. It designs, manufactures, fabricates, inspects, assembles, tests, and markets subsea equipment, surface equipment, and offshore rig equipment that are used by oil and gas companies in offshore areas. The company?s products include flying leads, bend stiffener latchers, umbilical hardware, bend limiters, umbilical splice, SeaStax, and installation aids. It also serves offshore petroleum and marine industries with technical support services, and products to offshore petroleum production, through rentals of its remotely operated vehicles, topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys. Additionally, the company offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. It designs, manufactures, installs, and commissions integrated programmable logic controller, and supervisory control and data acquisition based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems. The company was founded in 1997 and is headquartered in Channelview, Texas.

DPDW News Tuesday, Deep Down announced that it has received an executed $11.1 million contract from Delba Drilling International Cooperatie U.A. to supply and install the deepwater marine drilling riser flotation system for the new-build Delba III semisubmersible drilling rig. The original letter of intent, initially estimated at $9 million, was received May 23, 2008. The increase in the value of the contract is reflective of engineering changes to satisfy additional lift requirements. The Delba III semisubmersible drilling rig is rated to drill in 2,400 meters of water and is readily upgradeable to 2,700 meters. The Delba III has long-term contracts to drill in Brazilian waters. The rig set of flotation for the Delba III is scheduled to be delivered by early 2010. The manufacturing requirements under the Delba III contract will be managed by Flotation Technologies, a Deep Down subsidiary. The installation of the drilling riser flotation system will be managed by Deep Down (Delaware), also a Deep Down subsidiary.

Spongetech Delivery Systems Inc (OTCBB: SPNG | Quote | Chart | News | PowerRating) Shares traded down 6.45% at $0.029

Spongetech Delivery Systems, Inc. designs, produces, markets, and distributes hydrophilic polyurethane sponge cleaning and waxing products primarily for vehicular use in the United States. It utilizes patented technology relating to sponges containing hydrophilic, which are liquid absorbing, foam polyurethane matrices. The company?s product portfolio comprises specially configured sponges containing an outer contact layer and an inner matrix; children?s bath foam sponge with a safe mesh coating, which prevents tearing; and household cleaning sponges infused with anti-bacterial bath and kitchen soaps. Spongetech Delivery Systems, Inc. was founded in 1999 and is based in New York, New York.

SPNG News Tuesday, SpongeTech Delivery Systems announced it will begin to take orders for its new "Puddle Pals(TM) Children Sponge." SpongeTech 's innovative Children Bath Sponge utilizes the same patented technology as their other SpongeTech products. Puddle Pals(TM) are three (3) fun animal shaped Children Sponges embedded with a gentle soap that can be used up to 8 times per sponge or 24 baths per package, depending on the size of the child. Children 3 years and up can use this wonderful and fun Bath Sponge. SpongeTech 's COO Steven Moskowitz said, "We are excited about launching our fourth product, the Puddle Pals(TM) Children Sponge, adding it to the auto wash and wax system, Uncle Norman's(TM) Pet Sponge, and the Gold Bar Tub & Tile Cleaner(TM). We welcome people and their kids to be among the first to experience and enjoy our product. Puddle Pals(TM) are also a great holiday gift item! We look forward to expanding this product division of SpongeTech with additional Children Sponges coming out next February."

ECO2 Plastics, Inc. (OTCBB: EOPI | Quote | Chart | News | PowerRating) Shares traded up 13.64% at $0.025

ECO2 Plastics, Inc. engages in the polyethylene terephthalate plastic recycling operations in the United States. The company developed a patent pending process and system, known as the ECO2 Environmental System, which cleans post-consumer plastics without the use of water. It owns a plastic recycling facility in Riverbank, California. The company was founded in 2000. It was formerly known as Itec Environmental Group, Inc. and changed its name to ECO2 Plastics, Inc. in 2007. The company is based in San Francisco, California.

EOPI News Tuesday, ECO2 Plastics announced that it has received a favorable opinion letter from the US Food and Drug Administration (FDA), which affirms the effectiveness of its proprietary waterless cleaning process for recycling post consumer plastic, allowing the Company's recycled plastic flake to be used in food packaging applications. "We are pleased with the conclusions of the FDA review and look forward to expanding the market for our recycled PET flake into food contact applications," said Rod Rougelot, CEO of ECO2 Plastics. Rougelot added, "Having achieved the highest level of approval in nine FDA Condition of Use categories clearly demonstrates the effectiveness of our proprietary process, while answering the question that inspired the foundation of our business; 'What if washing didn't entail the use of water?'"

MyStarU.com, Inc. (OTCBB: MYST | Quote | Chart | News | PowerRating) Shares traded up 17.65% at $0.06

MyStarU.com, Inc. (MYST) is a Total Solutions Provider that offers Integrated Communications Network Solutions and Internet Content Service in universal voice, video, data web and mobile communications for interactive media applications, technology and content leaders in interactive multimedia communications. It develops, markets and sells a universal media software solution for enterprise-wide deployment of integrated voice, video, data web and mobile communications and media applications. MyStarU.com, Inc. does business in Asia via its wholly-owned subsidiaries, MyStarU Ltd.

MYST News Tuesday, MyStarU.com announced its subsidiary, Panyu M&M Import Export Co. Ltd. (Panyu), has meetings with 12 environmental protection companies in Guangdong and Hainan for plans to import a large amount of environmental protection technology and equipment to China in 2009. "Panyu's importing business will see big growth in coming years, according to China's 4 trillion Yuan ($586 billion) economic stimulus plan. Panyu is taking full advantage of China's domestic market, and will increase revenue by $100 million in the next 2 years," said Y.F. Su, MYST's vice president.

CardioVascular BioTherapeutics, Inc. (OTCBB: CVBT | Quote | Chart | News | PowerRating) Shares traded down 4.17% at $0.23

CardioVascular BioTherapeutics, Inc., a development stage biopharmaceutical company, focuses on developing and marketing protein drug candidates used in the treatment of cardiovascular disease. The company uses an active pharmaceutical ingredient, the 141 acidic human form of fibroblast growth factor-1, in its drug candidates, which facilitates the growth of new blood vessels in the heart tissues and organs with an impaired vascular system. Its products under development include CVBT-141A, a Phase I clinical trial completed product for use in the treatment of severe coronary heart disease; and CVBT-141B, a Phase I clinical trial completed product for the treatment of wound healing; CVBT-141C, a Phase I clinical trial product for the treatment of peripheral artery disease; and CVBT-141H, a Phase I clinical trial product for the treatment of severe coronary heart disease. The company?s pre-clinical research and development stage products comprise CVBT-141E for the treatment of lumbar ischemia, and CVBT-141F for bone repair. In addition, CardioVascular BioTherapeutics? product portfolio includes CVBT-141D, which is under proof of concept clinical trials stage for the treatment of disc ischemia. The company was founded in 1998. It was formerly known as CardioVascular Genetic Engineering, Inc. and changed its name to CardioVascular BioTherapeutics, Inc. in 2004. The company is headquartered in Las Vegas, Nevada.

CVBT News Tuesday, CardioVascular BioTherapeutics announced that it has dosed the first patient in North America (NA) as part of its ACORD Phase II clinical trial to treat patients with severe coronary heart disease. The ACORD (Angiogenesis for the treatment of CORonary heart Disease) trial will include four randomized, double-blind, placebo-controlled doses in approximately 120 patients with severe coronary heart disease. Thirty sites are expected to participate.

KIT digital, Inc. (OTCBB: KITD | Quote | Chart | News | PowerRating) Shares traded down 20.93% at $0.17

KIT digital, Inc., through its subsidiaries, engages in providing Internet software products and solutions that enable customers to distribute video content through the Web sites and mobile devices. Its core activities include video player deployment, ingestion and transcoding, localization, content syndication, digital rights management, hosting, storage, and content delivery. The company, through its Internet protocol television (IPTV) enablement, provides integrated marketing solutions, including strategic planning, creative services, media planning and buying, design services, brand and retail advertising, and data management and analytics. KIT digital offers a customized online video platform that enables clients to publish, manage, and distribute content; build communities; and integrate advertising. It also provides a range of traditional advertising services, including media buying and planning, creative development, and packaging. The company, formerly known as ROO Group, Inc., was founded in 1998 and is headquartered in New York, New York with additional offices in Dubai, the United Arab Emirates; Melbourne, Australia; Bogota, Columbia; and London, the United Kingdom.

KITD News Tuesday, KIT digital announced it has entered into a distribution agreement with WebAlive Pty Ltd, owner of "WebCommunity," the first 'plug-and-play' social networking platform for businesses . Gavin Campion, president of KIT digital, commented: "The WebCommunity alliance furthers KIT digital's mission to provide its corporate clients with value-added, video-enabled marketing tools capable of generating profitable customer relationships." "We see two key drivers of online growth -- the increased demand for video and the surge in online social networks," continued Mr. Campion. "This combined offering takes advantage of both vectors. We believe that video is the most effective communication channel to facilitate and further develop interactive communities, and through the WebCommunity agreement, we create new opportunities for our clients to monetize their online presence through advertising, sponsorship and subscriptions."

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