Stockguru.com: Stocks to Watch for December 1, 2008 - CSOL, PRVH, GLOW, EOPI, PAWEF, and MOSH

Dec 01, 2008 (M2 PRESSWIRE via COMTEX) -- PRVH | Quote | Chart | News | PowerRating -- Our Stocks to Watch today include : China Solar & Clean Energy, Inc. (OTCBB: CSOL), Providential Holdings Inc. (OTCBB: PRVH), Glowpoint, Inc. (OTCBB: GLOW), ECO2 Plastics, Inc. (OTCBB: EOPI), Pacific North West Capital Corp. (OTCBB: PAWEF), and Mesa Offshore Trust (OTCBB: MOSH)

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China Solar & Clean Energy, Inc. (OTCBB: CSOL | Quote | Chart | News | PowerRating) Shares traded up 5.26% at $1.00

China Solar & Clean Energy Solutions, Inc. operates through its subsidiaries Bazhou Deli Solar Energy Heating Co. Ltd. ("Deli Solar (Bazhou)"), Beijing Deli Solar Technology Development Co., Ltd., Tianjin Huaneng Group, and Shenzhen Peng Sang Pu Co., Ltd., all located in the PRC. The Company manufactures and distributes various forms of alternative energy systems including solar thermal systems for hot water and space heating, industrial heat recovery systems, and solar-powered lighting devices.

CSOL News Wednesday, China Solar & Clean Energy announced that Mr. Deli Du, Chief Executive Officer of China Solar & Clean Energy Solutions will deliver a presentation at the 2008 National Annual Conference of Solar Thermal Utilization, which is among the largest renewable energy conferences in China. This event, which is expected to draw the top 300 companies in China's renewable energy industry, is scheduled to take place at the Hubei Hotel in Wuhan China on November 29-30th. The theme of this conference is about the development of China's solar thermal industry and accelerating solar thermal upgrades in homes and business in China. Speeches will be given by state department heads, foreign solar thermal experts and company executives. There will also be special topic forums during the two day conference. The conference will conclude with an award ceremony for distinguished enterprises and executives. Mr. Deli Du, Chief Executive Officer of China Solar & Clean Energy Solutions, commented, "I am pleased to be delivering a speech at this prestigious event attended by key government and corporate executives involved in the solar thermal industry. I intend to showcase the strength of CSOL's product applications at this event and look forward to addressing how CSOL is uniquely positioned to expand its position in China's renewable energy industry in the years ahead."

Providential Holdings Inc. (OTCBB: PRVH | Quote | Chart | News | PowerRating) Shares traded down 56.60% at $0.0125

Providential Holdings, Inc., through its subsidiaries, provides financial consultancy and merger and acquisition (M&A) advisory services. It acquires and consolidates opportunities in selective industries, acts as an incubator for emerging companies and technologies, and provides financial consultancy and M&A advisory services to the U.S. and foreign companies. It also specializes in human capital development, executive education, and training solutions for Vietnamese companies. The company was founded in 1992 and is based in Huntington Beach, California.

PRVH News Wednesday, Providential Holdings announced that it had signed an agreement to assist Ceres Interventional, Inc., a Texas company, to go public in the United States through a business combination. In exchange for its consulting services, Providential will receive an equity stake in the new public company. Ceres Interventional, Inc., originally founded in 2001, focuses on products and medical devices for interventional procedures in the areas of Cardiology (Cath Lab) and Interventional Radiology Special Procedures. The Company is recognized by physicians and hospitals throughout North America as a leading supplier of quality "specialty" devices. Competing in only the specialized devices area, its products which include Endomyocardial Biopsy forceps, Micro Puncture Access Kits, Specialty Guidewires, and .035 PTA balloon dilatation (angioplasty) catheters OTW, are used in approximately 60% of hospitals in the U.S. that have a dedicated heart failure program (pediatric and adult). Ceres' senior management has in excess of seventy years of experience in medical devices. Since the founding of the company, year over year revenue increases have been significant and continue on a strong upward trend. Providential will also assist Ceres Interventional to gain access to institutional funding for continued organic growth and imminent strategic acquisitions. Michael Warner, President and CEO of Ceres Interventional, Inc., stated: "We are delighted to have reached this agreement with Providential Holdings, Inc. This cooperation will assist in Ceres' continued growth, and will help support our pivotal expansion toward selected healthcare areas."

Glowpoint, Inc. (OTCBB: GLOW | Quote | Chart | News | PowerRating) Shares traded up 22.22% at $0.33

Glowpoint, Inc. provides broadcast-quality Internet protocol (IP)-based managed video services. It offers video application services, managed network services, IP and ISDN videoconferencing services, multi-point conferencing, technology hosting and management, and professional services for large enterprises, and governmental entities to small and medium-sized businesses. The company offers video communication solutions for broadcast/media content acquisition and video call center applications. It also provides video network operations center support services, such as room certification, single point of contact, scheduling, conference production and monitoring, help desk support, training, interoperability testing and support, stewardship reporting and service reviews, and advanced network monitoring services. The company was founded in 1991 and is headquartered in Hillside, New Jersey.

GLOW News Wednesday, Glowpoint announced that it has completed a transaction that substantially restructures the Company's current debt and raises additional equity capital. The Company's debt was due to mature in March of 2009. The Company indicated on recent investor conference calls that it was seeking to restructure the debt and hoped to have some of the debt converted to equity. Additionally, the Company was seeking additional capital to support its growth. The transaction announced today accomplishes these key objectives and will allow the Company to focus on achieving positive operating income. "In the current economic climate, we are pleased to successfully complete this transaction," said Michael Brandofino, Glowpoint's Chief Executive Officer. "The fact that our debt holders converted a significant portion of their outstanding debt to equity and added to their investment with additional capital at a purchase price significantly above our current market price represents a strong vote of confidence in Glowpoint. With the remaining debt maturity extended almost two years, we are free to focus on growth and achieving positive operating income. The management team feels confident that this goal can be achieved and, as part of this transaction, agreed to forego any cash, option or stock bonuses until we have achieved two consecutive quarters of positive operating income."

ECO2 Plastics, Inc. (OTCBB: EOPI | Quote | Chart | News | PowerRating) Shares traded down 25.93% at $0.02

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 Wednesday, ECO2 Plastics announced that it has entered into a long-term supply agreement with Peninsula Packaging, LLC. Under the terms of the agreement, Peninsula Packaging agrees to purchase a minimum of 1.5 million pounds per month of recycled PET flake produced by ECO2 for a period of three years. Material supplied by ECO2 will meet certain quality specifications and will be priced using a mutually agreed upon pricing mechanism.

Pacific North West Capital Corp. (OTCBB: PAWEF | Quote | Chart | News | PowerRating) Shares traded down 5% at $0.038

Pacific North West Capital Corp. is a mineral exploration company focused on Platinum Group Metals (PGMs) and Base Metals. Management's corporate philosophy is to be a Project Generator, Explorer and Project Operator with the objective of option/joint venturing projects with major mining companies through to production. To that end, Pacific North West Capital's current option/joint ventures agreements are with Anglo Platinum, Xstrata Nickel, Benton Resources, First Nickel and SOQUEM.

PAWEF News Wednesday, Pacific North West Capital and SOQUEM INC. announced the completion of drilling at the Cheneville property, located approximately 120 kilometers northwest of Montreal, QC. The property was staked as part of the Taureau reconnaissance program, which is a 50:50 joint venture between PFN and SOQUEM designed to evaluate the Nickel-Copper-Platinum Group Metal potential of mafic intrusions in the Grenville Geological Province of southern Quebec. SOQUEM INC. acts as operator of the Taureau project. The Cheneville property is, in part, underlain by a series of mafic intrusions that locally host zones of sulphide mineralization. One such zone in the Cheneville intrusion returned average grades of 1.17grams per tonne (g/t) Pd, 0.14g/t Pt, 0.29g/t Au, 1.62% Cu, and 0.35% Ni from two grab samples. The recently completed drilling program at Cheneville was designed to test the down dip continuity of this mineralization. The drilling commenced on November 14, 2008 and was completed on November 18, 2008. A total of 471 meters of drilling was completed in three holes. Assays are pending, and results will be reported when available.

Mesa Offshore Trust (OTCBB: MOSH | Quote | Chart | News | PowerRating) Shares traded down 16.67% at $0.25

Mesa Offshore Trust operates as a trust company in the United States. Its principal asset consists of a 99.99% interest in the Mesa Offshore Royalty Partnership, which holds a net overriding royalty interest in 10 producing and non-producing oil and gas properties located in federal waters offshore Louisiana and Texas. The trust is entitled to its share of 90% of the net proceeds, realized from the sale of the hydrocarbons produced from the properties. Mesa Offshore Trust was founded in 1982 and is based in Austin, Texas.

MOSH News Wednesday, Mesa Offshore Trust announced that there will be no Trust income distribution for the month of November 2008 for Unitholders of record on November 30, 2008. The Trust did not receive any Royalty income from the Working Interest Owner for the month of November 2008. As of November 20, 2008, the Working Interest Owner estimates that the abandonment accrual for amounts expended and for projected future abandonment expenses for the properties in which the Trust has an interest is approximately $134,000 net to the Trust. These costs will be deducted from any future gross proceeds on the Royalty properties, which deductions will reduce future Royalty income. No Royalty income will be distributed to Unitholders until JPMorgan Chase Bank, N.A., in its capacity as Trustee, recoups Trust expenses being paid from the reserve that the Trustee has established for anticipated future expenses. As of November 21, 2008, approximately $3.9 million will be withheld by the Trustee from future Royalty income before Trust distributions to the Unitholders will resume. Trust expenditures for the month of November 2008 will be approximately $206,000. On December 3, 2007, the Trust entered into an Amended and Restated Promissory Note with JPMorgan Chase Bank, N.A. as lender, which amended the Demand Promissory Note dated September 28, 2007, relating to demand loans that may be advanced by the Lender from time to time in the principal amount of up to $3 million. On August 25, 2008, the Trustee executed an amended and restated Demand Note that among other things increased the aggregate principal amount available for borrowing to $4 million. The demand loans bear interest at the prime rate plus 2%, provided such rate shall in no event exceed the maximum legal rate of interest permitted by applicable law. As of November 25, 2008, approximately $3,641,000 had been advanced to the Trustee for Trust expenses under this Demand Note and the Trust had unpaid expenses of approximately $257,000.

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