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July 1, 2009: BioElectronics Corp. (Pinksheets:BIEL), the maker of inexpensive, disposable drug-free anti-inflammatory devices, today released the following statements from the management team and leading physicians regarding the recent FDA panel recommendation to lower the maximum daily dosage of acetaminophen and to restrict the sale of large acetaminophen dosages such as those contained in Extra Strength Tylenol.
"We are developing significant momentum around the world in the use of both ActiPatch Therapy and the Allay(TM) Menstrual Pain Relief Patch as a safe and effective alternative to acetaminophen," said Andrew Whelan, CEO BioElectronics Corp. "Pulsed ElectroMagnetic Field (PEMF) Therapy has been proven safe and effective in hundreds of peer-reviewed scientific studies and is a strong alternative therapy for many types of musculoskeletal complaints and surgical recovery. We welcome the FDA panel's findings that acetaminophen usage is potentially dangerous and should be restricted," Whelan said. "We look forward delivering our proven safe and effective drug-free pain relief and healing technology to the American market as our clinical studies move toward conclusion." Physicians experienced with the BioElectronics product line made the following comments.
July 1, 2009: Alternative Fuel Technologies Inc. (Pinksheets:AFTC) responded to an SBIR invitation (Topic number NO 92-122 - Navy) by submitting its proposal to develop an innovative advanced propulsion solution for future combatant craft with breakthrough technology for multi-fuel engines weighing three to five times less than conventional diesel engines of the same horsepower. The US NAVY, and its NAVY SEALS in particular, utilize assault craft and combatant patrol vessels that rely on speed, acceleration, and maneuverability to protect the lives of the troops and secure multi-mission success. The increasing demand to carry greater "payloads" (e.g. combat troops, weapons, and ballistic armor) inherently reduces the current craft's overall performance, including speed, agility, even survivability of the troops. The US NAVY is in need of an alternative to current diesel fuel propulsion systems; one that allows for increased payloads without sacrificing speed and acceleration. More specifically, an innovative solution that decreased "weight to power ratios" significantly, thereby enabling increases in mission system payload weight and personnel transport capability.
Alternative Fuel Technologies, Inc. (AFTC) has over 40 years of engine design experience, including diesel and alternative fuels, with its core business in the development and prototype manufacturing of advanced fuel systems that burn Dimethyl Ether or "DME." Alternative Fuel Technologies, Inc. (AFTC) submitted its proposal on June 15, ahead of schedule, and expects an answer in the next 60 to 90 days. The project includes three phases. Phase one could generate a total $100,000; Phase two could exceed $1,000,000, and Phase three which includes the completion of a full prototype engine installed in a marine craft, would likely approach $20,000,000. The US NAVY defines only the scope of the work rather than the contract dollar amount.
CEO Jim McCandless reported that, "All of us here in management at AFTC feel really solid about the proposal we submitted. Our proposal is not only extremely competitive, but we believe our technological ingenuity and ability to provide the next generation of fuel solutions can satisfy the Navy objectives of hauling greater weight without putting our troops lives at risk. Gaining this opportunity would be a win for the company of course, but a project we would be elated to be a part of."
July 1, 2009: Syndication Inc., (Pink Sheets: SYNJ), reports that on April 3rd, 2009 McCutcheon Marshall Jr., President and Chairman of the Board for Pinnacle Energy Inc., the wholly owned energy subsidiary of Syndication Inc., executed a Territory and Purchase Agreement with Methes Energies Canada Inc. Methes Energy is located in the Mississauga, province of Ontario, Canada and is in the business of developing, marketing and selling turnkey continuous flow biodiesel processor systems named 'the Denami 600.' The agreement calls for the purchase of multiple 'Denami 600' units and excludes Methes from soliciting any engagements in the Counties of Williamsburg and Berkeley in the State of South Carolina.
When asked about the Methes relationship Marshall stated, "It's just one of many developments that Sorrentino and I have been working on for months. It is true that we are sharing board members with Pinnacle, SRE, Methes and now SunSi, but, one of the most important developments of the project is the financial community cultivated by Syndication. It's a great team and at this point we see no limits to our potential. My job is to direct the Federal and State financing in both the grant and loan activities for the Company as well as overseeing the general implementation of its business plan. Because of my relationship with Pinnacle, we have been able to move forward at an accelerated pace and achieve goals, including grant and loan financing, that I have been advised not to speak of at this time. I would yield to Mr. Sorrentino's advice to the CEO of Syndication Inc., 'it's best to hold our cards close to the chest for the time being'," said McCutcheon Marshall Jr. the President of Pinnacle Energy Inc. and Sentinel Renewable Energies Inc.
July 2, 2009: Novo Energies Corporation (OTC.BB:NVNC), a renewable energy company that has developed and designed an effective and novel process to transform plastic and tire wastes into liquid fuel such as diesel, gasoline or fuel additives, announced today that Grass Roots Research and Distribution, Inc., a Wall Street leading independent research firm, has initiated unsolicited coverage on Novo Energies with a "BUY" recommendation and a $1.25 per share Long-Term Target Price. Grass Roots provides an in-depth analysis, including 5-year financial and valuation projections, on Novo Energies' business and growth drivers. The research report and "Buy" recommendation on Novo Energies can be found at http://grassrootsrd.com/nvnc-home.php or at www.novoenergies.com under Analyst Coverage.
Market Wrap for Wednesday, July 1, 2009:
The S&P 500 climbed 1.4% to its best level since mid-June following a barrage of economic reports, which didn't really offer much inspiration to market participants. The ADP Employment Change report isn't always a precise indicator of what is in store with the official nonfarm payrolls report, but the ADP report does do a good job of handicapping the government's figure. So, with the latest ADP report showing a higher-than-expected the 473,000 job losses for June, many believe job losses in tomorrow's report could exceed the 363,000 that is currently being forecast.
Many economists are worried that continued weakness in labor markets and recent increases in Treasury yields could stymie a recovery in housing. According to the latest data, pending home sales for May increased just 0.1% month-over-month. They were expected to be flat after spiking 7.1% the month before. Meanwhile, construction spending during May fell 0.9% month-over-month and missed expectations. The June ISM Manufacturing Index came in at an in-line 44.8, which means manufacturing activity continues to contract since the Index is below 50. The monthly reading was last above 50 in February 2008. However, the pace of contraction continues to slow as the ISM has now increased six consecutive times.
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