www.standoutstocks.com: Stocks That Stand Out For Nov. 20th, 2009 Are LPIH, BZCN, KNDR, BRYN
BRYN | Quote | Chart | News | PowerRating -- www.Standoutstocks.com: Stocks That Standout For Nov. 20th, 2009 are Longwei Petroleum Investment Holding Ltd. (OTC Bulletin Board: LPIH), BizAuctions, Inc. (Pink Sheets: BZCN | Quote | Chart | News | PowerRating), Kender Energy Inc. (PINKSHEETS: KNDR | Quote | Chart | News | PowerRating), BRYN Resources Inc (PINKSHEETS: BRYN)
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Longwei Petroleum Announces Revenue and Earnings for the First Quarter of Fiscal Year 2010 Ended September 30, 2009
TAIYUAN CITY, China, Nov 20, 2009 --
-- Revenue up 33% Year-over-Year to $59.36 million
-- Net Income up 31% Year-over-Year to $7.21 million, or $0.09 EPS
-- Net Income Excluding Non-Cash Fair Value Adjustments Associated with Stock Warrants was $8.26 million, or $0.10 EPS
-- Operating Income up 48% Year-over-Year to $11.06 million
Longwei Petroleum Investment Holding Ltd. (OTC Bulletin Board: LPIH) announced its financial results for the quarterly period ended September 30, 2009.
Mr. Cai Yongjun, chairman and chief executive officer of Longwei Petroleum Investment Holding Ltd., stated: "I am very pleased with our financial results for the first quarter of fiscal 2010. I can also say that plans to have our Gujiao facility fully operational in January 2010 are on track, and the facility is already fulfilling some small but daily customer orders for us at this time. We look forward to strong growth in both Taiyuan and Gujiao during the next several years to come." The Company reported revenue of $59.36 million for the three-month period ended September 30, 2009, up 33% from $44.48 million for the same three-month period of 2008. The increase was primarily due to certain new customer contracts. The Company continued to expand its customer base, and the pricing of its products continued to follow a trend toward higher, more profitable pricing. The average sales price per metric ton of product the Company sold was $1,142 and $1,014 during the three months ended September 30, 2009 and 2008, respectively.
Costs of sales for the three months ended September 30, 2009 were $47.75 million as compared to $34.84 million for the three months ended September 30, 2008. The increase of $12.92 million, or 37%, was primarily due to the revenue growth resulting from certain new customer contracts. Gross profit was 20% and 22%, respectively, for the three months ended September 30, 2009 and 2008. The average cost basis per metric ton of product the Company sold was $913 and $780 during the three months ended September 30, 2009 and 2008, respectively.
Operating expenses for the three months ended September 30, 2009 amounted to $545,000 as compared to $2.17 million for the three months ended September 30, 2008. The decrease of $1.62 million, or 75%, was primarily due to the curtailing of administrative costs in order to focus resources on the new Gujiao facility's buildout.
Net income grew 31% year-over-year to $7.21 million, or earnings per share of $0.09, up from earnings per share of $0.07 in 2008. Operating income was $11.06 million compared to $7.47 million for 2008, which represents growth of 48% year-over-year.
Chief Financial Officer Jim Crane stated: "We exceeded our internal forecasts for the quarterly reporting period ended September 30, 2009. Revenues were approximately $5.6 million higher than expected due to significant additional sales in August and September, while net income was approximately $600,000 higher than expected. The new facility looks very good and is already active. We are the only licensed non-government operated fuel distributor in Gujiao who also has significant storage capacity. As previously announced, we expect very strong growth in fiscal 2010." Financial Outlook: As of September 30, 2009, the Company's current assets were $85.24 million and current liabilities were $7.91 million. Cash and cash equivalents totaled $9.43 million as of September 30, 2009. The Company's shareholders' equity at September 30, 2009 was $121.65 million compared to $114.92 million at June 30, 2009. The Company had cash provided by operating activities for the three months ended September 30, 2009 of $9.57 million compared to cash used in operating activities of $751,000 for the three months ended September 30, 2008. Net cash used in investing activities was $7.64 million for the three months ended September 30, 2009 compared to $0 for the three months ended September 30, 2008. The Company had net cash provided by financing activities of $76,000 for the three months ended September 30, 2009 compared to $0 for the three months ended September 30, 2008.
About Longwei Petroleum Investment Holding Limited Longwei Petroleum Investment Holding, Limited (the "Company") is an energy company that, through its subsidiaries, engages in oil and gas operations in the People's Republic of China ("PRC"). Oil and gas operations consist of transporting, marketing and selling finished petroleum products. The Company's headquarters and primary facilities are located in Taiyuan City, Shanxi Province ("Shanxi"). The Company's second facility is located in Gujiao, Shanxi. The Company purchases diesel, gasoline, fuel oil and kerosene (the "Products") from various petroleum refineries in the PRC. The Company is 1 of 3 licensed intermediaries in Taiyuan City and the sole licensed intermediary in Gujiao that operates its own large scale storage tanks. The Company has the necessary licenses to operate and sell Products not only in Shanxi but throughout the entire PRC. The Company's storage tanks have the largest storage capacity of any privately operated entity in Shanxi. The Company seeks to earn profits by selling its Products at competitive prices to large-scale gas stations, coal plants, other power-supply customers and small, independent gas stations. The Company also earns revenue by acting as a purchasing agent for other intermediaries in Shanxi and through the sale of diesel and gasoline at gas stations located at each of the Company's facilities. The sales price and the cost basis of the Company's products are largely dependent on the price of crude oil. The price of crude oil is subject to fluctuation due to a variety of factors, all of which are beyond the Company's control. For further information on Longwei Petroleum Investment Holding Limited, please visit http://www.longweipetroleum.com . You may register to receive Longwei Petroleum Investment Holding Limited's future press releases or request to be added to the Company's distribution list by contacting Dave Gentry at info@RedChip.com or 1-800-733-2447, Ext. 104.
Forward-Looking Statements Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about Longwei's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Longwei's operations are conducted in the PRC and, accordingly, are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company's results may be adversely affected by changes in the political and social conditions in the PRC and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation. Other potential risks and uncertainties include but are not limited to the ability to procure, properly price, retain and successfully complete projects, and changes in products and competition. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
BizAuctions Total Bids on eBay for 90-Day Period Hits 12,402
SAN DIEGO, Nov 19, 2009 -- BizAuctions, Inc. (Pink Sheets: BZCN), a prime provider of commercial eBay liquidation services for excess inventories, overstocks and returns, announced today total bids received for its eBay auctions during the last 90-day period.
Delmar Janovec, CEO comments, "BizAuctions, a Titanium Powerseller, on eBay through its eBay store name: BusinessAuctions Inc, total bids received on its listings for the last 90-day time period reaches, 12,402. The average sold price for each listing was approximately $89.00. Management and staff are committed in providing our customers with excellent service and quality brand name products at significant savings from retail prices. This service continues to reflect in the Company's customer satisfaction rating on eBay of 98.9%, with over 40,700 positive feedbacks." "BizAuctions employs two primary business models, whereby it liquidates inventory through eBay on consignment for a lucrative commission; and/or it purchases inventory at a fraction of retail price for the purpose of liquidating it for a profit. BizAuctions consigns, buys inventory, and liquidates through eBay, its recently opened retail store, Lucky 7's, and soon through its recently announced Letter of Intent with Midwest Outlet Centers," continues Janovec.
The Company's clients have included some of the Nation's leading retail names at the forefront of their industries. With a long-term strategy to provide eBay liquidation services to Fortune 1000 enterprises, BizAuctions is a clear and lucrative solution for most any business to liquidate excess inventory on eBay.
More information is available at www.BizAuctions.com. Investors and media can receive a free investor kit for BizAuctions, Inc. by contacting Investor Relations at investors@BizAuctions.com or (800) 961-3275. A virtual tour of BizAuctions' facilities and flash video presentation can be viewed at http://www.bizauctions.com/ ABOUT BIZAUCTIONS - ADDRESSING THE $60 BILLION PROBLEM BizAuctions, Inc. (Pink Sheets: BZCN | Quote | Chart | News | PowerRating) is a prime provider of commercial eBay liquidation services for excess inventory, overstock items, and returns. Our clients have included some of the Nation's leading retail names at the forefront of their industries.
BizAuctions addresses the $60 billion excess inventory problem for clients by sending trucks to pick up pallets of excess inventory, selling the inventory on eBay, and collecting payment.
We provide our clients with a new sales channel to generate additional revenue on excess inventory, while at the same time freeing up their valuable storage and retail space.
With a long-term strategy to provide eBay liquidation services to Fortune 1000 enterprises, BizAuctions is a clear and lucrative solution for most any business to liquidate its excess inventory on eBay.
The Company encourages the public to read the above information in conjunction with its year-end statement for December 31, 2008, and the quarterly statements filed in calendar year 2009, at www.PinkSheets.com.
The information contained in this press release may include forward-looking statements. Forward-looking statements usually contain the words "may," "could," "possibly," "feel," "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the Company's uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its services, competition, limited service facilities, dependence on technological developments and protection of its intellectual property. The Company's actual results could differ materially from those discussed herein.
Kender Energy Signs Malta LOI Agreement for 1000 Units Minimum Annually Sales Commitment for Its Solar Technology, With Markets in Over a Dozen Countries
GENEVA, Nov 19, 2009 -- Kender Energy Inc. (PINKSHEETS: KNDR | Quote | Chart | News | PowerRating) today announced that it has signed a Letter of Intent (LOI) with Malta Licensing & Distribution Network S.A. (MLDN), a Maltese based international distributor with exposure into over 12 countries world-wide.
The earlier discussions with Malta Licensing & Distribution Network have resulted in an increase from the original 500 units per year to 1000 units per year minimum sales, in the definitive Letter of Intent (LOI).
"With distribution into North Africa, Greece, Turkey, the Middle East and the UAE the LOI agreement with Malta Licensing will accelerate our growth into these very important international markets," stated Sean Kelly, President and CEO of Kender Energy Inc. Mr. Kelly further states, "We welcome Malta Licensing and Distribution on the Kender Energy team with the goal to further populate the international world with our cutting edge solar technology." About Kender Energy Inc.: Kender Energy Inc. is a development phase company active in the field of solar energy. Its present prototypes of solar panels are being developed into a full-scale solar energy production system. The particularity of the Kender solar panel system and technology is to allow, via a closed circuit of gas (usually helium), to create a heat exchange with the sunlight and the air from the environment. The exchange generates the spinning of the helium gas in the closed circuit, propelling a turbine, which produces electricity in a 100% clean and renewable process. The system's main advantages are that it is efficient, cheap in production, and modular. The company is based near Geneva, Switzerland. Its Website is www.kendersolar.com.
Safe Harbor Statement: All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
Bryn Resources Inc. Completes Financing LOI with Prospera Management Corp
TORONTO, Nov 19, 2009 -- BRYN Resources Inc (PINKSHEETS: BRYN | Quote | Chart | News | PowerRating) (PINKSHEETS: BRYN.PK). Bryn Resources Inc is pleased to announce that it has finalized the terms of a letter of intent with Prospera Management Corp. and both Bryn Resources and Prospera have executed the LOI. Pursuant to the LOI Prospera will raise $2,000,000, being all of the funds required to satisfy Bryn Resources obligations under the LOI agreement entered into with Cayenne Gold Mines Ltd. thereby crystallizing Bryn's 45% interest in The Windflower Property. The funding by Prospera is to match the requirements of Bryn Resources under its LOI with Cayenne.
The LOI with Prospera includes conditions for repayment of the funds advanced to Bryn Resources from the proceeds of the processing of the 10,000 ton bulk sample. Under the terms of the LOI with Cayenne, the processing will be initiated upon the execution of the JV Agreement between Bryn Resources and Cayenne the final terms of which are now being finalized.
Bryn Resources has by this LOI completed the steps necessary to earn its 45% interest in the Cayenne property and further its objectives as an exploration company. Bryn Resources continues to negotiate with Cayenne in respect to its other holdings.
Bryn Resources is also in negotiations with financiers in a bid to raise the funds necessary to participate in the balance of Cayenne's properties with proven reserves, including options on the additional 30,000 oz of proven gold mineralization which at present values would generate $33,000,000 subject to extraction costs. Bryn Resources continues to investigate the procurement of additional properties and options.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from to time in the Company's periodic reports filed with the Securities and Exchange Commission.
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