Portage Resources Inc. (PINK:POTG) Cooled After the New High As the Acquisitions Continue
Portgage Resources offers a lot of news to investors these days. The corporation (PINK:POTG) seems to know no stopping. It continues with its property acquisitions, mostly through its Peruvian subsidiary Portage Minerals S.A.
Yesterday, the company announced signing a letter of intent to purchase the Linderos#5 deposit located close to the border with Ecuador. Only two days before this, on Tuesday, Portage informed to have entered into a definitive agreement with Nilam Resources S.A. for the acquisition of the Linderos#4 property.
Just another week before that, the corporation announced its new fully owned Peruvian subsidiary, Portage Resources SA. Additionally, on June 27, the company signed another contract with the purpose to acquire the Wukakuy Property in southeastern Peru.
Not surprisingly, all these developments led to a great stir in the stock too. On Wednesday, POTG noted a 52-week high of $1.24 on a tremendous volume of almost 50.5M shares which is also a record for the company. Since then however, the stock has cooled off – yesterday, it closed at $0.68. This is still much, much higher than its level in mid-June, when POTG was traded at $0.29.
The future performance of the shares arises great interest. At the start of today’s session, the stock was up again, climbing to $0.74. We shall also see whether Portage will come up with other major acquisition news.
What is maybe of greater significance, is whether the new properties are worth their while. Having many possessions does not always guarantee you success. Only the future will show if the new deposits really contain the resources that Portage claims they possess.
You On Demand Holdings, Inc. makes things in the right way. Today, the company offering, as they say, “the first national Pay-Per-View and Video On Demand platform in China”, climbed another big, important step towards the implementation of its goals. The near future will show whether this will boost the stock (OTC:CBBD) of the corporation too.
A few hours ago, as published by Yahoo, Warner Bros. Entertainment informed about signing a distribution agreement with You On Demand Media, the company’s joint venture in China. This will allow millions of Chinese people to watch high quality Hollywood films – they will be offered through the You On Demand platform.
Mr McMahon, the Chairman and CEO of the corporation, defined the deal as “a historic milestone” for You On Demand. Rightly so! Besides, this is not the only positive event announced this month. About a week ago, the company closed a private placement, raising almost $11M. Will these developments cause a jump of the stock too?
Still not clear; we shall have to wait a little to see how the shares will perform on the American OTC market. Yesterday, CBBD finished at $0.11, staying close to its 52-week high of $0.13. The stock has been going right over the last several months. Back in April, it was traded in the range between $0.04 and $0.06. Since then, the advance in the price has been remarkable.
However, the latest financial statements filed on SEC reveal not a very lovely picture. You On Demand reported a significant operational loss of $8.92M for the last year. The losses continued in 2011. For the first three months of 2011, the negative income was $2.23M.
Nevertheless, the prospects for You On Demand on the Chinese market look good, especially after the mentioned deal with Warner Bros. Entertainment.
You will not be bored if you set your eyes and your mind on Altitude Organic Corp. The recent performance of the stock (PINK:ERBB) is, maybe, not that much thrilling. Unlike it, the flood of information released by the corporation and the battle that it is fighting across the USA, may just leave you excited.
Altitude a publicly-traded medical marijuana company which provides independently owned retail dispensaries in Colorado, California, as well as Arizona business support services. As their website states, the corporation acts as “a one-stop-shop for entrepreneurs looking to enter the industry of legal cannabis.”
So, good-bye to boredom! This cannabis issue sounds contemporary and even pressing to many people. And the company developments come one after another, giving the readers almost no time to take their breath. As you are, most probably, well acquainted with the announcements of Altitude, there is not much sense in retelling them again in this article.
It is still of great significance to remind several major events. One of these is the fact that the corporation started its attack on the Arizona market in April. It was then when the company informed to have signed up three potential dispensary owners in Arizona who wished to open their own Altitude Organic Medicine dispensaries.
Perhaps, the launch of a free mobile application for Android and iPhone users might be defined as a huge achievement for the corporation too.
Altitude is watching closely the battle on the national level too. It provided to investors detailed information and plenty of comments regarding the Federal Legislation directed toward legalizing cannabis. This was hardly done by accident. a Not a long time ago, organizations, like the National Cannabis Industry Association (NCIA) introduced several pro-marijuana bills in the House of Representatives.
The corporation was, perhaps, somewhat disappointed when Arizona Governor, Jan Brewer, insisted for a delay in the implementation of the Arizona medical marijuana program. It was probably one of the reasons for which Altitude purchased 50% of Sundance Hydroponics, a national retailer of horticulture equipment. The company’s CEO, Mr Cook, defines Hydroponics as “the most dependable equipment provider in the Colorado medical marijuana industry.”
The latest financial statements of the corporation reveal not a very bright picture. Altitude reported a net loss of $0.58M for the first three months of the year. Besides, the current assets of $20,271 are no match for the current liabilities that reach almost $3M.
Nevertheless, you must not distract your attention from Altitude Organic Corp. in the months to come. The battle continues!
After noting its recent high of $2.40 on the OTCQB market, in the last several days the stock of Legend Oil and Gas, Ltd obviously decided to take a breath. Perhaps the shares (OTC:LOGL) are accumulating strength and are getting ready for a new eruption? This is just an assumption, as it is hard to predict the exact future behavior of LOGL.
For now, we might say for sure, judging by the well-known data from the stock markets, that the shares began cruising around the $2.00 level. They are doing so on below the average trading volumes. On Friday, LOGL ended at $2.05, moving slightly down from the previous close. The decline of 0.97% was accompanied by a turnover of almost 111K.
At present, the stock seems not ready to break new price records, in spite of the positively looking report on the company, conducted by Global Equity Reporter several days ago. In the past year, Legend began expanding by acquiring deposits of strategic importance.
In October, 2010, the company purchased eight oil and gas leases owned by Piqua Petro, Inc. and located in Kansas. The leases contain 1,040 acres of oil producing land and result in a 87.5% net revenue interest to Legend. In addition, this March Legend acquired, through a series of transactions, more than 3,800 acres of undeveloped mineral leases in Divide County in North Dakota.
Still, there is what to be desired, in respect to the company’s financial condition. The latest 10-Q statements show that Legend recorded revenues of $0.46M for the first quarter of 2011. At the same time, Legend reported a net loss of $0.11M during the mentioned period. Besides, the company’s working capital was less than $17K in the end of March.
Probably, these figures, that do not sound so appealing, might undermine the further progress of the shares. For the time being, however, the stock of Legend Oil and Gas stays high and strong on the market.
It is hard to achieve something and twice harder to keep it. So says an old proverb. Fortunately, the shares of Liberty Star Uranium & Metals Corp. (OTC:LBSR) are up to this task. After the eruption in late May, they were able to maintain the high price levels, though on lower trading volumes.
About two weeks ago, when Liberty received the first draft of the NI 43-101 technical report on the Tombstone Porphyry-Precious Metals Project, LBSR simply flew to the skies. In three sessions, the stock made a huge gain climbing 60% up – from $0.028 to $0.045.
What is better, is that in the
days to follow the shares even went a little higher, and on Wednesday finished at $0.053. LBSR continues to remain in the overbought area. We shall see whether is has the potential to progress further up in the near future.
Liberty is a corporation concentrated on the exploration of mineral deposits in the states of Arizona and Alaska. The assets in Alaska are held in the name of the company’s wholly owned subsidiary – Big Chunk Corp.
The latest financial reports, filed by the company, reveal not a very lovely picture. The reader can see total current assets of $1.1M and total current liabilities of $3.3M, which is an indication of a negative working capital. This implies it will be perhaps hard for LBSR to advance substantially in terms of price.
In addition, the statements show a large loss of $19.8M for the twelve months ended Jan. 31, 2011. The greater part of it – $13.2M – came from settlement expenses. The variety and the potential of the company’s properties, however, provides a good base for us to have better expectations about the future of Liberty.
NeoMedia Technologies, Inc. (OTC:NEOM) is a company providing infrastructure solutions that enable the mobile barcode ecosystem world-wide. NeoMedia’s platform turns mobile devices with cameras into barcode scanners. The company’s barcode ecosystem includes NeoReader – the barcode scanning application which makes the mentioned transformation of mobile camera phones.
As we see, NeoMedia is positioned in the 2D mobile barcode technology sector. The hot news for NeoMedia
Technologies came in the end of May when the company’s patents were re-examined and affirmed by the United States Patent and Trademark Office (PTO). This was a truly important victory for NeoMedia, as the present CEO, Mrs Laura Mariott, states in a recent interview.
The patent authorities in America ruled in favor of NeoMedia’s Barcode Lookup Patent. Company’s representatives now hope that the confirmation of a patent, challenged by reexamination twice in four years, “puts the issues of its validity to rest.”
To pay so much attention to this patent decision is not an accidental circumstance. We already outlined the significance of the news for the company. Besides, it triggered a real explosion in NeoMedia’s share price on the American OTC market in late May. NEOM went into a new orbit, climbing from $0.015 to $0.207 within two days, or by 1280%.
Now, the euphoria has come to its natural end. In June, the market cooled off and the shares began declining, to close yesterday at $0.048. Perhaps, investors were also cooled by the recent financial reports of NeoMedia – they reveal current assets of $600 thousand and current liabilities of $79 million.
So, where will the company and the stock go from now on?
Smokers feel threatened! Rightly so. Certainly, most of you are well aware of the “No Smoking” hype going on in America and in Europe for quite a long time. You must have witnessed the smoking-ban measures undertaken by many authorities in many countries. Probably, you have heard about the intention of some governments to completely prohibit smoking in public places. And, of course, you all know about the harmful influence of cigars on our health.
All these considerations made, we should hardly feel surprised by the fact that several companies, offering alternative products to the regular smokers, enjoy such a huge success. Smokefree Innotec, Inc. (PINK:SFIO) is an eloquent example. In several consecutive recent announcements, the company seized the opportunity to inform the public about the high demand of its RE/AL e-cigarettes.
The e-cigarettes were offered through the SFIO website shopping cart and were entirely sold out in the end of May. Fortunately, they were quickly refilled with new shipments of RE/AL. Now customers continue to enjoy the benefits of using this product.
Perhaps some of the reasons, that made Smokefree’s e-cigarettes such a hit, lie in the advantages they offer, as shown on the company’s website. We shall see whether the company will become a smoker’s favorite. For now, the managers of Smokefree must feel delighted by the fast speed at which customers buy their product.
The success of RE/AL led to a natural progress in the share price too. The advance was more evident in mid-May, when SFIO simply erupted on the American OTC market gaining value on large volumes.
Chembio Diagnostics, Inc (PINK:CEMI) is supposed to file its 10-Q for the first quarter of the year today and yesterday the stock entered the market with a gap up in anticipation of the event. Two days ago, the company also announced the regulatory approval to market another product in Brazil, thus no wonder that CEMI is again quickly up after the drawback.
Yesterday, CEMI gained 3.70% in value and closed at $0.56 for a share. The intense activity before the filing of the latest financial results caused a volume of over 358,000 traded shares, more than twice the daily average of 162,000. RSI is pointing up and MACD line have made a bullish cross, all suggesting that CEMI could easily break the next resistance at $0.58, which appears to be also the 52-week high, and face a blue sky breakout.
A prerequisite for that to happen, however, is that the 10-Q delivers no unpleasant surprises to investors and that the company has kept the positive trends from the past quarters. CEMI generates revenues from the sale of diagnostic tests and other related products, as well as from milestone payments and grants. Revenues showed stable growth and reached $5.6 million in the last quarter of last year and the company reported a record net income of $1.88 million, compared to a total of $633,000 for all of the previous three quarters. CEMI also had as of the end of last year no substantial debts.
This Tuesday Chembio Diagnostics said that Bio-Manguinhos, the company’s Brazilian partner, has received regulatory approval from Brazil’s National Health Surveillance Agency to market Chembio’s Dual Path Platform (DPP®) Syphilis Treponemal test. Under the agreement, Chembio is expected to receive $5.7 million from the sales of two Syphilis products in Brazil over the three years starting November 2010.
Sino Agro Food, Inc. (PINK:SIAF) stock price saw unusual fluctuations as the company finally filed its current financial results with the SEC. Around the time of the appearance of the 10-K, SIAF dropped below $1 per share, though as of yesterday the one dollar per share is already recovered.
SIAF closed yesterday session at exactly $1 for a share and with a 1.01% increase in its price. Trading volume was around the average and the market looked consolidated. Although the company has already filed a registration statement for its common stock with the SEC and obviously intends to be a diligent filer from now on, SIAF still carries the “Limited Information” shield on the OTC Markets.
Much higher volatility, as seen on the diverging Bollinger bands, is maybe typical in the case of a company that has just provided current financial reports and reliable information on its business. Thus, it may not be a surprise if SIAF makes more unexpected moves until it finds again a stable price level.
Sino Agro Food operates in China through five subsidiaries engaged in fishery projects, farming of Hylocereus Undatus (known as Bean Capers or Pitaya), dairy cows and cattle farming, manufacturing of bio-organic fertilizer, livestock feed, cash crops farming and beef cattle rearing and fattening. The largest part of the company’s revenues came in the past couple of years from its dairy segment.
For 2010 SIAF reported impressive growth:
*Total revenue grew from $21.7 million to $40.55, or by 87%
*Operational income almost doubled to $18.9 million, net income for 2010 was $12.7 million
*Strong financial position with over $40.8 million in working capital on a consolidated basis
This month the share price of Far East Energy Corp. (OTC:FEEC) extended the paused downtrend until it reached the 40 cents level which for now appears to be safe ground for the stock. Obviously, the company is still unable to offer news or fundamental improvements that could initiate appreciation for FEEC stock.
For a forth session in row the stock closed yesterday at exactly $0.40 for a share. Trading volume was around 404,800 shares, or much less than the 30-day average daily volume of over 1 million shares. Technically, market consolidation suggests that this could be the final stop of FEEC decline, but fundamentally the company holds a market cap of almost $137 million that looks inflated for a company with yet no revenues and financial problems.
News came from Far East Energy lastly in the beginning of the month when the company said that its CEO and President Michael R. McElwrath will present at the IPAA Oil & Gas Investment Symposium on on April 11, 2011. However, it looks like his presentations brought strong disappointment among investors as exactly on that date FEEC share price fell through the $0.43 support.
Far East Energy 10-K for the fiscal year ended December 31, 2010 was filed at the end of March. In it, the company states that it has been able to deliver minimal amounts of gas from the Shouyang Block under the Shouyang Project. Though, there were interruptions due to technical problems and the gas flow was supposed to start again in the middle of last month.
Further, FEEC reports no sales and a net loss of $16.2 million for 2010. Cash at hand at the end of the year was $27.86 million. On the one hand it should be enough to cover the expenses by the end of the year, but on the other the current liabilities exceed $29.6 million. Far East Energy also has to establish stable gas delivery from its project in order to make investors more confident and to prevent the stock from losing more value.