SGDH, OPSY, SNEY, GSAE, YASH, MODC, SEWC, CIRC, GRRF, GETA, SYNJ OTCPicks.com Daily Market Movers Digest Midday Report for Friday, August 14th

 

Our Stocks to Watch today include SGD Holdings Ltd. (OTC: SGDH), Optical Systems Inc. (OTC: OPSY), Sunergy Inc. (OTCBB: SNEY), Green Star Alternative Energy Inc. (OTC: GSAE), Yasheng ECO-Trade Corp. (OTCBB: YASH), Modern Technology Corp. (OTC: MODC), Sew Cal Logo Inc. (OTCBB: SEWC), CirTran Corp. (OTCBB: CIRC), China GrenTech Corporation Ltd. (Nasdaq: GRRF), Genta Inc. (OTCBB: GETA) and Syndication Inc. (OTC: SYNJ).

 

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SGD HOLDINGS LIMITED (OTC: SGDH)

 

Detailed Quote: http://www.otcpicks.com/quotes/SGDH.php

 

Company Profile: http://www.otcpicks.com/sgd-holdings/sgd-holdings.htm

 

SGD Holdings, Ltd. is a holding company which owns and operates through its wholly-owned subsidiary, Ecopaper, Inc. (www.ecopaper.com). Its goal is to acquire new technologies which can positively impact the environment either through internal development or by acquisition.

 

SGDH News:

 

August 12 - SGD Holdings, Ltd. Wholly-Owned Subsidiary Signs Exclusive Sugar Cane Paper Agreement

 

Ecopaper, Inc.'s New, Better Than Recycled Paper Will Help Reduce Dependence On Virgin Tree Paper

 

SGD Holdings, Ltd. (OTC: SGDH) announced that its wholly-owned subsidiary, Ecopaper, Inc., has obtained an exclusive distribution and marketing agreement for the sale of Sugar Cane Paper in North America.

 

The North American market for recycled office paper is currently estimated at $5.5 billion. Ecopaper, Inc. anticipates a sharp increase in sales because this multi-purpose copy and print paper will be competitively priced and more environmentally friendly than recycled paper.

 

"This paper is made from 80% sugar cane waste and 20% Certified Plantation Fiber instead of trees or recycled tree products. It is fully biodegradable and recyclable with improved brightness and print contrast. It is truly a paradigm change," stated Harry Johansing, CEO of SGD Holdings, Ltd. "This exclusive agreement continues to differentiate the Ecopaper brand from our competitors," he added.

 

Apart from its new products, Ecopaper has also cut costs and streamlined production and efficiencies throughout the company while sustaining our beliefs in fair wages and a great work environment.

 

ABOUT ECOPAPER, INC.

 

Ecopaper, Inc. is the first company in the history of the paper industry to create and market treeless paper of a superior quality. Every page of Ecopaper is smooth, acid-free, durable, chemical-free, and made in Costa Rica. Ecopaper, Inc. has developed an innovative and economically feasible option for the removal of 230,000 tons of agro-industrial waste that are dumped yearly in Costa Rica alone. The company's challenge is to invent new processes and create paper from exotic tropical fibers from waste materials in new textures and tones for consumers. The results of processing these exotic tropical fibers are items that both appeal to the consumer and to positively impact the environment.

 

OPTICAL SYSTEMS INCORPORATED (OTC: OPSY)

"Up 1.37% in morning trading"

 

Detailed Quote: http://www.otcpicks.com/quotes/OPSY.php 

 

Company Profile: http://www.otcpicks.com/optical-systems/optical-systems.htm

 

Optical Systems, Inc., through its operating subsidiary, Automotive Software Designers, Inc., develops technology and services for the automotive retail industry designed to maximize productivity and increase profits at auto dealerships. ASDI's flagship technology solution, Save-a-Deal, is a turnkey customer relationship management (CRM) tool for auto dealerships. Our business development center (BDC) provides a variety of services designed to help auto dealerships drive traffic to their showroom or Web site, retain customers and generate new streams of revenue.

 

OPSY News:

 

August 13 - Optical Systems, Inc. Achieves Major Milestone in Cutting-Edge remoteCSR Program

 

Automotive Software Designers, Inc., a leading provider of software and services for the automotive retail industry, and a wholly-owned subsidiary of Optical Systems, Inc. (OTC: OPSY), announced that Ebony Benjamin from Georgia became the 200th remoteCSR to join the company's BDC national team.

 

ASDI has initiated a high tech project to integrate more than 211 professional customer service representatives (CSR) from 32 states into our Business Development Center programs. This growing list of talented professionals provides phone call, text messaging, e-mail and other digital support for all of ASDI products and services.

 

The initial assignment for a remoteCSR includes support for ASDI's Identity Theft and Extended Service Agreement products. Each CSR has the option to be promoted as a Team Lead once they gain experience, and to work in other programs including our Sales Manager and Service Manager BDC programs. The remoteCSR work flow process is supported by ASDI with remoteMeetings, remoteTraining, remoteService and remoteSupport anywhere and at any time.

 

The infrastructure was designed and built by our team with expansion as a primary goal. We are proud to announce that we are now in a position to grow the remoteTeams to more than 1,000 remoteCSRs and Team Leads in 48 states without significant capital investment being required.

 

Unlike other BDC programs, there are no dialers, robo calls or short cuts in ASDI's BDC. Talking with and communicating with our customers is the way we operate.

 

ASDI projects that 1,000 remoteCSRs making 85,000 new contacts a day at the standard closing rate of 2 percent, have the potential to generate $50 million in revenue per year for the company's BDC.

 

"The company's cost effective software and services are continuing to gain traction in the automotive retail industry," said B.J. Grisaffi, Chief Executive Officer of Optical Systems, Inc. "We are currently evaluating numerous opportunities to license our software to companies in other high-growth industries, which require quality sales support and customer service."

 

SUNERGY INCORPORATED (OTCBB: SNEY)

 

Detailed Quote: http://www.otcpicks.com/quotes/SNEY.php 

 

Company Profile: http://www.otcpicks.com/sunergy-inc/sunergy-inc.htm

 

The Company is an aggressive junior mining exploration and development Company that is production oriented at the earliest possible profitable opportunity. We control 100% of the 150 SQ. Km. Nyinahin mining concession with a full prospecting license. The concession is surrounded by several operating mines and is adjacent to Newmont Mining's property. This concession has the Ofin river flowing through our eastern portion and there are numerous artisan pits ready for testing and evaluation for near term production. The Ofin river is known for good alluvial gold production. Artisans usually recover about 30% of the available gold through primitive hand methods, leaving 60-70% to be recovered by modern mechanical operations.

 

SNEY News:

 

August 13 - Sunergy Reports Update on Operations on Its 150 sq. km. Ghana Mining Concession

 

Sunergy Inc. (OTCBB: SNEY) (the "Company") reports the following update on the planning and preparation for operations on our 150 sq. km. Nyinahin mining concession, located in Ghana, West Africa. During Q'4 2009 we plan to test and evaluate the alluvial gold recovery potential along the Ofin River which runs through the eastern portion of the concession for about 45 km. We plan to do this by bulk sampling the numerous existing artisan pits along the river on our concession. Our planned budget is around $300,000.00 US which could recover an estimated 1,000 oz./gold generating around $900,000.00 of revenue from the program. Our plan involves either leasing a suitable gold recovery plant or joint venturing with another operator with suitable equipment. The permitting for the operation will commence shortly.

 

The Ofin River is an easterly-flowing waterway in Ghana. It flows through the Tano Ofin Reserve in Ghana's Atwima District. The Ofin riverbed is 90 meters above mean sea level. The Ofin and the Pra rivers form the boundary between Ghana's Asahanti and central regions. Dunkwa-on-Ofin is a major town on the river. Gold is mined from the river's sediment. The Ofin tributaries also offer good gold and diamond recovery historically.

 

Karl Baum, Manager of West African Development, said, "Since this concession already has a full prospecting license, permitting is very straight forward and inexpensive. The artisan pits have no overburden and are considered high grade targets by the industry in Ghana. Many alluvial projects in Ghana have from 2-15 meters of overburden, so our excavation costs should be very economic. I am excited about the opportunity for early cash flow."

 

Company President Joseph Guerrero said: "This cornerstone project offers both immediate gold recovery opportunities through the numerous abandoned Artisan pits along the Ofin River as well as substantial hard rock exploration in three large anomalies that warrant a vigorous exploration effort. Some larger mining Companies operating in the area have already expressed interest in evaluating the mineral potential on this concession and we are currently evaluating 2 immediate gold production acquisition opportunities to establish immediate cash flow and aggressively advance our shareholder value."

 

August 12 - Sunergy Appoints Karl A. Baum Manager of West African Business Development

 

Sunergy, Inc. (OTCBB: SNEY) (the "Company") announced the appointment of Mr. Karl A. Baum as Manager of West African Business Development to further advance the Company's Nyanhin Project within the Republic of Ghana and other business and mining interests in the region.

 

Mr. Baum brings with him a background in Business Management from Arizona State University and International Management Studies from Thunderbird School of Global Management. He has over 5 years of experience within West Africa serving as the General Manager for (2) small-scale exploration and gold mining operations within The Republic of Ghana with 7,000 ton/day capacity. As International Procurements and Logistics Manager he has overseen the shipment of over USD 15 Million worth of capital equipment from the United States and imported into Ghana. He has led the permitting activities for the operating mines in Ghana and enjoys a good working relationship with the local and national authorities. Prior to his positions within Ghana, Mr. Baum served as Permitting Coordinator on several gold mining projects in Colorado working with the EPA and Division of Minerals and Geology to ensure regulatory compliance.

 

Mr. Baum has also provided assistance in developing several large scale contracts for mining services within The Republic of Liberia and Sierra Leone; giving him a working knowledge of the customs and concerns of performing within the West African business climate. This hands on experience within the region has assisted him in providing turn-key supply chain management solutions which are vital to successful operations in this part of the world.

 

Karl commented, "I am excited to join the Sunergy family because we share the same vision and goals for developing a large diversified Company throughout West Africa. This economic downturn has uncovered several opportunities that are available now for those ready to do business in Ghana and West Africa. I will return to Ghana shortly and start implementing our business plan for near term gold production and cash flow and keep my eyes open for opportunities."

 

Company Chairman P.K. Rana Medhi said, "We now have an area manager with local knowledge and substantial connections in Ghana. With our debt settled, we are now in position to begin work in earnest on our 150 sq. km. Nyinahin mining concession and Karl is the perfect manager to take us through permitting to production."

 

President Joseph Guerrero commented, "Our aggressive approach to developing our projects and evaluating expansion projects can now proceed rapidly. With Karl's assistance and leadership, we are committed to building a diverse revenue base taking advantage of the business opportunities that Ghana offers."

 

GREEN STAR ALTERNATIVE ENERGY INCORPORATED (OTC: GSAE)

 

Detailed Quote: www.otcpicks.com/quotes/GSAE.php 

 

Company Profile: http://www.otcpicks.com/Newsletter/GSAE_eProfile_091708.htm 

 

Green Star Alternative Energy is an environmentally conscious, renewable energy producer. The Company is working to develop more than 300 MW (megawatts) of clean electricity through wind energy. The corporate revenue model is two-fold: the use of a renewable resource allows not only for the creation of environmentally friendly energy, but the granting of carbon (greenhouse gas) emission credits which may be traded and sold. Green Star is pursuing a significant opportunity to provide clean energy to the growing Republic of Serbia and neighbouring European countries. Through a joint venture with key wind farm and power trading company Notos, Green Star will become the nation's first developer of wind power. GSAE is focussed on green technology and sustainable energy programs like wind turbines, hydro electric power generation, and other renewable electricity models.

 

GSAE News:

 

August 11 - CEO of Green Star Alternative Energy Conducts Exclusive Webcast Interview with The Green Baron Report

 

Green Star Alternative Energy, Inc. (OTC: GSAE) ("GSAE" or the "Company") announces that its CEO Mike Andric has conducted an exclusive new audio-taped webcast interview so that GSAE shareholders and the investment community can learn more about the Company’s recent developments and growth plans. Unrestricted access to the webcast is now available on the “Webcasts” page at www.TheGreenBaron.com. This webcast is also available at www.StrictlyStocks.com, "Where Wall Street speaks to the World."

 

The Green Baron Report also issued a new “Stock Pick” profile dated Tuesday, August 4th, 2009 to its members and is available on their website. The report focused on how Green Star is moving forward to develop wind energy projects to the under supplied market in Serbia. The report also detailed how its Joint Venture with Notos, a private Serbian company dedicated to renewable energy, enables Green Star to establish a leadership role in the development and supply of wind power in Serbia and the Balkan Peninsula.

 

YASHENG ECO-TRADE CORPORATION (OTCBB: YASH)

"Up 11.11% in morning trading"

 

Detailed Quote: http://www.otcpicks.com/quotes/YASH.php 

 

Company Profile: http://www.otcpicks.com/yasheng-eco-trade.htm

 

The Company's business is the identification and acquisition of undervalued assets within emerging industries for the purpose of consolidation and development of these businesses and sale if favorable market conditions exist. The Company's competencies include financial services, mergers and acquisitions, accounting, real estate development and natural resources exploration. The Company is currently in the process of developing a logistics center. As part of its strategy to develop a logistics center, the Company has entered a term sheet with Yasheng Group in which Yasheng Group, among other things, has agreed to contribute real property for the development of a logistics center.

 

YASH News:

 

August 10 - Yasheng ECO-Trade Corporation Provides Corporate Update

 

The Board of Directors for Yasheng ECO-Trade Corporation (OTCBB: YASH) recently provided a corporate update on the Company’s activities relating to the development of a trade zone and certain potential Merger and Acquisition (M&A) activity. Following the company’s signing of their initial term sheet with Yasheng Group on January 26, 2009 (the “Yasheng Group Transaction”) the Company has been actively working to position and maximize the opportunities associated with the Yasheng Group Transaction.

 

The first component of the Yasheng Group Transaction involves the establishment of the Yasheng Asian Pacific Cooperative Zone (the "Cooperative Zone"). The Cooperative Zone will be located in Southern California, in a big box building – as a free zone facility – which will provide logistics, distribution, customer service, sales marketing and quality control headquarters for designated Chinese companies. Since signing the agreement in January, the Company engaged Colliers International to locate and negotiate a long term lease for a big-box-building. In addition, the Company has engaged Legend Transportation and Better Online Solutions to consult the Company regarding RFID tracking, Logistics Coordination and shipping. The Cooperative Zone will be a free zone big box (e.g. merchandize entering the US into this building will not need to clear customs, until shipped outside the building to the end user) storing massive merchandize under one roof from China. This concept will allow the Cooperative Zone to handle all paperwork associated with Export/Import, as well as vacate the needs of local US clients to import big quantities of goods, and therefore better manage their inventory turnover, as well as optimize the needs for working capital.

 

The second component of the Yasheng Group Transaction involves the potential merger or acquisition of the Yasheng Group and other Chinese companies into the Company. In addition to the transaction with Yasheng Group, the Company has recently also signed a binding term sheet with Zangye Golden Dragon. The Zangye Golden Dragon proposed transaction was introduced to the Company by the Yasheng Group. The acquisition of Yasheng Group or other Chinese entities is subject to the drafting and negotiation of final definitive agreements, performing due diligence as well as board approval of the Company. As such, there is no guarantee that the Company will be able to successfully move forward with such acquisitions.

 

Finally, the transaction has evolved to include the establishment of a Joint Venture to expand the opportunities for both the Company and Yasheng. This transaction includes the establishment of Yasheng Russia, which will focus on the development of a Stock Breeding Farm. The joint venture is subject to the drafting and negotiation of a final definitive agreement, performing due diligence as well as board approval of the Company. As such, there is no guarantee that the Company will be able to successfully move forward with such joint venture.

 

Yasheng ECO-Trade Chairman Greg Rubin commented, “The Board is pleased with the progress the company has made and is encouraged by the companies’ plans for the future.”

 

MODERN TECH CORPORATION (OTC: MODC)

"Up 37.50% in morning trading"

 

Detailed Quote: http://www.otcpicks.com/quotes/MODC.php

 

MODC acquires promising technology companies and related assets to promote their growth and development. The company provides interim management and related services to its portfolio and client companies. It builds revenues and asset value through a model of continuous growth and derives further income from appreciation of its portfolio and licensing or revenue-sharing agreements.

 

MODC News:

 

July 28 - Modern Technology Corp Announces Emissions Controlled Green Fuel Power Generators

 

Modern Technology Corporation (OTC: MODC) announced the latest product development arising from the Company's hydrogen generator and emission control technology. Beginning on 15 August 2009 worldwide shipping will begin for the Company's GreenGen de-centralized electricity generator systems.

 

The GreenGen systems feature multi-fuel capabilities allowing the use of diesel, bio-diesel, vegetable oils and even waste motor oils and transmission fluid. The systems are ideal for efficient green power production where high-reliability and extreme life/duty-cycles are required. The GreenGen system can run continuously on reclaimed, waste, and green fuels. GreenGen systems operate at an incredible 80%+ mechanical efficiency.

 

The GreenGen system employs the Company's EC-1 Emissions Control technology to reduce or eliminate exhaust emissions. The Company is not aware of any system possessing the GreenGen's combination of fuel efficiency, multi-fuel capability, emissions control, and extreme reliability.

 

GreenGen systems operate slowly between 600 and 1000 rpm. Higher rpm's create more noise pollution with most competitor systems operating at over 2400 rpm. Low rpm's insure long duty and life cycles. A GreenGen system can provide service for many decades.

GreenGen systems are available in power levels up to 24hp in 120 or 240 volts output.

 

GreenGen systems are startlingly fuel-efficient and use green or waste-product fuels. The entry-level 4 Kilowatt system uses approximately 2 gallons of fuel in 10 hours when running near full load. Single systems can be configured up to 24kw and can be combined to produce kilowatts above 24kw.

 

The anticipated market is international and includes commercial and residential level customers.

 

The Company is now capable of providing complete decentralized power station solutions with extreme reliability and life-cycles, operating solely on green-fuels with minimal or no emissions.

 

Investors will soon be further updated on the following:

 

* Improved online order entry and shipping application to handle distributors and customer orders

* New distributor and applications for the OEM EC-1 for Electrical Power Generation using multi-fuel

* New Emissions control target markets and international partners for distribution

* Licensing agreements for OEM emission and fuel efficiency enhancements for bio-fuel generators

* New product manufacturing and shipping facilities will be announced

* Anticipated additional portfolio acquisitions adding revenues of $5-$15 million dollars

 

SEW CAL LOGO INCORPORATED (OTCBB: SEWC)

"Up 25.00% in morning trading"

 

Detailed Quote: http://www.otcpicks.com/quotes/SEWC.php

 

Sew Cal Logo, Inc. produces and manufactures custom embroidered caps, sportswear, and related corporate identification apparel primarily in the United States. It offers caps and headwear, jackets, denim, cargo shorts, pants, and related apparel. The company also provides contract embroidery and silk-screening services to the manufacturing and promotional industry; and designs and manufactures apparel under private labels. In addition, it supplies wardrobe, as well as promotional and cast and crew items for feature films and television. Further, Sew Cal Logo owns the rights to a branded line of surf and sports wear items known as Pipeline Posse, which it sells primarily through the Internet. It sells its products to motion picture and television studios, retailers, local schools, shops, and small businesses. The company was founded in 1985 and is based in Los Angeles, California.

 

SEWC News:

 

June 9 - Sew Cal Logo Reports Earnings

 

Visit http://bit.ly/J53U9 to view the most recent quarterly financial report for Sew Cal Logo Inc. (OTCBB: SEWC).

 

CIRTRAN CORPORATION (OTCBB: CIRC)

"Up 6.90% in morning trading"

 

Detailed Quote: http://www.otcpicks.com/quotes/CIRC.php

 

Founded in 1993, CirTran Corporation has evolved from its roots as a premier international, full-service contract manufacturer. From its headquarters in Salt Lake City, where it operates along with its Racore Technology electronics manufacturing subsidiary from an ISO 9001:2000-certified facility, CirTran has grown in scope and geography. Today, CirTran’s operations include: CirTran-Asia, a subsidiary with principal offices in ShenZhen, China, which manufactures high-volume electronics, fitness equipment, and household products for the multi-billion-dollar direct response industry; CirTran Online, which offers products directly to consumers through major retail web sites, and CirTran Beverage, which has partnered with Play Beverages, LLC to introduce and distribute the Playboy Energy Drink.

 

CIRC News:

 

June 1 - CirTran Opens Door to Eastern Europe for Playboy Energy Drink With 5-Year Distribution Agreement in Albania

 

CirTran Corporation (OTCBB: CIRC) announced that it has again added to the international distribution of the new line of Playboy-branded energy drinks it manufactures and distributes, signing a five-year agreement giving rights in Albania to the Tobacco Holding Group Sh.p.k, an Albanian company based in Tirana.

 

Under the terms of the agreement, the Tobacco Holding Group gains exclusive rights to distribute Playboy Energy Drink in Albania. Concurrent with signing the agreement, Tobacco Holding placed and paid for an initial order with CirTran Beverage Corp, a wholly-owned subsidiary of CirTran Corporation which spearheads the manufacture and distribution of Playboy Energy Drink and Playboy Energy Drink Low Sugar.

 

Playboy Energy Drink was formally introduced in the U.S. by CirTran a year ago, and is gaining in its popularity in the U.S. and abroad, said Iehab J. Hawatmeh, founder, president and CEO of CirTran.

 

Opening the Door to Eastern Europe

 

Mr. Hawatmeh said that the signing of the agreement with the Tobacco Holding Group “opens the door to Eastern Europe for our exciting new product.” He said that approval for distribution in Albania has already been gained, and that product has been shipped.

 

“CirTran is very excited about how our Playboy Energy Drink has been received in the U.S. and around the world,” Mr. Hawatmeh said, noting that late last year CirTran signed a 10-year agreement in Mexico.

 

“Consumers, retailers and the beverage distribution community around the world have shown great interest in the Playboy Energy Drink,” he said. “And now, with the door open to Eastern Europe, CirTran will be working to increase distribution in marketplaces where the Playboy name is already well known.”

 

Lirim Fezollari, managing director of the Tobacco Holding Group, said his company “is very excited about bringing this great brand and product to our country. We are confident of its immediate popularity,” he said.

 

CHINA GRENTECH CORPORATION LIMITED (NASDAQ: GRRF)

"Up 40.54% in morning trading"

 

Detailed Quote: http://www.otcpicks.com/quotes/GRRF.php

 

GrenTech is a leading developer of radio frequency ("RF") technology in China and a leading provider of wireless coverage products and services in China. The Company uses RF technology to design and manufacture wireless coverage products, which enable telecommunication operators to expand the reach of their wireless communication networks to indoor and outdoor areas, such as buildings, highways, railways, tunnels and remote regions. GrenTech's wireless coverage services include design, installation and project warranty services. The Company also tailors the design and configuration of its wireless coverage products to the specific requirements of its customers. Based on its in-house RF technology platform, the Company also develops and produces base station RF parts and components sold to base station manufacturers. GrenTech is a qualified supplier of RF parts and components to the global and domestic major base station manufacturers including Huawei Technologies and ZTE Corporation.

 

GRRF News:

 

August 13 - China GrenTech Corporation Limited Announces Second Quarter 2009 Results

 

Total revenue increased by 127.1%; gross profit increased by 70.4% Positive Operating income and net income

 

China GrenTech Corporation Limited (Nasdaq: GRRF) ("the Company" or "GrenTech"), a leading China-based radio frequency ("RF") technology and product developer and a leading wireless coverage products and services provider, today announced its unaudited financial results for the second quarter ended June 30, 2009.

 

Second Quarter 2009 Financial Highlights:

 

* Total revenue increased by 127.1% year-over-year to RMB423.2 million (US$62.0 million). (1)

* Revenue from wireless coverage products and services increased by 116.7% year-over-year to RMB340.4 million (US$49.8 million).

* Revenue from base station RF products increased by 182.9% year-over-year to RMB82.9 million (US$12.1 million).

* Gross profit increased by 70.4% year-over-year to RMB105.9 million (US$15.5 million).

* Operating income was RMB29.6 million (US$4.3 million), compared to operating loss of RMB4.9 million in the second quarter 2008.

* Net income attributable to the equity shareholders of GrenTech was RMB13.3 million (US$2.0 million), compared to net loss attributable to the equity shareholders of GrenTech of RMB17.0 million in the second quarter 2008.

* Basic and diluted net income per ADS (2) was RMB0.56 (US$0.08).

 

(1) The Company's reporting currency is Renminbi ("RMB"). The translation of amounts from RMB to United States dollars is solely for the convenience of the reader. RMB numbers included in this press release have been translated into U.S. dollars at the noon buying rate for U.S. Dollars in effect on June 30, 2009 in the City of New York for cable transfers in RMB per U.S. dollar as certified for customs purposes by the Federal Reserve Bank of New York, which was US$1.00 = RMB6.8302. No representation is made that RMB amounts could have been, or could be, converted into U.S. Dollars at that rate or at any other rate on June 30, 2009.

 

(2) Each ADS represents 25 of our ordinary shares.

 

Mr. Yingjie Gao, Chairman and Chief Executive Officer of GrenTech, commented, "During the past quarter, one of the key drivers of our growth was the strong demand from all three telecommunications operators in China as they need to upgrade their existing wireless coverage systems to simultaneously support both 2G and 3G networks. As a result, our total revenue in the second quarter grew by 127.1% over the same period last year, resulting in the strongest second quarter in our history from a revenue perspective. Revenue from China Unicom was particularly robust as demand was bolstered by the quick pace of the operator's network coverage construction. We believe that with our leading position in the market and our long-term relationship with China Unicom, we have been able to capture this growth opportunity and our revenue from China Unicom increased by 325.6% over the same period last year. I am very pleased that our strategy to drive rapid revenue growth and implement more stringent cost control measures has again successfully delivered a quarter of positive results."

 

Second Quarter 2009 Unaudited Financial Results:

 

Revenue

 

Revenue for the second quarter 2009 increased by RMB236.9 million (US$34.7 million), or 127.1%, to RMB423.2 million (US$62.0 million) from RMB186.3 million in the second quarter 2008. Revenue from wireless coverage products and services increased year-over-year by RMB183.3 million (US$26.8 million), or 116.7%, to RMB340.4 million (US$49.8 million), primarily due to increased revenue from all three telecommunications operators in China. Revenue from China Unicom increased by RMB130.0 million (US$19.0 million) and revenue from China Mobile and China Telecom increased by RMB15.9 million (US$2.3 million) and RMB48.4 million (US$7.1 million), respectively. At the same time, revenue from base station RF products increased year-over-year by RMB53.6 million (US$7.8 million), or 182.9%, to RMB82.9 million (US$12.1 million), primarily as a result of 3G network construction in China.

 

Cost of Revenue

 

Cost of revenue in the second quarter 2009 increased by RMB193.1 million (US$28.3 million), or 155.5%, to RMB317.3 million (US$46.5 million) from RMB124.2 million in the second quarter 2008, primarily due to a higher sales volume.

 

Operating Expenses

 

Research and development expenses decreased by RMB5.3 million (US$0.8 million), or 29.5%, to RMB12.6 million (US$1.8 million) from RMB17.8 million in the second quarter 2008. After the Company's large initial investment in research and development for 3G products over the last year, the outcome of which is now part of the Company's existing product offering, research and development expenses in this quarter were reduced.

 

Sales and distribution expenses increased by RMB13.7 million (US$2.0 million), or 44.1%, to RMB44.7 million (US$6.5 million) from RMB31.0 million in the second quarter 2008, primarily as a result of an increase in sales activities and distribution expenses driven by the increased sales volume. An increase in bonus payments for sales and marketing employees has also contributed to the year-over-year increase. However, as percentage of revenue, sales and distribution expenses decreased to 10.6% from 16.6% in the second quarter 2008.

 

General and administrative expenses increased by RMB0.8 million (US$0.1 million), or 4.3%, to RMB19.0 million (US$2.8 million) from RMB18.2 million in the second quarter 2008. The year-over-year increase was primarily driven by a share-based compensation expense related to the granting of the Company's share options to the Group's employees and directors in March 2008 and December 2008, and was partially offset by decrease in most of the Company's other expense items.

 

Accordingly, total operating expenses increased by RMB9.2 million (US$1.4 million), or 13.8%, to RMB76.3 million (US$11.2 million) from RMB67.1 million in the second quarter 2008.

 

Other Expense/Income

 

Interest income increased by RMB3.2 million (US$0.5 million), or 67.6%, to RMB8.0 million (US$1.2 million) from RMB4.8 million in the second quarter 2008, primarily due to an increase in interest income related to long-term accounts receivable.

 

Interest expense remained relatively stable year-over-year.

 

Foreign currency exchange loss decreased by RMB2.2 million (US$0.3 million), or 76.8%, to RMB0.7 million (US$0.1 million) from RMB2.9 million in the second quarter 2008, primarily due to the relatively stable RMB to U.S. dollar exchange rate and a reduction in U.S. dollar-denominated deposits.

 

Accordingly, total other expense decreased by RMB6.1 million (US$0.9 million), or 50.9%, to RMB5.9 million (US$0.9 million) from RMB12.0 million in the second quarter 2008.

 

Earnings

 

Gross profit increased by RMB43.8 million (US$6.4 million), or 70.4%, to RMB105.9 million (US$15.5 million) from RMB62.1 million in the second quarter 2008, primarily due to the significant increase in total revenue.

 

Gross margin decreased to 25.0% in the second quarter 2009 from 33.3% in the same period last year, primarily due to a decrease in the average selling price of wireless coverage equipment and the increased revenue contribution from base station RF products which have a lower gross margin.

 

Operating income was RMB29.6 million (US$4.3 million) in the second quarter 2009, compared to an operating loss of RMB4.9 million in the second quarter 2008.

 

Net income attributable to the equity shareholders of GrenTech was RMB13.3 million (US$2.0 million) in the second quarter 2009, compared to a net loss attributable to the equity shareholders of GrenTech of RMB17.0 million in the second quarter 2008.

 

Diluted net income per ADS was RMB0.56 (US$0.08) in the second quarter 2009.

 

Balance Sheet

 

Cash, cash equivalents and pledged time deposits decreased by RMB83.6 million (US$12.2 million), or 20.1%, to RMB332.1 million (US$48.6 million) from RMB415.7 million as of December 31, 2008, primarily attributable to working capital outflow for raw material purchases to meet increased sales demand and operating overhead.

 

Total accounts receivable increased by RMB237.6 million (US$34.8 million), or 18.6%, to RMB1,517.1 million (US$222.1 million) from RMB1,279.5 million as of December 31, 2008, primarily because the majority of sales generated in the second quarter 2009 have not yet entered into the collection period.

 

Inventories increased by RMB296.7 million (US$43.4 million), or 57.0%, to RMB817.3 million (US$119.7 million) from RMB520.6 million as of December 31, 2008, primarily due to increased raw material purchases to meet forthcoming sales orders and a higher level of finished goods that were installed in customer sites but have not yet been recognized as revenue as completion certificates have not been received.

 

Total assets increased by RMB495.3 million (US$72.5 million), or 17.4%, to RMB3,334.2 million (US$488.2 million) from RMB2,839.0 million as of December 31, 2008, primarily due to increases in inventory and total accounts receivable.

 

Total liabilities increased by RMB479.6 million (US$70.2 million), or 34.2%, to RMB1,881.0 million (US$275.4 million) from RMB1,401.4 million as of December 31, 2008. Current liabilities increased by RMB499.7 million (US$73.2 million), or 39.4%, to RMB1,766.3 million (US$258.6 million) from RMB1,266.6 million as of December 31, 2008. The increase in liabilities was primarily due to an increase of RMB397.5 million (US$58.2 million) in accounts payable for the purchase of raw materials, and an increase of RMB80.7 million (US$11.8 million) in short-term bank loans.

 

GENTA INCORPORATED (OTCBB: GETA)

"Up 9.09% in morning trading"

 

Detailed Quote: http://www.otcpicks.com/quotes/GETA.php

 

Genta Incorporated is a biopharmaceutical company with a diversified product portfolio that is focused on delivering innovative products for the treatment of patients with cancer. Two major programs anchor the Company’s research platform: DNA/RNA-based Medicines and Small Molecules. Genasense® (oblimersen sodium) Injection is the Company's lead compound from its DNA/RNA Medicines program. The leading drug in Genta’s Small Molecule program is Ganite® (gallium nitrate injection), which the Company is exclusively marketing in the U.S. for treatment of symptomatic patients with cancer related hypercalcemia that is resistant to hydration. The Company has developed G4544, an oral formulation of the active ingredient in Ganite, which has recently entered clinical trials as a potential treatment for diseases associated with accelerated bone loss. The Company is also developing tesetaxel, a novel, orally absorbed, semi-synthetic taxane that is in the same class of drugs as paclitaxel and docetaxel. Ganite and Genasense are available on a “named-patient” basis in countries outside the United States.

 

GETA News:

 

August 14 - Genta Incorporated Announces Second Quarter 2009 Financial Results

 

* AGENDA Phase 3 trial in melanoma passes post-accrual futility analysis

* AGENDA results expected Fourth Quarter 2009

* Genasense in novel combination shows promising activity in melanoma

* Genasense® 1-hour infusion initiated in melanoma

* Additional core patents issued for Genasense®

* Tesetaxel trial shows early efficacy and safety

 

Genta Incorporated (OTCBB: GETA) announced financial results for the quarter ended June 30, 2009.

 

“The last several months have been extraordinarily important”, said Dr. Raymond P. Warrell, Jr., Genta’s Chief Executive Officer. “We now believe we will have sufficient financing that will enable release of primary data in our Phase 3 Genasense® trial in melanoma. Certainly, past and recent studies of other drugs in melanoma have proved repeatedly disappointing. We believe our biomarker-directed approach, coupled with our uniquely targeted new drug, may transform the treatment of this illness and finally offer meaningful benefit for patients. We expect to release results from our Phase 3 study within the next 3 months, which if positive should comprise the basis for worldwide regulatory applications.”

 

Genta management will host a conference call and live audio webcast to discuss the Company’s financial results and recent corporate activities today at 8:00 am EST. Participants can access the live call by dialing (877) 634-8606 (U.S. and Canada) or (973) 200-3973 (International). The access code for the live call is Genta Incorporated. The call will also be webcast live at http:www.genta.com/investorrelation/events.html.

 

For investors unable to participate in the live call, a replay will be available approximately two hours after the completion of the call, and will be archived for 30 days. Access numbers for this replay are: (800) 642-1687 (U.S. and Canada) and (706) 645-9291 (International); conference ID number is: 22633873.

 

Highlights of the preceding quarter ended June 30, 2009 included the following:

 

AGENDA: Phase 3 Trial of Genasense in Advanced Melanoma

 

AGENDA is a Phase 3, randomized, double-blind trial that has completed accrual of 315 patients with advanced melanoma. The study is designed to confirm certain safety and efficacy results from a prior randomized trial of Genasense® (oblimersen sodium) Injection combined with dacarbazine. AGENDA employs a biomarker to define patients who derived maximum benefit during the preceding study. Such patients are characterized by low-normal levels of lactate dehydrogenase (LDH), a tumor-derived enzyme that is readily detected in blood.

 

During the prior quarter, the Company released demographic information that showed good concordance of relevant patient characteristics between the prior trial and AGENDA. Moreover, the importance of LDH levels as a key factor associated with survival in advanced melanoma was independently confirmed by a publication from the leading European oncology cooperative group. An independent data monitoring committee completed its post-accrual analysis for safety and futility, and has recommended that AGENDA continue to completion.

 

Genasense Plus Novel Chemotherapy Yields Promising Activity in Melanoma

 

At the annual meeting of the American Society of Clinical Oncology (ASCO) in June 2009, investigators reported a high response rate and potentially extended survival in a pilot study of Genasense plus temozolomide and Abraxane® (paclitaxel protein-bound particles for injectable suspension) (albumen bound). Of 18 patients with stage 4 melanoma and normal LDH, 7 (39%) had achieved major responses: one with complete response (CR) and 6 with partial response. Five other patients had maintained stable disease (SD) after at least 3 treatment cycles for a disease control rate of 68%. The most common side-effects were similar to those associated with the chemotherapy drugs used alone. Median survival was 14.7 months and 50% of patients had survived longer than 1 year. These data compared favorably with median survival reported in the prior Phase 3 trial of Genasense in melanoma with similar LDH criteria for dacarbazine alone (9.7 months) or dacarbazine plus Genasense (11.4 months).

 

This trial has recently been amended to incorporate the new 1-hour IV infusion schedule of Genasense administered twice weekly, instead of the 5-day continuous IV infusion schedule used in the Phase 3 trials. Initial results are expected in the Fourth Quarter 2009.

 

Genasense Market Protection Expected to Extend up to 10 Years from Launch

 

Assuming AGENDA results are both positive and sufficient to secure approval in Europe and the U.S., Genta currently expects to hold exclusive marketing positions for up to 10 years from potential anticipated launch dates. In the U.S., the Company expects to file for extensions of its core composition patent up to the maximum allowable times pursuant to Hatch-Waxman legislation. The Company has also filed and/or received patents or patent applications that are expected to raise additional barriers to entry for generic competitors. In addition to these patents, the Company expects to receive up to 10 years of market protection pursuant to applicable rules in Europe for new chemical entrants.

 

Tesetaxel Dosing Trial Confirms Preliminary Efficacy and Safety

 

Tesetaxel, the leading oral taxane in clinical development, is completing a confirmatory study of dosing on a once every 3-weeks schedule. Data presented at ASCO showed a favorable safety profile with a low incidence of serious adverse events, along with objective responses that have been observed at less than the maximally tolerated dose. The trial is expected to conclude accrual in the third quarter of 2009. Genta intends to explore additional dosing schedules while examining efficacy in diseases that are prioritized in the Company’s clinical development plan.

 

Financial Information

 

For the second quarter of 2009, the Company reported a net loss of $43.1 million or $(0.63) per share, compared with a net loss of $738.4 million, or $(1,004.84) per share, for the second quarter of 2008. For the six months ended June 30, 2009, the Company reported a net loss of $54.1 million, or $(1.24) per share, compared with a net loss of $748.0 million, or ($1,060.69) per share, for the six months ended June 30, 2008. Net product sales of $69,000 and $131,000 for the second quarter and six months ended June 30, 2009 declined from their comparison period figures of $131,000 and $248,000, respectively, due to the continued absence of promotional support.

 

In June 2008 and in April 2009, the Company entered into convertible note and warrant transactions (described below). At the time of both transactions, the Company did not have sufficient authorized shares to allow for the conversion of the convertible notes and related warrants. The June 2008 transaction required that the Company seek stockholder approval to increase the number of authorized shares of common stock. The April 2009 transaction required that the Company effect a reverse stock split in order to accommodate the required number of shares. While the Company’s stockholders approved an increase in the number of authorized shares of common stock in October 2008 and authorized a reverse stock split in April 2009, the results that are being reported today reflect that the Company was required to mark-to-market the liabilities for the conversion feature of its notes and warrants issued as part of the transactions up until the Company’s stockholders approved the changes in the corporate structure. These liabilities change with the price of Genta’s common stock, and these fluctuations have caused us to report significant expense in both reporting periods. All share and per share data included in this press release have been retroactively adjusted to account for the effect of a 1-for-50 reverse stock split for all periods presented prior to June 26, 2009.

 

Research and development expenses were $3.7 million for the second quarter of 2009, compared with $4.5 million for the second quarter of 2008. Expenses in 2009 declined primarily due to lower expenses on the AGENDA clinical trial and lower payroll costs, resulting from lower headcount as we reduced our workforce in April 2008 and May 2008 to conserve cash. Research and development expenses were $6.0 million for the six months ended June 30, 2009, compared with $10.9 million for the six months ended June 30, 2008. In March 2008, we entered into a worldwide license agreement for tesetaxel. Pursuant to this agreement, we recognized $2.5 million for license payments. Expenses in 2009 also declined primarily due to lower payroll costs, resulting from lower headcount, as well as lower expenses on the AGENDA clinical trial.

 

Selling, general and administrative expenses were $2.0 million for the second quarter of 2009 and $4.1 million for the six months ended June 30, 2009, compared with $2.6 million for the second quarter of 2008 and $6.2 million for the six months ended June 30, 2008. These decreases were primarily due to lower office rent, resulting from our termination of a lease for one floor of office space in May 2008 and lower payroll costs, resulting from the two reductions in workforce. In May 2008, to reduce its ongoing expenses, the Company reduced its office space. The Company’s landlord received a termination payment of $1.3 million, comprised of security deposits, and will receive a future payment of $2.0 million on January 1, 2011. This agreement resulted in an incremental $3.3 million in expenses for the second quarter and six months ended June 30, 2008.

 

On April 2, 2009, the Company issued approximately $6 million of April 2009 Notes, and corresponding warrants to purchase common stock, issued our private placement agent a warrant and incurred financing fees of $0.7 million. The April 2009 Notes bear interest at an annual rate of 8% payable semi-annually in other senior secured convertible promissory notes to the holder, and are convertible into shares of the Company’s common stock at a conversion rate of 10,000 shares of common stock for every $1,000.00 of principal amount outstanding. The deferred financing costs are being amortized over the term of the convertible notes. At the time the April 2009 Notes were issued, the Company recorded a debt discount (beneficial conversion) relating to the conversion feature in the amount equal to the proceeds of $6.0 million and is amortizing the resultant debt discount over the term of the notes through their maturity date.

 

On June 9, 2008, the Company issued $20 million of 2008 Notes, issued our private placement agent a warrant and incurred financing fees of $1.2 million. The 2008 Notes bear interest at an annual rate of 15% payable at quarterly intervals in notes of equivalent terms, and are presently convertible into shares of Genta common stock at a conversion rate of 10,000 shares of common stock for every $1,000 of principal. The deferred financing costs are being amortized over the term of the convertible notes. At the time the notes were issued, the Company recorded a debt discount (beneficial conversion) relating to the conversion feature in the amount of $20.0 million and is amortizing the resultant debt discount over the term of the notes through their maturity date.

 

On April 2, 2009, based upon a Black-Scholes valuation model, the Company calculated a fair value of the conversion feature of the April 2009 Notes of $67.8 million and expensed $61.8 million, the amount that exceeded the proceeds of the $6.0 million from the closing. With implementation of the reverse stock split, the Company had sufficient shares of common stock in order to permit conversion of all the April 2009 Notes. The Company re-measured the conversion feature liability at $25.0 million, resulting in expense for the second quarter of 2009 of $19.0 million and credited the conversion feature liability to permanent equity. On June 9, 2008, based upon a Black-Scholes valuation model, the Company had calculated a fair value of the conversion feature of the 2008 Notes of $380.0 million and expensed $360.0 million, the amount that exceeded the proceeds of the $20.0 million from the closing. On June 30, 2008, the Company expensed an additional $380.0 million to mark the conversion feature liability of the June 2008 Note to market, resulting in a total expense in June 2008 of $720.0 million.

 

The warrants that were issued with the 2008 Notes and the April 2009 Notes were also treated as liabilities, due to the insufficient number of authorized shares of common stock at the time that they were issued. On April 2, 2009, the Company calculated a fair value of $1.125 per warrant for the warrants issued with the April 2009 Notes, or a total of $20.8 million. With the reverse stock split, the Company re-measured the warrants at a fair value per warrant of $0.415 per warrant, or $7.7 million, resulting in expense of $7.7 million, and credited the warrant liability to permanent equity. The warrants issued with the 2008 Notes were initially recorded at a fair value of $7.6 million and were also re-measured, resulting in expense of $7.2 million in June 2008.

 

At June 30, 2009, Genta had cash and cash equivalents totaling $0.7 million compared with $4.9 million at December 31, 2008. During the first six months of 2009, cash used in operating activities was $9.5 million compared with $14.4 million for the same period in 2008, reflecting the reduced size of the Company.

 

On July 7, 2009, the Company entered into a securities purchase agreement with certain accredited institutional investors to place up to $10 million in aggregate principal amount of units consisting of (i) 70% unsecured subordinated convertible notes, or the July 2009 Notes, and (ii) 30% common stock. In connection with the sale of the units, the Company also issued to the investors two-year warrants to purchase common stock in an amount equal to 25% of the number of shares of common stock issuable upon conversion of the July 2009 Notes purchased by each investor. The Company closed on $3 million of such July 2009 Notes, common stock and warrants on July 7, 2009. On August 6, 2009, we entered into an amendment whereby, among other matters, certain accredited institutional investors who were parties to the July 2009 securities purchase agreement agreed to purchase $10 million of additional notes and warrants having the same terms of the July 2009 Notes, as well as shares of common stock, increasing their aggregate investment to $13 million. The terms of the April 2009 Notes enable those noteholders, at their option, to purchase additional notes with similar terms.

 

SYNDICATION INCORPORATED (OTC: SYNJ)

"Up 12.00% in morning trading"

 

Detailed Quote: http://www.otcpicks.com/quotes/SYNJ.php

 

Syndication, Inc., a development stage company, operates as a consulting company in the United States. It acquires controlling interests in or to participate in the creation of, and to provide financial, management, and technical support to development stage businesses, e-commerce businesses, and traditional brick-and-mortar businesses. The company assists target companies in various areas, including the development and implementation of business models to provide solutions to traditional companies; building corporate infrastructure, such as a management team, a qualified sales and marketing department, information technology, and finance and business development; and managing rapid growth and flexibility to adopt to the changing Internet marketplace and technology. It also assists target companies in evaluating, structuring, and negotiating joint ventures, strategic alliances, joint marketing agreements and other corporate transactions; and by providing advice relating to corporate finance, financial reporting, and accounting operations. Syndication, through its subsidiary, Sy-Med Decompression, Inc., provides non-surgical treatment option for patients with back pain due to lumbar disc herniation, degenerative disc disease, sciatica, facet syndrome, and spinal stenosis. The company, formerly known as Syndication Net.com, Inc., was founded in 1999 and is headquartered in Washington, D.C.

 

SYNJ News:

 

August 6 - Syndication Inc. CEO asked Board of Directors to Vote on Share Dividend

 

Syndication Inc. (OTC: SYNJ) reports that McCutcheon Marshall Jr., President and Chairman of the Board for Pinnacle Energy Inc., the wholly owned energy subsidiary of Syndication Inc., launched phase 1; Bio-Diesel, of the Sentinel Renewable Energy program in South Carolina, (Sentinel Renewable Energies S.C. Inc.). The Company reports that the launch of the South Carolina 75,000 square foot Bio-Diesel facility is the first phase of a 3 phased commitment which includes wind and solar and was originally entered into as an LOI between the Companies 4 months ago in late March of this year.

 

The Officers, Directors, and Advisory Board of SRE S.C. Inc., include: McCutcheon Marshall Jr. as the President and Chairman of the Board, Brian Sorrentino as the CEO, Mark Solomon as the Executive Vice President, Howard Siegel as the Secretary, and Mrutyunjaya Chittavajhulas as the Chief Financial Officer & Treasurer. The Advisory Board includes: Member Perichyappan Senthilnathan, Member Kabir Ratnani and Member Nicholas Ng. As a point of legal disclosure SRE S.C. is in a contractual relationship and/or shares advisory board members with Methes Energies Canada Inc. Methes Energies is located in the Mississauga Province of Ontario, Canada and is in the business of developing, marketing and selling turnkey continuous flow bio-diesel processor systems named "the Denami 600," and Sun Si Inc., a TCS production and shipping Corporation located in Zibo, China and is engaged in the solar power energy industry.

 

When asked to comment on the merger Marshall Jr. said, "The only specific comment I have on the merger, is that I think it's great. It has allowed us to accelerate the developments of the Company and achieve goals much faster then we originally anticipated. However, as far as I understand, it was done some time ago. It's the corporate policy style to let internal developments of the Company season a bit before releasing news. Corporate structure is the responsibility of Mr. Sorrentino the CEO of Pinnacle/SRE S.C. and Syndication. My responsibility is to manage the federal, state, and local financing that we are currently engaged in as well as overseeing the general implementation of the Company's business plan. Over the last 4 months we have engaged in supply contracts, 'Cost Plus' off take agreements for 90% of our bio-diesel production with private, government and military agencies, warehouse and land purchases, local trucking and transportation, local S.C. live and dry farming industry, and most importantly the grant study requirement relationships with major South Carolina collagen institutions, all of which, for strategic purposes, Mr. Sorrentino wishes I not name at this time. As the legal department becomes comfortable it will allow me to release the details of these relationships, including the financing, but, not before," said Marshall Jr., President of Sentinel Renewable Energies S.C. Inc.

 

When Mr. Sorrentino, the CEO of Syndication was asked to comment on the merger he stated, "Mac has assembled a 'World Class Team,' why is anyone surprised? We are equipped with every tool needed to succeed. The technical, financial, (federal, state, private and public), legal, and political (Senators, Congressmen, Governors) pieces are on board. Mac moves fast. In just 4 short months he has launched the Bio-Diesel Phase of the program and has me working on Phase 2. It seems T Boone has a bunch of wind turbines with no homes and his garage is too small to store them. As the Appointed Co-Representatives of Maryland's 6th District of the Pickens Energy Project, can you see what Mac and I see? We might be able to find homes for a few of them," said Sorrentino, CEO of Syndication Inc.

 

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