Our Stocks to Watch today include Muscle Flex Inc. (OTC: MFLI), NavStar Technologies Inc. (OTC: NVSR), EV Innovations Inc. (OTCBB: EVII), Green Star Alternative Energy Inc. (OTC: GSAE), SGD Holdings Ltd. (OTC: SGDH), Sinclair Broadcast Group Inc. (Nasdaq: SBGI), Nitro Petroleum Inc. (OTCBB: NTRO), Rentech Inc. (Amex: RTK), SIRIUS XM Radio Inc. (Nasdaq: SIRI), Entravision Communications Corp. (NYSE: EVC) and MultiCell Technologies Inc. (OTCBB: MCET).
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MUSCLE FLEX INCORPORATED (OTC: MFLI)
"Up 18.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/MFLI.php
Company Profile: http://www.otcpicks.com/muscle-flex-inc.htm
Muscle Flex Inc. brings new products to market using direct response TV infomercials specializing in the health, fitness, wellness and hygiene sectors. As well, Muscle Flex Inc. develops and creates general television content for network and cable television distribution. Muscle Flex's corporate strategy is to develop new and innovative products for sale and distribution via its proprietary direct response marketing system and the creation of television media and shows for general network and cable broadcast.
MFLI News:
August 20 - Muscle Flex Inc. Prepares for The BUDDY Tablet Caddy™ September 2009 Infomercial Launch and Provides a Complete BUDDY™ Update
Muscle Flex Inc. (OTC: MFLI) announced that it is preparing for the September 2009 infomercial launch for The BUDDY Tablet Caddy and is providing a detailed update as to its release.
Muscle Flex Inc. is in the final stages of script development for The BUDDY Tablet Caddy short form infomercial (60 and 120 seconds) and anticipates the filming to occur during the first or second week of September. Preparations for the initial TV media campaign for The BUDDY are currently being formulated. The initial test of The BUDDY Tablet Caddy infomercial shall be run in a number of different markets and focus on those that are best suited from a demographic and geographic perspective. It is expected to run for 2-4 weeks and provide sales data that will allow Muscle Flex Inc. to determine what and if any adjustments are to be made.
On August 18, 2009, Muscle Flex Inc. announced that Danny Sarnoff, grandson to the legendary and "father of television" David Sarnoff, will be working with the company in directing and producing The BUDDY infomercial from script right to screen. To date, the scripting, filming and preparations for The BUDDY infomercial have been beyond expectations. Muscle Flex Inc. and Danny Sarnoff anticipate additional projects between them as The Buddy Tablet Caddy project nears completion and a successful launch is orchestrated.
Muscle Flex Inc. is anticipating strong sales numbers for The BUDDY Tablet Caddy. Muscle Flex Inc.'s initial informal research study of The BUDDY Tablet Caddy employed a series of questions designed to determine the potential response from a diverse range and random sample of consumers. The results were exceedingly positive in that the majority of people surveyed said they would purchase The BUDDY Tablet Caddy as a TV product offering. The results skewed even more favorably when the full "As Seen on TV" BUDDY Tablet Caddy offer was told to them at the conclusion of the survey resulting in excess of an 87% favorable purchase rating.
August 19 - Muscle Flex Inc. Prepares to Release Details on Two Additional 'As Seen on TV' Product Releases
Muscle Flex Inc. (OTC: MFLI) announced that it is preparing to release details on its second value priced "As Seen on TV" product. This second direct response low cost product release is scheduled to hit national TV after The BUDDY Tablet Caddy™ release in September 2009. The second "As Seen on TV" product is a "Lifestyle & Beauty" device that is to be released in late 2009. Additionally, Muscle Flex Inc. is preparing to add what it describes as a "flagship" product line. Details are being finalized on the newest Muscle Flex flagship product that Muscle Flex Inc. expects will form part of its core direct response product offerings.
"We are moving quickly to release our first three 'As Seen on TV' value products. The BUDDY Tablet Caddy is the first of these three and we are very close to releasing details on our second," commented Danny Alex, CEO of Muscle Flex Inc. "Even more exciting is the new flagship product line that Muscle Flex Inc. expects will form an integral part of its core product offerings. This product line will be delivered in a full 30 minute infomercial format and will showcase the exciting types of products Muscle Flex Inc. is bringing to market."
NAVSTAR TECHNOLOGIES INCORPORATED (OTC: NVSR)
"Up 5.13% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/NVSR.php
Company Profile: http://www.otcpicks.com/navstar-technologies/navstar-technologies.htm
NavStar is focused on the creation of GPS products and services that provide wireless tracking of vehicles, equipment, and other valuable and personal assets. The goal is to be a total solutions provider.
NVSR News:
August 20 - NavStar to Reward Loyal Shareholders
NavStar Technologies, Inc. (OTC: NVSR), a multinational firm focused on developing and commercializing asset tracking and monitoring devices for vehicles and high value cargo, announced that discussions are underway to consider a possible stock dividend to shareholders.
According to the company, this action is being taken to acknowledge the continued success in reaching distribution agreements with partners in Mexico, Ecuador, Japan, US and Korea and for the loyal support and patience of shareholders. The share price of the company has recently increased to reflect these achievements and plans are underway to issue a stock dividend to shareholders. The board of directors will provide an update to shareholders within days on the results of these discussions.
EV INNOVATIONS INCORPORATIONS (OTCBB: EVII)
Detailed Quote: http://www.otcpicks.com/quotes/EVII.php
Company Profile: http://www.otcpicks.com/ev-innovations.htm
EV Innovations, Inc. engages in the development and marketing of electric powered vehicles and products primarily in the United States. It involves in developing the portable battery power pack technology and effecting vehicle conversions from conventional power systems to electric power systems. It also converts various large and small ATV's, electric bicycles, and electric scooters. The company was formerly known as Hybrid Technologies, Inc. and changed its name to EV Innovations, Inc. in February 2009. EV Innovations, Inc. was founded in 2000 and is based in Las Vegas, Nevada.
EVII News:
August 12 - EV Innovations Inc. Congratulates GM for Being the SECOND Company to Break the Triple Mileage Barrier
EV Innovations Inc. (OTCBB: EVII), a 21st Century Design & Engineering of emission-free automotive propulsion systems using the latest lithium battery technology, congratulates GM on being the SECOND company to break the Triple Mileage Barrier. According to Ron Cerven, Chief Engineer, "It is great to see a big player like GM following in our footsteps and breaking the Triple Mileage Barrier."
EV Innovations became the first company to get over 100 MPG when on June 17th 2009, the 2010 LiV Wise achieved 211 miles, actually driven on one single charge. EVII's Director of Government Sales, Holly J. Armstrong, said that she is "certain that having a production Plug In EV that gets over 200 actual driving miles on a single charge, has to be the reason why EV Innovations is the current sole bidder on the upcoming 2010-2015 Government contracts for electric vehicles."
EVII continues to lead the industry in both technology and business modeling. In some instances, the LiV Wise is the only NHTSA compliant, highway capable sedan available for purchase or lease on Federal, State and Local levels. EVII is organizing up for maximum production, as it estimates over 10,000 LiV Wise models will be purchased or leased by the various government agencies.
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.
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 18 - SGD Holdings, Ltd. Subsidiary Ecopaper, Inc. Co-Develops Post Consumer Toilet Paper With Latin America
SGD Holdings, Ltd. (OTC: SGDH) announced that its wholly-owned subsidiary Ecopaper, Inc. has entered into an exclusive manufacturing agreement with a Latin American paper producer. Ecopaper co-developed a 100% post consumer toilet paper that has no harmful environmental effluents.
SGD Holdings, Ltd. anticipates a U.S. distribution agreement within the next 30 days.
"This is primarily a large institutional market for our eco-friendly toilet paper. We fully expect significant sales from large institutional purchasers like universities, municipalities and janitorial supply companies," stated Harry Johansing, CEO of SGD Holdings, Ltd.
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 is 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 positively impact the environment.
SINCLAIR BROADCAST GROUP INCORPORATED (NASDAQ: SBGI)
"Up 33.95% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/SBGI.php
Sinclair Broadcast Group, Inc., one of the largest and most diversified television broadcasting companies, currently owns and operates, programs or provides sales services to 58 television stations in 35 markets. Sinclair's television group reaches approximately 22% of U.S. television households and includes FOX, ABC, CBS, NBC, MNT and CW affiliates.
SBGI News:
August 20 - Sinclair Reaches Tentative Agreement with the Ad Hoc Committee of Certain Holders of Its 3.0% and 4.875% Convertible Notes
On August 10, 2009, Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) and its advisors met with members of the ad hoc committee (the "Committee") formed by certain holders of its 3.0% and 4.875% Convertible Senior Notes (together, the "Convertible Notes") and with their advisors. The Committee consists of holders of approximately 50% of the outstanding principal amount of the Convertible Notes. The holders of the 3.0% and 4.875% Convertible Notes are entitled to require the Company to repurchase such Convertible Notes at 100% of their principal amount in May 2010 and January 2011, respectively. Approximately $294.3 million of the 3.0% Convertible Notes and $143.5 million of the 4.875% Convertible Notes are currently outstanding.
At the meeting, the Company and the Committee reached a tentative agreement in principle with respect to the Convertible Notes.
Pursuant to that agreement in principle, the Company's wholly owned subsidiary, Sinclair Television Group (STG), would complete a private placement of debt securities. The new debt securities (the "Second Lien Notes") would mature in 2014, be guaranteed by the Company and certain of the Company's subsidiaries, and be secured by a second lien on the assets securing the loans under STG's senior secured bank credit facility (the "Bank Credit Facility"). The Second Lien Notes would bear interest at an annual rate of 12%, increasing by .25% each six months, of which at least 8% would be paid in cash and the remainder could be paid in additional Second Lien Notes, subject to a fixed charge coverage test. STG may redeem the Second Lien Notes at the following call schedule:
* 101.50% in the first 6 months
* 101% in the next 6 months or through November 30, 2010, whichever is later
* 112% in the next twelve months
* 106% in the next twelve months
* 103% in the next twelve months and thereafter at 100%
In addition to customary closing conditions, this private placement of Second Lien Notes would be conditioned on obtaining an amendment to the Bank Credit Facility to permit this transaction.
The proceeds from the private placement of Second Lien Notes are intended to be used to repurchase the Convertible Notes in cash tender offers. Pursuant to the agreement in principle, and upon the terms and subject to the conditions of the tender offers, any 3.0% Convertible Notes validly tendered and not validly withdrawn would be purchased at a purchase price of $935 per $1,000 in principal amount and any 4.875% Convertible Notes validly tendered and not validly withdrawn would be purchased at a purchase price of $900 per $1,000 in principal amount. Tendering holders would also receive accrued and unpaid interest from the last interest payment date to the settlement date. The tender offers would be conditioned on, among other things, receipt of sufficient proceeds from the private placement of Second Lien Notes to fund the cash tender offers and at least 95% participation by holders of each of the 3.0% and 4.875% Convertible Notes.
NITRO PETROLEUM INCORPORATED (OTCBB: NTRO)
"Up 12.50% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/NTRO.php
Nitro Petroleum Incorporated is an independent energy company engaged in the acquisition, exploitation and development of oil and natural gas properties in the United States and Canada. Nitro's objective is to seek out and develop opportunities in the oil and natural gas sectors that represent a low risk opportunity. As well, Nitro aims to define larger projects that can be developed with Joint Venture partners.
NTRO News:
August 20 - Nitro Petroleum Inc. Announces Re-Work of Mason Burns and Teresa Well in Oklahoma
Nitro Petroleum (OTCBB: NTRO) announces that the Company is in the process of remedial upgrades for Mason Burns # 2 and the Teresa # 1 wells. Nitro Petroleum is the operator on these two wells which are located in Garvin County, Oklahoma. The Teresa well has now produced in excess of 5,000 barrels of oil and 44,000 MCF of natural gas from the Viola Limestone. The Viola will be acid injected to stimulate this production area. This is an industry standard rework procedure for the Viola Formation. The Company expects a rapid recovery of oil and gas flow following the acid flush.
Mason Burns # 2 is also on the remedial program. The well currently produces from the Bromide Sand Sequence and a remedial entry to flush and stimulate the zone is common with this formation. Nitro's geologist has identified a substantial Viola Limestone formation that lies behind pipe. Upon the ultimate depletion of the Bromide, the Company will re-enter, perforate and fracture the Viola. The Company expects this to extend our production for several years from this well.
RENTECH INCORPORATED (AMEX: RTK)
"Up 16.22% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/RTK.php
Rentech, Inc., incorporated in 1981, provides clean energy solutions. The Company’s Rentech-SilvaGas biomass gasification process can convert multiple biomass feedstocks into synthesis gas (syngas) for production of renewable fuels and power. Combining the gasification process with Rentech’s unique application of proven syngas conditioning and clean-up technology and the patented Rentech Process based on Fischer-Tropsch chemistry, Rentech offers an integrated solution for production of synthetic fuels from biomass. The Rentech Process can also convert syngas from fossil resources into ultra-clean synthetic jet and diesel fuels, specialty waxes and chemicals. Final product upgrading is provided under an alliance with UOP, a Honeywell company. Rentech develops projects and licenses these technologies for application in synthetic fuels and power facilities worldwide. Rentech Energy Midwest Corporation, the Company’s wholly-owned subsidiary, manufactures and sells nitrogen fertilizer products including ammonia, urea ammonia nitrate, urea granule, and urea solution in the corn-belt region of the central United States.
RTK News:
August 21 - Rentech's RenDiesel® Selected to Demonstrate Viability of Synthetic Fuel for U.S. Military Vehicle Use at Selfridge Air Show
Rentech, Inc. (Amex: RTK) announced that it has sold quantities of its synthetic diesel fuel, RenDiesel®, for use in a special military vehicle to demonstrate the viability of synthetic fuel for the U.S. Military at the upcoming Air Show at the Selfridge Air National Guard Base.
Rentech’s synthetic diesel will be used in a LASSO® Utility Vehicle designed and built for the U.S. Military by ICRC/VSE Corporation, which specializes in providing engineering and technical support services to the U.S. Government. VSE purchased RenDiesel® to conduct this demonstration of synthetic fuel for military applications, using their all-terrain light combat support utility vehicle, in accordance with a cooperative agreement between VSE and the U.S. Department of Energy’s National Energy Technology Laboratory.
The use of RenDiesel® in the military all-terrain vehicle follows the purchase of Rentech’s synthetic jet fuel by the U.S. Air Force for performance and emissions testing in a turbine engine upon confirmation that the quality and characteristics of RenJet® meet the Air Force’s specification for synthetic fuels. Fuels produced from the Fischer-Tropsch process, on which Rentech’s technology is based, are the only alternative fuel type currently certified for use by the United States Air Force.
Rentech’s synthetic jet and diesel fuel can be produced from abundant U.S. domestic resources, including coal and biomass, to produce a large volume of drop-in fuels that are cleaner-burning than petroleum-derived fuel.
The Air Show will take place at the Selfridge Air National Guard Base on August 22 and 23, 2009. More information on the event can be found at www.selfridgeairshow.org.
ABOUT VSE
VSE is a publicly traded (Nasdaq: VSEC), ISO 9001:2000-registered professional services company. VSE has provided more than $2 billion in diversified engineering and technical support services to the U.S. Government. VSE has been ranked among the top 100 defense contractors, top 10 foreign military sales contractors, and top 50 Navy contractors in the nation.
SIRIUS XM RADIO INCORPORATED (NASDAQ: SIRI)
"Up 13.15% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/SIRI.php
SIRIUS XM Radio is America's satellite radio company delivering to subscribers commercial-free music channels, premier sports, news, talk, entertainment, and traffic and weather. SIRIUS XM Radio has content relationships with an array of personalities and artists, including Howard Stern, Martha Stewart, Oprah Winfrey, Jimmy Buffett, Jamie Foxx, Barbara Walters, Opie & Anthony, Bubba the Love Sponge®, The Grateful Dead, Willie Nelson, Bob Dylan, Tom Petty, and Bob Edwards. SIRIUS XM Radio is the leader in sports programming as the Official Satellite Radio Partner of the NFL, Major League Baseball®, NASCAR®, NBA, NHL®, and PGA TOUR®, and broadcasts major college sports. SIRIUS XM Radio has arrangements with every major automaker. SIRIUS XM Radio products are available at shop.sirius.com and shop.xmradio.com, and at retail locations nationwide, including Best Buy, RadioShack, Target, Sam's Club, and Wal-Mart. SIRIUS XM Radio also offers SIRIUS Backseat TV, the first ever live in-vehicle rear seat entertainment featuring Nickelodeon, Disney Channel and Cartoon Network; XM NavTraffic® service for GPS navigation systems delivers real-time traffic information, including accidents and road construction, for more than 80 North American markets.
SIRI News:
August 20 - Quentin Tarantino To Debut His Personal Music Playlist on Little Steven's Underground Garage Channel on SIRIUS XM Radio
Fans will hear the famously eclectic taste of the acclaimed director as his "Inglourious Basterds" premieres Friday, August 21 Tarantino's special to also air on SIRIUS XM's The Spectrum and Alt-Nation Channels
SIRIUS XM Radio (Nasdaq: SIRI) announced that Academy Award®-winning filmmaker Quentin Tarantino will share his personal music playlist with SIRIUS XM listeners during a special that is scheduled to debut on Little Steven's Underground Garage, SIRIUS channel 25 and XM channel 59, on Friday, August 21 at 3:00 pm ET.
Tarantino, the writer and director of the new film Inglourious Basterds starring Brad Pitt, sat down and created an eclectic playlist of artists for SIRIUS XM listeners. The special, hosted by Tarantino himself, will include songs by artists such as David Bowie, Jay-Z, Andy Kim, Britney Spears, Barbra Streisand and KT Tunstall. Tarantino will also share personal stories about the various artists on his list, including what it was like performing with Wu Tang Clan, how friends of his made a home video to the Roy Orbison song, "There Won't Be Many Coming Home," and his great appreciation for Bob Dylan.
"[This list includes] … some of the music I was listening to while making my movie Inglourious Basterds," said Quentin Tarantino. "Now these songs don't necessarily have a damn thing to do with the movie. These were some of the ones I was listening to in my off time."
The special will also air on SIRIUS XM's The Spectrum, SIRIUS channel 18 and XM channel 45, on Saturday, August 22 at 8:00 am, 1:00 pm and 10:00 pm; and Tuesday, August 25 at 11:00 am and 11:00 pm and on Alt-Nation, SIRIUS channel 21 and XM channel 47, on Sunday, August 23 at 12:00 pm, 6:00 pm and 12:00 am; and Monday, August 24 at 11:00 am and 4:00 pm (all times Eastern).
Tarantino's playlist will also be rebroadcast on SIRIUS XM's Underground Garage channel, the channel created and produced by E Street band member "Little Steven" Van Zandt, on Friday, August 21 at 7:00 pm and 11:00 pm; and Saturday, August 22 at 3:00 am (all times Eastern).
ENTRAVISION COMMUNICATIONS CORPORATION (NYSE: EVC)
"Up 12.61% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/EVC.php
Entravision Communications Corporation is a diversified Spanish-language media company utilizing a combination of television and radio operations to reach Hispanic consumers across the United States, as well as the border markets of Mexico. Entravision is the largest affiliate group of both the top-ranked Univision television network and Univision's TeleFutura network, with television stations in 20 of the nation's top 50 Hispanic markets. The Company also operates one of the nation's largest groups of primarily Spanish-language radio stations, consisting of 48 owned and operated radio stations.
EVC News:
August 5 - Entravision Communications Corporation Reports Second Quarter 2009 Results
Entravision Communications Corporation (NYSE: EVC) reported financial results for the three- and six-month periods ended June 30, 2009.
Historical results, which are attached, are in thousands of U.S. dollars (except share and per share data). The results of our outdoor operations are presented in discontinued operations within the statements of operations in accordance with SFAS 144, "Accounting for the Impairment or Disposal of Long-Lived Assets".
(1) Operating expenses include direct operating, selling, general and administrative expenses. Included in operating expenses are $0.4 million and $0.4 million of non-cash stock-based compensation for the three-month periods ended June 30, 2009 and 2008, respectively and $0.7 million and $0.7 million of non-cash stock-based compensation for the six-month periods ended June 30, 2009 and 2008, respectively. Operating expenses do not include corporate expenses, depreciation and amortization, impairment charge, gain (loss) on sale of assets and loss on debt extinguishment.
(2) Corporate expenses include $0.4 million and $0.5 million of non-cash stock-based compensation for the three-month periods ended June 30, 2009 and 2008, respectively and $0.8 million and $0.9 million of non-cash stock-based compensation for the six-month periods ended June 30, 2009 and 2008, respectively.
(3) Consolidated adjusted EBITDA means net income (loss) plus loss (gain) on sale of assets, depreciation and amortization, non-cash impairment charge, non-cash stock-based compensation included in operating and corporate expenses, net interest expense, loss on debt extinguishment, loss from discontinued operations, income tax expense (benefit), equity in net income (loss) of nonconsolidated affiliate and syndication programming amortization less syndication programming payments. We use the term consolidated adjusted EBITDA because that measure is defined in our syndicated bank credit facility and does not include non-cash stock-based compensation, loss (gain) on sale of assets, depreciation and amortization, non-cash impairment charge, net interest expense, loss on debt extinguishment, loss from discontinued operations, income tax expense (benefit), equity in net income (loss) of nonconsolidated affiliate and syndication programming amortization and does include syndication programming payments. While many in the financial community and we consider consolidated adjusted EBITDA to be important, it should be considered in addition to, but not as a substitute for or superior to, other measures of liquidity and financial performance prepared in accordance with accounting principles generally accepted in the United States of America, such as cash flows from operating activities, operating income and net income. As consolidated adjusted EBITDA excludes non-cash (gain) loss on sale of assets, non-cash depreciation and amortization, non-cash impairment charge, non-cash stock-based compensation expense, net interest expense, loss on debt extinguishment, loss from discontinued operations, income tax expense (benefit), equity in net income (loss) of nonconsolidated affiliate and syndication programming amortization and includes syndication programming payments, consolidated adjusted EBITDA has certain limitations because it excludes and includes several important non-cash financial line items. Therefore, we consider both non-GAAP and GAAP measures when evaluating our business. Consolidated adjusted EBITDA is also used to make executive compensation decisions.
(4) Free cash flow is defined as consolidated adjusted EBITDA less cash paid for income taxes, net interest expense and capital expenditures. Net interest expense is defined as interest expense, less non-cash interest expense relating to amortization of debt finance costs, less interest income less the change in the fair value of our interest rate swaps. Free cash flow per share is defined as free cash flow divided by the diluted weighted average common shares outstanding.
Commenting on the Company's earnings results, Walter F. Ulloa, Chairman and Chief Executive Officer, said, "Our second quarter financial results reflect the continuing recession and the challenging advertising environment. We are continuing to aggressively manage our costs to maximize our cash flows. Our television and radio operations continue to deliver solid ratings in the nation's most densely-populated Hispanic markets. We believe we are well positioned to benefit when the economy recovers, given the strength of our brands and our ability to deliver the valuable Hispanic audience to advertisers."
The Company also announced that it repurchased from Univision Communications, Inc. 0.9 million shares of Entravision Class A common stock for approximately $0.5 million in the second quarter of 2009.
MULTICELL TECHNOLOGIES INCORPORATED (OTCBB: MCET)
"Up 31.91% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/MCET.php
MultiCell Technologies, Inc., a biopharmaceutical company, develops and commercializes therapeutics based on a portfolio of patented drug development technology platforms. It involves in the research and development of degenerative neurological diseases, including multiple sclerosis (MS) and cancer. The company’s therapeutic pipeline includes MCT-125, a Phase IIb therapeutic candidate for the treatment of primary multiple sclerosis-related fatigue; MCT-175, a preclinical therapeutic candidate for the treatment of relapsing-remitting MS; MCT-465, a preclinical adjuvant therapeutic candidate for the treatment of TLR3+ cancers; and MCT-475, a preclinical therapeutic candidate for the treatment of TLR3+ breast cancer. In addition, it has patented the ‘Sybiol’ synthetic bio-liver device to produce therapeutic proteins using BioFactories technology. The company was formerly known as Exten Ventures, Inc. and changed its name to MultiCell Technologies, Inc. in April 2004. MultiCell Technologies, Inc. was founded in 1962 and is based in Woonsocket, Rhode Island.
MCET News:
August 19 - MultiCell Technologies is Granted U.S. Patent for Immortalized Human Liver Cell Lines
MultiCell Strengthens Its Liver Cancer Drug Target Identification and Cancer Stem Cell Research Program
MultiCell Technologies, Inc. (OTCBB: MCET) announced that it has been granted U.S. patent 7,566,567 by the United States of America Patent and Trademark Office covering its Fa2N-4 and Ea1C-35 immortalized human hepatocyte cell lines.
The Fa2N-4 and Ea1C-35 immortalized human hepatocyte cell lines were derived from normal human liver cells, and are nontumorigenic, stable in culture, and produce therapeutic plasma proteins in cell culture. The Fa2N-4 cell line has also been engineered to function as a proxy for normal human liver cells for use in performing drug toxicity assays. MultiCell has licensed several pharmaceutical companies rights to use the Fa2N-4 cell line for drug toxicity applications including Pfizer, Bristol-Myers Squibb, and Eisai Pharmaceuticals. MultiCell licensed Corning, Inc. to sell the Fa2N-4 cell line and media within the drug discovery and life science research markets for drug toxicity (Tox) applications as well as for drug adsorption, distribution, metabolism and excretion (ADME) studies. MultiCell retained worldwide exclusive ownership of the Fa2N-4 and Ea1C-35 cell lines for all applications other than ADME/Tox, including drug target identification and using the cell lines for the production of therapeutic plasma proteins.
MultiCell also owns exclusive worldwide rights to two issued U.S. patents (6,872,389 and 6,129,911), one U.S. patent application (U.S. 2006/0019387A1), and several corresponding issued and pending foreign patents and patent applications related to the isolation and differentiation of human liver stem cells. MultiCell previously announced it had entered into a cooperative research and development agreement with Maxim Biotech, Inc. to develop products for the study of human liver stem cells and human liver cancer.
The role of liver stem cells in the carcinogenic process has recently led to a new hypothesis that hepatocellular carcinoma in humans arises by maturation arrest of liver stem cells. "MultiCell intends to use its human liver cell and liver stem cell assets to identify therapeutic targets and new drug candidates specifically targeting the treatment of primary liver cancer and intrahepatic bile duct cancer," said Jerry Newmin, Chairman & CEO of MultiCell Technologies. "We believe our engineered human liver cell lines will play an important role as proxies for normal human liver cells in our effort to identify drug targets."
The National Cancer Institute (NCI) in 2008 stated there were approximately 21,400 new cases of hepatocellular carcinoma and intrahepatic bile duct cancer in the United States, and approximately 18,400 of those cases resulted in death. Hepatocellular carcinoma, resulting from Hepatitis B and Hepatitis C infection, is the most common cancer in some parts of the world, with more than 1 million new cases diagnosed each year. The NCI also reports that hepatocellular carcinoma is associated with cirrhosis of the liver in 50% to 80% of patients.
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