Our Stocks to Watch tomorrow include Optical Systems Inc. (OTC: OPSY), Comstock Homebuilding Companies Inc. (Nasdaq: CHCI), MultiCell Technologies Inc. (OTCBB: MCET), Optigenex Inc. (OTC: OPGX), Sinclair Broadcast Group Inc. (Nasdaq: SBGI) and Rentech Inc. (Amex: RTK).
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OPTICAL SYSTEMS INCORPORATED (OTC: OPSY)
"Up 13.33% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/OPSY.php
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 21 - Optical Systems, Inc. Targeting 6,000 Dealerships Across 42 States With Next Generation of Save-a-Deal
Nationwide launch planned for November 2009
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 the company has targeted 6,000 dealerships across 42 states as customers for the next generation of its flagship software product, Save-a-Deal.
"Approximately 90 percent of the 26,000 automotive dealerships and 7,000 recreational vehicle dealerships in the
"The recent enhancements to Save-a-Deal offer significant cost savings and improvements in customer service, security, scalability, performance, and accessibility."
Save-a-Deal is a comprehensive, fully-integrated front office software solution specifically designed to increase auto dealerships' profitability. When properly used, this scalable CRM system is guaranteed to increase unit sales and profit per vehicle while lowering costs through enhanced efficiency.
The next generation of Save-a-Deal is a more streamlined, cost-effective CRM solution than its predecessor with added capabilities in remote personnel management, customer service, training, and security.
Additional benefits to customers include:
* Real-time access speeds with normal content loads of more than 200,000 database records from three different states with multiple, concurrent users
* Added scalability from modular software architecture
* Significant savings on installation and maintenance costs
* Three levels of security to ensure protection of dealerships' sensitive data and information
* More customization for electronic records management
ASDI currently has systems and programs in place to upgrade its existing customers from their current legacy systems to the next generation of Save-a-Deal.
The Company has been actively pursuing private label projects with several, large automotive groups as a result of the recent enhancements.
COMSTOCK HOMEBUILDING COMPANIES (NASDAQ: CHCI)
"Up 93.75% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/CHCI.php
Established in 1985, Comstock Homebuilding Companies, Inc. is a publicly traded, diversified real estate development firm with a focus on affordably priced for-sale residential products. Comstock builds and markets single-family homes, townhouses, mid-rise condominiums, high-rise condominiums, mixed-use urban communities and active adult communities. The company currently markets its products under the Comstock Homes brand in the
CHCI News:
August 21 - Comstock Homebuilding Companies, Inc. Eliminates $17.8 Million of Debt Through Friendly Foreclosure Agreement With Wachovia Bank
Comstock Homebuilding Companies, Inc. (Nasdaq: CHCI) and certain of its subsidiaries (collectively "Comstock" or the "Company") announced that on August 17, 2009 it had entered into a foreclosure agreement ("Agreement") with Wachovia Bank, N.A. ("Wachovia") with respect to approximately $17.8 million of the Company's $77.2 million of secured debt. Under the terms of the Agreement, the Company agreed to cooperate with Wachovia with respect to its foreclosure on certain of the Company's real estate assets and Wachovia agreed to release the Company from their obligations and guarantees relating to the $17.8 million debt contemporaneous with the execution of a non-interest bearing unsecured deficiency note in the amount of approximately $1.8 million. However, the deficiency note is reduced by the principal payments related to certain homes conveyed by the Company prior to September 30, 2009. Based on current sales backlog, the September 30, 2009 deficiency note balance is expected to be in the range of $425,000.00, subject to increase or decrease based on additional sales or cancellations.
The assets being foreclosed upon by Wachovia include: Massey Preserve, raw land located in Raleigh, North Carolina; Haddon Hall, a condominium project in Raleigh, North Carolina; Holland Farm, a development project in Raleigh, North Carolina; Wakefield Plantation, a single family project in Raleigh, North Carolina; Riverbrooke, a single family project in Raleigh, North Carolina; Wheatleigh Preserve, a single family project in Raleigh, North Carolina; Brookfield Station, a single family project in Raleigh, North Carolina; Providence, a single family project in Raleigh, North Carolina; Allyn's Landing, a development project in Raleigh, North Carolina; Allen Creek, a single family project in Atlanta, Georgia; Arcanum Estates, a single family project in Atlanta, Georgia; Falling Water, a single family project in Atlanta, Georgia; James Road, a development project in Atlanta, Georgia; Tribble Lakes, a development project in Atlanta, Georgia; and Summerland, a condominium project in Woodbridge, Virginia.
"We are very pleased to have finalized an agreement with Wachovia that will reduce the balance due to Wachovia from approximately $17.8 million to approximately $425,000.00 while also facilitating delivery of certain backlog units," said Christopher Clemente, Comstock's Chairman and Chief Executive Officer. "While we have not finalized all agreements regarding our effort to restructure all of our debts, this is a critical step forward. We remain focused on reaching similar amicable agreements with our other secured lenders and we will continue to take the steps necessary to position Comstock for a return to profitability as market conditions improve."
It is expected that Wachovia will complete the foreclosure process in the fourth quarter of 2009 or the first quarter of 2010. The Company announced that in anticipation of this agreement it had recorded impairment charges related to the Wachovia assets in the quarter ending June 30, 2009 and as a result the Company does not anticipate any material future write-offs as a result of the Agreement or the foreclosures.
MULTICELL TECHNOLOGIES INCORPORATED (OTCBB: MCET)
"Up 27.66% on Friday"
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
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
OPTIGENEX INCORPORATED (OTC: OPGX)
"Up 87.50% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/OPGX.php
Optigenex inc. is a formulator, distributor and provider of proprietary next generation skin care, supplements and bulk ingredient featuring AC-11® (Formerly known as C-MED-100®) a patented compound as it core product. AC- 11® is the bioactive, water soluble form of the medicinal herb Uncaria tomentosa.
OPGX News:
July 28 - Optigenex Inc. Announces Rollout of Activar® AC-11® Oral Supplements and Activar® AC-11® Next Generation Skin Care Products in
Company Expects Commercial Sales to Begin in Early Fall 2009 Through Pharmacies and Other Healthcare Distribution Channels (Financial Terms Were Not Disclosed)
Optigenex Inc. (OTC: OPGX) announced that its partner Ekson Farma is prepared to launch its family of AC-11® oral supplements and skin care products under the brand name Activar® for distribution throughout the major pharmacies in Turkey. Under an exclusive license signed in early 2008, Ekson has invested significant capital, resources and time in determining market acceptance of Optigenex's patented technology and has also devoted considerable efforts towards clinical and scientific research to broaden the market applications for its unique anti-aging products. The agreement and subsequent commercialization by Ekson sets the stage for the introduction of AC-11® to educated and health-conscious Turkish consumers and represents another important strategic initiative in the company's plans to establish AC-11® as a recognized international brand.
All-natural, and standardized at a minimum of 8 per cent Carboxy Alkyl Esters ("CAEs(TM)"), AC-11® is the only patented aqueous extract of the Uncaria species that can make the following therapeutic claims ("DNA repair, Immune enhancement and Inhibition of pro-inflammatory agents") which are validated by a broad spectrum of scientific and clinical studies.
AC-11® already has gained a major foothold in
Daniel Zwiren, president and CEO of Optigenex Inc., said, "We are delighted to have a company with the scientific pedigree and reputation of Ekson Farma as part of our growing list of marketing and distribution partners. Moreover, we believe the unique scientific properties of AC-11® along with Ekson's research will allow us to grow our business rapidly in this key geographic region."
Doctor Yaman Er, president of Ekson Farma, added, "We are very pleased with the reception AC-11® has received and attribute this attention to the key differentiators of AC-11® supported by clinical and scientific studies. Those studies validate the efficacy of this all-natural ingredient, which is harvested in the Amazon Rainforest and manufactured by Centroflora Group Botucatu,
ABOUT EKSON FARMA
Founded in 1994, Ekson Farma is an applied sciences and marketing company focused on providing wellness solutions and related technologies to physicians, pharmacies and the general medical community. Ekson's strategy is to select superior and innovative products validated by clinical and scientific studies, establish consumer and physician acceptance through test marketing and ultimately distribute those products with the goal of improving the quality of life for health conscious consumers and patients. Ekson through its collaboration with research partner OKSANTE LABORATORIES is noted for its development of diagnostic tools utilizing DNA sequencing and molecular diagnostics with an emphasis on early detection of disease and DNA mutations.
SINCLAIR BROADCAST GROUP INCORPORATED (NASDAQ: SBGI)
"Up 32.56% on Friday"
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
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.
RENTECH INCORPORATED (AMEX: RTK)
"Up 16.76% on Friday"
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
RTK News:
August 21 - Rentech's RenDiesel® Selected to Demonstrate Viability of Synthetic Fuel for
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.
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