Our Stocks to Watch today include Optical Systems Inc. (OTC: OPSY), SGD Holdings Ltd. (OTC: SGDH), Green Star Alternative Energy Inc. (OTC: GSAE), NavStar Technologies Inc. (OTC: NVSR), Muscle Flex Inc. (OTC: MFLI), MultiCell Technologies Inc. (OTCBB: MCET), Hard to Treat Diseases Inc. (OTC: HTDS), InternetArray Inc. (OTC: INAR), Turbine Truck Engines Inc. (OTCBB: TTEG), Optigenex Inc. (OTC: OPGX) and Sinclair Broadcast Group Inc. (Nasdaq: SBGI).
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OPTICAL SYSTEMS INCORPORATED (OTC: OPSY)
"Up 7.84% 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 24 - Optical Systems, Inc. Launches All-New Finance Manager Program in 17 Dealerships
New BDC program is designed to generate additional revenue for automotive dealerships across the
Automotive Software Designers, Inc. (ASDI), a leading provider of software and services for the automotive retail industry, and a wholly owned subsidiary of Optical Systems, Inc. (OTC: OPSY), announced the addition of 17 dealerships to its all new Finance Manager program.
"We believe our Finance Manager program will have a fit in 95 percent of the 26,000 automotive dealerships and 7,000 recreational vehicle dealerships in the United States," said B.J. Grisaffi, Chairman and Chief Executive Officer of Optical Systems, Inc. "Over the past several weeks we have launched several new BDC initiatives including our Sales Manager and Service Manager programs, and have achieved key milestones in our growth including beginning the process to become a fully reporting company. The new Finance Manager program is another step in the right direction for Optical Systems and our shareholders."
The BDC Finance Manager program utilizes the Company's cutting-edge remoteCSR program to survey a dealership's customers on their buying experience, and assesses customers' needs for an extended service contract, or aftermarket protection including tire and wheel road hazard protection, cracked windshield protection and/or dent protection for the vehicle they purchased. Products and services are specifically matched to customers based on their responses to survey questions, allowing for higher conversion rates.
All inquiries are made by ASDI's knowledgeable and professional Finance Manager remoteCSRs, and relate directly to the paperwork and financing of a customer's vehicle, ensuring that a customer is asked relevant questions at timely opportunities. All calls are made in the name of a dealership's finance manager and appointments are set in their name.
Patterson Chrysler Jeep in
"Dealerships today need to reduce costs, strengthen customer relationships, and most importantly increase profitability," said Grisaffi. "Our Finance Manager program helps dealerships achieve those goals."
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.
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 24 - SGD Holdings, Ltd. CEO Harry Johansing Discusses Environmentally Friendly Paper
SGD Holdings, Ltd. (OTC: SGDH) reveals the benefits of Ecopaper, Inc.'s product lines. Many companies and individuals enjoy telling their peers, employers and customers they have "gone green" because they started using recycled paper. However, on closer examination, professed recycled paper products are not always what they claim to be. Harry Johansing, CEO of SGD Holdings, Ltd., is a developer of Banana Paper, which represents one of the first 100% post-consumer paper products, and is an expert in the recycled paper arena.
So, what are the benefits of tree free paper? Ecopaper, Inc.'s tree free paper is 100% post-consumer waste. Waste that would normally wind up in a landfill is being processed into high quality paper products. No trees are used during the process. Furthermore, the energy and water required to manufacture paper are drastically reduced due to the process. Lastly, unlike typical copy paper, no harmful chemicals or toxins are added to the paper.
"Recycled paper is one of the biggest misnomers in the general public. It's incredibly misleading. Most people think that recycled is the same as post-consumer content. Unless it says post-consumer, it means that the product is a virgin pulp, otherwise known as paper made from trees. What consumers should be looking for when they purchase paper is either tree free paper or the highest post-consumer content possible," stated Harry Johansing.
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
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
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
NAVSTAR TECHNOLOGIES INCORPORATED (OTC: NVSR)
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
MUSCLE FLEX INCORPORATED (OTC: MFLI)
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 24 - Muscle Flex Inc. Provides a Detailed Financial Synopsis on Product Release Costs and the Company's Current and Future Cash Expectations and Funding
Muscle Flex Inc. (OTC: MFLI) is providing investors with a detailed cost analysis of its product releases as well as its current and future cash funding considerations.
Product Releases
Muscle Flex® anticipates that it will have sufficient capital to release 6 value products (products that retail between $9.95 - $19.95) the first of which is The BUDDY Table Caddy™. The following is a generic break-down of a Muscle Flex product release by costs:
Infomercial Filming: $20,000.00
Initial Product: $10,000.00
Web Development: $5,000.00
Initial Advertising: $20,000.00
Miscellaneous: $5,000.00
Legal: $5,000.00
Total — $65,000.00
The majority of profits from each product line are to be rolled back into additional advertising and inventory to grow each product through revenues generated by sales of the direct response TV program.
"Sugar Free" Television Show
Muscle Flex and Sterling Worldwide Entertainment, LLC (www.sterlingwwe.com), are in preparations to begin filming their daily prime time/daytime television talk show "Sugar Free." Muscle Flex and
Both Muscle Flex and
Current and Future Capital Considerations
To date, Muscle Flex has been financing its activities through personal shareholder loans provided primarily by the company Founder Danny Alex (www.DannyAlex.com). Danny Alex anticipates providing Muscle Flex an additional $300,000.00 in funding through personal shareholder loans. Another family member, Dana Alex is also expected to contribute up to an additional $100,000 in capital that will be in the form of a convertible debt instrument. If required, additional capital will be considered using equity and / or debt instruments offset by any profits derived from operations.
Upon Muscle Flex achieving profitability, growth of the company shall come almost exclusively from free cash-flow. Muscle Flex is keenly aware of the destructive nature of dilution and seeks to limit at every instance.
Salaries
To date, Danny Alex has opted not to take his salary but rather leave the cash in Muscle Flex and convert his salary into a shareholder loan. His salary in fiscal year 2008 was $1.00 and in 2009, his salary is expected to be $120,000.00. Danny Alex does not anticipate taking any portion of his salary until Muscle Flex is cash flow positive.
Cash Flow From Operations
It is impossible to know with any specificity if a product will generate positive cash flow. As a company, it is prudent to expect success and failures however, due to the intrinsically low fixed cost base of Muscle Flex, management believes it can maximize the profit potential of each product release through careful cash and cost management. A very low fixed cost base allows Muscle Flex to dramatically increase its ability to successfully monetize a product release into positive cash flow.
ABOUT THE BUDDY TABLET CADDY™
Muscle Flex is in the final stages of development for The BUDDY Tablet Caddy short form infomercial (60 and 120 seconds). Muscle Flex is anticipating strong sales numbers for The BUDDY Tablet Caddy based on its initial informal research study that 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. The majority of people surveyed said they would purchase The BUDDY Tablet Caddy as a TV product offering and 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.
MULTICELL TECHNOLOGIES INCORPORATED (OTCBB: MCET)
"Up 16.67% 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
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
HARD TO TREAT DISEASES INCORPORATED (OTC: HTDS)
"Up 18.82% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/HTDS.php
In June 2003, International Foam Solutions, Inc. changed its name to Hard to Treat Diseases, Inc. in connection with the completion of a share exchange agreement with Hard to Treat Diseases and T-19, Inc. Hard to Treat Diseases, Inc. holds the international marketing rights, except South Korea, to Tubercin, a patented immunostimulant developed for combating cancer and rheumatoid arthritis under medical patent. Tubercin promotes good health by enhancing the immune system. The nasal spray would be distributed through major holistic retailers and providers worldwide.
HTDS News:
August 24 - Skymark Research Initiates Independent Research Coverage On Hard to Treat Diseases, Inc.
Skymark Research, a leading provider of small- and micro-cap independent investment research, today initiated coverage on Hard to Treat Diseases, Inc. (OTC: HTDS). Skymark Research is currently offering a complimentary trial subscription. To view our research, go to www.skymarkresearch.com.
INTERNETARRAY INCORPORATED (OTC: INAR)
"Up 24.39% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/INAR.php
InternetArray, Inc. provides guidance and investment for innovative, early stage Internet companies. The Company's mission is to identify and develop collaborative business partners into viable and profitable companies.
INAR News:
August 24 - InternetArray's BidSellBuy.com Reaches Maximum Beta Participation
Company Will Provide Pre-Launch News via Twitter and Facebook
InternetArray, Inc. (OTC: INAR) announced that BidSellBuy.com has finished accepting first phase beta participants due to overwhelming response of interested individuals. People may now sign up to be on a waiting list to be notified when they are able to join.
"We're very excited about the tremendous response we've had to our request for beta testers," said Michael Black, President of InternetArray, Inc. "We've exceeded our goal and have decided to now offer a wait list for those who would like to get involved at some point soon after the private beta release. We've also set up a Twitter account and Facebook page to allow those outside the beta test group to keep abreast of some of the latest news on pre-launch development."
ABOUT BIDSELLBUY.COM
BidSellBuy.com combines a unique auction and purchase functionality that will challenge the way people currently buy goods online by using the individuals that buyers are connected to on social networks to disrupt the normal buying cycle and offer new ways to shop online. Social networks have continued their meteoric growth, with Facebook leading the pack and now counting 250 million active users worldwide.
BidSellBuy.com's new site is being developed by Noobis, Inc., an InternetArray company focused on social media applications.
ABOUT NOOBIS, INC.
Noobis, Inc. develops and integrates social media applications and networks. In addition to building its own Internet assets and technologies, Noobis works with clients and partners to leverage the emerging social media marketplace.
TURBINE TRUCK ENGINES INCORPORATED (OTCBB: TTEG)
"Up 95.83% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/TTEG.php
Turbine Truck Engines, Inc. is a technology company focused on the development, manufacture, and testing of its New Energy and Environmental Efficient Truck Engine intended for mass markets in the
TTEG News:
August 19 - Turbine Truck Engines Poised to Capitalize on
Turbine Truck Engines, Inc. ("TTE") (OTCBB: TTEG) recently noted that China's automobile sales rose each month during the first quarter of 2009, and after a strong 2008 in which sales of private cars were up 28%, experts agree that the fifteen-month trend is a harbinger of things to come.
To meet the demand of manufacturers for fuel efficient/low emission engines,
TTE has also entered into a strategic alliance with Tianjin Out Sky Technology Co., Ltd. (
Michael Rouse, President and CEO of TTE, has returned to
OPTIGENEX INCORPORATED (OTC: OPGX)
"Up 13.33% in morning trading"
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 18.60% 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
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.
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Disclosure: OTCPicks.com has been compensated one hundred thousand free trading shares by a third party for OPSY advertising and promotional services. OTCPIcks.com is being compensated eight thousand dollars by a third party (Stock Awareness Group) for SGDH advertising and promotional services. OTCPicks.com has been compensated eight thousand dollars by the company for GSAE advertising and promotional services. OTCPicks.com has recently been compensated five thousand free trading shares from Onyx Consulting for GSAE advertising and promotion. OTCPicks.com has been compensated eight thousand dollars by a third party (Mickey Reno) for NVSR advertising and promotional services. OTCPicks.com has been compensated three thousand five hundred dollars from Dana Alex for MFLI advertising and promotional services. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. OTCPicks.com is a website partially owned by BlueWave Advisors, LLC, a financial public relations firm. BlueWave Advisors, LLC, its principal and/or its affiliates will hold positions in the company profiled and may buy or sell securities at any time without notice.
