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Gulf Resources (OTCBB: GFRE) $1.75. Today announced that it expects the bromine and crude salt manufacturing assets, for which it entered into an asset purchase agreement on September 7, 2009, to contribute approximately $3.3 million in net income for 2010. This reflects a projected net profit margin of 29% given $11.3 million in expected revenue contribution of the assets for 2010. The company expects the acquired assets to become operational at the end of November 2009.
Consideration being paid by the Company for the manufacturing assets and the value of the rights to the leased property includes RMB 78.4 million (approximately $11.5) million in cash and the issuance of 4,229,366 shares of common stock equal to RMB33.6 million (approximately $4.9 million). The Company has so far paid approximately 30% of the total cash amount and expects to pay the remaining 70% of the cash consideration and the share consideration upon the closing of the transaction on September 30, 2009.
What They Do: Gulf Resources, Inc. operates through two wholly-owned subsidiaries, Shouguang City Haoyuan Chemical Company Limited and Shouguang Yuxin Chemical Industry Co., Limited.
Kodiak Energy (OTCBB: KDKN) $0.44. Today announced along with its majority controlled subsidiary, Cougar Energy, Inc. (Cougar), an update to the CREEnergy Project.
As recently as today, Kodiak and Cougar have been in discussions with CREEnergy Oil and Gas Ltd. (CREEnergy) and confirm that the press release from the Bigstone Cree Nation was not sanctioned by the Chiefs and communities of Peerless Lake and Trout Lake. Kodiak and Cougar restate that we have valid and legal agreements with CREEnergy, who in turn has valid and legal agreements with the communities of Peerless Lake and Trout Lake. We look forward to working with the First Nations peoples of these communities going forward.
Kodiak and Cougar have reviewed our documentation with the Alberta Securities Commission, other regulatory bodies, and our legal counsel, and are confident going forward with these agreements. Furthermore, Kodiak and Cougar question the motivation for the Bigstone Cree Nation press release and will respond appropriately to protect the interests of Kodiak and Cougar, if necessary.
What They Do: Kodiak Energy is an oil and gas exploration and development company focused on developing and exploring onshore oil, gas and CO2 properties within North America.
RTG Ventures (OTCBB: RTVG) $0.059. Today announced ANHL has signed a Letter of Intent to acquire a multi-faceted retail business which will now develop an aggressive presence in the digital world of the internet. The company is privately owned and has revenue in excess of $2 million and is profitable. The company sources its product from China and is looking to expand its operation in Europe and the Far East.
Barry Fludgate, NMTV's CEO-designate, commented: "We have been looking for companies that exploit the technology and marketing that we can create. In acquiring this company we not only develop a source of product, but bring a management team that understands not only the global business, but an in depth understanding of the global market place. The CEO of the acquired company will assume the role of president of NMTV."
What They Do: RTGV, through NMTV, has a new media business model which leverages an exclusive technology to deliver multicast transmissions of TV quality transmissions without buffering or freezing.
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