Our Stocks to Watch tomorrow include Bioject Medical Technologies Inc. (OTCBB: BJCT), MedClean Technologies Inc. (OTCBB: MCLN), QED Connect Inc. (OTC: QEDN), BizAuctions Inc. (OTC: BZCN), Sierra Gold Corp. (OTC: SGCP) and Biomagnetics Diagnostics Corp. (OTC: BMGP).
BIOJECT MEDICAL TECHNOLOGIES INCORPORATED (OTCBB: BJCT)
"Up 115.38% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/BJCT.php
Bioject Medical Technologies Inc., based in
BJCT News:
November 4 - Bioject Reports Third Quarter 2009 Results
Operating Loss Declines 60% and Net Loss Allocable to Common Shareholders Decreases 82% over Third Quarter 2008 Results
Bioject Medical Technologies Inc. (OTCBB: BJCT), a leading developer of needle-free injection therapy systems, announced financial results for the third quarter of 2009.
For the quarter ended September 30, 2009, Bioject reported revenues of $1.5 million, compared to $1.7 million reported in the comparable year ago quarter. Third quarter 2009 product sales were $1.4 million compared to $1.5 million in the third quarter of the prior year. License and technology fees for the 2009 quarter were $105,000, compared to $139,000 in the year-ago quarter. Operating expenses for the third quarter of 2009 were $1.7 million, compared to $2.2 million in the comparable 2008 period, a 20% decrease from the year-ago period. The Company reported a third quarter 2009 operating loss of $210,000, compared to an operating loss of $525,000 in the prior year period, a 60% decrease. Included in the current quarter operating loss of $210,000 is $228,000 of non-cash charges comprised of non-cash compensation expense related to the fair value of stock-based awards, warrants and stock funding of $65,000 and depreciation and amortization of $163,000. The Company reported a third quarter 2009 net loss allocable to common shareholders of $187,000, compared to net loss allocable to common shareholders of $1.1 million in the comparable year-ago quarter. At September 30, 2009, the Company reported cash and cash equivalents of $0.9 million.
Basic and diluted net loss per common share for the quarter ended September 30, 2009 were $0.01 per share on 17.2 million weighted average shares outstanding, compared to a net loss of $0.07 per share on 16.0 million weighted average shares outstanding for the same period last year.
For the nine months ended September 30, 2009, Bioject reported a net loss allocable to common shareholders of $737,000 on revenues of $5.2 million. This compares to a net loss allocable to common shareholders of $2.8 million on revenues of $5.1 million for the same period last year.
Basic and diluted net loss per share for the nine months ended September 30, 2009 were $0.04 per share on 16.9 million weighted average shares outstanding compared to a net loss of $0.18 per share on 15.7 million weighted average shares outstanding for the comparable period last year.
“Bioject continues to carefully manage operations, delivering a 60% reduction in operating loss for the third quarter of 2009 and a 75% reduction in operating loss for the first nine months of 2009 as compared to the respective prior year periods,” said Ralph Makar, Bioject’s President and CEO. “Although our cash operating loss has decreased significantly, payments on our debt obligations have significantly impacted our cash reserves. Due to our limited financial reserves, managing cash continues to be a priority, as well as working to grow the business and secure new deals in a timely manner. While all of our efforts to date have allowed us to maintain cash on hand at about the same level as at the end of the third quarter of 2008, it is important that we secure additional financing for the Company’s future. We believe the transaction contemplated by the recently signed term sheet with Signet Healthcare Partners, regarding our Series G Preferred Stock financing. will give us additional time to try to secure financing or explore other strategic alternatives by providing Bioject with additional capital and removing a significant amount of debt,” said Mr. Makar.
MEDCLEAN TECHNOLOGIES INCORPORATED (OTCBB: MCLN)
"Up 83.18% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/MCLN.php
MedClean Technologies, Inc. is a provider of innovative technology and services for the onsite treatment and disposal of regulated medical waste. MedClean's flagship MedClean® Series systems are fully integrated, turnkey technology solutions that enable hospitals and other healthcare providers to safely, efficiently and cost-effectively convert bio-hazardous regulated medical waste into sterile, unrecognizable material suitable for disposal as municipal solid waste. MedClean was founded in 1997 with corporate headquarters, research and development and distribution facilities located in
MCLN News:
November 10 - MedClean Technologies Announces Positive Cash Flow From Operations for Third Quarter
Third Quarter Revenue Increases 108% Year-Over-Year
MedClean Technologies, Inc. (OTCBB: MCLN) announced financial results for the Company's third quarter, the period ended September 30, 2009.
Financial Results
For the third quarter, the Company reported revenue of $1.6 million, an increase of 108% compared to $749,000 for the third quarter last year. Gross profit for the quarter was $914,000, or 59% profit margin, compared to gross profit of $267,000, or 36% profit margin, in the third quarter last year. Total operating expenses for the quarter were $572,000, down 58% compared to $1.4 million, in the third quarter last year. The Company reported $343,000 in operating income, compared to a loss from operations of $1.1 million last year. Net income for the quarter was $340,000, or $0.00 in income per share (based on 561,542,968 shares outstanding), compared to a net loss of $1.3 million, or $0.00 in loss per share (based on 336,645,470 shares outstanding), for the third quarter last year.
The Company generated $364,000 in EBITDA compared to negative EBITDA of $1.0 million in the third quarter last year.
Scott Grisanti, the Company's President and Chief Executive Officer, commented, "MedClean is making progress in its effort to increase awareness and further penetration of its flagship MedClean® Series On-Demand system for cost-effective and environmentally conscious onsite treatment and disposal of regulated medical waste and HIPAA-compliant destruction of confidential documents. This progress is evident by the year-over-year and sequential growth in our revenue. In addition, our efforts to reduce expenses have enabled the Company to generate cash in the quarter. I wish to thank the entire MedClean team for its loyalty and dedication. While we are encouraged with the progress we have made, it is clear the Company requires additional capital to accelerate its growth and extend the MedClean product family to serve small quantity medical waste generators. Management and the board continue to explore strategic opportunities to expand the company's footprint while pursuing additional capital to further advance its business model."
For the first nine months of 2009, the Company generated revenue of $2.3 million, an increase of 19% compared to the $2.0 million for the first nine months of 2008 and $2.1 million for all of 2008. Gross profit year-to-date was $1.2 million, or 51% profit margin, compared to gross profit of $663,000, or 34% profit margin for the first nine months last year. Total operating expenses year-to-date were $4.5 million, up 41% compared to $3.2 million in the first nine months of last year. The Company reported a $3.3 million operating loss, compared to a loss from operations of $2.5 million last year. Net loss for the first nine months of 2009 was $4.2 million, or $0.01 loss per share (based on 561,542,968 million shares outstanding), compared to a net loss of $4.4 million, or $0.03 loss per share (based on 127,553,445 shares outstanding), for the first nine months last year.
The Company provides equity based payments to officers, employees and consultants as compensation. The net loss of $4.2 million was impacted by non-cash equity based compensation recorded as a charge against operations of $3.3 million. Without the charge, our loss for the nine months ended September 30, 2009 would have been $899,000 compared to a $2.7 million loss for the same period last year after comparative adjustments. This represents an overall operating improvement of $1.8 million or 66%.
Management Restructuring
Subsequent to the quarter, and effective November 10, 2009, the Company announced a restructuring of its senior management team. David J. Laky will be promoted to President and Chief Executive Officer. Previously, Mr. Laky was the Company's Senior Vice President of Client Services and Technology. Mr. Laky joined MedClean from eResearchTechnology, Inc. where he was General Manager and Vice President of eClinical Group.
Simultaneously, Scott Grisanti will transition from President and CEO to Chairman of the Board of Directors. Joseph Esposito, MedClean's current Chairman, will remain on the board as a director and continue to serve as a consultant to the Company.
Mr. Grisanti continued, "We believe this planned succession will best enable MedClean to achieve its near-term and long-term goals. Dave has demonstrated the leadership qualities and the industry expertise necessary to drive MedClean's growth. His broad based experience managing technology and services functions with full profit and loss responsibility in larger organizations will prove invaluable as we focus on accelerating sales, generating profits, and increasing cash flow."
QED CONNECT INCORPORATED (OTC: QEDN)
"Up 60.00% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/QEDN.php
QED Connect, Inc. is an information security Software-as-a-Service (SaaS) provider that gives organizations visibility, management and control of activity on all their computers, laptops and wireless devices. The company's SaaS, Omni Manager, is an affordable way to monitor and manage how employees are using company computers and the Internet any time, any location; solving problems created by today's 'virtual' work environment (branch offices, remote workers, traveling employees). Omni Manager is a web-hosted software application that includes Internet filtering and blocking, antivirus, instant messaging management, asset tracking, application usage monitoring and policy management. ROI is delivered by employee productivity gains, cost savings and improved operational efficiencies.
QEDN News:
November 12 - QED Connect Merger Partner Seeking to Finalize Contract
QED Connect Inc. (OTC: QEDN) ("QED Connect"), an innovative, software-as-a-service (SaaS) provider for the information security market, announced its merger partner, Southeastern Retail Services, Inc., d/b/a "ProRemote Solutions" is in the process of finalizing a contract for the placement of its ProRemote Solutions products.
Under the proposed contract, with one of the leading metro-Atlanta Sports Bar entertainment complexes, ProRemote has agreed in principal to provide its remote control products that will allow the operator of the establishment to simultaneously control multiple channels, on/off and volume levels for their over 100 displays with a click of a button from the ProRemote, single-source remote control. The remote also provides the convenience of allowing the user to set favorite stations such as Monday Night football to deliver seamless selection of sporting events via a point-a-click environment. The events can be pre-programmed in advance to change the station without additional interaction from the staff. Also included will be surveillance cameras and security controls for arming and disarming the alarms. All features can be controlled via the internet remotely.
Michael A. Gregorakos, president of ProRemote Solutions, said, "The market opportunity for our product is very large as there are thousands of sports bars in the
ABOUT PROREMOTE SOLUTIONS
ProRemote Solutions is a manufacturer of innovative, home based technology solutions for the Home Theatre Industry. The company provides a value proposition of proprietary, single source remote control solutions integrating audio & video media servers along with remote monitoring, security and lighting systems in a single remote control unit. ProRemote also offers stand alone home theater products. ProRemote Solutions is headquartered in
BIZAUCTIONS INCORPORATED (OTC: BZCN)
"Up 40.00% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/BZCN.php
BizAuctions, Inc. is a prime provider of commercial eBay liquidation services for excess inventory, overstock items, and returns. Our clients have included some of the Nation's leading retail names at the forefront of their industries. BizAuctions addresses the $60 billion excess inventory problem for clients by sending trucks to pick up pallets of excess inventory, selling the inventory on eBay, and collecting payment. We provide our clients with a new sales channel to generate additional revenue on excess inventory, while at the same time freeing up their valuable storage and retail space. With a long-term strategy to provide eBay liquidation services to Fortune 1000 enterprises, BizAuctions is a clear and lucrative solution for most any business to liquidate its excess inventory on eBay.
BZCN News:
November 24 - Cyber Monday Will Launch Special Promotions for the
BizAuctions, Inc. (OTC: BZCN), a prime provider of commercial eBay liquidation services for excess inventories, overstocks and returns, announces Cyber Monday, November 30, will kick-off special promotions for its customers during the Holiday season buying.
Delmar Janovec, CEO comments, "BizAuctions, a Titanium Powerseller, on eBay through its eBay store name: BusinessAuctions Inc, Cyber Monday will launch special promotions that will run through the Holiday Season for its customers that are looking for great buys on a wide variety of name brand products that BizAuctions customers have become accustomed to. Also, our Lucky 7's retail store in
"BizAuctions employs two primary business models, whereby it liquidates inventory through eBay on consignment for a lucrative commission; and/or it purchases inventory at a fraction of retail price for the purpose of liquidating it for a profit. BizAuctions consigns, buys inventory, and liquidates through eBay, its recently opened retail store, Lucky 7's, and soon through its recently announced Letter of Intent with Midwest Outlet Centers," continues Janovec.
The Company's clients have included some of the Nation's leading retail names at the forefront of their industries. With a long-term strategy to provide eBay liquidation services to Fortune 1000 enterprises, BizAuctions is a clear and lucrative solution for most any business to liquidate excess inventory on eBay.
SIERRA GOLD CORPORATION (OTC: SGCP)
"Up 37.14% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/SGCP.php
Sierra Gold is engaged in the exploration and development of gold and diamond properties in
SGCP News:
October 6 - Sierra Gold Corporation Positioned to Increase Gold Production Tenfold With Arrival of New Processing Plants
Sierra Gold Corporation (OTC: SGCP) announced that the two new 10-ton, state-of-the-art, gold processing plants arrived in
In the area of communication, we launched a new website recently as a first step to keep our shareholders better informed. The next step is the appointment of John Semachko Jr. as Vice President of Sierra Gold Corporation. Mr. Semachko's primary role will be in investor relations. He brings over 25 years of business ownership and management experience with a track record of success.
Doug Evans, CEO of Sierra Gold, commented: ``The company is looking forward to moving into the next stage of development with the addition of new state-of-the-art equipment. This is a giant step forward from our present local methods of processing gold. We are also excited to bring on a new highly qualified member, Mr. Semachko, to our team. Our goal is continue to improve the investors' ability to access updated information from the company.''
BIOMAGNETICS DIAGNOSTICS CORPORATION (OTC: BMGP)
"Up 25.14% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/BMGP.php
Biomagnetics Diagnostics Corporation is an advanced medical device and biotechnology company. The Company's revolutionary diagnostic systems, which are based on advanced magnetics, test for any viral or bacterial disease using any body fluid. The Company's technology allows laboratories to perform far more tests in the same amount of time it takes to do a single test. The HTS-MTP platform is designed to detect the actual virus and viral load in body fluids and not just simply screen for the presence of viral antibodies.
BMGP News:
November 25 - Biomagnetics to Hold Investor Conference Call
Biomagnetics Diagnostics Corp. (OTC: BMGP), a developer of revolutionary diagnostic systems and technology for HIV, hepatitis, tuberculosis, and malaria detection, announced that the Company will hold an investor conference call to discuss upcoming business opportunities and its agreement with one of the world’s premiere research laboratories. The call, which will be open to all investors, will be held on Wednesday, December 2nd at 4:30 EST. Interested parties should contact the Company at info@biomagneticsbmgp.com for invite details.
“It is a very exciting time for all of us at Biomagnetics and its shareholders. For the past few quarters we have been working on several major growth initiatives that are now coming to fruition,” commented Clayton Hardman, CEO of Biomagnetics Diagnostics. “Please join us next week as we discuss the pending introduction of our revolutionary technologies for malaria, tuberculosis, HIV and other pathogen and disease diagnosis and as we profile our new and evolving relationship with one of the world’s premiere research institutions. We view our current business opportunities as being highly significant.”
According to the World Health Organization, some 3.2 billion people, or about half the world's population is at risk of malaria transmission in 107 countries and territories worldwide. While there are between 350 million and 500 million new cases of malaria each year, there are very few reliable and field deployable diagnostic tools available. In the case of malaria, early detection substantially improves treatability and survivability. Field deployable Integrated Optical Biosensor System (IBOS), such as those Biomagnetics Diagnostics is planning to soon introduce hold the promise to significantly speed the diagnostic testing process and to meaningfully lower costs and improve lives.
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