Dallas TX 12/2/2009 9:23:58 AM
News / Business

ECOB, INIX, PEIX, WSCE, FFGO, MYNG OTCPicks.com Stocks to Watch for Wednesday, December 2nd

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Our Stocks to Watch tomorrow include EcoBlu Products Inc. (OTCBB: ECOB), iFinix Corp. (OTC: INIX), Pacific Ethanol Inc. (Nasdaq: PEIX), Wescorp Energy Inc. (OTCBB: WSCE), Fortress Financial Group Inc. (OTC: FFGO) and Golden Eagle International Inc. (OTCBB: MYNG).

 

ECOBLU PRODUCTS INCORPORATED (OTCBB: ECOB)

"Up 20.00% on Tuesday"

 

Detailed Quote: http://www.otcpicks.com/quotes/ECOB.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.

 

ECOB News:

 

November 23 - EcoBlu Adds Insulation to Its Product Line

 

New Product Includes Mold and Fire Protection

 

EcoBlu Products, Inc. (OTCBB: ECOB) announced that it has added Cool Blu Insulation, a cellulose based insulation for new construction and retrofits, to its product line. Cool Blu Insulation will contain EcoBlu's mold protection as well as its exclusive FRC™ technology (Fire Retardant Coating) to provide Class A fire protection.

 

Cool Blu Insulation is a natural product made from 85% recycled paper fiber, is safe for the environment, contains no harmful chemicals or irritants, and does not pose off gassing or Volatile Organic Compound (VOC) concerns. When installed, it provides home builders superior thermal performance, sound control and permanent fire resistance. Recent research shows the United States insulation market is $8.5 billion and is expected to grow 5.3% annually through 2012. This is potential positive revenue growth for EcoBlu and is an excellent complement to its wood products.

 

"This addition to our product line gets us closer to offering a complete package of eco-friendly building materials. Our goal is to provide products that save energy, improve indoor air quality, improve the sustainability of our forests and save lives," said Steve Conboy, President and CEO of EcoBlu Products. "Using Cool Blu Insulation along with our BLUWOOD™ coated wood products will allow builders and developers to build safer and more energy efficient homes," added Conboy.

 

Cool Blu Insulation is proven to reduce energy consumption by slowing air infiltration better than other insulation materials due to its density, and outperforms fiberglass insulation products with 57% better fire resistance.

 

The Company will also be demonstrating their exclusive FRC technology (Fire Retardant Coating) on wood structures and new Cool Blu Insulation today at the grand opening of its EcoGreen Exchange, a showplace for green building products and new corporate headquarters for EcoBlu Products. The grand opening will feature TV personality Lisa Ling and her husband Dr. Paul Song who are building an energy neutral home using EcoBlu products and are active in the environmental community.

 

IFINIX CORPORATION (OTC: INIX)

"Up 208.00% on Tuesday"

 

Detailed Quote: http://www.otcpicks.com/quotes/INIX.php

 

iFinix is a diversified information technology services and solutions company with expertise in systems integration, outsourcing, infrastructure and server technology. iFinix has established a product line that delivers financial and business information with streaming, real-time market data, news and analytics to professionals and active individual investors. The company's suite of products includes iFinix RealTime, iFinix Trader and eFinix. Visit www.iFinix.com for more information.

 

INIX News:

 

December 1 - iFinix Corp. Receives Approval for Their 15c-211 Application From FINRA

 

iFinix Corp. (OTC: INIX), a provider of real-time financial information and services to active traders and to the securities industry, announced that FINRA has approved the Company's 15c-211 application filed on their behalf by Network 1 Financial Securities, Inc.

 

The approval of the company's 15c-211 application allows a market maker to "make a market" in the company's stock, conducting principle buy and sell orders. With this approval the company is excited to continue its commitment to increasing transparency, exposure and providing liquidity for its shareholders.

 

PACIFIC ETHANOL INCORPORATED (NASDAQ: PEIX)

"Up 62.39% on Tuesday"

 

Detailed Quote: http://www.otcpicks.com/quotes/PEIX.php

 

Pacific Ethanol is the largest West Coast-based marketer and producer of ethanol. Pacific Ethanol has ethanol plants in Madera, California; Boardman, Oregon; and Burley, Idaho and has an additional plant under construction in Stockton, California. Pacific Ethanol also owns a 42% interest in Front Range Energy, LLC which owns an ethanol plant in Windsor, Colorado. Central to Pacific Ethanol's growth strategy is its destination business model, whereby each respective ethanol plant achieves lower process and transportation costs by servicing local markets for both fuel and feed. Pacific Ethanol's goal is to achieve 220 million gallons per year of ethanol production capacity in 2008 and to increase total production capacity to 420 million gallons per year in 2010. In addition, Pacific Ethanol is working to identify and develop other renewable fuel technologies, such as cellulose-based ethanol production and bio-diesel.

 

PEIX News:

 

November 25 - Pacific Ethanol Prepares to Resume Operations at Its Magic Valley Facility

 

Pacific Ethanol, Inc. (Nasdaq: PEIX) (the "Company") announced that it is preparing to resume production of ethanol at its 60 million gallon per year Magic Valley facility located in Burley, Idaho. In February 2009, the Company suspended production at the Magic Valley facility due to extended unfavorable market conditions. In May 2009, the Company's subsidiaries which own its four ethanol production facilities, including the Magic Valley plant, filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the District of Delaware in an effort to restructure their indebtedness.

 

Market conditions for producing ethanol have improved and the Company plans to restart the Magic Valley facility in January 2010, subject to approval by the bankruptcy court, final documentation and a number of other conditions, including rehiring and training staff and restocking corn and other raw materials. The bankruptcy court is expected to consider the planned restart at a hearing on December 14, 2009, at which the lenders providing debtor-in-possession financing for the Magic Valley facility are expected to support the initiative.

 

WESCORP ENERGY INCORPORATED (OTCBB: WSCE)

"Up 8.82% on Tuesday"

 

Detailed Quote: http://www.otcpicks.com/quotes/WSCE.php

 

Wescorp Energy Inc. is an oil and gas operations solutions company focused on commercializing technologies that overcome tough operational challenges facing oil and gas operators today.

 

WSCE News:

 

December 1 - Cancen Oil Canada acquires an additional site for remediation work in Alberta - units required from Wescorp

 

Wescorp Energy Inc. (OTCBB: WSCE) announced that its joint venture partner, Cancen Oil Canada Corporation, an oilfield and waste management and processing company based in Western Canada, has acquired an additional remediation facility in Alberta, Canada. This acquisition is in addition to the previously announced facility in Fort Nelson, British Columbia that requires both water and oil solids remediation equipment from Wescorp.

 

In addition to acquiring the new Medicine Hat Alberta disposal site facilities, Cancen also purchased an oil services company that provides 70% of its annual volume and secured a contract to remediate class II water disposal wells in the area. The Medicine Hat operation is in full production. It is currently anticipated Cancen will require one H20 Maxx and one HCXT unit for water and oil solids remediation from Wescorp.

 

Under the terms of the 50:50 joint venture agreement announced on July 29, 2009, a combination of a minimum of 12 H2O Maxx water and HCXT Solids remediation units will be strategically installed over a 12 month period at Cancen's facilities to significantly increase efficiency and reduce operating costs which will result in an increased profitability. In addition, the joint venture anticipates that it will receive orders from a number of Cancen's clients to build additional portable units to provide remote onsite remediation..

 

"The Wescorp-Cancen joint venture is, gaining momentum" commented Doug Biles, President and CEO of Wescorp Energy. "We expect to be extremely active in the first half of 2010 as Wescorp's remediation units begin to be deployed on Cancen's remediation sites in Western Canada."

 

FORTRESS FINANCIAL GROUP (OTC: FFGO)

"Up 50.00% on Tuesday"

 

Detailed Quote: http://www.otcpicks.com/quotes/FFGO.php

 

Fortress Financial Group, Inc. operates as a reseller of domestic and international MasterCard debit cards. The company is based in the Bradenton, Florida.

 

FFGO News:

 

December 1 - Fortress Financial Group, Inc. Offers Update Regarding the Sale of Company's Gold Mining Assets and a Possible Bid for the Company

 

Company Is in Advanced Negotiations to Sell Its Highly Valuable Gold Properties and Is Also Considering an Offer Which Could Result in the Outright Acquisition of the Company

 

Fortress Financial Group, Inc. (OTC: FFGO) confirmed in an announcement dated November 23, 2009 that it was in advanced discussions, which if successful, will result in the disposal of its entire remaining interests in its two Gold Properties, those being the "Bouse" and "South Copperstone" Gold Properties; or the possibility of the outright acquisition of your Company by a third party.

 

In that same announcement, Stockholders were cautioned that the value placed on their Company's interests in these two Gold Properties was very material and that stockholders should only rely upon the facts and valuations that are published by your Company's Management; particularly in respect of the impact upon the value per share of your Company's Common Stock.

 

Company Management is now giving a price per share guideline of our Common Stock based upon:

 

* The unprecedented number of requests for information regarding the possible valuation of the Company's interests in these two Gold Properties; and

 

* The Record Highs being set in the price of Gold, thereby making your company worth considerably more than what was originally discussed with interested parties; and

 

* The enormous trading volumes and pricing volatility in the Company's shares of Common Stock in the past ten days; and

 

* Management's view as to the minimum acceptable price for its Gold Properties.

 

Fortress Management is now prepared to state that a successful sale of the Company's interests in the two Gold Properties, after the settlement of outstanding Loan Notes due by the Company in the amount of US$5 million, would not be an amount of less than US$0.003 (three tenths of a cent) per share for our stock. This calculation is predicated upon the current number of outstanding shares of our stock. Your Company successfully repurchased and cancelled approximately 50% of its outstanding shares in and during 2009, resulting in this greatly reduced number of outstanding shares of Common Stock, as well as the significantly increased value of these shares of our Common Stock.

 

Fortress shares of Common Stock closed at a price of US$0.0002 (two hundredths of a cent) per share on Monday, November 30, 2009. The pricing guideline of US$0.003 per share provided by Management clearly reflects the effect of today's Gold price (the Gold price having traded at a new All Time Record High this morning, at US$1,199.20/oz) upon your Company's assets and that our shares of Common Stock are clearly extremely undervalued at this time.

 

Our team of Mining and Business Professionals have deliberated at length, and have decided that we are able to state the following: "We are not prepared, under any circumstances, to entertain, nor to discuss any Offer for your Company's interests in these two Gold Properties for an amount of less than the above-mentioned price per share of your Company's Common Stock. We have made this quite clear to all interested parties, and we expect that a satisfactory resolution is attainable, in short order."

 

Your management wishes to stress "That is not to say that we believe that your Company's interests in these two Gold Properties are not worth more than the above-mentioned price per share of Common Stock. We are very aware of the historical valuations and the Geological Reports that are publicly available in respect of these two Gold Properties; and which were prepared at substantially lower Gold prices than Gold's current trading price of nearly US$1,200/oz." While we certainly would like to realize our true asset value in regard to these two properties, and while we are eager to sign the contracts of sale in regards thereto, we will not sell these assets for anything less than their real-time present value.

 

Fortress' Management is obliged to inform our valued stockholders that the Company's interests in these two Gold Properties are not worth an amount of US$700 million, a valuation which certain of our stockholders appear to embrace at this time. Such off-the-cuff valuations for our share of these two Gold Properties, while pleasant to think about, is not based in reality.

 

We are not in a position to provide any further details at this point in time due to the sensitivity of ongoing negotiations, and we wish to ensure that your Company's Management achieves the best possible price for its stockholders in respect of its sale of the Company's interests in these two Gold Properties, or in the alternative, in the sale of the company in its' entirety. OF COURSE, ANY SALE WILL BE SUBJECT TO SUCCESSFUL CLOSING, AND NO ASSURANCE CAN BE GIVEN THAT THE GOLD PROPERTIES WILL BE SOLD AT THIS, OR ANY OTHER, PRICE PER SHARE.

 

Fortress Financial's Management states for the record: "The proceeds received by your Company upon a successful sale of its interests in the two Gold Properties, or of the Company itself, will not be retained by your Company but paid to our stockholders as a Single Liquidation Dividend. This is however, subject to the nature of the deal consummated by your Company in respect of the sale of these two Gold Properties."

 

Since our significant stockholder partners in these holdings have indicated a strong interest in participating in a sale of "Bouse" and "South Copperstone" Gold Properties, we do not expect or anticipate that the final negotiations to this sale will be a long protracted event.

 

In regards to questions about the possibility of a full bid to purchase your Company, Management can only say that this does remain a possibility, but we legally cannot comment any further at this juncture, due to ongoing negotiations.

 

We urge our stockholders to remain vigilant, while we finalize the examination of the opportunities laid out before us. Rest assured that we intend to exact a fitting price for our holdings.

 

GOLDEN EAGLE INTERNATIONAL (OTCBB: MYNG)

"Up 37.50% on Tuesday"

 

Detailed Quote: http://www.otcpicks.com/quotes/MYNG.php

 

Golden Eagle International, Inc. is a gold and copper exploration, mining and milling company headquartered in Salt Lake City, Utah; with offices in Elko, Nevada and Santa Cruz, Bolivia. The Company's most recent efforts have centered on its Agreement with Queenstake Resources USA, Inc. for the maintenance and ongoing regulatory compliance of the Jerritt Canyon 4,000 tpd CIL gold mill. In addition, Golden Eagle is working to maximize the potential of its Gold Bar 4,000 tpd CIP gold mill located in Eureka, Nevada through a joint venture, toll refining arrangement or potential merger. The Company has temporarily suspended operations at its C Zone gold mine and mill within its 136,500 acres (213 square miles) in eastern Bolivia's Precambrian Shield. Golden Eagle has also temporarily suspended its continuing development of its Buen Futuro A Zone gold and copper project in eastern Bolivia.

 

MYNG News:

 

November 3 - Golden Eagle in Ongoing Negotiations and Due Diligence Regarding Letter of Intent Offering $10 Million for the Purchase of Gold Bar Mill and Operating Agreement

 

Company Awaits Hearing Date on Motion for Order to Restore Possession of Jerritt Canyon Mill to Golden Eagle in $40 Million Lawsuit

 

Golden Eagle International, Inc. (OTCBB: MYNG) reported that it is engaged in ongoing negotiations and due diligence regarding a Letter of Intent ("LOI"), announced October 13, 2009 in a press release, and in a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission, offering $10 million for the purchase of the Company's Gold Bar mill. The offer was made by a private exploration and mining company with mining interests in Nevada and Utah. The Gold Bar mill is a 3,500 to 4,000 tpd CIP gold mill located 25 miles northwest of Eureka, Nevada that Golden Eagle has owned since 2004.

 

The terms of the LOI established a $1 million down payment to be made by October 30, 2009 (which payment was not made due to ongoing negotiations and due diligence), with $9 million deposited into escrow pending the completion of the permitting process (which deposit was also not made due to ongoing negotiations and due diligence). Due to the nature of the current negotiations, Golden Eagle considers the LOI to continue to be a valid offer pending the finalization of terms and conditions of an agreement.

 

Additionally, as part of the LOI Golden Eagle is negotiating a long-term operating agreement for the Gold Bar mill if and when it is sold.

 

Golden Eagle is carrying out due diligence regarding the offer, and further is cooperating with the potential purchaser on its due diligence with respect to the proposed transaction.

 

While Golden Eagle cannot guarantee that it will reach satisfactory terms regarding the sale of the Gold Bar mill, or for a long-term operating agreement, the Company is proceeding in good faith to seek mutually beneficial terms and conditions.

 

Company Awaits Hearing Date on Motion for Order to Restore Possession of Jerritt Canyon Mill to Golden Eagle in $40 Million Lawsuit

 

Golden Eagle also reported that final pleadings were filed with the Fourth District Court in Elko, Nevada, on October 28, 2009 and the Company is awaiting a hearing date on its motion asking for an order restoring the Company to possession of the Jerritt Canyon mill. (See, Golden Eagle's press release dated September 22, 2009.) Golden Eagle's motion is a step in its $40 million lawsuit against Yukon-Nevada Gold Corp. ("YNG") and its wholly owned subsidiary, Queenstake Resources USA, Inc. ("Queenstake"). The motion is based on the fact that Golden Eagle was given possession of the Jerritt Canyon mill as operator in early September 2008 and that its possessory right was illegally terminated with three hours notice on June 10, 2009 in violation of Nevada state law. The motion further alleges that YNG and Queenstake are guilty of forcible entry and forcible detainer in the abrupt and unreasonable manner in which Golden Eagle's possessory right to the Jerritt Canyon mill was terminated, and then that possessory right was further illegally interfered with through YNG and Queenstake's unlawful detention of the mill thereafter.

 

The Company is continuing its foreclosure proceedings on $2.23 million in mechanics' liens filed against YNG and Queenstake's Jerritt Canyon mill.

 

YNG and Queenstake have generally denied Golden Eagle's claims and are opposing the Company's motion for an order restoring its possession of the Jerritt Canyon mill.

 

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