SmallCapReview.com is a leading small cap and penny stock site since 1999, to receive the free SmallCapReview newsletter visit http://www.smallcapreview.com.
Merz Pharma Group, a privately-held company based in Frankfurt am Main, Germany, and BioForm Medical, Inc. (Nasdaq: BFRM) Trading at $5.44, Up $2.02. Today jointly announced that the Board of Directors of BioForm Medical and the Merz Shareholders Council have unanimously approved a definitive agreement under which Merz will acquire all of the outstanding shares of BioForm Medical for US$5.45 per share in cash pursuant to a cash tender offer followed by a second-step merger. The transaction has a total equity value of approximately US$253 million based on BioForm Medical's outstanding shares of common stock.
The US$5.45 per share cash purchase price represents a premium of 55% over BioForm Medical's 30-day average closing stock price, and a premium of 60% over the closing price of BioForm Medical's common stock on December 31, 2009, the last trading day prior to today's announcement.
What They Do: BioForm Medical, Inc. is a medical aesthetics company headquartered in San Mateo, California, developing products that enhance aesthetic procedures performed in dermatology and plastic surgery practices.
China Direct Industries (Nasdaq: CDII) Trading at $1.69, Up $0.51. Today announced its financial outlook for its fiscal 2010 year ending September 30, 2010. As a result of improved visibility in the operations of its subsidiaries in China, coupled with continued price stabilization and improvement in demand in its magnesium segment, management has decided to reinitiate providing an annual financial outlook. Management sees improvement across all its business areas resulting in revenues for the full fiscal year of 2010 ranging between $130 and $150 million with net income ranging from $8 to $10 million. This guidance is predicated on management's belief that magnesium prices and demand will continue to gradually improve in fiscal 2010. Management also believes its consulting operations will improve significantly as global markets continue to strengthen for small to medium sized Chinese entities.
What They Do: China Direct Industries is a U.S. owned holding company operating in China in two core business segments, pure magnesium production and distribution and distribution of basic materials in China.
Kandi Technologies (Nasdaq: KNDI) Trading at $5.42, Up $1.02. Today announced it has formed a strategic alliance with China Potevio/CNOOC New Energy and Power, Ltd. -- a joint venture of China National Offshore Oil Corporation (CNOOC) and China Potevio Co. -- and Tianneng Power International, Ltd., aimed at speeding up the commercialization and achieving mass adoption of Pure Electronic Vehicles (Pure EVs) in China. Working together with government support, the companies believe they are the first in China with an innovative automotive transportation business model that provides a comprehensive solution to overcome current obstacles to an oil free future.
Within the Alliance, formally named "Alliance for Chinese Electric Vehicle Development and Commercialization," Kandi -- an established China-based leader in the design and manufacture of all terrain recreational vehicles and developer of the "COCO," a battery powered low-speed vehicle for casual driving -- expects to design and manufacture electric cars with patented (and patent pending) technology that permits easy battery removal and replacement, which is central to the new open architecture business model.
What They Do: Kandi Technologies ranks as one of the largest manufacturers and exporters of go-karts in China, making it a world leader in the production of this popular recreational vehicle.
Digital Ally (Nasdaq: DGLY) Trading at $2.48, Up $0.43. Today announced that, on a preliminary unaudited basis, its revenue for the three months ended December 31, 2009 set a new Company record of over $9.2 million. This represents an increase of approximately 37% when compared with revenue of $6.7 million in the prior-year quarter and an increase of over 61% when compared with revenue of $5.7 million in the third quarter of 2009. The Company's previous quarterly revenue record of $8.9 million was posted in the three-month period ended June 30, 2008. For the year ended December 31, 2009, revenue approximated $26.3 million on a preliminary unaudited basis, versus revenue of approximately $32.6 million in the year ended December 31, 2008.
What They Do: Digital Ally, Inc. develops, manufactures and markets advanced technology products for law enforcement, homeland security and commercial security applications.
About SmallCapReview
Copyright SmallCapReview. SmallCapReview.com is a leading site for news on small-caps, penny stocks and microcaps. SmallCapReview has built a loyal opt-in following for their investor products by providing a newsletter at no cost, sent to subscribers, highlighting select stocks in play, to register visit http://www.smallcapreview.com/. To follow us on Twitter visit http://twitter.com/SmallCapReview.
