Active Penny Stocks in the News
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Gamma Pharmaceuticals, Inc. (PINKSHEETS: GMPM) surges 83.18% in morning trading to $.22 with 590K shares traded. Gamma Pharmaceuticals, Inc. is a marketing and product formulation company selling its own branded products through wholesalers and direct to retailers, both in the
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Trintech Group Plc (Nasdaq: TTPA) reached up 34.60% in morning trading to $4.24 with 95K shares traded. Trintech Group Plc is a leading global provider of integrated financial governance, risk management, and compliance software solutions for commercial, financial, and healthcare markets. Trintech Group Plc (Nasdaq: TTPA) announced yesterday evening revenues of $7.9 million for the fourth quarter ended January 31, 2010 , an adjusted EBITDA net income of $1.4 million and net income for the quarter of $910,000 from continuing operations. For the year ended January 31, 2010, the company recorded revenues of $32.5 million, an adjusted EBITDA net income of $4.9 million and net income of $2.6 million from continuing operations. It also announced that it has signed a definitive agreement for the sale of its healthcare division, Concuity, to The Advisory Board Company (Nasdaq: ABCO) for $34.5 million in cash. Under the terms of the agreement, The Advisory Board Company will pay Trintech $34.5 million cash for all of the outstanding shares of a newly formed Trintech subsidiary which, prior to closing, will hold the majority of the assets and liabilities of the Concuity business. The purchase price is subject to a working capital adjustment at the closing date and an escrow amount of $6 million to be set aside with $2 million being released after 9 months and the remainder no later than December 31, 2011, subject to the satisfaction of post-closing conditions. The sale has been approved by the Boards of Directors of both companies and is subject to customary closing conditions. Trintech expects the sale will be completed within one month.
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China Gengsheng Minerals, Inc. (OTC Bulletin Board: CHGS) was up 18.73% in morning trading to $3.17 with 216K shares traded. China Gengsheng Minerals, Inc. (OTC Bulletin Board: CHGS; NYSE Amex: CHGS) ("Gengsheng" or the "Company"), a high-tech industrial materials products company in China with products capable of withstanding high temperatures, saving energy and boosting productivity in certain industries such as steel and oil, today announced that the Company has received approval to list its common stock on NYSE Amex and will begin trading on March 4, 2010. The Company will trade on NYSE Amex under the ticker symbol "CHGS."
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