Dallas, TX 11/9/2007 2:08:33 AM
OTCPicks.com Daily Market Movers Digest Midday Report for November 8th ETLC, HPLF, NTWK, GBRC
Our Stocks to Watch today include Etelcharge.com (OTCBB: ETLC), HepaLife Technologies, Inc. (OTCBB: HPLF), NetSol Technologies Inc. (NASD: NTWK), Global Resource Corp. (OTC: GBRC)
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ETELCHARGE.COM INC (OTCBB: ETLC)
"Up 9.09% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/ETLC.php
View Profile: http://www.otcpicks.com/etelcharge.com/etelcharge.htm
Etelcharge.com (OTCBB: ETLC), the first Web 2.0 online payment system, provides online shoppers the ability to charge approved transactions to their telephone bill. While addressing the concerns online shoppers have about identity fraud and identity theft, the Etelcharge payment option is also a perfect match for the millions of individuals without a credit card, or even a bank account. For more information, go to www.etelcharge.com.
ETLC News:
November 8 - Etelcharge Enters Payment Services Agreement With Elite Force
Company Enters Consumer Electronics Installation and Support Industry With Nationally Expanding Leader and Meets With Senior Management as Netflix, Real Networks, CinemaNow, UniVision and Movielink
Etelcharge.com, Inc. (OTCBB: ETLC), the new online way to pay(TM), today announced that the Company has signed an agreement with Elite Force, of Falls Church, VA, the successor to Tech Force One and one of the top independent providers in the multi-billion dollar PC and consumer electronics installation and support industry.
John Todd, Senior Vice President of Business Development, stated, "I am pleased to report that Etelcharge has signed a payment services agreement with one of the country's top electronics installation and PC repair companies. Elite Force, with 200 locations today and expanding to 1,000 locations in 2008, is similar to Fire Dog and Geek Squad, in that they install high-end multimedia systems and networks in homes, as well as providing the full array of support services for consumer electronics and PCs. Etelcharge members will be able to pay for Elite Force services using their Etelcharge membership. We expect this program to come online for our members in early 2008."
John Todd concurrently announced that during his recent trip to California attending the Digital Hollywood Show, he engaged in substantive talks with a select group of elite players in the digital music and movie downloads space including Netflix, Real Networks (Rhapsody), CinemaNow, UniVision, and Movielink.
"I was able to successfully establish the huge importance of our target customer to their continued growth. Reinforcing to the executive management teams of these companies that Etelcharge not only brings a unique and enticing Web 2.0 payment system but also brings a whole new set of new customers, that is growing by the day, who will be spending new money with them that they are not getting today. The impact to their bottom line garnered exceptional levels of interest," Todd concluded.
HEPALIFE TECHS (OTCBB: HPLF)
"Up 18.33% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/HPLF.php
HepaLife Technologies, Inc., a development stage biotechnology company, focuses on the identification and development of technologies and products for liver toxicity detection; products for the treatment of various forms of liver dysfunction and disease; and cell based technologies vaccine production. The company, through a cooperative research and development agreement with United States Department of Agriculture's Agricultural Research Service, focuses on developing a cell-supported artificial liver device, in-vitro toxicology and pre-clinical drug testing platforms, and a cell-based vaccine production system. It primarily focuses on optimizing the hepatic functionality of the patented porcine cell line, PICM-19 cell line. The PICM-19 cell line, grown in-vitro, can synthesize liver specific proteins, such as albumin and transferrin, and display enhanced liver-specific functions, such as ureagenesis and cytochrome P450 activity. HepaLife Technologies, through a research agreement with Michigan State University, also focuses on optimizing the functionality of a chicken cell line, and subclones called PBS-1 Cell Line for use in cell-based influenza vaccine production. The company was founded in 1997. It was formerly known as Zeta Corporation and changed its name to HepaLife Technologies, Inc. in 2003. HepaLife Technologies is based Boston, Massachusetts.
HPLF News:
November 8 - HepaLifeTM Announces Exclusive License Agreement with U.S. Government Agency for Liver Cell Lines
HepaLife Licenses Improved Hepatocyte Cell Lines for Use in Bioartificial Liver System From U.S. Department of Agriculture
HepaLife Technologies, Inc. (OTCBB: HPLF) (FWB: HL1) (WKN: 500625) announced that the Company has entered into an exclusive license agreement with the U.S. Department of Agriculture, Agricultural Research Service (USDA, ARS) for the use of patented liver cell lines in artificial liver devices and in-vitro toxicological testing platforms.
The terms of the agreement cover specific patents and the PICM-19 hepatocyte cell lines. Financial details were not disclosed.
NETSOL TECHNOLOGIES (NASD: NTWK)
"Up 19.19% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/NTWK.php
NetSol Technologies is a multinational provider of IT services and enterprise solutions to the financial services industry. By utilizing its worldwide IT design, development, quality assurance (QA), and project management resources, NetSol delivers high-quality, cost-effective portfolio management solutions for equipment and vehicle finance, as well as IT services ranging from consulting and application development to systems integration and development outsourcing. NetSol's commitment to quality is demonstrated by its achievement of both the ISO 9001 and SEI (Software Engineering Institute) CMMi (Capability Maturity Model) Level 5 assessments, a distinction shared by fewer than 100 companies worldwide. NetSol Technologies' clients include Fortune 50 manufacturers, global automakers, financial institutions, technology providers, and governmental agencies. Headquartered in Calabasas, California, NetSol Technologies has operations and/or offices in London, San Francisco, Adelaide, Beijing, Bangkok and Lahore, Pakistan. To learn more about NetSol Technologies Inc., visit www.netsoltek.com.
NTWK News:
November 8 - NetSol Technologies Reports Record Revenue and Net Income for Fiscal First Quarter 2008
GAAP Net Income Increased to a Record $1.8 Million, or $0.08 per Share; EBITDA Increased to a Record $2.8 Million, or $0.12 per Share; Revenue Increased 48% Year-Over-Year to a Record $8.7 Million
NetSol Technologies Inc. ("NetSol") (NASD: NTWK), a multinational provider of IT services and enterprise software to the financial services industry, announced financial results for the fiscal first quarter 2008, ended September 30, 2007.
Fiscal First Quarter 2008 Financial Highlights:
Revenues increased 48% year-over-year to a record $8.7 million
Services increased 73% year-over-year to $5.2 million
License fees increased 21% year-over-year to $1.9 million
Maintenance fees increased 22% year-over-year to $1.6 million
Gross margin increased to 61% compared to 50% in the prior year period
Operating income improved to $2.2 million compared to an operating loss of $0.2 million the year before
GAAP net income increased to a record $1.8 million, or $0.08 per share, versus a loss of $1.3 million or minus $0.08 per share the year before
EBITDA increased to a record $2.8 million, or $0.12 per diluted share
Full year fiscal 2008 organic revenue growth forecasted to be 25 percent to 30 percent above fiscal year 2007 levels
Najeeb Ghauri, chairman and chief executive officer of Netsol, stated, "Fiscal year 2008 begins on a strong foundation as revenue, GAAP net income and EBITDA each set new all-time record highs driven by robust double digit growth in services, license sales and maintenance fees. Growth within our IT consulting services business was especially strong as we continue to expand our range of vertical market expertise, as evidenced by our entrance into the fast growing market for Hospital Management Systems (HMS) with a new contract engagement with a major public sector hospital. While new contracts wins and expanded relationships with existing customers supported our impressive top line expansion, the results of our operating efficiency initiatives, and the leverage we are gaining internally from our offshore development resources, were equally impressive. Improved global operating efficiencies allowed us to reduce our total quarterly operating expense while driving top line revenue growth 48% over the same period. Overall, we are extremely pleased with our fiscal first quarter performance which supports our optimism for full year growth in revenues and profitability for fiscal 2008."
NetSol Technologies Inc. reported record consolidated revenues of $8.7 million for the first quarter of fiscal year 2008, a 48% increase compared to the $5.9 million in revenues reported for the same period in fiscal year 2007. Consolidated gross profit for the first quarter was approximately $5.2 million, an increase of 78% as compared to the prior year. Gross margin for the first quarter of fiscal year 2008 was 61% compared to 50% in the prior year period.
GAAP (Generally Accepted Accounting Principles) net income for the first quarter of fiscal year 2008 was a record $1.8 million, or $0.08 per basic and diluted share, compared to a GAAP net loss of $1.3 million, or ($0.08) per basic and diluted share, reported in the first quarter of fiscal year 2007. EBITDA for the first quarter was a record $2.8 million, $0.13 per basic share or $0.12 per diluted share, compared to negative EBITDA of $353 thousand, or a loss of ($0.02) per basic and diluted share, in the first quarter of fiscal year 2007.
EBITDA is defined as earnings before interest, taxes, depreciation and amortization. The Company uses EBITDA as a measure of the Company's operating trends. Investors are cautioned that EBITDA is not a measure of liquidity or of financial performance under Generally Accepted Accounting Principles (GAAP). The EBITDA numbers presented may not be comparable to similarly titled measures reported by other companies. EBITDA, while providing useful information, should not be considered in isolation or as an alternative to net income or cash flows as determined under GAAP. Consistent with the SEC Regulation G, the non-GAAP measures in this press release have been reconciled to the nearest GAAP measure, and this reconciliation is located under the financial table heading "Reconciliation to GAAP."
NetSol ended the fiscal first quarter of 2008 with approximately $4.8 million dollars in cash and cash equivalents.
Fiscal First Quarter 2008 Business Highlights:
Appointed Mitch Van Wye vice president of development and chiefoperating officer for NetSol North America and Alexa Bradley as head of U.S. sales for NetSol North America
Restructures management team in UK operation
Global NetSol corporate rebranding initiative completed among key geographic regions: NetSol Asia Pacific, NetSol North America and NetSol EMEA
IT services contract win from a major public sector hospital highlights NetSol's penetration into Hospital Management Systems (HMS)
NetSol awarded the contract for the implementation of the Motor Vehicle Registration System (MVRS) for all the 34 districts of the province of Punjab, Pakistan
Blue-chip motor finance company in Australia licenses LeaseSoft's Retail Finance Solution
BMW financial services CEC Finance Hong Kong division went live with NetSol's LeaseSoft Retail solution
Latest edition of LeasePak 6.0 released for general availability
Signed a LeasePak contract with a multinational construction equipment manufacturer's finance captive in the U.S. for rollout of the company's equipment and vehicle dealership leasing worldwide
Signed a new software license and system implementation contract with a Fortune 50 blue-chip worldwide IT provider to support the company's equipment leasing operations globally
Expanded client relationships with Key Bank, Yamaha Motor Finance, Pentech Finance and a major equipment company
Established an ISV partnership with a global Fortune 50 IT provider
The Company's subsidiary, NetSol Technologies, Ltd, a Pakistani company listed on the Karachi Stock Exchange (Symbol: NETSOL), released its September 30, 2007 fiscal first quarter 2008 results on October 31, 2007. These results may be found on the Karachi Stock Exchange website www.kse.com.pk. The subsidiary's results represent only a portion of the Company-wide results.
GLOBAL RESOURCE CORP (OTC: GBRC)
"Up 17.35% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/GBRC.php
Global Resource Corp., (OTC: GBRC), is a developer of a patent-pending microwave technology and machinery that extracts oil and petroleum products from shale deposits, tar sands, capped oil wells, bituminous coal and processed materials such as tires and plastics as well as dredged soil from harbors and river bottoms. Its process produces significantly greater yields and lower costs than are available using existing technologies. Because the process takes place in an enclosed environment it is emission-free and an efficient and cost-effective tool for cleaning environmental wastes and toxic materials. For more information, visit www.globalresourcecorp.com.
GBRC News:
November 8 - Global Resource Corp. Receives First-Stage Order for Arizona Tire Recycling Plant That Will Use its Fuel-Recovery Machinery
Major Project to Produce Gas, Oil, Steel and Carbon Black from Shredded Tires in the Company's Emission-Free Process
Global Resource Corp. (OTC: GBRC), a developer of a patent-pending microwave technology and machinery for extracting oil and gas, announced today that it has received a purchase order from ECO Energy to draft site specifications for a tire recycling plant, based in Mobile, AZ, that will use the company's revolutionary microwave machinery to recover fuel and other products from the tires.
Placentia, Ca.-based ECO Energy said the plant will convert 300 tons of tires per day into gas, oil, steel and carbon black. The company reported that the tires are being supplied under agreements from the States of California, Arizona and New Mexico. Furthermore, it already has agreements to purchase the fuel and other products, which are reusable, of commercial value and in demand by industry. ECO Energy is a joint venture of Placentia, CA- based Huntington Renewable Energy and Maricopa, AZ-based Envirotech Industries International.
Global Chairman Frank Pringle explained that the order is the initial phase of this project, which will be the company's largest project so far, incorporating two, or possibly three, of the company's Hawk-10 machines, which sell for about $5 million each.
"By recycling tires to produce marketable energy and other by-products, this plant will show the world that Global Resource's technology is both cost- effective and environmentally friendly. Not only will the plant rid these states of toxic old tires in an emissions-free process, but it will generate the fuel to run the plant and produce a profit as well from the sale of the fuel and other byproducts," said Pringle.
"Our technology," added Pringle, "has the capability of eventually making the United States energy independent."
Time Magazine this week named the company's microwave technology as one of the "Best Inventions of the Year." In its annual round up of "Best Inventions of the Year," Time selected 46 inventions in 12 categories, from Cars & Buses to Health. Global Resource's microwave technology is listed in the environment category.
Pringle also noted that in a report made in June that was released July 17, the U.S. Department of Energy profiled Global Resource and its microwave technology for oil shale recovery as a resource for making the U.S. energy independent. Being selected as one of only twenty-seven companies, some of them in the Fortune 100, further validates Global Resource's capabilities for energy recovery.
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