Dallas, TX 11/10/2007 2:54:04 AM
OTCPicks.com Daily Market Movers Digest Midday Report for November 9th VSUR, UVSE, DUSA, TNRI
Our Stocks to Watch today include Vsurance, Inc. (OTCBB: VSUR), Universal Energy Corp. (OTCBB: UVSE), DUSA Pharmaceuticals, Inc. (NASD: DUSA), Titan Resources International Inc. (OTC: TNRI)
Visit http://www.otcpicks.com to register for our Daily Market Mover’s Digest Newsletter, and Email Stock Watch Alerts
VSURANCE INC (OTCBB: VSUR)
Detailed Quote: http://www.otcpicks.com/quotes/VSUR.php
Company Profile: http://www.otcpicks.com/vsurance/vsurance.htm
Vsurance is a leading provider of pet health insurance and other pet health-related services in the United States. Programs include its Get HIP™ Pet Health Insurance for Pets program, the most comprehensive full-coverage pet health insurance plan in the industry. Vsurance provides pet and horse resource centers through the Internet including VetpetMD™, Spot the Pet™, and Purrfect Pet Club™. Programs include life, liability, and health insurance for pets, horses, and other companion animals.
VSUR News:
November 9 - Vsurance, Inc. Expands Presence in Pet Health Insurance Marketplace Doubles Licensed Insurance Representatives in 17 States
Vsurance, Inc. (OTCBB: VSUR), a leading provider of pet health insurance, announced that as part of its ongoing commitment to increase public awareness of the importance of pet health insurance, and to increase its revenues, the Company has more than doubled its number of licensed insurance representatives to 94, in 17 States within the past week.
The news complements a previous announcement earlier this week in which Vsurance stated that the company had increased its number of its licensed insurance agents to 40.
Russell Smith, CEO of Vsurance, Inc. stated: “Earlier this week we announced that we appointed 40 licensed insurance agents to meet the growing demand for our pet health insurance products. It has become increasingly apparent that the positive public response and acceptance of our insurance products warranted appointing additional agents in various states around the country. I am very pleased to announce that we have more than doubled the number of our licensed insurance representatives. This is a true testament that our pet health insurance products are in high demand. We will continue to increase our personnel as our innovative products gain greater awareness throughout the marketplace.”
UNIVERSAL ENERGY CORP (OTCBB: UVSE)
Detailed Quote: http://www.otcpicks.com/quotes/UVSE.php
Company Profile:
http://www.otcpicks.com/universal-energy/universal-energy.htm
Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada, Louisiana and Texas. Visit www.universalenergycorp.info for more details.
UVSE News:
November 8 - Universal Energy Corp. to Begin Oil Production from Amberjack Prospect this Month
Universal Energy Corp. (OTCBB: UVSE) recently offered an update on the three recent successful drill programs at its Amberjack, Caviar #1, and Lake Campo prospects. "Completing these three wells and getting them into production is our top priority and it's occurring as we speak," stated Billy Raley CEO of Universal Energy Corp.
"Receiving revenue from the Amberjack well is exciting for the company and its stockholders; especially with oil continuing its climb to $100 per barrel," commented Dyron Watford, CFO of Universal Energy Corp. Watford continued "With each day that passes, the company is turning its drilling success in its last three drills into financial success for its stockholders."
Continuing its model of growth through the drill bit, Universal Energy Corp. is currently drilling two additional wells in southern Louisiana, East OMG and West Rosedale.
About the East OMG Prospect
The East OMG 3-D prospect is located in Cameron Parish, Louisiana. Wells adjacent to the prospect have produced outstanding returns such as Chalkley Miogyp field and S. Lake Arthur, which have cumulative production of 500 billion cubic feet equivalent ("BCFE") and 800 billion cubic feet, respectively. Production from the adjacent wells listed above is from the same Upper Miogyp sandstones that are the main objective of the East OMG Prospect. The combined reserve potential of the four principal objective sandstones that comprise the East OMG prospect is estimated to be greater than 59 BCFE.
About the W. Rosedale Prospect
The W. Rosedale 3-D prospect located in Iberville Parish, Louisiana. Numerous area fields, such as Happytown, Rosedale, Klondike, and Grosse Tete, have produced significant oil and gas from the Oligocene age objective sand section. Risk reduction for this prospect is from log and core shows in seven of the eight objective sands. The reserve potential for this prospect is 3.5 BCF and 910,000 BBLS.
DUSA PHARMACEUTICALS (NASD: DUSA)
"Up 6.47% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/DUSA.php
DUSA Pharmaceuticals, Inc., an integrated dermatology pharmaceutical company, develops and markets Levulan photodynamic therapy (PDT) and other products for common skin conditions. Its products include Levulan Kerastick 20% Topical Solution with PDT and the BLU-U brand light source for the treatment of actinic keratoses of the face or scalp. Kerastick is a disposable applicator used for the rapid preparation and uniform application of Levulan topical solution in standardized doses. The BLU-U is used without Levulan to treat moderate inflammatory acne vulgaris and general dermatological conditions. The company is also developing Levulan PDT, a Phase II clinical trial product to treat photodamaged skin, moderate to severe acne vulgaris, Barrett's esophagus dysplasia using DUSA endoscopic light delivery system, and oral cavity dysplasia. In addition, the company is developing non-PDT drug products, including Nicomide, Nicomide-T, AVAR products, and Psoriatec for the treatment of acne vulgaris and acne rosacea, as well as psoriasis; ClindaReach; Meted Shampoo; and Psoriacap. The company was founded in 1991 and is based in Wilmington, Massachusetts.
DUSA News:
November 9 - DUSA Pharmaceuticals Reports Third Quarter 2007 Financial Results and Corporate Highlights
Revenues Total $5.8 Million; Bottom Line Improves 50%; Initial Latin American Orders Shipped; Nicomide(R) Lawsuit Settled; Company Enhances Cash Position
DUSA Pharmaceuticals, Inc. (NASD: DUSA), a dermatology company that is developing and marketing Levulan® photodynamic therapy (PDT) and other products targeting patients with common skin conditions, reported its corporate highlights and financial results for the third quarter ended September 30, 2007.
Total product revenues for the quarter were $5.8 million as compared to $6.1 million for the comparable 2006 period. PDT revenues totaled $3.5 million versus $3.2 million for the comparable 2006 period. The increase in PDT revenues was driven primarily by a 17% increase in U.S. Levulan® Kerastick® revenue. Non-PDT revenues totaled $2.3 million versus $2.8 million for the comparable 2006 period. Non-PDT revenues were primarily driven by the sales of Nicomide® which were adversely impacted by the presence of the River's Edge product, which re-entered the market as a result of the March 7, 2007 dissolution of a preliminary injunction.
Total product revenues for the nine-month period ended September 30, 2007 were $19.3 million as compared to $17.4 million for the comparable 2006 period. PDT revenues totaled $12.1 million versus $10.9 million in the comparable 2006 period. Non-PDT revenues totaled $7.2 million versus $6.5 million in the comparable 2006 period. Non-PDT revenues for 2006 represent the period following our merger with Sirius Laboratories, Inc.®, which occurred on March 10, 2006.
For the three-month and nine-month periods ended September 30, 2007, DUSA's net loss on a GAAP basis was ($1.9) million, or ($0.10) per common share, and ($7.7) million, or ($0.40) per common share, respectively. GAAP net losses for the comparable 2006 periods were ($3.8) million, or ($0.19) per common share, and ($13.1) million, or ($0.77) per common share. On a non-GAAP basis, the Company's net losses for the three-month and nine-month periods ended September 30, 2007 were ($1.4) million, or ($0.07) per common share, and ($6.6) million, or ($0.34) per common share, respectively. Non-GAAP net losses for the comparable 2006 periods were ($2.9) million, or ($0.15) per common share, and ($9.1) million, or ($0.53) per common share. Both the 2007 quarterly GAAP and non-GAAP net losses represent a 50% decrease from the prior year. Investors are encouraged to refer to the "Use of Non-GAAP Financial Measures" section and the accompanying financial table for a reconciliation of GAAP to non-GAAP information.
Third Quarter Highlights:
International Expansion
In late September, the first shipments of Levulan® Kerastick® were released to Argentina and Mexico where it was officially launched through DUSA's marketing and distribution partner for Latin America, Stiefel Laboratories, Inc. In Latin America, Levulan has regulatory approval in Argentina, Chile, Colombia, Mexico, and Brazil (where launch is pending receipt of acceptable pricing approval) with approvals and subsequent product launches in additional markets scheduled to follow shortly.
Product Development
Enrollment continues in DUSA's Phase IIb clinical trial of Levulan® PDT for the treatment of moderate to severe acne. To date, 13 clinical sites have accrued 149 patients.
Subsequent Events:
International Regulatory Approval
On October 3, 2007, the Company announced that the Korea Food and Drug Administration (KFDA) had approved Levulan® Kerastick® for Photodynamic Therapy (PDT) for the treatment of actinic keratoses through its marketing and distribution partner Daewoong Pharmaceutical Co., Ltd and its affiliate, DNC Daewoong Derma & Plastic Surgery Network Company (DNCompany). Having received approval, market launch is expected in the fourth quarter of 2007.
Legal Proceedings
On October 29, 2007, the Company announced that it had entered into a settlement and mutual release agreement to dismiss the lawsuit brought against River's Edge asserting a number of claims arising out of River's Edge's alleged infringement of the U.S. Patent under which DUSA has marketed, distributed and sold Nicomide®. Per the terms of the agreement, River's Edge has made a lump-sum settlement payment to DUSA for damages and will permanently cease the manufacture, distribution and sale of its nicotinamide product, NIC 750. DUSA has licensed to River's Edge four products from the AVAR® line which are non-strategic to DUSA in exchange for a royalty for three years, including a guaranteed minimum royalty.
Cash
On October 30, 2007, the Company announced that it had entered into definitive agreements with certain institutional investors for the private placement of 4,581,043 shares of its common stock at a purchase price of $2.40 per share resulting in gross proceeds to DUSA of $11.0 million. In addition, the Company has granted the investors warrants to purchase an additional 1,145,259 shares of common stock at a strike price of $2.85 per share. The Company will use the proceeds to fund working capital, further advance DUSA's Levulan PDT clinical development programs, and for activities associated with expanding the Company's market presence in the U.S.
Management Comments:
"We are pleased with the progress we are making with our Levulan PDT franchise," stated President and CEO Robert Doman. "Domestic Kerastick revenues are up 23% year-over-year, the product has been launched into Latin America, and approval has been received in Korea with expected product launch in the fourth quarter this year. In addition, enrollment is progressing nicely on our Phase IIb Acne trial."
"We are also pleased to have fully resolved the dispute with River's Edge. This settlement underscores DUSA's commitment to protecting its intellectual property. We look forward to increasing our Nicomide® revenue stream as ordering patterns return to normal levels", Doman continued.
"Lastly, the infusion of cash from the private placement helps us to strengthen our balance sheet and execute on our business plan as we position the Company for continued growth in 2008 and beyond," concluded Doman.
TITAN RESOURCES (OTC: TNRI)
"Up 46.67% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/TNRI.php
TITAN Resources International Inc. is a publicly traded resource exploration company dedicated to the acquisition, exploration and development of small to medium size precious metals properties of exceptional merit in North and South America. For more information, visit www.titan-resource.com.
TNRI News:
November 7 - The Silver Lining
Titan Resources International Inc. (OTC: TNRI) (Frankfurt: 36T1.F) recently updated shareholders on its plans for the Silver Centre Property:
To understand what we are attempting to do with the Silver Centre Property, you have to try to understand some of the fundamentals that drive the demand and supply relationships within the silver markets.
While we cannot address all of the mitigating circumstances and influences that affect the silver market, we can attempt to better educate and inform our existing shareholders, possibly attracting new ones. We have put together a brief overview of some of the main factors to consider when looking at the possibility of investing in silver, and the silver mining industry.
Take into account that overall global demand for silver continues to outpace supply.
The top uses for silver worldwide continue to be Industrial applications and fabrications, jewelry and photography, respectively.
Most of the world's silver production comes as the result of secondary recovery (silver is recovered secondarily, as the result of mining for other primary minerals, usually gold).
Peru is the largest producer of silver in the world, followed closely by Mexico and China. Canada ranks in the top 10 for global silver production.
Most of the world's silver is found in low grade, easily accessible ore. There are relatively few "High Grade" silver deposits, and even fewer silver mines that mine for silver as their primary metal.
And then there is the relationship that exists between silver and gold, and currency fluctuations.
"The question is simple yet potentially vexing to silver investors. Gold has now closed above $800 for the first time since January 17th, 1980. One may naturally ask what the price of silver was at that time and the answer would be $40. When investors demand silver as a dollar hedge, you can't just press a key on your computer and a 1000 oz bar of silver appears out of the ether. No it first has to be discovered, dug out deep from the ground, refined to 99.9% purity and then poured into investment grade bars which are shipped to warehouses. This is obviously not a trivial matter and hence firmly puts a supply bottleneck on silver availability. The result is a faster rising price of silver."
Dennis Wheeler, chief executive of Coeur d'Alene Mines, picked up on an expression much-used in the month and averred that silver and gold prices were heading into a perfect storm, by which he meant something good for silver. "Growing demand is running headlong into dwindling supply, at a time when the dollar is weakening and inflationary worries persist. Some production is coming off line, and the move by Grupo Mexico to close its Taxco silver and lead operation, after failure to resolve a lengthy industrial dispute, will see almost 1 million ounces annually removed from the market."
Jeff Hunter, Titan CEO, said, "We don't sell MP3 players, with a great marketing campaign every year. We're going to build mines; I think that is one of the things investors are starting to appreciate. Based on the historic prolific past production of the SCR property (more than 19 million ounces of silver, over 3 million pounds of cobalt), and the current plan being implemented on the property, we continue to be very optimistic about the possibility of discovering, and ultimately proving up, a significant new ore body. The recent appreciation in the price of silver only serves to cement our resolve in what we are doing."
ABOUT OTCPICKS.COM
OTCPicks.com is an Internet destination for investors seeking information on smallcap and microcap companies. The web site features companies in Profile Campaigns, Executive Interviews and Profile Research Reports authored by our financial writers. We publish a daily Newsletter to subscribers, and we publish our Daily Market Movers Digest which is sent out on the M2 Presswire several times daily highlighting hot OTC and OTCBB stocks. To feature a company on our web site or in our daily Newsletter or Market Mover’s Digest, please contact our publisher, Brian Dean at 972-546-3740, or via email at publisher@otcpicks.com.
Disclaimer:
Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. This disclaimer is to be read and fully understood before using our site, or joining our email list. PLEASE NOTE: The OTCPicks.com employees are NOT Registered as an Investment Advisor in any jurisdiction whatsoever.
Release of Liability:
Through use of this website viewing or using you agree to hold OTCPicks.com, its operators owners and employees harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damage (monetary or otherwise), or injury (monetary or otherwise) that you may incur. Neither the information presented nor any statement or expression of opinion, or any other matter herein, directly or indirectly constitutes a representation by the publisher nor a solicitation of the purchase or sale of any securities. OTCPicks.com has been compensated twenty five thousand free trading shares by a third party (Cohiba Partners) for VSUR advertising and promotional services. OTCPicks.com has been compensated eight thousand dollars by a third party (Stock Guru) for UVSE advertising and promotional services. For a complete list of disclosures go to http://www.otcpicks.com/disclosure_details.php. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. The owner, publisher, editor and their associates are not responsible for errors and omissions. They may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. Any opinions expressed are subject to change without notice. OTCPicks.com encourages readers and investors to supplement the information in these reports with independent research and other professional advice. All information on featured companies is provided by the companies profiled, or is available from public sources and OTCPicks.com makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies or the information contained herein. OTCPicks.com and its affiliates are not registered investment advisors or a broker dealers. OTCPicks.com has been advised that the investments in companies profiled are considered to be high risk and use of the information provided is at the investor’s sole risk. OTCPicks.com also advises that the purchase of such high risk securities may result in the loss of some or all of the investment. Investors should not rely solely on the information presented. Rather, investors should use the information provided by the profiled companies as a starting point for doing additional independent research on the profiled companies in order to allow the investor to form his or her own opinion regarding investing in the profiled companies. Factual statements made by the profiled companies are made as of the date stated and are subject to change without notice. Investing in micro-cap securities is highly speculative and carries an extremely high degree of risk. It is possible that an investor’s entire investment may be lost or impaired due to the speculative nature of the companies profiled. OTCPicks.com makes no recommendation that the securities of the companies profiled should be purchased, sold or held by individuals or entities that learn of the profiled companies through OTCPicks.com. OTCPicks.com owners may or may not hold positions in the companies that are profiled.
The information contained herein contains forward-looking information within the meaning of Section 27A of the Securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934 including statements regarding expected continual growth of the company and the value of its securities. In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 it is hereby noted that statements contained herein that look forward in time which include everything other than historical information, involve risk and uncertainties that may affect the company's actual results of operation. Factors that could cause actual results to differ include the size and growth of the market for the company's products, the company's ability to fund its capital requirements in the near term and in the long term, pricing pressures, unforeseen and/or unexpected circumstances in happenings, pricing pressures, etc. Investing in securities is speculative and carries risk. Past performance does not guarantee future results.
Third Party Web Sites and Information:
OTCPicks.com and newsletter may provide hyperlinks to third party websites or access to third party content. OTCPicks.com does not control, endorse, or guarantee content found in such sites. You agree that OTCPicks.com is not responsible for any content, associated links, resources, or services associated with a third party site. You further agree that OTCPicks.com shall not be liable for any loss or damage of any sort associated with your use of third party content. Links and access to these sites are provided for your convenience only.
