Dallas, TX 11/15/2007 1:53:21 AM
OTCPicks.com Daily Market Movers Digest Midday Report for November 14th SPNG, GLLK, WRNW, ITRO
Our Stocks to Watch today include SpongeTech Delivery Systems, Inc. (OTCBB: SPNG), Global Links Corp. (OTC: GLLK), Well Renewal, Inc. (OTC: WRNW), Itronics Inc. (OTCBB: ITRO)
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SPONGETECH DELIVERY SYSTEMS (OTCBB: SPNG)
Detailed Quote: http://www.otcpicks.com/quotes/SPNG.php
Company Profile: http://www.otcpicks.com/spongetech/spongetech.htm
SpongeTech Delivery Systems is a development stage company which designs, produces, markets and distributes cleaning products for vehicular use utilizing patented technology relating to sponges containing hydrophilic (liquid absorbing) foam polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, which is loaded with specially formulated soaps and wax that are released when the sponge is applied to a surface with minimal pressure. The Company's products are currently designed specifically for vehicular cleaning use. However, the Company is exploring the possibility of using its patented technology for the development of sponges for other uses, including for use with anti-bacterial, bath and kitchen soaps for household uses, as well as for use as a children's bath foam sponge.
SPNG News:
November 13 - SpongeTech Delivery Systems, Inc. Is Approved for Trading on the 'Open Market' Segment of the Frankfurt Stock Exchange
SpongeTech Delivery Systems, Inc. (OTCBB: SPNG) announced that it has been granted permission to trade its shares on the Open Market Segment of the Frankfurt Stock Exchange. The Frankfurt trading symbol will be "KBT.F" and the German securities code (WKN) will be A0MR0J.
SpongeTech Delivery System's CFO Steven Moskowitz commented, "We are very pleased to have been approved for trading on the Frankfurt Stock Exchange. The Frankfurt Exchange will make obtaining our shares less problematic for German and European potential stockholders and will provide substantially improved liquidity in our common stock overall."
Mr. Moskowitz said: "Additionally, We are striving to enhance our corporate visibility in Germany and expand our corporate image to a broader investor community in Europe. We believe that the Frankfurt Stock Exchange listing will assure that our compelling story will now reach a much larger European investor audience."
About the Frankfurt Stock Exchange
The FWB Frankfurter Wertpapierborse is the world's third largest organized Exchange-trading market in terms of turnover and dealings in securities. It accounts for more than 75 percent of the total securities turnover in Germany and is therefore the most important of the eight German stock exchanges. The public guarantor of the FWB is the Deutsche Borse AG whose duty it is to ensure the full viability of trading in securities. With the support of state- of-the-art computer-based trading, processing and information systems the Frankfurt Stock Exchange has been able to keep pace with the ever-increasing demands of the international stock market business. There is a full spectrum of computerized security trading available through Xetra® in addition to the traditional floor trading. Xetra® was established in November 1997 and has enabled the FWB to consolidate its existing competitive edge and create an attractive framework for international investors and market participants. The cosmopolitan atmosphere Frankfurt enjoys is demonstrated in the membership structure of the stock market where more than 70 foreign banks and financial service companies are counted among the total of more than 330 members.
GLOBAL LINKS CORPORATION (OTC: GLLK)
"Up 100.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/GLLK.php
Global Links Corp. is a diversified company which has operations in Nevada, where it holds a commercial office building, Real Estate Gallerie, ltd., a full service real estate brokerage firm, and in Arizona where it holds approximately 1000 residential lots located in Kingman, Ariz., where it plans to build energy efficient, affordable, senior housing, and is developing affordable housing for the international community. In addition, the company is completing its R-E-Info.net foreclosure information website.
GLLK News:
November 14 - Global Links Corp. Approves Plan to Sell Kingman Real Estate for 8 to 10 Million Dollars
Global Links Corp. (OTC: GLLK) announced that the board of directors has approved a plan to sell its real estate holdings in Kingman, Arizona. The sales price will be between 8 to 10 million dollars, depending on the structure of the sale. At the present time, the company is negotiating with several developers that have expressed a strong interest in purchasing the property. "We feel that continuing to hold this property through this transition in the real estate market will not give us the best return, compared to the many lucrative opportunities that we see as a possibility with the cash proceeds this transaction gives us," stated Frank Dobrucki, CEO of Global Links. Global Links Corp. will now focus on running a full service real estate brokerage called the Real Estate Gallerie in Las Vegas, as well as participating in various development and acquisition projects.
WELL RENEWAL INC (OTC: WRNW)
"Up 40.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/WRNW.php
Well Renewal, Inc., headquartered in Tulsa, Oklahoma, is principally engaged in oil and gas exploration as well as enhancement and recovery of abandoned and low production oil properties, and oil field services, and is actively acquiring businesses in the oil and gas industry.
WRNW News:
November 14 - Well Renewal Announces Stock Dividend
Well Renewal, Inc. (OTC: WRNW), an emergent, rapidly growing diversified oil and gas regional operator specializing in oil and gas exploration, enhanced recovery methods of abandoned, low-production oil properties, and oil field services, is pleased to announce a dividend for all shareholders of record as of December 3, 2007. According to the details of this dividend, each shareholder shall receive one share of Diversified Oil and Gas Holdings, Limited (OTC: DVFI) for every sixteen shares of WRNW owned as of December 3, 2007.
David Rees, WRNW CEO, stated, ``We feel that this dividend enhances shareholder value for each of our shareholders.'' Mr. Rees continued, ``This marks the beginning of an exciting partnership with DVFI that we anticipate will enrich the value of WRNW.''
About Diversified Oil & Gas Holdings, Ltd.
Diversified Oil & Gas Holdings Limited is a diversified investment venture capital firm. Its principal business is focused on exploiting and distributing domestic oil and gas reserves. The domestic fuel market is presently estimated to exceed $10 billion.
ITRONICS INC (OTCBB: ITRO)
"Up 33.33% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/ITRO.php
Itronics, through its subsidiary, Itronics Metallurgical, Inc., is the only company in the world with a fully permitted "Beneficial Use Photochemical, Silver, and Water Recycling" plant located in the United States which can convert used photoliquids into pure silver and liquid fertilizers. At the Company's Reno, Nevada factory more than 99 percent of the silver and virtually all the other toxic heavy metals are extracted from used photoliquids. The purified liquids are converted into environmentally beneficial, chelated, micronutrient and multinutrient liquid fertilizers sold under the GOLD'n GRO trademark. The silver is refined and sold as bullion and 5 troy ounce, 0.999 pure, Silver Nevada Miner numismatic bars. The environmentally friendly liquid fertilizers can be used for lawns and houseplants, and are available, along with GOLD'n GRO liquid fertilizer injectors, at the Company's "e-store" catalog at goldngro.com. The popular Silver Nevada Miner bars are available at the Company's "e-store" catalog at www.itromet.com. Headquartered in Reno, Nevada, Itronics Inc. is a "Creative Environmental Technology" company and a world leader in photochemical recycling. The Company also provides environmentally compatible mining technology development, project planning, and technical services to the gold mining industry and operates the popular InsideMetals.com web site, www.insidemetals.com. which provides a value-added WORLD VIEW of Gold Producer Stocks, Mineral Producer Stocks, Junior Gold Stocks, and Junior Mineral Stocks. Itronics has received numerous domestic and international awards that recognize its ability to successfully create and implement new environmentally compatible recycling and fertilizer technologies.
ITRO News:
November 14 - Itronics Increases Third Quarter 2007 Sales by 82 Percent, Nine Months Sales Increase 36 Percent
Itronics Inc. (OTCBB: ITRO; Frankfurt and Berlin Stock Exchanges: ITG) has filed its third quarter 2007 report on Form 10QSB, and it is now available on the SEC web site at sec.gov. In the third quarter ended September 30, 2007, the Company achieved an 82 percent increase in sales, and a $17,152 gross profit compared to a $11,882 gross operating loss the 2006 third quarter, an improvement of $29,034.
"This is the first time Itronics has achieved a positive gross profit in the third quarter which is normally the lowest sales quarter of the year," said Dr. John Whitney, President. For the nine month period ended September 30, gross profit was $151,934 compared to a gross profit of $121,164 for the same period in 2006, an increase of 25 percent.
A $544,325 net profit was generated in the third quarter. Nine month net loss was reduced to $1,159,645, a reduction of 63 percent. The third quarter net profit and nine month reduction in net loss are due to a reduction in the "loss on derivative instruments," calculated as required by current accounting standards.
Demand for the Itronics' environmentally beneficial recycling services is increasing as restrictions on alternative methods of liquid photochemical disposal continue to tighten throughout the United States. The Company is currently negotiating two additional waste photochemical processing agreements that when completed are expected to provide sufficient photoliquids to support GOLD'n GRO liquid fertilizer and GOLD'n GRO Guardian deer repellent fertilizer sales growth in 2008 and beyond.
Mining Technical Services sales increased by 152 percent in the third quarter as this division continues to advance its web based InsideMetals.com Gold Producer Stocks information portal: http://www.insidemetals.com. Visitor traffic on the InsideMetals.com web page is continuing to increase and the site is beginning to generate subscription income. The Company is now actively marketing paid advertising programs on the web site to Gold & Minerals Exploration Companies.
Itronics continued to expand its development of future revenue streams in the mining segment through approval by its Board of Directors to establish two new subsidiaries. One subsidiary will develop the photochemical based thiosulfate technology for use for mineral extraction, including mine tailings, and reclamation of gold heap leach operations. The other subsidiary will acquire multi-mineral properties and invest in strategic small specialty companies that are in early stage or commercial operation. "The Company's Board of Directors believes that forming and activating these new subsidiaries will allow it to monetize more of its intellectual property and produce a greater increase in income and asset growth for Itronics' shareholders," Dr. Whitney said.
Third quarter operating loss increased 50 percent compared to the prior year, principally due to a combination of the effects of the increased corporate marketing and financing expenses.
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