Dallas, TX 11/15/2007 8:00:23 AM
Beacon Equity Research reports on the OTC and OTCBB Trade Leaders: China Organic Agriculture, Inc. (OTCBB: CNOA), Pacific WebWorks, Inc. (OTCBB: PWEB), Gemini Explorations, Inc. (OTCBB: GXPI), Ascendant Solutions, Inc. (OTCBB: ASDS) and GreenShif ...
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China Organic Agriculture, Inc. (OTCBB: CNOA)
Up 20.00% on Wednesday
Detailed quote: http://beaconequityresearch.com/CNOANovember 14, 2007 - China Organic Reports Record Financial Performance for Q3 2007
China Organic Agriculture, Inc. (OTCBB:CNOA), a growth-driven agricultural and products company leading China's organic foods revolution, today reported the Company's revenues and earnings for the quarter ended September 30, 2007. Revenues for the third quarter of calendar year 2007 were approximately $22 million, an increase of 1,357% over the comparable period the previous year. The Company also reported earnings of approximately $7 million, an increase of approximately $6.6 million or 1,156% over the comparable period the previous year.
CNOA said the Company's record growth in Q3 2007 was the result of its successful initiatives to increase production capacity, production output and consumer brand awareness, as well as new distribution agreements with some of China's largest retail distribution systems.
"China Organic continues to prove that we are a growth driven company with a commitment to building value for our shareholders," said Huizhi Xiao, Chairman of China Organic Agriculture. "The future looks very positive for China Organic and we feel confident that our business strategies will sustain our exceptional growth in the months and years ahead."
The Company also reported that revenues for the nine months ending September 30, 2007, surpassed $28.8 million, an increase of approximately $23.2 million or 419% over the $5.5 million for the comparable period in 2006. Earnings for the nine months ending September 30, 2007, were approximately $9.6 million, an increase of approximately $7.5 million or 360% increase over the comparable period in 2006. The increase of $7.5 million in earnings for the period is due to the expansion of the Company's sales and distribution channels, which it achieved while keeping operating expenses steady.
CNOA has two wholly owned subsidiaries which it acquired in March 2007: China Organic Agriculture, Ltd. ("COAL"), which was incorporated in the British Virgin Islands in 2006, which owns Jilin Songyuan City ErMaPao Green Rice Ltd (ErMaPao), established under the laws of the People's Republic of China in 2002. Through its subsidiaries, the Company is engaged in the business of rice production and processing, and the growth of the business since the acquisition is highlighted by the increase in the results of operations today compared to the results of operations in the correlative periods prior to the acquisition.
Pacific WebWorks, Inc. (OTCBB: PWEB)
Up 15.79% on Wednesday
Detailed quote: http://beaconequityresearch.com/PWEBNovember 14, 2007 - Pacific WebWorks Comments on Progress Made in 2007
Pacific WebWorks, Inc. (OTCBB:PWEB) today commented on the progress made year to date. Pacific WebWorks is a vendor of e-commerce software that enables small- to medium-sized businesses to transact business over the internet.
The cornerstone of our business continues to be internet software technologies where the company President, Christian Larsen, and his staff of engineers continue to manage, maintain and further develop our suite of products and services.
Where the company is experiencing the most significant progress this year is in the sales and marketing of its core products. The development of our online marketing campaigns has been invaluable to our business progress. Our state-of-the-art accounting and fulfillment systems have enabled us to service the growth of our customer portfolio to nearly 40,000 active customers with sufficient bandwidth and hands-on technology to support growth well into the future. We anticipate the release of several new and exciting marketing campaigns over the next several months.
CEO Ken Bell stated, "We are very proud of our current accomplishments. As you can see from this progress, the company continues to experience significant success and growth in its business model and its new marketing approach. We have many employees and shareholders who have been with us for many years. We are grateful for their continued support as we move our company forward. We look forward to the continuing future success of the company as we now focus on delivering shareholder value."
Gemini Explorations, Inc. (OTCBB: GXPI)
Up 12.68% on Wednesday
Detailed quote: http://beaconequityresearch.com/GXPINovember 14, 2007 - Gemini Explorations, Inc. Reports on Financing Options for Re-Development of the Los Chorros Gold Mine
Gemini Explorations, Inc. ("Gemini") (OTCBB: GXPI) is pleased to report that it has received numerous enquiries and offers to finance the modernization and complete re-development of the Los Chorros Gold Mine. Gemini has received investment finance offers from both institutional and individual investors in North America and the European Union. The company is also discussing an equity interest in the project with a major equipment supplier in order to keep start up costs as low as possible. Gemini's intentions are to keep equity dilution as low as possible as it considers the financing options.
Current mining operations at Los Chorros recover a low percentage of the available gold and precious metals present on the property. Gemini's plans are to completely modernize the mine; the plant would initially run at 30 to 50 tonnes/day with a targeted production rate of 100 tonnes per day during the first year. The total cost of the project is estimated to be US $595,900; adding a contingency factor of 30% would bring the maximum projected total to US $774,700. The reports were prepared by general manager Juan Fernando Restrepo and chief geologist Carlos Alberto Vera of Minera Primecap Geological Services (MPGS) of Medellin, Colombia.
On October 25, 2007 Gemini reported vein sample results averaging 41.94 g/tonne Au which has increased the projected production yield from 12 to 20 grams per tonne. MPGS reports that a 100 tonne per day production rate would produce US $1,080,280 monthly and over US $12,900,000 annually. These estimates are based on US $730 per ounce gold with US $200 per ounce operating and production costs netting US $530 per ounce.
Ascendant Solutions, Inc. (OTCBB: ASDS)
Up 31.11% on Thursday
Detailed quote: http://beaconequityresearch.com/ASDSNovember 14, 2007 - Ascendant Solutions, Inc. Announces Third Quarter 2007 Earnings
Ascendant Solutions, Inc. (OTCBB:ASDS) today announced its third quarter 2007 earnings. Consolidated revenue for the quarter increased approximately 23.2% to $15,138,000, compared to consolidated revenue of $12,284,000 in the third quarter of 2006. Consolidated net income for the quarter increased significantly to $892,000 compared to a loss of ($8,000) for the same period in 2006, resulting in net earnings per share ("EPS") of $0.04 compared to the third quarter 2006 loss of less than ($0.01) per share. In addition, the Company's third quarter EBITDA was in excess of 3 times the EBITDA of the third quarter of last year, increasing to $1,350,000 from $387,000. (See tables below entitled Results of Continuing Operations and Reconciliation of GAAP Financial Measures to Non-GAAP Financial Measures for a reconciliation of net income (loss) to EBITDA on a GAAP basis.)
For the nine months ended September 30, 2007, the Company reported consolidated revenue of $43,980,000, an increase of approximately 13.4% over the $38,777,000 reported in the comparable period of 2006. Net income for the period was $1,544,000, or an EPS of $0.07, as compared to a net loss of ($331,000), or ($0.01) per share, reported during the first nine months of 2006. EBITDA for the nine months of 2007 increased approximately 314% to $2,694,000 from $650,000 reported in the comparable period of 2006.
David E. Bowe, President & CEO, commented, "The main factors of our positive third-quarter results include improved profitability from our real estate segment due to increased commissions from tenant representative services, and a non-cash adjustment in the corporate/other portion of our business relating to a gain booked at Fairways Frisco. These factors were partially offset by losses at Park InfusionCare, which was sold on November 7, 2007, from our healthcare business which had increased revenues, but which was also impacted by higher operating costs associated with labor costs. The substantial improvement in both net income and EBITDA demonstrates our management's commitment to increasing long-term shareholder value."
Mr. Bowe continued, "Further, the recently announced sale of Park InfusionCare is an example of the strategic cycle of making an investment, improving the value of that investment, then completing a sale in order to realize value for our company and our stakeholders. We will use the proceeds of the Park sale for general corporate purposes and to help fund future acquisitions."
Key measures used by the Company's management to evaluate business segment performance include revenue, cost of sales, gross profit, investment income and EBITDA. EBITDA is calculated as net income before deducting interest, taxes, depreciation and amortization. Although EBITDA is not a measure of actual cash flow because it does not consider changes in assets and liabilities that may impact cash balances, the Company believes it is a useful metric to evaluate operating performance and has therefore included such measures in the discussion of operating results.
GreenShift Agrifuels (OTCBB: GSGF)
Up 15.00% on Wednesday
Detailed quote: http://beaconequityresearch.com/GSGFNovember 14, 2007 - GreenShift Agrifuels and Global Ethanol Form Corn Oil Biodiesel Joint Venture
GreenShift Agrifuels (OTCBB: GSGF) and Global Ethanol, LLC today announced the execution of agreements to extract about 10 million gallons per year of crude corn oil from the distillers grain co-product of Global Ethanol's 100 million gallon per year ethanol facility in Lakota, Iowa and 57 million gallon per year ethanol facility in Riga, Michigan, and to convert the extracted corn oil into biodiesel at Global Ethanol's Lakota facility.
Under the terms of the agreements, GS AgriFuels Corporation and Global Ethanol formed a jointly owned company called GS Global Biodiesel, LLC to build, own and operate the Lakota, Iowa-based biodiesel facility. The GS Global Biodiesel facility will be initially sized for 10 million gallons of biodiesel production per year but will be designed to scale up to 30 million gallons per year in coordination with the onset of production of nearby corn oil extraction systems that are installed by GS AgriFuels' parent company, GS CleanTech Corporation.
GS CleanTech's patent-pending corn oil extraction system is designed to extract crude corn oil out of the distillers dried grain co-product of the dry mill ethanol production process. This crude corn oil has been proven to be an excellent biodiesel feedstock with the proper processing. GS CleanTech executed a development agreement with Global Ethanol and GS Global Biodiesel to build and install corn oil extraction systems at Global Ethanol's Lakota and Riga ethanol facilities and to design and build the GS Global Biodiesel facility.
GS AgriFuels will raise and provide the financing for the construction of the corn oil extraction systems at Global Ethanol's Lakota and Riga ethanol facilities, as well as the financing for the construction and operation of the GS Global Biodiesel facility. Global Ethanol will manage and operate the GS Global Biodiesel facility and market all of the biodiesel produced. GS AgriFuels has recently engaged an investment banker to raise the estimated $35 million needed for the project. The parties expect that the first tranche of financing, which will support the construction and installation of two extraction systems in Lakota and one extraction system in Riga, will close in December 2007. The GS Global Biodiesel facility is expected to be commissioned beginning during the fourth quarter of 2008.
Trevor Bourne, the chief executive officer of Global Ethanol, said that "We are very excited by the formation of GS Global Biodiesel. Global Ethanol is a leading producer of renewable fuels and is committed to increased production efficiencies and diversifying our commodities mix. GreenShift's corn oil extraction and biodiesel production technologies have proven themselves to be the best solution available to achieve this. We are looking forward with great anticipation to the construction of GS Global Biodiesel and to exploring expanded opportunities to work with GreenShift in the future."
"Global Ethanol is clearly committed to technology-driven production improvements and is a key strategic partner for GreenShift," added Kevin Kreisler, GreenShift's chief executive officer. "In addition to converting the 10 million gallons of corn oil that we extract from Lakota and Riga into biodiesel, we plan to ship an additional 20 million gallons of corn oil as we bring extraction systems online at nearby ethanol facilities to GS Global Biodiesel for conversion as well. Global Ethanol's team will run the facility and market the biodiesel and their expertise in commodities management and operations will make a facility of this scale an exciting and successful project."
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