To sign up for our free research reports and newsletters, visit http://beaconequityresearch.com/. For more information on our research programs, please contact: Jeff Bishop at editor@beaconequityresearch.com
ECOtality, Inc. (OTCBB: ETLY) Up 17.50% on Thursday
Detailed quote: http://beaconequityresearch.com/ETLY
December 06, 2007 - ECOtality, Inc. to Acquire Minit-Charger
ECOtality, Inc. (OTCBB:ETLY), a renewable energy company that acquires and commercially advances clean electric technologies and applications, today announced the execution of a definitive agreement to purchase all assets and business of Minit-Charger, a subsidiary of Edison International, a NYSE-listed company, for $3 million in cash and stock. The acquisition of Minit-Charger, combined with the previous announced acquisitions of Electric Transportation Engineering Corporation (eTec), Innergy Power Corporation and Fuel Cell Store, will provide ECOtality a revenue base of companies having combined trailing twelve month revenues of $14.55 million for the period ending third quarter of 2007. ECOtality expects to close the acquisition within the next seven days.
Since its inception in 1998, Minit-Charger has generated over $40 million product sales and earned $5.16 million in revenues for the trailing twelve month period ending September 30, 2007. According to Frost & Sullivan, the North American industrial fast battery charger market revenues grew 16 percent from 2005 to 2006, and are expected to grow 17 percent from 2006 to 2007. The compound annual growth rate (CAGR) of the fast charger market is expected to reach 18.9 percent from 2006 to 2013. To continue to execute the company's strategic growth plan and to complete the Minit-Charger acquisition, ECOtality successfully raised $1.5 million of capital from institutional investors.
"The acquisition of Minit-Charger, as well as our previous acquisition of eTec, exemplifies ECOtality's strategy to acquire and advance revenue-generating companies with accretive technologies that reduce the environmental impacts of transportation and energy production," said Jonathan Read, president and CEO, ECOtality. "With the increased attention and growth in the electric vehicle market, we are committed to the commercial development of fast charging and clean electric propulsion systems and will explore additional transportation applications for the Minit-Charger and eTec Supercharge technologies."
eTec, a subsidiary of ECOtality, will manage all aspects of the Minit-Charger business after the acquisition. By combining the Minit-Charger line of battery fast chargers for lift trucks and material handling systems with the eTec SuperCharge(TM) line of battery fast chargers for airport ground support equipment, eTec will expand the company's fast charging product line and market share in the area of clean electric transportation and infrastructure solutions. Currently, the eTec SuperCharge technology provides battery fast charging systems used in airport ground support equipment, neighborhood electric vehicle operations, and marine and transit applications.
"By leveraging the synergies between the Minit-Charger and eTec SuperCharge technologies, we will increase our presence in the battery and fast-charge markets and aggressively explore and develop additional applications for plug-in hybrid and electric vehicle markets and infrastructures," said Don Karner, president, eTec. "With the resources of ECOtality, eTec will provide superior customer service to new and existing customers and supply our fast charge systems at the lowest possible cost as we further drive commercial adoption of clean fast charge technologies."
Minit-Charger is a fast battery charging system that enables a more environmentally-friendly, energy and cost efficient means of recharging forklifts and other mobile material handling equipment. Eliminating the need for petroleum-based fuels commonly used in material handling vehicles, Minit-Charger is a clean system that emits no harmful emissions. With 10 patents filed in the U.S., the Minit-Charger technologies are also well-suited for alternative fuel transportation applications, including plug-in hybrid and electric vehicle markets and infrastructures. The Minit-Charger system recharges batteries four- to six-times faster than conventional chargers, with battery life that is equal to or longer than those using traditional charging methods. Unlike conventional charging methods that require changing batteries after they are depleted, Minit-Charger can recharge batteries at opportune times, eliminating the need for vehicle operators to remove them from the truck during breaks and shift changes, resulting in enhanced worker safety, productivity and energy and battery cost savings.
Since the launch of Minit-Charger, the company has operated in excess of 25 million charger-shift hours, and there are currently more than 1,000 Minit-Charger systems in operation that power over 3,000 lift trucks in the United States and Canada. Key customers include Fortune 500 companies such as Home Depot, Con Agra, Ford, Toyota, Costco, Molson, Nestle, General Mills, Shaw, and Kimberly Clark. The Minit-Charger business unit currently employs 25 people in the U.S. and Canada.
MacroChem Corporation (OTCBB: MACM) Up 16.07% on Thursday
Detailed quote: http://beaconequityresearch.com/MACM
December 06, 2007 - David Luci Joins MacroChem as General Counsel and Vice President Corporate Development
MacroChem Corporation (OTC Bulletin Board: MACM) has appointed David P. Luci, Esq. as General Counsel and Vice President Corporate Development. Mr. Luci will also be Corporate Secretary with responsibilities encompassing all the company's legal matters including compliance with securities regulations and corporate governance. Included in the scope of Corporate Development activities will be responsibility for partnering activities and investor relations.
"I'm very pleased to welcome David to MacroChem. Having recently completed three very important milestones, we are confident that David's extensive experience will help bolster the company's continued momentum," stated Robert DeLuccia, President and CEO of MacroChem. "These key milestones are: last month's announcement of positive interim Phase 2 data for EcoNail(R) for the treatment of onychomycosis; the recent acquisition of exclusive worldwide license rights to pexiganan, a novel topical anti-infective peptide for the treatment of diabetic foot infection, which has already completed two Phase 3 trials; and the recent conversion of all preferred shares into common shares leaving only common stock, warrants, and options outstanding."
Most recently, Mr. Luci served as Executive Vice President and General Counsel of Bioenvision where he established the company's offices in New York, raised over $75 million in capital, and advanced Bioenvision stock listing from OTCBB to AMEX and then to NASDAQ. He was also responsible for garnering analyst interest for a number of investment firms. While at Bioenvision, he in-licensed the company's development-stage lead cancer drug for Japan and Southeast Asia and initiated drug development activities in Japan. He later successfully guided Bioenvision into a merger agreement and closing of a related tender offer with its U.S. co-development partner, Genzyme, in a transaction valued at approximately $345 million. Prior to joining Bioenvision, Mr. Luci practiced securities law and mergers and acquisitions at Paul, Hastings, Janofsky and Walker LLP, New York. Prior to PHJW, he was Senior Auditor, Ernst and Young, New York, focused on internal audit and controls within the Mergers and Acquisitions Practice Group. He is also a member of the Board of Directors and Chairman of the Audit Committee of Access Pharmaceuticals, Inc.
"David brings a diverse legal, financial, and business background as well as excellent knowledge of the biotech sector, both with pharmaceutical companies and the investment community of our industry," said Mr. DeLuccia. "His experience includes capital markets financing, negotiating deals, and license agreements (both U.S. and ex-U.S.), corporate partnerships, and mergers and acquisitions. I believe this impressive skill set will serve us well as we seek to capitalize on our recent achievements and advance our initiatives in the coming year."
Mr. Luci received his JD, cum laude, from Albany Law School of Union University, Albany, and his Bachelor of Science in Business Administration from Bucknell University. He is a member of the New York Bar Association and a Certified Public Accountant (Pennsylvania).
Medina International Holdings, Inc. (OTCBB: MIHI) Up 13.33% on Thursday
Detailed quote: http://beaconequityresearch.com/MIHI
December 06, 2007 - Maritime Security Expo 2007 a Success for Medina International Holdings, Inc.
Medina International Holdings, Inc. (OTCBB: MIHI) exhibited its 15-foot rescue boat at the Maritime Security Expo 2007, held at the Jacob Javits Convention Center, New York, NY on November 27th and 28th. The show drew representatives from the United States Office of Homeland Security, the Navy, Border Patrol, Coast Guard and the Department of Transportation, among others.
"We really got a lot out of this show and received a very enthusiastic response to our boats," commented Daniel Medina, CEO of Medina International Holdings, Inc. "Our booth was very active and we received questions from representatives of our government and also from representatives of foreign governments looking to expand or add to their fleets."
He added, "The show also gave our partner, Kelly Space & Technology Inc., an opportunity to see the response to our boats for themselves. It is one thing to suggest that we have a high-quality product with excellent customer service, but it's another to hear it directly from our customers, some of whom were present at the show, and get feedback from potential customers as well. We are confident that the excellent contacts we made at this show will result in sales of our boats."
Medina's 15-foot Rescue/Fire Rescue boat has been featured in the "Maritime and Border Security News." This news site was delivered to 10,000 different organizations around the world; including those who attended the Maritime Security Expo 2007.
Location Based Technologies, Inc., (OTCBB: LBAS) Up 12.68% on Thursday
Detailed quote: http://beaconequityresearch.com/LBAS
December 06, 2007 - Location Based Technologies, Inc. Announces Signing of Major Network Agreement
Location Based Technologies, Inc., (OTCBB:LBAS) announced the signing of a major contract with KORE Telematics, Inc. to provide ubiquitous coverage throughout the United States and Canada and with roaming agreements on the networks of 290 wireless providers in over 130 countries. "The importance of this agreement cannot be overstated," says Dave Morse, LBT's Co-President and CEO. Mr. Morse further commented that, "KORE opens the door for our PocketFinder family of location devices to immediately offer national coverage as well as the ability for our customers to roam on the GSM networks over most of the world. Coupled with the size and accuracy of our location services, operating on the nation's most reliable GSM network, we are well positioned to offer an awesome customer experience in the first quarter of 2008."
Location Based Technologies is in the final development and testing stage of creating PocketFinder(TM) personal locators that utilize GPS satellites and existing wireless technology. PocketFinder(TM) devices are small, rugged and water tight. The primary market for our devices will fulfill the desire of parents to optimize their time and enhance peace of mind by knowing that their young children are where they are supposed to be. Secondary markets may include medical and elder care providers, outdoor or extreme sports enthusiasts, and pet owners.
Digital Ally, Inc. (OTCBB: DGLY) Up 11.27% on Thursday
Detailed quote: http://beaconequityresearch.com/DGLY
December 06, 2007 - Digital Ally, Inc. Expects 2007 Sales to Exceed $19 Million
Digital Ally, Inc. (OTC Bulletin Board: DGLY), which develops, manufactures and markets advanced video surveillance products for law enforcement, homeland security and commercial security applications, today announced that it has received a second installment payment in the amount of $1.9 million for DVM-500 In-Car Video Systems purchased by an international law enforcement agency in accordance with a $5.1 million order that was announced on November 29, 2007. Unit shipments commenced upon receipt of an initial installment payment in late November, and the entire order should be delivered to the customer during the fourth quarter of 2007 and the first quarter of 2008.
"I am pleased to report that our sales during the current quarter, to date, exceed $5.8 million, surpassing the Company's previous quarterly record of $5.1 million in the three months ended September 30, 2007," stated Stanton E. Ross, Chief Executive Officer of Digital Ally, Inc. "This will be our seventh consecutive quarter of record sales and should allow revenues for the full year to reach or exceed $19 million, compared with revenues of $4.1 million in 2006."
The Company also announced that it has retained First American Stock Transfer, Inc. as its new transfer agent and amended its Bylaws to permit it to participate in a Direct Registration Program for its common stock. The Company took these steps to meet certain requirements for the listing of its common stock on The NASDAQ Capital Market. Digital Ally, Inc. announced its application for a NASDAQ Capital Market listing on November 15, 2007, which application is pending.
DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS WEBSITE OR IN THIS DOCUMENT. ALL INFORMATION PROVIDED HERE IS MERELY INFORMATIONAL AND IS NOT INTENDED TO BE A RECOMMENDATION TO BUY OR SELL ANY SECURITY. YOU SHOULD CONSULT A LICENSED INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION. All material herein has been prepared by us based upon information believed to be reliable. The information contained herein is not guaranteed by us to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not always approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. We are not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed or mentioned herein. Beacon Equity Research and its affiliates have been directly compensated a total of seven thousand five hundred dollars directly from Quality Stocks for enrollment of ETLY in its research program. Beacon Equity Research and its affiliates have been directly compensated a total of seven thousand five hundred dollars and fifty thousand restricted shares directly from Hampton Growth Resources for enrollment of MIHI in its research program. It is the policy of Beacon Research and its affiliates to sell any stock received for services, which may cause the stock price to become depressed. Our affiliates, officers, directors and employees may also have bought or may buy the shares discussed in this opinion and may profit in the event those shares rise in value. We may sell shares for less than the target price given in this opinion, or at any time following the issuance of this announcement. We will not advise as to when it decides to sell and does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market. This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and Beacon Research and its owners undertake no obligation to update such statements.
