Our Stocks to Watch today include Uranium Hunter Corporation (OTCBB: URHN), Internet America, Inc. (OTCBB: GEEK), Propalms, Inc. (OTC: PRPM), AVANIR Pharmaceuticals (NASD: AVNR)
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URANIUM HUNTER CORPORATION (OTCBB: URHN)
"Up 29.17% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/URHN.php
Uranium Hunter is a natural resource corporation devoted to the exploration and development of deposits of Uranium and Gold in East Africa. The company website can be found at www.UraniumHunterCorp.com. Uranium Hunter has entered into a Definitive Agreement with Trimark Explorations, Ltd ("Trimark"), on behalf of its wholly owned subsidiary Gambaro Resources, to earn up to a 100% interest in the Uranium-Au property located in Njombe and Songea Districts, Tanzania. Uranium Hunter has optioned 170 km 2 property in southern Tanzania covering sediments of the Karoo sequence which share common features with rocks of the Colorado Plateau in the western US that have become prolific producers of Uranium. Uranium Hunter has entered into another Definitive Agreement with NPK Resources Ltd. to earn a 75% interest in the Nkoko and Kagadi uranium properties which contain over 800 km2 located in Kibaale district, Uganda, called the "Kibaale Project." Uranium Hunter has entered into a letter of intent with Pinewood Resources of Tanzania to earn a 75% interest in the Karoo project which contains approximately 8600 square km within close proximity to Paladin's Kaleyekara uranium deposit in Malawi, and the newly announced Mtonya Uranium Project discovery in the south western region of Tanzania. The Ugandan government, World Bank, African Development Fund and the Nordic Development Fund has all co-sponsored a US $42 million dollar high valued mineral centered aerial survey which began in January 2007. Results are expected shortly, and will aid in early exploration work on the properties.
URHN News:
December 11 - Uranium Hunter Confirms Uranium Anomalies on Tanzania Ruhuhu Project
Uranium Hunter Corporation (OTCBB: URHN) ("Uranium Hunter" or the "Company") announced that it has completed a preliminary field exploration program on its Tanzania Ruhuhu Uranium Project and has confirmed the presence of multiple uranium anomalies.
After confirming 10 specific radiometric anomalies on the Ruhuhu Project from the report commissioned by PGW, consulting geophysicists, of Toronto, Uranium Hunter had moved forward on a specific field investigation of the Basement and Karoo rocks of the Ruhuhu Project area. The specific intention of the program was to demonstrate the potential for REDOX style uranium mineralization on the Ruhuhu Project area. This recent exploration intervention showed REDOX uranium present in sandstones at the Ruhuhu Uranium Project.
To search for anomalies in the project area, it was decided to follow the Karoo sediments south of the Ruhuhu River on 250 meter lines. Lines were controlled by GPS by the geologist while a scintillometer technician was used to confirm possible outcrops. Multiple uranium specific anomalies were confirmed at Ruhuhu, including 183, 112, 212 cps (counts per second). Consulting geologist Viv Stuart-Williams commented, "It is exceptional that anomalies of this order were found with such a basic approach."
Further conclusions from the initial investigation include:
The Karoo stratigraphy seen parallels the type sections in South Africa.
There is a full succession from the Ordovician/ Carboniferous Dwyka deposits (K1) to the middle Triassic deposits of the Manda Formation (K8).
The concession area has an almost complete sequence although K1 and K2 are poorly developed.
Sandstone geometry and sections seen parallel similar successions seen in South Africa and elsewhere.
It can be concluded that uranium mineralization is present and that this area requires proper investigation.
That within the Terms of Reference a successful Phase 1 intervention was completed.
With the confirmation of uranium mineralization, Uranium Hunter has now experienced its first exploration breakthrough with the success of Phase 1. "Phase 2 exploration on the Ruhuhu Uranium Project will move forward with the exceptional results of our initial investigation of the project area. Recent uranium sandstone discoveries just east of our property make this recent exploration success even more exciting," commented President of Uranium Hunter, Adam Cegielski.
INTERNET AMERICA (OTCBB: GEEK)
"Up 14.52% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/GEEK.php
Internet America, Inc. provides a range of Internet services to residential and business subscribers in Texas, the United States. It offers broadband connectivity services, including 64k/128k integrated service digital network access, 1.5M asymmetrical digital subscriber lines, fractional to full T-1, DS-3 level connectivity, and wireless connectivity services. The company also provides dial-up Internet access services, such as World Wide Web browsing, email, file transfer protocol, and USENET news access; and wireless broadband Internet Access services, including basic Internet access and related Internet applications, such as World Wide Web browsing, e-mail, file transfer protocol, and USENET news access, as well as multiple e-mail mailboxes, national dial-up roaming services, personalized e-mail addresses, and personal Web sites. As of June 30, 2007, Internet America served approximately 34,200 subscribers. The company was founded in 1994 and is headquartered in Houston, Texas.
GEEK News:
December 11 - Internet America Announces Completion of $4 Million Private Placement of Common Stock and Election of New Director
Internet America, Inc. (OTCBB: GEEK), a Houston-based provider of Internet access services, announced the private sale of 4 million shares of its common stock at $1.00 per share for $4 million to a trust controlled by Mr. Steven G. Mihaylo. Additionally, Mr. Mihaylo was elected to fill a vacancy in the Company's Board of Directors.
Internet America has filed a Form 8-K with the Securities and Exchange Commission that attaches as an exhibit the form of Securities Purchase Agreement and Registration Rights Agreement under which the Company issued 4 million shares of Common Stock and agreed to limited registration rights for those shares. As a result of this transaction, Mr. Mihaylo is now positioned as the Company's largest shareholder with an approximate 23% ownership stake.
Mr. Mihaylo founded Inter-Tel (Delaware), Incorporated in 1969 and served as its CEO from 1969 to February 2006. During his stewardship, Inter-Tel grew from a one-man business to a global organization employing over 2,000 people and servicing over 500,000 business customers.
"I see a tremendous opportunity for Internet America to establish a leading position in the rural wireless Internet access market," said Mr. Mihaylo. "I intend on being an active participant in the Company's growth and aim on directing my forty plus years of business experience in the telecommunications and data industries to educating the institutional investment community on the Company's strategic objectives and market opportunity."
"We are very excited about completing this capital raise as it allows us to continue our active growth and acquisition strategy," said William (Billy) E. Ladin, Jr., Internet America's Chief Executive Officer. "We believe that we are better positioned to pursue our growth initiatives now that we have expanded our access to lower rate Department of Agriculture Rural Utilities Service debt, coupled with the proceeds generated from this private placement. Additionally, adding Steve to our board will enable us to benefit from his vast experience in supporting the growth of early stage telecommunications companies."
PROPALMS, INCORPORATED (OTC: PRPM)
"Up 30.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/PRPM.php
Propalms TSE, the complete Server-Based Management solution that extends Microsoft Terminal Services 2000/2003, offers features such as Application Publishing, Seamless Windows, Resource-based Load balancing, and Web-based management consoles.
PRPM News:
December 11 - Propalms, Inc. Retains Prestigious Law Firm Schiff Hardin LLP as General Counsel
Schiff Hardin Named 2008 'Best Lawyers in America'
Propalms, Inc. (OTC: PRPM) announced that the Company has signed an agreement with US-based law firm, Schiff Hardin LLP. The law firm was named 2008 "Best Lawyers in America." The team of lawyers at Schiff Hardin LLP will provide Propalms with counsel and assist with future mergers and acquisitions.
Schiff Hardin LLP is a general practice law firm with offices in seven cities. The firm has more than 400 attorneys in offices located in Atlanta, Boston, Chicago, Lake Forest, New York, San Francisco and Washington. Schiff Hardin's attorneys are admitted to practice law in more than 100 jurisdictions -- including 31 states, 72 U.S. courts, and six countries. The Schiff Hardin attorneys include former Securities and Exchange Commission directors and senior staff members, former general counsel at public companies, and experienced business lawyers from multiple disciplines and jurisdictions.
"We're very pleased to have retained Schiff Hardin. Schiff Hardin will serve as a major asset for us as we enter a new stage in our development. Whether it is Merger and Acquisition negotiations or general counsel it is integral for us to have the right team in place as we move to the next level. We're looking forward to accomplishing our Company goals while working with their renowned staff in 2008," stated Robert Zysblat, President of Propalms.
Propalms, Inc.'s annual shareholder meeting will be held on Friday, January 11, 2008, at 10:00 a.m. PST at the Luxor Hotel in Las Vegas, Nevada. Shareholders that would like to reserve a room at the hotel to attend the shareholder meeting should contact the Luxor Hotel at 888-777-0188 or 702-262-4444. The Luxor Hotel is located at 3900 Las Vegas Boulevard, South Las Vegas, Nevada, 89119. Propalms' shareholder meeting will be held in the Nile Chamber C. The Company filed its form 10SB to uplist to the Nasdaq Bulletin Board.
AVANIR PHARMACEUTICALS (NASD: AVNR)
"Up 17.47% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/AVNR.php
Avanir Pharmaceuticals, a pharmaceutical company, focuses on developing, acquiring, and commercializing therapeutic products for the treatment of chronic diseases. Its products and product candidates address therapeutic markets, including the central nervous system, inflammation, and infectious diseases. The company's lead product candidate Zenvia is being developed for the treatment of pseudobulbar affect (PBA), also known as involuntary emotional expression disorder. Zenvia also completed Phase III clinical trial in patients with diabetic peripheral neuropathic (DPN) pain. Avanir's infectious disease drug candidate, AVP-21D9 is a human monoclonal antibody that is in pre-clinical development for the treatment of anthrax. The company has also licensed a compound to Novartis International Pharmaceutical, Ltd. for the treatment of inflammatory disease. In addition, the company's commercialized product, Abreva is an over-the-counter product for the treatment of cold sores and is marketed in North America by GlaxoSmithKline Consumer Healthcare. Further, it is using its Xenerex technology to develop human monoclonal antibodies for use as prophylactic and therapeutic drugs to prevent and treat anthrax and other infectious diseases. The company was founded in 1988 and is headquartered in Aliso Viejo, California.
AVNR News:
December 11 - AVANIR Announces Fiscal 2007 Fourth Quarter and Fiscal Year Financial Results
AVANIR Pharmaceuticals (NASD: AVNR) reported unaudited financial results for the three and twelve months ended September 30, 2007.
For the fourth quarter of fiscal 2007, AVANIR reported a net profit of $12.1 million, or $0.28 per share, compared with a net loss of $22.2 million, or $0.70 per share, for the fourth quarter of fiscal 2006. The fourth quarter of fiscal 2007 net profit includes income from discontinued operations of approximately $12.0 million. Total net revenues from continuing operations for the fourth quarter of fiscal 2007 (excluding FazaClo net revenues) were $2.9 million compared with net revenues for the fourth quarter of fiscal 2006 of $2.2 million. Total operating expenses from continuing operations were $2.7 million in the fourth quarter of fiscal 2007, compared with $16.2 million in the comparable period in fiscal 2006. Operating expenses for the fourth quarter of fiscal 2006 included commercial development activities conducted in preparation for the anticipated Zenvia launch prior to receipt of the U.S. Food and Drug Administration (FDA) approvable letter.
“2007 has been a year of alignment and focus at AVANIR. We have created a foundation for success by gaining regulatory clarity and developing a path forward for the clinical development and future commercialization of our promising drug candidate Zenvia for the treatment of pseudobulbar affect (PBA) and for the treatment of diabetic peripheral neuropathic (DPN) pain,” said Keith Katkin, AVANIR’s President and CEO. “We have strengthened our financial position through the non-dilutive sale and licensing of non-core assets, restructured our operations to focus our resources on Zenvia, and begun our clinical and non-clinical activities to advance Zenvia in both PBA and DPN pain.
“We are making excellent progress on both our PBA and DPN pain clinical programs,” said Randall Kaye, MD, Chief Medical Officer at AVANIR. “We have initiated patient enrollment in our confirmatory Phase III STAR trial with Zenvia in patients with PBA. As the next step in the Zenvia DPN pain program, we will utilize findings from a large, formal pharmacokinetic (PK) study to assess alternative lower-dose quinidine formulations of Zenvia designed to deliver similar efficacy and improved safety/tolerability versus the formulations previously tested for this indication. We are pleased to announce that we have already initiated dosing in the first phase of the formal PK study and expect to release top-line results by the middle of calendar year 2008.”
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