Our Stocks to Watch today include eBenefits Direct, Inc. (OTC: EBFD), Universal Energy Corp. (OTCBB: UVSE), North American Scientific, Inc. (NASD: NASI), Dana Corporation's (OTC: DCNAQ), Eternal Image, Inc. (OTC: ETIM), Far East Energy Corporation (OTCBB: FEEC)
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EBENEFITSDIRECT (OTC: EBFD)
Detailed Quote: http://www.otcpicks.com/quotes/EBFD.php
Company Profile:
http://www.otcpicks.com/ebenefits-direct/ebenefits-direct.htm
eBenefits Direct, Inc. is a nationwide leader in the direct marketing and distribution of a wide range of health and life insurance products to individuals, families and groups. By utilization of its many call centers across the country it enables an individual to efficiently purchase health and life insurance as well as medical and discount service programs. The company has revolutionized the way health and life insurance has historically been sold. eBenefits Direct, Inc.'s approach is through many mass distribution areas such call centers, the internet and massive lead generation programs.
EBDF News:
December 14 - eBenefits Direct Subsidiary, L.A. Marketing Plans, Launches Call Center in Portland, Maine, to Market Healthcare Programs to Uninsured Individuals Across the U.S.
L.A. Marketing Plans LLC, a wholly owned subsidiary of eBenefits Direct, Inc. (OTC: EBFD), announced recently that its exclusive RightHealth program has expanded its operation with a new call center facility located in Portland, Maine. This addition will allow RightHealth to reach a significant market of uninsured consumers.
“We are very pleased to be able to offer the RightHealth portfolio of products for distribution through this call center. RightHealth, a medical discount program, provides a helpful solution to individuals that do not qualify for or cannot afford major medical insurance. Through the association membership, individuals are provided access to medical discounts and additional defined insured benefits. The launch of this new facility will help expand and promote the RightHealth programs,” said Rob Michaelson, President of L.A. Marketing Plans LLC.
RightHealth provides members a combination of discounts on healthcare costs, including physicians, dental and vision, and access to a variety of other valuable healthcare features, such as defined accident insurance coverage, including accident disability income and an emergency rescue plan, through membership in America's Health Care Consumer Association.
The RightHealth programs are available through Access Plans USA, Inc. (www.accessplansusa.com), a publicly traded company. Access Plans is a nationwide distributor of health insurance and non-insurance healthcare programs that provide access to affordable healthcare for the growing number of uninsured and/or underinsured in the United States. For more information on the RightHealth programs, visit www.righthealthplan.com.
UNIVERSAL ENERGY CORP (OTCBB: UVSE)
"Up 6.96% in morning trading"
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:
December 12 - Universal Energy Corp. Begins Oil Production at its Amberjack Prospect and Reaffirms Guidance of First Quarter 2008 Profitability
Universal Energy Corp. (OTCBB: UVSE), an emerging domestic oil and gas exploration and production company, announced that oil production has now begun at its Amberjack prospect. "Our first revenues from production are a historic event," commented Billy Raley, CEO of Universal Energy Corp. Raley continued, "Production estimates have been right on track and our previous estimates of profitability for the first quarter of 2008 are solid".
Universal Energy will update its stockholders each month on its production numbers for each of its prospects. "With production scheduled to begin from Lake Campo in the next few days, 2008 is shaping up to be a fantastic year for Universal Energy and its stockholders," commented Dyron Watford, CFO of Universal Energy Corp.
NORTH AMERICAN SCIENTIFIC (NASD: NASI)
"Up 44.95% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/NASI.php
North American Scientific, Inc. engages in the manufacture, sale, and marketing of various products for the radiation oncology community. The company develops intensity modulated radiation therapy and image guided radiation therapy products for the treatment of cancer. It also offers radioisotopic products, including iodine-based and palladium-based implantable brachytherapy seeds and accessories for the treatment of prostate cancer. Further, North American Scientific offers radiation sources and standards, which are used in various areas for calibration, measurement, analysis, and control; standards for nuclear medicine; and catalog and customized products for commercial laboratories serving the environmental sector. Its customers include federal and state governmental agencies, medical equipment manufacturers, nuclear utilities, and private organizations. The company sells its products directly, as well as through sales representatives and distributors in the United States, Europe, and Asia. North American Scientific was founded in 1987 and is based in Chatsworth, California.
NASI News:
December 13 - North American Scientific Announces Agreement for Private Placement of Common Stock
North American Scientific, Inc. (NASD: NASI) announced that on December 12, 2007, North American Scientific, Inc. (the “Company”) entered into a Securities Purchase Agreement with Three Arch Partners IV, L.P. and affiliated funds (“Three Arch Partners”), SF Capital Partners Ltd. (“SF Capital”) and CHL Medical Partners III, L.P. and an affiliated fund (“CHL,” and together with Three Arch Partners and SF Capital, the “Investors”) providing for the private placement (the “Private Placement”) of 63,008,140 shares (the “Shares”) of common stock of the Company, par value $0.01 per share (the “Common Stock”), and warrants to purchase 3,150,407 shares of Common Stock (the “Warrants,” and, together with the Shares, the “Securities”) for a total purchase price of $15.5 million.
The purchase price is equal to $0.246 per Security, of which $0.01 is allocated to the Warrants. The purchase price represents a 40% discount to the volume weighted average price of the Common Stock on the Nasdaq Global Market, as reported by Bloomberg Financial Markets, for the 20 trading day period ending on the trading day immediately preceding the date of the Securities Purchase Agreement. The Warrants have an exercise price of $0.246 per share, subject to certain adjustments. The Warrants may be exercised no earlier than 180 days from the closing date of the transaction and will expire seven years from the date of issuance.
In order to close the Private Placement, the Company must obtain stockholder approval of the Private Placement and the amendment of its Certificate of Incorporation to increase the number of shares of Common Stock it is authorized to issue. The Securities Purchase Agreement requires that the Company file a preliminary proxy statement, information statement or consent statement with the Securities and Exchange Commission (the “Commission”) to solicit stockholder approval by December 19, 2007. The Company expects to close the Private Placement as soon as practicable after it obtains stockholder approval.
The Investors have agreed to purchase the following amounts of Securities in the offering:
Investor Shares Warrants (Shares issuable upon exercise)
Three Arch Partners 40,650,420 (2,032,521)
SF Capital 10,162,600 (508,130)
CHL 12,195,120 (609,756)
Three Arch Partners currently owns 5,121,638 shares of Common Stock. If the transaction is consummated, Three Arch Partners’ percentage ownership of the outstanding Common Stock will increase from approximately 17.3% to 49.4% (and 43.9% of the Common Stock on a fully diluted basis).
The net proceeds to the Company of the Private Placement after payment of fees and expenses are expected to be approximately $14,115,000. The terms of the Private Placement were approved by a committee of the Company’s Board of Directors consisting only of disinterested directors. The Company’s directors and executive officers have executed lock-up agreements restricting their ability to sell shares of the Common Stock for 180 days following the closing of the transaction. The Investors will be required to enter into such lock-up agreements prior to the closing of the transaction.
CIBC World Markets Corp. is acting as sole placement agent in connection with the Private Placement. If the Private Placement is consummated as discussed herein, the placement agent will receive aggregate fees of approximately $1,085,000 plus reimbursement for reasonable out-of-pocket fees and expenses.
Additional Information About the Consent Solicitation and Where to Find It
Stockholders of the Company and other investors are urged to read the consent solicitation that the Company will file with the Securities and Exchange Commission in connection with the Private Placement because it will contain important information about the Company, the Investors, the Private Placement, the persons soliciting proxies for the Private Placement and their interests in the Private Placement and related matters. Investors will be able to obtain all documents filed with the SEC by the Company free of charge at the SEC’s Internet site (www.sec.gov). In addition, documents filed with the SEC by the Company will be available free of charge from the Corporate Secretary of North American Scientific, Inc., 20200 Sunburst Street, Chatsworth, California, 91311, telephone (818) 734-8600. Read the consent solicitation carefully before making a decision concerning the Private Placement.
DANA CORPORATION (OTC: DCNAQ)
"Up 21.74% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/DCNAQ.php
Dana is a world leader in the supply of axles, driveshafts and structural, sealing, and thermal management products, as well as genuine service parts. The company's customer base includes virtually every major vehicle and engine manufacturer in the global automotive, commercial vehicle, and off-highway markets, which collectively produce nearly 70 million vehicles annually. Based in Toledo, Ohio, the company's continuing operations employ approximately 35,000 people in 26 countries and reported 2006 sales of $8.5 billion, with more than half of this revenue derived from outside the United States. For more information, visit www.dana.com.
DCNAQ News:
December 12 - Bankruptcy Court Asks Dana to Submit Order Confirming Plan of Reorganization
During a confirmation hearing today for Dana Corporation's (OTC: DCNAQ) Chapter 11 case, Judge Burton R. Lifland of the U.S. Bankruptcy Court for the Southern District of New York announced that he will "entertain an appropriate order of confirmation" with respect to the company's Plan of Reorganization. The judge ruled that all Chapter 11 requirements for confirmation have been satisfied. The company is expected to submit the order of confirmation by Dec. 21, 2007. As previously announced, the company is positioned to emerge from bankruptcy by the end of January 2008.
"This is another important step toward our emergence as a financially stable company that is positioned to compete vigorously in our global markets," said Dana Chairman and CEO Mike Burns.
ETERNAL IMAGE INCORPORATED (OTC: ETIM)
"Up 12.50% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/ETIM.php
Eternal Image, Inc. designs, manufactures, and markets branded and licensed funerary products for humans and pets in the United States. The company primarily offers caskets, urns, monuments, and vaults. Its products include Vatican Library Collection line of urns and caskets; Major League Baseball line of urns and caskets; Precious Moments line of urns and caskets; and American Kennel Club line of urns. The company was founded in 2002 and is headquartered in Farmington Hills, Michigan.
ETIM News:
December 13 - Eternal Image Caskets, Urns and Monuments - Oh My: Holiday Gifts to Give Now, Use (Much) Later
If you have a “someone who has everything” on your holiday gift list, chances are they don’t have this: a licensed brand image casket or urn featuring their favorite baseball team, science fiction show, college or collectible.
Eternal Image, Inc. (OTC: ETIM), founded in 2002, is a public company engaged in the design, manufacturing and marketing of licensed brand image funerary products. Their urns and caskets feature such well-known marks as Major League Baseball™, STAR TREK™, Precious Moments™ and The Vatican Library Collection™. A selection of products featuring colleges and universities will be available beginning in 2008.
Eternal Image also offers a pet line that includes American Kennel Club™ and Cat Fanciers’ Association™ branded products such as urns and garden stones.
“We have been hearing from the field that some customers at funeral homes are buying urns to give as gifts or are asking to be placed on waiting lists for when certain caskets become available,” said Clint Mytych, CEO of Eternal Image. “For instance, a customer’s father might be a great fan of a particular baseball team, or their sibling might be a long-time STAR TREK™ fan. Sometimes it is an inquiry about a specific university or about a collectible, such as Precious Moments™ or The Vatican Library Collection™. As interest is building we have begun offering gift certificates good for any product in the line.”
Most urns in the line have an MSRP of about $700; caskets have an MSRP ranging from $3,000 - $3,500. Monuments and vaults will also be available in most lines, beginning in 2008. Pet urns have an MSRP of about $199 and garden stones begin at about $50.
Eternal Image products are sold through funeral homes across the country. Consumers can learn how to reach the nearest funeral home offering the products by calling Eternal Image directly at 248/932-3333. For more information about the Eternal Image product line, visit www.eternalimage.net.
FAR EAST ENERGY CORPORATION (OTCBB: FEEC)
"Up 13.10% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/FEEC.php
Far East Energy Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of coalbed methane gas properties in the Shanxi Province in northern China, and in the Yunnan Province in southern China. As of December 31, 2006, the company had approximately 265,000 gross acres in the Yunnan Province, and approximately 1,058,000 gross acres in the Shanxi Province. It had drilled three exploratory wells, and four slim hole vertical wells on acreage in the Yunnan Province; and five horizontal wells, and a vertical well in the Shanxi Province. The company was founded in 2000 and is based in Houston, Texas.
FEEC News:
December 13 - Far East Energy Management to Provide Update on Coalbed Methane Operations in China
Far East Energy Corporation (OTCBB: FEEC) announced that a routine Operations Update presentation will be held on December 19, 2007 at 10:00 am central time. Chief Executive Officer Michael R. McElwrath will be joined for this presentation by Garry Ward, Senior Vice President, Engineering and Chief Financial Officer Randall D. Keys. Management will discuss the company’s forward drilling plan and technical objectives.
Far East Energy's operations include the Shouyang and Qinnan Blocks, which make up the 1,057,650 acre (4,280 square kilometers) coalbed methane (CBM) project in Shanxi Province that Far East holds under farmouts from ConocoPhillips. Including its 264,863 acre (1,072 square kilometers) project in Yunnan Province, the CBM concessions of Far East Energy contain a land mass slightly larger than the State of Delaware. The Shanxi properties are strategically located next to China's two largest pipelines leading to the industrial centers of Shanghai and Beijing.
When: Wednesday, December 19, 2007 at 10 am CST
Where: www.fareastenergy.com live over the internet
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