Our Stocks to Watch tomorrow include Sentra Consulting Corp. (OTCBB: SCNU), Lattice Incorporated (OTCBB: LTTC), Nyer Medical Group, Inc. (NASD: NYER), Empire Film Group, Inc. (OTC: EFGU), MRV Communications, Inc. (NASD: MRVC) and Execute Sports, Inc. (OTCBB: EXCS).
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SENTRA CONSULTING CO (OTCBB: SCNU)
"Up 106.90% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes
Sentra Consulting Corp. does not have significant operations. It intends to engage in the consulting business. The company was founded in 2006 and is based in
SCNU News:
December 26 - Sentra Consulting Corp. Announces Acquisition of Karat Platinum LLC
Sentra Consulting Corp. (OTCBB: SCNU) announced the acquisition of 100% of the membership interests of Karat Platinum LLC, a New York limited liability company which manufactures and sells platinum alloy and platinum jewelry. Sentra issued an aggregate of 30 million shares of common stock to acquire Karat Platinum from its members, or 90.4% of the issued and outstanding share capital. As a result of the acquisition, Karat Platinum became a wholly-owned subsidiary of Sentra.
David Neuberg, one of the founders of Karat Platinum and its newly appointed CEO and a Director of Sentra, commented, "Our relationship with Sentra gives us the opportunity to realize the full potential of our revolutionary new platinum alloy. As a subsidiary of a public company, we enhance our credibility and leverage when dealing with both suppliers and customers."
Karat Platinum, co-holders of a patent pending for the manufacture of a platinum alloy containing 58.5% platinum and 41.5% cobalt and copper, claims the new alloy, referred to as 14 Karat Platinum(r), has certain properties that make it superior to the 95% platinum used in the jewelry industry today. These include lower cost, improved castability, and greater durability.
"This new platinum alloy is considered to be one of the most significant innovations in the jewelry industry in the past one hundred years," states Philip Septimus, Chairman of Sentra Consulting. "We believe that marketplace acceptance of 14 Karat Platinum(r) will follow the same path as the popularity of 14 Karat gold which now dominates the jewelry market."
LATTICE INCORPORATED (OTCBB: LTTC)
"Up 65.22% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes
Lattice Incorporated, through its subsidiaries, engages in the design, development, and implementation of business management applications, integration technologies, and enterprise geospatial systems in the
LTTC News:
December 26 - Lattice Announces Record Backlog of $84.0 Million
Lattice Incorporated (OTCBB: LTTC) ("Lattice" or the "Company"), a provider of advanced information and communications technology solutions to key government agencies and enterprise customers, is announced that the Company's backlog of contract wins reached a record $84.0 million as of November 30, 2007.
"We are extremely pleased with the progress we have made in the execution of our business plan and with the visibility we have into our revenues going forward," said Paul Burgess, Lattice's Chief Executive Officer. "Our ability to win significant contracts demonstrates the strength of our business model and of our customers' acceptance of our solutions."
Lattice calculates its backlog as contracts awarded to the Company or its subsidiaries, representing the estimated revenues it expects to derive from these contracts over their remaining lives. The Company's backlog is not necessarily funded and there is no guarantee these revenues will be realized.
NYER MEDICAL GROUP (NASD: NYER)
"Up 42.02% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes
Nyer Medical Group, Inc., a holding company, engages in the operation of pharmacies, and wholesale and retail of medical and surgical equipment. The company, through its subsidiary, D.A.W., Inc., operates a chain of drug stores located in the suburban
NYER News:
December 26 - Nyer Medical Group Reaches Agreement to Acquire Minority Interest in Pharmacy Chain Subsidiary
Former Minority Shareholders of Subsidiary to Invest in Nyer Medical Group; President of subsidiary to become CEO and President of Nyer Medical Group
Nyer Medical Group, Inc. (NASD: NYER) announced that it has reached agreement with the minority shareholders of its subsidiary, D.A.W., Inc. d/b/a Eaton Apothecary to acquire the remaining 20% interest in the pharmacy chain in fulfillment of Nyer's obligation pursuant to a 1996 shareholder agreement.
By agreeing to a series of transactions, the minority shareholders will immediately assume management of Nyer and will control approximately 58% of the voting power of Nyer. Karen Wright will resign her position as President of Nyer, while continuing as Vice-President-Finance. She, Donald Lewis and Dr. Kenneth Nyer will resign their board positions while the Nyer board will elect Mark and David Dumouchel to the board. Mark Dumouchel, president of the pharmacy subsidiary since 1990, will be appointed Chief Executive Officer and President of Nyer. Upon closing, certain former subsidiary minority shareholders will sign three-year employment agreements to serve as executive pharmacy managers. As conditions of the buyout are met, all preferred shares of the company will be retired.
Over time and when fully realized upon, Nyer will satisfy its $4 million obligation through a series of transactions. The agreement provides for a $1.75 million cash payment, the issuance of a new class B2 convertible preferred shares to the minority shareholders, and the issuance of two notes, a $350,000 promissory note bearing interest at a rate of 7% per annum maturing in 5 years and a $1.5 million convertible promissory note bearing interest at a rate of 8% per annum maturing in 3 years. The class B2 preferred shares will convert to 218,000 shares of common stock, subject to adjustment, in 3 years provided Nyer meets certain financial obligations to the minority shareholders. The convertible note is convertible at any time following one year at the holders' election into Nyer common stock at an initial conversion rate of $1.84 per share, subject to adjustment, and is redeemable at the holders' election, in whole or in part, based upon the occurrence of certain transactions. It is anticipated that the cash funding for the transaction will occur through D.A.W.'s increased available cash flow, as a result of the extension of payment terms by its major supplier.
The new agreement also calls for Nyer to simultaneously acquire 100% of its outstanding shares of Class A and B preferred stock owned by Samuel Nyer in exchange for a $400,000 promissory note bearing interest at a rate of 7% per annum maturing in 5 years. In addition, the minority shareholders of D.A.W. have agreed to purchase 597,827 shares of Nyer common stock owned by Nyle International Corp. for $1.84 per share.
The change of control that would be caused by these transactions is subject to Nyer shareholder approval and other closing conditions.
"We are very pleased to have reached this agreement and look forward to the realization of the true value of the Company's stock," said D.A.W. president and incoming Nyer CEO Mark Dumouchel.
"We are excited we have reached an agreement to purchase the remaining 20% of our pharmacy segment, D.A.W., Inc. and will have employment contracts with our five executive pharmacy managers, stated Karen Wright, current President of Nyer Medical Group, Inc. "This is an important time for the Company as we strive to increase profitability and increase shareholder value."
EMPIRE FILM GROUP (OTC: EFGU)
"Up 30.58% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes
Empire Film Group, Inc. ("EFG") is a new independent film finance, production, and distribution company led by a management team with over 20 years of experience in development, production, distribution, finance and marketing of feature films and television programming. The group has filmed in various locations worldwide including the
EFGU News:
December 26 - Empire Film Group Announces Latin American Distributor, Cinemac, for 'Havana Heat' Feature Film
Empire Film Group, Inc. (OTC: EFGU) announced that the company has signed a deal with leading Latin American Distribution company, Cinemac (http://www.cinemacfilms.com/), in partnership with Tayrona Entertainment Group, for the feature film "Havana Heat," scheduled for release in 2008.
"Havana Heat" is a Canada-Colombia co-production action adventure story about an ex-secret service agent who is called back into service on special assignment on the
"We are excited to have Cinemac as our Latin American Distribution partner for 'Havana Heat' and future Empire Film Group productions," stated Mr. Dean Hamilton Bornstein, CEO of Empire Film Group, Inc. "Having Cinemac and Tayrona Entertainment, two leading international distribution and production companies, as partners is the ideal way for Empire Film Group to reach over 600 million Spanish speaking people around the world."
ABOUT CINEMAC
Cinemac Films Inc., one of the top leaders and distributors in Latin America, is co-producer and strategic ally with direct access to the markets of
ABOUT TAYRONA ENTERTAINMENT
Tayrona Entertainment Group is a full service international entertainment production company with operations in
MRV COMMUNICATIONS (NASD: MRVC)
"Up 21.36% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes
MRV Communications, Inc. engages in the design, manufacture, sale, distribution, integration, and support of communication equipment and services, and optical components. It operates in two divisions, The Networking Group and The Optical Components Group. The Networking Group division provides equipment, which includes switches, routers, physical layer products, and console management products, as well as networking products for aerospace, defense, and other applications, including voice and cellular communication. This division serves commercial customers, governments, and telecommunications service providers. The Optical Components Group division designs, manufactures, and sells optical communications components, including fiber optic transceivers for metropolitan, access, and Fiber-to-the-Premises applications. The company also focuses on developing optical components, subsystems and network equipment, and other products for the infrastructure of the Internet. It sells its products through direct sales force, manufacturers' representatives, value-added-resellers, distributors, and systems integrators worldwide. The company was founded in 1988 as MRV Technologies, Inc. and changed its name to MRV Communications, Inc. in 1992. MRV Communications is headquartered in
MRVC News:
December 26 - Source Photonics, Inc. (formerly Luminent, Inc). Files Registration Statement for Initial Public Offering
MRV Communications, Inc. (NASD: MRVC) and Source Photonics, Inc. (a wholly-owned subsidiary of MRV, formerly Luminent, Inc.) announced that a registration statement has been filed with the U. S. Securities and Exchange Commission for the proposed underwritten initial public offering of the Class A common stock of Source Photonics. The number of shares to be offered and the price range of the proposed offering have not yet been determined.
Cowen and Company, LLC and Credit Suisse Securities (USA) LLC are the joint bookrunning managers for the proposed offering. Co-managers for the offering are Needham & Company, LLC and Merriman Curhan Ford & Co.
The proposed offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus related to the offering can be obtained from either of the following:
Cowen and Company, LLC
c/o Broadridge Financial Solutions
Prospectus Department
1155 Long Island Avenue
Edgewood, NY 11717
Fax: (631) 254-7140
Credit Suisse Securities (USA) LLC
Prospectus Department
One Madison Avenue
New York, NY 10010
Telephone: (800) 221-1037
EXECUTE SPORTS INCORPORATED (OTCBB: EXCS)
"Up 17.39% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes
Execute Sports, Inc. engages in the design, manufacture, and sale of water sports products for the power sports and action sports markets in the United States and internationally. Its water sports products include vests, wetsuits, rash guards, wake skates, and accessories, which are marketed under the Execute brand name to the wake board and ski markets. The company markets its products through a network of independent dealers in the
EXCS News:
December 26 - Execute Sports Launches New Website
Execute Sports, Inc. (OTCBB: EXCS) ("Execute"), a company engaged in the design, manufacturing and sale of water sports products, announced that it has launched its new, completely overhauled website, which reflects the new look and direction of the company.
The new website contains the redesigned product line for 2008, including links to its recently acquired water-jet boat line, a direct news link and photos and bios of new Team Riders. The site also contains online store links for easy purchases of Execute products.
Geno Apicella, Execute CEO, commented, "We wanted to make sure that the revised site provided a better representation of the company and its product lines. We also wanted a site that was full of information and easy to navigate." Mr. Apicella added, "We searched for several months to find the right web design company to bring our new vision and focus into the new site."
The new website was designed by Robert White of Pro Creation Studios of Newport Beach, California.
New Execute branded products will be available in January 2008.
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