Dallas, TX 1/7/2008 3:16:07 PM
OTCPicks.com Stocks to Watch for Monday, January 7th INBG, BDGR, ARRT, IFNY, LXRA, ESRG
Our Stocks to Watch tomorrow include International Building Technologies Group, Inc. (OTCBB: INBG), Black Dragon Resource Companies, Inc. (OTC: BDGR), AmeriResource Technologies, Inc. (OTCBB: ARRT), Infinity Energy Resources, Inc. (NASD: IFNY), Lexaria Corp. (OTCBB: LXRA) and Electron Solar Energy (OTC: ESRG).
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INTERNATIONAL BUILDING TECHNOLOGIES GROUP (OTCBB: INBG)
"Up 52.00% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/INBG.php
International Building Technologies Group, Inc. engages in the manufacture and sale of building panels used in construction worldwide. It also provides site planning, architectural and engineering services, contractor services, materials, equipment, training, and supervision. The company is based in Alameda, California.
INBG News:
January 4 - International Building Technologies Group, Inc. Signed a MOU to Acquire a Machinery Manufacturing Co. With USD 3.9 Million Worth of Assets
International Building Technologies Group, Inc. (OTCBB: INBG) announced that it has recently entered into a Memorandum of Understanding (MOU) to acquire a machinery manufacturing company in Wuhan, Hubei Province of China. The Hubei InteWufeng Machinery Co., Ltd. currently offers several lines of equipment, but its machining capabilities can be retooled to manufacture the panel production manufacturing systems that IBT will utilize in several planned projects in China and other countries.
The signed MOU has specified the basic terms of a Final Agreement to acquire the machinery manufacturing company following due diligence and financial review by both companies. Financial information provided by the Hubei InteWufeng Machinery Co., Ltd. states the company currently has assets worth RMB 28.5 million (US Dollar 3.9 million approx.) and generated revenue of RMB 30 million (US Dollar 4.1 million approx.) in the year of 2007.
Stated Kenneth Yeung, CEO of International Building Technologies Group, Inc., "This potential acquisition would give IBT the ability to manufacture its proprietary equipments of panel production machinery. The Hubei InteWufeng Machinery Co., Ltd. currently has state of the art tool and machining systems, experienced engineers, design capabilities for new lines of equipment as well as strong service and after-sales support. Strategically, this acquisition would strongly support IBT's ability to supply the market for building panels in China and throughout the world."
The acquired company is located in Wuhan, Hubei Province of China. It is a machinery factory that manufactures equipment, production lines and heavy equipments for mineral refinery in China. It has been one of the key players in the same type of equipment manufacturing industries for the last decade. For further information of The Hubei InteWufeng Machinery Co., Ltd., visit http://www.ytwf.com/.
For more information on International Building Technologies Group, Inc. visit http://www.ibtgi.com/.
BLACK DRAGON RESOURCE COMPANIES (OTC: BDGR)
"Up 58.97% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/BDGR.php
Black Dragon Resource Companies, Inc. engages in the acquisition, development, production, and sale of oil and gas, and natural gas properties in the United States. It produces oil and natural gas from marginal stripper wells, whose production has slowed to 1/2 barrels of crude oil per day or less. The company was incorporated in 1996 as Vita Health, Inc. and changed its name to Vita Warehouse Company, Inc. in 1999. Further, it changed its name to Texas Diversified Distributors, Inc. in 2001; to Black Dragon Resource, Inc. in February 2004; and to Black Dragon Resource Companies, Inc. in December 2004. Black Dragon Resource Companies, Inc. is headquartered in Oil City, Louisiana.
BDGR News:
January 3 - Black Dragon Announces Significant Further Progress on the Joint Venture Funding Negotiations
On January 2, 2008, Mr. Joe Lanza, President of Black Dragon Resource Companies, Inc. (OTC: BDGR) announced that negotiations with a Joint Venture Funding Partner, as previously announced last week, were close to being completed.
Mr. Lanza reiterated that the Funding Joint Partner has agreed to provide the Joint Venture with a significant investment of at least $100,000,000. He added that the Joint Venture Partner had just confirmed to its satisfaction that the Company's oil and gas reserves have a value of at least $2.7 billion dollars and that it was prepared to move forward with the transaction, subject to finalization of its audit, which should be completed within a week.
Mr. Lanza also reported that the Joint Venture Partner and the Company had agreed in principle to all terms of the Joint Venture Agreement, the completion of which is now subject only to Counsel's review.
Further, and perhaps most significant, Mr. Lanza reported that he had met with the proposed new management team who, according to Mr. Lanza, has the extensive experience in both oil and gas technology and in production management to ensure the success of the Joint Venture and the full and proper development of Black Dragon's extensive resources.
Mr. Lanza concluded by stating that he was most impressed with the proposed management team and upon the Funding of the Joint Venture and the finalization of all details of the Joint Venture that he believed his goal for the Company would have been realized and that he would promptly resign. All Black Dragon shareholders, he concluded, will be greatly benefited by the new Joint Venture structure, and with the expansion of Black Dragon operations, which could only increase shareholder value.
Management believes that all details of the Joint Venture will be finalized prior to the Annual Meeting on January 16, 2008, so that the matter could be considered by the Stockholders at that time.
AMERIRESOURCE NEW (OTCBB: ARRT)
"Up 40.00% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/ARRT.php
AmeriResource Technologies, Inc., through its subsidiaries, operates online auction drop-off locations that enables online sale of goods on eBay. As of March 31, 2007, the company operated 8 drop-off locations, as well as 25 affiliate locations. It also develops self-serve/checkout systems that enable customers of fast-food and take-out restaurants to place their food and beverage orders and pay with cash or a credit/debit card; and provides software design and product development for commercial business users doing business on eBay. The company also provides eBay liquidation services for excess inventory, overstock items, and merchandise that has been returned to the retailer; and conducts sales on eBay for the customers. In addition, it provides voice over Internet protocol (IP) communications solutions and IP communications devices. The company was incorporated in 1989 and is based in Las Vegas, Nevada.
ARRT News:
January 4 - AmeriResource 2007 4th Quarter Sales Increase Significantly
AmeriResource Technologies, Inc. (OTCBB: ARRT), a diversified holding company announced today that its revenues (unaudited) for its subsidiaries, BizAuctions, Inc., AuctionWagon Inc., and RoboServer Systems Corp., for the quarter ending December 31, 2007, has increased approximately 363%.
"For the quarter ending December 31, 2007, revenues have increased to approximately $1,033,131 from approximately $223,123 for the corresponding quarter in 2006. The increase in revenues is attributed to the core management team and staff in each of the companies as well as the strong growth in the business model of BizAuctions, Inc. The Companies have made significant progress in increasing gross profits and reducing expenses however have not achieved net profits after General and Administrative expenses," noted Delmar Janovec, CEO of AmeriResource.
"BizAuctions employs two primary business models, whereby it liquidates inventory through eBay on consignment for a lucrative commission; and/or it purchases inventory at a fraction of retail price for the purpose of liquidating it for a profit. Management has worked diligently to bring in new commercial clients who recognize the Company's commitment to provide a quality service for the client. BizAuctions consigns, buys inventory, and liquidates through eBay," continues Janovec.
"AuctionWagon is one of the leaders in the auction-consignment software management systems and operations. After opening one of the world's very first eBay drop-off stores, AuctionWagon's team of retail experts and former software developers from Microsoft and eBay developed a software platform, the Store Manager Pro [G2], which has revolutionized the way merchandise is offered for sale to the world on eBay. AuctionWagon is both an eBay Certified Developer and eBay Trading Post that has the insider expertise and proven ability to lead the industry," comments Janovec.
"RoboServer Systems Corp., developer of the revolutionary Self-Serve System that enables quick-service restaurant customers to process their own orders on a touch-screen kiosk has made significant progress in 2007 with the development of its 'Assisted Server-CT-MY1,' dual screen counter top unit, and the establishment of two new divisions within the Company, 'LineBuster' and 'iOrder.' We anticipate being very busy in 2008 with the development of the 'Assisted Server-CT-MY1' and the establishment of RoboServer's two new divisions, 'LineBuster' and 'iOrder,'" concluded Janovec.
For additional information on the subsidiaries, visit their website at http://www.bizauctions.com/, http://www.auctionwagon.com/, and http://www.roboservercorp.com/.
The Company encourages the public to read the above information in conjunction with its year-end 10-KSB for December 31, 2006, and the third Quarter 10-QSB for September 30, 2007. The financial statements can be viewed at http://www.sec.gov/.
INFINITY ENERGY RESOURCES (NASD: IFNY)
"Up 38.04% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/IFNY.php
Infinity Energy Resources, Inc., through its subsidiaries, engages in the acquisition, exploration, development, and production of natural gas and oil in the United States. The company's properties are located in the Fort Worth Basin of north central Texas; the Rocky Mountain region in the Greater Green River Basin in southwest Wyoming; and the Sand Wash and Piceance Basins in northwest Colorado. It also has interest in an oil and gas exploration property offshore Nicaragua in the Caribbean Sea. As of December 31, 2006, the company's total proved reserves were 7.7 billion cubic feet of gas equivalent. Infinity Energy Resources was founded in 1987 and is based in Denver, Colorado.
IFNY News:
January 4 - Infinity Enters Into Asset Sale and Joint Venture Agreements With Forest Oil Corporation
Infinity Energy Resources, Inc. (NASD: IFNY) ("Infinity"), an independent oil and gas exploration and development company, announced that its wholly-owned Infinity Oil & Gas of Wyoming, Inc. ("Infinity-Wyoming") subsidiary entered into a definitive Asset Purchase and Sale Agreement with Forest Oil Corporation (NYSE: FST) ("Forest Oil") on December 27, 2007.
Under the terms of the Asset Purchase and Sale Agreement, Infinity-Wyoming has agreed to sell, and Forest Oil has agreed to purchase, essentially all of Infinity-Wyoming's producing oil and gas properties in Colorado and Wyoming, along with 80% of the working interest owned by Infinity-Wyoming in undeveloped leaseholds in Routt County, Colorado and Sweetwater County, Wyoming, for $17.4 million in cash, subject to ordinary and customary adjustments from the effective date of October 1, 2007 through the date of closing, which is anticipated to occur on or about January 7, 2008. The closing of the Asset Purchase and Sale Agreement is contingent upon the satisfaction of certain customary closing conditions.
Infinity currently expects the adjusted proceeds from the sale to be approximately $16 million. Sale proceeds will be utilized to (1) retire approximately $12 million in outstanding bank debt; (2) settle open oil and gas commodity derivative liabilities of less than $2 million; and (3) pay accrued interest and forbearance fees and prepay interest totaling approximately $0.8 million to Amegy Bank N.A. The remainder of the sale proceeds, along with amounts to be received from Forest Oil under the Farmout and Acquisition Agreement described below, are anticipated to be reserved for the payment of certain accounts payable and accrued liabilities.
"We are very pleased to announce this agreement to sell our Colorado and Wyoming producing properties to Forest Oil Corporation," stated Stanton E. Ross, Chairman and Chief Executive Officer of Infinity Energy Resources, Inc. "Not only will the transaction allow Infinity to significantly reduce its bank debt, but we will retain 100 percent ownership of the Piceance Basin and Labarge exploratory properties in the Rocky Mountains and have retained the right to a 20 percent working interest in any future wells that Forest may drill in the Sand Wash Basin on the exploratory acreage sold."
Also on December 27, 2007, Infinity Oil and Gas of Texas, Inc. ("Infinity-Texas"), a wholly-owned subsidiary of Infinity, entered into a Farmout and Acquisition Agreement for certain oil and gas leaseholds owned by Infinity-Texas in Erath County, Texas. The Farmout and Acquisition Agreement provides that Forest Oil will operate and earn a 75% interest in the spacing unit for each well in a ten-well drilling program. If Forest Oil completes the drilling program, Forest Oil will earn a 50% interest in the approximate 31,000 remaining undeveloped net acres and existing Erath County infrastructure owned by Infinity. The drilling obligation begins no later than March 15, 2008. Infinity Texas retains 100% of its interest in all currently completed wells and 100 acres surrounding each currently completed well.
"We are delighted that Forest Oil has agreed to joint venture with Infinity-Texas in the development of a significant portion of our acreage in the Barnett Shale play in Erath County," noted Ross. "The acreage involved in the joint venture is largely undeveloped, and Infinity will retain full ownership of the 24 wells we have drilled in the northern portion of Erath County, along with our acreage and wells in Comanche County, Texas. We are optimistic that our operating cash flows will be sufficient to service our remaining bank debt and future corporate overhead expenses."
"The sale of the Rocky Mountain properties and farmout of the Texas Erath acreage to an experienced and well-qualified operator completes the first part of a business plan designed to resolve Infinity's liquidity problems and bring the Company back to a growth mode," stated Dr. Renato Bertani, Infinity's Chief Operating Officer. "The transactions were structured not only to raise the proceeds necessary to substantially reduce the Company's debt but also to afford Infinity a participation in the upsides that we have identified in the undeveloped acreage of both areas."
"Looking forward, in addition to the prospects for our joint venture with Forest Oil in Texas and the exploration potential of our other properties in Texas and the Rocky Mountains, Infinity management will devote its primary attention to our 1.4 million-acre offshore oil and gas concession in Nicaragua. We are scheduled to travel to Nicaragua again in January 2008 for what will hopefully be a productive meeting with federal and regional government representatives to finalize our exploration contracts. Once the contracts have been signed by all parties, Infinity plans to acquire additional seismic information and pursue discussions with potential partners in what we believe has the potential to be a 'world-class' oil and gas development opportunity," concluded Ross.
Infinity has filed a Current Report on Form 8-K with the SEC that provides significant additional information on the subjects discussed in this press release. Investors are encouraged to review such Form 8-K filing in detail.
LEXARIA CORPORATION (OTCBB: LXRA)
"Up 32.22% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/LXRA.php
Lexaria Corp. is an oil & gas company active in Mississippi, Oklahoma and in Alberta, Canada. The main focus currently is Mississippi, where it holds between 30 percent and 50 percent gross interests in various gas and oil projects. Lexaria routinely evaluates additional oil & gas projects and corporate opportunities.
LXRA News:
January 3 - Plans for 2008 Follow Oil Production Increase at End of 2007
Lexaria Corp. (OTCBB: LXRA) (the "Company" or "Lexaria") announced an increase in oil and gas production and discusses plans for 2008.
PP F 52 BEGINS OIL PRODUCTION
Lexaria Corp. announced that a third well in Mississippi has begun production of oil. The well, acquired in 2006 as part of the 12-well Phase I drill program, was earlier completed as a gas well and began producing gas in mid-October, 2007. Small amounts of oil production began two weeks later and by mid-December the well was producing an average of over 100 mcf/d of natural gas and an average of 55 barrels of oil per day.
This newly producing oil well, the PP -F52, is located some 12 miles from the Company's Belmont Lake oil field. At this time the Company cannot project the potential oil reserves or production from this well, which were assigned a valuation of zero in its most recent proved reserves report. Lexaria has a 30% gross working interest in this well and all other wells under the Phase I agreement.
SALT-WATER DISPOSAL WELL ALLOWS FOR INCREASED GAS PRODUCTION
In the greater Palmetto Point area, Lexaria notes that its operator has recently completed a salt-water disposal well, which is beginning to be used to dispose of excess water produced as a by-product of certain of its gas wells. This new salt-water disposal well will decrease operational costs and is expected to improve the operational productivity of several existing gas wells. Additional existing nearby gas wells will be connected to this disposal well as quickly as possible, thereby increasing field gas production.
CAPITAL PLAN FOR BELMONT LAKE OIL FIELD FOR 2008
Lexaria and its operator currently plan to drill a horizontal development well in mid-2008, to more fully exploit the Belmont Lake oil field. While precise details are not yet finalized, Lexaria expects this proposed new well to offer the possibility of a substantial increase in oil production and cash flow. Under the current planned scenario, this proposed horizontal well has the ability to have a material impact on the Company's operational performance in 2008.
The Company continues to analyze different exploration and development scenarios for 2008. However as a corporate goal, Lexaria expects to between double and triple its production by the end of December, 2008 based on expected cash flows from existing producing wells.
Lexaria notes that its current cash position combined with cash flow from operations is expected to be roughly sufficient to meet all current obligations and expenses throughout most or all of 2008, including the drilling of the above-mentioned horizontal development well.
Separately, Lexaria notes that a recent exploration well, the PP F-6A, was abandoned due to encountering only non-commercial quantities of gas.
Investors can post questions at www.agoracom.com/IR/Lexaria and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to LXRA@agoracom.com, where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.
ELECTRON SOLAR ENERGY (OTC: ESRG)
"Up 32.00% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/ESRG.php
Electron Solar Energy, based in Miami, Florida, is engaged in the international distribution of alternative energy systems. The Company's turnkey solutions provide solar and wind energy generation, as well as energy storage systems sold B2B and B2C worldwide. The Company also sells a proprietary line of sealed batteries, inverters, converters, Solar Panels, Related components, and gas and diesel fuel generators. For more information, visit http://www.electronsolarenergy.com/.
ESRG News:
January 4 - Electron Solar Energy Selected by Two Major U.S. Manufacturers to Distribute Wind Energy Systems
Electron Solar Energy (OTC: ESRG), an international distributor of alternative energy systems, announced that it entered into a sales and distribution arrangement with two major U.S. manufacturers of wind energy systems to bring their wind generators to the Latin American and Caribbean markets.
President and CEO of Electron Solar Energy, Christopher Quinn said, "Wind energy is a very exciting renewable and eco-friendly technology. This move represents an important complement to our suite of solar energy products. On cloudy days, wind power is ideal for use as a compliment or add-on to solar energy systems, and is a viable power generation option in itself, in lieu of solar panel arrays in other regions. Wind generator technology is being embraced by Latin American countries like Brazil, Argentina, Mexico and Costa Rica as a means to cost-effectively bring reliable power to remote locations as well as densely populated cities without using existing power lines."
"Many of our existing distributors have requested wind generator systems, and we are now capable of dispatching industry-leading wind generator systems directly from our warehouse in Miami, Florida to anywhere in Latin America or the Caribbean with same-day delivery if needed. We have a knowledgeable staff and web portal capable of communicating in English, Spanish or French, which enables us to best serve hard-to-reach markets in need of renewable energy sources," added Quinn.
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