Our Stocks to Watch today include Bolivar Mining Corporation (OTC: BOLV), Virtual Media Holdings Inc. (OTCBB: VMHIF), Avistar Communications Corporation (NASD: AVSR), Wellman, Inc. (OTC: WMAN), Ulysses Holding Corp. (OTC: UHCR)
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BOLIVAR MINING CORPORATION (OTC: BOLV)
"Up 21.43% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/BOLV.php
Company Profile: http://www.otcpicks.com/bolivar-mining/bolivar-mining.htm
Company Overview
Bolivar Mining Corp, (BOLV or BMC) is a metals mining and exploration company engaged in global mining projects in over seven countries on three continents. By implementing efficient operations and engineering excellence, BMC will have opportunities to operate in areas where larger mining companies cannot operate profitably or have overlooked, thus allowing access to bring rich mineral reserves to the global market.
In a world beginning to starve for natural resources, Bolivar Mining Corporation (BMC) provides those mineral resources by exploring for and developing needed industrial and strategic mineral deposits that the larger companies cannot economically develop, due to their size and costs of operations. BMC currently has the mining rights to a number of industrial and strategic mineral deposits located on three continents and in over seven countries.
Projects:
Canada - Several projects are being evaluated for their metals potential and or are in the process of negotiating for the rights to mine gold, silver, and platinum group metals.
Ecuador - BMC is reviewing materials to begin exploration of a significant Carnotite deposit which will yield uranium and vanadium metal.
Peru - This country currently has the largest number of mining projects under evaluation, with a total of eight, ranging in metals from gold, silver and platinum to the uraninite group minerals.
Chile - BMC is in the process of developing an exploration program for several high-grade metal ores prospects.
Afganistan - BMC is exploring the opportunity to acquire several significant, high-grade iron ore deposits.
Pakistan - BMC is currently evaluating two high-grade metal ore deposits located in Pakistan. One is a high potential chromium deposit and the other is a high-grade iron ore deposit.
China - BMC is negotiating a joint-venture with our Chinese partner to develop gold and silver deposits.
BOLV News:
January 9 - Bolivar Mining Corp adds Chief Mineralogist and Geologist Officer
Bolivar Mining Corp. (OTC: BOLV) announces that Dr. Robert B. Cook, Jr. has joined the BMC Group as their Chief Mineralogist and Geological Officer. "Dr. Cook is an esteemed Mineralogist and Geologist," says Arshad Shah, BMC's CEO and President, "He will play a significant role as BMC matures its international mineral exploration program."
Michael M. Ellis, Bolivar's Chief Engineering, Exploration and Mining Officer adds, "Dr. Cook is a legend in the field of mineralogy and geology. He is a milestone in BMC's quest to develop a world class geotechnical team. I am thrilled to have a talent such as Dr. Cook join our team."
In his new role, Dr. Cook will locate and evaluate mining opportunities, assess reserves and establish procedures for such assessment, provide advisement on mining activities by Bolivar or its subcontractors, and assist in the preparation of project reports in the event mining leases are sold to third parties.
Professor Robert B. Cook, Jr. is an internationally renowned Registered Professional Geologist and Mineralogist, with close to half a century of experience as an exploration geologist and mining engineer. He has authored or co-authored over 220 professional papers and articles with another 119 unpublished professional papers written for major mining and exploration companies. Dr. Cook's list of clients reads as a who's who in the field of mining and metals exploration. He is now a Professor Emeritus at the Department of Geology and Geography, Auburn University where he had been Chair for twenty-two years. In 1966 Dr. Cook received his E.M. in Mining Engineering from the Colorado School of Mines, his M.S. in Geology from the University of Georgia in 1968 and his Ph.D. in Geology in 1971 from the University of Georgia. Dr. Cook's major positions held; his significant honors and awards; his grants, contracts and proposals; professional societies; and his service to the profession are legendary, and far too numerous to list here.
VIRTUAL MEDIA HOLDINGS (OTCBB: VMHIF)
"Up 18.75% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/VMHIF.php
Virtual Media Holdings Inc started as a reseller of VHS and DVD movies. As the Canadian dollar increased in value versus the USA dollar and the margin shrunk on DVD’s we had to revisit our business strategy and change to a business model that would provide the flexibility and ability to adapt to new sales methods as we developed them. Management has identified numerous eMarketplace projects that will be introduced in the near future, these products we expect will add tremendously to our bottom line. Our priorities will be to continue to add new product lines and services turning us into a true Advanced eMarketplace Systems company. Current outstanding shares 96,502,717 as of June 20, 2007.
VMHIF News:
January 9 - Virtual Media Holdings and Cortection Products Ltd. Sign Letter of Intent
Jim Carroll, Chief Executive Officer of Virtual Media Holdings Inc. (OTCBB: VMHIF), announced that a Memorandum of Understanding (MOU) has been signed with Cortection Products Ltd. The MOU calls for both companies to complete their due diligence and finalize an agreement to merge by February 28, 2008.
Cortection Products Ltd. is a Canadian company committed to the research, development and design of garments, supports and braces that enhance athletic performance and contribute to improve overall quality of life for all ages and lifestyles. Ten years of research led to the development of CORESHORTS(TM), an anatomically correct compression short for support of the pelvis, groin and hip areas. CORESHORTS(TM) innovative-patented design has created a new industry standard and is rapidly becoming an essential component of both recreational and professional athletic equipment.
CORESHORTS(TM) is currently being used by professional athletes on every National Hockey League team, seventeen National Football teams, eight National Basketball Association teams, sixteen Major League Baseball teams, six Canadian Football League teams, four Major League Soccer teams, as well as over 175 Universities and Colleges.
The professional athlete and supporting medical community have embraced the new technology and recognize the superior benefits that CORESHORTS(TM) provide in injury prevention, recovery and performance enhancement.
Upon completion of the merger an application will be filed to change the Company's name to Cortection.
AVISTAR COMMUNICATIONS CORPORATION (NASD: AVSR)
"Up 13.17% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/AVSR.php
Avistar Communications Corporation develops, markets, and supports a suite of vBusiness video-enabled eBusiness applications in the United States, Europe, and Asia. The company offers networked video communications software and hardware products and services. Its products include applications for interactive video calling, content creation and publishing, broadcast video, and video-on-demand, as well as data sharing, directory services, and network management. Avistar Communications also provides various services for installation, design, and adoption of its video communications products. The company, through its subsidiary, Collaboration Properties, Inc., engages in the prosecution, maintenance, support, and licensing of the intellectual property that company develops. In addition, it provides software development, consulting, implementation, training, maintenance, and support services. Further, the company licenses its technology and patents to companies in the video conferencing market. Avistar Communications sells its system directly to enterprises primarily in the financial services industry. The company was founded in 1993. It was formerly known as Avistar Systems Corporation and changed its name to Avistar Communications Corporation in 2000. The company is headquartered in Redwood Shores, California.
AVSR News:
January 7 - Leucadia National Leads $7 Million Investment in Avistar
Company Insiders Invest $3 Million of Total to Fund Growth
Avistar Communications Corporation (NASD: AVSR), a provider of video-enabled unified communications solutions, announced that it concluded a financing round on January 4, 2008 of $7 million of convertible debt, led by Leucadia National Corporation (NYSE: LUK). Five of Avistar’s seven Directors, including its new CEO and its Chairman, were among the other investors who contributed $3 million of the total. Raising working capital to fund implementation of its new “go-to-market” strategies is a central element of Avistar’s turnaround strategy, as described by the company in a press release dated November 8, 2007.
“Avistar’s management is pleased to begin an association with Leucadia, which shares our confidence in the growth opportunities for our business. We believe the investment by Leucadia and a number of members of the Board and management is a strong validation of our new strategic initiatives, the significant structural changes that are now beginning to gain traction, recognition of the progress made by the new management team in a very short period of time, and the long-term earning potential of our intellectual property and product portfolio,” said Simon Moss, Avistar’s new CEO. “Leucadia’s investment track record, as evidenced by its 33% compounded annual growth rate in share price from 1978-2006, speaks volumes about its ability to identify successful long term investments that others miss. I believe Avistar will benefit greatly from its association with Leucadia and look forward to a successful and robust relationship.”
The notes are convertible into Avistar common stock after the first anniversary, and carry a 4.5% interest rate. The notes purchased by the investors have a conversion price of $.70 and a two year term. Avistar’s common shares closed at $.38 on Nasdaq’s Capital Market on Friday, January 4, 2008.
“Avistar has had a consistent annual growth rate in revenue and income from our licensing activities of greater than 40% over the last several years, owing to a sizable and highly monetize-able patent portfolio and field-tested product portfolio”, said Robert Habig, Avistar’s CFO. “We believe we are effectively positioned in terms of business strategy, existing clients demonstrating the value-added benefits and scalability of our products, and our technology portfolio, to address opportunities created by an accelerating unified communications market.”
ABOUT LEUCADIA NATIONAL CORPORATION
Leucadia National Corporation is a diversified holding company engaged in a variety of businesses, including manufacturing, telecommunications, property management services, gaming entertainment, real estate activities, medical product development and winery operations. The company concentrates on return on investment and cash flow to maximize long-term shareholder value. Leucadia National Corporation (LUK) is publicly traded on the New York Stock Exchange.
WELLMAN INCORPORATED (OTC: WMAN)
"Up 36.84% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/WMAN.php
Wellman, Inc. manufactures and markets polyethylene terephthalate (PET) resins and polyester staple fibers. It operates in two segments, Chemical-Based and Recycled-Based. The Chemical-Based segment offers PermaClear, PermaClear HP, and Thermaclear Ti solid-stated PET resin from chemical-based raw materials for use in the manufacture of plastic beverage bottles and other food packaging; and Fortrel chemical-based polyester staple fiber for use in non-woven, home furnishing, and industrial products. The Recycled-Based segment provides Wellamid and Wellamid Ecolon recycled-based nylon engineering resin in the United States for use in the injection molding industry. The company operates primarily in the United States, Ireland, and the Netherlands. Wellman was founded in 1927 and is based in Fort Mill, South Carolina.
WMAN News:
January 8 - Wellman Appoints Chief Operating Officer
Wellman, Inc. (OTC: WMAN) announced the promotion of Mark Ruday to Chief Operating Officer reporting to Tom Duff, Wellman’s Chief Executive Officer and Chairman of the Board of Wellman, Inc. Mr. Duff stated, “Mark has provided important leadership and this promotion formalized the role he was performing. His leadership will help maintain our focus on business operations while exploring strategic alternatives for the Company. We expect that he will continue to add significant value to the Company in his new position.”
Reporting to Mr. Ruday will be Steve Ates, Vice President of Sales and Marketing, Ian Shaw, Vice President of Manufacturing and Research & Development, and Barry Taylor, Vice President of Human Resources and Safety, Health, and Environmental.
Mr. Ruday has held various operations and accounting positions in the Company, including his current position of Vice President, Business Operations and prior to that as Vice President, Controller and Chief Accounting Officer. He is a graduate of Brown University with a dual degree in Economics and Organizational Behavior & Management and received a Masters Degree in Accounting from Bryant College.
ULYSSES HOLDING CORPORATION (OTC: UHCR)
"Up 41.67% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/UHCR.php
Ulysses Holding Corp. is a start-up retail optical holding company with an aggressive plan towards rapid expansion and revenue growth within the next 12 months. The company will focus only on profitable outlets with average or better industry margins. Currently, UHCR has 2,000,000 preferred shares and 4,148,462 common shares outstanding in the public float.
UHCR News:
January 9 - Ulysses Holding Corp. Enters Two New Long Term Lease Agreements to Establish Two New Optical Centers in Major Markets
Ulysses Holding Corp. (OTC: UHCR) announced that it has negotiated two new lease agreements in major markets to establish and build out two new retail optical centers.
The company has entered into two long term lease agreements to establish and build out two new retail outlets under its Westtown Optical Brand, the first location will be in New Jersey and the second location will be in the Metropolitan New York Area.
The company will build out its New York Metropolitan outlet as a flagship optical superstore, thus creating name recognition for its other outlets going forward.
The company will fund this activity via its established line of credit, with no dilution in equity to its shareholders.
"We are very focused on achieving our previously stated goals of growth of 12 to 15 outlets within the first year of business and these leases are a great start towards those goals. We will continue to find the best opportunities in the multi-billion dollar vision industry and capitalize on them as we strive towards our objective," said Clayton Young President & CEO.
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