Our Stocks to Watch today include Copper King Mining Corporation (OTC: CPRK), Tegal Corporation (NASD: TGAL), Mega Media Group (OTCBB: MMDA), VitalTrust Business Development Company (OTCBB: VTBD)
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COPPER KING MINING (OTC: CPRK)
Detailed Quote: http://www.otcpicks.com/quotes/CPRK.php
Company Profile:
http://www.otcpicks.com/copper-king-mining/copper-king-mining.htm
Copper King Mining Corporation currently owns approximately 1200 acres in the Drum Mountains of Utah, which are patent deeded mining claims which contain gold, silver and copper. The company recently added to its holdings by filing six more claims on land which was inside their holdings, but not patent deeded. Contiguous to that acreage is approximately 1100 acres of claims filed by Western Utah Copper Company. As the companies explored the concept of a joint venture on the Drum Mountain properties, it was decided that a very viable consideration was to join the total assets of both companies.
CPRK News:
February 5 - Copper King Mining Corporation Signs an Irrevocable Purchase Order with Kataman Metals
Copper King Mining Corporation (OTC: CPRK) announced that Kataman Metals of St. Louis, Missouri has provided an irrevocable purchase order for the life of the mine to purchase all metals produced at the mine. Kataman will direct where to ship the concentrate for refinement. Payment can be made on verification of shipment. Kataman has been in business for over 15 years and is a large company that purchases metal production from nearly all big producers.
Interested parties may view photos and video of the patent deeded areas owned by Copper King Mining Corporation at http://www.thecopperkings.com/ and assets owned and controlled by Western Utah Copper Company at http://www.westernutahcopper.com/.
TEGAL CORPORATION (NASD: TGAL)
"Up 41.49% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/TGAL.php
Tegal Corporation engages in the design, manufacture, marketing, and servicing of integrated circuit fabrication equipment. Its systems enable the production of integrated circuits, memory, and related microelectronics devices used in personal computers, wireless voice and data telecommunications, contact-less transaction devices, radio frequency identification devices, smart cards, data storage, and micro-level actuators. The company offers plasma etch technology products, such as 6500 Series Etch products and 900 Series Etch products; and deposition technologies that include Endeavor Physical Vapor Deposition (PVD) products, AMS PVD products, and Compact Nano-Layer Deposition products. Tegal sells its products to semiconductor and nanotechnology device manufacturers in the United States, Asia, and Europe. The company was founded in 1972 and is headquartered in Petaluma, California.
TGAL News:
February 5 - Tegal Corporation Reports Third Quarter of Fiscal 2008 Net Income of $0.40 Per Share
Second Consecutive Quarter of Profitability in FY'08
Tegal Corporation (NASD: TGAL), a leading designer and manufacturer of plasma etch and deposition systems used in the production of integrated circuits and nanotechnology devices, today announced financial results for the Third Quarter Fiscal Year 2008, which ended December 31, 2007. Senior management will conduct an investor conference call to discuss these results and the company’s financial outlook in more detail today at 2 p.m. Pacific Time, Tuesday, February 5, 2008. More information about the conference call is provided below.
Third Quarter Highlights:
*Net income of $2.8 million or $0.40 per share, compared to a net loss of ($6.1) million during the same period last year and net income of $0.7 million in the immediately preceding second quarter.
*Gross margins increased to 43.6% from 39.3% in the immediately preceding second quarter.
*Operating income of $1.7 million, which included non-cash charges of $0.3 million for stock compensation, depreciation and amortization expense.
*Shipments included 2 advanced etch systems for high volume manufacturing in Asia and an advanced PVD system to a US maker of commercial MEMS accelerometers and inertial sensors.
*A repeat advanced etch system order from Skyworks Solutions, Inc., a global leader in front-end modules for handsets and wireless devices.
*The Company appointed Carl Muscari to its Board of Directors.
“We are pleased with our third quarter results, which represent our second consecutive quarter of profitability and will make us solidly profitable for the entire fiscal year 2008,” said Thomas Mika, President and CEO of Tegal Corporation. “Since we are not in mainstream semiconductor markets, we are somewhat immune to industry fundamentals, which appear to be negative due to the overall memory pricing environment and other factors. Our focus on faster growing markets has allowed us to perform extremely well while others in the industry have had difficulties. However, given that our end markets are consumer-driven, an overall economic slowdown could cause a push-out of orders and we intend to be cautious in our near term outlook. Importantly, despite any negative macro-economic factors we remain confident that we can continue to generate cash throughout the balance of this fiscal year and into next year. We also believe that this is an ideal time to introduce new products, as customers have the capacity for new tool evaluations and we continue to focus activity in this area. Additionally, we are satisfied that our final settlement with our former attorneys was in the Company’s best interests and we are content to have this distraction behind us.”
Financial Results:
Revenues for the third quarter of fiscal 2008 were $10.1 million, an increase of 132% from the $4.4 million in the same period last year. Tegal reported net income of $2.8 million, or $0.40 per share, for the quarter, compared to a net loss of ($6.1) million, or ($0.86) per share in the same period last year, and a net income of $0.7 million, or $0.10 per share in the prior quarter.
Gross profits for the third quarter of fiscal 2008 were 43.6% compared to a negative (30.3%) in the same period last year, and up from the 39.3% in the prior quarter.
Operating income for the third quarter was $1.7 million, including approximately $0.3 million of non-cash charges. This was an improvement over the ($6.4) million operating loss in the same period last year and the $0.7 million operating income in the prior quarter, which included $2.7 million and $0.6 million of non-cash charges, respectively.
Backlog was $4.0M at the end of the quarter.
On January 16, 2008, subsequent to the end of the quarter, the Company settled its fee dispute with Keker & VanNest (KVN), the second and final firm of attorneys representing SFI and Tegal in its lawsuit with Sergey Mishin, AMS, Agilent Technologies and the Avago Entities. KVN had claimed it was owed fees in the amount of approximately $6.72 million. A payment of $3.8 million was made to KVN and the litigation suspense has been eliminated.
As of December 31, 2007, the balance sheet still reflects an $18.5 million Litigation Suspense liability account. The elimination of the liability and the income from the lawsuit settlement will be reflected in the fourth quarter of this fiscal year. This will have a material positive effect on the reported income for the Company’s fourth quarter, its retained earnings and book value.
Cash at the end of the fiscal third quarter of 2008 was $19.8 million, a $6.0 million decrease from the end of the March quarter. Accounts receivable increased $3.6 million to $10.2 million and inventories increased by $5.5 million to $11.1 million over the same period.
MEGA MEDIA GROUP INCORPORATED (OTCBB: MMDA)
"Up 56.25% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/MMDA.php
Mega Media Group, Inc., through its subsidiaries, operates as a multi-media company that focuses on entertainment and media, and Russian ethnic media in North America. The company offers a range of services, including talent management, corporate and lifestyle branding, music publishing, recording, music production and distribution, video production and distribution, radio broadcasting, and Russian ethnic programming. It also invests in and develops various entertainment properties; balances acquires existing media properties, such as purchasing existing recordings and publishing catalogs; acquisition and development of newer media ventures, such as mobile and new technology media projects; and signs and develops emerging musical artists. The company provides music publishing, branding, and talent management services to mainstream artists, producers, executives, and songwriters. It also focuses on providing Russian-ethnic entertainment content to the Russian-American community through its radio station, live promotions, and recorded ethnic music projects. The company was founded in 2004 and is headquartered in New York, New York.
MMDA News:
February 6 - Mega Media Group Announces the Launch of Pulse 87 Radio Station for February 11th and the Hiring of New Program Director for Pulse 87.7 FM
Pulse 87.7 FM, the rhythmic top 40 station will be launched by Mega Media Group (OTCBB: MMDA) (www.megamediagroup.com), on February 11th at 6am, the station will feature the Highly popular Star & Buc Wild Morning Show which will debut on February 18th weekdays from 6 to 10am and today's top music hits. Joel Salkowitz will become the station's program director.
Industry Veteran Joel Salkowitz To Lead Station
Salkowitz is a veteran major market programming and operations executive, who recently served as Vice President of Music Programming and Content at Sirius Satellite Radio. Prior to joining Sirius, Salkowitz was with Clear Channel Communications as a Format Director and Brand Manager overseeing the launch and programming for 10 major market stations, as well as serving as Program Director for JAMMIN 105 -- New York (WTJM-FM). His past experience also includes management, production and programming positions at Fox Television, E.M.I. Records, Westwood One, ABC Radio, NBC Radio and Emmis Communications. As Regional VP of Programming at Emmis' HOT97 (WQHT) in New York, he helped develop the Rhythm Top 40 format that dominated contemporary radio during the late 1980s and early 1990s and was also responsible for overseeing programming at Emmis' WAVA (Washington DC) and WLOL (Minneapolis).
Commenting on the announcement, Mega Media Group CEO, Alex Shvarts stated "I am pleased that Joel is leading our radio team. His wealth of experience with building stations and managing major market radio personnel will prove invaluable to the launch of Pulse 87."
Also commenting on the announcement, Salkowitz said, "I am excited to be a part of a new, independent radio business that I can help to grow from its very inception. It will be especially gratifying to work with Star who is one of the top morning talents in the country and who was able to have such a huge impact on not one, but two radio stations in New York. He's a one-of-a-kind personality and together with a unique music format, we're going to give New York something to get excited about on the radio again."
VITALTRUST BUSINESS (OTCBB: VTBD)
"Up 44.44% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/VTBD.php
VitalTrust Business Development Corporation operates as a closed-end management investment company. It provides equity and long-term debt financing to small and medium-sized private companies in various industries in the United States. The company holds 100% interest in American Card Services, Inc., which intends to make investments in financial services and real estate entities; and Entellectual Solutions Properties Group, Corp., which develops, acquires, integrates, and delivers various technologies and solutions to the market. Entellectual Solutions Properties Group owns three product lines: Campus, an enterprise level application service provider designed as a productivity enhancement system; VitalTrust, a network of community healthcare information utilities for healthcare information archive and provider share technology; and Health Centrics, a medical practice manager designed from the outset in the application service provider model. VitalTrust Business Development Corporation is based in Tampa, Florida.
VTBD News:
February 6 - VitalTrust Engages Mr. Frank Sanchez as Consultant for International Trade and Governmental Affairs
VitalTrust Business Development Company (OTCBB: VTBD) (“VTBD” or the “Company”) announced that it has engaged Mr. Frank Sanchez Esq. as a consultant to assist the Company in its efforts with regards to International Trade of Renewable Energy Products. Further, the Company will be utilizing Mr. Sanchez’s exceptional political experiences to assist with crafting and implementing strategies designed to further enhance United States based, renewable resources utilization, sales and marketing.
Mr. Sanchez joins the team as a partner in CM Partners, an international consulting firm specializing in interest-based negotiation strategy, alliances, and mediation. He has extensive experience in both the public and private sector. He served in the Clinton administration first as Special Assistant to the President, Office of the Special Envoy for the Americas working on economic integration, trade and promotion of democracy in Latin America and then as Assistant Secretary of Transportation in charge of Aviation and International Affairs. His responsibilities included coordinating policy on international and domestic aviation, international trade and other international transportation issues. He holds a Bachelors of Arts Degree in Multi-National Business and Spanish as well as a Law degree from Florida State University and he is a graduate of Harvard University, John F. Kennedy School of Government with a Masters Degree in Public Administration.
“We are quickly building a team that can help execute on the tremendous opportunities that have been identified by the Company for the International Trade of Renewable Energy Products,” commented Alex H. Edwards III, VitalTrust CEO. “Frank’s background, relationships, and international experiences in trade negotiation as well as his understanding of the current political landscape in the United States, the Americas, and Abroad make him a needed asset of the Company.”
Mr. Sanchez engagement starts immediately. He can be contacted at fsanchez@renwenergy.com.
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