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Evolution Fuels (Pinksheets: EVFN) $0.0001. Announced yesterday an update regarding the recent financial performance of the Willie's Place at Carl's Corner Truck Stop, of which the Company owns a membership interest.The state-of-the-art truck stop features 12 diesel/biodiesel fueling lanes for tractor-trailers plus a wide load island. There is a separate fueling island for cars and trucks.
In addition to the truck stop fueling facilities, "Willie's Place at Carl's Corner" features two restaurants, a convenience store, a saloon, a gift shop featuring official Willie Nelson merchandise and memorabilia, and the 500 seat "Night Life" theater that features regular live music performances.
Since the opening of the facility in December 2009, the truck stop has demonstrated significant improvement with respect to financial performance. Whereas the facility experienced average net losses (before interest, taxes, and depreciation) of more than $70,000 per month for the first quarter of 2009, the following three quarters averaged net losses of $16,000 per month. During the first quarter of 2010 the truck stop averaged net gains (before interest, taxes, and depreciation) of $14,000 per month, which improved to $43,000 per month during the second quarter of 2010.
The Improvements are due mostly to increased fuel sales concurrent with decreased operational expenses. Management expects performance to continue to improve as fuel volumes continue to increase.
What They Do:
Evolution Fuels, Inc. endeavors to market renewable transportation fuels at retail fuel stations that will provide superior quality fuels to competing fuel stations by virtue of the blending capability within the fuel dispensers at its stations and offering the blends at competitive prices. The stations will offer ethanol/gasoline blends of fuel including 10% ethanol/90% gasoline (E10), 20% ethanol/80% gasoline (E20), 30% ethanol/70% gasoline (E30), and 85% ethanol/15% gasoline (E85). The latter three blends are intended for flex-fuel vehicles, although recent studies have shown that many legacy vehicles on the road today may use E20 and E30 blends without incurring damage to the engines or fuel systems.
The Company's plan calls for the development of a chain of renewable fuel stations in the southwestern and southeastern United States that will be a combination of "Evolution Fuels"-branded fuel stations/convenience stores and western-motif truck stops modeled after Willie's Place Truck Stop in Carl's Corner, TX.
Trina Solar Limited (NYSE: TSL) $22.41. Today announced its financial results for the second quarter ended June 30, 2010. Second Quarter 2010 Financial and Operating Highlights: -- Solar module shipments were approximately 223 MW, compared to the Company's previous guidance of 200 MW to 205 MW, representing an increase of 15.7% sequentially and 248.7% year-over-year. -- Net revenues were $370.8 million, an increase of 10.1% sequentially and 147.2% year-over-year. -- Net income was $38.7 million, which includes a net foreign currency exchange loss of $29.2 million, compared to net income of $44.5 million in the first quarter of 2010. -- Earnings per fully diluted ADS were $0.52, which include the impact of a net foreign currency exchange loss of $0.37 per fully diluted ADS, compared to $0.66 in the first quarter of 2010.
What They Do:
Trina Solar Limited is a well recognized manufacturer of high quality modules and has a long history as a solar PV pioneer since it was founded in 1997 as a system installation company.
Pharmasset, Inc. (Nasdaq: VRUS) $24.75. Today announced dosing has begun in a Phase 2b study of PSI-7977, a nucleotide analog polymerase inhibitor for the treatment of chronic hepatitis C (HCV). The trial will evaluate PSI-7977 200mg QD and 400mg QD in combination with pegylated interferon alfa 2a and ribavirin, the current standard of care (SOC) in patients with HCV genotype 1 who have not been treated previously.
"We look for the Phase 2b to further support the efficacy, safety and resistance profile of PSI-7977 over 12 weeks, and to confirm a dose for continued development," stated Michelle Berrey, MD, MPH, Pharmasset's Chief Medical Officer. "Given the potent antiviral activity observed in the Phase 2a study and in vitro evidence for pan-genotype activity, we have also decided to include an exploratory, open label arm of patients with HCV genotype 2 and 3 who will receive a 12 week treatment regimen of PSI-7977 in combination with pegylated interferon and ribavirin. If successful, this shorter treatment regimen would be a first step toward defining a new treatment option for these patients."
What They Do:
Pharmasset is a clinical-stage pharmaceutical company committed to discovering, developing, and commercializing novel drugs to treat viral infections
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