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American Power Corp. (OTCBB: TGMP) $1.04. Announced yesterday that it will proceed to kick start the development of its advanced Pace Coal Project in Judith Basin County, Montana.
In April 2010, American Power Corp. acquired roughly 29,000 acres, which make up the Pace Coal Project. In 1979 Mobil Oil Co. (now ExxonMobil) drilled 30 holes over 14,000 of the project's acreage, and delivered 45 samples which were later sent to an independent laboratory for analysis. It was subsequently determined that both the quality and the quantity of coal on the Pace acreage was high and significant, respectively. Several independent reports were commissioned based on the development work undertaken by Mobil Oil, determining there could be in excess of 410 million tons of high volatility bituminous coal potential on the Pace acreage.
Al Valencia, CEO of American Power Corp. commented: "A tremendous amount of work has already been undertaken on the Pace Coal Project and we continue to work towards our stated goal of proving up a mineable reserve and preparing a mine plan to re-establish coal production on the property as soon as possible."
Montana's demonstrated reserve base of 119.1 billion short tons of coal represents over 24% of America's total demonstrated coal reserve base of 487.7 billion short tons. Of particular importance, the coal at the Pace Coal Project is bituminous B coal, which, due to its higher BTU rating, secures a higher market price than most of Montana's coal (typically sub-bituminous or lignite).
What They Do: American Power Corp. is a publicly traded, dynamic energy company based in Denver, Colorado. The Company was established with the focus of acquiring near-term, large scale coal projects in close proximity to national transportation links. American Power envisions developing its large coal resources to support electricity generation.
American Power is a member of the Montana Mining Association, and holds approximately 29,000 acres in Judith Basin County, Montana. The estimated resources in place, based on exploration work conducted by Mobil Oil Co. (now ExxonMobil Corp.), and in several independent studies, range from 172 million up to 410+ million tons of high volatile bituminous B coal.
Megola Inc. (OTCBB; MGON) $0.07. Today announced developments of its "Anti-Fire" product, Hartindo™ AF21, a non-toxic, environmentally-friendly fire inhibitor. Hartindo™ AF21 has been blended into the manufacturing process of polyurethane foam insulation and was found to have positive effects in inhibiting flame spread and smoke.
"This is yet another vertical market that we have been investigating for some time with the Hartindo AF21 fire inhibitor. We will continue to seek industry specialists and work with them to enhance the fire resistance capabilities of their products in hopes of setting new fire standards that will ultimately save lives and property," states Joel Gardner, CEO of Megola Inc.
What They Do: Megola Inc. is committed to providing environmental solutions through advanced technology and solving environmental problems using the most environmentally sustainable means possible that in the long term will have positive impact on company budgets and the environment.
The Beard Company (OTCBB: BRCO) $1.05. Today announced its operating results for the second quarter and first half of 2010. For the quarter ended June 30, 2010, the Company reported a net loss attributable to common shareholders of ($943,000), or ($0.05) per diluted share, compared with net earnings attributable to common shareholders of $5,123,000, or $0.24 per diluted share, in the second quarter of 2009. Revenues totaled $104,000 in the most recent quarter, versus $42,000 in the prior-year period.
The Company reported a net loss attributable to common shareholders of ($1,747,000), or ($0.09) per share, for the six months ended June 30, 2010, compared with net earnings attributable to common shareholders of $4,850,000, or $0.23 per diluted share, in the corresponding period of the previous year. Revenues in the first half of 2010 totaled $244,000, versus $348,000 in the six months ended June 30, 2009.
Operating results for the second quarter and six months of 2009 benefited from non-recurring pre-tax gains of (i) $4,897,000 attributable to the sale of the Company's remaining interest in the McElmo Dome CO2 Unit and (ii) $832,000 from the settlement of the Visa litigation. No similar non-recurring gains were recorded in the second quarter or first half of 2010.
What They Do: The Beard Company creates, acquires, and/or invests in businesses, primarily related to natural resources, that management believes have high growth and/or above-average profit potential and can enhance shareholder value.
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