Today’s notes include: Spongetech Delivery Systems Inc. (SPNG), Allergy Research Group Inc. (ALRG), NextPhase Wireless (NPHS), Neah Power Systems Inc. (NPWS), DigitalTown Inc. (DGTW), and Zynex Inc. (ZYXI).
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“Shares of SpongeTech Delivery Systems Inc. soared 22% to 3 cents in Tuesday’s mid-morning trading. SPNG announced August 4, 2008, that the Dubai Export Import Company, in Dubai, has received a second re-order of 210,000 units of its patented Auto Care products and a new order of 10,000 test units of SPNG’s new kitchen and bath sponges, which is the company's newest product line in the household cleaning product division. The order total from the Dubai Export Import Company is in excess of $4.2 million. This order will be pre-paid prior to shipping. The company expects to ship the completed order by December 15, 2008…
“SPNG COO, Steven Moskowitz said, ‘We are very pleased with the third and biggest order of 210,000 units. The first in November was 11,000 units; the second was 55,000 units in April, and now this one. What a show of positive response to our products in Dubai! This provides us an indication as to the success we will be seeing in the launching of our new product lines from our other divisions. We are confident that our customers will order our other SpongeTech products as they come to market. SpongeTech is on its way to becoming a worldwide household brand.’…”
“KI NutriCare Inc. and Allergy Research Group Inc. today announced that KI NutriCare, a wholly-owned subsidiary of Kikkoman Corporation Longhorn Acquisition Corp., a wholly-owned subsidiary of KI NutriCare formed to effect the transaction, and Allergy Research have entered into a definitive agreement pursuant to which Allergy Research Group will be acquired for approximately $19,500,000 through an all cash tender offer of $1.33 per share by Longhorn Acquisition Corp. The news sent Allergy Research shares up 3.20% to $1.29 Tuesday morning…
“The transaction was unanimously approved by the Allergy Research’s board of directors, based in part on the recommendation of a special committee of its independent directors. Upon completion of the acquisition, Allergy Research will become a wholly-owned subsidiary of KI NutriCare and will continue operations in Alameda, California...”
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