Active Penny Stocks in the News
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Biofuel Energy Corp. (Nasdaq: BIOF) reached up 45.79% in morning trading to $2.45 with 1M shares traded. BioFuel Energy is an ethanol production company. Headquartered in Denver, Colorado, the company is currently operating two 110 million gallon per year ethanol production facilities in Fairmont, Minnesota and Wood River, Nebraska. BIOFUEL ENERGY CORP. (Nasdaq:BIOF - News) announced that it has entered into a six-month bridge loan agreement with Greenlight Capital, Inc. and certain of its affiliates (collectively, "Greenlight") and an affiliate of Third Point LLC ("Third Point"). The proceeds from the bridge loan were used to repay in full its working capital loans under its senior debt facility. In addition, the Company has entered into an agreement with Greenlight and Third Point pursuant to which it has agreed to conduct a rights offering in which all holders of its Common Stock and Class B Common Stock will be granted the right to purchase convertible preferred stock of the Company, with the goal of generating sufficient proceeds to repay the bridge loan and BioFuel Energy, LLC's subordinated debt and to make certain other payments. These transactions were recommended to the Company's Board of Directors by a Special Committee comprised of independent directors. The Special Committee was advised by Piper Jaffray & Co.
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BIOLASE Technology, Inc. (NASDAQ:BLTI) reached up 70.73% in morning trading to $1.40 with 400K shares traded. BIOLASE Technology, Inc., the world's leading dental laser company, is a medical technology company that develops, manufactures and markets lasers and related products focused on technologies that advance the practice of dentistry and medicine. BIOLASE Technology, Inc. (NASDAQ:BLTI - News) announced today that BIOLASE and Henry Schein, Inc. (NASDAQ:HSIC - News) have entered into a definitive agreement, by which Henry Schein will change its relationship with BIOLASE into a non-exclusive distributor of BIOLASE dental laser systems and consumables in North America. This constitutes a significant change because Henry Schein was BIOLASE's exclusive North American distributor from August 2006 through August 2010.
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Healthmed Services, Ltd. (OTC Bulletin Board: HEME) reached up 18.57% in morning trading to $.249 with 7M shares traded. HealthMed Services Ltd focus has been to develop products to better efforts of the healthcare industry through the use of technology. The company is building a revolutionary product that will forever change the way the healthcare industry communicates within itself. HealthMed remote desktop software will allow a handheld computer device to transmit information directly with a desktop pc or server. This will allow records to be electronically created and stored, rather than manual printed and scanned. This will reduce required manpower for pushing paper. This will allow for more accurate record keeping, thus decreasing lawsuits in a litigious society. Most importantly, it will also free up more time for healthcare professionals thus allowing more time to be spent with clients or family. Healthmed Services, Ltd. (OTC Bulletin Board: HEME; Pink Sheets: HEME) is excited to announce that their newest product Neural Communicator can operate Bing Images and Bing Maps.
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