OTCPicks.com Stocks to Watch for Monday, December 1st OVRL, IMOS

Our Stocks to Watch tomorrow include Overland Storage Inc. (Nasdaq: OVRL) and ChipMOS Technologies (Bermuda) Ltd. (Nasdaq: IMOS).

OVERLAND STORAGE INCORPORATED (NASDAQ: OVRL)

"Up 72.35% on Friday"

Overland Storage, Inc. delivers data protection solutions for backup and recovery systems worldwide. Its products include Nearline data protection appliances, which provide alternative to high-end network attached storage, and storage area network solutions; disk backup and recovery appliances that are configurable as virtual tape libraries, standalone virtual tape drives, and/or disk volumes; and data protection software, including embedded storage operating system software and add on software module programmable automation controllers, which provide data protection intelligence and advanced capabilities. The company also offers tape backup and archive solutions, such as automated tape libraries manage multiple data cartridges and provide unattended backup of data. In addition, Overland Storage, Inc. offers VR2 (Variable Rate Randomizer), the company's patented data encoding technology, which is embedded in an applications specific integrated circuit chip and is capable of increasing the native capacity and data transfer rate performance of linear tape technologies. The company markets its products through original equipment manufacturers, direct market resellers, commercial distributors, and value-added resellers principally to small and midsize businesses, multinational corporations, governmental organizations, universities, and other non-profit institutions. Its products are used in various industry sectors, including financial services, healthcare, retail, manufacturing, telecommunications, broadcasting, and research and development. The company was founded in 1980 as Overland Data, Inc. and changed its name to Overland Storage, Inc. in 2002. Overland Storage, Inc. is headquartered in San Diego, California.

OVRL News:

November 27 - Overland Storage Announces $9 Million Receivable Financing Agreement

Overland Storage, Inc. (Nasdaq: OVRL) announced that it had closed an accounts receivable financing transaction with Marquette Commercial Finance. Under the terms of the agreement, Marquette may finance up to $9 million of the company's domestic accounts receivable to provide the company with accelerated liquidity. The term of the agreement is two years with annual renewals thereafter.

"This financing agreement with Marquette will allow us to continue our recovery and execute our strategy," stated Vern LoForti, president and chief executive officer of Overland Storage. "I remain encouraged by the strength and commitment of the Overland team, and by the support of our channel partners who continue to stand by us. We are focused on harvesting our recent investment in the Snap Server business and in delivering new solutions that can leverage the variety of platforms represented by the Overland family of data protection appliances.

"We are grateful to the team at FTI Capital Advisors, LLC who assisted us in our search and, in spite of a very challenging financing environment, worked tirelessly to provide us with a number of options, including Marquette.

Likewise, we are excited to be working with the team at Marquette, who has been extremely responsive and professional, and has the backing of a very successful and well capitalized parent company," concluded LoForti.

CHIPMOS TECHNOLOGIES (BERMUDA) LIMITED (NASDAQ: IMOS)

"Up 40.00% on Friday"

ChipMOS Technologies (Bermuda), Ltd. provides semiconductor testing and assembly services for liquid crystal display and other flat-panel display driver semiconductors worldwide, as well as for memory products in Taiwan. Its back-end testing services include engineering testing, wafer probing, laser repairing, burn-in testing, top marking, and final testing of memory and mixed-signal semiconductors. The company's assembly services comprise wafer lapping, die saw, die attach, wire bonding, molding, marking, dejunking and trimming, electrical plating, ball mount and reflow, and forming/singulation. In addition, ChipMOS Technologies offers a selection of leadframe-based and organic substrate-based package assembly services for memory and mixed-signal semiconductors; and gold bumping, testing, and assembly services for LCD and other flat-panel display driver semiconductors. Further, it provides drop shipment services, including assembly in customer-approved and branded boxes to its testing and assembly customers; and software engineering services, which consists of test program development, conversion and optimization, and related hardware design. The company's tested and assembled semiconductors are used in personal computers; graphics applications, such as game consoles and personal digital assistants; communications equipment, including cellular handsets; and consumer electronic products and display applications, such as flat-panel displays. ChipMOS Technologies markets its products and services through sales professionals, application engineers, and technicians. The company was founded in 1986 and is based in Hsinchu, Taiwan.

IMOS News:

November 28 - Spil Withdraws Imos Registration Rights Request

ChipMOS Technologies (Bermuda) Ltd. (Nasdaq: IMOS) ("ChipMOS" or the "Company") announced that Siliconware Precision Industries Co., Ltd. ("SPIL") (TAIEX: 2325; Nasdaq: SPIL) has informed the Company that SPIL has withdrawn its request for registration of 12,174,998 Company common shares. SPIL's registration request is referred to in the Company's November 17, 2008 press release and Form 6-K filing with the SEC.

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Forward-Looking Statement: This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.

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