OTCPicks.com Daily Market Movers Digest Midday Report for Wednesday, January 28th SPNG, EDVC, CBAI, QTM, CSAR, CTIC

Our Stocks to Watch today include SpongeTech Delivery Systems Inc. (OTCBB: SPNG), EnDevCo Inc. (OTCBB: EDVC), Cord Blood America Inc. (OTCBB: CBAI), Quantum Corp. (NYSE: QTM), Caraustar Industries Inc. (Nasdaq: CSAR) and Cell Therapeutics Inc. (Nasdaq: CTIC).

SPONGETECH DELIVERY SYSTEMS (OTCBB: SPNG)

SpongeTech Delivery Systems is a development stage company which designs, produces, markets and distributes cleaning products for vehicular use utilizing patented technology relating to sponges containing hydrophilic (liquid absorbing) foam polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, which is loaded with specially formulated soaps and wax that are released when the sponge is applied to a surface with minimal pressure. The Company's products are currently designed specifically for vehicular cleaning use. However, the Company is exploring the possibility of using its patented technology for the development of sponges for other uses, including for use with anti-bacterial, bath and kitchen soaps for household uses, as well as for use as a children's bath foam sponge.

ENDEVCO INCORPORATED (OTCBB: EDVC)

"Up 14.94% in morning trading"

EnDevCo is a dynamic energy company rapidly establishing an identity consistent with its operating philosophy of "Science Before The Drill Bit." The Company has domestic and foreign oil and gas projects with current interests in Oklahoma, the Gulf of Mexico offshore Louisiana, Colombia and Peru. EnDevCo's largest domestic property, Short Junction Field, located in Oklahoma, currently produces from 24 oil wells and 2 gas wells. EnDevCo maintains offices in Houston and Dallas, Texas.

CORD BLOOD AMERICA INCORPORATED (OTCBB: CBAI)

"Up 12.27% in morning trading"

Cord Blood America is the parent company of CorCell, which facilitates umbilical cord blood stem cell preservation for expectant parents and their children. Its mission is to be the most respected stem cell preservation company in the industry. Collected through a safe and non-invasive process, cord blood stem cells offer a powerful and potentially life-saving resource for treating a growing number of ailments, including cancer, leukemia, blood, and immune disorders.

QUANTUM CORPORATION (NYSE: QTM)

"Up 11.43% in morning trading"

Quantum Corp. is the leading global storage company specializing in backup, recovery and archive. Combining focused expertise, customer-driven innovation, and platform independence, Quantum provides a comprehensive, integrated range of disk, tape, and software solutions supported by a world-class sales and service organization. This includes the DXi-Series, the first disk backup solutions to extend the power of data deduplication and replication across the distributed enterprise. As a long-standing and trusted partner, the company works closely with a broad network of resellers, OEMs and other suppliers to meet customers' evolving data protection needs.

CARAUSTAR INDUSTRIES INCORPORATED (NASDAQ: CSAR)

"Up 13.64% in morning trading"

Caraustar Industries, Inc., through its subsidiaries, manufactures and markets recycled paperboard and converted paperboard products in the United States and Canada. It operates in four segments: Paperboard, Recovered Fiber, Tube and Core, and Folding Carton. The Paperboard segment produces uncoated recycled paperboard, as well as clay-coated recycled paperboard. The Recovered Fiber segment collects, sells, and brokers recovered fiber. The Tube and Core segment produces tubes and cores that are used in textile cores, paper mill cores, yarn carriers, carpet cores, and film, foil, and metal cores. It also manufactures specialty converted products used in industrial packaging protection applications. The Folding Carton segment manufactures folding cartons and rigid set-up boxes, which are used principally as containers for paper goods, hardware, candy, sporting goods, frozen foods, dry food, film, and various other industrial applications, including textile and apparel. The company, through its joint venture with Temple-Inland, Inc., produces a lightweight gypsum facing paper along with containerboard grades. Caraustar distributes its products through its own sales force, and divisional and corporate level sales personnel, as well as direct sales. The company was founded in 1938 and is based in Austell, Georgia.

CELL THERAPEUTICS INCORPORATED (NASDAQ: CTIC)

"Up 12.58% in morning trading"

Headquartered in Seattle, CTI is a biopharmaceutical company committed to developing an integrated portfolio of oncology products aimed at making cancer more treatable.

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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.

Disclosure: OTCPicks.com has been compensated two hundred thousand free trading shares by a third party (Pine Mountain Ventures) for this current SPNG IR program. OTCPicks.com has been compensated in the past for SPNG IR services, including seventeen thousand dollars by the company and four hundred thousand free trading shares by a non-controlling third party for multiple 30-day SPNG IR programs. OTCPicks.com has been compensated eight thousand dollars by a third party for an EDVC advertising and promotional program.

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