EGPI Firecreek, Inc. (OTCBB:EFIR) reached up 16.67% in morning trading to $.014 with 1.5M shares traded. EGPI Firecreek, Inc.'s business and acquisition strategy is focused on oil and gas production with an emphasis on acquiring existing fields with proven reserves, the rehabilitation of potentially high throughput oilfields, resource properties and inventories, through its wholly owned subsidiary Energy Producers, Inc. (Energy Producers) and for oil and gas servicing business through its wholly owned subsidiary Chanwest Resources, LLC. EGPI Firecreek, Inc. is also looking to expand into alternative energy sources as well as industries in the energy field. EGPI Firecreek, Inc. (OTCBB:EFIR.ob - News) (“EGPI”) announced yesterday through its wholly owned subsidiary Chanwest Resources, Inc. the execution of a Letter of Intent to acquire multiple leases for oil and gas production servicing East Texas and Louisiana through the current leaseholder ("The Company"). EGPI also anticipates the expansion into several additional workover programs in their third quarter of operations.
Empire Post Media, Inc. (OTCBB: EMPM) reached up 25% in morning trading to $.30 with 250K shares traded. Empire Post Media is an entertainment company pursuing opportunities in the television field. It brings cost-effective production methodology, and 3D technology, to established television genres, using market demand to stimulate production. The company focuses on three key areas in the television industry: post-production services; 2D to 3D conversion; and the creation, development, production and marketing of 3D television programming. Empire Post Media, Inc. (OTC.BB: EMPM.OB - News) announced that it has completed the acquisition of Hybrid Reality Entertainment, Inc., a creator, developer and producer of television programming. Hybrid Reality is now operating as a wholly owned subsidiary of EMPM.
SIGA Technologies, Inc. (Nasdaq:SIGA) reached up 13.75% in morning trading to $3.06 with 1M shares traded. SIGA Technologies, Inc. is a pharmaceutical company specializing in the development and commercialization of therapeutic solutions for some of the most lethal disease-causing pathogens in the world, including smallpox, Ebola, dengue, Lassa fever and other dangerous viruses. Their business is to discover, develop and commercialize drugs to prevent and treat these high-priority threats. Their mission is to disarm dreaded viral diseases and create robust, modern biodefense countermeasures. SIGA Technologies, Inc. (Nasdaq:SIGA - News) announced yesterday afternoon that the Delaware Court of Chancery has issued its post-trial opinion in the litigation commenced by PharmAthene, Inc. in 2006. The Court denied PharmAthene's contention that a draft license term sheet attached to the parties' 2006 merger agreement was a binding license and denied PharmAthene's request for specific performance of the alleged license. The Court ruled in PharmAthene's favor, however, on its claims for promissory estoppel and breach of the duty to negotiate a license agreement. The Court, after acknowledging that PharmAthene did not establish a right to any traditional form of relief on these claims, awarded to PharmAthene an "equitable payment stream" consisting of 50% of the net profits that SIGA achieves from the next ten years of sales of ST-246(R), its smallpox drug, after the first $40 million of net profits goes entirely to SIGA.
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