(Reuters) – Saks Inc (SKS.N) shares surged 22 percent on Tuesday after a published report that a group of private equity firms may soon launch a bid for the New York-based luxury department store operator.
Archive for August, 2010
Google acquires social networking startup Angstro
Posted on August 30, 2010Dell debuts first U.S. smartphone at $100
Posted on August 24, 2010Dell
(Reuters) – Dell Inc on Tuesday released its first U.S. smartphone, entering the increasingly crowded market with a 3.5-inch Android device called the Aero that costs about $100 on AT&T network.
Green Stocks On a Red Day In The Markets PPII, ARTS, DAKT, EEE,
Posted onDear Subscribers,
THE STOCK WIZARDS STOCK WATCH LISTS INCLUDES: (OTC: PPII) Pro-Pointer, Inc. (OTCBB: ARTS) Artfest International, Inc. (NASDAQ: DAKT) Daktronics, Inc. (NYSE: EEE) Evergreen Energy, Inc.
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(OTC: PPII — Pro-Pointer, Inc.)
CURRENT NEWS!!
Pro-Pointer, Inc. Introduces a Revolutionary Supplement for Stress and Anxiety
LAS VEGAS, NV, Aug 24, 2010 — Pro-Pointer, Inc. (PINKSHEETS: PPII), through its wholly-owned subsidiary Coenzyme-A Technologies, Inc., proudly announces today the introduction of their latest Nutraceutical development, the “MODULATOR MATRIX I” formula, especially designed to help the individual user to effectively cope with today’s Stress and Anxiety Syndromes.
According to an American Psychological Association (APA) recent study, a total of 43% of adults in the U.S. suffer adverse health effects from stress. The National Institute of Mental Health reports that Anxiety disorders affect approximately 40 million American adults age 18 years or older. That clearly translates to 18% of the population in a given year. Stress is a psychological response to an external happening, whereas anxiety is a state of mind that is real or imagined and manifests itself in physical symptoms like rapid heart rate and sweaty palms, sleeping disorders and eventually depression.
Nickolaos D. Skouras, Ph.D., the President of Coenzyme-A Technologies, Inc., explains that both stress and anxiety can cause a cascade of biological reactions that occur in the brain. It is an over stimulation of the Hypothalamic-Pituitary-Adrenal axis, which over time can damage the immune system and cause a host of health issues. Current studies also show that the metabolic enzyme (Coenzyme-A) plays a major role in the body’s ability to cope with stress, anxiety, and depression and further strengthen the immune system. During the process of combating stress and anxiety, the human body secretes hormones as a means to adapt to the ever increasing daily stress levels. These hormones are derivatives of cholesterol and an increased demand for the synthesis of them by the human body will prioritize and draw on the remaining available Coenzyme-A pool, thus rendering a state of deficiency.
The market value of this revolutionary supplement for stress and anxiety becomes readily apparent with the out-of-pocket costs and undesirable side-effects of Anti-Depressant prescriptive medicine skyrocketing, unemployment rates at all time highs and access to affordable health care unavailable. Consumers are now turning to preventative OTC solutions and remedies to stave off illness, manage chronic injury and disease and promote overall health and well-being. Market acceptance of natural products and herbal dietary supplements is ever-growing as consumers pursue healthier, eco-friendly lifestyles.
Coenzyme-A Technologies, Inc. has independently developed the proprietary Coenzyme-A nutraceutical product “MODULATOR Matrix I” that naturally addresses hormonal imbalances. Chemical imbalance within the body and nutritional deficiencies that result from Stress and Anxiety disorders and the deleterious effects of Aging.
Based on the above facts, this latest Coenzyme-A development, “Modulator Matrix I,” and upon being properly marketed well, represents annual gross sales of several million dollars.
ABOUT COENZYME-A TECHNOLOGIES, INC. — Coenzyme-A Technologies, Inc. is an innovative company that has applied new technology to the formulation and manufacture of a series of proprietary products which address nutritional deficiencies that result from the stress of modern day living, chemical imbalances within the body, and the effects of aging. Coenzyme-A is the first nutraceutical product to combine nutritional components that can be successfully used by the body to support its manufacture and utilization of cellular Coenzyme-A (The Master Coenzyme). Coenzyme-A contains a specific set of substrates that are designed to assist the body in converting fats, carbohydrates and proteins into energy at the cellular level. See Company website — www.coenzyme-a.com. Read the rest of this entry »
Intra-Day Penny Stocks With News XING, EMLL, SATM, AMNG
Posted on August 23, 2010Dear Subscribers,
THE STOCK WIZARDS STOCK WATCH LISTS INCLUDES: (NASDAQ: XING) Qiao Xing Universal Resources, Inc. (OTCBB: EMLL) El Maniel International, Inc. (OTC: SATM) SatMAX Corp. (OTC: AMNG) Amergence Group, Inc.
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(NASDAQ: XING — Qiao Xing Universal Resources, Inc.
CURRENT NEWS!!
Qiao Xing Universal Resources, Inc. Reports First Quarter 2010 Financial Results
HUIZHOU, China, Aug 23, 2010 — Qiao Xing Universal Resources, Inc. (Nasdaq: XING) (“the Company” or “XING”), an emerging Chinese resources company headquartered in Huizhou, Guangdong Province, today announced its unaudited results for the three months ended March 31, 2010.
First Quarter Highlights
-- The Company reported net income of RMB73.0 million (US$10.7 million),
or RMB0.81 (US$0.12) per basic share, compared to a net loss of RMB21.5
million or RMB0.69 per basic share in the first quarter of 2009.
-- Net sales were RMB195.4 million (US$28.6 million) compared to RMB460.8
million in the first quarter of 2009.
-- Gross profit was RMB27.4 million (US$4.0 million) compared to RMB82.3
million in the first quarter of 2009. Gross margin was 14.1% compared
to 17.9% in the first quarter of 2009.
Financial Review of Operations for the Molybdenum Mine Business
-- Consolidated revenue from the mining business for the first quarter of
2010 totaled RMB58.0 million (US$8.5 million). Gross profit was RMB26.5
million (US$3.9 million), resulting in gross margin of 45.7%. Net
income totaled RMB17.9 million (US$2.6 million) in the first quarter of
2010, a decrease of 47.3% from the fourth quarter of 2009, primarily
due to seasonal factors related to the long Chinese New Year holiday
in February 2010, when most mining businesses in North China shut down
operations
-- Molybdenum concentrate production in the first quarter of 2010 was
620.3 tons, equivalent to 298.1 tons (0.66 million pounds) of
molybdenum metal.
-- Average cost of sales per ton of molybdenum metal produced in the first
quarter of 2010 was RMB105,647 (US$15,478), or RMB47.91 (US$7.02) per
pound. Average cash cost of sales per ton of molybdenum metal produced
in the first quarter of 2010 was RMB66,004 (US$9,670), or RMB29.93
(US$4.38) per pound (The Company produces molybdenum concentrate and
does not engage in smelting operations, so the cash cost does not
include the cost of smelting.)
-- Capital expenditures for the mining business in the first quarter of
2010 totaled RMB33.6 million (US$4.9 million). These capital
expenditures were all used for the construction of the mine.
Financial Conditions
As of March 31, 2010, XING and its subsidiary held $554.4 million in cash and cash equivalents and $515.9 million in working capital. Shareholders’ equity was $643.3 million as of March 31, 2010.
Upcoming Events
The Company is close to coming up with a proposal on sorting out its relationship with its subsidiary Qiao Xing Mobile Communication Co., Ltd. (NYSE: QXM) and expects to announce the proposal once it is approved by the Board of Directors.
The Company will release its earnings results for the second quarter and six months ended June 30, 2010 by September 15. The Company expects that earnings from its mining business in the second quarter will be better than the first quarter.
FINANCIAL TABLES FOLLOW
Qiao Xing Universal Resources Inc. and its Subsidiaries
Condensed Consolidated Profit and Loss Account
For three months ended March 31
2009 2010
RMB'000 RMB'000 US$'000
Net sales 460,756 195,427 28,631
Cost of goods sold (378,498) (167,978) (24,609)
Gross profit 82,258 27,449 4,021
Total operating expenses (42,037) (42,373) (6,208)
Income from operation 40,221 (14,924) (2,186)
Net non-operating income (loss) (38,280) 90,520 13,261
Income before income tax 1,941 75,596 11,075
Provision for income tax (12,665) (7,993) (1,171)
Net income from continuing
operations, net of tax (10,724) 67,603 9,904
Discontinued operations, net of tax (7,984) -- --
Net income (loss) for the
period (18,708) 67,603 9,904
Net loss (income) attributable to the
noncontrolling interest (2,800) 5,374 787
Net income (loss) after
attribution of the
noncontrolling interest (21,508) 72,977 10,691
To participatory convertible notes -- (1,605) (235)
To common stock (21,508) 71,372 10,456
Basic earnings (loss) per common
share:
Before extraordinary gain (0.69) 0.81 0.12
Extraordinary gain -- -- --
After extraordinary gain (0.69) 0.81 0.12
Weighted average number of shares
outstanding
Basic 30,948,836 87,725,193 87,725,193
Qiao Xing Universal Resources Inc. and its Subsidiaries
Condensed Consolidated Balance Sheet
December 31, March 31,
2009 2010
RMB'000 RMB'000 US$'000
ASSETS
CURRENT ASSETS
Cash and cash equivalents 3,709,503 3,784,205 554,397
Restricted cash 251,720 204,090 29,900
Bills receivable -- 24,000 3,516
Accounts receivable, net 123,082 208,801 30,590
Inventories 98,012 156,174 22,880
Prepaid expenses 184,339 165,191 24,201
Other current assets 37,025 39,061 5,723
Due from related parties 25 1,136 166
Deferred income taxes 15,942 13,089 1,918
Deferred debt issuance costs, net -- -- --
Assets held for sale 163,000 548 80
Due from discontinued operations 200,000 200,000 29,301
TOTAL CURRENT ASSETS 4,782,648 4,796,294 702,671
NON-CURRENT ASSETS
Property, machinery and
equipment, net 170,485 226,460 33,177
Proven and probable reserves 712,121 705,059 103,293
Construction-in-progress 86,591 37,231 5,454
Investment at cost 5,000 5,000 733
Goodwill 82,058 82,058 12,022
Value beyond proven and probable
reserves 67,295 67,295 9,859
Other acquired intangible assets,
net 4,433 3,325 487
Deferred income taxes -
noncurrent -- 2,272 333
TOTAL NON-CURRENT ASSETS 1,127,983 1,128,698 165,358
TOTAL ASSETS 5,910,631 5,924,993 868,029
LIABILITIES, MINORITY INTERESTS AND
SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Short term bank borrowings 884,708 924,430 135,432
Accounts payable 60,750 70,358 10,308
Other payables 57,238 8,953 1,312
Accrued liabilities 40,472 42,053 6,161
Deposits received 1,310 1,310 192
Deferred revenues 16,370 47,986 7,030
Due to related parties 5,118 -- --
Taxation payable 15,016 14,421 2,113
Convertible notes 233,716 139,604 20,452
Embedded derivatives liabilities 63,096 20,698 3,032
Assets retirement obligation 4,013 5,212 764
TOTAL CURRENT LIABILITIES 1,381,807 1,275,026 186,795
LONG-TERM LIABILITIES
Shareholders loans 6,732 6,732 986
Warrants liabilities 148,921 76,637 11,228
Deferred tax liabilities 175,281 175,435 25,702
TOTAL NON-CURRENT LIABILITIES 330,934 258,804 37,916
TOTAL LIABILITIES 1,712,741 1,533,830 224,711
SHAREHOLDERS' EQUITY
XING equity
Common stock, par value RMB0.008
(equivalent of US$0.001);
authorised 200,000,000 shares as
of December 31, 2009 and March
31, 2010; outstanding and fully
paid - 82,327,993 shares as of
December 31, 2009 and
90,294,134 shares as of March
31, 2010 602 657 96
Additional paid-in capital 2,404,998 2,528,186 370,387
Cumulative translation
adjustments (160,352) 869,713 127,416
Retained earnings 796,736 (160,236) (23,475)
TOTAL XING EQUITY 3,041,984 3,238,321 474,424
NONCONTROLLING INTEREST 1,156,086 1,152,843 168,895
TOTAL EQUITY 4,198,070 4,391,163 643,318
TOTAL LIABILITIES & SHAREHOLDERS'
EQUITY 5,910,631 5,924,993 868,029
About Qiao Xing Universal Resources, Inc.
Qiao Xing Universal Resources, Inc. is an emerging Chinese resources company headquartered in Huizhou, Guangdong Province, China. The Company was previously one of the leading players of telecommunication terminal products in China, but made the strategic decision to diversify into the resources industry in 2007. In April 2009, the Company acquired the 100% equity interest in China Luxuriance Jade Company, Ltd (“CLJC”). CLJC, through its wholly owned Chinese subsidiaries, owns the rights to receive the expected residual returns from Chifeng Haozhou Mining Co., Ltd. (“Haozhou Mining”), a large copper- molybdenum poly-metallic mining company in Inner Mongolia, China. Since then, the Company has further refined its strategy to become a pure resources company and is actively seeking additional acquisition targets in the resources industry. Read the rest of this entry »
SABMiller, Asahi eye Foster’s beer unit: sources
Posted on(Reuters) – Brewing groups SABMiller (SAB.L) and Asahi Breweries (2502.T) are looking at Foster’s Group’s (FGL.AX) beer operations, valued at more than $10 billion, but have not yet made any formal offers, sources said.
Stocks at 1-month low as euro dips on growth fears
Posted on August 22, 2010Google to hire 200 in Ireland
Posted on August 21, 2010(Reuters) – Google Inc plans to hire 200 people in a new operations center in Dublin.
Google already employs 1,500 in the Irish capital where its European headquarters are based and the new center will work on the group’s location-based products such as Google Local and Google Maps.
