THE STOCK WIZARDS FOCUS LISTS INCLUDES: (OTC: IDCN) Indocan Resources, Inc., (OTCBB:SNWT) San West, Inc., (OTCBB: BGNN) B Green Innovations, Inc., (OTC:WAMUQ) Washington Mutual, Inc., (OTC:OOAG) OMDA Oil and Gas, Inc. (OTC: GDHI) Golden Dragon Holdings, Inc.
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(OTC: IDCN- Indocan Resources, Inc.)
CURRENT NEWS!!
Indocan Resources & Mid-Atlantic Capital Commit $12M to Bele Mines South Africa
PALMA DE MALLORCA, Spain, May 17, 2010 The Boards of Directors of Indocan Resources, Inc. (OTC: IDCN) and Mid-Atlantic Capital Ltd. announce that they have committed to a $12 million minimum initial capital infusion to eight mine sites in South Africa.
Bele Holdings has been granted mining rights (new mineral rights) for an area covering some 144 square kilometres in Barberton – Mpumalanga province. The mineral rights comprise 414 base metal claims situated on the farms Hooggenoeg 150 IT, Doornhoek 157 IT, Kortbegrip 168 IT, Laggenoeg 158 IT, Rozentuin 159 IT including the Von Brandis, Heather Bell, Pentland and Thistle section, Soodorst 2, IU Overberg 1, IU and Nooitgezien 3, IU in the mining district of Barberton.
These claims cover the area of the Old Thistle, Heather Bell, Golden Snake, Von Brandis, Queen of Sheba and Pentland mines. The property lies at a mean height of 765 metres above sea level, close to the Komati River.
Bele Mines has substantial infrastructure including a number of shafts and 300 m of underground development and is the most advanced of the projects in the area. The main shaft was sunk to a depth of 50 meters and reef development has taken place on a mineralized shear zone.
Mid-Atlantic Capital advises public companies on funding activities and helps companies become public and get early stage funding. Indocan Resources is working closely with all parties related to this gold mining prospect and will have a carried interest and a slice of the NSR when completed.
Mapping and sampling carried out by previous investigators has established a total resource of 8 million tons of ore at 7.38 g/t down to a depth of 45 meters below the extensive reef development on the 50 meter level, i.e. 95 meters below the shaft collar elevation (this represents circa 1% of the total mining area).
This is equivalent to some 1.4 MILLION ounces of gold from the developed area.
Production of 360,000 tons per annum at 7.38 g/t producing after 29 months revenue amounting to an average of US$60 million per annum. The life of mine is estimated to be over 20 years.
At a discount rate of 15% per annum over a ten year period the estimated Net Present Value amounts to US$233M for the existing developed mining area (this represents circa 1% of the total mining area).
More information can be learned by visiting our website: www.indocan.com.
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(OTCBB: SNWT — San West, Inc.)
CURRENT NEWS!!
San West, Inc. Reports Record Revenue for First Quarter 2010
SANTEE, CA, May 17, 2010 San West, Inc. (OTCBB: SNWT), an emerging leader in the off-road vehicle (ORV) industry and operator of the industry leading On Road Vehicle portal, www.CountyImports.com, today reported financial results for its first quarter of 2010, the period ended March 31, 2010 and provided guidance for expected second quarter 2010 results.
Operational and Corporate Highlights
-- www.CountyImports.com introduced a new motorized scooter, a 300cc
Chariot, with best-in-class power and unprecedented range targeted to
the mass market. The 300cc Chariot attracts a full spectrum of riders
and generates enough power to literally drive across the United States
at speeds of 100 miles per hour with 80 mile per gallon efficiency. To
complement the power and environmentally favorable performance, all
49cc-300cc Trikes sold by CountyImports.com -- including the 300cc
Chariot -- are equipped with a fully automatic CVT power train and
reverse-drive capabilities.
-- The Company announced significant improvements to a number of key
business metrics pertaining to efficiency of the online advertising
strategy employed by partner website, www.CountyImports.com. The
keyword marketing overhaul campaign, launched in early February and
announced March 4, 2010, has rapidly transformed www.CountyImports.com
into the leading online on and off-road vehicle (ORV) dealer with
regard to "natural" or "organic" web traffic, driving a record flow of
free, highly-targeted web traffic to the website, and in turn
facilitating a 37% decrease in overall online advertising costs
compared to both 2008 and 2009, the two most lucrative years in the
website's history.
-- San West and Buggy World awarded a custom Buggy World "Truggy" to
Solana Beach resident Kim Thompson at the KSON 97.3 and 92.1 FM
CountryFest on May 1, 2010 at the Lakeside Rodeo Grounds in Lakeside,
Calif.
-- The Company announced that management is now aggressively searching for
a new Orange County, CA retail location to focus primarily on further
accelerating sales of San West's burgeoning motorized scooter
offerings, as well as its traditional selection of high performance
buggies. San West, Inc. management is now in the final stages of
negotiations with a number of prime locations and intends to announce
an agreement within the next 30 to 90 days.
First Quarter Financial Results
The Company reported revenues for the first quarter of $493,615, an increase of 175.1% compared to revenue of $179,423 for the first quarter of 2009. This represents the highest sales for any first quarter in San West’s history. Gross profit for the quarter was $135,492, or 27.4% gross profit margin, compared sequentially with gross profit margin of $111,641, or 22.3% for the fourth quarter of 2009 and compared to gross profit of $65,544 or 36.5% gross profit margin for the first quarter of 2009. Total operating expenses were $924,422, an increase compared to $215,547 for the three months ended March 31, 2009. The increase in expense is mainly due to the recognition of $642,175 in non-cash stock compensation primarily related to our new director, Jesse Gonzales, receiving five million shares of restricted common stock valued at $467,500 and other stock compensation expenses. Excluding stock compensation, SG&A was $282,267, or 31.0% higher than the first quarter of 2009. Net loss for the quarter was $(952,404), or ($0.01) per share, compared to a net loss of $160,154, or ($0.00) per share, for the first quarter last year.
“This was a strong start to what we believe will be a record 2010, including the highest sales volume in any first quarter in our company’s history,” commented Frank Drechsler, President and CEO of San West, Inc. “We exceeded our guidance for the first quarter of the year, a quarter that is typically seasonally lower than other periods, and our efforts to attract natural traffic to our online properties is continuing to result in higher conversion rates, more revenue per sales, and repeat customers. We continue to believe that as we execute our strategic plan, the advertising adjustments, combined with our search engine optimization and marketing strategies, will result in significant growth in our online revenues. In addition, our efforts to bolster our retail, brick-and-mortar presence in Southern California, should benefit our financial results as well.”
Outlook
For the second quarter ended June 30, 2010, management expects revenue of at least $1 million, which would be the highest revenues in San West history.
Mr. Drechsler concluded, “San West and CountyImports.com management continue to be excited about the future. As we move into the seasonally stronger part of our fiscal year, coinciding with the start of the ORV season, we are well positioned as a recognized leader in the ORV industry. Our efforts to bolster our online properties and reduce our customer acquisition costs position us for success in the future, and we continue to believe 2010 will be a record year for San West.”
About San West, Inc.
San West is an emerging leader in the on and off-road vehicle (ORV) industry and operator of the industry leading ORV portal, www.CountyImports.com. The Company’s web properties have emerged as the established home for all facets of the ORV industry, including off-road buggies, scooters, ATVs, parts and accessories. San West’s retail store locations in Southern California specialize in the design, manufacture, sales and repairs off-road buggies. Additionally, the retail and online stores provide aftermarket performance products and accessories for off-road buggies and other ORVs. Buggy repair services are sold and fulfilled at the Santee, California retail location. For further information about San West, Inc. visit www.CountyImports.com, www.CountyImportParts.com, and www.SanWestInc.com.
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(OTCBB: BGNN — B Green Innovations, Inc.)
CURRENT NEWS!!
B Green Innovations Reports Record Net Income of $1,377,137 for First Quarter 2010
MATAWAN, NJ, May 17, 2010 B Green Innovations, Inc. (OTCBB: BGNN) reported on a Form 10-Q filing with the Securities and Exchange Commission, net income of $1,377,137 for the three months ended March 31, 2010. In the same time period last year, the Company reported a loss of $825,857, a net positive change of $2,202,994. Other Income was $1,499,926 for the three months ended March 31, 2010 as compared to an expense of $690,543 for the three months ended March 31, 2009.
Total revenues increased 182% for the three months ended March 31, 2010. Gross profit increased 292% for the three months ended March 31, 2010. Total operating expenses decreased 1% for the three months ended March 31, 2010.
Jerry Mahoney, Founder of B Green, commented, “We are proud to report these results for the three months ended March 31, 2010. The company is doing an excellent job of delivering great results. We look forward to continuing to deliver superior results throughout the rest of the year. Shareholders should read the complete details for the quarter ended March 31, 2010 in the Company’s recently filed Form 10-Q with the SEC.”
http://www.sec.gov/cgi-bin/browse-edgar?company=b+green&match=&CIK=&filenum=&State=&Country=&SIC=&owner=exclude&Find=Find+Companies&action=getcompany
About B Green Innovations B Green Innovations, Inc. (“B Green”), “Go Green” mission from its inception, is to create a “Green” company for the development of solutions to eliminate waste from the world’s environment. B Green offers consumers a realistic and necessary solution to the problem of waste around the world. We believe that to truly have an impact on the planet, one must be committed to the environment and seek out environmentally friendly products.
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(OTC: WAMUQ — Washington Mutual, Inc.)
CURRENT NEWS!!
Washington Mutual, Inc. Files Amended Plan of Reorganization and Disclosure Statement
SEATTLE, May 17, 2010 Washington Mutual, Inc. (Pink Sheets: WAMUQ) (“WMI” or the “Company”) today announced that it has filed with the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) an Amended Plan of Reorganization (the “Plan”) and Disclosure Statement (the “Disclosure Statement”).
The Plan contemplates the implementation of a global settlement agreement (the “Settlement”) among WMI, the Federal Deposit Insurance Corporation (the “FDIC”) and JPMorgan Chase Bank, N.A. (NYSE: JPM) (“JPMC”). The terms are reflected in the Amended Plan and Disclosure Statement filed with the Bankruptcy Court.
As previously announced, the Plan, under which the Settlement will be implemented, contemplates, among other things:
WMI will establish a liquidating trust to make distributions to creditors on account of their allowed claims. In accordance with the terms of the Plan, the trust will distribute funds in excess of approximately $7 billion, including approximately $4 billion of previously disputed funds on deposit with JPMC.
It is anticipated that the reorganized WMI will undertake a rights offering pursuant to which certain creditors will receive a right to purchase newly issued shares of reorganized WMI common stock. The reorganized WMI will retain equity interests in WMI Investment Corp. and WM Mortgage Reinsurance Company.
JPMC will assume certain liabilities related to benefit plans (including the pension plan sponsored by WMI).
The various litigations involving WMI, JPMC and FDIC will be stayed or dismissed. In addition, JPMC and the FDIC (in its capacity as receiver of Washington Mutual Bank and in its corporate capacity) will withdraw claims against WMI’s bankruptcy estate and the parties will exchange mutual releases.
Preferred and common equity securities previously issued by WMI will be cancelled.
The Bankruptcy Court will hold a hearing on May 19, 2010 to consider approval of the Disclosure Statement. Following approval of the Disclosure Statement, WMI will ask the Bankruptcy Court to confirm the Plan.
The Disclosure Statement filed today contains historical information regarding WMI and certain of its affiliates, a description of proposed distributions to creditors, an analysis of the Plan’s feasibility, as well as many of the technical matters required for the solicitation process, such as descriptions of who will be eligible to vote on the Plan and the voting process itself.
WMI’s Plan and Disclosure Statement are available at www.kccllc.net/wamu. The Plan is subject to confirmation by the Court. This press release is not intended as a solicitation for a vote on the Plan.
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(OTC: OOAG — OMDA Oil and Gas, Inc.)
CURRENT NEWS !!
OMDA Oil and Gas, Inc. to Reduce the Authorized Shares by 97.5%
HOUSTON, TX, May 17, 2010 OMDA Oil and Gas, Inc. (PINKSHEETS: OOAG) is pleased to announce that it is in the process of reducing its authorized shares by 97.5%, from the current total of 10 billion down to 250 million total authorized shares.
OMDA Oil and Gas, Inc’s. chairman, Adam Barnett, and its board of directors have agreed to complete this very large and significant reduction in order to eliminate the possibility of any share dilution to the company. This authorized shares total reduction is expected to be completed shortly and will be announced when complete.
OMDA’s current total outstanding share count is 242,631,100. The company has not issued any new shares in over 16 months, nor has there been any issuance of stock of any kind during that time frame. There is also current board of director discussion pertaining to the possibility of retiring current outstanding shares back into treasury in the very near future. Updates on this stock value improvement goal and other very important legal updates are imminent.
“The reason we have decided to take this action at this time was to solidify shareholder confidence,” stated OMDA Oil and Gas chairman, Adam Barnett. “With such a small difference between the current 242 million outstanding shares and the soon to be new total authorized of 250 million shares, any possibility of future dilution is eliminated. Obviously OMDA has incurred operating expenses over the last 16 months, including very costly litigation expenditures. We successfully got through this period without issuing any stock whatsoever, and I feel we can continue on this same course going forward as we are finally in a position to grow from within. As we reduce OMDA’s outstanding shares over time we will also continue to reduce the authorized shares accordingly. Our shareholders have stuck by us for many years and we hope that by initiating this significant modification to the share structure of the stock we will give them confidence that their investment will not be adversely affected by dilution. Shareholder value must be realized and this step is a necessary one.” Mr. Barnett concluded, “We will continue to release news and updates to keep our shareholders informed as to the completion of this share structure change, as well as other key pending developments mentioned above. There are also imminent key updates coming that have not yet been mentioned.”
About OMDA Oil and Gas, Inc.
OMDA Oil and Gas, Inc. and its wholly owned subsidiaries, OMDA Oil & Gas Management, Inc. and Texas OMDA Drilling & Operating, Inc. and OMDA Oil & Gas, Inc. (Texas), are in the business of oil and gas production and lease acquisition.
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(OTC: GDHI — Golden Dragon Holdings, Inc.)
CURRENT NEWS !!
China Food Services, Corp. Notice of Retirement of 100,000,000 Shares of Common Stock
BEIJING and MIAMI, May 17, 2010 China Food Services, Corp formally known as Golden Dragon Holdings, Inc. (Other OTC: GDHI) http://www.gdfbhk.com an international food and beverage distributor specializing in the distribution of US food & beverage brands to the Chinese market, today announced that pursuant to its yearend 2009 Board of Directors meeting, held on January 9th, 2010 whereas the Board voted by unanimous decision to retire 1,000,000,000 shares of common stock in a 6 month period, today it has issued a board resolution to its Transfer Agent, Guardian Registrar & Transfer, Inc. To immediately retire 100,000,000 Share of Common Stock, this will total to date 800,000,000 Share of Common Stock that has been retired.
About China Food Services, Corp.
China Food Services, Corp. owns and operates Golden Dragon Food & Beverage Import & Export Company of Hong Kong, Ltd. (GDHK) in central Hong Kong and Beijing Flying Golden Dragon International Trading Co., Ltd in China (BFGD). China Food Services, Corp. has agreements with U.S. food manufacturers. GDHI acts as a buying agent for GDHK, negotiating vendor contracts and services with U.S. food and beverage industry partners. The Hong Kong Company plays a strategic role in the importation of products into the Chinese market by leveraging the Closer Economic Partnership Arrangement (CEPA) with China. Through this arrangement, Beijing Flying Golden Dragon International Trading Co., Ltd distributes some of the most popular U.S. food and beverage brand products directly into the hypermarkets, supermarkets and convenience stores in China. The Company is responsible for order fulfillment for its clients in China, as well as providing advertising and promotion (A&P) services for its U.S. food and beverage products.
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Liberty Star Uranium & Metals Corp., an exploration stage company, engages in the acquisition and exploration of mineral properties in Arizona and Alaska. The company primarily explores for uranium, copper, gold, molybdenum, silver, and zinc properties. It holds interests in North Pipes Super Project comprising 1,775 Federal lode mining claims in northern Arizona on the Arizona Strip; Big Chunk Super Project, which consists of 707 mineral claims in the Iliamna region of southwestern Alaska; and Bonanza Hills Project with 56 mineral claims in the Iliamna region of southwestern Alaska. 
