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StandoutStocks.com: "Stocks that Standout" picks for today are: CADM,
HOMS, KITD, PRPM, PRVH, PTEO
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:17112008
StandoutStocks.com "Stocks that Standout" picks for today are: Cardima,
Inc. (OTCBB: CADM), Homeland Security Capital Corporation (OTCBB:
HOMS), KIT digital, Inc. (OTCBB: KITD), Propalms Inc (OTCBB: PRPM),
Providential Holdings, Inc. (OTCBB: PRVH), Proteo Inc. (OTCBB:
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Nov 17, 2008 -- Cardima, Inc. (OTCBB: CADM), a medical device company
focused on the treatment of Atrial Fibrillation ("AF") and manufacturer
of the Cardima Surgical Ablation System, the EP Ablation System, and
the PATHFINDER(R) family of diagnostic microcatheters, announces today
that on November 11, 2008, the Company executed a Loan Term Sheet and
Loan Commitment letter (the "Financing Documents") with an accredited
investor and shareholder of the Company pursuant to which the Company
will issue a secured promissory note (the "Note") in the principal
amount of $6 million. The Note will bear interest at a rate of 10% per
year and matures on November 10, 2009. The Note will have and be a
general charge on all of the assets of the Company. The Company intends
to use the proceeds for general corporate purposes, including working
capital and equipment purchases.
Tony Shum, Chairman of Cardima, said, "The past year has brought
tremendous positive changes to the Company and this transaction marks
another significant step towards building the New Cardima. We thank our
shareholders for their continued support, which allows us to continue
the systematic commercialization of our great range of products. This
loan facility provides important resources as we begin to rapidly
expand the number and scope of our distributor relationships around the
world and plan for exciting and dynamic growth in 2009."
About Cardima
Cardima, Inc. has developed the PATHFINDER(R), TRACER(TM) and
REVELATION(R) Series of diagnostic catheters, the VUEPORT(R) and
NAVIPORT(R) Series of guiding catheters, the INTELLITEMP(R) Energy
Management Device, and the Surgical Ablation System (SAS). All of these
devices are CE marked and received U.S. FDA 510(k) clearance. The
REVELATION(R) Series of ablation catheters with the INTELLITEMP(R) EP
Energy Management Device was developed and marketed for the treatment
of atrial fibrillation (AF) after receiving CE mark approval in Europe;
it is not currently available in the U.S.
PATHFINDER(R), TRACER(TM), VUEPORT(R), NAVIPORT(R), REVELATION(R) and
INTELLITEMP(R) are registered trademarks of Cardima, Inc.
Nov 17, 2008 --Investor Conference Call Scheduled for Tuesday, November
18, 2008, at 9:00 am EST. Homeland Security Capital Corporation
("HSCC") (OTCBB: HOMS), an international provider of specialized
technology-based radiological, nuclear, environmental, disaster relief,
and security solutions to government and commercial customers, today
filed its quarterly report on Form 10-Q for the first quarter ended
September 30, 2008.
Revenue for the first quarter was $17.7 million, as compared with $2.6
million for the same period in 2007. EBITDAS from continuing operations
(earnings before interest, taxes, depreciation, amortization, and stock
based compensation expense) was $150,000, as compared to a loss of
$330,000 for the same quarter of 2007. Overall HSCC had a $2.3 million
loss, or $0.05 per share, attributable to common shareholders for the
quarter as compared to a $3.8 million gain, or $0.09 share, for the
same period in 2007. In the quarter ended September 30, 2008, HSCC
recorded one-time charges of $450,000 with respect to a beneficial
conversion feature on its preferred stock and miscellaneous acquisition
costs. In the quarter ended September 30, 2007, HSCC recorded a gain of
$3.6 million with respect to the sale of a subsidiary.
The Company consolidates the results of subsidiaries Safety & Ecology
Holdings Corporation, Nexus Technologies Group, Inc., Polimatrix, Inc.,
and Homeland Security Capital Corporation, the holding company. At
September 30, 2008, and 2007 there were 48.8 million and 41.8 million
shares of common stock outstanding, respectively.
"We booked in excess of $53 million of new business contracts in the
quarter and I am pleased with our overall revenue results and the
progress made in securing new business," said HSCC Chairman and CEO C.
Thomas McMillen. "In addition to further executing on the growth
strategy we set forth, we look to continue placing a strong focus on
improving our margins and streamlining our administrative costs as we
progress into the year."
HSCC President and Safety & Ecology Corporation CEO Christopher
Leichtweis commented, "Much of the new business booked this past
quarter is at higher margins, even in light of the softening economy.
We will need to ensure we effectively manage these projects and
maximize those higher margins."
Financial Measures
In addition to the results presented in accordance with generally
accepted accounting principles in this press release, the Company
reported a positive EBITDAS (EBITDA before stock based compensation
expense of $150,000 for the period). EBITDAS, a non-GAAP measure, is
determined by taking the net loss and adding back amortization of
intangible assets, debt offering costs and debt discounts, depreciation
and amortization of property and equipment, stock based compensation
expense and interest expense (income), net. The Company believes that
this non-GAAP measure, viewed in addition to and not in lieu of the
Company's reported GAAP results, provides useful information to
shareholders and investors because this metric provides a more focused
measure of operating results. This metric is an integral part of the
Company's internal reporting to measure operations of the Company. The
non-GAAP measure presented herein may not be comparable to similarly
titled measures presented by other companies.
Investor Quarterly Conference Call:
The Company will host an investor conference call on Tuesday, November
18, 2008, at 9:00 am EST. We ask that all participants pre-register by
sending an e-mail to: HOMS@investorrelationsgroup.com or calling: The
Investor Relations Group, (212) 825-3210.
Live Participant Dial In (Toll Free): 877-407-0782 Live Participant
Dial In (International): 201-689-8567 Replay Number (Toll Free):
1-877-660-6853 Replay Number (International): 1-201-612-7415 Replay
Passcodes (both required for playback): Account #: 286 Conference ID #:
303901
About Homeland Security Capital Corporation
HSCC is an international provider of specialized technology-based
radiological, nuclear, environmental, disaster relief, and security
solutions to government and commercial customers through its portfolio
companies. Former Maryland Congressman C. Thomas McMillen, who served
three consecutive terms in the U.S. House of Representatives from the
4th Congressional District of Maryland, heads the company.
Nov 17, 2008 -- KIT digital, Inc. (OTCBB: KITD), a global provider of
IP-based video enablement technologies and video-centric interactive
marketing solutions, reported financial results for the third quarter
ended September 30, 2008.
Q3 2008 Financial Results
Financial results in this release are quoted in U.S. dollars, although
a material portion of the company's revenue is earned in other
currencies.
For the third quarter of 2008, revenue totaled $5.4 million, as
compared to $5.5 million in the previous quarter and $3.4 million in
the same quarter a year ago. The company's revenues include software
license and maintenance fees, streaming and data fees, technical and
creative service charges, software set-up fees, and advertising-related
income.
During the third quarter, the U.S. dollar appreciated versus the other
currencies in which the company generates revenues. On a like currency
basis, KIT digital increased revenues during the quarter. The company
employs a "natural hedging" strategy in which management endeavors to
match revenue generated in a given currency against the associated
client delivery costs denominated in the same currency. This strategy
results in approximately neutral cash-flow impact from foreign exchange
movements, despite changes in reported gross revenues.
The net loss for the quarter was $2.6 million or ($0.02) per basic and
diluted share, compared to a loss of $3.3 million or ($0.04) per basic
and diluted share in the previous quarter and a loss of $8.2 million or
($0.21) per basic and diluted share in the third quarter of 2007.
The net loss for the quarter reflects several non-cash items, including
$188,000 in stock-based compensation, compared to $73,000 in the
previous quarter and $1.2 million in the same year ago quarter.
Additionally, the net loss included restructuring charges of $162,000
relating to employee termination and facility closing costs, as
compared to $146,000 in the previous quarter and none in the third
quarter of 2007.
For the third quarter, operating EBITDA, a non-GAAP term, was a loss of
$1.57 million, as compared to a loss of $2.24 million in the previous
quarter and a loss of $6.64 million in third quarter of 2007. Operating
EBITDA is defined by the company as the loss before non-cash stock
based compensation, restructuring and non-recurring costs, impairment
of property and equipment and depreciation and amortization. Management
reports the company is turning operating EBITDA positive during the
course of the current fourth quarter, and is optimistic that the
company will turn free cash-flow positive by the end of this year or in
beginning of the first quarter of 2009.
The weighted average common shares outstanding for the quarter totaled
114,557,722, as compared to 82,800,972 in the previous quarter and
38,907,293 in the third quarter of 2007. The common shares outstanding
at November 14, 2008 totaled 114,609,788.
At the end of the third quarter of 2008, the company had a cash
position of $6.1 million. Management believes the company possesses
more than sufficient cash to finance its organic growth plan through to
profitability, as well as to make selective acquisitions.
On October 5, 2008, subsequent to the end of the third quarter of 2008,
the company acquired 100% of the capital stock of IP-based video
enablement company Visual Connection, a.s., the purchase of which
included a $2.5 million upfront cash payment. On November 12, 2008, the
company received $1.4 million in straight (non-convertible) debt
financing from Genesis Merchant Partners, L.P., secured by accounts
receivable, inventory and other assets. The proceeds of this debt
facility may be used for general corporate purposes. As of November 14,
2008, KIT digital had a cash position of $5.2 million.
Even after accounting for an additional 20%+ strengthening of the U.S.
dollar since September 30, 2008 versus the Czech koruna, the Australian
dollar and other currencies in which KIT digital does business,
consolidated fourth quarter 2008 revenues are estimated to be at least
$8.5 million. In the absence of the strong U.S. dollar, management
estimates that fourth quarter 2008 revenues would have been more than
$10 million.
Management Commentary
"The third quarter represented substantial progress across the board,"
said Kaleil Isaza Tuzman, chairman and chief executive officer of KIT
digital. "Despite the generally slow Summer period, a faltering
economy, a strong U.S. dollar and the ongoing rationalization of
acquired assets, we grew our underlying business on a local currency
basis versus a banner second quarter, and ended the third quarter with
a September monthly operating EBITDA loss of approximately $195,000 --
versus well over $2 million of monthly burn at the beginning of the
year. We are crossing over to positive monthly operating EBITDA during
the current fourth quarter, just as we committed to our shareholders at
the beginning of this year."
Gavin Campion, president of KIT digital, commented: "At KIT digital, we
take a financially disciplined and bottom-line approach. We generally
leave the small and medium-size enterprise (SME) market to our
competitors, while we go after higher-margin, enterprise clients,
frequently in emerging markets. During the third quarter, we won a
number of key new accounts and made great progress on the integration
of our product lines and acquired businesses -- activities which take
time to develop and will bear financial fruit in future quarters."
"We started 2008 at an annualized revenue run-rate of approximately $12
million," continued Campion. "Even after the appreciation of the dollar
in recent months, we are currently operating at an annualized revenue
level of approximately $35 million. Looking forward to 2009, we will
continue to leverage our first-mover advantage as the only truly
device-agnostic IP video solutions provider, able to deliver and manage
video on the browser, the mobile device and the IPTV-enabled set-top
box or game-box."
Q3 2008 Operational Highlights
-- Signed over 20 new enterprise clients across major geographies --
Asia/Pacific, Europe, the Middle East & Africa (EMEA), and the Americas;
-- Acquired Morpheum, one of Asia's leading providers of web-based
content management systems -- which is already in the process of being
integrated with the KIT digital's "VX" video management platform;
-- Created a critically acclaimed, custom-built Web environment for TV
innovator Seth MacFarlane and his new collection of web shorts, titled
'Seth MacFarlane's Cavalcade of Cartoon Comedy';
-- Launched a North American IPTV set-top box deployment for TV2Moro, a
new company created by leading players in Arab media production and
distribution;
-- RCN, a leading broadcaster in Latin America, choose KIT digital to
provide a broad range of streaming media initiatives;
-- An estimated 91% of KIT digital revenue in the third quarter of 2008
was generated in the Asia/Pacific and EMEA geographies, and
approximately 9% from the Americas.
Conference Call
KIT digital will hold a conference call to discuss Q3 2008 results at
10:00 a.m. Eastern time on Tuesday, November 18, 2008. To participate
in the call, please dial +1 (800) 288-8968 (North America) or +1 (612)
332 0725 (outside of North America). Note that the call-in numbers have
changed since the company's last press release; the previously
disseminated call-in numbers will be answered and forwarded to the
numbers above.
Please dial into the call five minutes prior to the scheduled start
time. If you have any difficulty connecting to the conference call,
please contact the Liolios Group at +1 (949) 574-3860.
For interested individuals unable to join the live conference call, a
replay of the call will be available an hour after the conclusion of
the live call through December 2, 2008 by dialing into +1 (800)
475-6701 (North America) or +1 (320) 365-3844 (outside of North
America). The access code for this replay is 970370. In addition, an
online archive of the call will be available for 30 days afterwards
through the Investor Relations section of the Company's website at
www.kitd.com.
About KIT digital
KIT digital, Inc. is a leading, global provider of proprietary IP-based
video enablement technologies and video-centric interactive marketing
solutions. Through its end-to-end platform, KIT digital works closely
with consumer brands, content providers and telcos to maximize the
value of video content via the Internet, mobile networks and IPTV
set-top boxes. The KIT VX platform allows clients to publish, manage
and distribute digital video content, build online/mobile communities
and integrate advertising. KIT offers businesses a full range of
interactive marketing solutions and KIT clients can access
approximately 100 KIT-syndicated channels and 40,000 KIT-syndicated
videos. KIT digital clients include ABC Disney, Associated Press, China
Mobile, General Motors, IMG, Kmart, NASDAQ, News Corp, RCS, Telefonica
and Verizon. KIT digital has principal offices in Dubai, Melbourne
(Australia), Prague, Stockholm, New York and London.
Nov 17, 2008 -- Propalms Inc (OTCBB: PRPM), a provider of application
delivery solutions for Terminal Services and Virtual Desktop
Infrastructures, announced on 17 November that is has signed an
agreement with Getech, a UK-based distributor, to expand the Company's
customer-base throughout Europe, broadening its global base in an
effort to acquire a share of the thin-client server based computing
market.
The company said that Getech has been a distributor of desktop services
since 1990, and has become one of the largest thin client distributors
in the UK and Europe. Getech also operates in various markets,
including education, telecomms and manufacturing and has adopted sales,
support and logistics teams in several locations throughout Europe.
Getech now has a division specifically committed to the thin client and
server computing environment, offering both hardware and software
solutions.
Nov 17, 2008 -- Providential Holdings, Inc. (OTCBB: PRVH) (FRANKFURT:
PR7) (WKN 935160), a company engaged in mergers and acquisitions, real
estate development, mining and investing in special situations, today
announced financial results for the first quarter of fiscal year 2009,
ended September 30, 2008.
Total revenues were $1,988,220 and $28,500 for the three months ended
September 30, 2008, and 2007, respectively. Total operating expenses
were $435,927 for the three months ended September 30, 2008 and
$336,814 for the same period in 2007.
Total other income was $112,930 for the three months ended September
30, 2008 compared to total other expense of $29,095 for the same period
in 2007.
Net income for the three months ended September 30, 2008 was $1,665,223
as compared to a net loss of $337,409 for the same period in 2007,
which is equivalent to $0.01 and ($0.00) per share, respectively.
Providential CEO Henry Fahman said, "In spite of the global financial
crises that have adversely impacted some of our plans, our M&A and
consulting services have generated increased revenues and profits for
the company in the latest quarter. We expect to continue earning more
revenues through these services and also generate significant value for
our shareholders from our real estate development program, mining, and
other initiatives in the balance of fiscal year 2009 and beyond."
About Providential Holdings
Providential Holdings and its subsidiaries engage in a number of
business activities, the most important of which are M&A and consulting
services, real estate development, mining, and investing in special
situations. As part of its focus on Vietnam, the Company has
successfully assisted several Vietnamese companies to go public in the
U.S. and currently develops "Pointe 91", a luxury resort and upscale
residential community in Chu Lai, central Vietnam.
Nov 17, 2008 -- Proteo Inc. (OTCBB: PTEO/WKN: 925981) and its
wholly-owned subsidiary Proteo Biotech AG announced today the beginning
of patient recruitment for a Phase II clinical trial. In this
randomized, placebo-controlled Phase II trial the effect of Elafin on
inflammatory parameters will be investigated in patients undergoing
esophagectomy for esophagus carcinoma. The trial will be performed
under the direction of Prof. Fred FAnndrich, Department of General and
Thoracic Surgery, University of Kiel: "The removal of the esophagus for
esophageal cancer is a very invasive surgical procedure that frequently
requires long stays in intensive care units. No drugs are currently
available which substantially alleviate the inflammatory reaction of
the body to this surgical treatment. I am therefore particularly
pleased that we have the opportunity to conduct the first clinical
trial worldwide on the therapeutic efficacy of the drug candidate
Elafin."
"As the second largest university hospital in Germany, the University
Hospital of Schleswig-Holstein offers an ideal infrastructure for
performing a trial of this type. We are confident that the results of
the trial will provide confirmation of the mode of action (proof of
concept) and so promote our multifaceted development program for
Elafin," announced Birge Bargmann, CEO of Proteo.
Prof. Oliver Wiedow, who discovered Elafin and founded Proteo, draws a
positive balance: "With the start of this trial we are also setting a
new milestone for biotechnology in Kiel. The close cooperation of many
committed colleagues at the University Hospital, the state's economic
development fund and Proteo Biotech AG, has made it possible to promote
in Schleswig-Holstein the development of a pharmaceutical, that was
discovered in the Department of Dermatology at the University of Kiel,
and to make this drug substance available for the first time to
patients within the framework of a clinical trial."
About Elafin
The drug candidate Elafin is produced naturally in humans and inhibits
enzymes responsible for the formation of circulating factors
(cytokines) that promote inflammatory reactions. The release of these
cytokines is increased after major surgery and is responsible for an
inflammatory reaction that can affect all vital organs. In the planned
trial it is expected that Elafin will impair the formation of these
cytokines and thus have a positive effect on the inflammatory reaction.
The excellent tolerability of Elafin in human subjects was demonstrated
in a Phase I clinical single dose escalating study. On recommendation
of the European Medicines Agency (EMEA), Proteo Biotech AG received
orphan drug status from the EU commission for its candidate drug Elafin
for the treatment of pulmonary arterial hypertension (PAH) and chronic
thromboembolic pulmonary hypertension.
About Proteo
The company researches, develops and markets compounds for biological
and medical research as well as for use as pharmaceuticals. PROTEO
holds the production and utilization rights for recombinant human
Elafin. PROTEO intends to out-license selected indications and to
establish international strategic alliances in order to open up new
fields of application and for marketing.
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