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GALLOWAY ENERGY INCORPORATED (OTC: GWGI) up 125.00% on Monday
Galloway Energy has set forth to establish itself as a first in locator of overlooked mineral properties and new areas of interest due to the global increase in commodity demand and prices. The company is in a position to leverage current working relationships with land acquisition and engineer professionals in highly prolific regions. Currently the company is interested in mineral claim acquisitions and joint venture opportunities in British Columbia, Canada. As Galloway grows, our scope will include property interests all over the world. The initial exploration property is the Fraser Claim and is situated in the Caribou Mining Division in the province of British Columbia. The company feels that this initial claim gives it an early foothold in this area and has potential for further acquisitions and exploration. The property on offer includes 482.37 hectares that artisenal prospectors have discovered indications of mineralization. Based on initial showings from the preliminary reconnaissance the company has decided it will proceed with an acquisition program with an exploration plan to be implemented as soon as feasible. Based on initial positive results Galloway will expand the exploration and prove out any mineral bodies that may exist. The reconnaissance initiative mentioned earlier yielded sufficient results for alluvial gold that justifies the company going forward to explore for sources. Galloway Energy will execute a strategy for acquisition and exploration that is conducive to sustainable share value.
GWGI News:
May 12 - Galloway Energy Inc. (GWGI) Finalizes Gold Exploration Property Acquisition
Galloway Energy Inc. announced that it has finalized the acquisition of the Fraser Claim in British Columbia. The company feels that this initial exploration property is in keeping with the company's objective of defining and acquiring interests in underdeveloped and overlooked properties that are now deemed economical due to significant global increases in both demand and prices of commodities.
The Fraser bend claims are situated in the legendary Cariboo mining district in central British Columbia. The claims are central to the famous Gold Rush Trail and on the high gold bearing structure referred to as the Fraser Bend Formation stretching all the way to the Yukon. The Cariboo is one of the most strategic, high potential placer gold bearing areas in BC.
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MICRON ENVIRO SYSTEMS INCORPORATED (OTCBB: MENV) up 43.00% on Monday
Micron Enviro Systems Incorporated is an emerging oil and gas company that now has exposure to multiple leases consisting of interests in 50.5 gross sections (31,945 acres) in the Oil Sands of Alberta, Canada, which is one of the largest oil producing regions in the world. Micron holds 100% interest in 4 sections, 50% interest in 16 other sections, 5% interest in 26 sections, and has a 4.17 % net interest in 4.5 additional Oil Sands sections. Management's goal is to build the asset base of the Company through strategic alliances and independent acquisitions that will build long-term shareholder value. Management continues to look for additional projects that would contribute to building Micron's market capitalization, including additional Oil Sands projects. For detailed maps of the locations of Micron's prospects, visit www.micronenviro.com.
MENV News:
May 12 - Micron Enviro Systems Inc. Submits Additional Coal Permits in East Central Saskatchewan Near Goldsource's New Discovery
Micron Enviro Systems, Inc. (OTCBB: MENV) (Germany: NDDA) ("Micron" or the "Company") announced that it has submitted additional coal permits encompassing approximately two additional townships (approximately 40,000 acres) in east central Saskatchewan, Canada. This would give Micron a potential claim area of approximately 63,000 acres of which the Company would have a 100% ownership of, should it be successful in the bid process. This acreage is in close proximity to a recent new coal discovery made by Goldsource Mines Inc. There are no guarantees that any of these proposed permits will be awarded to Micron.
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COMTEX NEWS NETWORK INCORPORATED (OTCBB: CMTX) up 36.51% on Monday
Comtex News Network, Inc. operates as a wholesaler of electronic real-time news and content for financial and business information distributors in the United States. It receives, enhances, combines, filters, and distributes news and content received from national and international news bureaus, agencies, and publications. The company's product lines include CustomWires, subject-specific newswires presenting various subject combinations, including energy, finance, international, and public company information; Comtex TopNews, which comprises editorially selected news stories of the day, including news related to financial markets, vertical markets, general market, and world news; and Publisher Full Feeds, which is a delivery from a specific publisher that provides distributors with the content offering from that publisher. Comtex News Network also offers SmarTrend products, which include Morning Call, a daily stock market letter; SmarTrend Spotlights, selected stock news; and SmarTrend Alerts directly to consumers via subscription at mysmartrend.com, as well as through financial distributors. Comtex News Network is based in Alexandria, Virginia.
CMTX News:
May 12 - Comtex Reports Third Quarter Fiscal 2008 Earnings
Comtex News Network, Inc. (OTCBB: CMTX), a leading provider of economically useful electronic real-time news, content and SmarTrend market products, today announced financial results for its third fiscal quarter and the nine month period ended March, 31, 2008.
Comtex reported $232,000 of operating income and net income of $244,000, or $0.02 per share for the third quarter of fiscal 2008, compared to operating income of $61,000 and a net loss of $(181,000), or $(0.01) per share for the quarter ended March 31, 2007. The growth in profitability resulted primarily from decreases in both fixed product costs and overhead expenses. Comtex's revenues were approximately $1.8 million for both the quarter ended March 31, 2008 and for the third quarter of the previous fiscal year.
Comtex reported operating income of $797,000 and net income of $754,000, or $0.05 per share for the nine months ended March 31, 2008, versus operating income of $83,000 and a net loss of $(192,000), or $(0.01) per share, for the comparative prior year period. Comtex reported revenues of $5.4 million for the nine months ended March 31, 2008 compared to $5.2 million for the nine months ended March 31, 2007. The increase in revenue was primarily due to the realization of approximately $181,000 of previously unrecognized revenue, plus increased sales to existing clients.
For the nine months ended March 31, 2008, EBITDA (as defined and explained in the accompanying note to the table below), excluding the effects of stock- based compensation, was approximately $858,000, compared to $204,000 for the nine months ended March 31, 2007. The increased EBITDA was primarily the result of the collection and recognition of revenue from prior periods, the reversal of accrued expenses related to a legal settlement, and reductions in both fixed product costs and overhead expenses.
Chip Brian, Comtex's President and CEO, stated, "Comtex's third quarter fiscal 2008 financial results show increased profit margins, working capital and stockholders' equity, while revenues remained basically unchanged. Comtex is well positioned to capitalize on the convergence of content and technology to create innovative new products and services."
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