For more info: http://ppbv.realpennies.com
Purple Beverage Company, Inc. (OTCBB: PPBV) (Wed, March 12, 2008, 8:30am ET) Purple Beverage Company, Inc. announced it has signed a distribution agreement with Haralambos Beverage Company for placement of Purple in key outlets in Los Angeles, Orange, San Bernardino and Riverside counties.
Haralambos Beverage Company successfully represents industry leaders such as Snapple , Vitaminwater , Corona and Corona Light in a market known for pioneering consumer trends. The company distributes to both off-premise outlets, such as retail stores and delis, and on-premise locals, including hotels, restaurants, nightclubs and bars.
"We are very excited to partner with Haralambos Beverage Company to introduce Purple into this thriving beverage market," said Purple Beverage Company Founder and CEO Ted Farnsworth. "As one of the largest distributors in Southern California, Haralambos Beverage Company has the unparalleled capability to power Purple throughout the region, supporting both our off-premise and on-premise strategies."
"We are very selective of the products we take on," said Tony Haralambos, President of Haralambos Beverage Company. "But after watching Purple develop a strong consumer base in competitive markets, such as New York and Florida, we knew we'd found a winner. Purple easily created a demand for itself, not only in retail stores but also in on-premise outlets like bars and restaurants. Here in Southern California, these outlets cater to the nation's most trendsetting, health-conscious consumers. We definitely see both a need and a niche for Purple in our market."
Introduced in 2007, Purple is a unique and tasty blend of seven antioxidant-rich juices, including the exotic acai berry, black cherry, pomegranate, black currant, purple plum, cranberry and blueberry. The powerful health benefits of these juices are packed into an all-natural, no-sugar added beverage that is great as an on-the-go drink or as part of a healthy fruit smoothie.
Because adding alcohol to antioxidant-rich berries increases their antioxidant power - as confirmed by researchers from the United States Department of Agriculture and by a study at Kasetsart University in Thailand - Purple is also the perfect addition to a favorite cocktail and is set to become one of the hottest cocktail trends in nightclubs and lounges.
"This distribution deal, along with our new California spokesperson, Los Angeles Angels of Anaheim star Torii Hunter, sets the stage for Purple to take the region by storm," added Farnsworth. "We have a fantastic product, the market is there and the timing is right."
Purple carries a suggested retail price of $2.99 for a 10 oz. bottle and can be found in health food stores, restaurants, delis, drug stores, supermarkets and convenience stores in select locations, including New York, Los Angeles, Miami and Hawaii. In February, Purple became available in select GNC stores, and look for it nationwide in early 2008. For more information, visit www.drinkpurple.com.
For more info: http://tma.realpennies.com
Thornburg Mortgage Inc. (NYSE: TMA) (Tue, March 11, 2008, 7:52am ET) Thornburg Mortgage Inc., a jumbo mortgage lender and real estate investment trust, on Tuesday restated its 2007 losses, increasing them by 69 percent because of a reduction in the value of mortgage assets.
The write-down, disclosed in a regulatory filing, was 58 percent larger than the company warned of just last Friday.
Thornburg now says it lost $1.55 billion, or $12.97 per share, in 2007, compared with a previous estimate of $915.4 million, or $7.48 per share.
The company restated earnings as it was forced to reduce the value of its adjustable-rate mortgage assets, according to a filing with the Securities and Exchange Commission. A write-down of $676.6 million was taken on adjustable-rate mortgage assets as of Dec. 31 because Thornburg is unsure if it will be able to hold the assets until maturity, the company said.
Thornburg might be forced to sell the assets to raise capital to cover default notices and margin calls on some of its financing agreements. Since the beginning of the year, Thornburg has received $1.8 billion in margin calls, meeting all but $610 million of the calls.
Available capital and proceeds from the sale of some assets helped Thornburg meet the majority of margin calls, but as of March 6, Thornburg did not have enough capital to meet the remaining $610 million.
The lack of capital to pay off the remaining calls sparked notices of default with four lenders. Thornburg said it reached agreements to delay default notices with some other lenders, but those agreements were set to expire Monday, according to the filing.
Margin calls force borrowers to repay loans or put up more collateral to secure them. If a borrower is unable to meet the calls, the creditor typically can seize and liquidate assets used as collateral against the financing agreements.
The margin calls have been made amid a new round of severe pricing pressure on mortgage-backed bonds and assets. The value of mortgage securities has tumbled in recent weeks as investors continue to shy away from nearly all types of fixed income products.
In August, a similar scenario unfolded where Thornburg was forced to sell some of its assets to successfully meet margin calls.
For more info: http://gtre.realpennies.com
Gran Tierra Energy Inc. (OTCBB: GTRE) (Wed, March 12, 2008, 10:00am ET) Gran Tierra Energy Inc. announced that the company's senior management will discuss the company's results of operations for the fourth quarter and year ended December 31, 2007 during a conference call scheduled for Friday, March 14, 2008, at 10:00 a.m. Eastern Time. The company's financial results for the fourth quarter and year 2007 year end are scheduled to be released earlier that day.
For more info: http://enei.realpennies.com
ENER1, Inc. (OTCBB: ENEI) (Wed, March 12, 2008, 5:00pm ET) ENER1, Inc., a leader in automotive energy storage, today reported results for the year ended December 31, 2007 and discussed the business outlook for 2008.
Summary results for fiscal year 2007 include:
Year-end cash and equivalents of $25 million; -- $43 million increase in stockholders equity, with a year-end shareholders deficit of $(7) million; -- $37 million reduction in debt and redeemable convertible preferred stock at year end, with less than $4 million in principal of our senior secured debentures outstanding as of today; -- For the first time since 2002, our independent auditor issued an unqualified report on our financial statements.
Highlights of the company's outlook for 2008 include:
Placed an order for a large-format coating machine and related equipment for our Indianapolis plant with capacity to produce over 1.0 million HEV battery cells per month; If our EV battery prototypes are accepted by Think Global, we are scheduled to commence volume production under our contract by year-end; -- Our goal is to receive awards in 2008 to have our battery systems designed into two additional car models; -- Plan to achieve 1 kW of power for our EnerFuel division high-temperature fuel cell stack program.
Commenting on the company's progress in 2007, Ener1 Chairman Charles Gassenheimer said: "We now have customer-funded programs in each of the three verticals of the electric drive train -- HEV, PHEV, and EV. And we are preparing for volume production of battery packs at EnerDel in Indianapolis under our supply agreement with Think Global, as well as for possible HEV contracts from other automakers. Deliveries under the Think contract are expected to commence in December 2008. We plan to make $12 million of new equipment expenditures in 2008. That number may increase as we get further visibility on customer purchase orders for our products."
Previously, industry expectations for the introduction of lithium-ion batteries into HEVs targeted 2010. However, developments at last week's Geneva Auto Show may be the first indication of acceleration in this process. Daimler, General Motors, and Chrysler all announced plans to start using lithium-ion battery systems, with Daimler announcing the earliest expected adaptation -- a 2009 Mercedes sedan.
Recent supply problems with respect to nickel-metal hydride batteries combined with the large number of scheduled hybrid vehicle introductions in 2009 and 2010 have heightened industry attention on a supply-demand imbalance that is developing for the lithium-ion battery. We believe that worldwide, there is little lithium automotive battery manufacturing capacity. Our EnerDel plant in Indianapolis, with planned capacity to produce 300,000 HEV battery packs a year, is the only U.S. manufacturing facility for automotive lithium-ion battery systems.
As exciting a year as 2007 has been for Ener1 and the industry at large, we expect that 2008 will represent an even bigger step forward. We believe that the safety and power of our HEV batteries will enable Ener1 to advance its leadership position among the manufacturers of lithium-ion battery systems globally.
Read our full disclaimer at: http://www.realpennies.com/start.html
Investors are advised that this analysis is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy. This report does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive this information. The information contained herein is based on sources that we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. Past performance is no guarantee of future results. Please consult a broker before purchasing or selling any securities mentioned on RealPennies. For more movers: http://www.realpennies.com/wrapup.html
Any opinions expressed herein are statements of our judgment as of the date of publication and are subject to change without notice.
Sitemap: http://www.realpennies.com/sitemap.html
Sponsored by: http://www.isthemarketopen.com
RealPennies .
Telephone: 1-800-940-6559
Matt /at/ realpennies.com
