Turning Pennies into dollars: (OTCBB: XSNX), (OTCBB: BSRC), (OTCBB: USSUE), (OTCBB: EVCC), (OTCBB: TNSX)
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XSUNX INCORPORATED (OTCBB: XSNX)
Xsunx, Inc., a thin-film photovoltaic (TFPV) company, focuses on developing thin film photovoltaic (TFPV) amorphous silicon solar cell manufacturing processes to produce TFPV solar modules. Its product includes XsunX ASI-120 module, which is a 125 peak watt TFPV solar module utilizing glass substrates and a proprietary semiconductor manufacturing system. XsunX ASI-120 provides for a module delivering high power output, and size and framing that would allow for the use of various existing mounting systems. The target markets for the TFPV solar module include solar farms, government agencies, and utility companies, as well as power purchase agreements and large commercial installations worldwide. The company, formerly known as Sun River Mining, Inc., was incorporated in 1997 and changed its name to XsunX, Inc. in 2003. XsunX is headquartered in Aliso Viejo, California.
XSNX News:
May 19 - XsunX Announces Agreement with Praxair, Securing Key Manufacturing Facility Gas Needs
XsunX, Inc. (OTCBB: XSNX), a solar technology company, announced that it has signed an agreement with Praxair, Inc. (NYSE: PX) for the supply of bulk industrial gases for its new multi-megawatt thin film photovoltaic (TFPV) solar manufacturing facility near Portland, Oregon. XsunX is refurbishing an existing 90,000 sq. ft. building, located in Wood Village, to house its integrated TFPV manufacturing operations.
Praxair is a leading producer of industrial gases in North America and is uniquely positioned to meet the requirements for reliable supply of all gases required. "XsunX joins a growing number of customers that value Praxair's capabilities to reliably supply high-purity gases, sputtering targets and services for the PV industry. We look forward to supporting XsunX's production of PV modules and to help drive efficiencies in their operations," said Ray Roberge, president, Praxair Electronics.
"The agreement will provide for Praxair's expertise in the design, installation, and management of our gas handling and delivery systems and a long term contract to supply the bulk of our manufacturing gas needs," stated Mr. Tom Djokovich, CEO for XsunX. "We are pleased that such a major part of the integrated thin film TFPV manufacturing process is in good hands. Having secured gas supplies with Praxair to support a large part of our thin film TFPV manufacturing processes, we have begun to meet our short and mid term goals in the build out and supply of our multi-megawatt thin film photovoltaic solar manufacturing facility," concluded Djokovich.
ABOUT PRAXAIR INC.
Praxair is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2007 sales of $9.4 billion. The company produces, sells and distributes atmospheric and process gases, and high-performance surface coatings. Praxair products, services and technologies bring productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and others. More information on Praxair is available on the Internet at www.praxair.com.
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BIOSOLAR INCORPORATED (OTC: BSRC)
BioSolar, Inc. engages in the research and development of bioplastic materials from renewable plant sources for use in photovoltaic solar cells. The company develops bio-based plastics components that meet the thermal and durability requirements of solar cell manufacturing processes for conventional crystalline cell designs, as well as thin film photovoltaic devices in an effort to capitalize on cost advantages to current petroleum based solar cell components. Its bioplastic materials can be also used directly in conventional manufacturing systems, such as injection molding and thin-film roll-to-roll, to create superstrate layer, substrate layer, and backsheet, as well as module and panel components. The company was founded in April 2006. It was formerly known as BioSolar Labs, Inc. and changed its name to BioSolar, Inc. in June 2006. BioSolar, Inc. is headquartered in Santa Clarita, California.
BSRC News:
May 19 - BioSolar's Dr. Stan Levy Selected to Present Company's Breakthrough BioBacksheet Solar Cell Technology at Key Industry Meeting
Chief Technology Officer to Speak at SPIE, the Largest Optical Science and Technology Meeting in North America
BioSolar(TM), Inc. (OTCBB: BSRC), developer of a breakthrough technology to produce bio-based materials from renewable plant sources that reduce the cost of photovoltaic solar cells, announced that Dr. Stan Levy, the company's Chief Technology Officer, will present at the SPIE Symposium on Solar Applications and Energy conference on Tuesday, August 12, 2008 in San Diego, CA.
Dr. Levy will present findings from the company's technology development program, which led to BioSolar's breakthrough photovoltaic cell component, the BioBacksheet(TM). He will speak to thousands of engineers and researchers gathered for the SPIE symposium, the largest optical science and technology meeting in North America.
"Dr. Levy has spearheaded our technology development efforts, and in a highly efficient fashion, delivered a uniquely sophisticated product that has stimulated interest on the part of a significant number of major solar cell manufacturers," said Dr. David Lee, CEO of BioSolar. "The submissions panel at the SPIE Symposium on Solar Applications and Energy recognizes the unique nature of our new product and has asked Dr. Levy to deliver an oral presentation, rather than the more common poster presentation. This forum will allow Dr. Levy to discuss in detail the various scientific breakthroughs underlying our BioBacksheet(TM)."
BioSolar recently announced that the company has delivered BioBacksheet(TM) samples to a select group of solar cell manufacturers in multiple regions of the country. BioSolar also has received numerous requests for analysis samples from high-volume manufacturers, located in the U.S. and abroad.
"The high level of industry interest in our new product and Dr. Levy's invitation to speak at SPIE are tributes to the significance of his contributions to BioSolar and our shareholders," said Dr. Lee.
ABOUT SPIE
SPIE is an international membership society, serving scientists and engineers in industry, academia, and government, as well as companies producing leading-edge products. SPIE constituents work in a wide variety of fields that utilize some aspect of optics and photonics, which is the science and application of light. SPIE Optics+Photonics is the largest optical sciences and technology meeting in North America, including over 55 courses and workshops. The Solar Energy + Applications track of the conference is dedicated to finding ways to move toward secure, affordable, and environmentally sustainable energy to meet the world's accelerating energy needs. For more information, visit http://spie.org/solar-energy.xml.
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USA SUPERIOR ENERGY (OTCBB: USSUE)
USA Superior Energy Holdings, Inc., a development stage company, operates in the energy industry in the United States. The company, through its wholly owned subsidiary, USA Superior Energy, Inc., engages in the development, ownership, and operation of prospects and energy projects in East and Southeast Texas. It also focuses on using nitrogen technology to recharge and produce oil and gas from under-pressured partially depleted reservoirs. The company was founded in 2005 and is based in Houston, Texas.
USSUE News:
May 20 - USA Superior Reports 2007 Results
USA Superior Energy Holdings, Inc. (OTCBB: USSUE) (the "Company"), a Houston-based energy company focused on acquiring, owning, operating and applying enhanced oil recovery ("EOR") techniques to existing shallow fields of oil and gas that have been idle or marginally producing, reported its operating results for the year ended December 31, 2007. On May 16, 2008, the Company filed its Annual Report on Form 10-K for the twelve months ended December 31, 2007. It is recommended that interested parties consult the Form 10-K report for additional information on the Company's 2007 operating results and financial condition.
Mr. Rowland Carey, Chairman and CEO, stated: "2007 was a seminal year for our company. Essentially it was a start up year with minor revenues and losses associated with our reverse merger and issuances of stock to key employees as we prepared the company for additional growth. Accomplishments during the year were (1) becoming a public company to provide access to the capital markets, (2) the acquisition of our most substantial asset, the Bateman Project, and (3) the preparation of that project for EOR operations to begin in 2008.
"As we operate in 2008, we are focused on (1) strengthening our management team to bring expanded talent and discipline to manage our growth, (2) increasing our capital base to fund our growth, (3) continuing our business strategy of acquiring and joint venturing shallow fields of oil and gas that have been idle or marginally producing, (4) accelerating oil production from the Bateman Project and (5) communicating more effectively with the capital markets. We continue to believe that efficient low-cost enhanced recovery of oil and gas in existing proven fields can bring outstanding returns to our investors."
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ENVIRONMENTAL CONTROL CORPORATION (OTCBB: EVCC) Up 50.00% in morning trading
Environmental Control Corporation is a developer of Emission Control Devices for small Spark Ignition (SI) combustion engines. Typical devices within this spectrum include: walk behind rotary mowers, rear engine riding mowers, front engine lawn tractors, riding garden tractors, snow throwers, commercial turf mowers, chainsaws, hand held blowers, backpack blowers, trimmers/brush cutters, mopeds, scooters, snowmobiles, all-terrain vehicles and personal water crafts. Small SI engines produce approximately one tenth of U.S. mobile source hydrocarbon (HC) emissions and are the largest single contributor to non-road HC inventories.
EVCC News:
May 20 - Environmental Control Corporation Acquires Second Canadian Patent
Environmental Control Corporation (OTCBB: EVCC) ("EVCC") announced the approval of its second Canadian Patent. The Reverse Flow Catalytic Muffler, Canadian Patent # 2,448,648, now accompanies Canadian Patent # 2,448,742 - The Combined Catalytic Muffler. Other intellectual property currently held by EVCC includes two U.S. Patents: The Reverse Flow Catalytic Muffler (U.S. Patent # 7,018,590) and The Combined Catalytic Muffler (U.S. Patent # 6,622,482); and one pending patent in Europe: the Reverse Flow Catalytic Muffler (Patent Application # 02742591.7). It is anticipated that the European patent application will be approved and registered in the near future.
EVCC, in partnership with Richards Engine Development (R.E.D.), continues to work on the development of its two-stroke 185 cc catalytic muffler design. A further press release will be disseminated announcing the completion of this one-piece catalytic muffler design, as well as a press release announcing the final test date at Intertek Carnot Emission Services (Intertek CES) in San Antonio, TX.
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TRANSAX INTERNATIONAL LIMITED (OTCBB: TNSX) Up 100.00% in morning trading
Transax International Limited, together with its subsidiary, Medlink Connectividade em Saude Ltda, provides health information management products and solutions to manage coding, compliance, reimbursement, abstracting, and record management's processes for healthcare providers and health insurance companies. Its compliance management, and coding and reimbursement management solutions help to conduct automated prospective and retrospective reviews of in-patient and out-patient claims data. The company's abstracting solutions enable healthcare facilities to collect and report patient demographic and clinical information. Its record management solutions automate the record tracking and location functions, monitor record completeness, and facilitate the release of information process within health information management departments. Transax International offers MedLink Solution, a software that enables the real time automation of routine patient eligibility, verification, authorizations, claims processing, and payment functions. It serves healthcare providers, such as physicians, clinics, hospitals, laboratories, diagnosis centers, and emergency centers; and health insurance and group medicine companies with operations in the United States, Brazil, Australia, and Mauritius. The company has strategic alliances with Centro Brasilerio De Informatica Medica S/A; Mosaic Software, Inc.; and Hypercom Corporation to support its MedLink Solution's system architecture and design. Transax International is based in Miami, Florida.
TNSX News:
May 21 - Transax International Reports Record Revenues and Profitable First Quarter 2008 Results
Transax International Limited (OTCBB: TNSX) (Transax), a network solutions company for healthcare providers and health insurance companies, reported record financial results for the first quarter ended March 31, 2008.
For the quarter ending March 31, 2007, Transax generated net revenues of $1,480,964 compared to $1,186,226 in net revenues during first quarter of 2007, a 25% increase. The increase in revenue was reflected in rollout of previously announced contracts and increasing percentage of POS transactions. The increase in revenues also reflects a currency gain from the weakening US dollar. Transaction volume for the quarter was 2.1 million.
Income from operations in the first quarter of 2008 was $125,379 compared with $113,900 income during the same period in 2007. Net income for the first quarter of 2008 was $739,863, or $0.02 per share, compared with net income in the first quarter of 2007 of $402,005, or $0.01 a share. The increase in net income is principally due to an improvement in derivative liability expenses.
For the quarter ending March 31, 2008, the Company incurred $1,355,585 in operating expenses compared to $1,072,326 during the same period in 2007. The majority of the increase in expenses was attributed to increases in compensation and benefits with respect to the Company's Brazil operations and increases in professional fees throughout the quarter due to the sale of a minority interest. During the quarter the Company signed additional contracts in Brazil however no revenues were recorded.
During the quarter ending March 31, 2008 the Company sold a 45% minority interest in its Brazil operations for $3.2 million and a potential performance bonus payable in 2009. A deposit of $200,000 was paid in December 2007 and $600,000 paid on closing of the transaction. The balance of $2.4 million is to be paid in monthly installments through to April 2009.
Stephen Walters, President & CEO of Transax stated, "I am very pleased to announce a profitable quarter for the Company's operations. The Company's sale of a 45% minority interest will materially help in reducing the Company's debt while providing capital to review other potential business for Transax. In addition, the Company has been in negotiations to sell the U.S. rights to its product with due diligence being undertaken by a potential buyer during the quarter. There is no guarantee a transaction for the U.S. rights will be consummated, however we will continue to inform the investment community on any updates available."
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