Turning Pennies into dollars: (OTCBB: JADG), (OTCBB: JYHW), (OTCBB: IESV), (Pink Sheets: CVSC).
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Jade Art Group Inc. (OTCBB: JADG) (March 5, 2008) announced its financial projections for 2008. Guidance reflects normal business operations and does not include extraordinary or non-operating events. The projections are based on the transfer of Jade Art Group's subsidiary, Jiangxi XiDa Wooden Carving Lacquerware Co., Ltd., as per the previously disclosed exclusive distribution right agreement with Wulateqianqi XiKai Mining Co., Ltd. ("XiKai"). The Company anticipates revenue between $61 million and $65 million, net income between $37 million and $41 million and earnings per share of $0.15 to $0.17.
Jade Art Group's financial projections are supported by its recently announced sales agreements for the distribution of jade, totaling $37.5 million, to companies in SuZhou, YangZhou, ShenZhen, PuTian, and QuanZhou, China. Jade Art Group expects to sign additional agreements throughout the year to bring its revenue in line with 2008 projections.
Jade Art Group distributes SheTai Jade based on its distribution right agreement with XiKai, whereby Jade Art Group acquired exclusive distribution rights to sell 90% of the SheTai Jade produced from the mine for the next 50 years. The SheTai Jade mine's reserves are unique, in that they include some of the oldest (formed approximately 1.8 billion - 2.4 billion years ago) jade ore found in China and are considered to be of the highest quality in terms of rigidity and relative size of its pieces. SheTai Jade is as hard as quartz, with a degree of hardness between 7.1 and 7.3 on the Mohs scale, which is much higher than that of most jade. In addition, SheTai Jade is abrasion resistant, smooth and highly reflective. The green is pure and the gems are translucent, with a glassy luster.
Due to its characteristics, SheTai Jade has a broad spectrum of applications. It can be used in commercial construction, decorative jade artwork, as well as intricately carved jade jewelry.
Mr. Hua-Cai Song, CEO of Jade Art Group, remarked, "We are confident Jade Art Group will meet its projections for 2008. Our distribution right agreement with XiKai provides us with a stable and long-term supply of jade from one of the largest jade reserves in China. Our costs remain low due to the beneficial terms in our distribution agreement with XiKai, as well as the fact that all of our sale agreements require our customers to accept the responsibility for the transportation and handling costs of the jade material."
Mr. Song continued, "Jade Art Group has developed quickly over the past several months. The five sales agreements to-date represent expected future sales worth $37.5 million. Our unique market advantage, in addition to the increasing popularity of SheTai Jade, suggests an outstanding year for Jade Art Group and profitable returns for our shareholders."
About Jade Art Group Inc.
Jade Art Group Inc., with the formation of Jiangxi SheTai Jade Industrial Co., Ltd., its wholly-owned subsidiary, is focusing its business-model on the distribution of raw jade sourced from the SheTai Jade mine in China. This mine has one of the largest jade reserves in China and is owned by XiKai, with which Jade Art Group signed an agreement to acquire exclusive distribution rights to sell 90% of the SheTai Jade produced from the mine for the next 50 years. Several national jade experts have noted the perceived superiority of SheTai Jade as compared to the other existing varieties of Chinese jade.
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Jayhawk Energy Inc. (OTCBB: JYHW) (March 5, 2008) Form 8-K for JAYHAWK ENERGY, INC.
On February 18, 2008, the Jayhawk Energy, Inc. ("Registrant") executed a Purchase and Sale Agreement ("Agreement") with Galaxy Energy Inc., pursuant to which the Registrant will acquire certain oil, gas and mineral rights and interests and other related operating assets located in Crawford and Bourbon Counties, Kansas in exchange for $2,000,000. The Agreement provides for a closing date of March 31, 2008. This brief description of the Purchase and Sale Agreement is not intended to be complete and is qualified in its entirety by reference to the full text of the agreement attached to this report as Exhibit 10.6 .
Item 3.02 - Unregistered Sales of Equity Securities.
On February 28, 2008, we issued 50,000 shares of our common stock to Titan West Energy Inc. for services provided to the Registrant. The shares were issued in a transaction which we believe satisfies the requirements of that exemption from the registration and prospectus delivery requirements of the Securities Act of 1933, which exemption is specified by the provisions of Section 5 of that act and Regulation S promulgated pursuant to that act by the Securities and Exchange Commission.
Item 7.01- Regulation FD Disclosure.
On February 28, 2008, the Registrant issued a press release announcing the execution of Purchase and Sale Agreement with Galaxy Energy Inc. This press release is furnished as Exhibit 99.1 to this Form 8-K and incorporated by reference as if set forth in full. This information is not filed but is furnished to the Securities and Exchange Commission pursuant to Item 7.01 of Form 8-K.
Item 9.01- Financial Statements and Exhibits
(d) Exhibits
Exhibit Description 10.6 Purchase and Sale Agreement dated February 18, 2008, by and among Jayhawk Energy, Inc., and Galaxy Energy Inc.
99.1 Press Release dated February 28, 2008.
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Intrepid Technology and Resources, Inc. (OTCBB: IESV) (March 5, 2008) Intrepid Technology and Resources, Inc., a renewable alternate energy and soil amendment company, announce yesterday that it has signed its first strategic industrial customer for renewable methane gas.
An industrial user near the Company's Whitesides plant has entered into a fixed price contract to purchase ITR's biomethane to replace propane for the upcoming 2008 production campaign which is expected to be underway by the end of March. This contract provides an attractive discount to the user over the cost of propane (currently at $25 per million BTU's) resulting in savings to the industrial customer but at the same time providing a substantially better price to ITR than can be obtained through sales to traditional natural gas customers. While contractual terms negate the opportunity to release actual provisions of the agreement the price will dramatically alter all financial models using previously released contracts and projections and greatly accelerate Intrepid's emergence into profitability and as a major component in the burgeoning alternative energy industry.
By way of comparison, ITR's current pipeline contract ties the price of gas to the Rocky Mountain Natural Gas Index, which is currently at about $8 per million BTU's, or roughly one third the price of propane on an energy equivalent basis.
Industrial plants that do not have access to natural gas lines have historically been forced to use propane. While the price of natural gas has doubled in the last four years, propane prices have tripled. This puts ITR in a unique position to offer an energy source alternative to these "stranded" industrial propane users due to our investment in compressed natural gas trailers which allow us to truck to industrial facilities and still be highly competitive with propane costs. This new customer's demand is a near perfect match for the Whitesides plant output, thus leaving WestPoint gas available for other users -- including large propane users -- nearer to the WestPoint plant.
Jake Dustin, ITR President stated, "Our ability to market our product in this way is a direct benefit obtained through the extensive Gas Technology Institute testing we recently completed. We have conclusively demonstrated that we not only meet the FERC pipeline quality standards, but we are also able to pass the even more stringent and restrictive DOT gas transport standards. No one else has been able to clear that bar, making us the only biomethane producers in the country who can haul their product over the open road and deliver direct to customers. That's a pretty significant advantage."
Gas production in excess of that used by propane-reliant customers, if any, will be sold to Intermountain Gas under the Company's existing contract. This multiple-contract structure provides considerable flexibility to the Company and will allow us to optimize gas revenues from the plants.
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Cardiovascular Sciences, Inc. (Pink Sheets: CVSC) (March 5, 2008) a client company of the award-winning University of Florida Technology Incubator program and their recently announced partner, Medical Technologies Home Enterprises, Inc., are enthused to announce plans to pursue an agreement with Garden State Nutritionals of West Caldwell, NJ. The Company will negotiate for the manufacture, testing and packaging of a revised line of health promotion supplements with a tie-in to some of the Company's other interests.
John Martin, recently appointed to the Company's board of directors, has previously worked with Garden State to produce a very successful line of supplements that proved effective in the programs of Weight Loss Forever International, Inc. of which Mr. Martin was the founder and president. "It's exciting to develop a new offering of effective nutritionals and supplements with a company the quality and size of Garden State," exclaimed Mr. Martin following a pivotal meeting last week in Orlando.
Garden State Nutritionals is a division of Vitaquest International and the world's leading custom manufacturer of nutritional products. GSN has been under continuous family management for more than 30 years and boasts one of the world's largest and most compliant manufacturing and testing facilities for nutritional products. Long standing relationships with many of this industry's most well established and highly regarded names demonstrate evidence of the company's commitment to purity, quality and service. Drawing upon a palette of more than 1200 quality controlled ingredients, Garden State Nutritionals produces more than 2000 new products annually.
"We are pleased to have chosen Garden State for the production of our private label line of health promotion and protection products," states the Company's CEO, Dr. Larry Hooper. He goes on to explain that, "With their state-of-the-art technologies and equipment, Garden State is able to bring the same level of quality, regardless of the size of the batch. In addition, Garden State is fully GMP compliant and has been awarded the National Nutritional Foods Association coveted GMP 'A rating.'"
Arrangements have been made for representatives of Cardiovascular Sciences, Inc. to travel to the corporate and manufacturing facilities of Garden State Nutritionals in New Jersey next week. The goal of the intended meetings will be to finalize the formulations and line-ups of the Company's private label offerings and negotiate for the manufacture and packaging of the supplements.
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