Steel Vault (OTCBB: SVUL) an emerging provider of identity security products and services, announced that its subsidiary, NationalCreditReport.com, has surpassed its milestone of 5,000 subscribers, thanks in large part to increased marketing efforts begun in mid February of this year. NationalCreditReport.com specializes in providing consumers with accurate, complete and easy-to-understand credit reporting and monitoring services. Management is pleased with the rapid success of their recently implemented marketing campaign and plans to implement various strategic marketing programs to maintain the steady expansion of their subscriber base. Shares lost two cents on the week to close at $0.37.
Volume Alert: Shares of Generex Biotechnology Corporation (NASDAQ: GNBT), a leader in the area of buccal drug delivery, surged 14.6% last week on more than three times average volume after Torc Investments and Research LLC, a NASD registered broker-dealer, initiated research coverage of the company with a buy rating and a 12-month price target of $3-$3.50. The report discussed the position of GNBT’s main product in the lucrative and rapidly growing diabetes market. An estimated 350 million people worldwide will be affected by 2025 (increasing from 230 million currently). Diabetes is the fourth leading cause of death-by-disease globally, and according to the International Diabetes Federation, a person dies from diabetes-related causes every 10 seconds. Shares ended the week up 22 cents and closed at $1.72.
Houston Patrice Green Sancon Resources Recovery, Inc. (OTCBB: SRRY), a rapidly growing Chinese environmental services and waste recycling company, commented on its record quarterly revenue of approximately $3.9 million for the three months ended September 30, 2008 which was also the company’s third consecutive quarter of profitability. Despite a challenging economic environment, management maintains that the current investments Sancon is making in infrastructure will dovetail the Chinese government’s environmental initiatives which should lead to continuous growth for the rest of the year as well as into 2009. Additionally, Sancon reiterated its previous guidance of 2008 revenue totaling between $11 million and $12 million while it reduced its full-year net income forecast to between $1.9 to $2.0 million, or $0.08 to $0.09 per share from $2.0 million to $2.1 million and $0.09 to $0.1 per share. However, even at the lower-end of the reduced EPS guidance, the company would be trading at a bargain-level P/E multiple of less than 3. Shares ended the week at $0.23, down 9 cent.
GreenShift Corporation (OTCBB: GSHF), a company devoted to facilitating the efficient use of natural resources, announced last week the execution of letters of intent that provide for the design, construction and operation of twelve corn oil extraction systems and four biodiesel production systems at four separate ethanol production facilities in the Mid-Western U.S. If successfully converted into executed contracts, this would result in a total of about $80 million in process engineering and equipment sales and certain ongoing royalties for majority-owned process engineering company, GS CleanTech, and about $12 million in one-time equipment sales and about $30 million per year in ongoing biodiesel sales for GS AgriFuels, GreenShift's majority-owned clean fuel production company. Shares ended the week at $0.03, down 1 cent.
Volume Alert: Shares of Novelos Therapeutics, Inc. (OTCBB: NVLT), a biotechnology company focused on oxidized glutathione for use in fighting cancer and hepatitis, traded over 6 times average volume after it announced that Dana-Farber/Partners Cancer Care has enrolled the first patient in a Phase 2 trial of NOV-002 in combination with carboplatin in platinum-resistant ovarian cancer patients. The primary objective of this trial will be to determine the tumor response rate in a cohort of women with platinum-resistant ovarian cancer after treatment with NOV-002 and carboplatin, where interim results are expected in early 2007. Management continues to move its product pipeline forward where in addition to being in Phase 3 development with NOV-002 for lung cancer, it is now in Phase 2 for platinum-resistant ovarian cancer, for which there is a major unmet medical need. The stock rose 9 cents to end at $0.85 for the week.
Drug delivery company Generex Biotechnology Corporation (NASDAQ: GNBT) announced that it has received approval from the ethics committee at University Campus Bio-Medico of Rome to conduct a Generex Oral-lyn trial with subjects diagnosed with or susceptible to developing Impaired Glucose Tolerance. The endpoint of the study is to determine if glucose levels will drop when subjects use Generex Oral-lyn, the company's proprietary oral insulin spray product, with the company's proprietary RapidMist drug delivery device. The company also announced that enrollment of patients had begun for a new Phase I clinical trial employing a novel immunotherapeutic cancer vaccine being developed at Antigen Express, its wholly-owned subsidiary. The new trial will employ two immunotherapeutic vaccines designed to work in concert to activate the immune system to recognize and kill tumor cells in breast and ovarian cancer patients. In other news the company commented on recent trading activity in its common stock saying it knows of no reason for the recent decline in the price of its stock. The stock fell by $0.09 for the week, to close at $0.68.
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