Thursday, April 15, 2010
Editor’s Notes: After the close of trading on Tuesday, April 13th, we released a new “Stock Alert” China New Media (BB: CMDI). Please go to www.TheGreenBaron.com and view the CMDI profile now. We expect this dynamic high growth, profitable company to continue moving higher. An 18-page BUY research report by RedChip was released about three weeks ago, and we suggest that members contact Karl Schilling at 1-800-733-2447, Ext. 130 to discuss this opportunity in more detail.
Be sure to see all press releases announced today by ECOtality, Inc (BB: ETLE), Aspire International (APIT), and Sunergy, Inc. (BB: SNEY). Each press release has a high degree of significance and we want everyone to be aware of these important developments.
“Stock Pick” Update
News Announced Today!
ECOtality, Inc. Announces 2009 Annual Financial Results and Provides Shareholder Update
ECOtality is a stock that could just as easily trade at $25 as $5 based on potential alone. The Company appears headed for a NASDAQ listing that will open it up to a whole new investor base. We see it being a stock that over time is added to mutual fund portfolios that invest in this sector. The developments that ETLE have accomplished over the past year are extraordinary. Be sure to seriously consider adding this stock to your portfolio for the long-term.
PHOENIX--(BUSINESS WIRE) - ECOtality, Inc. (OTCBB: ETLE), a leader in clean electric transportation and storage technologies, announced today its financial results and operational updates for the financial year to date for the period ended December 31, 2009.
Throughout the fourth quarter and fiscal year ended December 31, 2009, ECOtality reached numerous milestones. The company's leadership was acknowledged with the award of nearly $100 million from the United States Department of Energy to pilot The EV Project, the largest deployment of EVs and charge infrastructure undertaken in the United States. ECOtality also recently received a commitment through Shenzhen Goch Investment Limited for a credit facility providing up to U.S. $300 million to ECOtality China for product financing of the company's networked electric vehicle (EV) charging systems to utilities, governments, and major commercial and retail clients in global markets. In addition, the Company executed two joint ventures in China for the manufacturing and distribution of EV infrastructure.
"The previous year was a time of rapid growth and monumental achievement at ECOtality," said Jonathan Read, President and CEO, ECOtality. "In addition to laying the essential groundwork for EV infrastructure in the United States and gaining access to a $300 million credit facility, we have also eliminated debt, increased our assets and begun to realize revenue through the DOE grant. We continue to strengthen relationships with numerous automobile manufacturers and potential retail partners throughout the world in order to establish ECOtality as a market leader in electric vehicle charging. In addition to our domestic successes, management believes that the recently established joint ventures in China to manufacture and distribute EV charging equipment are significant as China is expected to be the world's largest market for EVs."
Key Operational Highlights
During the past year we have:
· Announced that Shenzhen Goch Investment Limited, the partner of ECOtality's joint venture in China (ECOtality China), has obtained a credit facility agreement with China Construction Bank for a credit line of $1.5 billion.
· Shenzhen Goch Investment has committed to providing up to U.S. $300 million of the credit facility to ECOtality China for product financing of ECOtality's networked electric vehicle (EV) charging systems to utilities, governments, and major commercial and retail clients in global markets.
· Established a new, wholly-owned subsidiary, ECOtality Australia Pty Ltd., that will market and distribute battery charging equipment to support on-road electric vehicles (EV), industrial equipment, and electric airport ground support equipment (GSE).
· Signed agreements with Shenzhen Goch Investment, Ltd. (SGI), which established two joint venture companies in China. SGI committed $10 million to fund a joint venture with ECOtality to manufacture and assemble electric vehicle charging equipment and $5 million to fund a joint venture to market and sell these charging systems in China.
· Recently announced the Company has filed an application to list its common stock on the NASDAQ Capital Market.
· ECOtality raised $20.5 million in equity financing from various institutional investors. In addition to the capital raise, the debenture holders of ECOtality converted all $9.1 million of existing debentures and related warrants into equity.
Financial Results for the Year Ended December 31, 2009
In the year ended December 31, 2009, ECOtality recognized revenues of $8.6 million compared to $11.2 million for the year ended December 31, 2008. The decrease in revenue is largely related to management's focus on receiving and executing upon the U.S. Department of Energy contract for The EV Project.
Total operating expenses during the year ended December 31, 2009 were $17,289,242 compared to $7,900,473 for the same period of 2008. General and administrative expenses were $16,806,908 or 97% of total operating expenses for the year ended December 31, 2009 compared with $6,991,804 or 88% for the year ended December 31, 2008. The increased expenses are attributable to the company's successful attainment of key milestones, including the addition of new business; elimination of debt; and the initial costs related to the start-up of work on the DOE contract (The EV Project).
ECOtality recorded an operating loss of $13.6 million for the year ended December 31, 2009 compared with a loss of $3.8 million for the year ended December 31, 2008. For comparative purposes, the operating loss included the increased expenses related to the restructuring of debt and obtaining new capital. As of December 31, 2009, the Company had $11.8 million of cash on the balance sheet with assets of $19.6 million (compared to $8.8 million in assets for year ended December 31, 2008).
2010 Outlook
Mr. Read concluded, "Over the course of the year, we successfully transformed the company in to the leading EV infrastructure company both domestically and internationally. During the fourth quarter we strengthened our balance sheet and secured the capital needed to begin the deployment of our charging infrastructure under the DOE agreement."
Read added, "We expect 2010 to continue to be very exciting as we begin to capture additional market share in the rapidly growing $2 billion emerging industry for EV charging systems. We remain focused on execution of the DOE contract, developing key strategic relationships, and expanding our market presence while increasing our revenue and increasing earnings."
Shareholder Conference Call
Management will host a conference call with the investment community on Tuesday, April 20, 2010 at 4:30 pm eastern time. The call will discuss the financial results and operational updates for the Fourth Quarter 2010 and financial year to date for the period ended December 31, 2009. Interested parties may participate in the conference call by dialing 1-888-846-5003 or 1-480-629-9856 for international callers. Please call 5 to 10 minutes prior to 4:30 pm ET. When prompted, ask for the "ECOtality Shareholder Update and Fourth Quarter and Year Ended December 31, 2009 Financial Results Call." A telephonic replay may be accessed approximately two hours after the call through April 27th, by dialing 1-800-406-7325 or 1-303-590-3030 for international callers and entering the replay access code 4285246. The teleconference will be webcast simultaneously on the ECOtality website at www.ecotality.com/investors.
About ECOtality, Inc.
ECOtality, Inc. (OTCBB: ETLE), headquartered in Tempe, Arizona, is a leader in clean electric transportation and storage technologies. Through innovation, acquisitions, and strategic partnerships, ECOtality accelerates the market applicability of advanced electric technologies to replace carbon-based fuels. For more information about ECOtality, Inc., please visit www.ecotality.com.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.
Company Contacts:
Media:
ECOtality Inc.
Jeanine L'Ecuyer
(480)219-5005
Investor Relations:
Alliance Advisors for ECOtality
Thomas Walsh
(212)398-3486
“Stock Alert” Update
Aspire International, Inc.
(OTC: APIT)
News Announced Just After Open Today!
Aspire INTERNATIONAL TO INCREASE PRODUCTION of manganese
43-101 Report indicates 2,000 tons per day output potential - Aspire has received commitments to purchase entire productive output to capacity at market prices
Today’s announcement is a milestone event, and the magnitude of this press release should be felt for weeks and months to come in the stock price of APIT. The Company now states that it has received commitments to purchase all the manganese it can produce at market prices. This is tremendous news for the Company and we expect to communicate more numbers to our members as we calculate what this means. Bottom line: we see much higher prices for the stock.
Toronto, April 15, 2010. (PRIME NEWSWIRE) -- Aspire International, Inc. (“Aspire” or the “Company”) (OTC: APIT) announced today, further to its 43-101 report on its Na Wang Guangxi mine and deposit in China, it has received commitments to purchase all of the Manganese it can produce up to a level of 5,000 tons per day, and is anticipating a steady increase in production to a level of 2,000 tons per day, as soon as additional milling equipment can be acquired and installed.
The Guangxi manganese mining property has a mining area of 21.3 KM2 and has been described as a World Class deposit by Geologists and Mining Engineers and Consultants familiar with the site.
Recent site visits included observations of exploration, development and mining activities over the five mineralized zones. The Geological Survey Institute of Laibin City has produced a resource estimate for Site #1, The Na Wang concession. The estimation has a reserve of 7.4 million metric tones with average grade of 20% manganese that through a refining process increases to 38-40%.
At just 5% of the entire resource area under control, would produce estimated revenues of between US$200 and US$400 million, based upon prices over the past three years. This report is available at the company web site www.apit.ca and concurs with the Aspire 43-101 report on the property.
Examination of the of mining deposits in the Na Wang area were substantiated in the 43-101 report by numerous manganese rich-zones within Sandstone-Siltstone-Chert beds, deposited in a shallow quiescent platformal marine environment of lower Permian age, producing economic deposits of Manganese Oxide that can be surface mined economically, in particular a sheer vein of some 750 meters depth extending several kilometers, portending a very long mine-life, with a significant opportunity to apply modern exploration and mining methods to a major resource of 7,400,000 tons, in an area close to a deep port with excellent infrastructure, utilities, communications and access.
The 43-101 report recommends that Phase 1 increase production initially to 500 tons per day and once the circuit is complete and operating efficiently, initiate a larger full scale Phase 2 operation, to include 3 additional modules of 500 tons per day capacity be built to bring production to 2,000 tons per day main plant. This could ultimately be applied to other sites, scaling up to 5,000 tons per day.
This is very positive news for the company as the report only covered the 5 sites and surrounding areas and the entire deposit covers an area 20 times as large making it a very large deposit indeed.
The company is currently reviewing a number of attractive proposals to move it forward to the next level since it has already received strong purchase commitments for both Manganese and Iron Ore.
At Phase 1 production levels of 500 tons per day, the company expects to generate revenues of $10 Million per year or based on the current number of shares outstanding, upwards of $0.50 per share. Phase 2 would have the potential to generate $40 Million per year in revenues or closer to $2 per share and Phase 3 would increase production to $100 Million annually.
Manganese with no production in the US or Canada has been certified by the U.S. Dept of State as a “’Strategic Mineral’ essential for the economy and defense of the United States” that is unavailable in adequate quantities from reliable domestic suppliers and this is extenuated by the fact there is no satisfactory substitute for Manganese as the demand for its uses in hardened steel alloys continues to grow through innovative metallurgical discoveries and many new applications.
At full production, Aspire International in its own right would rank significantly high on the list of countries that produce Manganese. China, as one the World’s largest producers, still had to import 9.6 Million tones to offset a production shortfall in 2009. At its projected maximum output of 5,000 tons per day, Aspire could help to reduce Manganese imports to China by more than 10%.
About Aspire International Inc.
Aspire International Inc. (OTC: APIT) was registered in the state of Maryland. Perfisans Networks Corporation, (www.perfisans.com), is a wholly owned subsidiary of Aspire International Inc. and is headquartered in Markham, Ontario, Canada. Aspire GuangXi Inc. (http://www.apit.ca) is a Wholly Owned Foreign Enterprise (WOFE) in China. The Guangxi manganese mining property covers an area of 21.3 KM2 containing 7.4 million metric tons of ore, according to a 43-101 report certified by a qualified Geologist with 30 yrs experience.
The company is led by a seasoned management team to manage and oversee its mining operations and recently acquired the exploration rights to a very large 261 Sq Kilometer deposit covering several districts and provinces in the Kingdom of Cambodia and is estimated to hold over 1 Billion tons of Iron Ore.
More information can be obtained from the Company's web site at www.perfisans.com and http://www.apit.ca
Cautionary Statement
This press release contains statements relating to future results of Aspire (including certain projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: the cyclical nature of the semiconductor industry and the markets addressed by the company's and its customers' products; demand for and market acceptance of new and existing products; successful development of new products; the timing of new product introductions; changes in product mix; product obsolescence; the availability of manufacturing capacity; fluctuations in manufacturing yields; pricing pressures and other competitive factors; the ability to develop and implement new technologies and to obtain protection for the related intellectual property; the uncertainties of litigation; our ability to attract and retain qualified personnel; as well as other risks and uncertainties, including those detailed from time to time in Aspire's Securities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Aspire International, Inc.
Investor Relations
(905) 943-9996 x 230
ir@perfisans.com
“Stock Pick” Update
Sunergy, Inc. (BB: SNEY)
News Released Today!
Sunergy Petroleum Supply Update: “Ghana's 45,000 barrel-per-day Tema refinery has shut down due to a lack of crude oil supplies….” Reuters News
The implications behind today’s press release are of a blockbuster nature for Sunergy. If the Company helps secure a dependable source of oil for the Tema Oil Refinery as indicated in previous press releases, it will provide a steady and solid revenue stream to Sunergy. Although a deal is not done yet, the fact that Tema’s supplier has failed to deliver opens the door wide open for another supplier that Sunergy represents.
SNEY rallied to .14 per share recently, but has dropped again to about .04 to .05 per share. We love the price down here, and for some idiotic reason it drops further, we would probably buy every share possible. We will continue to monitor this situation very closely.
SCOTTSDALE, AZ - (MARKET WIRE) – April 15, 2010 – Sunergy, Inc (the "Company") (OTCBB:SNEY – News) reports that according to a Reuters News article published yesterday, Ghana's 45,000 barrel-per-day Tema refinery has shut down due to a lack of crude oil supplies, the managing director of the plant said on Tuesday. "We ran out of crude and had to shut down," said Tema Oil Refinery (TOR) Managing Director Kwame Ampofo. "This happened because a supplier we relied on very much disappointed us and could not deliver as expected."
The refinery has had operations problems due to financial woes that have made it difficult to buy crude cargoes, and was shuttered for much of 2009. Ampofo said the plant was most recently idled 10 days ago, and added he could not give a restart date. Ghana's government stepped in to ease TOR's debt burden last month by paying its main creditor, Ghana Commercial Bank (GCB.GH), some $316 million.
Further to its Press Releases, dated March 16, 2010 and April 7, 2010, that substantial progress has been made to secure a contract to supply 1,000,000 barrels of crude oil per month to the local (Tema- TOR) refinery, the above news highlights the difficulty Ghana has in securing reliable petroleum supplies to its only refinery. This event has accelerated the discussions at the refinery putting Sunergy and its Strategic Partner in the prime position to finalize the existing proposed contract which contemplates an initial term of 24 months, resulting in 24,000,000 barrels of crude oil to be delivered over the initial term. The second stage of discussion is the installation of some 3,000,000 barrels of crude oil and other petroleum product storage at the refinery location.
About Ghana Petroleum: Since 33.1 Billion barrels of proven offshore oil was discovered last year in the Gulf of Guinea of Ghana’s coast, there has been a flurry of activity between Exxon and The Chinese, to name a few majors in vying for position in the famous Jubilee field. The Ghanian government’s purported share of the discovery is 3.31 billion barrels (10%) over the next several years. Sunergy and our Partner offer a direct connection with expertise the financial ability to assist in the management and marketing of this petroleum over the next several years. This niche business represents substantial potential cash flow with little or no capital risk on our part.
About Sunergy:
The Company is an aggressive junior mining exploration and development Company that is production oriented at the earliest possible profitable opportunity. We control 100% of the 150 SQ. Km. Nyinahin mining concession with a full prospecting license. The concession is surrounded by several operating mines and is adjacent to Newmont Mining’s property. This concession has the Offin river flowing through our eastern portion and there are numerous artisan pits ready for testing and evaluation for near term production. The Offin river is known for good alluvial gold production. The Company is also involved in facilitating petroleum supplies to Ghana through its affiliation and strategic alliance with a Global Petroleum Trading and Supply company and plans to expand its petroleum influence.
Further information is available on the Company’s website www.sunergygold.com
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any mineralization, development or exploration of the Nyinahin Mining Concession.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact:
Karl A. Baum, President
Sunergy, Inc
949.244.1378 cell
480.477.5810 office
Investor Relations:
480.399.7222
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