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MARKET RECAP
4/1/10 - Market Micro Recap For Week Of 3/29/10
The OTC companies tracked by PennyProfits moved up this past week, pushing the average stock price 0.3953% to the upside. Fully updated companies now numbers 4423, with the full database hovering at 6,503. See below for several headlines, which moved stocks.
Fortress Financial Group, Inc. (FFGO) confirms that it has received a new "draw down" line of credit in the amount of US$500,000; effective immediately. This Credit Line is unsecured and bears interest at the rate of 12% per annum. This credit facility is short term and is due and payable on March 30, 2011. This Credit Line allows the Company to settle immediate term Creditors, Loans and to continue to fund the costs of the Professional Advisors whom are assisting the Company in the sale of its Gold Interests. Additional sums will be expended upon day to day operational costs and to remunerate the new Corporate Communications Director being appointed.
Green Bridge Industries, Inc. (GRBG) is pleased to announce that the Company has increased its total assets for the second half of 2009 by over $1 Million due to various key acquisitions, in the multi-billion dollar "green" industry, made by the Green Bridge Industries in the later part of the year. The Company reported a 337% increase in total assets for the period ending December 31, 2009 versus the first half of the year. Green Bridge Industries posted its year ending December 31, 2009 financial statements on PinkSheets.com (http://www.pinksheets.com/pink/quote/quote.jsp?symbol=GRBG). The Company reported $1,469,127 in total assets for the period ending December 31, 2009 as compared to $296,760 in period ending June 30, 2009.
Cord Blood America, Inc. (CBAI), the umbilical cord blood stem cell preservation company (http://www.cordblood-america.com ) focused on bringing the life saving potential of stem cells, a biological insurance policy, to families nationwide and internationally, announced that it is a sponsor of the 2010 Brodie Golf Classic Charity Invitational on April 19th at La Quinta County Club, California.
Location Based Technologies, Inc. (LBAS), a leading-edge service provider of personal, pet and asset location devices, today announced it received confirmation of PCS Type Certification Review Board (PTCRB) laboratory completion and approval for both its PocketFinderŽ and PetFinderŽ devices.
Radiant Logistics, Inc. (RLGT), a domestic and international freight forwarding and logistics services company, reported that it had amended and extended its secured credit facility with Bank of America, N.A. (the "Facility"). The Facility has been extended to March 31, 2012. As amended and including availability for Company letters of credit, the Facility has been increased from $15 million to $20 million. In addition, the Company's financial covenants have been modified to increase allowable advances from 3.25x to 4.0x the Company's consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) as measured on a rolling four quarter basis. Advances under the Facility are available to fund future acquisitions, capital expenditures or for other corporate purposes, including the repurchase of the Company's stock. The Facility is collateralized by accounts receivable and other assets of the Company and its subsidiaries and provides for advances of up to 80% of eligible domestic accounts receivable and for advances of up to 60% of eligible foreign accounts receivable.
Ultimate Sports, Inc. (USPS), a manufacturer and supplier to the recreational vehicle industry, announced today that the company has received a purchase order to supply Yamaha with an opening order of USI skis. The order will ship directly to Yamaha. Yamaha will use USI's skis to equip their snowmobiles for the coming season.
3/26/10 - Market Micro Recap For Week Of 3/22/10
3/19/10 - Market Micro Recap For Week Of 3/15/10
3/12/10 - Market Micro Recap For Week Of 3/8/10
3/5/10 - Market Micro Recap For Week Of 3/1/10
2/26/10 - Market Micro Recap For Week Of 2/22/10
