Not a surprise whatsoever as I’ve been stating for the past few days that $FB is waaaaayyy too overvalued here.
I don’t mind trading the action given the volume and volatility we will see in the next few weeks …. but not a hold from here at these prices.
Underwriters now have a real problem on their hand by having to defend $38 …. and all the buying at that level came in from them …. but they can’t defend indefinitely.
Regards,
George
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Good morning to you all. Please find enclosed a summary of the breaking small-cap and micro-cap financial news we highlighted on AGORACOM Small Cap TV this morning. It’s May 16th, 2012, and we’ve found 2 great press releases to report on at the open. Another great day for small-cap and micro-cap financial news. To watch the show live every morning at 9:30 AM, visit our front page … or click on the image below.
Avion Achieves Record Production for the First Quarter of 2012 With Over 26,000 Ounces of Gold Produced and Revenues of $33 Million Achieved With Record Grades Encountered at Tabakoto
Avion Gold Corporation (TSX:AVR)(OTCQX:AVGCF) (“Avion” or the “Company”)
today announces its financial results for the first quarter ended March 31, 2012. All amounts are in United States dollars unless otherwise indicated.
Complete unaudited financial statements and the related Management’s Discussion and Analysis are available under the Company’s profile on www.sedar.com.
First Quarter Highlights:
About Avion Gold Corporation . Avion is a Canadian-based gold mining company focused in West Africa that holds 80% of the Tabakoto and Ségala gold projects in Mali. Gold production commenced at these projects in 2009 with approximately 51,290 ounces produced. 2010 production was 87,630 ounces of gold. 2011 production was 91,200 ounces of gold. The current mineral reserve estimate (as of January 1, 2012) of 6.91 million tonnes grading 3.73 g/t Au totaling 827,100 ounces of gold (proven and probable), for the Tabakoto project property, demonstrates several sources of excellent grade open pit and good grade underground mineral resources thus providing significant flexibility for Avion’s future mining plans.
Last: 0.485Range: 2.57-0.47Market Cap: 214 million
Patient Safety Technologies Reports First Quarter 2012 Results
Patient Safety Technologies, Inc. (the “Company,” OTCBB:PSTX, OTCQB:PSTX) today announced results for its first quarter of 2012 ended March 31st, 2012.
Total revenue for the first quarter of 2012 was $3.1 million. This compares with total revenue for the first quarter of 2011 of $2.0 million, representing year over year growth in reported quarterly revenue of 57%. First quarter of 2011 revenue of $2.0 million included approximately $0.6 million of revenue from filling a $10 million
Additionally, the Company ended the first quarter of 2012 with outstanding backorders of $1.2 million. This compares to outstanding backorders of approximately $0.3 million at the end of the fourth quarter of 2011.
During the first quarter of 2012 the Company generated an Adjusted Operating Loss (as defined below) of $0.7 million and a GAAP operating loss of $1.3 million. This compares with an Adjusted Operating Loss of $0.8 million and a GAAP operating loss of $0.8 million generated during the first quarter of 2011.
About Patient Safety Technologies, Inc. and SurgiCount Medical
Patient Safety Technologies, Inc., through its wholly-owned operating subsidiary SurgiCount Medical, Inc., provides the Safety-Sponge® System, a solution proven to improve patient safety and reduce healthcare costs by preventing one of the most common errors in surgery, retained foreign objects. For more information, contact SurgiCount Medical, Inc. at (949) 387-2277 or visit www.surgicountmedical.com.
Last Trade: 1.58 52 wEEK: 1.75– 0.82 Market Cap: 53.76 Million
Cross Border Announces First Quarter 2012 Financial Results
Cross Border Resources, Inc. (OTCQX: XBOR), (“Cross Border” or “the Company”), a San Antonio-based oil and gas exploration and production company, today announced its financial results for the first quarter ended March 31, 2012.
First Quarter 2012 Financial and Operating Highlights
Oil and gas revenues increased by 128% year-over-year to $3.6 million, up from $1.6 million in the first quarter of 2011.
Production volume totaled 41,477 barrels of oil equivalent (“boe”), an increase of 91% compared to 21,772 boe in the first quarter of 2011.
Average daily production sold during the first quarter of 2012 was 456 barrels of oil equivalent per day (“boepd”) compared to 242 boepd for the first quarter of 2011. The daily average sales rate for March 2012 was 750 boepd.
Adjusted EBITDA increased 277.4% year-over-year to $2.0 million, up from $0.5 million in the first quarter of 2011.
Operating income for the quarter ended March 31, 2012 amounted to $1.4 million as compared to an operating loss of $143,079 for the prior-year quarter.
Net income for the quarter ended March 31, 2012 was $658,145 as compared to a net loss of $154,916 for the same period in 2011. Net income per diluted share was $0.04 for the first quarter of 2012.
Cross Border Resources, Inc. is an oil and gas exploration company holding more than 868,000 gross (some 295,000 net) mineral and lease acres, located primarily in New Mexico. The company’s current operations focus on the prolific, multi-play/multi-pay Permian Basin, which offers Cross Border rapid-growth potential. The company seeks to become the premier, non-operated working interest owner in the Permian’s rapidly emerging, unconventional plays – in addition to participating in the basin’s well-established, conventional plays. Some 26,000 of Cross Border’s net acres lie within the Permian Basin.
Last Trade: 1.75 52 Week: 2.75 – 1.11 Market Cap: 28 Million
Good morning to you all. Please find enclosed a summary of the breaking small-cap and micro-cap financial news we highlighted on AGORACOM Small Cap TV this morning. It’s May 15th, 2012, and we’ve found 5 great press releases to report on at the open. Another great day for small-cap and micro-cap financial news. To watch the show live every morning at 9:30 AM, visit our front page … or click on the image below.
Outlook for the Year Ending December 31, 2012
Based on management’s current expectations, it is believed that revenue will be in the range of $40 million to $44 million, representing an approximate top line increase of 17% to 29% year over year.
About Nutrastar International Inc.
Nutrastar is a China based leading producer and supplier of premium branded consumer products including commercially cultivated Cordyceps Militaris, functional health beverages as well as specialty and organic foods. Cordyceps Militaris is one of the most highly regarded herbal nutrients in Traditional Chinese Medicine. The Company is headquartered in Harbin, capital of Heilongjiang Province, with 332 employees, including 21 in R&D, and 149 in sales and marketing. The products of Nutrastar are sold throughout China via a sales and distribution network that covers more than 10 provinces.
Last Trade: 1.80 52 Week: 3.39 – 1.42 Market Cap: 27.04 Million
Gold Horse International, Inc. Announces Results for Three Quarter Fiscal 2012
Gold Horse International, Inc., (OTC Bulletin Board: GHII) (“Gold Horse” or the “Company”), a multifaceted business group that controls and through the Jin Ma Companies operates a construction company, real estate development business and a hotel/banquet facility in Inner Mongolia, China, today announced its financial results for the nine months ended March 31, 2012.
The Third Quarter Fiscal Year 2012 Highlights
Net revenue increased 4.0% period-over-period to $37.6 million
Gross margin was 15.8% compared to 16.3% in the prior comparable period
Gross profit increased 0.4% period-over-period to $5.94 million
Income from operations was $4.6 million compared to income from operations of $4.2 million in the prior comparable period
Net income decreased 8.8% period-over-period to $3.4 million from $3.7 million
Adjusted net income excluding non-cash gains was $3.3 million, or $1.52 per fully diluted common share as compared to adjusted net income of $3.3 million, or $1.63 per fully diluted common share, in the prior comparable period
Results for Nine Months ended March 31, 2012
For the nine months ended March 31, 2012, net revenue was $37.6 million, up 4.0% from $36.2 million for the comparable period in fiscal 2011.
Gross profit for the nine months ended March 31, 2012 was $5.94 million with $5.92 million gross profit in the comparable 2011 period. Gross margin was 15.8%, down from 16.3% in the prior period.
Income from operations for the nine months ended March 31, 2012 was $4.6 million, up from $4.2 million from the comparable period in fiscal 2011. Operating margin for the nine months ended March 31, 2012 was 12.3% as compared to 11.6% in the comparable period in fiscal 2011.
The Company recorded net income of $3.4 million for the nine months ended March 31, 2012 as compared to net income of $3.7 million in the comparable period in fiscal 2011. Adjusted net income excluding non-cash gains was $3.3 million or $1.52 per fully diluted common share as compared to adjusted net income of $3.3 million or $1.63 per fully diluted common share for the 2011 period.
About Gold Horse International, Inc.
Gold Horse International, Inc., through its wholly owned subsidiaries, Gold Horse International, Inc. (Nevada) and Global Rise International Ltd., controls and operates its variable interest entities Inner Mongolia Jin Ma Construction Co., Ltd., Inner Mongolia Jin Ma Hotel Co., Ltd., and Inner Mongolia Jin Ma Real Estate Development Co., Ltd., all based in Hohhot, the regional capital of Inner Mongolia Autonomous Region in China. Jin Ma Construction has been providing construction and general contractor services in Hohhot to both private developers and to the local and regional governments since 1980.
Last Trade: 0.92 52 Week: 2.74 – 0.12 Market Cap: 2.03 Million
China Modern Net Income Increases 149% and Announces $0.31 EPS for the First Nine Months of Fiscal 2012
China Modern Agricultural Information Inc. (“the Company,” “China Modern”) (OTCBB: CMCI), a high-tech livestock company specializing in the breeding of cows and calves, the production and sale of milk and the sale of organic fertilizer, today announced the financial results for the 2012 fiscal third quarter and first nine months ended March 31st, 2012
2012 Fiscal First Nine Months (USD) (unaudited)
—————————————————————————-
Nine Months End March 31,20122011CHANGE
—————————————————————————-
Revenue$19.5 million$17.2 million13%
—————————————————————————-
Gross Profit$13.0 million$8.5 million52%
—————————————————————————-
Gross Profit Margin67%50%34%
—————————————————————————-
Net Income$14.0 million$5.7 million149%
—————————————————————————-
Basic and diluted EPS*$0.31$0.14121%
—————————————————————————-
* Based on 45 million and 40 million shares outstanding for 2012 and 2011
fiscal first nine months, respectively.
China Modern Agricultural Information, Inc., through its subsidiaries, operates as a livestock company that principally engages in the breeding of cows and calves principally in China. It also involves in the production and sale of milk, the sale of organic fertilizers, and the promotion of agricultural information. The company is based in Harbin, China.
Last Trade: 0.51552 Week: 2.00 – 0.17Market Cap: 25.8 Million
SNAP Interactive Reports Results for the Quarter Ended March 31, 2012
SNAP Interactive, Inc. (“SNAP” or the “Company”) (OTCBB: STVI), a leading social application developer, today announced record quarterly revenues of $5.7 million for its first quarter ended March 31, 2012.
Unaudited First Quarter Results
Quarterly revenue increased 54 percent to $5.7 million compared to $3.7 million for the comparable period in 2011;
Net loss for the quarter increased to $1.7 million compared to a net loss of $0.9 million for the comparable period in 2011;
Increased mobile engagement to 15% of all unique logins during March 2012 from 13% in December 2011; and
Deferred revenue increased 9 percent to $3.4 million at March 31, 2012 compared to $3.1 million at December 31, 2011;
Diluted loss per share for the quarter was $0.04 compared to a loss of $0.02 for the comparable period in 2011; and
SNAP’s balance sheet position continues to be strong, with $7.4 million of available sources of liquidity (includes cash and cash equivalents plus investments) at March 31, 2012.
|
First Quarter 2012 |
$ 5.7 million |
|
Fourth Quarter 2011 |
$ 5.5 million |
|
Third Quarter 2011 |
$ 5.1 million |
|
Second Quarter 2011 |
$ 4.8 million |
|
First Quarter 2011 |
$ 3.7 million |
|
Fourth Quarter 2010 |
$ 2.8 million |
|
Third Quarter 2010 |
$ 1.7 million |
|
Second Quarter 2010 |
$ 1.2 million |
|
First Quarter 2010 |
$ 0.9 million |
SNAP Interactive, Inc. develops, owns and operates online dating and social networking applications for social networking websites and mobile platforms. SNAP’s flagship brand, AreYouInterested.com®, is one of the largest social dating applications on the Internet with over 60 million installs, and offers a completely integrated Facebook, iPhone, Android and Web application.
Last Trade: 1.81 52 Week: 2.99 – 0.48 Market Cap: 79.15 Million
SilverCrest Reports Q1 2012 Financial Results; Cash Flow from Operations of $12.2 Million ($0.14 Per Share)
SilverCrest Mines Inc. (the “Company”) (TSX VENTURE:SVL) (OTCQX:STVZF) (PINKSHEETS:STVZF)
is pleased to announce its financial results for the first quarter ended March 31, 2012 (all figures in U.S. dollars unless otherwise specified.)
Q1 2012 FINANCIAL HIGHLIGHTS :
|
• |
Cash flow from operations (1) |
$12.2 million ($0.14 per share) |
|
|
• |
Cash operating cost per silver equivalent ounce sold (2) |
$7.00 |
|
|
• |
Revenues reported – IFRS (3) |
$19.6 million |
|
|
• |
Comprehensive earnings |
$6.3 million ($0.07 per share) |
|
|
• |
Cash, cash equivalents and short term investments |
$36.5 million (at March 31, 2012) |
J. Scott Drever, President stated; “We had an excellent beginning for 2012. In Q1 we sold 641,546 silver equivalent ounces, with an average cash operating costs of $7.00 per ounce. The Santa Elena open pit heap leach mine operations continue to perform well and generated cash flows of $12.2 million which will help finance the Santa Elena Expansion plan to double metals production by 2014 and accelerate the exploration and development of our polymetallic La Joya Project. During the first quarter, total production was consistent with our plan and cash operating costs were below plan. As a result, we are confident in achieving our 2012 guidance of production of 435,000 silver ounces and 33,000 gold ounces at an average cash operating cost of $8.20 per silver equivalent ounce.”
About the company
SilverCrest Mines Inc. is a Mexican precious metals producer with headquarters based in Vancouver, BC. SilverCrest’s flagship property is the 100%-owned Santa Elena Mine, which is located 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, México. The mine is a high-grade, epithermal gold and silver producer, with an estimated life of mine cash cost of US$8 per ounce of silver equivalent (55:1 Ag:Au). SilverCrest anticipates that the 2,500 tonnes per day facility should recover approximately 4,805,000 ounces of silver and 179,000 ounces of gold over the 6.5 year life of the open pit phase of the Santa Elena Mine. A three year expansion plan is underway to double metals production at the Santa Elena Mine and exploration programs are rapidly advancing the definition of a large polymetallic deposit at the La Joya property in Durango, Mexico.
Last: 1.87Range: 3.17-1.07Market Cap: 167 million
JAKARTA, Indonesia, May 15, 2012 — Continental Energy Corporation (OTCBB: CPPXF) (the “Company”) an emerging international energy company, today announced that it has entered into a Joint Study and Bid Group agreement with CBM Asia Development Corp. (“CBM Asia”).
CBM Asia (TSX.V:TCF) (www.cbmasia.com ), a Canadian-listed coalbed methane (“CBM”) company focused solely on the Indonesian CBM industry and with interests in four CBM production sharing contracts (“PSC”) is pursuing new CBM opportunities in Indonesia. Under the agreement, Continental and CBM Asia will jointly and exclusively study selected areas in Indonesia with the objective of identifying geologically justified candidate areas to be jointly pursued as targets of opportunity for direct acquisition of CBM PSCs offered by the Indonesian government through public tenders or through direct proposal tenders conducted under joint study arrangements.
Successful CBM PSC acquisitions shall be shared by Continental and CBM Asia under a pre-agreed joint operating agreement (“JOA”) format in the participating interest proportions 75% CBM Asia and 25% Continental. CBM Asia shall act as operator under the JOA and any CBM PSC and shall pay 100% of the JOA’s CBM PSC general and administrative costs. All CBM PSC acquisition costs and other JOA exploration and drilling costs shall be borne by the parties in proportion to their respective JOA participating interests.
According to MIGAS, the oil and gas division of Indonesia’s Ministry of Energy, gas production from CBM is expected to contribute to the country’s efforts in boosting its declining gas output. Indonesia has the world’s second largest CBM reserves after China, with total potential reserves of 453 trillion cubic feet, twice that of its estimated conventional natural gas resources. In order to promote CBM development, the Indonesian Government has prepared some new incentives and streamlined CBM working area applications. Foremost among these incentives is a favorable production sharing split for the contractor of 45% for CBM gas as opposed to the 30% conventional PSC operators receive for gas. A tax holiday incentive is also being considered for CBM gas.
Continental’s CEO, Richard McAdoo stated, “This agreement with CBM Asia is the first step along a planned path of expansion into the unconventional oil and gas sector in Indonesia which is pushing increased gas production by any means, largely to fuel a chronic under capacity of electrical power generation. We intend to leverage our long history of oil and gas operating experience in Indonesia with a far reaching understanding and knowledge of the geology of Indonesia into the CBM sector. We are pleased to have CBM Asia, a leading CBM developer and operator, as our operating partner in this expansion. I am confident we will make a good team, as we each bring a strong competitive advantage to the table.”
CBM Asia’s President and CEO, Al Charuk, added, “We are very excited to enter into a CBM agreement with Continental Energy Corporation which like ourselves is Indonesian focused. Continental’s management and technical teams have extensive geological knowledge underpinning potential CBM opportunities as well as operating experience required for surface operations. We have identified several areas of interest which we and our new partner will be actively pursuing in the near future.”
On behalf of the Company,Robert V. Rudman, C.A.Chief Financial Officer
Further Info:www.continentalenergy.com http://agoracom.com/ir/continentalenergy
No securities regulatory authority has either approved or disapproved the contents of this news release.
Statements in this news release that are not historical are forward looking statements. Certain matters discussed within this press release may be forward-looking statements within the meaning of the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. Although Continental believes the expectations reflected in such forward-looking statements including reserves estimates, production forecasts, feasibility reports and economic evaluations are based on reasonable expectations and assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include financial performance, oil and gas prices, drilling program results, regulatory changes, political risk, terrorism, changes in local or national economic conditions and other risk detailed from time to time in Continental’s periodic filings with the US Securities Exchange Commission. Readers should also refer to the risk disclosures outlined in disclosure documents filed by other early stage energy and environmental companies with the Securities and Exchange Commission available at www.sec.gov.
The Company assumes no obligation to update the information in this release.
SOURCE Continental Energy Corporation
For further information: Robert Rudman, CFO, +1-561-779-9202, rrudman@continentalenergy.com or AGORACOM cppxf@agoracom.com