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OTCPicks.com: OTCPicks.com Daily Market Movers Digest Midday Report
for September 18th ZPNW, ENEI, RPDI, SWVC, NWGN, VTEC
(M2 PressWIRE Via Thomson Dialog NewsEdge)
RDATE:18092007
Our Stocks to Watch today include Zippi Networks Inc. (OTC: ZPNW) Ener1
Inc. (OTCBB: ENEI), Rapid Fitness Inc. (OTC: RPDI), Seaway Valley
Capital Corp. (OTCBB: SWVC), NewGen Technologies Inc. (OTCBB: NWGN),
VTEC Inc. (OTC: VTEC)
ZIPPI NETWORKS INC. (OTC: ZPNW)
Detailed Quote: http://www.otcpicks.com/quotes/ZPNW.php
Company Profile: http://www.otcpicks.com/profiles/zpnw/index.php
Zippi Networks, Inc., arms a new generation of online sellers with the
advanced tools and strategies to free themselves from shrinking
profits, unnecessary competition, a dwindling number of unique items to
merchandise, and inventory overhead. The industry's first one-call
1-877-GO-ZIPPI pickup-and-sell service, advanced technology and a
revolutionary business model (patents pending) allow Zippi to simplify
the process so much that anyone can sell online and earn the cash they
deserve. At the same time, professional tools - such as the industry's
first enterprise-level palmtop device for completely integrated
anywhere/anytime online selling - along with a supportive network and
infrastructure, simplify the "leap" to becoming a successful online
sales entrepreneur.
ZPNW News:
September 17 - Zippi(TM) Networks Launches Aggressive Cable TV Ad
Campaign
Zippi Networks, Inc. (OTC:ZPNW), the innovative force empowering a new
generation of online sellers, recently announced an expansive cable
network advertising campaign scheduled for the next four weeks on the
Fox News Channel, CNN, CNBC, Bloomberg Television, MSNBC, the Weather
Channel, and TV Guide. Zippi's 30-second spots, placed on the seven top
national news and information channels in an estimated 300 DIRECTV
markets, will appear on popular business shows during CNBC's primetime
programming and the morning "Squawk Box."
Commercial spot appearances on CNBC alone will send Zippi's message to
an estimated 95 million viewers across North America. The soonest
airing of the Zippi spot on CNBC's Squawk Box is expected on Wed.,
Sept. 19, at 7:18 am ET, and during primetime programming on Thurs.,
Sept. 27, at 9:57 pm ET. The Zippi advertising campaign is also
scheduled to include airings during all domestic JetBlue Airways
flights.
"It is crucial that Zippi reach those independent-minded entrepreneurs
and entrepreneurs-to-be who can best take advantage of our completely
new commission-based online auction business model," said Zippi CEO
Robert A. Rositano, Jr. "At one airing per network per week, we expect
about 8,400 airings of the Zippi spot to entice our target audience to
give us a call to learn how they can obtain the leads, unique tools,
and support that give them control over their earnings as a Zippi
Affiliate."
Hosted by actress McKenzie Westmore from NBC's hit daytime drama
"Passions", Zippi's 30-second spot illustrates the Zippi "clutter out.
cash in." process and gives Zippi management and partners a quick forum
to explain the impact of this new online sales force.
ENER1 INC (OTCBB: ENEI) "Up 37.40% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/ENEI.php
Ener1, Inc. (OTC Bulletin Board: ENEI) is an alternative energy
technology company that is developing 1) lithium ion batteries for
hybrid electric vehicles (HEV) at its 80.5% owned EnerDel subsidiary,
2) commercial fuel cell products through its EnerFuel subsidiary, and
3) nanotechnology-based materials and manufacturing processes for
batteries and other applications at its NanoEner subsidiary. For more
information, visit http://www.ener1.com or call 954-556-4020.
ENEI News:
September 18 - USABC Awards $6.5 Million Battery Technology Development
Contract to Ener1's EnerDel Subsidiary
Ener1, Inc. (OTCBB: ENEI), an alternative energy company, announced
that its EnerDel subsidiary was awarded a lithium-ion battery
technology development contract from the United States Advanced Battery
Consortium (USABC), an organization whose members are Chrysler LLC,
Ford Motor Company and General Motors Corporation.
USABC awarded the contract in collaboration with the U.S. Department of
Energy (DOE) to develop lithium-ion battery technology for
hybrid-electric vehicle applications. The 18-month contract, valued at
$6.5 million, is the second of a three-phase USABC program and requires
a 50 percent cost share. EnerDel successfully completed Phase I in June.
Under the full three-phase program, EnerDel is working to develop a
fully integrated battery system for use in hybrid vehicle applications.
The USABC program aims to produce a cost-competitive, lithium ion
battery that is lighter, smaller and higher in power than existing
battery technologies for hybrid electric vehicles.
EnerDel's Phase II contract involves development focused on scaling up
to a production caliber cell, extensive lifetime testing and
evaluation, as well as demonstrating the technology in battery modules.
'We are pleased to award this contract to EnerDel as part of USABC's
battery technology research and development program,' said Don
Walkowicz, executive director of USCAR. 'The program is essential to
advancing the goals of the FreedomCAR and Fuel Partnership, yielding
both near and long-term benefits for hybrid-electric and
hydrogen-fueled transportation.'
RAPID FITNESS INC (OTC: RPDI) "Up 6.67% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/RPDI.php
Rapid Fitness is an upscale, yet simple, approach to women's fitness
and health. Rapid Fitness supports a lifestyle of fitness, fun, health
and friendships! Rapid Fitness caters to women of all ages, life styles
and fitness levels. Rapid Fitness Centers stand above the rest by
providing Circuit Training, Group Exercise Classes, Personal Training,
Indoor Tanning, Massage Therapy and supervised child care. Rapid
Fitness For Women On The Go's approach is unique and individual. Each
member can feel confident that she will achieve her fitness and health
goals.
RPDI News:
September 18 - Rapid Fitness, Inc. Announces Merger and Nine Figure
Capital Contribution
Rapid Fitness, Inc. (OTC: RPDI), a publicly traded company currently on
the Over the Counter, announces Merger/Capital Contribution by and
between Duxplore Inc, Pegasus Capital Group SA and Rapid Fitness, Inc.
Duxplore Inc, a Nevada Corporation, together with Pegasus Capital Group
SA, a Panama Corporation, has confirmed that they have agreed to a
merger with Rapid Fitness and/or deposit with Rapid Fitness, Inc., as a
capital contribution, an amount no less than $173,000,000.00 (one
hundred seventy three million USD). The exact terms, conditions and
details of the capital contribution and/or merger with Rapid Fitness,
Inc. shall be disclosed upon finalization of negotiations.
CEO Anthony Mellone stated: "The Board of Directors was very pleased
with this merger. Combining our forces with Duxplore Inc and Pegasus
Capital Group SA shall give Rapid Fitness, Inc. the ability to build a
stronger platform thus allowing Rapid Fitness, Inc. to excel rapidly.
We shall begin to change the structure of the company together in a
positive way and will proceed forward with our business plans. Plans
are currently being reviewed to build an International fitness center
resort."
SEAWAY VALLEY CAPITAL CORP (OTCBB: SWVC) "Up 29.17% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/SWVC.php
Seaway Valley Capital Corporation was formed in 2002 and makes equity,
equity-related, and debt investments in companies that require
expansion capital and in companies pursuing acquisition strategies.
Seaway also seeks investments in leveraged buyouts and restructurings.
Seaway will consider investment opportunities in a number of different
industries, including retail, restaurants, media, business services,
and manufacturing, and Seaway will also consider select technology
investments.
SWVC News:
September 18 - Seaway Valley Capital Corporation Releases Acquisition
Update
Seaway Valley Capital Corporation (OTCBB: SWVC) chairman and chief
executive officer, Thomas W. Scozzafava, issued the following update to
its shareholders today:
I am pleased to update you on the progress of WiseBuys Stores, Inc.
("WiseBuys"), including its pending acquisition of Patrick Hackett
Hardware Company ("Hacketts").
As previously communicated, Seaway Valley Capital Corporation
("Seaway") is expecting to merge 100% of WiseBuys Stores, Inc. into
Seaway shortly. The recent modifications in the merger structure have
necessitated an amendment to WiseBuys' certificate of designation with
the State of Delaware as well as a shareholder vote at WiseBuys, which
has taken some additional and unexpected time. It should be noted that
81% of the WiseBuys shareholders previously agreed to the transaction
when it was structured as a simple acquisition, and that 70% have
already expressed their support of the revised merger structure because
of its favorable tax treatment. We anticipate finalization these
amendments and an affirmative shareholder vote at WiseBuys this month.
Immediately thereafter, we will close the merger and trigger the
release of the audited financials in the 8K. WiseBuys and its partners
generated store-wide sales and trading revenues of approximately $12.5
million in 2006, and WiseBuys alone generated "Comprehensive Income" in
2006 of just under $1,000,000. In 2006, WiseBuys and its partners
together generated sales per square foot of approximately $53 per foot
on WiseBuys' 190,000 square feet of sales floor.
In addition, WiseBuys is pleased to announce that it has received a
commitment for sufficient financing to close WiseBuys' pending
acquisition of Hacketts. This financing will not involve the issuance
of new debt or equity, but rather the sale of certain of WiseBuys'
non-strategic assets. Hacketts' reviewed financial statements disclosed
2006 sales and earnings of $13.1 million and $141,000, respectively.
These full year results include only about 45 days of operations in its
newest store located in Watertown, NY, which opened in November of
2006. Hacketts' sales per square foot average over $100 per foot on its
144,000 square feet of sales floor space. After completing the
acquisition, WiseBuys intends to convert its stores to the "Hacketts"
brand so that all 334,000 square feet of selling space is consistently
merchandised and operated. Our intention is to close the Hacketts
acquisition on or before November 30, 2007 and to invest aggressively
in the growth of the Hacketts brand throughout the region.
Finally, many of you have asked whether or not Seaway will exclusively
focus on supporting the growth and development of its retail
investments during 2007 and 2008 - know that Seaway is currently
evaluating additional investments and acquisitions in a diverse array
of sectors. Our plan is to complete at least one substantial non-retail
investment prior to year end.
NEWGEN TECHNOLOGIES (OTCBB: NWGN) "Up 20% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/NWGN.php
NewGen's strategic business plan enables the Company and its
subsidiaries to become a leading global fully integrated
"Fields-to-Wheels" manufacturer, blender, supplier, and distributor of
premium biofuels and petroleum blends that dramatically reduce the
environmental and economic impacts of world transportation fuel
consumption. NewGen believes it has developed a slate of high-quality
fuel products by utilizing technologies that allow for more complete
fuel combustion, reduced emissions and the means to deliver them to the
customer at the best possible price.
NWGN News:
September 14 - NewGen Announces Completion of Definitive Strategic
Consulting Agreement with APPCO
NewGen Technologies, Inc. ("NewGen") (OTCBB: NWGN) announced recently
that it and Titan Global Holdings, Inc. ("Titan") completed a
definitive Consulting Agreement which will become effective upon
Titan's acquisition of Appalachian Oil Company ("APPCO"), the final
closing of which is scheduled to occur within 72 hours. NewGen had
previously announced this consulting agreement on July 25, 2007.
"NewGen is strategically positioned to be the leader in renewable and
environmentally friendly biofuel supply and distribution from our own
fuel terminals out to wholesale and retail under one umbrella in the
Southeastern United States," said NewGen Chairman and CEO Bruce Wunner.
"The completed agreements provide us with ongoing revenue and the
exclusive right to supply biofuels long-term to APPCO, which was a
synergy we sought at the time we initially bid for APPCO. We believe
this strategic relationship with Titan and APPCO will benefit NewGen,
ReFuel America and our shareholders."
Wunner added, "NewGen plans to capitalize on APPCO's existing extensive
distribution network of more than 160 locations and its 80 years of
operational expertise. NewGen will now aggressively focus on the ReFuel
America fuel terminal revitalization, expansion and upgrades to also
facilitate blended biofuels, including ethanol and biodiesel, as well
as premium gasoline and diesel fuel distribution initially into the
Charlotte, NC, Spartanburg, SC and Columbus, GA markets, as well as
other target markets in the Southeastern U.S."
VTEC INC (OTC: VTEC) "Up 22.50% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/VTEC.php
VTEC, Inc., www.vtecinc.net, was formed to acquire and create unique
internet and retail enterprises that offer but are not limited to the
expedited access to entertainment, food, financial services, travel,
learning, news and targeted information, as well as innovative,
intuitive consumer products through e-commerce. The company's wholly
owned subsidiaries include Look Media, Inc. www.lookcartoons.com, Pizza
Holdings, Inc. www.pizza.net , and Made in USA Group, Inc.
www.madeinusamag.com.
VTEC News:
September 17 - VTEC Inc. (VTEC) Acquires Made in USA Group, Inc. and
Its Flagship Publication, Made in USA Magazine
VTEC, Inc. (OTC: VTEC), an acquisitions firm specializing in Internet
properties, has acquired Made in USA Group, Inc., a Florida corporation
that promotes American-made products and services through various
mediums.
Made in USA Group, Inc. publishes Made in USA Magazine,
www.madeinusamag.com, a quarterly publication that strives to educate
and inform American consumers of the many benefits of buying American,
and helps families more easily find American-made products and
services. The magazine features both print and online editions.
Serious problems with the quality of imported Chinese goods have
underscored the importance of Made in USA's mission. In recent months,
a wide-range of Chinese-made products have been the subject of global
product recalls, including fake, untested and tainted pharmaceuticals,
children's jewelry containing toxic lead paint, melamine-tainted dog
food, defective tires, toothpaste laced with chemicals found in
antifreeze and brake fluid, misidentified and potentially toxic
seafood, and toys that posed significant choking hazard or unsafe and
potentially toxic amounts of lead.
The United States' ongoing dependence on imported goods, a widening
trade deficit and the dangers posed by lax foreign manufacturing
regulations can all have serious implications for American workers and
the U.S. and world economies.
"Made in USA Group, Inc. is providing the American consumer with
information to make smarter buying choices," said VTEC, Inc. chief
executive officer Julie Reiser. "The American dream is embodied in
farming and manufacturing. Farming and manufacturing are what made this
country the strongest in the world. When we buy from places like China
and other nations, we shift our strength to them. We need to spend our
money on our future and protect the American dream for our children."
With this acquisition, VTEC, Inc. further diversifies its portfolio of
companies and Internet properties. Made in USA Group, Inc. joins VTEC's
other wholly owned subsidiaries: Look Media, Inc.,
www.lookcartoons.com, which focuses on entertainment products for
families, and Pizza Holdings, Inc., www.pizza.net, which offers
expedited access to food choices through its searchable database of
over 65,000 pizzerias nationwide.
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