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M2 PRESSWIRE-January 26, 2009-Stockguru.com: Stocks to Watch for January 26, 2009 - MGWSF, WLSA, PATD, ADVR, ZAGG, and DKAM (C)1994-2009 M2 COMMUNICATIONS LTD
Our Stocks to Watch today include : MegaWest Energy Corp. (OTCBB: MGWSF), Wireless Age Communications, Inc. (OTCBB: WLSA), Patapsco Bancorp Inc. (OTCBB: PATD), Advanced Viral Research Corp. (OTCBB: ADVR), Zagg Incorporated (OTCBB: ZAGG), and Drinks Americas Holdings, Ltd. (OTCBB: DKAM)
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MegaWest Energy Corp. (OTCBB: MGWSF) Shares traded down 6.25% at $0.03
MegaWest owns or has the right to earn an interest in over 146,000 acres in Missouri, Kansas, Kentucky, Montana and Texas. MegaWest seeks to prove up significant resources and achieve production from its heavy oil properties through the application of new technical developments in the commercial thermal recovery of heavy oil.
MGWSF News Friday, MegaWest Energy announced that it has reorganized to strengthen its financial flexibility and to extend the time available for the company to benefit from future improvements to current market conditions. Mr. George T. Stapleton, II has resigned as CEO but will continue as Chairman of the Board and in this capacity will remain active in the Company without cash compensation. This change has been motivated primarily by Mr. Stapleton's desire to demonstrate his commitment to necessary cost reductions in these very difficult economic times.
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Wireless Age Communications, Inc. (OTCBB: WLSA) Shares stayed steady at $0.05
Wireless Age Communications, through its 99.7% owned subsidiary, Wireless Age Communications Ltd., is in the business of operating retail cellular and telecommunications outlets in cities in western Canada. Through its other wholly owned subsidiary, Wireless Source Distribution Ltd., the company distributes two-way radio products, wireless accessories and various battery and ancillary electronics products in Canada.
WLSA News Friday, Wireless Age Communications confirmed that on January 22, 2009, the Court of Queen's Bench for Saskatchewan, heard the challenge by Wireless Age of the Interim Receivership Order obtained by Saskatchewan Telecommunications ("SaskTel").
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Patapsco Bancorp Inc. (OTCBB: PATD) Shares traded down 3.03% at $3.20
Patapsco Bancorp, Inc. operates as the holding company for the Patapsco Bank that provides commercial banking services in Maryland. It generates various deposit instruments, including checking accounts, Christmas Club accounts, money market accounts, statement and passbook savings accounts, individual retirement accounts, and certificates of deposit. The company also provides single-family and multi-family residential real estate loans; small business loans and commercial lease finance transaction loans; residential and commercial construction loans, and land acquisition and development loans; commercial real estate loans; and consumer loans, including home improvement loans, home equity loans, loans secured by savings deposits and overdraft protection for checking accounts, and other consumer loans. In addition, through its subsidiaries, Patapsco Bancorp sells consumer investments. As of June 30, 2007, it operated through five full-service offices located in Dundalk, Parkville, Carney, Glen Arm, and Baltimore City in Maryland. The company was founded in 1910 and is headquartered in Dundalk, Maryland.
PATD News Friday, Patapsco Bancorp announced net losses of ($294,000) or ($0.16) fully diluted earnings per share for the six-months ended December 31, 2008 compared to earnings of $243,000 or $0.13 fully diluted earnings per share for the comparable period in the prior year. For the second quarter of the Company's fiscal year 2009, ended December 31, 2008 the Company announced a net loss of ($483,000) or ($.26) diluted earnings per share as compared to net income of $64,000 or $.03 diluted earnings per share for the prior year comparable period. The Company's results were negatively impacted by a higher provision for loan losses resulting from an increase in non-performing assets to 1.59% of total assets from 0.97% at June 30, 2008, elevated charge-offs in the consumer and equipment leasing portfolio and the difficult economic environment. The Company recorded provisions for loan losses of $1.3 million and $1.6 million in the three and six month periods ended December 31, 2008.
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Advanced Viral Research Corp. (OTCBB: ADVR) Shares stayed steady at $0.0026
Advanced Viral Research Corp. is a biopharmaceutical company dedicated to the discovery and development of small molecule anti-cancer drugs. Its initial compounds, AVR118 and AVR123, represent a new class of cytoprotective agent that targets, among other things, some of the most problematic symptoms associated with clinical cachexia or the so called wasting syndrome. In addition, AVR118 and AVR123 have also been shown to possess topical wound healing properties in animal models. Various degenerative conditions associated with cachexia such as cancer, HIV-AIDS and chronic inflammation are potential disease targets for AVR118 and AVR123 therapies.
ADVR News Friday, Advanced Viral Research announced that the Company has suspended operations due to the inability to secure financing. As a result of the suspension of operations and anticipated inability to pay debts as they will become due, the Company is in default under the transaction documents issued in conjunction with the secured convertible debentures to YA Global Investments, L.P. (f/k/a Cornell Capital Partners L.P.) ("YA Global"). Under the debentures and transaction documents, upon an event of default, YA Global, among other things, has the right to (i) accelerate all amounts of principal and interest outstanding under the debentures; and (ii) enforce its security interest in the assets securing the Company's obligations arising under the debentures and transaction documents. ADVR is indebted to YA Global under the debentures and transaction documents in the outstanding principal amount of $1,952,000 plus accrued and unpaid interest of approximately $220,000 (the "Amounts"). The Company currently does not have sufficient cash resources to pay the Amounts nor does it have any agreements, agreements in principle or understandings to acquire sufficient cash resources to pay the Amounts.
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Zagg Incorporated (OTCBB: ZAGG) Shares traded up 5.88% at %0.99
ZAGG Inc. designs, manufactures, and distributes protective clear coverings and accessories for consumer electronic and hand-held devices worldwide under the brand names invisibleSHIELD and ZAGGaudio. The invisibleSHIELD is a protective, high-tech patented film covering, designed for iPods, laptops, cell phones, digital cameras, PDAs, watch faces, GPS systems, gaming devices and other items. The patent-pending invisibleSHIELD application of clear protective film covering a device is the first scratch protection solution of its kind on the market, and has sold millions of units. Currently, ZAGG offers over 2,500 precision pre-cut designs with a lifetime replacement warranty through online channels, big box retailers like Best Buy, resellers, college bookstores, Mac stores and mall kiosks. The company continues to increase its product lines to offer additional electronic accessories to its tech-savvy customer base, as well as an expanded array of invisibleSHIELD products for other industries.
ZAGG News Friday, ZAGG has been named "Company of the Month" in the January 2009 edition of The Bowser Report. The monthly subscription-based newsletter highlights small-cap stocks trading at $3.00 or less. "We are familiar with The Bowser Report's careful analysis of profiled stocks, and it is an honor to be selected as their Company of the Month," said Robert G. Pedersen II, President and CEO of ZAGG. "ZAGG is quickly gaining notoriety on a national basis by continuing to execute on a proven business plan, and delivering extraordinary sales growth and profitability during these turbulent economic times. ZAGG's future is very bright, and we expect to continue to enjoy strong revenue growth and continued profitability. As we continue to introduce new products and services, ZAGG will be recognized as a leader in the electronics industry for many years to come."
Drinks Americas Holdings, Ltd. (OTCBB: DKAM) Shares traded up 4.17% at $0.25
Drinks Americas was founded in 2004 by J. Patrick Kenny, a leading expert in beverage sales and marketing. Drinks Americas develops, owns, markets, and nationally distributes alcoholic and non-alcoholic premium beverages associated with renowned icon celebrities. Drinks Americas' portfolio of premium alcoholic beverages includes Donald Trump's award winning Trump Super Premium Vodka and Willie Nelson's Old Whiskey River Bourbon. The Company's non-alcoholic brands include the distribution of Paul Newman's Own Lightly Sparkling Fruit Juice Drinks and Flavored Waters. Drinks Americas recently formed a joint venture with Interscope Geffen A&M Records to develop and market beverage products, and in a separate venture, is partnering with Kid Rock to launch an American style beer.
DKAM News Friday, Drinks Americas Holdings announced key additions to its sales and marketing team who are expected to play key roles in the expansion of Drinks business outlined in the companies recent letter to shareholders. Drinks Americas is adding executives who's prior professional careers draw from Seagram, Jim Beam and Brown Forman. Drinks Americas markets iconic beverages including Trump Super Premium Vodka, Willie Nelson's Old Whiskey River Bourbon, Paul Newman's Sparkling Fruit Juice Drinks, and a variety of premium spirits brands. The Company recently purchased Olifant Vodka, and is currently bringing to market Leyrat Cognac, a new sparkling vodka, and beer in partnership with Kid Rock's new American Badass Beer Company. All these products will be introduced in the coming months in partnership with Drinks Americas' strategic music and entertainment partners.
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