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http://ymlp227.net/zp4NOH ——————————————————————————– November 18, 2012 Week In Review…
Week In Review For November 12 to November 16, 2012 Canadian Technical Penny Stocks To Watch This Week:
* Lake Shore Gold Corp. (TSX:LSG) * Horizons BetaPro COMEX Silver Bear Plus ETF (TSX:HZD) U.S. Technical Penny Stocks To Watch This Week:
* Article Published, November 13, 2012: Clearwater Seafood Posts Record Revenues in Third Quarter (http://www.allpennystocks.com/aps_ca/special-reports/308/clearwater-seafood-posts-record-revenues-in-third-quarter.htm) (CDN Company) * Article Published, November 14, 2012: ScripsAmerica to Benefit from Growing Generic Drug Industry and New Contract for Marlex (http://www.allpennystocks.com/aps_us/special-reports/309/scripsamerica-to-benefit-from-growing-generic-drug-industry-and-new-contract-for-marlex.htm) (U.S. Company) * Article Published, November 16, 2012: Another Tier One Partnering Possibility Draws Closer for EnWave Corp (http://www.allpennystocks.com/aps_ca/special-reports/309/another-tier-one-partnering-possibility-draws-closer-for-enwave-corp.htm) (CDN Company) Video charts for the week:
* November 13th Technical Video Chart For PT:CNX. The Pacific Therapeutics chart has made a higher low since bottoming in June at 7 cents. A strong support is holding at 10 cents with the first signs of resistance about 50 percent away at 17 cents before any further resistance at 20 cents. view:
( http://www.youtube.com/user/AllPennyStocks#p/a/u/1/9AX4F1Te6Rg ).
* November 14th Technical Video Chart For MFG. The Mizuho Financial chart is sitting on an historic support level around $3.00 that represents the lower part of a channel. A move off support could once again signal a move towards the upper channel at $3.40.
view: ( http://www.youtube.com/user/AllPennyStocks#p/a/u/1/CR6kdATyf4w).
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WEEKLY UPDATE -MARKETS CONTINUE SOUTHWARD PLIGHT IN POST-ELECTION SELL-OFF Stocks started the week flat as investors and Washington, D.C. turned their attention to the nearing of the so-called “fiscal cliff” that is coming at the start of 2013 and will trigger $600 billion in spending cuts and tax hikes should Capitol Hill not figure-out a way to come to terms. Washington dominated market sentiment in general this past week with the fiscal cliff and economic data that was generally worse than expected shoving equities lower all week until news finally hit on Friday that President Barack Obama and Congress met with reports saying that the two had finally seen some common ground.
Overseas, a report from China the previous weekend showed export growth rising to a five-month high above 11 percent, far surpassing estimates and adding to recent data indicating a possible end to seven straight quarters of slowing.
That optimistic information, however, was offset by a report from Eurostat, the official statistics agency of the European Union, that gross domestic product in the 17-nation euro zone fell by 0.1 percent in the third quarter, following a drop of 0.2 percent in the second quarter. The two consecutive quarters of contracting GDP puts the euro zone officially back into a recession. Germany, the largest economy in the euro zone, also triggered market worries about growth.
Although the country`s economy grew by 0.2 percent in the latest quarter, the growth rate has shriveled from 0.5 percent in Q1 to 0.3 percent in Q2 to now only 0.2 percent in Q3.
Foreign ministers are once again conducting meetings related to bailout funds for Greece and Spain. Data last week from Greece showed that the embattled country underwent its 17th straight quarter of GDP contraction.
Gross domestic product in Japan also remained soft with a 0.9 percent contraction in the third quarter.
Stateside, economic data regularly missed economist projections as the effects of superstorm Sandy coming ashore on October 29 and demolishing areas of the East Coast rattled statistics and the markets. Because there were millions of businesses and people without power, shelter or transportation, reporting for many items were estimated or flat-out delayed in recent weeks. As the complete stats are tabulated, jobless claims soared and the manufacturing sector was more hard hit than originally thought. Retail sales also dropped more than expected, sparking concerns about the upcoming holiday shopping season.
With unfavorable data flowing on the state of economies from two of the Three Horsemen of Global Growth (China, US and EU), investors were headed quickly to the sidelines and taking cash positions with risk-aversive strategies in full force.
In previous months, investors had been narrowly-focused on quantitative easing and the presidential election in the US. Now that QE3 is churning each month, Operation Twist is ongoing and the elections all over, the dark cloud of the fiscal cliff and lethargic economies has smacked the markets in the face. Friday saw the biggest one-day climb for the Dow Jones Industrial Average since the elections, with a paltry 0.37 percent advance. Since the votes were tallied, the Dow has fallen more than 600 points, or about 4.6 percent in just eight days. The TSX Composite has tumbled roughly the same amount.
The markets have been cloaked in negativity for the past two weeks, but the meeting in Washington late last week provided a glimmer of hope for the bulls this coming week. After all, it is not in the best interest of either the Democrats or the Republicans to see the US go over the fiscal cliff in six weeks, so there is growing optimism that a deal will be reached by Christmas. This next week is likely to be slow on volume after Monday and Tuesday as traders take time off and stretch the Thanksgiving holiday that shutters US markets on Thursday.
Earnings will still leak-in from a handful of companies, but budget talks and possible discussions about improved sales related to Black Friday (that has now basically turned into a three-day event) could give markets a lift this coming week.
The U.S. dollar teetered back and forth against the Canadian dollar this past week, including forcing the loonie to a three-month low on Friday before giving back the gains in a rocky trading session. It is feared that political gridlock in the States will impact imports by Americans of Canadian goods and that consumer prices rising in Canada will keep Bank of Canada Governor Mark Carney from raising interest rates. On the other side of the coin, the US continuing quantitative easing efforts will devalue the USD and a lift late on Friday of oil prices helped boost Canada`s currency back toward parity with its North American counterpart. When all was said and done last week, the Canadian dollar gained 0.09 percent against the US dollar, so next week will begin with one Canadian dollar buying US$0.99955.
* Gold futures were flat early in the week, torn between strong demand from India (because of the Diwali holiday), rising concerns about inflation in Japan, EU financial woes and the fiscal cliff in the US. Normally, gold is an asset that investors flock to during economic turmoil as a safe haven against inflation, but the widespread concerns involving so many nations have investors turning to cash rather than investments which is keeping gold primarily stuck in a range between $1,740 and $1,700 per ounce for the past month. Adding to pressure on gold prices, a report from the World Gold Council showed that demand dropped 11 percent during the third quarter compared to the third quarter of 2011. China, the second biggest consumer of gold after India, lowered both investment and jewelry purchases during the latest quarter. December contracts, the most actively traded this past week, fell Thursday on the EU recession news and weak jobs data in the States, leading to a loss of 0.94%, or $16.20 per ounce, to close the week at $1,714.70 on the Comex division of the New York Mercantile Exchange.
* Silver futures held a tight range this past week with global economies not having much of an impact on the white metal. As a precious metal, silver held firm on demand from India as high prices and taxes on importing gold increased appetites for silver, but slack economic data on industrial demand took some of the luster of silver with its many uses in industrial applications like electronics and solar products. Silver for December delivery was the most actively traded; slipping 0.70%, or $0.229, to $32.37 per ounce.
* Copper prices nudged cautiously forward this past week as data from China – the top consumer of copper – showed that the economy is stabilizing with their government believing that they will hit their growth forecasts for the year. The road to recovery is expected to be a slow one, however, and the country already has a large stockpile of copper, which tempered moods of optimism. December contracts were the most actively traded on New York`s COMEX exchange during the week; advancing $0.006 cents, or 0.17%, to $3.4515 per pound.
* Oil prices slipped early in the week against a backdrop of demand concerns much like other commodities. See-sawing back in forth all week, crude remains at the mercy of global financial issues, but ended the week on a high note as the conflict in the Middle East between the Arabs and the Israelis is escalating into the worst conflict between the two countries in four decades. The fighting between Israel and Hamas in Gaza has not impacted supply, but investors are now closely watching the posturing and attack efforts between the countries for destabilization of supply channels. In other oil news, the International Energy Agency reported that US oil output is aligned to exceed that of Saudi Arabia by 2020. January 2013 contracts for West Texas Intermediate crude were the most actively traded; rising $0.85, or 0.99%, to $86.92 per barrel.
Equity Market Snapshot:
(All percentages on a weekly basis unless otherwise noted) * Major gold miners were a clear drag on the markets. Yamana Gold (TSX:YRI, -7.50%), Agnico-Eagle Mines (TSX:AEM, -6.25%), Goldcorp (TSX:G, -10.30%), Barrick Gold (TSX:ABX, -6.43%), Kinross Gold (TSX:K, -7.85%) and Newmont Mining (TSX:NMC, -5.45) fell substantially.
* Osisko Mining Ltd. (TSX:OSK, -13.75%) said it has reached a friendly deal to buy Queenston Mining Inc. (TSX:QMI, +3.99%) in a share exchange that values Queenston`s equity at about $550 million, or $6 per share. Queenston shareholders will get 0.611 of an Osisko share.
* Iamgold Corp. (TSX:IMG, -23.70%) shares surrendered points after reporting a 10% drop in revenue to $386.8 million in the latest quarter. Net earnings ran up 56% to $78 million. Adjusted earnings came in at $60.2 million, or 16 cents a share, down from $112.4 million a year ago, far from analyst expectations of adjusted earnings of 24 cents per share on $427 million in revenue.
* Energy stocks limped along with the broad markets. Talisman Energy (NYSE:TLM, -1.01%), Canadian Natural Resources (NYSE:CNQ, -4.39%), Imperial Oil Ltd. (NYSE:IMO, -3.43%), Suncor Energy (NYSE:SU, -5.18%), Cenovus Energy (NYSE:CVE, -4.00%) and Exxon Mobil (NYSE:XOM,-0.87%) all moved lower.
* BP PLC (NYSE:BP, -1.98%) agreed to pay roughly $4.5 billion to settle federal charges related to the 2010 Deepwater Horizon oil spill in the Gulf of Mexico. About $4 billion is going to settle criminal charges and the remaining is going to the SEC for charges filed there.
* The effects of Hurricane Sandy rippled into analyst evaluations with Deutsche Bank cutting their rating of Phillips 66 (NYSE:PSX, -3.46%) to a “hold,” citing concerns about demand in the area because of the superstorm. Phillip`s Bayway refinery in New Jersey was flooded with saltwater during the storm, but the refiner anticipates resuming operations at the plant in the next few weeks.
* The biggest of banks in the US didn`t get any traction this past week. UBS AG (NYSE:UBS, -1.53%), Goldman Sachs Group (NYSE:GS, -0.27%), Bank of America (NYSE:BAC, -3.29%), Citigroup (NYSE:C, -2.64%), JPMorgan Chase (NYSE:JPM, -2.68%) and Wells Fargo & Co.
(NYSE:WFC, -1.27%) all carved-off points. XLF (NYSE:XLF, -1.42%), the financials select sector SPDR that tracks the financial stocks in the S&P 500, closed down for the second week in a row, representing the first time since April the XLF has closed red in consecutive weeks.
* The biggest banks in Canada didn`t fare much better. National Bank of Canada (TSX:NA, -1.17%), Canadian Imperial Bank of Commerce (TSX:CM, -1.49%), Toronto-Dominion Bank (TSX:TD, -1.45%), The Bank of Nova Scotia (TSX:BNS, -1.47%), Royal Bank of Canada (TSX:RY, -0.41%) and Bank of Montreal (TSX:BMO, -1.72%) all slipped lower.
* Research in Motion (TSX:RIM, +7.83%) got a boost after saying that it is launching its new BlackBerry 10 smartphones globally on January 30, 2013. RIM also announced a new feature for BlackBerry Messenger that allows customers to make free voice calls to other BBM users around the world over a Wi-Fi connection. This past week marked the first time that RIM closed above $9 per share since June. Shares have grown more than 50 percent from lows in late September.
* Shares of Gilead Sciences (NASDAQ:GILD, +14.44%) rose sharply after reporting positive results from tests of its hepatitis C treatment over the prior weekend. The drug maker said that clinical tests showed a cocktail of drugs using sofosbuvir, an inhibitor known as GS-5885 and ribavirin rendered hepatitis C undetectable after four weeks after completing 12 weeks of therapy.
* Fellow drugmaker Abbott Laboratories (NYSE:ABT, -3.02%) said that its drug Humira, coupled with methotrexate, outperformed methotrexate alone as a new therapy for rheumatoid arthritis.
* Also from the lab, Celgene (NASDAQ:CELG, +3.96%) said its late-stage study of Abraxane met a primary endpoint by statistically improving the life spans of patients suffering from pancreatic cancer, although no specific data was disclosed.
* On the flip side, Clovis Oncology INc. (NASDAQ:CLVS, -45.79%) saw shares dive after announcing that is drug, CO-101, was unsuccessful in increasing survival rates compared to standards of care today. The company is abandoning its clinical research on CO-101 to work on other drug candidates as a result.
* Consumer electronics chain Best Buy Co. (NYSE:BBY, -10.13%) said that former Williams-Sonoma executive Sharon McCollam will become its new chief financial officer in December. Founder Richard Schulze is reported still exploring a buyout offer for the big-box retailer and will probably be asking for a 30-day extension to conduct further due diligence on the opportunity.
* Home Depot Inc. (NYSE:HD, +1.90%), the world`s largest home improvement retailer, beat Wall Street expectations by reporting third quarter revenue of $18.1 billion, compared to $17.3 billion in the 2011 quarter. Net earnings totaled $947 million, or 63 cents per share, up from $934 million, or 60 cents per share last year.
Excluding certain expenses, earnings were 74 cents per share, a 23.3 percent increase over Q3 2011. Analysts were expecting earnings of 70 cents per share on revenue of $17.92 billion.
* In M&A activity, Sherwin-Williams Co. (NYSE:SWC, +1.81%) said it will spend $2.34 billion to acquire Consorcio Comex SA de CV, a Mexico-based coatings maker. Precision Castparts Corp.
* In Canada, Leon`s Furniture (TSX:LNF, -1.90%) agreed to buy smaller rival Brick Ltd. (TSX:BRK, +52.00%) for $5.40 per share in a deal valued at about $700 million.
* Dell, Inc. (NYSE:DELL, -5.86%), the world`s third biggest PC maker, reported a 47 percent drop in profit, citing weak macro-economic conditions and fleeting demand for PC’s and laptops in general. Net profit during the third quarter was $475 million, or 27 cents per share, compared to about $890 million in the year prior quarter.
Revenue during the third quarter was down 11 percent to $13.72 billion versus $15.36 billion in last year’s third quarter. Adjusted earnings for the quarter were 39 cents per share. Analysts were expecting earnings of 40 cents per share and revenue of $13.9 billion.
* Valeant Pharmaceuticals International, Inc. (TSX:VRX, +1.94%) got a lift upon reports that the U.S. Federal Trade Commission completed its review of the proposed acquisition of Medicis Pharmaceutical Corp.
(NYSE:MRX, +2.28%) by Valeant and has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 without conditions. The grant of early termination is effective as of November 15, 2012. The proposed merger remains subject to other customary closing conditions, including the approval of the Medicis`s stockholders.
* Shares of Astral Media Inc. (TSX:ACM.A, +7.12%) climbed after a report that BCE Inc. (TSX:BCE, -1.48%) was planning to make a new takeover offer for the broadcasting and advertising company. Last month, the Canadian Radio, Television and Telecommunications Commission squashed a $3.4-billion deal, saying it wasn`t in the best interests of Canadians.
* Wal-Mart Stores (NYSE:WMT, -5.92%) shares slid after the world`s biggest retailer fell short of Wall Street revenue forecasts. The company is also facing additional headwinds from employees potentially striking because of the hours being forced for the Black Friday weekend. Workers have already been striking in recent months in protest of several policies, including long hours, little pay and healthcare benefits.
* Shares of Abercrombie and Fitch (NYSE:ANF, +29.66%) roared ahead after beating expectations and raising guidance. The retailer reported a 40 percent jump in third-quarter earnings of $71.5 million, or 87 cents per share, compared to $50.9 million, or 57 cents per share, in the third quarter of 2011. Revenue increased by 8.7 percent to $1.17 billion, on the back of a 37 percent surge to $351.1 million in international sales. Analysts were expecting earnings of 59 cents per share and revenue of $1.11 billion.
* Sears Holdings Corp. (NASDAQ:SHLD, -24.03%) weighed on the S&P 500 by tumbling after posting a third quarter operating loss of $498 million, or $4.70 per share, as compared to $3.95 per share the year prior. Adjusted losses totaled $1.99 per share, ahead of analyst predictions of $2.16 per share, but the beat was apparently not enough to convince investors that the declining sales will stop any time soon.
* Invesco Canada, which controls about 10 percent of home improvement retailer Rona Inc (TSX:RON, +8.40%), called for the board of Rona to be removed and replaced by new directors.
* Shares of Facebook (NASDAQ:FB, +22.65%) surged even though more than 800 million shares held by early investors and employees reached the end of their “lock-up” period and became available for free trading. The social media company said that it added Brookstone Inc, Dean & Deluca Inc. and Fab.com Inc. as new partners, giving “tens of millions” of US users access to products as part of its new gifting service that was introduced in September. Other partners in the gift program already include companies like Starbucks (NASDAQ:SBUX, -3.92%) and 1-800-Flowers.com (NASDAQ:FLWS, -7.05%).
* In some IPO news, shares of Wi-Fi equipment maker Ruckus Wireless (NYSE:RKUS) made their much-awaited debut on Wall Street with a lackluster effort in the midst of the tough market climate. Shares opened on Friday at $15 each, but stumbled lower to close its first day at $12.25. A bit more cautious, healthcare company Radius Health Inc., Taylor & Martin Group and Singulex all postponed their initial public offerings.
Weekly Indices Results:
The S&P TSX Composite Index erased gains from the week prior; subtracting 319.08 points, or 2.62%, to 11,877.72. The TSX Venture Exchange also lost ground; surrendering 65.58 points, or 5.04%, to 1,235.34 on the week.
In the States, the Dow Jones Industrial Average extended its weekly losing streak to four; carving-off another 227.08 points, or 1.77%, to 12,588.31 this past week. The much-broader S&P 500 fell again as well; sifting-off 19.97 points, or 1.45%, to close at 1,359.88. The tech-rich NASDAQ Composite closed red for the sixth straight week; dumping another 51.74 points, or 1.78%, to 2,853.13.
Canadian Economic Data:
* Sales at factories in Canada rose more than expected in September, according to the latest monthly survey of manufacturing by Statistics Canada. Sales rose 0.4 percent for the month, largely on the back of increased aerospace gains. Economists were predicting a rise by 0.3 percent. Stripping-out the aerospace advance, sales dropped by 0.7 percent as Canadian manufacturers deal with potentially lower sales to the US, its largest trade partner because of the looming fiscal cliff.
Meanwhile, Stats Can lowered its estimate for August from a gain of 1.5 percent to 0.9 percent.
* Foreign investment in Canadian securities advanced to $13.9 billion in September on the strength of purchases of government bonds and corporate equities. Canadian investment in foreign securities reached a six-month high of $6.0 billion, led by the acquisition of US equities. Foreign investors acquired $10.6 billion of Canadian debt securities in September, the largest such investment since May.
Foreign investors have acquired $55.8 billion of Canadian debt securities so far in 2012, on par with the level of investment observed for the same period in 2011.
* The Canadian Real Estate Association said that home sales faded in October from September and that prices were flat, providing further evidence that the housing market that has been soaring for years is continuing to slow after tougher lending rules were enforced in July.
October sales dropped 0.1 percent from the month prior to 36,492 units. On a year-over-year basis, home sales declined by 0.8 percent from October 2011. The average national price for existing homes increased by only 0.1 percent to C$363,299 from September to October.
Next week, economic data will include Wholesale Trade and Leading Indicators on Tuesday; Retail Trade and Employment Insurance information on Thursday; and the Consumer Price Index on Friday.
U.S. Economic Data:
* The Labor Department reported that producer prices fell in October as energy and motor vehicle costs were lower, signaling that there is little inflation pressure on the economy at this point. The agency`s seasonally-adjusted Producer Price Index dropped 0.2 percent for the month after a 1.1 percent rise in September. It was the PPI`s first decline since May and topped economist predictions of a 0.2 percent rise for October. The “core PPI,” which strips-out the volatile food and energy sectors, was 0.2 percent lower, its largest drop since October 2010. Economists believed that the core PPI would rise 0.1 percent for the month.
* Retail sales declined by a seasonally-adjusted 0.3 percent in October, said the Commerce Department; impacted in part by the effects of Hurricane Sandy, but also by slower consumer demand. Economists predicted a drop of 0.1 percent. Auto dealers paced lagging sectors with a 1.5 percent dive in sales, its biggest drop in more than one year, but spending cuts were widespread with lower sales also reported by internet sellers, home improvement stores, department stores and retailers that sell electronics, home furnishings and appliances.
* Lower prices at gas stations were offset by increases in food costs and higher rents, allowing the Consumer Price Index to edge upward by 0.1 percent in October, according to the Labor Department. Surging gas prices had caused the CPI to rise 0.6 percent in each of the prior two months. Excluding the volatile gas and food segments, consumer prices rose 0.2 percent. In the last year, consumer prices have risen 2.2 percent, basically in line with the Federal Reserve`s inflation target of 2 percent annually.
* The impact of Hurricane Sandy finally caught-up with initial jobless claims for the week ended November 10, according to the Labor Department. First-time applications for unemployment benefits jumped to a 1-1/2 year high to 439,000, an increase of 78,000 from the week prior. Economists were expecting a rise of 14,000 claims to 375,000.
Claims surged in the northeast and mid-Atlantic regions of the US where the superstorm slammed businesses and homes late in October.
The four-week moving average of jobless claims rose to 383,750, still below the 400,000 mark that economists regard as an increase in employment.
* The damages from Sandy also impacted factory activity in the Philadelphia region, according to the latest reading of business activity by the Philadelphia Federal Reserve. The Fed`s index of factory activity plummeted from 5.0 in October to -10.7 in November, a much steeper drop than the fade to 2.0 predicted by economists. Any reading below zero indicates contraction in the manufacturing sector for the region.
* On top of cooling global demand, superstorm Sandy also dampened industrial production for October. Production utilities, factories and mines fell by 0.4 percent following a downwardly-revised 0.2 percent increase in September, according to Federal Reserve data from Washington. Economists were expecting a rise of 0.2 percent during October. Manufacturing, which constitutes about 75 percents of total production, contracted by 0.9 percent.
Next week, data in the States will bring Existing Home Sales stats on Monday; Housing Starts on Tuesday and Initial Jobless Claims on Wednesday (moved ahead because of markets being closed on Thursday for the Thanksgiving holiday in the States).
Technical Penny Stocks to Watch & Company Spotlight Results:
Amongst our “Daily Technical Penny Stocks to Watch,” it was another week of solid performance with each play providing an opportunity for gains against the backdrop of markets trending bearishly all week.
The best performer was Lake Shore Gold Corp. (TSX:LSG) which was picked on Monday evening at a price of $0.8703. Shares rose on Tuesday and hit their intraweek high on Wednesday at $0.9167 for a gain of 5.33 percent before chilling heading into the weekend to drop back to near the support level where the play was initially picked.
Our latest Canadian spotlight, Pacific Therapeutics Ltd. (CNSX:PT), a development stage specialty pharmaceutical company focused on the identification and development of drug candidates to treat diseases of excessive scarring (fibrosis), provided the results of the phase 1 trial of PTL-202 and an update on the development of PL-202 including future plans. Pacific initiated its first clinical trial of PTL-202, a fixed dose combination of Pentoxifylline and NAC, in August of this year. The development of PTL-202 is targeted at fibrosis including Idiopathic Pulmonary Fibrosis (“IPF”) and Bronchiolitis Obliterans (excessive scarring) associated with lung transplant and Liver Cirrhosis. IPF is responsible for more deaths annually than either prostate or breast cancer.
The trial was designed to test for interaction between the drugs combined in PTL-202. The trial indicated that when given in combination, to healthy males, plasma concentrations of Active Ingredients in PTL-202 is increased and therapeutic effects such as vasodilation are enhanced. Side effects were consistent with the increased concentrations. Given the positive result of this trial, the data from this trial will be used by Pacific to fine tune the dosages and delivery profile in the formulated product in planning for additional clinical trials. The combination of a proprietary dosage and delivery may eliminate potential competition from existing manufacturers of Pentoxifylline and NAC.
Intertainment Media Inc. (TSX-Venture:INT) (OTCQX:ITMTF) was active in the newsroom this past week. The company delivered a message to investors that began to unveil its next steps with its subsidiary Ortsbo to continue penetrating key online markets that generate more than $1 trillion annually in sales. Delivered as a Cloud computing service, Ortsbo is a first-in-class, real-time, cross-language communication platform that can be used in countless industries to allow communications in more than 65 languages.
“Over the last nine months, the Ortsbo new team has been very heads down. Over the next number of weeks,” said Ortsbo President Patrick Bultema. “[we] will provide a series of releases to further unpack our strategy and progress. We will provide more detail on each of the lines as we launch products, but always with strategic partners, customers, and revenue models. So stay tuned.” Keeping true to their word, that statement was followed the next day by Intertainment announcing that it is launching a marketing services solutions initiative to service, scale and monetize its inroads within the entertainment, sports, celebrity and e-commerce industries. With global partner brands that include KISS, Disney, Daughtry, Dreamworks, Fox, IndyCar, Live Nation, The Barclays Center and Marvel, to name a few, the new solutions will focus on growing this segment as well as looking to deliver world class production solutions for existing, and newly acquired, tier one brands. The solution offering will leverage Ortsbo`s developed technology for global language applications as a “powered by Ortsbo” ingredient in the offering. Intertainment is currently finalizing a number of strategic opportunities and support structures and expects to announce those in the coming weeks.
————————- Forward Looking Statements This report includes forward-looking statements that reflect the mentioned companies current expectations about its future results, performance, prospects and opportunities. the mentioned companies has tried to identify these forward-looking statements by using words and phrases such as “may,” “will,” “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plan,” “should,” “typical,” “preliminary,” “we are confident” or similar expressions. These forward-looking statements are based on information currently available and are subject to a number of risks, uncertainties and other factors that could cause the mentioned companies actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and other factors include, without limitation, the Company`s growth expectations and ongoing funding requirements, and specifically, the Company`s growth prospects with scalable customers, and those outlined above. Other risks include the Company`s limited operating history, the Company`s history of operating losses, consumers` acceptance, the Company`s use of licensed technologies, risk of increased competition, the potential need for additional financing, the terms and conditions of any financing that is consummated, the limited trading market for the Company`s securities, the possible volatility of the Company`s stock price, the concentration of ownership, and the potential fluctuation in the Company`s operating results.
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For more information see our disclaimer section, a link of which can be found on our web site. This document contains forward-looking statements, particularly as related to the business plans of the Company, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created by these sections. Actual results may differ materially from the Company`s expectations and estimates.
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Information presented on our web site and within our reports contain “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be “forward looking statements.” Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through the use of words such as “expects”, “will,” “anticipates,” “estimates, “believes,” or that by statements indicating certain actions “may,” “could,” or “might” occur.
THE READER SHOULD VERIFY ALL CLAIMS AND DO THEIR OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. INVESTING IN SMALL CAP SECURITIES IS SPECULATIVE AND CARRIES A HIGH DEGREE OF RISK.
We encourage our readers to invest carefully and read the investor information available at the web sites of the Securities and Exchange Commission (SEC) at: http://www.sec.gov ( http://www.sec.gov ) and/or the National Association of Securities Dealers (NASD) at:
http://www.nasd.com ( http://www.nasd.com ). Readers can review all public filings by companies at the SEC`s EDGAR page. The NASD has published information on how to invest carefully at its web site.
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