The company's intention is to enter into the plastic and tire recycling market by the establishment of plants within the US. The company has entered into a non-binding Letter of Intent (LOI) with Ebbros I Investment Group, of Kansas City, Missouri (signed in 7-9 2011) which contemplates that Ebbros will develop the plants, including all infrastructures, install all necessary equipment, and lease the same back to GETH. The letter of intent also contemplates that Ebbros will also purchase all oil produced at the plants. The lease-back agreement under the letter of intent is to be for a period of ten years, and GETH will have a buy back clause during this period for the purchase of the physical site and equipment. The companies expect to finalize the contract in the 2nd quarter.
What They Do: Green EnviroTech Holdings Corp. is a plastics and tires recovery and recycling company which removes contaminants from recovered plastic recaptured from end of life automotive vehicles shredded for their metal.
Gordmans Stores (Nasdaq: GMAN) $15.44. Announced Monday after market close results for its fourth quarter (thirteen weeks) and fiscal year (fifty-two weeks) ended January 28, 2012.
Net sales for the fiscal year ended January 28, 2012 increased 6.7% to $551.5 million from $517.0 million in fiscal 2010 as a result of the opening of six new stores and a comparable store sales increase of 0.7%. Gross profit in fiscal 2011 increased by 50 basis points to $242.0 million, or 43.9% of net sales, from $224.3 million, or 43.4% of net sales, in the prior fiscal year. Selling, general and administrative costs were $201.1 million, or 36.5% of net sales, compared to $198.3 million, or 38.4% of net sales, in fiscal 2010. Selling, general and administrative costs for fiscal year 2010 include one-time, pre-tax expenses of $10.6 million related to the Company's initial public offering in August 2010.
Net income in fiscal 2011 was $25.2 million, or $1.30 per diluted share (based on 19,370, 290 diluted weighted average shares outstanding), compared to net income of $15.6 million in fiscal 2010. Excluding the one-time, pre-tax expenses of $10.6 million related to the initial public offering, non-GAAP adjusted net income for fiscal year 2010 was $22.4 million, or $1.28 per diluted share (based on 17,454, 458 diluted weighted average shares outstanding).
What They Do: Gordmans features a large selection of the latest name brands, fashions and styles at up to 60 percent off department and specialty store prices every day.
BioSante Pharmaceuticals (Nasdaq: BPAX) $0.70. Today announced that data from studies of the Pill-Plus “triple component” oral contraceptive were presented on March 10, 2012 by Pantarhei Bioscience at the World Congress of Gynecological Endocrinology in Florence, Italy. The title of the Pantarhei presentation was,“Clinical effects of normalizing testosterone levels during oral contraception.” The United States patents for oral use of the Pill-Plus are licensed by BioSante to Pantarhei Bioscience, a Netherlands-based pharmaceutical company, for development and marketing in the United States.
BioSante retains rights to the Pill-Plus for transdermal development and marketing.To date, six prospective, randomized controlled (placebo or active) Phase II clinical studies of the Pill-Plus have been completed in 355 subjects. In these studies, use of the Pill-Plus has been shown to increase frequency of sexual activity, arousal, responsiveness to partner, genital sensations and vaginal lubrication. In addition, improvements were seen in quality of life scores. No significant androgenic effects were noted.
BioSante will receive royalty payments on sales of the Pill-Plus in the U.S., if and when introduced. If the product is sublicensed by Pantarhei to another company BioSante will receive a percentage of any and all payments received by Pantarhei for the sublicense from a third party. BioSante has retained all rights under the BioSante-licensed patents to the transdermal delivery of triple component contraceptives.
What They Do: BioSante is a specialty pharmaceutical company focused on developing products for female sexual health and oncology.
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