StockGuru Spotlight August 11, 2010
Our Stock Guru Picks are based on recent news releases — and we prove our picks are real by issuing press releases on the date of the pick and link you to those releases.
We have a new StockGuru On Fire Stock Pick. CVLL was up 400 percent yesterday alone.
Community Valley Bancorp is the parent company of Butte Community Bank, a progressive Northern California bank that combines traditional deposit and lending services with innovative banking solutions, and Butte Community Insurance Agency, LLC, a full-service insurance agency offering all lines of coverage from auto and health to commercial and farm packages.
Founded in 1990, Butte Community Bank is California state-chartered with 14 branches in eleven cities including Anderson, Chico, Colusa, Corning, Magalia, Oroville, Paradise, Red Bluff, Redding, Yuba City and Marysville. Community Valley Bancorp has headquarters in Chico, California.
CVLL Up 400% Yesterday
FMTI MOVING UP RAPIDLY ON ACQUISTION OFFER
Forbes Medi-Tech Inc. (OTCBB: FMTI) (“Forbes” or “Company”) today announced on August 9, 2010 that the Pharmachem Laboratories, Inc. (“Pharmachem”) revised offer to acquire substantially all of the assets of the Company is for cash consideration of US$2.9 million (the “Pharmachem Revised Offer”). The Pharmachem Revised Offer, which is not subject to a financing condition, exceeds the approximately US$1.76 million purchase price described in the amended and restated asset purchase agreement between the MHT, LLC (“MHT”) and the Company (the “MHT Amended Asset Purchase Agreement”) announced in the Company’s news release of August 5, 2010.
At a meeting held on August 8, 2010, the Company’s board of directors (the “Board”), concluded that the Pharmachem Revised Offer is on more favorable terms to Forbes’ shareholders than the transaction with MHT and qualifies as a Superior Offer, as defined in the MHT Amended Asset Purchase Agreement. As the Pharmachem Revised Offer constitutes a Superior Offer, MHT has the right, but not the obligation, to make an offer at least as favorable to Forbes’ shareholders as the Pharmachem Revised Offer within 5 business days. If MHT does not make another offer, the Board will consider, in consultation with its outside counsel, whether, in light of the Pharmachem Revised Offer, the Board should withdraw its recommendation of the MHT Amended Asset Purchase Agreement and Forbes should enter into a definitive agreement with Pharmachem in connection with the Pharmachem Revised Offer.
Following the completion of the sale of all or substantially all of the assets of the Company (the “Asset Sale”), Forbes intends to settle all of its contractual obligations, appoint a liquidator (Abakhan & Associates Inc.) to finalize and wind-up its affairs, and distribute the resulting net proceeds to its shareholders (the “Liquidation”). The Company previously announced that the expected proceeds of the distribution resulting from the MHT Amended Asset Purchase Agreement will be Cdn $0.14 to Cdn $0.19 per share. If the Company completes the sale of all or substantially all of its assets at the purchase price set forth in the Pharmachem Revised Offer, the Company expects the net proceeds of the Liquidation to be in the range of Cdn $0.34 to Cdn $0.39 per share. The MHT Amended Asset Purchase Agreement with MHT remains in effect as of the date of this News Release.
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StockGuru Spotlight Picks
|StockGuru Spotlight Pick Date||Pick Price||Stock||High||Up As Much As|
|July 9, 2010||$ 0.080||PTSC||$ 0.257||221%|
|June 17, 2010||$ 0.130||EQST||$ 0.400||208%|
|July 8, 2010||$ 0.235||TAMO||$ 0.640||172%|
|July 9, 2010||$ 0.030||EGSR||$ 0.075||150%|
|July 22, 2010||$ 0.060||FNDM||$ 0.150||150%|
|August 4, 2010||$ 0.140||FSTH||$ 0.300||114%|
|June 11, 2010||$ 0.050||VLCO||$ 0.100||100%|
|July 2, 2010||$ 0.300||VUOC||$ 0.585||95%|
|July 8, 2010||$ 0.107||VHGI||$ 0.196||83%|
|July 9, 2010||$ 0.250||SELR||$ 0.450||80%|
|July 28, 2010||$ 0.070||NPWZ||$ 0.120||71%|
|July 21, 2010||$ 0.010||WWEI||$ 0.017||70%|
|July 27, 2010||$ 0.018||ALTO||$ 0.030||69%|
|June 25, 2010||$ 0.320||SKPI||$ 0.540||69%|
|July 28, 2010||$ 0.540||MBCI||$ 0.870||61%|
|July 9, 2010||$ 0.200||SRRL||$ 0.320||60%|
|June 25, 2010||$ 3.010||MASC||$ 4.800||59%|
|June 17, 2010||$ 0.390||RBYC||$ 0.600||54%|
|July 29, 2010||$ 0.060||SMME||$ 0.099||65%|
|July 13, 2010||$ 0.870||ROHI||$ 1.300||49%|
|June 3, 2010||$ 0.960||CPAH||$ 1.350||41%|
|August 5, 2010||$ 0.250||ASKE||$ 0.330||32%|
|June 16, 2010||$ 0.190||WNDT||$ 0.250||32%|
|June 16, 2010||$ 1.750||EENI||$ 2.250||29%|
|August 4, 2010||$ 0.920||AMZG||$ 1.160||26%|
|June 18, 2010||$ 1.350||WOVT||$ 1.700||26%|
|July 7, 2010||$ 5.900||BOBS||$ 7.120||21%|
|August 2, 2010||$ 0.630||LPTN||$ 0.750||19%|
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