Exelixis, Inc. (Nasdaq:EXEL) will release its fourth quarter and full year 2010 financial results on Tuesday, February 22, 2011, after the markets close. The announcement will be followed by a live webcast at 5:00 p.m. EST/ 2:00 p.m. PST. During the webcast, Exelixis management will discuss the company’s financial results, 2011 financial guidance, corporate strategy, recent clinical data and development plans and priorities for cabozantinib (XL184), and provide a general business update. The webcast may be accessed in the Event Calendar page under Investors at http://www.exelixis.com.
Exelixis, Inc. engages in the discovery, development, and commercialization of small molecule drugs for the treatment of cancer, metabolic, and cardiovascular disorders.
Mutualfirst Financial Inc. (Nasdaq:MFSF) announced that net income available to common shareholders for the year ended December 31, 2010 was $4.7 million, or $.69 for basic and diluted earnings per common share. This compared to net income available to common shareholders for the year ended December 31, 2009 of $1.4 million, or $.20 for basic and diluted earnings per common share. Return on assets was .45% and return on average tangible common equity was 4.96% for the year ended 2010 compared to .23% and 1.49% respectively, for the year ended 2009.
MutualFirst Financial, Inc. operates as a holding company for MutualBank that provides banking services to individuals and businesses. It accepts various savings deposit accounts, NOW and demand accounts, and certificates of deposit.
Proper Power & Energy, Inc. (OTCBB:PPWE.OB), a Tampa-based independent oil and gas exploration and production company, has announced that it has been approached by two independent financing groups and has submitted a $10 million private placement memorandum to each of them. These two groups are seeking domestic oil and gas production in light of the Middle East tensions.
“The timing to acquire oil and gas properties while gas prices are low couldn’t be better. Additionally, the availability of this funding for developing Proper Power’s Kentucky and Utah oil prospects will accelerate 2011 revenues and leasehold acreage growth dramatically. We anticipate feedback from both of the financing groups before the end of this month,” stated Andrew J. Kacic, President of Proper Power & Energy.
In Kentucky, Oil and gas are produced from more than 1,500 pools from rocks of Cambrian to Pennsylvanian age. Most oil is produced from Mississippian limestone and sandstone in eastern and western Kentucky or from Ordovician limestone and dolomites in southern Kentucky. Most natural gas is produced from the Devonian black shale in eastern Kentucky.
The state of Utah is ranked 13th in the country in crude oil production and 9th in natural gas gross production (Energy Information Administration; rankings based on 2008 production, not including Federal Offshore production areas). There are approximately 9,100 wells currently in production within the state. Products made from petroleum include: Gasoline, diesel, jet fuel, propane, heating oil, asphalt, ink, crayons, bubble gum, dishwashing liquids, deodorant, eyeglasses, records, tires, ammonia, and heart valves. Natural gas is an essential raw material for many products, such as: Paints, fertilizer, plastics, antifreeze, dyes, photographic film, medicines, and explosives.
PPWE has entered into a strategic alliance with Douglas Kiggins, founder of Mayo Energy Partners. Mr. Kiggins will assist Mr. Kacic in the development of the Company’s Utah asset, with the target goal of drilling the first exploratory well in Utah by third Quarter 2011. Mr. Kiggins has participated in the drilling and development of over 250 oil and gas wells in Texas, Oklahoma and Colorado, with the deepest well reaching a total depth over 21,000 feet.
More about PPWE at: www.properpower.com
American Video Teleconferencing Corp. (PINK: AVOT) has hired a French speaking geologist to help search for rare earth claims in the Mekinac Township, province of Quebec, east central Canada. The documentation of the Quebec Department of Mines for Rare Earths is still not available in computers.
Québec is remarkable from the standpoint of the wealth of its tremendous land area that has scarcely been tapped. It has roughly 30 mines, 158 exploration firms and 15 primary processing industries. Some 30 minerals are mined, of which the leading ones are gold, iron, titanium, asbestos, copper, zinc and silver. Scarcely 40 % of Québec's mineral potential is now known.
In 1999, the value of Québec mineral shipments reached $ 3.6 billion. The mining industry accounts for nearly 18,000 direct jobs and investment reaching $ 1 billion. In Québec, more than 90 % of the substratum is made up of Precambrian rock, a geological formation well known for its deposits of gold, iron, copper and nickel. Since the Québec mining industry took off in the 1920's, it has maintained steady growth. The Abitibi-Témiscamingue region experienced the first mining boom. Exploration was subsequently carried out in the Matagami, Chibougamau, Saguenay Lac-Saint-Jean, Grand-Nord and Côte-Nord regions.
AVOT is searching for opportunities in Precious, Base and Rare Earths metal projects.
LoopNet, Inc. (Nasdaq:LOOP) announced financial results for the fourth quarter and year ended December 31, 2010. Revenue for the fourth quarter of 2010 was $20.0 million, compared to $19.8 million in the third quarter of 2010 and $18.3 million in the fourth quarter of 2009. Net income applicable to common stockholders for the fourth quarter of 2010 was $7.2 million or $0.17 per diluted share, compared to $3.2 million or $0.07 per diluted share in the fourth quarter of 2009. Net income applicable to common stockholders for the fourth quarter of 2010 included three non-recurring items, which had a net positive impact of $0.12 per diluted share.
LoopNet, Inc. operates an online marketplace for commercial real estate in the United States.
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