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American Video Teleconferencing Corp. (OTCPK:AVOT)
American Video Teleconferencing Corp. (Pink Sheets:AVOT) is pleased to announce that it is presently in final discussions to enter into a formal agreement to acquire an exclusive option on a molybdenum property in the Otter lake area in the province of Quebec, Canada. The property has been dormant since the 1960’s when Hupon Mining and Exploration carried out surface work, stripping, trenching and a minor drill program of 445 feet contained in 11 drill holes. Some of the sample results from the trenching in 1962 showed 0.94% to 25% molybdenum averaging 5-10%. These values were obtained from assessment files in the Department of Mines in Quebec City.
This property is only one of several advanced stage properties the company has under consideration in the province of Quebec.
China has been one of the main supplier to the US of the Earth’s rare mineral supplies, with these rare minerals American manufacturers are able to make high-tech products such as cell phones, wind turbines, and guided missiles but all that might come to a screeching halt now that China has stopped supplying the material, the New York Times has reported.
In the wake of China’s decision America now must look for other sources, that will be more reliable for our future needs, and American Video Teleconferencing Corp. (OTCPK:AVOT) may just be the new source, here’s why.
American Video believes the rare earths industry is where it wants to maintain a very strong focus and is looking to expand its holdings. It is currently looking for these Rare Earths Minerals in Canada, the US’s Northern neighbor.
Mining, refining, and recycling of rare earths have serious environmental consequences if not properly managed. A particular hazard is mildly radioactive slurry tailings resulting from the common occurrence of thorium and uranium in rare earth element ores. Additionally, toxic acids are required during the refining process. Improper handling of these substances can result in extensive environmental damage. In May 2010, China announced a major, five-month crackdown on illegal mining in order to protect the environment and its resources. This campaign is expected to be concentrated in the South, where mines are commonly small, rural, and illegal operations particularly prone to release toxic wastes into the general water supply. However, even the major operation in Baotou, in Inner Mongolia, where much of the world’s rare earth supply is refined, has suffered major environmental damage.
Proper Power & Energy, Inc. (OTC BB: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.
About Proper Power & Energy:
Proper Power & Energy was formed in 2006 as an exploration and production company for oil and gas. The organization is committed to utilizing a very dynamic system of research and testing, and as a result of this extensive research and testing, have selected several sites with very good to excellent potential for productivity.
Complete Production Services, Inc. (NYSE:CPX) reported fourth quarter revenue of $472.8 million, an increase of 13% over the third quarter of 2010, and fourth quarter Adjusted EBITDA (as defined below) of $120.7 million, an increase of 7% over the third quarter of 2010. Fourth quarter 2010 operating income was $74.4 million, up 9% versus the third quarter of 2010, and fourth quarter net income was $38.2 million, or $0.49 per diluted share, an increase of $5.2 million or $0.07 per diluted share, over the prior quarter.
Complete Production Services, Inc. provides specialized services and products to develop hydrocarbon reserves for oil and gas companies primarily in North America and southeast Asia. It operates in three segments: Completion and Production Services, Drilling Services, and Product Sales.
Apartment Investment & Management Co. (NYSE:AIV) announced its fourth quarter 2010 results.Chairman, Chief Executive Officer and President Terry Considine comments: “Aimco had a solid 2010. Full year Same Store, Conventional Same Store and Total Portfolio net operating income were all up from the prior year. Total Portfolio revenue was up 1.0% and Conventional Same Store revenue was essentially flat, notwithstanding the fragile economy. Aimco upgraded its portfolio with the sale of 51 properties and ended the year with a strong balance sheet and no recourse debt. Looking forward, the Aimco business plan is straightforward and unchanged: own and operate B/B+ quality apartments in the 20 largest U.S. markets to provide predictable returns for shareholders.”
Apartment Investment and Management Company (AIMCO) is a real estate investment manager. The firm engages in the acquisition, ownership, management, and redevelopment of apartment properties.
ESCO Technologies Inc. (NYSE:ESE) reported its operating results for the first quarter ended December 31, 2010.Net sales were $160 million, an increase of $47 million, or 42 percent, over Q1 2010 net sales of $113 million; Utility Solutions Group (NYSE:USG) net sales were $92 million, an increase of $31 million, or 51 percent over Q1 2010, as Aclara net sales increased $28 million, or 76 percent; Filtration net sales increased $11 million, or 46 percent over Q1 2010, with Crissair, acquired on July 31, contributing $6 million; Test net sales increased $5 million, or 19 percent over Q1 2010; EPS was $0.40 per share, up significantly over Q1 2010 EPS of $0.02 per share; Net cash provided by operating activities increased to $19 million, compared to $5 million in Q1 2010.Entered orders were $186 million, an increase of $48 million, or 35 percent, over Q1 2010 entered orders of $138 million, resulting in a book-to-bill ratio of 1.2x and firm order backlog of $387 million at December 31, 2010.
ESCO Technologies, Inc. produces engineered products and systems. The company’s Utility Solutions segment offers wireless radio frequency data communications systems to gas, water, and electric utilities for metering infrastructure applications.
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