The penny stock of PWAV ended the day 90.97% higher at $0.730. The stock extended its gains in pre-market trading today. At last check, it was trading 2.75% higher at $0.750.

PWAV shares rallied on Wednesday after the company entered into a new $50 million senior secured credit agreement with P-Wave Holdings LLC. Under the terms of the agreement, P-Wave Holdings, which is an affiliate of The Gores Group, advanced $35 million to PWAV, less fees and expenses. P-Wave has also agreed to loan another $15 million to PWAV on fulfillment of certain conditions.

The credit agreement also includes an accordion feature that enables PWAV to request up to an additional $100 million in term loans from P-Wave Holdings. However, this loan will be advanced on P-Wave Holdings’ discretion.

PWAV plans to use the proceeds from the new credit agreement to fund its working capital requirements as well as for general corporate purposes.

PWAV said that in connection with the initial loan, it issued warrants to P-Wave Holdings to purchase a total of 2,625,000 shares of PWAV common stock with an exercise price of $0.50 per share.

PWAV reported its most recent quarterly results (Q1) back in May. For the quarter ended April 1, 2012, PWAV reported net sales of $43.3 million, compared to $136.6 million reported for the same period in the previous year. The company reported GAAP net loss of $57.9 million for the first quarter, compared to $7 million reported for the same period in the previous year.

Ronald Buschur, president and CEO of Powerwave Technologies, said that the company’s first-quarter revenue were impacted by weakness in several of the company’s markets. Buschur said that network operators continue to be conservative in their spending plans and in several markets operators continued to delay capital spending plans.

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The penny stock of SSN ended the day 12.05% higher at $1.21. The stock touched an intra-day high of $`1.37 on Tuesday. It has now gained more than 17% in the last three trading sessions. Year-to-date, SSN shares have fallen more than 37%.

Last month, SSN provided an update on its operations. SSN said that the fishing operations on the Spirit of America US34 #2-29 well, in which the company has a 100% working interest, have been completed. The well is part of the Hawk Springs Project in Goshen County, Wyoming. SSN said that the well is set up for hydraulic fracture simulation operations. The company’s stimulation plan is to place 57,500 pounds of proppant in the two remaining frac stages within the Permian section of the well.

SSN also said that the Defender US33 #2-29H well, which is also part of the Hawk Springs Project, was put back on rod pump on August 23rd following extensive periods of testing and evaluation. The company has a 37.5% working interest in the well. In the last week of August, the well produced on average 75 BOPD with the pump jack speed set on a very low setting (4.25 strokes per minute) to help minimize disruptions from gas production.

SSN said that over the next few months it plans to evaluate the Defender well following which a decision will be made on whether it is appropriate to increase the pump speed. The well is the first in SSN’s Hawk Springs project to benefit from the latest technology providing a better understanding of the reservoir due to extensive testing and evaluation.

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At last check, the small-cap stock of NAVB was down 33.62% to $2.33 in pre-market trading today. The stock had finished 1.68% lower at $3.51 in regular trading on Monday.

NAVB shares are sinking in pre-market trading after the company announced the receipt of a Complete Response Letter (CRL) from the U.S. FDA regarding its New Drug Application (NDA) for Lymphoseek® Injection.

The FDA said in the CRL that its decision to not approve the drug was due to issues with third-party Lymphoseek contract manufacturing and not related to any efficacy or safety data filed within the NDA.

NAVB’s Lymphoseek is a novel agent that has been evaluated in lymphatic mapping procedures performed to help stage breast cancer and melanoma.

Commenting on the development, Mark Pykett, V.M.D., Ph. D., President and CEO of Navidea Biopharmaceuticals, said that receiving a CRL is clearly disappointing, however, NAVB remains steadfast in its belief that Lymphoseek holds significant promise in improving the lives of patients who undergo lymphatic mapping procedures to stage solid tumor cancers, such as breast cancer and melanoma.

Pykett said that NAVB is already working closely with the FDA and its third-party contract manufacturers to address all requirements to support the shortest possible NDA resubmission and review. Pykett added that he is confident that the company’s clinical data clearly demonstrates the value of Lymphoseek in accurately identifying lymph nodes that most likely harbor cancer while producing no clinically significant adverse effects.

Michael King, analyst at Rodman & Renshaw said that Lymphoseek appears to be more accurate and convenient than older imaging agents and that it could be used in the study of more than a million newly-diagnosed tumors per year in the U.S. and a total of 8 million worldwide.

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The penny stock of PRTN ended the day 18.18% higher at $0.297. The stock gained 22.68% in the last three trading sessions.

Eaton Scientific Systems, which was acquired by PRTN recently, last week, announced that it completed the Protocol for the Clinical Trial for Tropine 3.

Eaton Scientific’s Tropine 3 is a novel indication of homatropine for the non-hormonal treatment of hot flashes in pre-menopausal, peri-menopausal and post-menopausal women. Homatropine is a FDA approved drug.

Eaton Scientific CEO Michael Borkowski said last week that the completion of the Protocol is a very important step in the process of seeking FDA approval for Tropine 3 and illustrates the company’s progress towards the Clinical Trial.

Eaton Scientific plans to carry out the trials in two phases. The Phase I/II, prospective, randomized, double-blind, placebo-controlled, dose escalation, open label study will be conducted to test the efficacy and safety of homatropine methylbromide oral suspension on selected climacteric symptoms and quality of life in menopausal women not receiving hormonal treatment.

Last month, Eaton Scientific’s planned clinical trials will be overseen by Dr. David L. Stark, D.C., Q.M.E., CCRA, a clinical trial veteran. The company had announced the appointment of Dr. Stark last month.

Borkowski said last month that the addition of Dr. Stark to the Eaton Scientific team gives a major boost to the company’s efforts to develop, validate and monetize Tropine 3 as a safe and effective non-hormonal treatment of hot flashes in menopausal women. Borkowski said that the company expects Dr. Stark to be instrumental in all aspects of its planned clinical trials going forward, especially in regard to trial implementation and overall FDA compliance.

Dr. Stark, who has more than 18 years of experience from the toxicology labs to the investigator site, currently serves as the President and CEO of Stark-SMO.

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The small-cap stock of SMIT ended the day 1.72% higher at $3.55. The stock is down 0.88% in the last three trading sessions. In the last three months, SMIT shares gained 5.97%. Year-to-date, the stock has gained 10.94%.

Back in July, SMIT reported its fourth-quarter and full-year ended May 31, 2012 financial results. For the fourth quarter, SMIT reported sales of $4.332 million, compared to $3.253 million reported for the same period in the previous year.

SMIT’s sales in the Balancer segment fell 8.5% to $2.15 million in the fourth quarter. Sales in the Measurement segment, meanwhile, rose 141.2% to $2.182 million in the fourth quarter.

Net income for the quarter ended May 31, 2012 was $5,948, or $0.000 per diluted share, compared to $58,190, or $0.02 per share reported for the same period in the previous year.

For the full fiscal year, SMIT reported sales of $14.43 million, representing an increase of 25.6% over the previous year. The company’s sales in the Balancer segment rose 15.7% to $9.26 million for the fiscal year ended May 31, 2012. Sales in the Measurement segment climbed 48.5% to $5.172 million. Net income for the year ended May 31, 2012 was $77,421, or $0.03 per diluted share, compared to a net loss of $205,383, or $0.07 per share reported in the year ended May 31, 2011.

Wayne A. Case, CEO of Schmitt Industries, said that SMIT is very pleased with the record revenue achieved for the fourth quarter and the year. Case said that the company benefitted from a large sale of its Acuity® laser sensor product lines. The company also shipped 1,100 of its Xact® tank measurement systems for both large and small propane tanks during the fourth quarter.

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ENTB has reported that this its ImenVax cancer vaccine appears to slow down the growth of tumor in canine cancers. The company also claimed that the vaccines is effective without causing any major side effects. David Koos, CEO and Chairman of ENTB, said, “Principal investigators conducting the safety study on ImenVax™ observed the implantation device and vaccine to be very well-tolerated.”

The company is also looking to expand its presence in veterinary cancer care market. It is planning to acquire vet hospitals for this purpose. .  Dr. David Koos, CEO and chairman of the company said, “Our primary goal is to continue growing the number of Veterinary Hospitals we own.” The company is planning to focus on distribution channel  for its products.

ENTB is involved in the development  and marketing of therapies for serving veterinary markets. The company has various drug candidates in pipeline such as ImenVax I, ImenVax II and ImenVax III. It also operates a chain of veterinary clinics and offers services like examination, vaccination, diagnostic testing and spaying of animals. The company also deals in animal boarding services and offers various pet products such as food, collars and related accessories. ENTB also offers its products online. The company is based out of La Mesa in California. ENTB was formed in 2008.

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The penny stock of ODP ended the day 19.25% higher at $1.93. The stock is continuing to climb in pre-market trading today. At last check, the penny stock was up 0.52% in pre-market trading today.

ODP shares surged on Wednesday after the company reaffirmed its full-year guidance. Office suppliers have had a tough time since the recession three years ago. Office suppliers, including ODP, have also suffered as more and more consumers buy discount office supplies online.

Office Depot on Wednesday said that it continues to expect full year adjusted earnings to be between $125 million and $135 million. The company expects 2012 operational free cash flow to be between $80 million and $100 million.

Office Depot reported its second-quarter financial results last month. The Boca Raton, Florida-based office supplier reported total sales of $2.5 billion, down 7% over the same period in the previous year. The company reported a net loss of $64 million, or $0.23 per share for the second quarter, compared to a net loss of $29 million, or $0.11 per share reported for the same period in the previous year.

Neil Austrian, Chairman and CEO, said last month that although the second quarter was challenging from both a revenue perspective and a year-over-year results comparison due to significant non-recurring benefits in 2011, ODP continued to execute its key initiatives and increased its gross margin for the fifth consecutive quarter.

ODP reported second-quarter EBIT loss of $22 million.

ODP’s North American Retail division had reported second quarter sales of $994 million, down 8% over the same period in the previous year. The company said that the decline was due to the closing of stores in Canada last year and additional closures in the U.S. since the second quarter of 2011.

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STVF has licensed intellectual property rights from Vineland Research and Innovation Centre. Under this agreement, the company has received exclusive and worldwide intellectual property license. The license comprises compositions and methods for preparing Steviol glycosides and steviol through fermentation based process. The company has also signed a separate consulting contract with Vineland. The second agreement will let Vineland assist STVF in developing the methods.

Robert Brooke, CEO of Stevia First Corp., said “The technology we’ve licensed represents a potential solution for this need, and one that our scientific team is eager to commercialize.” Jim Brandle, CEO of Vineland Research and Innovation Centre, added, “We’re very pleased to move this technology closer to the market via this license with Stevia First.”

STVF recently announced the appointment of its new vice president of Operations, Dr. J. Jeremiah Mann. Mann will also take on the role of senior agronomist.

STVF is involved in the business of cultivating and harvesting stevia leafs. The company also carries out various development plans for stevia products. It was earlier known as Legend Mining Inc. and changed its name in October 2011 to better reflect its core operations. The company is also engaged in other processes such as tissue culture, cultivation and laboratory propagation of stevia leaf. The company was formed in 2007 and is based out of Yuba City in California. STVF has not earned any revenue as on March 31, 2012.

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The company’s market capitalization stands at $64 million. PUNL  has 50  million shares outstanding in the market. PUNL is currently trading at the level of its short term 20-days moving average price of $1.26. It is also trading above its long term 50-days moving average price of $1.25. The company stock’s beta is 5.06.

PUNL reported that it has secured a new line of credit worth $1 million. The company is planning to use the proceeds for the purpose of acquiring gold exploration and development projects. The company will also be utilizing the proceeds for funding working capital requirements. Ramzan Savji, president and CEO of PUNL said, “The company continues to evaluate several gold projects for possible acquisition and anticipates making a formal offer to acquire interests in one or more projects over the next few weeks.”

PUNL has also passed the proposal to change the company name to Punchline Resources Ltd. The company has filed the application with FINRA for the purpose of securing approval. PUNL reported that the name has been changed to reflect the core business of the company. The company also reported the appointment of its new COO, Ramzan Savji. Ramzan has over 30 years of business experience in the banking sector.

PUNL is involved in the business of vending machines. The company installs vending machines at entertainment venues. It is mainly operational in the United States. The company also deals in strength testing gaming machines such as Boxers. These machines are installed in night clubs, pubs and bars in the Seattle area. PUNL is based out of Toronto, Canada. The company was established in 2006.

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The penny stock of GIHI ended the day 100% higher at $0.0024, with volume up from daily average of 3.52 million to 67.60 million. The stock gained more than 240% in the last three trading sessions.

GIHI earlier this month announced fresh incentives under its “America’s Layaway Mall” (ALM) online merchandise layaway shopping program.

ALM serves as a viable online shopping alternative for fiscally challenged consumers by offering quality name brand products at affordable prices, regardless of household income. ALM offers the products through credit alternatives and time-payment options.

Fred Rackers, President of Globalgroup Investment Holdings, said that with the weak economy many of the 50 million credit-challenged and cash-based households across the country will continue to see their retail spending decline and GIHI recognizes the purchasing power that exists in this vast demographic and wants to show its appreciation for their business through the Reward System by including various items such as MP3 players, smartphones and even complimentary tech support with extended warranties; all depending on the items purchased on ALM’s layaway platform.

Earlier this month, Globalgroup Investment announced that its subsidiary, Sovereign Oil Corp., has begun re-working O&G wells in Kansas. The company will initially re-work 2 of the 10 wells. The re-work is expected to be completed by the end of this month.

As per the terms of the Kansas joint venture leases, Sovereign Oil received a 50% working interest in the O&G wells for its investment. The joint venture plans to rework all 10 oil wells by the end of 2012.

Fred Rackers said that the secondary recovery drilling of the initial two wells in Kansas oilfields is just the beginning and reflects GIHI’s commitment to its subsidiary Sovereign Oil.

GIHI’s petroleum division expects annual revenue of approximately $300,000 on completion of the re-working and drilling of 10 joint venture wells.

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