DrStockPick.com Stock Report! 10/22/09, TBUS, PSFT, USAT, SIVC, CRZO, CFX
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Thursday October 22, 2009
DrStockPick.com Stock Report!
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Powersafe Technology Corp.’s (Other OTC: PSFT.PK) Subsidiary Amplification Technologies has patented a revolutionary new solid-state semiconductor technology solution for low-level signal detection: multichannel Discrete Amplification (DA). The patented DA platform technology, invented by company scientists, is a breakthrough in the design of photon detectors, providing these detectors with unique competitive advantages. Use of DA in semiconductor detectors increases their sensitivity markedly, and enables the creation of new detector systems for various applications including medical diagnostics, security systems, telecommunications, environmental monitoring and drug discovery.
DRI Corporation (NASDAQ: TBUS), a digital communications technology leader in the global surface transportation and transit security markets, announced today that the Company’s Mobitec AB (Mobitec) subsidiary in Sweden, through its business unit in Brazil, is in the process of receiving several order releases, the combined total value of which potentially exceeds $2.0 million USD, from a bus manufacturer in Brazil on behalf of a transit operator in Chile.
USA Technologies (NASDAQ: USAT) announced today the issuance to it by the US Patent Office of a patent that covers the cashless wireless payment trends sweeping the vending industry.
S3 Investment Company, Inc. (PINKSHEETS: SIVC) today announced that a client of the company’s wholly owned Redwood Capital subsidiary has completed a USD$10 million equity offering. China Infrastructure Construction Corporation, which is listed on the Over-the-Counter Bulletin Board market under the symbol CHNC, is one of the major U.S.-listed providers of ready-mix concrete in Beijing. The financing is twice as large as the amount originally planned and will allow China Infrastructure Construction Corporation to build on its strength as one of Beijing’s major ready-mix concrete suppliers.
Carrizo Oil & Gas, Inc. (Nasdaq: CRZO) Carrizo Oil & Gas today released an update to its exploration, development and production activities. The Company’s average production rate for the third quarter of 2009 is estimated to have been 89.2 MMcfe/day, an increase of over 35% from the same quarter last year.
Colfax Corporation (NYSE: CFX), a global leader in fluid-handling solutions for critical applications, announced today that its Warren Pumps subsidiary received a favorable ruling in its asbestos insurance case. The decision issued October 14, 2009, by the Delaware Court of Chancery confirmed that Warren is entitled to excess insurance coverage purchased by a former owner of the business. The Court also ruled that Warren’s asbestos-related costs should be allocated among excess insurers using an “all sums” allocation. This allows Warren to collect amounts paid in connection with a claim from any insurer whose policy is triggered, up to the policy’s applicable limits. This litigation and the decision are separate and apart from insurance litigation involving Colfax’s Imo subsidiary.
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