Friday, November 20, 2009

03:55 pm EST - Traverse Energy Ltd. : reported a net loss for the third quarter of $515,000 or $0.02 per share, compared to net income of $122,000 or $0.01 per share in the same quarter a year ago. Funds flow from operations for the third quarter of $31,000, down from $270,000 in the prior-year quarter. Quarterly revenue decreased to $120,000 from $384,000 in the previous year quarter. Traverse Energy Ltd. (V.TVL) shares were even at $0.48.

03:53 pm EST - Novik Inc. : reported net income for the third quarter of $93,000 or $0.002 per share, compared to $917,000 or $0.02 per share for the year-ago quarter. Revenue for the third quarter fell 33% to $4.87 million from $7.24 million in the prior-year quarter. Novik Inc. (V.NVK) shares were even at $0.21.

03:52 pm EST - AirIQ Inc. : posted third-quarter net loss and comprehensive loss of $397,000 or breakeven per share, compared to a net loss and comprehensive loss of $1.2 million or $0.01 per share in the previous-year quarter. Revenues for the quarter declined to $2.6 million from $3.0 million in the last-year quarter. AirIQ Inc. (T.IQ) shares were even at $0.01.

11:54 am EST - Gemini Corp. : reported a net loss for the third quarter of $45,000 or $0.001 per share, compared to net income of $556,000 or $0.015 per share for the year-ago quarter. Revenue in the third quarter rose 15% to $23.89 million from $20.81 million in the prior-year quarter. Gemini Corp. (V.GKX) shares were even at $0.25.

11:52 am EST - Parkbridge Lifestyle Communities Inc. : reported fiscal 2009 net income of $11.66 million or $0.19 per share, compared to $16.39 million or $0.26 per share in the prior year. Funds from operations for the year declined to $23.52 million or $0.38 per share from $26.02 million or $0.41 per share in the previous year. Total revenues from all operations fell to $118.41 million from $137.53 million a year earlier. Parkbridge Lifestyle Communities Inc. (T.PRK) shares were up $0.10 at $4.10.

11:51 am EST - Leader Energy Services Ltd. : reported a narrower third-quarter net loss of $790,000 compared with $1.09 million in the previous year. However, net loss from continuing operations for the latest quarter slightly widened to $2.45 million from $2.40 million a year ago. Revenue from continuing operations plunged to $1.79 million from $4.50 million in the comparable period. Leader Energy Services Ltd. (V.LEA) shares were down $0.005 at $0.12.

09:48 am EST - Liuyang Fireworks Limited : said its third-quarter net income was $402,000 compared with $478,000 in the prior-year period. Earnings per share for the recent quarter were $0.01 per share. Revenue for the quarter increased 28% to $4 million, from $3.1 million in the comparable period. Liuyang Fireworks Limited (V.FWK) shares were even at $0.63.

09:46 am EST - Northampton Group Inc. : said its second-quarter net income decreased to $277,875 or $0.010 per share from $633,813 or $0.024 per share in the prior-year period. Revenues for the quarter declined to $7.72 million from $9.14 million in the comparable period. Northampton Group Inc.
(V.NHG) shares were even at $0.65.

09:45 am EST - Stonefire Energy Corp. : announced that it has entered into a definitive agreement with Angle Energy Inc. by which Angle will offer to acquire all of the issued and outstanding shares, on a fully diluted basis, of Stonefire by way of a takeover bid. Under the Offer, Class A shareholders will receive $2.00 per share in cash and Class B shareholders will receive $10.00 per share in cash which values the proposed transaction at about $75 million including the assumption of approximately $25.3 million in net debt and transaction costs. The offer represents a 25.6% and a 43.7% premium to the previous 10-day weighted average trading price of Stonefire Class A shares and Class B shares on the TSX Venture Exchange respectively. The Offer will be subject to certain customary conditions, including acceptance of the Offer by holders of at least 66 2/3% of the outstanding shares of Stonefire calculated on a fully diluted basis, and receipt of all required regulatory approvals. Stonefire has agreed to pay Angle a non-completion fee in the amount of $2.25 million in certain circumstances if the proposed transaction is not completed. The Agreement includes customary non-solicitation covenants and right to match provisions. Stonefire Energy Corp. (V.SFE.A) shares were up $0.16 at $1.96.