Tauriga Sciences Inc.'s (OTCQB: TAUG) enjoyed strong volume Apr. 24, with 8,234,091 shares changing hands.
The robust stock volume comes on the heels of the Danbury, Conn.-based medical device maker’s confirmation that, in addition to the $900,000 it raised as previously disclosed in the Current Report on Form 8-K filed on Apr. 4, 2014, the company has raised additional capital exceeding $200,000 at the same terms.
This private placement capital was secured at a price of 6 cents per share ("$0.06") from various institutional and accredited individual investors, which brings the total raised since Mar. 31, 2014 to more than $1, 100, 00 all at $0.06.
No Warrants or Registration Rights
There were no warrants or registration rights offered in conjunction with this private placement financing and the shares issued are "restricted securities" as defined by Rule 144 of the Securities Act of 1933, as amended. According to Tauriga, this additional private placement capital has strengthened the company's balance sheet and enabled the Company to significantly reduce its outstanding convertible debt; which as of Apr. 23, 2014 is less than $350,000 USD.
The company said it believes that it is making meaningful progress in its efforts to commercialize Pilus Energy's proprietary fuel cell technology and is continuing to work towards the completion of its pending acquisition of Honeywood LLC.
Lastly, Tauriga said it stands by its commitment to repay and retire any remaining convertible debt and is hopeful that this important goal will be realized in the near term.
On Apr. 24, TAUG’s share price closed at 5 cents, unchanged from the share price of the previous day.
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Max Sound Corp. Signs 8-Year Pact with Big Fish Music Brands
In the digital audio sector, Max Sound Corp.’s (OTCQB: MAXD) stock volume soared Apr. 24, with 4,324,503 changing hands, nearly six time more than its three-month average of 725,689 shares.
The sudden surge in volume is being fueled in part by the Santa Monica, Calif.-based digital audio company’s announcement that it has entered into an eight year business development partnership with Big Fish Music Brands.
Create a Broad Adoption
According to Max Sound, Big Fish is a premier brand and channel management specialist that specializes in markets related to products for musicians, commercial audio, broadcast and recording. Together the two companies plan to create broad adoption of the MAX-D Technology across six music-oriented vertical markets.
MAX-D added that it is quickly flexing its muscle in the consumer electronics and smart design space, and this new partnership will pioneer new applications specifically for music professionals.
These specific "markets" include: Musical Instruments, Pro Audio/ Video, DJ/ EDM, Contract Audio, Broadcast and Recording. Combined, these "markets" generate nearly $20 billion in annual sales and MAX-D can have a positive impact on the majority of the industry's products.
Big Fish anticipates beginning its sales and marketing initiative in May, with a goal of having MAX-D fitted products to market by November 2014. Followed by a major launch at the NAMM 2015 Trade Show in January 2015.
On Apr. 24, MAXD’s share price closed at 11 cents, up 2 cents from the previous day’s share price of 9 cents.
Bitcoin Shop Inc. Moves Headquarters to Arlington, Virginia
Meanwhile, Bitcoin Shop Inc. (OTCQB: BTCS) stock volume on Apr. 24, continued to soar, with 2,977,766 shares changing hands, more than three times its three-month average of 836,282 shares.
This comes on the heels of the bitcoin e-commerce company’s announcement of the opening of its new corporate headquarters at 1901 N. Fort Myer Dr., Suite 1105 Arlington, VA 22209
Charles Allen, Chief Executive Officer of Bitcoin Shop, commented, “We are pleased to move into our new space with increased capacity and room for growth. Strategically, the Washington, D.C. metro area provides us with access to virtual currency influencers and technology resources. Our location in Arlington, VA is within walking distance to D.C., and provides a great fit for access, resources and a base for attracting and recruiting the top talent we need to support our plans for growth.”
However, despite this positive news, Bitcoin’s share value continued its downward spiral. Just one short month ago, BTCS share price closed at 48 cents. On Apr. 25, BTCS share price closed at 27 cents, up 5 cents from its close of 32 cents the previous day.
Surge initially based on Hype
On Feb. 10, Bitcoin shop’s share price was more than $4 as a result of the excitement and curiosity swirling around anything to do with the mysterious new Internet currency Bitcoin. But part of the boost was a direct result company launching a new ecommerce website (www.bitcoinshop.us) where consumers can purchase products using virtual currency such as Bitcoin, by searching through selection of over 400 categories and over 140,000 items.
But it appears the hype surrounding the new site has worn off fast among shareholders who might be wondering just how all this will translate into profits, rather than losses. This is especially true with all of the negative news surrounding the Bitcoin currency lately, including the Mt. Gox Bitcoin exchange bankruptcy filing.
A Murky and Unregulated Currency
Bitcoin is a digital or virtual currency that uses peer-to-peer technology to facilitate instant payments. Bitcoin is categorized as a cryptocurrency. That’s because it uses cryptography for security, making it difficult to counterfeit. Bitcoin issuance and transactions are carried out collectively by the network, with no central authority, and allow users to make secure, verified transfers.
Although true believers in the digital currency minimize its risks, industry experts recommend using extreme caution when evaluating companies involved with it. Only time will tell which view is the most accurate.
Techne Corp.’s Subsidiary to Acquire Shanghai PrimeGene Bio-Tech Co.
In other news, Techne Corp. (NASDAQ: TECH) announced that its R&D Systems China Co. Ltd. subsidiary has entered into an agreement to acquire 100% of the ownership interest of Shanghai PrimeGene Bio-Tech Co. (PrimeGene).
According to Techne, PrimeGene is a leader in the China market in the development, manufacture and distribution of recombinant proteins for research and diagnostic applications. The transaction is expected to close in the fourth quarter of fiscal 2014, subject to the satisfaction of certain closing conditions. The acquisition is not subject to any financing contingencies.
R&D Systems, a member of the Bio-Techne group, is a developer and manufacturer of purified cytokines (proteins), antibodies, immunoassays and biologically active small molecules, which are sold to biomedical researchers and clinical research laboratories. PrimeGene and R&D China will collectively operate under the leadership of Managing Director Dr. Wendy Shao after close of the transaction.
Positioned to Capitalize on Domestic Growth
PrimeGene was founded in 2006 and is based in Shanghai, China. Many of its recombinant protein products can be used in both research and pre-clinical studies. Techne said it believes PrimeGene is well positioned to capitalize on rapid domestic growth driven by the increasing attention to basic sciences, as well as Bio-Techne's worldwide reach into adjacent research markets.
PrimeGene had product sales of approximately $4 million in calendar 2013 and, therefore, the acquisition will not have a material effect on Bio-Techne's fourth quarter fiscal year 2014 or fiscal 2015 sales. The PrimeGene ownership interest will be acquired for cash, subject to adjustment following closing based on the final level of working capital of PrimeGene.
Of the 5 analysts that cover TECH, 3 recommend a “strong buy,” while 2 recommend a “hold.”
On Apr. 24, TECH’s share price closed at $85.32, down 35 cents from the previous day’s share price of $85.67.
Irwin "Izzy" Zalcberg Buys Undisclosed Number of TechnoConcepts’ Shares
Finally, TechnoConcepts Inc. (PINK: TCPS) stock volume skyrocketed Apr. 24, with 99,209,920 shares changing hands, 16.5 times its three-month average volume of 6,378,013 shares.
This uptick in volume comes on the heels of the California-based technology company’s announcement that legendary micro-cap investor Irwin "Izzy" Zalcberg has bought an undisclosed number of shares in TechnoConcepts, Inc.
The company then went on to explain why its foray into the medical marijuana business has statistical promise:
"Over the last couple of years, several states have embarked on the legalization of marijuana for medical purposes. The overwhelming approval of medical marijuana has afforded a huge opportunity for proprietors and investors."
The U.S. legal marijuana market is now assessed at $1.44 billion. The five year national market potential is now approximately $10.2 billion, which is more than a 700% increase over the current market value. Gains will come in the form of increased demands in existing markets as well as new state markets that become approved over the coming years. Adult use of marijuana in Washington and Colorado is projected to add $208 million and $359 million respectively to their markets in 2014 (statistics from Medical Marijuana Business Journal and Pew Research).”
Mr. Suarez, Chairman and CEO of TechnoConcepts, said, "As we look to increase shareholder value, we are excited to have investors such as Mr. Zalcberg demonstrate his faith in the initiatives we have undertaken by taking an equity position in our Company."
On Apr. 24 TCPS’s share price closed at 0.0075 cents, down 0.0019 cents from the previous day’s share price of 0.0094 cents.
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