Blue Earth Resources, Inc. (OTCPINK: BERI) saw its share volume explode on June 5th with 1,082,232 shares exchanging hands, 65 times higher that its three month daily average volume of 16,482 shares.
Blue Earth Resources, Inc., an oil and gas exploration and production company, reported today the work over and perforation results of the Hunter Mannies #1, located in Desoto Parish, Louisiana.
Hunter Mannies #1 was brought back online after a successful workover. The well has achieved initial peak production rate of 8 barrels per day, with a cut of 95% oil and 5% water after the perforation of the zone and two new zones. The well also has gas pressure showing. After consulting with the Company's advisory team, it is their opinion that the old perforations were blocked and not allowing the oil and water to reach the borehole.
John Lai, President of Blue Earth Resources stated, "This is a significant result given that there are 12 other oil and gas wells on the Spyder Field." "Management believes the never produced formations on the 12 wells are also prospective for oil and natural gas."
BERI closed the day at $.761, 11.91% higher than its previous close of $.68.
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TechPrecision Corp. Enters Into LSA With Utica Leasco, LLC.
TechPrecision Corp. (OTCQB: TPCS) saw its share volume skyrocket on June 5th with 900,379 shares exchanging hands, six times higher than its three month daily average volume of 148,270 shares.
TechPrecision Corporation, through its wholly owned subsidiaries, Ranor, Inc., and Wuxi Critical Mechanical Components Co., Ltd., globally manufactures large-scale, metal fabricated and machined precision components and equipment. These products are used in a variety of markets including: alternative energy (Solar and Wind), medical, nuclear, defense, industrial, and aerospace to name a few. TechPrecision's goal is to be an end-to-end global service provider to its customers by furnishing customized and integrated "turn-key" solutions for completed products requiring custom fabrication and machining, assembly, inspection and testing.
On May 30, 2014, TechPrecision Corporation through its wholly owned subsidiary, Ranor, Inc., entered into a Loan and Security Agreement (the "LSA") with Utica Leasco, LLC. Pursuant to the LSA, Utica agreed to loan $4.15 million to Ranor under a Credit Loan Note, which is collateralized by a first secured interest in certain machinery and equipment at Ranor. Payments under the LSA and Note are due in monthly installments with an interest rate on the unpaid principal balance of the Note equal to 7.5% plus the greater of 3.3% and the six-month LIBOR interest rate, as described in the Note. Ranor's obligations under the LSA and Note are guaranteed by the Company.
TPCS closed the day at $.652, 41.74% higher than its previous close of $.46.
Rightscorp, Inc. Sees Share Volume Continue To Rise
Rightscorp, Inc. (OTCQB: RIHT) saw its share volume soar on June 5th with 877,702 shares exchanging hands, four times higher than its three month daily average volume of 218,992 shares.
Rightscorp (RIHT) is a leading provider of monetization services for artists and holders of copyrighted Intellectual Property (IP). The Company's patent pending digital loss prevention technology focuses on the infringement of digital content such as music, movies, software, and games and ensures that owners and creators are rightfully paid for their IP. Rightscorp implements existing laws to solve copyright infringements by collecting payments from illegal file sharing activities via notifications sent through Internet Service Providers (ISPs). The Company's technology identifies copyright infringers, who are offered a reasonable settlement option when compared to the legal liability defined in the Digital Millennium Copyrights Act (DMCA). Based on the fact that 22% of all Internet traffic is used to distribute copyrighted content without permission or compensation to the creators, Rightscorp is pursuing an estimated $2.3 billion opportunity and has monetized major media titles through relationships with industry leaders.
RIHT closed the day at $.505, 17.44% higher than its previous close of $.43.
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