Network-1 Technologies, Inc. (OTCQB: NTIP) saw its share volume skyrocket on June 10th with 545,054 shares exchanging hands, six times higher than its three month daily average volume of 92,267 shares.
Network-1 Technologies, Inc. announced last week that its Board of Directors has authorized an increase to its previously announced share repurchase program pursuant to Rule 10(b)-18 permitting the Company to repurchase up to an additional $5,000,000 in shares of the Company's common stock over the next twelve months (for a total of up to $12,000,000 since inception of the program in August 2011). The Company had previously announced three increases in its share repurchase program (which was initially established at $2,000,000) totaling $5,000,000. To date, the Company has repurchased approximately 4,248,000 shares under its program at an average price of $1.37 per share.
"We are very pleased to announce yet another increase to our repurchase program to benefit shareholders at a time when we believe our stock is undervalued," said Corey M. Horowitz, Chairman and CEO of Network-1. "This, our third increase of our share repurchase program, reflects our confidence in the long-term potential for Network-1 and our commitment to increasing shareholder value," he added.
The increase in the share repurchase program was approved by the Company's Board of Directors as part of its ongoing consideration of alternative methods to take advantage of the Company's strong cash position. The Board of Directors believes that increasing the share repurchase program at this time is in the best interests of the Company and its shareholders, and will not impact the Company's ability to execute its growth plans.
NTIP closed the day at $1.89 on June 10th, 3.85% higher than its previous close of $1.82.
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Strategic Global Investments Announces Completion Of Pilot Segment for Television 101
Strategic Global Investments, Inc. (OTCPINK: STBV) saw its share volume surge on June 10th with 1,702,638,336 shares exchanging hands, nearly three times higher than its three month daily average volume of 614,784,919 shares.
This uptick in volume comes after Strategic Global Investments announced yesterday that television 101 has completed the pilot segment that its producers intend to present to networks as they prepare to launch syndication efforts.
"We have only scratched the surface on our demonstration of the potential of this unique show. As we get deeper into its production we intend to reveal as many angles as we are able to capture. It's truly a delicate niche to expose, but we have evaluated extensively and do believe that from lawmaker to physician, consumer to entrepreneur, each have an experience that will build the foundation of this industry as legalization continues. Our goal is to bring this history in the making into the homes of inquiring viewers nationwide." stated the Producers.
"It's fascinating to see how the show has taken shape thus far; It'll be exciting to see how it continues to evolve." Stated Andy Fellner, CEO of Strategic Global Investments.
Strategic Global Investments is a company engaged in providing its customers with various venues to reach their target audience with on demand programming or advertising through Wazillo.com and WazilloMedia.com. WazilloMedia.com is involved in the production of videos for customers and consumers permitting the use of the Company's state of the art studios to produce their own videos and the use of a website where subscribers can make available live, streaming video for their potential audience. The Company produces Internet content, taped video shows, in their state-of-the-art studios in San Diego, California, where the productions can be stored and replayed on Demand 24/7 through the Company's cutting edge Content Management System.
STBV closed the day at $.0002 on June 10th.
Medinah Minerals Accepts Joint Venture Offer
Medinah Minerals, Inc. (OTCPINK: MDMN) saw its share volume soar on June 10th with 10,918,935 shares exchanging hands, more than double its three month daily average volume of 3,924,039 shares.
Medinah Minerals, Inc. announced yesterday that its Chilean subsidiary, Medinah Mining Chile, has accepted a joint venture offer with regard to the Altos de Lipangue group of claims in Chile.
Medinah Minerals, Inc. officials will travel to Peru and Chile on June 23 to meet and perform due diligence as to the joint venture terms and conditions, and to determine timeline exploration development responsibilities of the respective parties. These steps will be undertaken to legalize the contract in compliance with Peruvian and Chilean mining laws.
MDMN closed the day at $.086 on June 10th, 22.86% higher than its previous close of $.07.
Vuzix Corp. Sees Uptick In Share Volume
Vuzix Corp. (OTCQB: VUZI) saw its share volume rise on June 10th with 198,195 shares exchanging hands, more than three times higher than its three month daily average volume of 64,301 shares.
Just last week, Vuzix Corp., a leading supplier of Video Eyewear and smart glasses products in the consumer, commercial and entertainment markets, reported that it has entered into a definitive agreement with institutional investors for the sale of $3 million in aggregate principal amount of 5% Senior Secured Convertible Notes due June 2, 2017.
Net proceeds from the sale will accelerate the Company's M100 offshore production ramp-up with its new features and software capabilities. A broader M100 marketing campaign internationally will also be launched. The proceeds will also facilitate the implementation of Vuzix' new waveguide manufacturing process equipment for use in Vuzix' next generation smart glasses products. In addition, the Company will pursue final designs and tooling for its V720 video headphone products.
Paul Travers, Chief Executive Officer of Vuzix, said "We are thankful for the continued support of our shareholders and their shared excitement about the future of Vuzix. The terms the investors have offered with its low interest rate, long maturity, no warrants, and minimal transaction costs are very favorable and demonstrates their sustained commitment to make Vuzix a market leader in the wearable technology space. This financing will allow us to advance our technology for implementation in next generation products all the sooner."
VUZI closed the day at $2.35 on June 10th, 9.62% lower than its previous close of $2.60.
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