AGORACOM Small Cap TV - May 6th - Highlights
posted on
May 06, 2011 09:06AM
Good morning to you all. Please find enclosed a summary of the breaking small-cap and micro-cap financial news we highlighted on AGORACOM Small Cap TV this morning. It’s May 6th, 2011, and we’ve found 3 great press releases to report on at the open. Another great day for small-cap and micro-cap financial news. To watch the show live every morning at 9:30 AM, visit our front page.
Cortex Business Solutions Inc. Announces $5,004,000 Million Bought Deal Financing
CORTEX BUSINESS SOLUTIONS INC CBX
Cortex Business Solutions Inc. (TSX VENTURE:CBX) (the "Company") announces that it has entered into an agreement with a syndicate of underwriters (the "Underwriters"), led by Stonecap Securities Inc., whereby the Underwriters have agreed to purchase, on a bought deal basis, 11,120,000 units (the "Units") from treasury of the Company at a purchase price of $0.45 per Unit (the "Issue Price") for gross proceeds of $5,004,000 (the "Offering").
Each Unit shall consist of one common share (the "Common Shares") and one-half of one common share purchase warrant (the "Warrants"). Each whole Warrant shall entitle the holder thereof to acquire one common share of the Company at $0.60 for 18 months following Closing.
The Company has granted the Underwriters an option to purchase up to an additional 15% of the Units at the Issue Price exercisable up to 48 hours prior to closing of the Offering for additional gross proceeds of up to $750,600.
The net proceeds of the Offering will be used for expanding marketing and business development in the United States, sector expansion, working capital and general corporate purposes.
About the company
Cortex Business Solutions is an enterprise eProcurement solutions company that improves efficiencies, reduces costs and streamlines procurement and supply chain processes for its customers.
Last: 0.455Range: 0.55-0.335Market Cap: 71 million
Command Center Announces Revenue of $5.83 Million for the Month of April
Command Center, Inc. (OTCBB: CCNI) (http://www.otcmarkets.com/stock/CCNI/quote), a national provider of on-demand and temporary staffing solutions, today announced revenue of $5.83 million for the four-week reporting period of April 2011, a 46% increase on revenue of $3.99 million recorded in April 2010. There were 53 company-owned stores in April, as compared with 50 stores one year ago.
The company plans to issue financial results for Q1 '11 on or before May 13.
About Command Center, Inc.
The company provides on-demand employment solutions to businesses in the United States, primarily in the areas of light industrial, hospitality and event services, as well as other assignments. Additional information on Command Center is available at www.commandonline.com.
Last Trade: 0.4152 Week: 0.56 – 0.165Market Cap; 23.04 Million
Viking Systems, Inc. (OTCBB:VKNG), a leading worldwide developer, manufacturer and marketer of 3D and 2D visualization solutions for complex minimally invasive surgery, today announced results for the first quarter ended March 31, 2011.
Financial Highlights for the Quarter
--Sales increased 63% to $3.1 million in the first quarter of 2011 from
$1.9 million in the first quarter of 2010, with the increase attributed
to increased sales of Vikings' 3D vision systems.
--The Company sold 21 3D systems during the quarter compared with one 3D
system in the first quarter of 2010.
--Due to the increase in sales, gross profit for the quarter was $0.7
million compared with $0.5 million in the same period in 2010. Gross
profit as a percent of sales declined due to the number of the 3DHD
distributor demonstration systems sold at a discounted price.
--Operating expenses increased to $1.2 million during the quarter from
$0.8 million in the first quarter of 2010 primarily due to increased
sales and marketing expense and the promotional costs related to the new 3DHD system.
--Net loss for the quarter was $0.4 million or $0.01 per share, compared
with $0.3 million or $0.01 per share in the first quarter of 2010.
About Viking Systems, Inc.
Viking Systems, Inc. is a leading worldwide developer, manufacturer and marketer of 3D and 2D visualization solutions for complex minimally invasive surgery. It actively markets and sells the only stand alone, cost-effective 3D system for use in minimally invasive laparoscopic surgery.
Last Trade: 0.2552 Week: 0.495 – 0.18Market Cap: 14.7 Million