Top 5 OTC-BB and Pinksheet Market Movers
American Green Group, Inc. (AMNE), Upturn Inc. (UPTR), Titan Pharmaceuticals, Inc. (TTNP), Seamless Corporation (SMWF), and Location Based Technologies, Inc. (LBAS) were among today’s top movers.
American Green Group, Inc. [[AMNE.PK]] shares moved 15 percent higher after it announced distribution agreements for two more counties in Florida for $500,000 to the same company that bought its first distribution county. The company believes that, as more people realize the benefits of Ecosafe insulation, more counties will be sold. Meanwhile, investors are bullish that this add-on sale is a positive signal for distribution agreements to come down the road.
Upturn, Inc. [[UPTR.PK]] shares moved more than 40 percent lower after heavy trading on Friday. The reason behind the strong moves were uncertain, with the company’s latest filing made back in March. With seemingly unjustified selling pressure, some traders are waiting for a bottom from which a rally can be mounted. However, long-term investors are best off waiting on the sidelines until more information surfaces regarding this company.
Titan Pharmaceuticals, Inc. [[TTNP.PK]] shares surged more than 15 percent as it continued to rally on the FDA’s approval of Fanapt for treatment of Schizophrenia. The company noted that global sales from the class of atypical antipsychotics exceeded $20 billion in 2007, and it plans to make Fanapt available in pharmacies later this year through its partner Vanda. Titan is entitled to 8 percent on annual sales up to $200 million and 10 percent on sales above $200 million.
Seamless Corporation [[SMWF.OB]] shares are trading down 20 percent after a sharp move to the upside last week. Last week, the company announced that its e-commerce web site will go live on June 1, 2009. The web site had over 10,000 visitors during the past four days leading up to May 22, 2009, and many traders and investors are looking forward to seeing the results of the platform over the next quarter.
Location Based Technologies, Inc. [[LBAS.OB]] shares are trading up marginally after it announced its new laptop product last week. The PocketFinder Laptop allows laptop owners to download software that turns their laptop into a personal location device with many of the same features and functionality of a PocketFinder device. The company also announced that it started shipping working PocketFinder and PetFinder units to strategic channel partners in the international markets.
CONTACT: Daniel Minton, Managing Director, 406-862-5400, daniel@accelerize.com