New York, NY – (NISMAGAZINE) – 4/11/2013- FOY JOHNSTON INC (PINK:FOYJ) crashed 25% to $0.0003 after trading very high volume of 402.38 million shares. Its subsidiary, Cameroon Mines Ltd is a privately held junior mining explorer and producer committed to developing strategic mining exploration and project opportunities in Gold, Precious gems, Rare Earth Metals and Platinum Group Metals. The company has already acquired a portfolio of Gold and Diamond exploration tenements in key mineral regions of Cameroon and Central African Republic. The company last week updated the status on its exploration work in Cameroon, and said it was using several exploration dredges on its properties to determine the extent of the mineralization that is present. The results have lived up to expectations and the Company is sitting on some very rich and very lucrative deposits of alluvia gold. It is notable that the cost of extraction of these deposits is significantly lower than underground or even strip mining operations, which will result in a much higher profit after all costs have been figured into the operation, the company claimed in its press release. The company also announced today that its Board of Directors have significantly reduced the issued and outstanding shares by getting the two majority shareholders to donate back to treasury 100,000,000,000 shares of stock, reducing the outstanding share amount to 28,127,145,000, an over 78% reduction in the outstanding share amount. The reduction will result in an increase in the value of the remaining shares held by existing shareholders.
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Antares Pharma Inc (NASDAQ:ATRS) gained 1.42% at $3.57 after trading nearly 1 million shares. The company is a revenue-generating product focused specialty pharmaceutical company that has developed three proprietary platforms, two of which now include FDA approved products. The company announced April 5 that it received received a Notice of Allowance from the U.S. Patent Trade Office (USPTO) on a patent application for the VIBEX™ QuickShot device, the latest advancement in its proprietary line of VIBEX™ auto-injector systems. Paul K. Wotton, Ph.D., President and Chief Executive Officer, stated, “We believe that many injectable drugs currently under development will be administered by self-injection once they reach the market. Our advancing technology will therefore be important for the growing number of chronic care products that can only be given by injection.”
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Globalstar, Inc. (PINK:GSAT) fell by 10% to $0.270 after trading over 654,000 shares. Globalstar is a leading provider of mobile satellite voice and data services. Globalstar offers these services to commercial customers and recreational consumers in more than 120 countries around the world. On April 1, the company announced that it has entered into a forbearance agreement with the holders of approximately 78% of its 5.75% Convertible Senior Notes due 2028. The forbearance agreement is intended to provide Globalstar a further opportunity to negotiate a restructuring of the Notes until 11:59 pm (EDT) on April 15, 2013. Globalstar and the holders of the Notes are actively negotiating the terms of a potential restructuring arrangement of the Notes with the objective of reaching agreement by the end of the forbearance period. If Globalstar is unable successfully to negotiate and complete a debt restructuring, it intends to explore other available restructuring and reorganization alternatives.
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