RRSat Global Communications Network Ltd. (Nasdaq:RRST) announced its financial results for the second quarter ended June 30, 2011. Second Quarter 2011 Results: Revenues in the second quarter of 2011 totaled $28.5 million, an increase of 5.9% compared with $26.9 million in the previous quarter and an 11.2% increase compared with $25.7 million in the second quarter of 2010. Gross Profit in the second quarter of 2011 totaled $6.6 million, representing a gross margin of 23.0%, compared with gross profit of $6.2 million in the previous quarter, representing a gross margin of 23.0%.
RRsat Global Communications Network Ltd. provides content management and distribution services to television and radio broadcasting industries.
Siga Resources Inc (SGAE)
Siga Resources Inc, founded in 2007, is based in South Lake Tahoe, California. Siga is a mineral resource exploration and development company. Siga’s strategy targets properties that have the potential for near term production and early positive cash flow. Siga’s general geographical interest is North and South America.
Gold is most malleable and ductile. One gram can be beaten into a sheet of one square meter. It readily forms alloy with many other metals. With copper it yields redder metal, blue with iron, silver produces green, aluminium-purple and platinum-white. Native gold contains generally 8-10% silver.
Gold is a good conductor of both heat and electricity. It is not affected by air and most regents. Heat, moisture, oxygen, and most of the corrosive agents have very little chemical effect on gold.
Siga Resources Inc. (SGAE) President and CEO, Edwin Morrow, is pleased to announce that Bentley Fairview Resources Co. Ltd., of Ontario, Canada, the Joint Venture Partner for the Big Bear Mining Claims located in San Bernardino County, California, has advanced the initial payment for the initiation of a work program on the Big Bear Mining Claims.
This is the initial payment of a $10,000,000 Joint Venture entered by the two companies with the goal of proving the indicated gold resources on the Big Bear claims and if warranted, developing the Big Bear property to possible production. Siga’s work program and the beginning of evaluation of the project are underway as of Aug 3, 2011.
The work program will consist of extensive mapping of existing trenches, outcrop, oxidized zones and other previous workings including drill sites. Geochem sampling of large areas of the claim group along with sampling of all pits and trenches will be conforming with previous mapped and sampled areas which returned assays of greater than .01 oz/ton gold in the soil geochem. These areas of greater than .01 oz/ton gold covered a large area of the claim group and give rise to the anticipated total indicated contained ounces of gold which could range from 1 to 2 million ounces.
The Big Bear project is currently controlled under an agreement to acquire 100 percent of the property. It is situated near Lucerne Valley, CA and currently consists of approx 1440 acres (approx 2.25 square miles) of mining claims. The Big Bear Claims are on the North eastern edge of the San Bernardino Mountains. The project area is known historically as the Blackhawk mining District has been a previous producer of gold and silver. The area is believed to contain economically viable gold mineralization, particularly at the current metals prices. Anticipated total contained gold based on existing reports and studies could be in the range of 2 to 3 million ounces.
Siga Resources is also developing the Lucky Thirteen Placer in British Columbia. Currently in a 50/50 Joint Venture, Siga has installed a 50 cubic yard/hour washing and separation plant and associated excavation machinery which is being employed for bulk sample testing to determine recoverable grades and aid design of a larger production facility which could be in place before year’s end.
For more information visit their website http://sigaresourcesinc.com
Merge Healthcare Incorporated. (Nasdaq:MRGE),a leading provider of enterprise imaging and interoperability solutions, and Ophthalmic Imaging Systems (OIS) (OTC.BB: OISI.OB), one of the country’s top providers of digital imaging and informatics solutions for ophthalmology and other medical specialties, announced the completion of Merge’s acquisition of Ophthalmic Imaging Systems (OIS) (OTC.BB: OISI.OB).
Merge Healthcare Incorporated provides health information technology interoperability solutions.
Greenlight Capital Re, Ltd. (Nasdaq:GLRE) announced financial results for the second quarter of 2011. Greenlight Re reported a net loss of $16.0 million for the second quarter of 2011 compared to a net profit of $17.7 million for the same period in 2010. The net loss per share was $0.44 for the second quarter of 2011, compared to a net income per share of $0.47 on a fully diluted basis for the same period in 2010. Fully diluted adjusted book value per share was $19.82 as of June 30, 2011, a 3.9% increase from $19.07 per share as of June 30, 2010.For the six months ended June 30, 2011, Greenlight Re reported a net loss of $59.0 million compared to net income of $5.3 million for the same period in 2010. The net loss per share was $1.63 for the six months ended June 30, 2011, compared to net income of $0.14 on a fully diluted basis for the same period in 2010.
Greenlight Capital Re, Ltd., through its subsidiary, Greenlight Reinsurance, Ltd., operates as a specialty property and casualty reinsurer.
Cleantech Transit, Inc. (CLNO)
Cleantech Transit Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. The Company has expanded its focus to invest directly in specific green projects. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy, Cleantech has selected to invest in Phoenix Energy (www.phoenixenergy.net). This project could benefit the Company’s manufacturing clients worldwide.
Biomass is an important renewable resource that can be used as a fuel for producing electricity and other forms of energy. Biomass feedstock, or energy sources, is any organic matter available on a renewable basis for conversion to energy. Agricultural crops and residues, industrial wood and logging residues, farm animal wastes, and the organic portion of municipal waste are all biomass feedstock.
Cleantech Transit, Inc. (CLNO) is pleased to announce it has met its funding requirement to secure the Company’s ability to earn in 25% of the 500KW Merced Project.
The Company is in the final stages of closing its initial interest in the Merced Project and is currently working on completing the necessary documentation and expects closing the transaction soon. As previously announced Cleantech has the option to earn up to 40% of the Merced Project and the Company plans to continue to work towards increasing its interest in the Merced Project as they move ahead.
For more information about Cleantech Transit, Inc. visit its website www.cleantechtransitinc.com
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