Benzinga's Microcap Movers for Tuesday November 6, 2012
Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:
Shares of Monster Offers (OTC: MONT), the Laguna Niguel, CA Daily Deal analytics provider and aggregator collecting daily deals from multiple sites in local communities across the U.S. and Canada, rose 42.50% Tuesday on 63 times average volume.
Monster Offers today announced that management has determined that the exchange ratio for the proposed merger with Ad Shark, Inc., a privately held California corporation, will be 4.38:1. Under the terms of this transaction each 4.38 shares of Ad Shark would be converted into the right to receive one (1) share of Monster Offers. As previously reported, the pending merger remains on track for completion.
Monster Offers closed at $2.85 on Tuesday.
Shares of Omnitek Engineering (OTC: OMTK), the San Marcos, CA developer of new natural gas engines, as well as a proprietary technology to convert any diesel engines to a natural gas engine, rose 21.50% Tuesday on 3 times average volume.
Omnitek released their 10-Q on Monday. Revenues increased to $562,367 for the three months ended September 30, 2012 from $317,160 for the three months ended September 30, 2011, an increase of $245,207 or 77%. The company expects sales for the remainder of 2012 to be on a par with or somewhat higher than 2011 while they complete additions to their product offerings.
During the nine months ended September 30, 2012, the company received proceeds of $5,536,762 of cash from a private placement offering and $40,000 from the borrowing of funds. The company repaid the $40,000 during the nine months ended September 30, 2012.
Omnitek Engineering closed at $1.30 on Tuesday.
Car Charging Group
Shares of Car Charging Group (OTC: CCGI), the Miami Beach, FL provider of nationwide public EV charging services, rose 8.64% Tuesday on almost 4 times average volume.
Car Charging Group now provides EV charging services at Fairmont Plaza in San Jose, CA. Car Charging's EV charging services are now available in the parking garage of the office building located at 50 San Fernando Street in San Jose.
Car Charging Group closed at $1.76 on Tuesday.
The information in this article is taken from public sources, press releases, and websites that cannot always be verified. Please note that investing in microcap stocks is highly speculative. The companies mentioned here are for information purposes only. Benzinga makes no claim as to the suitability of these stocks as an investment. Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.
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