Benzinga's Microcap Movers for Wednesday July 25, 2012
Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:
Shares of HyperSolar, (HYSR), the Santa Barbara, CA developer of technology to make renewable hydrogen using sunlight and any source of water, rose 15.62% Wednesday on 9.5 times average volume.
HyperSolar announced Wednesday that it has completed an end-to-end laboratory scale demonstration using renewable hydrogen produced from sunlight and water to generate electricity in a fuel cell.
HyperSolar closed at $0.04 on Wednesday.
Zale Corporation (NYSE: ZLC), the Irving, TX jewelry retailer, rose 22.73% Wednesday on 14 times average volume.
Zale announced that Tuesday it has secured a new $665 million credit facility, which includes an amended and extended $650 million Revolving Credit Facility and a new $15 million First-In, Last-Out Credit Facility. The company also announced that it utilized increased availability from these facilities to fund a prepayment of $60.5 million on its Senior Secured Term Loan. In addition, Zale amended and extended its Senior Secured Term Loan with Golden Gate Capital for the remaining $80 million.
Zale Corporation closed at $3.16 on Wednesday.
Shares of Iconoc Brands (ICNB), the Lynbrook, NY development stage company , rose 400% Wednesday on 4.2 million shares.
Iconic Brands announced a corporate update Wednesday, as related to ongoing operations and forward looking plans. As previously announced in September of last year our wholly owned subsidiary, Iconic Imports Inc. was forced to file chapter 7 bankruptcy when a senior creditor foreclosed on the subsidiary assets. The bankruptcy hearing has been held without claim and is pending discharge. There is no effect on the capital structure; the company maintains approximately 52 million shares outstanding with approximately 20 million in the public float.
In the interim we have aggressively started the process to update our financials and engage in new business opportunities to create value for our shareholders. We anticipate having all of the financials updated by no later than the third quarter ending September 30th, 2012. We have put up a simple website to provide information while going through this process.
Iconic Brands closed at $0.03 on Wednesday.
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.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.