Benzinga's Microcap Movers for Wednesday October 3, 2012

Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:

Shares of Vringo

, the New York-based developer of video ringtones and holder of mobile and Internet search patents, rose 39.16% Wednesday on 7 times average volume. Vringo received a favorable court ruling on Wednesday, as the judge overseeing the company's patent dispute with Google denied Google's request for a summary judgment. The parties were ordered to engage in settlement discussions between United States magistrate, Judge Lawrence R. Leonard at 10:30am, Tuesday October 9, 2012. Vringo closed at $4.30 on Wednesday.

Shares of Biolase

, the Irvine, CA dental laser company, rose 33.73% Wednesday on 49 times average volume. Biolase, the world's leading dental laser manufacturer and distributor, today announced that it has received 510(k) clearance from the U.S. Food and Drug Administration and Conformité Européene Mark approval for its EPIC 10™ diode soft tissue laser. BIOLASE initiated commercial sales in the final days of the third quarter of 2012 throughout the European Union and in those Asian and Latin American countries that recognize the CE Mark. The Company received notification of clearance from the FDA on October 1, 2012, and immediately began offering the EPIC 10 for sale in the U.S. Biolase closed at $2.22 on Wednesday.

Innovaro

, the Tampa, FL consulting company, rose 28.57% Wednesday on 5 times average volume. In an 8-K filing on Wednesday, Innovaro reported that on September 27, 2012, they entered into a securities purchase agreement with JJJ Family LLLP pursuant to which they agreed to issue to the Buyer, in a registered offering, 531,915 shares of common stock priced at $0.47 per share along with a Series B warrant to purchase up to 531,915 shares of common stock with an exercise price of $0.47 per share of common stock. The offering will raise gross proceeds to Innovaro of $250,000 before offering expenses. The Series B warrant will be exercisable for a five-year period commencing on the six month anniversary of the date of its issuance. The Securities Purchase Agreement provides the Buyer with the right to participate in future offerings of securities, in an amount up to $250,000 in each offering, for a period of one year after the date of the sale. Innovaro closed at $0.63 on Wednesday.