Benzinga's Microcap Movers for Monday October 22, 2012
Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:
Urban Barns Foods
Shares of Urban Barns Foods (OTC: URBF), the Vancouver, BC grower of green leaf vegetables, rose 63.64% Monday on 7.5 times average volume.
Urban Barns Foods announced Monday they have accepted subscriptions for a total of $260,000 at .01 cent and an additional $50,000 at .025 cents. The Company is currently in discussions with several institutional and high net worth investors to finance the Company's first facility for commercial production of locally grown vegetables to be located on the West Island of Montreal. The Company has budgeted $2 Million US for the purchase and construction of some 44 Cubic Farming™ machines. Forty of these machines are for commercial production and four machines are for research and development (R&D) initiatives. The additional R&D machines will compliment the existing five machines in the Langley, British Columbia facility.
Urban Barns Foods closed at $0.09 on Monday.
DayStar Technologies (NASDAQ: DSTI), the Milpitas, CA manufacturer of solar photovoltaic products, rose 11.36% Monday on 3 times average volume.
DayStar Technologies entered into LOI agreement to acquire Grasshopper Energy, with the anticipation of completing the purchase in 30 days.
Grasshopper Energy provides turnkey solutions for solar power systems, having one of the largest and most respected presences in Ontario, Canada. The purchase is a 100% equity transaction.
DayStar Technologies closed at $1.47 on Monday.
L & L Energy
Shares of L & L Energy (NASDAQ: LLEN), the Seattle, WA coal-mining company, rose 16.93% Monday on 8 times average volume.
L & L Energy announced Monday that it expects to finalize the acquisition of two new mines, the LuoZhou Mine and LaShu Mine in China, in the next 30 days.
The two mines produce low sulfur, high BTU, anthracite coal with approximately 34.2 million tons of combined coal reserves. LuoZhou has 27 million tons of reserves and in accordance with the newly adopted mining standards set by government, has completed its trial production. It is anticipated to produce at an initial annual rate of 200,000 tons in December, ramping up to its approved rate of 300,000 tons per year over the subsequent months. LuoZhou is targeted to expand to 450,000 tons by the end of 2013. LaShu is starting its trial production process and will initially produce at a rate of 150,000 tons per year and ramp up to its approved rate of 300,000 tons. Both mines are currently owned by Union Energy, a partner of L&L.
L & L Energy closed at $2.28 on Monday.
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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