MICROCAP MOVERS FOR WEDNESDAY NOVEMBER 23, 2011
Below are highlights from Benzinga's daily coverage of microcap securities. Benzinga provides comprehensive, objective, and conflict-free coverage of the microcap sector in real-time at BenzingaSmallCap.com.
Legend Oil and Gas
Legend Oil and Gas (LOGL), the Seattle, WA oil and gas exploration/exploitation, development and production company, responded Wednesday to reports written by Isaac Silbermann, a short seller.
The reports were related to the management and directors of Legend Oil and Gas and were published by SeekingAlpha.com and released on November 20 and November 21, 2011.
Legend stated: 'It appears as though Mr. Silbermann's intent through the generation of these inflammatory articles, is to instill investor panic and create a downward trend in the Company's stock price. A fall in the Company's stock price would result in personal gain for Mr. Silbermann because he is short the stock. We strongly and vigorously deny the allegations made by Mr. Silbermann in his articles'
Legend Oil and Gas Shares traded at 11 times the average daily volume Wednesday, in a range of $0.58 to $1.39 and ended the day at $1.20, a gain of 93% for the day.
Calls by Benzinga into Legend Oil and Gas were not answered.
Sino-Global Shipping America
Sino-Global Shipping America (NASDAQ: SINO), the Flushing, NY based leading non-state-owned provider of shipping agency services operating primarily in China, announced Tuesday that it had signed a memorandum of understanding (MOU) with Wilson, Sons Shipping Agency, subsidiary of Wilson, Sons, a public company listed on the BM&FBovespa Exchange Brazil.
Under the terms of the MOU, Sino-Global will recommend Wilson, Sons to act as an agent to attend Sino-Global clients' vessels in Brazil and Wilson, Sons will recommend Sino-Global to act as its agent in China for its clients' vessels loading in Brazil and discharging in China .
Sino-Global shares traded Wednesday at 4 times the average daily volume on Wednesday in a range of $2.27 to $2.90 and closed at $2.36, a gain of 9% for the day.
Bourque Industries (BORK) the Tuscon, AZ materials science company dedicated to creating ultra high-performance super alloys using the Kryronization process, posted a second consecutive day of solid gains on Wednesday.
Shares of Bourque Industries traded Wednesday in a range of $0.92 to $1.10 and closed at $1.00, up 10% on 6 times average daily volume.
A company spokesperson said on Tuesday there had been no specific news related to the move, but it was most likely a technical bounce after several days of selling.
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