Benzinga's Microcap Movers for Tuesday August 7, 2012
Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:
Crumbs Bake Shop
Shares of Crumbs Bake Shop (NASDAQ: CRMB), the New York City-based baked goods chain, rose 64.34% Tuesday on 133 times average volume.
On August 6, 2012, Crumbs Bake Shop issued a press release announcing that it has entered into an agreement with Starbucks (NASDAQ: SBUX) to bring the full compliment of Starbucks brewed coffees, teas and espresso-based drinks to all Crumbs Bake Shop locations.
Crumbs Bake Shop closed at $3.41 on Tuesday.
Shares of Spar Group (NASDAQ: SGRP), the Tarrytown, NY international in-store merchandising firm, rose 30.91% Tuesday on 206 times average, volume.
SPAR Group announced Tuesday second quarter 2012 financial results, including revenue of $24.3 million, gross profit of $6.7 million and net income attributable to SPAR Group, Inc. of $718,000. In the first six months of 2012 the Company achieved revenue of $45.4 million, gross profit of $12.5 million and diluted earnings per share of $0.05.
Spar Group closed at $1.44 on Tuesday.
China Shen Zhou Mining & Resources
Shares of China Shen Zhou Mining & Resources (NYSE: SHZ), the China-based developer of mineral properties, rose 21.05% Tuesday on 5 times average volume.
On March 23, 2012, China Shen Zhou Mining & Resources entered into Amendment No. 1 to the Securities Purchase Agreement, dated as of March 21, 2012, by and among the Company and certain institutional Investors, which related to the purchase and sale of shares of the Company's Series A Convertible Preferred Stock and warrants to purchase common stock of the Company described in the Company's prior Current Report on Form 8-K, dated March 21, 2012. Prior to the initial closing of the transactions contemplated by the Securities Purchase Agreement, which occurred on March 26, 2012, the parties thereto entered into Amendment No. 1 to provide for, among other things, the amendment and restatement of the Certificate of Designations, Preferences and Rights of the Series A Convertible Preferred Stock of the Company.
On August 7, 2012, the Company entered into a series of Amendment and Exchange Agreements with each of the Investors pursuant to which, among other things, the Company intends to amend the Amended Certificate of Designations to alter certain payment dates, and intends to exchange the Warrants held by the Investors for new warrants that contain essentially the same terms as the Warrants but for a reduction of the exercise price.
China Shen Zhou Mining & Resources closed at $0.45 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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