Benzinga's Small Cap Movers for Friday December 21, 2012

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

Shares of Rainmaker Systems

, the Campbell, CA global cloud e-Commerce company, rose almost 15% Friday on twice average volume. Rainmaker Systems announced Friday, the sale of its Manila call center to Shore Solutions on December 17, 2012. Rainmaker decided to divest its Manila call center, as the operation no longer fits the long-term strategic plans of the company. For continuity and continued reach in the region, part of the agreement with Shore is to continue to utilize some of the key services currently utilized. Rainmaker Systems closed at $0.75 on Friday.

Shares of GSE Systems

, the Sykesville, MD global energy services solutions provider, rose 13% Friday on average volume. GSE Systems has appointed Steven Freel to Chief Operating Officer, a previously unfilled position, effective January 1, 2013. Freel will be responsible for all U.S. operations except for training, which remains under the direction of Phil Polefrone. Freel has been with GSE for 16 years, most recently as Chief Technology Officer. He holds a B.S. in Mechanical Engineering from Penn State University and an MBA with a focus on business strategy from the Smith School of Business at the University of Maryland. GSE Systems closed at $2.20 on Friday.

Shares of Timberline Resources

, the Coeur d'Alene, ID company, involved in the exploration advanced-stage gold properties in the western United States, rose 12.75% Friday on 6 times average volume. On December 19, 2012, Timberline Resources entered into an underwriting agreement with Aegis Capital Corp. as the representative of the underwriters named in the Underwriting Agreement. The Underwriting Agreement relates to the issuance and sale in a public offering by the Registrant of up to 5,000,000 shares of the Registrant's common stock. The Offering will be made in the United States under the Registrant's shelf registration statement on Form S-3 (Registration No. 333-181378), including a base prospectus dated May 22, 2012, as supplemented by a prospectus supplement dated December 20, 2012. The Underwriting Agreement, for a period of twelve months following the closing of the Offering, grants the Representative the right of first refusal to act as lead underwriter for each and every future public and private equity and public debt offerings during such period of the Registrant, or any successor to or any subsidiary of the Registrant. Timberline Resources closed at $0.23 on Friday.