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Entertainment accessory provider Mad Catz (MCZ) http://www.madcatz.com/ trading on the AMEX in the $0.29 range on an average 3-Month daily trading volume of 306,334 shares with a market cap of $15.98 million released 2009 quarterly and fiscal year end numbers and shares leaped at the open of trading.
The good news... MCZ posted a fiscal 2009 net sales rise of 28.3% (a record) or $112.6 million and a fourth quarter net sales rise of 3.9% (a record) or $22.8 million. Gross profit for the fiscal year increased 10.8% to $32.0 million from $28.9 million in the prior fiscal year.
The bad news... Reflecting a $27.9 million pre-tax non-cash goodwill impairment charge, as well as a tax expense of $4.0 million in the fiscal fourth quarter for a valuation allowance relating to the deferred tax asset at the Company's US subsidiary, MCZ incurred a net loss for the year ended March 31, 2009 of $32.6 million, or a loss of $0.59 per diluted share.
The solution; get rid of all the obstacles and clean up the books; which they've hopefully done this time around. An investor should read the fiscal and quarterly filing.
MCZ engages in the design, manufacture, marketing, and distribution of accessories for video game platforms, personal computers, and audio devices. Its products include video game, personal computer, and audio accessories, such as control pads, steering wheels, joysticks, memory cards, video cables, light guns, flight sticks, dance pads, microphones, car adapters, carry cases, mice, keyboards, and headsets. The company also markets game enhancement products and publishes video games.
At $0.29, MCZ is well below its 52-week high of $0.80 set on 09-02-08 (a good buy signal) and is nearly double its 52-week low of $0.15 set on 02-19-09. MCZ has trailing twelve month revenues of $111.75 million and the stock is very stable with its shares out versus float at near-parity.
A big volume gainer today is Spherix Inc., (SPEX) http://www.spherix.com/ trading in the $1.50 range on the Nasdaq. SPEX has an approximate market cap of $2.97 million and an average 3-Month daily trading volume of 28,730 shares (which it more than quadrupled today).
SPEX said yesterday its developing diabetes treatment Naturlose met its key goal of reducing glucose levels in patients. The mid-stage, or Phase II, clinical trial tested doses ranging from 2.5 grams to 7.5 grams. Full study results are expected to be complete in early 2010. The company has a larger late-stage, or Phase III, study testing a 15-gram dose.
Spherix's shares surged 85 cents yesterday, or 84 percent, to close at $1.86. SPEX stock earlier reached a two-year high of $2.67. SPEX engages in the research, development, and commercialization of products primarily for the treatment of Type 2 diabetes. It principally offers Naturlose, which is in Phase III clinical trials for the treatment for Type 2 diabetes. Naturlose is the brand name for tagatose, a naturally occurring sugar, which is a low-calorie and full-bulk sweetener.
At $1.50, SPEX is off yesterday's 52-week high, but far, far above its 52-week low of $0.20 set on 12-31-08 and is ahead of both its 50-day and 200-day moving average. Its shares versus float is near-parity.
A FIVE DAY CHART ON SPEX
On news today that it has successfully demonstrated a new type of low cost, high reliability and power, liquid electrolyte based direct methanol fuel cell that does not require air to operate, Neah Power Systems (NPWS) http://www.neahpower.com/ trading on the OTCBB in the $0.05 range posted gains past 228%. NPWS's average 3-Month daily trading volume is 675,542 shares and today, it skyrocketed past 23,311,570 shares.
NEAH's methanol cell is the first major innovation in fuel cell technology in over 20 years, where a repeatable, reliable non-PEM based system has been successfully introduced and demonstrated in sustained operation. Neah supplies power solutions for the U.S. military including: notebook personal computers, military radios, and other power-hungry computer, entertainment, and communications products.
The NEAH directmethanol fuel cell (DMFC) generates electrical power using methanol as fuel. At a nickel, NEAH is well past its 50-day and 200-day moving averages and its shares out versus float are near-parity.
