POMPANO BEACH, FL – January 2, 2013 - - Southridge Enterprises Inc (PINKSHEETS: SRGE) the last traded price was $0.0057 on December 27. The U.S. Securities and Exchange Commission temporarily suspended trading in the securities of Southridge because of questions regarding the accuracy of statements made by Southridge in press releases to investors concerning, among other things, the company's business operations and arrangements.
The Company deals in engaged in the acquisition and exploration of mineral properties.
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USA Graphite Inc (OTC: USGT) declined 2.56% to $0.76. In the last one year, the stock went up more than 27%.Recently, the Company plans to conduct both a bulk sampling program and detailed mapping study over the entire extent of the graphitic hornfels units at its flagship Blue Wing Mountains graphite project in the first quarter of 2013. The Company believes that metamorphism has not altered the geologic structure of the original sedimentary beds.
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Cellceutix Corp (OTC: CTIX) decreased 7.65% to $1.70. The CEO of Cellceutix Corp,Leo Ehrlich said that the biotech has been approached by a cancer center in the southwestern U.S. about testing its anti-cancer compound, Kevetrin, as a potential treatment for myeloma. He added that a commitment of $10 million over the next three yearswill help fund those trials as well as others.
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JBI Inc(PINKSHEETS: JBII) climbed up 2.41% to $0.85. The Company raised $4,012,554 in a private placement of 1,146,444 shares of the Company's Series B Convertible Preferred Stock. The Series B Shareswhich were sold at a price of $3.50 per share are each convertible into seven shares of the Company's common stock and have a mandatory conversion date of June 30, 2014. The terms of the Company's private placement allow the Company to hold additional closings for the sale of additional Series B Shares up to the maximum offering amount of two million shares and gross proceeds of up to $7 million prior to the January 31, 2013 offering termination.
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Peregrine Pharmaceuticals (NASDAQ: PPHM) escalated 4.47% to $1.38. Zacks increased the rating on the stock from a neutral to outperform in a research report. The firm currently has $1.50 price target on the stock.
Levi & Korsinsky LLP is investigating potential claims on behalf of purchasers of Peregrine Pharmaceuticals Inc securities concerning possible breaches of fiduciary duty in connection with the disclosure of the discovery of major discrepancies in the treatment group of its Bavituxmab Phase II Second-Line Non-Small Cell Lung Cancer Trial.
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