NEW YORK, February 01, 2012 – Medical Marijuana Inc (OTCPINK: MJNA) shares jumped 20.40% to $0.270 in the morning hour. The company, on Jan. 22, pre-announce its fourth quarter earnings. The company earned net income of approximately $3.39 million on gross revenues of $5.10 million for the quarter ended December 31, 2012. This represents a gross revenue increase of over $2.0 million compared to the prior quarter ended Sept 30, 2012. When compared to the same quarter ended December 31, 2011 this represents revenue increase of $4.5 million and over 1,100 percent.
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AMARANTUS BIOSCI INC (OTCQB: AMBS) stock fell 1.16% to $0.0849 after the company yesterday announced it has secured an additional $1.4 million of financing commitments through an amendment of the initial Convertible Note with Dominion Capital. The original $600,000 note, dated November 14, 2012, was amended to a face value of $2,000,000 before deducting placement agent fees and other offering expenses. Proceeds will be used to provide funding for Amarantus’ lead asset Mesencephalic-Astrocyte-derived Neurotrophic Factor (“MANF”), the advancement of the Company’s diagnostic platforms, and for general working capital.
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NanoTech Entertainment, Inc. (OTCPINK: NTEK) stock gained 5.98% to $0.0195. The company, on Jan. 25, announced that it has completed the first phase of a plan to buy back shares of its common stock. The NanoTech Board of Directors had previously authorized a share repurchase program under which the Company plans to repurchase a total of roughly 25% of its outstanding common stock on the open market or in privately negotiated transactions. The program identified two stages, whereby a total 75 million shares would be acquired in phase one and 120 million shares would be acquired in phase two.
Additionally, the company, on Jan. 29, announced Alan D. Stone has joined the Board of Directors of NanoTech Entertainment and the advisory board of the NanoTech Gaming Labs division.
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Cereplast, Inc. (OTCQB: CERP) shares decreased 9.81% to $0.0195. The company recently provided a shareholder update and an outlook for 2013. Cereplast has created additional liquidity through the generation of approximately $500,000 in revenue over the last six weeks while continuing to focus on restructuring its operations to further position the Company for growth throughout 2013.
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SIPP INDUSTRIES NEW (OTCPINK: SIPC) shares climbed 31.03% to $0.0038 in the early hour. The company, on Jan. 29, announced that it is in the final stages of finalizing a merger with Spectre Worldwide Corp. (Spectre no relations to the movie or entertainment entity) Spectre, through its exclusive agreement with its authorized importer, licensor and marketer of liqueur brands including vodka, liqueurs, prosecco, tequilas, vodkas, cognac and wines sees its expansion into producing private label liquors for sales in North America and International distribution of its products with SIPC as the parent company.
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