Boston, MA 03/13/2014 (wallstreetpr) – Marani Brands, Inc. (OTCMKTS:MRIB) management recently took to a video interview announcing to investors the company had received a verbal approval for a license for an alcohol distribution in California. Although the California department concerned with such approvals still lists the license approval of the business as pending, MRIB CEO Margrit Eyraud said what remains is the license documentation. That good news has been able to fuel the stock which has been posting solid double digit gains since Friday last week. On top of the licensing issue, the management expects the business to start contributing revenue to the company by end of first quarter. However, there was little to celebrate in the last session where the stock fell 5.56 percent to $0.0425. The last trading session was characterized with large share volume changing hands, almost double the normal daily average volume.
ProTek Capital Inc (OTCMKTS:PRPM) shares were up 13.33 percent to $0.0017 in the last trading session. The company this week issued an update of how the first two months of its new business plan have been. Generally things seem to be moving in the right direction and the management cannot hide its happiness over the achievement. The company has made acquisitions and entered financing deals with several strategic partners. And it still has its eyes set on singing many more growers and securing funding with hedge funds investors. The management believes that all these efforts will help the company to return maximum value to shareholder by meeting and exceeding its revenue projections.
Peregrine Pharmaceuticals (NASDAQ:PPHM) is emerging nicely from the troubles caused by its poor third quarter results. The stock has been on a downfall in the past days, but Wednesday was different. Shares of PPHM closed the day up 2.64 percent to $2.33. The shares changed hands in the heavy volume session between $2.16 and $2.35. For fiscal 2013 third quarter, the pharma reported loss of 6 cents, better than what Zacks analysts predicted at 7 cents loss. However, the loss was wider than the figure reported one year ago in the similar quarter. Revenue for the quarter was also down 44 percent.