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The Mission Report

The MissionIR Report - October 2013

In-depth analysis, timely updates, latest market news


Market News Economists See Softening Job Growth USPS Defaults on $5.6 Billion Prefund Payments Gas Prices Remain Low NY Attorney General Files Suit against Wells Fargo U.S. SEC Shells Out Huge Sum to Whisteblower U.S. as World's Biggest Oil Producer, Says IEA	Company Updates Advaxis Inc. (ADXS) CytRx Corp. (NASDAQ:CYTR) ForceField Energy, Inc. (FNRG) Galena Biopharma (NASDAQ:GALE) Jameson Stanford Resources Corp. (JMSN) PITOOEY! Inc. (PTOO)

Economists See Softening Job Growth Private-sector employment ticked higher for the month of September as employers added 166,000 jobs, Automatic Data Processing Inc. reported Wednesday. Despite a slight increase, the figure missed MarketWatch estimates of a September gain of 180,000, compared with an originally estimated increase of 176,000 in August. On Wednesday, ADP revised August’s gain to 159,000. U.S. stock futures added to losses after the data’s release. Even with September’s gain, Mark Zandi, chief economist of Moody’s Analytics, which prepares ADP’s report, told MarketWatch that job growth is softening. Over the three months through September, the economy added an average of 162,000 private jobs per month, down from 220,000 at the start of the year, according to ADP. “Fiscal austerity has begun to take a toll on job creation,” Zandi said. Neil Dutta, head of U.S. economics at Renaissance Macro Research, said the labor market has been impressively resilient, as evidenced by private employers adding about 1.47 million jobs, compared with 1.32 million during the first nine months of 2012. “Despite a dramatic fiscal squeeze, headline labor market progress has been steady. That means underlying employment growth is accelerating,” Dutta said. Typically, markets look to ADP’s report for guidance on the U.S. Department of Labor’s monthly report on nonfarm employment, which covers private and public jobs. However, if the U.S. government shutdown continues, the data won’t be released, and, as a result, markets may pay greater-than-usual attention to ADP’s data. Prior to the ADP report’s release, economists had forecast that nonfarm payrolls rose 185,000 in September, up from 169,000 in August. Although ADP’s report is an imperfect predictor of the nonfarm payrolls report, it sheds light on trends. Just looking at data on private employment for August, ADP’s revised estimate of a 159,000 increase in jobs was about 5% higher than the Labor Department’s estimate. In some months the gap was much wider, while in others the estimates just about match. Looking at the ADP report’s details on private employment, small businesses added 74,000 jobs in September, large businesses added 64,000 jobs and medium businesses added 28,000 jobs. Service providers added 147,000 jobs, and goods producers added 19,000 jobs. There are more than 100 million private jobs in the U.S., and monthly changes in employment are relatively small. Differences between ADP and Labor’s estimates for monthly changes are even smaller. However, gyrations in the data can move markets as investors look for clues about the economy’s health, and try to forecast actions that the Federal Reserve will take in coming months. Looking broadly at the labor market that includes private and government jobs, there have been employment gains for three years. Just focusing on manufacturing, an important source of good jobs, a recently released gauge of employment indicated that growth picked up in September. However, unemployment remains elevated and there are almost two million fewer jobs in the economy than when the recession began at the end of 2007. Economists say stronger job gains are needed for a healthy drop in the unemployment rate. And while the pace of layoffs is slow, the rate of hiring is relatively low as well. USPS Defaults on $5.6 Billion Prefund Payments - Again As forewarned by the Postmaster General, the U.S. Postal Service has defaulted on a $5.6 billion payment for retiree health benefits that was due on Monday. USPS spokeswomen Patricia Licata in an email to CNNMoney said the default has absolutely nothing to do with the federal government shutdown, issuing a reminder that the Postal Aervice had previously warned it would default on the payment, in its third time doing so. Postmaster General Patrick Donahue told the Senate Committee on Homeland Security and Government Affairs that the default was going to happen on September 19. At the time, he said the Postal Service was "in the midst of a financial disaster" and that it is "burdened by an outdated and inflexible business model" that prevents it from making payments. Postal officials have long complained about a Congressional mandate that requires them to set aside billions of dollars for a retiree health care fund each year. The Postal Service also defaulted on these prefund payments last year. In fiscal year 2012, the Postal Service lost a total of $15.9 billion, including $11.1 billion in defaulted payments that it owes to prefund health benefits for retirees. But Postal officials point out that other federal agencies aren't required to prefund for retirees this way. In addition, the Postal Service hit its debt limit last year, which means that it cannot borrow any more money from the U.S. Treasury. The Postal Service plans to cut 150,000 workers through 2015, and recently proposed a price hike for stamps. But officials have said that the crisis won't go away until Congress makes the prefund requirement disappear. "The Postal Service continues to be in a financial crisis," Licata told CNN. "Without passage of comprehensive legislation as outlined in our Five-Year Business Plan, current projections indicate that we will have a dangerously low level of liquidity in the foreseeable future." Unlike other federal agencies, the Postal Service isn't funded by taxpayers, and is intended to function like a private business. Gas Prices Remain Low, Bucking Last Year’s Labor Day Hike The national average for a gallon of regular at the end of September was measured at $3.42, which is around 40¢ less than a year ago, according to this week’s Energy Information Administration report. Last year’s post–Labor Day period saw rising gas prices in the wake of a hard-hitting hurricane season, among other factors. This year things are different, with prices remaining subdued even amid concerns about strife in the Middle East. The AAA Fuel Gauge Report indicates that gas prices dropped about 20¢ per gallon nationally in the past month. The gas experts at AAA indicate that the September dip was the largest seen since last October, and expect prices to keep inching lower in the weeks and months ahead. “Gas prices could drop another 25¢ to 30¢ per gallon to the cheapest averages of the year barring significant refinery problems or higher oil costs,” AAA spokesman Avery Ash said via press release. “Averages in as many as five to 10 states could drop below $3 per gallon, but there is a floor to how low the national average can go given the very high cost of crude oil.” The analysts at GasBuddy are basically on the same page, issuing a forecast in mid-September for prices to drop 20¢ to 25¢ by Halloween. As of Tuesday, the national average stood at $3.39, just 10¢ higher than the lowest price seen thus far in 2013: $3.29 per gallon, the average at the beginning of January. Last year, which was an anomaly because September prices were so high, October saw a 26¢-per-gallon dip in the national average; the decrease in October 2011 wasn’t quite as dramatic, with a 13¢ drop in the national average for gas prices. But a gas-price drop in October is fairly standard, and so long as nothing unusual causes current trends to change abruptly, drivers should be seeing new 2013 lows at the pump by the end of the month. In fact, something unusual is happening that could cause gas prices to drop at a faster pace than normal for October and beyond. Among the many expected effects of the federal-government shutdown that began on Tuesday are a general slowdown in the economy and diminished demand for oil and gas. The price of oil futures sank to the lowest level in three months on the eve of the shutdown, and the longer the shutdown, the longer it is likely that oil futures — and subsequently, prices posted at gas stations — will keep heading south. “The economy will slow down, confidence will slide, and demand for crude will be hurt,” Evan Lucas, an analyst with IG, told the Associated Press on Monday. “There will be a real snowball effect if the partial shutdown goes ahead.” As we now know, the shutdown is proceeding ahead. Lower gas demand and lower gas prices are likely to come as a result, but the shutdown is also expected to hammer the economy in general, to the tune of $1 billion per week, by some estimates. NY Attorney General Files Suit against Wells Fargo New York State Attorney General Eric Schneiderman is suing Wells Fargo, the nation's largest home lender, alleging that it's violating last year's National Mortgage Settlement, which was reached to deal with a flood of illegal foreclosures, reports CNNMoney. Schneiderman signaled last May that the suit, which will be filed Wednesday, was coming by saying he'd found continued abuses by Wells Fargo and Bank of America. He announced Wednesday he had reached a new agreement with Bank of America to correct problems being reported by homeowners. But he said that Wells Fargo has not corrected the problems brought to his office's attention. Under the February 2012 settlement between the Justice Department, 49 state attorneys general and five of the nation's largest banks, the lenders committed to spend $25 billion to help homeowners stay in their homes. The other banks involved in the original deal were JPMorgan Chase, Citigroup and Ally Financial. The settlement came in the wake of widespread problems including "robo-signings," in which banks improperly foreclosed on homes. But Schneiderman said that Wells Fargo has not taken the steps necessary to help troubled homeowners apply for modifications to their existing mortgages. There are 210 separate violations alleged by his office, involving the 96 different New York borrowers. He said that both the suit against Wells Fargo and the settlement with Bank of America "should send a strong message that the big banks must comply with the legally binding servicing standards negotiated in the national mortgage settlement, or face the consequences." Wells Fargo made 22% of all U.S. home loans in the first quarter of this year, according Mortgage News Daily, an industry trade publication. That's more than twice the home loan volume of the number two lender, JPMorgan Chase. Wells Fargo said it is disappointed in Schneiderman's action and that it is working with the states and customers to improve the loan modification process. It said it's proud of its track record of "helping families maintain home ownership with more than 880,000 modifications nationwide and 26,000 in New York over the last four years." Bank of America said it was pleased to have reached an agreement with New York without the need of further litigation. U.S. SEC Shells Out Unprecedented, Huge Sum to Whisteblower An unidentified whistleblower will receive more than $14 million for aiding the agency, reports CNNMoney, marking a huge step for the agency, which historically hasn’t paid out more than $125,000 in an individual case. While the SEC stopped short of identifying the whistleblower and provided no information about the investigation, it did say that "awards can range from 10 percent to 30 percent of the money collected in a case" - suggesting the case could have involved up to $140 million. The SEC began paying out awards under the 2010 Dodd Frank banking law, which overhauled financial regulations and introduced additional consumer protections in the wake of the financial crisis. The agency says awards are available to whistleblowers who provide "high-quality original information" in an investigation involving over $1 million. United States on Track to Overtake Saudi Arabia as World's Biggest Oil Producer, Says IEA The recent resurgence in oil and gas production, and efforts to make the transport sector more efficient, are radically reshaping the nation's energy market, reported the International Energy Agency. The Paris-based IEA in its World Energy Outlook forecasts that the United States will take the lead over Saudia Arabia as the net exporter and top producer of oil before 2020. Further, the IEA expects that the U.S. will be energy independent by 2030. "The United States, which currently imports around 20% of its total energy needs, becomes all but self-sufficient in net terms -- a dramatic reversal of the trend seen in most other energy importing countries," the IEA stated. The U.S. is experiencing an oil boom, in large part thanks to high world prices and new technologies, including hydraulic fracking, that have made the extraction of oil and gas from shale rock commercially viable. From 2008 to 2011, U.S. crude oil production jumped 14%, according to the U.S. Energy Information Administration. Natural gas production is up by about 10% over the same period. According to the IEA, U.S. natural gas prices will rise to $5.5 per million British thermal units (MBtu) in 2020, from around $3.5 per MBtu this year, driven by rising domestic demand rather than a forecast increase in exports to Asia and other markets. "In our projections, 93% of the natural gas produced in the United States remains available to meet domestic demand," it said. "Exports on the scale that we project would not play a large role in domestic price setting." North America's new role in the world energy markets will accelerate a change in the direction of international oil trade toward Asia, and underscore the importance of securing supply routes from the Middle East to China and India. The IEA said it expects global energy demand to increase by more than a third by 2035, with China, India and the Middle East accounting for 60% of the growth, and more than outweighing reduced demand in developed economies. That will push world average oil import prices up to $125 per barrel (in 2011 dollars) by 2035, from around $100 per barrel at present, but they could be much higher if Iraq fails to deliver on its production potential. Iraq is set to become the second largest oil exporter by the 2030s, as it expands output to take advantage of demand from fast growing Asian economies. New fuel economy standards in the U.S. and efforts by China, Japan and the European Union to reduce demand would help to make up for a disappointing decade for global energy efficiency. "But even with these and other new policies in place, a significant share of the potential to improve energy efficiency -- four-fifths of the potential in the buildings sector and more than half in industry -- still remains untapped," the IEA stated. Policymakers are still missing out on potential benefits for energy security, economic growth and the environment. Growth in demand over the years to 2035 would be halved and oil demand would peak just before 2020, if governments took action to remove barriers preventing the implementation of energy efficiency measures that are already economically viable, the global organization said. Car Sales Reverse in September but Demand Remains Firm The Labor Day weekend sales were booked by the major U.S. automakers in their August sales period, rather than September, straying from the norm. Early sales results point to industry-wide U.S. sales falling compared to a year ago for the first time this year. The two largest automakers in terms of U.S. sales -- General Motors and Toyota Motor -- both reported a drop in sales compared to a year earlier. Both had weaker months than analysts had forecast, although that was partly balanced by an unexpected sales gain at Ford Motor. Sales at Chrysler Group were little changed from a year earlier. "A lot of consumers pulled ahead their sales into August to take advantage of Labor Day sales offers," Alex Gutierrez, senior analyst with Kelley Blue Book, told CNNMoney. "There's still plenty of demand out there, and no concerns or red flags from our perspective." The annual sales pace is forecast to come in around 15.4 million vehicles, which would be the lowest reading since April. Early results from the largest automakers suggest those estimates were on the mark. Jessica Caldwell, a senior analyst with Edmunds.com, said a more useful way to look at results is to combine August and September to eliminate the impact of the timing of Labor Day. Those two months together are likely to have been up about 7%. "I don't feel like any of the fundamentals that were in place have changed," she said. She said years of weak car sales during and following the recession have led to a record average age for cars on the road and pent-up demand from buyers who delayed car purchases longer than normal. "When you have pent-up demand that needs to be released, it's going to look better some months than others," she said. Other factors driving the rebound in new car sales include better access to car loans, slow but steady improvement in the jobs market, and gains in the housing and stock markets that have increased household wealth.	Advaxis Inc. (ADXS) In its most recent news, Advaxis published the preclinical research for ADXS-HPV, the company’s Lm-LLO lead drug candidate. The product is designed for use in the treatment of HPV-associated cancers in combination with the PD-1 antibody. Among the studies’ various findings, it was demonstrated that treatment with an Lm-LLO immunotherapy, in combination with an anti-PD-1 antibody, significantly improved immune and therapeutic efficacy in preclinical mouse models. The study also showed that a significant reduction of regulatory T cells and myeloid-derived suppressor cells in spleen and tumor microenvironments were mediated solely by the Lm-LLO immunotherapy. About Advaxis Inc. Advaxis, Inc. is a clinical-stage biotechnology company developing the next-generation of immunotherapies for cancer and infectious diseases. The company’s immunotherapies are based on a novel platform technology that uses live, bio-engineered bacteria to secrete antigen/adjuvant fusion protein(s) that redirects the powerful immune response all human beings have to the bacteria to fight off cancer and disease. A second effect is to reduce the immune suppressive cells cancer tumors recruit to protect themselves from immune attack by over 80%. It is this combination that makes Advaxis special. The company has more than fifteen distinct constructs in various stages of development, many in strategic collaborations with recognized centers of excellence such as the National Cancer Institute, Cancer Research – UK, the Wistar Institute, the University of Pennsylvania, the University of British Columbia, the Karolinska Institutet, and others. Advaxis’ lead construct, ADXS-HPV, is currently in Phase 2 clinical development for recurrent/refractory and advanced cervical cancer, anal cancer, and HPV caused head and neck cancers. This important construct was recognized as the Best Therapeutic Vaccine (approved or in development) at the 5th Annual Vaccine Industry Excellence (ViE) Awards by the vaccine industry and the journal Expert Reviews of Vaccines. The estimated global market for immunotherapies is projected to exceed $37.2B by 2012, with cancer vaccines forecast to grow into an $8B market. Protected by 75 issued and pending patents, Advaxis is extremely well positioned to capitalize on the burgeoning opportunities in the healthcare sector as it advances the development of next-generation treatments for today’s most challenging diseases. CytRx Corp. (CYTR) CytRx recently reported data from its global phase 2b soft tissue sarcoma trial indicating that patients treated with aldoxorubicin had a significantly higher OVERALL RESPONSE RATE (ORR) of 22% as compared to those administered the widely used chemotherapeutic agent doxorubicin with an ORR of 0%. Aldoxorubicin compared with doxorubicin produced statistically significant improvement in survival rates in animals with a human model of glioblastoma (brain tumor), and showed an improved and narrow distribution of aldoxorubicin within the human body in a pharmacokinetics trial. Results from the glioblastoma trial and pharmacokinetics trial were discussed in poster presentations at the 2013 European Cancer Congress (ECCO/ESMO/ESTRO) in Amsterdam, Netherlands. CytRx also announced that additional data from a trial in immunodeficient mice transplanted with human glioblastoma cells in their brain that showed those animals treated with aldoxorubicin had a median survival rate of more than 63 days, compared with approximately 25 days for animals treated with doxorubicin or saline. The company plans to initiate a Phase 2 clinical trial in 2013 evaluating the preliminary efficacy of aldoxorubicin in patients with AIDS-related Kaposi’s sarcoma, a common HIV-associated tumor. The Phase 2 trial will enroll up to 30 patients and will be conducted at the LSU Health Science Center in New Orleans. CytRx also reported additional data from a phase 1b clinical trial evaluating the pharmacokinetics and safety of aldoxorubicin in patients with metastatic solid tumors who have either relapsed or not responded to treatment with standard therapies clearly demonstrate that aldoxorubicin has circulating half-life of approximately 20-24 hours with narrow volume of distribution to healthy tissue and slow clearance from the circulation. In this study, treatment with aldoxorubicin has extended past 13 cycles (a cycle is 21 days). About CytRx Corp. CytRx Corp., a biopharmaceutical research and development company, specializes in the enhanced delivery of proven oncology therapies to treat cancer. The company’s novel linker platform technology can be utilized with multiple chemotherapeutic agents and could allow for greater concentration of drug at tumor sites while minimizing side effects. Aldoxorubicin, the company’s flagship compound, is an improved version of the widely used chemotherapeutic agent doxorubicin. CytRx is conducting a global Phase 2b clinical trial comparing aldoxorubicin to doxorubicin as a treatment for 1st-line soft tissue sarcomas. Top-line results are expected in Q4 2013. Preparations are underway for a Phase 3 trial in 2nd-line soft tissues sarcoma to begin in Q1 2014 based on results from a completed Phase 1b/2 clinical trial. The FDA granted CytRx a Special Protocol Assessment (SPA) for the Phase 3 clinical trial. The company is conducting a Phase 1b pharmacokinetics clinical trial and in Q4 2013 plans to start a Phase 2b trial in glioblastoma multiforme (stage IV brain cancer) and a Phase 2 trial in Kaposi’s sarcoma. With no debt and significant cash resources, CytRx has the capital position necessary to support near and mid-term milestones across its entire oncology pipeline. CytRx also has rights to two additional drug candidates, tamibarotene and bafetinib, for which it plans to seek a partner for further development. Collectively, CytRx's management and Board of Directors have significant oncology experience and have brought numerous oncology drugs to market. Daniel Levitt, M.D., Ph.D., EVP and Chief Medical Officer, served as President of R&D at Protein Design Labs, as head of oncology drug development at Sandoz Pharmaceuticals, as director of clinical oncology at Hoffmann-LaRoche, and was instrumental in the development of five approved cancer drugs. Joseph Rubinfeld, Ph.D., a director since July 2002 is a renowned expert in the field of oncology, was one of the four initial founders of Amgen, Inc. and was a founder of SuperGen, Inc. Max Link, Ph.D., Chairman of the Company's Board of Directors since 1996, was a former Chairman and CEO of Sandoz Pharma (now Novartis) and is currently the Chairman of the Board of Alexion Pharmaceuticals. ForceField Energy, Inc. (FNRG) ForceField Energy recently signed a consulting and sales agreement for LED lighting products with LNHA Service Corporation servicing the Louisiana Nursing Home Association’s Member ("LNHA"), a non-profit representing more than 250 nursing facilities and assisted living communities that care for approximately 30,000 elderly and disabled individuals. LNHA will provide support for the marketing and sales efforts with its existing members, and will leverage its long-standing experience to penetrate the approximate 80,000 U.S.-based nursing homes and long-term care establishments. In other news, ForceField Energy CEO David Natan was recently interviewed by MissionIR. The audio interview is now available and can be heard at http://fnrg.missionir.com/interview.html. About ForceField Energy, Inc. ForceField Energy, Inc. is an international manufacturer, distributor, and licensee of alternative energy products and solutions. The company operates in three of the largest and fastest-growing areas of the global renewable energy space: industrial waste heat recovery and conversion, commercial LED lighting products, and solar cell feedstock production. TransPacific Energy, a subsidiary of ForceField Energy, has patented a technology that uses “waste heat” from various industry processes and other sources to provide clean electricity. The subsidiary’s process directly captures and converts heat from the heat source, without any heat transfer fluids, at temperatures from 80ºF up to 900ºF. This is a far broader range than any other competing systems on the market, unlocking a countless number of new applications. Through its exclusive multinational distribution agreement with Lightsky, ForceField has a firm foothold in the commercial lighting products industry as well. The LED lighting market is growing at a 32% compound growth rate because of the absence of dangerous chemicals, government regulation phasing out old lighting technology, 50-70% lower energy costs, exceptionally long life, and beautiful illumination. ForceField is also a significant manufacturer and distributor of trichlorosilane ("TCS") in China. TCS is a specialty chemical primarily used in the production of polysilicon, which is an essential raw material in the production of solar cells for PV panels that convert sunlight to electricity. TCS is considered to be the first product in the solar PV value chain before polysilicon, and is also the principal source of ultrapure silicon in the semiconductor industry. Galena Biopharma (NASDAQ:GALE) Galena closed its previously announced underwritten public offering of 17.5 million shares of common stock, and warrants to purchase an aggregate of 6,125,000 shares of common stock at an exercise price of $2.50 per share for proceeds of approximately $32.6 million. The underwriters also exercised their over-allotment option to purchase warrants to purchase an aggregate of 918,750 shares of common stock, generating additional gross proceeds to Galena as a result of the exercise of the option of approximately $5.2 million. Separately, Galena said it has initiated its Institutional Review Board (IRB)-approved cancer patient registry study entitled RELIEF: Rapid Evaluation of Lifestyle, Independence, and Elimination of breakthrough cancer pain with Freedom from oral discomfort through the use of Abstral® (fentanyl) Sublingual Tablets. The company also announced the debut of Abstral's sales and marketing campaign at the PAINWeek conference September 4-7, 2013, in Las Vegas, NV. About Galena Biopharma, Inc. Galena Biopharma is focused on developing and commercializing targeted oncology treatments to address major unmet medical needs and advance cancer care. The company’s peptide vaccine immunotherapies harness the patient’s own immune system to identify and destroy cancer cells. Utilizing peptide immunogens has many clinical advantages, including an excellent safety profile and long-lasting protection through immune system activation and convenient delivery. Abstral® is Galena’s FDA-approved therapy for breakthrough cancer pain in opioid-tolerant cancer patients. It is estimated that at least 40% of cancer patients experience breakthrough pain episodes multiple times per day, each with a median duration of 30 minutes. The innovative Abstral formulation rapidly dissolves under the tongue in seconds, provides rapid relief of breakthrough pain in minutes, and matches the duration of the entire pain episode. NeuVax™, currently in a Phase III trial, has been developed to bolster the immune response in breast cancer patients. The trial, entitled PRESENT (Prevention of Recurrence in Early-Stage, Node-Positive Breast Cancer with Low to Intermediate HER2 Expression with NeuVax Treatment), is being conducted under an FDA-approved Special Protocol Assessment (SPA). The therapy targets the 50% to 60% of patients with tumors that express HER2 in low-to-intermediate amounts and achieve remission with current standard of care, but who have no available HER2 targeted adjuvant treatment options to maintain their disease-free status. NeuVax can be used to help the body target and kill undetected cancer cells before they grow into metastatic tumors. The company’s second product candidate, Folate Binding Protein (FBP), is a highly immunogenic peptide that can stimulate the immune system to recognize and destroy preclinical FBP-expressing cancer cells. FBP is over-expressed in more than 90% of ovarian and endometrial cancers, as well as 20%-50% of breast, lung, colorectal, and renal cell carcinomas. This vaccine is currently in a Phase 1/2 trial in two gynecological cancers: ovarian and endometrial adenocarcinomas. Galena’s experienced management team has an excellent track record in clinical development, commercial operations, and successful partnership execution. Enhanced by multiple development and commercial collaborations, the company’s suite of immunotherapeutic solutions is poised to capitalize on the vast opportunities in today’s healthcare industry. Jameson Stanford Resources Corp. (JMSN) Jameson has named Michael Christiansen as executive vice president of Corporate Development, where he will be responsible for capital markets, investor relations and corporate administration. Christiansen previously served as EVP and chief financial officer with the Jameson and Bolcàn Mining Corporation prior to the October 2012 merger. Christiansen previously worked as managing director at WestPark Capital where he served in the corporate finance group from 2007 to 2012. In other news, Jameson has been managing an extensive third-party engineering Diamond Core Drilling Program within the Wild Bill area at the northern end of its Star Mountain Mining District, Chopar Mine located in Beaver County, Utah. The company said that exploration program and technical reports associated with aerial and ground magnetometer surveys, modeling, geologic ground reconnaissance, geo mapping, surface sampling, and extensive reverse circulation drilling, warranted graduation to diamond core drilling to further delineate the sizable mineralized porphyry discovered at the Wild Bill area of the property. About Jameson Stanford Resources Corp. Jameson Stanford Resources Corp. (JMSN) is a metals and minerals exploration, development, and production company focused on the acquisition and consolidation of mining claims and mineral leases. Targeting projects located in historic mining districts, the company is currently engaged in exploration and development activities in connection with two high-grade copper, gold, silver, and base metals properties located in historic mining districts in Beaver County and Juab County, Utah. The company’s Star Mountain project consists of 117 lode mining claims and four metalliferous mineral lease sections located in the Star Mountain range, Star Mining District. The project covers a total area of 4,998 acres with borders expanding as exploration warrants. Based on geological analysis, magnetometry studies, and reverse circulation drilling samples, the total inferred reserves at this site may ultimately involve more than 100 million metric tons of copper ore, plus precious and PGM base metals. Jameson Stanford’s Spor Mountain project encompasses nine lode mining claims and three metalliferous mineral lease sections located in Juab County, Utah. The project covers a total area of 2,098 acres. Based on preliminary geological analysis and two prospect pit excavations, this site has been estimated to possibly involve more than 4 million ounces of silver, significant concentrations of beryllium, and other precious and base metals. The company’s Ogden Bay Minerals project nearby is another promising prospect with the potential to produce an estimated 100,000 metric tons of silica product per year, as well as other valuable minerals and metals. Based on engineering and geophysical studies conducted by the company since inception in 2010, current mining claims and mineral properties have aggregate inferred reserves exceeding $10 billion of gross value at current market prices. In addition to initiating and expanding production operations through exploration discoveries and the development of existing mining claims and mineral properties, management’s growth strategy includes the identification and acquisition of additional under-developed mining claims and mineral leases in established mining districts. PITOOEY! Inc. (PTOO) PITOOEY! most recently announced the ongoing, substantial expansion of its customer base. Choice One Mobile, Inc., a wholly owned subsidiary of the company, has added more than 350 unique customers for the quarter ending June 30, 2013. Most of these customers are enrolled in either a monthly recurring payment plan or a prepaid plan for service over a specific number of months. As indicated by the significant increase in revenue and gross profit reported earlier this month, Choice One Mobile is now one of the key growth drivers of PITOOEY!. The company also recently highlighted its social media advertising capabilities through services like Facebook, Twitter, YouTube and Instagram. PITOOEY! reported Q2 revenues of $108,788, an increase of 60 percent compared to revenues of $67,935 reported in the comparable quarter of 2012. Choice One Mobile, Inc., was the primary contributor to rapid sales growth, resulting in a sequential increase in gross profit of approximately 42 percent, or $26,092, compared to the previous quarter of 2013. To read the full release, visit: PITOOEY!, Inc. (PTOO) Grows Fiscal 2013 Q2 Revenue 60% About PITOOEY! Inc. PITOOEY! Inc. is a digital marketing agency with proprietary technology designed to assist companies in establishing and developing a presence on the Internet. The company's offerings come from two distinct, yet synergistic, business groups, Choice One Mobile and PITOOEY!™ Mobile, with the company's flagship product, the PITOOEY!™ app. The PITOOEY! app is a preference based, searchable ad network. Using the PITOOEY!™ platform, a partner business is able to upload broadcasts into a database, which consumers "pull" according to a profile based on their interests, previous purchases, current location, or other data. The PITOOEY! app provides businesses with a unique engagement tool while serving consumers deals, valuable content, and location-based information. Choice One Mobile is PITOOEY!’s digital social media and marketing subsidiary, focused on developing customizable strategies that encompass each client’s unique digital marketing needs. Choice One Mobile’s vast offerings include creating and establishing a credible social media and/or Web-presence, content creation, search engine optimization, social media management, and mobile platform optimization using "Mobile Caviar" - an array of unique processes for the distribution of mobile marketing content. PITOOEY! is putting the power to fundamentally change the nature of interaction between a business and their customers directly into the consumer’s hands via its powerful mobile and digital marketing capabilities. Leveraging its own marketing expertise to attract a crowd of businesses and consumers, the company is quickly capitalizing on a new era in communication that enables an unparalleled level of engagement between customer and merchant.

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