A Special Christmas Gift From Carfinco?

Carfinco Income Fund (TSX:CFN.UN)
Units issued: 23.9 million
Units fully diluted: 24 million
Current monthly distribution: $0.02
Q1/2010 special distribution: $0.04
Q2/2010 special distribution: $0.10
Q3/2010 special distribution: $0.10
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Analyst Fred Westra has been bullish on Carfinco since he and Industrial Alliance (IA) started coverage back in February of 2010. At that time IA believed that Carfino was a strong buy and that it was worth $3.50 per unit within 12 months.

Fast forward to Fred's latest report published November 25th on his 11th update, the strong buy remains intact but the target is now $7.75.

The reasoning behind the elevated evaluation is that Carfinco has set six consecutive record quarters of earnings in a row and he expects that it will issue a special distribution in December that he estimates at $0.19 per unit.

Being an Income Fund, Carfinco must distribute all of its taxable earnings for 2010 and if the fourth quarter is anything like the last six, Christmas will come early for unitholders.

See the IA report by clicking here.....

Neptune Attracts Dundee Analyst Coverage

Neptune Technologies & Bioresources
NTB - TSX V) (NEPT - NASDAQ)
Basic Shares: 40.2 million
Fully diluted: 43.1 million

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Dundee Securities Corp. very recently released its first research report on Neptune Technologies labelling Neptune stock as a "Buy" (Speculative Risk - no price target) and calling for major milestones from all of its big brother partners.

We can't post the report but we will provide insight into the document.

The report by analysts David Martin and James Kuo had the tongue-in-cheek title of, "Hey - What' You Lookin' at Shrimp," a play on the fact that Neptune products are all formulated from omega 3 oils extracted from Antarctic krill - a tiny member of the shrimp family.

That minimalist humour aside, the report detailed upcoming milestones such as the estimated $3-$4 million, 508-patient, phase two clinical trials Neptune subsidiary, Acasti Pharma, is hoping to begin early in 2011.

That will hopefully coincide with clinical results from commercial partners Nestle and Yoplait in early 2011 and the full launch of Bayer's Arctic Wonder krill oil capsules that is expected in February 2011.

While on Acasti, the Dundee analysts labelled the planned spin off of Acasti as a public company on the Toronto Stock Exchange Venture as another near-term milestone that would enhance Neptune's value.

And looking in the rear-view mirror, the Dundee report, noted Neptune built a solid, profitable business model which stands it in good stead to catch the wave of baby boomers who are increasingly looking to natural products like krill oil to reduce their bad cholesterol and triglycerides while increasing good cholesterol ratings.

The report also discusses the growing revenues from the dietary supplement core business. As yet another plant expansion has been completed, Dundee is looking for revenues to rise to $29 million with $8 million in EBITDA.

The report also highlighted how Neptune's strong commercial partners plus its advisers and consultants such as cardiologists, Dr. Steven Nissen and Daniel Rader, were major pluses in the company's evaluation.

The report comments that "While still early in the Rx game, Neptune continues to build validation supporting that krill sourced omega-3 fatty acids may have superior benefits compared to the currently marketed leader in the field (Lovaza) and a late stage competitor (AMR101)." That exact subject has been the foux of several releases as of late with Acasti signalling its positive animal study results versus Lovaza. To read today's (Nov. 29th) news release, click here.

On the subject of valuation, the report notes a $4.15 / share value if CaPre's Phase 2 results are positive and that would drive Acasti's value to $200 million to add to NTB's inherent value based on its core business.

The Howard Group Introduces VentriPoint Diagnostics

VentriPoint Diagnostics Ltd.
VPT - TSX Venture
Shares issued: 68.8 million
Fully diluted: 83.7 million
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A detailed introduction commentary to VentriPoint Diagnostics, a unique medical imaging technology company can be accessed by clicking here.

Along with our detailed commentary, please note that VentriPoint made an important announcement today (Nov. 29) regarding a strategic placement of its technology in a prestigious research Hospital in Oslo, Norway.

The news announcement about installing a VMS system in the ‘Riks’ hospital in Oslo is quite extraordinary for VentriPoint on several levels. Firstly, according to VentriPoint management, this is one of the world’s pre-eminent research hospitals.

Obviously the VMS system appears to answer a need they are researching and it must have passed a fairly high standard of rigor to be accepted in this prestigious institution. Secondly, the VMS tool must offer something unique as this hospital has every modern diagnostic tool that the major HealthCare providers have developed in the western world.

Note: “The ease of use of the system and its potential to replace MRI studies will hopefully make a difference in the care of children with congenital heart disease," said Dr. Henrik Brun, cardiologist at Rikshospitalet. This is encouraging at this stage in the company’s commercialization as it needs endorsement from leading medical facilities.

On another level, the peer review of the VMS system will be heightened by the fact that the GE HealthCare houses all their leading technology at ‘Riks’ and will probably be watching how the system performs; not a bad thing for future potential relationship development.

VentriPoint’s plan is to strategically place its product in institutions, which will increase the company’s profile, and expand its product offering. Each institution chosen will be running a research trial on a specific congenital heart disease. This will produce a study from a leading cardiologist and information that will be used by the company to create a database for product development. We expect this to enhance the company’s position and move the commercialization process along as quickly as possible.

Click here for information on 'Riks'

To view today's news release, please click here

Pure Nickel's Tower Property Continues To Hit High Grade Copper-Gold With Partner Rockcliff

Pure Nickel
(TSX: NIC)(OTCBB: PNCKF)
Basic Shares: 67.8 million
Fully Diluted: 75.5
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Pure Nickel and its option partner, Rockcliff Resources (TSX-V:RCR) have announced that its drilling at Pure Nickel's Tower Property in central Manitoba has continued to hit high grade copper-gold mineralization. Rockcliff can earn up to a 70% interest in this property.

Holes 1 and 2 had strong results that were released on November 10th this year and assay highlights include 10.5% copper, 3.6 grams per tonne gold (g/t), 2% zinc and 33 g/t of silver.

Holes 3-5 were in today's news and although each hit high grade mineralization, hole 4 intersected 11.5% copper, 2.7 g/t of gold, 2% zinc and 49.7 g/t of silver.

The Tower Zone remains open in all directions and bore hole surveys have clearly identified a significant untested area of conductance representing massive sulphides along strike and at depth to the existing high grade copper-gold drill intercepts.

See full news release here.......

Smartcool Revenues Up 61% Over Q3 2009

Smartcool Systems Inc.
(SSC: TSX-V)
Basic Shares 46.8 million
Fully Diluted 54.7 million
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Please click on the image to expand.

Smartcool announced its third quarter revenues today and sales were up substantially over 2009's third quarter.

Highlights include:

- Gross profit for the quarter increased by $334,848 to $794,184 (72% of revenue) from $459,336 (67% of revenue) for the third quarter of 2009.

- General and administrative expenses for the quarter decreased to $751,037 from $809,018 for the same quarter of 2009

- Net loss for the quarter was $259,725 ($0.01 per share), a decrease of $248,284 or 53% from $471,100 ($0.01 per share), for the third quarter of 2009

- The company had $622,422 in cash and cash equivalents at the end of the quarter, compared to $164,434 in cash and cash equivalents, and short-term investments of $252,822 at the end of the third quarter of 2009.

This continued growth can be attributed to advances in both direct sales to end users which contributed 53% ($584,875) and distribution sales of 47% ($514,074) to the company’s total revenue ($1,098,949).

With its distribution channels steadily expanding and positive cash flow being generated from operations this quarter ($142,742), management is confident that the company will continue executing on its strategic business plan in the next twelve months.

For the full news release, please click here..........

Silvore Fox Agreement Attracts Media Coverage - Northern Miner & Halifax’s The Chronicle Herald

From Silvore Fox Signs Strategic Agreement with Beijing Donia Resources

Silvore Fox Minerals
SFX - TSXV
Shares Outstanding – 128.42 Million
Fully Diluted – 154.05 Million

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On November 17, 2010 The Northern Miner published an article on SFX called “Silvore Fox Minerals Inks Strategic Agreement With Chinese”. The article covers Silvore Fox’s announcement from the same day, which gave the details of the agreement. Click here for the November 17th news release.

The writer of the article interviewed Harry Cabrita, President and CEO of Silvore Fox and quoted him as saying:

"Together we have a vision of taking Silvore Fox forward internationally into potentially a very large mineral exploration company," Harry Cabrita, the company's president and chief executive, said in a telephone interview. "Right now we're pretty focused on Ontario, Mexico and South America."

To view the full article in the Northern Miner, please click here

On Saturday, November 27, 2010 Bill Power, Business Writer for The Chronicle Herald published an article about Silvore Fox called “Coxheath plans exploration boost.”

To view the full article in The Chronicle Herald, please click here

Silvore Fox has also provided the following photos from the November 17th signing of the strategic agreement between Harry Cabrita, President and CEO of Silvore Fox Minerals and Wen Shan Zhang, President of Beijing Donia Resources, which occurred in Tianjin, China.

Click here to view photos.

AeroMechanical Helps Small Go Big

AeroMechanical Services Ltd. (TSX:V-AMA)
Basic Shares: 103.6 million
Fully Diluted: 115.4 million

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It's ironic that on the day that France announced it is launching a fourth search for the black boxes on board the ill-fated AF447 flight, AeroMechanical Services was taking a huge step forward that could forever end those kinds of searches.

The advances AeroMechanical is taking part in all revolve around a technology called OpenPort, which will increase the data being transmitted off an aircraft by a staggering amount.

The current aircraft transmission technology AeroMechanical is forced to use limits the data transfer to 2,400 baud, a measure of symbols and pulses that can be transmitted in one second.

AeroMechanical has a blue box technology that takes the critical operational data flowing into an aircraft's black box and transmits that back to earth when an aircraft is in an emergency situation.

In most cases, that amount of data is sufficient to allow aircraft accident investigators to understand why an aircraft failed.

But OpenPort takes data transmission up to 128 thousand baud.

That means AeroMechanical can now transmit a fuller suite of operational data, plus voice recordings and cockpit video recordings, if the latter is ever mandated.

Had AF447 been equipped with AeroMechanical’s technology, the first three searches for the aircraft and its black boxes may not have been necessary.

With the ability to transmit data, plus voice, plus video through the OpenPort technology, accident investigators will then have a rich store of evidence to pinpoint the exact cause of the tragedy, without having to retrieve the aircraft's black boxes.

OpenPort isn't on the market yet for aircraft. However, it has been in extensive use in the marine industry.

One of the critical problems for aircraft installation has been the massive size of the antenna used on the marine version.

The owners of the Iridium satellite system invented the technology and Live TV, a provider of aircraft in flight entertainment, teamed up with Iridium to create a miniaturized, lightweight antenna.

LiveTV executives said they hope to have regulatory approval for OpenPort installations on aircraft by the first quarter of 2011 and available to the airline industry shortly thereafter.

AeroMechanical Chairman and CEO, Bill Tempany, said his company is working with LiveTV in the development of the technology for use on aircraft.

And an OpenPort unit arrived on Mr. Tempany's desk for further testing, the very day of the announcement about this fourth search for AF447 (Nov. 25).

"We are pleased to be involved in testing this technology along with our partner who manufacture the black boxes that record data, voice and potentially video in 78% of the worlds commercial aircraft,” Mr. Tempany said.

“We are confident this technology will allow us to create a course for the entire airline industry to retrieve all the vital data from aircraft in distress."

To read more about the the new technology in a magazine produced by Iridium, please click here.

Neptune Subsidiary Reports Dramatic Results

Neptune Technologies & Bioresources
NTB - TSX V) (NEPT - NASDAQ)
Basic Shares: 40.2 million
Fully diluted: 43.1 million

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Neptune's 60% owned subsidiary, Acasti Pharma, reported Nov. 25th that its drug candidate, CaPre, outperformed the well-established fish oil based prescription drug, Lovaza, in a number of critical animal lab tests.

First, a low daily human equivalent dose of 1 gram of CaPre (krill-oil based) was given to laboratory rats and that resulted in a reduction of bad cholesterol by 40% and an increase in good cholesterol levels of 180%.

Comparatively, 4 grams of Lovaza showed no significant effect, Acasti reported.

Second, a lower daily human equivalent of 0.5 grams of CaPre proved to be as efficient as 4 grams of Lovaza in reducing triglyceride levels by 40-50% in obese rats with severe diabetes and high triglycerides, Acasti reported.

Cholesterol and triglycerides are a type of blood fat that can cause crippling diseases when they are in very high amounts.

"We believe that CaPre(TM) is in a much better position to improve the compliance of patients and help the treating physician," said Acasti President Dr. Tina Sampalis. "This latest benchmarking program gives us a a great deal of confidence regarding the upcoming phase 11 clinical trial for which we recently submitted a clinical trial application in Canada," she added.

Lovaza(R) is the only FDA approved prescription omega-3 fish oil solely indicated for the treatment of sever hypertriglyceridemia (very high triglycerides.)

According to market research firm IMS Health, global sales of Lovaza(R) hit $1 billion in 2009, with nearly $800 million of those sales taking place in the United States.

In 2007, GlaxoSmithKline bought the USA rights to Lovaza(R) through the purchase of Reliant Pharmaceuticals Inc. for $1.65 billion.

To view the entire news release, please click here.

An online investors site called Proactive Investors picked up on the news and noted at the time of its story that Neptune shares had climbed 22% on the news.
To see its report please click here.

Carfinco - From Sea to Shining Sea

Carfinco Income Fund (TSX:CFN.UN)
Units issued: 23.9 million
Units fully diluted: 24 million
Current monthly distribution: $0.02
Q1/2010 special distribution: $0.04
Q2/2010 special distribution: $0.10
Q3/2010 special distribution: $0.10
-----------------------------------------------------

Carfinco announced today that it is now truly a national fund as it will be offering the province of Quebec its unique lending niche.

The fund has been growing at a record rate and will now be implementing its financing programs to automotive dealerships in Quebec allowing for the growth to continue.

Quebec is the second most populated province in Canada, second only to Ontario and has 7.9 million people or 23% of Canada's overall population.

See full news release here.......

FUNDAMENTAL ANALYSIS, HOW IWG FARES

International Water-Guard (TSX-V: IWG)
Basic Shares: 39.3 million
Fully Diluted: 46.5 million

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Brian Tang, President of Vancouver-based Fundamental Research Corp., used International Water Guard (IWG) as a poster boy to write a course on how to analyze public market companies in the investors magazine, Canadian MoneySaver.

After being turned upside down and having all its financial innards put under a microscope, IWG emerged as a buy with a fair stock value of $0.30 cents – around five times its closing price of $0.065 cents on Nov. 23rd.

Mr. Tang’s company writes research on IWG, a Burnaby-based developer and supplier of high-tech water treatment and water handling technology for aircraft.

But in writing this in-magazine course on how to rip a company apart to determine its investment value, some interesting techniques emerged that aren’t part of standard analyst reports.

For example, how does an investor resolve the fact that IWG is overvalued based on an earnings-based multiples analysis but is undervalued on a total enterprise value?

Mr. Tang’s resolution was to rely on a discount cash flow model that was part of the last Fundamental Research Report on IWG in August 2010, wherein a stock value of $0.26 cents was arrived at. That same August analyst’s report then looked at additional factors to arrive at the fair market share value of $0.30 cents.

Mr. Tang also dealt with the issue of how IWG has a market cap of just $2.56 million, based on the Nov. 23rd close, which is almost equal to its working capital of $2.16 million, as shown in the August analyst report.

To read Mr. Tang’s full MoneySaver article please click here and scroll down until Brian Tang's name appears.

Hole One At Buchans North Strikes Massive Sulphides

Buchans Minerals Corporation (TSX-V: BMC)
Basic Shares 124.6 million
Fully Diluted 140.5 million
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Buchans' first hole from a drill program that started earlier this month has turned out to be a spectacular start. Assay results show the company hit semi-massive and massive sulphides right off the bat.

Grades of 7.32% zinc, 3.93% lead, 0.40% copper, 75 grams per tonne (g/t) of silver and 1.75 g/t of gold were intersected over 3.1 metres as announced in today’s news.

Please click on the image to enlarge

The current drilling program is designed to extend the known mineralization and potential deposit. There will be 2,100 metres drilled in a 5 hole drill program designed to follow up on the 2 holes drilled last year.

Last December, the company announced that it hit grades as high as 15.5% copper and 15.52% zinc and 148.9 g/t of silver from its first 2 drill holes. Hitting semi-massive and massive sulphides in the first hole this year advances management's theory that there is potentially a large deposit on this highly prospective property.

Buchans North sits only 500 metres from the former Buchans Oriental mine where past operators Asarco mined 3.3 million tonnes of high grade ore until 1983.

Full assay details and a map of the current drilling are available by clicking here.....

Stoneset's Latest Announcement Draws Press

Stoneset Equity Development Corp.(CNSX-SQC)
Shares Outstanding – 39.3 Million
Fully Diluted – 42.8 Million

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Stoneset ignited some press interest in Chilliwack. B.C. with its recent announcement it had optioned land near a lush and established mountain-side golf resort.

The 18-hole resort that overlooks the Fraser Valley and the town of Chilliwack, a 1.5-hour drive east of Vancouver, is called The Falls.

All going as planned, Stoneset is eyeing the development of up to 477 residential units, a 212-room hotel and approximately 2,740 sq. metres of commercial space.

Needless to say, that caught the attention of the local newspaper, The Progress.

Please click here, to read the full article.

Buchans And Benton Look For The Next Voisey's Bay

Buchans Minerals Corporation (TSX-V: BMC)
Basic Shares 124.6 million
Fully Diluted 140.5 million

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Buchans is working with a JV partner, Benton Resources (TSX-V: BTC) on its high priority target called Long Range in central Newfoundland, Canada.

Exploration on this property started with an airborne survey back in 2008. Review of the data from this initial survey and further work uncovered what is now called the Portage prospect. In 2009, grab samples assayed up to 2.7% nickel and contained high grade copper and cobalt as well.

Substantial geophysics, trenching and shallow drilling has been taking place at Long Range throughout 2010 and the news out today (November 19, 2010) announces that the company has expanded the Portage nickel and Range copper prospects.

This years exploration efforts have also identified a new target called the String Anomaly which has an apparent strike length of 600-800 metres. Planned drilling will take place early next year once the water above the anomaly freezes and allows access.

Warren MacLeod, President of Buchans has stated that "the Long Range joint venture continues to meet or exceed my expectations. This newly discovered mineralized environment similar in many ways to other magmatic nickel-copper sulphide camps in North America, including Voisey's Bay, continues to develop new prospects. Beginning with our initial airborne geophysical survey, the program has expanded to include ground prospecting, ground geophysics, trenching and shallow drilling that has already revealed the exciting Portage and Range discoveries and has the potential to identify other prospects such as the newly identified String anomaly."

A link to maps and further information on the Long Range property can be found here.....

Today's full news release can be found by clicking here....

Pure Nickel, Is There Gold At The End Of The Rainbow?

Pure Nickel
(TSX: NIC)(OTCBB: PNCKF)
Basic Shares: 67.8 million
Fully Diluted: 75.5

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Pure Nickel released news today (Nov. 18th) that shows it is advancing various properties in its portfolio in keeping with the objective of creating multiple opportunities. Today's news dealt with work on its 100% owned Rainbow Gold Property.

Rainbow was deserving of a closer look as past grab samples from the property assayed 26.5 grams per tonne (g/t) of gold. Pure Nickel extended the claims in this highly prospective area earlier this year.

Encouraging results from a soil sampling program that was carried out in September called a Mobile Metal Ion or MMI method was used to help detect the buried gold and nickel occurrences at Rainbow.

Previous owners of the property Falconbridge, now Xstrata was drilling for nickel in 2004 (hole RB04-04) when it intersected over 13 g/t of gold over 2.14 metres at a depth of 40 metres.
Two new gold anomalies were identified in and around this hole near surface in September's MMI program validating the accuracy of the geochemistry method.

Other nickel anomalies have been discovered above another past drill hole called RB04-02 where nickel had been previously intersected.

Further MMI soil geochemistry will aid in identifying future drill targers at Rainbow.

Section profiles of these two drill holes can be seen by clicking here.....

Today's full news release can be seen here....

Silvore Fox & Beijing Donia Resources Sign Strategic Agreement

Silvore Fox Minerals
SFX - TSXV
Shares Outstanding – 128.42 Million
Fully Diluted – 154.05 Million

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Today Silvore Fox Minerals announced it has signed a strategic agreement with Beijing Donia Resources. Donia is the parent company of Sino Minerals Corp., which currently owns 35.09% of Silvore Fox. The recently appointed Chairman of Silvore Fox, Dr. Jingbin Wang is also Chairman for Beijing Donia Resources.

Most of the terms of the agreement were listed in today’s press release. The points all of which are worth noting are as follows:

• The Corporation has access to Donia's contacts within China and globally;
• The Corporation and Donia will work together globally with a focus on the Americas;
• the companies will jointly focus on both precious and base metals;
• the companies will work together in acquiring resource properties and / or companies with desirable resource assets;
• Donia will provide The Corporation with technical support for the exploration program for its flagship "Coxheath Property";
• Donia or its nominee will have first option to fund the Coxheath Property mine upon mutually agreeable terms; and
• the term of the agreement is for ten years, however can be terminated by either party on giving three months notice.
The press release also provides a brief overview of Beijing Donia Resources Ltd.

“Donia specializes in overseas mineral resources exploration. Its mandate is to establish a large-scale overseas mineral resources exploration and development base. Donia's majority shareholder is China Non-ferrous Metals Resource Geological Survey, which is a Chinese state owned institution with over 300 employees, over 30 projects in Africa, Americas, and south east Asia with long term strategic partnerships with Chinalco, China National Gold group Co., and Shandong Gold Mining Co. Ltd.

Donia is currently conducting mineral resources exploration activities in Laos, Ethiopia, Eritrea, Angola, Saudi Arabia, Mongolia, Congo, Zimbabwe and Canada and has since incorporation in 2004, discovered 4 large-medium sized deposits. Donia has a staff of over 200 people with 60% with various technical backgrounds, including 10 people with PH.D degrees and 60 people with medium or senior technical titles. This has enabled Donia to form a well-equipped, well-structured, and capable international exploration team.”

To view the full press release, please click here

Smartcool Increases Sales Through Large Retailer

Smartcool Systems Inc.
(SSC: TSX-V)
Basic Shares 46.8 million
Fully Diluted 54.7 million
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It can be a slow process for any company trying to break into a large retailer but once the floodgates open all of the trials and tribulations can be well worth the effort.

Smartcool has proven this and has been working with Sainsbury's since 2007, which is the oldest grocery chain in the UK with close to 800 stores. Today, Smartcool announced that as a second phase roll-out, an additional 65 Sainsbury's locations have been retrofitted with Smartcool's technology.

This brings total installs to 104 stores. No financial information was provided in the news release.

The below points summarizes the hard work behind today's news:

-October/07 – conclusion - 6 week test at store #1
-December/07 -results presented to Sainsbury's
-Apr/08 – Jun/08 - test period at 7 additional stores
-Jul/08 – Aug/08 - additional data capture - 2 stores
-November/08 - data and savings report presented
-November/08 - initial project approved
-Technology installation in 39 stores by year end as phase one
-Total annual savings $637,000 USD from the 39 stores
-Energy savings = electricity to power 1,742 British homes for one year

Initially, annual installations were set at 30 to 40 stores. The success of Smartcool's technology drove the actual number muich higher than first projected.

Sainsbury's has not only realized substantial savings in dollars installing Smarcool's ESM technology but also appreciates the socially responsible reduction in greenhouse gas emissions that come hand in hand with the installation. Sainsbury's has started what is known as the RESET program where the mandate is to make each of its locations more energy efficient wherever possible.

Smartcool is a part of this process and expects a strong relationship with Sainsbury's throughout its phase three installations going into 2011.

Read today's news release here.....

The Trials and Promises in AMA's Q3 Results

AeroMechanical Services Ltd. (TSX:V-AMA)
Basic Shares: 103.6 million
Fully Diluted: 115.4 million

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(AMA will be presenting its Q3 2010 results via webcast and live conference call beginning at 2:30 p.m. MT (4:30 p.m. ET) today, November 17. To follow instructions to join that webcast, please click here.)

On those quarterly results, it's interesting to note that an accountant's dream can often be an investor’s nightmare.

Thus was the case with AeroMechanical's Q3 results where the company's GAAP revenue - which it must report - showed a drop in Q3 this year compared to the same quarter last year.

But on the measure that counts most to people, namely cash, AMA showed an increase in Q3 this year compared to the same quarter last year.

Cash revenue for Q3 2010 was $1,361 million while it stood at $1,133 million in Q3 2009.

GAAP is an accounting standard that doesn't allow AMA to recognize cash coming in its door for the sale of one of its blue boxes until the technology is installed and activated to generate monthly recurring revenue.

As such, GAAP revenue for Q3/10 stood at $1,081 million compared to the higher GAAP revenue in Q3/09 of $1,512 million. This was further distorted due to the unusually high spike in GAAP revenue in last year's Q3.

Another factor that puts AMA's finances into an odd category is research and development spending (R & D) on its next generation blue box, the afirs 228.

AMA Chairman and CEO Bill Tempany has been warming the market for many quarters that R & D spending this year and next was going to be extraordinarily high at something like $4.5 million.

R& D for a technology that management says will put AMA into a whole new league of business, dramatically skewed the same quarter-by-quarter loss comparisons

For example, the Q3 loss this year was $2.5 million compared to a far lower loss of $717 thousand in the same quarter last year when dramatically less was spent on R & D.

The quarterly results also screen the big picture.

It costs AMA approximately $5 million per year for operations, exclusive of R &D.

AMA President Richard Hayden wrote in his quarterly Letter to Shareholders that there are 303 blue boxes that have been shipped or are awaiting delivery. He said that each unit should generate top line revenue of between $350 and $500 thousand over the service life of each aircraft.

It's our understanding a little more than half of that number are generating revenues. When the day comes that all units are activated, annual recurring revenues should be in the range of $7 million - well over AMA's currrent operating costs of roughly $5 million annually. That's the meat and potatoes of AMA's business. The company hopes the gravy will come from partners like L-3 Communications, Sierra Nevada Corporation, GuestLogix and more.

And as Mr. Hayden wrote in his shareholder's letter there's another form of gravy AMA is after - business aircraft operators.

He wrote that "the largest operator of business aircraft in the world" completed a study on AMA's blue box technology and found the technology will give the operator a "solid return on investment."

"We are expecting publication of these results soon," Mr. Hayden added.
Just after the quarter end, AMA’s first aircraft manufactuer – Hawker Beechcraft Corporation – agreed to install a blue box on one of its demonstration corporate jets and offer the technology to its customers around the world.

To view the quarterly results news release, please click here.

Carfinco Gets Accolades Through The Globe And Mail

Carfinco Income Fund (TSX:CFN.UN)
Units issued: 23.9 million
Units fully diluted: 24 million
Current monthly distribution: $0.02
Q1/2010 special distribution: $0.04
Q2/2010 special distribution: $0.10
Q3/2010 special distribution: $0.10
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Vox columnist Fabrice Taylor who covers capital markets and investments for the Globe and Mail wrote a insightful piece on Carfinco that was published in the Globe yesterday.

Taylor is an award winning journalist who worked as a Chartered Financial Analyst in the brokerage industry for many years.

The Fund has caught the attention of Taylor, who is also a Carfinco unit holder. Here is a clip from his article:

"Investors in Carfinco get a piece of a fast-growing, well-run operation. The trust faces little competition and any new entrant will encounter barriers (it’s not easy to build relationships with 1,300 dealers). For the trouble of owning such a business, investors are paid 8 per cent while the units march gradually higher.

The easiest money has already been made, but it still looks like a prime investment, which is why I own the stock."

Read full article by clicking here......

Pure Nickel Finds Copper And Gold With Rockcliff Resources

Pure Nickel
(TSX: NIC)(OTCBB: PNCKF)
Basic Shares: 67.8 million
Fully Diluted: 75.5

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Pure Nickel and Rockcliff Resources (TSX-V:RCR) jointly announced results today from the first of two drill holes at the Tower copper-gold property in Manitoba. Rockcliff can earn up to a 70% interest in the property.

Assay result highlights include 10.5% copper, 3.6 grams per tonne gold (g/t), 2% zinc and 33 g/t of silver.

A minimum of 2,000 metres over 6 drill holes is planned by Rockcliff.

See full news release here......

Drilling Starts At Key Target Buchans North

Buchans Minerals Corporation (TSX-V: BMC)
Basic Shares 124.6 million
Fully Diluted 140.5 million

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Buchans announced today that its planned 2,100 metre drill program has started on the company's 100% owned high grade massive sulphide prospect 'Buchans North' located in Newfoundland, Canada.

The company plans to drill a minimum of 5 holes to follow up on its original discovery holes drilled last year that showed grades as high as 15.5% copper, 15.52% zinc, 148.9 grams per tonne of silver with significant lead and gold intersections as well. Drilling could be completed as early as the end of next month.

Buchans North sits only 500 metres from from the two past producing Buchans open pit mines where 3.3 million tonnes of high grade ore was mined up until 1983 by Asarco.

See maps and further information on Buchans North by clicking here......

Click here to view the news release here.......

Argonaut Intersects 303 metres of Copper, Molybdenum and Gold

Argonaut Exploration
AGA - TSX.V
Shares Outstanding - 25.2 Million
Fully Diluted - 35.9 Million

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Today Argonaut Exploration announced the second set of drill results from its 2010 exploration program on its High Gold property, 45 kilometres west of the town of Smithers, British Columbia.

Management believes this property is demonstrating mineral values associated with a large and economic copper molybdenum porphyry system. “The fact that the deposit is located 18 kilometres from a major highway with power and rail services should cause the industry to take note of a significant new discovery.”

Four holes were published, two from this year’s program and two holes that were resampled from an unpublished drill core extracted in the 1970’s.

Drilling highlights include:

















To read the full news release, please click here.

Buchans Well Received On First Road Show

Buchans Minerals Corporation (TSX-V: BMC)
Basic Shares 112.1 million
Fully Diluted 120.6 million


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Buchans Minerals President, Warren MacLeod spent time introducing its story to the investment community last week throughout Toronto and Montreal.

Firms such as Desjardins, Haywood, Clarus and D&D to name a few heard first hand why Buchans stands out from so many other junior exploration companies and why management believes Buchans is very undervalued at today's share price.

Mr. MacLeod was very well received throughout the meetings where he pitched to approximately 100 brokers, analysts, fund managers and sophisticated investors over the trip.

Vancouver and Calgary are scheduled next and the trip is planned to happen before the end of November.

Neptune Product Excels in Animal Tests

Neptune Technologies & Bioresources
NTB - TSX V) (NEPT - NASDAQ)
Basic Shares: 40.2 million
Fully diluted: 43.1 million

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Animal tests of a highly-refined krill oil developed by Neptune Technologies' subsidiary, Acasti Pharma Inc., showed that the krill oil was dramatically better at controlling a pre-diabetic state than the currently marketed drug called Lovaza®. Lovaza® is made from fish oil.

The Acasti product called CaPre™ reduced a marker for the disorder - impaired glucose tolerance (IGT) - by 35% after three months.

By comparison, Lovaza® showed just a 5% reduction after three months of treatment. Lovaza® is the only FDA approved prescription fish oil solely indicated for the treatment of very high triglycerides - one measure of high cholesterol levels.

A respected market research firm calculated that Lovaza® topped $1 billion in sales in 2009, with $758 million of those revenues coming from the United States. GlaxoSmithKline acquired the USA right to Lovaza® by paying $1.65 billion.

It's unsaid but clear that Neptune is at the front end of a program to ultimately prove that it should or could be worth as much as Lovaza®. Human clinical studies are necessary and are the next step in providing further weight to Neptune & Acasti's argument that much greater value is to come for their respective shareholders.

To read more about the animal test, please click here.

Howard Group Investor Conference Now Available Online

On October 25, 2010 The Howard Group hosted its 2nd Annual "Opportunity Knocks" Investor Conference in Calgary Alberta Canada. The event was video recorded and is now available for viewing on The Howard Group's website - http://www.howardgroupinc.com/conference2010.html

The following companies presented (in order of appearance):

Argonaut Exploration (AGA: TSXV),
AeroMechanical Services (AMA: TSXV),
Neptune Technologies & Bioressources (NTB: TSXV),
Silvore Fox Minerals (SFX: TSXV),
Carfinco Income Fund (CFN.UN: TSX),

To view each company's investor presentation, please click here.

Unique Green Project For Calgary

Stoneset Equity Development Corp.(CNSX-SQC)
Shares Outstanding – 39.3 Million
Fully Diluted – 42.8 Million

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What does a blushing bride, the birds and the bees, an internationally-acclaimed choral composer and a city sewage system have in common?

They’ll all be part of a cutting-edge, green development project in northwest Calgary that was recently announced by Stoneset Equity Development Corporation.

Among the many eye-catching features of this mixed urban project - that borders one of the biggest city parks in the country - will be two rooftop gardens sitting on top of two condominium complexes. One of the gardens will be open to the public and since a church is also part of this proposed development, some brides will no doubt choose the garden for photographs after their weddings.

The birds and bees will join them.

Also working in the Anglican church that will be part of the project is choirmaster, Alan Bevan, a choral composer whose works have been performed in Moscow and other world-class cities around the globe.

Plans call for the project to contain a Montessori Child Care facility, a senior’s condominium project, the new church called Holy Cross Anglican Church and commercial condominiums. Altogether, the proposal calls for 42 condominiums.

The entire project will create more power than it consumes and all the grey water from every building will be treated on site. That solar aquatic treatment facility will be open to all Calgary school children so they can learn how to be better stewards of water.

In fact, this entire project will use less water than the old church and three houses that currently sit on the 13-lot site.

To read Stoneset’s press release, please click here.