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Viking Systems Incorporated


 

Trading Review for Viking Systems Inc. Issued by Beacon Equity - Zibb.com

BeaconEquity.com announces an investment report featuring medical device maker Viking Systems Inc. (OTCBB:VKNG). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.

The investment report on Viking Systems Inc. (OTCBB:VKNG) should be of particular interest to medical device companies: Boston Scientific Corp. (NYSE:BSX), Medtronics Inc. (NYSE:MDT) and Saint Jude Medical Inc. (NYSE:STJ).

It is available at: http://www.beaconequity.com/i/VKNG

Get our alerts BEFORE the rest of the market. Follow us on Twitter: http://twitter.com/BeaconEquity

Viking Systems Inc. (VKNG) develops, manufactures and markets visualization medical devices to aid surgeons during minimally invasive outpatient surgical procedures. The Company partners with other medical device manufacturers and medical facilities to deploy the Company's proprietary technology to aid surgeons and minimize recovery time of patients.

Message Board Search for VKNG: http://www.boardcentral.com/boards/VKNG

In the report, the analyst notes:

"Since the Company's inception, funding for the development of its products came through the sale of equity securities and convertible debt. From January 1, 2004, through September 30, 2009, the Company raised $10,750,00 through common and preferred stock sales and $13,600,000 through the issuance of debt. As of the close of the latest quarter ending September 30, 2009, the Company reported $214,510 in cash.

"In October 2009, the Company received a purchase order of $897,400 from the U.S. Army for the Company's proprietary 3Di technology. Payment is expected in November 2009."

To read the entire report visit: http://www.beaconequity.com/i/VKNG

See what investors are saying about these stocks at: http://www.stockhideout.com/

BeaconEquity.com is one of the industry's largest small-cap report providers striving to provide a balanced view of many promising small-cap companies that would otherwise fall under the radar of the typical Wall Street investor. We provide investors with an excellent first step in research and due diligence by providing daily trading ideas, and consolidating the public information available on them. For more information, please visit http://www.BeaconEquity.com

Beacon Equity Disclosure

DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS REPORT. We are not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission (the "SEC") or with any state securities regulatory authority. We are neither licensed nor qualified to provide investment advice. Beacon nor its affiliates have a beneficial interest in the mentioned company; nor have they received compensation of any kind for any of the companies listed in this communication. The information contained in our report is not an offer to buy or sell securities. We distribute opinions, comments and information free of charge exclusively to individuals who wish to receive them.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Beacon Equity

CONTACT:  Beacon Equity
Jeff Bishop
(469) 252-3505
press@beaconequity.com

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Tags: army   broker   dealer   debt   equity   investment   investment opinion   manufacturer   medical   nyse   products   research   sec   securities   small cap   technology  

Companies: Boston Scientific Corp. (BSX), Medtronic, Inc. (MDT), St. Jude Medical, Inc. (STJ), Viking Systems, Inc. (VKNG)

 

www.standoutstocks.com: Stocks That Stand Out For Nov. 4th, 2009 Are VKNG, BLVI, EGMI, GORO, PFAP -

Stocks That Standout For Nov. 4th, 2009 are Viking Systems, Inc. (OTCBB: VKNG), Black Art Beer Importers Inc. (PINKSHEETS: BLVI), Electronic Game Card, Inc. (OTC Bulletin Board: EGMI), Gold Resource Corp (OTCBB: GORO), Pacific Asia Petroleum, Inc. (OTCBB: PFAP)

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Viking Systems, Inc. Reports Third Quarter Results; Provides Business Updates

WESTBOROUGH, Mass., Nov 3, 2009 -- Viking Systems, Inc. (OTCBB:VKNG), a supplier of 2D and 3D visualization systems for the medical market, today announced results for the quarter ended September 30, 2009. The Company reported that it has made significant progress in its objective to reach sustainable positive cash flow from operations and that it is exploring strategic and financing options in order to fund anticipated 2010 operating losses while the Company develops and launches its "Next Generation" 3DHD Visualization System. Additionally, the Company discussed a significant order for its current 3Di system, its technology outlook and several pending changes in its management and governance structure.

Third quarter and year-to-date financial results Sales. Sales were $1,995,614 for the three months ended September 30, 2009 and $1,585,826 for the three months ended September 30, 2008, representing an increase of 26%. For the nine months ended September 30, 2009, sales increased 16% to $5,149,504 compared with the same period in the prior year. The increase in sales during the quarter ended September 30, 2009 was due to increased sales of approximately $590,000 of a proprietary visualization system designed for and distributed by one specific customer as they elected to increase inventory levels of such product. Sales to this customer increased by approximately $1,210,000 during the nine months ended September 30, 2009 compared with the same period in the prior year.

Net loss. The net loss was $195,877, or $0.00 per share for the quarter ended September 30, 2009 compared with a net loss of $43,599, or $0.00 per share for the same period in 2008. Other income included a $1,000,000 license fee in the quarter ended September 30, 2008. For the nine month periods ended September 30, 2009 and 2008 the Company incurred net losses of $882,669 or $0.02 and $5,055,726 or $0.12 per share, respectively.

Operating loss. As a result of increased sales, higher margins and reduced operating expenses the Company has substantially reduced its operating losses. The operating loss was $193,316 for the quarter ended September 30, 2009 compared with $1,044,557 for the same period in 2008. For the nine month periods ended September 30, 2009 and 2008 the Company incurred operating losses of $996,863 and $3,947,760, respectively. The operating loss before non-cash charges was $34,418 for the quarter ended September 30, 2009 compared with $803,047 for the same period in 2008. For the nine month periods ended September 30, 2009 and 2008 the Company incurred operating losses before non-cash charges of $435,654 and $2,595,724, respectively.

U.S. Army Orders 3D Systems In October 2009, the Company received the largest order in its history for its proprietary 3Di vision systems. This order, totaling approximately $900,000, was from the U.S. Army for deployment of one of our complete 3Di systems at each of seven regional Army Medical Centers throughout the United States. We anticipate having all seven systems installed and operational before-year end 2009. This is a follow-on order to the single system already in place at Walter Reed Army Medical Center in Washington, DC.

Technology Update In October, a major milestone was achieved when Viking Systems' "Next Generation" 3DHD camera system was demonstrated to the surgical community utilizing a prototype Sony 3DHD flat panel display at the American College of Surgeon's 95th annual Clinical Congress in Chicago. Jed Kennedy, Viking's president and chief operating officer, described the reaction of the medical community saying, "We were extremely pleased with the level of interest shown by all surgical specialties. Well over 1,500 attendees waited their turn to see the interactive 3DHD demonstration and appeared delighted with what they experienced. While 2D high definition cameras now represent the vast majority of placements in the approximately $1 billion surgical video systems market, it is now clear that 3DHD is the next advancement in endoscopic surgical vision." Viking and Sony plan a similar demonstration at MEDICA, the world's largest medical device trade show, held every year in November in Dusseldorf, Germany. In parallel, a group of clinical advisors is being organized to provide guidance on the clinical requirements for this "Next Generation" system.

Later this month, Viking Systems plans to deliver a "designed to specification" prototype high definition 3DHD visualization system to a manufacturer of surgical robotic systems as part of a development agreement. The system prototype is a key deliverable in the completion of the development arrangement. While there can be no assurance that at the completion of the development contract a supply agreement will be awarded, Viking believes that the new product has several unique features that will address specific market needs and that the Company is well positioned to support any production needs for the system.

Over the next twelve months Viking Systems intends to complete the development of its unique "Next Generation" 3DHD Visualization System for Minimally Invasive Surgery and currently plans to launch the system at the American College of Surgeon's 96th annual Clinical Congress in October 2010 in Washington, DC.

Financing Update Viking disclosed in previous public filings that in the fourth quarter of 2008 it engaged an investment banking firm to assist management in exploring strategic options. A number of third parties executed confidentiality agreements with the Company during this process. Over the past nine months the Company has had and, in some instances, continues to have varying levels of discussion with certain of these parties. However, absent expeditious developments related to a potential sale of the Company, Viking plans to seek adequate financing to support operations during the commercialization of its "Next Generation" 3DHD system.

Management and Governance When Viking Systems was recapitalized on January 4, 2008, William C. Bopp, currently chairman and chief executive officer, signed a two year employment agreement. At the end of 2009, it is the intention of the Board of Directors to promote and appoint John "Jed" Kennedy, currently president and chief operating officer, to the position of president and chief executive officer. It is anticipated that Mr. Bopp will continue to serve as Chairman of the Board of Directors. Mr. Bopp said, "This transition recognizes the contributions of Mr. Kennedy to the success of Viking Systems to date and the Board's confidence in his leadership ability for the future." Separately, J. Winder Hughes has tendered his resignation from the Board effective November 2, 2009. Mr. Hughes has indicated his interest in assisting the Company in raising funds and believes it will be in the Company's and his best interest if he is an independent investor able freely to participate in such a financing. Mr. Bopp said, "We have valued Winder Hughes' counsel as a Board member and look forward to a continued association with him should a financing be undertaken." About Viking Systems, Inc.

Viking Systems, Inc. (OTCBB:VKNG) is a leading worldwide developer, manufacturer and marketer of visualization solutions for complex minimally invasive surgery. The Company partners with medical device companies and healthcare facilities to provide surgeons with proprietary visualization systems enabling minimally invasive surgical procedures, which reduce patient trauma and recovery time. For more information visit the Company's website at: www.vikingsystems.com This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are estimates reflecting the best judgment of our management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These forward-looking statements should, therefore, be considered in light of various important factors, including the following: the impact of the global economic recession and tight credit market and related impact on health care spending; possible health care reform in the United States and its implications on hospital spending, reimbursement, and fees which may be levied on certain medical device companies; timing and success of product development and market acceptance of developed products; regulatory approvals, clearances and restrictions; guidelines and recommendations in the health care and patient communities; intellectual property positions and litigation; competition in the medical device industry and in the specific markets of surgery in which Viking Systems operates; unanticipated manufacturing disruptions; the inability to meet demand for products, and the other factors detailed from time to time under the heading "Risk Factors" in our report on Form 10-K for the year ended December 31, 2008, as updated from time to time by our quarterly reports on Form 10-Q and our other filings with the Securities and Exchange Commission. Statements concerning forecasts, revenue growth, procedure growth, future financial results, and statements using words such as "estimate", "project", "plan", "intend", "expect", "anticipate", "believe" and similar expressions are intended to identify forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We undertake no obligation to publicly update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.

Black Art Beer Announces High Traffic Advertising Program

Premier German Beer Importer to Unveil Impact Publicity

FORT LAUDERDALE, FL, Nov 03, 2009 -- Black Art Beer Importers Inc. (PINKSHEETS: BLVI) announced the placement and unrolling of their high traffic advertising program today. This program will make the Company and its products visible to over 9.1 million consumers.

"We have been very fortunate to get a premier advertising spot on the Florida Turnpike in the most trafficked area in the state. Over 71,000 cars an hour pass through this area on their way to the Orlando theme parks and will be able to see our branding and provide an opportunity for marketing to our target audience. It's a great opportunity to sell some beer," said Mike Coffman, Black Art Beer COO.

The Outdoor Advertising industry has nearly doubled since 2003, from $2.19 billion to $5 billion in 2008. These numbers continue to grow each year highlighting the effectiveness and return on investment opportunities in the industry.

John Adams, Black Art Beer CFO, said, "Marketing campaigns deploy a variety of advertising tools focused on engaging new customers and we view outdoor advertising as an integral part of our strategy. They bombard the senses with information about the specific product and billboards are one tool in the toolkit. When billboard advertising is combined with proven strategies for revenue growth, they can enhance a company's market position and overall image thus contributing to the success of the marketing campaign." For information on other Black Art Beer events please see our website http://www.blackartbeer.com or look for us on Facebook as Black Art Beer and become a friend of the brewery.

About Black Art Beer Black Art Beer is produced in Germany and exported to the United States exclusively through Black Art Importers. Black Art's current products include the flagship Black Art beer, a dark premium pilsner, and Black Art Gold, a smooth and light pilsner. Other styles and draft keg beer is forthcoming. For more information, please visit: www.blackartbeer.com.

About Black Art Beer Importers, Inc.

Black Art Importers is a Florida corporation engaged in the business of distributing the Black Art brand. Black Art Beer Importers, Inc. is a wholly owned operating company of Black Art Beverage, Inc.

About Braustolz Brauerie AG.

Black Art pilsner beers are brewed and bottled by Braustolz GmbH in Germany. Braustolz has been in operation since 1868, brewing beer according to the German Purity Laws of 1516, which results in superior quality. Braustolz is a wholly owned subsidiary of a Brewery Group headed by Kulmbacher Brewery all based in Germany.

Forward-Looking Statements Statements made in this press release that are not historical facts constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21 of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Such statements rely on a number of assumptions concerning future events, many of which are outside of the Company's control, and involve risks and uncertainties that could cause actual results to differ materially from opinions and expectations. All information in this release is as of the date hereof. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.

Electronic Game Card, Inc. Mourns the Passing of its Executive Chairman, The Lord Leonard Steinberg

--CEO Kevin Donovan and Board Member Eugene Christiansen to serve jointly in the Interim Office of the Chairman

IRVINE, Calif., NEW YORK and LONDON, Nov 03, 2009 -- Electronic Game Card, Inc. (OTC Bulletin Board: EGMI) ("EGC"), announced today with great sadness that the Company's Executive Chairman, Leonard Steinberg, Baron Steinberg of Belfast, died suddenly of a heart attack November 2, 2009 on his 73rd birthday in London, England.

Lord Steinberg was one of Britain's most successful businessmen and one of the most well known personalities in the gaming industry. He founded Stanley Leisure in Belfast in 1958 with one licensed betting shop. Stanley Leisure plc became the largest casino operator and fourth largest retail bookmaker with 600 shops in the United Kingdom. In 2005 Stanley Leisure's retail bookmaking operations were sold for pounds Sterling 504 million (approximately $1 billion) and returned pounds 327 million (approximately $650 million) to shareholders. In 2006, Stanley Leisure then sold the 45 casinos to Genting International for approximately $1.3 billion.

In addition to his highly successful business career, Lord Steinberg was made a Conservative Life Peer in 2004 and was an active member of the House of Lords in the United Kingdom. He was a well known philanthropist as Founder and Chairman of the Steinberg Family Charitable Trust.

"Leonard's passing gives me much pain and sadness and a tremendous sense of loss for his family, many friends and colleagues. All who knew Leonard greatly admired his wisdom, support and personal approach to relationships. Words cannot describe how much we all respected Leonard and appreciated the opportunity to work closely with him," commented Kevin Donovan, interim Joint Chairman and CEO of Electronic Game Card, Inc. "While we are all deeply saddened with his passing, management, the Board and company consultants will continue to work hard to take this company to the next level, and are accelerating our commitment to growth to honor this great man and the faith he had in us and the future of the company." Interim Joint Chairman Eugene Christiansen said, "This news has come as a shock to all of us. We are deeply saddened. The Steinberg family is in the midst of their mourning period. The company is convening its Board of Directors to take appropriate actions in light of this unfortunate and untimely development."

Gold Resource Corp announces start-up of crushing plant at El Aguila Project mill, Mexico

Nov 03, 2009 -- Mining company Gold Resource Corp (OTCBB:GORO) (Frankfurt:GIH) declared on Monday the start-up and commissioning of the crushing plant at its El Aguila Project's mill in the southern state of Oaxaca, Mexico.A A The company said it has continued the stockpiling of the Aguila open pit oreAin preparation for initial production at the El Aguila Project. A The Aguila mill is in the last stage of construction and is reportedly targeting gold production in 2009, subject to equipment delivery and construction schedules.

Pacific Asia Petroleum Announces Approval for NYSE Amex Listing

HARTSDALE, N.Y., Nov 03, 2009 -- Pacific Asia Petroleum, Inc. (OTCBB:PFAP), engaged in the business of oil and gas development, production and distribution in Asia and the Pacific Rim countries, announced today its common stock has been approved for listing on the NYSE Amex. Trading is expected to begin on November 5, 2009 under the new ticker symbol PAP (NYSE Amex: PAP). Prior to that date, Pacific Asia Petroleum's shares will continue to trade on the Over-the-Counter (OTC) Bulletin Board.

"Moving from the OTC Bulletin Board to the NYSE Amex is another tremendously important milestone for Pacific Asia Petroleum," said President and CEO Frank C. Ingriselli. "We have always prided ourselves on our conservative accounting, transparency and corporate governance. Moving up to the NYSE Amex not only validates these efforts, it provides us with greater visibility for our company, more liquidity for our stock and the opportunity to further expand our investor base. We believe that this move will deliver more value for our shareholders now and down the road." "We welcome Pacific Asia Petroleum to NYSE Amex," said Scott Cutler, Head of Listings, Americas. "Pacific Asia Petroleum and its shareholders will benefit from the superior market quality, technology, and services provided by listing on NYSE Euronext markets. Pacific Asia Petroleum is a welcome addition to our roster of leading energy companies, and we look forward to a strong and lasting partnership." About Pacific Asia Petroleum, Inc.: Pacific Asia Petroleum, Inc. engages in the business of oil and gas exploration, development, production and distribution in Asia and the Pacific Rim countries, with a specific focus on developing a broad range of energy opportunities, including clean and environmentally-friendly natural gas ventures, in China. The Company's executive offices are located in Hartsdale, New York, and the Company also has offices located in Beijing, China and California.

Forward-Looking Information Statements Some of the items discussed in this press release are forward-looking statements about Pacific Asia Petroleum's activities. Words such as "anticipates," "expects," "plans," "projects," "believes," "seeks," "estimates," and similar expressions are intended to identify such forward-looking statements. The statements are based upon management's current expectations, estimates and projections, are not guarantees of future performance, and are subject to certain risks, uncertainties and other factors, some of which are beyond the Company's control and are difficult to predict. Among the factors are changes in prices of, demand for and supply of crude oil and natural gas; actions of competitors; results of additional testing; timely development of production opportunities and acquired technologies; the potential disruption or interruption of testing and development activities due to accidents, political events, civil unrest, or severe weather; government-mandated restrictions on scope of company operations; general economic and political conditions; the Company's need and ability to obtain capital; the Company's ability to successfully consummate contemplated acquisitions, obtain required government approvals, and integrate the acquired entities and operations into the Company's business; and other risks described in the Company's filings with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, Pacific Asia undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

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Companies: Black Art Beverage Inc (BLVI), Gold Resource Corp (GORO), Pacific Asia Petroleum Inc (PFAP), Viking Systems, Inc. (VKNG)

 

Viking Systems, Inc. Reports Third Quarter Results; Provides Business Updates - Zibb.com

Zibb.com | Nov 3, 2009

Viking Systems, Inc. (OTCBB:VKNG), a supplier of 2D and 3D visualization systems for the medical market, today announced results for the quarter ended September 30, 2009. The Company reported that it has made significant progress in its objective to reach sustainable positive cash flow from...

 

www.StockMarketingInc.com: Here It Here First!! Sign Up For Our Free Newsletter!! SNWT - San West,

Zibb.com | Nov 4, 2009

STOCK MARKETING INC PRESENTS : (OTCBB: SNWT - San West, Inc.) (OTCBB: LFBG - Left Behind Games, Inc.) (OTCBB: VKNG - Viking Systems, Inc.) (PINKSHEETS: HESG - Health Sciences Group, Inc.) (OTCBB: PFAP - Pacific Asia Petroleum, Inc.) (PINKSHEETS: IVIT - Invicta Group, Inc.) www.StockMarketingInc.com...

 

Web Sites

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Townsend, Inc.

Situation Viking Systems had recently acquired 3D digital vision system technology and needed to repackage and launch the product under the Viking Systems name.

http://www.townsendinc.com/casestudies/vikingsys.php

Viking Systems

75% of blindness worldwide is avoidable. Help prevent blindness and restore sight with a donation to www.orbis.org.uk. Give medical aid to those affected by war, natural disasters and poverty through Medicin Sans Frontiers: www.msf.org/

http://www.mtbeurope.info/directory/vikingsystems.htm

Viking Systems, Inc. (Viking) is engaged in the development and distribution of high-performance...

Viking Systems, Inc. (Viking) is engaged in the development and distribution of high-performance laparoscopic vision systems. The companys product line includes the 3Di Vision System, 2Di-HD Vision System, ViView Vision Products and the Information Integration Platform.

http://www.researchandmarkets.com/reports/692273/viking_systems_inc_strategic_analysis_review.pdf

LiveData - Viking Systems and LiveData Collaborate to Integrate Clinical Data, Oct. 9, 2006

Viking Systems, Inc. (OTC BB:VKSY.OB), has signed a letter of intent with LiveData, Inc. to integrate LiveData OR-Dashboard™ and other associated technologies into Viking's 3-D and 2-D vision systems and exclusive Infomatix™ platform.

http://www.livedata.com/index.php?option=com_content&task=view&id=76&Itemid=104

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Viking Systems - Home

www.vikingsystems.com

Medical Professionals Hospital Administrators Patients Company Overview Viking Medical Technologies (OEM)

http://www.vikingsystems.com/

Viking Systems Incorporated Company Details

www.zibb.com

Trading Review for Viking Systems Inc. Issued by Beacon Equity - Zibb.com. DALLAS, Nov 18, 2009 (GlobeNewswire via COMTEX) -- BeaconEquity.com announces an investment report ...

http://www.zibb.com/all/theme/cq/Viking+Systems+Incorporated

Viking Systems, Incorporated - Company Profiles - Resources ...

www.portfolio.com

Find business news, business blogs, executive career advice, business travel, business culture, company & executive profiles.

http://www.portfolio.com/resources/company-profiles/Viking-Systems-Incorporated-7910

J. Winder Hughes Profile - Forbes.com

people.forbes.com

Mr. Hughes was appointed to our board of directors in October 2007. Since ... Top Executives at Viking Systems, Incorporated

http://people.forbes.com/profile/j-winder-hughes/130936