IceColdStocks.net Friday Morning, April 20th

Site News:
Hidden Treasure Update:
CFPC:
There are 3 dominant players in the JamaicaBlueMountain coffee industry each controlling approximately 30% of market share. They are:
Mavis Bank Coffee Factory - A private business owned by the Munn family
Wallenford Coffee factory - owned by the government
Blue Mountain Coffee Coop - owned by the farmers

Jamaica Blue Mountain annual green bean production is between 4 and 6 million pounds
I will use an average of 5 million pounds per year for calculating a hypothetical scenario.
These production numbers are stable barring any natural disasters like hurricanes which would limit the supply but also drive the price up.

Our relationship with Blue Mountain Coffee Co-operative (BMCC) announced January 19, 2007 gives us 30% of the annual production or roughly 1 and a half million pounds per year. If we wholesale this volume of production at the green bean stage, making an average of $7.00 pound, it would mean $10.5 million to the bottom line. Assuming 30 million shares out this is 30 cents per share earnings under our present signed and contractual arrangements with BMCC.

If we would roast 50% and wholesale the balance as green bean, making $7 and $14 per pound, our gross margin would balloon to $15.75 million or 52 cents per share earnings.

The PE in the industry is 30 to 40 times earnings.

Interesting to note there are changes occurring in Jamaica with the government owned coffee factory. If we were to bring that under our umbrella of operations as well, that would mean we could earn between 60 cents and $1.04 per share, just with the Jamaica market.
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Breakouts the Ice Man may consider trading:
ITRI - 70.60
AME - 36
AEP - 50.05
STRA - 126
MICC - 85

Regular Trades the Ice Man may consider:
YRCW - 43.85
JCI - 97.90
SAFT - 40.51
SAIA - 25
SKX - 35.90

Depressed stocks the Ice Man may buy or short to the gap:
TSL - 51.70 * Best Bet
GLD - 67 Gap
PTR - 112.40 Gap
BAC - 50.50 Gap
SLV - 133.40 Gap
PAAS - 29.40
SIRF - 23.90 Gap
FSLR - 58.59 * Best Bet

Dollar Man Ideas:
CYRX - 2.10
IMH - 5.01 Bid
FBR - 6
ACMG - 0.04

Cramer's Comments:
Bullish: AMX, TTEK, CHTR;


Richard the Break-out Buyer Video Summary:
Break out buy watch list for short term gains April 20 includes: AMSF, CFCP, CVA, ERJ, ELR, LWSN. OI, NCTY.

Several candidates for break out or pullback plays for at least short term gains by buying the break out on good volume and selling at least some on the first day.

Swing Man Market Recap:
by Steve Nelson

The market gapped down to open the session on the heels of heavy overseas selling but once again the market found a bid and rallied to close mixed. The Dow gained a few points while the SPX and Nasdaq gave back a few points. The market tried very hard to sell off today but those bears just won't allow it to correct they way we'd prefer. As the market was retreating, they bought puts which serves to put a bid under the market which led to another rally attempt. The fact that the markets are overbought saved the bears from any more damage. The market is attempting to unwind those oscillators and it is occurring but at a very slow pace. Truthfully, a good hard sell would allow the process to be expedited but for now we must reflect the bullish action despite the market being overbought. This type of trading also may be due to options expiration this Friday - the players want the markets to close in these areas for max pain.

As a result of the recent rally up towards the February highs, many of the indices have formed a pattern commonly called a cup. It now appears that many indices are attempting to create a "handle" off the right side of this cup formation. Handles are typically formed with choppy trading and appear on the charts as sideways to slightly down candlesticks. This action shakes out the weak hands and allows the oscillators to unwind and help to build up pessimism.

There is strong support between 2470 and 2500 on the Nasdaq so make a note of those levels if the pullback were to continue. There is still a bid in this market but when you get very overbought it will test you emotionally so just try to recognize what's taking place and adapt to it all. As the market is consolidating, traders make the mistake of being too impatient due to the mindset created from the rally. Try not to lose perspective over the activity in the marketplace and please realize that it's healthy for the market to pause. Stochastic readings remain extremely high thus it seems unlikely the market is quite ready to make its next upward break. Nothing is definite but one needs to consider the odds when making investment decisions.

Although the small caps have softened a bit over the past few sessions, only the Nasdaq/NDX has truly lagged since it has yet to break out. However, I feel it's only a matter of time before these indices join the party. Sentiment issues alone should propel this break. Even the semiconductors are starting to catch a bid and it has been awhile since we could say that. One day at a time here as we navigate the markets and wait for a better buying opportunity to add more plays.

Good Trading.

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CNBC Fast Money Review:

1. The Top 3
Googling For Dollars
Bolling: Loves GOOG. GOOG busines expanding. Own it now.
Adami: Likes GOOG.
Macke: GOOG faces too many lawsuits.
Najarian: GOOG can drop suddenly.

Global Trading Domination
Bolling: NDAQ need to go global. NYSE has tailwind.
ADami: NDAQ trades 24 times forward earnings. NYX trades 38 times earnings. Own NDAQ on valuations.

Uh Oh! Moto
Najarian: Bottom for MOT. Carl Icahn will resurrect MOT. Bullish MOT options trading.
Bolling: Not much upside to MOT. Consumers will wait for AAPL iPhone.
MCKE: Without Icahn MOT is $12 stock. Don't hold long term.

2. Street Fight
SIRI - Greenberg is winner.
Greenberg: Merger with XMSR is now win situation. Stock down after deal.
Macke: Subscriber growth up 82% in '06.

TOL - Adami is winner.
Greenberg: Homebuilders still vulnerable to subprime loans.
Adami: TOL up 9% in less than week.

FRZ - Bollng is winner.
Greenberg: FRZ has tons of competition in fragmented industry.
Bolling: FRZ has no competition. Has 30% higer revenue year over year.

3. Word on the Street
Off the Floor
Mike McCarty, Morgan Stanley Head of Program Trading
McCarty: Increased flows into financials, health care, and engergy. Out of consumer discretionary sector.

Casualty of Price War
Macke: AMD moved higher after hours. Potential private equity deal.
Bolling: Could be a buy signal.
Najarian: AMD is dead. Stay away.

4. Face 2 Face
Dana from OH - Large dividend put plays?
Najarian: Look at FRO - paid 22% dividend.

Peter from CT - SPWR?
Adami: SPWR up 120% since July. Little rich now. Buy on $5 dip. Also likes ESLR but also little rich.

Daniel Negreanu - WYNN, SHFL, ITG?
Bolling: Stay away from SHFL. Likes WMS, MHGC, MPEL.

5. Fast Money World
Another China Market Scare
Bolling: China's growth this year equals Canada, Mexico, Spain combined.
Likes UTX.
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Dow Jones News:
Pfizer Inc. (PFE) said on Friday quarterly earnings fell on special charges, anemic sales of inhaled diabetes drug Exubera and plunging demand for drugs facing generic competition, sending shares down 2.5 percent. - Reuters

Honeywell (HON) beat first-quarter earnings estimates and raised full-year guidance. The Morris Township, N.J., conglomerate made $526 million, or 66 cents a share, for the quarter ended March 31, up from the year-ago $436 million, or 52 cents a share. Sales rose to $8.04 billion from $7.24 billion a year earlier. Analysts surveyed by Thomson Financial were looking for a 62-cent profit on sales of $7.72 billion. - TSC

Caterpillar Financial Services Corporation (CAT) today reported record first-quarter revenues of $713 million, an increase of $56 million, or 9 percent, compared with the same quarter in 2006. First-quarter profit after tax was a record $125 million, a $7 million, or 6 percent, increase over the first quarter of 2006.

McDonald's Corp. (MCD) reported higher first-quarter earnings on Friday on strong U.S. demand for its new chicken Snack Wrap and improved performance in international markets such as China, Japan, France and Russia. Net income rose to $762.4 million, or 62 cents per share, from $625.3 million, or 49 cents per share, a year earlier. The results matched a better-than-expected earnings forecast that the world's largest restaurant chain gave last week. At that time, Wall Street analysts, on average, had been expecting 57 cents a share, according to Reuters Estimates. - Reuters

AXP American Express Calyon Securities Price Target Raised Buy $67 to $68;

MRK Merck Prudential Price Target Raised Neutral $48 to $55;


Breaking News:

Google’s profits surged 69%, largely because of higher advertising revenue from Web-search activity. Revenue rose 63%, although the rate of growth continued to slow. - WSJ

AMD says they are completely open to a private equity deal.

M&A Activity:
H&R Block Inc. (HRB), the largest U.S. tax preparer, agreed to sell its subprime lender Option One Mortgage Corp. to an affiliate of Cerberus Capital Management L.P., and said it is closing the unit's H&R Block Mortgage Corp. The cash purchase price will be the value of the tangible net assets of the business at the date of closing, less $300 million. As of January 31, the tangible net assets of Option One were $1.27 billion, the company said in a statement. - Reuters

IPO Central:
IPOs coming out today:

Superior Offshore International Inc. (DEEP) priced 10.17 million shares at $15 a share in a bid to raise $153 million with underwriters Merrill Lynch and J.P. Morgan in its initial public offering on Friday. The Lafayette, La. provider of under water construction and diving services to the oil and gas industry in the Gulf of Mexico is debuting its IPO it the middle of its $14-$16 estimated price range. In a sign of healthy interest for the deal, the company increased the size of the offering by 1.53 million shares. Chairman Louis E. Schaefer, Jr., 63, will own 13.3 million shares representing 52% of the outstanding common stock upon completion of the deal. - MarketWatch

Simcere Pharmaceutical Group (SCR) on Friday priced its initial public offering of 15.62 million shares at $14.50 a share, the top end of its $12.50-$14.50 a share IPO price. Simcere Pharmaceutical Group raised $227 million in the IPO with underwriters Goldman Sachs (Asia) LLC, CIBC World Markets, Piper Jaffray & Co and First Shanghai Securities Ltd. The China-based maker of generic pharmaceutical maker reported net income of $22 million and revenue of $122 million in 2006. - Marketwatch

IPOs on schedule for week of 4/23:

CardioMEMS (SENS). The Company develops miniature wireless sensors to monitor chronic cardiovascular diseases. The company is selling 6M shares at the initial range between $12-$14. The company announced Revenues for the last 12 months of $2M and Net Income of $(-17)M. The Lead Manager is Bank of America and Jefferies is Co. Manager. CardioMEMS (SENS) is headquartered in Atlanta, GA and their website is www.cardiomems.com.

Cinemark Holdings (CNK). The Company Operates 396 movie theaters and 4,488 screens in the U.S. and Latin America. The company is selling 28M shares at the initial range between $17-$19. The company announced Revenues for the last 12 months of $1,103M and Net Income of $(-17)M. The Lead Managers are Lehman, Credit Suisse, and Merrill. Cinemark Holdings (CNK) is headquartered in Plano, TX and their website is www.cinemark.com.

Edenor (EDN). The Company is the largest electricity distribution company in Argentina. The company is selling 15.2M shares at the initial range between $16-$18. The company announced Revenues for the last 12 months of $445M and Net Income of $95M. The Lead Managers are Citigroup and J.P. Morgan. Edenor (EDN) is headquartered in Buenos Aires, Argentina and their website is www.edenor.com.

Ocean Power Technologies (OPTT). The Company is developing a technology to generate electricity from ocean waves. The company is selling 5M shares at the initial range between $20-$22. The company announced Revenues for the last 12 months of $2M and Net Income of $(-6)M. The Lead Managers are UBS, Bank of America, and Bear Stearns. Ocean Power Technologies (OPTT) is headquartered in Pennington, NJ and their website is www.oceanpowertechnologies.com.

OceanFreight (OCNF). The Company is a development stage company formed to acquire a fleet of commodities carriers. The company is selling 10.8M shares at the initial range between $19-$21. The company announced Revenues for the last 12 months of $N/A and Net Income of $N/A. The Lead Managers are Bank of America, and Cantor Fitzgerald. OceanFreight (OCNF) is headquartered in Athens, Greece.


Stock Split Announcement:
Meridian Bioscience Inc. (Ticker: VIVO) announced that its board of directors approved a stock split.

Upgrades and Downgrades by Sector:

Aerospace
ORB Orbital Sciences Kaufman Bros Price Target Raised Hold $19 to $21

Airlines - Passenger
LUV Southwest Air HSBC Securities Downgraded from Overweight to Neutral $17.50 to $16.10
LUV Southwest Air Calyon Securities Cut Price Target Add $18 to $17

Biotech
ZGEN Zymogenetics Citigroup Inititated at Sell

Business Services
AH Armor Holdings Stifel Nicolaus Price Target Raised Buy $75 to $80
RHI Robt Half Stifel Nicolaus Downgraded from Hold to Sell

Chemicals
IOSP Innospec Matrix Research Downgraded from Buy to Hold

Computer Hardware
PALM Palm Lehman Brothers Upgraded from Underweight to Equal-weight
CERN Cerner Friedman Billings Price Target Raised Outperform $60 to $66
CERN Cerner Prudential Downgraded from Overweight to Neutral $55
IMN Imation Needham & Co Cut Price Target Buy $51 to $41

Computer Services
PKTR Packeteer JMP Securities Upgraded from Mkt Underperform to Mkt Perform
RNOW Rightnow Tech Roth Capital Downgraded from Buy to Hold $20 to $18
RNOW Rightnow Tech First Albany Downgraded from Strong Buy to Buy $25 to $20
RNOW Rightnow Tech Jefferies & Co Downgraded from Buy to Hold $21 to $17
TZOO Travelzoo First Albany Downgraded from Strong Buy to Buy
PKTR Packeteer Kaufman Bros Cut Price Target Hold $11 to $10

Computer Software
ATVI Activision Prudential Price Target Raised Overweight $21 to $25
ATVI Activision Credit Suisse Price Target Raised Outperform $22 to $25
INFA Informatica JMP Securities Price Target Raised Mkt Outperform $15 to $17
INFA Informatica Roth Capital Price Target Raised Hold $15 to $16
SEAC SeaChange Needham & Co Inititated at Buy $12

Finance Companies
COF Capital One Friedman Billings Downgraded from Outperform to Mkt Perform $100 to $80
SLM SLM Corp Goldman Sachs Downgraded from Buy to Neutral $49 to $58
COF Capital One Calyon Securities Cut Price Target Add $90 to $84
CPSS Consumer Portfolio Sv Roth Capital Cut Price Target Buy $9.75 to $9.50

Gaming Operations
MGAM Multimedia Games Brean Murray Price Target Raised Buy $14 to $16
MNTG MTR Gaming Stifel Nicolaus Price Target Raised Buy $15 to $19

Gold and Silver Mining
HL Hecla Mining Matrix Research Upgraded from Sell to Hold

Health-Beauty Prod
PYX Playtex Products Oppenheimer Upgraded from Neutral to Buy
SBH Sally Beauty BB&T Capital Mkts Inititated at Buy $11

Healthcare
QLTI QLT Inc UBS Upgraded from Reduce to Neutral
POZN POZEN Citigroup Inititated at Buy $28
ISRG Intuitive Surgical HSBC Securities Price Target Raised Overweight $140 to $146
MNT Mentor Corp Piper Jaffray Downgraded from Market Perform to Underperform
WOOF VCA Antech Morgan Keegan Upgraded from Mkt Perform to Outperform

Hotels and Motels
MAR Marriott Wachovia Upgraded from Mkt Perform to Outperform

Insurance
CB Chubb Friedman Billings Upgraded from Mkt Perform to Outperform $62 to $64
UNH UnitedHealth Prudential Price Target Raised Overweight $60 to $65

Internet Services
GOOG Google Needham & Co Price Target Raised Buy $537 to $575
GOOG Google Banc of America Sec Price Target Raised Buy $601 to $620

Major Pharmaceutical
SGP Schering-Plough Prudential Price Target Raised Neutral $29 to $32
WYE Wyeth Prudential Price Target Raised Neutral $55 to $59
WYE Wyeth Banc of America Sec Price Target Raised Buy $58 to $63
WYE Wyeth HSBC Securities Price Target Raised Overweight $27.50 to $34
SGP Schering-Plough AG Edwards Downgraded from Buy to Hold
SGP Schering-Plough HSBC Securities Downgraded from Overweight to Neutral $27.50 to $34

Manufacturing
ASD American Standard JP Morgan Upgraded from Underweight to Overweight
CBE Cooper Industries Friedman Billings Price Target Raised Outperform $55 to $58
HNI HNI Corp. Robert W. Baird Downgraded from Neutral to Underperform $53 to $41

Motion Pictures
NFLX Netflix Banc of America Sec Upgraded from Sell to Neutral $20

Motor Vehicles
STRT Strattec Security Robert W. Baird Upgraded from Underperform to Neutral $35 to $45

Oil and Gas
CEO CNOOC Ltd Goldman Sachs Upgraded from Neutral to Buy
ECA EnCana AG Edwards Downgraded from Buy to Hold
EOG EOG Resources AG Edwards Downgraded from Buy to Hold
MRO Marathon Oil Bear Stearns Downgraded from Outperform to Underperform
SUN Sunoco Bear Stearns Downgraded from Outperform to Peer Perform
VLO Valero Energy Bear Stearns Downgraded from Outperform to Underperform
WPZ Williams Partners Wachovia Downgraded from Outperform to Mkt Perform

Publishing
NYT New York Times Prudential Price Target Raised Underweight $17 to $23

Real Estate
TARR Tarragon BB&T Capital Mkts Inititated at Buy $13

Regional Banks
PBKS Provident Bank Sun Trust Rbsn Humphrey Upgraded from Neutral to Buy
CLFC Center Finl Friedman Billings Downgraded from Outperform to Mkt Perform $27 to $18
FITB Fifth Third Citigroup Downgraded from Buy to Hold
NARA Nara Bancorp Friedman Billings Downgraded from Outperform to Mkt Perform $24 to $18
BAC Bank of America Friedman Billings Cut Price Target Outperform $61 to $58
HAFC Hanmi Financial Friedman Billings Cut Price Target Mkt Perform $23 to $17
SOV Sovereign Banc Friedman Billings Cut Price Target Outperform $29 to $28
ZION Zions Bancorp Banc of America Sec Cut Price Target Buy $92 to $88
ZION Zions Bancorp Friedman Billings Cut Price Target Outperform $100 to $94

REITs
GKK Gramercy Capital AG Edwards Upgraded from Hold to Buy $36
SPG Simon Properties Goldman Sachs Resumed Coverage Buy $130
AVB AvalonBay Goldman Sachs Downgraded from Buy to Neutral $156 to $145

Restaurants
CPKI California Pizza Morgan Keegan Inititated at Outperform
PNRA Panera Bread Sun Trust Rbsn Hum Inititated at Buy $65
CBRL CBRL Group JP Morgan Downgraded from Overweight to Neutral

Retail Trade
COH Coach Stifel Nicolaus Price Target Raised Buy $50 to $55
RSH RadioShack Credit Suisse Price Target Raised Outperform $25 to $30
SHOE Shoe Pavilion Roth Capital Downgraded from Buy to Hold $10.50 to $6
STMP Stamps.com First Albany Downgraded from Buy to Neutral
SVU Supervalu HSBC Securities Upgraded from Neutral to Overweight $43 to $53
SVU Supervalu Credit Suisse Price Target Raised Outperform $48 to $50
SKX Skechers USA Matrix Research Upgraded from Hold to Buy

Savings & Loan
AF Astoria Fincl Friedman Billings Cut Price Target Mkt Perform $32 to $31

Telecommunications
NOK Nokia Banc of America Sec Price Target Raised Buy $26 to $28
SIRF SiRF Technology Oppenheimer Cut Price Target Buy $34 to $30
PGI Premiere Glbl Svcs Roth Capital Coverage Dropped $12

Transportation
HUBG Hub Group Robert W. Baird Upgraded from Neutral to Outperform $34 to $40
UNP Union Pacific BMO Capital Markets Price Target Raised Market Perform $100 to $120
CHRW C.H. Robinson Wachovia Inititated at Outperform
CSX CSX Corp Matrix Research Downgraded from Strong Buy to Buy
HTLD Heartland Express Stifel Nicolaus Downgraded from Buy to Hold

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Wake Up and Smell the Coffee

CFPC Reports Third Country To Join Growers' Network Coffee Pacifica, Inc. (CFPC) is a leading marketer and distributor of Papua New Guinea grown arabica and robusta green bean coffee in the United States and Europe. In this they represent about 2% of the world green bean coffee production.

The company recently made an agreement to be the exclusive worldwide marketer and distributor of the "PenlyneCastle" brand "JamaicanBlueMountain" coffee. Coffee lovers or those who have been to Jamaica are familiar with this coffee as it is a super premium bean.

Just yesterday the company announced an agreement to begin buying beans from Ethiopia, the 6th largest coffee exporter in the world. Coffee Pacifica, Inc. is a distributor and a marketer in the United States, Canada and Europe of the green bean coffee grown in Papua New Guinea and "Penlyne Castle" brand "Jamaican Blue Mountain" coffee grown by Blue Mountain Coffee Co-Operative Society Ltd ("BMCC") of Jamaica.

Green bean coffee in Papua New Guinea is grown by Coffee Pacifica's shareholder-farmers in the Highland region's rich volcanic soils between the altitudes of 4,000 and 6,000 feet above sea level. Papua New Guinea exports approximately 2% of the annual world green bean production.

Papua New Guinea coffee is well regarded by consumers for its uniqueness, consistency and special flavor characteristics. For more information about our coffee products, visit our website at www.coffeepacifica.com. Coffee Pacifica's wholly owned subsidiary, Uncommon Grounds Inc., established in 1984, is a coffee roasting and wholesale company based in Berkeley, California.

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Post from SeekingAlpha:

NUCON-RF Joining Russia's Nuclear Powerhouse?
Posted on Apr 18th, 2007 with stocks: NNRF

Cameron Fous submits: NUCON-RF (NNRF) is a US Corporation with an international business model. The Company has executive offices in Washington, Berlin and Moscow. NUCON-RF provides product, technical and engineering support for the nuclear power industry and is addressing environmental and power quality solutions for the governments of Germany, Russia, CIS and multilateral institutions, including the G-8 and the European Bank of Reconstruction and Development.

The mission of NUCON-RF is to provide cutting edge environmental safety solutions for the nuclear waste management and power quality challenges facing the Russian, European and Asian markets.

Current solutions include:

Safely shielding, encapsulating and storing a broad range of radioactive and other toxic wastes
Protecting & improving the performance of electrical equipment throughout industrial, commercial and residential facilities by eliminating power surges and high frequency noise. Energy demands are on the rise and our typical resources are depleting, resulting in the world looking for alternative energy sources. Solar power is a hot topic that I am very bullish on, though the demand for uranium and Nuclear power is also increasing heavily, and Russia looks to be taking the initiative to tackle Nuclear power as a prominent energy source.

ROSENERGOATOM (Rosatom), the operating utility of all Russia’s nuclear power plants and co-led by NNRF.PK, announced that it projects nuclear power in Russia will double to 23% by 2020, with the policy goal of reducing the usage of natural gas and increasing nuclear power. In October 2006 Russia announced a $55 billion nuclear energy program for expansion and development of nuclear power plants providing $26 billion until 2015. In other words, Rosatom will be responsible for funding from its revenues, from which NNRF will strongly benefit as they provide goods and services to Rosatom.

The Russian Government decided in late 2006 that it would create one large holding company for Russia’s nuclear industry, creating an international powerhouse. An interesting and very speculative fact of this newly to-be-formed corporation known as Atomprom is that NNRF.PK has strategic alliances with two of the four companies that will be forming the single holding company Atomprom:

Rosenergoatom(Rosatom) [REA] - nuclear power generation (alliance with NNRF.PK)
TVEL - nuclear fuel producer and supplier
Technabexport (Tenex) - state-owned uranium trader
Atomstroyexport - foreign trade in equipment, (alliance with NNRF.PK)
ROSATOM is responsible for insuring nuclear and radiation safety in all phases of nuclear power plant operations in compliance with Russian Federation legislation and to provide scientific and technical support. ROSATOM operates all ten state-owned Russian nuclear power plants.

Increasing demands on technical safety regulations and radiation protection standards at the facilities of Russia’s nuclear energy facilities cause increasing demands on equipment, plants and technologies for the construction, modernization and operation of facilities of ROSATOM,

NUCON-RF has entered into an agreement with ROSATOM to co-lead an international consortium of European and Russian companies to provide equipment, technologies and services to ROSATOM. (source: NUCON-RF.com)

ATOMSTROYEXPORT" (“ASE”) was established in 1998, by the Ministry of the Russian Federation for Atomic Energy, in order to promote the export of Russian-made products for nuclear power projects abroad. ASE was created by a merger of AO "Atomenergoexport" and VPO "Zarubezhatomenergostroy

These Russian government agencies had accumulated more than 25-years of experience with foreign countries in the construction, operation and modernization of nuclear power plants.

ASE possesses both the experience and engineering capabilities to work in the global market. The nuclear power plants built for their customers in the Former Soviet Union, China, India and other countries constitute a future market for NUCON-RF technologies and services. The latest projects of ASE include construction of two power units (2000 MW total) in China, two power units of similar capacity in India, as well as activities in Eastern Europe.

A consortium led by Moscow based Atomstroyexsport has been awarded a contract, a portion of which is for the stabilization of the existing Chernobyl shelter environment that is contaminated with radioactive dust and debris. The contract was signed between SSE Chernobyl and Atomstroyexport on 15 July 2005 for USD 45 million. The contract reference number is SIP-07-1-001-02. In order to expeditiously proceed with the works inside the Shelter that have been delayed due to health problems created by the radioactive dust, ASE entered into an agreement with NUCON-RF in December, 2005 to become project partners at Chernobyl to provide material(s), technologies and services that can reliably suppress and encapsulate radioactive dust. The materials will address the immediate tasks of safety of the works, as well as long term tasks of safe maintenance of the shelter and the future possibility of the removal of the debris and its safe transportation and disposal.

NUCON-RF will provide, on an exclusive basis, a patented technology, NuCapTM, a highly radiation resistant silicon-geopolymer already applied under field conditions in the Shelter to cover the highly radioactive pile of the fuel containing masses. There is an estimated 45 tons of radioactive dust at Chernobyl #4. NuCapTMhas been tested at Chernobyl Reactor #4 since 2000 and these tests have conclusively proven that NuCapTM is durable under the most extreme environmental conditions, it is proven to be resistant to both radioactive environmental and corrosion conditions. It also has been proven to provide excellent encapsulation qualities; these will be necessary for final disposal, in addition to the present task of radioactive dust suppression. (source: NUCON-RF.com)

Nucap is a material licensed through Global Matrechs (GBRM.OB), a company that is also prone for speculation as it had a huge spike in volume and a 200% rally in Monday's session.

It has been rumored that the newly formed Atomprom will eventually be listed on a major exchange, which could raise a you know what load of money for Russia’s nuclear program and highly benefit expansion for the future, as well as contribute to NNRF's ability to maximize sales. We could also speculate, given NNRF’s close association with the newly-to-be-formed Atomprom corporation, a possible buyout of NNRF. NNRF recently filed with the SEC to become a fully reporting company with plans to move to the OCTBB and the ultimate goal to be listed on the AMEX.

NUCON-RF also has alliances with three other companies.

Promising Acquisition

NUCON-RF finalized the 50% acquisition of ATOLL in March of this year, making a great leap in their growth strategy. ATOLL realized 43m in revenues for 2006 and expects $120m in revenues in 2007 on profit of $22m. NUCON-RF will receive quarterly dividends as payments and expect their first payment this month of $247k from the fourth quarter of 2006. This payment only accounts for 13.25% ownership of ATOLL as they just finalized the total 50% acquisition. Payments in 2007 will realize the full 50%. ATOLL manufactures products specializing in nuclear machinery. Their primary purchaser is yes, Rosatom. One of the four companies merging into Russia’s nuclear powerhouse Atomprom.

April 3, 2007:

NUCON-RF receives certification to sell Nu-Cap in the Russian Federation:

“NUCON-RF holds an exclusive agent license for NuCapTM in the Russian Federation and other CIS countries from Global Matrechs (GBMR.OB), Inc., which has the geopolymer NuCapTM manufactured at Dow Corning. NUCON-RF will now place an initial order with Global Matrechs for sufficient base materials to proceed with further engineering and testing of various types and forms of applications. NUCON-RF was previously prevented from proceeding with these engineering studies until it received the certification to sell NuCapTM up in the Russian Federation.”

April 17, 2007:

NUCON-RF announces execution of agreement for the solution to radioactive liquid wastes present in nuclear sites worldwide

NUCON-RF entered into an agreement with Aspect, the official managing company in the development of international and Russian environmental projects for the Federal Ministry of Nuclear Energy of the Russian Federation and Rosatom.

The subject of the agreement between “ASPECT” and NUCON-RF, Inc. is to engage in joint efforts in the implementation of complex technologies and equipment on the basis of a gradient-porous metal-ceramic membrane known as “TRUMEMTM”. TRUMEMTM is a high-output, long-lasting, inexpensive and compact purification unit for all types of liquid wastes, including radioactive wastes. These technologies are the basis for a technological breakthrough in solving the current problems of radioactive liquid wastes. Presently, these problems are fundamentally unsolved at nuclear sites worldwide.

This technology has been successfully developed, produced and operated within closed Russian nuclear facilities. The agreement provides the basis to introduce these technologies for the first time to the global nuclear marketplace. NUCON-RF believes that implementation and roll-out of this technology will provide an effective solution of problems connected with environmental safety at nuclear power sites, and particularly the rehabilitation of water basins which have become contaminated with liquid radioactive wastes.

High Class Management

Former Vice Chairman of Prudential Mutual Fund Management Appointed NUCON-RF Chairman:

2006-12-21 08:00 ET - News Release

MOSCOW, Dec. 21, 2006 (PRIME NEWSWIRE) -- NUCON-RF, Inc. (Pink Sheets:NNRF) today announced that Lawrence C. McQuade, formerly Vice Chairman of Prudential Mutual Fund Management and Executive Vice President with W.R. Grace & Co., will join the Company as Chairman of the Board as of January 15, 2007. Mr. McQuade, who since 1995 has interfaced extensively within the Russian financial industry as a fund manager and consultant, will be primarily responsible for guiding NUCON-RF in its business mission within the Russian Federation, in selected European and Asian markets and the financial markets of the U.S.

CEO: Russia's former Deputy Nuclear Power Minister Valery Zubov, Russian Member of Parliament, Joins NUCON-RF Board of Advisors:

MOSCOW, Dec. 5, 2006 (PRIME NEWSWIRE) -- NUCON-RF, Inc. (Pink Sheets:NNRF) today said that Professor Valery Zubov, Ph.D., Member of the Russian Federal Parliament Committee on Credit Organizations and Financial Markets, has joined the company's Board of Advisors. Mr. Zubov will counsel the company in the marketing of its nuclear waste and power quality equipment technologies in the Russian Federation.

Conclusion:

With Russia taking a huge initiative in the nuclear power industry, and forming a single nuclear powerhouse corporation that NUCON-RF will be associated with from multiple angles, NNRF looks like its making the right steps in becoming a huge contributor to the nuclear development in Russia. NUCON-RF’s acclaimed management team leads me to believe that this pink sheet company is the real deal and their expertise will lead the company to success and potential for massive growth. It’s hard to produce any fundamental evaluation for NUCON-RF currently as they’re not a fully reporting company yet, though recently they raised their estimates of revenues of 50-100m over the next five years to $200m. NUCON-RF is still a relatively small company at $206m cap = 40m o/s shares x 5.16. Given the recent rally as high as 900% in the last six weeks I think we should expect some profit taking and consolidation before a continuation would occur. I currently do not own NNRF, though I will be looking for an entry in the near future.