Weekly CFO Buys Highlight: GNBT, CTTC, COIN, AUMN, SOMH

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Nov 01, 2010
According to GuruFocus Insider Data, the largest CFO buys during the past week were Generex Biotechnology Corp., Competitive Technologies, Converted Organics Inc., American Uranium Mining Inc., and Somerset Hills Bancorp.

Generex Biotechnology Corp. (GNBT, Financial): COO, CFO& Treas. Rose C Perri Bought 54,000 Shares

COO, CFO& Treas. of Generex Biotechnology Corp. (GNBT) Rose C Perri bought 54,000 shares on 10/27/2010 at an average price of $0.35. Generex Biotechnology Corp. is engaged in the research and development of drug delivery technology primarily involving the administration of proprietary formulations of large molecule drugs to the oral cavityusing a hand-held aerosol applicator. Generex Biotechnology Corp. has a market cap of $104.05 million; its shares were traded at around $0.305 with and P/S ratio of 88.93.

GNBT is in the portfolios of Jim Simons of Renaissance Technologies LLC.

CEO & Pres. Anna E Gluskin and COO, CFO& Treas. Rose C Perri bought shares of GNBT stock.

Competitive Technologies (CTTC, Financial): CEO, CFO Johnnie D Johnson Bought 29,528 Shares

CEO, CFO of Generex Biotechnology Corp. (CTTC) Johnnie D Johnson bought 29,528 shares on 10/28/2010 at an average price of $1.25. COMPETITIVE TECHNOLOGIES, INC is engaged primarily in providing technology management services to universities, to federal agencies and laboratories, and to corporations with the goal of maximizing returns on clients' investments in technology.

Competitive Technologies, Inc. announced its financial results for the fiscal fourth quarter and full year ended July 31, 2010. Operating expenses increased to $4.2 million for fiscal 2010, up from $3.8 million in fiscal 2009, with most of the increase due to Calmare medical device rollout expenses, including the Company's appearance at medical conferences in Boston and Chicago and other similar expenses. Operating expenses in the fourth quarter of fiscal 2010 were $1.1 million. The company have increased our revenue for fiscal 2010 to $2.0 million from $0.3 million for the prior fiscal year. Our revenue has doubled each successive fiscal 2010 quarter, based on the first quarter of fiscal 2010. The revenue for the fourth quarter of fiscal 2010 was $1.1 million.

CEO, CFO Johnnie D Johnson bought shares of CTTC stock.

Converted Organics Inc. (coin): cfo David R Allen Bought 10,000 Shares

cfo of Converted Organics Inc. (coin) David R Allen bought 10,000 shares on 10/22/2010 at an average price of $0.52. CONVERTED ORGANICS INC., based in Boston, MA, is dedicated to producing valuable all-natural, organic soil amendment or fertilizer products through food waste recycling. Converted Organics Inc. has a market cap of $20.9 million; its shares were traded at around $0.51 with and P/S ratio of 8.

Converted Organics Inc. reported record sales increases for both year-to-date and for the quarter, of its all-natural, organic fertilizer products. The Company reached record year-to-date sales of $3.6 million from January 1 -- September 30, 2010, a 62 percent increase over same-period 2009 sales. In the third quarter of 2010, the Company had quarterly sales totaling $900,000, a 22 percent increase over same-period 2009 sales.

President and CEO Edward J Gildea, cfo David R Allen, and Director Edward A Stoltenberg sold shares of COIN stock.

American Uranium Mining Inc. (AUMN, Financial): Senior VP and CFO Robert P Vogels Bought 2,000 Shares

Senior VP and CFO of American Uranium Mining Inc. (AUMN) Robert P Vogels bought 2,000 shares on 10/22/2010 at an average price of $18.5. Golden Minerals Company is a mining company with a focus on exploration, development, providing mine services, and growth through strategic business transactions. American Uranium Mining Inc. has a market cap of $239.2 million; its shares were traded at around $26.25.

Golden Minerals Companyannounces results for the second quarter 2010. For the second quarter 2010, Golden Minerals recorded a net loss of $3.6 million, which included among other items, $7.0 million in revenue net of associated costs for management services, offset by $2.9 million of exploration expense, $3.5 million of expense related to El Quevar feasibility study work and $2.1 million of administrative expense.

President, CEO Jeffrey G Clevenger, Senior VP and CFO Robert P Vogels, and Sr VP, Explor./Chief Geologist Robert B. Blakestad bought shares of AUMN stock.

Somerset Hills Bancorp (SOMH, Financial): CFO & Treasurer William S Burns Bought 1,000 Shares

CFO & Treasurer of Somerset Hills Bancorp (SOMH) William S Burns bought 1,000 shares on 10/29/2010 at an average price of $8.22. Somerset Hills Bancorp is the parent of Somerset Hills Bank, a commercial bank operating through its main office in Bernardsville, New Jersey and branch office locations in Mendham and Morristown, New Jersey. Somerset Hills Bancorp has a market cap of $48.4 million; its shares were traded at around $8.5 with a P/E ratio of 21.5 and P/S ratio of 2.8. The dividend yield of Somerset Hills Bancorp stocks is 2.3%. Somerset Hills Bancorp had an annual average earning growth of 7.4% over the past 10 years.

Somerset Hills Bancorpreported a net income applicable to common stockholders of $689,000, or $0.13 per diluted share, for the third quarter ended September 30, 2010, compared to $462,000, or $0.08 per diluted share, for the third quarter ended September 30, 2009. Net interest income for third quarter of 2010 was $2.88 million, compared to $2.66 million for the same quarter of 2009.

SOMH is in the portfolios of Michael Price of MFP Investors LLC.

CFO & Treasurer William S Burns bought shares of SOMH stock.

For the complete list of stocks that bought by their CFOs, go to: Insider Buys.