Hot Stock Alert: Cereplast Secures $20 Million Financing

Cereplast, Inc. (OTCBB:CERP), manufacturer of proprietary bio-based sustainable plastics, today announced it has entered into a common stock purchase agreement to sell up to $20,000,000 of common stock to Cumorah Capital, Inc.Under the agreement, Cereplast has the right to sell shares of its common stock to Cumorah Capital from time to time, depending on certain conditions, for an aggregate amount of up to $20,000,000. The purchase price of the shares will be determined based upon the market price of the Company's shares at the time of each sale, and Cereplast will control the timing and amount of any sales of shares to Cumorah Capital. The stock purchases can occur over a 24-month period of time.

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Employers cut 533K jobs in Nov., most in 34 years

WASHINGTON -- Skittish employers slashed 533,000 jobs in November, the most in 34 years, catapulting the unemployment rate to 6.7 percent, dramatic proof the country is careening deeper into recession.

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