Dow Jones 13167.20 -172.65 1:11 pm PST, December 17, 2007 NASDAQ 2578.36 -57.38 For info, visit access.smallcapnetwork.com S & P 500 1445.90 -22.05 Change your subscription status here Russell 2000 741.63 -12.30 VOLUME 07 : ISSUE 117 Smart Energy Plants More Seeds In this edition...  1) Smart Energy Plants a Seed  2) Spicy Pickle Surpasses the Century Mark  Smart Energy Solutions (OTCBB: SMGY) continues to expand its footprint, this time with the help of an overseas ally. Iveco - a major, global truck manufacturer - will be offering the Battery Brain within its network.  Iveco manufactures and markets small, medium, large and specialty trucks (like fire and utility trucks) under the brand name, 'Daily'. There are 340 dealerships all over the world, with more than 4600 service outlets spread out across more than 100 countries. That's the network Smart Energy Solutions is tapping into.  I think the real opportunity for Smart Energy here is rooted in the typical service and ongoing maintenance within the world of delivery fleets. It's really not like you or me going down to the local car lot and purchasing a passenger vehicle, then using our warranty when we need to. With Daily-brand industrial trucks (or all trucks for that matter), there's a lot of pro-active and preventive maintenance. And, with 340 dealers and 4600 service centers, there's a lot opportunity to upgrade using a Battery Brain - which is probably a no-brainer for most fleet managers.  Though I don't think this particular agreement makes the Battery Brain a standard item for all Daily trucks, I can't help but wonder if that possibility is on the radar. It'll at least be an aftermarket option.  In the bigger picture, this high-profile affiliation for Smart Energy's battery-saving device is a seed - one of many recently planted.  Iveco/Daily has a respectable presence in the North America, and it's a very big (and growing) international name. As the chatter about the product accelerates across borders, I think demand for the Battery Brain could become 'viral'. All we need are just a few more seeds.    Spicy Pickle Hits The Century Mark If you were impressed by Spicy Pickle's (OTCBB: SPKL) news from Friday (which we covered in Saturday's edition), then hold onto your hat - the second act is even better. One of the things I commented on then wasn't anything the company explicitly said. I've just been watching this company for a while, and I'm starting to see something interesting...the franchisees seem to be embracing this innovative restaurant, sometimes site unseen.  This was cut straight from the previous newsletter... "What we're seeing are territories (multiple units) being reserved, sometimes even before the first Spicy Pickle in the area is even in operation...Take for instance the news from Mid-November. The company announced a lease for a store in San Diego had been signed. But, the same franchisee had already committed to 12 units...even before the first one was opened there. The store that was opened in Hattiesburg, Mississippi on October 22nd? That franchisee has committed to three stores. The Spicy Pickle that opened in Fishers, Indiana on October 19th was the first of ten scheduled for the area." The point I was making was simple - I think this above all else signals just how big of a hit this quick-and-casual restaurant is. I'm sure the company at the corporate level thinks the concept is great, and what consumer wouldn't like a great meal at a great price? It's the franchisees taking the real risk though - they're the ones shelling out the cash to open up the stores. What does it tell you when the franchisee in San Diego commits to 12 stores in the area before the first one is even up and running?  With that idea in the forefront, I don't think today's announcement could have come at a more fitting time. Spicy Pickle just announced a brand new franchisee has signed a ten-store commitment in several Michigan cities. They will be the first Spicy Pickles in the state.  That's not the part that struck me though. It was good news, but the part that really hooked me was something else in the press release - this franchisee (1) has industry experience with two restaurants, (2) has the right financial backing, and (3) had choices of dozens of other franchise opportunities.  It's restaurateurs like this one who I'd consider to be an expert. And what path did he (or she) take? Spicy Pickle. Why do you think that is? The only reasonable answer I can come up with is that they see the same opportunity we saw a few weeks ago - just from the franchisee's perspective. It's a win-win though...the better the franchises do, the better shareholders do. In any case, this commitment for ten stores brings the total number of units up past the century mark. In the November 13th press release the company expected to have between 38 and 40 opened by the end of the year, and they had signed agreements for more than 50 more restaurants at that time. Today's news pushes the figure up to a commitment of more than 60, At this point there should be at least 105 units either up and running, or on the way. And, let's not forget the 12 to 15 company-owned restaurants we're likely to see following Friday's fund-raising news.  By the way, if you haven't watched the video yet, I recommend you click on the image to your right. It's a brief presentation on Spicy Pickle, and will probably explain exactly why all these franchisees are jumping on board.  Click here for the Smart Energy press release. The Spicy Pickle news is below.   Spicy Pickle(R) Announces New 10 Store Franchise Agreement In Michigan  New Franchise Sales Take Spicy Pickle Past the 100 Store Mark  DENVER, CO--December 17, 2007 -- Spicy Pickle(r) fast casual restaurants (OTC BB: SPKL) today announced the sale of a multi unit restaurant development to a new franchise developer in Michigan, increasing the total number of franchises the Company has sold to 105.  A new franchisee with extensive restaurant experience has entered into a franchise and development agreement to open the first Spicy Pickle Restaurants in western Michigan. Terry and Jean Henderson and Tiffany Cornelius will be the principals in the new development. These new franchisees have extensive experience as they have developed for Little Caesars Pizza, Big Apple Bagels & Qdoba Mexican Grill in the past. The development includes Kalamazoo, Grand Rapids, Ann Arbor, Lansing and E. Lansing, and calls for a total of ten (10) Spicy Pickle Restaurants over the next several years.  Marc Geman, CEO of Spicy Pickle Franchising, Inc, commented: "We are thrilled to have our first franchisee in the state of Michigan. The state of Michigan can support a significant number of stores, and having our first location could act as a springboard to additional franchisees and help us penetrate other regions within the state, particularly in the eastern part in and around Detroit."  Mr. Geman further commented, "Much like our very successful Boulder, Colorado and Austin, Texas locations, the Ann Arbor and E. Lansing areas offer a similar demographic with a high concentration of University, Medical, and Research facilities. There is also a similar concentration in Kalamazoo at Western Michigan University. This also marks the 16th state in which there will be a Spicy Pickle Restaurant. The addition of this franchisee with their highly capable staff already in place will help keep up the momentum we have established for restaurant openings. Our real estate department has already begun a demographic study in cooperation with the franchisee to find the first location."  About Spicy Pickle:  Founded in 1999, Spicy Pickle Franchising, Inc. (OTCBB: SPKL) serves high quality meats and fine artisan breads, baked fresh daily, along with a wide choice of eight different cheeses, twenty-two different toppings, and fourteen proprietary spreads to create healthy and delicious panini and sub sandwiches with flavors from around the world. As a leading "fast-casual" concept, Spicy Pickle offers menu items that are far beyond traditional fast food -- but without the price point of casual dining. The hallmark of a Spicy Pickle restaurant is quality, service and an enjoyable atmosphere. The company is headquartered in Denver, Colorado, with franchised locations now open across 12 states and many more in development nationwide. For more about Spicy Pickle, including franchise information and inquiries, visit http://www.spicypickle.com.  Forward-Looking Statements:  Certain statements in this press release, including statements regarding the number of restaurants we intend to open, are forward-looking statements. We use words such as "anticipate," "believe," "could," "should," "estimate," "expect," "intend," "may," "predict," "project," "target," and similar terms and phrases, including references to assumptions, to identify forward-looking statements. The forward-looking statements in this press release are based on information available to us as of the date any such statements are made and we assume no obligation to update these forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those described in the statements. These risks and uncertainties include, but are not limited to, the following: factors that could affect our ability to achieve and manage our planned expansion, such as the availability of a sufficient number of suitable new restaurant sites and the availability of qualified franchisees and employees; risks relating to our expansion into new markets; the risk of food-borne illnesses and other health concerns about our food products; changes in the availability and costs of food; changes in consumer preferences, general economic conditions or consumer discretionary spending; the impact of federal, state or local government regulations relating to our franchisees and employees, and the sale of food or alcoholic beverages; the impact of litigation; our ability to protect our name and logo and other proprietary information; the potential effects of inclement weather; the effect of competition in the restaurant industry; and other risk factors described from time to time in our SEC reports.  Press Release Source: Spicy Pickle Franchising, Inc.    We Value Your Feedback   Got comments, questions or suggestions? 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All companies are chosen on the basis of certain financial analysis and other pertinent criteria with a view toward maximizing the upside potential for investors while minimizing the downside risk, whenever possible. Moreover, as detailed below, TGR accepts compensation from third party consultants and/or companies, which it features in the publication and circulation of SCN. To the degrees enumerated herein, SCN should not be regarded as an independent publication.  Click Here or go to http://access.smallcapnetwork.com/compensation_disclosure.html to view our compensation on every company we have ever covered, or visit the following web address: http://access.smallcapnetwork.com/profile_disclosure.html for our full profiles and http://access.smallcapnetwork.com/short_term_alerts.html for Trading Alerts.  Larry Isen, the editor and publisher of the OTC Journal, through various entities he controls, has purchased 1,200,441 shares of Spicy Pickle at an average cost of $.2125 per share. These purchases were made in Spicy Pickle private offerings. The aforementioned purchases were made between August of 2005 and August of 2006. On 12/15/07, on entity controlled by Larry Isen participated in an additional financing wherein 12 shares of convertible preferred, converting at $.85 into 120,000 shares and 90,000 warrants with an exercise price of $1.60 were purchased. In addition, Larry Isen has received 785,000 shares of Spicy Pickle common stock for consulting services. In addition, MarketByte LLC, an entity controlled by Larry Isen, has received a fee of $30,000 cash, and 300,000 newly issued restricted shares for coverage of Spicy Pickle. TGR Group LLC, the publisher of the Small Cap Network, has received $30,000 and 300,000 newly issued restricted shares for coverage of Spicy Pickle. Mr. Isen is an affiliate of TGR Group. In addition, two other individuals affiliated with TGR Group have purchased a total of 300,000 shares at $.25 per share and received an additional 70,000 for consulting services. Current positions of the aforementioned can be found at www.otcjournal.com and access.smallcapnetwork.com in the Spicy Pickle information section.  TGR Group, LLC has been paid a fee of $30,000 cash and 350,000 shares of newly issued restricted stock by Smart Energy Solutions for coverage of the Company. From time to time TGR sells shares received as compensation for coverage of client companies. Shares received are sold in the open market. Since the shares are received as compensation for services as previously disclosed, and not for investment purposes, TGR does not view the sale of the shares as contradictory to any opinions delivered in the content. 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