WELLFLEET PARTNERS, INC. 13th Anniversary
Posted on April 4, 2011
April 1st, 2011 New York City- “We are proud on this, our 13th birthday, to announce the closing of not one, but two financings, a first for us. We closed a second tranche for First China Pharmaceutical Group, Inc (NASDAQ symbol “FCPG”) and a third for Plures Technologies, Inc. To date we have invested, through our brokerage affiliate, Sandgrain Securities, Inc. approximately $4M for FCPG and $2M for Plures. I’d like to acknowledge the efforts of Tobin Smith, analyst extraordinaire from NBT on FCPG and our friends at Cedarview Capital Management LP, Burt Weinstein and Joshua Gottlieb for their ongoing assistance with Plures and finally my trusted, invaluable assistants Tammy Eloshvili & Marissa Basile for ALL THEY DO”, Stated Mark I. Lev, Chairman & CEO of Wellfleet Partners, Inc.
First China Pharmaceutical Group, Inc., First China Pharmaceutical Group, Inc. engages in the drug logistics and distribution business through drug stores, medical clinics, and hospitals in the People’s Republic of China. It also involves in the wholesale distribution of medicine products, chemical agents, antibiotics, biochemistry drugs, and biological preparations. The company distributes approximately 5,000 drugs, including 1,000 over-the-counter drugs, 1,000 prescription drugs, 2,000 prepared Chinese medicines, and 1,000 supplements. First China Pharmaceutical Group distributes its products through the Internet; sub-distributors; and hospitals, clinics, pharmacies, and other medical institutions, as well as through its drug stores. The company was formerly known as E-Dispatch Inc. and changed its name to First China Pharmaceutical Group, Inc. in May 2010. First China Pharmaceutical Group, Inc. was founded in 2002 and is headquartered in Kunming City, the People’s Republic of China.
Plures Technologies, Inc., the Company is an acquisition vehicle for Advanced Microsensors, Inc. (“AMS”), a Massachusetts based technology company that has to date, acted as a foundry for other products to date with solid intellectual property (IP) in the form of patents and proprietary processes. MEMS (Micro-Electro-Mechanical Systems (micro machines) technology, in the last decade, has matured into an $8 Billion market space. MEMS devices for example, operate the air bags in your auto, the microphone in your cell phone or squirt the micro drops in your ink jet printer (to name a few). The MEMS industry is predicted to grow at least 25% per annum for the next five years. Spintronics (“Spin”- “Electronics”) is an emerging technology that uses a fundamental quantum property of the electron, its spin. Spintronics can set the spin up or down, and then read it at a later time turning the electron into a binary device. By being able to utilize the spin of electrons, it has been predicted that Spintronics will replace current semiconductor technology which is currently the basis for virtually all of the electronics revolution. Spintronics will lead to true Quantum Computers and will be able to overcome the limitations we currently face with conventional technologies.
About Wellfleet Partners, Inc.
Wellfleet Partners, Inc. (Wellfleet), a thirteen year old boutique financial services and consulting firm, was founded by Mark I. Lev in early 1998. The Company’s emphasis is to engage in a wide variety of corporate finance, venture capital, management consulting and corporate Investment Banking related activities to a broad range of public and private emerging small to medium sized growth companies. In addition, through subsidiaries and/or affiliates, it offers financial and brokerage services and money management as well and has strategic partnerships and offices in London, England, Ra’anana, and Tel Aviv, Israel, Dublin, Ireland, Miami and Fort Lauderdale, Florida; Southern California (Los Angeles & San Diego), Northern California (Palo Alto) and in conjunction with MRM Finance LLC, jointly opened an office in Beijing, China in 2008. Wellfleet renders all of its fund raising and investment banking related activities through Sandgrain Securities, Inc., a registered FINRA broker-dealer primarily headquartered in New York. For more information, please go to our recently updated website www.wellfleetpartners.com; a corporate brochure, quarterly newsletter and/or press releases available upon request.
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* First China Pharmaceutical Group, Inc.-$4,500,000 Final Closing Comprised of Units of Common Stock and Series A & B Warrants
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* WELLFLEET PARTNERS, INC. 13th Anniversary
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