Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
4999-4999-4999-4999-4999????????????
News!!
Triangle Petroleum Announces Acreage Acquisition in the North Dakota Bakken Shale Play and New Strategic Focus Area for U.S. Operations
marketwire
Press Release Source: Triangle Petroleum Corporation On Monday February 8, 2010, 4:30 am
CALGARY, ALBERTA--(Marketwire - 02/08/10) - Triangle Petroleum Corporation (the "Company" or "Triangle") (TSX-V:TPE - News)(OTC.BB:TPLM - News) today announced a new strategic initiative in the Bakken Shale play of North Dakota and the acquisition of 4,000 net acres in Williams and McKenzie counties. The company further announced a new partnership with Slawson Exploration, a leading operator in the fairway, aimed at the acquisition and development of acreage in known areas of production from the Middle Bakken and Three Forks formations of the Williston Basin.
Dr. Peter Hill, Chief Executive Officer of Triangle Petroleum commented "The Bakken Shale will be our new core area of operations in the United States. Our efforts here are the result of years of work undertaken prior to my joining Triangle this past November. The focus has been on understanding the geology and science of the play, and the capacity of applied technology to unlock the significant oil and gas reserve potential." Dr. Hill continued "Completion technology and the ability to drill long, carefully directed, horizontal wells have changed the oil business forever. It is my personal belief that the Williston Basin Bakken play will ultimately be proven one of the largest oil accumulations in North America. Further, it appears likely that this play will largely be developed by the smaller independent companies and service sectors who have continued to be the innovators of the play. Our acreage lies within the prime Bakken fairway and we have several large and contiguous blocks in the Rough Rider area and identifiable well locations for our operator to commence drilling later this year."
Dr. Hill added "Our business strategy is to directly acquire and develop acreage prospective for capturing the Bakken resource base at attractive margins. Today marks the first step in that strategy and we will continue to grow and develop the business platform needed to deliver both early production and the turn round of Triangle."
Slawson Exploration, a privately held company based in Wichita, has been active in the Williston Basin since the 1970s. "Slawson is an ideal partner and we are delighted to be associated with their entire team. They are experienced, have strong local content and knowledge, and are one of the lowest cost, most efficient operators in the business" said Dr. Hill. "We are very excited and look forward to working with them and expanding our joint venture in the coming months."
Triangle has identified several areas of interest in the Williston Basin, and is in an ongoing process of evaluating further entry opportunities to the Bakken Shale play.
About Triangle Petroleum
Founded in 2006, Triangle Petroleum (TSX-V:TPE - News)(OTC.BB:TPLM - News) is an independent oil and gas exploration company with approximately 475,000 gross acres (413,000 net acres) in the Windsor Block of Nova Scotia and 4,000 net acres in Williams and McKenzie counties of North Dakota.
For more information please visit www.trianglepetroleum.com.
Safe Harbor Statement. This news release includes statements about expected future events and/or results that are forward-looking in nature and subject to risks and uncertainties concerning the Company's future performance. Forward-looking statements in this release include, but are not limited to the Company's planned drilling and evaluation program, operating costs and expectations of undiscovered resources. It is important to note that actual outcomes and the Company's actual results could differ materially from those predicted in such forward-looking statements. Factors that could cause actual results to differ materially include the possibility that additional investments will not be made or that appropriate opportunities for development will not be available or will not be properly developed. For additional risk factors about our Company, readers should refer to risk disclosure contained in our reports filed with the U.S. Securities and Exchange Commission and on SEDAR.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
close green!
Genetic Immunity, InPlay: Company Completes Patient Enrollment in Italian Phase II Trial of DermaVir Patch HIV Immunotherapeutic Nanomedicine
* Press Release
* Source: Power of the Dream Ventures, Inc.
* On Wednesday July 1, 2009, 10:05 am EDT
*
Buzz up! 0
* Print
Power of the Dream Ventures, Inc. (OTC.BB:PWRV - News), Hungary's premier technology acquisition and development company, is pleased to present this Genetic Immunity release, based on a previously announced agreement whereby Power of the Dream Ventures will issue communications for Genetic Immunity on a going forward basis.
Genetic Immunity is pleased to announce completion of patient enrollment in the Company's Phase II randomized, placebo-controlled trial designed to investigate whether therapeutic immunization during highly active antiretroviral therapy (HAART) induces elevations of HIV-specific T cell precursors with high proliferative capacity (PHPC) in HIV-1-infected individuals, and whether the quantity of PHPC correlates with the viral load set point following analytical treatment interruption (ATI). This second Phase II study is conducted at the IRCCS Policlinico S. Matteo in Pavia, Italy with a total of sixteen patients.
"We are extremely pleased to have enrolled all patients in this, our second Phase II trial aimed to prove the benefit of our immune amplification therapy. We now have two trials underway, in addition to a Phase I/II trial that is also nearing completion. I am confident this Italian trial, along with the one conducted in Hamburg, Germany will show substantial benefit for HIV infected patients. We look forward to receiving trial data once it is completed early in 2010," commented Julianna Lisziewicz, CEO of Genetic Immunity.
Subjects in the study are randomized to receive either DermaVir Patch (8 subjects per cohort) or DermaVir Patch Placebo (8 subjects per cohort) every four weeks for three applications while receiving maximally suppressive HAART. HAART will be discontinued at Week 9 for an ATI period of 20 weeks.
Patients are on study for a total of 29 weeks (nine weeks of HAART followed by 20 weeks of ATI). Each subject's DermaVir/Placebo application schedule is administered over an 8-week period (Day 0, 28, and 56). HAART is discontinued on Day 63 and is resumed on Day 203. Subsequently, individuals who do not meet HAART restarting criteria can elect not to restart therapy. After week 29 a safety and immunogenicity follow up evaluation is done every 3 months for an additional year for all the participants.
For more information please visit the Company's official website at http://www.geneticimmunity.com
About Genetic Immunity
Genetic Immunity is a US/Hungarian biopharmaceutical company establishing leadership in Nanomedicines for immune amplification. Nanomedicine, an offshoot of nanotechnology, refers to highly specific medical intervention at the molecular scale for treating disease or repairing damaged tissues. By leveraging its proprietary immune amplification platform technology, the company aims to address new markets for infectious diseases, cancer and allergies through the discovery, development and commercialization of topically administered nanomedicines. These indications represent a significant unmet medical need and the potential for alternative treatment approaches.
About Power of the Dream Ventures
Power of the Dream Ventures, Inc. is a leading technology holding company. We identify and harness the unique technological prowess of Hungary's high-tech industry, turning promising ideas and ready to market products/technologies into global industry leaders. We focus on developing, acquiring, licensing, or co-developing technologies that originate exclusively in Hungary that are in prototype stage based on existing patents; in prototype stage prior to patenting; existing products that require expansion capital to commercialize; emerging science and high-technology research projects that require help in patenting, developing the product and marketing, University spin-off technologies, and ideas from the very early stage that represent "disruptive technologies." We primarily focus on providing enabling solutions in the fields of environmental technologies, power generation and storage, software products and services, biotechnology, medical devices and what we call 'disruptive technologies.' For more information please visit our website at http://www.powerofthedream.com
0.041 vs 0.09 !!! lol
Genetic Immunity, InPlay: Company to Present at Phacilitate's 8th Annual European Vaccine Forum
* Press Release
* Source: Power of the Dream Ventures, Inc.
* On Thursday June 18, 2009, 11:49 am EDT
*
Buzz up!
* Print
Power of the Dream Ventures, Inc. (OTC.BB: PWRV), Hungary's premier technology acquisition and development company, is pleased to present this Genetic Immunity release, based on a previously announced agreement whereby Power of the Dream Ventures will issue communications for Genetic Immunity on an ongoing basis.
Genetic Immunity is pleased to announce that Dr. Julianna Lisziewicz, Chief Executive Officer of the Company, will be presenting "DermaVir Nanomedicine: The Next Generation DNA Vaccine" at Phacilitate's 8th annual European Vaccine Forum, to be held from June 22-24, 2009 Barcelona, Spain.
"I look forward to discussing the latest developments on our nanomedicine and dendritic cell targeting delivery system with conference attendees and to learn more about the progress of other companies active in the fields of immune therapy and vaccines. This event, just like the Bio International Convention in Atlanta, will give us many opportunities to look for partnerships and, or to reach for greater exposure of our immunotherapeutics technology," commented Julianna Lisziewicz, CEO of the Company.
Phacilitate is a specialist in the organization of exclusive events for leaders from the life sciences community. Their philosophy is simple -- to deliver the ultimate in strategic knowledge exchange and networking through flawless, personalized service. Phacilitate's 8th annual European Vaccine Forum will run in parallel this year to a new conference -- the Active Immunotherapeutics Forum. Dr. Lisziewicz will be attending both conferences.
About Genetic Immunity
Genetic Immunity is a US/Hungarian biopharmaceutical company establishing leadership in Nanomedicines for immune amplification. Nanomedicine, an offshoot of nanotechnology, refers to highly specific medical intervention at the molecular scale for treating disease or repairing damaged tissues. By leveraging its proprietary immune amplification platform technology, the Company aims to address new markets for infectious diseases, cancer and allergies through the discovery, development and commercialization of topically administered nanomedicines. These indications represent a significant unmet medical need and the potential for alternative treatment approaches. http://www.geneticimmunity.com
About Power of the Dream Ventures
Power of the Dream Ventures, Inc. is a leading technology holding company. We identify and harness the unique technological prowess of Hungary's high-tech industry, turning promising ideas and ready to market products/technologies into global industry leaders. We focus on developing, acquiring, licensing, or co-developing technologies that originate exclusively in Hungary that are in prototype stage based on existing patents; in prototype stage prior to patenting; existing products that require expansion capital to commercialize; emerging science and high-technology research projects that require help in patenting, developing the product and marketing, University spin-off technologies, and ideas from the very early stage that represent "disruptive technologies." We primarily focus on providing enabling solutions in the fields of environmental technologies, power generation and storage, software products and services, biotechnology, medical devices and what we call 'disruptive technologies.' For more information please visit our website at http://www.powerofthedream.com
Contact:
Contact:
�At Genetic Immunity:
Dr. Zsolt Lisziewicz
Chief Operating Officer
Phone: +36-1-272-0364
Fax: +36-1-272-0364
�At Power of the Dream Ventures:
Viktor Rozsnyay
President and CEO
Phone: +36-1-456-6061
Fax: +36-1-456-6062
Genetic Immunity, InPlay: Company Completes Patient Enrollment in Phase II Trial of DermaVir Patch HIV Immunotherapeutic Nanomedicine Lead Product Candidate
* On Thursday June 11, 2009, 9:44 am EDT
*
Buzz up!
* Print
BUDAPEST, HUNGARY--(MARKET WIRE)--Jun 11, 2009 -- Power of the Dream Ventures, Inc. (OTC BB:PWRV.OB - News), Hungary's premier technology acquisition and development company, is pleased to present this Genetic Immunity release, based on a previously announced agreement whereby Power of the Dream Ventures will issue communications for Genetic Immunity on a going forward basis.
Genetic Immunity is pleased to announce completion of patient enrollment in the Company's Phase II randomized, placebo-controlled, multi-center study to evaluate the safety, tolerability, immunogenicity, and antiretroviral activity of DermaVir Patch in treatment-naïve HIV-1-infected patients. The study is conducted in Hamburg, Germany with a total of thirty-six patients.
"We are very happy with completion of patient enrollment in this seminal trial because it allows us to conclude the immunization schedule in this year. This trial has a unique design to investigate DermaVir Patch as mono-immunotherapy in HIV-infected individuals who are not treated with antiretroviral drugs. We are very excited to learn how our immune therapeutic nanomedicine affects the immune system and disease of this patient population. With this trial we plan to demonstrate the safety and efficacy of DermaVir Patch as monotherapy administered every 6 weeks for the treatment of HIV," commented Julianna Lisziewicz, CEO of Genetic Immunity.
This novel plasmid DNA-based nanomedicine vaccine candidate, DermaVir Patch, has been under development in the last ten years. Phase I trial showed preliminary safety and tolerability and induction of memory T-cell immunity in all HIV-1-infected individuals. DermaVir is based on a single plasmid DNA capable to express most HIV antigens and to form a virus-like particle (VLP+). Plasmid DNA is formulated with a polymer to mimic a pathogen. DermaVir enters into the body via the Langerhans cells of the skin and induces memory immune responses in the lymph nodes.
The primary outcome of this phase II study measures safety and tolerability of DermaVir Patch, while secondary outcome includes HIV-1 RNA measurements to assess the antiretroviral activity of the DermaVir Patch, changes in CD4+, CD8+ T-cell counts and HIV-specific immunogenicity during DermaVir Patch treatment.
The study randomized patients into one of 6 arms: Arm 1 patients will receive low dose DermaVir patch (0.2 mg DNA, n=9); Arm 2 patients will receive low dose placebo patch (n=3); Arm 3 patients will receive medium dose DermaVir patch (0.4 mg DNA, n=9); Arm 4 patients will receive medium dose placebo patch (n=3); Arm 5 patients will receive high dose DermaVir patch (0.8 mg DNA, n=9); Arm 6 patients will receive high dose placebo patch (n=3).
Immunization will be done on days 0, 42, 84, and 126. The total number of patches that a patient will receive throughout the study will be 8, 16, or 32 in the low, medium, and high dose arms, respectively. The patch sites for immunization are preferably the left or right upper back and left or right upper ventral thighs. The same skin sites might be used for all patch immunizations that last for 3 hours.
Patients will be on-study for 282 weeks. The immunizations will be administered over an 18-week period with an identical follow up schedule continuing until week 24; patients will be followed for an additional 24 weeks for additional safety and immunogenicity evaluations. An additional 234 weeks safety follow-up will be performed including chemistry and hematology assessments and physical examinations.
For more information please visit the Company's official website at http://www.geneticimmunity.com
About Genetic Immunity
Genetic Immunity is a US/Hungarian biopharmaceutical company establishing leadership in Nanomedicines for immune amplification. Nanomedicine, an offshoot of nanotechnology, refers to highly specific medical intervention at the molecular scale for treating disease or repairing damaged tissues. By leveraging its proprietary immune amplification platform technology, the company aims to address new markets for infectious diseases, cancer and allergies through the discovery, development and commercialization of topically administered nanomedicines. These indications represent a significant unmet medical need and the potential for alternative treatment approaches.
About Power of the Dream Ventures
Power of the Dream Ventures, Inc. is a leading technology holding company. We identify and harness the unique technological prowess of Hungary's high-tech industry, turning promising ideas and ready to market products/technologies into global industry leaders. We focus on developing, acquiring, licensing, or co-developing technologies that originate exclusively in Hungary that are in prototype stage based on existing patents; in prototype stage prior to patenting; existing products that require expansion capital to commercialize; emerging science and high-technology research projects that require help in patenting, developing the product and marketing, University spin-off technologies, and ideas from the very early stage that represent "disruptive technologies." We primarily focus on providing enabling solutions in the fields of environmental technologies, power generation and storage, software products and services, biotechnology, medical devices and what we call 'disruptive technologies.' For more information please visit our website at http://www.powerofthedream.com
Form 10-Q for POWER OF THE DREAM VENTURES INC
12-May-2009
Quarterly Report
ITEM 2 - PLAN OF OPERATION
Overview
We were incorporated in Delaware on August 17, 2006, under the name Tia V, Inc. Since inception, and prior to our acquisition of Vidatech on April 10, 2007, we were engaged solely in organizational efforts and obtaining initial financing. Our sole business purpose was to identify, evaluate and complete a business combination with an operating company.
On April 10, 2007, we completed our acquisition of Vidatech, Kft (also know as Vidatech Technological Research and Development LLC) a limited liability company formed under the laws of the Republic of Hungary. Vidatech is a company formed for the purpose of investing in, acquiring, developing, licensing, and commercializing technologies developed in Hungary. In furtherance of its business, Vidatech provides research and development services to the companies from which it acquires technologies or participation interests in such technologies. Prior to December 31, 2007, Vidatech was primarily focused on organizational and capital raising activities. Through March 31, 2009, we have had only limited operations and acquired rights to eleven technologies, TothTelescope, RiverPower, revolutionary desalination technology based on cavitation, H2OGas for the mixing of water and gasoline for use in internal combustion engines, and the Kalmar inventions (FireSAFE, technology for utilizing communal waste as a concrete additive, technology for repairing potholes with the use of recycled plastics, PVC shielded electric cable recycling technology, a biodegreadable deicing liquid, and technology for the neutralization of red-mud, a toxic byproduct of the aluminum/bauxite industry) and an equity interest in 'in4 Kft', a company formed to develop next generation semantic search and content organizer technology. All of these technologies are still in the development stage (see Note 4). As of March 31, 2009, the Company has only realized limited revenues from the TothTelescope project and has not realized any revenues from the other inventions.
We now operate in Hungary through our wholly owned subsidiary, Vidatech Kft., a Hungarian company. Our office in Hungary is located at 1095 Budapest, Soroksari ut 94-96, Hungary.
Description of our Business and Properties
Through Vidatech, we aim to provide pro-active support for idea, research, start-up and expansion-stage technology companies having rights to technologies or intellectual properties which we believe to be potentially commercially viable, by offering a range of services designed to encourage and protect the continuing development and eventual commercialization of those technologies.
Our focus will be on technologies and technology companies based in the Republic of Hungary. We believe that the availability of technologies for purchase or license, coupled with the lack of sufficient investment capital for such technologies in Hungary, present us with an opportunity to acquire technologies on terms and conditions that we deem advantageous.
Our strategy is to acquire majority interests in technologies through, among other things, direct investment in start-up and expansion stage technologies and technology companies; cooperative research and development agreements with such companies; direct licensing agreements; joint venture arrangements; or, direct acquisition of technologies and intellectual properties.
Index
ITEM 2 - PLAN OF OPERATION (Continued)
We also intend to provide services to assist in:
- The design of, research of, building of and testing of prototypes;
- facilitation of preparation of filing and prosecution of patent applications with Hungarian patent attorneys;
- business structuring;
- financing of research and development activities;
- the exposure of the technology to international markets; and
- the commercialization and/or sale of the subject technology.
We expect to obtain a majority participation interest in any given transaction involving idea, research, seed, start-up, early stage, technologies.
Capital Resources and Liquidity
In June 2007, pursuant to a private placement under Regulation S of the Securities Act of 1933, as amended, the Company sold 2,250,000 shares of its common stock at $0.34 for an aggregate proceeds of $765,000.
Subsequently, on October 12, 2007, we completed a second private placement under Regulation S of the Securities Act of 1933, as amended, pursuant to which the Company sold 104,000 shares of its common stock at $2.50 per share for aggregate proceeds of $260,000.
In January 2008, pursuant to a private placement under Regulation S of the Securities Act of 1933, as amended, the Company sold 32,500 shares of its common stock at $3.25 per share for aggregate proceeds of $105,625.
In October 2008, pursuant to a private placement under Regulation S of the Securities Act of 1933, as amended, the Company sold 2,500,000 shares of its common stock at $0.4 per share for aggregate proceeds of $1,000,000.
On March 31, 2009, the Company had a deficit in working capital of $69,318.
FireSAFE technology
On August 20, 2008, the Company licensed its FireSAFE technology to a group of Hungarian investors for a license acquisition fee of HUF 20,000,000 (approximately $120,000). A new company called FireLESS Ltd. was established and given commercialization license. The Company received 30% equity in FireLESS Ltd.
The new company will focus on acquiring the appropriate licenses and certificates to internationally market FireSAFE and will work with local and international fire agencies to test and establish usability baselines for FireSAFE. It is anticipated that the FireLESS Ltd. will start the international roll-out of FireSAFE in the first half of 2009.
To further these goals on October 20, 2008 The Company filed a PCT patent application to protect FireSAFE internationally.
Index
ITEM 2 - PLAN OF OPERATION (Continued)
FireSAFE is an environmentally friendly, biodegradable liquid designed to prevent, and if necessary extinguish natural fires that are exceedingly hard, or impossible to contain with water or other fire-fighting solutions. This category includes forest, bush and other natural fires. FireSAFE reaches the heart of the fire, coating all surfaces with a crystalline layer that hardens when exposed to heat. The layer thus formed is capable of withstanding heat as high as 1,100 degrees centigrade, enough to stop the most fearsome forest fires. Following use (containment of the fire) the biodegradable active ingredient will decompose in approximately four months. FireSAFE can also be used as a preventive solution, both in the wild and in treating lumber. During fire season those areas that are the most likely to be burnt can be sprayed with the solution as a preventive measure. Lumber used in construction can also be treated with FireSAFE to increase its fire resistance factor. FireSAFE can be manufactured anywhere on the planet with ease as all its ingredients are widely and cheaply available.
Financing from Yorkville SEDA
On October 8, 2008, Power of the Dream Ventures, Inc. (the "Company") entered into a Standby Equity Distribution Agreement (the "Standby Equity Distribution Agreement") with YA Global Investments, L.P. (the "Investor"). Pursuant to the terms of the Standby Equity Distribution Agreement, the Company (a) agreed to issue and sell to the Investor up to $5,000,000 of shares of the Company's common stock, par value $0.0001 per share (the "Common Stock") in tranches of equity, based upon a specified discount to the market price of the Common Stock, calculated over the five trading days following notice by the Company of an election to sell shares; and (b) issued to the Investor a warrant (the "Warrant") to purchase 4,027,386 shares of Common Stock at the exercise price per share of $0.29.
In connection with the Standby Equity Distribution Agreement, the Company entered into a Registration Rights Agreement with the Investor (the "Registration Rights Agreement") pursuant to which the Company agreed to register for resale the shares of Common Stock that may be purchased by the Investor pursuant to the Standby Equity Distribution Agreement, the shares of Common Stock issuable upon exercise of the Warrant and 2,000,000 shares of Common Stock (the "Commitment Shares") issued to the Investor as a commitment fee pursuant to the terms of the Standby Equity Distribution Agreement.
Financing from this transaction will be used by the Company for the continued development of its current technologies, commercialization of same, the acquisition of new technologies and for general corporate expenses.
The Company filed the details of this transaction on Form 8-K with the Commission on October 14, 2008.
Other than the recently completed private placement all of our funding to date has been generated from loans from our officers and directors. During the next twelve months we anticipate that we will have sufficient funds to proceed only with basic administrative operations and incremental operations with respect to our TothTelescope, RiverPower, revolutionary desalination technology based on cavitation, H2OGas for the mixing of water and gasoline for use in internal combustion engines, and the Kalmar inventions (FireSAFE, technology for utilizing communal waste as a concrete additive, technology for repairing
Index
ITEM 2 - PLAN OF OPERATION (Continued)
potholes with the use of recycled plastics, PVC shielded electric cable recycling technology, a biodegreadable deicing liquid, and technology for the neutralization of red-mud, a toxic byproduct of the aluminum/bauxite industry) and an equity interest in 'in4 Kft', a company formed to develop next generation semantic search and content organizer technology. All of these technologies are still in the development stage (see Note 4). As of March 31, 2009, the Company has only realized limited revenues from the TothTelescope project and has not realized any revenues from the other inventions. In addition we only have limited funds available to continue acquiring and developing the diverse number of technologies available to us, to continue research and development efforts with respect to our current technologies and to fully implement our business plan. If we do not obtain the funds necessary for us to continue our business activities we may need to curtail or cease our operations until such time as we have sufficient funds.
We currently have no other arrangements for such financings and can give you no assurance that such financings will be available to us when required or on terms that we deem acceptable or at all. We believe that should our securities commence trading on the over-the-counter marketplace, our ability to raise funds may be enhanced but this in itself will not guarantee that we will be able to raise the capital required to implement some or all of our business strategy.
Going Concern and Management's Plan
The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate the continuation of the Company as a going concern and assume realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred losses from operations since inception. Management anticipates incurring additional losses in 2009. Further, the Company may incur additional losses thereafter, depending on its ability to generate revenues from the licensing or sale of its technologies and products, or to enter into any or a sufficient number of joint ventures. The Company has minimal revenue to date. There is no assurance that the Company can successfully commercialize any of its technologies and products and realize any revenues therefrom. The Company's technologies and products have never been utilized on a large-scale commercial basis and there is no assurance that any of its technologies or products will receive market acceptance. There is no assurance that the Company can continue to identify and acquire new technologies.
Since inception through March 31, 2009, the Company had an accumulated deficit of $6,817,425 and net cash used in operations of $1,626,698. However, management of the Company believes that the funding from October, 2008 private placement of the Company's common shares (See Note 8) together with the anticipated raising of additional capital will allow them to continue operations and execute its business plan.
Management believes the Company can raise adequate capital to keep the Company functioning during 2009. However, no assurance can be given that the Company can obtain additional working capital, or if obtained, that such funding will not cause substantial dilution to shareholders of the Company. If the Company is unable to raise additional funds, it may be forced to change or delay its contemplated marketing and business plan. Being a development stage company, the Company is subject to all the risks inherent in the establishment of a new enterprise and the marketing and manufacturing of a new product, many of which risks are
Index
ITEM 2 - PLAN OF OPERATION (Continued)
beyond the control of the Company. All of the factors discussed above raise substantial doubt about the Company's ability to continue as a going concern.
These unaudited condensed consolidated financial statements do not include any adjustments relating to the recoverability of recorded asset amounts that might be necessary as a result of the above uncertainty.
Critical Accounting Estimates and Policies
This discussion and analysis of our financial condition and results of operations are based upon our condensed consolidated financial statements that have been prepared in accordance with generally accepted accounting principles in the United States of America ("US GAAP"). This preparation requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. US GAAP provides the framework from which to make these estimates, assumption and disclosures. We chose accounting policies within US GAAP that management believes are appropriate to accurately and fairly report our operating results and financial position in a consistent manner. Our management regularly assesses these policies in light of current and forecasted economic conditions. Accounting policies that our management believes to be critical to understanding the results of our operations and the effect of the more significant judgments and estimates used in the preparation of the condensed consolidated financial statements are as those described in the Form 8-K of the Company filed on April 16, 2007 for the year ended December 31, 2006 with the SEC and as amended on August 30, 2007 and as follows.
Research and Development:
In accordance with Statement of Financial Accounting Standards ("SFAS") No. 2 "Accounting for Research and Development Costs," all research and development ("R&D") costs are expensed when they are incurred, unless they are reimbursed under specific contracts. Assets used in R&D activity, such as machinery, equipment, facilities and patents that have alternative future use either in R&D activities or otherwise are capitalized. In connection with the investment and advances in subsidiary, associate or other entity where repayment from such subsidiary, associate or entity solely on the results of the research and development having future economic benefit, the investment and advance is accounted for as costs incurred by the Company as research and development in accordance with SFAS No. 68 "Research and Development Arrangements".
Share-Based Payment:
In accordance with SFAS No. 123R "Share-Based Payment" all forms of share-based payment ("SBP") awards including shares issued under employee stock purchase plans, stock options, restricted stock and stock appreciation rights result in a cost that is measured at fair value on the awards' grant date, based on the estimated number of awards that are expected to vest.
Index
ITEM 2 - PLAN OF OPERATION (Continued)
The Company accounts for equity instruments issued to non-employees in accordance with the provisions of Emerging Issues Task Force (EITF) Issue No. 96-18, "Accounting for Equity Instruments That Are Issued to Other Than Employees for Acquiring, or in Conjunction with Selling, Goods or Services," which requires that such equity instruments are recorded at their fair value on the measurement date. The measurement of stock-based compensation is subject to periodic adjustment as the underlying equity instrument vests. Non-employee stock-based compensation charges are amortized over the vesting period or period of performance of the services.
Recent Accounting Pronouncements
In December 2007, the FASB issued SFAS No. 141(R), "Business Combinations" ("SFAS 141(R)"). SFAS 141(R) replaces SFAS No. 141, "Business Combinations", but retains the requirement that the purchase method of accounting for acquisitions be used for all business combinations. SFAS 141(R) expands on the disclosures previously required by SFAS 141, better defines the acquirer and the acquisition date in a business combination, and establishes principles for recognizing and measuring the assets acquired (including goodwill), the liabilities assumed and any non-controlling interests in the acquired business. SFAS 141(R) also requires an acquirer to record an adjustment to income tax expense for changes in valuation allowances or uncertain tax positions related to acquired businesses. SFAS 141(R) is effective for all business combinations with an acquisition date in the first annual period following December 15, 2008; early adoption is not permitted. We adopted this statement as of January 1, 2009. The adoption of SFAS 141(R) did not have a material impact on our financial position, results of operations or cash flows.
In December 2007, the FASB issued SFAS No. 160, "Non-controlling Interests in Consolidated Financial Statements-an amendment of ARB No. 51" (SFAS 160). SFAS 160 requires that non-controlling (or minority) interests in subsidiaries be reported in the equity section of the company's balance sheet, rather than in a mezzanine section of the balance sheet between liabilities and equity. SFAS 160 also changes the manner in which the net income of the subsidiary is reported and disclosed in the controlling company's income statement. SFAS 160 also establishes guidelines for accounting for changes in ownership percentages and for deconsolidation. SFAS 160 is effective for financial statements for fiscal years beginning on or after December 1, 2008 and interim periods within those years. The adoption of SFAS 160 did not have a material impact on our financial position, results of operations or cash flows.
In March 2008, the FASB issued SFAS No. 161, "Disclosures about Derivative Instruments and Hedging Activities-an amendment of FASB Statement No. 133" (SFAS 161). SFAS 161 requires enhanced disclosures about an entity's derivative and hedging activities and thereby improves the transparency of financial reporting. SFAS 161 is effective for financial statements issued for fiscal years and interim periods beginning after November 15, 2008, with early application encouraged. The adoption of SFAS 161 did not have a material impact on our financial position, results of operations or cash flows.
In March 2008, the FASB issued SFAS No. 162, The Hierarchy of Generally Accepted Accounting Principles. This statement identifies the sources of accounting principles and the framework for selecting the principles to be used in the preparation of financial statements of nongovernmental entities that are presented in conformity with US GAAP. This statement is effective 60 days following the SEC's approval of the Public Company Accounting Oversight Board amendments to AU Section 411, The Meaning of Present Fairly in Conformity With Generally Accepted Accounting Principles.
Index
ITEM 2 - PLAN OF OPERATION (Continued)
In May 2008, the FASB issued FSP Accounting Principles Board ("APB") 14-1 " Accounting for Convertible Debt Instruments that may be settled in Cash upon Conversion (Including Partial Cash Settlement) " ("FSP APB 14-1"). FSP APB 14-1 requires the issuer of certain convertible debt instruments that may be settled in cash (or other assets) on conversion to separately account for the liability
(debt) and equity (conversion option) components of the instrument in a manner that reflects the issuer's non-convertible debt borrowing rate. FSP APB 14-1 is effective for fiscal years beginning after December 15, 2008 on a retroactive basis. The adoption of FSP APB 14-1 is not expected to have a material impact on our financial position, results of operations or cash flows.
Effective January 1, 2009, the Company adopted the Financial Accounting Standards Board's Staff Position (FSP) on the Emerging Issues Task Force (EITF) Issue No. 03-6-1, "Determining Whether Instruments Granted in Share-Based Payment Transactions are Participating Securities." The FSP required that all unvested share-based payment awards that contain nonforfeitable rights to dividends should be included in the basic Earnings Per Share (EPS) calculation. This standard did not affect the consolidated financial position or results of operations.
In April 2009, the FASB issued FSP FAS No. 115-2 and FAS No. 124-2, "Recognition and Presentation of Other-Than-Temporary Impairments" ("FSP FAS No. 115-2"). FSP FAS No. 115-2 provides guidance in determining whether impairments in debt securities are other than temporary, and modifies the presentation and disclosures surrounding such instruments. This FSP is effective for interim periods ending after June 15, 2009, but early adoption is permitted for interim periods ending after March 15, 2009. The Company plans to adopt the provisions of this Staff Position during the second quarter of 2009, but does not believe this guidance will have a significant impact on its consolidated financial statements.
In April 2009, the FASB issued FSP FAS No. 157-4, "Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly" ("FSP FAS No. 157-4"). FSP FAS No. 157-4 provides additional guidance in determining whether the market for a financial asset is not active and a transaction is not distressed for fair value measurement purposes as defined in SFAS No. 157, "Fair Value Measurements." FSP FAS No. 157-4 is effective for interim periods ending after June 15, 2009, but early adoption is permitted for interim periods ending after March 15, 2009. The Company will apply the provisions of this statement prospectively beginning with the second quarter 2009, and does not expect its adoption to have a material effect on its consolidated financial statements.
In April 2009, the FASB issued FSP FAS No. 107-1 and APB 28-1, "Interim Disclosures about Fair Value of Financial Instruments" ("FSP FAS No. 107-1 and APB 28-1"). This FSP amends FASB Statement No. 107, "Disclosures about Fair Values of Financial Instruments," to require disclosures about fair value of financial instruments in interim financial statements as well as in annual financial statements. APB 28-1 also amends APB Opinion No. 28, "Interim Financial Reporting," to require those disclosures in all interim financial statements. This standard is effective for interim periods ending after June 15, 2009, but early adoption is permitted for interim periods ending after March 15, 2009. The Company plans to adopt FSP FAS No. 107-1 and APB 28-1 and provide the additional disclosure requirements beginning in second quarter 2009.
Index
ITEM 2 - PLAN OF OPERATION (Continued)
Results of Operations
Three Months Period Ended March 31, 2009 compared to Three Months Period Ended March 31, 2008
Revenue
For the three months ended March 31, 2009 and 2008, we had no revenues.
General, selling and administrative expenses
For the three months ended March 31, 2009 general, selling and administrative expenses were $478,332 as compared to $638,959 for the three months ended March 31, 2008. The decrease in general, selling and administrative expenses are attributable to stock based payments and consulting expenses.
INFLATION AND FOREIGN CURRENCY
We maintain our books in local currency: US Dollars for the parent holding company in the United States of America and Hungarian Forint for Vidatech in Hungary.
Our operations are conducted primary outside of the United States through our wholly owned subsidiary. As a result, fluctuations in currency exchange rates may significantly affect our sales, profitability and financial position when the foreign currencies, primarily the Hungarian Forint, of its international operations are translated into U.S. dollars for financial reporting. In additional, we are also subject to currency fluctuation risk with respect to certain foreign currency denominated receivables and payables. Although we cannot predict the extent to which currency fluctuations may or will affect our business and financial position, there is a risk that such fluctuations will have an adverse impact on our sales, profits and financial position. Because differing portions of our revenues and costs are denominated in foreign currency, movements could impact our margins by, for example, decreasing our foreign revenues when the dollar strengthens and not correspondingly decreasing our expenses. We do not currently hedge our currency exposure. In the future, we may engage in hedging transactions to mitigate foreign exchange risk.
The translation of our subsidiary's Forint denominated balance sheets into U.S. dollars, as of March 31, 2009, has been affected by the weakening of the U.S. dollar against the Hungarian Forint from 188.55 HUF/USD as of December 31, 2008, to 232.2 HUF/USD as of March 31, 2009, an approximate 18% depreciation in value. The average Hungarian Forint/U.S. dollar exchange rates used for the translation of the subsidiaries forint denominated statements of operations into U.S. dollars, for the three months ended March 31, 2009 and 2008 were 217.86 and 171.18, respectively.
Genetic Immunity, InPlay: Second Phase II Clinical Trial Commences in Italy on Company's Lead Product Candidate DermaVir Patch HIV Vaccine
* On Thursday April 16, 2009, 9:52 am EDT
*
Buzz up!
* Print
BUDAPEST, HUNGARY--(MARKET WIRE)--Apr 16, 2009 -- Power of the Dream Ventures, Inc. (OTC BB:PWRV.OB - News), Hungary's premier technology acquisition and development company, is pleased to present this Genetic Immunity release, based on a previously announced agreement whereby Power of the Dream Ventures will issue communications for Genetic Immunity on an ongoing basis.
Genetic Immunity is pleased to announce the commencement of an exploratory Phase II clinical trial of the Company's DermaVir Patch HIV nanomedicine vaccine lead product candidate being conducted at Policlinico San Matteo in Pavia, Italy.
This Phase II, randomized, placebo-controlled trial is designed to investigate whether therapeutic immunization during highly active antiretroviral therapy (HAART) induces elevations of HIV-specific memory T cells in HIV-1-infected individuals, and whether the quantity of these memory T cells correlate with the viral load set point following analytical treatment interruption (ATI). Subjects are being randomized to receive either DermaVir Patch (8 subjects per cohort) or Placebo Patch (8 subjects per cohort) every four weeks for three applications while receiving maximally suppressive HAART. HAART will be discontinued at Week 9 for an ATI period of 20 weeks. The trial will employ a novel assay of memory T-cell function known as the PHPC (Precursors with High Proliferative Capacity) assay developed by ViroStatics, srl, the Italian partner of Genetic Immunity.
"I look forward to obtaining results from this, our second in-progress Phase II trial for DermaVir. I believe results will be outstanding and closely correlate with those of our first Phase II trial underway in Germany and allow us to quickly move forward to Phase III in the not too distant future. When successful, DermaVir can become the first effective HIV immune-based treatment on the market within the next few years," commented Julianna Lisziewicz, CEO of Genetic Immunity.
"The trial has the potential to indicate biomarkers of immune control of HIV. We are very glad we can test the hypothesis by employing DermaVir, one of the best immune-based product candidates available," added Franco Lori, Protocol Chair of the Trial.
A total of 16 subjects will be enrolled and randomized to receive DermaVir Patch (8 subjects) or DermaVir Patch Placebo (8 subjects). As of the date of this press release three patients have already been enrolled.
For more information please visit the Company's official website at http://www.geneticimmunity.com or contact Zsolt Lisziewicz directly at +36-1-272-0364.
About Genetic Immunity
Genetic Immunity is a US/Hungarian development stage biopharmaceutical company establishing leadership in Nanomedicines for immune amplification. Nanomedicine, an offshoot of nanotechnology, refers to highly specific medical intervention at the molecular scale for treating disease or repairing damaged tissues. By leveraging its proprietary immune amplification platform technology, the Company aims to address new markets for infectious diseases, cancer and allergies through the discovery, development and commercialization of topically administered nanomedicines. These indications represent a significant unmet medical need and the potential for alternative treatment approaches. http://www.geneticimmunity.com
About Power of the Dream Ventures
Power of the Dream Ventures, Inc. is a leading technology holding company. We identify and harness the unique technological prowess of Hungary's high-tech industry, turning promising ideas and ready to market products/technologies into global industry leaders. We focus on developing, acquiring, licensing, or co-developing technologies that originate exclusively in Hungary that are in prototype stage based on existing patents; in prototype stage prior to patenting; existing products that require expansion capital to commercialize; emerging science and high-technology research projects that require help in patenting, developing the product and marketing, University spin-off technologies, and ideas from the very early stage that represent "disruptive technologies." We primarily focus on providing enabling solutions in the fields of environmental technologies, power generation and storage, software products and services, biotechnology, medical devices and what we call 'disruptive technologies.' For more information please visit our website at http://www.powerofthedream.com
what do you think about??? PWRV !!!EOM
PWRV...opinions!!!???eom
Ready for Take off!! eom
Genetic Immunity, Retrospective: Next Generation DNA Vaccine - DermaVir nanomedicine for the Treatment of HIV/AIDS
* On Thursday February 26, 2009, 10:18 am EST
*
Buzz up!
* Print
BUDAPEST, HUNGARY--(MARKET WIRE)--Feb 26, 2009 -- Power of the Dream Ventures, Inc. (OTC BB:PWRV.OB - News), Hungary's premier technology acquisition and development company, is pleased to present this Genetic Immunity release based on a previously announced agreement whereby Power of the Dream Ventures will issue communications for Genetic Immunity on a going forward basis.
Genetic Immunity's next generation of DNA vaccine - The DermaVir Patch
"We have been developing the DermaVir Patch as our lead product candidate for the treatment of HIV/AIDS," Julianna Lisziewicz begins telling her Company's story. "The DermaVir Patch is the next generation of DNA vaccine patented for the treatment of chronic diseases. Based on FDA classification, it is a combination of our new biologic product (DermaVir) and our new medical device (DermaPrep). DermaVir contains a novel plasmid DNA that encodes most, but not all HIV genes. It is administered topically using our DermaPrep medical device. The discovery behind DermaVir began with clinical observations and extensive examinations of one particular patient known as the 'Berlin Patient.' He showed us that (i) induction of long-term immune control in HIV-positive individuals is feasible, and (ii) antiviral T-cells can control HIV replication in HIV-positive individuals. Shortly after he become infected we treated the Berlin Patient with antiretroviral drugs, followed by two interruptions in his drug therapy, which resulted in controlled viral load rebounds. By Christmas of 1996, although he permanently interrupted his therapy, his viral load remained undetectable because his HIV-specific immune response was capable of killing virus infected cells. Blood tests showed that he developed gag-specific memory T-cell responses that were capable of controlling virus replication. To date, he has not resumed antiretroviral treatments, and his immune system still keeps viral replication in bay. This initial observation, and subsequent primate studies, provided the rationale for our next generation nanomedicine-based immune therapy," added Dr. Lisziewicz, finishing the origins of Genetic Immunity's work.
"Proof of concept" for the immunological and antiviral activities of Genetic Immunity's product was demonstrated in infected macaques, some of them with advanced stages of AIDS. Analysis of data derived from these animal trials suggested that repeated DermaVir administration results in a cumulative strengthening of the antiviral immune response without adding significant toxicities or adverse effects. Among all animal studies, the monkey model is thought to be superior to other commonly used animal models (e.g., mice, rats, rabbits) because the disease's progression and response to treatments in macaques is very similar to the human disease. Genetic Immunity believes that the DermaVir Patch has the potential to be the next generation of DNA vaccines designed to inhibit HIV replication by cytotoxic killing of HIV-infected cells. Currently, there are no approved immune therapy or nanomedicine products on the HIV market.
Next generation of DNA vaccine: DermaVir nanomedicine
Plasmid DNA-based vaccines have been proven safe but poorly immunogenic in human subjects. Genetic Immunity developed several technologies to improve the immunogenicity of DNA-encoded antigens, including:
-- Antigeneering of plasmid DNA to safely and authentically express most
of the antigens of HIV or other pathogens.
-- The formulation of plasmid DNA to a pathogen-like nanoparticle called
NanoComp. These nanoparticles target professional antigen-presenting cells,
like Langerhans cells and dendritic cells.
-- A targeted transdermal delivery device called DermaPrep. It targets
NanoComp in vivo to the organ where new immune responses are to be
initiated. It has been shown that topical DermaPrep administration of
NanoComp results in antigen expression in the lymph nodes by dendritic
cells.
"Following the successful completion of our preclinical studies, in 2005 we initiated Phase 1 human trials. The clinical trial data obtained confirmed and extended our pre-clinical results. We successfully demonstrated that a single DermaVir Patch treatment induced new HIV-specific memory T-cells that correlated to the amount of nanomedicine the subject received. An exceptional increase in the number of long-lived HIV-specific memory T-cells was also detected in all of the nine DermaVir-treated individuals, in a dose-dependent manner. We believe that this is the first demonstration of a product that can induce such high quantity and memory quality T-cells," Dr. Lisziewicz continued. "In addition, a separate, second study conducted in collaboration with colleagues at Virostatics srl (Italy), also demonstrated that the quantity of such HIV-specific memory T-cells showed significantly correlation with the level of viral load in HIV-infected individuals. In both tests DermaVir-induced T-cells remained in the body even after a year, albeit at lower levels, but still at a significant 6 to 18,000 times above pre-treatment values. The treatments were well tolerated and toxicities were limited to mild transient erythema thereby meeting both end points of the trial," concluded Dr. Lisziewicz.
The macaque and Phase 1 human data constitute the basis of Genetic Immunity's Phase II clinical development program. The Company believes that the studies performed to date support their proof of concept, the relationship between DermaVir-induced antiviral immune responses and clinical benefit. Based on historical data the Company believes the DermaVir Patch will be most effective when administered nine times a year, for a period of three hours per treatment. Clinical data further suggest that DermaVir can also be beneficial for different types of HIV-positive individuals, including patients at early stages that have not yet been treated with drugs and patients with late stages of disease.
For further information please visit the Company's official website at http://www.geneticimmunity.com
About Genetic Immunity
Genetic Immunity is a US/Hungarian development stage biopharmaceutical company establishing leadership in Nanomedicines for immune amplification. Nanomedicine, an offshoot of nanotechnology, refers to highly specific medical intervention at the molecular scale for treating disease or repairing damaged tissues. By leveraging its proprietary immune amplification platform technology, the company aims to address new markets for infectious diseases, cancer and allergies through the discovery, development and commercialization of topically administered nanomedicines. These indications represent a significant unmet medical need and the potential for alternative treatment approaches. For more information please visit Genetic Immunity's website at http://www.geneticimmunity.com
About Power of the Dream Ventures
Power of the Dream Ventures, Inc. is a leading technology holding company. We identify and harness the unique technological prowess of Hungary's high-tech industry, turning promising ideas and ready to market products/technologies into global industry leaders. We focus on developing, acquiring, licensing, or co-developing technologies that originate exclusively in Hungary that are in prototype stage based on existing patents; in prototype stage prior to patenting; existing products that require expansion capital to commercialize; emerging science and high-technology research projects that require help in patenting, developing the product and marketing, University spin-off technologies, and ideas from the very early stage that represent "disruptive technologies." We primarily focus on providing enabling solutions in the fields of environmental technologies, power generation and storage, software products and services, biotechnology, medical devices and what we call 'disruptive technologies.'
Genetic Immunity, Retrospective: Phase 1 Trial Results for the Company's HIV Vaccine Candidate Lead Product
* On Wednesday March 4, 2009, 10:11 am EST
*
Buzz up!
* Print
BUDAPEST, HUNGARY--(MARKET WIRE)--Mar 4, 2009 -- Power of the Dream Ventures, Inc. (OTC BB:PWRV.OB - News), Hungary's premier technology acquisition and development company, is pleased to present this Genetic Immunity release, based on a previously announced agreement whereby Power of the Dream Ventures will issue communications for Genetic Immunity on a going forward basis.
Phase 1 trial results for Genetic Immunity's DermaVir Patch HIV vaccine.
Background:
Genetic Immunity's proprietary DermaVir Patch nanomedicine has been developed to attenuate clinical disease in HIV-infected individuals by induction of long-lasting, HIV-specific T-cells. Preclinical studies on SIV-infected and naive macaques demonstrated that the potent T cell response induced by DermaVir is associated with clinical benefits, including viral load reduction and extended survival. Phase 1 human data for safety and immunogenicity was presented at the 15th Conference on Retroviruses and Opportunistic Infections.
Test methodology:
Nine HIV infected individuals on fully suppressive HAART were treated a single-time with an increasing number of DermaVir nanomedicine containing 0.1, 0.4 and 0.8 mg of multiple HIV genes encoded plasmid DNA. HAART was maintained during a one-year follow-up. Safety was assessed with standard clinical evaluation, laboratory assays and dermatological analysis of skin reaction. HIV-specific (gag, tat, rev) effector T cells were measured by standard ELISPOT and memory T cells with high proliferative capacity PHPC assay as published in J Immunol 2008, 180: 5907-5915.
Safety and immunogenicity results
All DermaVir Patch doses were safe and well tolerated. In all patients, plasma HIV RNA, CD4 and CD8 counts remained in the pre-vaccination level throughout the study. The magnitude of gag-specific memory T cells (PHPC counts) increased from < 200 (baseline) to 2,500-21,500 and 3,000-37,000 at the end of week 48, when administered in medium (0.4mg) and high dose (0.8mg) amounts. The broadening of T cell response was demonstrated by the induction of new rev- and tat-specific memory T cells. These were mostly undetectable prior to immunization and increased between 3,000 and 30,000 (rev) and 60 to 30,000 (tat) in the medium dose and up to 1,000 to 7,000 (rev) and 600 to 4,000 (tat) in the high dose. In the medium dose cohort, for example, the average frequency of total memory and of effector T cells (shown in parenthesis) prior to vaccination were 124 (20); 28 days after vaccination 231,403 (720), and one year later 82,776 (not measured), indicating > 10 fold expansion of effectors and > 100 fold of long-lived memory T cells.
Needleless topical immunization with DermaPrep device.
DermaVir nanomedicine is administered topically with DermaPrep, Genetic Immunity's proprietary transdermal vaccine delivery device. DermaPrep delivers nanomedicine through the stratum corneum into the precursors of dendritic cells, the Langerhans cells. The proprietary antigen formulation into nanomedicines facilitates the presentation of antigens in lymph node dendritic cells. DermaPrep device together with the nanomedicine antigen formulation replaces the cumbersome ex vivo dendritic cell vaccination method. It is also an alternative to syringes, eliminating many problems associated with needles.
Conclusions
Our DermaVir nanomedicine immunization in HIV positive subjects was safe and well tolerated. Single DermaVir Patch treatments broadened and significantly increased the HIV-specific memory T cell pool in a dose dependent manner from 6 to 18,000 fold. DermaVir-induced T cell response was long lasting, detectible in all immunized subjects up to a year later. DermaVir nanomedicine can be used for repeated immunization without the constraints of anti-vector immunity or additional immune activation. These trial results suggest the excellent safety and immunogenicity profile of this new generation of DNA vaccine for human subjects.
Based on the successful completion of this Phase 1 study, a larger, double blind placebo controlled Phase 2 trial is currently underway in Hamburg, Germany.
About Genetic Immunity
Genetic Immunity is a US/Hungarian development stage biopharmaceutical company establishing leadership in Nanomedicines for immune amplification. Nanomedicine, an offshoot of nanotechnology, refers to highly specific medical intervention at the molecular scale for treating disease or repairing damaged tissues. By leveraging its proprietary immune amplification platform technology, the company aims to address new markets for infectious diseases, cancer and allergies through the discovery, development and commercialization of topically administered nanomedicines. These indications represent a significant unmet medical need and the potential for alternative treatment approaches. For more information please visit Genetic Immunity's website at http://www.geneticimmunity.com
About Power of the Dream Ventures
Power of the Dream Ventures, Inc. is a leading technology holding company. We identify and harness the unique technological prowess of Hungary's high-tech industry, turning promising ideas and ready to market products/technologies into global industry leaders. We focus on developing, acquiring, licensing, or co-developing technologies that originate exclusively in Hungary that are in prototype stage based on existing patents; in prototype stage prior to patenting; existing products that require expansion capital to commercialize; emerging science and high-technology research projects that require help in patenting, developing the product and marketing, University spin-off technologies, and ideas from the very early stage that represent "disruptive technologies." We primarily focus on providing enabling solutions in the fields of environmental technologies, power generation and storage, software products and services, biotechnology, medical devices and what we call 'disruptive technologies.'
Genetic Immunity, InPlay: Genetic Immunity Receives CE Marking for DermaPrep, a Unique Transdermal Delivery Device
* On Wednesday March 11, 2009, 9:44 am EDT
*
Buzz up!
* Print
BUDAPEST, HUNGARY--(MARKET WIRE)--Mar 11, 2009 -- Power of the Dream Ventures, Inc. (OTC BB:PWRV.OB - News), Hungary's premier technology acquisition and development company, is pleased to present this Genetic Immunity release, based on a previously announced agreement whereby Power of the Dream Ventures will issue communications for Genetic Immunity on a going forward basis.
The DermaPrep Transdermal Delivery Device supports safe, needle-free administration of liquid formulations in both general hospital and clinical settings. To facilitate the penetration of substances, the skin is cleansed and exfoliated prior to application of the empty patch that serves to retain the liquid in a moist environment.
DermaPrep, conceived as an alternative to syringes, is designed for the targeted delivery of molecules via the stratum corneum to the following tissues:
-- the lymphoid tissue for vaccines formulated with Nanomedicines
-- the blood for sensitive / unstable drugs (e.g. cancer chemotherapy)
Importantly, sensitive substances that cannot be formulated together with patches can now be topically administered. Medications can be stored frozen or lyophilized just prior to use and doses can be adjusted by volume, concentration, patch size, or number of patches used.
Substances are administered via a simple, three step process.
First, the skin is cleansed and exfoliated using the supplied sponge and medical tape. The advantage gained is improved penetration of substances through skin. Next, the Transparent Film Dressing (Patch) is applied, providing a container that keeps medication in contact with the prepared skin surface. The dimensions of the patch can be adapted to any size desired. And in the third, final step the active substance of the treatment is applied under the patch using a needle-free syringe or an applicator equipped plastic bottle.
DermaPrep clinical data has been obtained via administration of pDNA-encoded antigens formulated to nanoparticles. Genetic Immunity's proprietary Nanomedicine formulation (antigens, pDNA, proteins, peptides, etc.) is delivered topically with DermaPrep, targeting the body's professional antigen presenting cells, the lymph node dendritic cells, to induce potent immune responses.
Through the Company's ongoing clinical trials program, DermaPrep has amassed significant quantities of data proving its preclinical and clinical safety, tolerability and immunogenicity. As of October 2008, DermaPrep has been granted a CE mark (marketing approval) for medical devices in Europe, with US certification underway.
To expand the unique delivery potential of DermaPrep it is now available for licensing worldwide.
For specific delivery situations, to receive our detailed product literature, to schedule a consultation or for general information please visit the Company's official website at http://www.geneticimmunity.com or contact Zsolt Lisziewicz directly at +36-1-272-0364.
About Genetic Immunity
Genetic Immunity is a US/Hungarian development stage biopharmaceutical company establishing leadership in Nanomedicines for immune amplification. Nanomedicine, an offshoot of nanotechnology, refers to highly specific medical intervention at the molecular scale for treating disease or repairing damaged tissues. By leveraging its proprietary immune amplification platform technology, the company aims to address new markets for infectious diseases, cancer and allergies through the discovery, development and commercialization of topically administered nanomedicines. These indications represent a significant unmet medical need and the potential for alternative treatment approaches.
About Power of the Dream Ventures
Power of the Dream Ventures, Inc. is a leading technology holding company. We identify and harness the unique technological prowess of Hungary's high-tech industry, turning promising ideas and ready to market products/technologies into global industry leaders. We focus on developing, acquiring, licensing, or co-developing technologies that originate exclusively in Hungary that are in prototype stage based on existing patents; in prototype stage prior to patenting; existing products that require expansion capital to commercialize; emerging science and high-technology research projects that require help in patenting, developing the product and marketing, University spin-off technologies, and ideas from the very early stage that represent "disruptive technologies." We primarily focus on providing enabling solutions in the fields of environmental technologies, power generation and storage, software products and services, biotechnology, medical devices and what we call 'disruptive technologies.' For more information please visit our website at http://www.powerofthedream.com
in4, Ltd. Issues Beta Tester Keys for the Company's iGlue Content Organizer Semantic Web Technology
* On Thursday March 19, 2009, 9:48 am EDT
*
Buzz up!
* Print
BUDAPEST, HUNGARY--(MARKET WIRE)--Mar 19, 2009 -- Power of the Dream Ventures, Inc. (OTC BB:PWRV.OB - News), Hungary's premier technology acquisition and development company, today announced that in4, Ltd. has began issuing beta tester keys to individuals who registered as of February 2, 2009.
The beta key enables users to log-in and test the front end of in4's iGlue internet search and content organizer application called IceCube. IceCube is a cross domain compatible user interface connecting the diverse functionality of iGlue in an extremely easy to use product that is backed by a database organized on multi-dimensional, semantic principles. IceCube brings a wealth of information on a diverse number of topics to user without leaving the website being browsed.
In its current limited Beta release a New York Times article can be browsed, providing a cross inked database of hundreds of thousands of entries, images, videos and more.
"We would ask all registered beta testers to give us as much feedback as possible on IceCube. Functionality, ergonomics, features, ease of use (or lack thereof) and more. A special feedback form was created for this purpose. In the coming weeks additional browseable web pages will be added for testing, including an Egyptian theme travel site, a news site and a commercial site. In four weeks the Beta test will also be opened to the 'back end' of IceCube, the searchable database behind iGlue. By the end of August the entire iGlue experience with automatic annotation and user generated entries will be online and will be usable on any webpage of the World Wide Web," commented Viktor Rozsnyay, CEO of Power of the Dream Ventures.
iGlue will also allow community editing, much like Wikipedia. This feature will be open to Beta testers by the end of June.
"I am excited in releasing beta keys for iGlue. In the coming months lots and lots of additional features will be brought online culminating in a live release of the software. I hope our user community will enjoy iGlue as much as we did in developing it," added Peter Vasko, CEO of in4, Ltd.
Of the original 1000 beta tester positions approximately 30% remain available. in4, Ltd. is still looking for interested parties to register and help shape the final product. To register to be an iGlue beta tester please visit http://www.iglue.com.
Power of the Dream Ventures acquired equity in in4, Ltd. in 2007 and has been financing development of iGlue since. The Company currently owns 40% of in4, Ltd.
About Power of the Dream Ventures
Power of the Dream Ventures, Inc. is a leading technology holding company. We identify and harness the unique technological prowess of Hungary's high-tech industry, turning promising ideas and ready to market products/technologies into global industry leaders. We focus on developing, acquiring, licensing, or co-developing technologies that originate exclusively in Hungary that are in prototype stage based on existing patents; in prototype stage prior to patenting; existing products that require expansion capital to commercialize; emerging science and high-technology research projects that require help in patenting, developing the product and marketing, University spin-off technologies, and ideas from the very early stage that represent "disruptive technologies." We primarily focus on providing enabling solutions in the fields of environmental technologies, power generation and storage, software products and services, biotechnology, medical devices and what we call 'disruptive technologies.' For more information please visit http://www.powerofthedream.com
Contact:
Press Release Source: Power of the Dream Ventures, Inc.
Genetic Immunity, InPlay: Genetic Immunity Licenses Plasmid DNA Purification Technology
* On Wednesday April 1, 2009, 9:51 am EDT
*
Buzz up!
* Print
BUDAPEST, HUNGARY--(MARKET WIRE)--Apr 1, 2009 -- Power of the Dream Ventures, Inc. (OTC BB:PWRV.OB - News), Hungary's premier technology acquisition and development company, is pleased to present this Genetic Immunity release, based on a previously announced agreement whereby Power of the Dream Ventures will issue communications for Genetic Immunity on a going forward basis.
Genetic Immunity is pleased to announce the licensing of a large-scale purification process for pharmaceutical grade plasmid-DNA manufacturing from Aldevron LLC, a US based contract manufacturing organization that specializes in purifying plasmid-DNA and other biological molecules.
"We have been working with the Aldevron team for a year now to develop technology suitable for manufacturing large plasmid DNA ( > 10kb). One of the limitations we encountered in trying to use current DNA manufacturing technologies was that current suppliers have optimized their technology for much smaller plasmid DNA manufacturing. These processes are not suitable for manufacturing the required quantity and quality of large plasmid DNAs we need. The Active Pharmaceutical Ingredients in our products are large plasmid DNAs expressing simultaneously many antigens. For example, the DNA in our DermaVir Patch investigational HIV vaccine is almost 12kB. It has been very challenging to obtain from contract manufacturers acceptable quantity and quality of this size plasmid DNA," commented Julianna Lisziewicz, CEO of the Company.
"We are very excited to be working with Genetic Immunity and helping them meet their quality and production requirements in support of phase II clinical trials and beyond. We view all of our work with clients as collaborative efforts and this collaboration with Genetic Immunity has resulted in several interesting manufacturing innovations," added Justin Poley, Business Development Director Aldevron LLC.
"We are very happy to have acquired a license to this technology from Aldevron because it is optimized to our plasmid DNA needs. Of equal importance is the fact that the quality of the DNA produced is suitable for our patented nanoformulation technology. Once our manufacturing facilities are established in Budapest we plan on becoming the largest producer of plasmid-DNA in Central-Eastern Europe. This will not only allow us to meet our own needs, but to supply the best quality products to other companies and researchers working in this field. Our facility will also allow us to meet stringent quality control and volume needs as we move forward with several clinical trials, and the eventual treatment of patients. Genetic immunity is not just a cutting edge Research and Development Company, our vision is to produce the products needed for our protocols and treatments," commented Zsolt Lisziewicz, COO of the Company.
Plasmids are closed circular molecules of double-stranded DNA that range in size from 1 to > 20 kB. Plasmids often contain genes that code for antigens and enzymes that can be advantageous to the host cell in some circumstances. The encoded proteins may be involved in inducing immune responses, resistance to, or production of antibiotics, resistance to toxins. Genetic Immunity proprietary DermaVir Patch technology uses special, 12kB plasmid-DNA, encoding most of the HIV genetic information. The plasmid is formulated to a nanomedicine and delivered to the dendritic cells of the lymph nodes to induce potent immune responses.
For more information please visit the Company's official website at http://www.geneticimmunity.com or contact Zsolt Lisziewicz directly at +36-1-272-0364
About Genetic Immunity
Genetic Immunity is a US/Hungarian development stage biopharmaceutical company establishing leadership in Nanomedicines for immune amplification. Nanomedicine, an offshoot of nanotechnology, refers to highly specific medical intervention at the molecular scale for treating disease or repairing damaged tissues. By leveraging its proprietary immune amplification platform technology, the company aims to address new markets for infectious diseases, cancer and allergies through the discovery, development and commercialization of topically administered nanomedicines. These indications represent a significant unmet medical need and the potential for alternative treatment approaches. http://www.geneticimmunity.com
About Power of the Dream Ventures
Power of the Dream Ventures, Inc. is a leading technology holding company. We identify and harness the unique technological prowess of Hungary's high-tech industry, turning promising ideas and ready to market products/technologies into global industry leaders. We focus on developing, acquiring, licensing, or co-developing technologies that originate exclusively in Hungary that are in prototype stage based on existing patents; in prototype stage prior to patenting; existing products that require expansion capital to commercialize; emerging science and high-technology research projects that require help in patenting, developing the product and marketing, University spin-off technologies, and ideas from the very early stage that represent "disruptive technologies." We primarily focus on providing enabling solutions in the fields of environmental technologies, power generation and storage, software products and services, biotechnology, medical devices and what we call 'disruptive technologies.' For more information please visit our website at http://www.powerofthedream.com
OK eom
After Hours
Time (ET) After Hours
Price After Hours
Share Volume
16:26 $ .16 165,687
16:18 $ .16 114,680
no Volume!! eom
0.18 gooooooooo! lol eom
close greeeeen! lol eom
OK thx!
nice weekend
Waiting to hear from the BK court? Sorry im new here!
GL
enetic Immunity, InPlay: Second Phase II Clinical Trial Commences in Italy on Company's Lead Product Candidate DermaVir Patch HIV Vaccine
* On Thursday April 16, 2009, 9:52 am EDT
*
Buzz up!
* Print
BUDAPEST, HUNGARY--(MARKET WIRE)--Apr 16, 2009 -- Power of the Dream Ventures, Inc. (OTC BB:PWRV.OB - News), Hungary's premier technology acquisition and development company, is pleased to present this Genetic Immunity release, based on a previously announced agreement whereby Power of the Dream Ventures will issue communications for Genetic Immunity on an ongoing basis.
Genetic Immunity is pleased to announce the commencement of an exploratory Phase II clinical trial of the Company's DermaVir Patch HIV nanomedicine vaccine lead product candidate being conducted at Policlinico San Matteo in Pavia, Italy.
This Phase II, randomized, placebo-controlled trial is designed to investigate whether therapeutic immunization during highly active antiretroviral therapy (HAART) induces elevations of HIV-specific memory T cells in HIV-1-infected individuals, and whether the quantity of these memory T cells correlate with the viral load set point following analytical treatment interruption (ATI). Subjects are being randomized to receive either DermaVir Patch (8 subjects per cohort) or Placebo Patch (8 subjects per cohort) every four weeks for three applications while receiving maximally suppressive HAART. HAART will be discontinued at Week 9 for an ATI period of 20 weeks. The trial will employ a novel assay of memory T-cell function known as the PHPC (Precursors with High Proliferative Capacity) assay developed by ViroStatics, srl, the Italian partner of Genetic Immunity.
"I look forward to obtaining results from this, our second in-progress Phase II trial for DermaVir. I believe results will be outstanding and closely correlate with those of our first Phase II trial underway in Germany and allow us to quickly move forward to Phase III in the not too distant future. When successful, DermaVir can become the first effective HIV immune-based treatment on the market within the next few years," commented Julianna Lisziewicz, CEO of Genetic Immunity.
"The trial has the potential to indicate biomarkers of immune control of HIV. We are very glad we can test the hypothesis by employing DermaVir, one of the best immune-based product candidates available," added Franco Lori, Protocol Chair of the Trial.
A total of 16 subjects will be enrolled and randomized to receive DermaVir Patch (8 subjects) or DermaVir Patch Placebo (8 subjects). As of the date of this press release three patients have already been enrolled.
For more information please visit the Company's official website at http://www.geneticimmunity.com or contact Zsolt Lisziewicz directly at +36-1-272-0364.
About Genetic Immunity
Genetic Immunity is a US/Hungarian development stage biopharmaceutical company establishing leadership in Nanomedicines for immune amplification. Nanomedicine, an offshoot of nanotechnology, refers to highly specific medical intervention at the molecular scale for treating disease or repairing damaged tissues. By leveraging its proprietary immune amplification platform technology, the Company aims to address new markets for infectious diseases, cancer and allergies through the discovery, development and commercialization of topically administered nanomedicines. These indications represent a significant unmet medical need and the potential for alternative treatment approaches. http://www.geneticimmunity.com
About Power of the Dream Ventures
Power of the Dream Ventures, Inc. is a leading technology holding company. We identify and harness the unique technological prowess of Hungary's high-tech industry, turning promising ideas and ready to market products/technologies into global industry leaders. We focus on developing, acquiring, licensing, or co-developing technologies that originate exclusively in Hungary that are in prototype stage based on existing patents; in prototype stage prior to patenting; existing products that require expansion capital to commercialize; emerging science and high-technology research projects that require help in patenting, developing the product and marketing, University spin-off technologies, and ideas from the very early stage that represent "disruptive technologies." We primarily focus on providing enabling solutions in the fields of environmental technologies, power generation and storage, software products and services, biotechnology, medical devices and what we call 'disruptive technologies.' For more information please visit our website at http://www.powerofthedream.com
Contact:
Contact:
At Genetic Immunity:
Dr. Zsolt Lisziewicz
Chief Operating Officer
Phone: +36-1-272-0364
Fax: +36-1-272-0364
At Power of the Dream Ventures:
Viktor Rozsnyay
President and CEO
Genetic Immunity, InPlay: Company to Attend CLINAM European Conference for Clinical Nanomedicine
* On Thursday April 23, 2009, 11:11 am EDT
*
Buzz up!
* Print
BUDAPEST, HUNGARY--(MARKET WIRE)--Apr 23, 2009 -- Power of the Dream Ventures, Inc. (OTC BB:PWRV.OB - News), Hungary's premier technology acquisition and development company, is pleased to present this Genetic Immunity release, based on a previously announced agreement whereby Power of the Dream Ventures will issue communications for Genetic Immunity on an ongoing basis.
Genetic Immunity is pleased to announce that Julianna Lisziewicz, Chief Executive Officer of the Company will be presenting at the European Conference for Clinical Nanomedicine, to be held from April 26-29, 2009 at the Basel Convention Center in Basel, Switzerland.
"The participants of this conference are working on nanotechnology-based drugs and biologics which have novel forms of therapeutic functionality meant to improve their efficacy and limit their negative side-effects. The interest in this clinical nanomedicine conference suggests that European entrepreneurs can be competitive globally and perhaps even spearhead the development of Nanomedicines. With our lead Nanomedicine Vaccine, the DermaVir Patch which is already in Phase II clinical trials, we are pioneering the field of Nanovaccines. Nanovaccines are just emerging as potential treatment and prevention solutions, and have recently gained recognition in the treatment of HIV, cancer and hepatitis. I look forward to exchange scientific and business information with other participants at the conference," commented Julianna Lisziewicz, CEO of the Company.
The European Conference for Clinical Nanomedicine is the annual scientific conference uniting clinicians and nanoscientists who have the common vision to apply nanoscience methods, tools and materials to the benefit of patients. It is a conference with European emphasis and international participation.
About Genetic Immunity
Genetic Immunity is a US/Hungarian development stage biopharmaceutical company establishing leadership in Nanomedicines for immune amplification. Nanomedicine, an offshoot of nanotechnology, refers to highly specific medical intervention at the molecular scale for treating disease or repairing damaged tissues. By leveraging its proprietary immune amplification platform technology, the Company aims to address new markets for infectious diseases, cancer and allergies through the discovery, development and commercialization of topically administered nanomedicines. These indications represent a significant unmet medical need and the potential for alternative treatment approaches. http://www.geneticimmunity.com
About Power of the Dream Ventures
Power of the Dream Ventures, Inc. is a leading technology holding company. We identify and harness the unique technological prowess of Hungary's high-tech industry, turning promising ideas and ready to market products/technologies into global industry leaders. We focus on developing, acquiring, licensing, or co-developing technologies that originate exclusively in Hungary that are in prototype stage based on existing patents; in prototype stage prior to patenting; existing products that require expansion capital to commercialize; emerging science and high-technology research projects that require help in patenting, developing the product and marketing, University spin-off technologies, and ideas from the very early stage that represent "disruptive technologies." We primarily focus on providing enabling solutions in the fields of environmental technologies, power generation and storage, software products and services, biotechnology, medical devices and what we call 'disruptive technologies.' For more information please visit our website at http://www.powerofthedream.com.
Contact:
Contact:
At Genetic Immunity:
Dr. Zsolt Lisziewicz
Chief Operating Officer
Phone: +36-1-272-0364
Fax: +36-1-272-0364
At Power of the Dream Ventures:
Viktor Rozsnyay
President and CEO
Phone: +36-1-456-6061
Fax: +36-1-456-6062
No Volume!! EOM
Juniper Retains New Auditors
* Friday April 17, 2009, 4:57 pm EDT
*
Buzz up!
* Print
Related:
* Juniper Group Inc.
BOCA RATON, Fla.--(BUSINESS WIRE)--Juniper Group, Inc. (OTCBB: JNIP) reported that it has retained new independent auditors on April 10, 2009. Liebman, Goldberg & Hymowitz, LLP was retained as the independent registered accounting firm for the Company.
Related Quotes
Symbol Price Change
JNIP.OB 0.0005 +0.0001
Chart for JUNIPER GRP INC
{"s" : "jnip.ob","k" : "c10,l10,p20,t10","o" : "","j" : ""}
As a result of changing auditors, the Company anticipates that it will file its Form 10K prior to May 15, 2009. Although an “E” will be temporarily appended to the Company’s trading symbol, management of Juniper wants to reassure shareholders that Juniper is working diligently to maintain its continued trading on the OTCBB.
Juniper has taken bold actions over the last year to strengthen its core business by forming a new operating subsidiary named Tower West Communications, Inc. that is positioned to obtain substantial wireless telecommunications infrastructure contracts from major telecom concerns as evidenced by the recent contract signed with Maxton Technology.
Juniper’s CEO, Vlado P. Hreljanovic, stated, “The retention of our new auditors, the creation of a new operating subsidiary, recent contract entered into with Maxton Technology and the restructuring efforts that occurred over the last year have been all steps in the right direction in laying a sound foundation for the future growth of Juniper. I believe that with the right foundation we can grow Juniper to a company with sizable revenues in a relatively short period of time."
Juniper strongly encourages the public to read the above information in conjunction with its Form 10-K for December 31, 2009, its Form 8K/A filed on April 14, 2009 and its subsequent quarterly report filed in 2008. Juniper disclosures can be viewed at www.junipergroup.com and www.sec.gov.
Safe Harbor Statement:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements.
Contact:
Juniper Group, Inc.
Investor Relations: 516-829-4670
yes? lol and hope! eom
wake up guys!!
eom
jnipe tomorrow!?
close the gap @ 8?
when comes 10-Q? eom
RT ASK? thx
nice sell?lol!eom
thx! eom
JUNIPER GROUP INC: 8-K/A, Sub-Doc 1
Back Print This Page Close Window
CURRENT REPORT FOR ISSUERS SUBJECT TO THE
1934 ACT REPORTING REQUIREMENTS
FORM 8-K/A
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Date of Event: April 8, 2009 (date of earliest event reported)
JUNIPER GROUP, INC,
(Exact name of registrant as specified in its charter)
Nevada
(State or other jurisdiction of incorporation or organization)
0-19170
(Commission File Number)
11-2866771
(IRS Employer Identification Number)
20283 State Road 7, Suite 400, Boca Raton, Florida 33498
(Address of principal executive offices)
(561) 807-8990
(Registrant's telephone number, including area code)
- 1 -
ITEM 4.01
Changes in Registrant’s Certifying Accountant
On April 8, 2009, Morgenstern, Svoboda & Baer, CPA’s (the “Former Accountant”) resigned as the independent registered public accounting firm for Juniper Group, Inc. (the “Company”).
The reports of the Former Accountant on the financial statements of the Company for each of the two most recent fiscal years, did not contain an adverse opinion or disclaimer of opinion and was not qualified or modified as to uncertainty, audit scope or accounting principles for the two most recent fiscal years and the three subsequent interim periods of 2008, except that the Former Accountant’s opinion in its report on the Company’s financial statements expressed substantial doubt with respect to the Company’s ability to continue as a going concern for the last two fiscal years.
During the Company’s two recent fiscal years and the subsequent interim periods through the date of resignation, there were no reportable events as the term described in Item 304(a)(1) of Regulation S-K except for the following:
During the Company’s two most recent fiscal years and the subsequent interim periods through the date of resignation, there were no disagreements with the Former Accountant on any matters of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which, if not resolved to the satisfaction of the Former Accountant, would have caused it to make reference to the subject matter of the disagreement in connection with its reports on the financial statements for those periods.
The Company has requested that the Former Accountant furnish it with a letter addressed to the Securities and Exchange Commission stating whether it agrees with the above statements. The requested letter is attached as Exhibit 16.1 to this Current Report on Form 8-K.
On April 10, 2009, Liebman, Goldberg & Hymowitz, LLP (the “New Accountant”) of 595 Stewart Avenue, Suite 420, Garden City, New York 11530 was retained as the independent registered public accounting firm for the Company.
In making the selection of the New Accountant, the Company’s management and board of directors reviewed auditor independence issues and the absence of any pre-existing business or commercial relationship with the New Accountant and concluded that there are no such relationships that would impair the independence of the New Accountant. The board and management of the Company concluded that the geographical proximity would benefit the Company in working with the New Accountant and promote the timely completion of work requested from the New Accountant.
During the two fiscal years ended December 31, 2006 and December 31, 2007 and through April 9, 2009, the Company did not consult with Liebman, Goldberg & Hymowitz, LLP regarding any of the matters or events set forth in Item 304(a)(1-3) of Regulation S-K.
ITEM 7.
Financial Statements and Exhibits
The following exhibits are included as part of this report:
Exhibit No.
Page No.
Description
16.1 April 14, 2009 Letter from Morgenstern, Svoboda & Baer.
- 2 -
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated this 14th day of April, 2009.
Juniper Group, Inc.
/s/ Vlado P. Hreljanovic
Vlado P. Hreljanovic, President
MORGENSTERN,SVOBODA & BAER, CPA’s,
CERTIFIED PUBLIC ACCOUNTANTS
40 Exchange Place, Suite 1820
New York, NY 10005
TEL: (212) 925-9490
FAX: (212) 226-9134
E-MAIL: MSBCPAS@gmail.COM
April 14, 2009
Securities and Exchange Commission
100 F. Street, NE
Washington, D.C. 20549
Dear Ladies and Gentlemen:
We are the predecessor independent registered public accounting firm for Juniper Group Inc. (the “Company”). We have read the Company’s disclosure set forth in Item 4.01 Changes in Registrant’s Certifying Accountants of the Company’s Current Report on Form 8-K/A dated April 14, 2009 (the “Current Report”) and are in agreement with the disclosures in the Current Report, insofar as it pertains to our firm, Morgenstern, Svoboda & Baer, CPA’s.
Sincerely,
/s/Morgenstern, Svoboda & Baer, CPA’s
- 3 -
Hallo! thx
65k for me gl eom
when comes 10-Q? eom