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gnulnx-where do TOS complaints go, to the mods or matt? TIA.
CYPT approval for sales in China-finally???
Calypte Announces Results of 2006 Annual Stockholders' Meeting
8:30a ET December 18, 2006 (PR NewsWire)
Calypte Biomedical Corporation (OTC Bulletin Board: CBMC), medical diagnostic tests manufacturer for the detection of antibodies to the human immunodeficiency virus (HIV) for the professional point of care (PRO) and over the counter (OTC) segments of the market today announced the results of its 2006 Annual Stockholders' Meeting held on December 15, 2006 at its headquarters location in Lake Oswego, Oregon.
The Company reported that its stockholders approved the following proposals:
1. To re-elect the five current directors of the Company; Mr. Roger I. Gale, Chairman and Chief Executive Officer; Mr. John J. DiPietro; Mr. Paul E. Freiman; Dr. Julius R. Krevans, M.D; and Mr. Maxim A. Soulimov, who will hold office until the next Annual Meeting of Stockholders or until their successors are elected; and 2. To ratify the appointment by the Audit Committee and the Board of Directors of Odenberg Ullakko Muranishi & Co. LLP ("OUM") as the independent registered public accounting firm to audit the Company's financial statements for the fiscal year ending December 31, 2006.
Mr. Roger Gale provided an update to the Stockholders in attendance, commenting on recent sales progress in the regions where the Company has approval of its Aware(TM) HIV-1/2 OMT (oral fluid) rapid test, specifically Russia, the Middle East and Africa. When asked about a sales outlook, Mr. Gale acknowledged the difficulty of estimating the results from these early- stage efforts, but indicated that the company is internally forecasting sales in the range of $4.5 million to $4.7 million for 2007. Although the Company does not expect this sales level to result in cash flow breakeven, it is optimistic that sales could exceed this level as several of the initiatives, including high-profile charities, certain private sector groups, and various government agencies could each result in significant sales demand.
Mr. Gale was also optimistic concerning the progress in China, stating "Dr. Ron Mink, Calypte's Chief Science Officer, was invited to attend the Chinese State Food and Drug Administration's ("SFDA") Expert Panel Meeting held on December 4, 2006 in Beijing, China, where the Company made a presentation and answered technical questions before a panel of 10 experts regarding its Aware(TM) HIV-1/2 OMT test. The SFDA has an approval process similar to that of the U.S. FDA and in that respect, this presentation is one of the later parts of the process. Although the panel needs to review the inputs from the meeting as well as other information in reaching its decision on our application, we think the meeting went well and that we satisfactorily addressed all of the panel's questions. We will continue to keep you informed as we prepare for our sales launch in China."
Mr. Gale continued, "Our factory in China has been readied for the production of our Aware(TM) products; equipment is in place and personnel have been trained. When we have completed our GMP approval, we expect to be able to supply both the Chinese and export markets, as sales demand dictates. We have a planned capacity of approximately 10 million tests per month and, through our joint venture, own land for expansion as needed. We are optimistic about our opportunity to serve the Chinese market and other key regions where the HIV/AIDS pandemic is expected to grow over the next several years. We believe our efforts to help identify HIV infections in a simple, quick and non-invasive way will be a part of the solution in helping to bring the disease under control."
About Calypte Biomedical:
Calypte Biomedical Corporation (www.calypte.com) is a U.S.-based healthcare company focused on the development and commercialization of rapid testing products for sexually transmitted diseases such as the Aware(TM) HIV- 1/2 OMT test that are suitable for use at the point of care and at home. Calypte believes there is a significant need for rapid detection of such diseases globally to control their proliferation, particularly in developing countries, which lack the medical infrastructure to support laboratory-based testing. Calypte believes that testing for HIV and other sexually transmitted infectious diseases may make important contributions to public health, and could increase the likelihood of treating those with undetected HIV and other sexually transmitted diseases.
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the Company's ability to obtain additional financing, if and as needed, and access funds from its existing financing arrangements that will allow it to continue its current and future operations and whether demand for its test products in domestic and international markets will generate sufficient revenues to achieve positive cash flow and profitability. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-KSB for the year ended December 31, 2005 and its subsequent filings with the SEC.
Company Contact: Theodore R Gwin, Chief Financial Officer (971) 204-0282 email: tgwin@calypte.com Investor Relations Contact: Tim Clemensen, Rubenstein Investor Relations Phone: (212) 843-9337 email: tclemensen@rubensteinir.com
SOURCE Calypte Biomedical Corporation
Company, Theodore R Gwin, Chief Financial Officer of Calypte Biomedical Corporation, +1-971-204-0282, or tgwin@calypte.com, or Investor Relations, Tim Clemensen of Rubenstein Investor Relations, +1-212-843-9337, or tclemensen@rubensteinir.com
http://www.calypte.com/
CYPT ready for sales in China:
Calypte Announces Results of 2006 Annual Stockholders' Meeting
8:30a ET December 18, 2006 (PR NewsWire)
Calypte Biomedical Corporation (OTC Bulletin Board: CBMC), medical diagnostic tests manufacturer for the detection of antibodies to the human immunodeficiency virus (HIV) for the professional point of care (PRO) and over the counter (OTC) segments of the market today announced the results of its 2006 Annual Stockholders' Meeting held on December 15, 2006 at its headquarters location in Lake Oswego, Oregon.
The Company reported that its stockholders approved the following proposals:
1. To re-elect the five current directors of the Company; Mr. Roger I. Gale, Chairman and Chief Executive Officer; Mr. John J. DiPietro; Mr. Paul E. Freiman; Dr. Julius R. Krevans, M.D; and Mr. Maxim A. Soulimov, who will hold office until the next Annual Meeting of Stockholders or until their successors are elected; and 2. To ratify the appointment by the Audit Committee and the Board of Directors of Odenberg Ullakko Muranishi & Co. LLP ("OUM") as the independent registered public accounting firm to audit the Company's financial statements for the fiscal year ending December 31, 2006.
Mr. Roger Gale provided an update to the Stockholders in attendance, commenting on recent sales progress in the regions where the Company has approval of its Aware(TM) HIV-1/2 OMT (oral fluid) rapid test, specifically Russia, the Middle East and Africa. When asked about a sales outlook, Mr. Gale acknowledged the difficulty of estimating the results from these early- stage efforts, but indicated that the company is internally forecasting sales in the range of $4.5 million to $4.7 million for 2007. Although the Company does not expect this sales level to result in cash flow breakeven, it is optimistic that sales could exceed this level as several of the initiatives, including high-profile charities, certain private sector groups, and various government agencies could each result in significant sales demand.
Mr. Gale was also optimistic concerning the progress in China, stating "Dr. Ron Mink, Calypte's Chief Science Officer, was invited to attend the Chinese State Food and Drug Administration's ("SFDA") Expert Panel Meeting held on December 4, 2006 in Beijing, China, where the Company made a presentation and answered technical questions before a panel of 10 experts regarding its Aware(TM) HIV-1/2 OMT test. The SFDA has an approval process similar to that of the U.S. FDA and in that respect, this presentation is one of the later parts of the process. Although the panel needs to review the inputs from the meeting as well as other information in reaching its decision on our application, we think the meeting went well and that we satisfactorily addressed all of the panel's questions. We will continue to keep you informed as we prepare for our sales launch in China."
Mr. Gale continued, "Our factory in China has been readied for the production of our Aware(TM) products; equipment is in place and personnel have been trained. When we have completed our GMP approval, we expect to be able to supply both the Chinese and export markets, as sales demand dictates. We have a planned capacity of approximately 10 million tests per month and, through our joint venture, own land for expansion as needed. We are optimistic about our opportunity to serve the Chinese market and other key regions where the HIV/AIDS pandemic is expected to grow over the next several years. We believe our efforts to help identify HIV infections in a simple, quick and non-invasive way will be a part of the solution in helping to bring the disease under control."
About Calypte Biomedical:
Calypte Biomedical Corporation (www.calypte.com) is a U.S.-based healthcare company focused on the development and commercialization of rapid testing products for sexually transmitted diseases such as the Aware(TM) HIV- 1/2 OMT test that are suitable for use at the point of care and at home. Calypte believes there is a significant need for rapid detection of such diseases globally to control their proliferation, particularly in developing countries, which lack the medical infrastructure to support laboratory-based testing. Calypte believes that testing for HIV and other sexually transmitted infectious diseases may make important contributions to public health, and could increase the likelihood of treating those with undetected HIV and other sexually transmitted diseases.
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the Company's ability to obtain additional financing, if and as needed, and access funds from its existing financing arrangements that will allow it to continue its current and future operations and whether demand for its test products in domestic and international markets will generate sufficient revenues to achieve positive cash flow and profitability. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-KSB for the year ended December 31, 2005 and its subsequent filings with the SEC.
Company Contact: Theodore R Gwin, Chief Financial Officer (971) 204-0282 email: tgwin@calypte.com Investor Relations Contact: Tim Clemensen, Rubenstein Investor Relations Phone: (212) 843-9337 email: tclemensen@rubensteinir.com
SOURCE Calypte Biomedical Corporation
Company, Theodore R Gwin, Chief Financial Officer of Calypte Biomedical Corporation, +1-971-204-0282, or tgwin@calypte.com, or Investor Relations, Tim Clemensen of Rubenstein Investor Relations, +1-212-843-9337, or tclemensen@rubensteinir.com
http://www.calypte.com/
If this doesn't open your eyes... nothing will!
From the L.A. Times
1. 40% of all workers in L.A. County ( L.A. County has 10.2 million people) are working for cash and not paying taxes. This was because they are predominantly illegal immigrants, working without a green card.
2. 95% of warrants for murder in Los Angeles are for illegal aliens.
3. 75% of people on the most wanted list in Los Angeles are illegal aliens.
4. Over 2/3 of all births in Los Angeles County are to illegal alien Mexicans on Medi-Cal, whose births were paid for by taxpayers.
5. Nearly 25% of all inmates in California detention centers are Mexican nationals here illegally.
6. Over 300,000 illegal aliens in Los Angeles County are living in garages.
7. The FBI reports half of all gang members in Los Angeles are most likely illegal aliens from south of the border.
8. Nearly 60% of all occupants of HUD properties are illegal.
9. 21 radio stations in L.A. are Spanish speaking.
10. In L.A. County 5.1 million people speak English, 3.9 million speak Spanish. (There are 10.2 million people in L.A. County).
(All the above from the Los Angeles Times)
Less than 2% of illegal aliens are picking our crops, but 29% are on welfare.
Over 70% of the United States' annual population growth (and over 90% of California , Florida , nd New York ) results from immigration.
The cost of immigration to the American taxpayer in 1997 was, (after subtracting taxes immigrants pay), a NET $70 BILLION/year, [Professor Donald Huddle, Rice University ]. The lifetime fiscal impact (taxes paid minus services used) for the average adult Mexican immigrant is a NEGATIVE number.
29% of inmates in federal prisons are illegal aliens.
If they can come to this country to raise Hell and demonstrate by the thousands, WHY can't they take charge over the corruption in their own country?
We are a bunch of fools for letting this continue.
THE U.S. VS MEXICO
On February 15, 1998, the U.S. and Mexican soccer teams met at the Los Angeles Coliseum.
The crowd was overwhelmingly pro-Mexican even though most lived in this country. They booed during the National Anthem and U.S. flags were held upside down. As the match progressed, supporters of the U.S. team were insulted, pelted with projectiles, punched and spat upon. Beer and trash were thrown at the U.S. players before and after the match.
The coach of the U.S. team, Steve Sampson said, "This was the most painful experience I have ever had in this profession."
Did you know that immigrants from Mexico and other non-European countries can come to this country and get preferences in jobs, education, and government contracts. It's called affirmative action or racial privilege. The Emperor of Japan or the President of Mexico could migrate here and immediately be eligible for special rights unavailable for Americans of European descent.
Corporate America has signed on to the idea that minorities and third world immigrants should get special, privileged status. Some examples are Exxon, Texaco, Merrill Lynch, Boeing, Paine Weber, Starbucks and many more.
DID YOU KNOW?
Did you know ... that Mexico regularly intercedes on the side of the defense in criminal cases involving Mexican nationals?
Did you know ... that Mexico has NEVER extradited a Mexican national accused of murder in the U.S. in spite of agreements to do so? According to the L.A. Times, Orange County , California is home to 275 gangs with 17,000 members, 98% of which are Mexican and Asian. How's your county doing?
According to a New York Times article dated May 19, 1994, 20 years after the great influx of legal immigrants from Southeast Asia, 30% are still on welfare compared to 8% of households nationwide.
A Wall Street Journal editorial dated December 5, 1994 quotes law enforcement officials as stating that Asian mobsters are the "greatest criminal challenge the country
faces." Not bad for a group that is still under 5% of the population.
Is education important to you? Here are the words of a teacher who spent over 20 years in the Los Angeles School system. "Imagine teachers in classes containing 30-40 students of widely varying attention spans and motivation, many of whom aren't fluent in English. Educators seek learning materials
likely to reach the majority of students and that means fewer words and math problems and more pictures and multicultural references."
WHEN I WAS YOUNG
I remember hearing about the immigrants that came through Ellis Island . They wanted to learn English. They wanted to breathe free. They wanted to become Americans. Now, far too many immigrants come here with demands. They demand to be taught in their own language. They demand special privileges ... affirmative action. They demand ethnic studies that glorify their culture.
NOW ...
WHY CAN'T WE SEND THEM HOME
HOW CAN YOU HELP?
Send copies of this letter to at least two other people ... 100 would be even better.
RE: NWOG
The Sunday Times December 17, 2006
Gold-plated vodka deal from Russia with love
Mark Paul
A COMPANY from Russia, the motherland of vodka, has agreed a deal to buy a small Irish vodka company that was originally set up by the American-born adventurer and film producer Harry Lee Danziger.
The Moscow-based North-West Oil Group (NWOG) is to buy the boutique Danziger Gold vodka company, which is headquartered in Meath and bottles its products in Waterford. Russian analysts have estimated the price to be about $20m (€15m).
Danziger’s premier product is a premium vodka that is made by adding real gold leaf, and it was tipple of choice at the 2006 music industry Brit awards with a bottle presented to each of the award winners.
The deal was struck in a meeting in London last month between the NWOG boss Ernest Malyshev, Nick Danziger, the renowned photo-journalist and son of the now deceased Harry Danziger, and Stephen Duffy, a friend of the Danziger family and a business consultant who drove the development of the Irish vodka brand.
“Since Harry’s death last year, Nick has been funding the business. As neither he nor the other major shareholders have any industry experience or indeed interest, they are keen to exit the business,” said Malyshev. The Danziger family will retain 5% of the company.
Malyshev said NWOG would invest heavily in the brand to increase sales up to 12m bottles a year. Danziger Gold currently sells a fraction of that amount, and is available only in duty free outlets around Europe. As well as the gold-infused vodka, it also produces a liqueur version and a single-malt whiskey called John Ireland.
Nick Danziger is famous for his pictures of the wars in Afghanistan and for spending 30 days photographing Tony Blair in the lead-up to the Iraq war.
FYI to all penny stock investors:
Feds Rap Hedge Fund
Liz Moyer, 12.12.06, 7:10 PM ET
Another hedge fund is being taken to task for alleged naked short-selling and insider trading in dozens of unregistered securities.
Gryphon Partners, the $310 million Dallas hedge fund run by Edwin "Bucky" Lyon, is the target of a federal civil lawsuit filed Tuesday by the Securities and Exchange Commission, alleging securities fraud in trading of shares in 35 unregistered securities offerings.
The companies caught up in the alleged scheme are hardly household names: Medis Technologies, Generex Biotechnology, Immune Response and PhotoMedex, to name a few. But that is generally the pattern of many cases involving allegations of manipulative trading.
It is part of the SEC's crack-down on illegal trading in deals known as PIPEs, or private investments in public equities, a popular financing tool used by small companies. Regulators have alleged all kinds of abuses related to PIPE deals, including insider trading and naked short-selling.
In September, former New York hedge fund manager Hilary Shane was indicted on five counts of securities fraud for naked short-selling and insider trading in connection with a PIPE transaction for Maryland-based CompuDyne. Shane pleaded not guilty. She had already settled a civil case with the SEC in May and paid a $1.4 million fine.
The CompuDyne case is still active, as are regulatory probes into dozens of other PIPE transactions in the last six years.
In Gryphon's case, the SEC says the illegal trading between 2001 and 2004 resulted in $6.5 million in "ill-gotten" gains. The suit, filed in U.S. District Court in Manhattan, names Lyon, the firm, and several of its funds.
Christopher Clark, an attorney at LeBoeuf Lamb Greene & MacRae who represents Gryphon, says there are a number of factual errors in the complaint and that the claims aren't supported. "We look forward to addressing the allegations in court and being fully vindicated."
The type of PIPE transactions involved in the Gryphon case were pretty simple. Investors receive restricted shares, typically at a price that is below the current market price of the company. The shares can't be traded until the restriction is lifted, which comes after the issuer has an effective registration statement, a process that takes up to 120 days. The discount to the market price compensates the PIPE investors for waiting.
PIPE investors can hedge their investments by selling short the company's shares in the open market before the registration statement is effective. But to do a short sale, a trader has to properly borrow the shares before selling them, and the trader can't use the PIPE shares.
With very small companies that have limited shares issued and available to borrow, PIPE investors that want to fully hedge their investments have to limit their PIPE deals to share amounts they know can be covered with real borrowed shares. This puts a damper on the amount to be gained from PIPE investing, for those who play by the rules.
But, as the SEC has found increasingly lately, there are plenty of traders who seem willing to ignore those rules. Gryphon sold short shares of the companies in the PIPE deals, only it did so without borrowing them, a practice called naked short-selling, according to the SEC. The trading took place in Canada. Once the registration was effective, the fund used the shares issued to cover its short positions, which would also be illegal under federal securities laws.
What's more, the firm made these short sales even after agreeing not to sell, transfer or dispose of the PIPE shares, in essence lying to the companies involved in the PIPE deals as an inducement to get them to go ahead with them, the SEC says.
Gryphon allegedly used a number of deceptive trading tactics to carry out this scheme, including wash-sales, in which trades are made among affiliated parties but are designed to look like they are happening in the open market. The company is also accused of pre-arranged trades and matched orders, making it appear as though it was covering its short position with open market shares when they were not.
And it traded using non-public information about the deals, the SEC says, even though the firm's lawyers told it not to trade in advance of the public announcement.
Does anyone think the hedgies have been working SLJB?
Feds Rap Hedge Fund
Liz Moyer, 12.12.06, 7:10 PM ET
Another hedge fund is being taken to task for alleged naked short-selling and insider trading in dozens of unregistered securities.
Gryphon Partners, the $310 million Dallas hedge fund run by Edwin "Bucky" Lyon, is the target of a federal civil lawsuit filed Tuesday by the Securities and Exchange Commission, alleging securities fraud in trading of shares in 35 unregistered securities offerings.
The companies caught up in the alleged scheme are hardly household names: Medis Technologies, Generex Biotechnology, Immune Response and PhotoMedex, to name a few. But that is generally the pattern of many cases involving allegations of manipulative trading.
It is part of the SEC's crack-down on illegal trading in deals known as PIPEs, or private investments in public equities, a popular financing tool used by small companies. Regulators have alleged all kinds of abuses related to PIPE deals, including insider trading and naked short-selling.
In September, former New York hedge fund manager Hilary Shane was indicted on five counts of securities fraud for naked short-selling and insider trading in connection with a PIPE transaction for Maryland-based CompuDyne. Shane pleaded not guilty. She had already settled a civil case with the SEC in May and paid a $1.4 million fine.
The CompuDyne case is still active, as are regulatory probes into dozens of other PIPE transactions in the last six years.
In Gryphon's case, the SEC says the illegal trading between 2001 and 2004 resulted in $6.5 million in "ill-gotten" gains. The suit, filed in U.S. District Court in Manhattan, names Lyon, the firm, and several of its funds.
Christopher Clark, an attorney at LeBoeuf Lamb Greene & MacRae who represents Gryphon, says there are a number of factual errors in the complaint and that the claims aren't supported. "We look forward to addressing the allegations in court and being fully vindicated."
The type of PIPE transactions involved in the Gryphon case were pretty simple. Investors receive restricted shares, typically at a price that is below the current market price of the company. The shares can't be traded until the restriction is lifted, which comes after the issuer has an effective registration statement, a process that takes up to 120 days. The discount to the market price compensates the PIPE investors for waiting.
PIPE investors can hedge their investments by selling short the company's shares in the open market before the registration statement is effective. But to do a short sale, a trader has to properly borrow the shares before selling them, and the trader can't use the PIPE shares.
With very small companies that have limited shares issued and available to borrow, PIPE investors that want to fully hedge their investments have to limit their PIPE deals to share amounts they know can be covered with real borrowed shares. This puts a damper on the amount to be gained from PIPE investing, for those who play by the rules.
But, as the SEC has found increasingly lately, there are plenty of traders who seem willing to ignore those rules. Gryphon sold short shares of the companies in the PIPE deals, only it did so without borrowing them, a practice called naked short-selling, according to the SEC. The trading took place in Canada. Once the registration was effective, the fund used the shares issued to cover its short positions, which would also be illegal under federal securities laws.
What's more, the firm made these short sales even after agreeing not to sell, transfer or dispose of the PIPE shares, in essence lying to the companies involved in the PIPE deals as an inducement to get them to go ahead with them, the SEC says.
Gryphon allegedly used a number of deceptive trading tactics to carry out this scheme, including wash-sales, in which trades are made among affiliated parties but are designed to look like they are happening in the open market. The company is also accused of pre-arranged trades and matched orders, making it appear as though it was covering its short position with open market shares when they were not.
And it traded using non-public information about the deals, the SEC says, even though the firm's lawyers told it not to trade in advance of the public announcement.
Feds Rap Hedge Fund
Liz Moyer, 12.12.06, 7:10 PM ET
Another hedge fund is being taken to task for alleged naked short-selling and insider trading in dozens of unregistered securities.
Gryphon Partners, the $310 million Dallas hedge fund run by Edwin "Bucky" Lyon, is the target of a federal civil lawsuit filed Tuesday by the Securities and Exchange Commission, alleging securities fraud in trading of shares in 35 unregistered securities offerings.
The companies caught up in the alleged scheme are hardly household names: Medis Technologies, Generex Biotechnology, Immune Response and PhotoMedex, to name a few. But that is generally the pattern of many cases involving allegations of manipulative trading.
It is part of the SEC's crack-down on illegal trading in deals known as PIPEs, or private investments in public equities, a popular financing tool used by small companies. Regulators have alleged all kinds of abuses related to PIPE deals, including insider trading and naked short-selling.
In September, former New York hedge fund manager Hilary Shane was indicted on five counts of securities fraud for naked short-selling and insider trading in connection with a PIPE transaction for Maryland-based CompuDyne. Shane pleaded not guilty. She had already settled a civil case with the SEC in May and paid a $1.4 million fine.
The CompuDyne case is still active, as are regulatory probes into dozens of other PIPE transactions in the last six years.
In Gryphon's case, the SEC says the illegal trading between 2001 and 2004 resulted in $6.5 million in "ill-gotten" gains. The suit, filed in U.S. District Court in Manhattan, names Lyon, the firm, and several of its funds.
Christopher Clark, an attorney at LeBoeuf Lamb Greene & MacRae who represents Gryphon, says there are a number of factual errors in the complaint and that the claims aren't supported. "We look forward to addressing the allegations in court and being fully vindicated."
The type of PIPE transactions involved in the Gryphon case were pretty simple. Investors receive restricted shares, typically at a price that is below the current market price of the company. The shares can't be traded until the restriction is lifted, which comes after the issuer has an effective registration statement, a process that takes up to 120 days. The discount to the market price compensates the PIPE investors for waiting.
PIPE investors can hedge their investments by selling short the company's shares in the open market before the registration statement is effective. But to do a short sale, a trader has to properly borrow the shares before selling them, and the trader can't use the PIPE shares.
With very small companies that have limited shares issued and available to borrow, PIPE investors that want to fully hedge their investments have to limit their PIPE deals to share amounts they know can be covered with real borrowed shares. This puts a damper on the amount to be gained from PIPE investing, for those who play by the rules.
But, as the SEC has found increasingly lately, there are plenty of traders who seem willing to ignore those rules. Gryphon sold short shares of the companies in the PIPE deals, only it did so without borrowing them, a practice called naked short-selling, according to the SEC. The trading took place in Canada. Once the registration was effective, the fund used the shares issued to cover its short positions, which would also be illegal under federal securities laws.
What's more, the firm made these short sales even after agreeing not to sell, transfer or dispose of the PIPE shares, in essence lying to the companies involved in the PIPE deals as an inducement to get them to go ahead with them, the SEC says.
Gryphon allegedly used a number of deceptive trading tactics to carry out this scheme, including wash-sales, in which trades are made among affiliated parties but are designed to look like they are happening in the open market. The company is also accused of pre-arranged trades and matched orders, making it appear as though it was covering its short position with open market shares when they were not.
And it traded using non-public information about the deals, the SEC says, even though the firm's lawyers told it not to trade in advance of the public announcement.
Have they done this to PBLS?
Feds Rap Hedge Fund
Liz Moyer, 12.12.06, 7:10 PM ET
Another hedge fund is being taken to task for alleged naked short-selling and insider trading in dozens of unregistered securities.
Gryphon Partners, the $310 million Dallas hedge fund run by Edwin "Bucky" Lyon, is the target of a federal civil lawsuit filed Tuesday by the Securities and Exchange Commission, alleging securities fraud in trading of shares in 35 unregistered securities offerings.
The companies caught up in the alleged scheme are hardly household names: Medis Technologies, Generex Biotechnology, Immune Response and PhotoMedex, to name a few. But that is generally the pattern of many cases involving allegations of manipulative trading.
It is part of the SEC's crack-down on illegal trading in deals known as PIPEs, or private investments in public equities, a popular financing tool used by small companies. Regulators have alleged all kinds of abuses related to PIPE deals, including insider trading and naked short-selling.
In September, former New York hedge fund manager Hilary Shane was indicted on five counts of securities fraud for naked short-selling and insider trading in connection with a PIPE transaction for Maryland-based CompuDyne. Shane pleaded not guilty. She had already settled a civil case with the SEC in May and paid a $1.4 million fine.
The CompuDyne case is still active, as are regulatory probes into dozens of other PIPE transactions in the last six years.
In Gryphon's case, the SEC says the illegal trading between 2001 and 2004 resulted in $6.5 million in "ill-gotten" gains. The suit, filed in U.S. District Court in Manhattan, names Lyon, the firm, and several of its funds.
Christopher Clark, an attorney at LeBoeuf Lamb Greene & MacRae who represents Gryphon, says there are a number of factual errors in the complaint and that the claims aren't supported. "We look forward to addressing the allegations in court and being fully vindicated."
The type of PIPE transactions involved in the Gryphon case were pretty simple. Investors receive restricted shares, typically at a price that is below the current market price of the company. The shares can't be traded until the restriction is lifted, which comes after the issuer has an effective registration statement, a process that takes up to 120 days. The discount to the market price compensates the PIPE investors for waiting.
PIPE investors can hedge their investments by selling short the company's shares in the open market before the registration statement is effective. But to do a short sale, a trader has to properly borrow the shares before selling them, and the trader can't use the PIPE shares.
With very small companies that have limited shares issued and available to borrow, PIPE investors that want to fully hedge their investments have to limit their PIPE deals to share amounts they know can be covered with real borrowed shares. This puts a damper on the amount to be gained from PIPE investing, for those who play by the rules.
But, as the SEC has found increasingly lately, there are plenty of traders who seem willing to ignore those rules. Gryphon sold short shares of the companies in the PIPE deals, only it did so without borrowing them, a practice called naked short-selling, according to the SEC. The trading took place in Canada. Once the registration was effective, the fund used the shares issued to cover its short positions, which would also be illegal under federal securities laws.
What's more, the firm made these short sales even after agreeing not to sell, transfer or dispose of the PIPE shares, in essence lying to the companies involved in the PIPE deals as an inducement to get them to go ahead with them, the SEC says.
Gryphon allegedly used a number of deceptive trading tactics to carry out this scheme, including wash-sales, in which trades are made among affiliated parties but are designed to look like they are happening in the open market. The company is also accused of pre-arranged trades and matched orders, making it appear as though it was covering its short position with open market shares when they were not.
And it traded using non-public information about the deals, the SEC says, even though the firm's lawyers told it not to trade in advance of the public announcement.
Have the hedge funds done it to AURC also? According to some of you they have.
Feds Rap Hedge Fund
Liz Moyer, 12.12.06, 7:10 PM ET
Another hedge fund is being taken to task for alleged naked short-selling and insider trading in dozens of unregistered securities.
Gryphon Partners, the $310 million Dallas hedge fund run by Edwin "Bucky" Lyon, is the target of a federal civil lawsuit filed Tuesday by the Securities and Exchange Commission, alleging securities fraud in trading of shares in 35 unregistered securities offerings.
The companies caught up in the alleged scheme are hardly household names: Medis Technologies, Generex Biotechnology, Immune Response and PhotoMedex, to name a few. But that is generally the pattern of many cases involving allegations of manipulative trading.
It is part of the SEC's crack-down on illegal trading in deals known as PIPEs, or private investments in public equities, a popular financing tool used by small companies. Regulators have alleged all kinds of abuses related to PIPE deals, including insider trading and naked short-selling.
In September, former New York hedge fund manager Hilary Shane was indicted on five counts of securities fraud for naked short-selling and insider trading in connection with a PIPE transaction for Maryland-based CompuDyne. Shane pleaded not guilty. She had already settled a civil case with the SEC in May and paid a $1.4 million fine.
The CompuDyne case is still active, as are regulatory probes into dozens of other PIPE transactions in the last six years.
In Gryphon's case, the SEC says the illegal trading between 2001 and 2004 resulted in $6.5 million in "ill-gotten" gains. The suit, filed in U.S. District Court in Manhattan, names Lyon, the firm, and several of its funds.
Christopher Clark, an attorney at LeBoeuf Lamb Greene & MacRae who represents Gryphon, says there are a number of factual errors in the complaint and that the claims aren't supported. "We look forward to addressing the allegations in court and being fully vindicated."
The type of PIPE transactions involved in the Gryphon case were pretty simple. Investors receive restricted shares, typically at a price that is below the current market price of the company. The shares can't be traded until the restriction is lifted, which comes after the issuer has an effective registration statement, a process that takes up to 120 days. The discount to the market price compensates the PIPE investors for waiting.
PIPE investors can hedge their investments by selling short the company's shares in the open market before the registration statement is effective. But to do a short sale, a trader has to properly borrow the shares before selling them, and the trader can't use the PIPE shares.
With very small companies that have limited shares issued and available to borrow, PIPE investors that want to fully hedge their investments have to limit their PIPE deals to share amounts they know can be covered with real borrowed shares. This puts a damper on the amount to be gained from PIPE investing, for those who play by the rules.
But, as the SEC has found increasingly lately, there are plenty of traders who seem willing to ignore those rules. Gryphon sold short shares of the companies in the PIPE deals, only it did so without borrowing them, a practice called naked short-selling, according to the SEC. The trading took place in Canada. Once the registration was effective, the fund used the shares issued to cover its short positions, which would also be illegal under federal securities laws.
What's more, the firm made these short sales even after agreeing not to sell, transfer or dispose of the PIPE shares, in essence lying to the companies involved in the PIPE deals as an inducement to get them to go ahead with them, the SEC says.
Gryphon allegedly used a number of deceptive trading tactics to carry out this scheme, including wash-sales, in which trades are made among affiliated parties but are designed to look like they are happening in the open market. The company is also accused of pre-arranged trades and matched orders, making it appear as though it was covering its short position with open market shares when they were not.
And it traded using non-public information about the deals, the SEC says, even though the firm's lawyers told it not to trade in advance of the public announcement.
Feds Rap Hedge Fund
Liz Moyer, 12.12.06, 7:10 PM ET
Another hedge fund is being taken to task for alleged naked short-selling and insider trading in dozens of unregistered securities.
Gryphon Partners, the $310 million Dallas hedge fund run by Edwin "Bucky" Lyon, is the target of a federal civil lawsuit filed Tuesday by the Securities and Exchange Commission, alleging securities fraud in trading of shares in 35 unregistered securities offerings.
The companies caught up in the alleged scheme are hardly household names: Medis Technologies, Generex Biotechnology, Immune Response and PhotoMedex, to name a few. But that is generally the pattern of many cases involving allegations of manipulative trading.
It is part of the SEC's crack-down on illegal trading in deals known as PIPEs, or private investments in public equities, a popular financing tool used by small companies. Regulators have alleged all kinds of abuses related to PIPE deals, including insider trading and naked short-selling.
In September, former New York hedge fund manager Hilary Shane was indicted on five counts of securities fraud for naked short-selling and insider trading in connection with a PIPE transaction for Maryland-based CompuDyne. Shane pleaded not guilty. She had already settled a civil case with the SEC in May and paid a $1.4 million fine.
The CompuDyne case is still active, as are regulatory probes into dozens of other PIPE transactions in the last six years.
In Gryphon's case, the SEC says the illegal trading between 2001 and 2004 resulted in $6.5 million in "ill-gotten" gains. The suit, filed in U.S. District Court in Manhattan, names Lyon, the firm, and several of its funds.
Christopher Clark, an attorney at LeBoeuf Lamb Greene & MacRae who represents Gryphon, says there are a number of factual errors in the complaint and that the claims aren't supported. "We look forward to addressing the allegations in court and being fully vindicated."
The type of PIPE transactions involved in the Gryphon case were pretty simple. Investors receive restricted shares, typically at a price that is below the current market price of the company. The shares can't be traded until the restriction is lifted, which comes after the issuer has an effective registration statement, a process that takes up to 120 days. The discount to the market price compensates the PIPE investors for waiting.
PIPE investors can hedge their investments by selling short the company's shares in the open market before the registration statement is effective. But to do a short sale, a trader has to properly borrow the shares before selling them, and the trader can't use the PIPE shares.
With very small companies that have limited shares issued and available to borrow, PIPE investors that want to fully hedge their investments have to limit their PIPE deals to share amounts they know can be covered with real borrowed shares. This puts a damper on the amount to be gained from PIPE investing, for those who play by the rules.
But, as the SEC has found increasingly lately, there are plenty of traders who seem willing to ignore those rules. Gryphon sold short shares of the companies in the PIPE deals, only it did so without borrowing them, a practice called naked short-selling, according to the SEC. The trading took place in Canada. Once the registration was effective, the fund used the shares issued to cover its short positions, which would also be illegal under federal securities laws.
What's more, the firm made these short sales even after agreeing not to sell, transfer or dispose of the PIPE shares, in essence lying to the companies involved in the PIPE deals as an inducement to get them to go ahead with them, the SEC says.
Gryphon allegedly used a number of deceptive trading tactics to carry out this scheme, including wash-sales, in which trades are made among affiliated parties but are designed to look like they are happening in the open market. The company is also accused of pre-arranged trades and matched orders, making it appear as though it was covering its short position with open market shares when they were not.
And it traded using non-public information about the deals, the SEC says, even though the firm's lawyers told it not to trade in advance of the public announcement.
kruy, you can also tell what type of person (fisty,etc) is by his past vulgar aliases.
December 14, 2006
1,000 dead mallards puzzle Idaho vets
More than 1,000 mallards have mysteriously died at Land Creek Springs, about 15 miles southeast of Burley near the town of Oakley.
Officials do not suspect it's avian flu, said Mark Drew, wildlife veterinarian for the Idaho Department of Fish and Game, but they are testing for it as a precaution.
"It's very, very unlikely to be avian influenza," Drew said. "We're not strongly considering it as a cause. It's on the list, but it's far down on the list."
A fungal or bacterial infection is the most likely cause of the deaths, he said.
"My leaning right now is we have a fungal infection."
Veterinarians in Boise have found the lung tissue of the ducks to be full of white and yellowish bacterial abscesses.
They also found hemorrhaging around the heart, symptoms that are consistent with infections.
Various tests to determine the exact cause are expected back later this week. The die-off is isolated and in a very small area, and no other dead ducks have been reported in adjacent areas.
"My best hunch now is it's something happening locally," Drew said.
The ducks may have gotten an infection from moldy grain or some other food, Drew said, but it's difficult to say for sure because of the mobility of ducks.
"The challenge is finding the source," he said.
A fungal infection is not contagious between ducks, but a bacterial infection could be, Drew said.
Neither would affect humans, but as a precaution, F&G is warning hunters not to consume ducks killed at the spring.
A hunter found and reported dead ducks Friday. F&G conservation officers found 10 dead ducks near the spring and along the stream's edge. When officers returned to the area Sunday, they found more than 500 dead ducks.
By Tuesday afternoon, 1,000 mallards had died.
Drew said the dead ducks were otherwise in good condition, which led him to believe they died quickly, possibly within 48 hours.
F&G crews have removed the dead ducks from the area so they don't create a health hazard and so F&G will know if the die-off continues.
Officials at F&G, the U.S. Fish and Wildlife Service, Bureau of Homeland Security, Department of Environmental Quality, Department of Agriculture, and South Central Health Department are working together to determine the cause.
"Tissue and water samples have been collected by local, state and federal investigators, and we are currently running tests," said Dave Parrish, regional supervisor for the Magic Valley.
Employees from the Department of Agriculture and Department of Environmental Quality have sent intestinal tract and water samples to University of Idaho and Washington State University laboratories to screen for pesticides known to harm birds.
Anyone who finds more dead waterfowl should call any of the agencies listed.
The die-off is not likely to affect the overall or Idaho mallard population. Drew said a thousand mallards is a "very, very small part" of the Snake River duck population.
Contact reporter Roger Phillips at rphillips@idahostatesman.com or 373-6615.
December 4, 2006
Hot Issue — MRI and Implantable Devices
By Beth W. Orenstein
Radiology Today
Vol. 7 No. 24 P. 8
Researchers are investigating whether some pacemakers and cardioverter defribrillators are safe for use in MRI’s gradient magnetic fields.
More than 3 million Americans have pacemakers to keep their heart beat in regular rhythm or with implantable cardioverter defibrillators (ICDs) to shock their heart should they suffer serious abnormal rhythms.
With the population aging and advances being made in disease detection and prevention, the number of people with such implantable cardiac devices is only going to increase. Experts estimate that at least one half of patients with implantable cardiac devices will eventually have some other medical issues that call for an MRI exam.
“MRI is probably the best imaging modality available today for a lot of different reasons,” says Henry R. Halperin, MD, MA, professor of medicine, radiology, and biomedical engineering at The Johns Hopkins University School of Medicine in Baltimore. “MRI is very useful in diagnosing and managing a large number of diseases, including cancer and stroke.”
The problem is that until recently it was widely accepted that MRI exams and implantable cardiac devices were absolute contraindications. The FDA lists pacemakers and defibrillators as contraindications to MRI procedures and device manufacturers warn against using MRI in patients in whom they have been implanted.
However, physicians at numerous medical centers, including The Johns Hopkins and the Oklahoma Heart Institute, are finding that pacemakers and even ICDs and MRI exams can be acceptable for some patients under certain conditions.
One fear is that the radio frequency (RF) energy emitted by the MRI scanners would heat the wires leading from the pacemaker or ICD to the heart and burn the surrounding tissue. Another concern is that because MRI systems emit electromagnetic fields, they could confuse the electronic implants and cause them to stop working or activate at inappropriate times.
A third concern is that the gradient magnetic fields used in the MRI process may directly stimulate the heart to contract and inadvertently pace the patient’s heart by the MRI process itself.
New Devices
Halperin says it appears that those fears may have been more applicable to earlier pacemakers. In recent years, pacing devices have been made more resistant to electromagnetic energies because of the growing use of wireless phones and other electronic devices. “It turns out that a lot of the same considerations that protect implantable cardiac devices from cell phones also protect them from MRI scans,” he says.
Frank G. Shellock, PhD, FACC, FACSM, director of MRI Studies of Biomimetic MicroElectronic Systems (BMES) Implants at the National Science Foundation, BMES Engineering Research Center, University of Southern California and Institute for Magnetic Resonance, says newer pacemakers have more sophisticated circuitry, making them much less likely to be affected by electromagnetic interference.
As an electrophysiologist, Halperin says he became interested in the dilemma of MRI exams being unsafe for patients with implantable cardiac devices about four or five years ago. He and colleagues at Hopkins began testing devices to see whether they could safely be used in the scanner.
A variety of inpatient and outpatient services at Johns Hopkins Hospital referred patients with pacemakers or ICDs who needed MRI exams and who, for different reasons, had no other imaging alternative.
From February 2003 to September 2005, the researchers, led by Saman Nazarian, MD, scanned 55 patients, 31 who had permanent pacemakers and 24 who had an ICD for at least six weeks. A radiologist with more than 10 years of experience with MRI and a cardiac electrophysiologist were present during all the scans.
During the scans, the pacemakers were reprogrammed and the defibrillator shocking action turned off. As a safety precaution, the researchers also cut the strength of the RF energy in half. The imaging results were useful for all conditions outside the chest and 93% of those involving the heart or upper body, Halperin says.
The researchers found that none of the pacemakers manufactured after 1996 or defibrillators manufactured after 2000 were affected by the scanners.
Since their study was reported in the September 19 issue of Circulation, the researchers have scanned another 50 patients with similar results, Halperin says.
No Blanket Approval
While their research shows some patients with pacemakers and ICDs may be able to undergo MRI scans safely under certain circumstances, Halperin says it should not be seen as a blanket approval for all patients with implantable cardiac devices. He recommends that MRI scans be done only on those patients with the devices that have been tested and proven safe, with physicians who have special training in MRI safety present, and with MRI scanners of the same type and magnetic strength as those used at Johns Hopkins. “Because we haven’t had any problems with the patients we tested so far doesn’t guarantee we won’t have any problems in the future,” Halperin says.
Shellock, who directs the for-profit MRIsafety.com, and colleagues have also been testing pacemakers and ICDs on a device-by-device basis as have other groups. In one study in the American Heart Journal in February, Shellock’s group reported findings from tests on a modern cardiac pacemaker (INSIGNIA 1 PLUS, Model 1298 and FINELINE II, Model 4471, pacing leads; Guidant Corporation, St. Paul, Minn.) in vitro at 1.5 Tesla; they found only minor magnetic field interactions and no safety risks. Another article is pending publication in the Journal of Cardiovascular Magnetic Resonance pertaining to pacemakers and ICDs from St. Jude Medical, which is headquartered in St. Paul.
Tricky Study Conditions
Shellock, like Halperin, says the findings of these studies can be applied only to specific pacemakers and the MRI conditions used in their investigations.
Emanuel Kanal, MD, FACR, FISMRM, director of Magnetic Resonance Services and professor of radiology and neuroradiology at the University of Pittsburgh Medical Center (UPMC) and chair of the American College of Radiology’s (ACR) MRI Safety Committee, says trying to precisely reproduce the exact conditions under which the pacing device and leads had been tested and found safe may be clinically impossible. “That is one of the major clinical limitations of these studies,” he says. That is also one reason why, Kanal says, many do not agree with the attempt to apply these results to broad clinical settings.
The FDA and the ACR still strongly advise against attempting to routinely scan pacemaker patients in MR scanners regardless of which model may be implanted, Kanal says. “Many potential limitations to the Hopkins studies exist, not the least of which is the fact that there is such substantial variation in the physical layout of how pacing devices and their wires or leads are implanted in patients, which may significantly alter their safety outcomes in MR imaging studies.”
Adequate studies to ensure that no thermal injuries occur with MR scanning of humans with pacemakers are not yet available, Kanal says.
Because of the studies’ limitations, Halperin, Shellock, and Kanal agree it is important to develop a device that is approved for use in the MR environment.
The life span of an ICD is approximately five years while a pacemaker’s is roughly eight years, Halperin says. Approximately 500,000 new devices are implanted in patients every year. “If they started coming out with devices that proved to be MRI-safe today, in 10 years, all devices would be MRI safe.”
Several manufacturers are attempting to develop implantable cardiac devices that would be acceptable for MRI procedures. One of them, Medtronic Inc., based in Minneapolis, says it has developed a pacemaker designed to be acceptable for use with MRI equipment and is seeking FDA approval for the first clinical study of the device.
Tracy McNulty, a spokeswoman for Medtronic’s Cardiac Rhythm Disease Management division, says the device that Medtronic is developing to be acceptable for MRI is being designed from the ground up. “MR safety is not simply a software upgrade to a patient’s currently implanted pacemaker,” she explains. “MR safety would require an entire system [device, leads, and internal components] that has been designed and tested for use in the MR environment.”
Also, McNulty says, the device would have to pass rigorous scientific testing to address the many variables that can impact patient safety before receiving approval.
Although studies such as the one at Johns Hopkins and others in peer-reviewed literature show that some devices are acceptable for MRI, Medtronic’s position on their safety has not changed, McNulty notes. “We do not consider MRI scans to be safe until these devices and leads are specifically designed for use with MRI technology and [we won’t] until they receive the necessary approvals from regulatory authorities,” she says.
Medtronic is interested in developing implantable devices acceptable for MRI procedures because it estimates that 50% to 75% of patients with them could benefit from MRI studies over the lifetime of their devices.
Halperin says the manufacturers of pacemakers and defibrillators “see the handwriting on the wall,” and that “the first company that comes out with an MRI-safe device will have a definite advantage.”
Research is also underway at UPMC on an RF-shielding device that could be used to cover the chest of the patient with a pacemaker while scanning other body parts. The FDA has approved the device to shield anatomic regions such as the arms to decrease certain imaging artifacts, but it has not been approved as a safety device or to isolate implants and devices.
Kanal has tested the RF shield using phantoms and found that it kept the pacemakers’ leads from heating. The researchers are about to start human testing.
Shielding Device
The RF shield, made by MTW Materials of Passaic, N.J., is composed of the same material used in stealth bombers to render them less detectable on radar. It works by safely absorbing and dissipating the RF energy of the MR scanner. If a patient had a pacemaker or ICD, the shield could be wrapped around his or her chest and held in place with a buckle.
Obviously, the drawback of the shield is that it would not allow imaging of the chest. However, Kanal does not believe that would be a problem in the majority of cases. At least 90% of the MRIs performed in the United States today are of the brain, the cervical and lumbar spines, and the major joints (knees and shoulders). So, if this shield for devices and implants from RF energy in the MRI environment is approved, it could prove quite useful, he says.
— Beth W. Orenstein is a freelance medical writer and a regular contributor to Radiology Today. She writes from her home in Northampton, Pa.
--------------------------------------------------------------------------------
New Terminology With Regard to MRI and Implants and Devices
MR Safe: an item that poses no known hazards in all MRI environments. Safe items include nonconducting, nonmagnetic items such as a plastic Petri dish. An item may be determined to be MR Safe by providing a scientifically based rationale rather than test data.
MR Conditional: an item that has been demonstrated to pose no known hazards in a specified MRI environment with specified conditions of use. Field conditions that define the specified MRI environment include static magnetic field strength, spatial gradient, dB/dt (time varying magnetic fields), radio frequency (RF) fields, and specific absorption rate. Additional conditions, including specific configurations of the item, may be required.
For MR Conditional items, the item labeling will include results of testing sufficient to characterize the behavior of the item in the MRI environment. In particular, testing for items that may be placed in the MRI environment should address magnetically induced displacement force and torque and RF heating. Other possible safety issues include but are not limited to thermal injury, induced currents/voltages, electromagnetic compatibility, neurostimulation, acoustic noise, interaction among devices, and the safe functioning of the item and the safe operation of the MR system. Any parameter that affects the safety of the item should be listed and any condition that is known to produce an unsafe condition must be described.
MR Unsafe: an item known to pose hazards in all MRI environments. MR Unsafe items include magnetic items such as a pair of ferromagnetic scissors.
— Source: American Society for Testing and Materials (ASTM) International, Designation: F 2503-05. Standard Practice for Marking Medical Devices and Other Items for Safety in the Magnetic Resonance Environment. ASTM International, 100 Barr Harbor Drive, P.O. Box C700, West Conshohocken, PA 19428. 2005.
This is what Islam is all about-worse than Natzis!
The Amazing Rescue of a Pakistani Teenager
Christians in Pakistan continue to be persecuted for their faith. Many have been forced to work in brick kilns practically serving as slave labor. The following story of Azra Bibi a young Christian girl in Pakistan is both tragic and inspiring.
Azra was forced to work in the brick kilns at the tender age of 7. She had to help her mother just so the family could eat. They also faced the danger of being the only Christians in a Muslim community. But their faith held strong.
One tragic day a Muslim woman began the verbal attacks. Before long others women joined in and Azra’s mom was badly beaten. They were both taken to the brick kiln owner where Azra’s mom was murdered in the most horrific way. Young Azra was devastated.
The brick kiln owner had plans to force Azra to convert to Islam with the intention of marrying her off. But God had other plans. With the help of a courageous local pastor and support from Christians in the US, Azra was miraculously rescued with her debts paid. Plans are now underway to provide training and a small house for this courageous young Christian girl who stood firm in her faith through such difficult trials.
You can learn about and help persecuted Christians like Azra. We cannot let them suffer in silence. If you have not requested your free subscription to The Voice of the Martyrs monthly newsletter please do so now. There is no cost or obligation. And you will learn the truth about today’s persecuted church.
benzdealer; I certainly agree with you about learning to take profits. I took some on SLJB but then turned around and my greed told me to plow them back into the stock. I am now holding hoping for a miracle.
You said you were looking at biotechs and nanotechs. I have been in biotechs for years and nanos for a couple. Both are as risky as any pink imo because they usually take years to develop especially biotechs. For instance if a drug, after years of going through 3 phases of testing, can fail in the end. I,ve had a couple fail phase III after having excellent phase I & II results. I am still holding one I bought in 1987!
I agree both are the future and are fun to follow. GLTY.
Good post 12ring-agree 100%.
Welcome-just me (sometimes) and schmoopy here.
NWOG :)
Last trade on TDA was 1:32 for 50k
Aurus Announces First Gold Shipment for the New Year
Dec 15, 2006 12:10:00 PM
NEW YORK, NY -- (MARKET WIRE) -- 12/15/06 -- AURUS Corp. (PINKSHEETS: AURC) is pleased to announce that it is processing its gold reserves, 2,572,000 troy oz., and is preparing its next gold bullion shipment for January 12 of the coming year. Due to the projected increase in production, arrangements have been made for shipments three times each month. These shipments are made to the district bank according to the directives of the government agency.
The Company has learned that the SEC has implemented the Short Sale Threshold rule on its stock which is the result of excessive naked shorting on its securities. Although the Company regrets that such shorting exists, it is very positive that no further shorting shall be allowed to affect the positive developments ahead.
About Aurus Corporation
Aurus Corporation is a publicly traded mining holding company with several precious metal properties with over 5 million ounces in gold reserves, trading under the ticker symbol AURC on the US Pinksheets market. Aurus seeks to continue acquire proven gold and other precious metal reserves in Russia and other emerging counties and operate its mines through joint ventures and/or partnerships.
Contact:
Gerald Parkin
Vice-President
Aurus Corporation
gparkin@auruscorp.com
514-798-5454
www.auruscorp.com
Aurus Announces First Gold Shipment for the New Year
Dec 15, 2006 12:10:00 PM
NEW YORK, NY -- (MARKET WIRE) -- 12/15/06 -- AURUS Corp. (PINKSHEETS: AURC) is pleased to announce that it is processing its gold reserves, 2,572,000 troy oz., and is preparing its next gold bullion shipment for January 12 of the coming year. Due to the projected increase in production, arrangements have been made for shipments three times each month. These shipments are made to the district bank according to the directives of the government agency.
The Company has learned that the SEC has implemented the Short Sale Threshold rule on its stock which is the result of excessive naked shorting on its securities. Although the Company regrets that such shorting exists, it is very positive that no further shorting shall be allowed to affect the positive developments ahead.
About Aurus Corporation
Aurus Corporation is a publicly traded mining holding company with several precious metal properties with over 5 million ounces in gold reserves, trading under the ticker symbol AURC on the US Pinksheets market. Aurus seeks to continue acquire proven gold and other precious metal reserves in Russia and other emerging counties and operate its mines through joint ventures and/or partnerships.
Contact:
Gerald Parkin
Vice-President
Aurus Corporation
gparkin@auruscorp.com
514-798-5454
www.auruscorp.com
Uh, Tuslog, you arent calling them lying shysters are you,lol?
A PR by tomorrow noon,12/15/06, date certain.
Signed,
Peaturd
North-West Oil Group Wins Bid for Oil/Gas Deposit
1:20p ET December 14, 2006 (Market Wire)
North-West Oil Group (PINKSHEETS: NWOG) (FRANKFURT: CXIA) is pleased to announce that it has won the bid to purchase the reserves of Lugovskoe located in the oil-rich region of Saratov. The deposits cover an area of 11.6 km2. These reserves include 2,547,700 barrels of category C-1 oil and 13,000,000 cubic meters of gas.
The president, Mr. Malyshev, adds, "The deposit includes the required license for a period of 20 years and once the deal is completed extraction can commence in February 2007."
About North-West Oil Group (formerly Nord Oil International)
North-West Oil Group is a non-reporting, publicly traded Oil & Gas company trading under the ticker symbol NWOG on the U.S. Pinksheets market as well as on the Frankfurt Exchange under symbol CXIA. The company presently produces over 120,000 Metric Tons of crude oil yearly.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
Image Available: http://www.marketwire.com/mw/frame_mw?attachid=390232 Image Available: http://www.marketwire.com/mw/frame_mw?attachid=390244 Image Available: http://www.marketwire.com/mw/frame_mw?attachid=390237
Contact: Contact: Maria Romanova North-West Oil Group Tel: +7 495 621 1115 E-Mail: maria@szng.ru Web: http://www.szng.ru
SOURCE: North-West Oil Group
mailto:maria@szng.ru http://www.szng.ru
Both of them were put in for "general annoyance" which was a blessing.
Did anyone ask them where the $2.17 pps went??
BIPH Biophan Releases Positive Animal Study on MYO-VAD(TM)
Business Wire - December 14, 2006 8:33 AM (EDT)
Data Indicates Promise for Treatment of Heart Failure
ROCHESTER, N.Y., Dec 14, 2006 (BUSINESS WIRE) -- Biophan Technologies, Inc. (OTCBB: BIPH; FWB: BTN), a developer of next-generation biomedical technology, in conjunction with MYOTECH, LLC, recently presented results of animal studies that indicate the potential of the MYO-VAD cardiac support system to significantly improve the treatment of heart failure. This devastating disease currently has no cure and affects an estimated 5,000,000 Americans each year.
Heart failure is a progressive condition that involves the heart re-shaping, or "remodeling", into a less effective blood pump. This occurs after the heart has been damaged by any disease or condition that puts extra stress on the heart's muscle or deprives it of blood. High blood pressure, coronary artery disease and heart attacks are typical causes. For example, within 6 years of a recognized heart attack 22% of men and 46% of women will be disabled with heart failure, according to the American Heart Association.
The animal study presented at the recent Cleveland Clinic symposium on heart failure suggests that the MYO-VAD can significantly improve the ability of failing hearts to pump blood, while simultaneously reducing the stress on the heart that accounts for the vicious, progressive cycle of heart failure.
Researchers found that key biomarkers of heart failure increased in animal hearts with induced heart damage, but decreased in animals whose damaged hearts were supported with the MYO-VAD. Investigators concluded that the device "can significantly augment the failing heart while reducing myocardial stress," and that the device "can provide adequate hemodynamic support while favorably altering the maladaptive pathophysiology of heart failure."
According to the American Heart Association, 550,000 new cases of heart failure are diagnosed annually in the U.S. and an estimated 15 million new cases are reported yearly worldwide. Direct and indirect costs of heart failure in the U.S. in 2006 have been estimated at $29 billion.
"Heart failure is most commonly treated with pharmaceuticals, but this approach is ineffective and heart failure remains the number one killer and the most costly condition for the U.S. health care system," said Jeffrey Helfer, President of Biophan's Cardiovascular Division.
According to Mr. Helfer, "The MYO-VAD technology has already demonstrated its ability to support suddenly failing hearts (such as in a heart attack). By favorably altering the progression of heart failure that follows, we believe these results indicate potential for the MYO-VAD to treat a much wider range of patient conditions."
The scientific presentation can be found on the company website at www.biophan.com/myovad_results1206
About the MYO-VAD
The MYO-VAD can be implanted on an arrested or weak heart in approximately three minutes, restoring cardiac output. It consists of a flexible polymer cup that fits around the heart, compressing and expanding both ventricles. Because it does not come into contact with circulating blood, the MYO-VAD promises to eliminate the serious and potentially fatal complications of clotting and stroke, bleeding, and infection that plague all other Ventricular Assist Devices (VADs).
Due to its technically simple installation and removal requirements, anticipated lower rates of patient complications, and lower device cost, the MYO-VAD is expected to provide a significant reduction in the cost of treating heart failure patients. This promises to extend the physician's ability to treat heart failure and help save thousands of lives.
About Biophan
Biophan is dedicated to providing technologies that offer innovative and competitive advantages to the medical device industry. The Company licenses its technologies which improve the MRI safety and image compatibility of medical devices to leading device manufacturers. In addition, the Company is commercializing the MYOTECH MYO-VAD(TM), a new, cardiac support system which has significant potential to improve the treatment of many forms of heart disease. Biophan is traded on the OTC market under the symbol BIPH, and is also listed on the Frankfurt Stock Exchange under the symbol BTN. For more information on Biophan, please visit our website at www.biophan.com.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements included in this press release may constitute forward-looking statements within the meaning of applicable securities laws. These statements reflect what Biophan anticipates, expects, or believes may happen in the future. Biophan's actual results could differ materially from the outcome or circumstance expressed or implied by such forward-looking statements as a result of a variety of factors including, but not limited to: Biophan's ability to develop its technologies; the approval of Biophan's patent applications; the successful implementation of Biophan's research and development programs; the ability of Biophan to demonstrate the effectiveness of its technology; the acceptance by the market of Biophan's technology and products incorporating such technology; the ability of Biophan to effectively negotiate and enter into contracts with medical device manufacturers for the licensing of Biophan's technology; competition; the ability of Biophan to raise capital to fund its operating and research and development activities until it generates revenues sufficient to do so; and the timing of projects and trends in future operating performance, as well as other factors expressed from time to time in Biophan's periodic filings with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with Biophan's periodic filings with the SEC, which are incorporated herein by reference. The forward-looking statements contained herein are made only as of the date of this press release, and Biophan undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
SOURCE: Biophan Technologies, Inc.
The Investor Relations Group, Inc.
Investors:
Daniel Berg/James Carbonara, 212-825-3210
or
Media:
Janet Vasquez/Lynn E. Granito, 212-825-3210
Copyright Business Wire 2006
BIPH Biophan Releases Positive Animal Study on MYO-VAD(TM)
Business Wire - December 14, 2006 8:33 AM (EDT)
Data Indicates Promise for Treatment of Heart Failure
ROCHESTER, N.Y., Dec 14, 2006 (BUSINESS WIRE) -- Biophan Technologies, Inc. (OTCBB: BIPH; FWB: BTN), a developer of next-generation biomedical technology, in conjunction with MYOTECH, LLC, recently presented results of animal studies that indicate the potential of the MYO-VAD cardiac support system to significantly improve the treatment of heart failure. This devastating disease currently has no cure and affects an estimated 5,000,000 Americans each year.
Heart failure is a progressive condition that involves the heart re-shaping, or "remodeling", into a less effective blood pump. This occurs after the heart has been damaged by any disease or condition that puts extra stress on the heart's muscle or deprives it of blood. High blood pressure, coronary artery disease and heart attacks are typical causes. For example, within 6 years of a recognized heart attack 22% of men and 46% of women will be disabled with heart failure, according to the American Heart Association.
The animal study presented at the recent Cleveland Clinic symposium on heart failure suggests that the MYO-VAD can significantly improve the ability of failing hearts to pump blood, while simultaneously reducing the stress on the heart that accounts for the vicious, progressive cycle of heart failure.
Researchers found that key biomarkers of heart failure increased in animal hearts with induced heart damage, but decreased in animals whose damaged hearts were supported with the MYO-VAD. Investigators concluded that the device "can significantly augment the failing heart while reducing myocardial stress," and that the device "can provide adequate hemodynamic support while favorably altering the maladaptive pathophysiology of heart failure."
According to the American Heart Association, 550,000 new cases of heart failure are diagnosed annually in the U.S. and an estimated 15 million new cases are reported yearly worldwide. Direct and indirect costs of heart failure in the U.S. in 2006 have been estimated at $29 billion.
"Heart failure is most commonly treated with pharmaceuticals, but this approach is ineffective and heart failure remains the number one killer and the most costly condition for the U.S. health care system," said Jeffrey Helfer, President of Biophan's Cardiovascular Division.
According to Mr. Helfer, "The MYO-VAD technology has already demonstrated its ability to support suddenly failing hearts (such as in a heart attack). By favorably altering the progression of heart failure that follows, we believe these results indicate potential for the MYO-VAD to treat a much wider range of patient conditions."
The scientific presentation can be found on the company website at www.biophan.com/myovad_results1206
About the MYO-VAD
The MYO-VAD can be implanted on an arrested or weak heart in approximately three minutes, restoring cardiac output. It consists of a flexible polymer cup that fits around the heart, compressing and expanding both ventricles. Because it does not come into contact with circulating blood, the MYO-VAD promises to eliminate the serious and potentially fatal complications of clotting and stroke, bleeding, and infection that plague all other Ventricular Assist Devices (VADs).
Due to its technically simple installation and removal requirements, anticipated lower rates of patient complications, and lower device cost, the MYO-VAD is expected to provide a significant reduction in the cost of treating heart failure patients. This promises to extend the physician's ability to treat heart failure and help save thousands of lives.
About Biophan
Biophan is dedicated to providing technologies that offer innovative and competitive advantages to the medical device industry. The Company licenses its technologies which improve the MRI safety and image compatibility of medical devices to leading device manufacturers. In addition, the Company is commercializing the MYOTECH MYO-VAD(TM), a new, cardiac support system which has significant potential to improve the treatment of many forms of heart disease. Biophan is traded on the OTC market under the symbol BIPH, and is also listed on the Frankfurt Stock Exchange under the symbol BTN. For more information on Biophan, please visit our website at www.biophan.com.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements included in this press release may constitute forward-looking statements within the meaning of applicable securities laws. These statements reflect what Biophan anticipates, expects, or believes may happen in the future. Biophan's actual results could differ materially from the outcome or circumstance expressed or implied by such forward-looking statements as a result of a variety of factors including, but not limited to: Biophan's ability to develop its technologies; the approval of Biophan's patent applications; the successful implementation of Biophan's research and development programs; the ability of Biophan to demonstrate the effectiveness of its technology; the acceptance by the market of Biophan's technology and products incorporating such technology; the ability of Biophan to effectively negotiate and enter into contracts with medical device manufacturers for the licensing of Biophan's technology; competition; the ability of Biophan to raise capital to fund its operating and research and development activities until it generates revenues sufficient to do so; and the timing of projects and trends in future operating performance, as well as other factors expressed from time to time in Biophan's periodic filings with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with Biophan's periodic filings with the SEC, which are incorporated herein by reference. The forward-looking statements contained herein are made only as of the date of this press release, and Biophan undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
SOURCE: Biophan Technologies, Inc.
The Investor Relations Group, Inc.
Investors:
Daniel Berg/James Carbonara, 212-825-3210
or
Media:
Janet Vasquez/Lynn E. Granito, 212-825-3210
Copyright Business Wire 2006
Am I the only one getting dozens of emails a day from the spamming/scamming stock "faxblaster" basta#$@? I get 3-4 from the same stock symbol sent from different addresses. I forward them all to spam@uce.gov and enforcement@sec.gov but dont know what happens after that.
I also send the lying/scamming drug emails to webcomplaints@ora.fda.gov
Thats the way I read it but seems like there is a lot of confusion over on the AURC board also.
I thought so brent but notice some bashers are already "downing" it,lol.
NEW YORK, NY -- (MARKET WIRE) -- 12/13/06 -- Aurus Corp. (PINKSHEETS: AURC) is announcing that it will be granting a dividend to its shareholders.
The president stated that the low cost of mining rare earth minerals renders superior net revenues, permitting the Company to pay dividends to its shareholders.
Since production is now commencing on the Krong site, the initial dividend shall be in shares while future dividends shall provide for cash payments.
Aurus Corp. announces that it shall give each of its shareholders on record as of January 30, 2007 a premium of one share for every ten shares held in the Company.
Fedor Dovgan, its president adds, ''We are most pleased to give our shareholders the first of many dividends provided by mining results.''
About Aurus Corporation
Aurus Corporation is a publicly traded mining holding company with several precious metal properties with over 5 million ounces in gold reserves, trading under the ticker symbol AURC on the US Pinksheets market. Aurus seeks to continue acquire proven gold and other precious metal reserves in Russia and other emerging counties and operate its mines through joint ventures and/or partnerships.
Contact:
Gerald Parkin
Vice-President
Aurus Corporation
gparkin@auruscorp.com
514-798-5454
www.auruscorp.com
Me. I usually just lurk but try to post a PR here now and then.
Perhaps snips was banned bacause he contributed to the "millions" of useless and redundant posts on this board each day.
MFIC hit new 52 week hi yesterday and profit taking today makes it a good buy esp since Taglich raised target to $2.80.
By: funddumbmental
12 Dec 2006, 09:20 AM EST
Msg. 9436 of 9452
Jump to msg. #
Taglich raises target to $2.80!
He really had no choice at the stock met his price target - early!
Still a very lowball number vs other firms that John follows like the money losing low sales Daxor (DEX) with a $25 target.
I predict John will be raising his MFIC price target again in January!
http://www.taglichbrothers.com/equityuniverse/companies/mficcorp/mficcorp.asp
I would appreciate anyone telling me what this PR means,lol?