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LLEG .0007 Laidlaw Engages The Babcock & Wilcox Company to Work on Boiler Conversion to Biomass Fuel for Berlin, NH Project
Jul 17, 2007 11:19:00 AM
Copyright Business Wire 2007
NEW YORK--(BUSINESS WIRE)--
Laidlaw Energy Group, Inc. (Ticker Symbol "LLEG") announced today that its affiliate, Laidlaw Berlin, LLC, has entered into an exclusive arrangement with The Babcock & Wilcox Company to provide its services in connection with the conversion of a Babcock & Wilcox boiler located in Berlin, New Hampshire to biomass fuel. The boiler is located at the former Fraser Paper Mill which Laidlaw has proposed converting to a state-of-the-art 60 - 70 megawatt biomass-energy facility. The large Babcock & Wilcox recovery boiler was installed at the mill in 1993 at a cost of nearly $100 million and is believed to be highly suitable to conversion for biomass-energy purposes. Babcock & Wilcox has successfully completed several conversions of similar boilers to biomass fuel in recent the past.
The first stage of the engagement will be for Babcock & Wilcox to conduct a thorough engineering review in order to confirm the capabilities of the boiler and define the work that will be needed to complete the conversion. Once this is completed the parties expect to enter into a definitive agreement pursuant to which Babcock & Wilcox will perform such work.
Commenting on the engagement of Babcock & Wilcox, Laidlaw Energy President & CEO Michael B. Bartoszek stated, "We are happy to have B&W on board for the exciting project. We had discussions with several different boiler companies about this engagement, but at the end of the day we felt most comfortable with B&W's overall capabilities, including their financial resources, prior successful track record with this type of project, and the fact that they are the original manufacturer of this boiler and are highly familiar with it."
The Berlin biomass-energy facility is currently expected to commence operations in late 2008 or early 2009.
About Laidlaw Energy Group
Laidlaw Energy Group (LLEG) is engaged in the development of independent power plants that generate electricity from renewable resources. LLEG's mission is to build and manage a profitable portfolio of renewable energy facilities through the development of new facilities and acquisition of existing facilities. LLEG is headquartered in New York, New York. For more information on LLEG, please visit our website at www.NYENRG.com.
About The Babcock & Wilcox Company
The Babcock & Wilcox Company is a 140 year old company that is engaged in supplying innovative solutions to meet the world's growing energy needs. With power generation systems and equipment found in more than 800 utilities and industries in over 90 countries. The Babcock & Wilcox Company is an operating unit of McDermott International (NYSE: MDR). For further information see www.Babcock.com.
This communication contains statements expressing expectations of future events and/or results which may include, without limitation, statements concerning anticipated financial performance, business prospects, technological developments, potential markets, new products, research and development activities and similar matters. Such statements constitute forward-looking statements made pursuant to the Safe Harbor provision of the Private Securities Litigation Reform Act of 1995. All statements based on future expectations rather than historical facts are forward-looking statements that involve a number of risks and uncertainties, and LLEG cannot provide assurance that such statements will prove to be correct. LLEG undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Source: Laidlaw Energy Group, Inc.
----------------------------------------------
Laidlaw Energy Group
Inc.
Michael B. Bartoszek
212-480-9884
info@LaidlawEnergy.com
HSTM 3.25 HealthStream to Broadcast Its Second Quarter 2007 Earnings Conference Call Live on the Internet
Jul 17, 2007 9:15:00 AM
Copyright Business Wire 2007
NASHVILLE, Tenn.--(BUSINESS WIRE)--
HealthStream (NASDAQ: HSTM), a leading provider of learning and research solutions for the healthcare industry, announced today that it will provide an online Web simulcast of its second quarter 2007 earnings conference call on Wednesday, July 25, 2007. The Company's results for the second quarter ended June 30, 2007 will be released after the close of the market on Tuesday, July 24, 2007.
The live broadcast of HealthStream's conference call will begin at 9:00 a.m. Eastern Time on July 25, 2007. To listen to the conference, please dial 877-407-0782 (no confirmation code needed) if you are calling within the domestic U.S. If you are an international caller, please dial 201-689-8567 (no confirmation code needed). The conference may also be accessed by going to http://www.healthstream.com/Investors/index.htm for the simultaneous Webcast of the call, which will subsequently be available for replay.
About HealthStream
HealthStream (NASDAQ: HSTM) is a leading provider of learning and research solutions for the healthcare industry, transforming insight into action to deliver outcomes-based results for healthcare organizations. Through its research products, healthcare executives gain valuable insight about patients' experiences, workforce challenges, physician relations, and community perceptions of their services. Through HealthStream's learning solutions--which are used by approximately 1.4 million hospital-based healthcare professionals--healthcare organizations create safer environments for patients, increase clinical competencies of its workforce, and facilitate the rapid transfer of the latest knowledge and technologies. Based in Nashville, Tennessee, HealthStream has three satellite offices. For more information about HealthStream's learning and research solutions, visit www.healthstream.com or call us at 800-933-9293.
This press release contains forward-looking statements that involve risks and uncertainties regarding HealthStream. Investors are cautioned that such results or events predicted in these statements may differ materially from actual future events or results. This information has been, or in the future may be, included in reliance on the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such results or events predicted in these statements may differ materially from actual future events or results. The Company's preliminary financial results, while presented with numerical specificity, are forward-looking statements which are based on a variety of assumptions regarding the Company's operating performance that may not be realized, and which are subject to significant uncertainties and potential contingencies associated with the Company's financial and accounting procedures and other matters referenced from time to time in the Company's filings with the Securities and Exchange Commission. Consequently, such forward-looking information should not be regarded as a representation or warranty by the Company that such projections will be realized.
Source: HealthStream
----------------------------------------------
HealthStream
Mollie Elizabeth Condra
615-301-3237
mollie.condra@healthstream.com
SGMO 9.30 Sangamo Announces Sale of $30 Million of Common Stock to Institutional Investors
Jul 17, 2007 9:05:00 AM
RICHMOND, Calif., July 17 /PRNewswire-FirstCall/ -- Sangamo BioSciences, Inc. (Nasdaq: SGMO) announced today that it has obtained commitments from a select group of institutional investors to purchase an aggregate of 3,278,689 shares of common stock, at a price of $9.15 per share, for gross proceeds of approximately $30.0 million, before fees and expenses. The closing is expected to take place on Friday, July 20, 2007, subject to the satisfaction of customary closing conditions. JMP Securities and Piper Jaffray & Co. acted as joint lead placement agents, with Leerink Swann & Company and Janney Montgomery Scott acting as co-placement agents for this offering.
The shares are being offered pursuant to the Company's registration statement on Form S-3 declared effective by the Securities and Exchange Commission on May 9, 2007. This press release shall not constitute an offer to sell nor the solicitation of an offer to buy, nor shall there be any sales of these securities in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Sangamo
Sangamo BioSciences, Inc. is focused on the research and development of novel DNA-binding proteins for therapeutic gene regulation and modification. The most advanced ZFP Therapeutic(TM) development program is currently in Phase 2 clinical trials for evaluation of safety and clinical effect in patients with diabetic neuropathy. Phase 1 clinical trials are ongoing to evaluate a ZFP Therapeutic for peripheral artery disease. Other therapeutic development programs are focused on HIV/AIDS, neuropathic pain, cancer, nerve regeneration, ischemic heart disease and monogenic diseases. Sangamo's core competencies enable the engineering of a class of DNA-binding proteins known as zinc finger DNA-binding proteins (ZFPs). By engineering ZFPs that recognize a specific DNA sequence Sangamo has created ZFP transcription factors (ZFP TF(TM)) that can control gene expression and, consequently, cell function. Sangamo is also developing sequence-specific ZFP Nucleases (ZFN(TM)) for therapeutic gene modification as a treatment for a variety of monogenic diseases, such as X-linked SCID and hemophilia, and for infectious diseases, such as HIV. Sangamo has established several Enabling Technology Agreements with companies to apply its ZFP Technology to enhance the production of protein pharmaceuticals. For more information about Sangamo, visit the company's web site at http://www.sangamo.com/.
This press release may contain forward-looking statements based on Sangamo's current expectations. These forward-looking statements include, without limitation, references to amount of proceeds expected to be received from the closing of the offering, the research and development of novel ZFP TFs and ZFNs and therapeutic applications of Sangamo's ZFP technology platform. Actual results may differ materially from these forward-looking statements due to a number of factors, including technological challenges, Sangamo's ability to develop commercially viable products and technological developments by our competitors. See the company's SEC filings, and in particular, the risk factors described in the company's Annual Report on Form 10-K and its most recent Form 10-Q and Form 8-K. Sangamo assumes no obligation to update the forward-looking information contained in this press release.
SOURCE Sangamo BioSciences, Inc.
----------------------------------------------
Elizabeth Wolffe
Ph.D.
of Sangamo BioSciences
Inc.
+1-510-970-6000
ext. 271
ewolffe@sangamo.com
CFW 6.48 Cano Petroleum, Inc. Announces Fiscal Year-End Reserves Increase of 47% over prior year-end; Operational Update; and Capital Budget of $60 Million for 2008
Jul 17, 2007 9:03:00 AM
Copyright Business Wire 2007
FORT WORTH, Texas--(BUSINESS WIRE)--
Cano Petroleum, Inc. (AMEX:CFW) today announced that estimated proved oil and natural gas reserves increased to 66.7 million barrels of oil equivalent (BOE) as of June 30, 2007, which is 47% higher as compared to 45.4 million as of June 30, 2006. Oil reserves accounted for 64% of total reserves. Proved developed reserves represented 13% of total reserves. Based upon the ending June price of $70.47 for oil per barrel and natural gas of $6.40 per mcf, the pre-tax PV-10 is $1.14 Billion. To reflect sensitivity to prices, based on $60.00 per barrel of oil and $6.00 per mcf, the calculation of PV-10 would result in the same volume of reserves with a value of $925 million.
During Fiscal Year 2007 Cano's expected capital expenditures were $51.4 million including acquisitions which results in an all-in finding and development cost for the year of approximately $2.30 per BOE. The acquisition of Cato resulted in a $1.04 per barrel of proved reserves while the internal additions and revisions were $3.15 per barrel.
Summary of Changes in Proved Reserves MBOE
----------------------------------------------------------------------
Reserves at June 30, 2006 45,400
Estimated Production Adjustments (500)
Sale of Rich Valley Field (600)
Acquisitions and Development 22,400
--------
Reserves at June 30, 2007 66,700
Cano's proved reserve estimates were prepared by Forrest Garb & Associates, independent petroleum engineers. Finding and development cost was calculated by dividing the sum of development and acquisition cost by the sum of reserve extensions, discoveries, improved recoveries, acquisition and revisions; future capital cost to develop proved undeveloped reserves was not included.
Operational Update
Panhandle Field: Cano has commenced water injection into the Cockrell Ranch Unit Waterflood at the Panhandle field. We currently have water moving into the Brown Dolomite formation at 3,500 Barrels Per Day in five injection wells. We expect to achieve a rate of 18,200 barrels of water injected per day ("BWIPD") in 26 injection wells, which comprise Phase I of the flood, by August 1, 2007. Full injection into the remaining 44 injection wells is anticipated by September 15, 2007 at a rate of 49,000 BWIPD. Preliminary response from the waterflood is anticipated in December, 2007.
Desdemona Field Barnett Shale: One horizontal drilling rig has been contracted to execute the FY 2008 drilling program in the Barnett Shale. The rig will spud the first of 24 wells for the FY 2008 campaign on July 16th. Due to the severe storms, which resulted in significant flooding in the area, two main compressor sites and 5 wells were off-line from June 16th thru June 30th. This resulted in approximately 1.0 MMCFPD of gross gas production being curtailed. Through June 17th, we were averaging over 1.9 MMCFPD gross gas production from our 15 vertical wells and four horizontal wells. It is anticipated that the required equipment repairs and well re-works will not be completed until late-July.
Nowata Field ASP Project: The ASP Plant, associated equipment and supplies are scheduled to be delivered to the Nowata field site between July 16th and July 24th. Testing of the completed facility is scheduled for July 25th thru July 30th and full operations are anticipated to commence on August 1st. The response from the Nowata ASP Pilot is expected in February, 2008.
Production Update:
Our June production was adversely impacted by the heavy rains and electrical storms in Texas and Oklahoma. High water on the roads and in the field limited access for maintenance, repairs and well work. Power was interrupted in the Panhandle field resulting in a loss of 50 net BOEPD from June 25th thru June 30th. Pantwist experienced similar power outages from June 23rd thru June 30th for a loss of 20 net BOEPD. At Nowata, production was down 20 net BOEPD from June 20th thru June 30th. As mentioned above, Desdemona experienced a net loss of 138 BOEPD from June 16th thru June 30th. The resulting total production loss is estimated at 2,066 BOE or 69 BOEPD for June. As a result, quarterly production is expected to be a 3% increase of the previous quarter adjusted for the Rich Valley sale.
2008 Capital Budget
Cano plans to spend $60 million on its capital projects during Fiscal Year 2008 and plans to drill 120 net wells. The Panhandle water flood and projects in the Desdemona field are expected to receive the majority of the budget, followed by extensive RTP's and infill drilling at the Cato field. The table below details the plans.
Capital Projects $MM Net Wells Drilled
----------------------------------------------------------------------
Corsicana 0.4 -
Davenport 0.5 -
Desdemona Waterflood 3.3 11
Desdemona Barnett 21.9 24
Nowata 3.6 -
Panhandle 20.3 53
Pantwist - -
Cato Field 10.0 32
----------------------------
Total 60.0 120
ABOUT CANO PETROLEUM:
Cano Petroleum Inc. is an independent Texas-based energy producer with properties in the mid-continent region of the United States. Led by an experienced management team, Cano's primary focus is on increasing domestic production from proven fields using enhanced recovery methods. Cano trades on the American Stock Exchange under the ticker symbol CFW. Additional information is available at www.canopetro.com.
Safe-Harbor Statement -- Except for the historical information contained herein, the matters set forth in this news release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The company intends that all such statements be subject to the "safe-harbor" provisions of those Acts. Many important risks, factors and conditions may cause the company's actual results to differ materially from those discussed in any such forward-looking statement. These risks include, but are not limited to, estimates or forecasts of reserves, estimates or forecasts of production, future commodity prices, exchange rates, interest rates, geological and political risks, drilling risks, product demand, transportation restrictions, the ability of Cano Petroleum, Inc. to obtain additional capital, and other risks and uncertainties described in the company's filings with the Securities and Exchange Commission. The historical results achieved by the company are not necessarily indicative of its future prospects. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Cautionary Notes to Investors - The Securities and Exchange Commission (SEC) permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. Investors are urged to also consider closely the disclosures in Cano's Form 10-KSB for the fiscal year ended June 30, 2007 and Cano's Form 10-Q for the fiscal quarter ended March 31, 2007, available from Cano by calling 866-314-2266. These forms also can be obtained from the SEC at www.sec.gov.
Source: Cano Petroleum, Inc.
----------------------------------------------
Cano Petroleum
Inc.
Sam Smith
877-698-0900
Senior Vice President & CFO
ior@canopetro.com
MOVE 4.02 The Great Outdoors: New Homes with Exceptional Backyards
Jul 17, 2007 9:03:00 AM
Copyright Business Wire 2007
LOS ANGELES--(BUSINESS WIRE)--
Outdoor kitchens, super sound systems, inviting fire pits and bubbling fountains are becoming central to today's new home designs as the popularity of home entertainment steps outside. New home outdoor living spaces take backyard barbecues to a new level in this week's Trend Spot http://www.move.com/l/1 from Move, Inc., the leading online network of websites for real estate search, finance, moving and home enthusiasts.
-- Backyard Oasis: Scottsdale, Ariz., Take a refreshing dive into
the expansive pool or gather around the fire pit on a cool
desert evening in this designer backyard at this $1,726,975
home. The four-bedroom and 4.5-bathroom boasts 6,651 sq. ft.
of interior living space as well as a four-car garage to house
your automobiles in style. http://www.move.com/l/8
-- Resort Living: Palm Beach Gardens, Fla., For an elegant and
sophisticated backyard experience, this four-bedroom and
3.5-bathroom home features a pool complete with a bubbling
fountain and spa set within an artfully tiled deck. A covered
patio adds plenty of shade for long afternoon lunches. The
$1,081,975 home also features 3,525 sq. ft. of living space in
addition to a three-car garage. http://www.move.com/l/9
-- Heavenly Desert: Alamogordo, N.M., This $425,748 home features
desert landscaping with an outdoor kitchen as well as mountain
views. The roof jets out beyond the house walls providing
shade and comfort outdoors. The four-bedroom and 2.5-bathroom
has ten-foot ceilings, walk-in closets, upgraded cabinets and
countertops. http://www.move.com/l/11
-- Spa Retreat: Norfolk, Va., Featuring a wrap-around wooden deck
with benches and a state-of-the-art built-in spa and shade
cover, this $495,560 home has four bedrooms, four bathrooms
and 3,812 sq. ft. to spread out. http://www.move.com/l/12
-- Twin Palms: Jupiter, Fla., With palm trees on either side of
the pool and enough patio space to put out multiple lounge
chairs, this home lives up to its $1,338,975 price tag. The
home has four bedrooms, 4.5 bathrooms, 3,997 sq. ft. and a
three-car garage. http://www.move.com/l/10
REALTOR.com(R) and Move.com homes and rentals featured on Move Trend Spot are based on the most comprehensive nationwide database of available properties and their amenities as of July 17, 2007. Additional comparisons and lists showcasing trends in consumer preference, interest and demand for real estate properties are available at http://trends.move.com.
ABOUT MOVE, INC.
Move, Inc. (NASDAQ:MOVE), the leading online network of websites for real estate search, finance, moving and home enthusiasts, is the essential resource for consumers seeking the information and connections they need before, during and after a move. Move, Inc., operates Move.com(TM) (http://www.move.com), a leading destination for information on new homes and rental listings, moving, home and garden and home finance; REALTOR.com(R) (http://www.realtor.com), the official Web site of the National Association of REALTORS(R) offering more than 3 million homes for sale; Welcome Wagon(R) (http://www.welcomewagon.com), the expert in providing new neighbors with comprehensive information about businesses and professionals in their new communities; Moving.com; SeniorHousingNet(TM); TOP PRODUCER(R) Systems; FactoryBuiltHousing.com; and Home Plans. Move, Inc., is based in Westlake Village and employs more than 1600 individuals throughout North America. For more information: http://www.move.com.
Source: Move, Inc.
----------------------------------------------
Move
Inc.
Julie Reynolds
805-557-3080
Julie.reynolds@move.com
or
The Rogers Group
Kristina Levsky
310-552-4137
klevsky@rogerspr.com
SPRT 5.23 Small Business Owners Most Likely to Take Laptop on Vacation; support.com Offers Tips to Avoid Computer Problems
Jul 17, 2007 9:01:00 AM
REDWOOD CITY, Calif., July 17 /PRNewswire-FirstCall/ -- One in five people is now packing a laptop on vacation(i). Small business owners are especially likely to bring their computers on vacation, with 75 percent checking in by phone or e-mail at least once a day while on vacation(ii). In addition, nearly half of small business owners consider downtime a guilty pleasure, forcing nearly one third to check in by phone or e-mail several times a day while on vacation(iii).
"As a small business owner, I bring my computer on vacation out of necessity," said Nancy Sartanowicz, president of Workplace Strategies, LLC in Medford, Mass. "The last thing I want to deal with while on vacation is a computer problem. What's worse, small business owners like myself often don't know where to turn to have their computer problems solved, especially when they're away from home on vacation."
Whether you're taking your computer on vacation out of necessity or enjoyment, encountering computer problems during precious leisure time can be even more annoying than usual. support.com, a remote tech support service which provides consumers with Instant Technology Relief(SM) from their frustrating computer issues, offers tips to people who want to spend more time enjoying their vacation and less time dealing with computer problems.
support.com recommends consumers and small business owners alike take simple steps to work smart and stay safe:
1. Take precautions against hackers when accessing wireless networks or
"hot spots" on the road. Make sure your anti-virus software is
up-to-date and check that you have a firewall installed on your
computer. As an extra precaution, password-protect sensitive files and
turn off "file sharing" on your computer.
2. When you do have downtime to work, make sure your laptop battery
doesn't give out on you. To extend the life of your battery, power
down all non-essential functions, such as DVD players and wireless
network cards. In addition, most laptops have other power saving
functions which can be accessed by simply double-clicking on the
battery icon on the toolbar.
3. Make the best use of your valuable vacation time by focusing only on
the e-mail that must be addressed immediately. Set up message filters
in your e-mail system so that you can more easily separate and identify
messages that can't wait from those that can. Consider setting up an
automated e-mail message that shows you're out of town and will be
responding only to urgent messages.
4. Make sure your computer is performing its best to help avoid problems.
Give your computer a tune-up by defragmenting your hard drive, getting
rid of any spyware or malware, and deleting any programs you don't use
which might lengthen boot-up time or decrease performance.
"Some people take their computers on vacation so that they can have more leisure time to surf the Web or communicate with family and friends. For others, such as small business owners, it's a choice between taking their computer on vacation and not having a vacation at all," said Eleanor Lacey, vice president of corporate development responsible for support.com. "No matter the case, the last thing that anyone wants to do is deal with a computer problem while on vacation. These steps can help ensure that they can enjoy as much of their leisure time as possible."
About SupportSoft and support.com
SupportSoft (Nasdaq: SPRT) is a leading provider of technology problem resolution software and services. The Company's solutions reduce technology support costs, improve customer satisfaction and enable new revenue streams for companies reaching 50 million users worldwide. The Company has expanded its offerings and now provides Instant Technology Relief to frustrating technology problems directly to consumers at http://www.support.com/. For more information about the Company and its corporate offerings, visit supportsoft.com; for Instant Technology Relief(SM) to consumer technology problems, visit http://www.support.com/ or dial 1-800-PC-SUPPORT.
(i) AP-Ipsos poll, June 1, 2007
(ii) OPEN from American Express Small Business Monitor survey, April
2007
(iii) OPEN from American Express Small Business Monitor survey, April
2007
SOURCE support.com
----------------------------------------------
Jennifer Massaro of SupportSoft
Inc.
+1-650-556-8596
jennifer.massaro@supportsoft.com
or Stephanie Rice of Ruder Finn
+1-310-882-4008
rices@ruderfinn.com
for SupportSoft
LTXX 5.62 LTX Announces Multiple X-Series Test Systems Purchased by Unisem
Test System Selection Based on the X-Series' Broad Capabilities and Low Cost of Test
Jul 17, 2007 9:00:00 AM
Copyright Business Wire 2007
NORWOOD, Mass.--(BUSINESS WIRE)--
LTX Corporation (Nasdaq: LTXX), a leading provider of semiconductor test solutions, today announced that Unisem (M) Berhad has purchased multiple X-Series CX test systems. Unisem, a leading semiconductor packaging and test services company in Malaysia, will utilize the X-Series as one of its primary platforms for comprehensive production testing of RF wireless and consumer devices.
"To achieve our vision as the leading Malaysian company providing total semiconductor packaging and test services globally, it is vital that we offer best-in-class production test solutions for our customers," noted Gan Lim, vice president of test operations for Unisem. "The LTX X-Series is recognized as the de facto standard for testing a broad range of RF device requirements. Not only does the X-Series address our aggressive cost of test targets, but it also provides the breadth of capabilities necessary to test a wide range of devices on a single test platform. This scalability is critical as we grow our business and broaden our suite of packaging and test services."
ABOUT UNISEM
Unisem (M) Berhad, a leading semiconductor packaging and test services company in Malaysia, has its main packaging and testing facilities in Ipoh, Malaysia with additional packaging and testing facilities in Wales, United Kingdom, and in Chengdu, PRC. Unisem offers an integrated suite of packaging and test services for semiconductor companies such as wafer probe, a wide range of leadframe and substrate IC packaging, high-end RF and mix-signal test, tape & reel and drop-shipment services. Additional information can be found at www.unisem.com.my.
ABOUT LTX
LTX Corporation (Nasdaq: LTXX) is a leading supplier of test solutions for the global semiconductor industry. LTX's X-Series, the industry's most comprehensive family of production-proven, compatible test systems, delivers a scalable solution that provides the right test performance and the right cost of test. Combined with LTX's industry-leading applications engineering and customer service teams, the X-Series enables companies to accelerate their time to market, optimize test economics and stay ahead of the technology curve. Additional information can be found at www.ltx.com.
LTX is a registered trademark and enVision is a trademark of LTX Corporation.
All other trademarks are the property of their respective owners.
www.ltx.com
Source: LTX Corporation
----------------------------------------------
LTX Corporation
Mark Gallenberger
781-467-5417
mark_gallenberger@ltx.com
SDTH 5.82 ShengdaTech Begins Production of New NPCC Lines
Adds 40,000 Metric Tons Capacity
Jul 17, 2007 8:30:00 AM
TAIAN CITY, China, July 17 /Xinhua-PRNewswire-FirstCall/ -- ShengdaTech Inc. ("ShengdaTech" or "The Company") (Nasdaq: SDTH) a leading manufacturer of nano precipitated calcium carbonate (NPCC) and coal-based chemical products in the People's Republic of China ("PRC"), today announced it completed the addition of 40,000 metric tons of annual NPCC capacity at its factory in Xianyang City, Shanxi Province.
ShengdaTech added two new lines, each with 20,000 metric tons of annual capacity, to its factory at Shengda Industrial Park. The new lines utilize the Company's advanced cost-efficient membrane diffusion technology which lowers production costs of NPCC particles by 5-7% compared to the traditional ultra-gravity method. The membrane diffusion method also provides better quality NPCC particles, providing a broader range of market applications. ShengdaTech is currently developing a number of new NPCC applications in various plastics.
ShengdaTech invested approximately $10 million for the equipment, which increases annual capacity at the factory to 100,000 metric tons and total annual capacity to 130,000 metric tons. The Company expects the new lines to operate at full capacity by November 2007. Assuming full utilization and using current prices after value added tax for NPCC products, the additional 40,000 metric tons of production capacity is equivalent to approximately $15 million in potential additional revenues to ShengdaTech.
"We are very pleased with our progress to date in expanding our capacity. We opened our new factory at Shengda Industrial Park with 60,000 metric tons of capacity in the fall of 2006 and quickly ramped up to full capacity by December 2006. Our new factory is located close to high quality limestone and uses cost-efficient membrane diffusion technology which have the combined effect of reducing our production costs of NPCC particles by 30%," commented Mr. Xiangzhi Chen, CEO of ShengdaTech. "We are excited about opportunity for our NPCC products as we develop new applications and expand into overseas markets. We expect NPCC to continue contributing to our revenue growth and gross margin in the future, in fact, as previously announced, our plans call for another expansion of NPCC capacity as early as December of this year."
About ShengdaTech, Inc.
ShengdaTech is engaged in the business of manufacturing, marketing and selling a variety of nano-precipitated calcium carbonate ("NPCC") products and coal-based chemicals for use in various applications. The Company converts limestone into NPCC using its proprietary technology. The unique chemical and physical attributes make NPCC a valuable ingredient in tires, paints, polyvinyl chloride ("PVC") building materials and other products. NPCC enhances the durability of many products by increased strength, heat resistance, and dimension stabilization. The Company is also engaged in the manufacture and sale of coal-based chemical products namely ammonium bicarbonate, liquid ammonia, melamine and methanol. The Company markets and sells its coal-based products mainly for chemical fertilizers and raw materials in the production of organic and inorganic chemical products, including formaldehyde and pesticides.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which may include, but are not limited to, such factors as unanticipated changes in product demand especially in the tire industry, changes in composition of tires, ability to attract new customers, ability to increase our product's applications, ability of our customers to sell products, cost of raw material, downturns in the Chinese economy, and other information detailed from time to time in the Company's filings and future filings with the United States Securities and Exchange Commission.
For more information, please contact:
Crocker Coulson, President
CCG Elite
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Leslie Richardson, Financial Writer
CCG Elite
Tel: +1-646-213-1915
Email: leslie.richardson@ccgir.com
SOURCE ShengdaTech Inc.
----------------------------------------------
Crocker Coulson
President
+1-646-213-1915
or crocker.coulson@ccgir.com
or Leslie Richardson
Financial Writer
+1-646-213-1915
or leslie.richardson@ccgir.com
both of CCG Elite
for ShengdaTech
WGNR 1.09 WEGENER Receives Patent for Streamlining Receiver Authorization Process
By Accessing Data in CA Stream, IRDs Determine if Decryption Can be Used Immediately
Jul 17, 2007 8:30:00 AM
DULUTH, Ga., July 17 /PRNewswire-FirstCall/ -- Wegener Corporation (Nasdaq: WGNR), a leading provider of equipment for television, audio and data distribution networks worldwide, today announced it has been granted a U.S. patent for technology used in conditional access systems for decrypting data within a satellite broadcast system.
Patent # 7,206,411, titled the "rapid decryption of data by key synchronization and indexing," covers the quick restoration of IRD (Integrated Receiver/Decoder) decryption authorization after the loss of a satellite signal. In large media networks of 1000+ satellite receivers, traditional methods of receiver re-authorization can take up to two minutes of valuable commercial on-air time. WEGENER's patented solution significantly reduces the re-authorization time following a loss of signal incident or a deliberate switch to another satellite carrier. By accessing special data within the conditional access stream itself, WEGENER IRDs can determine if the decryption keys are up to date and thus may be used immediately rather than waiting for updated keys.
"For operators of ad-supported programming, literally every second counts. Programmers can lose significant revenue for ads that are missed and must be replayed," stated Ned L. Mountain, President and COO of WEGENER. "WEGENER's latest patent showcases how we have translated an ever-present concern into a technology for our customers to maximize their on-air time."
ABOUT WEGENER
WEGENER (Wegener Communications, Inc.), a wholly-owned subsidiary of Wegener Corporation (Nasdaq: WGNR), is an international provider of digital solutions for video, audio, and IP data networks. Applications include IP data delivery, broadcast television, cable television, radio networks, business television, distance education, business music and financial information distribution. COMPEL, WEGENER's patented network control system, provides networks with unparalleled ability to regionalize programming and commercials. COMPEL network control capability is integrated into WEGENER digital satellite receivers. WEGENER can be reached at +1.770.814.4000 or on the World Wide Web at http://www.wegener.com.
COMPEL, MEDIAPLAN, ENVOY, UNITY, and iPUMP are trademarks of WEGENER. All Rights Reserved.
This news release may contain forward-looking statements within the meaning of applicable securities laws, including the Private Securities Litigation Reform Act of 1995, and the Company intends that such forward- looking statements are subject to the safe harbors created thereby. Forward- looking statements may be identified by words such as "believes," "expects," "projects," "plans," "anticipates," and similar expressions, and include, for example, statements relating to expectations regarding future sales, income and cash flows. Forward-looking statements are based upon the Company's current expectations and assumptions, which are subject to a number of risks and uncertainties including, but not limited to: customer acceptance and effectiveness of recently introduced products, development of additional business for the Company's digital video and audio transmission product lines, effectiveness of the sales organization, the successful development and introduction of new products in the future, delays in the conversion by private and broadcast networks to next generation digital broadcast equipment, acceptance by various networks of standards for digital broadcasting, the Company's liquidity position and capital resources, general market conditions which may not improve during fiscal year 2007 and beyond, and success of the Company's research and development efforts aimed at developing new products. Discussion of these and other risks and uncertainties are provided in detail in the Company's periodic filings with the SEC, including the Company's most recent Annual Report on Form 10-K. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results. Forward-looking statements speak only as of the date the statement was made. The Company does not undertake any obligation to update any forward-looking statements.
SOURCE WEGENER (Wegener Communications, Inc.)
----------------------------------------------
Robin Hoffman of Pipeline Communications
+1-973-746-6970
robinh@pipecomm.com; or Troy Woodbury
Investor Relations of WEGENER
+1-770-814-4000
Fax
+1-770-623-9648
info@wegener.com
EFOI 6.27 Energy Focus EFO-ICE(TM) Provides Energy Savings Over LEDs and Fluorescents, Study Shows
Southern California Edison Analysis Demonstrates Significant Energy Savings and Improved Merchandising with Fiber Optic Lighting
Jul 17, 2007 8:30:00 AM
SOLON, Ohio, July 17 /PRNewswire-FirstCall/ -- Energy Focus, Inc. (Nasdaq: EFOI), formerly Fiberstars, Inc. (Nasdaq: FBST), a global leader in energy efficient lighting, today announced the final results of Southern California Edison's comparative field study of EFO-ICE(TM), Energy Focus' fiber optic lighting system for refrigerated supermarket display cases, versus state-of-the-art fluorescent lighting and LEDs. Results showed that in a 3-door case, Energy Focus EFO-ICE saved 2,048kWh over T-8 fluorescent lighting versus only 662kWh for LEDs while providing comparable luminance. The results were presented by Scott Mitchell, Engineer for the Southern California Edison Refrigeration and Thermal Test Center, at the annual meeting of the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) on June 26, 2007.
"We are excited about Southern California Edison's findings confirming that EFO-ICE is by far the most efficient refrigerated display case lighting system available consuming about 1/4 the energy of the fluorescent system and only 1/3 the energy of the LED system when you consider the compressor energy savings as well as the direct lighting energy savings," said Energy Focus CEO John Davenport. "As retailers look for ways to reduce costs and improve margins, Energy Focus provides a lighting alternative that serves both ends. According to EPA's ENERGY STAR Program, a 10 percent reduction in energy costs for the average supermarket can boost profit margins by as much as 6 percent and earnings per share by nearly 7 percent."
Energy Focus products can be found in leading supermarket chains around the country including, Whole Foods, Giant, Albertsons, Safeway and Harris Teeter among others.
About Energy Focus, Inc.
Energy Focus, Inc. (Nasdaq: EFOI) is the leading supplier of fiber optic lighting and the world's only supplier of EFO(R), a lighting technology which is more efficient than conventional electric lamps. Energy Focus products are designed, manufactured and marketed for the commercial lighting, sign and swimming pool, and spa markets. Energy Focus fiber optic lighting provides energy savings, aesthetic, safety and maintenance cost benefits over conventional lighting. Customers include supermarket chains, retail stores, fast food restaurants, theme parks and casinos, hotels, swimming pool builders, spa manufacturers and many others. Company headquarters are located at 32000 Aurora Rd., Solon, OH 44139. The Company has additional offices in Pleasanton, CA, United Kingdom and Germany. For more information, see http://www.energyfocusinc.com.
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding the goals and business outlook for 2007 and thereafter, future pool market sales, the expected growth of and percentage of the Company to be represented by EFO, expected product development and introductions, and expected overall sales growth and profitability, and expected benefits, revenues. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Actual results may differ materially from the results predicted. Risk factors that could affect the Company's future include, but are not limited to, a slowing of the U.S. and world economy and its effects on Energy Focus' markets, failure to develop marketable products from new technologies, failure of EFO or other new products to meet performance expectations, unanticipated costs of integrating acquisitions into the Energy Focus operation, delays in manufacturing of products, increased competition, other adverse sales and distribution factors and greater than anticipated costs and/or warranty expenses. For more information about potential factors which could affect Energy Focus financial results, please refer to the Company's SEC reports, including its Annual Report on Form 10-K for the year ended December 31, 2006, and its quarterly reports on Form 10-Q. These forward-looking statements speak only as of the date hereof. Energy Focus disclaims any intention or obligation to update or revise any forward-looking statements.
SOURCE Energy Focus, Inc.
----------------------------------------------
Alanna Gino
+1-415-977-1918
alanna@antennagroup.com
or Neil Torres
+1-415-977-1942
neil@antennagroup.com
both of Antenna Group
for Energy Focus
Inc.
SCUR 8.17 Evansville ARC Achieves 99.9 Percent Network Uptime and Low Overhead with Secure Computing's SnapGear Appliances
Network-in-a-Box Solution Improves Secure Communication for Non-Profit Organization
Jul 17, 2007 8:30:00 AM
SAN JOSE, Calif., July 17 /PRNewswire-FirstCall/ -- Secure Computing Corporation (Nasdaq: SCUR), a leading enterprise gateway security company, today announced that Evansville ARC is achieving enjoying near constant network uptime thanks to Secure Computing SnapGear(R) appliances. Dave Gilmour, network administrator for Evansville ARC, estimated that his network users experience 99.9 percent uptime, with zero downtime attributable to the 20 SnapGear devices in use. The reliability of the SnapGear appliances has also kept total cost of ownership low, which is imperative to the not-for-profit organization.
Used in conjunction with thin-client architecture, the SnapGear appliances have made it possible for Evansville ARC's two-person IT team to serve their staff of 200 workers, in addition to several related and partnering organizations. In all, they have networked together more than 600 users at 16 different locations using SnapGear.
"In our years of using SnapGear appliances, we've never had a major problem and we've never had to replace one of them," reported Gilmour. "They're very flexible, very stable, and the price point is good too."
Before installing SnapGear, Evansville ARC had no real network in place. This situation led to poor communication and high duplication of efforts. In addition, it meant that whenever a user had a problem, the IT staff had to physically travel to their location, increasing time and costs and delaying resolution.
With the SnapGear security solution from Secure Computing, Evansville ARC got a complete, plug-and-play "network-in-a-box," serving at-once as a firewall, a VPN gateway, a UTM security appliance, and a complete networking solution. "SnapGear gives our users anytime, anywhere access to vital application and data resources in the network," Gilmour said. The product links users together, enabling them to connect securely to the Internet and corporate LAN, servicing all of their remote network access requirements. It offers complete threat management, with intrusion detection and prevention (IDS/IPS), gateway anti-virus, spam filtering and more -- all from a high- speed, highly-reliable appliance.
SnapGear also uniquely leverages TrustedSource(TM) reputation-based global intelligence, enabling the system to proactively block malicious Web entities and content, such as spam, spyware, viruses, zombies, phishing scams and Trojans, even before the appliance's anti-malware capabilities kick in. "I made the decision to go with the Secure Computing product because of my past experiences," recalled Gilmour. "I've always been impressed by the wide variety of capabilities SnapGear provides, and it does even more than we thought!"
Gilmour also pointed out that the initial price point for the SnapGear appliances was "very attractive," but the fact that the solution is so stable has made it even more valuable in the long run. Evansville ARC has never needed to spend any money on repair or replacement, and insofar as ongoing maintenance, "I only spend an hour or two every few months maintaining the appliances, and that's just upgrading firmware and reviewing the audit logs," said Gilmour.
About SnapGear
SnapGear is the only networking device needed for office PCs to be networked with one another, connect securely to the Internet, connect to the corporate LAN, and service all remote access VPN needs. SnapGear handles it all easily and inexpensively by converging all networking, firewall, intrusion prevention, and remote access requirements into one high-speed, highly reliable appliance. With more than 300,000 appliances in use today, Secure Computing's SnapGear is the complete plug-and-play, network-in-a-box Internet security appliance every small- and medium-sized business needs.
About Secure Computing
Secure Computing (Nasdaq: SCUR), a leading provider of enterprise gateway security, delivers a comprehensive set of solutions that help customers protect their critical Web, email and network assets. Over half the Fortune 50 and Fortune 500 are part of our more than 20,000 global customers in 106 countries, supported by a worldwide network of more than 2,300 partners. The company is headquartered in San Jose, Calif., and has offices worldwide. For more information, see http://www.securecomputing.com.
About Evansville ARC
Evansville ARC is a not-for-profit organization founded by parents of disabled people to promote personal and professional development, employment and independence. Based in Vanderburgh County, Indiana, the ARC serves more than 1,000 children and adults. Its programs include ARC Industries, an assembly, packaging, recycling and distribution facility that employs 200 people with disabilities; an inclusion childcare program known as the Child Life Center; as well as numerous other programs that help the mentally and physically challenged create meaningful connections with their community.
All product names and trademarks are the property of their respective firms.
This press release contains forward-looking statements relating to the anticipated delivery of SnapGear to Evansville ARC and the expected benefits of such relationship, and such statements involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are delays in product development, undetected software errors or bugs, competitive pressures, technical difficulties, changes in customer requirements, general economic conditions and the risk factors detailed from time to time in Secure Computing's periodic reports and registration statements filed with the Securities and Exchange Commission.
CONTACTS:
Ally Zwahlen Paula Dunne
Secure Computing Corporation Contos Dunne Communications LLC
925-288-4175 408-776-1400; 408-893-8750 cell
ally_zwahlen@securecomputing.com paula@contosdunne.com
(Logo: http://www.newscom.com/cgi-bin/prnh/20060808/LATU027LOGO)
SOURCE Secure Computing Corporation
----------------------------------------------
Ally Zwahlen of Secure Computing Corporation
+1-925-288-4175
ally_zwahlen@securecomputing.com; or Paula Dunne of Contos Dunne Communications LLC
+1-408-776-1400
cell
+1-408-893-8750
paula@contosdunne.com
DRRX 4.16 DURECT Reports Positive Results from POSIDUR(TM) Phase IIb Hernia Trial, Triggering $8 million Milestone Payment from Nycomed
Phase IIb Trial Achieves Statistically Significant Reductions in Pain and Total Consumption of Supplemental Opioid Analgesic Medications Versus Placebo
Jul 17, 2007 8:30:00 AM
CUPERTINO, Calif., July 17 /PRNewswire-FirstCall/ -- DURECT Corporation (Nasdaq: DRRX) announced today positive results from a 122 patient Phase IIb clinical trial of POSIDUR(TM) for treatment of post-operative pain in patients undergoing inguinal hernia repair. This Phase IIb trial was designed to be the study upon which DURECT and its collaborator Nycomed would base their decision for advancing POSIDUR into Phase III clinical trials. In the trial, POSIDUR demonstrated statistically significant reductions in pain and total consumption of supplemental opioid analgesic medications versus placebo. These successful results trigger an $8 million milestone payment to be made by Nycomed to DURECT under the parties' collaborative agreement. In preparation for the Phase III program, DURECT has scheduled an end-of-Phase II meeting with the U.S. Food and Drug Administration (FDA).
(LOGO: http://www.newscom.com/cgi-bin/prnh/20020717/DRRXLOGO)
"We believe that the results of our Phase IIb trial support the validity of our POSIDUR product concept of simultaneously relieving pain while reducing opioid consumption," stated James Brown, President and CEO of DURECT Corporation. "Our partnership with Nycomed provides us with financial and development support along with a strong marketing presence to commercialize POSIDUR in Europe and other countries. We intend to market POSIDUR ourselves in the U.S., if approved, thus providing us with a pathway to establishing our own specialty pharmaceutical business."
Phase IIb Inguinal Hernia Trial
Design
The POSIDUR Phase IIb clinical trial was designed to evaluate the tolerability, activity, dose response and pharmacokinetics of POSIDUR in patients undergoing open inguinal hernia repair. The study was conducted in Australia and New Zealand as a multi-center, randomized, double blind, placebo-controlled study in 122 patients. Study patients were randomized into three treatment groups: patients that were treated with POSIDUR 2.5 mL (n=43), POSIDUR 5 mL (n=47) and placebo (n=32). The co-primary efficacy endpoints for the study were Mean Pain Intensity on Movement area under the curve (AUC), a measure of pain over a period of time, 1-72 hours post-surgery, and the proportion of patients requiring supplemental opioid analgesic medication during the study. Secondary efficacy endpoints included Mean Pain Intensity on Movement AUC over the period 1-48 hours post-surgery, mean total consumption of supplemental opioid analgesic medication, and time to first use of supplemental opioid analgesic medication. The threshold for statistical significance was considered to be at the p<0.05 level.
Results
Pain Control
In relation to the co-primary endpoint of pain reduction as measured by Mean Pain Intensity on Movement AUC 1-72 hours post-surgery, the patient group treated with POSIDUR 5 mL reported thirty-one percent (31%) less pain versus placebo (p=0.0033). A thirty-five percent (35%) reduction of pain as measured by Mean Pain Intensity on Movement AUC for the period 1-48 hours post-surgery, a secondary endpoint measure, was reported between the POSIDUR 5 mL treatment group versus placebo (p=0.0007).
Pain Control
Placebo POSIDUR(TM) % Change p-value
5 mL
Mean Pain Intensity
on Movement AUC (a)
1-72 hours 3.60 2.47 -31% 0.0033 (b)
1-48 hours 3.86 2.52 -35% 0.0007 (b)
(a) Normalized AUC based on a numerical ratings scale for pain intensity
of 0-10, with 0 being no pain.
(b) Using ANCOVA model.
Consumption of Supplemental Opioid Analgesic Medication
Fifty-three percent (53%) of the study patients in the POSIDUR 5 mL group took supplemental opioid analgesic medications versus seventy-two percent (72%) of the placebo patients (p=0.0909). Although this positive trend for this co-primary endpoint in favor of the POSIDUR 5 mL group was not statistically significant, both secondary endpoints measuring opioid analgesic medication consumption were met at a statistically significant level. During the periods of 1-24 hours, 24-48 hours and 48-72 hours after surgery, placebo patients consumed approximately 3.5 (p=0.0009), 2.9 (p=0.0190) and 3.6 (p=0.0172) times more supplemental opioid analgesic medications (mean total daily consumption of opioid analgesic medication in morphine equivalents), respectively, than the POSIDUR 5 mL treatment group. In addition, the median time to first use of supplemental opioid analgesic medication after surgery for the placebo patients was 2.7 hours versus >72 hours for the POSIDUR 5 mL treatment group (p=0.0197).
Consumption of Supplemental Opioid Analgesic Medication
Placebo POSIDUR(TM) % Change Ratio (a) p-value
5 mL
Proportion of
Patients Taking
Supplemental Opioid
Analgesic Medications 72% 53% -26% - 0.0909 (b)
Supplemental Opioid
Analgesic Medications
Taken (c)
1-24 hours 9.24 2.64 -71% 3.5 0.0009 (d)
24-48 hours 4.97 1.70 -66% 2.9 0.0190 (d)
48-72 hours 3.20 0.90 -72% 3.6 0.0172 (d)
Median Time to First
Use of Supplemental
Opioid Analgesic
Medication (hours
post-surgery) 2.7 >72.0 - - 0.0197 (e)
(a) Fold difference between Placebo and POSIDUR(TM) 5 mL.
(b) Using Cochran-Mantel-Haenszel test.
(c) Total mean daily consumption in morphine equivalents.
(d) Using ANCOVA model.
(e) Using Log-Rank test for comparison of Kaplan-Meier survival curves.
Dose Finding
POSIDUR administered at the dose of 5 mL showed statistically significant activity relative to placebo whereas POSIDUR administered at 2.5 mL showed a positive trend relative to placebo on certain parameters but the results were not statistically significant. DURECT intends to select POSIDUR 5 mL as the dose to use in the Phase III program.
Safety
The patient groups treated with POSIDUR 5 mL and POSIDUR 2.5 mL showed comparable safety profiles as the patient groups treated with placebo, and the drug administration appeared well tolerated. The side effects commonly observed with opioid medication use were less frequent in the POSIDUR 5 mL and 2.5 mL treatment groups compared to placebo.
Other Exploratory Phase II studies
In addition to the Phase IIb study described above, DURECT has also been conducting smaller exploratory Phase II studies in hernia, shoulder arthroscopy and appendectomy surgeries to evaluate different application techniques, clinical design and conduct as well as other investigational factors. These trials have been conducted in multiple cohorts, generally consisting of approximately 6-21 patients in each treatment group. Hernia and shoulder studies have been completed while an appendectomy study is on-going. In all the exploratory studies, patient groups treated with POSIDUR 5 mL and POSIDUR 2.5 mL showed comparable safety profiles as the patient groups treated with placebo, and the drug administration appeared well tolerated. Some treatment groups from the hernia and shoulder exploratory studies utilizing POSIDUR have shown positive activity as measured by reduction of pain or consumption of supplemental opioid analgesic medication versus placebo, while other treatment groups have not. We are continuing to evaluate these studies to understand the different results observed, and intend to apply our learnings in the design of our Phase III program.
Conference Call Information
DURECT Corporation will be hosting a conference call to discuss this announcement on July 17, 2007 at 11:00 AM Eastern Time / 8:00 AM Pacific Time. To participate in the conference call, please dial in to (800) 254-0499 (domestic) or (408) 960-7131 (international) and request the "DURECT Corporate Event," entry code 5020. Please dial in 10 minutes prior to the scheduled start time. An audio rebroadcast will be available one hour after the conference ends for 24 hours. The replay dial-in number within the US is 1-800-642-1687 (Reservation #: 7221981). The international replay dial-in number is 1-706-645-9291. The conference call is also available live over the Internet at http://www.durect.com.
About POSIDUR
POSIDUR is a long-acting local anesthetic under development by DURECT and Nycomed for the treatment of post-surgical pain. It is intended to be administered during surgery, where it continuously releases therapeutic levels of bupivacaine in a controlled fashion, providing up to 72 hours of uninterrupted local analgesia. POSIDUR's performance is due to DURECT's patented SABER(TM) delivery system, an injectable, biodegradable drug delivery technology.
About the DURECT / NYCOMED Collaboration
In November 2006, DURECT signed a collaboration agreement with Nycomed, a privately-held European pharmaceutical company headquartered in Switzerland, whereby the companies are jointly developing DURECT's POSIDUR post-operative pain relief depot. Under the terms of the agreement, Nycomed paid DURECT an upfront license fee of $14 million; with the payment of the $8 million clinical development milestone described above, DURECT may earn additional milestone payments of up to $180 million due upon achievement of additional defined development, regulatory and sales milestones. The two parties are jointly directing and equally funding a development program for POSIDUR intended to secure regulatory approval in both the U.S. and the European Union (E.U.). DURECT has licensed Nycomed the exclusive commercialization rights to POSIDUR in the E.U. and select other countries. In addition, DURECT will manufacture and supply the product to Nycomed for commercial sale in the territory licensed to Nycomed. Nycomed will pay DURECT blended royalties on sales in the defined territory of 15-40% depending on annual sales, as well as a manufacturing mark-up. DURECT retains full ownership of POSIDUR in the U.S., Canada, Asia and other countries.
About DURECT Corporation
DURECT Corporation is an emerging specialty pharmaceutical company developing pharmaceutical systems based on its proprietary drug delivery platform technologies. The Company currently has a number of late-stage pharmaceutical products in development addressing large markets in pain management, with a number of research programs underway targeting chronic disease and other therapeutic areas. For more information, please visit http://www.durect.com.
DURECT Forward-Looking Statement
The statements in this press release regarding POSIDUR, its potential performance and attributes, our anticipated end-of-Phase II meeting with the FDA and future development plans for POSIDUR and our intended emergence as a specialty pharmaceutical company are forward-looking statements involving risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, Nycomed and our abilities to design, enroll, conduct and complete clinical trials, obtain successful results from such clinical trials, complete the design, development, and manufacturing process development of POSIDUR, obtain regulatory and manufacturing approvals from regulatory agencies, and manufacture and commercialize POSIDUR, as well as marketplace acceptance of POSIDUR. Further information regarding these and other risks is included in DURECT's Form 10-Q dated May 9, 2007 under the heading "Risk Factors."
NOTE: POSIDUR(TM) and SABER(TM) are trademarks of DURECT Corporation. POSIDUR is under development and has not been submitted or approved for commercialization by the FDA or other health authorities.
SOURCE DURECT Corporation
----------------------------------------------
Matthew J. Hogan
Chief Financial Officer of DURECT Corporation
+1-408-777-4936; or media
Jeremiah Hall
Senior Vice President of Feinstein Kean Healthcare
+1-415-677-2700
jeremiah.hall@fkhealth.com
for DURECT Corporation
TIBX 9.15 Sun International Rolls 'High' With TIBCO's SOA Software
TIBCO to Provide IT Backbone and Lay Foundation for the Adoption of an Event-Driven Service-Oriented Architecture
Jul 17, 2007 8:30:00 AM
JOHANNESBURG, South Africa, and LONDON, July 17 /PRNewswire-FirstCall/ -- TIBCO Software Inc. (Nasdaq: TIBX) announced today that Sun International Group, South Africa's leading tourism, leisure and gambling business, has chosen TIBCO's service oriented architecture (SOA) software to help better serve customers and manage growth. Sun International selected TIBCO because of its ability to successfully integrate disparate applications via platform agnostic solutions, and its strong record in the gaming and leisure industry worldwide.
"We have a vast number of customers who use our resorts, luxury hotels, and casinos throughout southern Africa and we recognise the need to do all we can to retain them long term," said Jonathan Evans of Sun International Group. "We therefore turned to TIBCO to help us join up all of our properties, products and services through our currently disparate systems and databases in order to maintain the highest level of customer services. Furthermore, we will be able to leverage the TIBCO SOA software to help us continually develop a new range of products and services that will help draw and retain customers for years to come."
The TIBCO implementation to integrate Sun International's IT system with a single, open SOA platform to manage its business, product portfolio, customer databases, and disparate IT infrastructures, will be in two phases. The first phase uses TIBCO Enterprise Message Service(TM) (EMS) to link-up the Group's widespread properties and bring them all "online", sharing and consolidating databases and supporting Sun International's Most Valued Guest programme. The second phase leverages an SOA to develop and improve customer services and products, allowing Sun International to align its IT with its business objectives so that customer information, products, and services are better managed, leading to strengthened customer relationships.
Ram Menon, executive vice president, Worldwide Marketing, TIBCO, said: "TIBCO's ability to manage immense quantities of customer data in real-time, and match it to the Group's current and future business offerings, will help Sun International significantly enhance the customer experience at any one of its properties. TIBCO's integration and SOA solutions will enable Sun International to manage customer data and relationships so it can respond to -- or, even predict -- the customers' desires, helping to ensure loyalty."
About TIBCO
TIBCO Software Inc. (Nasdaq: TIBX) provides enterprise software that helps companies achieve service-oriented architecture (SOA) and business process management (BPM) success. With over 3,000 customers, TIBCO has given leading organisations around the world better awareness and agility -- what TIBCO calls The Power of Now(R). To learn more, contact TIBCO at +1 650-846-1000 or on the Web at http://www.tibco.com.
TIBCO, TIBCO Enterprise Message Service, The Power of Now, TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.
SOURCE TIBCO Software Inc.
----------------------------------------------
Declan Waters of TIBCO Software
+44 (0) 1628 786 844
dwaters@tibco.com
or Nick Spencer of NSPR
+44 (0) 1628 502 606
nick@nspr.co.uk
for TIBCO
GTCB 1.15 GTC Biotherapeutics Awarded State Training Grant
Jul 17, 2007 8:30:00 AM
Copyright Business Wire 2007
FRAMINGHAM, Mass.--(BUSINESS WIRE)--
GTC Biotherapeutics, Inc. ("GTC", Nasdaq: GTCB) announced today that it has been awarded a $41,000 grant from the Massachusetts Workforce Training Fund. The grant will fund 10 days of skills training in continuous improvement and Six Sigma process improvement to approximately 25 GTC employees in the areas of operations and quality. GTC has partnered with Worcester Polytechnic Institute's Corporate & Professional Education to deliver the five-course Certificate Program.
"We are pleased that Governor Patrick's support for proactive workforce development has resulted in this recognition of the value our technology offers to the future of protein therapeutic development and the role our employees play in continuing our leadership position," stated Gregory Liposky, GTC's Senior Vice President of Operations. "We obtained the first approval of a transgenically produced protein anywhere in the world and we are building on this historic achievement to develop and bring to the market new therapeutic products enabled by this innovative technology. The skills our people will obtain through this program not only add value to our expertise in transgenic production, but also importantly provide a core knowledge base to our employees that is in high demand throughout our industry. The experience and expertise WPI brings to the program makes them a valued partner in development and implementation of this important program. I also thank the quasi-public Commonwealth Corporation in helping GTC win the Workforce Training Fund grant through its Applicant Assistance Program."
"WPI was honored to be chosen to work with GTC on this important initiative," said Sharon Deffely, Director of Corporate & Professional Education. "We have been involved each step of the way - from initial concept, to help in choosing the appropriate projects, to co-reviewing the draft application along with Doug Riikonen from the Commonwealth Corporation, to scheduling the training off site for maximum benefit."
About Massachusetts Workforce Training Fund
The Workforce Training Fund provides businesses and labor organizations with matching grants of up to $250,000 to finance incumbent worker training. Since its inception in 1999, the Workforce Training Fund has awarded 4,136 grants totaling over $150 million to train more than 208,000 Massachusetts workers through its three programs.
About Commonwealth Corporation
Commonwealth Corporation is a quasi-public agency with a 25-year history in workforce development in Massachusetts. Overseen by the Executive Office of Labor and Workforce Development, "CommCorp" helps businesses apply for state training grants through the Applicant Assistance Program, and much more.
About WPI's Corporate & Professional Education
Founded in Worcester MA in 1865, WPI is one of the nation's first universities dedicated to engineering and technology. For over fifty years, WPI's Corporate & Professional Education has been creating custom on-site programs designed to meet the needs of individuals and corporations, with a commitment to providing a rewarding and valuable educational experience.
About GTC Biotherapeutics
GTC Biotherapeutics develops, produces, and commercializes therapeutic proteins through transgenic animal technology. In August 2006, ATryn(R), GTC's recombinant form of human antithrombin, was approved by the European Commission for use in patients with hereditary antithrombin deficiency undergoing surgical procedures. This was the first approval anywhere in the world of a therapeutic protein produced from a transgenic animal. We have developed goats that have the human antithrombin gene linked to a milk-protein promoting gene so that they express this protein in their milk. This transgenic approach provides the opportunity to produce recombinant forms of proteins, such as antithrombin, that are difficult to express in economically viable quantities in conventional production systems.
ATryn(R) is in a Phase III clinical study in preparation for requesting market approval from the U.S. Food and Drug Administration. LEO Pharma A/S, ATryn(R)'s partner in Europe, Canada and the Middle East, has launched the product for the approved indication in Europe and is initiating a Phase II dose ranging study in treating disseminated intravascular coagulation associated with severe sepsis, a market estimated to be $2 to 3 billion in the U.S. In addition, GTC has established a strategic collaboration with LFB Biotechnologies of France to jointly develop recombinant forms of human plasma proteins and monoclonal antibodies. The first program of the collaboration will be to develop recombinant human factor VIIa as a potential treatment for hemophilia in patients with antibodies to other coagulation factors.
In 2006, GTC was granted a patent in the United States through 2021 for the production of any therapeutic protein in the milk of any transgenic mammal. GTC's transgenic production platform is particularly well suited to enabling cost effective development of proteins that are difficult to express in traditional recombinant production systems as well as those that are required in large volumes. Additional information is available on the GTC web site, http://www.gtc-bio.com.
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including without limitation statements regarding completion of the six sigma training and the resulting improvement in skills and capabilities, prospects for clinical development of ATryn(R) as well as the ultimate potential market size in the U.S. Such forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such statements. Factors that may cause such differences include, but are not limited to, the risks and uncertainties discussed in GTC's most recent Annual Report on Form 10-K and its other periodic reports filed with the Securities and Exchange Commission, including the uncertainties associated with conducting clinical studies, and the risks and uncertainties associated with dependence upon the actions of collaboration partners and regulatory agencies. GTC cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this document, and GTC undertakes no obligation to update or revise the statements, except as may be required by law.
Source: GTC Biotherapeutics, Inc.
----------------------------------------------
GTC Biotherapeutics
Inc.
Thomas E. Newberry
508-370-5374
Vice President
Corporate Communications
tom.newberry@gtc-bio.com
or
Feinstein Kean Healthcare for GTC
Francesca DeVellis
617-577-8110
francesca.devellis@fkhealth.com
IGO 1.98 InterSearch Group Announces Acquisition of MyBanks.com
Continues Its Expansion in the Financial Services Vertical
Jul 17, 2007 8:30:00 AM
Copyright Business Wire 2007
SAN FRANCISCO--(BUSINESS WIRE)--
InterSearch Group, Inc. (AMEX:IGO), a leading operator of premium, industry specific destination portals such as www.Banks.com, www.IRS.com and www.Look.com today announced it has acquired the internet domain, www.MyBanks.com.
The acquisition of MyBanks.com continues InterSearch Group's strategy and focus on expanding its presence in the financial services vertical of online advertising. Financial services, which is one of the largest and fastest growing areas of online ad spending, is the core competency of InterSearch Group. The company's proprietary finance related domains represent the major source of its online traffic, and have been experiencing strong traction with online users and advertisers.
The MyBanks.com acquisition complements InterSearch Group's Banks.com domain, a premier online consumer finance marketplace aggregating information on a broad range of products and fees including mortgages, credit cards, auto loans, debt management, and retirement.
MyBanks.com will provide a platform for personalized user pages, allowing visitors to monitor performance of their investment portfolios, record and analyze their income and expenses, and keep track of important consumer finance metrics. It will also host user generated content on a variety of financial topics, providing customers with an opportunity to share investment advice and ideas with each other, discuss their experience with various financial products, etc.
Andrew Keery, Executive Vice President of Product Management at InterSearch Group, said, "Our goal is to build a collection of premier category-level domains that would serve as an online destination of choice for any finance related information and products. We are striving to be the source of extensive, targeted content in the key consumer finance areas and to serve as a liaison between consumers and leading financial institutions."
"Our finance related domains attract a highly targeted audience due to their narrow focus on the consumer finance vertical. This is valuable to advertisers and leads to above average pay per Click (PPC) values. MyBanks.com is certainly a great strategic fit for us, representing another category level property with a direct focus on finance. We believe that customization features as well as Web 2.0 applications facilitating user generated content will significantly enhance customer experience, drive increased user retention, page views and, ultimately, revenues," concluded Keery.
Forward Looking Statements
This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. Forward looking statements, which are based on management's current expectations, are generally identifiable by the use of terms, such as "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "possible," "potential," "predicts," "projects," "should," "would" and similar expressions. Forward looking statements contained in this press release include statements regarding: our goal to build a collection of premier category level domains in the financial services vertical and the enhanced user experience on MyBanks.com and resulting increased revenue. The potential risks and uncertainties that could cause actual results to differ materially from those expressed or implied herein include, among others, failure to compete successfully in the financial services vertical; uncertainties related to the acceptance by customers of our enhanced version of MyBanks.com; and changes in general economic and business conditions. Further information on the factors that could affect InterSearch Group's financial results is included in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-KSB for the fiscal year ended December 31, 2006, our quarterly reports on Form 10QSB and our Current Reports on Form 8-K. Except as required by law, we assume no responsibility to update these forward looking statements publicly, even if new information becomes available in the future.
About InterSearch Group, Inc.
InterSearch Group is a leading operator of industry specific destination portals and provider of Internet search services through a combination of traffic aggregation and proprietary websites, such as www.Banks.com, www.IRS.com and www.Look.com. InterSearch Group operates in the fastest growing segments of Internet commerce including paid search, direct navigation and online marketing driving high quality traffic to advertisers and providing users with quick access to pertinent products and services. Through its corporate services division, InterSearch Group also provides Internet technology related professional services to large corporations, predominantly in the Financial Services industry. InterSearch Group is headquartered in San Francisco, California at 222 Kearny Street, Suite 550, and can be reached via telephone at 415-962-9700. More information about InterSearch Group can be found at: www.InterSearch.com.
Source: InterSearch Group, Inc.
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InterSearch Group
Kate Sidorovich
415-962-9780 (Investor Relations)
ksidorovich@intersearch.com
ARTE 7.11 Artes Medical Names Greg J. Kricorian, M.D. as Its Chief Medical Officer
Jul 17, 2007 8:30:00 AM
Copyright Business Wire 2007
SAN DIEGO--(BUSINESS WIRE)--
Artes Medical, Inc. (Nasdaq:ARTE), a medical technology company focused on developing, manufacturing and commercializing a new category of aesthetic injectable products for men and women, today announced the appointment of Greg J. Kricorian, M.D. to the newly created role of Chief Medical Officer.
Dr. Kricorian will report to Artes Medical's President and Chief Executive Officer, Diane S. Goostree, and will have responsibility for the clinical development and medical affairs departments. He will also chair the Company's Medical Advisory Board (MAB), and focus on enhancing the Company's involvement in the medical community. He will play a key role in Artes Medical's newly formed wholly-owned subsidiary, Spheris Medical, Inc., which will focus on developing and commercializing new and innovative medical applications based on the Company's proprietary microsphere tissue bulking technology.
"Greg has significant experience in the commercial development of dermatology products as well as in the design, execution and management of clinical studies of innovative aesthetic products," said Ms. Goostree. "Additionally, his strong relationships with the medical community will strengthen our management team as we move forward with our marketing launch campaign for ArteFill(R)."
Dr. Kricorian has over 10 years experience in the clinical and business development of cosmetic and aesthetic dermatology products. Prior to joining Artes Medical, he served as Senior Director, Medical Affairs for Valeant Pharmaceuticals International, a leading global specialty pharmaceutical company. Previously, Dr. Kricorian held positions of increasing responsibility at ICN Pharmaceuticals (now Valeant) and Dermatology Associates of San Diego, where he was a practicing physician focusing on aesthetic procedures, including dermal fillers and conducted and published research studies in aesthetic dermatology. Dr. Kricorian received his Bachelor of Science in Biology from University of California, Los Angeles; his M.D. at Stanford University Medical School; and his Masters of Business Administration from the University of California, Los Angeles. Additionally, Dr. Kricorian received his Regulatory Affairs Certification (RAC) from the Regulatory Affairs Professional Society.
About ArteFill(R)
ArteFill is the first and only FDA-approved non-resorbable injectable dermal filler for the correction of wrinkles known as smile lines or nasolabial folds. The unique microspheres in ArteFill are not absorbed by the body and therefore provide the first-of-its-kind permanent support for long-lasting wrinkle correction in one to two treatments.
ArteFill was approved by the FDA in October 2006 based on data from the Company's 12-month controlled, randomized, double-masked, multi-center U.S. clinical trial, which compared outcomes for patients treated with ArteFill with those of patients treated with the leading bovine collagen-based filler. At the 6-month evaluation, which was the primary efficacy evaluation period for the clinical trial, the wrinkle correction in patients treated with ArteFill persisted and showed statistically significant improvement compared to the wrinkle correction in the patients treated with the collagen control, who returned to their pretreatment status. The ArteFill patients were also evaluated one year after treatment, demonstrating continued safety and wrinkle correction.
The Company recently completed a 5-year follow-up study of 145 patients who were treated with ArteFill in the Company's U.S. clinical trial.
In addition to demonstrating the safety profile of ArteFill, the study showed statistically significant (p less than 0.001) improvement in patient wrinkle correction five years after the patient's last ArteFill treatment, and a statistically significant (p=0.002) improvement in wrinkle correction at the 5-year point compared to the 6-month evaluation period. As part of the study, physician investigators and patients were asked to provide their assessment of ArteFill treatment. Over 90% of the physician assessments were either "completely successful" or "very successful;" and over 90% of the patient assessments were either "very satisfied" or "satisfied." The Company has submitted the data from the study to the FDA for review in order to enhance the product labeling for ArteFill.
An ArteFill Skin Test is required before initial treatment. The most common adverse events associated with ArteFill treatment, similar to those observed with other dermal fillers, are lumpiness, persistent swelling or redness and increased sensitivity at the injection site.
ArteFill is a proprietary formulation comprised of polymethylmethacrylate, or PMMA, microspheres and bovine collagen, and is the only PMMA-based injectable product that has been approved by the FDA for the treatment of facial wrinkles. Artes Medical is the sole manufacturer of ArteFill, which is only available in the United States through our Company, and we have not entered into distribution or licensing arrangements with any third party for the distribution or sale of ArteFill outside the United States.
About Artes Medical, Inc.
Artes Medical is a medical technology company focused on developing, manufacturing and commercializing a new category of aesthetic injectable products for the dermatology and plastic surgery markets. There were approximately two million dermal filler procedures in the U.S. in 2006, an increase of 25% over the prior year, according to the American Society of Aesthetic Plastic Surgeons, or ASAPS. The Company's initial product, ArteFill, is being marketed to men and women as a treatment option for the correction of nasolabial folds. Additional information about Artes Medical and ArteFill is available at www.artesmedical.com and www.artefill.com.
Forward-Looking Statements
This news release may contain forward-looking statements that are based on the Company's current beliefs and assumptions and on information currently available to its management. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. As a result of these risks, uncertainties and other factors, which include the Company's history of net losses, its reliance on its sole FDA-approved product, ArteFill, its limited experience in commercializing ArteFill, and its future receipt of FDA approval to enhance the product label for ArteFill to extend the efficacy period of ArteFill beyond six months, readers are cautioned not to place undue reliance on any forward-looking statements included in this press release. A more extensive set of risks and uncertainties is set forth in the Company's SEC filings available at www.sec.gov. These forward-looking statements represent beliefs and assumptions only as of the date of this news release, and the Company assumes no obligation to update these forward-looking statements publicly, even if new information becomes available in the future.
Artes Medical(R) and ArteFill(R) are registered trademarks of Artes Medical, Inc.
Source: Artes Medical, Inc.
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Schwartz Communications
Inc.
Corporate Media:
Jenni Rosenberg/Thea Lavin
415-512-0770
artes@schwartz-pr.com
or
Artes Medical
Inc.
Investor Relations:
Cheryl Monblatt Allen
858-550-9999
callen@artesmedical.com
i see...ty!
i thought they were going out of business....are they not? MOVI
morning ou! GL today...weeeeeeeee lol
please let me know what you find out....i had a market order in for a few days several weeks ago ... no fill even at market! LOL
i ditto that one....just shoot me and get it over with...FSMH grrrrr
welcome, bottom_dollar...GL to you!
let me fill that gap for ya :)
hey birdies :)
hey lotto players!! hope you are all green all over :)
ty for the info, invest! this one moves easy when there is interest.....best of luck,
sub
hey penny! looks like it is waking up :) nice to see some life here :)
7/13/2007 EWDC 1-500 R/S eWorld Companies, Inc. Common Stock EWDI eWorld Companies, Inc. New Common Stock **
http://www.otcbb.com/asp/dailylist_detail.asp?d=07/12/2007&mkt_ctg=NON-OTCBB
7/13/2007 EWDC 1-500 R/S ** eWorld Companies, Inc. Common Stock EWDI eWorld Companies, Inc. New Common Stock
7/13/2007 CNTI 1-20 R/S ** CoConnect, Inc. Common Stock CCNN CoConnect, Inc. New Common Stock
7/11/2007 CLSN 1-5 R/S ** Coinless Systems, Inc. New Common Stock NHSH NHS Health Solutions, Inc. Common Stock
7/11/2007 AMEU 1-198 R/S ** Ameurotech Corporation Common Stock SCTT Scott Contracting Holdings, Inc. Common Stock
wow....that's totally freaky!
hola! :)
indeed it does!! perfect..LOL
LOL!! rooty toot toot? Lol
RAVI updated in ibox....wish i got paid for this...i'd be rollin in it! LOL
RAVI - Raven Moon Entertainment Inc Reverse Split History
Symbol Split Ratio Date
RVME 1:4000 R/S 07/09/2007
RMEI 1:4000 R/S 03/08/2007
RMNE 1:2000 R/S 12/15/2006
REVM 1:200 R/S 09/20/2006
RVMO 1:20 R/S 07/17/2006
RVMN 1:75 R/S 02/17/2006
RVNM 1:1000 R/S 07/15/2005
RMOO 1:50 R/S 07/10/2003
RMOO 1:10 R/S 06/30/1999
RAVI Raven Moon - S-8 1,000,000,000 shares 7/9/2007
send addendum: Raven Moon - S-8 1,000,000,000 shares
OBFC Obee's Franchise Systems, Inc. Announces Date Of 30 - 1 Stock Split
Jul 9, 2007 9:39:00 AM
PORT CHARLOTTE, Fla., July 9 /PRNewswire-FirstCall/ -- Obee's Franchise Systems, Inc. (OTC Pink Sheets: OBFC) today announced the date of the company's recently announced forward stock split. The official date of the stock split will be July 20, 2007. All shareholders of OBFC stock as of the market closing at 4:00 p.m. on July 19th will receive 30 shares of common stock for each share owned.
The company issued the following statement:
The Board of Directors of Obee's Franchise Systems, Inc. is pleased to announce the completion date for our forward stock split as July 20, 2007. We believe this decision will enable the company to engage in a new level of growth and expansion. We continue to support the interests of all our long- time shareholders, and believe this decision marks the beginning of an exciting new chapter for our company.
About Obee's Franchise Systems, Inc.
obee's(R) Soups Salads & Subs is owned by Obee's Franchise Systems Inc., a publicly-traded company on the over-the-counter market, symbol OBFC.PK. Obee's currently has over 50 restaurants open and in development across 21 states. The company has commitments to open over 1,000 additional locations over the next ten years. The chain has won numerous local and regional awards for its food menu and service.
For further information about franchising or shareholder relations please contact:
Peter Brown, President
Obee's Franchise Systems, Inc.
407-333-8998
obeesnews@sitcomllc.com
http://www.obees.com
This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 or Section 21E of the Securities and Exchange Act of 1934 and is subject to the safe harbor created by these sections. Obee's Franchise Systems, Inc. assumes no obligation to update the information contained in this press release. Certain information included herein may contain statements that are forward-looking, such as statements relating to plans for future expansion and other business development activities as well as operating costs, capital spending, financial sources and the effects of competition. Such forward-looking information is subject to changes and variations which are not reasonably predictable and which could significantly affect future results. Accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of the Companies.
SOURCE Obee's Franchise Systems Inc.
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Peter Brown
President of Obee's Franchise Systems
Inc.
+1-407-333-8998
obeesnews@sitcomllc.com