Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
WDAM - World Am's Senz-It Subsidiary Signs Memorandum of Understanding With International Smart Sourcing for the Manufacture of Its Planned Products
Wednesday September 13, 10:00 am ET
NEWPORT BEACH, Calif. and FARMINGDALE, N.Y., Sept. 13, 2006 (PRIMEZONE) -- World Am, Inc. (OTC BB:WDAM.OB - News) and International Smart Sourcing, Inc. (OTC BB:ISSG.OB - News) today jointly announced that the companies had signed a Memorandum of Understanding calling for Farmingdale-based International Smart Sourcing to be responsible for the future manufacturing of Senz-It's product line. ISS will provide final assembly and testing of various subassemblies and associated components, and will work with Senz-It to ensure a smooth transition from the design stage through to the production stage.
Senz-It's planned product line represents an innovative advancement in the field of micro-sensors that have applications in homeland security, indoor air quality monitoring, food processing and health care. The products will compete in the developing field of ``electronic noses,'' and can identify patterns of molecules present in air or liquid environments for significantly less cost than current approaches.
Founded in 1970, International Smart Sourcing, Inc. specializes in assisting companies in substantially reducing their cost of manufacturing by outsourcing all or part of their manufacturing to China. The company's services include project management, source selection, engineering coordination, quality assurance, logistics, and cost reduction. Product specializations are tooling, injection molding, die-casting, metal stampings, mechanical assemblies, and electromechanical assemblies. The company has offices in New York and Shanghai.
``The wealth of experience ISS brings to this relationship ensures that we will have a well seasoned partner to guide the timely roll out of our products,'' said World Am Chairman & CEO Robert A. Hovee.
``We are confident that the synergy of a world class manufacturing capability such as ours, and the leading edge innovation represented by World Am's Senz-It subsidiary's planned products, will result in a dynamic partnership for both our companies and our shareholders,'' said David Hale, Chairman & President of International Smart Sourcing.
Additional information on the companies is available at http://www.world-am.com and at http://www.smart-sourcing.com.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward looking statements are further qualified by other factors including, but not limited to those, set forth in the World Am, Inc. Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at http://www.sec.gov). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
Contact:
World Am, Inc.
Investor Relations
(951) 279-8884
International Smart Sourcing
David Hale, Chairman of the Board of Directors,
President, and Acting Chief Financial Officer
(631) 293-4796
--------------------------------------------------------------------------------
Source: World Am, Inc.; International Smart Sourcing, Inc.
PGOL - Patriot Gold Corp. to Hold Special Meeting of Shareholders
Wednesday September 13, 9:30 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Sep 13, 2006 -- Patriot Gold Corp. (OTC BB:PGOL.OB - News) announced today that in the next 30 days management will be holding a special meeting of shareholders where a vote will be held in regards to the following:
1. To grant discretionary authority to our board of directors to implement a reverse stock split of our common stock on the basis of one post-consolidation share for up to each ten pre-consolidation shares to occur at some time within twelve months of the date of the special meeting, with the exact amount and time of the reverse split to be determined by the Board of Directors;
2. To transact such other business as may properly be brought before a special meeting of the shareholders of our Company or any adjournment thereof.
Disclaimer: This announcement may contain forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and assay reports; the ability to close the acquisition of mineral exploration properties, and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in the company's filings with the Securities and Exchange Commission, and may be accessed through the SEC's web site at http://www.sec.gov.
Contact:
Contacts:
Patriot Gold Corp.
Brian Uppal
Toll Free: 1-877-501-GOLD (4653)
info@patriotgoldcorp.com
http://www.patriotgoldcorp.com
--------------------------------------------------------------------------------
Source: Patriot Gold Corp.
PGOL - Patriot Gold Corp. to Hold Special Meeting of Shareholders
Wednesday September 13, 9:30 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Sep 13, 2006 -- Patriot Gold Corp. (OTC BB:PGOL.OB - News) announced today that in the next 30 days management will be holding a special meeting of shareholders where a vote will be held in regards to the following:
1. To grant discretionary authority to our board of directors to implement a reverse stock split of our common stock on the basis of one post-consolidation share for up to each ten pre-consolidation shares to occur at some time within twelve months of the date of the special meeting, with the exact amount and time of the reverse split to be determined by the Board of Directors;
2. To transact such other business as may properly be brought before a special meeting of the shareholders of our Company or any adjournment thereof.
Disclaimer: This announcement may contain forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and assay reports; the ability to close the acquisition of mineral exploration properties, and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in the company's filings with the Securities and Exchange Commission, and may be accessed through the SEC's web site at http://www.sec.gov.
Contact:
Contacts:
Patriot Gold Corp.
Brian Uppal
Toll Free: 1-877-501-GOLD (4653)
info@patriotgoldcorp.com
http://www.patriotgoldcorp.com
--------------------------------------------------------------------------------
Source: Patriot Gold Corp.
CRME - Cardiome Announces Positive Phase 2a Results For Oral RSD1235
Wednesday September 13, 7:30 am ET
NASDAQ: CRME TSX: COM
VANCOUVER, Sept. 13 /PRNewswire-FirstCall/ - Cardiome Pharma Corp. (NASDAQ: CRME / TSX: COM) today announced top-line results from both the 300mg and 600mg dosing groups for its recently-completed Phase 2a pilot study of RSD1235 (oral). The study was initiated in December 2005, and an interim analysis of the 300mg dosing group relative to the initial placebo group was announced on July 24, 2006.
For the 300mg dosing group, 61% (33 of 54) of patients receiving RSD1235 (oral) completed the study in normal heart rhythm, as compared to 43% (24 of 56) of all patients receiving placebo. For the 600mg dosing group, 61% (30 of 49) of patients receiving RSD1235 (oral) completed the study in normal heart rhythm, as compared to 43% of all patients receiving placebo.
A Kaplan-Meier analysis of the results demonstrated a statistically significant efficacy difference between the 300mg dosing group and the placebo group (p=0.048). The difference between the 600mg dosing group and the placebo group trended toward but did not reach statistical significance (p=0.060). A combined analysis of all drug group patients relative to the placebo group also demonstrated a statistically significant difference (p=0.028).
For the entire study, a total of 171 patients were successfully cardioverted after the initial 3 days of dosing and continued in the study, of which 159 reached an endpoint of the study (completion of dosing or relapse to atrial fibrillation). The remainder of the patients were discontinued from the study for reasons unrelated to atrial fibrillation.
The safety data for both dosing groups suggests that RSD1235 (oral) appears well-tolerated within the target population. During the 28 days of oral dosing, serious adverse events occurred in 8% of all placebo patients, 10% of patients in the 300mg dosing group, and 11% of patients in the 600mg dosing group. Potentially drug-related serious adverse events occurred in 1% of all placebo patients, 4% of patients in the 300mg dosing group and 5% of patients in the 600mg dosing group. There were no cases of drug-related "Torsades de Pointes", a well-characterized arrhythmia which is an occasional side effect of some current anti-arrhythmic drugs.
"This clinical trial has exceeded our expectations, reinforcing the signal we saw in the 300mg interim results and giving us an even greater degree of confidence in the potential for RSD1235 (oral) as a therapy for the prevention of recurrence of atrial fibrillation," said Bob Rieder, Chief Executive Officer of Cardiome. "In particular, we are encouraged by the strong safety data we've seen in a target patient population which includes a high proportion of older patients and patients with congestive heart failure."
"This Phase 2a study was designed to test safety and tolerability, and we are very pleased with the clear early efficacy trends demonstrated," said Dr. Charles Fisher, Executive Vice President and Chief Medical Officer of Cardiome. "The consistency in safety, tolerability and efficacy across the two dosing groups indicates the potential to realize efficacy in the broad atrial fibrillation population within the context of the doses explored."
The double-blind, placebo-controlled, randomized, dose-ranging study was designed to explore safety and tolerability, pharmacokinetics and preliminary efficacy of RSD1235 (oral) over 28 days of dosing in patients at risk of recurrent atrial fibrillation. The majority of patients enrolled had experienced atrial fibrillation for greater than 30 days and less than 180 days in duration. Patients received a 300mg dose of RSD1235 (oral), a 600mg dose of RSD1235 (oral) or placebo twice per day. After the first 3 days, patients still in atrial fibrillation were electrically cardioverted. Successfully cardioverted patients continued to receive RSD1235 (oral) or placebo for the remaining 25 days and were monitored throughout the dosing period. Cardiome initiated the Phase 2a pilot study of RSD1235 (oral) in December 2005. The study was conducted across 72 centres in Canada, U.S. and Europe.
Cardiome will hold a teleconference and webcast on Wednesday, September 13, 2006 at 8:00am EST (5:00am PST) to discuss these results. Please dial 800-814-4853 or 416-644-3416 to access the call. There will be a separate dial-in line for analysts on which we will respond to questions at the end of the presentation. The webcast can be accessed through Cardiome's website at www.cardiome.com.
About Cardiome Pharma Corp.
Cardiome Pharma Corp. is a product-focused cardiovascular drug development company with two clinical drug programs focused on atrial arrhythmia (intravenous and oral dosing), and a pre-clinical program directed at improving cardiovascular function.
RSD1235 (iv) is the intravenous formulation of an investigational drug being evaluated for the acute conversion of atrial fibrillation (AF). Positive top-line results from two pivotal Phase 3 trials for RSD1235 (iv), called ACT 1 and ACT 3, were released in December 2004 and September 2005. An additional Phase 3 study evaluating patients with post-operative atrial arrhythmia, called ACT 2, and an open-label safety study evaluating recent-onset AF patients, called ACT 4, are ongoing. Cardiome and its co-development partner Astellas are working toward re-submitting a New Drug Application for RSD1235 (iv) following receipt of a Refusal to File letter from the FDA in May 2006.
RSD1235 (oral) is being investigated as a chronic-use oral drug for the maintenance of normal heart rhythm following termination of AF. Cardiome announced positive results from a Phase 2a pilot study for RSD1235 (oral) in July 2006 and September 2006.
Cardiome is traded on the Toronto Stock Exchange (COM) and the NASDAQ National Market (CRME). Further information about Cardiome can be found at www.cardiome.com.
Forward-Looking Statement Disclaimer
Certain statements in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including without limitation statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect" and similar expressions. Such forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause our actual results, events or developments, or industry results, to be materially different from any future results, events or developments expressed or implied by such forward-looking statements or information. Such factors include, among others, our stage of development, lack of product revenues, additional capital requirements, risk associated with the completion of clinical trials and obtaining regulatory approval to market our products, the ability to protect our intellectual property, dependence on collaborative partners and the prospects for negotiating additional corporate collaborations or licensing arrangements and their timing. Specifically, certain risks and uncertainties that could cause such actual events or results expressed or implied by such forward-looking statements and information to differ materially from any future events or results expressed or implied by such statements and information include, but are not limited to, the risks and uncertainties that: we may not be able to successfully develop and obtain regulatory approval for RSD1235 (iv) or RSD1235 (oral) in the treatment of atrial fibrillation or any other current or future products in our targeted indications; our future operating results are uncertain and likely to fluctuate; we may not be able to raise additional capital; we may not be successful in establishing additional corporate collaborations or licensing arrangements; we may not be able to establish marketing and sales capabilities and the costs of launching our products may be greater than anticipated; we rely on third parties for the continued supply and manufacture of RSD1235 (iv) and RSD1235 (oral) and we have no experience in commercial manufacturing; we may face unknown risks related to intellectual property matters; we face increased competition from pharmaceutical and biotechnology companies; and other factors as described in detail in our filings with the Securities and Exchange Commission available at www.sec.gov and the Canadian securities regulatory authorities at www.sedar.com. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. All forward-looking statements and information made herein are based on our current expectations and we undertake no obligation to revise or update such forward-looking statements and information to reflect subsequent events or circumstances, except as required by law.
CONTACT: Don Graham, Director of Corporate Communication, (604) 676-6963 or Toll Free: 1-800-330-9928, Email: dgraham@cardiome.com; Peter K. Hofman, Director of Investor Relations, (604) 676-6993 or Toll Free: 1-800-330-9928, Email: phofman@cardiome.com
--------------------------------------------------------------------------------
Source: Cardiome Pharma Corp.
OSCI - Oscient Pharmaceuticals Announces Results of FDA Advisory Committee Meeting for FACTIVE Tablets for the Treatment of Acute Bacterial Sinusitis
Wednesday September 13, 7:45 am ET
GAITHERSBURG, Md.--(BUSINESS WIRE)--Sept. 13, 2006--Oscient Pharmaceuticals has announced the results of yesterday's meeting of the U.S. Food and Drug Administration's (FDA) Anti-Infective Drugs Advisory Committee. The panel voted on topics related to the Company's pending supplemental New Drug Application (sNDA) seeking approval for the use of FACTIVE® (gemifloxacin mesylate) tablets in treating acute bacterial sinusitis (ABS).
The panel voted on two topics related to the Company's sNDA for ABS. For the first question, the panel voted 10 to 4 that the data from the non-inferiority clinical trials of FACTIVE in ABS were not sufficient to demonstrate efficacy in the treatment of ABS. For the question "Do the safety and effectiveness data presented demonstrate an acceptable risk/benefit profile of FACTIVE (gemifloxacin mesylate) for the 5-day treatment of patients with acute bacterial sinusitis," the panel voted 11 to 2 that the data did not support the approval of FACTIVE for the treatment of ABS.
"We believe strongly that we produced a comprehensive presentation that explicitly detailed the evidence supporting the use of FACTIVE for ABS and would like to recognize the contributions of our employees, consultants and opinion leaders at yesterday's meeting," stated Steven M. Rauscher, President and Chief Executive Officer. "We were pleased to have had the opportunity to present our data and analyses related to the safety and effectiveness of FACTIVE in the treatment of ABS."
The ABS sNDA seeks approval for the treatment of this infection with FACTIVE in a five-day treatment regimen. The sNDA contains data from five Phase III trials involving more than 1,800 patients receiving FACTIVE and 500 patients receiving a comparator. Of the 1,800 patients in the studies, more than 1,100 received FACTIVE for five days of treatment. The filing also includes safety data gathered from the post-marketing surveillance of FACTIVE since launch in September 2004 for the treatment of mild to moderate community-acquired pneumonia and acute bacterial exacerbations of chronic bronchitis. An FDA decision on this sNDA is expected by December 15, 2006. Although the FDA is not obligated to follow the recommendations of the Advisory Committee, it typically does.
Separately, an sNDA for the potential five-day treatment of CAP of mild to moderate severity by FACTIVE is pending and the FDA has set an action date of September 21, 2006 for that application. FACTIVE is currently approved for the seven-day treatment of mild to moderate community-acquired pneumonia and the five-day treatment of acute bacterial exacerbations of chronic bronchitis.
About Oscient Pharmaceuticals
Oscient Pharmaceuticals Corporation is a biopharmaceutical company committed to the clinical development and commercialization of novel therapeutics to address unmet medical needs. The Company is marketing FACTIVE® (gemifloxacin mesylate) tablets, approved by the FDA for the treatment of acute bacterial exacerbations of chronic bronchitis and community-acquired pneumonia of mild to moderate severity and ANTARA® 130 mg (fenofibrate) capsules, FDA-approved for the adjunct treatment of hypercholesterolemia (high blood cholesterol) and hypertriglyceridemia (high triglycerides) in combination with diet. Oscient has a novel antibiotic candidate, Ramoplanin, in advanced clinical development for the treatment of Clostridium difficile-associated disease (CDAD).
Important Safety Information about FACTIVE Tablets
The most common (more than 2% incidence) drug-related side effects reported in FACTIVE clinical trials were diarrhea (3.6%), rash (2.8%) and nausea (2.7%). In clinical trials, drug-related rash was reported in 2.8% of patients receiving gemifloxacin and was more commonly observed in patients less than 40 years of age, especially females. The incidence of rash increases with treatment longer than the maximum-labeled duration of 7 days. In clinical trials, the discontinuation rate due to drug-related adverse events was similar for FACTIVE tablets and comparators (2.2% versus 2.1%, respectively).
Gemifloxacin is contraindicated in patients with a history of hypersensitivity to gemifloxacin, fluoroquinolone antibiotic agents, or any of the product components. Patients receiving marketed fluoroquinolones have reported serious and occasionally fatal hypersensitivity and/or anaphylactic reactions, peripheral neuropathy, antibiotic-associated colitis and tendon ruptures. Gemifloxacin should be discontinued immediately at the first sign of any of these events.
Fluoroquinolones may prolong the QT interval in some patients. Gemifloxacin should be avoided in patients with a history of prolongation of the QTc interval, patients with uncorrected electrolyte disorders (hypokalemia or hypomagnesemia), and patients receiving Class IA or Class III antiarrhythmic agents. In clinical studies with gemifloxacin, CNS effects have been reported infrequently. As with other fluoroquinolones, gemifloxacin should be used with caution in patients with known or suspected CNS diseases. If CNS reactions occur, gemifloxacin should be discontinued and appropriate measures instituted.
No significant drug-drug interactions were seen with theophylline, digoxin, oral contraceptives, cimetidine, omeprazole, and warfarin, although patients receiving a fluoroquinolone concomitantly with warfarin should be monitored closely. Drug-drug interactions include probenicid, sucralfate, antacids containing aluminum or magnesium, iron, multivitamins containing metal cations, and didanosine. The safety and effectiveness of gemifloxacin in children, adolescents (less than 18 years of age), pregnant women, and lactating women have not been established. For complete safety and efficacy information, please see the full prescribing information available at www.factive.com.
Forward-Looking Statement
This news release may contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements related to FDA's anticipated decision on our sNDA seeking approval for the use of FACTIVE tablets in treating ABS. Forward-looking statements represent our management's judgment regarding future events. Forward-looking statements typically are identified by use of terms such as "may," "will," "should," "plan," "expect," "intend," "anticipate," "estimate," and similar words, although some forward-looking statements are expressed differently. We do not plan to update these forward-looking statements. You should be aware that our actual results could differ materially from those contained in the forward-looking statements due to a number of risks affecting our business. For example, our ability to increase our revenue and accelerate the time of our profitability may be limited by: (i) our ability to successfully commercialize and market ANTARA or FACTIVE: the limitations on our resources and experience in the commercialization of products; lack of acceptance by physicians, patients and third party payors; unanticipated safety, product liability, efficacy, or other regulatory issues; delays in recruiting and training sales personnel; problems relating to manufacturing or supply; inadequate distribution of the products by wholesalers, pharmacies, hospitals and other customers; and competition from other products; (ii) by our ability to integrate ANTARA into our business; (iii) whether we will be able to expand the indications for which FACTIVE is approved; (iv) the delay or inability to find sublicensing partners for FACTIVE or to negotiate favorable licensing terms; (v) the delay in or inability to obtain additional regulatory approvals of our products and product candidates due to negative, inconclusive or insufficient results in ongoing or future clinical trials, the FDA requiring additional information or data, delays in the progress of ongoing clinical trials, safety concerns arising with respect to our products or product candidates and disputes with the third parties from whom we license our products or product candidate; and (vi) delays by the FDA. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are described under the heading "Risk Factors" in the Company's Quarterly Report on Form 10-Q for the quarter ending June 30, 2006 and in other filings that we may make with the Securities and Exchange Commission from time to time.
Contact:
Oscient Pharmaceuticals
Investors:
Christopher Taylor, 781-398-2466
or
Media:
Sarah Emond, 781-398-2544
--------------------------------------------------------------------------------
Source: Oscient Pharmaceuticals Corporation
NSSI - Network-1 Receives Proceeds from Exercise of Warrants
Wednesday September 13, 8:45 am ET
NEW YORK, Sept. 13 /PRNewswire-FirstCall/ -- Network-1 Security Solutions, Inc. (OTC Bulletin Board: NSSI - News), today announced that it had received $635,000 in proceeds from the exercise of common stock purchase warrants held by FalconStor Software, Inc. (Nasdaq: FALC - News). The warrants were originally issued in 2001 as part of a private financing and were each exercisable for one share of Network-1 Common Stock at $1.00 per share.
Network-1's patent infringement litigation against D-Link Systems Inc. and its corporate parent D-Link Corporation, Inc. of Taiwan involving the Company's Remote Power Patent is proceeding on a timely basis in the United States District Court for the Eastern District of Texas, Tyler Division. A Markman hearing will be held on September 19, 2006 and a trial is set for March 9, 2007.
The Remote Power Patent relates to, among other things, the delivery of power over Ethernet cables in order to remotely power network connected devices including, among others, wireless switches, wireless access points, RFID card readers, VOIP telephones and network cameras. In June 2003, the Institute of Electrical and Electronic Engineers (IEEE) approved the IEEE 802.3af Power over Ethernet ("PoE") standard (the "Standard") which has led to the rapid adoption of PoE. According to industry analysts, annual revenues for several of the markets adopting this technology each exceed or are projected to exceed $1 billion.
ABOUT NETWORK-1 SECURITY SOLUTIONS, INC.
Network-1 Security Solutions, Inc. is engaged in the acquisition, development, licensing and protection of its intellectual property and proprietary technologies. As part of its business strategy it is offering licenses to third parties who Network-1 believes could benefit from the technologies covered by its patents. In February 2004, the Company initiated its licensing efforts relating to its patent (U.S. Patent No. 6,218,930) covering the remote delivery of Power over Ethernet cables.
This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements address future events and conditions concerning the Company's business plans. Such statements are subject to a number of risk factors and uncertainties as disclosed in the Company's Quarterly Report on Form 10-QSB for the three months ended June 30, 2006 including, among others, the ability of Network-1 to obtain license agreements from third parties for its patent portfolio, uncertainty of patent litigation, the Company's ability to achieve revenues and profits from its patent portfolio, the Company's ability to raise capital when needed, future economic conditions and technology changes and legislative, regulatory and competitive developments. Except as otherwise required to be disclosed in periodic reports, the Company expressly disclaims any future obligation or undertaking to update or revise any forward-looking statement contained herein.
Contacts:
Company
Network-1 Security Solutions, Inc.
Corey M. Horowitz, 212-829-5770
Corey@Network-1.com
Or
Investors
Alliance Advisors, LLC
Alan Sheinwald, 914-244-0062
asheinwald@allianceadvisors.net
--------------------------------------------------------------------------------
Source: Network-1 Security Solutions, Inc.
ICOP - ICOP To Deliver High Speed Live Streaming Surveillance Security Solutions for Law Enforcement
Wednesday September 13, 8:30 am ET
LENEXA, Kan., Sept. 13 /PRNewswire-FirstCall/ -- ICOP Digital, Inc. (Nasdaq: ICOP; NYSE Arca: ICOP), an industry leading company engaged in advancing digital surveillance solutions, today announced plans to deliver high speed live streaming surveillance security solutions for law enforcement as well as the public and private sector industries.
With an objective of enabling the communication of live video images from a police vehicle directly back to an agency's headquarters, ICOP endeavors to elevate the level of response to any situation - as it is occurring - through the use of Sprint's Power Vision(SM) network and its upgraded technology, EV-DO Revision A. ICOP will begin offering a live streaming video solution during the fourth quarter of 2006, in conjunction with the Sprint rollout of EV-DO Revision A technology. In addition, ICOP is developing next generation surveillance products and solutions using these advanced high speed networks.
The ICOP Model 20/20, a product of ICOP Digital, Inc., is leading the digital in-car video revolution. The innovative ICOP Model 20/20 stores nothing in the trunk or under the seat - the system fits in the dash of the vehicle (or console). ICOP's high quality video images set ICOP apart in the industry. The addition of live streaming video over high speed networks with the ICOP Model 20/20 adds an important new dimension to advancing community security, as video information will now be provided to law enforcement leadership live.
"When evaluating and responding to an emergency or high risk situation, streaming live video images from the field should prove to be invaluable, potentially lifesaving, for law enforcement," said Wes Hatfield, director of public sector marketing, Sprint. "We are pleased ICOP chose Sprint as its preferred provider, to integrate our high speed wireless technology with their advanced surveillance solutions."
ICOP and Sprint are also planning to include an audio/visual display, demonstrating ICOP's streaming video surveillance solutions for law enforcement, in the Sprint Executive Briefing Center at their headquarters in Overland Park, Kansas. The Sprint Executive Briefing Centers are located in six cities across the country, are used for customer briefings, tours and special events and are designed to showcase Sprint's technology leadership and displays of technologies from Sprint partners.
Dave Owen, ICOP's Chairman and CEO, stated, "This important relationship leverages both ICOP and Sprint's respective technological strengths and expertise to meet the growing need to secure communities with highly effective surveillance solutions. We believe that the collaboration of our development teams will translate into enhanced security solutions for our customers."
Continuing, Owen added, "New products, currently under development at ICOP, will make it possible to stream live video to the ICOP Model 20/20 in- car video system, located in the police vehicle, from ICOP cameras stationed inside of buildings. Representing the cornerstone of our goal to ultimately provide a complete veil of protection over the community, these are important developments, particularly in light of prevailing national security concerns. After all, without local security, we have no national security."
About ICOP Digital, Inc.
ICOP Digital, Inc. is a Kansas-based company that delivers innovative, mission-critical security, surveillance, and communications solutions that provide timely and accurate information for the public and private sectors, and monitor and protect people, assets and profits. The ICOP Model 20/20 is the leading digital in-car video recorder system for use by law enforcement. ICOP Digital is currently marketing its solutions for application in law enforcement, homeland security and defense, mass transit and commercial surveillance. ICOP Digital, a GSA contractor, is dual listed on the NASDAQ market and the NYSE Arca, and the common stock and warrants trade under the ticker symbols "ICOP" and "ICOPW," respectively. For more information, please view a three-minute ICOP video presentation at http://www.icopdigital.com/why_icop.html, or visit www.ICOP.com.
Safe Harbor Statement
This document contains 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. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in future operating results due to a number of economic, competitive, and other factors, including, among other things, our reliance on third-party manufacturers and suppliers, government agency budgetary and political constraints, new or increased competition, changes in market demand, and the performance or reliability of our products. These factors and others could cause operating results to vary significantly from those in prior periods, and those projected in forward-looking statements. Additional information with respect to these and other factors, which could materially affect the company and its operations, are included in certain forms the company has filed with the Securities and Exchange Commission.
For more information, contact:
Laura E. Owen, COO
16801 West 116th Street
Lenexa, KS 66219 USA
Phone: (913) 338-5550
Fax: (913) 312-0264
Lowen@ICOP.com
www.ICOP.com
For Investor/Media Relations:
Elite Financial Communications Group/Elite Media Group
Dodi Handy, President and CEO
Phone: (407) 585-1080
ICOP@efcg.net
--------------------------------------------------------------------------------
Source: ICOP Digital, Inc.
IVCM - CEO of IVI Communications, Inc. to Launch High Impact Marketing Campaign
Wednesday September 13, 8:30 am ET
IVI Communications, Inc. to Capitalize on Expertise of Key Contributor to the Development of Nickelodeon TV, MTV and CMT Music Television Networks, Nyhl Henson
LOS ANGELES, Sept. 13 /PRNewswire-FirstCall/ -- IVI Communications, Inc. (OTC Bulletin Board: IVCM; German WKN# A0DNWJ), an innovative broadband Internet service provider company, today announced that long time communications and entertainment industry executive, Nyhl Henson, will lead an aggressive marketing campaign to dramatically increase market awareness of the Company as it begins to achieve major milestones in its strategy to deliver broadband Internet access to rural towns across America.
Mr. Henson has charted a course for the Company that begins with the acquisition of locally branded dialup ISPs in underserved broadband markets, proceeds to the rollout of a nationally branded pre WiMAX fixed wireless broadband network to deliver VoIP telephony and other enhanced broadband services, and concludes with the emergence of a national broadband media distribution company.
Among his past accomplishments, Mr. Henson served as the first general manager of Nickelodeon TV and was a key contributor to the development of MTV for Warner Cable. After leaving Warner, Henson became vice president of programming and production with Oak Media Development, where he pioneered the pay-per-view genre with such events as the Rolling Stones in concert and the Leonard-Hearns and Holmes-Cooney championship fights. Mr. Henson assisted in the creation of Music Village Group, a Nashville-based entertainment Company, and Music Village USA, a 40-acre theme park. Henson was named Chairman and CEO of Country Music Television when Music Village acquired the fledgling network. Country Music Television was later sold by Group W Cable and Gaylord to MTV Networks as part of a $1.5 billion package.
"Mr. Henson's experience and vision has prepared the Company to embark on this highly anticipated campaign. His singular determination combined with his dedication to specific goals and objectives is sure to make this a very successful and exciting journey," stated Charlie Roodenburg, Board Member and CFO of IVI Communications, Inc.
Mr. Henson stated that, "We have implemented an aggressive strategy to acquire Internet Service Providers in Tier 3 markets and are in the process of deploying a nationally branded fixed wireless broadband Internet access service. Our goal is to penetrate the largest untapped market in the county which has an estimated 12,000,000 households."
About IVI Communications, Inc.
IVI Communications is implementing a threefold strategy; to acquire local Internet Service Providers (ISP's), deploy WiMAX fixed wireless broadband Internet access, and offer broadband services such as VoIP and Internet based entertainment services. IVI Communication's business plan is to deliver wide spread availability of broadband Internet access to rural towns across America.
Safe Harbor
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.
Contact: Investor Relations For IVI Communications, Inc.
Big Apple Consulting USA, Inc. 1-866-THE-APPLE
--------------------------------------------------------------------------------
Source: IVI Communications, Inc.
ONT - On2 Technologies and Fabchannel.com Announce Live Flash Video Broadcasts
Wednesday September 13, 8:30 am ET
On2 Flix Live 8 Powers Live Flash Video Concerts on Award-Winning Fabchannel.com Website for Global Audience
NEW YORK, Sept. 13 /PRNewswire-FirstCall/ -- On2 Technologies, Inc. (Amex: ONT - News) an industry leader in video encoding software, and Amsterdam-based music website Fabchannel.com, announced today that Fabchannel is using On2 Technologies' new On2 Flix Live 8 software for live Flash encoding of music events on Fabchannel.com, reaching global audiences over the Internet.
Fabchannel.com is a Webby Award 2006 winner for Best Music Website in the world, housing the world's largest online concert video archive, with over 500 exclusive concerts from world-renowned clubs Paradiso and Melkweg in Amsterdam. With this announcement, Fabchannel.com offers live Flash concert webcasts in addition to an expansive catalog of archived events.
The first live concert using On2 Flix Live was broadcast on August 28, 2006, and Fabchannel will broadcast over 200 concerts annually. Users can view upcoming concerts on Fabchannel.com.
"On2 Flix Live made its debut with our webcast of Pennywise in concert at the Melkweg in Amsterdam, our first-ever webcast in On2 VP6 for Flash," said Bauke Freiburg, head of product development for Fabchannel.com. "A show that would normally draw only local fans to the bricks-and-mortar club played to over 4,000 people around the world on the Internet. It's an entirely new way for these bands to reach out to their fans wherever they may be. On2's Flix Live encoder is helping Fabchannel.com transform the underground music scene from a local sensation to a global phenomenon."
On2 Flix Live is the first broadcast-quality live Flash encoding solution available on the market. On2 Flix Live allows millions of Flash users around the world to access live content with the same quality and ease of use as Flash on-demand video content, which has made Flash the most popular video format for the Internet.
"We are pleased that a popular website such as Fabchannel is among the first to showcase the live Flash video capabilities of our new On2 Flix Live software," said Samrat Vasisht, vice president of marketing at On2 Technologies. "Our On2 VP6 codec has brought long-form, broadcast-quality video capabilities to Flash. With the introduction of On2 Flix Live, webcasters for the first time can deliver the same experience for live events as they have come to expect with Flash video in general."
About Fabchannel.com
Founded by Paradiso Amsterdam, one of Europe's leading live music clubs, Fabchannel.com is a leading new breed of entertainment companies that combine content, technology, and distribution to reach global audiences and promote emerging trends in music. Since its first webcast in 2000, Fabchannel has gained extensive following through combining online concert video production with rights management, video distribution, interface design and online music promotion. Fabchannel earned four prestigious Internet awards, including the Prix Europa 2005 and the Webby Award 2006 for Best Music Website in the world.
About On2 Technologies, Inc.
On2 Technologies (Amex: ONT - News) is a leading technology firm at the forefront of digital video compression. The company revolutionized digital media delivery with the creation of its advanced full-motion, full-screen On2 Video compression and streaming technologies. On2 Video codecs are widely used in the Internet, video-on-demand, VoIP, and mobile media markets. On2's software is used by such leading global companies as Adobe/Macromedia, AOL, Skype, XM Satellite Radio, Sony, CTT, VitalStream, and Tencent. Located in New York City, the company has offices in Clifton Park, NY, and Cambridge, UK. To contact On2, write to sales@on2.com or visit http://www.on2.com.
Trademarks mentioned in this release are property of their respective owners.
--------------------------------------------------------------------------------
Source: On2 Technologies
ONGO - On The Go Reduces Debt and Overhead Costs by $1.4M and $1M Respectively; Reports Record Revenue to Date in 2006
Wednesday September 13, 8:30 am ET
CONCORD, Ontario, Sept 13 /PRNewswire-FirstCall/ -- On The Go Technologies Group (OTC Bulletin Board: ONGO - News), a leading multi-industry computer hardware, software and systems integrator, announced today that the company significantly reduced its debt and cut costs for 2006 fiscal year ended July 31. The company said record year ended revenue is in excess of $30 million. The company expects to report audited financial results for fiscal year 2006 before the end of October.
Financial and fundamental highlights are as follows:
* Since January, OTG has streamlined its financial structure with a $1.4
million debt reduction and a $1 million decrease in wages and overhead
costs.
* In addition to record year ended sales exceeding the company's original
$30 million target, the company is showing strong and steady growth in
all operating divisions: OTG Enterprise, OTG Creative, OTG Healthcare
and OTG Research. One of the company's latest acquisitions, Island
Corporation (now part of OTG Healthcare/Research), has produced
especially aggressive results in the medical diagnostic imaging and
scientific research sectors.
* OTG anticipates it will surpass $40 million in revenues for its 2007
fiscal year driven by continued organic growth and additional IT sales
and service acquisitions.
* With OTG's enterprise divisions Compuquest and Infinity Technologies
well positioned in the Fortune 500 and SME marketplaces, the company's
digital entertainment (OTG Creative) and medical community (OTG
Healthcare/Research) sales divisions, Helios/Oceana, Solutions In
Computing and Island Corporation, are strongly contributing to the
company's product authorizations with increases in their active
customers to 130 and 1,700 respectively.
OTG President and CEO Stuart Turk said, "We have experienced exceptionally strong performance in revenue and in our ability to trim costs to produce a healthy bottom line. OTG's management and board of directors remain committed to doing what they've always done best year after year -- bettering revenues and capital structure, building upon customer numbers and establishing an industry reputation for providing among the best in innovation and professional client solution packages. We believe our dedication and passion will ensure that OTG continues to thrive, hitting that $40 million sales projection and becoming a profitable entity."
About On The Go Technologies Group
On The Go Technologies Group is a North American corporation focused on acquiring versatile and profitable companies in the IT sector. OTG has established itself as a respected industry competitor through its six divisions: value-added resellers Compuquest and Infinity Technologies, which cater to Fortune 1000 clientele and vendors such as HP, Apple, IBM, SGI, Extreme Networks and Adobe; Helios|Oceana, a prominent systems integrator in the U.S. and Canadian entertainment and education industries; Island Corporation, compiling sophisticated digital solutions and networks for the medical community; digital entertainment authority Solutions in Computing; and Go Motion + Design, the company's complete in-house multimedia studio. The company's intention is to maintain sustained growth in the years to come via continued development in its existing divisions and an aggressive acquisition schedule. For more information, visit http://www.oghc.com or http://www.onthegohealthcare.com/video.
To view a company profile, visit http://www.hawkassociates.com/ongoprofile.aspx. To be added to On The Go Technologies Group's e-mail list for company news, visit http://www.onthegohealthcare.com/new_site/inv_pkg_form.htm and http://hawkassociates.com/email.aspx. For investor relations information, contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail: info@hawkassociates.com, or visit http://www.hawkassociates.com and http://www.americanmicrocaps.com.
This press release contains forward-looking statements that involve a number of risks and uncertainties. These forward-looking statements contain words such as "expects," "believes," "anticipates" and "intends." Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, economic conditions affecting the B2B environment; continued ability to obtain hardware, software and peripherals at competitive costs; the company's ability to finance its planned expansion efforts; the company's ability to manage its planned growth; and changes in regulations affecting the company's business and such other risks disclosed from time to time in the company's reports filed with the Securities and Exchange Commission. The company does not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in management's expectations, except as required by law.
--------------------------------------------------------------------------------
Source: On The Go Technologies Group
VITR - Japan Telecom Implements Vitria Technology Inc.'s BusinessWare Platform
Wednesday September 13, 8:30 am ET
Vitria's Technology Helps a Leading Telecommunications Carrier to Dramatically Improve Its Data Telecommunications Operation Support
SUNNYVALE, Calif., Sept. 13 /PRNewswire-FirstCall/ -- Vitria Technology, Inc. (Nasdaq: VITR - News), a leading provider of business process integration solutions, announced today that Japan Telecom, one of largest telecommunication carriers in Japan, has implemented Vitria's BusinessWare® platform to improve its data telecommunication operation support system (OSS) for the enterprise.
The main challenge for Japan Telecom was to build an OSS that consolidates service orders and status information from customers while realizing faster time to market and a reduction in maintenance and operating costs. By leveraging the Business Process Management (BPM) and Enterprise Application Integration (EAI) capabilities of BusinessWare, they were able to integrate existing systems and applications effectively while cutting down in-house development work.
"In today's competitive telecommunications market, time-to-market is the key to success. Companies like Japan Telecom have a clear need to select best of breed BPM/EAI technology in order to create a flexible system that can quickly respond to business needs in the future," said Masaru Hayase, acting president of Vitria Japan. "We are greatly honored to be selected as the primary product for Japan Telecom's OSS infrastructure renewal. Vitria's deep knowledge and worldwide achievements in the telecommunications industry will ensure further success and business achievements at Japan Telecom."
About Japan Telecom
Established in 1984, JAPAN TELECOM CO., LTD. owns over 13,000km nationwide fiber optic digital network. The company is also growing its substantial international business with its worldwide presence. JAPAN TELECOM provides a wide range of voice and internet/data communications services tailored to suit all needs of corporate. The company is 100% subsidiary of SOFTBANK CORP.
About BusinessWare
BusinessWare is a business process integration platform that orchestrates interactions across a company's existing applications, data, people and partners to continuously improve one or more strategic business processes. BusinessWare gives companies complete control and visibility of their business operations across their extended enterprise, enabling them to improve the efficiency of their business operations, reduce time to market for new products and services, develop closer relationships with their partners and customers, and rapidly respond to changing business conditions. The proven BusinessWare solution was the industry's first platform for business process- centric integration and is widely recognized as the most flexible and powerful solution available, adopted by customers and partners in a broad range of industries.
About Vitria
Vitria Technology, Inc., a leading provider of business process integration products and solutions, combines technology leadership with industry expertise in healthcare and insurance, telecommunications, manufacturing and financial services to dramatically improve strategic business processes across systems, people and trading partners. These solutions are built on the award-winning BusinessWare® Enterprise Business Process Management suite. With offices around the world, Vitria's customer base includes blue chip companies such as AT&T, Bell Canada, BellSouth, Blue Cross Blue Shield Association, BP, BT, DaimlerChrysler Leasing, Generali, Nissan, Reynolds & Reynolds, RBC Financial Group, Sprint, U.S. Department of Defense and Veterans Health Administration. For more information call +1-408-212-2700, email info@vitria.com, or visit www.vitria.com .
NOTE: Vitria and BusinessWare are registered trademarks of Vitria Technology, Inc. All other names may be trademarks of the companies with which they are associated.
--------------------------------------------------------------------------------
Source: Vitria Technology, Inc.
OIIM - Significant Battery Gauge Patent Granted To O2Micro
Wednesday September 13, 8:30 am ET
GEORGE TOWN, Grand Cayman, Sept. 13, 2006 (PRIMEZONE) -- O2Micro(r) International Limited (NASDAQ:OIIM - News); (HKSE:0457.HK - News), a leading supplier of innovative power management, and security components and systems, was issued 14 claims under United States patent number 7,081,737 for its Battery Cell Monitoring and Balancing circuit.
William Kao, vice president, O2Micro, commented, ``Accurately measuring and balancing voltage levels may result in longer battery life. The embodied technology becomes another enabler and supporter of industry-wide efforts to extend battery life.''
This patented IC architecture enables monitoring and balancing voltage levels of a LiIon or Li-Polymer battery pack, and its individual cells, through a highly accurate low power battery gauge function.
In addition, applications using this invention can be easily modified resulting in quicker design cycles and use in a wide variety of battery models. Product applications include notebook computers, UPS, electric bike, electric vehicle, etc.
About O2Micro
Founded in April 1995, O2Micro develops and markets innovative power management, and security components and systems for the Computer, Consumer, Industrial, and Communications markets. Products include Intelligent Lighting, Battery Management, Power Management, SmartCardBus(r) and Security products, such as VPN/Firewall system solutions.
O2Micro International maintains an extensive portfolio of intellectual property with 5,651 patent claims granted, and over 7,000 more pending. The company maintains offices worldwide. Additional company and product information can be found on the company website at http://www.o2micro.com.
O2Micro, the O2Micro logo, SmartCardBus, and combinations thereof are registered trademarks of O2Micro. All other trademarks are the property of their respective owners.
Statements made in this release that are not historical, including statements regarding O2Micro's or management's intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. Factors that could cause actual results to differ materially include risks and uncertainties such as reduced demand for products of electronic equipment manufacturers which include O2Micro's products due to adverse economic conditions in general or specifically affecting O2Micro's markets, technical difficulties and delays in the developments process, and errors in the products. You are also referred to the Form F-1 in connection with the company's initial public offering in August 2000, Form F-3 in connection with the company's public offering in November 2001, and the annual reports on Form 20-F, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The company assumes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
Contact:
O2Micro
Mitchell Benus, Director of Investor Relations
(408) 332-1749
mitchell.benus@o2micro.com
--------------------------------------------------------------------------------
Source: O2Micro International Limited
INTK - Industrial Nanotech Signs Agreement With Armstrong World Industries, Inc.
Wednesday September 13, 8:30 am ET
NAPLES, Fla., Sept. 13, 2006 (PRIMEZONE) -- Industrial Nanotech (Other OTC:INTK.PK - News), a company that specializes in nanotechnology innovation and product development, today announced the signing of an agreement submitted by Armstrong World Industries, Inc. to work towards incorporation of the Company's proprietary technologies into products manufactured by Armstrong.
Armstrong World Industries, Inc., a subsidiary of Armstrong Holdings, is a global leader in the design and manufacture of floors, ceilings and cabinets. Armstrong generated nearly $4 billion in revenues in 2005 and has 14,600 employees worldwide with 41 plants in 12 countries.
``The application of Nansulate coatings on walls and in attics of commercial and residential buildings has been an important and growing market sector for us,'' stated Stuart Burchill, CEO of Industrial Nanotech. ``Armstrong World Industries approached us in early August and I found the concept of incorporating our technology into their ceiling and flooring products as an OEM product to be a fascinating idea with tremendous potential. This agreement, which I signed as submitted yesterday, will allow us to significantly expand this market for Nansulate and will provide Armstrong with a superior proprietary product line in a very competitive industry,'' added Mr. Burchill.
About Nansulate(tm)
Nansulate is a product line of water-based translucent insulation coatings containing a nanotechnology-based material well-documented to provide thermal insulation, prevent corrosion and resist mold. The entire Nansulate Product Line includes: Nansulate GP, Nansulate PT, Nansulate Chill Pipe, Nansulate High Heat, Nansulate HomeProtect ClearCoat and HomeProtect Interior, and Nansulate LDX.
Nansulate GP is a general purpose formulation designed for wood, fiberglass and other non-metal substrates and Nansulate PT is a direct to metal coating for pipes, tanks and other metallic substrates. Coatings that target extreme industrial environments include Nansulate Chill Pipe designed for low temperature applications on pipes and tanks and Nansulate High Heat designed for high temperature applications. Nansulate HomeProtect ClearCoat and HomeProtect Interior are designed for residential and commercial buildings and Nansulate LDX is designed for lead encapsulation applications.
About Industrial Nanotech Inc.
Industrial Nanotech Inc. is a global nanoscience solutions and research leader. The Company develops and commercializes new and innovative applications for nanotechnology that address real-world needs through its funding of and participation in research with world-leading scientists and laboratories, including the U.S. Center for Integrated Nanotechnology (CINT) and Princeton Polymers Laboratories.
The Industrial Nanotech, Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=1701
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Contact:
Industrial Nanotech, Inc.
(800) 508-6153
corporate@industrial-nanotech.com
Investors:
ZA Consulting
David Zazoff
(212) 505-5976
PressReleases@Za-Consulting.net
--------------------------------------------------------------------------------
Source: Industrial Nanotech, Inc.
WWWW - SAM'S CLUB, Costco and OfficeMax to Sell Web.com's Site Builder & Hosting Suite Nationwide
Wednesday September 13, 8:30 am ET
Leading Retailers Join Staples, Office Depot, CompUSA and Amazon.com in Retail Agreement with Encore
ATLANTA, Sept. 13, 2006 (PRIMEZONE) -- Web.com, Inc. (NASDAQ:WWWW - News) and Encore, a wholly-owned subsidiary of Navarre Corporation, announced today three new distribution partnerships including SAM'S CLUB, Costco and OfficeMax. These three national retailers have been added to sell Web.com's Site Builder & Hosting Suite under a retail agreement that began in July and includes Staples, Office Depot, CompUSA and Amazon.com.
``The addition of SAM'S CLUB, Costco and OfficeMax significantly extends the availability of Web.com's Site Builder & Hosting Suite,'' said Jeff Stibel, President and CEO, Web.com. ``We are very excited to be on the shelves of these retailers and look forward to providing their customers with the tools they need to create and maintain a strong online presence for their small business or personal needs.''
Web.com's Site Builder & Hosting Suite enables customers to easily register a domain name, build a website, and have it professionally hosted. After the initial term, customers will be billed a standard recurring monthly fee to maintain their website. In addition, Web.com has partnered with Google to offer free search advertising in every box to help customers market their website. The product will be available in these new retailers beginning in late September 2006.
Mike Bell, CEO of Encore, stated, ``Web.com Site Builder & Hosting Suite is perfect for any consumer who wants to create and publish a website. We are excited to expand our retail network and deliver a product with the unique combination of hosting service along with easy-to-use website building tools.''
About Encore
Based in Los Angeles, CA, Encore is a wholly-owned subsidiary of Navarre Corporation, and a leading interactive publisher in the PC CD-ROM market. As a result of strategic relationships, the company publishes a complete range of productivity, utility, education and game titles. Publishing brands include Spyware Doctor(tm), Hoyle(r), Marine Aquarium, Family Tree Maker(r), 3D Home Architect(r) and Advantage; as well as the Riverdeep family of brands including The Print Shop(r), PrintMaster(r), Reader Rabbit(r), Mavis Beacon(r), Creating Keepsakes(r) and ClickArt(r).
Navarre is a publisher and distributor of physical and digital home entertainment and multimedia products. For more information on Navarre Corporation, visit http://www.navarre.com.
About Web.com
Web.com, Inc. (NASDAQ:WWWW - News), formerly Interland, Inc. (INLD - News), is the leading destination for the simplest, yet most powerful solutions for websites and web services. Web.com offers do-it-yourself and professional website design, website hosting, ecommerce, web marketing and email. Since 1995, Web.com has been helping individuals and small businesses leverage the power of the Internet to build a web presence. More than 4 million websites have been built or hosted using Web.com's proprietary tools, services and patented technology. For more information on the company, please visit http://www.web.com or call at 1-800-WEB-HOST.
Contact:
Web.com
Peter Delgrosso
404-260-2500
investor@corp.web.com
Navarre Corporation
Haug Scharnowski
763-535-8333
hscharnowski@navarre.com
--------------------------------------------------------------------------------
Source: Web.com, Inc.
NTBK - NetBank Announces Marketing Alliance With ATA Airlines
Wednesday September 13, 8:30 am ET
ATA Travel Awards Members Can Earn Up to 3,250 Points for Banking Online
ATLANTA, Sept. 13, 2006 (PRIMEZONE) -- NetBank, Inc. (NASDAQ:NTBK - News), a diversified financial services provider and parent company of NetBank(R) (http://www.netbank.com), today announced a new affiliation with ATA Airlines to provide ATA Travel Awards members the opportunity to earn points for using various NetBank services. Members can now earn a one-time bonus of up to 3,250 points when registering for NetBank services, such as online checking accounts, money market accounts and certificates of deposit.
``Alliances such as the one we are announcing today allow NetBank to market our services to consumers who share similar characteristics to our existing customer base - mainly busy professionals like frequent travelers who appreciate the value and convenience of doing business online,'' said Donna Mack Crowell, director of strategic alliances for NetBank. ``Internet banking is in step with their lifestyle, and as a NetBank customer, they can enjoy a convenient connection to their money no matter where their travels take them.''
ATA Travel Awards points can be earned with NetBank in the following ways:
-- 1,000 points for opening and funding a checking account with
a minimum deposit of $50 and maintaining an average daily
balance of $500 for at least one month
-- 1,000 points for opening and funding a Money Market account
with a minimum deposit of $100 and maintaining an average
daily balance of $1,000 for at least one month
-- 1,250 points for opening and funding a Certificate of
Deposit account with a balance of $15,000 and a minimum term
of 12 months; or 750 points for a balance of $10,000 and a
minimum term of 12 months; or 300 points for a balance of
$5,000 and a minimum term of 12 months.
Members can learn more about earning miles through NetBank services by visiting http://www.netbank.com/ata.
``We are excited to provide our ATA Travel Awards members with yet another way to earn miles through services that fulfill everyday needs,'' said Josef Loew, senior vice president of scheduled service for ATA Airlines. ``The flexibility of NetBank's services and the generous mileage offer create a valuable opportunity for our members who are always on the go.''
About NetBank, Inc.
NetBank, Inc. (NASDAQ:NTBK - News) operates a diverse group of complementary financial services businesses that leverage technology for more efficient and cost effective delivery of services. Its primary areas of operation include personal and small business banking, retail and wholesale mortgage lending, and transaction processing. For more information, please visit http://www.netbank.com.
Contact:
NetBank, Inc.
Rich Jeffers
(678) 942-7596
rjeffers@netbank.com
--------------------------------------------------------------------------------
Source: NetBank
HISC - Homeland Integrated Security Systems, Inc. to Secure Relationships With European GSM Networks
Wednesday September 13, 8:31 am ET
Extends Agreement With UK-Based Local Presence
ASHEVILLE, NC--(MARKET WIRE)--Sep 13, 2006 -- Homeland Integrated Security Systems, Inc. (Other OTC:HISC.PK - News) is pleased to announce that the Company has extended their agreement with Local Presence through remainder of this year. Local Presence will continue to assist Homeland Integrated Security Systems with the certification of the Cyber Tracker(TM) on the Orange, O2, and Vodafone GSM networks. Local Presence has also been actively presenting the Cyber Tracker(TM) to European OEMs such as Saab, Volvo, as well as telecom manufacturers, Sony Ericsson, Siemens, and Nokia.
Local Presence is a UK-based communications services and consulting company that has worked with Ericsson, British Telecom, Ernst & Young, Vodafone, Three, Orange, and CAPE Technologies. Local Presence provides communications management and technical know-how for a wide range of UK and global telecoms operators, vendors, IT systems integrators, and utilities. They also provide business development support for low cost open-source Location Based Products such as the Cyber Tracker. The managing partners of Local Presence, Rod Clarke and Nick Powell, each have over thirty years of experience in the telecom industry.
"The Cyber Tracker is a unique solution and is capable of performing multiple applications, which makes it a valuable product for a number of vertical markets," stated Rod Clarke, managing partner of Local Presence.
"Our continued relationship with Local Presence is very important to our success in Europe. We have worked together to establish the Cyber Tracker, and Homeland Integrated Security Systems in the region. We are now poised to significantly increase sales in the region thanks to the work we have done together," stated Fred Wicks President and CEO of Homeland Integrated Security Systems, Inc.
About Homeland Integrated Security Systems, Inc.:
Homeland Integrated Security Systems, Inc. owns proprietary technology and has the rights to use patents to some of the most innovative and sophisticated security products. Cyber Tracker technology has applications for data and tracking functions across numerous verticals. For more information please visit our website www.hissusa.com.
Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. The Company is a development stage company who continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
Contact:
Contact:
Homeland Integrated Security Systems
Investor Relations
1-866 THE APPL(E)
http://www.hissusa.com
--------------------------------------------------------------------------------
Source: Homeland Integrated Security Systems, Inc.
IGTS - Intelligent Sports, Inc. Reports Earnings in Excess of $143,000 for the 2005 Fiscal Year
Wednesday September 13, 8:31 am ET
UPLAND, CA--(MARKET WIRE)--Sep 13, 2006 -- Intelligent Sports, Inc. (Other OTC:IGTS.PK - News) is pleased to announce that the Company has reported gross revenue of $143,513 in sales from January to December of 2005. The Company also reduced its expenses by 16%.
Intelligent Sports managed to reduce their expenses from $181,168 to $152,147, which is a reduction of sixteen percent. The Company's financials also report assets of $17,301.50. Intelligent Sports, Inc. will be reporting their unaudited financials for 2005 on the Company's website, www.intelligentsports.net, and also on www.pinksheets.com.
"We are pleased with the direction the Company is taking. Our financial focus is to aggressively increase revenue from diverse sectors while at the same time reducing operational costs," stated Thomas Hobson, CEO of Intelligent Sports, Inc.
The Company recently announced that they will be hosting the 6th Annual "Nothin' But Net" (NBN) Fall Basketball League. League competition starts on September 23, 2006 and ends with a single elimination playoff on the weekend of November 4, 2006. During the inaugural year of 2001, the NBN fall league sold out, featuring 44 teams from 28 different communities.
About Intelligent Sports, Inc.:
Intelligent Sports, Inc. (www.intelligentsports.net) provides organized youth fitness and academic programs. These programs allow kids to grow athletically and intellectually. Whether it is tutoring, health development, or specialized fitness training -- Intelligent Sports will have something that will meet their general athletic and physical needs. Intelligent Sports will launch the business model in other targeted communities throughout the country over the next several years.
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Contact:
Contact:
Intelligent Sports, Inc.
Investor Relations
1-866-THE-APPL(E)
--------------------------------------------------------------------------------
Source: Intelligent Sports, Inc.
TSEM - Ikanos Communications Selects Tower Semiconductor to Manufacture High Volume Network Processor
Wednesday September 13, 7:00 am ET
High Performance Network Processor Used for Triple Play Services
MIGDAL HAEMEK, Israel, September 13 /PRNewswire-FirstCall/ -- Tower Semiconductor Ltd. (NASDAQ: TSEM; TASE: TSEM), a pure-play independent specialty foundry, today announced that Ikanos Communications, Inc. (NASDAQ: IKAN - News), a leading developer and provider of Fiber Fast(TM) broadband solutions, has chosen to manufacture its Vx160 high-performance DSL network processor at Tower. The product will be produced in 0.16-micron at Tower's advanced Fab2. Ikanos is a recognized leader in the DSL semiconductor market.
The Vx160 product features architectural innovations that can easily operate at the 100/100 Mbps (downstream/upstream) wire speeds.
"In our continued drive to diversify our manufacturing capabilities, we selected Tower Semiconductor to manufacture our highest volume network processor," said Joshua Rom, vice president of operations at Ikanos Communications. "Tower's excellent engineering and manufacturing capabilities resulted in a fast product ramp for the Vx160, ensuring that we met our customers' requirements in a timely manner."
"We are happy that Ikanos chose Tower for manufacturing the Vx160. Tower's design support and manufacturing team worked closely with Ikanos engineers to bring this complex project to fruition," said Dani Ashkenazi, general manager of the Core-CMOS product line at Tower Semiconductor. "We look forward to the successful deployment of this product in the market place."
About Tower Semiconductor Ltd.
Tower Semiconductor Ltd. is a pure-play independent specialty foundry established in 1993. The company manufactures integrated circuits with geometries ranging from 1.0 to 0.13-micron; it also provides complementary technical services and design support. In addition to digital CMOS process technology, Tower offers advanced non-volatile memory solutions, mixed-signal & RF-CMOS, and CMOS image-sensor technologies. To provide world-class customer service, the company maintains two manufacturing facilities: Fab 1 has process technologies from 1.0 to 0.35-micron and can produce up to 16,000 150mm wafers per month. Fab 2 features 0.18 and 0.13-micron, standard and specialized process technologies, and has the current capacity of up to 15,000 200mm wafers per month. Tower's Web site is located at http://www.towersemi.com/.
About Ikanos Communications, Inc.
Ikanos Communications, Inc. (NASDAQ: IKAN - News) develops chipsets that enable carriers to offer Fiber Fast(TM) bandwidth and high-speed network processing for enhanced triple play services. Supporting transmission rates of up to 100 Mbps, Ikanos' line of end-to-end silicon solutions power line terminals, CPE modems and residential gateways for many of the world's leading network equipment manufacturers. Ikanos' solutions enable fast and cost-effective carrier rollouts of interactive broadband services including IPTV.
Safe Harbor
This press release includes forward-looking statements, which are subject to risks and uncertainties. Actual results may vary from those projected or implied by such forward-looking statements. A complete discussion of risks and uncertainties that may affect the accuracy of forward-looking statements included in this press release or which may otherwise affect our business is included under the heading "Risk Factors" in our most recent Annual Report on Form 20-F, Forms F-1, F-3 and 6-K, as were filed with the Securities and Exchange Commission and the Israel Securities Authority.
Contacts:
Tower Semiconductor USA:
Michael Axelrod, +1-408-330-6871
pr@towersemi.com
--------------------------------------------------------------------------------
Source: Tower Semiconductor Ltd
HEPH - Hollis-Eden Pharmaceuticals Presents Positive Preclinical Data on Compounds Targeting Hormone Refractory Prostate Cancer
Wednesday September 13, 7:00 am ET
SAN DIEGO--(BUSINESS WIRE)--Sept. 13, 2006--Hollis-Eden Pharmaceuticals, Inc. (NASDAQ:HEPH - News) announced today that its scientists presented data detailing the activity of its steroid compounds in preclinical models of hormone refractory prostate cancer (HRPC). The results presented at the 12th International Congress on Hormonal Steroids, Hormones & Cancer being held September 13-16, 2006, in Athens, Greece, show that these compounds can inhibit adrenal steroid-induced generation and proliferation of prostate cancer tumors common in late-stage disease.
In a commonly used murine model for HRPC in humans, treatment with one of Hollis-Eden's compounds, HE3235, reduced tumor incidence in a dose dependent fashion and, in the high-dose group, completely prevented tumor growth (0/11), compared to 92% tumor incidence (11/12) in vehicle-treated animals. The Company presented preliminary data indicating that HE3235 inhibits the Src signal transduction pathway involved in androgen- and estrogen-driven HRPC. In its research, Hollis-Eden screened compounds from its library that inhibited adrenal androgen stimulated proliferation of human LnCaP prostate cancer cells in vitro. This system, designed to mimic HRPC in humans, was used to identify lead compounds that would then be tested in the murine model for HRPC.
The incidence of HRPC is estimated at approximately 90,000 in the U.S., resulting in an estimated 36,000 deaths each year. Hormone therapy that blocks production of testosterone can effectively control prostate disease for a period of time. However, hormone therapy will eventually fail and the prostate cancer will continue to grow and spread. HRPC is a disease state represented by tumors that develop the ability to grow despite low levels of testosterone. HRPC cells appear to be able to utilize other endogenously produced adrenal steroids as tumor growth factors.
"Hormone refractory prostate cancer represents a significant unmet medical need for patients with late-stage disease," stated Dwight R. Stickney, M.D., Vice President, Medical Affairs at Hollis-Eden. "The results presented today support the concept that it is possible to develop a targeted therapy to block HRPC-associated tumors by interrupting their ability to use adrenal steroids as growth factors. We are very encouraged with these results and are profiling HE3235 in additional studies. If these studies are successful, HE3235 could enter clinical trials in 2007."
"These results demonstrate the potential for a first-in-class drug therapy for hormone refractory prostate cancer patients," said Richard B. Hollis, Chairman and Chief Executive Officer of Hollis-Eden. "As we reported with these and other compounds at this conference, we are making considerable progress through our structure-activity relationship program in identifying new compounds from our Hormonal Signaling Technology Platform that may offer potential therapeutic benefit in a wide range of diseases and disorders."
Hollis-Eden Pharmaceuticals, Inc. is developing a proprietary new class of small molecule compounds that are metabolites or synthetic analogs of adrenal steroid hormones. These compounds, designed to restore the biological activity of cellular signaling pathways disrupted by disease and aging, have been demonstrated in humans to possess several properties with potential therapeutic benefit -- they regulate innate and adaptive immunity, reduce nonproductive inflammation and stimulate cell proliferation. The Company's lead product candidate, NEUMUNE(TM) (HE2100), is entering late-stage development for the treatment of Acute Radiation Syndrome (ARS), a life-threatening condition resulting from exposure to high levels of radiation following a nuclear or radiological incident, and is being explored for use in combating healthcare-associated infections. Hollis-Eden also is profiling optimized second-generation compounds for potential clinical development in a broad spectrum of therapeutic categories including hematology, metabolic disorders, autoimmune disorders, pulmonary diseases, oncology and infectious diseases. For more information on Hollis-Eden, contact the Company's website at www.holliseden.com.
This press release contains forward-looking statements concerning the potential and prospects of the Company's drug discovery program and its drug candidates. Any statement describing a goal, expectation, intention or belief of the Company is a forward-looking statement and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties, including the ability to complete preclinical and clinical trials successfully and within specified timelines, if at all; the ability to obtain regulatory approval for NEUMUNE under the U.S. Food and Drug Administration Animal Efficacy Rule, even if shown to be effective in preclinical studies; the ability to receive any stockpiling orders for NEUMUNE from the U.S. federal, state and foreign governments, even if approved by regulatory authorities; the Company's future capital needs; the Company's ability to obtain additional funding; the ability of the Company to protect its intellectual property rights and to not infringe the intellectual property rights of others; the development of competitive products by other companies; and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. The actual results may differ materially from those contained in this press release.
Contact:
Hollis-Eden Pharmaceuticals
Dan Burgess or Scott Rieger, 858-587-9333
--------------------------------------------------------------------------------
Source: Hollis-Eden Pharmaceuticals, Inc.
LNVGF - Dell and Lenovo Rumble in Asia
Lenovo is weak outside China. Dell's making inroads there. Now the computer giants are locked in skirmishes over talent and market share
Ever since decamping from Round Rock, Tex., about a year ago to head up Dell's (DELL) Asia Pacific operations from Singapore, Steve Felice has had some major managerial headaches. Lenovo (LNVGF) has been poaching key executives from him left and right, most notably William Amelio, who co-managed Asia along with Felice until he defected to the Chinese rival last December to assume the chief executive's job.
Not surprisingly, Amelio then launched a full-blown talent raid of his own and managed to grab five more from Felice's team. The latest: Gerry Smith, a Dell vice-president in Singapore, who last month became Lenovo's vice-president of services for Asia. Others to defect include David Miller, who was president of Dell in China, and Sotaro Amano, a top Dell executive in Japan.
Lenovo is "definitely more and more competing with Dell in the same segment for the same people," says Joseph Ho, an analyst in Hong Kong with Daiwa Institute of Research.
NO. 3 IN ASIA. The executive exodus has come as a surprise to Dell's Asia boss. "It's obviously something that we didn't expect," Felice says. But, he adds, "we are dealing with it. None of these people is irreplaceable." Felice says that he was able to promote replacements from within the company quickly thanks to what he calls "the depth and breadth of our bench." Taking a shot at his Chinese rival, he says that the raid on Dell shows that Lenovo didn't have the same sort of talent. "It's a little surprising that they would have to fill so many jobs," he says.
As Michael Dell's man in Lenovo's backyard, the 49-year-old Felice is in an unusual situation (for a Dell exec) of being the underdog. In the U.S., it is Dell that is on top and Lenovo that is the upstart. Not so in Asia. With 20% market share, Lenovo is No. 1 in the Asia-Pacific region (which excludes Japan but includes just about everything else from South Korea to New Zealand to India).
That top-dog position is thanks to Lenovo's dominance of China, where the company has one-third of the market. Dell has 9.5% of the Asian market, behind Hewlett-Packard (HPQ) at 12%, according to statistics from International Data. A year ago, Lenovo was at 18.4%, HP was at 12%, and Dell was at 8.8%.
CLOSING THE GAP. That's progress and some much-needed good news for Dell, which is feeling the heat from an embarrassing recall of its laptop batteries and a widening probe by the U.S. Securities and Exchange Commission into its finances and accounting practices (see BusinessWeek.com, 9/12/06, "Dell Reports More Trouble").
Felice points out that the region now accounts for 14% of Dell's revenue, up from 12% a year ago, and that Dell's Asia revenues increased 17% in the second quarter of the year. For all of 2006, Dell is on track to book sales of $8 billion in Asia, up from less than $4 billion in 2003. And Dell is now No. 2 in the Japanese market, behind only local favorite Fujitsu.
"Whether it's Japan or China or ASEAN or India or Australia/New Zealand, we are closing the gap," says Felice. In yet another dig at his former colleagues who have left to join Amelio, Felice adds that Dell's success isn't tied to one country alone. "We are profitable in the region—unlike Lenovo, which is profitable only in China," he says.
"THE CHINA BASKET". It's true that Lenovo's new hires from Dell have their work cut out for them. Lenovo's top position in Asia is due entirely to China. Take out China, and Lenovo falls to No. 4, according to IDC, with just 6.2% of the market. That's why Amelio and his team at Lenovo raided Dell for some of Felice's starting lineup of executives.
Lenovo has also opened a research center in Singapore and is moving more aggressively to expand in India. "They recognize that so many of their eggs are sitting in the China basket," says Bryan Ma, an analyst with IDC in Singapore. "A lot of these moves are part of a long-term investment to boost that position" in Asia outside of China, he adds.
Dell is counter-punching in China. Felice insists that Dell's direct-sales model works in China, although critics contend not enough Chinese shop over the Internet to make direct sales viable. Still, Dell has opened its second factory there, in the southeastern city of Xiamen, doubling its manufacturing capacity in the country, and Felice boasts that Dell has 5,000 workers in China.
OFF THE INDEX. When Amelio was still at Dell, an e-mail from a Dell salesman in the U.S. that was critical of the Chinese government made its way onto the Internet. That caused a backlash against Dell there and the company's sales dove for a quarter. But they have since recovered and Felice argues that Dell is a good corporate citizen, sourcing over $16 billion worth of equipment with China-based suppliers. "We contribute more to the China economy than Lenovo does," he crows.
Lenovo may be feeling some pain. On Sept. 11, the company suffered a black eye when it got booted off the Hang Seng Index, the benchmark for blue chips in Hong Kong and China. Replacing Lenovo on the Hang Seng is a subsidiary of Taiwanese electronics giant Hon Hai Precision. The same day, Bloomberg, citing Lenovo Chairman Yang Yuanqing, reported that the company was prepared to lower prices in China in response to pressure from competitors such as Dell.
Beijing-based Lenovo spokeswoman Jean Cai, in an e-mail to BusinessWeek, would not confirm that the company will be lowering prices. However, she did say "pricing pressure is part of our daily life." She added, "There is industry talk of price wars and our competitors are tougher than ever." It looks like the Dell-Lenovo rumble in Asia is well underway.
Einhorn covers Chinese technology for BusinessWeek in Hong Kong
Hewlett-Packard Chair to Step Down
Wednesday September 13, 3:10 am ET
By Jordan Robertson, Associated Press Writer
Hewlett-Packard Chair to Step Down, but Threat of Criminal Charges Remains
SAN JOSE, Calif. (AP) -- Hewlett-Packard reshuffled the leadership of its board of directors amid the scandal surrounding its investigation of internal leaks to the media, but the company's troubles are far from over.
California's attorney general warned for the first time Tuesday that company insiders are likely to face criminal charges.
"We currently have sufficient evidence to indict people both within Hewlett-Packard as well as contractors on the outside," Attorney General Bill Lockyer said.
He made that statement late in the day on PBS' "NewsHour with Jim Lehrer," following HP's early morning announcment that Chairwoman Patricia Dunn would step down in January and be replaced by Chief Executive Mark Hurd. Meanwhile, another director who acknowledged he was a source of leaks resigned from the board.
It was another chaotic day in a scandal that has rocked Silicon Valley's biggest and oldest technology company, led to investigations by state and federal authorities, and raised questions about one of the most powerful women in corporate America.
Dunn has admitted authorizing the investigation and she defended the need to determine who was leaking boardroom secrets to the media. But she said she was appalled that private investigators hired by the company used Social Security numbers to impersonate HP directors and journalists, then persuaded phone companies to turn over detailed logs of their home phone calls.
The ruse -- known as "pretexting" -- is commonly used by private investigators but is against the law, according to Lockyer.
"Unfortunately, the investigation, which was conducted with third parties, included certain techniques," Dunn said in a statement. "These went beyond what we understood them to be, and I apologize that they were employed."
The FBI, the U.S. Attorney for Northern California and the House Energy and Commerce Committee have requested information on HP's investigation. The Securities and Exchange Commission and the Federal Communications Commission are also investigating.
Dunn will remain on the board after giving up the top job on Jan. 18. She will be succeeded by Hurd, who is respected on Wall Street and untainted by the investigation at the Palo Alto-based computer and printer maker.
Dunn said that the probe's methods "have no place in HP."
The company's stock continued a steady climb that began not long after HP revealed details about the investigation in a regulatory filing. Shares of Hewlett-Packard Co. rose 56 cents, or 1.54 percent, to close at $36.92 on the New York Stock Exchange. The stock hit a new 52-week high of $37.25 earlier in the session.
Industry analysts say Hurd's track record as CEO and straightforward style make him the logical pick to replace Dunn in as the company copes with the backlash from the breaches.
"This is a very elegant solution to a tricky situation," said technology industry analyst Cindy Shaw, a former HP employee.
Dunn was angry about media leaks of confidential board discussions and commissioned an unnamed outside firm to identify their source. At a board meeting in May, Dunn identified director George Keyworth III as the source of a January article on CNET Networks Inc.'s News.com. The board asked Keyworth, 66, to resign, but he refused. HP then barred him from seeking re-election.
On Tuesday, Keyworth resigned and acknowledged sharing company information with reporters, but said he did so with the company's approval.
"The invasion of my privacy and that of others was ill-conceived and inconsistent with HP's values," he said in a statement.
The attempt to oust Keyworth last spring riled another board member, longtime Silicon Valley venture capitalist Tom Perkins, 74, who resigned and left the May 18 meeting.
HP's focus should now be on moving forward with Hurd at the helm, Perkins said, but he won't return to the board if invited.
"I believe in HP. I believe in Mark Hurd," he said. "This too shall pass."
The pressure on Dunn to step down increased when Congress and federal investigators joined the probe.
Some analysts said Dunn should have been removed altogether, but Roger Kay, who follows HP as president of the market research firm Endpoint Technologies Associates, had a different take.
"I think the fact that they made the statement that she's going to leave solves most of the problem," he said. "I don't think it's that material precisely when she leaves."
BPUR - Biopure Announces Final Settlement of SEC Litigation
Tuesday September 12, 4:01 pm ET
CAMBRIDGE, Mass., Sept. 12 /PRNewswire-FirstCall/ -- Biopure Corporation (Nasdaq: BPUR - News) announced today that the Securities and Exchange Commission (SEC) has given final approval to the company's previously announced agreement in principle with the staff of the SEC to settle the litigation, filed in September 2005, concerning disclosures the company made in 2003.
"This settlement removes a cloud over the company," said Biopure Chairman and CEO Zafiris G. Zafirelis. "I am pleased to put this issue behind us as we focus on the development of our oxygen therapeutics."
Under the settlement agreement, the company consented, without admitting or denying the allegations in the complaint, to an injunction against future violations of federal securities laws and regulations. No payments were required of the company. In addition, the company agreed to retain and adopt the recommendations of an independent consultant who will review the company's disclosure procedures.
The SEC also gave final approval to a separate settlement agreement with the company's general counsel. The settlement consisted of a consent, without admitting or denying any allegations, to an injunction against aiding or abetting violations of certain non-intent-based reporting requirements, payment of a civil penalty, and dismissal by the SEC of all other allegations in the complaint.
These settlement agreements conclude the SEC's investigation and litigation of this matter with respect to Biopure and its general counsel.
Biopure Corporation develops, manufactures and markets pharmaceuticals, called oxygen therapeutics, that are intravenously administered to deliver oxygen to the body's tissues.
Statements in this press release that are not strictly historical are forward-looking statements. Actual results and their timing may differ materially from those projected in these forward-looking statements due to risks and uncertainties. These risks include, without limitation, uncertainties regarding the company's financial position, unexpected costs and expenses, delays and determinations by regulatory authorities, unanticipated problems with the product's commercial use, whether or not product related, and with product distributors, sales agents or other third parties, and delays in clinical trials. The company undertakes no obligation to release publicly the results of any revisions to these forward-looking statements to reflect events or circumstances arising after the date hereof. A full discussion of the company's operations and financial condition can be found in the company's filings with the U.S. Securities and Exchange Commission, including under the heading "Risk Factors" in the Form 10-Q filed on September 11, 2006, which can be accessed in the EDGAR database at the SEC Web site, http://www.sec.gov.
Contact: Douglas Sayles Herb Lanzet (Investors)
Biopure Corporation H.L. Lanzet Inc.
(617) 234-6826 (212) 888-4570
IR@biopure.com lanzet@aol.com
--------------------------------------------------------------------------------
Source: Biopure Corporation
WWEG - Worldwide Energy Corporation Launches New Website
Tuesday September 12, 4:05 pm ET
SEATTLE, Sept. 12 /PRNewswire-FirstCall/ -- Worldwide Energy Corp. (Pink Sheets: WWEG - News), an energy company engaged in the acquisition, exploration, and development of properties for production of crude oil and natural gas, is proud to announce it has launched its new website.
The website address is: http://www.worldwide-energy.com
This website will be updated on a regular basis with the progress of our latest projects. Shareholders will also be able to find information about management of the company and view the share price of WWEG stock.
Revell Murphy, CEO of Worldwide Energy, stated, "We are very pleased to have this website launched. The company feels it is important to stay in close contact with its shareholders and this is the most efficient way to accomplish that task. We will keep this website as up-to-date as possible so our shareholders can follow the progress of the company as things are happening."
About Worldwide Energy
Worldwide Energy is an energy company engaged in the acquisition, exploration, and development of properties for production of crude oil and natural gas in regions around the world. The Company focuses on properties that will be able to build value for shareholders and produce solid revenues and profitability. The company has recently focused on Caddo Pine, Louisiana, a region which according to a March 2005 Department of Energy report contains over 2 billion barrels of Remaining Oil in-Place, and is the richest field in the Onshore Gulf Coast Basin.
To Learn More About Worldwide Energy, Please Visit: http://www.worldwide-energy.com
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.
Contact:
Jim Gorney (734) 306-7575
investor@worldwide-energy.com
--------------------------------------------------------------------------------
Source: Worldwide Energy Corporation
Coalition for Fair Lumber Imports Applauds Signing of U.S.-Canada Agreement to Settle Softwood Lumber Dispute
Tuesday September 12, 4:12 pm ET
WASHINGTON, Sept. 12 /PRNewswire/ -- The Coalition for Fair Lumber Imports today welcomed the signing by senior officials of the governments of Canada and the United States of the agreement to resolve the long-standing softwood lumber trade dispute between the two countries.
Coalition Chairman Steve Swanson commented, "This is welcome news. As with any negotiated settlement, the agreement text represents a compromise on the part of both countries, and we have real reservations about a variety of provisions of the settlement text. Neither side got all of what it wanted, but both sides got what they needed to move forward in a positive and constructive manner. On balance, the agreement is in the interest of U.S. sawmills and their workers."
Swanson continued, "We commend President Bush and Prime Minister Harper for their personal leadership. We would also like to thank the Bush Administration team, USTR Ambassador Susan Schwab and USTR General Counsel Jim Mendenhall, for their dedication and hard work which allowed for this agreement to come to fruition."
Swanson concluded, "We look forward to working closely with the U.S. government to ensure that the agreement with Canada is administered and enforced effectively to establish a fair competitive playing field for U.S. sawmills, mill workers and family timberland owners across the United States."
About the Coalition for Fair Lumber Imports
The U.S. Coalition for Fair Lumber Imports is an alliance of large and small lumber producers from around the country, joined by hundreds of thousands of their employees, and tens of thousands of woodland owners. The Coalition is united in opposition to Canada's unfair lumber-trade practices, including its gross under-pricing of timber. For more information, please visit the Coalition's website at http://www.fairlumbercoalition.org.
--------------------------------------------------------------------------------
Source: Coalition for Fair Lumber Imports
ECU.V / ECUXF - ECU Silver Mining Inc.: Recent Gold and Silver Discovery Reaches 70 Meters '230 Feet' in Length
Tuesday September 12, 4:15 pm ET
TORREON, COAHUILA--(MARKET WIRE)--Sep 12, 2006 -- ECU Silver Mining Inc. (TSX VENTURE:ECU.V - News) -
- Sampling on level 15 averaged 5.25 meters of width (17.2 feet) grading
- 4.29 g/t Au, 161 g/t Ag, 1.37% Pb and 3.19% Zn over a 70 meters length (230 feet);
- Included was an intercept that averaged 6.55 meters (21.5 feet) of width grading 9.96 g/t Au, 300 g/t Ag, 1.92% Pb and 2.82% Zn;
- Possibility of vertical continuity of nearly 200 meters (656 feet) connecting Level 15 discovery to original Stockwork zone on levels 17.5 and 18.
ECU Silver Mining Inc. (the "Company") is pleased to announce that it has extended and confirmed the recent discovery made on level 15 of the Santa Juana mine at its Velardena property in Mexico. (See the Company's press release August 25, 2006) As a result of its continuing 2006 exploration program at the property, which only now is approximately 1/3 completed, the Company reported a recent silver and gold discovery on level 15 on August 25, 2006. The initial findings from the four cross-cuts averaged 5.88 meters of width (19.3 feet) grading 5.79 grams per tonne (g/t) gold (Au), 194 g/t silver (Ag), 1.89 per cent lead (Pb) and 2.64 per cent zinc (Zn) over 40 metres in length (131 feet).
Importance of latest results:
Subsequent to this announcement, the Company's exploration of the property continued to drift along the identified zone and the latest data confirms the extension of the zone from a previous length of 40 meters (131 feet) to now 70 meters (230 feet) in length. Furthermore, the grade values were confirmed by completing the infilling sampling program. The latest results from these 12 new additional samples (see table 1 below) on level 15 averaged 5.25 meters of width (17.2 feet) grading 4.29 g/t Au, 161 g/t Ag, 1.37% Pb and 3.19% Zn over 70 meters in length (230 feet). Please note that several cuts were incomplete and all missing segments were considered as having nil grades as only the wider veins were assayed. Although some of the host rock did contain veinlets, it was assumed that the grade of all non-assayed material was nil. Consequently, the average grade that will be obtained from mining may be higher as the grades of the cuts in Table 1 do not include values from the veinlets and four cuts are missing a wider vein.
The Company is pleased with the results which provide further evidence of the continuity and the economic interest of the entire system. Although further work is required before the Company may comment directly on possible net ore values, the average grades on level 15 appear sufficient to yield solid revenues when applying current economic parameters.
This new discovery of 70 meters nearly doubles the original length reported of 40 meters. Although the Company can not directly comment on the potential future tonnage of this discovery before an updated NI 43-101 compliant report is completed, the Company is of the opinion that once the preparation work for the six mining blocks, between level 12 and 18 are completed, future mining operations may be materially affected. Readers are cautioned that although the above statement is based on the best available data the Company has collected to date, a material difference between the actual results and our expectations may arise once further drilling is completed.
This level 15 zone represents a specific geological phenomenon, well-known in structural geology, which is linked to the position of the veins in relation to a major regional fault (Tres Aguilas fault). Thus we may expect this zone to extend vertically for as long as the veins are in a similar position relative to the fault. To this point the Company has proven this continuity from levels 12 to 18 (230 meters or 755 feet) by drifting.
Furthermore, actual drilling performed on the A4 vein (see Company's press release May 8, 2006), which is included in the same veins package within the Santa Juana mine, suggests that the vertical continuity of this zone might continue for an extra 400 meters (1,500 feet) below level 18, for a possible total vertical extension of 630 meters (2067 feet). Readers are cautioned that we are assuming that we should encounter mineralization between the upper and lower levels, but there are no guarantees that we will.
Current plans for further development work:
The Company is currently continuing its plans of further development and exploration in the area located between levels 12 and 18 (a vertical distance of nearly 230 meters (755 feet)).
To date, 70 meters (230 feet) of horizontal continuity has already been demonstrated by drifting on Level 15 and the Company is doing additional work to determine the full westward extent of this zone up to the Tres Aguilas fault and beyond as well as the eastward extension. Once the fault has been reached to the north-west section of the zone, the Company intends to explore on the other side of the fault to investigate if this structural pattern repeats itself as a mirror image of the current discovery.
-----------------------------------------------------------------------
TABLE 1
-----------------------------------------------------------------------
CROSS-CUTS ON LEVEL 15
-----------------------------------------------------------------------
Width Au Ag
Sample # (m) g/t g/t Pb % Zn % Comment
-----------------------------------------------------------------------
3 veins 5.00 5.57 98 1.79 2.37 cut #1 previously reported
-----------------------------------------------------------------------
4 veins 5.60 7.17 154 2.92 2.17 cut #2 previously reported
-----------------------------------------------------------------------
3 veins 6.00 5.07 47 0.48 1.34 cut #3
-----------------------------------------------------------------------
3 veins 6.80 1.21 222 0.55 2.98 cut #4
-----------------------------------------------------------------------
3 veins 6.80 1.21 222 0.55 2.98 cut #4
-----------------------------------------------------------------------
2 veins 6.30 3.38 55 1.87 2.79 cut #5 incomplete
-----------------------------------------------------------------------
2 veins 5.80 4.01 137 1.30 3.20 cut #6 missing one vein
-----------------------------------------------------------------------
3 veins 6.60 2.16 161 0.69 2.13 cut #7 missing one vein
-----------------------------------------------------------------------
5 veins 6.70 3.54 125 0.73 2.96 cut #8 incomplete
-----------------------------------------------------------------------
cut #9 previously reported
3 veins 6.00 2.24 213 0.78 2.91 and incomplete
-----------------------------------------------------------------------
4 veins 6.55 9.96 300 1.92 2.82 cut #10 partially reported
-----------------------------------------------------------------------
3 veins 5.00 2.52 144 1.52 8.35 cut #11 missing one vein
-----------------------------------------------------------------------
2 veins 5.20 2.97 290 1.71 5.94 cut #12 missing one vein
-----------------------------------------------------------------------
1 vein 4.50 5.69 121 1.65 2.23 cut #13 incomplete
-----------------------------------------------------------------------
2 veins 3.70 4.88 81 0.92 2.22 cut #14 incomplete
-----------------------------------------------------------------------
2 veins 2.80 3.53 273 2.80 4.23 cut #15
-----------------------------------------------------------------------
2 veins 1.50 7.34 159 1.48 4.91 cut #16
-----------------------------------------------------------------------
-----------------------------------------------------------------------
Over 70
meters 5.25 4.29 161 1.37 3.19
-----------------------------------------------------------------------
Notes to above table:
The cuts missing one vein are those where a vein was already partially mined and it could not be sampled at that specific location. The samples marked as incomplete are those where a portion of the cut could not be sampled because it would have been included in support pillars. Those previously reported were the initial discovery reported on August 25, 2006. However, cut #10 was partially reported as one more vein was included in the cut since August 25, 2006.
Updated summary of known facts:
The facts pertaining to this recent discovery and how it relates to the other sections of the mine must be clearly emphasized in order to understand the scope of the geological units being dealt with and corresponding significance to the Company.
Based on sampling and drilling assays harvested to date, the following can be summarized:
A) The system as defined now extends vertically for 450 meters (1,476 feet) from level 12 down to level 18 and beyond. This height could continue to increase significantly as we have yet to test in either direction, upward and downward, beyond what we have reported on to this point;
B) Confirmation that the stockwork zone on level 17.5 and 18 has a width of over 26 meters (85 feet), which includes an intercept of 14.8 metres (48.6 feet) of width grading 5.13 g/t Au, 22 g/t silver (Ag), 0.45 per cent lead (Pb) and 0.5 per cent zinc (Zn);
C) The new discovery on Level 15 has a 5.25 meters (17.2 feet) average width;
D) The zone on Level 15 has a current lateral extension of 70 meters (230 feet) and further development work is underway to determine the full extent of the zone;
"The Company is pleased with the latest results from the new development on level 15. This recent discovery is from an entirely new section of the mine and once this information is integrated into our database the Company expects a positive impact to its resources. Preparations to mine from level 15 are nearly completed and required minimal capital expenditures given that all the necessary infrastructure was already in place," noted Michel Roy, President and Chief Executive Officer of ECU Silver Mining.
Currently, we are working on level 15 to continue to test the length of that zone and we are also driving a major cross-cut on level 18. The Company expects to have more results shortly.
Mr. Michel Roy, P. Geo., a "qualified person" within the meaning of NI 43-101, prepared the technical information disclosed in this news release.
All widths are true widths. Samples were assayed at ERSA, in Torreon, Coahuila, Mexico. This laboratory is currently in the process of being certified. Property specific quality control samples were inserted at regular intervals in the sample sequence and the Company does check assays routinely at other certified laboratories.
ECU Silver Mining Inc is a junior Gold, Silver, Zinc and Lead producer in the prolific mining district of Velardena, Mexico where historically over 500,000 ounces of gold and 250,000,000 ounces of silver have been mined. Full scale production began in May 2005 at the Company's Santa Juana mine.
Statements in the release that are "forward-looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. We undertake no duty to update any forward-looking statement to conform the statements to actual results or changes in our expectations.
Head Office
Rouyn-Noranda
Quebec, Canada
J9Y 1G9
Tel : (819) 797-1210
Fax : (819) 797-1214
Corporate Office
J. I. Jimenez 663
colonia Los Angeles
Torreon, Coahuila,
Mexico, 27000
Tel: (01152)-871-717-8633
Fax: (01152)-871-718-5025
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Contacts:
ECU Silver Mining Inc.
Michel Roy
President and Chief Executive Officer
Cell: 011-52-871-727-1061
ecu@ecu.ca
http://www.ecu.ca
--------------------------------------------------------------------------------
Source: ECU Silver Mining Inc.
KGBC - Konigsberg Updates Shareholders
Tuesday September 12, 4:57 pm ET
RICHMOND HILL, ON--(MARKET WIRE)--Sep 12, 2006 -- Konigsberg Corporation (OTC BB:KGBC.OB - News) ("Konigsberg" or the "Company") is pleased to announce that the company has issued 500,000 shares of Konigsberg Corporation and completed property payments to Sydney Resource Corp with regard to the 50/50 JV in the Yoquivo Au-Ag property located in Chihuahua State, Mexico ("Yoquivo Au-Ag Property").
The remaining 500,000 shares were issued today, and officially complete all obligatory property payments to Sydney Resource Corp, including US $200,000 cash and 1,000,000 shares of Konigsberg Corporation.
"Konigsberg's 2006 Exploration Program on the Yoquivo Au-Ag property is well under way, and initial exploration details should be disclosed shortly," reported Konigsberg's President Adam Cegielski.
The company would also like to inform shareholders that the corporate head office has moved to Richmond Hill from Oakville Ontario. The new mailing address is 70 East Beaver Creek Road, Unit 30, Richmond Hill, Ontario, L4B 3B2. The new company contact number is now (905) 882-7044, and fax number is (905) 882-7054.
ABOUT THE COMPANY
Konigsberg's corporate website can be found at www.KonigsbergCorp.com. Details of the Yoquivo Au-Ag Property can be found under the Projects section of the website. A detailed PowerPoint presentation is also available on the company home page under the Quick Link section. Shareholders are advised to sign up to the company e-mail distribution list in order to stay up to date with company developments.
Konigsberg Corporation ("Konigsberg") (OTC BB:KGBC.OB - News) is a mineral exploration company focused on Gold-Silver exploration in the Sierra Madre Occidental Gold-Silver Province of Mexico. The Sierra Madre Occidental Gold Province is the primary gold/silver trend in Mexico. Konigsberg has entered into a 50/50 joint venture with Sydney Resource Corp. on the 2500 hectare Yoquivo Au-Ag Property in the Yoquivo District, Chihuahua State, Mexico.
Forward-Looking Statements:
Except for statements of historical fact, the information presented herein may contain forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Konigsberg Corporation has little or no control.
Distributed by Filing Services Canada and retransmitted by Market Wire
Contact:
Adam Cegielski
President
Tel: +1 905 882 7044
--------------------------------------------------------------------------------
Source: Konigsberg Corporation
SMI - SMIC Denies Allegations and Files Cross-Complaint Against TSMC
Wednesday September 13, 12:18 am ET
SHANGHAI, China, Sept. 13 /Xinhua-PRNewswire/ -- Semiconductor Manufacturing International Corporation (NYSE: SMI - News; SEHK: 981 - News; "SMIC" or the "Company") announced today that in addition to filing a response strongly denying the allegations of Taiwan Semiconductor Manufacturing Company Ltd ("TSMC") in the United States lawsuit, SMIC filed a Cross-Complaint against TSMC, seeking, amongst other things, damages for TSMC's breach of contract and breach of implied covenant of good faith and fair dealing.
In the Cross-Complaint, SMIC sets out in detail the background of why SMIC's leading role in Mainland China poses a substantial threat to competitors like TSMC. It describes how TSMC, rather than compete in the marketplace, has undertaken a concerted effort since the previous lawsuits to discredit SMIC by making unfair and misleading accusations; how SMIC takes its obligations under the Settlement Agreement seriously and fully complied with the agreement; how TSMC did not voice any complaint for a period of over 17 months, until July 2006, after SMIC succeeded in meeting a number of major business and technical milestones during Q2 2006; how TSMC failed to negotiate or act in good faith, and how TSMC used the lawsuit and subsequent campaign to repeat its previous campaign to disrupt SMIC's business and valued relationships with its customers.
SMIC will vigorously pursue the Cross-Complaint and the defence to TSMC's lawsuit in order for the California court, upon full consideration of all evidence, to dismiss TSMC's claims and grant judgment in favour of SMIC. SMIC would like to thank its customers, partners, investors and other friends for their support to SMIC and reassure them that this lawsuit will not distract it from its mission to provide world class technologies and services and to achieve outstanding and rewarding performance, and its commitment to play a constructive role in the semiconductor industry. SMIC welcomes fair competition and participation by other companies in the development of Mainland China semiconductor industry, and urges TSMC to act fairly and reasonably.
About SMIC
SMIC (NYSE: SMI - News; SEHK: 981 - News) is one of the leading semiconductor foundries in the world and the largest and most advanced foundry in Mainland China, providing integrated circuit (IC) manufacturing service at 0.35mm to 90nm and finer line technologies. Headquartered in Shanghai, China, SMIC operates three 200mm fabs in Shanghai and one in Tianjin, and one 300mm fab in Beijing, the first of its kind in Mainland China. SMIC has customer service and marketing offices in the U.S., Italy, and Japan as well as a representative office in Hong Kong. For additional information, please visit http://www.smics.com .
For more information, please contact:
SMIC Shanghai
Reiko Chang
SMIC Public Relations Department
Tel: +86-21-5080-2000 x10544
Email: PR@smics.com
SMIC Hong Kong
Mei Fung Hoo
Tel: +852-2537-8480
Email: MeiFung_Hoo@smics.com
Strategic Financial Relations Limited
Veron Ng
Tel: +852-2864-4831
Email: veron@strategic.com.hk
Joanne Lam
Tel: +852-2864-4816
Email: joanne@strategic.com.hk
--------------------------------------------------------------------------------
Source: Semiconductor Manufacturing International Corporation
Refueling the Next Refi-Boom: Adjustment of $1.3 Trillion in ARMs About to Devastate Homeownership Dream for Millions
Wednesday September 13, 1:00 am ET
SEATTLE, Sept. 13 /PRNewswire/ -- Imagine being full of stress and anxiety from the time you wake up in the morning to when you go to bed at night. Tragically millions of homeowners with Adjustable Rate Mortgages (ARMs) don't have to imagine this. They're living the nightmare every day.
As the fixed-rates on $1.3 Trillion in ARMs come up for adjustment, homeowners are worried sick at the prospect of payments skyrocketing to unaffordable levels. Losing the family home will be a brutal reality for many. For others the only option will be to throw away thousands of dollars by being forced to join the next refi-boom.
"No matter which way you look at the statistics, the odds were stacked against borrowers right from the beginning," says Consumer Advocate Harj Gill.
ARMs offered a lower fixed-rate in the early years of the loan compared to conventional mortgages. Many consumers saw this as an opportunity to buy into the American Dream. Their nightmare is just beginning as they try to sell their way out of their predicament before they default. But with interest rates back up, potential buyers are being squeezed out of the market. Home sales are slowing and inventories climbing nationwide. The best-case scenario for this group is to sell early enough before others flood the market and push down prices.
On the other hand, Consumer Advocate Gill warns, "Those ARM borrowers lucky enough to refinance are also under tremendous pressure right now." He predicts that without proper knowledge and guidance they are vulnerable to exploitation. "If they don't get it right this time, they'll be put straight into another exotic mortgage and right back on the refi-merry-go-round."
To assist borrowers with ARMs, Consumer Advocate Gill has prepared a Critical Consumer Report that outlines step-by-step what they must do to save their homes. This Report is available for download through the Consumer Information Center at www.MortgageFreeUSA.com .
Meanwhile he is also deeply concerned about the tragic neglect of homeowners by mortgage industry professionals. "We have an unregulated industry where loan officers are under no obligation to inform borrowers about the devastating long-term ramifications of the loans they are sold, hence the current disaster," he explains.
His plea to mortgage industry professionals is to, "Show some compassion." He adds, "You've already made billions off of innocent homeowners by financing them into exotic mortgages. Now do the right thing and help them. Treat them with dignity rather than a meal ticket."
"We have to care for these people because no one else gives a damn," he concluded.
For those ethical and reputable loan officers, realtors and brokers that want to stand out from their peers, Consumer Advocate Gill is inviting them to join his list of Approved Industry Professionals so he can put homeowners in contact with them. This is just one of the many Community Services provided for both consumers and industry professionals through the Consumer Information Center at www.MortgageFreeUSA.com.
--------------------------------------------------------------------------------
Source: American Mortgage Educators, Inc.,
IVTA - InfoVista Repurchases 700,000 Shares Under Share Buy-Back Program
Wednesday September 13, 2:00 am ET
PARIS, France and HERNDON, Virginia, September 13 /PRNewswire-FirstCall/ -- InfoVista (Euronext: IFV, ISIN: FR0004031649, NASDAQ: IVTA), the leading service-centric performance management software company, today announced that the Company completed a transaction to purchase a block of 700,000 ordinary shares of InfoVista SA. The purchase was conducted as part of the Company's share repurchase program, approved by the Shareholders' Meeting of December 9, 2005.
Following this transaction, the Company owns approximately 1.9 million treasury shares, which represents less than 10% of all shares outstanding.
About InfoVista
InfoVista is the Service-Centric Performance Management Software Company that assures the optimal delivery of business-critical IT services. Driven by a uniquely adaptive and real-time technology foundation, InfoVista solutions improve business effectiveness, reduce operating risk, lower cost of operations, increase agility and create competitive advantage. Eighty percent of the world's largest service providers as ranked by Fortune®, as well as leading Global 2000 enterprises, rely on InfoVista to enhance the business value of their technology assets. Representative customers include ABN AMRO, Allstream, Banques Populaires, AXA, Banque de France, Bell Canada, British Telecom, Broadwing Communications, Cable & Wireless, Com Hem, Defense Information Systems Agency (DISA), Deloitte, Deutsche Telekom, France Telecom, Savvis Corporation, SingTel, Telefonica, and US Cellular. A Software Magazine 500 company, InfoVista stock is traded on the NASDAQ (IVTA) and on Eurolist by Euronext (FR0004031649). For more information about the company, please visit www.infovista.com.
Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this news release are "forward looking statements." These statements involve risks and uncertainties which could cause actual results to differ materially from those in such forward-looking statements; including, without limitation, risks and uncertainties arising from the rapid evolution of our markets, competition, market acceptance of our products, our dependence upon spending by the telecommunications industry and our ability to develop and protect new technologies. For a description of other factors which might affect our actual results, please see the "Risk Factors" section and other disclosures in InfoVista's public filings with the US Securities & Exchange Commission and French Autorite des Marches Financiers. Readers of this news release are cautioned not to put undue reliance on any forward-looking statement. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
InfoVista is the registered trademark of InfoVista, S.A.
--------------------------------------------------------------------------------
Source: InfoVista
ACAM / ACAMF - Acambis reports positive newsflow across all areas of the business
Wednesday September 13, 2:02 am ET
Cambridge, UK--(MARKET WIRE)--Sep 13, 2006 -- Acambis reports positive newsflow across all areas of the business
Cambridge, UK and Cambridge, Massachusetts - 13 September 2006 - Acambis plc (Acambis or the Company) (LSE: ACM, NASDAQ: ACAM) announces its results for the three and six months ended 30 June 2006.
Key points:
- Smallpox franchise activities coming to fruition:
- ACAM2000:
* Agreement on new $30m supply order (see separate
press release)
* Negotiations continue on long-term warm-base
manufacturing contract
- MVA3000:
* International Trade Commission judge rules in
Acambis' favour
* Submitted response to US Government's revised RFP3
tender
* Further good progress in clinical trials; data from
Phase 2 trial in line with expectations
- R&D pipeline advancing well:
- ChimeriVax-JE: data from Phase 3 trials expected in
fourth quarter
- ChimeriVax-West Nile: encouraging data from Phase 2
trial
- C. difficile: encouraging results from Phase 1 trial in
elderly subjects
- Universal pandemic flu vaccine - plans on track for
Phase 1 trial in early 2007
- ARILVAX:
* Acambis to receive $19m from Novartis as settlement
payment, as announced yesterday
* Acambis retains option to negotiate global rights to
product
- Intervet Inc. launches PreveNile product in US to prevent
West Nile in horses. PreveNile uses ChimeriVax technology
under licence from Acambis
- Increase in 2006 predictable revenue guidance to around
GBP30m, including new ACAM2000 supply order
Key trading highlights
Three months ended Six months ended
30 June 30 June
2006 2005 2006 2005
Revenue GBP4.6m GBP6.4m GBP10.6m GBP12.4m
R&D costs GBP10.5m GBP7.5m GBP20.3m GBP14.7m
Loss before tax GBP(11.5)m GBP(7.0)m GBP(22.9)m GBP(12.8)m
Basic loss per share (11.4)p (4.4)p (21.9)p (8.5)p
Basic loss per ADR $(0.42) $(0.16) $(0.81) $(0.30)
ADVERTISEMENT
Gordon Cameron, Chief Executive Officer of Acambis, said:
"After many months of determined effort, we are delighted to be announcing encouraging progress across all areas of our business today. Agreement on the new ACAM2000 supply order from the US Government has significantly bolstered our smallpox franchise and the positive ruling at the ITC has vindicated our view on the MVA litigation. Our development pipeline continues to make good progress with positive clinical news on two of our lead vaccine programmes. With the balance sheet also strengthened following the ARILVAX settlement with Novartis, the outlook for Acambis is much improved as we move through the second half of the year."
Chairman's statement
OVERVIEW
At the beginning of 2006, we laid out several goals for the year. I am very pleased that we are able to report news of progress towards many of those goals.
As announced today in a separate press release, I am delighted to report that the US Government has agreed to order an additional 10 million doses of ACAM2000 smallpox vaccine, which is worth approximately $30m. We expect to deliver the doses in the fourth quarter of 2006. As a result, we are starting activities to establish a warm-base manufacturing capability in the US and are in advanced negotiations to finalise the long-term, warm-base manufacturing contract, which is now expected to be awarded following licensure of ACAM2000.
Discussions are also continuing with the US Government in the process to tender for a Modified Vaccinia Ankara (MVA) smallpox vaccine contract. In July, the Government requested additional information, which we submitted in mid-August, and indicated that, thereafter, its next step would be to complete discussions and request Final Proposal Revisions.
As announced on 7 September, we received a positive ruling in the MVA-related litigation. In the International Trade Commission (ITC) case, the administrative law judge ruled in Acambis' favour having invalidated each of the patent claims asserted against Acambis and denied BN's request for an exclusionary order. This decision supports our long-held view-and the view of many experts in the field-that BN has no valid patent claims. Throughout this process, we have strongly asserted our belief in our freedom to operate in the MVA field and we have now received an emphatic decision in our favour.
We continue to make good progress with encouraging data emerging from each of our clinical-stage R&D programmes. This includes results from a Phase 2 trial of MVA3000 in July, our ongoing Phase 2 trial of ChimeriVax-West Nile announced on 12 September and preliminary data from a Phase 1 trial in elderly subjects of our vaccine against Clostridium difficile (C. difficile) reported today. Data are also expected in the coming months from Phase 3 trials of our ChimeriVax-JE vaccine.
In addition, as announced yesterday, we have successfully resolved our dispute with Novartis over the ARILVAX(TM) yellow fever vaccine. Novartis has agreed to pay Acambis $19m (c. GBP10m) in cash to terminate the ARILVAX agreement that was established in 1999.
We have also decided to deregister from the US Securities and Exchange Act of 1934 and to delist Acambis' stock from NASDAQ. We believe the listing is no longer in shareholders' interests, particularly in the light of the additional reporting obligations and related costs imposed under Sarbanes-Oxley. We believe that the Combined Code and other UK regulations have sufficiently rigorous and more balanced governance requirements to give shareholders comfort in our management systems and that the Sarbanes-Oxley requirements are both burdensome and expensive for a company such as Acambis.
SMALLPOX FRANCHISE UPDATE
ACAM2000: warm-base manufacturing activities initiated following agreement on $30m order
The aim of the warm-base manufacturing programme is to provide the US with access to ACAM2000 smallpox vaccine production capability entirely in the US. To achieve this, all stages of the bulk production process are being transferred to our Canton, MA facility, and lyophilisation and fill/finish activities will take place at our Rockville, MD facility.
Following several months of negotiations, the US Government has agreed to place a $30m supply order with us, which will enable us to commence ACAM2000 warm-base manufacturing activities. The US Centers for Disease Control and Prevention (CDC), which manages the US's Strategic National Stockpile (SNS), has agreed to procure an additional 10 million doses under the existing ACAM2000 supply contract, under which we produced and delivered 182.5 million doses of ACAM2000 for the SNS. We expect to supply the new 10 million-dose order from our existing vaccine inventory in 2006. Following the CDC's agreement to place the new order, we are initiating warm-base manufacturing activities.
In addition, advanced negotiations are continuing to finalise the long-term, warm-base manufacturing contract, which is expected to be awarded following licensure of ACAM2000. A Biologics License Application (BLA) for ACAM2000 is currently being reviewed by the US Food and Drug Administration (FDA). A "First Action Due Date" of 14 February 2007 has been set by the FDA.
MVA3000: response to US Government revised RFP3 tender submitted
We are continuing to pursue a contract to supply the US Government with doses of MVA attenuated smallpox vaccine under Project Bioshield. As we have previously reported, following clarification by the FDA of the requirements to achieve an Emergency Use Authorization (EUA), the US Government amended its RFP in July, following which we provided additional information, as requested, in mid-August. The next stage will be for the US Government to request Final Proposal Revisions.
In July, we published preliminary results from a randomised, double-blind, placebo-controlled Phase 2 trial. This tested multiple dose levels of MVA3000 against placebo and, for the first time, in groups of both "vaccinia naive" subjects and individuals who had previously been vaccinated against smallpox. The results were very encouraging, with 75% of subjects seroconverting (i.e., experiencing a four-fold increase or above in neutralising antibodies to vaccinia virus) after two doses, including 88% of previously vaccinated subjects seroconverting at the highest dose level after two doses. No subjects experienced vaccine-related serious adverse events and most of the adverse events were mild or moderate in nature.
MVA litigation: successful defence of freedom to operate at ITC
On 7 September, the judge at the ITC published his Initial Determination. In summary the judge:
- invalidated each of the patent claims asserted by BN
against Acambis
- denied BN's request for an exclusionary order that would
stop importation to the US of MVA3000 by Acambis; and
- ruled that Acambis had infringed certain claims in two BN
patents. However, given that the patent claims in question
were found invalid, the finding of infringement has no
practical effect.
Acambis has maintained since the start of the litigation that the patent claims asserted against Acambis were invalid. We are gratified that the ITC judge agreed with that understanding in his initial determination. The factual and legal rationale supporting the determination is still confidential. Once this determination is made public, it will be readily apparent that the judge's decision invalidating the patent claims is consistent and well reasoned. We anticipate the public version of the determination will be released in the next several weeks. In order to be able to provide the details from that determination as soon as possible, we have already authorised the ITC to release the initial determination with no material redactions.
BN can petition for review of this decision by a panel of ITC Commissioners, from which a Final Determination would be completed by mid-December.
In the case brought by BN against Acambis in Delaware, the judge recently granted Acambis' motion to dismiss BN's trade secret claims. As with the ITC decision on the same issue, this decision was the result of a mandatory arbitration clause in a confidential disclosure agreement between Acambis and BN that requires any such disputes between the two companies to be settled in arbitration in Frankfurt, Germany under the rules of the International Chamber of Commerce. This focuses the scope of the Delaware case on questions of improper conversion, deceptive trade practices and unfair competition. This case generally centres around BN's claim that the US National Institutes of Health (the Government agency with whom Acambis and BN have their existing contracts) was not authorised to distribute its strain of MVA to Acambis and other companies for commercial purposes. Acambis received a strain of MVA from the NIH and has employed it in each of its MVA-related contracts to date. Although it has alleged wrong-doing by the US Government, BN has restricted its claims to date directly against only Acambis. Acambis sought to add additional counterclaims against BN, which the judge denied on the basis that they were not directly related to the other allegations and not on the merits of those counterclaims. Acambis is free to bring such counterclaims in another case in Delaware.
In Europe, we and Baxter have filed oppositions with the European Patent Office (EPO) to oppose the patent issued to BN in December 2005. The nine-month timetable for lodging oppositions ends at the end of September, following which the EPO will undertake its review. As BN's European patent is based on claims that are very similar to those used in the US, we believe that this patent will also be invalidated. There has been no change in the case brought by BN against Acambis in Austria.
We remain confident of our ability to defend our freedom to operate in all these cases.
RESEARCH AND DEVELOPMENT UPDATE
We are continuing to make good progress with our key proprietary R&D programmes.
ChimeriVax-JE: aiming to develop an improved, second-generation vaccine
We have completed vaccination of all 2,800 subjects in two Phase 3 trials of ChimeriVax-JE in the US and Australia. Serological testing and data analysis are ongoing, and we aim to provide preliminary data in the fourth quarter. We intend to apply for licensure in our key target markets and to use this as the basis for licensure in other endemic countries and for use as a travel vaccine. We also plan to initiate a paediatric trial in India shortly.
Today, the existing JE vaccine market is estimated to be worth $100-150m per annum, the vast majority of which relates to public and private markets in endemic countries. There is significant scope to expand the overall JE vaccine market by providing a single-dose, convenient and affordable vaccine. This requirement was reiterated by the World Health Organization in its recently published JE policy document, which reinforced that "vaccination is the single most important control measure"1 for JE. ChimeriVax-JE is ideally suited to this need: data to date support its use as a single-dose vaccine for initial disease protection with rapid onset and up to two years' duration of immunity; an improved safety profile compared with the existing licensed mouse-brain vaccine; and the high-yield production process ensures cost-effective manufacture at a scale sufficient to meet the needs of both the endemic and travel markets.
In addition to our partnership with Bharat Biotech in India, we are actively pursuing partnerships to support licensure and marketing of ChimeriVax-JE in other markets.
C. difficile: encouraging data from Phase 1 trial in target population
Hospital-acquired infections caused by C. difficile bacteria are an increasing problem in many developed countries, including the US, Canada and the UK. In July, the UK's Health Protection Agency published data from its second year of mandatory reporting of C. difficile-associated disease (CDAD) and recorded a 17% increase compared with 2005. There are known to be several risk factors for CDAD, including treatment with antibiotics, age, duration of hospital stay and prior C. difficile infection.
Results of a Phase 1 trial of our C. difficile vaccine in young healthy adults were announced in February 2006. We have now completed a Phase 1 trial in healthy elderly subjects aged 65 years and above, the main target population for the vaccine. The study was a randomised, double blind, placebo-controlled study to evaluate the safety, tolerability and immunogenicity of the C. difficile vaccine at different dose levels. The study included 48 healthy elderly subjects: 36 received our C. difficile vaccine and 12 subjects received placebo.
The trial produced encouraging data, with 100% seroconversion to C. difficile toxin A and 75% to toxin B with the highest dose of our vaccine. There were no vaccine-related serious adverse events and the most common vaccine-related side effects were mild in nature.
We are in the process of manufacturing further clinical trial material for the next stage of clinical testing. Future clinical trials will commence in 2007.
ChimeriVax-West Nile: completion of first Phase 2 testing for human vaccine and market launch of vaccine for horses
As announced on 12 September, we have completed the first component of the Phase 2 trial of our vaccine against the West Nile virus. Acambis' is the most advanced clinical-stage West Nile vaccine candidate, being the only one to have entered Phase 2 trials.
In this first part of the Phase 2 trial, Acambis evaluated the safety, tolerability and immunogenicity of a single dose of ChimeriVax-West Nile in healthy adults aged 18-40. In total, 112 healthy adults were enrolled into this part of the randomised, double-blind, placebo-controlled trial, which tested three different dose levels of ChimeriVax-West Nile.
The primary immunogenicity endpoint in the trial was seroconversion rate, i.e., the percentage of subjects who generated neutralising antibodies at a titre of at least 1:10. Overall, more than 98% of all subjects who received ChimeriVax-West Nile seroconverted 28 days after a single vaccination. Most of the adverse events were mild in nature.
We will now proceed with the second stage of the trial, which will involve testing ChimeriVax-West Nile in a key target market-those aged 50 and over-who have been identified by the CDC as the age group most at risk of severe disease following infection with the West Nile virus.
We are seeking partnerships to support the continued development and commercialisation of ChimeriVax-West Nile beyond the end of the current Phase 2 trial.
ChimeriVax-West Nile veterinary vaccine: PreveNile launched by Intervet
Earlier this month, Intervet Inc. announced the market launch of PreveNile in the US. PreveNile, which is the first single-dose vaccine available for primary immunisation of horses against the West Nile virus, is based on our proprietary ChimeriVax technology and was licensed to Intervet Inc. by Acambis in 2003 for veterinary applications. This is the first ChimeriVax-based vaccine to be licensed. The launch triggers a milestone payment to Acambis and we will also receive royalties from sales of PreveNile.
Influenza: progressing towards IND submission
We are on track to submit an IND application to the US FDA to commence clinical testing of ACAM-FLU-A early in 2007. This is the first vaccine candidate being developed under our influenza programme and is designed as a universal vaccine to protect against all 'A' strains of influenza. As such, it could be a candidate for a pandemic influenza vaccine as all pandemics to date have been caused by "A" strains of the virus.
VIVOTIF®
Sales of Vivotif®, the oral typhoid vaccine we sell and distribute in North America, have continued to perform in line with expectations. The competitor vaccine is now well-established in the market again, having been unavailable for part of 2005. The sales in the year-to-date indicate that we have successfully retained some of the market share gained during that period.
ARILVAX(TM)
After several years of uncertainty, we have reached resolution and signed an agreement to settle the long-standing ARILVAX-related dispute with Novartis AG (Novartis). This dispute arose under an agreement that had been established in 1999 and from non-performance by predecessor companies acquired by Novartis. Under the settlement agreement, Novartis will pay $19m (c. GBP10m) to compensate Acambis and has granted Acambis an exclusive option to negotiate a licence to the worldwide rights to the ARILVAX product.
FINANCIAL REVIEW
The financial results, prepared under the Group's accounting policies based on International Financial Reporting Standards, for the three months (Q2) and six months (H1) ended 30 June 2006 are presented below. The narrative reflects a comparison of our activities in 2006 and 2005, and, unless otherwise stated, the comparative figures in parentheses relate to the equivalent period in 2005.
Trading results
Revenue in Q2 was GBP4.6m (2005 - GBP6.4m) and for H1 was GBP10.6m (2005 - GBP12.4m). The main sources of revenue were our two contracts with the NIAID for MVA3000, our fixed-price 155 million-dose smallpox contract with the CDC and product sales of Vivotif. The higher levels of revenue in 2005 reflected more intensive levels of activity on government contracts.
Cost of sales for Q2 was GBP3.3m (2005 - GBP5.0m) and for H1 was GBP7.5m (2005 - GBP8.9m) and represents costs on all of the above programmes. Our gross profit margin in Q2 was 28.3% (2005 - 21.9%) and H1 was 29.2% (2005 - 28.2%).
R&D costs in the first half of the year continued to be in line with management expectations and were consistent with the full year guidance provided in March 2006. Costs in Q2 were GBP10.5m (2005 - GBP7.5m) and in H1 were GBP20.3m (2005 - GBP14.7m), which reflects the significant investment in later-stage clinical trials, most notably Phase 3 trials for ChimeriVax-JE. In addition, process development and manufacturing work for our R&D projects continues to be recorded against R&D costs.
Sales and marketing costs in Q2 remained at GBP0.7m (2005 - GBP0.7m) and in H1 at GBP1.3m (2005 - GBP1.3m). Administrative costs in Q2 increased to GBP2.0m (2005 - GBP1.0m) and in H1 to GBP5.2m (2005 - GBP2.1m). The increase seen in Q2 is in part as a result of a further provision to support the MVA ITC litigation, however the majority of the increase seen in H1 related to previously reported one-off abortive acquisition costs incurred in the first quarter.
The pre-tax loss increased in Q2 to GBP11.5m (2005 - GBP7.0m) and in H1 to GBP22.9m (2005 - GBP12.8m) principally as a result of reduced revenues and increased R&D costs to progress the pipeline.
Balance sheet highlights
i) Cash/debtors
The short-term investments and cash balance of the Group at 30 June 2006 stood at GBP40.4m (31 December 2005 - GBP68.0m). As noted in our results for the first quarter of 2006, we saw an unusually high level of cash consumption to 31 March 2006 as, in addition to normal operating expenditures, we made large payments relating to the Phase 3 trials for ChimeriVax-JE, litigation expenses relating to MVA and abortive acquisition costs. As a result, the level of cash expenditure declined in Q2. Trade and other receivables decreased to GBP5.0m at 30 June 2006 (31 December 2005 - GBP20.6m), in part as a result of payments received in the first quarter of 2006 from the NIAID, under the MVA3000 contract, for the shipment of 500,000 doses of MVA3000 vaccine.
ii) Inventory/current liabilities
Inventory levels remained constant at GBP3.4m at 30 June 2006 (31 December 2005 - GBP3.6m). Inventory principally represents work-in-progress and finished goods in relation to our ACAM2000 and Vivotif vaccines.
Current liabilities at 30 June 2006 reduced significantly to GBP23.5m (31 December 2005 - GBP46.8m), principally due to large trade creditor payments made during the first quarter of 2006, most notably to Baxter for the production of the 500,000 doses of MVA3000.
iii) Lease financing and overdraft facilities
The combined balance on our US dollar-denominated financing facilities reduced in the six months to 30 June 2006 to GBP10.1m (31 December 2005 - GBP12.8m) as a result of the lease-financing facility continuing to be paid down. The balance on this facility was GBP4.9m at 30 June 2006 (31 December 2005 - GBP7.2m). The balance on the ARILVAX overdraft facility at 30 June 2006 was GBP3.8m (31 December 2005 - GBP4.0m). The remaining balance at 30 June 2006 was GBP1.4m (31 December 2005 - GBP1.6m) which relates to the discounted value of the future payments for the Rockville fill/finish facility acquired in 2005, payable between 2006 and 2017.
BOARD CHANGES
At the end of this month, I will stand down as Chairman of Acambis after more than seven years in the role. I will also leave the Board, having served in a non-executive capacity for more than a decade. I am proud of what the Board, management and employees of Acambis have achieved during that time and am particularly pleased to see the significant efforts of recent months and years coming to fruition, highlighted by the latest announcements. I am delighted that, in handing over to Dr Peter Fellner, the Chairmanship role is being taken by someone with such extensive industry knowledge and a remarkable track record. I know that, between him, Gordon Cameron and the rest the Board, I leave Acambis in very capable hands.
My final task as Chairman is to acknowledge the immeasurable contribution of Dr Thomas Monath to Acambis, and its US predecessor, OraVax, in the last 14 years. We announced in May that Tom would be standing down as Chief Scientific Officer and we were pleased to retain his direct involvement as a Non-executive Director until the beginning of September. I know that Tom continues to take a keen interest in Acambis' affairs, particularly given his personal commitment to the ChimeriVax and ACAM2000 programmes. I would like to record the Board's thanks for the passion and innovation he has contributed to the Company.
OUTLOOK AND GUIDANCE
As a result of recent changes, including the new US Government ACAM2000 order and the rescheduling of activities for our existing US Government MVA contract, we are raising our guidance for 2006 predictable revenues from below GBP20m to around GBP30m and revising the gross profit margin upwards. In addition, we will receive $19m (c. GBP10m) of cash from Novartis for the ARILVAX settlement agreement.
We will continue to drive to achieve our remaining goals between now and the end of the year. We intend to publish data from our ChimeriVax-JE Phase 3 trials, and to initiate work to develop a paediatric database in India. We also look forward to resolution of the US Government MVA procurement process, which, together with the recent positive developments with ACAM2000 warm-base manufacturing, the ARILVAX settlement and the ITC litigation removes a number of near-term uncertainties that have been impacting the Company recently. This creates a stronger platform for Acambis' future.
-ends-
References
(1) WHO Position Paper, 25 August 2006
A meeting and conference call for analysts will be held today at 9.00 am BST. For details, contact Mo Noonan at Financial Dynamics on telephone number +44 (0) 20 7269 7116. An instant replay of the call will be available until 20 September 2006 on telephone number UK: +44 (0) 20 7365 8427 and US: +1 617 801 6888. The pin code is 11414363. A webcast of the call will also be available via Acambis' website at www.acambis.com. The webcast replay will be available for 12 months until 13 September 2007.
Contacts
Acambis plc Today Thereafter
Gordon Cameron, +44 (0) 20 7831 3113 +44 (0) 1223 275 300
Chief Executive
Officer
David Lawrence, +44 (0) 20 7831 3113 +44 (0) 1223 275 300
Chief Financial
Officer
Lyndsay Wright, VP, +44 (0) 20 7831 3113 +44 (0) 1223 275 300
Communications and
IR
Financial Dynamics
David Yates/Anna +44 (0) 20 7831 3113
Keeble
About Acambis
Acambis is a leading developer of vaccines to prevent and treat infectious diseases. Recognised internationally as the leading producer of smallpox vaccines, Acambis is developing an investigational smallpox vaccine, ACAM2000, and is manufacturing emergency-use stockpiles of this investigational vaccine for the US Government and other governments around the world. It is also developing an attenuated smallpox vaccine, MVA3000, under contracts with the US National Institutes of Health. Acambis' US-based subsidiary Berna Products Corporation markets Vivotif®, the world's only licensed oral typhoid vaccine, in North America. Acambis' investigational vaccine against Japanese encephalitis, ChimeriVax-JE, is undergoing Phase 3 clinical testing. It also has the most advanced investigational vaccine against the West Nile virus, which has spread to 48 US States since 1999, and a vaccine against Clostridium difficile bacteria, a leading cause of hospital-acquired infections.
Acambis is based in Cambridge, UK and Cambridge, Massachusetts, US. Its primary listing is on the London Stock Exchange (ACM) and its shares are listed in the form of American Depositary Receipts on NASDAQ (ACAM). More information is available at www.acambis.com.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:
The statements in this news release that are not historical facts are forward-looking statements that involve risks and uncertainties, including the timing and results of clinical trials, product development, manufacturing and commercialisation risks, the risks of satisfying the regulatory approval process in a timely manner, the need for and the availability of additional capital. For a discussion of these and other risks and uncertainties see "Risk management" in the Company's 2005 Annual Report and "Risk factors" in its Form 20-F, in addition to those detailed on the Company's website and in the Company's filings made with the Securities and Exchange Commission from time to time. These forward-looking statements are based on estimates and assumptions made by the management of Acambis and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results or experience could differ materially from the forward-looking statements.
Results for the six months ended 30 June 2006
Group income statement
Three months Three months
ended ended
30 June 30 June
2006 2005
(unaudited) (unaudited)
GBPm GBPm
Revenue 4.6 6.4
Cost of sales (3.3) (5.0)
_____ _____
Gross profit 1.3 1.4
Research and development costs (10.5) (7.5)
Sales and marketing costs (0.7) (0.7)
Administrative costs (2.0) (1.0)
Other operating income: Fair value - -
of shares received for grant of
licence _____ _____
Operating loss (11.9) (7.8)
Finance income 0.5 1.0
Finance costs (0.1) (0.2)
_____ _____
Loss on ordinary activities before (11.5) (7.0)
taxation
Taxation: UK (0.7) (1.1)
Taxation: Overseas - 3.4
_____ _____
Loss on ordinary activities after (12.2) (4.7)
taxation
_____ _____
Basic and diluted loss per share (in (11.4)p (4.4)p
pence)
Basic loss per ADR (in $) (note 2) $(0.42) $(0.16)
Weighted average number of ordinary 107,275,723 107,162,576
shares in issue - basic and diluted
Six months Six months Year
ended ended ended
30 June 30 June 31 December
2006 2005 2005
(unaudited) (unaudited) (audited)
GBPm GBPm GBPm
Revenue 10.6 12.4 40.9
Cost of sales (7.5) (8.9) (27.6)
_____ _____ _____
Gross profit 3.1 3.5 13.3
Research and development (20.3) (14.7) (34.1)
costs
Sales and marketing costs (1.3) (1.3) (2.6)
Administrative costs (5.2) (2.1) (7.7)
Other operating income: Fair - - 0.4
value of shares received for
grant of licence _____ _____ _____
Operating loss (23.7) (14.6) (30.7)
Finance income 1.1 2.2 4.0
Finance costs (0.3) (0.4) (1.0)
_____ _____ _____
Loss on ordinary activities (22.9) (12.8) (27.7)
before taxation
Taxation: UK (0.7) (0.7) (1.7)
Taxation: Overseas 0.1 4.4 2.4
_____ _____ _____
Loss on ordinary activities (23.5) (9.1) (27.0)
after taxation
_____ _____ _____
Basic and diluted loss per (21.9)p (8.5)p (25.2)p
share (in pence)
Basic loss per ADR (in $) $(0.81) $(0.30) $(0.87)
(note 2)
Weighted average number of 107,274,356 107,149,383 107,211,367
ordinary shares in issue -
basic and diluted
Group balance sheet as at 30 June 2006
As at As at As at
30 June 30 June 31 December
2006 2005 2005
(unaudited) (unaudited) (audited)
GBPm GBPm GBPm
Non-current assets
Goodwill 14.7 15.5 14.9
Other intangible assets 3.7 4.1 4.2
Property, plant and 16.7 21.3 19.8
equipment
Deferred tax asset - - 0.3
Financial assets: 0.6 - 0.6
available for sale
investments
Other non-current assets 0.3 - -
_____ _____ _____
36.0 40.9 39.8
Current assets
Inventory 3.4 5.2 3.6
Current tax assets 0.2 4.6 1.3
Trade and other 5.0 11.2 20.6
receivables
Financial assets: 0.1 - 0.1
derivative financial
instruments
Liquid investments 10.0 17.8 18.8
Cash and cash equivalents 30.4 64.4 49.2
_____ _____ _____
49.1 103.2 93.6
Current liabilities
Financial liabilities:
- short-term borrowings (3.8) (3.9) (4.0)
- short-term financial (5.0) (3.4) (7.2)
liabilities
Trade and other payables (6.7) (8.0) (16.1)
Accruals and deferred (4.4) (19.1) (14.1)
income
Income tax payable (1.5) - (3.1)
Provisions (2.1) - (2.3)
_____ _____ _____
(23.5) (34.4) (46.8)
_____ _____ _____
Net current assets 25.6 68.8 46.8
_____ _____ _____
Total assets less current 61.6 109.7 86.6
liabilities
Non-current liabilities
Investment in Joint (0.3) (0.3) (0.3)
Venture
Long-term financial (1.3) (6.6) (1.6)
liabilities
Other non-current - (0.5) -
liabilities
Deferred tax liabilities (1.5) (1.6) (1.7)
_____ _____ _____
(3.1) (9.0) (3.6)
_____ _____ _____
Net assets 58.5 100.7 83.0
_____ _____ _____
Shareholders' equity
Share capital 10.7 10.7 10.7
Share premium 98.0 97.9 98.0
Other reserves (2.2) (0.6) (0.9)
Retained earnings (48.0) (7.3) (24.8)
_____ _____ _____
Total shareholders' equity 58.5 100.7 83.0
_____ _____ _____
Group cash flow statement
Three months Three months
ended ended
30 June 30 June
2006 2005
(unaudited) (unaudited)
GBPm GBPm
Operating activities
Loss on ordinary activities before (11.5) (7.0)
tax
Depreciation and amortisation 0.9 1.0
Decrease/(increase) in working 1.4 (3.6)
capital
Other non-cash movements (0.6) (0.3)
Net finance costs (0.4) (0.8)
Taxes (paid)/received (0.2) 0.2
_____ _____
Cash flows from operating (10.4) (10.5)
activities
Investing activities
Purchase of business operations - (0.2)
Purchase of intangibles - -
Purchase of property, plant and (0.3) (2.2)
equipment
Proceeds from sale of property, 0.5 -
plant and equipment
_____ _____
Cash flows used in investing 0.2 (2.4)
activities
Financing activities
Interest element of finance lease - (0.1)
payments
Interest paid (0.1) (0.1)
Interest received 0.6 0.9
Proceeds from issue of shares - 0.1
Purchase of own shares - -
Capital element of finance lease (0.2) (0.8)
payments
Purchase of liquid investments - -
Sale of liquid investments 6.1 3.5
_____ _____
Cash flows from financing 6.4 3.5
activities
_____ _____
Decrease in cash and cash (3.8) (9.4)
equivalents
Net foreign exchange difference 0.6 0.8
Cash and cash equivalents opening 33.6 73.0
balance
_____ _____
Cash and cash equivalents closing 30.4 64.4
balance
_____ _____
Six months Six months Year
ended ended ended
30 June 30 June 31 December
2006 2005 2005
(unaudited) (unaudited) (audited)
GBPm GBPm GBPm
Operating activities
Loss on ordinary activities (22.9) (12.8) (27.7)
before tax
Depreciation and amortisation 2.0 2.1 5.3
Decrease/(increase) in working (3.8) (0.3) (2.8)
capital
Other non-cash movements (1.0) (0.1) (0.7)
Net finance costs (0.8) (1.8) (3.0)
Taxes (paid)/received (0.9) (5.0) (0.4)
_____ _____ _____
Cash flows from operating (27.4) (17.9) (29.3)
activities
Investing activities
Purchase of business - (0.2) (1.7)
operations
Purchase of intangibles (0.1) - (0.4)
Purchase of property, plant (0.5) (2.6) (3.7)
and equipment
Proceeds from sale of 0.5 - -
property, plant and equipment
_____ _____ _____
Cash flows used in investing (0.1) (2.8) (5.8)
activities
Financing activities
Interest element of finance (0.2) (0.3) (0.6)
lease payments
Interest paid (0.1) (0.1) (0.2)
Interest received 1.3 2.0 3.8
Proceeds from issue of shares - 0.1 0.2
Purchase of own shares - - (0.2)
Capital element of finance (1.9) (1.6) (3.3)
lease payments
Purchase of liquid investments (6.1) (12.0) (34.8)
Sale of liquid investments 14.9 15.0 36.8
_____ _____ _____
Cash flows from financing 7.9 3.1 1.7
activities
_____ _____ _____
Decrease in cash and cash (19.6) (17.6) (33.4)
equivalents
Net foreign exchange 0.8 1.0 1.6
difference
Cash and cash equivalents 49.2 81.0 81.0
opening balance
_____ _____ _____
Cash and cash equivalents 30.4 64.4 49.2
closing balance
_____ _____ _____
Reconciliation of movements in Group shareholders' equity
As at As at As at
30 June 30 June 31 December
2006 2005 2005
(unaudited) (unaudited) (audited)
GBPm GBPm GBPm
Retained loss for the (23.5) (9.1) (27.0)
period
(Loss)/gain on foreign (1.3) 1.9 1.6
currency exchange
Revaluation of - - 0.1
available for sale
investments
Credit in respect of 0.3 0.5 0.8
employee share schemes
_____ _____ _____
(24.5) (6.7) (24.5)
New share capital - 0.1 0.2
subscribed
Purchase of Treasury - (0.2) (0.2)
shares
_____ _____ _____
Net decrease in (24.5) (6.8) (24.5)
shareholders' equity
Opening shareholders' 83.0 107.5 107.5
equity
_____ _____ _____
Closing shareholders' 58.5 100.7 83.0
equity
_____ _____ _____
Notes
1. Basis of preparation
The financial information for the three and six months ended 30 June 2006 and 30 June 2005 is unaudited and has been prepared in accordance with the Group's accounting policies which are based on IFRS as adopted by the European Union and the Listing Rules of the Financial Services Authority. IAS 34 'Interim Financial Reporting' has not been applied in preparing these financial results. The financial information for the year ended 31 December 2005 has been prepared under IFRS. The auditors have reviewed the results for the six months ended 30 June 2006 and their report is attached.
This summary of results does not constitute the full financial statements within the meaning of s240 of the Companies Act 1985. The 2005 financial statements, which were approved at the 2005 Annual General Meeting on 23 June 2006, have been reported on by the Company's auditors and subsequently delivered to the Registrar of Companies. The audit report was unqualified and did not contain a statement under s237(2) or s237(3) of the Companies Act 1985.
2. Loss per ADR (basic)
Each American Depository Receipt ("ADR") represents two ordinary shares. The basic loss per ADR is calculated by multiplying the loss per ordinary share by a factor of two and then multiplying by the prevailing US dollar exchange rate at the end of the relevant period. The exchange rates used are 1.8496, 1.7925 and 1.7168 for the six months to 30 June 2006, 30 June 2005 and year to 31 December 2005 respectively.
3. Directors' responsibility
The Directors are responsible for the maintenance and integrity of the Group's website. The Company notes that UK legislation governing the preparation and dissemination of financial information may differ from that required in other jurisdictions.
Independent review report to Acambis plc
Introduction
We have been instructed by the company to review the financial information for the six months ended 30 June 2006 which comprises the group income statement, group balance sheet information as at 30 June 2006, group cash flow statement, reconciliation of movements in group shareholders' equity and associated notes. We have read the other information contained in the interim report and considered whether it contains any apparent misstatements or material inconsistencies with the financial information.
Directors' responsibilities
The interim report, including the financial information contained therein, is the responsibility of, and has been approved by the directors. The Listing Rules of the London Stock Exchange require that the accounting policies and presentation applied to the interim figures should be consistent with those applied in preparing the preceding annual accounts except where any changes, and the reasons for them, are disclosed.
This interim report has been prepared in accordance with the basis set out in Note 1.
Review work performed
We conducted our review in accordance with guidance contained in Bulletin 1999/4 issued by the Auditing Practices Board for use in the United Kingdom. A review consists principally of making enquiries of group management and applying analytical procedures to the financial information and underlying financial data and, based thereon, assessing whether the disclosed accounting policies have been applied. A review excludes audit procedures such as tests of controls and verification of assets, liabilities and transactions. It is substantially less in scope than an audit and therefore provides a lower level of assurance. Accordingly we do not express an audit opinion on the financial information. This report, including the conclusion, has been prepared for and only for the company for the purpose of the Listing Rules of the Financial Services Authority and for no other purpose. We do not, in producing this report, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing.
Review conclusion
On the basis of our review we are not aware of any material modifications that should be made to the financial information as presented for the six months ended 30 June 2006.
PricewaterhouseCoopers LLP
Chartered Accountants
Cambridge
13 September 2006
This information is provided by RNS
The company news service from the London Stock Exchange
Contact:
--------------------------------------------------------------------------------
Source: Acambis PLC
ACAM / ACAMF - CDC agrees to place $30m order for Acambis' ACAM2000 smallpox vaccine
Wednesday September 13, 2:03 am ET
Cambridge, UK--(MARKET WIRE)--Sep 13, 2006 -- CDC agrees to place $30m order for Acambis' ACAM2000 smallpox vaccine
Cambridge, UK and Cambridge, Massachusetts - 13 September 2006 - Acambis plc (Acambis) (LSE: ACM, NASDAQ: ACAM) announces that it has reached agreement with the US Government that it will order a further 10 million doses of ACAM2000. The order is worth approximately $30m.
Under this new order, the US Centers for Disease Control and Prevention (CDC) has agreed to procure an additional 10 million doses under the existing ACAM2000 supply contract, under which Acambis produced and delivered 182.5 million doses of ACAM2000 for the US's Strategic National Stockpile. Acambis expects to supply the new 10 million-dose order from its existing vaccine inventory in 2006.
In addition, advanced negotiations are continuing to finalise the long-term warm-base manufacturing contract, which is expected to be awarded following licensure of ACAM2000. A Biologics License Application (BLA) for ACAM2000 is currently being reviewed by the US Food and Drug Administration (FDA). A "First Action Due Date" of 14 February 2007 has been set by the FDA.
The aim of the warm-base manufacturing programme is to provide the US with access to ACAM2000 smallpox vaccine production capability entirely in the US. To achieve this, all stages of the bulk production process are being transferred to Acambis' Canton, MA facility, and lyophilisation and fill/finish activities will take place at Acambis' Rockville, MD facility. Following the CDC's agreement to place the new $30m order, Acambis is initiating warm-base manufacturing activities.
Gordon Cameron, Chief Executive Officer of Acambis, commented:
"This agreement from the CDC clearly demonstrates the US Government's commitment to ACAM2000 warm-base manufacturing for the long term. Through this order, we can immediately start activities to bring ACAM2000 production entirely in the US. We look forward to securing a long-term warm-base manufacturing contract shortly after the expected licensure of ACAM2000 in early 2007."
-ends
Enquiries:
Acambis plc:
Gordon Cameron, Chief Executive Officer
David Lawrence, Chief Financial Officer
Lyndsay Wright, VP, Communications and IR
Tel: +44 (0) 1223 275 300
Financial Dynamics
David Yates/Anna Keeble
Tel: +44 (0) 20 7831 3113
About Acambis
Acambis is a leading developer of vaccines to prevent and treat infectious diseases. Recognised internationally as the leading producer of smallpox vaccines, Acambis is developing an investigational smallpox vaccine, ACAM2000, and is manufacturing emergency-use stockpiles of this investigational vaccine for the US Government and other governments around the world. It is also developing an attenuated smallpox vaccine, MVA3000, under contracts with the US National Institutes of Health. Acambis' US-based subsidiary Berna Products Corporation markets Vivotif®, the world's only licensed oral typhoid vaccine, in North America. Acambis' investigational vaccine against Japanese encephalitis, ChimeriVax-JE, is undergoing Phase 3 clinical testing. It also has the most advanced investigational vaccine against the West Nile virus, which has spread to 48 US States since 1999, and a vaccine against Clostridium difficile bacteria, a leading cause of hospital-acquired infections.
Acambis is based in Cambridge, UK and Cambridge, Massachusetts, US. Its primary listing is on the London Stock Exchange (ACM) and its shares are listed in the form of American Depositary Receipts on NASDAQ (ACAM). More information is available at www.acambis.com.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:
The statements in this news release that are not historical facts are forward-looking statements that involve risks and uncertainties, including the timing and results of clinical trials, product development, manufacturing and commercialisation risks, the risks of satisfying the regulatory approval process in a timely manner, the need for and the availability of additional capital. For a discussion of these and other risks and uncertainties see "Risk management" in the Company's 2005 Annual Report and "Risk factors" in its Form 20-F, in addition to those detailed on the Company's website and in the Company's filings made with the Securities and Exchange Commission from time to time. These forward-looking statements are based on estimates and assumptions made by the management of Acambis and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results or experience could differ materially from the forward-looking statements.
This information is provided by RNS
The company news service from the London Stock Exchange
Contact:
--------------------------------------------------------------------------------
Source: Acambis PLC
GEMP - Gemplus Trading Update
Wednesday September 13, 2:27 am ET
LUXEMBOURG, September 13 /PRNewswire-FirstCall/ -- Gemplus International S.A. (Euronext LU0121706294 - GEM and NASDAQ:GEMP), a world leading player in the secure card industry and a subsidiary of Gemalto N.V. (Euronext NL0000400653 - GTO), announces today that it no longer expects to meet its financial performance outlook for 2006. The Company cited market conditions that will remain challenging and uncertainties in the global economic environment. Because of the level of its integration within Gemalto, the Company will not provide further guidance on future earnings expectations on a stand-alone basis. It expects to report on October 26, 2006 its financial performance for the third quarter ending September 30, 2006.
About Gemplus
Gemplus International S.A. (Euronext: LU0121706294 - GEM and NASDAQ: GEMP) is a world leading player in the secure card industry in both revenue and total shipments (source: Gartner-Dataquest, Frost & Sullivan, Datamonitor).
Gemplus delivers a wide range of portable, personalized solutions in areas including Identity, Mobile Telecommunications, Public Telephony, Banking, Retail, Transport, Healthcare, WiFi, Pay-TV, e-government, and access control.
Gemplus's revenue in 2005 was 939 million Euros.
In June 2006, Gemplus and Axalto initiated their combination to form Gemalto, a leader in digital security.
www.gemplus.com
www.gemalto.com
For more information:
Presse Relations Investisseur
Gemplus Gemplus
Remi Calvet Céline Berthier
Mob. : +33(0)6-22-72-81-58 Tel: +41(0)22-544-5054
Email : remi.calvet@gemplus.com Email: celine.berthier@gemplus.com
(c)2006 Gemplus. All rights reserved. Gemplus, the Gemplus logo, are trademarks and service marks of Gemplus S.A. and are registered in certain countries. All other trademarks and service marks, whether registered or not in specific countries, are the property of their respective owners.
Some of the statements contained in this release constitute forward-looking statements. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activities, performance, or achievements expressed or implied by such forward-looking statements. Actual events or results may differ materially. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Factors that could cause actual results to differ materially from those estimated by the forward-looking statements contained in this release include, but are not limited to: trends in wireless communication and mobile commerce sectors; our ability to develop new technology, and the effects of competing technologies developed and expected intense competition generally in our main segments; profitability of our expansion strategy; challenges to or loss of our intellectual property rights; our ability to establish and maintain strategic relationships in our major businesses; our ability to develop and take advantage of new software and services; and the effect of future acquisitions and investments on our share price. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of such forward-looking statements. The forward-looking statements contained in this release speak only as of this release. We are under no duty to update any of the forward-looking statements after this date to conform such statements to actual results or to reflect the occurrence of anticipated results.
--------------------------------------------------------------------------------
Source: Gemalto
ADL - AMDL Retains Well Known Regulatory Affairs Firm to Assist in Seeking DR-70(R) Clearance to Market
Wednesday September 13, 5:00 am ET
TUSTIN, Calif., Sept. 13 /PRNewswire-FirstCall/ -- AMDL, Inc. (Amex: ADL - News), developer and marketer of tests for the early detection of cancer and other serious diseases, announced today that it has retained the statistical and regulatory consulting firm R. P. Chiacchierini & Associates, LLC, Rockville, Maryland, (http://www.rpcaconsulting.com) to provide additional statistical analysis for the U.S. Food and Drug Administration (FDA) to support the Company's request for clearance to market its DR-70® cancer test kit in the U.S.
R.P. Chiacchierini & Associates are experienced in all aspects of statistical consulting and regulatory affairs for device and biologic products. The Company, which has assisted more than 700 firms with their filings, employs former FDA senior management, policy makers, reviewers and other industry personnel.
Dr. Chiacchierini, President and CEO, served in various management positions with the FDA and is co-author of a number of agency guidance documents. He served as Chief Scientific Officer in the U.S. Public Health Service under Surgeon General C. Everett Koop.
"We are confident that R.P. Chiacchierini will provide the additional statistical analysis necessary for gaining clearance to market DR-70® from the FDA," said Gary Dreher, AMDL CEO. "The Company's primary objective remains receiving approval to market its DR-70® cancer test kit in the U.S., which will assist the Company's effort to market internationally."
About AMDL
AMDL, Inc. (Amex: ADL - News), headquartered in Tustin, California, is a theranostics company, involved in the detection and treatment of the same disease, cancer. AMDL is the inventor, developer and worldwide marketer through exclusive distribution agreements of the DR-70® non-invasive cancer blood test, which has demonstrated its ability to detect the presence in humans of up to 14 cancers 84 percent of the time overall. In a study published in the Journal of Immunoassay (1998, vol. 19, pp 63-72) DR-70® was shown to detect at least 13 different types of cancer (lung, breast, stomach, liver, colon, rectal, ovarian, esophageal, cervical, trophoblastic, thyroid, malignant lymphoma, pancreatic) although the sample size for 9 of the cancers was not statistically significant. Clinical trials of DR-70® have been conducted in Canada, China, Germany, Taiwan and Turkey. DR-70® can detect many kinds of cancer using a single tube of blood, eliminating the need for costly, multiple tests. AMDL also owns a combination immunogene therapy technology that is a possible treatment for those already diagnosed with cancer and could eventually be used as a vaccine to protect patients known to be at risk because of a family history for certain types of cancer. The combination therapy both builds the body's immune system and destroys cancer cells. More information about AMDL and its additional products can be obtained at www.amdl.com.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.
Contact: AMDL, Inc.
Gary L. Dreher
President & CEO
(714) 505-4460
--------------------------------------------------------------------------------
Source: AMDL, Inc.
TRYF - Model MasterCard Roll Out; Catwalk Distribution Offers Industry Debit Card
Wednesday September 13, 5:00 am ET
DELRAY BEACH, Fla., Sept. 13 /PRNewswire/ -- Catwalk Distribution in partnership with Trycera Financial (OTC Bulletin Board: TRYF.OB - News), has officially released its Model Prepaid MasterCard®, a full service financial tool designed to help professional and aspiring models and actors manage their finances smarter, faster and safer than ever before. This exclusive card combines the powers of a prepaid card and the flexibility of a checking account all rolled into one. In addition there is a rewards program offering one point for every dollar spent. The card is issued by MetaBank pursuant to license from MasterCard International, Incorporated.
"We are excited about the opportunity to work with Trycera on this venture," states Catwalk President Gregory James. "Through our relationships with modeling agencies worldwide, it is our hope that this card will allow for new opportunities for growth within the industry and offer an increase in financial responsibility among young adults."
The Model Prepaid MasterCard® Card was created by James who illustrates the appeal of this market to advertisers and sponsors through his phrase "EGOTEEN" marketing, a concept that describes the more than $169 billion in annual teenage discretionary spending and growing. The relationship between Catwalk and Trycera was forged with this understanding of the buying power of the teenage market. Trycera is a registered agent of MetaBank.
The card is intended to be used as a tool that allows for discussions between parents and their teenager regarding financial responsibility. It can be reloaded by the parent and notify children on their cell phones, have payroll checks directly deposited to the account and notify both parent and teen via e-mail when the funds are depleted, while allowing the parent to view where the funds were spent.
Over 10,000 girls, age 13-24, entered the CosmoGIRL! So You Want to Be a Model Contest produced by ESB Productions and Peter Glenn Publications. All contestants are eligible for the card, however teens age 13-17 must have parental consent to apply for the card. Teens 18 and over can apply for the card immediately by entering the Contest or by visiting www.mymodeldebitcard.com.
For more information, contact Todd Heustess at (818) 547-5897 or toddh@themarketingandeventsco.com
--------------------------------------------------------------------------------
Source: ESB Productions
CRNT - KyivStar Deploys $1.8M of Ceragon's FibeAir 1500HP
Wednesday September 13, 5:00 am ET
The New FibeAir 1500HP Optimized for Long Haul Applications, Provides Substantial Benefits for the Largest Mobile Operator in Ukraine
TEL AVIV, Israel, September 13 /PRNewswire-FirstCall/ -- Ceragon Networks Ltd. (NASDAQ: CRNT and TASE: CRNT), www.ceragon.com a leading provider of high-capacity wireless backhaul solutions, announced today Kyivstar GSM, the largest mobile operator in Ukraine, has been deploying its new FibeAir 1500HP since the product's release in late 2005. Ceragon is the sole supplier of the SDH high-capacity backhaul solution used in their cellular network. In the first half of this year approximately $1 million of the revenue from this deployment was recognized, with the remaining $800,000 expected to be recognized in the second half of 2006.
Ceragon's new FibeAir 1500HP series of wireless radios replaces Kyivstar's lower capacity PDH links with high capacity SDH networking equipment enabling them to increase bandwidth from 34MB to 311MB on the same radio channel and more than quadruple their current capacity. The FibeAir 1500HP high power radio, optimized for long haul applications, provides Kyivstar with a reliable, easily-deployed solution that allows them to use cost-effective smaller antennas. With its unique embedded space diversity including dual receiver architecture, high transmit power and an IF (intermediate frequency) combining algorithm the FibeAir 1500HP guarantees Kyivstar superior performance. NTU-Service, Ceragon's partner and system integrator in Ukraine, provides project management, installation, local support and maintenance services.
Commenting on the new contract, Mr. Alexander Dorofiy, Deputy Chief Technical Officer Kyivstar said: "We have been met with overwhelming demand to increase the capacity of our networks in order to provide fast delivery of more services. Ceragon's SDH radios are enabling us to promptly meet this growing demand while offering benefits of a self-healing ring topology and a single point-of-view for management."
Kyivstar is using Ceragon's comprehensive line of products nationwide to immediately enhance the capacity of its networks, while reducing operating expenses. Over the past two years, Kyivstar has installed and is successfully operating over two hundred of Ceragon's high-capacity terminals to handle the growing capacity demands from increasing numbers of subscribers and more data-centric applications. Kyivstar provides services to over 17 million subscribers and their network serves almost 50% of the Ukrainian market.
"Kyivstar's decision to continue working exclusively with Ceragon represents a huge vote of confidence for Ceragon and its products," said Ira Palti, President and Chief Executive Officer of Ceragon. "We are gratified that Kyivstar has been pleased with the performance of Ceragon's wireless products and is using the FibeAir 1500HP for smooth migration of their existing PDH network to a high capacity SDH network."
The FibeAir radios were deployed as an STM-1 backbone, providing high capacity connectivity between cellular base stations and the core network in the 7, 8 and 23 GHz-licensed bands in protected, space diversity, and N+N configurations. Kyivstar has guaranteed the highest spectral efficiency by using Ceragon's integrated XPIC functionality. Ceragon's management software solutions, CeraView® and PolyView(TM), centrally monitor and manage the entire network from the customer's headquarters in Kiev.
About KyivStar GSM
Kyivstar GSM is Ukraine's leading national mobile operator having the largest coverage in GSM covering territories where more than 97% of the Ukrainian population lives. Kyivstar network covers all the cities and towns of Ukraine and more than 27,000 rural settlements, all highways of national and regional importance and most of the country's riverbanks and seashores. The number of subscribers currently constitutes over 17.2 million people, which is more than 1/3 of all the population of Ukraine. Today Kyivstar GSM is the largest and the preferred mobile operator of Ukraine. Having signed direct agreements with 313 foreign mobile operators, Kyivstar GSM offers affordable roaming services with 163 countries located on 5 continents; it also has GPRS-roaming agreements with 124 operators in 81 countries of the world. More information is available at www.kyivstar.net
About NTService UAB
NTService UAB is well experienced in providing professional services for Telco's, GSM service providers, ISP's and corporate customers since the year 1999. NTService is system integrator focusing its activity in the area of various access and transmission projects. The Company has distribution agreements with leading manufacturers from various countries. NTService has an experienced engineering staff which is able to perform implementation of complex projects from design stage to full implementation and providing of maintenance services. NTService is active in Baltic States and Ukraine. NTU-Service, the local system integrator in the Ukraine, supplies equipment and provides installation and maintenance services for main telecommunications services providers throughout Ukraine.
About Ceragon Networks Ltd.
Ceragon Networks Ltd. (NASDAQ and TASE: CRNT) is a leading provider of high-capacity wireless backhaul solutions for cellular and fixed wireless operators, enterprises and government organizations. Ceragon's modular FibeAir® product family is recognized as the gold standard for backhaul transmission and is also one of the top solutions chosen by cellular operators for SONET/SDH rings. A scalable, future-proof solution for wireless transport of broadband services, FibeAir operates across multiple frequencies for IP and SONET/SDH protocols, supporting the emerging needs of next-generation networks that are evolving to all-IP based services, including triple-play. It leads the market in IP backhaul, offering a unique, native IP solution that provides the efficient, robust connectivity required for WiFi, WiMAX and converged networks. Ceragon supports its growing base of more than 180 customers in 70 countries by operating an extensive sales network comprising 17 offices and numerous partners located around the world. More information is available at www.ceragon.com.
Ceragon Networks®, CeraView®, FibeAir® and the FibeAir® design mark are registered trademarks of Ceragon Networks Ltd., and Ceragon(TM), PolyView(TM), ConfigAir(TM), CeraMon(TM), EtherAir(TM), QuickAir(TM), QuickAir Partner Program(TM), QuickAir Partner Certification Program(TM), QuickAir Partner Zone(TM), EncryptAir(TM) and Microwave Fiber(TM) are trademarks of Ceragon Networks Ltd.
This press release may contain statements concerning Ceragon's future prospects that are "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and projections that involve a number of risks and uncertainties. There can be no assurance that future results will be achieved, and actual results could differ materially from forecasts and estimates. Important factors that could cause actual results to differ materially from forecasts and estimates include: Ceragon's limited operating history and history of losses; Ceragon's dependence on a limited number of key customers, independent manufacturers and suppliers; and the demand for Ceragon's products and technology. These risks and uncertainties, as well as others, are discussed in greater detail in Ceragon's Annual Report on Form 20-F and Ceragon's other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date on which they are made and Ceragon undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made.
Company Contact: Investor Contact:
Monique Cohen Vered Shaked
Ceragon Networks Ltd. Ceragon Networks Ltd.
+972-3-766-8430 +972-3-645-5513
monique@ceragon.com ir@ceragon.com
--------------------------------------------------------------------------------
Source: Ceragon Networks Ltd
You can post there next week.
on watch...
FSKM (MMs moving around a bit today/ no volume)
from recent PR
Firesky Eyes Second Entertainment Trade Publication; Negotiations Commence on Firesky's Next Acquisition
IRVINE, Calif., Aug 15, 2006 /PRNewswire-FirstCall via COMTEX/ -- Firesky Media Corp. (OTC: FSKM), announced today that it has begun formal negotiations to acquire a second entertainment trade publication that concentrates on a specific segment of the entertainment industry. This is the second acquisition announced by Firesky during the month of August. The first Firesky acquisition was announced on August 10, 2006.
Additional details of the potential purchase are expected during September. Firesky anticipates the acquisition will close this fall.
GVIS - GVI Security Solutions, Inc. Announces a Joint Agreement with World's Largest Electronic Security Cooperative, PSA Security Network
Tuesday September 12, 1:51 pm ET
CARROLLTON, Texas--(BUSINESS WIRE)--Sept. 12, 2006--GVI® Security Solutions, Inc. (OTCBB:GVIS - News), a leading provider of video security solutions featuring the complete Samsung Electronics line of products and PSA Security Network® of Denver, have renewed their relationship which was originally initiated in 2005. The signed joint agreement continues to make the complete line of GVI® Professional Security Solutions available to PSA® member companies. Also available to PSA members is the new line of Samsung Digital Video Recorders and Samsung Wide Dynamic Video Cameras, effective immediately.
Under the terms of the distribution agreement, the members of PSA Security Network, a group of leading installers, systems integrators and resellers, are able to sell, install and support the full range of GVI Video Security Solutions, Digital Video Recording, and Video IT Based Networking products. PSA Security Network is the world's largest electronic security cooperative with annual sales of over $1.4 billion.
"PSA is pleased to be working with a world class organization like GVI® Security. We look forward to teaming our group of leading integrators with them to pursue new opportunities. GVI's Digital, Analog and IP based solutions will provide end users with best-of-class capability and functionality," said Dave Homet, business development officer for PSA.
"PSA Security Network gives us access to some of the most highly respected systems integrators and installers in the country, adding considerable reach to our distribution," said Mike Capulli, vice president of sales for GVI Security, the wholly owned subsidiary of GVI Security Solutions, Inc. He continued, "PSA's standard of excellence in selecting its members insures that our state-of-the-art security solutions will be delivered by the highest quality network of professionals available. This relationship should provide GVI a multimillion dollar new sales channel over the next 12 months."
About PSA Security Network
PSA Security Network® (www.psasecurity.com) is the world's largest electronic security cooperative with members responsible for over $1.4 billion annually in security, fire, and life safety installations. These leading security systems integrators specialize in the design, installation, integration, and maintenance of access control, video surveillance, intrusion detection, fire, and life safety systems.
About GVI® Security Solutions, Inc.
GVI Security Solutions Inc. is a leading provider of video surveillance and security solutions incorporating a complete line of video surveillance solutions, and detection systems to the homeland security, professional and business-to-business segments. GVI provides a strong combination of Video Surveillance and Video IT-Based Networking systems that enhance life safety for both government agencies and the private sector. GVI's board and senior management have decades of experience in the security, law enforcement, military and investment banking communities. The Chairman of the Board is Howard Safir, former New York City Police Commissioner.
Forward Looking Statements:
Some of the statements made by GVI Security Solutions, Inc. in this press release are forward-looking in nature. Forward-looking statements in this press release are not promises or guarantees and are subject to risks and uncertainties that could cause our actual results to differ materially from those anticipated. These statements are based on management's current expectations and assumptions and are naturally subject to uncertainty and changes in circumstances. We caution you not to place undue reliance upon any such forward-looking statements. Actual results may differ materially from those expressed or implied by the statements herein. GVI Security Solutions, Inc. believes that its primary risk factors include, but are not limited to: reliance on primary supplier; effective integration of recently acquired operations and personnel; expansion risks; effective internal processes and systems; the ability to attract and retain high quality employees; changes in the overall economy; rapid change in technology; the number and size of competitors in its markets; outstanding indebtedness; law and regulatory policy; the mix of products and services offered in the company's target markets; and other factors detailed in the Company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-KSB for the year ended December 31, 2004 currently on file, as well as the risk that projected business opportunities will fail to materialize or will be delayed.
Contact:
for GVI® Security Solutions
Esra Kahraman, 972-245-7353
--------------------------------------------------------------------------------
Source: GVI Security Solutions, Inc.
oooops...