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API Technologies awarded USD1.0m order for National Hybrid Custom Hybrids
API Technologies awarded USD1.0m order for National Hybrid Custom Hybrids
Nov. 3, 2010 (M2 Communications Ltd.) --
API Technologies Corp (OTCBB: ATNY.ob), a provider of highly engineered products and services to the defence sector, has received a new USD 1.0m order for its National Hybrid custom hybrid products.
Details of the customer were not available.
The company said on Tuesday that the products under the order will be manufactured at its Pennsylvania facility.
(Comments on this story may be sent to info@m2.com)
Source: M2 Presswire (November 3, 2010 - 7:19 AM EDT)
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Cambridge Heart Reports Results for the Three and Nine Months Ended September 30, 2010
Cambridge Heart Reports Results for the Three and Nine Months Ended September 30, 2010
Revenue up 21% sequentially over Q2 2010
Nov. 3, 2010 (Business Wire) -- Cambridge Heart, Inc. (OTCBB: CAMH), today reported results for the three and nine months ended September 30, 2010. Full financial statements and corresponding commentary can be found in the Company’s Form 10-Q, which is expected to be filed with the Securities and Exchange Commission on November 15, 2010. The following financial and strategic milestones highlight the third quarter:
Revenue – Sales for the third quarter were $793,000, an increase of 21% compared to $654,000 in the second quarter of 2010. The Company believes the recent reimbursement change in July 2010 contributed to the increase in revenue.
Distribution Update – The MTWA Module was launched on September 21, 2010 through the Company’s distribution partner, Cardiac Science Corporation, Inc., which was in line with the launch plans. From the launch date through September 30th, the Company shipped an initial order of 10 MTWA modules to Cardiac Science.
Clinical Update – The Company began enrolling patients in a second clinical site for its’ MTWA-CAD study, (the study is designed to determine if the Company’s MTWA testing can enhance current diagnostic methods for detecting ischemia in patients with underlying coronary artery disease). The MTWA-CAD trial is a pilot study expected to enroll up to 200 patients. The Company estimates that the enrollments will be completed by mid-2011.
Commenting on the results of the quarter and recent events, Cambridge Heart CEO Ali Haghighi-Mood said, “In the third quarter, the commercial launch of the MTWA Module marked the key milestone of the new strategy we announced last year. We are very pleased with the initial level of activity in promoting and marketing the MTWA Module, and the cooperation between our respective sales and marketing teams. While it is too early to comment on the ultimate rate of adoption, we are encouraged by the activity level seen to date and the growth of the sales pipeline”. In regards to the recently announced tender offer by Opto Circuits (India) Ltd. to acquire Cardiac Science Corporation, Haghighi-Mood added, “We believe that the outstanding brand recognition of Cardiac Science’s product lines, when combined with a larger global presence and greater financial strength is a positive development for our partnership.”
Financial Results for the Three and Nine Months ended September 30, 2010
Total revenue for the third quarter ended September 30, 2010 was $793,000, compared to total revenue of $798,000 reported during the same period of 2009. Sales continue to be adversely impacted by ongoing weakness in the sales of medical equipment in general, our limited scope of distribution, and the uncertainty around certain reductions in reimbursement. Cost of sales for the third quarter of 2010 was $535,000, compared to $456,000 in the same period in 2009. Gross profit, as a percent of revenue, for the three months ended September 30, 2009 and 2010, was 43% and 33%, respectively. The decrease in gross profit compared to 2009 is due to start-up manufacturing costs in connection with the MTWA Module and more than average number of treadmills included in orders of the HearTwave II System. The reserve against inventory the Company established, which was based on the uncertainty that the Company will realize the full value of the existing inventory over the next 12 months, was unchanged. The inventory was built up in order to satisfy our contractual obligations under the former co-marketing agreement with St. Jude Medical. Operating expenses for the third quarter of 2010 were $1,378,000, a decrease of $645,000, or 32%, compared to $2,023,000 in the third quarter of 2009. The decrease in operating expense is driven by lower selling, general and administrative expenses related to consultative and advisory activities, lower non-cash compensation due to the full vesting of certain previously issued stock option and restricted stock awards, and some reduction in headcount in 2010. The operating loss for the third quarter of 2010 was $1,121,000, compared to an operating loss of $1,681,000 for the same period last year. Included in the operating loss for the third quarter of 2010 was $195,000 of non-cash stock-based compensation expense. The net loss for the quarter was $1,123,000 or $0.02 per share, compared to a net loss of $1,681,000, or $0.03 per share, in the comparable 2009 period. For the nine months ended September 30, 2010, total revenue was $2,105,000, a decrease of $322,000, or 13%, compared to total revenue of $2,427,000 for the same period in 2009. Operating expenses for the nine-month period in 2010 were $4,567,000 compared to $6,641,000 in 2009. The operating loss for the nine month period ended September 30, 2010 of $3,938,000, which included a $124,000 inventory reserve charge, decreased $1,687,000 compared to an operating loss of $5,625,000, for the same period in the prior year. The operating loss for the nine-month period ended September 30, 2010 included $792,000 in non-cash stock based compensation expense compared to $1,507,000 for the nine-month period ended September 30, 2009. The net loss for the nine-month period ended September 30, 2010 was $3,946,000, or $0.06 per share, compared to a net loss of $5,616,000, or $0.09 per share, during 2009. Cost of sales for the nine months ended September 30, 2010 was $1,476,000 (which includes a $124,000 charge to reserve for potentially excess inventory) compared to $1,411,000 in the same period in 2009. Gross margin as a percent of revenue for the nine months ended September 30, 2010 was 30% compared to 42% in 2009. This decrease in gross margin is primarily attributable to the $124,000 inventory reserve provision, recorded in the first six months ended June 30, 2010, in connection with inventory built up to satisfy our contractual obligations under the arrangement with St. Jude Medical, coupled with start-up manufacturing costs in connection with the MTWA Module and above average number of treadmills at no charge were included in orders of the HearTwave II System in the third quarter. The Company ended the third quarter with unrestricted cash and cash equivalents of $1,516,000. The cash used by operations was $3,072,000 for the nine months ended September 30, 2010. The Company believes that the existing resources and currently projected financial results, which include sales of the MTWA Module and Micro-V Alternans Sensors to Cardiac Science, are sufficient to fund operations through December 31, 2010. The projections do not include the potential additional proceeds of up to $752,000, $0.107 per share, from the exercise of the previously unexercised Short-Term Warrants that were issued in connection with the Series D Private Placement, which expire on December 23, 2010. In the event the remaining outstanding Short-Term Warrants are exercised, the Company believes it would have sufficient resources to fund its operations through March 31, 2011. The Company currently has a total of 102.7 million shares of common stock and common stock equivalents issued and outstanding, including the effect of converting the Series C-1 preferred stock and the Series D preferred stock into shares of common stock. In addition, there are options and warrants outstanding to purchase 16.9 million shares of common stock, bringing the fully diluted share count to 119.7 million shares of common stock.
Questions can be directed to the Company’s management or its investor relations firm at the contact numbers provided.
About Cambridge Heart, Inc.
Cambridge Heart develops and commercializes non-invasive diagnostic tests for cardiac disease, with a focus on identifying those at risk for sudden cardiac arrest (SCA). The Company’s products incorporate proprietary Microvolt T-Wave Alternans™ measurement technologies, including the patented Analytic Spectral Method® and ultrasensitive disposable electrode sensors. The Company’s MTWA test, originally based on research conducted at the Massachusetts Institute of Technology, is reimbursed by Medicare under its National Coverage Policy.
Cambridge Heart, founded in 1990, is based in Tewksbury, MA. It is traded on the Over-The-Counter Bulletin Board (OTCBB) under the symbol CAMH.OB. http://www.cambridgeheart.com.
Statements contained in this press release that are not purely historical are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. In some cases, we use words such as “believes”, “expects”, “anticipates”, “plans”, “estimates”, “could”, and similar expressions that convey uncertainty of future events or outcomes to identify these forward-looking statements. Forward-looking statements include statements about the Company’s belief that existing resources and currently projected financial results are sufficient to fund operations through December 31, 2010. Actual results may differ materially from those indicated by these forward-looking statements. Material deviations from our current operating plan, lower than expected sales to Cardiac Science and lower than expected sales of our HearTwave II System may cause or contribute to such differences. Other factors that may cause or contribute to such differences include failure to achieve broad market acceptance of the Company’s MTWA technology, failure of our sales and marketing organization to market our products effectively, inability to hire and retain qualified clinical applications specialists in the Company's target markets, failure to obtain or maintain adequate levels of first-party reimbursement for use of the Company's MTWA test, customer delays in making final buying decisions, decreased demand for the Company's products, failure to obtain funding necessary to fund operations and to develop or enhance our technology, adverse results in future clinical studies of our technology, failure to obtain or maintain patent protection for our technology and other factors identified in our most recent Annual Report on Form 10-K under “Risk Factors”, which is on file with the SEC and available at www.EDGAR.com. In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so except as may be legally necessary, even if our estimates should change.
Cambridge Heart, Inc.
Financial Highlights
Statement of Operations Three months ended September 30, Nine months ended September 30,
2009 2010 2009 2010
(unaudited) (unaudited) (unaudited) (unaudited)
Revenue $ 798,345 $ 792,734 $ 2,426,957 $ 2,104,623
Cost of goods sold 455,968 535,135 1,411,469 1,475,674
Gross profit
$ 342,377 $ 257,599 $ 1,015,488 $ 628,949
Costs and expenses
Research and development 91,561 119,924 258,248 423,141
Selling, general and administrative 1,931,878 1,258,559 6,382,657 4,144,215
Total operating expenses
$ 2,023,439 $ 1,378,483 $ 6,640,905 $ 4,567,356
Loss from operations
$ (1,681,062 ) $ (1,120,884 ) $ (5,625,417 ) $ (3,938,407 )
Interest income 1,217 459 14,913 606
Interest expense (1,596 ) (2,640 ) (5,197 ) (7,752 )
Net loss $ (1,681,441 ) $ (1,123,065 ) $ (5,615,701 ) $ (3,945,553 )
Net loss per common share - basic and diluted $ (0.03 ) $ (0.02 ) $ (0.09 ) $ (0.06 )
Weighted average shares outstanding - basic and diluted
64,602,186 69,705,559 64,563,033 70,448,030
Balance Sheet December 31, September 30,
2009 2010
(unaudited) (unaudited)
Assets
Cash and cash equivalents $ 3,159,468 $ 1,515,960
Restricted cash, current portion 100,000 100,000
Accounts receivable, net 458,887 604,286
Inventory, net 1,152,620 783,503
Other prepaid assets 118,312 87,195
Total current assets
4,989,287 3,090,944
Fixed assets, net 239,970 204,134
Restricted cash, net current portion 400,000 300,000
Other assets 42,655 53,816
Total assets
$ 5,671,912 $ 3,648,894
Liabilities and stockholders' deficit
Accounts payable and accrued expenses $ 1,500,431 $ 1,192,528
Current portion of capital lease obligation 13,571 4,660
Total current liabilities
1,514,002 1,197,188
Capital lease obligation, net of current portion 13,551 30,094
Total liabilities
1,527,553 1,227,282
Convertible preferred stock 12,870,613 12,870,613
Stockholders' deficit
Common stock 64,905 75,970
Additional paid-in-capital 87,201,360 89,413,101
Accumulated deficit (95,992,519 ) (99,938,072 )
Total stockholders' deficit
(8,726,254 ) (10,449,001 )
Total liabilities and stockholders' deficit
$ 5,671,912 $ 3,648,894
At Cambridge Heart:
Vincenzo LiCausi, 978-654-7600 x 6645
Chief Financial Officer
vincenzol@cambridgeheart.com
or
Media:
KOGS Communication
Edna Kaplan, 781-639-1910
kaplan@kogspr.com
or
Investor Relations:
Allen & Caron
Matt H. Clawson, 949-474-4300
matt@allencaron.com
Source: Business Wire (November 3, 2010 - 7:30 AM EDT)
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Dionics, Inc. Announces Progress in "China-Initiative" With Several Key Events Aimed at Achieving Growth in Expanding Asian Market
Dionics, Inc. Announces Progress in "China-Initiative" With Several Key Events Aimed at Achieving Growth in Expanding Asian Market
Nov. 3, 2010 (GlobeNewswire) --
WESTBURY, N.Y., Nov. 3, 2010 (GLOBE NEWSWIRE) -- Dionics, Inc. (OTCBB:DION), a semiconductor/micro-electronics manufacturer known for its high-reliability PV (photo-voltaic) MOSFET-Drivers, today issued a progress-report on steps being taken to generate growth in the rapidly expanding Chinese market-place.
According to Bernard L. Kravitz, company president, "With the help of our new investors, CML, Ltd., we have taken significant steps toward promoting increased volume for our products in the vast China-market.
We have engaged the services of a highly-respected local Chinese consulting firm;
We have opened a Chinese-language website, www.Dionics-China.com;
Through our consultants, we have an operating sales/marketing function in Beijing;
We are in negotiations with a large number of electronics distributors who are interested in handling our high-reliability MOSFET-Drivers in the Chinese market-place;
Our Chinese consultants are also screening several candidates for possible growth through the Merger/Acquisition route.
Kravitz further explains that "in addition to the Chinese customers we already have, our growth program anticipates adding significant volume in power-distribution applications, an integral part of ongoing economic growth in China. Some potential high-quality situations will mature quickly, while others will need some time. Those situations that are more cost-sensitive must wait for completion of our aggressive, new cost-reduction program, already well under-way. Although the market potential for our products is incredibly large," Kravitz explained, "each specific situation involves its own unique balance between the cost of our product and the application-value of its high reliability. Our selling price, therefore, will determine how fast we can grow into that huge market potential. We intend to make our new, more competitive selling price, coupled with our already unchallenged high-reliability, a combination the Chinese market-place cannot resist," he concluded.
Forward-Looking Statements
Statements contained herein that are not based on current or historical fact are forward-looking in nature. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words "anticipate", "believe", "estimate", "plan", "intend" and "expect"and similar expressions, as they relate to Dionics, Inc. or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties and other factors that could cause the Company's actual results, performance, prospects and opportunities to differ materially from those expressed or implied by these forward-looking statements. Certain of those factors are discussed in the Company's filings with the Securities and Exchange Commission. Except as required by the Federal Securities law, the Company does not undertake any obligations to release publicly any revisions to forward-looking statements to reflect events or circumstances after the date hereof or for any other reason.
CONTACT: Dionics, Inc.
Bernard L. Kravitz, President
(516) 997-7474
Source: Globe Newswire (November 3, 2010 - 7:30 AM EDT)
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Latteno Announces New Agreement to Distribute Giarolla Cheese Products to a Large Brazilian Supermarket Chain
Latteno Announces New Agreement to Distribute Giarolla Cheese Products to a Large Brazilian Supermarket Chain
Nov. 3, 2010 (PR Newswire) --
MARKHAM, Ontario, Nov. 3, 2010 /PRNewswire/ -- Global Milk, a wholly-owned subsidiary of Latteno Food Corp. (OTC Bulletin Board: LATF), announced today that it has entered into a new distribution agreement for the Giarolla brand of cheese products with a Brazilian supermarket chain, which is owned by the largest retailer in the world.
As part of the contract, Global Milk will distribute Giarolla cheese products to 18 of the supermarket chain's 40 stores throughout Brazil starting in November 2010. Based on the results of this initial program, Global Milk will then commence distribution of the products to the other 22 retail store locations.
"I am very pleased to announce this new contract to distribute Giarolla cheese through these well-known supermarkets in Brazil. The retail locations we are entering as part of this agreement are supermarkets that service a large number of customers, thereby notably expanding our distribution of Giarolla cheese products," stated Daniel Ollech, President and Chief Executive Officer of Latteno Food Corp. "This agreement is a significant achievement for our company. Not only will it provide us with an opportunity to expand upon our current customer base, but it will also help us develop new sales lines for our products as we continue to introduce them to other retailers throughout the country.
"This distribution agreement speaks directly to our focus and commitment to expanding the sales force and generating growth. I look forward to a successful launch of this distribution agreement and announcing other new agreements with retailers as they are signed," concluded Mr. Ollech.
About Latteno Food Corp.
Latteno Food Corp. is a U.S. corporation that concentrates on acquiring, organizing, developing and upgrading South American companies in the food industry, and more specifically, in the dairy and coffee industries. Currently, the Latteno operates through its subsidiary in Brazil and is developing a plan of operations for its leased facilities in Brazil. For further information please visit www.latteno.com.
Forward-Looking Safe Harbor Statement:
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially from forecasted results. These risks and uncertainties include our ability to: attract customers; successfully market our products; successfully implement our current long-term growth strategy; as well as product demand, market competition, fluctuations in costs, reliance on suppliers, delays production, climate, and technical issues beyond our control. For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the Commission are available from commercial document retrieval services and at the website maintained by the Commission at http://www.sec.gov.
Contacts:
KCSA Strategic Communications
Todd Fromer / Garth Russell
212-896-1215 / 212-896-1250
tfromer@kcsa.com / grussell@kcsa.com
SOURCE Latteno Food Corp.
Todd Fromer, +1-212-896-1215, tfromer@kcsa.com; or Garth Russell, +1-212-896-1250, grussell@kcsa.com, both of KCSA Strategic Communications
Source: PR Newswire (November 3, 2010 - 7:30 AM EDT)
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China TMK Battery Systems Inc. to Host Third Quarter 2010 Results Conference Call on November 18, 2010 at 10:00 a.m. ET
China TMK Battery Systems Inc. to Host Third Quarter 2010 Results Conference Call on November 18, 2010 at 10:00 a.m. ET
Nov. 3, 2010 (PR Newswire) --
SHENZHEN, China, Nov. 3, 2010 /PRNewswire-Asia-FirstCall/ -- China TMK Battery Systems Inc. (OTC Bulletin Board: DFEL) ("TMK" or the "Company") (formerly, Deerfield Resources, Ltd.), a China-based manufacturer and distributor of customized rechargeable battery solutions to global consumer product companies, today announced that it will release its third quarter 2010 financial results on Monday, November 15, 2010 after the market close.
The conference call will take place at 10:00 a.m. ET on Thursday, November 18, 2010. Interested participants should call 1-877-941-8418 when calling within the United States or 1-480-629-9809 when calling internationally (passcode 4382407).
This conference call will be broadcast live over the Internet and can be accessed by all interested parties by clicking on this link: http://viavid.net/dce.aspx?sid=00007D50, or visiting http://www.viavid.net, where the webcast can be accessed through December 2, 2010.
A playback will be available through December 2, 2010. To listen, please call 1-877-870-5176 within the United States or 1-858-384-5517 when calling internationally (passcode 4382407).
About China TMK Battery Systems Inc.
Based in Shenzhen, PRC and founded in 1999, TMK manufactures and distributes high rate discharge Nickel Metal Hydride ("Ni-MH") multi-cell batteries in its manufacturing facility located in Shenzhen, China. TMK maintains a diverse roster of large, consumer-focused clients with major production facilities in China. TMK works with its clients throughout the product design cycle to develop and integrate reliable and long-lasting rechargeable power solutions for widely used consumer products, which include home appliances, cordless power tools, medical devices, multiple personal communication devices and electric bicycles segments. TMK is also leveraging its capabilities and experience to become a supplier of back-up power solutions to the telecommunications industry and for traffic lighting applications.
Cautionary Statement Regarding Forward-Looking Information
This press release may contain certain "forward-looking statements" relating to the business of China TMK Battery Systems Inc. and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the impact of the Alexis Power agreement on TMK's business and operations; TMK's ability to fulfill its obligations under the agreement, including its ability to significantly increase its Ni-MH battery manufacturing capacity and quality control procedures in a timely manner to deliver products under the Alexis agreement; the general ability of the Company to achieve its commercial objectives, including the ability of the Company to become a leader in the market for innovative new back-up supply solutions; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov)
For more information, please contact:
Company:
Toby Tu, Secretary
Phone: +86-755-2810-9908
Email: tobytu@tmk-battery.com
Investor Relations:
HC International, Inc.
Ted Haberfield, Executive VP
Phone: +1-760-755-2716
Email: thaberfield@hcinternational.net
SOURCE China TMK Battery Systems Inc.
Company -- Toby Tu, Secretary, +86-755-2810-9908, or tobytu@tmk-battery.com; or Investor Relations -- at HC International, Inc., Ted Haberfield, Executive VP, +1-760-755-2716, or thaberfield@hcinternational.net
Source: PR Newswire (November 3, 2010 - 7:30 AM EDT)
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Colorado Goldfields Inc. "Gold Dynamics in the News" Part 6 -- Gold, Currency War, US Dollar, Stock Market -- Relevant Information for Company Shareholders
Colorado Goldfields Inc. "Gold Dynamics in the News" Part 6 -- Gold, Currency War, US Dollar, Stock Market -- Relevant Information for Company Shareholders
Gold Stocks
Nov. 3, 2010 (Marketwire) --
LAKEWOOD, CO -- (Marketwire) -- 11/03/10 -- Colorado Goldfields Inc. (OTCBB: CGFIA) provides this commentary as Part 6 of its "Gold Dynamics in the News" series.
To view Peter Schiff's complete commentary, follow this link:
AmbiCom Receives Additional $1.2 Million Purchase Order From a Major Client
AmbiCom Receives Additional $1.2 Million Purchase Order From a Major Client
Nov. 3, 2010 (Marketwire) --
SAN JOSE, CA -- (Marketwire) -- 11/03/10 -- AmbiCom Holdings, Inc. (OTCBB: ABHI), a leader in the development of wireless products for medical equipment suppliers, today announced that it has received a new $1.2 million purchase order from a major client for AmbiCom's Wi-Fi solution to be used in infusion pumps for North American customers. The smart infusion technology, which has been developed by the major global corporations, relies on wireless capability to dramatically reduce medication errors and allow health care workers to continually monitor their patients' drug usage, thereby helping to ensure patient safety. Product for the international market however, which also utilizes AmbiCom's wireless solution, is scheduled to be shipped to major hospitals and clinics in the later part of next year.
About AmbiCom
AmbiCom is headquartered in San Jose, California, and is a leading designer and developer of wireless products focusing on the wireless medical industry. The Company's wireless modules and devices are based on the Company's innovative application software for both Wi-Fi and Bluetooth technologies. AmbiCom is committed to wireless design and development of software and hardware, and to bringing new and innovative products to the wireless medical markets and other sectors. The Company plans to grow organically, and to augment that growth by selectively acquiring complementary products and technologies via acquisition opportunities deemed to be of strategic value.
Forward-Looking Statements
This press release 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. Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements including, but not limited to, our ability to maintain our website and associated computer systems, our ability generate sufficient market acceptance for our shipping products and services, our inability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in the our reports filed with the Securities and Exchange Commission, including those risks set forth in the Company's Current Report on Form 8-K filed on November 13, 2007, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Contact:
Beverly Jedynak
Martin E. Janis & Company, Inc.
312-943-1123 begin_of_the_skype_highlighting 312-943-1123 end_of_the_skype_highlighting
Email Contact
Source: Marketwire (November 3, 2010 - 8:00 AM EDT)
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Lyris, Inc., Schedules First Quarter Conference Call, Webcast
Lyris, Inc., Schedules First Quarter Conference Call, Webcast
Nov. 3, 2010 (Business Wire) -- Lyris, Inc., (OTCBB:LYRI.OB), the online marketing expert, today announced that will report its operating results for the first quarter of fiscal 2011 on Friday, November 12.
The company will hold a conference call to discuss its financial results and operating activities to all interested parties at 8 a.m., Pacific Standard Time (11 a.m., Eastern Standard Time), Friday, November 12, hosted by Wolfgang Maasberg, chief executive officer, and Heidi Mackintosh, chief financial officer.
The teleconference can be accessed by calling (719) 325-2249, passcode 4844545. Please dial in 10-15 minutes prior to the beginning of the call. The webcast will be available on the Internet at www.lyris.com.
A replay of the call will be available through Friday, November 19, at (858) 384-5517, passcode 4844545, and on the company’s website.
Lyris, Inc. (OTCBB: LYRI.OB) is the integrated online marketing expert delivering the industry’s first on-demand integrated marketing suite, Lyris HQ, to help marketers simplify their marketing efforts and optimize campaign ROI. Lyris HQ’s sophisticated, easy-to-use suite of tools provide marketers with best-of-breed applications for managing e-mail marketing campaigns, tracking Web analytics, publishing and managing Web site content, creating landing pages, optimizing Web sites, paid search and search engine marketing and integrating social media and mobile marketing campaigns. Clients include Expedia CruiseShipCenters, The British Museum Company, Matches, Char-Broil and Eldorado Hotel & Casino. For more information, please visit www.lyris.com. The company is based in Emeryville, Calif.
Lyris, Inc.
Richard McDonald, 610-688-3305
Director, Investor Relations
rmcdonald@lyris.com
or
Ruder-Finn
Neal B. Rosen, 415-692-3058
rosenn@ruderfinn.com
Source: Business Wire (November 3, 2010 - 8:00 AM EDT)
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Minerco Resources, Inc.: Business and Operations Update on the Chiligatoro Hydro-Electric Project
Minerco Resources, Inc.: Business and Operations Update on the Chiligatoro Hydro-Electric Project
Nov. 3, 2010 (Marketwire) --
HOUSTON, TX -- (Marketwire) -- 11/03/10 -- Minerco Resources, Inc. (OTCBB: MINE), a progressive developer, producer and provider of clean, renewable energy solutions in Latin America, announced on October 20, 2010 the Chiligatoro Hydro-Electric Project received further environmental approval from the municipality of Intibuca.
The approval from the Coordinator of the Environmental Unit from the municipality of Intibuca is another important and necessary step in the process of obtaining Congressional approval for the Chiligatoro Project. For a step by step look at the approval process in Honduras, visit our website at www.minercoresources.com/process.php.
As previously released, the local communities have formally approved the Chiligatoro Project, the Environmental Impact Study and Water Contract for the Chiligatoro Project have been submitted to Secretaria de Recursos Naturales y Ambiente ("SERNA"), Honduras's Natural Resources and Environmental Ministry. The Honduran National Commission of Energy has approved and SERNA has signed the 30 Year Operations Contract for the Chiligatoro Project.
"Minerco is very pleased to receive yet another approval in the process of developing the Chiligatoro Project. We are one step closer to realizing our vision of providing clean, green energy in Honduras and throughout the region. In line with our vision, Minerco is currently engaged in ongoing discussions with multiple financial institutions, both in the United States and Latin America, regarding the financing of the Chiligatoro Hydro-Electric Project," said V. Scott Vanis, Minerco's President and CEO.
On October 5, 2010, the company appointed its Chief Financial Officer, Sam J Messina III, as its Secretary, Treasurer and a member of the Board of Directors. Mr. Messina has been with the company since July 2010. Prior to joining Minerco, Mr. Messina worked at Alternative Energy Development Corporation as Chief Financial Officer and Director from November 2009 to September 2010. He previously worked at Qualcomm, Inc. at various roles within their accounting and finance team from October 2006 to November 2009. Prior to that Mr. Messina served as the Chief Financial Officer of Pop3 Media Corp. from July 2004 to July 2006. Mr. Messina holds a B.A. degree in Finance from Loyola University Chicago and is a Certified Public Accountant in the State of California.
"Sam's experience and dedication is invaluable to Minerco. Additionally, his entrepreneurial spirit is a perfect for helping our company to realize our new green vision. I am very grateful and excited to have Mr. Messina on our team. His strong accounting and finance background will positively impact our company's green future," said V. Scott Vanis, Minerco's President and CEO.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations and assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Some of these uncertainties include, without limitation, the company's ability to perform under existing contracts or to procure future contracts. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, successful implementation of our business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. We undertake no obligation and do not intend to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Many factors could cause actual results to differ materially from our forward-looking statements.
Please contact:
Minerco Resources, Inc.
info@minercoresources.com
281-994-4187
Source: Marketwire (November 3, 2010 - 8:00 AM EDT)
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Rocky Mountain Fudge, Inc. Wholly Owned Subsidiary Selected as Preferred Installer by AIC Wireless
Rocky Mountain Fudge, Inc. Wholly Owned Subsidiary Selected as Preferred Installer by AIC Wireless
Nov. 3, 2010 (Business Wire) -- Rocky Mountain Fudge Company, Inc. (OTCBB: RMFI) wholly owned subsidiary, Wireless Power Controls, Inc., has been selected by privately held AIC Wireless (Sylvester, Ga.) as a preferred installer. In addition, the Board has appointed Alan Tucker vice president of marketing.
AIC Wireless has an exceptional reputation across the building automation and controls industry for its manufactured wireless products. AIC Wireless frequently performs under major government and commercial contracts requiring substantial electrical, low voltage and wireless energy management systems. In a letter to Wireless Power Controls, management from AIC Wireless stated, “We are confident that Wireless Power Controls, Inc. can provide this service and support, and we look forward to a great relationship.”
AIC Wireless has several choices and outstanding wireless solutions. These wireless energy management devices are shipped ready to install and operate in the 900 MHz frequency. The range of the units can be extended from very short distances up to 40 miles using an antenna (essentially a line-of-site repeater). The devices are small (approximately 4.5” X 3.5” X 1.8”) and weigh approximately 9 ounces.
About AIC Wireless
AIC Wireless, Inc., a leader in wireless solutions for building automation, builds automation controls and manufactures wireless energy management devices, offering wireless control solutions for a variety of applications, including building automation, HVAC controls, access control, closed circuit television (CCTV), IP cameras, agricultural controls, telemetry applications, and wireless component integration.
About Rocky Mountain Fudge and Wireless Power Controls, Inc.
Rocky Mountain Fudge Company, Inc. manufactures and retails fudge candy products, historically on a seasonal basis. Wireless Power Controls, Inc., the company’s wholly owned subsidiary, is a custom installer and service provider for wireless products for building automation systems to control and optimize energy consumption.
Forward-Looking Statements
This news release may contain certain forward-looking statements and information concerning Rocky Mountain Fudge’s business, operations and financial condition. These statements are subject to various risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors. The information set forth herein should be read in light of such risks and uncertainties. We assume no duty or obligation to update these statements at any future date.
For Rocky Mountain Fudge Company, Inc.
Steve Moulton, 801-230-1807
Source: Business Wire (November 3, 2010 - 8:00 AM EDT)
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China's Largest Refrigeration Components Manufacturer Chooses SolidWorks Software To Support New Design Processes
China's Largest Refrigeration Components Manufacturer Chooses SolidWorks Software To Support New Design Processes
Zhejiang Sanhua Co., Ltd. Purchases 160-Plus Seats of CAD,
Simulation, and Product Data Management Software
Nov. 3, 2010 (Business Wire) -- A leading Chinese air conditioning and refrigeration components manufacturer has purchased SolidWorks® software to shorten its product design cycles and improve product quality.
Zhejiang Sanhua Co., Ltd. holds a share of over 50 percent in the market for air conditioning and refrigeration unit control valves globally. It is the supplier of some world’s leading manufacturers, including Sanyo, Panasonic, Mitsubishi, Hitachi, and Emerson. Sanhua is using 115 seats of SolidWorks CAD software, 12 seats of SolidWorks Simulation software, and 35 seats of SolidWorks Enterprise Product Data Management solutions to overhaul its design processes. Sanhua’s deployment of SolidWorks solutions marks a big leap towards its transformation from a supplier into a R&D-oriented organization that provides high-value design schemes. SolidWorks solutions are conducive to accelerating change management throughout the design and production processes and allow Sanhua engineers to predict the performance of the finished products even during scheme designing.
“We usually have a tight timeframe for designing schemes and a relatively flexible organizational system and designer team. This requires a sound guarantee for symmetrical and timely information transmission so that we can accommodate changes quickly to minimize the risk of customer drain,” said Qiu Yongwei, Zhejiang Sanhua’s department director. “SolidWorks CAD software makes change management faster because every change our designers make on a model can automatically become part of the drawings associated with the model. Our previous 2D CAD software couldn’t support this kind of fast change process.”
SolidWorks solutions will enable Sanhua to work concurrently on designing, testing, prototyping, and production planning, which will shorten time to market. When a customer requests a change, Sanhua engineers modify the SolidWorks model, which automatically propagates the change to all of the drawings made from the model. Prior to deployment of SolidWorks solutions, every change had to go through a time-consuming six-step process that required creating new drawings manually. Sanhua also plans to use SolidWorks Simulation to test product performance before production to improve quality and reduce prototyping costs.
Sanhua works with SolidWorks authorized reseller Hangzhou Huarui for training and technical support.
About Zhejiang Sanhua Co. Ltd.
Zhejiang Sanhua Co., Ltd. specializes in research, manufacture, and sales of refrigeration & air-conditioning control components. Located in Xialiquan Qixing Street Xinchang County Zhejiang Province, Zhejiang Sanhua has 6,529 employees and total assets of RMB 2.549 billion. The company specializes in research, manufacture, and sales of refrigeration and air conditioning control components. For more information please visit http://www.zjshc.com/Esanhuaweb/index.asp.
About Dassault Systèmes SolidWorks Corp.
Dassault Systèmes SolidWorks Corp., a Dassault Systèmes S.A. subsidiary, is a world leader in 3D solutions that help millions of engineers and designers succeed through innovation. Our products deliver an intuitive experience in product design, simulation, publishing, data management, and environmental impact assessment. For the latest news, information, or an online demonstration, visit our Web site (www.solidworks.com) or call 1-800-693-9000 (outside of North America, call +1-978-371-5000).
SolidWorks is a registered trademark of Dassault Systèmes SolidWorks Corp. Other brand and product names are trademarks of their respective owners. © 2010 Dassault Systèmes SolidWorks Corp.
Dassault Systèmes SolidWorks Corp.
Zheng Zheng, +86 10-65989050
Zheng.Zheng@3ds.com
www.solidworks.com
or
Beaupre & Co. Public Relations
Carrie O’Neil, +01 603-918-6375
coneil@beaupre.com
www.beaupre.com
Source: Business Wire (November 3, 2010 - 8:00 AM EDT)
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ORBIT/FR Reports Recent International Orders for 2010
ORBIT/FR Reports Recent International Orders for 2010
Nov. 3, 2010 (PR Newswire) --
HORSHAM, Pa., Nov. 3, 2010 /PRNewswire/ -- ORBIT/FR, Inc. (OTC Bulletin Board: ORFR), a Microwave Vision Company and a leading producer of automated microwave test and measurement systems for the aerospace, defense, communications, automotive and satellite industries, was recently awarded several significant orders totaling approximately $5.35 million.
ORBIT/FR's wholly-owned subsidiary in Israel, ORBIT/FR Engineering Ltd., was awarded two large near field measurement systems in Asia. One of these systems is a large planar scanner featuring a 24m (80ft) wide by 10m (30ft) tall scan area. The second system is a 6m (20ft) wide by 3m (10ft) tall planar scanner which also incorporates SATIMO's multi-probe technology.
ORBIT/FR's wholly-owned subsidiary in Germany, ORBIT/FR Europe GmbH, was awarded a new turn-key compact range facility from a leading German University and a large antenna positioning system for spacecraft testing from a European aerospace company.
"These orders are a direct result of our strong international presence and our competitive line of products," said Per Iversen, President and CEO of ORBIT/FR, Inc.
About ORBIT/FR
ORBIT/FR, Inc. (OTC Bulletin Board: ORFR) is a leading producer of automated microwave antenna test and measurement systems for the aerospace, defense, communications, automotive and satellite industries. ORBIT/FR specializes in the design and installation of full turn-key systems, positioning subsystems, test and measurement software, and RF instrumentation. Its wholly-owned subsidiary, Advanced ElectroMagnetics, Inc (AEMI), is a supplier of top-quality RF absorbers and anechoic test facilities. The companies are part of the Microwave Vision Group, which also includes SATIMO, the developer of innovative multi-probe arrays. Together, the companies can provide the widest range of measurement solutions including a comprehensive product portfolio and superior project management. For more information, please go to www.orbitfr.com.
SOURCE ORBIT/FR, Inc.
Stephanie Stocker, +1-215-674-5100
Source: PR Newswire (November 3, 2010 - 8:00 AM EDT)
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Soligenix Receives Award Totaling $244,479 for orBec® Program From Qualifying Therapeutic Discovery Project
Soligenix Receives Award Totaling $244,479 for orBec® Program From Qualifying Therapeutic Discovery Project
Nov. 3, 2010 (PR Newswire) --
PRINCETON, N.J., Nov. 3, 2010 /PRNewswire/ -- Soligenix, Inc. (Soligenix or the Company) (OTC Bulletin Board: SNGX), a late-stage biopharmaceutical company, announced today that the Company has been awarded a cash grant totaling $244,479 under the U.S. Internal Revenue Service's Qualifying Therapeutic Discovery Project (QTDP) program. The awards are intended for projects designed to treat or prevent diseases by conducting studies for the purpose of securing approval from the U.S. Food and Drug Administration.
Under the recently enacted Patient Protection and Affordable Care Act of 2010, cash grants were awarded to qualified research and development projects that showed significant potential in producing new and cost-saving therapies, support job growth, and increase U.S. competitiveness. Grants were awarded through a competitive application process, and Soligenix's confirmatory Phase 3 orBec® program for the treatment of acute gastrointestinal Graft-versus-Host disease (GI GVHD) qualified for an award.
"We are pleased to have been awarded this grant, and believe it is a positive reflection on the value of the confirmatory Phase 3 orBec® clinical trial in acute GI GVHD which is currently underway," stated Christopher J. Schaber, PhD, President and CEO of Soligenix. "This grant represents non-dilutive financing and therefore has a positive impact on our balance sheet."
The Internal Revenue Service issued the QTDP awards and will administer the program pursuant to section 48D of the Internal Revenue Code. The QTDP program is designed to provide grants or tax credits to qualified biotechnology companies with fewer than 250 employees that demonstrate the potential to:
Develop new therapies to treat chronic conditions or unmet medical needs;
Reduce long-term health care costs in the United States; or
Significantly advance the goal of curing cancer within 30 years.
About Soligenix, Inc.
Soligenix, Inc. (Soligenix) is a late-stage biopharmaceutical company developing products to treat life-threatening side effects of cancer treatments and serious gastrointestinal diseases, and vaccines for certain bioterrorism agents. Soligenix's lead product, orBec® (oral beclomethasone dipropionate or BDP), is a potent, locally acting corticosteroid being developed for the treatment of acute gastrointestinal Graft-versus-Host disease (GI GVHD), a common and potentially life-threatening complication of hematopoietic cell transplantation. orBec® is currently the subject of a $1.2M FDA Orphan Products Grant supported confirmatory Phase 3 clinical trial for the treatment of acute GI GVHD. Soligenix is also conducting an NIH-supported Phase 1/2 clinical trial of SGX201 in the prevention of acute radiation enteritis. Additionally, Soligenix has a Lipid Polymer Micelle (LPM™) drug delivery technology for the oral delivery of leuprolide for the treatment of prostate cancer and endometriosis.
Through its Biodefense Division, Soligenix is developing biomedical countermeasures pursuant to the Project BioShield Act of 2004. Soligenix's lead biodefense product in development is a recombinant subunit vaccine called RiVax™, which is designed to protect against the lethal effects of exposure to ricin toxin. RiVax™ has been shown to be well tolerated and immunogenic in a Phase 1 clinical trial in normal volunteers. RiVax™ is also the subject of a $9.4 million NIH grant received by the Company supporting development of new heat stable vaccines.
For further information regarding Soligenix, Inc., please visit the Company's website at www.soligenix.com.
This press release contains forward-looking statements that reflect Soligenix, Inc.'s current expectations about its future results, performance, prospects and opportunities. Statements that are not historical facts, such as "anticipates," "believes," "intends," or similar expressions, are forward-looking statements. These statements are subject to a number of risks, uncertainties and other factors that could cause actual events or results in future periods to differ materially from what is expressed in, or implied by, these statements. Soligenix cannot assure you that it will be able to successfully develop or commercialize products based on its technology, including orBec®, SGX201, RiVax™, and LPM™, particularly in light of the significant uncertainty inherent in developing vaccines against bioterror threats, manufacturing and conducting preclinical and clinical trials of vaccines, and obtaining regulatory approvals, that its cash expenditures will not exceed projected levels, that product development and commercialization efforts will not be reduced or discontinued due to difficulties or delays in clinical trials or due to lack of progress or positive results from research and development efforts, that it will be able to successfully obtain any further grants and awards, maintain its existing grants which are subject to performance, enter into any biodefense procurement contracts with the US Government or other countries, that the US Congress may not pass any legislation that would provide additional funding for the Project BioShield program, that it will be able to patent, register or protect its technology from challenge and products from competition or maintain or expand its license agreements with its current licensors, or that its business strategy will be successful. Important factors which may affect the future use of orBec® for gastrointestinal GVHD include the risks that: the FDA's requirement that Soligenix conduct additional clinical trials to demonstrate the safety and efficacy of orBec® will take a significant amount of time and money to complete and positive results leading to regulatory approval cannot be assumed; Soligenix is dependent on the expertise, effort, priorities and contractual obligations of third parties in the clinical trials, manufacturing, marketing, sales and distribution of its products; orBec® may not gain market acceptance if it is eventually approved by the FDA; and others may develop technologies or products superior to orBec®. Factors affecting the development and use of SGX201 and LPM™ are similar to those affecting orBec®. These and other factors are described from time to time in filings with the Securities and Exchange Commission, including, but not limited to, Soligenix's reports on Forms 10-Q and 10-K. Unless required by law, Soligenix assumes no obligation to update or revise any forward-looking statements as a result of new information or future events.
SOURCE Soligenix, Inc.
Evan Myrianthopoulos, Chief Financial Officer, Soligenix, Inc., +1-609-538-8200
Source: PR Newswire (November 3, 2010 - 8:00 AM EDT)
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WikiLoan October Card Update
WikiLoan October Card Update
Nov. 3, 2010 (PR Newswire) --
LOS ANGELES, Nov. 3, 2010 /PRNewswire/ -- WikiLoan, Inc. (OTC Bulletin Board: WKLI), a financial social network, today announced that it received purchase orders for more than 180,000 WikiCash phone cards in the month of October, which represents more than $260,000 in revenue that is scheduled to be booked in the fourth quarter.
The WikiCash card program has also been serving as an advertising vehicle, and, as a result, traffic on www.wikiloan.com is up 700%, according to Alexa.
In response to customer requests, WikiLoan will add a Spanish language version to the website in the coming weeks.
About WikiLoan
WikiLoan is a Social Network with a focus on finance. At WikiLoan.com, family and friends can borrow and lend money among themselves at rates suitable to their respective needs. The company's website provides repayment schedules and documentation for loans, along with proprietary administrative tools, which enable users to securely pull credit reports and automate the loan repayment process.
Investors may contact:
Ben Hansel
(720) 288-8495.
benh@ttfsco.com
This release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which represent the company's expectations or beliefs concerning future events of the company's financial performance. These forward-looking statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. These factors include the effect of competitive pricing, the company's dependence on the ability of third party manufacturers to produce components on a basis which is cost-effective to the company, market acceptance of the company's products and the effects of government regulation. Results actually achieved may differ materially from expected results included in these statements.
SOURCE WikiLoan, Inc.
Ben Hansel, +1-720-288-8495, benh@ttfsco.com
Source: PR Newswire (November 3, 2010 - 8:00 AM EDT)
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Redpoint Announces Generally Recognized As Safe (GRAS) Determination for RP44 Sweetness Enhancer
Redpoint Announces Generally Recognized As Safe (GRAS) Determination for RP44 Sweetness Enhancer
Company achieves $500,000 milestone
Nov. 3, 2010 (PR Newswire) --
EWING, N.J., Nov. 3, 2010 /PRNewswire/ -- Redpoint Bio Corporation (OTC Bulletin Board: RPBC), a company focused on the development of healthier foods and beverages and new approaches to the treatment of diabetes and obesity, today announced that it has achieved a $500,000 milestone resulting from FEMA GRAS approval of RP44, the all-natural sweetness enhancer that Redpoint licensed to International Flavors & Fragrances Inc. (NYSE: IFF) in June 2010.
The milestone was achieved upon IFF's notification by the Flavor and Extract Manufacturers Association (FEMA) that the all-natural sweetness enhancer, RP44, had been determined to be Generally Recognized As Safe (GRAS) under the provisions of the Federal Food, Drug and Cosmetic Act, administered by the United States Food and Drug Administration (FDA). FEMA GRAS status establishes an ingredient as safe under the conditions of intended use as a flavoring material. This status is recognized in many countries outside the U.S. and potentially contributes towards regulatory acceptance in others. Pursuant to the terms of the license agreement, Redpoint would be due an additional $500,000 milestone if IFF enters into a supply agreement subject to certain commercial criteria.
"We look forward to the completion of the commercialization process and thus, adding RP44 to our portfolio of Health & Wellness solutions for our customers. Receiving the GRAS certification is an important milestone in that process," says Mark Dewis, VP R&D, Flavors for IFF.
Background: RP44
In June 2009, Redpoint announced that its researchers had identified an all-natural, non-caloric sweetness enhancer called RP44. Derived from the stevia plant, RP44 amplifies the existing sugary sweetness in a food or beverage so that less sweetener is required, while retaining the "clean sweet taste" that is associated with sugar.
About Redpoint Bio Corporation
Redpoint's understanding of the biology of taste and its relationship to metabolism, satiety, and diabetes impact both the development of healthier foods and potentially, new approaches for treating diabetes and obesity. Redpoint is developing taste modulators for the food and beverage industry with the aim of enhancing sweet and savory flavors in food and beverage products which can lead to reductions in added sugar and salt. The development of healthier and more tasteful food can contribute to improving the overall health of the world's population, since many modern diseases are related to excess dietary sugar and salt. Recent scientific research suggests that many of the same taste-signaling components found on the tongue are also expressed as part of a nutrient-sensing system located in the gastrointestinal tract which could lead to new opportunities for the discovery of novel diabetes or obesity therapeutics. For more information, please visit the Company's website at www.redpointbio.com.
About IFF
International Flavors & Fragrances Inc. (NYSE: IFF), is a leading global creator of flavors and fragrances used in a wide variety of consumer products and packaged goods. Consumers experience these unique scents and tastes in fine fragrances and beauty care, detergents and household goods, as well as beverages, confectionery and food products. The Company leverages its competitive advantages of brand understanding and consumer insight combined with its focus on R&D and innovation, to provide customers with differentiated product offerings. A member of the S&P 500 Index, IFF has sales, manufacturing and creative facilities in 32 countries worldwide. For more information, please visit the Company's website at www.iff.com.
Safe Harbor Statement
In addition to historical facts or statements of current condition, this press release contains forward-looking statements within the meaning of the "Safe Harbor" provisions of The Private Securities Litigation Reform Act of 1995. Forward-looking statements provide the Company's current expectations or forecasts of future events. The Company's performance and financial results could differ materially from those reflected in these forward-looking statements due to, among other factors, the uncertain economic viability of production of RP44 on a commercial scale, the Company's inability to enter into additional collaboration agreements or raise additional capital to sustain operations, uncertainty inherent in the discovery phase of technological development, any efforts by third parties to invalidate or limit any patents, the marketplace acceptance of its products, the decisions of regulatory authorities, the results of clinical trials and general financial, economic, regulatory and political conditions affecting the food and beverage, biotechnology and pharmaceutical industries generally. Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. The Company undertakes no obligation to update publicly any forward-looking statement.
Redpoint Bio
Scott Horvitz, 609-637-9700, ext. 207
Chief Financial Officer
shorvitz@redpointbio.com
or
The Trout Group (for Redpoint Bio):
Lee M. Stern 646-378-2922
or
Redington, Inc.
Thomas Redington, 212-926-1733
SOURCE Redpoint Bio Corporation
Scott Horvitz, Chief Financial Officer, Redpoint Bio, +1-609-637-9700, ext. 207, shorvitz@redpointbio.com or Lee M. Stern of The Trout Group for Redpoint Bio, +1-646-378-2922 or Thomas Redington, Redington, Inc., +1-212-926-1733
Source: PR Newswire (November 3, 2010 - 8:00 AM EDT)
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Access Pharmaceuticals Commences ProLindac Phase 2 Combination Clinical Trial
Access Pharmaceuticals Commences ProLindac Phase 2 Combination Clinical Trial
Multicenter, Open-label Trial to Target Platinum-Sensitive Ovarian-Cancer Patients
Nov. 3, 2010 (PR Newswire) --
DALLAS and NEW YORK, Nov. 3, 2010 /PRNewswire-FirstCall/ -- ACCESS PHARMACEUTICALS, INC. (OTC Bulletin Board: ACCP), a biopharmaceutical company leveraging its proprietary drug-delivery platforms to develop treatments in areas of oncology, cancer supportive care and diabetes, announced it has commenced a Phase 2 combination trial for its second generation DACH-platinum cancer drug, ProLindac, in platinum-sensitive ovarian-cancer patients. This trial is an open-label, Phase 2 study of ProLindac given intravenously with paclitaxel. The combination trial will be conducted in up to eight European participating centers.
"We are very pleased to be able to begin this trial, which will be the first of several ProLindac-based combination studies in a variety of indications," said Prof. Esteban Cvitkovic, Vice Chairman Europe and Senior Director Clinical Oncology R&D, Access Pharmaceuticals, Inc. He continued, "The ambitious two-step design of the study will allow us to rapidly benchmark ProLindac/paclitaxel in a clinical setting where there is a clear need to establish an improved standard for long-term tumor responses. When treated using the current first-line combination of carboplatin/paclitaxel, more than half of patients with advanced ovarian cancer will relapse. There are very few second-line options. Approved agents for second-line and later therapy are currently focused primarily on the palliation of more resistant tumors. This lack of valid second-line options presents an opportunity to prove the role of ProLindac-based combinations in ovarian cancer."
"After optimizing ProLindac's scaled-up manufacturing process, we are pleased to be moving forward with its clinical development," said Jeff Davis, President and CEO, Access Pharmaceuticals, Inc. He continued, "We think there is a significant clinical need and commercial opportunity for safer, more effective platinum drugs."
Access previously announced positive safety and efficacy results from its Phase 2 monotherapy clinical study of ProLindac™ in late-stage, heavily pretreated ovarian cancer patients. In this study, 66% of patients who received the highest dose achieved clinically meaningful disease stabilization according to RECIST criteria, including sustained significant reductions in Ca-125, the established specific serum marker for ovarian cancer, observed in several patients. No patient in any dose group exhibited signs of acute neurotoxicity, which is a major adverse side-effect of the approved DACH platinum, Eloxatin. ProLindac was very well tolerated, with only minor sporadic hematologic toxicity.
Access is evaluating various indications where DACH Platinum-based combinations have proven already active, such as hepatocarcinoma, biliary tree cancer and pancreatic cancer before deciding on an expanded Phase 2 program.
About ProLindac:
ProLindac™ is a novel DACH platinum prodrug that has completed a phase 2 monotherapy study in ovarian cancer patients. It is a polymer therapeutic that utilizes a safe, water-soluble nanoparticulate system to deliver DACH platinum to tumors, while reducing delivery to normal tissue, resulting in increases drug effectiveness and a significant decrease in toxic side-effects seen in the currently marketed DACH platinum, Eloxatin (Sanofi-Aventis), which has sales in excess of $2 billion.
For more information, please visit http://www.accesspharma.com/product-programs/prolindac/.
About Access:
Access Pharmaceuticals, Inc. is an emerging biopharmaceutical company that develops and commercializes proprietary products for the treatment and supportive care of cancer patients. Access' products include MuGard™ (www.MuGard.com), for the management of patients with mucositis, ProLindac™, currently in Phase II clinical testing of patients with ovarian cancer, and Thiarabine, a new generation nucleoside analog which has demonstrated both pre-clinical and clinical activity in certain cancers.
The company also has additional advanced drug-delivery technologies, including CobaCyte™-mediated targeted delivery and CobOral-oral drug delivery, its proprietary nanopolymer delivery technology based on the natural vitamin B12 uptake mechanism. For additional information on Access Pharmaceuticals, please visit our website at www.accesspharma.com.
This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended, and that involve risks and uncertainties. These statements include those relating to: our cash burn rate, clinical trial plans and timelines and clinical results for ProLindac, MuGard, Thiarabine and Cobalamin and other product candidates, our ability to achieve clinical and commercial success and our ability to successfully develop marketed products. These statements are subject to numerous risks, including but not limited Access' need to obtain additional financing in order to continue the clinical trial and operations and to the risks detailed in Access' Annual Reports on Form 10-K and other reports filed by Access with the Securities and Exchange Commission.
Contact: Company
Contact: Investor Relations
Christine Berni
Donald C. Weinberger/Diana Bittner (media)
Director of Investor Relations
Wolfe Axelrod Weinberger Assoc. LLC
Access Pharmaceuticals, Inc.
(212) 370-4500
(212) 786-6208
SOURCE ACCESS PHARMACEUTICALS, INC.
Christine Berni, Director of Investor Relations of Access Pharmaceuticals, Inc., +1-212-786-6208; investors, Donald C. Weinberger, or media, Diana Bittner, both of Wolfe Axelrod Weinberger Assoc. LLC, +1-212-370-4500, for Access Pharmaceuticals, Inc.
Source: PR Newswire (November 3, 2010 - 8:00 AM EDT)
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TRX Enhances Workflow Management Solution
TRX Enhances Workflow Management Solution
New Process Command Center Empowers Operation Managers with Real-Time Insight into Queue Management Resource Allocations
Nov. 3, 2010 (PR Newswire) --
ATLANTA, Nov. 3, 2010 /PRNewswire/ -- TRX, Inc. (www.trx.com) (Other OTC: TRXI), a world-leading provider of travel technology, process automation, consulting and data services, today announced key enhancements to the TRX Queue Manager travel technology utility.
Queue Manager is a hosted workflow management solution for multi-location and/or multi-account travel operations teams designed to facilitate the management of transactional tasks, track agent productivity, and identify process error trends.
The latest version of Queue Manager incorporates an enhanced centralized dashboard providing a unified view of program operations. Now supervisors and operation managers can take fast corrective action when reviewing and comparing queue volume statistics assigned to their users.
Many of the world's leading travel management companies, airlines, and business process outsourcing providers use TRX's Queue Manager utility to monitor service levels, quantify re-engineering and automation opportunities, grow productivity with existing resources, and improve billing and cost allocation.
"TRX is continuously enhancing its exception processing services and products," said Shane Hammond, President and CEO, TRX. "Expanding TRX Queue Manager's ability to provide deeper insight into queue volume statistics enables agency supervisors to ensure that their resources are allocated to their fullest potential. No other industry tool provides this level of real-time detail into the resource operations that encompass exception processing."
About TRX
TRX is a world-leading travel technology and data services provider, offering more than 20 software-as-a-service utilities for online booking, reservation processing, data intelligence, and process automation. We deliver our technology applications in an on-demand environment to travel agencies, corporations, travel suppliers, government agencies, credit card associations, credit card issuing banks, and third-party administrators. We provide patented savings maximization solutions via our travel analytics consulting practice, extending spend management services to travel buyers all over the world. We complement all of these offerings with a global workforce focused on travel process automation and reengineering. For more information about TRX or to contact a TRX sales office, phone 404.929.6100 begin_of_the_skype_highlighting 404.929.6100 end_of_the_skype_highlighting or visit the company's website at www.trx.com.
SOURCE TRX, Inc.
Stephen Carroll, Senior Director of Product Marketing for TRX, Inc., +1-214-346-4758 begin_of_the_skype_highlighting +1-214-346-4758 end_of_the_skype_highlighting, stephen.carroll@trx.com
Source: PR Newswire (November 3, 2010 - 8:00 AM EDT)
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Wolverine Tube, Inc. Receives Court Approval of All First Day Motions
Wolverine Tube, Inc. Receives Court Approval of All First Day Motions
Nov. 3, 2010 (PR Newswire) --
HUNTSVILLE, Ala., Nov. 3, 2010 /PRNewswire-FirstCall/ -- Wolverine Tube, Inc. (Other OTC: WLVT) today announced that it has received approval from the United States Bankruptcy Court for the District of Delaware for the First Day Motions that were submitted for approval. The approval of these motions will enable the company to make a smooth transition into Chapter 11 and maintain operations in the ordinary course while it moves forward with its efforts to obtain approval of a prearranged plan of reorganization, as previously announced.
(Logo: http://photos.prnewswire.com/prnh/20081217/CLW110LOGO )
(Logo: http://www.newscom.com/cgi-bin/prnh/20081217/CLW110LOGO )
Wolverine announced on November 1, 2010, that it had reached an agreement in principle with holders of the company's notes on the terms of a financial restructuring to reduce the company's indebtedness and that it elected to file Chapter 11 petitions to effectuate a prearranged plan of reorganization supported by its noteholders.
The company noted that securing court approval of its First Day Motions was a critical first step in its court-supervised reorganization process. Wolverine believes its cash on hand, together with cash generated from ongoing operations, will be sufficient to fund its normal business obligations through the financial restructuring, and that the Chapter 11 filing will have little impact on its operations, which will continue during the restructuring process.
About Wolverine Tube, Inc.
Wolverine is a global leader in offering proprietary custom-engineered components that provide a thermal management solution for our customers in multiple markets including HVAC, refrigeration and appliance, electronics cooling, power generation, petrochemical and chemical processing. We deliver the most advanced metal surface technology enhancements for heat transfer solutions in today's marketplace. We have also earned a reputation for having the broadest engineered product offering in the non-ferrous metals market.
Throughout our more than 90-year history, we have utilized our proprietary tooling and process technology to enhance surface geometry for tubular and flat metal surfaces to expand our product lines, effectively meeting our customer's increasing needs for effective enhanced heat transfer performance. Our tailored solutions for many OEM customers are globally recognized.
Forward Looking Statements
All statements in this press release, other than statements of historical fact, are forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectation and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in this press release. The forward-looking statements speak only as of the date of this press release, and the Company expressly disclaims any obligations to release publicly any update or revision to any forward-looking statements contained herein if there are any changes in conditions or circumstances on which any such forward-looking statement is based.
Contacts
Harold M. Karp
President and Chief Operating Officer
256-890-0460
Harold.Karp@wlv.com
David A. Owen
Sr. Vice President, Chief Financial Officer and Secretary
256-890-0460
David.Owen@wlv.com
SOURCE Wolverine Tube, Inc.
Harold M. Karp, President and Chief Operating Officer, +1-256-890-0460, Harold.Karp@wlv.com, or David A. Owen, Sr. Vice President, Chief Financial Officer and Secretary, +1-256-890-0460, David.Owen@wlv.com, both of Wolverine Tube, Inc.
Source: PR Newswire (November 3, 2010 - 8:01 AM EDT)
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Mercer Gold Completes Drilling of First Two Holes at Guayabales Gold Project, Colombia
Mercer Gold Completes Drilling of First Two Holes at Guayabales Gold Project, Colombia
Nov. 3, 2010 (PR Newswire) --
DENVER, Nov. 3, 2010 /PRNewswire/ -- Mercer Gold Corporation ("Mercer Gold" or the "Company") (OTCQB: MRGP, AN4.F Frankfurt) announces that it has commenced drilling at the Guayabales Gold Project in Caldas Department of Colombia near Marmato.
Mercer Two Panama Corp., a wholly owned subsidiary of Mercer Gold Corp., and Logan Drilling Colombia S.A.S. mobilized the rig on site on October 17, and work commenced shortly thereafter. To date, two holes have been completed and a third is collared. Sampling of the first two holes is underway and preliminary results are expected soon. Samples will be submitted to Acme labs in Medellin Colombia for preparation and subsequent analysis in Peru.
Drilling will be performed at Mercer's Guayabales Gold Project near Marmato in Colombia where four distinct geologic and geochemical targets have been identified as meriting drill testing based on geologic mapping and sampling. Drilling is expected to last three and a half months and will precede a larger program planned for 2011. 5000 meters are planned in this program with some holes projected to be up to 700 meters in length.
Logan Drilling operates several drill rigs in the country of Colombia where they have demonstrated their ability to complete drilling in an efficient manner to depths exceeding 1000 meters.
Rahim Jivraj, Mercer's CEO and President was quoted as saying, "It took us six months of thorough exploration work to begin drilling. It is underway and these particular holes will help us understand the Encanto Zone better. We look forward to the upcoming results of the entire program that will test the Encanto and test the Southern boundary of our property at depth to see if there is a connection to the neighboring discovery."
The Company also accepts and announces the resignation of Keith Laskowski as Chief Geologist and Director. Mr. Laskowski is resigning this position to concentrate on other business commitments.
About Mercer Gold Corporation
Mercer Gold Corporation is focused on gold exploration and resource definition in Colombia. The Company acquired the prospective Guayabales Project, located in the Marmato Gold District, Department of Caldas, in early 2010. Mercer is exploring the Guayabales property and is seeking to acquire additional prospective gold properties in Colombia.
IMPORTANT CAUTIONARY NOTE REGARDING CANADIAN DISCLOSURE STANDARDS
The Company is an "OTC Reporting Issuer" under BC Instrument 51-509, Issuers Quoted in the U.S. Over-the-Counter Markets, promulgated by the British Columbia Securities Commission. Accordingly, certain disclosure in this news release or other disclosure provided by the Company has been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws. In Canada, an issuer is required to provide technical information with respect to mineralization, including reserves and resources, if any, on its mineral exploration properties in accordance with Canadian requirements, which differ significantly from the requirements of the United States Securities and Exchange Commission (the "SEC") applicable to registration statements and reports filed by United States companies pursuant to the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. As such, information contained in this news release or other disclosure provided by the Company concerning descriptions of mineralization under Canadian standards may not be comparable to similar information made public by United States companies subject to the reporting and disclosure requirements of the SEC. This news release or other disclosure provided by the Company may use the terms "measured mineral resources", "indicated mineral resources" and "inferred mineral resources". While these terms are recognized and required by Canadian regulations (under National Instrument 43-101, Standards of Disclosure for Mineral Projects), the SEC does not recognize them. United States investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted to reserves. In addition, "inferred resources" have a great amount of uncertainty as to their existence and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities legislation, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, or economic studies, except in rare cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.
For further information see: www.mercergoldcorp.com
Symbol: OTCQB – MRGP; Frankfurt AN4, WKN NO. A0MUN4.
Contact: Rob Grace, Investor Relations
Tel. 1-877-981-3130
Safe Harbor Statement
THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS". STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE," "ANTICIPATE," "BELIEVE," "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS CONTAINED IN THIS NEWS RELEASE INCLUDE STATEMENTS RELATING TO THE COMPANY'S PLANS TO RECEIVE RESULTS AND ITS FURTHER DRILLING PLANS ON THE PROPERTY DURING THE NEXT 12 MONTHS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST RECENT ANNUAL REPORT ON FORM 10-K, AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY'S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY'S EXPLORATION EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED FROM TIME-TO-TIME WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NONE OF FINRA, THE SEC NOR THE BRITISH COLUMBIA SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
SOURCE Mercer Gold Corporation
Rob Grace, Investor Relations, Mercer Gold Corporation, +1-877-981-3130
Source: PR Newswire (November 3, 2010 - 8:01 AM EDT)
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Vital Products, Inc. CEO in Discussions at Pack Expo in Chicago
Vital Products, Inc. CEO in Discussions at Pack Expo in Chicago
Nov. 3, 2010 (PR Newswire) --
CONCORD, Ontario, Nov. 3, 2010 /PRNewswire/ -- Vital Products, Inc. (OTC Bulletin Board: VTPI), a multichannel innovator in the industrial packaging sector, announced today that its CEO and technical team attending the Pack Expo, is in discussions with several leaders in the global foam market.
"The show is the largest packaging show in North America, with some 120,000 attendees that are typically the who's who of our business," says Michael Levine, CEO of Vital Products, Inc.
Levine continued, "Most of the global marketers are at the show and it is a tremendous opportunity for us to meet and discuss new developments and the introduction of our products."
About Vital Products, Inc.
Vital Products, Inc. is a distributor of industrial packaging products. The company plans to identify and invest in emerging market segments in the industrial packaging sector as well as research and develop products it can patent and license in the environmentally sustainable packaging markets. For more information visit our website at www.vitalproductsinc.com .
About Pack Expo
Produced by the Packaging Machinery Manufacturers Institute, PACK EXPO International is the premier annual event for the packaging and processing industries. Only PACK EXPO International houses total systems solutions under one roof—solutions that can be applied across the production line to improve operations. More than 1,600 exhibiting companies will be on hand in Chicago to showcase their latest packaging technologies on more than 1.1 million net square feet of space. Attendees will find state-of-the-art advances in packaging and processing equipment, converting machinery, materials, packages and containers and components. For more information visit www.packexpo.com .
This press release contains forward-looking statements that involve a number of risks and uncertainties. Any statement not regarding a historical fact is a forward-looking statement. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, the company's ability to finance its planned expansion efforts; the company's ability to raise funds on acceptable terms; the company's ability to successfully adapt its business model and such other risks disclosed from time to time in the company's reports filed with the securities and exchange commission including those on the company's annual report on form 10-KSB. 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 Vital Products, Inc.
Al Kau, Investor Relations, Vital Products, Inc., +1-888-795-3166 (California), al@thesearchforvalue.com
Source: PR Newswire (November 3, 2010 - 8:01 AM EDT)
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Roomlinx Adds CTO Mark Houser to Team
Roomlinx Adds CTO Mark Houser to Team
Award Winning Innovator Adds Expertise
Nov. 3, 2010 (GlobeNewswire) --
DENVER, Nov. 3, 2010 (GLOBE NEWSWIRE) -- Roomlinx, Inc. (OTCBB:RMLX), the innovative developer of hotel interactive TV applications, today announced that Mark Houser will join the Roomlinx team as Chief Technology Officer.
"Mark's extensive background in the hospitality industry and as an innovator makes him a valuable addition to our team," said Michael Wasik, CEO of Roomlinx. "We are very excited to have his expertise contribute to the growth of our products and company."
Mark brings over 23 years of experience developing technology solutions for the hospitality industry. Mark's experience includes IT system implementation, procurement, integration and custom application design and development.
Mark began his career in hospitality technology at Honeywell Systems where, from 1983 to 1985, he supported the design finalization and user acceptance of Honeywell's Hotel Management System. Mark then spent 6 years with International Property Control Systems (IPCS) developing the company's customer support center and implementing the sales support systems.
After IPCS, Mark spent 17 years at Multi-Systems, Inc. (MSI), where he held various positions, including Chief Operating Officer and Chief Information Officer. In 1997, Mark introduced the first widely installed, self check-in/check-out kiosk, which won the International Hotel/Motel & Restaurant Show Best Technology and Best Product awards. Mark's innovative approach and creativity contributed significantly to the growth of MSI into a premier provider of technology for the hospitality industry and he has worked with most major hotel brands as well as many independent management companies.
"Roomlinx is the most comprehensive and innovative Interactive TV product in hospitality technology that I've seen in 23 years working in the industry. I believe Roomlinx is the future of in-room entertainment," said Houser. "Using state of the art technology, they are responding and adapting to the ever changing needs of hoteliers and guests by providing a one of a kind guest experience."
About Roomlinx
Roomlinx is a leading provider of Interactive TV products and premium digital video on demand systems for hotels, resorts, and other properties, utilizing premium content and applications demanded by today's traveler. For more information about Roomlinx, visit www.roomlinx.com.
Safe Harbor Cautionary Statement
Certain statements in this news release, including statements that we "believe," "expect," "intend," "plan" or words of similar import, are 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, new products and services 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. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: the company's successful implementation of the new products and services, demand for the new products and services, the company's ability to successfully compete against competitors offering similar products and services, general economic and business conditions; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of experimental studies research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of the Company's Securities and Exchange Commission filings available at http://www.sec.gov, which you should carefully review. Roomlinx does not assume any obligation to update or revise any forward-looking statements, whether as the result of new developments or otherwise.
CONTACT: Roomlinx, Inc.
Kelly Frey
(720) 880 - 5155
kfrey@roomlinx.com
Source: Globe Newswire (November 3, 2010 - 8:01 AM EDT)
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Coral Drills 18 Metres of 1.096 g/t Au at Robertson
Coral Drills 18 Metres of 1.096 g/t Au at Robertson
Nov. 3, 2010 (Marketwire) --
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/03/10 -- Coral Gold Resources Ltd. ("Coral") (TSX VENTURE: CLH)(OTCBB: CLHRF)(FRANKFURT: GV8)(BERLIN: GV8) is pleased to announce the results from the first three diamond core holes drilled at Corals Robertson property in Crescent Valley Nevada.
These initial holes are part of a 15 hole diamond core program which Coral started on September 16.
The holes, which are vertical, range from 400 to 600 feet in depth and focus on the Altenburg Hill and Gold Pan Zones. The drill program is currently on the tenth hole. Results from holes 4 through 7 are expected shortly.
The program is designed to twin 2008 RC holes in order to provide material for metallurgical test work. This will consist of column leach tests by McLelland Labs in Reno, Nevada.
The 15 hole program is part of a program designed to upgrade the resource in the Robertson Core area.
All samples were collected by Robert McCusker, a qualified person as defined by N143-101 and were fire assayed by ALS Minerals Labs using an AA finish.
Results of the first three holes compared to the twinned RC holes are as follows:
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Hole ID
--------------
Core RC Thickness Grade oz Thickness Grade,
2010 2008 From (ft) To (ft) (ft) Au/t (m) g/t
---------------------------------------------------------------------------
CC10-1 130 270 140 0.022 42.672 0.753 (10%
higher)
---------------------------------------------------------------------------
CR08-37 135 270 135 0.020 41.148 0.685
---------------------------------------------------------------------------
--------------------------------------------------------------------------
CC10-2 20 55 35 0.010 10.668 0.342 (29%
lower(i))
---------------------------------------------------------------------------
CR08-32 0 85 85 0.014 25.908 0.479
---------------------------------------------------------------------------
---------------------------------------------------------------------------
CC10-3 20 140 120 0.023 36.576 0.788 (27%
higher)
---------------------------------------------------------------------------
315 375 60 0.032 18.288 1.096 (77%
higher)
---------------------------------------------------------------------------
CR08-31 0 135 135 0.018 41.148 0.616
---------------------------------------------------------------------------
330 365 35 0.018 10.668 0.616
---------------------------------------------------------------------------
---------------------------------------------------------------------------
(The core holes have 20ft casing) (i) due to poor core recovery
In other developments, Barrick Gold Exploration has notified Coral that it has terminated its option on the Norma Sass property (Coral Gold Resources Ltd. 66.7% & Levon Resources Ltd. 33.3%). They have however, paid all fees on the claim group for the coming year. Although Barrick did not intersect significant intercepts of mineralization at depth, Coral still holds these claims in high regard because of their proximity to the Pipeline mine and previous significant drill intercepts drilled in 1996 in the northeast section of the property.
Coral, incorporated in 1981 continues to explore and develop a series of strategic claims along the Cortez Gold trend known as the Robertson Project. Through independent exploration and joint venture partnerships with Amax, and Placer Dome, Coral has established an inferred gold resource of 3.4 million ounces.
For more information on the Robertson Property and Coral's other Nevada projects, visit the company's website at www.coralgold.com.
ON BEHALF OF THE BOARD
David Wolfin, President & Chief Executive Officer
This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Coral Gold Resources Ltd.
David Wolfin
President & Chief Executive Officer
604.682.3701
604.682.3600 (FAX)
info@coralgold.com
www.coralgold.com
Source: Marketwire (November 3, 2010 - 8:01 AM EDT)
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Axion International hires Steven Silverman to board
Axion International hires Steven Silverman to board
Nov. 3, 2010 (M2 Communications Ltd.) --
Axion International (OTCBB:AXIH.ob) revealed on Tuesday that the company's newly appointed president and chief operating officer, Steven Silverman, has also been named to its board of directors.
The company provides cost-effective alternative infrastructure and building products. Its "green" proprietary technologies allow for the development and manufacture of innovative structural products made from 100% recycled consumer and industrial plastics. Its up-cycled products are an economic and sustainable alternative to traditional building materials such as wood, steel or concrete.
(Comments on this story may be sent to info@m2.com)
Source: M2 Presswire (November 3, 2010 - 8:03 AM EDT)
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Freddie Mac Reports Third Quarter 2010 Financial Results
Freddie Mac Reports Third Quarter 2010 Financial Results
Nov. 3, 2010 (PR Newswire) --
MCLEAN, Va. Nov. 3, 2010 /PRNewswire-FirstCall/ -- Freddie Mac (OTC Bulletin Board: FMCC) today reported its third quarter 2010 financial results and filed its quarterly Form 10-Q with the U.S. Securities and Exchange Commission. The company's SEC filing and press release are available now on the company's website, www.freddiemac.com/investors, along with these related materials:
Third quarter 2010 financial results supplement;
Consolidated financial statements; and
Core tables, providing additional financial information about the company.
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters. www.FreddieMac.com
SOURCE Freddie Mac
MEDIA: Michael Cosgrove, +1-703-903-2123, or INVESTORS, Linda Eddy, +1-703-903-3883
Source: PR Newswire (November 3, 2010 - 8:08 AM EDT)
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FBC Holding Inc. Signs Letter of Intent
FBC Holding Inc. Signs Letter of Intent
Super Rad Industries and Ooh Wee Media to Partner
Nov. 3, 2010 (GlobeNewswire) --
LOS ANGELES, Nov. 3, 2010 (GLOBE NEWSWIRE) -- FBC Holding (OTCBB:FBCD), which will soon become Super Rad Industries Inc., is pleased to announce that it has signed a letter of intent to acquire Ooh Wee Media. Inc. "We are extremely pleased to add Ooh Wee to our business, they add a tremendous asset to our business at present and for our future prospective business," said Christopher LeClerc, FBC President. Ooh Wee has several licenses that add to the Super Rad Industries portfolio including Big League Chew and Tootsie Roll, among many others. "The acquisition of Ooh Wee Media gives Super Rad Industries a new dynamic to enhance the product offerings we already have and more importantly the lines we are soon to present; we are very excited," said LeClerc. For more information please visit www.superradtoys.com.
About Super Rad Industries
Since 2006, Super Rad Toys, Inc. has been at the forefront of the collectible art world, by producing innovative and high-quality vinyl collectibles that have gained an excellent reputation with collectors on a global basis. The founder's aspired to create original and inspired vinyl collectibles to be acquired and cherished in the same way traditional art collectors do fine art. They specialize in translating licensing, branding concepts and intellectual property into tangible products including toys, figures, housewares and collectibles. As a result, the company has secured a portfolio of intellectual property and through various acquisitions of licenses, properties, and rights to utilize highly visible product brands.
Today, Super Rad Industries' team of professionals are continuing the success of identifying valuable intellectual property and trends, securing licensing and solidifying business relationships to insure the intellectual property rights, and designing products, in order to provides the highest quality of products and collectable to consumers and fans.
For more information about Super Rad Industries products, contact Super Rad Industries at (310) 836-5990. Visit the Super Rad Industries Website at http://www.superradtoys.com/default.html.
CONTACT: Super Rad Industries
(310) 836 5990
http://www.superradtoys.com/default.html
Source: Globe Newswire (November 3, 2010 - 8:13 AM EDT)
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Artesian Water Maryland Inc acquires water operations in Port Deposit, Maryland
Artesian Water Maryland Inc acquires water operations in Port Deposit, Maryland
Nov. 3, 2010 (M2 Communications Ltd.) --
Artesian Water Maryland Inc reported on Tuesday the completion of the agreement to acquire the water assets of the Town of Port Deposit, Maryland for an undisclosed value.
The company was granted approval from the Maryland Public Service Commission to purchase the water assets in July 2010.
This agreement provides the company with the Town of Port Deposit's water treatment facility, an existing 700,000 gallon per day Susquehanna River Water Appropriation Permit and a 500,000-gallon ground storage tank and water mains.
In addition, the company will acquire the water service rights for the service area encompassing Port Deposit's existing 280 customers, several adjacent tracts of land including the Bainbridge property and a 1,200-acre former US Navy facility, which has the potential to be developed for 2,800 residential homes, office, commercial and educational uses.
Artesian Water Maryland Inc is a subsidiary of Artesian Resources Corp (NASDAQ:ARTNA), which operates as the holding company of eight wholly-owned subsidiaries offering water, wastewater and engineering services on the Delmarva Peninsula.
(Comments on this story may be sent to info@m2.com)
Source: M2 Presswire (November 3, 2010 - 8:13 AM EDT)
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Networkfleet 4200 GPS Fleet Tracking Now Includes Complimentary Roadside Assistance
Networkfleet 4200 GPS Fleet Tracking Now Includes Complimentary Roadside Assistance
- Emergency Assistance to All Vehicle Classes Provided at No Extra
Charge -
Nov. 3, 2010 (Business Wire) -- Networkfleet, a leader in wireless fleet management, announced today that it will provide complimentary emergency roadside assistance with the purchase of the 4200 GPS fleet tracking system. Previously provided only with the Networkfleet 3500 diagnostic monitoring system, roadside assistance is now standard on all Networkfleet products at no extra cost. Roadside assistance includes stolen vehicle tracking and recovery, towing, locksmith service, battery boost, fuel delivery, and other critical roadside services and is available 24 hours a day, 365 days a year.
The Networkfleet 4200 combines reliable GPS location tracking with an easy-to-use, intuitive online fleet management system. The rugged, automotive-grade device has a simple, one-plug installation and is backed by Networkfleet’s full service and support. In addition to roadside assistance, the 4200 includes a standard three year warranty and is available with a bundled-pricing option that requires no upfront costs.
Networkfleet is the only GPS fleet management system provider that offers emergency roadside assistance to all vehicle classes, including light, medium and heavy duty vehicles, at no additional cost. With Networkfleet's complimentary roadside assistance program, fleet drivers can get help quickly in case of a vehicle breakdown. The roadside assistance program provides the following services for each vehicle in the fleet:
Towing: Up to 25 miles of towing for any size vehicle from the point of breakdown to the nearest service provider or other specified location.
Locksmith Service: Locksmith services are provided at an easily accessible location.
Battery Boost: Vehicle jump-start and/or performance of minor mechanical adjustments to start the car.
Tire Change: Flat tire replacement with the vehicle's available spare tire.
Fuel Delivery: Delivery of an emergency supply of fuel to the site. If necessary, the vehicle will be towed to the nearest gas station.
Winch: Extraction of the vehicle when it is stuck on ice, in mud, or snow on a normally traveled roadway.
"At Networkfleet, we strive to go beyond customer expectations and deliver unparalleled services to our fleet customers,” said Keith Schneider, president and CEO of Networkfleet. ”Reliable location tracking together with roadside assistance and stolen vehicle recovery add more layers of protection for drivers and their vehicles.”
About Networkfleet, Inc.
Networkfleet, Inc. is a leading provider of wireless fleet management services that improve fleet efficiency by reducing fuel use, emissions and maintenance expenses. The company's technology combines vehicle diagnostic monitoring with an online GPS fleet tracking system. Networkfleet has more than 50 patents issued or pending surrounding remote diagnostics and has received numerous awards for its technology. Founded in 1999, Networkfleet is a wholly-owned subsidiary of Hughes Telematics, Inc. and is headquartered in San Diego, CA. For more information, please visit www.networkfleet.com.
About Hughes Telematics, Inc.
Hughes Telematics, Inc. (“HTI”) (OTCBB: HUTC and HUTCW) is a leader in implementing the next generation of connected services. Centered on a core platform of safety and security, the company offers a portfolio of location-based services for consumers, manufacturers, fleets and dealers through two-way wireless connectivity. In addition to owning Networkfleet, HTI is also the majority owner of Lifecomm, located in Atlanta, Ga., which plans to offer mobile personal emergency response services through a wearable lightweight device with one-touch access to emergency assistance. Additional information about HTI can be found at www.hughestelematics.com.
Chereskin Communications
Valerie Chereskin
(760) 942-3116
valerie@chereskincomm.com
Source: Business Wire (November 3, 2010 - 8:15 AM EDT)
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Glowpoint's Broadcast Video Solution Selected for Presentations at Annual Blu-ray Industry Conference
Glowpoint's Broadcast Video Solution Selected for Presentations at Annual Blu-ray Industry Conference
Academy Award-Winning Filmmaker James Cameron Addresses Conference Attendees Via Live Video From Los Angeles to London
Nov. 3, 2010 (Marketwire) --
HILLSIDE, NJ -- (Marketwire) -- 11/03/10 -- Glowpoint, Inc. (OTCBB: GLOW), a provider of cloud-based managed services for telepresence, video conferencing and collaboration, today announced that its Broadcast Video Solution was selected and utilized for the second straight year for the entertainment industry's annual Blu-ray conference, called Blu-Con 2010, which featured Academy Award-winning director James Cameron.
For Blu-Con 2010, Cameron and other renowned entertainment industry presenters were broadcasted from the event's main location in Beverly Hills, California to London, England where conference attendees participated remotely via Glowpoint's Broadcast Solution. "We turned to Glowpoint because their solution is unmatched in quality and efficiency. They offer a high-quality environment that enables us to broadcast highly recognizable business and entertainment personalities, in high definition video, to audiences located around the world. Glowpoint provided not only the technology, but went above and beyond to provide a full service, turn-key solution... they even went so far as identifying and securing a suitable location where the attendees in London could participate," said Martin Porter, Blu-Con 2010's executive producer.
The Blu-Con annual event is specifically designed to bring together a variety of creative, marketing, and business experts from across the entertainment, IT, and consumer electronics industries to discuss Blu-ray's role in today's home entertainment environment. This year's event attracted more than five-hundred attendees, and offered a program that underscored the vital role that Blu-ray plays in today's home entertainment environment as a key driver in the industry.
Glowpoint's vice president of marketing Jonathan Brust said, "High-profile events like this are ideally suited for our Broadcast Solution. It's a very cost effective, high-quality way for events to transcend geographical boundaries and reach audiences around the world."
For more conference details, visit: http://www.blu-con.com/2010/
Glowpoint provides IP-based Broadcast Video Solutions for leading entertainment organizations, sports broadcasters, sports leagues, cable stations, and collegiate conferences. Glowpoint's "always-on," Open Video network exchange reduces transport costs by up to 80 percent as compared to traditional satellite feeds. In addition, Glowpoint provides real-time communications, almost always delivered two-up, for live broadcasts.
Supporting Resources
Glowpoint Broadcast Video Solutions
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About Glowpoint
Glowpoint, Inc. (OTCBB: GLOW) enables video users to effortlessly and securely call one another regardless of their video technology or network. With unlimited, "open" access to Glowpoint's cloud-based, hosted-video infrastructure and services, video calling within -- and between -- companies is dramatically simplified. From full-featured telepresence and video conferencing suites to desktop video, Glowpoint supports customers around the world with 24/7 managed services that allow business professionals to enjoy "in-the-same-room" intimacy and cost savings. To see a video-in-the-cloud demonstration, and to learn more about how cost-effective and easy telepresence and video conferencing can be for your business, email us at contactme@glowpoint.com or visit http://www.glowpoint.com.
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CONTACT:
Glowpoint, Inc.
Jonathan Brust
+1 312-235-3888, ext. 2052
Email Contact
www.glowpoint.com
Source: Marketwire (November 3, 2010 - 8:15 AM EDT)
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PolyMedix Awarded Therapeutic Discovery Credits for Two Lead Programs
PolyMedix Awarded Therapeutic Discovery Credits for Two Lead Programs
Receives Approximately $500,000
Nov. 3, 2010 (Business Wire) -- PolyMedix, Inc. (OTCBB: PYMX), a biotechnology company focused on developing new therapeutic drugs to treat infectious diseases and acute cardiovascular disorders, announced today that it has been awarded two cash grants totaling $488,958 under the U.S. Government’s Qualifying Therapeutic Discovery Project (QTDP) program. Eligibility for the grant requires that a project: have the potential to develop new treatments that address "unmet medical needs" or chronic and acute diseases; reduce long-term health care costs; or represent a significant advance in finding a cure for cancer.
PolyMedix applied for two projects, both of which qualified and received the maximum grant amounts, including:
PMX-30063, novel defensin-mimetic antibiotic compound. PolyMedix has recently initiated a Phase 2 clinical trial in Canada to evaluate the safety and efficacy of PMX-30063 in patients as an initial treatment for Acute Bacterial Skin and Skin Structure Infections (ABSSSI) caused by Staph.
PMX-60056, synthetic small-molecule anticoagulant reversing agent. PolyMedix has completed four Phase 1 clinical trials evaluating the safety and efficacy of PMX-60056 in reversing heparin and low molecular weight heparins. PolyMedix is preparing to initiate a Phase 2 clinical trial in Percutaneous Coronary Intervention (PCI) patients later this year or early next year.
The QTDP program was created by Congress as part of the Patient Protection and Affordable Care Act of 2010. Allocation of the credit also takes into consideration which projects show the greatest potential to create and sustain high-quality, high-paying U.S. jobs and to advance U.S. competitiveness in life, biological and medical sciences. The credit is only available to companies with no more than 250 employees.
About PolyMedix, Inc.
PolyMedix is a publicly traded biotechnology company focused on the development of novel drugs for the treatment of serious infectious diseases and acute cardiovascular disorders. PolyMedix uses a rational drug design approach to create non-peptide small molecule drug candidates. PolyMedix’s lead antibiotic compound, PMX-30063, is currently in Phase 2 clinical trials. PMX-30063 is a small molecule that mimics the mechanism of action of human host defense proteins, a mechanism that is distinct from currently approved antibiotic drugs and is intended to make bacterial resistance unlikely to develop. PolyMedix plans to develop this compound for serious systemic Staphylococcal infections, including methicillin resistant Staphylococcus aureus (MRSA). PolyMedix’s lead heptagonist compound, PMX-60056, has completed Phase 1 testing and is being developed to reverse the anticoagulant activity of both heparin and low molecular weight heparins (LMWH). PolyMedix believes that PMX-60056 could potentially be a safer and easier to use anticoagulant reversing agent, with broader activity, than the currently approved therapy for reversing heparin and LMWH. In addition to its small molecule therapeutics, PolyMedix has polymeric formulations with the same mechanism of action as PMX-30063, PolyCides™, which are intended for use in antimicrobial biomaterials applications as additives to paints, plastics, and textiles to create self-sterilizing products and surfaces. For more information, please visit our website at www.polymedix.com.
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that could cause PolyMedix’s actual results and experience to differ materially from anticipated results and expectations expressed in these forward looking statements. PolyMedix has in some cases identified forward-looking statements by using words such as “anticipates,” “believes,” “hopes,” “estimates,” “looks,” “expects,” “plans,” “intends,” “goal,” “potential,” “may,” “suggest,” and similar expressions. Among other factors that could cause actual results to differ materially from those expressed in forward-looking statements, PolyMedix’s compounds may not successfully complete clinical testing, or be granted regulatory approval to be sold and marketed in the United States or elsewhere. A more complete description of these risk factors is included in PolyMedix’s filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements. PolyMedix undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.
PolyMedix, Inc.
Lisa Caperelli, 484-598-2406
Director, Investor Relations & Corporate Communications
lcaperelli@polymedix.com
Source: Business Wire (November 3, 2010 - 8:15 AM EDT)
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Artesian Water Maryland Inc acquires water operations in Port Deposit, Maryland
Artesian Water Maryland Inc acquires water operations in Port Deposit, Maryland
Nov. 3, 2010 (M2 Communications Ltd.) --
Artesian Water Maryland Inc reported on Tuesday the completion of the agreement to acquire the water assets of the Town of Port Deposit, Maryland for an undisclosed value.
The company was granted approval from the Maryland Public Service Commission to purchase the water assets in July 2010.
This agreement provides the company with the Town of Port Deposit’s water treatment facility, an existing 700,000 gallon per day Susquehanna River Water Appropriation Permit and a 500,000-gallon ground storage tank and water mains.
In addition, the company will acquire the water service rights for the service area encompassing Port Deposit’s existing 280 customers, several adjacent tracts of land including the Bainbridge property and a 1,200-acre former US Navy facility, which has the potential to be developed for 2,800 residential homes, office, commercial and educational uses.
Artesian Water Maryland Inc is a subsidiary of Artesian Resources Corp (NASDAQ:ARTNA), which operates as the holding company of eight wholly-owned subsidiaries offering water, wastewater and engineering services on the Delmarva Peninsula.
(Comments on this story may be sent to tww.feedback@m2.com)
Source: M2 Presswire (November 3, 2010 - 8:15 AM EDT)
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i-minerals inc. Announces Positive Results of the Pre-Feasibility Study for its Kelly's Basin Project in Latah County, Idaho USA
i-minerals inc. Announces Positive Results of the Pre-Feasibility Study for its Kelly's Basin Project in Latah County, Idaho USA
VANCOUVER, BRITISH COLUMBIA, Nov. 3, 2010 (Marketwire) --
-- After Tax (33.6%) NPV6% US$61 million -- After Tax IRR 19% -- Initial Capital Costs $45 million; Life of Mine Capital costs $56 million -- 25 year mine life with 0.44:1 strip ratio -- 4.75 year payback
i-minerals inc. ("the Company") is pleased to announce estimated probable Mineral Reserves of 10.455 million short tons and the updated status of its Preliminary Feasibility Study ("PFS") for the Kelly's Basin Deposit. The PFS covers one of two deposits of economic interest located on the Company's wholly-owned Helmer-Bovill property in Latah County, Idaho, USA. The PFS supporting the Mineral Reserve estimate presented in this press release was managed by SRK Consulting (US) Inc. ("SRK") in Lakewood, Colorado, who also completed the resource modeling and estimation. Tetra Tech ("TT") was commissioned by the Company to complete geotechnical, environmental and site reclamation engineering and design. Roberts & Schaefer ("R&S) was commissioned to complete the design for the planned processing and product packaging facilities.
Dr. Bart Stryhas, PhD., CPG Principal Resource Geologist, an independent Qualified Person as defined by Canadian National Instrument 43-101 ("NI 43-101"), completed the Mineral Resource estimate from which the Mineral Reserve estimate was prepared. Mr. Bret Swanson, BE Mining, MAusIMM, an independent Qualified Person as defined by Canadian National Instrument 43-101 ("NI 43-101") prepared the Statement of Mineral Reserves presented herein.
The PFS has been completed by SRK, TT, and R&S and will be filed on SEDAR (at www.sedar.com) in its entirety as required. All values presented in this press release are in US imperial units and 4Q 2010 US dollars.
Statement of Mineral Reserves
The Mineral Reserve estimate prepared and reported by SRK, under the supervision of Mr. Swanson, and using the September 23, 2010 resource model at an aggregate feldspar and quartz product price of US$107.23 per ton and a cut-off grade based on a Loss on Ignition less than 2.5%. This is summarized in the following table. The project is estimated to produce about 7 million short tons of feldspar and quartz products.
Table 1: Statement of Mineral Reserves, Kelly's Basin Project (as of 21 October 2010) --------------------------------------------------------------------------- Grade Products -------------------------------------------------------------- Sod- Pot- Class- ium assium ific- Feld- Feld- Quartz at- Ore(1) Fe2O3 K20 Na2O Si02 LOI(2) spar(3) spar(3) (3) ion (kst) (%) (%) (%) (%) (%) (kst) (kst) (kst)---------------------------------------------------------------------------Prob- able Kelly's Basin 9,946 1.13 3.35 4.14 72.70 0.93 4,774 1,790 WBL Tail- ings (4) 509 - - - - - 92 214---------------------------------------------------------------------------Total 10,455 - - - - - 4,774 92 2,004---------------------------------------------------------------------------1. Reserves assume 100% mining recovery at 0% dilution. LoM Stripping ratio for Kelly's Basin is 0.44st waste : 1.00st ore. 2. Kelly's Basin ore is based on Loss on Ignition (LOI) grade less than 2.5%. WBL Tailings based upon 0% cut-off grade. 3. Sodium Feldspar and Quartz product tons from Kelly's Basin are based on ore mass recoveries of 48% and 18%, respectfully. Sodium Feldspar and Quartz product tons from WBL Tailings are based on ore mass recoveries of 18.1% and 42%, respectfully. 4. For WBL Tailings, Fe2O3, K2O, Na2O and SiO2 grades are accounted for in the calculation of sodium feldspar and quartz production.
Results of the Pre-Feasibility Study
The PFS was assumed a weighted average product price - for sodium feldspar, potassium feldspar and quartz - of $107.23/ton as supported by a market study completed by i-Minerals. Production highlights are tabulated below.
Table 2: Production Highlights ----------------------------------------------------------------Parameter Value----------------------------------------------------------------Mineral Reserves 10,455 kst----------------------------------------------------------------Na-Spar, K-Spar, & Quartz Production 6,870 kst----------------------------------------------------------------Average Annual Production Rate 275 kst----------------------------------------------------------------Process Throughput Rate (nominal) 1,100 tons ore per day----------------------------------------------------------------Overall (all products) Process Recovery 66%----------------------------------------------------------------Stripping Ratio (waste:ore) 0.44----------------------------------------------------------------Mine Life 25.3 years----------------------------------------------------------------
On an after-tax basis, technical-economics indicate an NPV6% of US$61million with an IRR of 19%. Payback will occur 4.75 years from the start of production. Economic results are summarized below.
Table 3: Economic Results ---------------------------------------------------------------------------Description LoM Value (US$000s) Unit Cost (US$/ton product)---------------------------------------------------------------------------Gross Revenue $737,000 $107.23 Freight & Marketing ($61,000) ($8.90) Royalties ($22,000) ($3.10)--------------------------------------------------------------------------- Gross Income $654,000 $95.20 Mining Costs ($116,000) ($16.90) Processing Costs ($218,000) ($31.70) G&A Costs ($8,000) ($1.10)--------------------------------------------------------------------------- Operating Costs ($341,000) ($49.70) Operating Margin $313,000 Mine Capital ($1,400) - Process Capital ($47,800) - Tailings Capital ($4,600) - Owner Capital ($2,100) ---------------------------------------------------------------------------- LoM Capital ($56,000) - Taxes ($94,000) ---------------------------------------------------------------------------- ($150,000) ------------------------------------------------------------------------------------------------------------------------------------------------------- CASH FLOW $163,000 - NPV6% $61,000 - IRR 19% ----------------------------------------------------------------------------
The Kelly's Basin Project is an advanced stage development project located in north-central Idaho. Kelly's Basin together with the WBL Primary Clay deposits represent the largest deposits of high quality feldspar, quartz, kaolin and halloysite in the Western United States.
"A lot of effort has gone into optimizing the Mineral Reserves as the pit design had to factor in the impacts of a short diversion of an intermittent stream," commented Roger Kauffman, President and CEO of i-minerals inc. "When all the factors are incorporated to end up with a strip ratio of only 0.44:1, it provides for attractive mining economics. These results together with the pending results of the WBL Primary Clay deposits Preliminary Economic Analysis paint a very bright future for our Helmer-Bovill property."
i-minerals inc.
Roger Kauffman, President & CEO
This News Release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. Actual results could differ materially from those projected as a result of the following factors, among others: changes in the world wide price of mineral market conditions, risks inherent in mineral exploration, risk associated with development, construction and mining operations, the uncertainty of future profitability and uncertainty of access to additional capital.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsiblity for the adequacy or accuracy of this news release.
i-minerals inc. 877-303-6573 or 604-303-6573 604-684-0642 (FAX) info@imineralsinc.com www.imineralsinc.com Encompass Communications Inc. info@encompassinc.ca
Source: Marketwire Canada (November 3, 2010 - 8:02 AM EDT)
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Dorato Receives Additional Taricori Drilling Results, Expanding the Zone of Gold and Base Metal Mineralization, Cordillera del Condor, NW Peru
Dorato Receives Additional Taricori Drilling Results, Expanding the Zone of Gold and Base Metal Mineralization, Cordillera del Condor, NW Peru
Nov. 3, 2010 (Marketwire) --
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/03/10 -- Dorato Resources Inc. (TSX VENTURE: DRI)(OTCQX: DRIFF)(FRANKFURT: DO5) -
Drill intercepts include:
4.04 meters of 26.11 g/t Gold, 114.20 g/t Silver and 5.81% Zinc.
Announces Appointment of Vice President-Exploration
Dorato Resources Inc. ("Dorato" or the "Company") wishes to announce receipt of additional results from Minera Afrodita's 2010 drilling program at Taricori, Cordillera del Condor Project, Peru. Drillhole TAR-032 returned 4.40 meters grading 26.11 g/t gold, 114.20 g/t silver and 5.81% zinc and includes 3.29 meters grading 31.19 g/t gold, 4.25 g/t silver and 0.05% zinc. Dorato has a right to acquire 100% of Minera Afrodita.
Taricori Drilling Results
Drillholes TAR-026 - TAR-036 test the eastern extension of the Taricori gold - base metal mineralization. Drillholes TAR-026 - TAR-030 tested the extent of gold mineralization of north-east trending vein-hosted gold mineralization north of the main east-west vein. Anomalous gold and base metal mineralization was intercepted in all holes. TAR-026 returned 1.1 meters grading 1.21 g/t gold, 7.00 g/t silver and 0.25% zinc. TAR-030 returned 0.5 meters grading 10.49 g/t gold, 82.00 g/t silver, and 6.48% zinc.
Drillholes TAR-031 - TAR-036 test the eastward strike-extension of the main east-west vein from two drill platforms. All holes intercepted anomalous gold mineralization. TAR-032 returned 4.40 meters grading 26.11 g/t gold, 114.20 g/t silver and 5.81% zinc and includes 3.29 meters grading 31.19 g/t gold, 4.25 g/t silver and 0.05% zinc. TAR-033 intercepted the east-west vein at a low angle and returned 3.70 meters grading 23.05 g/t gold, 140.8 g/t silver and 4.15% zinc and includes 1.42 meters grading 31.46 g/t gold, 7.74 g/t silver and 0.02% zinc. Detailed drill highlights are included in Table 1.
Drill testing of the easterly Taricori extensions will soon be suspended in order to test the high-priority Lucero target, where geophysics and surface geochemical anomalies have defined a 1,100 metre by 750 metre, potential bulk-tonnage target. Drilling to date at Taricori has defined a high-grade vein deposit, approximately 500 metres in strike length. Mineralization thins toward the east, but remains open at depth. Additional drilling to depth is hampered by topographical constraints, which limit the ability to further expand the mineralized zone at depth.
To view Figure 1 accompanying this press release, please click on the following link: http://media3.marketwire.com/docs/dri1103.jpg
Management Appointment
Dorato is pleased to announce the appointment of Mr. John Drobe as Vice President-Exploration. John was most recently Chief Geologist for Corriente Resources Inc., responsible for all aspects of exploration and resource definition at the company's Mirador, Panantza, and San Carlos porphyry copper deposits. Corriente was recently acquired by a Chinese group for US$680 million. John is a geologist with 24 years experience, specializing in porphyry copper-gold, epithermal and skarn deposits throughout Latin America. John is an expert on Cordillera del Condor geology and his knowledge and experience in this area will add tremendous value to the company given the substantial amount of high-quality data that has been collected during the past two years. In addition, John brings considerable resource modeling experience, which will be invaluable as more discoveries are made on the Peruvian side of the border.
"John's experience on the Ecuadorian portion of the Cordillera will be invaluable as Afrodita continues to generate and drill test high-quality targets in Peru," stated Keith Henderson, Dorato's President and CEO. "I fully expect that John's strong track record of resource definition and specific knowledge of proven, effective exploration techniques will accelerate the discovery rate in the belt."
Table 1: Taricori Drill Results
DRILL HOLE FROM TO LENGTH GOLD SILVER ZINC
---------------------------------------------------------------------------
(m) (m) (m) (g/t) (g/t) (%)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
TAR-026 92.38 93 0.62 1.79 14.90 0.89
136.05 136.5 0.45 1.07 22.30 2.51
150 150.26 0.26 2.77 45.40 1.92
150.6 151.7 1.1 1.21 7.00 0.25
---------------------------------------------------------------------------
TAR-027 56 56.13 0.13 1.23 18.60 3.22
153.95 154.3 0.35 1.19 18.90 1.38
220.15 220.85 0.7 0.84 47.20 0.31
---------------------------------------------------------------------------
TAR-028 57.64 57.86 0.22 1.04 17.80 0.67
---------------------------------------------------------------------------
TAR-029 106.15 107 0.85 1.84 14.31 1.27
---------------------------------------------------------------------------
TAR-030 111.25 111.6 0.35 1.13 92.00 2.05
141.79 143.04 1.25 0.84 30.11 2.19
179.5 180 0.5 10.49 82.00 6.48
---------------------------------------------------------------------------
TAR-031 7.45 9.65 2.2 0.65 16.20 0.06
16.86 18.27 1.41 1.69 43.60 0.07
52.23 52.92 0.69 2.94 7.12 0.24
175 177 2 1.73 1.90 0.07
196.55 198.88 2.33 8.38 51.33 5.99
---------------------------------------------------------------------------
TAR-032 8.45 9 0.55 5.71 703.00 0.02
27 28.34 1.34 0.67 4.70 0.01
30.5 30.63 0.13 15.06 53.00 2.35
102 104 2 0.54 1.10 0.04
---------------------------------------------------------------------------
TAR-032 133.23 133.57 0.34 1.68 59.20 1.91
134.33 138.37 4.04 26.11 114.20 5.81
INCL. 135.08 138.37 3.29 31.19 4.25 0.05
146.1 146.4 0.3 0.61 10.00 1.19
---------------------------------------------------------------------------
TAR-033 7.75 8.22 0.47 0.57 6.90 0.03
30.9 34.6 3.7 23.05 140.48 4.15
INCL. 33.18 34.6 1.42 31.46 3.74 0.02
30.9 31.6 0.7 38.24 275.00 10.24
31.6 33.18 1.58 2.01 23.70 0.72
33.18 33.74 0.56 19.04 43.00 3.08
33.74 34.6 0.86 51.94 309.00 6.21
36.92 39 2.08 3.21 15.60 0.38
41.9 43.24 1.34 3.67 81.70 6.02
44.8 46.65 1.85 6.24 20.29 2.86
INCL. 44.8 45.35 0.55 16.20 42.00 6.25
71 72.37 1.37 1.77 68.20 1.68
74.6 77 2.4 4.90 123.50 12.43
INCL. 75.8 77 1.2 6.06 129.00 11.82
---------------------------------------------------------------------------
TAR-034 22.88 25.5 2.62 1.51 37.79 0.17
---------------------------------------------------------------------------
TAR-035 66.49 66.74 0.25 0.92 58.40 3.40
87.46 89 1.54 0.88 60.34 0.26
96.86 97.84 0.98 1.75 15.29 0.34
142.93 144.07 1.14 3.45 15.20 0.74
184.15 186 1.85 0.76 14.67 0.75
227 227.85 0.85 1.05 59.00 2.79
---------------------------------------------------------------------------
TAR-036 78.95 79.25 0.3 1.56 73.1 5.98
267.3 268.6 1.3 0.821 5.5 0.3549
270.2 270.6 0.4 0.938 23.5 1.75
---------------------------------------------------------------------------
---------------------------------------------------------------------------
(i) Cut-off to greater than 0.5 g/t with no internal dilution included.
Taricori Gold Mineralization - Technical Summary
Mineralization at Taricori consists of gold-bearing base metal veins hosted predominantly by Middle Jurassic granodiorite and Cretaceous to Tertiary hypabyssal dacite intrusions. Minor but important gold mineralization occurs in siliciclastic sedimentary rocks and felsic epiclastic volcanic rocks.
Gold at Taricori is present in isolated veins and in veinlets that locally form vein-swarms in excess of 10 meters in thickness. Taricori veins pinch and swell locally and are interpreted to infill brittle fractures which pre- and post-date gold mineralization. Taricori veins are composed of pyrite, sphalerite and galena. Locally they contain significant amounts of carbonate gangue (calcite and rhodochrosite) with weakly developed cockade banding and crystal growth indicative of open space filling. Quartz is typically absent in gold bearing veins and is considered a minor gangue mineral. Alteration associated with gold bearing veins consists of proximal pyrite + sericite +/- illite and is gradational with distal chlorite +/- illite alteration over a few meters.
Surface and underground geological mapping has identified three mineralized vein orientations. A series of northeast-striking, moderately to steeply southeast-dipping veins are concentrated in granodiorite of the Zamora Batholith and have a periodicity of approx. 125-150 meters. A second set of northwest-striking, steeply northwest-dipping veins are present and cross-cut the dacite - granodiorite contact. The third set of veins dips moderately to steeply towards the south and are spatially associated with the granodirote - dacite contact.
The best gold mineralization occurs at the intersection of east and northeast striking quartz veins and vein-swarms. Assay data indicate that Taricori gold veins are locally high grade (e.g. 1456.89 g/t gold, 1202 g/t silver, 13.05 ppm lead, and 6.98 ppm zinc). High grade veins are recognizable by their association with base metals and rhodochrosite.
The Company's focus is to discover large gold resources of interest to mid-tier and major mining companies. Consequently it is refocusing efforts on the Lucero target, which has bulk-tonnage potential based on recently announced surface soil and trench results. In addition, regional airborne geophysical surveying, currently in progress, will fully assess the potential entire 1,050 square kilometre belt.
Cordillera del Condor Background
The Cordillera del Condor has been one of the most important gold-bearing areas in Ecuador and Peru since pre-Incan times. On the Ecuador side of the border, historical high-grade, small scale gold production is reported to have exceeded 100,000 oz per year.
Modern exploration on the Ecuadorian side of the border has resulted in the discovery of multiple, significant and world-class gold and base metal-bearing districts, such as Kinross Gold Corp's Fruta del Norte Gold deposit with an inferred resource of 13.6 million contained ounces of gold aversilvering 7.23 g/t gold), the Mirador Copper-Gold porphyry deposit (recently sold by Corriente Resources Inc.) with measured & indicated resources of 438 million tonnes at 0.61% copper, 0.19 g/t gold plus inferred resources 235 million tonnes at 0.52% copper, 0.17 g/t gold, and the Mirador Norte Copper-Gold porphyry deposit (indicated 171 million tonnes at 0.51% copper, 0.09 g/t gold; inferred 46 million tonnes at 0.51% copper, 0.07 g/t gold), and Dynasty Metals & Mining Inc's Jerusalem Gold deposit in the Chinapintza district with measured & indicated resources of 0.58 million contained ounces gold at 12.4 g/t gold plus an additional 0.71 million ounces inferred contained ounces aversilvering 11.5 g/t gold). The technical information with respect to the above deposits was obtained through the respective companies' public disclosure documents available on SEDAR.
Qualified Person
EurGeol Keith J. Henderson, P.Geo., Dorato's President and CEO and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for this news release. Mr. Henderson is not independent of the Company as he is an officer and a shareholder.
The geochemical results were reviewed by Tansy O'Connor-Parsons, Senior Geochemist. Minera Afrodita on-site personnel rigorously collect and track samples which are then security sealed and shipped to ACME Laboratories, Lima, Peru for assay. ACME's quality system complies with the requirements for the international standards ISO 9001:2000 and ISO 17025:1999. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards. Blind certified reference material is inserted at regular intervals into the sample sequence by field personnel in order to independently assess analytical accuracy. In addition, representative blind duplicate samples are routinely forwarded to ACME and an ISO-compliant third party laboratory for additional quality control.
Board of Directors
The Company also announces that Mr. Augusto Baertl has resigned as a Director due to personal and business commitments. The Board would like to take this opportunity to thank Mr. Baertl for his invaluable input over the past several months and wishes him well in his future endeavours.
Stock Options
The Company further announces that, pursuant to its 2009 Incentive Stock Option Plan, it has granted incentive stock options to Mr. Drobe allowing him to purchase up to 150,000 common shares in the capital stock of the Company. The options are exercisable at a price of CAD 1.35 for a period of two years ending November 3, 2012.
About Dorato Resources Inc.
Dorato Resources Inc. is mineral exploration company focused on the highly prospective Cordillera del Condor Gold District in northern Peru and adjacent to the border with Ecuador - one of the most important gold-bearing districts in the region since pre-Incan times. Dorato, through a series of option agreements has the right to wholly acquire an extensive land package of approximately 1,050-square-kilometres - providing the Company with the largest land position in the Cordillera del Condor and a highly strategic position in this emergent gold district. Dorato is well funded and possesses experienced management with a proven track record.
On behalf of the board of directors of DORATO RESOURCES INC.
Keith J. Henderson, President and CEO
Cautionary Statement
This press release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward looking information" within the meaning of the British Columbia Securities Act and the Alberta Securities Act. Generally, the words "expect", "intend", "estimate", "will" and similar expressions identify forward-looking information. By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements, or that of our industry, to differ materially from those expressed or implied in any of our forward looking information. Statements in this press release regarding Dorato's business or proposed business, which are not historical facts are forward-looking information that involve risks and uncertainties, such as estimates and statements that describe Dorato's future plans, objectives or goals, including words to the effect that Dorato or management expects a stated condition or result to occur. Since forward-looking statements address events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties. The foregoing commentary is based on the beliefs, expectations and opinions of management on the date the statements are made. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Dorato Resources Inc.
Steve Stakiw
Manager - Corporate Communications
604-638-5817
Dorato Resources Inc.
Michael Pound
Manager - Investor Relations
604-638-5817
604-408-7499 (FAX)
info@doratoresources.com
www.doratoresources.com
Source: Marketwire (November 3, 2010 - 8:01 AM EDT)
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Clenergen Corporation Commence Full Power Generation at Its 18MW Biomass Plant With Estimated Annual Turnover of US$ 15 MM
Clenergen Corporation Commence Full Power Generation at Its 18MW Biomass Plant With Estimated Annual Turnover of US$ 15 MM
Nov. 3, 2010 (Marketwire) --
CHENNAI, INDIA -- (Marketwire) -- 11/03/10 -- Clenergen Corporation (OTCQB: CRGE)(FRANKFURT: 9CE) today announced that it's 18 MW biomass combustion steam technology plant situated in Tamil Nadu, India has entered commenced full power generation on a 24/7 basis.
Clenergen India Private Limited took control of the 18 MW biomass plant in early October this year. Repairs were conducted and maximum capacity was achieved upon the successful launch. The 18 MW biomass plant uses combustion steam technology to generate power. The process is a low carbon emission, because 90% of the carbon dioxide that would have been emitted would be already captured by the feedstock being combusted.
The 18 MW biomass plant had commenced transmission of power to the grid since its synchronization on 23rd October 2010. Currently short term power tariffs range from 12-22 cents per KW/h, however all sales from December 2010-January 2011 is expected to be with PTC India Limited, as Clenergen has an existing 15 year Power Purchase Agreement with PTC India Ltd where the average tariff which is likely to be 14 cents per KW/h, with guaranteed payments each month.
At the projected 80% Plant Load Factor, Clenergen will be able to generate 345,000 KW/h per day which will fetch potential annual revenue of around US$15 million. Clenergen will seek to register the project with UNFCCC as a CDM project and thus leverage the carbon credits generated from the project to increase its top line by the sale of carbon credits.
Commenting on the development, Mark Quinn, Executive Chairman of Clenergen Corporation, said "the commencement of power transmission at our 18MW/h biomass plant right on schedule marks a huge stride towards our operational goals. It gives a big boost to the other strategic initiatives that we have taken elsewhere and moves Clenergen into being a revenue generating company."
About Clenergen Corporation
Clenergen Corporation is a publicly-traded company with its common stock quoted on the Over-the-Counter-Bulletin Board (OTCQB: CRGE)(FRANKFURT: 9CE). Clenergen offers strategic clean energy generation and supply of biomass feedstock to address the requirement for renewable and sustainable supplies of electricity. Clenergen has developed a unique modular system for gasification and localized plantation management. Clenergen also plans to provide biomass feedstock for producing wood pellets for co firing with coal to produce low emission electricity.
Clenergen Corporation intends to use proprietary and mixed biomass feedstock to implement sustainable supplies of clean energy for captive end users, islands, mining companies, government or privately owned power grid systems and other end users. The "Distributed Environmental Power System" marries significant proprietary advancements in plant science with proven long standing engineering technologies to achieve this goal. For further information on Clenergen Corporation and its products and services, go to: www.clenergen.com.
Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"). To the extent that any statements made in this press release contain information that is not historical, these statements are essentially forward-looking. Forward-looking statements can be identified by the use of words such as "expect," "plan," "will," "may," "anticipate," "believe," "should," "intend," "estimate," and variations of such words. Forward-looking statements are subject to risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, those risks and uncertainties contained in this press release and those identified in the periodic reports that the company files with the Securities and Exchange Commission (the "SEC") pursuant to the Exchange Act.
Contacts:
Clenergen Corporation
Jessica Hatfield
0044 (0)207 739 0028
0044 (0)207 657 3275 (FAX)
www.clenergen.com
Source: Marketwire (November 3, 2010 - 8:01 AM EDT)
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NorthStar Lands Exclusive Distribution Deal With Author of Controversial New Bon Jovi Book
NorthStar Lands Exclusive Distribution Deal With Author of Controversial New Bon Jovi Book
Nov. 3, 2010 (GlobeNewswire) --
HOLBROOK, N.Y., Nov. 3, 2010 (GLOBE NEWSWIRE) -- NorthStar Global Business Services, Inc. (Pink Sheets:MDIN) has announced that the company's wholly owned subsidiary, Global Media Online, Inc. has signed an exclusive, one year distribution deal with Ritchie Bozzett, Author of "Sex, Drugs, and Bon Jovi," a tell all book about his life as the former road manager for the international sensation, the rock band Bon Jovi.
The agreement grants Global the exclusive third party rights as the "online retailer" of the book. The book will be offered to the public exclusively by Global Media Online, Inc. on Amazon.com, half.com and various online retail outlets. Recently the book has appeared in The NY Post, LA Times, The Daily News and several other large newspaper publications, due to the eye opening antics of the band, its front man Jon Bon Jovi, as well as revelations about bandmate Ritchie Sambora's role in Jon Bon Jovi's marriage issues.
"Sure, it's filled with sex, drugs, and crazy antics, but the real underlying story reveals the man behind the stage, his exploits and experiences on this fantastic rise to fame and how the large record companies left him out in the cold once the band reached its success," said company CEO Raymond Barton. "The book is simply captivating, and with the growing popularity and media exposure, I expect it to be a tremendous success for Mr. Bozzett and for Global. This endeavor also creates new opportunities for Global to expand into publishing and order fulfillment along with the online retail."
Visit http://www.taabooks.com for direct purchase of "Sex, Drugs, and Bon Jovi" by Ritchie Bozzett, along with information about the book and amazing, exclusive photos. Shareholders are urged to visit our corporate site for more information about the company in the CEO's blog at http://www.northstargbs.com.
NorthStar Global Business Services, Inc. is a next generation holding company aimed at dominating several industries and diversifying its holdings through acquisitions and revenue generating subsidiaries. The company currently runs NorthStar Business and Property Brokers, Inc., a wholly owned subsidiary in the Business Brokerage industry, a Leap Frog Realty branch office and Global Media Online, Inc., a Distribution Company.
CONTACT: NorthStar Global Business Services, Inc.
Lorin R. Streim, Esq.
1-877-570-1581
Fax: 1-877-570-1581
Source: Globe Newswire (November 3, 2010 - 8:01 AM EDT)
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Ideal Financial Solutions Adds Prosper Corporation to Enhance Member Experience and Retention
Ideal Financial Solutions Adds Prosper Corporation to Enhance Member Experience and Retention
Nov. 3, 2010 (GlobeNewswire) --
LAS VEGAS, Nov. 3, 2010 (GLOBE NEWSWIRE) -- Ideal Financial Solutions, Inc. (Pink Sheets:IFSL), a creator of various financial products and services for businesses and individuals, has entered into an agreement to add guidance and curricula provided by Prosper Corporation ("Prosper") for its financial educational services. Under the agreement, Prosper would provide educational services and personalized assistance to Ideal Financial subscribers, helping them to create more positive results.
"Prosper's proven methods have helped some of the top brands in the world increase their successes and relationship with their customer base," stated Chris Sunyich, President, Ideal Financial Solutions. "The axiom that it is far more expensive to acquire a new customer than it is to keep one is perhaps best exemplified in what can be a mercurial online business world. Adding imperative and greatly valued services such as Prosper's to our already dynamic service package should increase member retention and invariably profits. We are most pleased to have found this synergy."
"We are really looking forward to working with Ideal customers by helping provide them with continued education for the management of their cash flow," said Eric Dahl, Director of New Business for Prosper Corp. "Ideal's business model and typical member is a strong fit for Prosper and we look forward to helping everyone we can."
About Prosper:
Since its inception, Prosper has served two equally important purposes: to help our partners reach farther with their brands, and to help our students realize their potential and achieve a better life. Their track record speaks for itself: Prosper has mentored more than 70,000 students in more than 70 countries, while supporting and enhancing their partners' brands. By distilling the philosophies of expert partners into structured curricula; providing one-on-one coaching; and focusing on results rather than theory, Prosper helps students develop entrepreneurial skills, get out of debt, develop added sources of revenue, and more. Prosper was founded in 1999, and since then has become the most trusted name in one-to-one personalized education. Prosper currently focuses its offerings on real estate and stock market investing, entrepreneurship, e-commerce, personal development, and personal finance.
About Ideal Financial Solutions
Based in Las Vegas, Nevada, Ideal Financial Solutions (www.idealfsi.com) provides the education, support and automated tools to create additional cash resources, rapidly eliminate all non-asset-building debt and build financial independence. As a leader in debt relief services, Ideal uses its automated CashFlow Management© tools (www.myifs.com) and its Credit to Wealth Systems to assist individuals, families and small businesses in building financial independence. To view more information on Ideal's new humanitarian program soon to be launched please visit www.idealgoodness.com. To view a short video demo of our services go to:
Qualibou Energy Inc., Appoints Auditor
Qualibou Energy Inc., Appoints Auditor
Nov. 3, 2010 (GlobeNewswire) --
HENDERSON, Nev., Nov. 3, 2010 (GLOBE NEWSWIRE) -- Qualibou Energy Inc. (Pink Sheets:QALB) today announced that it has engaged Saddler, Gibb & Associates, LLC, a Public Company Accounting Oversight Board member firm (www.pcaobus.org), to act as auditor to the company and to audit its financial statements for 2006, 2007, 2008 and 2009.
The hiring coincides with the Company's plan to return to fully reporting status with the SEC during the first quarter of 2011 and to list its shares for trading on the NASD Over-The-Counter Bulletin Board.
Stephen Baker, President & CEO of Qualibou Energy, stated "We are moving forward with our plans to implement corporate governance standards that are consistent with public companies in anticipation of becoming a fully reporting company." He continued, "Engaging Saddler, Gibb & Associates, L.L.C, a firm with significant public company auditing experience is a positive step in meeting the corporate governance standards we have set for the company."
Qualibou Energy Inc. is an emerging renewable energy company with a growth strategy emphasizing greenfield developments. The company's first geothermal concession is located on St Lucia and has a development goal of 120 Megawatts. The Company's proven and probable reserves are 170 Megawatts or 60.1 million barrels of oil equivalent (BOE).
The Qualibou Energy, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7763
'On behalf of the Board of Directors'
Stephen Baker
President & CEO
Qualibou Energy Inc.
For further information about the company, please visit our website at www.qualibou.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: Qualibou Energy, Inc
Investor Relations
(702) 990-1984
Source: Globe Newswire (November 3, 2010 - 6:15 AM EDT)
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Empire Announces Veteran Director for Ronald Reagan Themed Feature Film "Lowell Park"
Empire Announces Veteran Director for Ronald Reagan Themed Feature Film "Lowell Park"
Nov. 3, 2010 (GlobeNewswire) --
WESTLAKE VILLAGE, Calif., Nov. 3, 2010 (GLOBE NEWSWIRE) -- Empire Film Group, Inc. (Pink Sheets:EFGU) has hired veteran director and screenwriter Charles Carner to create the screenplay adaptation of the Mike Chapman novel "Lowell Park". Empire acquired the rights to the Ronald Reagan themed novel and plans to produced the feature film next summer in Reagan's hometown of Dixon, Illinois. Carner recently visited Dixon to scout locations, complete his research and meet with the author of the novel Mike Chapman.
The novel tells the story of a young woman, Jenny, who time travels back to the summer of 1932, and falls in love with a young Ronald Reagan who is spending his summers as a lifeguard at Lowell Park in Dixon, Illinois, the small town where "Dutch" Reagan grew up.
"Empire is excited to be bringing this great story to the screen. It fits nicely in our production plans for next summer and will help to commemorate the 100th anniversary of President Reagan's birth," said Dean Hamilton Bornstein, Empire Film Group CEO.
Charles Carner is a writer and director whose credits include the feature film "Witless Protection" for Lionsgate starring Larry The Cable Guy, several television movies including "Vanishing Point" starring Viggo Mortensen and "The Fixer" starring Jon Voight and the ABC Mini Series "Judas".
Empire Film Group, Inc. is a fully-integrated film and television production and distribution company with distribution capabilities to reach theatrical, video, television, video-on-demand and international markets through its wholly owned subsidiary Producers Releasing Organization. Empire Sports Group, Inc. is a wholly owned subsidiary of Empire Film Group set up to develop, acquire, produce, market and distribute sports related entertainment properties in film, television and in various multi media and digital environments.
SAFE HARBOR STATEMENT
This press release may contain certain forward-looking statements within the meaning of Sections 27A & 21E of the amended Securities and Exchange Acts of 1933-34, which are intended to be covered by the safe harbors created thereby. Although the company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, there can be no assurance that these statements included in this press release will prove accurate.
CONTACT: Empire Film Group, Inc.
Jim Townsend
818-865-1700
info@empirefilmgroup.com
www.empirefilmgroup.com
Source: Globe Newswire (November 3, 2010 - 6:00 AM EDT)
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Aldila Will Review Third Quarter 2010 Financial Results in Conference Call
Aldila Will Review Third Quarter 2010 Financial Results in Conference Call
Nov. 2, 2010 (Marketwire) --
POWAY, CA -- (Marketwire) -- 11/02/10 -- Peter Mathewson, Chairman & CEO of Aldila, Inc. (OTCQX: ALDA) (PINKSHEETS: ALDA), will be hosting a conference call and webcast relating to the Company's third quarter 2010 financial results which will be announced post market close on November 03, 2010. For telephone access to the conference call dial 800-750-4984 or 913-312-0660 for international calls and request connection to the Aldila conference call, Participant Passcode: 3647378.
What: Aldila Will Review Third Quarter 2010 Financial Results in Conference Call
When: November 03, 2010 at 5:00 P.M. Eastern Time
Where: http://www.visualwebcaster.com/event.asp?id=74241
How: Live over the Internet -- Simply log on to the web at the address above
If you are unable to participate during the live webcast, the call will be archived on Aldila's website at www.aldila.com.
Minimum Requirements to listen to broadcast: The RealPlayer software, downloadable free from www.real.com/products/player/index.html, and at least a 28.8Kbps connection to the Internet. If you experience problems listening to the broadcast, please contact Marketwire at 1-800-774-9473.
Aldila, Inc. is a leader among manufacturers of graphite golf shafts used in clubs assembled and marketed throughout the world by major golf club companies, component distributors and custom clubmakers. Aldila also manufactures composite prepreg material for its golf shaft business and external sales.
Investor/Media Contacts:
Scott M. Bier
Vice President, CFO
(858) 513-1801
Sylvia J. Castle
Investor Relations
(858) 513-1801
Source: Marketwire (November 2, 2010 - 4:15 PM EDT)
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Genesis Group Featured on ICPlaces
Genesis Group Featured on ICPlaces
Nov. 2, 2010 (GlobeNewswire) --
BOCA RATON, Fla., Nov. 2, 2010 (GLOBE NEWSWIRE) -- Genesis Group Holdings, Inc. (Pink Sheets:GGHO) and its wholly owned subsidiary, Digital Comm, Inc. (DCI), were featured on ICPlaces.com. ICPlaces.com is a website primarily known for movie reviews and other information. However, a two minute segment featured GGHO as part of a featured investment opportunity and industry overview.
The Company provides turnkey operations in outside plant construction, voice-data network technologies, utility infrastructure -- water, sewer, electric, gas, fiber/copper buried and aerial cable throughout the United States.
FORWARD-LOOKING STATEMENTS
The Private Securities Litigation Reform Act of 1995 (the "PSLRA") provides a "safe harbor" for forward-looking statements so long as those statements are identified as forward looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in such statements.
Statements contained herein that are not based on historical fact, as well as other statements including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "will," "could" and other similar expressions, constitute forward-looking statements under the PSLRA. GGHO.PK intends that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause the Company actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in the Company's annual, quarterly and other periodic public filings on record with the Securities and Exchange Commission which can be viewed free of charge on its website at http://www.sec.gov
CONTACT: Genesis Group Holdings, Inc.
Lawrence Sands, Senior Vice President
561-988-1988
Source: Globe Newswire (November 2, 2010 - 11:15 AM EDT)
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Robert Collette, Former Canadian Diplomat, Appointed to Apella's Board of Directors
Robert Collette, Former Canadian Diplomat, Appointed to Apella's Board of Directors
Nov. 2, 2010 (Marketwire) --
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/02/10 -- Apella Resources Inc. (TSX VENTURE: APA)(OTCQX: APAFF)(FRANKFURT: NWN) and its Board of Directors are pleased to announce the appointment of the Mr. Robert Collette, a distinguished Canadian diplomat to the Board of Directors of Apella Resources Inc.
"I am very pleased to join Apella's Board of Directors and to counsel management in areas such as international trade, politics and economic affairs," said Mr. Collette. "I believe Apella has significant potential for the future particularly as it relates to the environment sector. I very much look forward to contributing to the successful endeavors of the company."
Mr. Collette's distinguished 37 year career with Foreign Affairs and International Trade Canada and other federal public service sectors culminated with his most recent appointment to the Swiss Federal Council with concurrent accreditation to the Principality of Liechtenstein in 2005. In addition to his appointment as Ambassador to Switzerland some of Mr. Collette's other appointments include: Canada's Chief of Protocol; Canada's Ambassador to the Philippines; Minister (Commercial) and Deputy Head of Mission at the Canadian Embassy in Beijing, China; Deputy Director, Western Europe Trade, Investment and Technology at DFAIT; Director, Africa and Middle East Trade and Investment; Director, Investment and Science and Technology, Canada; and Personal Representative of the Prime Minister of Canada for La Francophonie.
Apella's Chairman, Patrick O'Brien, stated, "We are pleased and privileged to welcome Robert Collette to our Company's Board. We look forward to the significant benefits Robert's wealth of experience brings to our team. Robert's broad national and global experience and know-how will prove vital as we develop our extensive Vanadium, Iron and Titanium projects and prepare for the global markets."
In summary, Mr. Collette's professional career included the following highlights:
-- Seven years as Canada's Ambassador to the Philippines and Switzerland;
-- Two Years as Canada's Chief of Protocol;
-- Fourteen years as a Trade Commissioner including the following
assignments: six years in Beijing including three years as Minister
(Commercial) and Deputy Head of Mission; Director of Investment and
Science and Technology Programs at Foreign Affairs and International
Trade; Director, Trade and Investment Relations with Africa and the
Middle East; and Deputy Director, Trade, Investment and Science and
Technology Relations with Western Europe;
-- Ten years with the Canadian International Development Agency (CIDA),
including two postings in Kuala Lumpur and Yaounde;
-- 18 years of experience living and working 'on-the-ground', in developing
and developed countries (China, Malaysia, Cameroon, Philippines,
Switzerland and Italy);
-- Extensive experience as a Manager of human and financial resources.
In areas such as national and international political affairs, economic matters, business development and global trade, Mr. Collette will provide exceptional insight and guidance to our Management Team and Board of Directors.
For further information, Apella invites the public to visit its website at http://www.apellaresources.com or e-mail us at apella@apellaresources.com to be added to the Company's e-mail list for press releases and updates.
Additional information is contained on the Company's website at www.apellaresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF APELLA RESOURCES INC.
Patrick D. O'Brien, ICD.D - Director
SEC Exemption 12(g)3-2(b) File no. 82-3822, Standard & Poors Listed, Dun & Bradstreet Listed
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Apella Resources Inc.
W. Adrian Bakker
Business Development
Direct: 604-641-4474
apella@apellaresources.com
www.apellaresources.com
Source: Marketwire (November 2, 2010 - 11:03 AM EDT)
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