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Scorpex, Inc. (SRPX) Prepares to Capitalize on Mexico’s Waste Disposal Industry
The market for hazardous and industrial waste naturally increases in correlation with growth of the human population. Landfills have long been the method of waste disposal, but below the surface of the layers of dirt “hiding” our waste, reactions take place that create long-term environmental problems.
This is where Scorpex steps in. The company is executing its operational mission to own and operate a full-service waste disposal and recycling company. Its first facility will be located on a 26-acre property just outside Ensenada, Mexico, ironically less than three miles from the region’s current landfill. The property will house ten hazardous waste storage structures, with the first storage facility 80 percent complete.
Scorpex has partnered with IET of Danville, Ky., for the installation of a waste gasification plant on site. The IET solution is a thermal oxidation process that takes waste, transported by waste haulers, and drops it into an air-tight gasification cell. Once the cell is closed, the system is activated and the temperature of cell is raised to 800 degrees, without the presence oxygen. The waste is then turned into smoke, dust-free gas, and vented into secondary processor where it is mixed with room air and then ignited by pilot burners that creates hot air flow. This hot air stream can be reclaimed to create hot water and steam.
This gasification method burns off 95% of the waste’s volume, and allows for immediate processing of waste as it arrives at the plant. Even though the process is essentially emission free, IET provides their own scrubber design for all projects to give extra protection regardless of the contaminant. With so many great features, detailed in a recent press release, and full support included, it is obvious that Scorpex did their due diligence prior to selecting the required processing equipment for their operations.
SRPX Prepares to Capitalize on Mexico’s Waste Disposal Industry
The market for hazardous and industrial waste naturally increases in correlation with growth of the human population. Landfills have long been the method of waste disposal, but below the surface of the layers of dirt “hiding” our waste, reactions take place that create long-term environmental problems.
This is where Scorpex steps in. The company is executing its operational mission to own and operate a full-service waste disposal and recycling company. Its first facility will be located on a 26-acre property just outside Ensenada, Mexico, ironically less than three miles from the region’s current landfill. The property will house ten hazardous waste storage structures, with the first storage facility 80 percent complete.
Scorpex has partnered with IET of Danville, Ky., for the installation of a waste gasification plant on site. The IET solution is a thermal oxidation process that takes waste, transported by waste haulers, and drops it into an air-tight gasification cell. Once the cell is closed, the system is activated and the temperature of cell is raised to 800 degrees, without the presence oxygen. The waste is then turned into smoke, dust-free gas, and vented into secondary processor where it is mixed with room air and then ignited by pilot burners that creates hot air flow. This hot air stream can be reclaimed to create hot water and steam.
This gasification method burns off 95% of the waste’s volume, and allows for immediate processing of waste as it arrives at the plant. Even though the process is essentially emission free, IET provides their own scrubber design for all projects to give extra protection regardless of the contaminant. With so many great features, detailed in a recent press release, and full support included, it is obvious that Scorpex did their due diligence prior to selecting the required processing equipment for their operations.
Scorpex, Inc. (SRPX) Details Recently Announced $30 Million Equipment Agreement
Scorpex, Inc., an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region, today announced additional details of its recently announced major equipment contract signed with International Environmental Technologies, Inc. (“IET”) for the acquisition and installation of waste gasification/thermal oxidation equipment as well as a license to use the technology.
Scorpex has agreed to a total purchase price of USD$30,000,000. As terms of the agreement, the purchase price will be paid in four payments: USD$9,000,000 upon the release of funds from the lender; USD$9,000,000 upon IET’s delivery to Scorpex of a certification that the shop drawings and other engineering work for the installation of the Equipment has been completed; USD$9,000,000 upon IET’s delivery to Scorpex of a certification that the erection of the steel framework for all two units has been completed; and USD$3,000,000 upon the final check out, testing of the unit and commissioning.
IET will install the equipment, train supervisory personnel to operate and maintain the equipment, provide a set of spare parts and issue certificates of completion. In addition, IET will provide a warranty for the equipment installed, ensuring that the equipment will be free from defects in materials and workmanship. If malfunction is reported within the warranty period, IET will repair or replace the defective or non-conforming part at no charge to Scorpex.
As stated in yesterday’s press release, IET’s proprietary technology can process waste simultaneously without presorting. The system is virtually silent and without odors, capable of reducing waste volume 95%. The system also features a lower capital investment than competition as well as lower operating costs. With an average construction time of only six to twelve months, Scorpex said it anticipates commencing full operations before the previously projected time frame.
Chief Executive Officer Joseph Caywood commented, “As I said previously, we have made remarkable progress and are very excited to be moving forward so quickly with our business strategy. Signing such a major equipment contract at the dawn of establishing our first waste disposal and processing plant is yet another strong vote of confidence by others who have chosen to join our initiative to address Mexico’s growing demand for industrial, hazardous and toxic waste management.”
First Quarter 2011 Results Reported by Mastech Holdings Inc. (MHH)
Pittsburgh-based Mastech Holdings Inc. is a nationwide provider of information technology and specialized healthcare staffing services to hospitals and other healthcare facilities. The company announced its financial results for the first quarter ended March 31, 2011.
Revenues for the period came in at $19.9 million and represented a 27 percent increase over the corresponding quarter of 2010. Gross profit for the first quarter of 2011 totaled $3.8 million or approximately $800,000 above the gross profit for the first quarter of last year. Consolidated net income for the first quarter of 2011 totaled $37,000 or $0.01 per diluted share versus last year’s figure of $63,000 or $0.02 per diluted share.
Demand for Mastech’s IT staffing services remained solid in the first quarter as the company increased its billable consultant headcount by 3.5 percent and established IT branch operations in Chicago. According to Mastech, market conditions in the healthcare industry continue to show signs of improvement. It was this improvement which led to the company achieving sequential revenue growth for the third consecutive quarter.
Mastech’s balance sheet remains strong with $4.8 million of cash on hand and no outstanding bank debt. The company also has access to $8.7 million of credit under its existing revolving credit facility. For additional information on Mastech Holdings, please visit its website at www.mastech.com.
SRPX Details Recently Announced $30 Million Equipment Agreement
Scorpex, Inc., an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region, today announced additional details of its recently announced major equipment contract signed with International Environmental Technologies, Inc. (“IET”) for the acquisition and installation of waste gasification/thermal oxidation equipment as well as a license to use the technology.
Scorpex has agreed to a total purchase price of USD$30,000,000. As terms of the agreement, the purchase price will be paid in four payments: USD$9,000,000 upon the release of funds from the lender; USD$9,000,000 upon IET’s delivery to Scorpex of a certification that the shop drawings and other engineering work for the installation of the Equipment has been completed; USD$9,000,000 upon IET’s delivery to Scorpex of a certification that the erection of the steel framework for all two units has been completed; and USD$3,000,000 upon the final check out, testing of the unit and commissioning.
IET will install the equipment, train supervisory personnel to operate and maintain the equipment, provide a set of spare parts and issue certificates of completion. In addition, IET will provide a warranty for the equipment installed, ensuring that the equipment will be free from defects in materials and workmanship. If malfunction is reported within the warranty period, IET will repair or replace the defective or non-conforming part at no charge to Scorpex.
As stated in yesterday’s press release, IET’s proprietary technology can process waste simultaneously without presorting. The system is virtually silent and without odors, capable of reducing waste volume 95%. The system also features a lower capital investment than competition as well as lower operating costs. With an average construction time of only six to twelve months, Scorpex said it anticipates commencing full operations before the previously projected time frame.
Chief Executive Officer Joseph Caywood commented, “As I said previously, we have made remarkable progress and are very excited to be moving forward so quickly with our business strategy. Signing such a major equipment contract at the dawn of establishing our first waste disposal and processing plant is yet another strong vote of confidence by others who have chosen to join our initiative to address Mexico’s growing demand for industrial, hazardous and toxic waste management.”
Scorpex, Inc. (SRPX) Details Recently Announced $30 Million Equipment Agreement
Scorpex, Inc., an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region, today announced additional details of its recently announced major equipment contract signed with International Environmental Technologies, Inc. (“IET”) for the acquisition and installation of waste gasification/thermal oxidation equipment as well as a license to use the technology.
Scorpex has agreed to a total purchase price of USD$30,000,000. As terms of the agreement, the purchase price will be paid in four payments: USD$9,000,000 upon the release of funds from the lender; USD$9,000,000 upon IET’s delivery to Scorpex of a certification that the shop drawings and other engineering work for the installation of the Equipment has been completed; USD$9,000,000 upon IET’s delivery to Scorpex of a certification that the erection of the steel framework for all two units has been completed; and USD$3,000,000 upon the final check out, testing of the unit and commissioning.
IET will install the equipment, train supervisory personnel to operate and maintain the equipment, provide a set of spare parts and issue certificates of completion. In addition, IET will provide a warranty for the equipment installed, ensuring that the equipment will be free from defects in materials and workmanship. If malfunction is reported within the warranty period, IET will repair or replace the defective or non-conforming part at no charge to Scorpex.
As stated in yesterday’s press release, IET’s proprietary technology can process waste simultaneously without presorting. The system is virtually silent and without odors, capable of reducing waste volume 95%. The system also features a lower capital investment than competition as well as lower operating costs. With an average construction time of only six to twelve months, Scorpex said it anticipates commencing full operations before the previously projected time frame.
Chief Executive Officer Joseph Caywood commented, “As I said previously, we have made remarkable progress and are very excited to be moving forward so quickly with our business strategy. Signing such a major equipment contract at the dawn of establishing our first waste disposal and processing plant is yet another strong vote of confidence by others who have chosen to join our initiative to address Mexico’s growing demand for industrial, hazardous and toxic waste management.”
Scorpex is not selling the equipment, they are the purchaser
At this time we cannot comment on the financing, but would suggest watching for future updates from the company
Trius Therapeutics, Inc. (TSRX) Receives $25 Million Upfront from Bayer Healthcare for Collaboration on Antibiotic to Fight Bacterial Infectious Diseases in Emerging Markets
Trius Therapeutics, Inc., a biopharmaceutical company focused on the discovery, development and commercialization of innovative antibiotics for life-threatening infections, today announced that Bayer Healthcare will pay $25 million upfront as well as 25 percent of future development costs to develop and commercialize Trius’s lead Phase 3 antibiotic, torezolid phosphate (torezolid). In addition, Trius is eligible to receive up to $69 million upon the achievement of certain development, regulatory and commercial milestones and will receive double-digit royalties on net sales of torezolid in the licensed territory.
The two companies aim to get global approval for torezolid as the drug of choice to combat acute bacterial skin and skin structure infections (ABSSSI) and pneumonia. Bayer will get the opportunity to sell the antibiotic in all countries in Asia including China and Japan, Africa, Latin America and the Middle East, but excluding North and South Korea. Trius will maintain full development and commercialization rights for the product outside those areas including the United States, Canada and the European Union.
“Bayer’s commitment to the infectious disease area and their depth and breadth of experience in these markets makes them an ideal partner for Trius,” Jeffrey Stein, Ph.D., President and CEO of Trius stated in today’s press release. “At the same time, consistent with our strategy, we have retained rights to the U.S. and E.U. markets where life-threatening infections from MRSA and other gram positive pathogens continue to be a significant concern.”
The antibiotic , torezolid phosphate, is an IV and orally administered second generation oxazolidinone in Phase 3 clinical development for the treatment of ABSSSI, the first such trial to be initiated under a Special Protocol Assessment (SPA). Trius holds an exclusive license to torezolid phosphate for territories outside of North and South Korea from Dong-A Pharmaceuticals. In addition to the company’s torezolid phosphate clinical program, it is currently conducting three preclinical programs using its proprietary discovery platform to develop antibiotics to treat infections caused by gram-negative bacteria.
“Bacterial infectious diseases represent one of the largest therapeutic areas in China and continue to grow rapidly there and in other emerging markets. This collaboration is a key element in our strategy of bringing innovative medicines to patients, especially in emerging markets,” Dr. Jorg Reinhardt, Chairman of the Board of Management of Bayer HealthCare, said in the press release.
The Bayer Group is a global enterprise with core competencies in the fields of health care, nutrition and high-tech materials. Bayer HealthCare, a subgroup of Bayer AG, is one of the world’s leading, innovative companies in the healthcare and medical products industry. Bayer HealthCare’s aim is to discover and manufacture products that will improve human and animal health worldwide.
Scorpex, Inc. (SRPX) Announces Multi-Million Dollar Equipment Contract
Today after the closing bell, Scorpex, Inc., an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region, announced it has entered into a major agreement with International Environmental Technologies, Inc. (“IET”) for the acquisition and installation of waste gasification/thermal oxidation equipment as well as a license to use the technology.
IET’s patented technology is capable of processing municipal waste, medical waste and hazardous waste simultaneously without presorting for maximum efficiency. The oxygen starved system virtually eliminates noise and noxious odors when operating while reducing waste volume by 95%. The design of the system also reduces breeding sites for scavengers, rodents, insects and disease that are sometimes found in other processes.
Commenting on the agreement, CEO Joseph Caywood stated, “Following our evaluation of various waste processing techniques and technologies, we found the solution offered by IET to be superior to those offered by competitors. Securing this technology was a crucial part of our business plan. We will provide additional details very soon.”
Scorpex, Inc. (SRPX) Announces Multi-Million Dollar Equipment Contract
Today after the closing bell, Scorpex, Inc., an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region, announced it has entered into a major agreement with International Environmental Technologies, Inc. (“IET”) for the acquisition and installation of waste gasification/thermal oxidation equipment as well as a license to use the technology.
IET’s patented technology is capable of processing municipal waste, medical waste and hazardous waste simultaneously without presorting for maximum efficiency. The oxygen starved system virtually eliminates noise and noxious odors when operating while reducing waste volume by 95%. The design of the system also reduces breeding sites for scavengers, rodents, insects and disease that are sometimes found in other processes.
Commenting on the agreement, CEO Joseph Caywood stated, “Following our evaluation of various waste processing techniques and technologies, we found the solution offered by IET to be superior to those offered by competitors. Securing this technology was a crucial part of our business plan. We will provide additional details very soon.”
SRPX Announces Multi-Million Dollar Equipment Contract
Today after the closing bell, Scorpex, Inc., an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region, announced it has entered into a major agreement with International Environmental Technologies, Inc. (“IET”) for the acquisition and installation of waste gasification/thermal oxidation equipment as well as a license to use the technology.
IET’s patented technology is capable of processing municipal waste, medical waste and hazardous waste simultaneously without presorting for maximum efficiency. The oxygen starved system virtually eliminates noise and noxious odors when operating while reducing waste volume by 95%. The design of the system also reduces breeding sites for scavengers, rodents, insects and disease that are sometimes found in other processes.
Commenting on the agreement, CEO Joseph Caywood stated, “Following our evaluation of various waste processing techniques and technologies, we found the solution offered by IET to be superior to those offered by competitors. Securing this technology was a crucial part of our business plan. We will provide additional details very soon.”
Unilife Corp.’s (UNIS) Unifill Syringe Wows Healthcare Workers
Recently, Unilife Corp. took its Unifill® prefilled safety syringe to the APIC Conference in order to give the U.S. healthcare workers in attendance a sneak preview of this revolutionary device. Unilife was honored to have Dr. Mary Foley as its special guest at APIC. During the conference, Dr. Foley met with dozens of delegates from around the U.S., collecting their thoughts on the Unifill syringe and its potential benefits to healthcare workers and patients.
The feedback Unifill received at APIC was overwhelmingly positive, and included more than just a few ‘Wow!’, ‘Very Smooth’, ‘Awesome’, ‘Perfect’ and ‘Cool’ reactions. Unilife set up a demonstration booth and recorded many of the healthcare professionals’ reactions when they got to test the Unifill product themselves. To view a brief compellation of these responses, visit www.unilife.com
The APIC Conference brought together healthcare workers and infection control specialists from across the U.S to discuss ways to enhance and save the lives of nurses, improve patient care and prevent disease. Unilife exhibited the Unifill syringe, the world’s first and only prefilled syringe with fully passive (automatic) safety features integrated within the glass barrel, at the event. The Unifill syringe is strongly positioned to deliver optimal protection and intuitive use to healthcare workers and their patients that self-inject prescription medication at home. The Unifill syringe is now in production, and being supplied to interested pharmaceutical and biotechnology companies seeking to evaluate its use with their injectable drugs and vaccines.
Dr. Foley is one of the world’s foremost experts on healthcare worker safety. She is the Director at the Center for Nursing Research and Innovation at the University of California San Francisco (UCSF) School of Nursing. Last year, she received her PhD in nursing with her dissertation on the topic of needle-stick injuries and prevention policies. A registered nurse for more than 35 years, Dr. Foley was one of the first healthcare workers to recognize the emerging HIV-AIDS epidemic during her work at Saint Francis Memorial Hospital in San Francisco in the 1980s. After helping to secure the passage of the first Statewide laws in the U.S. mandating the use of safety medical devices in California, she played a key role in campaigning for the adoption of the Federal Needlestick Safety and Prevention Act.
Elected President of the American Nursing Association (ANA) in 2000, Dr. Foley was in the Oval Office of the White House when President Bill Clinton enacted the Act into law. She continues to write and lecture about healthcare policy, improving the workplace, and promoting safe care for workers and patients nationally and internationally. Dr. Foley has not received any financial payment from Unilife, and is an independent champion for enhancing injection safety practices in the U.S. and worldwide.
iPass, Inc. (IPAS) Expands Wi-Fi Reach in India via Spectranet Partnership
iPass, Inc., a company managing mobile connectivity for large enterprises and global service providers using mobility and cloud services, announced its expansion of Wi-Fi hotspot coverage in 10 Indian cities, including Mumbai, Delhi, Bangalore, Kolkata, Chennai, Hyderabad and throughout Delhi’s Indira Gandhi International Airport. The move comes through iPass’ partnership with Spectranet, an 11-year-old Indian pioneer broadband provider.
iPass network services VP Marcio Avillez noted, “Thanks to our Spectranet partnership, iPass has extended our Wi-Fi network within strategic locations in India. Indira Gandhi International Airport is the eighth largest airport in the world with over 25 million passengers traveling each year enabling many iPass users to connect to a stable and secure network there and throughout the country.”
Spectranet owns its own fiber-optic network and the deal fits nicely with iPass needs. Spectranet marketing and product development chief Sunando Bhattachary commented, “In India, the last-mile is the biggest challenge in getting a quality connection, which is why [we] invested heavily in our own fiber-optic network.”
IPass’ Open Mobile platform is a cloud-based service delivery system. It allows companies to enable their employees to make seamless connections through laptops, smart phones, or tablets to the iPass Mobile Network, which iPass says is “the world’s largest authenticated Wi-Fi network”, at the same time enabling IT departments to have complete visibility, as well as control of network usage, security and costs wherever their employees travel.
According to its website, the 15-year-old iPass has “thousands of enterprise customers,” and also offers Wi-Fi exchange services robust enough to support both the business and mass market requirements of service providers. The basis of its system is “combining a ‘zero-click’ mobile IP data offload solution with an integrated global Wi-Fi footprint for data roaming, simplifying user connectivity when traversing 3G or 4G networks and Wi-Fi.” This, says iPass, makes Wi-Fi access as easy to use as cellular and works like 3G data roaming, providing seamless authentication to preferred networks to create an “always on”, frictionless user experience.
The benefit of this arrangement to global service providers is to increase network infrastructure in a cost-effective manner using Wi-Fi by offloading mobile IP data traffic to multiple Wi-Fi networks, thereby reducing service delivery costs without requiring additional capital investment. Another benefit to providers is that iPass enables them to increase their market size by accessing an expanding Wi-Fi enabled device market.
Aastrom Biosciences Inc. (ASTM), FDA Reach Protocol Agreement for Phase 3 Clinical Trial of Multicellular Therapy
Aastrom Biosciences Inc., leading developer of patient-specific, expanded multicellular therapies for the treatment of severe, chronic cardiovascular diseases, has reached an agreement with the U.S. Food and Drug Administration (FDA) regarding the Special Protocol Assessment (SPA) for the design of the company’s phase 3 REVIVE-CLI clinical trial of ixmyelocel-T.
Ixmyelocel-T is the company’s expanded multicellular therapy, designed to treat patients with critical limb ischemia (CLI) who have no other treatment options. CLI leads to more than 160,000 limb amputations each year in the United States, making it the most severe form of peripheral artery disease. CLI is also fatal; approximately 25 percent of patients diagnosed with CLI will die within the 12 months of diagnosis, while fewer than 25 percent of patients survive more than four years following diagnosis.
Aastrom’s will enroll up to 594 no-option patients at approximately 80 clinical sites across the U.S. This phase 3 clinical trial will be a randomized, double-blind, placebo-controlled study that will include only CLI patients with existing tissue loss, such as ulcerations and gangrene.
“We greatly appreciate the guidance and support of the FDA staff, our phase 2 investigators and our phase 3 steering committee who have helped us reach final agreement on the SPA, a critical component to advancing ixmyelocel-T into phase 3 clinical testing,” Tim Mayleben, president and CEO of Aastrom stated in the press release.
Mayleben said the SPA confirms the company’s confidence that the design of the phase 3 trial, also supported by positive results from the previously conducted RESTORE-CLI phase 2b trial, which was the largest fully controlled cell-therapy study ever conducted in CLI, in patients who received treatment with ixmyelocel-T.
The therapy demonstrated a favorable safety profile and clinically meaningful and statistically significant benefit in time to treatment failure events. Aastrom will present the data for the phase 2b trial at a major medical meeting in November.
For more information visit www.aastrom.com
Juhl Wind Inc. (JUHL) Signs Agreement with Zinc Air to Install Environmentally Sound and Highly Flexible 1MW Storage Solution as Pilot for Future Roll Outs
Juhl Wind, a bold and established leader in developing community based wind power projects in the US/Canada, reported today signing of a letter of intent with Montana-based sustainable/smart grid-ready energy storage solutions developer Zinc Air, Inc., for the installation of an advanced 1MW storage system at the JUHL’s Woodstock Hills wind farm.
This powerful new storage system will be put to work at the Woodstock Hills wind farm near the Company’s HQ in Woodstock, Minnesota, where projections of the Zinc Air system’s optimal balance of environmental soundness and advanced technology will be thoroughly evaluated. The Zinc Air battery chemistry lowers cost by using locally abundant non-hazardous materials, resulting in a safer, simpler and more efficient solution.
Chairman and CEO of JUHL, Dan Juhl, cited the core, proprietary Zinc Redox flow battery technology utilized in the new storage system, for which the Zinc Air is widely known, as being a triumph of green engineering. The solution is also extremely competitive, engineered from the start to realize rapid payback periods, enabling the wind farm to store/shift wind power for maximized performance.
The integration of this storage solution with JUHL’s infrastructure at Woodstock Hill, which the Company acquired just this spring, achieves a target set at the time of acquisition for marrying the farm to what is now JUHL’s first utility-scale, storage system. A model that can be propagated via future projects and through the Company’s wind farmer partners.
This combined architecture is smart grid-ready and extremely flexible, making it perfect for utility operators looking to roll out wind power resource generators and dovetails nicely with JUHL’s overall operational profile. It is no stretch to say that the success of this initial project could set the stage for efflorescence and blooming of wind power in general, both throughout the Company’s primary target markets and beyond.
President of JUHL, John Mitola, underscored the significance of “competitive, reliable storage”, both for wind power entities and the entire utility grid. Pointing to ongoing due diligence with regard to additional wind farm acquisitions by JUHL, Mitola explained that the capacity to “bolt on” a dynamic/comprehensive and highly adaptable storage solution, means the Company can use the acquisition/upgrading loop as a massive growth vector.
President and CEO of Zinc Air, Dave Wilkins, was clearly excited to have Zinc Air so prominently established in the market by a major player like JUHL and affirmed Zinc Air’s intent to focus on wind and other renewable market’s for the storage technology.
Dan Juhl is confident that if the Company can effectively demonstrate the capacity to build a combination wind farm/storage solution for the cost of a new coal plant, JUHL and wind can stand toe-to-toe with competitors in the wholesale energy market.
A deployable comprehensive wind farm model is the goal, and the first phase of the new project at Woodstock Hill will try to secure a revenue arrangement from a utility buyer, while showcasing the Zinc Air battery technology.
For more information on Juhl Wind Inc. and today’s agreement, please visit the Company’s website at: www.juhlwind.com
Scorpex, Inc. (SRPX) Announces Additions to Board of Directors and Executive Team
Scorpex, Inc., an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region, announced the appointment of Kenneth I. Denos to its Board of Directors, and Chene Gardner as interim Chief Financial Officer who will also serve on the Board of Directors. Furthermore, both individuals will be part of the audit committee, sharing in the responsibility of overseeing the audit preparation.
Kenneth Denos brings with him extensive top management experience as he has served as the Chief Executive Officer of numerous successful companies, both public and private, including Equus Total Return, Inc., SportsNuts, Inc., MCC Global N.V., and Moore, Clayton Capital Advisors, Inc. He has also served on the Board of Directors for Secure Netwerks, Inc., Healthcare Enterprise Group PLC and Tersus Energy PLC. Currently, Mr. Denos serves as Deputy Chairman of the Board of London Pacific & Partners, Inc., in addition to working in other endeavors. He earned a Bachelor of Science degree in Business Finance and Political Science, a Master of Business Administration Degree, and a Juris Doctor from the University of Utah.
Chene Gardner is currently serves Alto Group Holdings, Inc., a filer of reports pursuant to requirements of the Securities Exchange Act of 1934, as Chief Financial Officer. He is also an executive officer and director of Nano Dimensions, Inc. and an executive officer and director of Secure Netwerks, Inc. Mr. Gardner previously served Fuelstream, Inc. as the Financial Controller and has auditing and accounting experience with the firm Deloitte & Touche LLP, serving clients in the banking, manufacturing, and retail industries. Mr. Gardner holds Bachelor and Master of Accounting degrees from Weber State University.
Joseph Caywood, Chief Executive Officer, commented, “We are committed to strong corporate governance and believe these additions will further our efforts in this regard. With plans to continue adding proven leadership and executive talent to our board and executive team, Scorpex will continue to keep shareholders updated on further additions and other corporate developments.”
Acme United (ACU) grows Q2 U.S., Canada Sales – European Sales Slip
Acme United Corp., a global supplier of cutting, measuring and safety products to the school, home, office, hardware and industrial markets, today posted its second-quarter results for the three months ended June 30, 2011.
The company reported net sales for the quarter at $24.0 million, up 17 percent compared to $20.6 million in the comparable quarter of 2010.
Second-quarter net income was $1.7 million, or $.56 per diluted share, compared to $1.5 million, or $.48 per diluted share, for the comparable period last year, an increase of 11 percent in net income and 17 percent in diluted earnings per share.
Gross margins were 36.1 percent in the second quarter of 2011 compared to 36.7 percent in the comparable quarter of last year.
Operating profit for the second quarter increased 26 percent to $2.4 million compared to $1.9 million for the comparable period last year.
For the six-month period ended June 30, 2011, the company reported net sales for of $38.4 million, up 14 percent compared to $33.7 million in the same period in 2010.
Net income for the first half of 2011 was $1.8 million, or $0.60 per diluted share, compared to $1.7 million, or $.54 per diluted share, in the comparable period last year, representing a 5 percent increase in net income and 10 percent increase in diluted earnings per share.
Gross margins were 36.4 percent for the six-month period compared to 37.6 percent for the comparable period last year.
Operating profit was $2.6 million for the first half of 2011 increased 18 percent compared to $2.2 million for the comparable six months of last year.
The company reported a 22 percent increase in U.S. net sales for the second quarter; net sales in Canada increased 15 percent; while European net sales decreased 20 percent.
For more information visit http://www.acmeunited.com
Rare Element Resources, Ltd. (REE) Video Chart for Friday, July 22, 2011
REE has shown a lot of volatility over the last year and seems to be setting up for a bullish reversal now, after a month or so of consolidation.
I’d like to see more volume help drive the PPS through the $11.00 resistance to kick off a new uptrend.
To view the video chart, visit the following link: http://www.qualitystocks.net/videocharts
Quepasa Corp. (QPSA) to Merge with myYearbook with Intention to become Public Market Leader
Social media technology company Quepasa Corp., owner of Quepasa Games and Latino social network Quepasa.com, today announced its merger with Insider Guides Inc., DBA myYearbook, for $100 million.
myYearbook is an online venue accessible on the Web or mobile device. Quepasa CEO John Abbott detailed the contributions myYearbook brings to the table, and the company’s expectations for future advances.
“With this merger, we intend to create nothing less than the public market leader in social discovery,” Abbott stated in the press release. “Combination with myYearbook nearly doubles the size of Quepasa’s existing user base while positioning the new company for significantly
higher growth in mobile and social games, advertising, and virtual currency. … We expect the scale of this combination to enable a new class of investor in Quepasa. We believe myYearbook’s proven track record in monetization and engagement will fuel significant future growth.”
In 2010, myYearbook generated $23.7 million in revenue, up 53 percent year-over-year, and a 315 percent increase in EBITDA at $4.9 million.
Geoff Cook, CEO of myYearbook, noted the Internet’s global appeal and how the companies will integrate their resources to maximize their online reach.
“Meeting new people is now — and has always been — one of the Internet’s core activities. This combination creates the scale needed to build the No. 1 player in social discovery. What excites me most about this opportunity is applying myYearbook’s platform for monetization and engagement to Quepasa’s fast-growing markets while also doubling the size of our development team to execute against an aggressive product pipeline focused on social, mobile, and virtual currency,” Cook stated.
The combined company anticipates consolidated TTM revenues and EBITDA of $33.6 million and $5.9 million, respectively, as of the 12 months ended March 31, 2011.
For more information visit www.Quepasa.com or www.myyearbook.com
Scorpex, Inc. (SRPX) Praises US-Mexico Trucking Agreement
Scorpex, Inc., an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region, today applauded the recent US-Mexican agreement allowing each country’s trucks to traverse the other’s highways. The agreement ends nearly two decades of quarreling between the two countries over a key provision of the 1994 NAFTA agreement.
As a result of the agreement, the high tariffs imposed by Mexico on dozens of U.S. products will be suspended when full cross-border traffic begins. Allowing long-haul trucking between the U.S. and Mexico is anticipated to create additional jobs and greater opportunity for both nations. The U.S. agriculture sector alone was negatively affected by these tariffs by an estimated $153 billion.
Chief Executive Officer Joseph Caywood commented, “I believe the lifting of these restrictions and tariffs carries significant weight for Scorpex. Not only does this agreement give Scorpex access to cross-border travel as necessary, it potentially feeds increased export, manufacturing and distribution in Mexico, subsequently driving the need for increased disposal of industrial waste.”
With its first facility located near Ensenada, Mexico, 85 miles from the U.S. border, Scorpex anticipates processing 800 tons of waste per day once equipment is installed and the facility is fully operational. The demand for waste disposal in the Baja area is already much higher than that, ensuring steady demand and abundant prospects for future growth.
Entegris Inc. (ENTG) Posts Solid Q2 Results Despite Softening Semiconductor Industry
Entegris Inc., a provider of a range of products for the semiconductor and high-tech industries, today reported its financial results for the second quarter ended July 2, 2011.
Second-quarter sales of $209.2 million represent an increase of 25 percent over the prior year. Net income was $32.5 million, or $0.24 per diluted share.
On an operating basis, Entegris reported an adjusted operating margin of nearly 21 percent of sales, marking a record high for the company, which it attributes in part to improved gross margin.
The company generated record cash from operations of $52 million, and ended the second quarter with cash and short-term investments of $191 million.
For the first half of fiscal 2011, sales increased 26 percent to $412.3 million compared to the first half of 2010.
Gideon Argov, president and CEO of Entegris, noted strong sales of specific products and said voiced his confidence that the company will overcome slack in the semiconductor industry.
“We continue to execute well, achieving a record quarter for sales, profits and cash flow. Sales of our unit-driven products including wafer shippers and liquid filters grew 6 percent sequentially,” Argov stated in the press release. “Despite signs of softening in the semiconductor industry, we are very encouraged by the long-term prospects for our new contamination control, substrate handling, and specialty materials solutions for next-generation manufacturing processes. In addition, we are confident that our operating model positions us to deliver attractive operating performance throughout the cycle.”
For the fiscal third quarter ending September 3, 2011, Entegris said it expects sales to range from approximately $180 million to $190 million.
For more information visit www.entegris.com
Scorpex, Inc. (SRPX) Praises US-Mexico Trucking Agreement
Scorpex, Inc., an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region, today applauded the recent US-Mexican agreement allowing each country's trucks to traverse the other's highways. The agreement ends nearly two decades of quarreling between the two countries over a key provision of the 1994 NAFTA agreement.
As a result of the agreement, the high tariffs imposed by Mexico on dozens of U.S. products will be suspended when full cross-border traffic begins. Allowing long-haul trucking between the U.S. and Mexico is anticipated to create additional jobs and greater opportunity for both nations. The U.S. agriculture sector alone was negatively affected by these tariffs by an estimated $153 billion.
Chief Executive Officer Joseph Caywood commented, "I believe the lifting of these restrictions and tariffs carries significant weight for Scorpex. Not only does this agreement give Scorpex access to cross-border travel as necessary, it potentially feeds increased export, manufacturing and distribution in Mexico, subsequently driving the need for increased disposal of industrial waste."
With its first facility located near Ensenada, Mexico, 85 miles from the U.S. border, Scorpex anticipates processing 800 tons of waste per day once equipment is installed and the facility is fully operational. The demand for waste disposal in the Baja area is already much higher than that, ensuring steady demand and abundant prospects for future growth.
SRPX Praises US-Mexico Trucking Agreement
Scorpex, Inc., an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region, today applauded the recent US-Mexican agreement allowing each country's trucks to traverse the other's highways. The agreement ends nearly two decades of quarreling between the two countries over a key provision of the 1994 NAFTA agreement.
As a result of the agreement, the high tariffs imposed by Mexico on dozens of U.S. products will be suspended when full cross-border traffic begins. Allowing long-haul trucking between the U.S. and Mexico is anticipated to create additional jobs and greater opportunity for both nations. The U.S. agriculture sector alone was negatively affected by these tariffs by an estimated $153 billion.
Chief Executive Officer Joseph Caywood commented, "I believe the lifting of these restrictions and tariffs carries significant weight for Scorpex. Not only does this agreement give Scorpex access to cross-border travel as necessary, it potentially feeds increased export, manufacturing and distribution in Mexico, subsequently driving the need for increased disposal of industrial waste."
With its first facility located near Ensenada, Mexico, 85 miles from the U.S. border, Scorpex anticipates processing 800 tons of waste per day once equipment is installed and the facility is fully operational. The demand for waste disposal in the Baja area is already much higher than that, ensuring steady demand and abundant prospects for future growth.
AMAG Pharmaceuticals, Inc. (AMAG) to Merge with Allos Therapeutics, Resulting Combination Projects Some $60M in Annual Cost Savings
AMAG Pharmaceuticals, well known as the biopharmaceutical company behind the FERAHEME® injection for treating iron deficiency anemia in adult chronic kidney disease and Allos Therapeutics, developers of a revolutionary indication for relapsed or refractory peripheral T-cell lymphoma (PTCL), called FOLOTYN®, announced entry into a definitive merger agreement today.
An all-stock merger with total equity value of roughly $686M will not only drive home a projected $55-60M in annual cost savings synergies (a majority of which should be realized within the first fiscal year after closing the deal), but result in a powerhouse company that will be able to punch significantly above its fighting weight.
Terms of the deal, which has been approved by both company boards, will see Allos stockholders gaining 0.1282 shares of AMAG common stock for each share of Allos stock owned and will result in a balance of 61% ownership by AMAG stockholders, with Allos stockholders retaining 39% of the combined company.
The new board of directors will be a fusion of five members nominated by the AMAG board and four nominated by the Allos board, with President, MD and CEO of AMAG, Brian Pereira, retaining his positions and Paul Berns, President and CEO of Allos, serving on the board.
The Company will achieve numerous benefits as a result of the merger, ranging from enhanced brand presence due to product overlap in the target markets, to an extremely healthy combined cash position ($373.7M as of June 30). With a massive non-dialysis IV iron market in the US alone estimated to be serving some 1.6M Americans, worth some $400M, with only a tiny fraction of the market actually being treated, there is strong future for FERAHEME (FDA approval in June 2009). A similar size market is estimated for FOLOTYN (FDA accelerated approval, Sept. 2009 for single agent treatment in relapsed or refractory PTCL) and ongoing negotiations outside the US with various industry leaders are progressing for both products.
Pereira was clearly pleased with the merger and telegraphed the global potential of the resulting presence, pointing to collaborations that should get both products into multiple key global markets like China and the EU. Pereira confirmed that the resulting company would continue to innovate down the biopharmaceutical vector and benefit nicely in doing so, thanks to a stronger balance sheet and the kind of resources to make portfolio growth via “in-licensing or acquisition” of new products a snap.
For more information on the deal or on AMAG Pharmaceuticals, Inc., please visit the Company’s website at: www.amagpharma.com
For more information on FERAHEME: www.FERAHEME.com
For more information on FOLOTYN: www.FOLOTYN.com
International Stem Cell (ISCO) Initiates Series of Clinical Studies of Human-derived Stem Cells
International Stem Cell Corp. today announced it has launched a series of preclinical animal studies of neuronal cells derived from ISCO’s proprietary pluripotent stem cells from unfertilized eggs, with a long-term endpoint of creating a regenerative therapy for Parkinson’s disease (PD).
PD is a disease afflicting the central nervous system, with some symptoms stemming from the loss of dopaminergic neurons in the mid brain.
ISCO’s approach to develop cell-based therapy for the treatment of PD is first to derive neuronal cells successfully from human parthenogenetic stem cells (hpSC). The next step is to evaluate the in vivo safety, functionality and efficacy of hpSCs.
“The ability of neuronal cells to become a specific type of neuron is one of the most important properties that these cells must have to be used in cell-based therapy of neurological disorders. These studies will bring us one step closer to our goal of being able to treat PD,” Dr. Andrey Semechkin, CEO of ISCO stated in the press release.
ISCO uses unfertilized oocytes (eggs) to create hpSC, a method that boasts several advantages over other types of human stem cells. Like human embryonic stem cells (hESCs), hpSCs are pluripotent, which means they carry the ability to become almost any cell type in the body.
Where hpSCs differ from hESCs is in their ability to become a cell form that can be immunologically matched to millions of individuals, creating deeper potential for regenerative therapy.
For more information visit www.internationalstemcell.com
BIO-Key International, Inc. (BKYI) Announces Successful Deployment by Summa Health System for Fingerprint Biometrics
BIO-Key International, Inc., a company that engages in the development and marketing of fingerprint biometric technology and software solutions in the United States, recently announced the successful deployment by Summa Health System for BIO-Key’s fingerprint biometrics for compliance with strong authentication, as is required by the Ohio State Board of Pharmacy.
Summa Health System is one of the biggest integrated healthcare delivery systems in the state of Ohio and surrounds a network of community based health centers and hospitals, a health plan, an entrepreneurial entity, a physician hospital organization, medical education and research, and numerous foundations. Summa is nationally known for its excellence in care of patients and for its outstanding approaches to healthcare delivery and represents 2,000+ licensed, inpatient beds on numerous hospital campuses.
“Our mission is to provide the highest-quality, compassionate care to our patients and to contribute to a healthier community,” said Charles Ross, M.D., chief medical information officer at Summa Health System. “Upgrading from our older L-1/Identix fingerprint identification system to BIO-key’s solution was fast and easy because we were able to utilize all of the existing Identix biometric fingerprint readers that our staff was already trained and comfortable in using. Also, not having to replace our existing fingerprint readers represented a significant savings to our organization,” added Ross.
“BIO-key’s solution provides Summa with greater flexibility since we offer complete reader interoperability and as their system evolves and grows, Summa can add fingerprint readers from any of the major fingerprint reader manufacturers that can be used interchangeably with each other and their existing L1-Identix readers,” commented Mike DePasquale, CEO of BIO-key International. “Our biometric fingerprint identification complies with the Ohio Pharmacy Board two-factor authentication requirements.”
For more information on BIO-Key International, visit www.bio-key.com
Synergy Resources (SYRG) Posts Record Revenues Boosted by Increased Oil & Gas Production
Synergy Resources Corp., a domestic oil and gas exploration and production company, today reported third-quarter results for the three months ended May 31, 2011, reflecting an increase in net oil and natural gas production for the quarter compared to the third quarter 2010.
Revenues increased 412 percent to a record $3.1 million for the third quarter of 2011 compared to $607,253 in the comparable quarter of 2010.
Operating income for the third quarter of 2011 was $547,272 compared to an operating loss of $51,094 in the third quarter of 2010.
Synergy narrowed its net loss to $291,612, or $(0.01) per share, for the third quarter 2011 from a net loss of $3.6 million, or $(0.30) per share, for the same year ago period.
As of May 31, 2011, the company reported operating cash flow of $3.8 million. Positive shareholders equity was $45.1 million for the quarter compared to negative $1.0 million the previous year.
The company reported oil and natural gas production of 467 Boe/d for the third quarter 2011, an increase of 213 percent compared to the third quarter of the year prior.
The company generated $5.2 million from the sale of mineral interests in 3,502 gross acres, and acquired interests in 88 oil and natural gas leases in the core Wattenberg Field. As of May 31, 2011, Synergy had 124 gross wells, 114 producing wells, eight wells in progress and two shut in wells.
“Fiscal 2011 is rapidly shaping up to be our company’s best year since inception. Accelerated drilling activity on our core Wattenberg projects has improved our production rates and continues to drive our strong revenue growth,” Edward Holloway, CEO and president of Synergy stated in the press release. “Our liquid-rich projects, located predominantly in the northeast and central portion of the Wattenberg, contributed to our record quarterly performance. In addition, we increased our prospective Niobrara acreage position and also engaged in several transactions that expanded our footprint in the Wattenberg Field and the D-J Basin.”
For more information visit www.SYRGinfo.com
Sky Power Solutions Corp. (SPOW) Comes Up with Creative Solution
Sky Power Solutions, a development stage alternative energy company, is focused on America’s overburdened and increasingly vulnerable electrical grid. It’s an issue understandably pertinent to Sky Power, since the company is directly involved in the electric car market. Sky Power is the exclusive provider of advanced lithium ion battery technology to Li-ion Motors Corp. for use in their all-electric, zero-emission automobiles. The company sees the growth in consumer acceptance of electric cars as placing a growing burden on the country’s grid just when electrical production capacity is leveling out. If demand for electricity grows faster than supply, the inevitable rise in prices could put a damper on future growth.
Sky Power has come up with a creative way to help address the grid issue, at the same time allowing it to diversify the application of its technologies. The company has developed a solution to combine their advanced lithium ion battery technology and a unique solar concentrating collector design to produce a one-of-a-kind residential solar power generation system. The remarkably efficient electrical generation properties of the Sky Power system will allow the residential user to actually send excess electricity back into the grid, running their electric meter backwards, and reducing their own grid consumption (and costs) by as much as 30%-40%.
The effect will be to augment the nation’s supply of electricity by bringing online thousands, and perhaps eventually millions, of decentralized residential power generators. This in turn will reduce the need to build more centralized power plants, facilities which must be paid for even though they may only be required during peak energy periods. As the number of electric car owners grows, they will be able to tap into this increased decentralized supply, by using their own system, or benefitting from the Sky Power systems used by others.
For additional information, visit the company’s website at www.SkyPowerSolutions.com
Check Point (CHKP) Posts Q2 Earnings, Business Highlights
Check Point Software Technologies Ltd., an Internet security provider, today posted its financial results for the second quarter ended June 30, 2011, surpassing previous quarterly guidance.
“The first half of 2011 produced great results. We continued to outperform our projections in the second quarter. These good results are driven by increased sales of enterprise gateways with more software blades attached. In particular, our IPS and Application Control software blades have shown significant growth in the second quarter,” Gil Shwed, company founder, chairman and CEO stated in the press release.
Total revenue increased 15 percent to $300.6 million compared to $261.1 million reported in the second quarter of 2010.
Operating income increased 23 percent to $150.0 million compared to $122.1 million in the comparable quarter of the year prior.
The company reported net income of $128.0 million, or $0.60 per diluted share, a 24 percent increase over net income of $102.9 million, or $0.48 per diluted share, for the second quarter of 2010.
As of June 30, 2011, Check Point had cash balances, marketable securities and short-term deposits of $2689.8 million compared to $2140.9 million in the comparable three months of the year prior.
The company also pointed out several business highlights for the quarter, including the roll-out of two new products: ZoneAlarm SocialGuard, which enables parents to protect their children from social threats found online; and ZoneAlarm 2012 Suite, a cloud-based service that detects existing and emerging threats.
“Our security focus is continuing to pay off. I’m pleased to see that customers are adopting more software blades to enhance their threat protection and raise the level of security in their organization,” Shwed concluded. “We will continue to deliver on our 3D security vision combining policy, people and enforcement to provide the best protection for our customers.”
For more information visit www.checkpoint.com
HotCloud Mobile, Inc. (HOTM) Provides Investors with Corporate Update
HotCloud Mobile, a top supplier of wireless products/services, from the hottest new phones and accessories for sale on the Company’s website, to exclusive mobile content and apps, provided a quarterly update to stakeholders today.
CEO of HOTM, David Bleeden, assured that the Company is dedicated to transparency and will continue to release such quarterly updates, as well as interim letters to shareholders, in addition to the already filed/required periodic filings with the SEC and newsworthy press releases. Bleeden affirmed that because HOTM is a start-up, it is crucial to the situational awareness and therefore confidence of the market that the constant flurry of activity behind the scenes is telegraphed in an effective manner, specifically for retail and institutional investors.
Bleeden pointed to the large historical customer base and “solid industry relationships” already rigorously cultivated by HOTM and explained how important fully leveraging these positions will be to achieving the Company’s projected growth trajectory. Via partnerships with FanMaxx, MacroSolve, and NexBoom, HOTM is able to experience rapid, organic growth, while adding substantial value per customer by using “patented, state-of-the-art, viral, social mobile technologies.”
Bleeden indicated plans to build out a multi-channel distribution framework through HOTM subsidiary, Stars Wireless, Inc., was already underway with the intent of being able to fully manage retail and wholesale channels. Bleeden further explained that the Company’s HotCloudMobile.com direct-to-consumer website, where HOTM sells the hottest new mobile handsets and accessories, would typify this fully operational retail/wholesale pipeline. Stars Wireless is destined to be the corner stone of HOTM’s equipment business and Bleeden assured stakeholders that it would have an industry veteran who really knows this business at the helm.
Bleeden described this marriage of “world-class products and distribution” at both retail and wholesale levels, with the hottest cutting-edge technologies, as the most fertile soil for growth. Pointing to the initial technology partnership, which was established with MacroSolve, Bleeden explained that the novel, patented technology would allow HOTM, as one of the first vendors of licensed mobile applications under the new patent, considerable advantage in the sector. This is particularly important when approaching potential licensees who are keen to the explosive private-labeled mobile applications space.
Bleeden then talked about the FanMaxx partnership and the shrewd move to develop an app targeting celebrities, athletes, entertainers and other buzz-worthy personages. The app is intended to help maximize the user experience for fans, while offering a seamless means of monetizing the fan base. Bleeden asserted that negotiations are ongoing with several potential licensees in the run up to the FanMaxx app launch slated for August, 2011.
The NexBoom marketing and distribution partnership rounds out developments for the quarter, as HOTM will offer its customer base and distribution muscle to the roll out of NexBoom’s tablet computer. The Company intends to offer a suite of co-branded mobile applications for the tablet, along with a premium mobile content platform. NexBoom will also help market/distribute HOTM’s apps to its own up to 100M user social media network.
Bleeden summed things up by citing a recent study by the world’s second largest app store, GetJar, which put a $17.5B price tag on the on the app market alone in the next three years. With major retailers selling iPhones and Androids in record numbers, there is an incredibly large market to grab real estate in.
For more information on HOTM and to check out their wide selection of products and services, please visit the Company’s website at: http://www.hotcloud.net and http://www.hotcloudmobile.com
Perma-Fix Environmental (PESI) to Acquire Homeland Security Capital (HOMS) Subsidiary
Perma-Fix Environmental Services Inc., a national environmental services company providing unique mixed waste and industrial waste management services, today announced it will acquire Safety and Ecology Holdings Corp. (SEC) from Homeland Security Capital Corp. for approximately $24.5 million.
SEC specializes in the remediation of nuclear materials for the U.S. Department of Energy, U.S. Department of Defense, as well as other federal agencies. In 2010 the company generated approximately $86.0 million in revenue and $3.3 million in net income. Perma-Fix said it expects the acquisition will be accretive to earnings, excluding any one-time acquisition-related expenses.
Perma-Fix chairman and CEO Dr. Louis F. Centofanti said the SEC acquisition will enhance Perma-Fix’s market position and nuclear service capabilities.
“The acquisition of SEC dramatically expands our nuclear services capabilities. On a combined basis, we can now offer customers, both government and commercial, one of the broadest and most comprehensive end-to-end nuclear waste solutions in the industry,” Dr. Centofanti stated in the press release. “We believe that this expansion of our nuclear service capabilities, coupled with our existing nuclear waste treatment expertise, clearly places us at the forefront of the industry and should enhance our value to our customers and our shareholders. SEC brings a highly qualified management team who we feel will integrate well and complement our current management.”
For SEC, the deal will create a solid base to expand its solutions.
“We are excited to become a part of Perma-Fix Environmental Services, a true leader and innovator in the nuclear services industry. As we unite through this transaction, our technologies and capabilities provide a much broader platform from which to grow the business, offering complete solutions to our customers,” Christopher Leichtweis, CEO of SEC, stated.
Perma-Fix will pay Homeland $22.0 million in cash, along with a three-year unsecured $2.5 million promissory note with a 6 percent annual interest rate. The acquisition is expected to be completed during the third quarter of 2011.
For more information visit www.perma-fix.com
Scorpex, Inc. (SRPX) Details Current Site Status and Announces Plans for Further Construction
Today before the opening bell, Scorpex, Inc. reported the current status of its 26-acre site located at Fraccion A-2 Del Rancho El Encinito KM 18.7 Carretera A Ensenada – OJOS Delegacion Real Del Castillo, Ensenada, B.C.CP 22800. Located less than two miles from the current landfill near Ensenada, Mexico, the site was chosen after consultation with numerous officials and realtors.
On-site improvements recently completed include a 10,000 square foot specifically-designed storage facility with 22 foot ceiling, a “catch” drainage system, and emergency sprinkler system. Property upgrades include a water reservoir, septic system and one mile of 13 foot high security fencing around the property. Additionally, the company has completed extensive land use, permitting and ecological studies. The property has undergone three years of applications, permitting and governmental required studies.
Joseph Caywood, Chief Executive Officer, commented, “We have made remarkable progress over the past several years, building a solid foundation for moving forward. The Company’s near-term plans include paved roads, complete storage facilities, scales, construction of a larger guard shack, on-site offices, lights on perimeter of property, additional wiring, engaging two construction companies and installation of gasification/thermal oxidation equipment.”
Sino Clean Energy, Inc. (SCEI) Announces Non-Binding Agreement to Acquire 60% Stake in Foshan Nan Hai CWSF Co., Ltd
Sino Clean Energy, a leading producer and distributor of coal-water slurry fuel (“CWSF”) in China, yesterday announced it has signed a non-binding preliminary agreement to acquire Crown Energy Limited, which holds as its sole business a 60 percent stake in Foshan Nan Hai.
Foshan Nan Hai is widely recognized as the largest producer of CWSF in China. Foshan Nan Hai was founded in 2003 and has an installed capacity of 1.2 metric tons and reserved capacity of 1 million tons. The company is located in Foshan City, Guangdong Province, where the local government promotes CWSF for energy conservation and carbon emission reduction. Foshan Nan Hai supplies to the largest CWSF boiler in China.
Baowen Ren, Chairman and CEO of Sino Clean Energy stated, “We believe that Foshan Nan Hai is a significant producer of CWSF producer in China and that the local market it serves shows strong growth potential. The Company is fortunate to have the opportunity to consider the investment, which is in line with our business development strategy. Based on the results of our investigations, the Company’s production capacity in Guangdong Province could be strengthened if we elect to complete this acquisition.”
If after due diligence, Sino Clean Energy decides to complete the acquisition, it will control a 60 percent stake in Foshan Nan Hai.
Scorpex, Inc. (SRPX) Details Current Site Status and Announces Plans for Further Construction
Today before the opening bell, Scorpex, Inc. reported the current status of its 26-acre site located at Fraccion A-2 Del Rancho El Encinito KM 18.7 Carretera A Ensenada – OJOS Delegacion Real Del Castillo, Ensenada, B.C.CP 22800. Located less than two miles from the current landfill near Ensenada, Mexico, the site was chosen after consultation with numerous officials and realtors.
On-site improvements recently completed include a 10,000 square foot specifically-designed storage facility with 22 foot ceiling, a “catch” drainage system, and emergency sprinkler system. Property upgrades include a water reservoir, septic system and one mile of 13 foot high security fencing around the property. Additionally, the company has completed extensive land use, permitting and ecological studies. The property has undergone three years of applications, permitting and governmental required studies.
Joseph Caywood, Chief Executive Officer, commented, “We have made remarkable progress over the past several years, building a solid foundation for moving forward. The Company’s near-term plans include paved roads, complete storage facilities, scales, construction of a larger guard shack, on-site offices, lights on perimeter of property, additional wiring, engaging two construction companies and installation of gasification/thermal oxidation equipment.”
SRPX Details Current Site Status and Announces Plans for Further Construction
Today before the opening bell, Scorpex, Inc. reported the current status of its 26-acre site located at Fraccion A-2 Del Rancho El Encinito KM 18.7 Carretera A Ensenada – OJOS Delegacion Real Del Castillo, Ensenada, B.C.CP 22800. Located less than two miles from the current landfill near Ensenada, Mexico, the site was chosen after consultation with numerous officials and realtors.
On-site improvements recently completed include a 10,000 square foot specifically-designed storage facility with 22 foot ceiling, a “catch” drainage system, and emergency sprinkler system. Property upgrades include a water reservoir, septic system and one mile of 13 foot high security fencing around the property. Additionally, the company has completed extensive land use, permitting and ecological studies. The property has undergone three years of applications, permitting and governmental required studies.
Joseph Caywood, Chief Executive Officer, commented, “We have made remarkable progress over the past several years, building a solid foundation for moving forward. The Company’s near-term plans include paved roads, complete storage facilities, scales, construction of a larger guard shack, on-site offices, lights on perimeter of property, additional wiring, engaging two construction companies and installation of gasification/thermal oxidation equipment.”
Move, Inc. (MOVE) Completes Strategic Acquisition of SocialBios to Integrate Social Networking and Real Estate
Online real estate company Move, Inc. today announced it has acquired social search platform company SocialBios to support Move’s entrance into social networking and to enhance its current real estate services.
SocialBios creates an online hub for individuals and companies to collaborate their online profiles through “About Us” pages, allowing for the discovery of shared connections on various other social networking sites such as Facebook, LinkedIn and Twitter.
Move’s plan is to integrate its online real estate network with SocialBios’ platform to develop products that connect people with real estate professionals.
“Real estate is inherently a social business. Today’s search experience is highly interactive and instant with the explosion of mobile in real estate. We’re uniquely positioned to lead our industry and connect people naturally through their social graph,” Scott Boecker, chief product officer at Move stated in the press release. “This acquisition brings a new element of discovery and creativity to our online real estate marketplace as we evolve our web, mobile and social search experiences.”
Move isn’t alone in its recognition of the potential SocialBios provides to the real estate industry. SocialBios was voted 2011 ‘Best Tech Startup’ winner at Inman Connect NYC by real estate industry leaders who viewed the new technology as the one that would most benefit their industry.
As part of the acquisition agreement, SocialBios founder Ernie Graham and co-founders Ira McMahon and Andrew Van Tassel will join the product development team at Move.
“We’re very excited to join Move and the talented team that continually delivers great products and services based on the premise of connection,” Ernie Graham, general manager for Move’s SocialBios platform stated. “By using the current SocialBios platform as a springboard and leveraging Move’s product and technology assets, we’ll take the concept of social capital discovery and create new ways to expedite higher quality connections between agents and consumers. We’re looking forward to the road ahead and transcending the traditional boundaries within our industry of how to drive better client-agent relationships.”
The financial terms of the acquisition were not released.
For more information visit www.SocialBios.com
Bacterin International Holdings Inc. (BONE) to Report 7th Straight Quarter of Record Revs
Bacterin International Holdings Inc., a developer, manufacturer and marketer of biologics products for medical applications, is preparing to report its seventh consecutive quarter of record revenue growth.
Based on preliminary unaudited information, the company said it expects to report second quarter 2011 revenue of approximately $7.5 million, a 134 percent increase compared to $3.2 million reported in the same year-ago quarter.
Bacterin attributes the revenue increase to growth in the number of domestic hospitals and new international accounts using Bacterin products, which stem from the company’s expanding direct and outside sales forces.
Guy Cook, Bacterin chairman and CEO, said the record revenue also reflects the significant operational process made during the quarter, including the launch of the company’s third human acellular biological scaffold.
“We expect this revenue momentum and domestic and international market expansion to continue building throughout the rest of the year, especially with the recent addition of Bacterin’s product line to ROI’s nationwide network of hospitals and medical practices,” Cook stated in the press release. “We also plan to leverage our direct sales force with new product lines that complement existing ones.”
The company successfully increased its working capital, which it will use for further product development, as well as to enhance its recently acquired Robinson MedSurg orthopedic implants with Bacterin anti-microbial coating technology.
Bacterin said it plans on submitting an application later this year to get FDA approval for its anti-microbial coatings technology.
For more information visit www.bacterin.com
Today, Scorpex, Inc. closed trading at $1.68, up 8.39%, on 46,303 volume with 100 trades. The stock’s average daily volume over the past 30 days is 7,198 with a 52-week low/high of $0.40/$15.00.