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awesome!! ty....NSHV .049/.05 1x1
NSHV .045x2 .05x1
TLAB 10.77 Tellabs Issues Statement on Supreme Court Ruling in Tellabs v. Makor
Jun 21, 2007 11:48:00 AM
NAPERVILLE, Ill., June 21 /PRNewswire-FirstCall/ -- The following statement on today's ruling in Tellabs v. Makor is attributed to James M. Sheehan, Tellabs general counsel:
"Tellabs applauds the Supreme Court decision. We are encouraged that the Supreme Court recognized that the Seventh Circuit's decision was incorrect. The Supreme Court has also appropriately established a strict standard to be applied in sending the case back for further review. We believe that Congress intended such a rigorous standard when it enacted the Private Securities Litigation Reform Act of 1995 (PSLRA).
"We are confident that the complaint brought by Millberg Weiss against Tellabs will ultimately be found to be without merit."
About Tellabs -- Tellabs advances telecommunications networks to meet the evolving needs of users. Solutions from Tellabs enable service providers to deliver high-quality voice, video and data services over wireline and wireless networks around the world. Ranked among the BusinessWeek InfoTech 100, Tellabs (Nasdaq: TLAB) is part of the NASDAQ-100 Index, NASDAQ Global Select Market, Ocean Tomo 300(TM) Patent Index and the S&P 500. http://www.tellabs.com
Forward-Looking Statements -- This news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ from the results discussed in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, risks associated with: the competitive landscape, including pricing and margin pressures, the response of customers and competitors, industry consolidation, the introduction of new products, the entrance into new markets, the ability to secure necessary resources, and the economic changes generally impacting the telecommunications industry. The company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after today or to reflect the occurrence of unanticipated events. For a more detailed description of the risk factors, please refer to the company's SEC filings.
Tellabs(R) and Tellabs logo are trademarks of Tellabs or its affiliates in the United States and/or other countries. Any other company or product names mentioned herein may be trademarks of their respective companies.
SOURCE Tellabs
----------------------------------------------
Media
George Stenitzer
+1-630-798-3800
george.stenitzer@tellabs.com
or Investors
Tom Scottino
+1-630-798-3602
tom.scottino@tellabs.com
both of Tellabs
CDOC 1.50 Coda Octopus Group, Inc. Subsidiary Completes $1.56 Million Contract With Raytheon Missile Systems
Jun 21, 2007 11:40:00 AM
NEW YORK, NY -- (MARKETWIRE) -- 06/21/07 -- Coda Octopus Group, Inc. (PINKSHEETS: CDOC), a world leader in underwater terrorism prevention, headquartered here, today announced a contract with Raytheon Missile Systems for approximately $1,560,000, through its wholly owned subsidiary Colmek Systems Engineering.
The contract is for the upgraded design and production of electronic chassis for the highly robust, integrated Phalanx in-close weapons defense system utilizing advanced RADAR and Infrared Video to locate and destroy incoming hostile threats. The Company said the contract, which is initially for a period of eight months, has resulted in an immediate doubling of production output at Colmek's Salt Lake City headquarters and a backlog of work stretching ahead for at least the next twelve months. This contract comes shortly after the awards of $476,000 and $212,000 for the continued development of the US Navy's mine-hunting towfish. Colmek provides the airborne and land based recording, display and digital processing for the Laser and Sonar based system, which rides aboard the MH-53E Helicopter. Based in Salt Lake City, Colmek had revenues for FY 2006 of $2,900,000.
According to Jason Reid, Coda's President and CEO, "The Raytheon contract is an excellent illustration of the best-of-class engineering skills and business relationships Colmek Systems Engineering brings to the Coda Octopus Group. We believe these skills and relationships will be of tremendous value to Coda in its efforts to win contracts and deliver real-time 3D sonar systems to port authorities, governments, and prime contractors like Raytheon on a worldwide basis."
On April 26, 2007, Coda announced the acquisition of Colmek Systems Engineering in a cash and stock transaction valued at $2,075,000, with $800,000 cash paid at closing.
For further information on Colmek Systems Engineering, please visit its website www.colmek.com.
About Coda Octopus
Founded in 1994 as Coda Technologies, Coda Octopus is recognized internationally as a leading developer of underwater technologies for imaging, mapping, defense and survey applications. Based in New York, with R&D, manufacturing, and sales facilities in the UK, Norway, and Florida, its key products include Octopus precision motion sensors, Coda and Octopus marine software and systems, Octopus thermal printers and the unique Coda Echoscope -- the first real time 3D sub sea sonar with a variety of applications within navies and for sub sea construction. The Echoscope is the heart of the Coda Octopus Underwater Inspection System used for homeland security in ports around the world. With the successful launch of this patented new product, which revolutionizes sub sea visualization, Coda Octopus believes it has established itself as the world leader in underwater port security technology.
For further information, please visit http://www.codaoctopus.com or contact Coda Octopus at info@codaoctopus.com
Safe Harbor Statement: Except for historical information, the matters set forth herein, which are forward-looking statements, involve certain risks and uncertainties that could cause actual results to differ. Potential risks and uncertainties include, but are not limited to, market acceptance of Coda Octopus' planned products and their level of sales, access to the capital necessary to finance and grow the business, a highly competitive environment in the security field that includes numerous large and well established companies much larger than ours, and our ability successfully deploy our technologies and products to meet the technical demands and market requirements of our customers.
Company Contact:
Jason Reid
CEO
(212) 924-3442
Agency Contact:
Equity Communications:
Ira Weingarten
(805) 897-1880
Steve Chizzik
(908) 688-9111
GLDS .30 Groupe Latecoere Selects Gales Industries Subsidiary for Boeing 777 Cargo Door Parts
New Customer and New Product Support Diversification & Growth Strategies
Jun 21, 2007 11:27:00 AM
Copyright Business Wire 2007
BAY SHORE, N.Y.--(BUSINESS WIRE)--
Gales Industries Incorporated (OTCBB:GLDS), a holding company established to consolidate manufacturers, engineering integrators and specialized service providers to the aerospace/defense industry, today announced that its wholly-owned operating subsidiary, Air Industries Machining Corp. (AIM), has been selected by Groupe Latecoere to manufacture cargo door mechanism parts for the Boeing 777 freighter aircraft. This new order reflects AIM's ongoing diversification initiative. With a global reputation as a leading manufacturer of landing gear and flight safety parts, this new order also marks AIM's entry into the market for door mechanisms parts. Terms of this initial contract were not disclosed.
The cargo door mechanism parts will be manufactured in AIM's Bay Shore, NY, facility and shipped to Latecoere in Toulouse, France, by the end of 2007. Latecoere has been supplying Boeing with passenger doors for the "7" aircraft fleet for nearly three years. Within the last year, Latecoere had been selected by Boeing for production of main deck cargo doors for the freighter version of its 777 aircraft.
"We are pleased to welcome Groupe Latecoere, the French aviation pioneer and a leading global manufacturer of aircraft passenger and cargo doors, as a new customer," said Peter Rettaliata, Chief Executive Officer of Gales. "Supporting our diversification goals, the contract with Latecoere extends our manufacturing capabilities for the first time into the market for aircraft doors, and allows us to further participate as a supply chain partner with Boeing. In less than a month, we have been awarded two separate contracts to supply parts to be used in Boeing commercial aircraft. The opportunity with Boeing alone, which is playing a major role in the commercial aerospace resurgence, is significant to our overall growth and diversification strategies."
Founded in 1917, Groupe Latecoere specializes in design and production of fuselage structure, doors and wiring systems for commercial and military aircraft. Latecoere supplies doors for the world's major commercial, regional and business aircraft programs. In 2006, Latecoere produced over 1,500 aircraft doors for a range of manufacturers.
Boeing is a leading player in the global commercial aerospace resurgence, with an extensive fleet of aircraft provided for passenger as well as cargo flights. In its most recent World Air Cargo Forecast, released in September 2006, Boeing forecasts international air cargo growth to average 6.1 percent over the next 20 years, with Asia-related routes leading that growth. Intra-Asia markets will expand by 8.6 percent, North America-Asia will increase 7.2 percent, and Europe-Asia will average 6.9 percent growth.
According to Boeing, the 777 family of airplanes is popular with passengers and airlines because of its fuel-efficient twin-engine design, high reliability, low operating costs, and comfortable and spacious interior. The 777-300ER typically carries 365 passengers up to 7,930 nautical miles (14,685 kilometers).
With the 787 and 777, Boeing offers a complete family of airplanes to cover the 200- to 400-seat market segment. With complementary range, speed, efficiency and operational commonality, yet differing seating and cargo capacities, airlines can use both models in their fleets to tailor capacity to meet seasonal demand.
The 777 family of airplanes is the market leader in the 300 to 400-seat segment, capturing more than 65 percent of that market. Boeing continues to enhance the 777 family with the recent introduction of two new longer-range models and a freighter version currently in development.
ABOUT GALES INDUSTRIES INCORPORATED
Gales Industries Incorporated (OTCBB:GLDS) is a holding company established to engage in the consolidation of manufacturers, engineering integrators and related service providers to the aerospace/defense and commercial aviation industries. The Company is focused on flight safety and other critical componentry. Consolidation opportunities include companies operating within highly synergistic disciplines of manufacturing, technical services and strategic products distribution. The Company's strategy and attendant tactical plan is to execute its consolidation principally amongst Tier III, IV and V aerospace/defense subcontractors. Gales offers a tailored exit strategy or management continuity strategy in exchange for qualified acquisitions, and targets technically superior middle market organizations with revenues of up to $100 million annually. Information on the Company and its products may be found online at www.airindmc.com.
Certain matters discussed in this press release are 'forward-looking statements' intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company's statements regarding trends in the marketplace, firm backlog, projected backlog, potential future results and acquisitions, are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the timing of projects due to the variability in size, scope and duration of projects, estimates, projections and forecasts made by management with respect to the Company's critical accounting policies, firm backlog, projected backlog, regulatory delays, government funding and budgets, matters pertaining to potential and pending acquisitions subject to and after closings, and other factors, including results of financial audits and general economic conditions, not within the Company's control. Certain of the Company's forward looking statements, with the projected backlog in particular, are formulated based on management's extensive industry experience and understanding and assessment of industry trends, customer requirements, and related government spending. Projected backlog may be subject to variability and may increase or decrease at any time based on a variety of factors, including but not limited to modifications of previously released orders, acceleration of orders under general purchase agreements, etc. The factors discussed herein and expressed from time to time in the Company's filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Source: Gales Industries Incorporated
----------------------------------------------
Darrow Associates
Inc.
Jordan M. Darrow
631-367-1866
jdarrow@darrowir.com
GLDS .30 Groupe Latecoere Selects Gales Industries Subsidiary for Boeing 777 Cargo Door Parts
New Customer and New Product Support Diversification & Growth Strategies
Jun 21, 2007 11:27:00 AM
Copyright Business Wire 2007
BAY SHORE, N.Y.--(BUSINESS WIRE)--
Gales Industries Incorporated (OTCBB:GLDS), a holding company established to consolidate manufacturers, engineering integrators and specialized service providers to the aerospace/defense industry, today announced that its wholly-owned operating subsidiary, Air Industries Machining Corp. (AIM), has been selected by Groupe Latecoere to manufacture cargo door mechanism parts for the Boeing 777 freighter aircraft. This new order reflects AIM's ongoing diversification initiative. With a global reputation as a leading manufacturer of landing gear and flight safety parts, this new order also marks AIM's entry into the market for door mechanisms parts. Terms of this initial contract were not disclosed.
The cargo door mechanism parts will be manufactured in AIM's Bay Shore, NY, facility and shipped to Latecoere in Toulouse, France, by the end of 2007. Latecoere has been supplying Boeing with passenger doors for the "7" aircraft fleet for nearly three years. Within the last year, Latecoere had been selected by Boeing for production of main deck cargo doors for the freighter version of its 777 aircraft.
"We are pleased to welcome Groupe Latecoere, the French aviation pioneer and a leading global manufacturer of aircraft passenger and cargo doors, as a new customer," said Peter Rettaliata, Chief Executive Officer of Gales. "Supporting our diversification goals, the contract with Latecoere extends our manufacturing capabilities for the first time into the market for aircraft doors, and allows us to further participate as a supply chain partner with Boeing. In less than a month, we have been awarded two separate contracts to supply parts to be used in Boeing commercial aircraft. The opportunity with Boeing alone, which is playing a major role in the commercial aerospace resurgence, is significant to our overall growth and diversification strategies."
Founded in 1917, Groupe Latecoere specializes in design and production of fuselage structure, doors and wiring systems for commercial and military aircraft. Latecoere supplies doors for the world's major commercial, regional and business aircraft programs. In 2006, Latecoere produced over 1,500 aircraft doors for a range of manufacturers.
Boeing is a leading player in the global commercial aerospace resurgence, with an extensive fleet of aircraft provided for passenger as well as cargo flights. In its most recent World Air Cargo Forecast, released in September 2006, Boeing forecasts international air cargo growth to average 6.1 percent over the next 20 years, with Asia-related routes leading that growth. Intra-Asia markets will expand by 8.6 percent, North America-Asia will increase 7.2 percent, and Europe-Asia will average 6.9 percent growth.
According to Boeing, the 777 family of airplanes is popular with passengers and airlines because of its fuel-efficient twin-engine design, high reliability, low operating costs, and comfortable and spacious interior. The 777-300ER typically carries 365 passengers up to 7,930 nautical miles (14,685 kilometers).
With the 787 and 777, Boeing offers a complete family of airplanes to cover the 200- to 400-seat market segment. With complementary range, speed, efficiency and operational commonality, yet differing seating and cargo capacities, airlines can use both models in their fleets to tailor capacity to meet seasonal demand.
The 777 family of airplanes is the market leader in the 300 to 400-seat segment, capturing more than 65 percent of that market. Boeing continues to enhance the 777 family with the recent introduction of two new longer-range models and a freighter version currently in development.
ABOUT GALES INDUSTRIES INCORPORATED
Gales Industries Incorporated (OTCBB:GLDS) is a holding company established to engage in the consolidation of manufacturers, engineering integrators and related service providers to the aerospace/defense and commercial aviation industries. The Company is focused on flight safety and other critical componentry. Consolidation opportunities include companies operating within highly synergistic disciplines of manufacturing, technical services and strategic products distribution. The Company's strategy and attendant tactical plan is to execute its consolidation principally amongst Tier III, IV and V aerospace/defense subcontractors. Gales offers a tailored exit strategy or management continuity strategy in exchange for qualified acquisitions, and targets technically superior middle market organizations with revenues of up to $100 million annually. Information on the Company and its products may be found online at www.airindmc.com.
Certain matters discussed in this press release are 'forward-looking statements' intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company's statements regarding trends in the marketplace, firm backlog, projected backlog, potential future results and acquisitions, are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the timing of projects due to the variability in size, scope and duration of projects, estimates, projections and forecasts made by management with respect to the Company's critical accounting policies, firm backlog, projected backlog, regulatory delays, government funding and budgets, matters pertaining to potential and pending acquisitions subject to and after closings, and other factors, including results of financial audits and general economic conditions, not within the Company's control. Certain of the Company's forward looking statements, with the projected backlog in particular, are formulated based on management's extensive industry experience and understanding and assessment of industry trends, customer requirements, and related government spending. Projected backlog may be subject to variability and may increase or decrease at any time based on a variety of factors, including but not limited to modifications of previously released orders, acceleration of orders under general purchase agreements, etc. The factors discussed herein and expressed from time to time in the Company's filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Source: Gales Industries Incorporated
----------------------------------------------
Darrow Associates
Inc.
Jordan M. Darrow
631-367-1866
jdarrow@darrowir.com
NSHV .048/.05 1x1
AVVW bouncer? L2...getting a little vol
EEGC Empire Energy Subsidiary Signs Exclusive License to Supply China Dairy and Agricultural Markets With Water Purification Technology
Jun 21, 2007 11:08:00 AM
LENEXA, KS -- (MARKETWIRE) -- 06/21/07 -- Empire Energy Corporation International (OTCBB: EEGC) today announced that its 47 percent-owned subsidiary, Pacific Rim Foods Ltd. (PRF), has signed an exclusive license agreement with Proton Laboratories to market that company's water treatment technology to the dairy and agricultural processing markets in China.
In the dairy sphere, the technology produces a functional water, consumed by dairy cows, that is free of various strains of bacteria, virus, fungi, spores and communicable disease and has hydrating abilities superior to existing water sources. In the agriculture sector, Proton's technology can be used as a growth medium for organic produce, as a replacement for fungicides, and as a tool for eliminating salmonella, listeria, E. coli and other dangerous bacteria.
Pacific Rim plans to sub-license the technology to both the leading dairy and the leading agricultural roll-up company in China, which will install the technology in dairy farms and fresh fruit and vegetable processing plants across that nation.
China's water supply is generally acknowledged to be ravaged by a series of organic and inorganic pollutants. The lack of clean water creates the threat of tainted milk and widespread disease carried by other animal products as well as by agricultural produce.
According to Euromonitor International, the world's leading independent provider of business intelligence, sales of bottled functional water in China in 2005 amounted to RMB1.2 billion (approximately US$148 million).
Potential annual functional water sales to China's dairy and agricultural markets could be significantly higher, said PRF.
Today's announcement, combined with Pacific Rim's recent investment in Mach One Corporation -- a maker of a synthetic colostrum (an antibody- and mineral-rich fluid that passes on a cow's immune system to its newborn) -- expands PRF's ability to satisfy the demand for numerous dairy and agriculture-based products in China.
Malcolm Bendall, CEO of Empire Energy, said, "We are pleased with the continued equity growth of our investment in Pacific Rim, consistent with our plans to grow the business to a level that it can be separately traded publicly on an exchange such as the Alternative Investment Market in London."
Pacific Rim Foods Ltd., a 47 percent-owned subsidiary of Empire Energy Corporation International (www.empireenergy.com), specializes in growing, canning and marketing the first sweet corn brand in China. With over 50 people on the ground in China, PRF, through its Jilin Jimei Foods Ltd. (www.jimeifoods.com.cn) interests, is positioned to extend its operations into a number of developing markets in the growing agricultural and dairy sector.
Proton Laboratories is a biotech-focused company specializing in the development and marketing of industrial, environmental and residential systems and applications that alter the properties of water to produce "Functional Water." Proton utilizes various forms of electrolytic ion separation to gain properties that substantially enhances its functionality. The end result is a non-chemical, non-toxic, renewable, cost-effective solution that addresses a myriad of today's industrial, health, food handling, environmental and safety issues. For more information about Proton Labs, please visit their website at www.protonlabs.com.
This press release contains forward-looking statements based on current expectations about our company and our industry. These forward-looking statements include words such as "expect," "anticipate," "estimate," "believes," "plans" and other similar expressions. These forward-looking statements involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of our ability to complete required financings and other preconditions to the completion of the transactions described. We undertake no obligation to publicly update any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. We caution you not to place undue reliance on those statements.
Contacts:
Tad Ballantyne
CEO
Pacific Rim Foods Ltd.
(262) 497-4625
Rick Eisenberg
Eisenberg Communications
(212) 496-6828
EEGC Empire Energy Subsidiary Signs Exclusive License to Supply China Dairy and Agricultural Markets With Water Purification Technology
Jun 21, 2007 11:08:00 AM
LENEXA, KS -- (MARKETWIRE) -- 06/21/07 -- Empire Energy Corporation International (OTCBB: EEGC) today announced that its 47 percent-owned subsidiary, Pacific Rim Foods Ltd. (PRF), has signed an exclusive license agreement with Proton Laboratories to market that company's water treatment technology to the dairy and agricultural processing markets in China.
In the dairy sphere, the technology produces a functional water, consumed by dairy cows, that is free of various strains of bacteria, virus, fungi, spores and communicable disease and has hydrating abilities superior to existing water sources. In the agriculture sector, Proton's technology can be used as a growth medium for organic produce, as a replacement for fungicides, and as a tool for eliminating salmonella, listeria, E. coli and other dangerous bacteria.
Pacific Rim plans to sub-license the technology to both the leading dairy and the leading agricultural roll-up company in China, which will install the technology in dairy farms and fresh fruit and vegetable processing plants across that nation.
China's water supply is generally acknowledged to be ravaged by a series of organic and inorganic pollutants. The lack of clean water creates the threat of tainted milk and widespread disease carried by other animal products as well as by agricultural produce.
According to Euromonitor International, the world's leading independent provider of business intelligence, sales of bottled functional water in China in 2005 amounted to RMB1.2 billion (approximately US$148 million).
Potential annual functional water sales to China's dairy and agricultural markets could be significantly higher, said PRF.
Today's announcement, combined with Pacific Rim's recent investment in Mach One Corporation -- a maker of a synthetic colostrum (an antibody- and mineral-rich fluid that passes on a cow's immune system to its newborn) -- expands PRF's ability to satisfy the demand for numerous dairy and agriculture-based products in China.
Malcolm Bendall, CEO of Empire Energy, said, "We are pleased with the continued equity growth of our investment in Pacific Rim, consistent with our plans to grow the business to a level that it can be separately traded publicly on an exchange such as the Alternative Investment Market in London."
Pacific Rim Foods Ltd., a 47 percent-owned subsidiary of Empire Energy Corporation International (www.empireenergy.com), specializes in growing, canning and marketing the first sweet corn brand in China. With over 50 people on the ground in China, PRF, through its Jilin Jimei Foods Ltd. (www.jimeifoods.com.cn) interests, is positioned to extend its operations into a number of developing markets in the growing agricultural and dairy sector.
Proton Laboratories is a biotech-focused company specializing in the development and marketing of industrial, environmental and residential systems and applications that alter the properties of water to produce "Functional Water." Proton utilizes various forms of electrolytic ion separation to gain properties that substantially enhances its functionality. The end result is a non-chemical, non-toxic, renewable, cost-effective solution that addresses a myriad of today's industrial, health, food handling, environmental and safety issues. For more information about Proton Labs, please visit their website at www.protonlabs.com.
This press release contains forward-looking statements based on current expectations about our company and our industry. These forward-looking statements include words such as "expect," "anticipate," "estimate," "believes," "plans" and other similar expressions. These forward-looking statements involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of our ability to complete required financings and other preconditions to the completion of the transactions described. We undertake no obligation to publicly update any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. We caution you not to place undue reliance on those statements.
Contacts:
Tad Ballantyne
CEO
Pacific Rim Foods Ltd.
(262) 497-4625
Rick Eisenberg
Eisenberg Communications
(212) 496-6828
yep! NSHV .05x3 .055x1
FPLF L2
i'll smile real big when that happens ...LOL!
LOL!! no doubt :)
NSHV L2
NSHV .05x4 .055x1...break of .06 and we are in rockin land :)
yep, that's the big names! :) NSHV .05/.055 3x1
NSHV .05/.058 2x2
IVGR .0018/.0019 awesome!! should be a great runner with continuing vol :)
IVGR .0017x2 .0018x1>>edit .0018/.0019 2x4
NSHV .048/.05 1x1
IVGR...if that OS figure is real it should def go for more...let's see what it does :)
ENCO 3.14 Encorium Group, Inc. Announces $3.8 Million Contract For Phase 2 Clinical Trial in Herpes Zoster (Shingles)
Jun 21, 2007 10:22:00 AM
Copyright Business Wire 2007
WAYNE, Pa.--(BUSINESS WIRE)--
Encorium Group, Inc. (Nasdaq: ENCO), a leader in the design, development, and management of complex clinical trials and patient registries for many of the world's leading pharmaceutical and biotechnology companies, today announced the signing of a $3.8 million contract for a Phase 2 clinical trial of a new antiviral agent to treat herpes zoster (shingles). Encorium will provide multiple services including program consulting, project management, site management and monitoring, data management, biostatistical support, and medical writing. Revenue recognition will begin during the current second quarter and continue on a proportional performance basis over the life of the contract as services are performed.
Kenneth M. Borow, M.D., Encorium Group's President and Chief Executive Officer, commented, "We are delighted to have been chosen by this new client to work on its Phase 2b trial involving a new antiviral agent for the treatment of herpes zoster (shingles). The program combines our expertise gained from operationally overseeing the highly successful 38,546 subject Shingles Prevention Trial with the patient recruitment experience obtained recently from clinical trials relating to antiviral treatments for acute influenza. Thus, this new contract represents an excellent blend of our infectious disease therapeutic area expertise and our highly relevant on-the-ground clinical operations capabilities and experience. We look forward to a long and mutually beneficial collaborative relationship with the sponsoring company."
Dr. Borow concluded, "We are now beginning to see the benefits of our expanded global business development efforts. This $3.8 million contract is a concrete example of the value that the biopharmaceutical industry places on our integrated offering of consulting services, operational expertise, proactive planning, and medical education capabilities. We anticipate announcing additional signed contracts over the next several months as well as further elaborating on other initiatives that we are pursuing."
About Herpes Zoster (Shingles)
Herpes zoster is caused by reactivation of the varicella zoster virus (VZV), the same virus that causes chickenpox. This can occur years or even decades after exposure to naturally occurring or vaccine type VZV. A decline in specific cell mediated immune response to VZV as observed in the elderly population and immunosuppressed hosts is regarded as the major precipitant for inducing VZV reactivation. It is estimated that 500,000 to 1 million cases of zoster are diagnosed annually in the U.S. Both genders are equally affected. About 20% of people who have had chicken pox will get zoster at some point during their lifetime. Zoster is characterized as a localized disease that usually involves only one side of the body. The rash that occurs with Zoster is often associated with significant pain. The pain symptoms may last many months after the rash has resolved. Use of antiviral therapy at the time of initial diagnosis is associated with a reduction in pain duration. The overall goals of antiviral therapy are to promote more rapid healing of skin lesions and to lessen the severity and duration of pain associated with the disease.
About Encorium Group, Inc.
Encorium Group, Inc. is a global clinical research organization that is a leader in the design and management of complex clinical trials and Patient Registries for the pharmaceutical, biotechnology and medical device industries. The Company's mission is to provide its clients with high quality, full-service support for their biopharmaceutical and medical device development programs. Encorium offers therapeutic expertise, experienced team management and advanced technologies. The Company has drug and biologics development as well as clinical trial experience across a wide variety of therapeutic areas such as infectious diseases, cardiovascular, vaccines, oncology, endocrinology/metabolism, diabetes, gene therapy, immunology, neurology, gastroenterology, dermatology, hepatology, women's health and respiratory medicine. Encorium believes that its leadership in the design of complex clinical trials, its therapeutic expertise and commitment to excellence, and its application of innovative technologies, offer its clients a means to more quickly and cost effectively move products through the clinical development process. Encorium is headquartered in Wayne, Pennsylvania with its European base of operations in Espoo, Finland. The Company has a geographic footprint that includes over one billion people in North America, Western/Central/Eastern Europe, Scandinavia, and the Baltics.
This press release contains forward-looking statements identified by words such as "estimate," "project," "expect," "intend," "believe," "anticipate" and similar expressions. Actual results might differ materially from those projected in, expressed in or implied by the forward-looking statements. Potential risks and uncertainties that could affect the Company's future operating results and financial condition include, without limitation: (i) our success in attracting new business and retaining existing clients and projects; (ii) the size, duration, and timing of clinical trials we are currently managing may change unexpectedly; (iii) the termination, delay or cancellation of clinical trials we are currently managing could cause revenues to decline unexpectedly; (iv) the timing difference between our receipt of contract milestone or scheduled payments and our incurring costs to manage these trials; (v) outsourcing trends in the pharmaceutical, biotechnology and medical device industries; (vi) the ability to maintain profit margins in a competitive marketplace; (vii) our ability to attract and retain qualified personnel; (viii) the sensitivity of our business to general economic conditions; (ix) other economic, competitive, governmental and technological factors affecting our operations, markets, products, services and prices; (x) announced awards received from existing and potential customers are not definitive until fully negotiated contracts are executed by the parties; (xi) our backlog may not be indicative of future revenues and may not generate the revenues expected; (xii) our ability to successfully integrate the businesses of Encorium and Remedium Oy which we acquired on November 1, 2006; and (xiii) ability of the combined businesses to operate successfully, generate revenue growth and operating profits. You should not place any undue reliance on these forward looking statements which speak only as of the date of this press release. Additional information concerning factors that might affect our business or stock price which could cause actual results to materially differ from those in forward-looking statements is contained in Encorium Group's SEC filings, including its Annual Report on Form 10-K for the year ended December 31, 2006 and other periodic reports under the Securities Exchange Act of 1934, as amended, copies of which are available upon request from Encorium Group's investor relations department or The Equity Group Inc.
Source: Encorium Group, Inc.
----------------------------------------------
Encorium Group
Inc.
Lawrence R. Hoffman
CPA
Esq.
Chief Financial Officer
610-975-9533
lhoffman@encorium.com
www.encorium.com
or
Investor Relations Counsel:
The Equity Group Inc.
Adam Prior
212-836-9606
aprior@equityny.com
www.theequitygroup.com
ENCO 3.14 Encorium Group, Inc. Announces $3.8 Million Contract For Phase 2 Clinical Trial in Herpes Zoster (Shingles)
Jun 21, 2007 10:22:00 AM
Copyright Business Wire 2007
WAYNE, Pa.--(BUSINESS WIRE)--
Encorium Group, Inc. (Nasdaq: ENCO), a leader in the design, development, and management of complex clinical trials and patient registries for many of the world's leading pharmaceutical and biotechnology companies, today announced the signing of a $3.8 million contract for a Phase 2 clinical trial of a new antiviral agent to treat herpes zoster (shingles). Encorium will provide multiple services including program consulting, project management, site management and monitoring, data management, biostatistical support, and medical writing. Revenue recognition will begin during the current second quarter and continue on a proportional performance basis over the life of the contract as services are performed.
Kenneth M. Borow, M.D., Encorium Group's President and Chief Executive Officer, commented, "We are delighted to have been chosen by this new client to work on its Phase 2b trial involving a new antiviral agent for the treatment of herpes zoster (shingles). The program combines our expertise gained from operationally overseeing the highly successful 38,546 subject Shingles Prevention Trial with the patient recruitment experience obtained recently from clinical trials relating to antiviral treatments for acute influenza. Thus, this new contract represents an excellent blend of our infectious disease therapeutic area expertise and our highly relevant on-the-ground clinical operations capabilities and experience. We look forward to a long and mutually beneficial collaborative relationship with the sponsoring company."
Dr. Borow concluded, "We are now beginning to see the benefits of our expanded global business development efforts. This $3.8 million contract is a concrete example of the value that the biopharmaceutical industry places on our integrated offering of consulting services, operational expertise, proactive planning, and medical education capabilities. We anticipate announcing additional signed contracts over the next several months as well as further elaborating on other initiatives that we are pursuing."
About Herpes Zoster (Shingles)
Herpes zoster is caused by reactivation of the varicella zoster virus (VZV), the same virus that causes chickenpox. This can occur years or even decades after exposure to naturally occurring or vaccine type VZV. A decline in specific cell mediated immune response to VZV as observed in the elderly population and immunosuppressed hosts is regarded as the major precipitant for inducing VZV reactivation. It is estimated that 500,000 to 1 million cases of zoster are diagnosed annually in the U.S. Both genders are equally affected. About 20% of people who have had chicken pox will get zoster at some point during their lifetime. Zoster is characterized as a localized disease that usually involves only one side of the body. The rash that occurs with Zoster is often associated with significant pain. The pain symptoms may last many months after the rash has resolved. Use of antiviral therapy at the time of initial diagnosis is associated with a reduction in pain duration. The overall goals of antiviral therapy are to promote more rapid healing of skin lesions and to lessen the severity and duration of pain associated with the disease.
About Encorium Group, Inc.
Encorium Group, Inc. is a global clinical research organization that is a leader in the design and management of complex clinical trials and Patient Registries for the pharmaceutical, biotechnology and medical device industries. The Company's mission is to provide its clients with high quality, full-service support for their biopharmaceutical and medical device development programs. Encorium offers therapeutic expertise, experienced team management and advanced technologies. The Company has drug and biologics development as well as clinical trial experience across a wide variety of therapeutic areas such as infectious diseases, cardiovascular, vaccines, oncology, endocrinology/metabolism, diabetes, gene therapy, immunology, neurology, gastroenterology, dermatology, hepatology, women's health and respiratory medicine. Encorium believes that its leadership in the design of complex clinical trials, its therapeutic expertise and commitment to excellence, and its application of innovative technologies, offer its clients a means to more quickly and cost effectively move products through the clinical development process. Encorium is headquartered in Wayne, Pennsylvania with its European base of operations in Espoo, Finland. The Company has a geographic footprint that includes over one billion people in North America, Western/Central/Eastern Europe, Scandinavia, and the Baltics.
This press release contains forward-looking statements identified by words such as "estimate," "project," "expect," "intend," "believe," "anticipate" and similar expressions. Actual results might differ materially from those projected in, expressed in or implied by the forward-looking statements. Potential risks and uncertainties that could affect the Company's future operating results and financial condition include, without limitation: (i) our success in attracting new business and retaining existing clients and projects; (ii) the size, duration, and timing of clinical trials we are currently managing may change unexpectedly; (iii) the termination, delay or cancellation of clinical trials we are currently managing could cause revenues to decline unexpectedly; (iv) the timing difference between our receipt of contract milestone or scheduled payments and our incurring costs to manage these trials; (v) outsourcing trends in the pharmaceutical, biotechnology and medical device industries; (vi) the ability to maintain profit margins in a competitive marketplace; (vii) our ability to attract and retain qualified personnel; (viii) the sensitivity of our business to general economic conditions; (ix) other economic, competitive, governmental and technological factors affecting our operations, markets, products, services and prices; (x) announced awards received from existing and potential customers are not definitive until fully negotiated contracts are executed by the parties; (xi) our backlog may not be indicative of future revenues and may not generate the revenues expected; (xii) our ability to successfully integrate the businesses of Encorium and Remedium Oy which we acquired on November 1, 2006; and (xiii) ability of the combined businesses to operate successfully, generate revenue growth and operating profits. You should not place any undue reliance on these forward looking statements which speak only as of the date of this press release. Additional information concerning factors that might affect our business or stock price which could cause actual results to materially differ from those in forward-looking statements is contained in Encorium Group's SEC filings, including its Annual Report on Form 10-K for the year ended December 31, 2006 and other periodic reports under the Securities Exchange Act of 1934, as amended, copies of which are available upon request from Encorium Group's investor relations department or The Equity Group Inc.
Source: Encorium Group, Inc.
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Encorium Group
Inc.
Lawrence R. Hoffman
CPA
Esq.
Chief Financial Officer
610-975-9533
lhoffman@encorium.com
www.encorium.com
or
Investor Relations Counsel:
The Equity Group Inc.
Adam Prior
212-836-9606
aprior@equityny.com
www.theequitygroup.com
NSHV .045/.05 1x1
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Posted by: ballyhooo
In reply to: None
Date:6/21/2007 10:15:25 AM
Post #of 90
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954-726-4954
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