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Hollis-Eden Pharmaceuticals Presents Positive Data with HE3286 in Preclinical Model of Established Rheumatoid Arthritis
Friday February 2, 7:00 am ET
Effect Linked to the Stimulation of Regulatory T Cells
SAN DIEGO--(BUSINESS WIRE)--Hollis-Eden Pharmaceuticals, Inc. (NASDAQ:HEPH - News) is presenting new data this week showing that HE3286, an orally bio-available small molecule compound, produced a statistically significant reduction in disease in a rodent model of established arthritis. The data, being presented at the Keystone Symposium on Regulatory T Cells held February 1 - 6 in Vancouver, British Columbia, extend positive results from a previous preclinical study in which treatments of HE3286 initiated at disease onset significantly reduced disease. In that previous study, treated animals had nearly double the frequency of regulatory T cells in their spleens at the end of the 50-day study, suggesting that treatment with androstene hormones such as HE3286 can modulate the function and frequency of regulatory T cells in animals. Regulatory T cells have been shown to play major roles in the control of all immune responses. Specifically, deficiencies in regulatory T cell activity are thought to play a crucial role in the development of many autoimmune diseases, including arthritis and multiple sclerosis.
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At the Keystone Symposium, Hollis-Eden is presenting new data showing that when treatments begin late in the disease course, HE3286 can still produce dramatic reductions in disease. Mice were immunized to induce disease, and one week after disease onset were treated orally with HE3286 or placebo. While the severity of arthritis worsened steadily in the placebo-treated group, it nearly resolved or remained at a minimum in the HE3286-treated group (p less than 0.001). Treatment resulted in a difference in arthritis severity that was on average 45% lower in the HE3286-treated group than in the placebo-treated group. The study was conducted in the DBA mouse model of collagen-induced arthritis, a model widely used in industry and academia to test new agents as potential treatments for rheumatoid arthritis. Rheumatoid arthritis affects approximately 2.1 million Americans and new drugs with novel mechanisms are needed.
"We continue to be impressed by the activity of HE3286 in our animal models," said Dr. Halina Offner, Professor of Neurology at Oregon Health Science University and an expert on animal models of autoimmune diseases. "We have now confirmed and extended our previous findings with this compound in rodent models of arthritis where we observed the number of regulatory T cells nearly doubled in the treated animals - an immunologically significant finding in this model. Our group at OHSU was particularly excited by our newest study, where dramatic benefit was observed even when the treatment of animals was delayed until late in the course of their disease. We want very much to test this compound now in other models of autoimmunity because the stimulation of regulatory T cell activity predicts that benefit should be seen across a number of autoimmune conditions."
"We are particularly excited by Dr. Offner's new observations with HE3286 in models of rheumatoid arthritis," said Richard B. Hollis, Chairman and Chief Executive Officer of Hollis-Eden Pharmaceuticals. "The ability to treat established disease in this indication is highly clinically relevant. Also important is the broader implication that androstene hormones in general might be natural regulators of regulatory T cells. We have developed collaborations with world-renowned experts to help us pursue this opportunity and test the intriguing hypothesis that the regulatory T cell represents one of the key relay points of our hormone signaling technology platform.
"These findings further demonstrate the potential of our technology platform from which we intend to launch multiple, potentially first-in-class compounds with therapeutic activity in a broad range of indications including infectious diseases, autoimmune and metabolic disorders, cancer and other diseases associated with aging," added Hollis. "As world leaders in translating this class of androstene hormones into pharmaceutical candidates, our objective is to provide patients and physicians with therapeutic options with unique mechanisms of action and favorable safety profiles in major disease markets."
Hollis-Eden Pharmaceuticals, Inc. is a world leader in the development of a class of adrenal steroid hormones as novel pharmaceuticals for human health. Through its proprietary Hormonal Signaling Technology Platform, Hollis-Eden is developing a new series of small molecule compounds that are metabolites or synthetic analogs of endogenous hormones derived by the adrenal glands from the body's most abundant circulating steroid. These androstene hormones, designed to restore the biological activity of cellular signaling pathways disrupted by disease and aging, have been demonstrated in humans to possess several properties with potential therapeutic benefit - they regulate innate and adaptive immunity, reduce nonproductive inflammation and stimulate cell proliferation. The Company's lead product candidate, NEUMUNE® (HE2100), is entering late-stage development for the treatment of Acute Radiation Syndrome (ARS), a life-threatening condition resulting from exposure to high levels of radiation following a nuclear or radiological incident, and is being explored for use in combating healthcare-associated infections. Hollis-Eden also is profiling optimized second-generation compounds for potential clinical development in a broad spectrum of therapeutic categories including hematology, metabolic disorders, autoimmune disorders, pulmonary diseases, oncology and infectious diseases. For more information on Hollis-Eden, contact the Company's website at www.holliseden.com.
This press release contains forward-looking statements within the meaning of the federal securities laws concerning, among other things, the potential and prospects of the Company's drug discovery program and its drug candidates. Any statements included in this press release that are not a description of historical facts are forward-looking statements that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause the Company's actual results to differ materially from historical results or those expressed or implied by such forward-looking statements. Such statements are subject to certain risks and uncertainties inherent in the Company's business, including, but not limited to: the ability to complete preclinical and clinical trials successfully and within specified timelines, if at all; the ability to obtain regulatory approval for NEUMUNE under the U.S. Food and Drug Administration Animal Efficacy Rule, even if shown to be effective in preclinical studies; the ability to receive any stockpiling orders for NEUMUNE from the U.S. federal, state and foreign governments or agencies, even if approved by regulatory authorities; the Company's future capital needs; the Company's ability to obtain additional funding; the ability of the Company to protect its intellectual property rights and to not infringe the intellectual property rights of others; the development of competitive products by other companies; and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, the Company undertakes no obligation to update or revise the information contained in this press release as a result of new information, future events or circumstances arising after the date of this press release.
Yes, I came so close to buying some Feb or Mar calls. Maybe I should be looking at some leaps or just buy the stock. Of course, however frustrating this is for us it must be a lot worse for them.
I am hoping when Lowman gets back from the DMV he will post his driver's license picture...lol
News!! Looks like deadline was pushed back again!
Hollis-Eden Pharmaceuticals Provides Update on Negotiations for BioShield Procurement Contract for NEUMUNE(R) as a Treatment for Acute Radiation Syndrome
Thursday February 1, 7:00 am ET
SAN DIEGO--(BUSINESS WIRE)--Hollis-Eden Pharmaceuticals, Inc. (Nasdaq:HEPH - News) today provided an update on its progress in negotiations with the Department of Health and Human Services (HHS) on a potential BioShield procurement contract for NEUMUNE®, the Company's lead drug candidate for Acute Radiation Syndrome (ARS). On January 31, 2007, Hollis-Eden received notice from HHS that the agency is still in the process of evaluating the Company's revised proposal and that, in order to allow the government the time needed to complete its evaluation, HHS has revised its estimated planned contract award date to March 7, 2007.
That's true. I always wondered about shipping the rig overseas but thought they must have a really good prospect to make it worth it. They acquired 50% interest with Carpathian Energy Companie Petroliera, SRL in the Calinesti Field Southwest of Bucharest, Romania which encompasses approximately 189,000 acres (cut from PR).
Didn't they also have a second rig? I may be remembering that wrong. I haven't gone back yet to check previous PR's.
I have wondered about the Romania rig. I thought it might be our best bet for immediate revenue. I haven't heard anything since it got to New Orleans was being refitted. I like the offshore stuff but that might take awhile to get everything together.
I am glad I am in Arizona. It is 53F right now, which is too cold...lol
I am from West Texas and I know all about the wind. It never stopped blowing. You learn to play golf hitting the ball low. When you hit a worm burner in West Texas the other players say great shot, in Arizona they just laugh at you.
It is good news but it is information only news. They are not expecting any production from the new leases until 2008 as stated in the PR. We would like to hear about production with the current leases.
That is kind of what I was leaning towards, lol. I am glad that they seem to be getting good people and apparently they are able to pay pretty well, at least compared to a state university employee. I do believe that they are building a good team. I would still like to see some production numbers soon.
Showed up on Yahoo News at 11:59am. I was going to copy it here and got busy and didn't. I wasn't sure how to respond to it.
I don't think so but I am waiting for someone else to try it first and let me know.
Thats what my daddy used to tell me...lololol
I may do that later...depending on the results of the ocular inspection.
I just recently picked up a new
issue of Playboy and I am currently in the process of doing an ocular inspection....
YES, it would, I keep waiting for that. eom
IW, I think you are probably right in your post. I have never thought that BIGN was not legitimate but do sometimes worry about them being able to complete the LOI. If they fail it won't be from lack of trying or because of fraud.
The one thing that keeps me being a long is that I know from experience working on the fringes of the oil business that everything seems to take forever, lol. I think we are close to a successful completion of the LOI and it will be well worth the wait.
I am stuck around .002 also. Fortunately, my position is small enough that it can go to zero and not hurt me. It is down so much now that it doesn't make sense to sell it. As I said earlier, I will just hang on and see what they do next, lol.
I hang on to my small position in PAIM because it is always interesting to see what they will do next. One of these days they may mess around and do something that will start another run on the PPS.
That makes sense. I just sent an email to Maximus/USSE mentioning NVMG, lol. You never know...
I agree completely. I never know how to take PR's such as this one. I think that overall it is positive but I am not sure exactly how.
IW, I always look forward to your take on things. I don't know if you are always right but your reasoning is always good and you certainly present possible scenarios. I do think you may be right on this one. It does make sense.
The heck with gold, I want to spend a couple of weeks in Hawaii!! lol
Am I reading this filing right, that upon conversion of those warrants we could have another 42m shares added to the 50m outstanding now. I assume these are for Cornell to do the WB Osborn deal.
According to the Ignis website we currently have 50m outstanding with 38%(19,000,000) float. At .32 that is a market cap of $16,000,000. The WB Osborn deal was supposed to be worth $18,000,000 so that would double the company size so I guess the outstanding shares will nearly double also.
Hollis-Eden Pharm upgraded by Rodman & Renshaw - Briefing.com
Hollis-Eden Pharmaceuticals Presents Data Demonstrating Discovery of an Endogenous Hormone Potentially Central to Glucose Metabolism
Tuesday January 16, 7:05 am ET
IND Filing for Derivative Compound, HE3286, in Type 2 Diabetes Anticipated in First Quarter of 2007
SAN DIEGO--(BUSINESS WIRE)--Hollis-Eden Pharmaceuticals, Inc. (NASDAQ:HEPH - News) today announced the presentation of preclinical data demonstrating that HE3286, a derivative of an endogenous hormone the Company believes is central to regulating glucose metabolism, produced glucose lowering activity and increased insulin sensitivity in preclinical models of type 2 diabetes. Findings suggest HE3286, an oral synthetic hormone, acts through a new mechanism of action and represents a potentially new class of insulin sensitizers for the treatment of type 2 diabetes. The data are being presented at the Diabetes: Molecular Genetics, Signaling Pathways and Integrated Physiology Conference, sponsored by Keystone Symposia, January 14-19, 2007, in Keystone, Colorado.
These findings represent years of scientific discoveries, research and development by Hollis-Eden scientists in a pharmaceutical development program targeting metabolism. Studies in rats fed with a diet containing the parent hormone of HE3286 showed a reduction in the expression levels of certain genes encoding key enzymes involved in glucose and cortisol metabolism (e.g. PEPCK or 11beta-HSD1), an effect which should lessen the severity or impact of type 2 diabetes or insulin resistance. This indicates that this hormone is potentially central to glucose metabolism. Through the application of medicinal chemistry, the Company has extended the innate properties of that hormone into a more pharmaceutically suitable compound, HE3286, for the treatment of type 2 diabetes. Data presented include:
* When administered orally to genetically obese mice prone to diabetes (db/db model), HE3286, after 10 days, significantly (p less than 0.02) suppressed the progression of hyperglycemia typically observed in these animals.
* In an animal model of diet-induced insulin resistance produced by feeding mice with a fat-enriched diet, HE3286 significantly (p less than 0.01) improved glucose handling in an oral glucose tolerance test (OGTT) when compared to the control group and at the end of the study was superior (p less than 0.003) to the active control (rosiglitazone). In addition, HE3286 demonstrated a statistically significant (p less than 0.006) reduction in fasting glucose values when compared to controls at days 14 and 29 of the study, and the activity was similar to the active control (rosiglitazone) (p less than 0.05).
* Additional evidence of improvement in glucose disposal by HE3286 comes from a hyperinsulinemic/euglycemic clamp study, widely acknowledged as the "gold standard" model to measure insulin sensitivity in vivo. In this study, administration of HE3286 to diabetic db/db mice for 14 days markedly increased the glucose infusion rate (GIR) required to maintain normal levels of blood glucose following an intravenous infusion of a high dose of insulin. The GIR is a key parameter used to determine the degree of insulin sensitivity in vivo, and its increase following treatment with HE3286 indicates that this compound acts physiologically as an insulin sensitizer in the diabetic state.
In parallel experiments designed to understand the possible mechanism of action of HE3286 to produce these metabolic effects, it was found that HE3286 regulates the pro-inflammatory NF-kappaB pathway in cultured mouse macrophages or human monocytes. The Company believes this is an important finding because over the last several years reports in the scientific literature suggest that chronic activation of inflammatory pathways such as NF-kappaB can also lead to insulin resistance and may play a role in the progression towards type 2 diabetes. The January 2007 issue of Diabetologia includes a new study regarding this pathway, which concludes that moderate inhibition of NF-kappaB improves glucose tolerance in animals and is a suitable therapeutic target for the treatment of type 2 diabetes.
Diabetes is a disease in which the body does not produce adequate quantities of, or properly use, insulin. Insulin is a hormone needed to carry glucose from the blood into cells, where it is converted to energy the cells need to perform properly. When insulin is not present in sufficient quantity or does not function correctly, the result is high levels of glucose in the blood. Over time, chronically elevated blood glucose can lead to a host of severe medical conditions.
There are several pharmaceutical approaches to treating type 2 diabetes. These include drugs designed to increase insulin production by the pancreas, drugs designed to reduce glucose production by the liver and drugs designed to increase the body's sensitivity to insulin, thereby improving glucose disposal from the bloodstream. Frequently clinicians will combine drugs from these different approaches in an effort to achieve appropriate glucose control.
The only currently approved anti-diabetic agents that are known to act as insulin sensitizers are the glitazone class of drugs, which collectively represent 48% of the annual sales in the $12 billion per year global oral anti-diabetic market. Glitazones appear to act primarily through the activation of nuclear hormone receptor, PPARgamma. While these agents can lower blood glucose, they have been associated with undesirable side effects such as weight gain.. In contrast, preclinical studies with HE3286 indicate that it does not act on the PPARgamma receptor and does not have the undesirable effect of weight gain seen with the glitazone class. Therefore, these preclinical studies suggest that HE3286 may represent the first of a new class of insulin sensitizing agents that can be used in controlling type 2 diabetes.
The need for new classes of agents such as HE3286 to treat type 2 diabetes is clear. There are approximately 20 million Americans with type 2 diabetes and over 160 million type 2 diabetics worldwide. These figures are increasing rapidly as a result of the aging population and the rising incidence of obesity, which is a common risk factor for the disease. Clinical data indicates only 36% of type 2 diabetics are currently able to achieve the American Diabetes Association maximum recommended HbA1c glucose level of 7.0. Large clinical studies have shown that failure to achieve these glucose targets can progressively lead to severe health consequences including neuropathy, blindness, amputation, heart attack, stroke and death.
"The results presented at this meeting build on an impressive body of data indicating HE3286 may bring type 2 diabetes back under hormonal control, thereby playing an important role in treating and managing type 2 diabetes," stated Jaime Flores-Riveros, Ph.D., Vice President, Endocrinology and Metabolism at Hollis-Eden Pharmaceuticals, Inc. "Given the dire consequences associated with lack of glucose control and the limited benefit of existing agents, clinicians we have spoken with are eager to begin testing HE3286. The combination of a potentially new mechanism of action and an attractive safety profile makes this compound potentially useful either alone or in combination with existing alternatives."
HE3286 is a synthetic derivative of an endogenous hormone that produces numerous physiological actions. These include effects on immune function, bone metabolism, the cardiovascular system and metabolic function. The basic features of the biosynthesis, biotransformation and disposition of this parent hormone have only recently been described in the scientific literature. The recent body of knowledge developed around this parent hormone provides a rich opportunity for further understanding that could lead to the introduction of a new class of pharmaceutical candidates, such as HE3286. As with other hormones in the androstene series, their pharmacological actions reflect extensions of their physiological activities. To date, observations from preclinical studies suggest potential therapeutic benefit from HE3286 in rheumatoid arthritis, inflammatory diseases of the lung and type 2 diabetes.
HE3286 has demonstrated good oral bioavailability in primates. In addition, preliminary results of GLP toxicology studies indicate the compound is well tolerated. Based on these findings, Hollis-Eden plans to file an Investigational New Drug application (IND) for HE3286 for the treatment of type 2 diabetes with the U.S. Food & Drug Administration (FDA) in the first quarter of 2007.
"It is well documented in the scientific literature that hormones play a key role in metabolism, especially as we age," stated Richard Hollis, Chairman and CEO of Hollis-Eden Pharmaceuticals, Inc. "The challenge has always been in discovering the key hormones involved in the regulation of these metabolic pathways and then designing safe and effective stable synthetic hormones that can be used as therapies to regulate those pathways to treat a disease or condition. This data with HE3286 is exciting because it demonstrates that we have made those discoveries leading to a potential breakthrough treatment with a new class of hormones to control glucose metabolism in type 2 diabetes. Having garnered such positive results in a variety of the traditional preclinical models for type 2 diabetes, combined with a good safety profile of the compound to date, gives us confidence as we enter HE3286 into clinical trials this year.
"Furthermore, we have discovered and designed several other drug candidates from our hormonal signaling technology platform that we believe are analogs of hormones that are fundamental to our human hormonal network necessary to maintain optimal health. We are rapidly closing in on defining their natural signaling pathways and their chemical and biological functions in maintaining human health. Our class of steroid hormones has been associated, since their first discovery in the body back in the 1930s, with several diseases related to hormonal imbalances and the aging process itself. However, scientists never fully understood their role in the body or their metabolic profiles. We believe, as the world leaders in developing these adrenal steroids, that our discoveries will for the first time allow these compounds to be converted into pharmaceuticals. These products would represent a renaissance in the use of steroid hormones as biochemical signaling molecules to regulate inflammation, immunity and cellular function in the body lost to disease and in the aging process itself."
About Hollis-Eden
Hollis-Eden Pharmaceuticals, Inc. is developing a proprietary new class of small molecule compounds that are metabolites or synthetic analogs of adrenal steroid hormones. These compounds, designed to restore the biological activity of cellular signaling pathways disrupted by disease and aging, have been demonstrated in humans to possess several properties with potential therapeutic benefit - they regulate innate and adaptive immunity, reduce nonproductive inflammation and stimulate cell proliferation. The Company's lead product candidate, NEUMUNE® (HE2100), is entering late-stage development for the treatment of Acute Radiation Syndrome (ARS), a life-threatening condition resulting from exposure to high levels of radiation following a nuclear or radiological incident, and is being explored for use in combating healthcare-associated infections. Hollis-Eden also is profiling optimized second-generation compounds for potential clinical development in a broad spectrum of therapeutic categories including hematology, metabolic disorders, autoimmune disorders, pulmonary diseases, oncology and infectious diseases. Certain patents related to NEUMUNE are licensed to Hollis-Eden by Roger Loria Ph.D., a professor of microbiology and immunology at Virginia Commonwealth University. For more information on Hollis-Eden, visit the Company's website at www.holliseden.com.
This press release contains forward-looking statements within the meaning of the federal securities laws concerning, among other things, the potential and prospects of the Company's drug discovery program and its drug candidates. Any statement included in this press release that are not a description of historical facts are forward-looking statements that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause the Company's actual results to differ materially from historical results or those expressed or implied by such forward-looking statements. Such statements are subject to certain risks and uncertainties inherent in the Company's business, including, but not limited to: the ability to complete preclinical and clinical trials successfully and within specified timelines, if at all; the ability to obtain regulatory approval for NEUMUNE under the U.S. Food and Drug Administration Animal Efficacy Rule, even if shown to be effective in preclinical studies; the ability to receive any stockpiling orders for NEUMUNE from the U.S. federal, state and foreign governments or agencies, even if approved by regulatory authorities; the Company's future capital needs; the Company's ability to obtain additional funding; the ability of the Company to protect its intellectual property rights and to not infringe the intellectual property rights of others; the development of competitive products by other companies; and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, the Company undertakes no obligation to update or revise the information contained in this press release as a result of new information, future events or circumstances arising after the date of this press release.
Contact:
Hollis-Eden Pharmaceuticals
Dan Burgess, Chief Operating Officer and CFO
Scott Rieger, Director, Corporate Communications
858-587-9333
Source: Hollis-Eden Pharmaceuticals, Inc.
I'm in and out here on a saturday afternoon. I would like to hear some nice new developments.
I hope you're right. I have been in it close to a year maybe a little over. My first buy was at 1.07 but I have now averaged down to under 50 cents. I feel like they are making progress and I have always felt like it might be a sleeper.
I don't have very many shares either. I first bought this a year ago and recently averaged down. We are still not up to my average price but it is getting much closer.
I also feel like someone knows something. They have several things going and it could be any one of them. They are up a dime today.
No, I have been watching this for awhile. It has gone up over .10 in the last couple of weeks. I have been all over their web site looking for clues. Today's volume is already almost twice the 10 day avg. I hope it means that the WB Osborn deal is starting to generate income.
I changed my mind..it's time to give the cowbell to the rally monkey and let him beat the BOD!
I've had my Brinks truck sitting in my driveway for nearly a year now. I hope this thing takes of soon because the neighbors are starting to complain.
maybe it's time to beat the rally monkey with the cowbell..lol
Good reply. I thought that was understood by all from the beginning but apparently not. They do need to start generating income as soon as possible and then grow the company from that.
You were right when you said it would reach .05 so I believe you now...lol.
I have a friend that sounds just like rb100. He is always saying that there have been volcanoes, fires caused by lightning, and other natural disasters for millions of years and nature has always taken care of any problems. And I say, “I absolutely agree.” The problem now is that we still have the same natural disasters but in addition we now have millions of cars spewing exhaust and millions of factories spewing exhaust adding to the work that nature has to do while at the same time we are slowly removing our rain forests and other green-lands that are needed to restore that balance.
How can anybody fly in to LA and not see pollution as a problem, or any other major city for that matter. I have been to Kathmandu, Darjeeling, Nairobi, Cairo and several other foreign cities where the pollution is so bad you can literally taste it. When is nature going to clean that up? I’m afraid it will be long after man has gone! The human race is shortsighted and we may soon pay for it. Unfortunately there are many blind people like rb100 out there and our only hope is that maybe with time we can show enough of them the ignorance of there ways and then we may be able to stop the downward slide. Until then, it’s only going to get worse.
Yes, I did that before and there is a fair amount of 3rd party info. I will look again, but I was really looking for a Eurowest website and I have never found one. I would like to see what the panels look like and how they go together. I would like to see what the price/sq ft is to build a panel home.
I wonder that too. I sure hope it generates revenue for NVMG but they have never given any details on their housing agreement. I have never been able to find anything on Eurowest Panel Homes.
Didn't the PR concerning ONYI say the SPC dividend wouldn't happen until after the conclusion of the ONYI deal?
NAEG Receives Invitation From Oglala Lakota Nation
Monday January 8, 9:30 am ET
FOREST HILLS, N.Y.--(BUSINESS WIRE)--Native American Energy Group, Inc. (the "Company" or "NAEG") (OTC Pink Sheets: NVMG - News), today announced that it has been very graciously extended an enthusiastic invitation to present an outline and plan of action to address the drastic housing shortage on the Oglala Lakota Nation by construction of energy-efficient housing communities on their Reservation. Eileen Janis, Vice President of the Executive Board & Director of the Oglala Lakota Nation Housing Committee personally extended the invitation following extensive talks with NAEG management. The meeting is scheduled for February 6, 2007 in Pine Ridge, South Dakota.
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CEO, Joseph D'Arrigo stated, "NAEG, of course, comes equipped with the license it was recently granted and the technology to build safe, decent, affordable, energy-efficient homes on all federally recognized U.S. Indian reservations through its joint-initiative with homebuilder, Eurowest Panel Homes Ltd."
"We use, and encourage the use of non-renewable resources, wherever possible, on the reservations such as oil & gas to fund renewable energy systems that will provide energy and revenues for generations to come. It is this approach to energy development in Indian Country that has led to the overwhelming support for our Company from both U.S. and International Organizations dedicated to economic development and politicians on both the state and federal levels," stated D'Arrigo.
Of all the reservations in the Dakotas, Pine Ridge is the one most noted on the National level. It is the second-largest Native American Reservation within the United States, home to approximately 40,000 persons. Unfortunately, according to Oglala Lakota Vice President Eileen Janis, there is a desperate need for at least 1200 houses and an extensive waiting list of as many as 15,000 enrolled tribal members waiting to return to the reservation. The following link to "Life and Conditions on the Pine Ridge Oglala Lakota (Sioux) Reservation of South Dakota" is provided for a more complete reference:
http://www.linkcenterfoundation.org/id24.html
The statistics and demographics below are from this report and give an idea of how life is on the reservation. As well, it paints a picture of the potential for housing, energy, etc. for Native American Energy Group.
Housing Conditions and Homelessness
* The small BIA/Tribal Housing Authority homes on the Pine Ridge Reservation are overcrowded and scarce, resulting in many homeless families who often use tents or cars for shelter. Many families live in old cabins or dilapidated mobile homes and trailers.
* The report also states that 26% of the housing units on the Reservation are mobile homes, often purchased or obtained (through donations) as used, low-value units with negative-value equity.
* In a recent case study, the Tribal Council estimated a need for at least 4,000 new homes in order to combat the homeless situation.
* There is an estimated average of 17 people living in each family home (a home which may only have two to three rooms). Some larger homes, built for 6 to 8 people, have up to 30 people living in them.
* Over-all, 59% of the Reservation homes are substandard.
* Over 33% of the Reservation homes lack basic water and sewage systems as well as electricity.
* Without basic insulation or central heating in their homes, many residents on the Pine Ridge Reservation use their ovens to heat their homes.
* Many Reservation homes lack adequate insulation. Even more homes lack central heating.
* It is reported that at least 60% of the homes on the Pine Ridge Reservation need to be burned to the ground and replaced with new housing due to infestation of the potentially-fatal Black Mold, Stachybotrys. There is no insurance or government program to assist families in replacing their homes.
* 39% of the homes on the Pine Ridge Reservation have no electricity.
Raj Nanvaan, Chief Financial Officer of Native American Energy Group wished to make the following statement:
"Over the course of the last 6 years, Native American Energy Group and its founders have visited many reservations across the United States and it is living conditions such as these that have contributed to our ideology of assisting Native American tribes with their energy needs, and to help them to obtain a state of independence. Native Americans are the second largest landowners in the U.S. after the Federal Government. If we help them develop their economy and satisfy their real needs like housing and health care, this is what promotes a trustworthy and prosperous relationship between our Company and the tribal communities, nationwide, and sets the foundation for further energy development in the U.S., such as Oil & Gas, and the implementation of renewable energy systems such as Wind, Solar and Geothermal Energy. The energy created from such systems can provide energy to the reservations, and the excess energy can be sold to the local utility, thus creating additional revenue for the tribes and Native American Energy Group."
NAEG's previous achievements can be accessed on the Investor Relations page: http://www.nativeamericanenergy.com/investorrelations.htm
Safe Harbor Statement: This News Release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and section 21E of the United States Securities & Exchange Act of 1934, as amended, with respect to corporate objectives, projections, estimates, operations, acquisition and development of various interests and certain other matters. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein.
Contact:
Native American Energy Group, Inc.
Richard Ross, 800-780-8076
ir@nativeamericanenergy.com
http://www.nativeamericanenergy.com
Source: Native American Energy Group, Inc.
I expect one every week...lol eom