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Balance Sheet
Total Cash (mrq): 221.48K
Total Cash Per Share (mrq): 0
Total Debt (mrq): 0
Total Debt/Equity (mrq): N/A
Current Ratio (mrq): 1.501
Book Value Per Share (mrq): 0.043
Cash Flow Statement
Operating Cash Flow (ttm): -48.03K
Levered Free Cash Flow (ttm): -165.49K
Income Statement
Revenue (ttm): 374.46K
Revenue Per Share (ttm): 0
Qtrly Revenue Growth (yoy): -32.30%
Gross Profit (ttm): N/A
EBITDA (ttm): -184.91K
Net Income Avl to Common (ttm): -521.99K
Diluted EPS (ttm): -0.001
Qtrly Earnings Growth (yoy): N/A
Profitability
Profit Margin (ttm): -139.40%
Operating Margin (ttm): -56.41%
Management Effectiveness
Return on Assets (ttm): -0.31%
Return on Equity (ttm): -1.45%
Fiscal Year
Fiscal Year Ends: 31-Dec
Most Recent Quarter (mrq): 31-Mar-08
Market Cap (intraday)5: 1.44M
Enterprise Value (22-Jun-08)3: N/A
Trailing P/E (ttm, intraday): N/A
Forward P/E (fye 31-Dec-09) 1: N/A
PEG Ratio (5 yr expected): N/A
Price/Sales (ttm): 3.16
Price/Book (mrq): 0.03
Enterprise Value/Revenue (ttm)3: NaN
Enterprise Value/EBITDA (ttm)3: N/A
Short % Increase 2191.91 %
http://shortsqueeze.com/?symbol=pgpm&submit=Short+Quote
THEY ARE GOING TO POP THIS TO MARS
Pilgrim Petroleum Report on Economic and Potential Recoverable Assessment in Archer and Wichita County Interests
Tuesday May 20, 12:58 pm ET
DALLAS, TX--(MARKET WIRE)--May 20, 2008 -- Pilgrim Petroleum Corporation (Other OTC:PGPM.PK - News) (Frankfurt:PHV.F - News) is pleased to announce that the company's Assessment on its interests in Archer and Wichita Counties Texas, prepared by Gustavson Associates, can be found at http://www.bpetroleum.com. The report has an effective date of September 15, 2006, and evaluates Pilgrim Petroleum acreage located on the Bend Arch-Fort Worth Basin Province, Texas.
The report was prepared using assumptions and methodology guidelines outlined in the Canadian Oil and Gas Evaluation Handbook ("COGE Handbook") and in accordance with National Instrument 51-101 ("NI 51-101"). Additionally, Gustavson Associates conducted a scoping economic analysis of the Prospect using the "Best Estimate" for both an oil and gas future net revenues (before deductions of income taxes).
Specifically, the report provides the following highlights:
Low Estimate 996 MBbl 3.98 BCF
Best Estimate 1,832 MBbl 7.32 BCF
High Estimate 2,676 MBbl 10.70 BCF
ECONOMIC EVALUATION
Pilgrim also requested Gustavson Associates to complete economic runs with the estimated prospective resources and similar production profiles. This study will show estimate development schedules for Pilgrim's acreage and generate a forecast of future net revenues and discounted cash flow.
The following estimates are based on the best estimate of the prospective hydrocarbon resources. The initial net prices, for the purpose of the analysis are: $59.95 per barrel for the oil case and $4.97 per MCF for the gas case and include deductions for estimated future well abandonment costs.
Best Estimate Net Best Estimate Net Present
Revenue Before Income Tax Value of Future Net Revenues
(at 10% discount rate)
$102,370,000 $52,050,000
Pilgrim Petroleum Signs LOI for Cowan Project With Frontier Energy
Thursday May 29, 11:37 am ET
DALLAS, TX--(MARKET WIRE)--May 29, 2008 -- Pilgrim Petroleum Corporation (Other OTC:PGPM.PK - News) (Frankfurt:PHV.F - News) today announced they signed a Letter of Intent ("LOI") with Frontier Energy (Other OTC:FRGY.PK - News) to purchase 100% Working Interest and 40% royalty interest in Cowan Project located in Archer County, Texas, from Pilgrim Petroleum, the property is situated along the eastern edge of the West (KMA) field, which has produced millions of barrels of oil from the KMA sand at 4,200' since the 1940s.
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The transaction will be subject to American Petroleum Corp. reservation of 1/8 Overriding royalty. The company will be the operator and the drilling contractor for the exploration of two new wells and few workover on the property.
The Letter of Intent includes provisions whereby the two parties will use their best efforts to move forward to execute and deliver a definitive purchase & sale agreement within few days. Additional information will be forthcoming as it becomes available.
Pilgrim Petroleum Announces Projected EPS for 2008
Monday May 12, 7:45 am ET
DALLAS, TX--(MARKET WIRE)--May 12, 2008 -- Pilgrim Petroleum Corporation (Other OTC:PGPM.PK - News) (Frankfurt:PHV.F - News) announced today the company's year 2008 projected EPS (Net Earnings / Outstanding Shares) $50,000,000/844,236,923 of 0.06. Based on this EPS multiplied by a sustainable growth rate of 25% and multiplied by the average industry P/E ratio of 20.96 (Reuters), Pilgrim's intrinsic value or estimated stock value should be $0.3103.
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Pilgrim Petroleum's prime properties are mainly located in the North West Texas, owning approximately 12,000 acre properties, which hosts resources with a best estimate P50 (*) of 4 millions of barrels of oil equivalent, definitions according to "Petroleum Classification and Definitions" (2000) published in draft by the Society of Petroleum Engineers (SPE) and World Petroleum Congress. The already on-going next phase is to strategize with its Partners and alliances for new drilling activities in its leasehold position for further categorization of reserves, including development and production status (proved, probable and possible).
Pilgrim Petroleum management is currently focused on developing multiple horizons with hydrocarbon potential and is proud to communicate that the company's combined assets are now producing in an upward trend and new acquisitions for further hydrocarbon development under consideration.
Rafael Pinedo, President
Pilgrim Petroleum Announces Progress Update, Forecast Results for Q2 and New Appointment
IRVING, TX--(MARKET WIRE)--Jun 19, 2008 -- Pilgrim Petroleum Corporation (Other OTC:PGPM.PK - News) (Frankfurt:PHV.F - News) is pleased to announce the company will report results for the second quarter ended June 30, 2008 in the third week of July. With great positive outlook, Pilgrim's management expects Q2 results to maintain its overall growth pace of at least 10% in production. After completion of two additional re-activated wells during the first quarter 2008. The company has set a goal of having field services to work in additional 5 wells by the end of July. In addition the board of the directors is currently reviewing different dividend options for holders of common stock. Also, the company approved Mr. Randy Berry as manager of field services and acting Vice president of operations. Mr. Berry is a veteran with over twenty-five years of field services experience; he has been with the company four years. Lastly, Pilgrim will put in motion a series of initiatives to revitalize the Company and stock value. These initiatives, designed to enhance the efficiency of the organizational structure including new joint ventures, mergers and acquisitions, will support a better-disciplined business development process, increase operating margins and improve the Company's production levels, reservoirs and cost-effectiveness.
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Rafael Pinedo, President and CEO of Pilgrim Petroleum Corporation, commented, "With great people and equipment, Pilgrim's operations will continue to bring back more inactive wells into production and optimize our existing oil & gas production through increased production rates, reduced costs, and improved recovery techniques."
That is all I can find. Nothing new.
AbsoluteSKY Sales Advance 300 Percent in Quarter
Wednesday March 26, 10:00 am ET
MONTREAL, March 26, 2008 (PRIME NEWSWIRE) -- AbsoluteSKY, Inc. (Other OTC:ABSY.PK - News), developer of the item-level intelliTRACKER(tm) Inventory Tracking solution, announced today that it will end the quarter with a 300% increase in revenue over the previous quarter attesting to continued traction as the business progresses into its commercial phase. The Company successfully delivered a large portion of the order backlog from its previous quarter. Delivery and installations are progressing flawlessly as the Company ramps up sales.
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The Company also reported that, buoyed by strong on-site performance with early adopters, the sales funnel is replete with substantial business opportunities for the coming two-year planning period. Overall, market response to the intelliTRACKER(tm) Product Suite among leading retailers remains very promising in light of the very attractive return on investment and substantial efficiency gains produced by the system. Additional contracts are expected to be announced over the short term.
About AbsoluteSKY, Inc.
AbsoluteSKY, Inc. (Other
MONTREAL, April 10, 2008 (PRIME NEWSWIRE) -- AbsoluteSKY, Inc. (Other OTC:ABSY.PK - News), developer of the item-level intelliTRACKER(tm) Inventory Tracking solution, recently announced serious intentions from national retailers to adopt the technology and to immediately proceed with initial installations next month. Every indication points to a national roll-out with potential contracts exceeding $25 Million. This is in addition to several other large prospects which are unfolding. The Company expects to be able to announce specifics later this quarter.
About AbsoluteSKY, Inc.
AbsoluteSKY, Inc. (Other OTC:ABSY.PK - News) specializes in the design, development and implementation of new-generation Radio Frequency IDentification (RFID) based technology solutions that provide real-time item-level inventory tracking for retail customers. Based in Montreal, Canada, the company's business model combines strategic, creative and technical skills to deliver solutions that help its clients achieve their business objectives through the use of AbsoluteSKY's breakthrough technology and extensive knowledge of their business operations. For more information visit: http://www.absolutesky.ca.
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AbsoluteSKY's Safe Harbor Statement
Retail interest for AbsoluteSKY's Solution Surpasses $65 Million
MONTREAL, May 7, 2008 (PRIME NEWSWIRE) -- AbsoluteSKY, Inc. (Other OTC:ABSY.PK - News), developer of the real-time, item-level intelliTRACKER(tm) Inventory Tracking solution, provided an update today regarding the growth of its sales funnel. Through the NRF show in New York this past January and several subsequent customer/partner events, momentum behind the sales effort has intensified dramatically as anticipated. Given solid in-store performance and the positive results of Proof-of-Concept phases conducted with a range of clients, several large National retailers are moving ahead to formalize their interest in proceeding to the next step towards adopting the solution, propelling the value of the sales funnel beyond $65 million.
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The Company added that the list of qualified sales opportunities derives from a diverse customer base that spreads from specialty retail chains to department stores, all of whom have notably demonstrated industry leadership in adopting new technologies. They are particularly drawn to the exceptional ROI and short payback which is largely the result of substantial cost savings.
The Company is anxious to be in a position to announce specifics later this quarter.
About AbsoluteSKY, Inc.
Mortgage application volume declines as rates rise
Mortgage application volume falls during week ended June 13 as interest rates rise sharply
WASHINGTON (AP) -- Mortgage application volume fell 8.7 percent during the week ended June 13, according to the Mortgage Bankers Association's weekly application survey.
The MBA's mortgage application index fell to 508.4 during the week, from 557.1 the previous week.
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Refinance application volume tumbled 15 percent, while purchase activity declined 4.3 percent during the week. Refinance applications accounted for 37.4 percent of all applications -- the lowest level all year.
The index peaked at 1,856.7 during the week ending May 30, 2003, at the height of the housing boom.
An index value of 100 is equal to the application volume on March 16, 1990, the first week the MBA tracked application volume. A reading of 508.4 means mortgage application activity is 5.084 times higher than it was when the MBA began tracking the data.
The survey provides a snapshot of mortgage lending activity among mortgage bankers, commercial banks and thrifts. It covers about 50 percent of all residential retail mortgage originations each week.
Application volume declined as interest rates rose. The average rate for traditional, 30-year fixed-rate mortgages rose to 6.57 percent during the week ended June 13, from 6.24 percent the previous week.
Rates for 15-year fixed-rate mortgages, a popular option for refinancing a home, rose to 6.14 percent from 5.78 percent.
The average rate for one-year adjustable-rate mortgages jumped to 7.22 percent from 6.87 percent.
UBS Americas tech bankers join Centerview - paper
NEW YORK, June 18 (Reuters) - The co-heads of UBS AG's (UBSN.VX: Quote, Profile, Research, Stock Buzz) technology banking business in the Americas will depart the bank to join the boutique investment bank Centerview Partners, the Wall Street Journal reported on Wednesday.
The moves by David Handler, 43, and David St. Jean, 47, are the latest in a string of departures from the Swiss bank, including that of Ken Moelis, the newspaper reported in its online addition.
The Americas technology banking group brought in about $100 million in revenue for UBS last year, the newspaper said, citing a person familiar with its operations.
Handler and St. Jean joined UBS from Bear Stearns, where they advised on deals including Cisco Systems Inc's (CSCO.O: Quote, Profile, Research, Stock Buzz) $6.9 billion purchase of Scientific-Atlanta Inc in 2006.
While at UBS, the bankers worked with Huawei Technologies Co [HWT.UL] on the sale of its stake in a joint venture with 3Com Corp (COMS.O: Quote, Profile, Research, Stock Buzz). (Reporting by Matt Daily; Editing by Quentin Bryar)
MAJOR DIRECT HOLDERS (FORMS 3 & 4)
Holder Shares Reported
GREENWALD EDWARD KENNETH 3,198,000 26-Dec-07
SLOWINSKI DONALD J N/A 27-Jun-06
KANELY JAMES R 180,000 21-Aug-07
DUNAWAY MARK H 161,825 16-Oct-07
NEWMARK L AMY 151,500 5-Nov-07
Jaco Electronics Named North American Distributor of Jaro Thermal High Performance Line of Fans
HAUPPAUGE, N.Y. & BOCA RATON, Fla.--(BUSINESS WIRE)--Jaco Electronics, Inc. (Nasdaq: JACO - News), a global distributor and integrator of electronic components and customized flat panel display solutions (FPD), and a provider of value-added logistics services, today announced that it has been appointed distributor to North America of Jaro Thermal’s (www.jarothermal.com) full line of products, including Jaro’s popular Super-Flow Turbo©, Aquas™ water-resistant fans, and tiny Super Micro 15x4mm fans for handheld applications.
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“We look forward to further developing our relationship with Jaco Electronics and their highly experienced North American distribution team,” stated Dennis Eisen, Jaro’s Vice President of Sales and Marketing. “Jaco represents an excellent partner to assist us in our efforts of expanding the reach of Jaro’s high performance line of fans.”
Jaco Chairman and Chief Executive Officer Joel Girsky, stated, “Jaco’s continued focus on new technologies is a key component in our ability to provide cutting-edge, value-added solutions and services to our global clients. Jaro Thermal is the worldwide leader in the development, production, and marketing of thermal fan technology, placing them at the forefront of the growing cooling revolution. We are very excited to have been appointed as their North American distributor and look forward to working together with their organization.”
CytRx Corporation to Present at the Jefferies 2nd Annual Healthcare Conference
LOS ANGELES--(BUSINESS WIRE)--CytRx Corporation (Nasdaq: CYTR - News), a biopharmaceutical company engaged in the development and commercialization of human therapeutics, today announced that Steven A. Kriegsman, President and Chief Executive Officer, will be presenting at the Jefferies 2nd Annual Healthcare Conference on Thursday, June 26, 2008, at 11:15 a.m. EDT (8:15 a.m. PDT) in New York City.
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The presentation will include information about CytRx’s pipeline and its planned acquisition of Innovive Pharmaceuticals.
An audio Webcast of the presentation will be available at www.wsw.com/webcast/jeff26/cytr as well as through the Company’s Web site at www.cytrx.com, where a replay will also be available for 90 days following the conference.
About CytRx Corporation
CytRx Corporation is a biopharmaceutical research and development company engaged in the development of high-value human therapeutics. The Company has three clinical-stage development programs based on its small-molecule “molecular chaperone” co-induction technology. CytRx owns and operates a research and development facility in San Diego. The Company has also recently signed a definitive agreement to acquire Innovive Pharmaceuticals, Inc., a biopharmaceutical company with a pipeline of attractive oncology therapeutic drug candidates. CytRx also maintains a 49 percent equity interest in RXi Pharmaceuticals (Nasdaq: RXII - News). For more information on the Company, visit www.cytrx.com
BIO-key(R) and Tiger IT Bangladesh Voter Registration Project Nearing Completion
Solution Prevents Duplicate Registrations and Issues Voter Rolls and National
ID Cards
WALL, N.J. and DHAKA, Bangladesh, June 17 /PRNewswire-FirstCall/ -- BIO-key International, Inc. (OTC Bulletin Board: BKYI - News), a leader in finger- based biometric identification and wireless public safety, and Tiger IT BD Ltd. (Tiger IT), a leader in both prepackaged and customized software solutions, today announced that their deployment of a biometric-based credentialing solution for the Bangladesh Voter Registration Project is scheduled to conclude at the end of this month. This exclusive contract was implemented in 2007, in order to prepare voter lists and issue national ID cards, in preparation for Bangladesh's general elections to be held in December of 2008.
To date, the solution has successfully registered and issued national ID cards for more than 75 million people and was the basis for the creation of local voter lists for the upcoming election. The registration process takes no more than six minutes and incorporates scheduled appointment times to enroll each citizen's biometric information. The enrollment data includes four fingerprints, captured with BIO-key's fingerprint ID software and FBI- certified fingerprint readers. BIO-key's WEB-key development platform was utilized to detect duplicate registrations. Additionally, the solution employed 500 ID management servers developed by Tiger IT and over 8,000 laptop computers equipped with Tiger IT enrollment software. The biometric enrollment process has generated more than 300 million ISO fingerprint templates, making it the largest biometric deployment ever recorded.
"Tiger IT, BIO-key and Cognitec, in fulfilling their technical promises, have demonstrated they can ensure high quality enrollment data by deploying a powerful identity management solution that delivers accurate, high-speed alias detection on a large scale," commented Major General Shafiq, Military Secretary of the Bangladesh Army, which is co-managing the project with the Bangladesh Elections Commission.
"Tiger IT's implementation of WEB-key® continues to perform above expectations. Operating at more than one million matches per second on a single processor, it accurately identified duplicate registrations," said Ziaur Rahman, Managing Director of Tiger IT. "This performance, combined with the outstanding methodology developed by the Bangladesh Army to collect and process the data, provided a solid foundation to enable the nationwide registration to be completed by August of 2008."
A survey of the registration process, funded by the United Kingdom Department for International Development (DFID), was conducted earlier this year. "It is going to be a list of quality no less than that of America (USA) or England (UK)," concluded Dr. Mohammed Yusuf, one of the consultants for the survey.
Beyond establishing more accurate voter lists to help ensure a full and fair election, the ability to verify one's identity provides significant benefits in the course of each citizen's daily life. For example, the National ID card is used by citizens to access up to twenty-two different services managed or offered by the government. The National ID card also includes a standard barcode encoded with ISO fingerprint templates and PKI digital hash that can be used to quickly verify the identity of the cardholder while ensuring the integrity and authenticity of the ID card.
"BIO-key was proud to play an integral part in assisting Bangladesh to produce voter rolls and identity cards," stated Michael DePasquale, President and CEO of BIO-key. "The consistency and reliability of our VST and WEB-key platforms, including our Intelligent Image Indexing(TM) technology, have been instrumental in the deployment of this large scale national initiative to register voters and detect duplicates to ensure a free and fair election. With over 300 Million ISO fingerprint templates already generated, and 400 million projected to be generated, this is by far the largest biometric deployment in the world and another validation of the value of technologies that BIO-key has developed over the last ten years. Our ID platforms provide superior accuracy, speed and scalability while requiring minimal hardware infrastructure and are being evaluated for a host of additional projects around the world."
Deloitte and Cisco Enter Agreement to Enhance Business Process
Alliance Maps Network Intelligent Services to Business Processes to Help Improve Visibility, Control, and Responsiveness Across the Enterprise
NEW YORK, NY and SAN JOSE, CA--(MARKET WIRE)--Jun 18, 2008 -- Deloitte and Cisco (NasdaqGS:CSCO - News) today announced a collaborative initiative that combines the intelligence in Cisco's network platform with Deloitte's broad array of business process and technology consulting capabilities. Deloitte and Cisco have entered into a go-to-market agreement focused on developing service offerings that take advantage of the intelligence of the network to enhance business processes. The Deloitte and Cisco collaboration will map business processes to network intelligent services, such as communication and collaboration, user identification, and wireless location detection, so businesses can achieve more visibility, control, and responsiveness across the enterprise while leveraging their existing business applications.
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The go-to-market agreement between Cisco and Deloitte includes collaboration on service development, education, training, sales and delivery. Deloitte and Cisco will initially focus their efforts on the development and delivery of services aimed at risk, compliance and performance management challenges.
"Rapid response capability has increased dramatically with the heightened emphasis on risk management and the value of real-time information," said Lee Dittmar, a principal with Deloitte Consulting LLP "The speed and consequence of adverse events require capabilities that can be delivered only when network services in the enterprise architecture are fully utilized. We agree with Cisco that the network can be the backbone for IT communications, and an important element in enabling better risk, compliance and performance management."
"The ubiquitous nature of the network offers our customers the opportunity to capture intelligence from every aspect of their organization and to take advantage of that intelligence in the continued innovation of the business. This go-to-market agreement with Deloitte will focus on practical solutions that help our customers respond faster to operational and market dynamics having an immediate impact on their business decisions," said Robert Lloyd, senior vice president of U.S., Canada, and Japan for Cisco.
Deloitte and Cisco will also work together with SAP AG to combine Deloitte's broad array of consulting, advisory and implementation related services with Cisco's Network and Advanced Services in support of SAP® enterprise business solutions to help joint customers in their efforts to address their needs for governance risk and performance management.
10-Jun-08 Roth Capital Initiated Buy
Aastrom to Initiate Phase II Clinical Trial Using Cardiac Repair Cells Derived From Patient's Own Bone Marrow for Treatment of Severe Chronic Heart Failure
FDA Authorizes IND Application for Aastrom's First Cardiac Regeneration Clinical Trial
ANN ARBOR, Mich., June 17, 2008 (PRIME NEWSWIRE) -- Aastrom Biosciences, Inc. (NasdaqCM:ASTM - News), a leading regenerative medicine company, today announced plans to initiate a 40 patient U.S. Phase II clinical trial to study the use of Cardiac Repair Cells (CRCs), a mixture of stem and progenitor cells derived from a patient's own bone marrow, for the treatment of dilated cardiomyopathy (DCM), a severe form of chronic heart failure. Aastrom is now authorized under U.S. Food & Drug Administration (FDA) regulations to initiate its first Investigational New Drug (IND) clinical trial for cardiac regeneration. CRCs, manufactured using Aastrom's Tissue Repair Cell (TRC) technology, previously received Orphan Drug Designation from the FDA for the treatment of DCM.
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``This landmark trial is the first in the world to target both ischemic and non-ischemic DCM patients. It is also the first trial in the U.S. to evaluate the surgical delivery of autologous cells directly into the source of the problem, the heart muscle, for the treatment of congestive heart failure due to DCM,'' stated David A. Bull, M.D., Professor of Surgery and Chief of Cardiothoracic Surgery at the University of Utah School of Medicine. ``Aastrom's unique technology is able to produce a mixed cell population that we believe may be efficacious for treating these end-stage patients and is our primary motivation for participating in the trial.''
The randomized, controlled, prospective, open-label, Phase II study will seek to enroll 20 patients with ischemic DCM and 20 patients with non-ischemic DCM at five clinical sites in the U.S. Participants must have a left ventricular ejection fraction of less than or equal to 25% (60-75% is typical for a healthy person) and meet certain other eligibility criteria. All patients in each group will receive standard medical care and 75% of the patients will be treated with CRCs through direct injection into the heart muscle during open heart surgery. While the primary objective of this study is to assess the safety of CRCs in patients with DCM, efficacy measures including left ventricular ejection fraction and other cardiac function parameters as well as heart failure stage will be monitored. Patients will be followed for 12 months post treatment.
``Aastrom's trial is targeting critically ill patients with heart failure. These patients, with enlarged, weakened hearts, are at the end-stage of their disease and currently have no treatment options other than a heart transplant,'' said Mariell Jessup M.D., Professor of Medicine and Medical Director of Heart Failure and Transplantation, at the University of Pennsylvania Health System. ``Without a new therapeutic approach the majority of these patients will continue to decline and less than 40% will survive five years.''
There are currently 5.5 million people in the U.S. suffering from chronic heart failure. A subset of these patients has DCM, a chronic cardiac disease where expansion of the patient's heart reduces the pump function to a point that the normal circulation of blood cannot be maintained. Patients with DCM typically present with symptoms of congestive heart failure, including severe limitations in their physical activity and shortness of breath. DCM generally occurs in patients who have ischemic heart failure due to multiple heart attacks, though it can also be found in patients with non-ischemic heart failure caused by hypertension, viral infection or alcoholism. Patient prognosis depends on the stage of the disease but is characterized by numerous health problems and a very high mortality rate.
``After initial positive patient experience in the EU, we are pleased to be advancing our promising CRC program into the clinic in the U.S.,'' said George Dunbar, President and Chief Executive Officer of Aastrom. ``The IND approval for a Phase II trial to treat patients suffering from DCM supports our decision to focus our efforts and resources primarily on cardiac regeneration. As we move our cardiac development program forward, we will stop enrolling patients in our ON-CORE clinical trial for bone regeneration until we identify a partner to work with us to complete that effort. Patients who have already been treated in the ON-CORE trial will be followed by their physicians for the full 24 month follow-up period. Our RESTORE-CLI clinical trial targeting critical limb ischemia will continue as planned.''
Form 8-K for BIO KEY INTERNATIONAL INC
5-Jun-2008
Entry into a Material Definitive Agreement, Financial Statements and Ex
Item 101. Entry into a Material Definitive Agreement.
(a) On June 4, 2008, BIO-key International, Inc. (the "Company") entered into an Employment Agreement (the "Agreement") with Michael W. DePasquale, the current Chief Executive Officer of the Company. Pursuant to the Agreement, Mr. DePasquale shall continue to serve as Chief Executive Officer of the Company until May 25, 2009, or until the employment relationship is terminated or modified in accordance with the terms and conditions of the Agreement.
Under the Agreement, Mr. DePasquale will be paid an annual base salary of $250,000, subject to increases as may be granted by the Company's Board of Directors. Mr. DePasquale may also be awarded a discretionary bonus on the basis of the Company achieving certain corporate and strategic performance goals, as the Company's Board of Directors may determine in its sole discretion. The Agreement also contains other customary provisions for an agreement of its nature.
A copy of the Agreement is furnished herewith as Exhibit 99.1.
WallSt.net's '3 Minute Press Show' Features Executive Interviews and Highlights Recent Press for the Following: VSHD, EDWT, AVI, CFTN, XMDC, BFNH, BKYI, CYU, GRPS, EPS
NEW YORK, June 3 /PRNewswire/ -- WallSt.net's 3-Minute Press Show is a daily video program hosted by WallSt.net reporter, Tracee Tolentino.
Shows air Monday through Friday on:
http://tv.wallst.net/3-min-press/3-min-press.php.
BIO-key(R) Awarded $2 Million Biometric Contract by Multi-National Company
WALL, N.J., June 2 /PRNewswire-FirstCall/ -- BIO-key International, Inc. (OTC Bulletin Board: BKYI - News), a leader in wireless public safety and finger-based biometric identification solutions, today announced that it has been awarded a $2 million contract to integrate its biometric technology with a large multi-national technology company. BIO-key will license components of its VST(TM) finger matching software to be used on multiple, large international and domestic opportunities.
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Under the terms of the license agreement, BIO-key received a $2 million order for software licenses that will be delivered during the second and third quarters of the current fiscal year. Additional details of the agreement will be provided at a later date.
Mike DePasquale, BIO-key's President and CEO, said, "We have been talking about an inflection in the ID management industry over the past two quarters, and BIO-key's position as a leader in delivering the most advanced finger biometric software in the business. This contract is a validation of the strength of our technology, our business model and the opportunity for substantial growth that exist in our biometrics business unit for sales in both the government and commercial sectors. This is the largest single order that we have received to date and will support our objective of growth and profitability in the near term."
About BIO-key
BIO KEY INTERNATIONAL INC Financials
http://finance.yahoo.com/q/is?s=bkyi.ob
RedChip Independent Initiates Research Coverage on CytRx Corp.
Wednesday June 4, 1:14 pm ET
ORLANDO, Fla., June 4, 2008 (PRIME NEWSWIRE) -- RedChip Independent, a division of RedChip Companies, Inc., has initiated coverage on CytRx Corporation (NasdaqCM:CYTR - News), a biopharmaceutical research and development company engaged in developing human therapeutic products primarily based on small molecule Molecular Chaperone co-induction technology.
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Harry Russell, MBA, RedChip Research Analyst, reported:
``CytRx develops products based on the belief that stresses on cells cause a protein breakdown that brings about various disease states and ultimately cellular damage. By amplifying what is known as the 'Molecular Chaperone Response,' the Company believes that it can assist the body's natural mechanism for fixing misfolded proteins.
``CYTR has a paradigm shift technology which may offer solutions across multiple diseases with large patient populations. The Company is very well-capitalized to leverage its platform technology and continue to move it up the value chain so as to drive shareholder value,'' Russell continued. ``The markets for CytRx's products are enormous, but the clarity as to the extent of its technology has yet to emerge. If in fact Molecular Chaperone Technology has broad applicability and reduces the impact of various ailments caused by cell stress, then the market is billions of dollars. We feel that the Company is well-capitalized, is handling the FDA situation as well as can be expected, and has a contingency plan of acquisition activity to be deployed if its central program becomes compromised.
``We believe that the Company offers a solid value proposition at these levels and initiate coverage on CYTR with a 'Speculative Buy' rating,'' he concluded.
About RedChip Independent(tm)
RedChip Companies Inc. is a well-established source of independent research and information on the small-cap market. Dedicated to ``Discovering Tomorrow's Blue Chips Today,''(tm) its analysts seek out up-and-coming and undiscovered small-cap companies before they show up on Wall Street's radar screen. To view the full version of this report, including investment conclusion and target price, subscribe to RedChip's Research Community online at http://www.redchip.com/research/researchmain.asp or call 1-800-REDCHIP.
Software trade group spent $530K lobbying in 1Q
Wednesday June 4, 4:43 pm ET
Business Software Alliance spent $530,000 in first quarter to lobby on patent reform, trade
WASHINGTON (AP) -- The Business Software Alliance, the main copyright-enforcement watchdog for the commercial software industry, spent $530,000 lobbying on patent reform, trade and other issues in the first quarter, according to a disclosure report.
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The trade group, whose 32 members include Microsoft Corp., Cisco Systems Inc. and Apple Inc., also lobbied on technology research and development funding, Internet-based crimes and security, wireless high-speed Internet service, intellectual property rights legislation, more U.S. visas for highly skilled foreign technology workers and other matters.
Besides Congress, the BSA lobbied the White House, National Security Agency, the departments of Defense and Homeland Security, and other agencies in the first three months of the year.
Katherine McGuire, who previously served in numerous capacities for Sen. Mike Enzi, R-Wyo., is among those registered to lobby for the alliance, according to the report filed April 21 with the House clerk's office.
Form 8-K for JACO ELECTRONICS INC
http://biz.yahoo.com/e/080515/jaco8-k.html
Form 8-K for VERSO TECHNOLOGIES INC
http://biz.yahoo.com/e/080429/vrsoq.pk8-k.html
A-Power Energy Upgraded to NASDAQ Global Select Market
Monday June 2, 8:00 am ET
SHENYANG, China--(BUSINESS WIRE)--A-Power Energy Generation Systems, Ltd. (NASDAQ: APWR - News) ("A-Power"), today announced that its shares will begin trading on the NASDAQ Global Select Market today under the same symbol, APWR.
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Jinxiang Lu, A-Power’s Chairman and CEO, commented, “We are pleased to have met the financial and liquidity requirements that enable our shares to be traded alongside NASDAQ’s top tier companies. The NASDAQ Global Select Market was created for companies that meet the most stringent financial listing requirements, and this upgrade reflects A-Power’s continued growth and enhanced market value.”
A-Power’s common stock was listed on the NASDAQ Capital Market prior to the upgrade. Additional information about the NASDAQ Global Select Market can be found at http://www.nasdaq.com/GlobalSel
3Com Selects Commtouch GlobalView Mail Reputation Service as Anti-Spam Filter Service of its X-Family Unified Security Platforms
Monday June 2, 5:00 am ET
SUNNYVALE, Calif. & MARLBOROUGH, Mass.--(BUSINESS WIRE)--3Com Corporation (Nasdaq: COMS - News) and Commtouch (Nasdaq: CTCH - News) today announced that 3Com is licensing Commtouch’s GlobalView™ Mail Reputation Service as the 3Com® Anti-Spam Filter Service of its 3Com Unified Security Platforms.
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With the addition of the Commtouch anti-spam capability to the X-Family unified security platform, not only will 3Com customers secure their networks from internal and external attacks, they will effectively eliminate 80 percent or more of the junk e-mail they receive. 3Com customers already are realizing the benefits of the Commtouch solution in their 3Com security platform.
“Since implementing the new 3Com Anti-Spam Filter Service at the perimeter, we have noticed at least an 80 percent decrease in spam and no false positives at all,” said Mike Kunz, network manager for the Collinsville, Ill., Community Unit School District 10. “Our internal anti-spam solution has shown a significant drop in workload and messages it has to filter, which has resulted in better bandwidth utilization on our local area network.”
The X-Family product line, which includes the X5 and the X506 platforms, combines zonal firewall, virtual private networks (VPN), TippingPoint® Intrusion Prevention System, e-mail filtering, Web content filtering and bandwidth management with enterprise-class quality of service, and IP routing capabilities.
“3Com’s technology strategy includes integrating best-of-breed applications and technology from our partners into our switching, routing and security products,” said Scott Hilton, vice president of enterprise products for 3Com. “The highly accurate classifications performed by the Commtouch GlobalView service enable customers to work more efficiently without worrying about losing important messages.”
Another 3Com customer, Jerry McKitterick of Covenant Theological Seminary in St. Louis, Mo., said: “We had been getting complaints from users who managed shared/departmental mailboxes that they were receiving too much spam, so we decided to try 3Com’s Anti-Spam Filter Service. We are seeing between 40 and 50 thousand connections blocked every day, and four months after implementing it, I have not had a single complaint about a false positive. The users who manage the shared mailboxes tell me that they're seeing much less spam than they did before the 3Com Anti-Spam service was activated. My experience is that you can set it and forget about it.”
Commtouch’s GlobalView™ Mail Reputation Service forms the basis for 3Com’s Anti-Spam Filter Service in the X5 and X506 platforms, offloading around 80 percent of all unwanted mail at the perimeter of the organization. Based on a real-time risk assessment of sender reliability, the GlobalView service distinguishes between “good” and “bad” senders with only the knowledge of the sender’s IP address. Benefits for end-user customers include an overall increase in organizational security and a reduction in the necessary bandwidth and back-end IT resources needed for handling email.
Impac Mortgage Holdings, Inc. Announces Dividend Payments on Its 9.375% Series B and 9.125% Series C Cumulative Redeemable Preferred Stock
Wednesday June 4, 9:00 am ET
IRVINE, Calif., June 4 /PRNewswire-FirstCall/ -- Joseph R. Tomkinson, Chairman and CEO of Impac Mortgage Holdings, Inc. (NYSE: IMH - News), or the "Company" a Maryland corporation, being taxed as a real estate investment trust ("REIT"), is pleased to announce that in accordance with the terms of the Company's 9.375% Series B Cumulative Redeemable Preferred Stock (NYSE: IMHPrB - News), the Board of Directors has declared a preferred stock dividend of $0.58594 per share for the period beginning on April 1, 2008 ending June 30, 2008. The dividend will be paid on June 30, 2008 to those preferred stockholders of record as of June 19, 2008. The ex-dividend date will be June 17, 2008.
BioProcess International's Process Theater (BIO International Convention)
June 17 - 20, 2008
Aastrom Presenter: Brian Hampson - Sr. Engineering Fellow
Presentation Date and Time: TBD
Conference Location: San Diego Convention Center, San Diego, CA
Panel Discussion - Cell Therapy: The Solution for Chronic Cardiovascular Diseases? (BIO International Convention)
June 17, 2008 at 8:15 AM PT
Aastrom Panelist: Elmar Burchardt, MD, PhD - Vice President, Medical Affairs
Conference Location: San Diego Convention Center, San Diego, CA
Full Conference Dates: June 17-20, 2008
Webcast URL: No webcast available
Stem cell IPO faces long odds
NEW YORK (Reuters) - The odds would seem to be against an initial public offering for a biotech company with no profits and no products on the market, but stem-cell company Aldagen evidently feels lucky.
The company registered with U.S. regulators on May 9 to publicly offer up to $80.5 million worth of common stock, even as the credit crunch dampens investor demand for IPOs.
"These are the worst capital markets for biotech in the last five years," said Steve Brozak, an analyst at WBB Securities. "Their technology is good, but it's a tough equity market."
Aldagen has extra difficulties, too -- it is working on drugs that involve stem cells, which have proven to be a difficult part of the biotech market to navigate. Chief Operating Officer Ed Field declined to comment.
"There has never been a small stem-cell company that has issued an IPO and then been successful in bringing products to market," said Amy Stevens, an analyst at the Susquehanna Financial Group. "It's completely uncharted waters and that's the highest risk associated with the companies."
These waters have made many investors seasick as the majority of publicly listed stem cell shares have suffered heavy declines.
IPO VIEW-Stem cell IPO faces long odds
NEW YORK, May 16 (Reuters) - The odds would seem to be against an initial public offering for a biotech company with no profits and no products on the market, but stem cell company Aldagen evidently feels lucky.
The company registered with U.S. regulators on May 9 to publicly offer up to $80.5 million worth of common stock, even as the credit crunch dampens investor demand for IPOs.
"These are the worst capital markets for biotech in the last five years," said Steve Brozak, an analyst at WBB Securities. "Their technology is good, but it's a tough equity market."
Aldagen has extra difficulties, too -- it is working on drugs that involve stem cells, which have proven to be a difficult part of the biotech market to navigate. Chief Operating Officer Ed Field declined to comment.
"There has never been a small stem cell company that has issued an IPO and then been successful in bringing products to market," said Amy Stevens, an analyst at the Susquehanna Financial Group. "It's completely uncharted waters and that's the highest risk associated with the companies."
These waters have made many investors seasick as the majority of publicly listed stem cell shares have suffered heavy declines.
StemCells Inc's (STEM.O: Quote, Profile, Research) shares have dropped more than 40 percent over the past year and shares of Aastrom Biosciences Inc (ASTM.O: Quote, Profile, Research) have fallen more than 70 percent.
Income Statement
http://finance.yahoo.com/q/is?s=cytr
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transf
ITEM 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard
On May 28, 2008, CytRx Corporation ("we," "us," "our," "CytRx" or the "Company") received a notice from The Nasdaq Stock Market informing us that for the last 30 consecutive business days, the bid price of our common stock has closed below the minimum $1.00 per share requirement for continued inclusion on The Nasdaq Capital Market under Marketplace Rule 4310(c)(4). Our shares trade on The Nasdaq Capital Market under the symbol "CYTR." The notice states that under Marketplace Rule 4310(c)(8)(D), we will be provided 180 calendar days, or until November 24, 2008, to regain compliance with Marketplace Rule 4310(c)(4). To regain compliance, the bid price of our common stock must close at $1.00 per share or more for a minimum of 10 consecutive business days anytime before November 24, 2008.
The notice also states that on November 24, 2008, we will be provided with an additional 180 calendar day compliance period to demonstrate compliance if, at that time, we meet all of The Nasdaq Capital Market initial inclusion criteria set forth in Marketplace Rule 4310(c) other than the bid price requirement. If we are not eligible for an additional compliance period at that time, Nasdaq staff will provide written notification that our common stock will be delisted. Upon such notice, we may appeal the Nasdaq staff determination to a Listing Qualifications Panel, pursuant to the procedures set forth in the Nasdaq Marketplace Rule 4800 Series. There can be no assurance that, if the Nasdaq staff determines to delist our common stock and we appeal the Nasdaq Staff's determination, such appeal would be successful.
We continue to monitor the bid price for our common stock. If our common stock does not trade at a level that is likely to regain compliance, our Board of Directors will consider options available to us to achieve compliance. ITEM 9.01 Financial Statements and Exhibits