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TOPLF - Trans-Orient Completes Equity Financing
Wednesday August 30, 5:02 pm ET
VANCOUVER, British Columbia, Aug. 30 /PRNewswire/ -- Canadian-based oil and gas explorer, Trans-Orient Petroleum Ltd., (OTC Bulletin Board: TOPLF - News) has completed a private placement financing for 12,972,142 equity units of the Company at a purchase price of US$0.35 per unit, for proceeds of US$4,540,250. The Company plans to allocate this capital towards re-establishing direct operations in New Zealand and Southeast Asia.
Each unit consists of one common share and one warrant to purchase an additional common share at a price of US$0.70 per share for two years from the closing date. The units were placed with accredited investors and reliance on Regulation S to the 1933 Securities Act. All shares issued, including the exercise of the warrants, will be subject to a four-month resale restricted period in Canada, and restricted in the US in accordance with Rule 144. At the Company's option, and after the applicable resale restricted period has expired, the warrants' expiry date can be accelerated on 30 days notice should the Company's shares trade at or higher than US$1.25 for ten consecutive trading days. No fees or material expenses were incurred in connection with the placement.
As at August 30, 2006 the Company has 30,590,225 shares issued and
outstanding.
CONTACT:
Dan Brown
604-682-6496
dbrown@iremco.com
www.transorient.com
--------------------------------------------------------------------------------
Source: Trans-Orient Petroleum Ltd.
GFCI / CTBG - Grifco International, Inc. Announces Reorganization With Tree Top Will Not Affect Planned Spin-Off of Coil Tubing Technology, Inc.
Wednesday August 30, 5:24 pm ET
HOUSTON, TX--(MARKET WIRE)--Aug 30, 2006 -- Grifco International, Inc. ("Grifco" or the "Company") (Other OTC:GFCI.PK - News) announced today that its reorganization with Tree Top Industries, Inc. ("Tree Top") would not affect its plans to spin-off the operations of Coil Tubing Technology, Inc. (Other OTC:CTBG.PK - News) ("CTT") as a separate entity.
In order to clarify Grifco's reorganization with Tree Top, Jim Dial, Grifco's President and CEO, stated, "While we are energetically moving forward with our reorganization plans with Tree Top, Grifco and Coil Tubing continue to make appropriate plans to spin-off CTT from Grifco as a distinct publicly owned entity."
Mr. Dial continued, "The spin-off of CTT as a separate entity will still occur, as previously announced."
Upon approval from the Securities and Exchange Commission, Grifco will distribute its shares of CTT to shareholders of record on May 1, 2006. All assets associated with CTT will follow into its new entity.
About Grifco International, Inc.
Grifco International is a leading provider of oil and gas services equipment, specializing in the conception, architecture, and development of tools for the coil tubing, wire line, and snubbing industries throughout the United States, China, Mexico, South America, the Middle East and Africa. Grifco holds and owns design rights and manufacturing facilities for producing more than 6,000 products for the oil and gas industry with more than 150 clients, boasting the biggest names in the business, including Halliburton, Exxon Mobil Corp, and Schlumberger. For more information, please visit: www.grifco.org.
Forward-Looking Statements
Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "forward-looking statements" and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements and takes no obligation to update or correct information prepared by third parties that is not paid for by the Company.
Contact:
Contact:
Chicago Investor Relations LLC
312.238.9875
--------------------------------------------------------------------------------
Source: Grifco International, Inc.
CIEN - Ciena Announces One-for-Seven Reverse Stock Split
Thursday August 31, 7:02 am ET
LINTHICUM, Md.--(BUSINESS WIRE)--Aug. 31, 2006--Ciena® Corporation (NASDAQ: CIEN - News), the network specialist, today announced that its Board of Directors has approved a one-for-seven reverse split of its common stock. The reverse split will become effective as of 5:00 p.m. Eastern Time on September 22, 2006.
At Ciena's annual meeting on March 15, 2006, shareholders approved a proposal to authorize the Board, in its discretion, to effect a reverse split of Ciena's outstanding common stock at one of three approved ratios, at any time prior to the 2007 annual meeting, without further action by shareholders.
The purposes of the reverse split are to increase the per share trading price of Ciena's common stock, thereby appealing to a broader range of investors; and to provide investors with more useful information in making period-to-period comparisons of Ciena's earnings per share. To the extent that the reverse split does succeed in attracting more investor interest in the stock, shareholders may also benefit from improved trading liquidity of the stock.
Upon the effectiveness of the reverse stock split, Ciena shareholders will receive one new share of Ciena common stock for every seven shares they hold. Ciena's common stock will begin trading on a split-adjusted basis when the market opens on September 25, 2006. For a period of approximately 20 trading days after the stock split becomes effective, NASDAQ will append a "D" to Ciena's stock symbol in order to inform the investment community of the reverse stock split.
In connection with the reverse split, the total number of common shares authorized under Ciena's Third Restated Certificate of Incorporation will be reduced from 980 million to 140 million shares. As of the end of Ciena's fiscal third quarter 2006, there were approximately 590.9 million shares of Ciena's common stock outstanding. Effecting the 1-for-7 reverse split will reduce that total to approximately 84.4 million shares. The reverse split will not change the number of shares of Ciena preferred stock authorized, which will remain at 20 million.
Treatment of Stock Options, Warrants and Convertible Notes
The number of common shares into which Ciena's outstanding stock options, warrants and both issues of convertible notes are convertible, as well as the relevant exercise or conversion price per share, will be proportionately adjusted to reflect the reverse split. The number of shares authorized for issuance under Ciena's equity compensation plans will also be reduced to reflect the reverse split.
Fractional Shares
Ciena will not issue any fractional shares of its common stock as a result of the reverse split. Instead, Ciena's transfer agent, Computershare Shareholder Services, will aggregate all fractional shares held by Ciena shareholders into whole shares and arrange for them to be sold on the open market. In lieu of the fractional share, shareholders will receive a cash payment equal to their pro rata share of the total net proceeds of these sales. Shareholders will not be entitled to receive interest for the period of time between the effective date of the reverse split and the date the shareholder receives his or her cash payment.
Shareholders holding fewer than seven shares of Ciena common stock will receive only cash in lieu of fractional shares and will no longer hold any shares of Ciena common stock as of the effective time of the split.
Obtaining New Stock Certificates
Ciena will adopt a new stock certificate in connection with the implementation of the reverse split.
Computershare Shareholder Services has been retained to manage the exchange of stock certificates. Shareholders of record will receive a letter of transmittal providing instructions for the exchange of their certificates as soon as practicable following the effectiveness of the reverse split. Shareholders who hold their shares in "street name," will be contacted by their banks or brokers with any instructions. For further information, shareholders and securities brokers should contact Computershare at 877-282-1168.
NOTE TO INVESTORS
This press release contains certain forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties. These statements are based on information available to the Company as of the date hereof; and Ciena's actual results could differ materially from those stated or implied, due to risks and uncertainties associated with its business, which include the risk factors disclosed in its Report on Form 10-Q filed with the Securities and Exchange Commission on June 1, 2006. Forward-looking statements include statements regarding Ciena's expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will," and "would" or similar words. Forward looking statements in this release include: the purposes of the reverse split are to increase the per share trading price of Ciena's common stock, thereby appealing to a broader range of investors; and to provide investors with more useful information in making period-to-period comparisons of Ciena's earnings per share; and, to the extent that the reverse split does succeed in attracting more investor interest in the stock, shareholders may also benefit from improved trading liquidity of the stock. Ciena assumes no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
About Ciena
Ciena Corporation is the network specialist, focused on expanding the possibilities for its customers' networks while reducing their cost of ownership. The Company's systems, software and services target and cure specific network pain points so that telcos, cable operators, governments and enterprises can best exploit the new applications that are driving their businesses forward. For more information, visit www.ciena.com.
Contact:
Press:
Ciena Corporation
Nicole Anderson, 410-694-5786
pr@ciena.com
or
Investors:
Ciena Corporation
Jessica Towns, 888-243-6223
ir@ciena.com
--------------------------------------------------------------------------------
Source: Ciena Corporation
CIEN - Ciena Announces One-for-Seven Reverse Stock Split
Thursday August 31, 7:02 am ET
LINTHICUM, Md.--(BUSINESS WIRE)--Aug. 31, 2006--Ciena® Corporation (NASDAQ: CIEN - News), the network specialist, today announced that its Board of Directors has approved a one-for-seven reverse split of its common stock. The reverse split will become effective as of 5:00 p.m. Eastern Time on September 22, 2006.
At Ciena's annual meeting on March 15, 2006, shareholders approved a proposal to authorize the Board, in its discretion, to effect a reverse split of Ciena's outstanding common stock at one of three approved ratios, at any time prior to the 2007 annual meeting, without further action by shareholders.
The purposes of the reverse split are to increase the per share trading price of Ciena's common stock, thereby appealing to a broader range of investors; and to provide investors with more useful information in making period-to-period comparisons of Ciena's earnings per share. To the extent that the reverse split does succeed in attracting more investor interest in the stock, shareholders may also benefit from improved trading liquidity of the stock.
Upon the effectiveness of the reverse stock split, Ciena shareholders will receive one new share of Ciena common stock for every seven shares they hold. Ciena's common stock will begin trading on a split-adjusted basis when the market opens on September 25, 2006. For a period of approximately 20 trading days after the stock split becomes effective, NASDAQ will append a "D" to Ciena's stock symbol in order to inform the investment community of the reverse stock split.
In connection with the reverse split, the total number of common shares authorized under Ciena's Third Restated Certificate of Incorporation will be reduced from 980 million to 140 million shares. As of the end of Ciena's fiscal third quarter 2006, there were approximately 590.9 million shares of Ciena's common stock outstanding. Effecting the 1-for-7 reverse split will reduce that total to approximately 84.4 million shares. The reverse split will not change the number of shares of Ciena preferred stock authorized, which will remain at 20 million.
Treatment of Stock Options, Warrants and Convertible Notes
The number of common shares into which Ciena's outstanding stock options, warrants and both issues of convertible notes are convertible, as well as the relevant exercise or conversion price per share, will be proportionately adjusted to reflect the reverse split. The number of shares authorized for issuance under Ciena's equity compensation plans will also be reduced to reflect the reverse split.
Fractional Shares
Ciena will not issue any fractional shares of its common stock as a result of the reverse split. Instead, Ciena's transfer agent, Computershare Shareholder Services, will aggregate all fractional shares held by Ciena shareholders into whole shares and arrange for them to be sold on the open market. In lieu of the fractional share, shareholders will receive a cash payment equal to their pro rata share of the total net proceeds of these sales. Shareholders will not be entitled to receive interest for the period of time between the effective date of the reverse split and the date the shareholder receives his or her cash payment.
Shareholders holding fewer than seven shares of Ciena common stock will receive only cash in lieu of fractional shares and will no longer hold any shares of Ciena common stock as of the effective time of the split.
Obtaining New Stock Certificates
Ciena will adopt a new stock certificate in connection with the implementation of the reverse split.
Computershare Shareholder Services has been retained to manage the exchange of stock certificates. Shareholders of record will receive a letter of transmittal providing instructions for the exchange of their certificates as soon as practicable following the effectiveness of the reverse split. Shareholders who hold their shares in "street name," will be contacted by their banks or brokers with any instructions. For further information, shareholders and securities brokers should contact Computershare at 877-282-1168.
NOTE TO INVESTORS
This press release contains certain forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties. These statements are based on information available to the Company as of the date hereof; and Ciena's actual results could differ materially from those stated or implied, due to risks and uncertainties associated with its business, which include the risk factors disclosed in its Report on Form 10-Q filed with the Securities and Exchange Commission on June 1, 2006. Forward-looking statements include statements regarding Ciena's expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will," and "would" or similar words. Forward looking statements in this release include: the purposes of the reverse split are to increase the per share trading price of Ciena's common stock, thereby appealing to a broader range of investors; and to provide investors with more useful information in making period-to-period comparisons of Ciena's earnings per share; and, to the extent that the reverse split does succeed in attracting more investor interest in the stock, shareholders may also benefit from improved trading liquidity of the stock. Ciena assumes no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
About Ciena
Ciena Corporation is the network specialist, focused on expanding the possibilities for its customers' networks while reducing their cost of ownership. The Company's systems, software and services target and cure specific network pain points so that telcos, cable operators, governments and enterprises can best exploit the new applications that are driving their businesses forward. For more information, visit www.ciena.com.
Contact:
Press:
Ciena Corporation
Nicole Anderson, 410-694-5786
pr@ciena.com
or
Investors:
Ciena Corporation
Jessica Towns, 888-243-6223
ir@ciena.com
--------------------------------------------------------------------------------
Source: Ciena Corporation
on watch...
BHCG
Blackhawk Receives Symbol for OTCBB
Wednesday August 30, 6:35 pm ET
NEW YORK, Aug. 30, 2006 (PRIMEZONE) -- On behalf of Blackhawk Capital Group BDC, Inc., a Delaware corporation (the ``Company'') (OTC BB:BHCG.OB - News), Network 1 Financial Securities, Inc. (``Network 1'') submitted an application on Form 211 on July 5, 2006 to the National Association of Securities Dealers, Inc. (``NASD'') to initiate quotations in the OTC Bulletin Board Service for the Company's common stock, par value $.00001 per share (``Common Stock''). On August 22, 2006, the NASD issued a letter to Network 1 stating that unpriced quotations could begin on the OTC Bulletin Board on the Company's Common Stock and that if Network 1 decides to enter a priced quotation (bid or offer) in the Common Stock in any quotation medium, Network 1 must supplement its filing with the Form 211. This supplemental filing must include the basis and factors for Network 1's priced quotation and be received by the NASD three days before the priced entry appears in a quotations medium. The symbol for the Common Stock is ``BHCG.''
Contact:
Blackhawk Capital Group BDC, Inc.
Dr. Craig A. Zabala
(212) 566-8300
--------------------------------------------------------------------------------
Source: Blackhawk Capital Group BDC, Inc.
BHCG - Blackhawk Receives Symbol for OTCBB
Wednesday August 30, 6:35 pm ET
NEW YORK, Aug. 30, 2006 (PRIMEZONE) -- On behalf of Blackhawk Capital Group BDC, Inc., a Delaware corporation (the ``Company'') (OTC BB:BHCG.OB - News), Network 1 Financial Securities, Inc. (``Network 1'') submitted an application on Form 211 on July 5, 2006 to the National Association of Securities Dealers, Inc. (``NASD'') to initiate quotations in the OTC Bulletin Board Service for the Company's common stock, par value $.00001 per share (``Common Stock''). On August 22, 2006, the NASD issued a letter to Network 1 stating that unpriced quotations could begin on the OTC Bulletin Board on the Company's Common Stock and that if Network 1 decides to enter a priced quotation (bid or offer) in the Common Stock in any quotation medium, Network 1 must supplement its filing with the Form 211. This supplemental filing must include the basis and factors for Network 1's priced quotation and be received by the NASD three days before the priced entry appears in a quotations medium. The symbol for the Common Stock is ``BHCG.''
Contact:
Blackhawk Capital Group BDC, Inc.
Dr. Craig A. Zabala
(212) 566-8300
--------------------------------------------------------------------------------
Source: Blackhawk Capital Group BDC, Inc.
IMGN - ImmunoGen, Inc. Announces that sanofi-aventis Has Extended the Term of its Research Collaboration with the Company
Thursday August 31, 6:30 am ET
ImmunoGen Also Gains More Flexibility to Expand Product Pipeline
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Aug. 31, 2006--ImmunoGen, Inc. (Nasdaq: IMGN - News) today announced that sanofi-aventis U.S. LLC has exercised its right to extend the term of its research collaboration with the Company. ImmunoGen now will receive committed research support funding from sanofi-aventis through August 31, 2008. The Company also announced that, effective September 1, 2006, ImmunoGen will no longer be obligated to present new targets for antibody-based anticancer therapeutics to sanofi-aventis, enabling the Company to be able to use such targets in the development of its own proprietary products.
"We're pleased that our relationship with sanofi-aventis will move to its next stage in an orderly and logical fashion and with the opportunity for significant return that this collaboration provides for ImmunoGen going forward," commented Mitchel Sayare, ImmunoGen Chairman and CEO. "ImmunoGen will receive research support funding from sanofi-aventis through August 2008 and - starting tomorrow - we're also free to use new targets that we identify for our own product programs. We continue to be entitled to receive milestone payments, manufacturing payments and royalties for each compound in the collaboration and to have certain co-promotion rights. After August 2008, we'll also have the potential for compensation from sanofi-aventis for each license they take to use our technology with antibodies to targets that weren't part of our research collaboration."
In July 2003, ImmunoGen and Aventis Pharmaceuticals, Inc. (sanofi-aventis U.S. LLC's predecessor in interest in connection herewith) established a collaboration to discover, develop, and commercialize novel antibody-based anticancer products. The collaboration includes:
Joint research - The two companies agreed to collaborate in the development of novel antibody-based anticancer compounds, with sanofi-aventis providing committed research funding to ImmunoGen. On August 31, 2005, sanofi-aventis exercised the first of its two options to extend the research part of the collaboration for an additional one-year period, and committed to provide ImmunoGen a minimum of $18.2 million over the 12-month period beginning September 1, 2006. Sanofi-aventis now has exercised the second of its two options, and committed to provide ImmunoGen with a minimum of $10.4 million in research support funding during the final, transition year of the collaboration - the 12-month period beginning September 1, 2007.
Collaboration Products - For each product developed under the research collaboration with sanofi-aventis, ImmunoGen is entitled to receive significant milestone payments plus royalties on sales. The Company also receives manufacturing payments for compounds produced on behalf of sanofi-aventis and has certain co-promotion rights on a product-by-product basis.
After August 2008, sanofi-aventis will need to license the right to use ImmunoGen's maytansinoid TAP technology with antibodies to targets that were not part of the research collaboration between ImmunoGen and sanofi-aventis. Sanofi-aventis and ImmunoGen have agreed to negotiate a multi-target agreement to provide sanofi-aventis with access to ImmunoGen's maytansinoid TAP technology for antibody targets that were not part of the research collaboration between ImmunoGen and sanofi-aventis.
About ImmunoGen, Inc.
ImmunoGen, Inc. develops targeted anticancer biopharmaceuticals. The Company's proprietary TAP technology uses tumor-targeting antibodies to deliver a potent cell-killing agent specifically to cancer cells. Four TAP compounds are in clinical testing - huN901-DM1 and huC242-DM4, which are wholly owned by ImmunoGen, and AVE9633 and trastuzumab-DM1, which are in development by sanofi-aventis and Genentech, respectively. Amgen (formerly Abgenix), Biogen Idec, Biotest AG, Boehringer Ingelheim, Centocor, Genentech, Millennium Pharmaceuticals, Inc., and sanofi-aventis have licensed the right to develop and/or test TAP compounds to specific targets; ImmunoGen also has a broader collaboration with sanofi-aventis.
This press release includes forward-looking statements. For these statements, ImmunoGen claims the protection of the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. It should be noted that there are risks and uncertainties related to the development of collaboration products, as well as the Company's development of its own products. A review of these risks can be found in ImmunoGen's Annual Report on Form 10-K for the fiscal year ended June 30, 2006 and other reports filed with the Securities and Exchange Commission.
Contact:
Investors:
ImmunoGen, Inc.
Carol Hausner, 617-995-2500
Executive Director, Investor Relations and
Corporate Communications
info@immunogen.com
or
Media:
KMorrisPR
Kira Gordon, 646-243-4920
KiraGordon@earthlink.net
--------------------------------------------------------------------------------
Source: ImmunoGen, Inc.
GMTC - GameTech International, Inc. Announces Agreement to Acquire Summit Amusement & Distributing, Ltd.
Wednesday August 30, 7:49 pm ET
RENO, Nev., Aug. 30 /PRNewswire-FirstCall/ -- GameTech International, Inc. (Nasdaq: GMTC - News), a leading developer and manufacturer of electronic bingo equipment and bingo systems, announced today that it has entered into a definitive agreement with privately-held Summit Amusement & Distributing, Ltd. to acquire substantially all of the assets of Summit. The consideration for the assets consists of $37 million in cash payable at closing, and a contingent payment of up to $2 million if the acquired business achieves certain profitability goals for 2006.
Headquartered in Billings, Montana, Summit is a leading developer and manufacturer of entertainment driven gaming devices, including primarily video lottery terminal equipment and related software. Summit's primary markets currently include Montana, Louisiana, South Dakota, West Virginia and Native American casinos located in various areas in the United States. Summit has approximately 50 employees.
Jay Meilstrup, GameTech's President and Chief Executive Officer, commented, "We at GameTech are very pleased to announce this acquisition. We believe that Summit's business is highly complementary to GameTech's existing business, and that the acquisition will provide GameTech with the opportunity to significantly expand its product offerings and market presence. We are also very optimistic about the opportunities we believe exist to grow Summit's business."
Summit reported sales in 2005 of approximately $25 million and pre-tax income in 2005 of approximately $4 million.
The transaction is subject to a number of customary closing conditions. In addition, GameTech must obtain licenses to operate the acquired business and complete its contemplated financing for the acquisition, and under certain circumstances must pay Summit a $1 million termination fee if it is unable to obtain the required permits and financing. GameTech anticipates financing the acquisition with a $10 million revolving line of credit and a $30 million term loan. The transaction is expected to close in the first fiscal quarter of 2007.
GameTech International, Inc. is a leading developer and marketer of a comprehensive line of electronic bingo equipment, including hand-held bingo terminals, fixed-base terminals, and turnkey accounting and management software systems. GameTech supports its bingo operator customers with products that typically increase play, revenue and profits, and with software customized to enhance management and operations, all backed by unparalleled customer service and support.
Certain statements contained in this press release may be deemed to be forward-looking statements under federal securities laws, and GameTech intends that these statements be subject to the safe harbor provided by those laws. Forward-looking statements include the potential effects of the definitive agreement with, and the acquisition of, Summit, our potential expansion of our domestic and international business and markets, new product and product feature developments, the success of our strategic opportunities and initiatives, and expectations relating to financial and operating results. We caution that these statements are subject to risks and uncertainties that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein, including whether we will be able to obtain consents, financing and licenses required to complete the acquisition of Summit, our ability to successfully integrate, operate and grow Summit's business, our dependence on the bingo and electronic bingo industry and Summit's dependence on the video lottery terminal business, and other factors disclosed in documents we have filed with the Securities and Exchange Commission, including our most recently filed Form 10-Ks, 10-Qs and 8-Ks.
--------------------------------------------------------------------------------
Source: GameTech International, Inc.
SVMI - SaVi Media Group Recruits Top Executive as New CEO
Wednesday August 30, 8:01 pm ET
ANAHEIM, CA--(MARKET WIRE)--Aug 30, 2006 -- SaVi Media Group, Inc. (OTC BB:SVMI.OB - News) is pleased to announce that it has hired Greg Sweeney as its new Chief Executive Officer. Greg Sweeney has an extensive background in executive management and he has been a successful leader in both the government and private sectors.
Mr. Sweeney was elected for three terms to serve as the mayor of Andrews, Texas. During his tenure, he maintained a balanced budget and increased surplus revenue by 25 million dollars. Mr. Sweeney served in the Air Force, where he was an integral member of the Aerospace & Medicine-Laser Research and Development Team. In addition to serving on multiple board of directors, he founded and was President of several companies, including Austin Equipment Co., Sweeney Oil Co. and Fossil Creek Production Co. Mr. Sweeney has also served as the Executive Director of Sales and Marketing for Railhead Underground Products LLC and the District Manager of Nolan Brunson Inc.
Mario Procopio, the prior CEO who will remain as the Chairman of the Board of Directors, remarked, "Greg Sweeney brings great expertise with his diverse background, strategic vision, and leadership skills. With Greg and Phil Scott, our new CFO, we have brought in an exciting and well qualified new management team to move the Company forward. I look forward to working with them and foresee a prosperous and bright future."
Greg Sweeney stated, "I am incredibly excited by what the future holds for SaVi Media Group and the opportunity to be on the ground floor of a company that can truly make this kind of significant difference for our environment. I have been impressed by Mr. Procopio's unique ability to bring together a talented group of executives and his vision for success. Together, we will work to position this Company into the forefront to reduce emission pollution. I am appreciative of this privilege and given position and look forward to working with him and the rest of the management team to help SaVi Media Group attain all its financial and operational goals."
About SaVi Media Group
SaVi Media Group creates and commercializes blow-by gas and crankcase engine emission reduction technology. They have created a simple gasoline and diesel engine emission reduction technology, allowing them to provide their clients with lower-cost, more effective and more efficient emission reduction and engine performance. With 20+ years of emissions and materials R&D behind it, the Company was formed to create, support and license a patented supplementary vehicle emissions reduction and fuel efficiency technology that can reduce emissions and improve efficiency. Using proprietary methods and processes SaVi increases fuel efficiency at the same time decreases emissions and extends component life.
For more information, visit www.SaViMediaGroup.com
Safe Harbor Statement: This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We use words such as "anticipate," "believe," "expect," "future," "intend," "plan," and similar expressions to identify forward-looking statements. Forward-looking statements include, without limitation, our ability to increase income streams, to grow revenue and earnings, and to obtain other Joint Ventures. These statements are only predictions and are subject to certain risks, uncertainties and assumptions, which are identified and described in the Company's public filings with the Securities and Exchange Commission.
Contact:
Contact:
SaVi Media Group
Dr. Mario Procopio
800-916-5420
Mario.Procopio@SaviMediaGroup.com
http://www.SaviMediaGroup.com
--------------------------------------------------------------------------------
Source: SaVi Media Group Inc.
GNOLF - Genoil Inc. Announces Purchase of Royalty Rights of Murphy Canada Exploration Company
Wednesday August 30, 10:27 pm ET
CALGARY, ALBERTA--(MARKET WIRE)--Aug 30, 2006 -- Genoil Inc. ("Genoil" or the "Corporation") (TSX VENTURE:GNO.V - News)(OTC BB:GNOLF.OB - News) announces that it has agreed to enter into a purchase and sale agreement with Murphy Canada Exploration Company ("Murphy") for the purchase of certain royalty rights held by Murphy. Murphy is a party, as a successor in interest to the interests of Beau Canada Exploration Ltd., to a purchase and sale agreement between Beau Canada Exploration Ltd., Genoil, and others. This agreement provided Murphy with a 3% royalty on Genoil's consolidated revenues, excluding revenues from certain facilities. Genoil is currently involved in a legal dispute with Murphy regarding the basis upon which this 3% royalty is payable and the accrued amounts owing under the royalty. Genoil and Murphy have agreed to enter into a purchase agreement whereby Genoil will acquire Murphy's interests and rights to this royalty in consideration for 4,500,000 fully paid and non-assessable common shares in the share capital of Genoil. The issuance of such shares and the re-acquisition of this royalty right will additionally result in the settlement of the outstanding dispute.
Genoil is a technology development and engineering company providing environmentally sound solutions to the oil and gas industry through the use of proprietary technologies. The Genoil Hydroconversion Upgrader is designed to economically convert heavy crude oil into more valuable light upgraded crude, high in yields of transport fuels, while significantly reducing the sulfur, nitrogen and other contaminants. Genoil's shares are listed on the TSX Venture Exchange under the symbol GNO, as well as on the OTC Bulletin Board under GNOLF.OB.
The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
Contact:
Contacts:
Genoil Inc.
David Lifschultz
Chairman & CEO
(212) 688-8868
Website: http://www.genoil.net
--------------------------------------------------------------------------------
Source: Genoil Inc.
EPCT - EpiCept Secures $10 Million Term Loan Financing
Wednesday August 30, 10:40 pm ET
ENGLEWOOD CLIFFS, N.J., Aug. 30 /PRNewswire-FirstCall/ -- EpiCept Corporation (Nasdaq: EPCT - News; Stockholm: EPCT - News) announced today that it has successfully closed a $10 million senior secured term loan with Hercules Technology Growth Capital, Inc. (Nasdaq: HTGC - News). The funds will be used to advance the company's pipeline, including Ceplene(TM), its lead oncology compound for the treatment of Acute Myeloid Leukemia (AML); LidoPAIN® SP, its sterile lidocaine patch for the treatment of post-surgical incision pain; EpiCept(TM) NP-1, its prescription topical analgesic cream for the treatment of chronic pain caused by peripheral neuropathies; and LidoPAIN® BP, its non-sterile lidocaine patch for the treatment of acute or recurrent lower back pain. The loan has a scheduled final maturity on August 30, 2009. EpiCept will be able to receive a 6-month extension of the final maturity date, if it completes certain milestones.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020513/NYM112LOGO )
In connection with the term loan, the Company granted to Hercules warrants to purchase approximately 471,000 shares of the Company's common stock at $2.65 per share, which was the volume-weighted average of the closing prices for the Company's common stock for the twenty days preceding the closing of the loan. The Company has granted Hercules registration rights with respect to the resale of the shares of common stock issuable upon exercise of the warrants.
"This loan will allow EpiCept to bolster our cash position in a non-dilutive way as we move toward a number of exciting near-term milestones," stated Jack Talley, CEO of EpiCept Corporation. "We look forward to advancing the development of our product candidates and to meeting important milestones, such as preparing our EMEA filing for Ceplene, commencing pivotal trials for EpiCept NP-1 and LidoPAIN BP, and preparing our IND for EPC2407, the Company's anti-cancer drug candidate."
About Hercules Technology Growth Capital, Inc.
Founded in December 2003, Hercules Technology Growth Capital, Inc. is a NASDAQ traded specialty finance company providing debt and equity growth capital to technology-related companies at all stages of development. Hercules primarily finances privately-held companies backed by leading venture capital and private equity firms and also may finance certain publicly-traded companies. Hercules focuses its investments in companies active in technology and technology-related industries such as computer software and hardware, networking systems, semiconductors, semiconductor capital equipment, information technology infrastructure, Internet consumer and business services, telecommunications, and life sciences. Hercules' investments are originated through its principal office located in Silicon Valley, as well as additional offices in the Boston, Boulder and Chicago areas. Providing capital to publicly traded or privately held companies backed by leading venture capital and private equity firms involves a high degree of credit risk and may result in potential losses of capital.
About EpiCept Corporation
EpiCept Corporation is an emerging specialty pharmaceutical company focused on unmet needs in the treatment of pain and cancer. EpiCept has a staged portfolio with several pain therapies in late-stage clinical trials, and a lead oncology compound (for AML) with demonstrated efficacy in a Phase III trial; the compound is intended for commercialization in Europe. EpiCept is based in New Jersey, and its research and development team in San Diego is pursuing a drug discovery program focused on novel approaches to apoptosis.
Forward-Looking Statements
This news release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements include statements regarding the efficacy, safety, and intended utilization of the Company's product candidates, the terms of the loan, the conduct and results of future clinical trials, the sufficiency of the Company's existing capital resources, plans regarding regulatory filings, future research and clinical trials and plans regarding partnering activities. Factors that may cause actual results to differ materially include the risk that the Company will not be able to repay the term loan when due or receive an extension of the principal payment due date or final maturity date, the risk that product candidates that appeared promising in early research and clinical trials do not demonstrate safety and/or efficacy in larger-scale or later clinical trials, the risk that the Company will not obtain approval to market its products, the risks associated with reliance on outside financing to meet capital requirements, and the risks associated with reliance on collaborative partners for further clinical trials, development and commercialization of product candidates. You are urged to consider statements that include the words "may," "will," "would," "could," "should," "believes," "estimates," "projects," "potential," "expects," "plans," "anticipates," "intends," "continues," "forecast," "designed," "goal," or the negative of those words or other comparable words to be uncertain and forward-looking. These factors and others are more fully discussed in the Company's periodic reports and other filings with the SEC.
EPCT-GEN
--------------------------------------------------------------------------------
Source: EpiCept Corporation
Y/W spaceheater.
fdjr13, is that not just a copy of what is in the ibox?
Stocks seen flat ahead of data and Bernanke
Thursday August 31, 6:47 am ET
By Sophie Hares
LONDON (Reuters) - Wall Street's stocks are set for a flat start to Thursday trade as investors sit tight ahead of key inflation data and a speech by Federal Reserve Chairman Ben Bernanke.
Harrah's Entertainment (NYSE:HET - News) will be in focus after agreeing to buy Britain's London Clubs (London:LCI.L - News) for $530 million, while Fluor Corp. (NYSE:FLR - News) confirmed that earlier this week it submitted an offer to acquire British Nuclear Group Limited.
By 1021 GMT, U.S. stock futures were pointing to opening around 0.1 percent lower for the three main indexes (SPc1) (DJc1) (NDc1).
"The reasonable business cycle ahead should enable another year of profit growth and equity index rises in 2007 on a global basis," said SG strategists in a note.
"Our preference still goes to U.S. equities which are backed by the best rate environment," they added, but cautioned the prospect of rate cuts was not imminent.
The Dow Jones industrial average (^DJI - News) advanced 0.1 percent on Wednesday to end at 11,382.91. The Standard & Poor's 500 Index (^SPX - News) was unchanged at 1,304.27, while Nasdaq (NASDAQ:^IXIC - News) rose 0.6 percent to close at 2,185.73.
Oil prices edged up to around $70.60 a barrel as Iran looked set to defy the United Nations' deadline for halting nuclear enrichment, raising the risk of sanctions against the world's fourth-biggest crude exporter.
A swathe of companies are scheduled to report earnings on Thursday, including HJ Heinz (NYSE:HNZ - News), Tiffany & Co. (NYSE:TIF - News) and Brown-Forman Corp. (NYSE:BF-A - News; NYSE:BF-B - News).
On the economic calendar, personal incomes and spending data for July is due for release at 1230 GMT, alongside the closely watched core PCE. The Chicago Aug PMI report and durable goods orders are scheduled for 1400 GMT.
Bernanke discusses productivity at 1630 GMT.
Transatlantic EXPANSION
Las Vegas-based Harrah's agreed to pay 125 pence-a-share in a recommended offer for London Clubs, a premium of around 27 percent to London Clubs' closing share price on Wednesday.
In other merger news, U.S. engineering and construction company Fluor confirmed its offer to British Nuclear Fuels Plc (BNFL) to acquire British Nuclear Group Limited (BNG).
The Times newspaper had reported in its Thursday edition that Fluor was in talks to buy BNG for up to 400 million pounds.
Carnival Corp (NYSE:CCL - News) is set to climb on hopes of consolidation in the sector after U.S.-Norwegian Royal Caribbean Cruises (Oslo:RCL.OL - News; NYSE:RCL - News) has agreed to buy Spain's biggest cruise and tour operator, Pullmantur, for 700 million euros.
Elsewhere, the head of French telecoms equipment maker Alcatel (Paris:CGEP.PA - News) rejected a call by some investors to change the terms of its acquisition of U.S. peer Lucent (NYSE:LU - News), Les Echos reported on Thursday.
MITI - Micromet Secures $25 Million Committed Equity Financing Facility
Thursday August 31, 3:15 am ET
CARLSBAD, CA--(MARKET WIRE)--Aug 31, 2006 -- Micromet, Inc. (NASDAQ:MITI - News), a biopharmaceutical company focusing on the development of novel, proprietary antibody-based products for cancer, inflammatory and autoimmune diseases, today announced that it has entered into a Committed Equity Financing Facility (CEFF) with Kingsbridge Capital Limited, a private investment group. Under the terms of the agreement, Kingsbridge has committed to provide up to $25 million of capital during the next three years through the purchase of newly-issued shares of Micromet's common stock. Micromet will determine the timing and amount of any CEFF financings, subject to certain conditions.
"This financing facility offers Micromet an enhanced ability to supplement our cash reserves if and when we determine appropriate and at terms that we believe are favorable to the company and minimally dilutive to our shareholders," said Christian Itin, Ph.D., President and Chief Executive Officer of Micromet, Inc. "Micromet today has two product candidates for the treatment of cancer in clinical development and an early-stage pipeline that we intend to advance into the clinic."
Micromet's most advanced product candidate is MT201 (adecatumumab), a human antibody currently being tested as a monoagent in two Phase 2 trials in prostate cancer and in metastatic breast cancer, respectively. MT201 is being developed in collaboration with Serono. Micromet's second product candidate in clinical trials is MT103 (MEDI-538), a BiTE® compound currently in a Phase 1 clinical trial in non-Hodgkins lymphoma (NHL) in Europe. Micromet's partner MedImmune has recently submitted an IND to the FDA to initiate clinical trials of MT103 in NHL in the United States.
Key provisions of the CEFF are as follows:
-- For a period of three years, subject to the conditions of the CEFF, Micromet can access up to $25 million from Kingsbridge in exchange for newly-issued shares of Micromet's common stock. Subject to the terms of the CEFF, Micromet may access the capital after the Securities and Exchange Commission (SEC) declares effective the registration statement to be filed by Micromet covering the resale of the shares of common stock issuable in connection with the CEFF.
-- Micromet may access capital under the CEFF in tranches of up to the lesser of $5 million or 1-1.5% of Micromet's market capitalization as determined at the time of the draw down of such tranche and subject to certain conditions. Each tranche will be issued and priced over an eight-day pricing period. Kingsbridge will purchase shares of common stock pursuant to the CEFF at discounts ranging from 6% to 14% depending on the average market price of the common stock during the eight-day pricing period, provided that if the average market price on any day during the pricing period is less than the greater of $2.00 or 85% of the closing price of the day preceding the first day of the pricing period, then such day would not be used in determining the number of shares that would be issued in the draw down and the aggregate amount of such draw down would be decreased by one-eighth.
-- Throughout the term of the agreement, Kingsbridge is restricted from engaging in any shorting transaction of Micromet's common stock.
-- Micromet is not obligated to utilize any of the $25 million available under the CEFF and there are no minimum commitments or minimum use penalties. The CEFF agreement does not contain any restrictions on Micromet's operating activities, automatic pricing resets or minimum market volume restrictions.
-- The agreement does not prohibit Micromet from conducting additional debt or equity financings, other than financings similar to the CEFF.
-- In connection with the CEFF, Micromet issued a warrant to Kingsbridge to purchase up to 285,000 shares of common stock at an exercise price of $3.2145 per share, which represents a 25% premium over the average of the closing prices of Micromet's common stock during the five trading days immediately preceding the signing of the agreement. The warrant will become exercisable after the six month anniversary of the date of the agreement. The warrant will remain exercisable, subject to certain exceptions, until five years after the date that the warrant becomes exercisable.
-- The maximum number of shares that Micromet can sell to Kingsbridge under the CEFF is 6,251,193 (exclusive of shares issuable to Kingsbridge upon exercise of the warrant).
The securities issuable in connection with the CEFF and upon the exercise of the warrant issued to Kingsbridge have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration under the Securities Act of 1933 and applicable state securities laws or available exemptions from registration requirements. Micromet has agreed to file a registration statement for the resale of the shares of common stock issuable in connection with the CEFF and the shares of common stock underlying the warrant within 60 days of the date of the agreement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.
Contact Information
Investors: Ines-Regina Buth
(760) 494-4235 (US)
+49 (0)89 895277 221 (Europe)
ines.buth@micromet-inc.com
Media Europe: Evelyn Wolf
+49 (0)89 895277 220
evelyn.wolf@micromet-inc.com
Media US: Susan Noonan
(212) 966-3650
susan@sanoonan.com
About Micromet, Inc. (www.micromet-inc.com)
Micromet, Inc. is a biopharmaceutical company focusing on the development of novel, proprietary antibody-based products for cancer, inflammatory and autoimmune diseases. Two product candidates are currently in clinical trials. Adecatumumab (MT201), a recombinant human monoclonal antibody, is being evaluated in Phase 2 clinical trials for the treatment of patients with breast cancer and prostate cancer. MT103 (MEDI-538), a BiTE® product candidate, is being studied in a Phase 1 clinical trial for the treatment of patients with Non Hodgkin Lymphoma. Micromet has established a drug development platform based on its BiTE® technology, a unique, antibody-based format that leverages the cytotoxic potential of T cells, the most powerful 'killer cells' of the human immune system. Micromet has established collaborations with MedImmune, Inc. and Serono.
Forward-Looking Statements
This release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements include statements regarding the company's clinical development activities, the issuance of shares of the company's Common Stock under the CEFF, and the registration for resale of the shares to be issued under the CEFF. Factors that may cause actual results to differ materially include difficulties encountered in integrating the businesses of Micromet AG and CancerVax Corporation, the risk that product candidates that appeared promising in early research and clinical trials do not demonstrate safety and/or efficacy in larger-scale or later clinical trials, the risk that preliminary results from clinical trials may not be confirmed upon full analysis of the detailed results of a trial and additional information relating to the safety, efficacy or tolerability of our product candidates may be discovered upon further analysis of the trial data, the risk that we will not obtain approval to market our product candidates, the risks associated with reliance on outside financing to meet capital requirements, and the risks associated with reliance on collaborative partners for further clinical trials, development and commercialization of product candidates. You are urged to consider statements that include the words "ongoing", "may", "will", "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "plans", "anticipates", "intends", "continues", "forecast", "designed", "goal", or the negative of those words or other comparable words to be uncertain and forward-looking. These factors and others are more fully discussed in our periodic reports and other filings with the SEC.
Any forward-looking statements are made pursuant to Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, as such, speak only as of the date made. Micromet, Inc. undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
Copyright © Hugin ASA 2006. All rights reserved.
Contact:
--------------------------------------------------------------------------------
Source: Micromet Inc.
TIVO - TiVo Widens 2Q Loss, but Tops Estimates
Thursday August 31, 3:31 am ET
By Rachel Konrad, AP Technology Writer
TiVo Widens 2Q Loss to $6.45 Million, but Beats Wall Street Expectations
SAN FRANCISCO (AP) -- The red ink swelled in TiVo Inc.'s second quarter as the maker of digital video recorders amassed heavy legal costs to litigate an intellectual property dispute.
The Alviso, Calif., company reported a quarterly loss of $6.45 million, or 7 cents a share, up from $892,000 or a penny per share in the same period of 2005.
Revenue rose 50 percent to $59.2 million, from $39.3 million a year ago, with the company boosting its year-over-year subscriber count by 24 percent to 4.4 million as of July 31.
Despite the wider loss reported Wednesday, TiVo easily beat Wall Street's expectations. Analysts, on average, were expecting a loss of $10.54 million, or 14 cents per share, on sales of $51.32 million, according to a survey by Thomson Financial.
"Overall, I'd say it was a relatively benign quarter, and that's pretty good for TiVo," said Michael Kelman of Susquehanna Financial Group. "I think we're all looking for better visibility into the success of some of their recent deals. It's hard to say how much patience Wall Street will extend to them."
The losses are likely to expand as the company increases its marketing spending to entice new customers. In its current quarter, TiVo expects to lose $12 million to $17 million on revenue of $54 million to $56 million. Analysts are projecting on average a loss of $14.8 million, or 16 cents a share, on revenue of $54.6 million.
TiVo Chief Executive Tom Rogers wouldn't predict when the company would become profitable, but he emphasized in a phone interview Wednesday afternoon that it would continue to spend significant amounts of money on getting new customers through advertising and other marketing efforts.
"We believe the best way to grow our company is to increase our distribution," Rogers said. "Right now we're in a subscriber-building phase and the marketing expenditure that that brings with it."
TiVo spent $8.3 million last quarter on marketing initiatives, 10 percent more than it spent in the same quarter last year.
Rogers would not break out how much money TiVo spent on legal battles. But the company reported Wednesday that "general and administrative" expenses -- a category that includes payments to some accountants, lawyers, consultants and technologists -- swelled to $11.09 million last quarter, up from $8.41 million in the same period of 2005.
The company has seen its competitive position shrink as cable companies, satellite television operators and electronics makers scramble to offer a version of the DVR. But TiVo has claimed successor models infringe its 2001 patent on the underlying technology and that makers should license the technology.
A court ruling earlier this month went a long way toward proving TiVo correct: EchoStar Communication Corp. was ordered to pay TiVo $89.6 million in damages -- about half a year's revenue for TiVo -- for infringing the company's patent with a DVR of its own. Analysts say TiVo is well-positioned to negotiate a licensing agreement with EchoStar, which operates the Dish Network.
TiVo has such an agreement with Dish competitor DirecTV Group Inc., even though the satellite TV operator makes its own DVRs. In April TiVo and DirecTV extended their pact for another three years.
Within a week of the EchoStar ruling, TiVo announced a deal with privately held cable company Cox Communications that will give Cox customers who have Motorola-made DVRs the ability to download TiVo software. That follows a similar deal with Comcast Corp., the largest U.S. cable company.
TiVo also inked a co-marketing agreement last quarter with BellSouth Corp. on DVRs and high-speed Internet. The company introduced a new product with two tuners, which allows users to record two shows at once, a feature other DVRs already offer.
Rob Sanderson, communications analyst at American Technology Research, said the legal victories should be welcome news to Wall Street. But the company is still considered a risky investment, in part because TiVo must spend millions of dollars to acquire new subscribers, while paying hefty royalties to retailers and rebates to customers.
"The good news is that they didn't spend as much as they thought they would, but the bad news is that they didn't get as many subscribers as most analysts thought they would," Sanderson said. "Their business trends are pretty tough, and profits are a ways out."
TiVo Inc.: http://www.tivo.com
EXEL - Exelixis Files IND Application for XL228
Thursday August 31, 6:00 am ET
Eighth Internally Discovered Compound to Advance Into Clinical Development
SOUTH SAN FRANCISCO, Calif., Aug. 31 /PRNewswire-FirstCall/ -- Exelixis, Inc. (Nasdaq: EXEL - News) has submitted an investigational new drug application (IND) to the U.S. Food and Drug Administration for XL228, a novel anticancer compound designed to inhibit the insulin-like growth factor type-1 receptor (IGF1R), Src and Abl tyrosine kinases. These targets play crucial roles in cancer cell proliferation, survival and metastasis. Importantly, XL228 is a potent inhibitor of the T315I mutant form of the Abl protein, which is associated with resistance to currently approved therapies like Gleevec® (imatinib mesylate) and Sprycel(TM) (dasatanib). In preclinical studies, administration of XL228 resulted in significant tumor growth inhibition and regression in xenograft tumor models.
"We believe that XL228 is the first compound to advance into the clinic with potent, low-nanomolar activity against both wild-type Abl and the T315I mutant form of Abl that is seen in a significant fraction of chronic myelogenous leukemia (CML) patients who have become resistant to treatment with Gleevec®," said George A. Scangos, president and chief executive officer of Exelixis. "Targeting this mutation, in addition to potently inhibiting wild-type Abl and Src may address the increasing medical needs of CML patients who do not respond or develop resistance to Gleevec® or Sprycel(TM) and provides us with a potentially accelerated path through clinical development. XL228 is our eighth internally discovered compound to advance to IND filing and the first of three INDs we expect to file this year."
About XL228
XL228 is a potent inhibitor of several tyrosine kinases implicated in the growth, proliferation and metastasis of cancer cells. The compound inhibits the activity of the insulin-like growth factor type-1 receptor (IGF1R), Src and Abl. Significantly, in preclinical studies XL228 had potent activity against the T315I mutant form of Abl, which is associated with resistance to currently approved therapies. In addition, administration of XL228 resulted in significant tumor growth inhibition and regression in xenograft tumor models. Phase I clinical trials of XL228 are expected to initiate in the fourth quarter of 2006.
About Exelixis
Exelixis, Inc. is a biotechnology company dedicated to the discovery and development of novel therapeutics that will potentially enhance the care and lives of patients with cancer and other serious diseases. The company is leveraging its fully integrated gene-to-drug platform to fuel the growth of its proprietary drug pipeline. Exelixis' development pipeline covers cancer and metabolism and is comprised of the following compounds: XL119 (becatecarin), for which a multinational Phase III clinical trial in bile duct tumors is ongoing and which has been exclusively licensed to Helsinn Healthcare S.A.; XL784, which is currently in a Phase II clinical trial for renal disease; XL999, XL880 and XL647, anticancer compounds currently in Phase II clinical trials; XL820, XL844 and XL184, anticancer compounds currently in Phase I clinical trials; XL228, an anticancer compound for which an IND has been filed; and multiple compounds in preclinical development for diseases including cancer and various metabolic and cardiovascular disorders. Exelixis has established broad corporate alliances with major pharmaceutical and biotechnology companies including GlaxoSmithKline (GSK) and Bristol-Myers Squibb Company. Pursuant to a product development and commercialization agreement between Exelixis and GSK, GSK has the option, after completion of clinical proof-of-concept by Exelixis, to elect to develop up to three compounds in Exelixis' product pipeline, which may include XL784 and the cancer compounds identified in this press release (other than XL119), thus potentially triggering milestone payments and royalties from GSK and co-promotion rights by Exelixis. For more information, please visit the company's web site at www.exelixis.com.
This press release contains forward-looking statements, including without limitation statements related to the expected timing of the initiation of the Phase I clinical trial for XL228 and the potential clinical development path for XL228. Words such as "believes," "anticipates," "plans," "expects," "intends," "will," "slated," "goal" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Exelixis' current expectations. Forward-looking statements involve risks and uncertainties. Exelixis' actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, the potential failure of product candidates to demonstrate safety and efficacy in clinical testing; the ability of Helsinn Healthcare S.A. to conduct the Phase III clinical trial of XL119 sufficient to achieve FDA approval; the ability to complete and initiate trials at the referenced times; the ability to conduct clinical trials sufficient to achieve a positive completion; the ability to file INDs at the referenced times; the ability of Exelixis to advance additional preclinical compounds into clinical development; the uncertainty of the FDA approval process; and the therapeutic and commercial value of the company's compounds. These and other risk factors are discussed under "Risk Factors" and elsewhere in our quarterly report on Form 10-Q for the quarter ended June 30, 2006 and other filings with the Securities and Exchange Commission. The company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
NOTE: Gleevec® is a registered U.S. trademark of Novartis and Sprycel(TM) is a trademark of Bristol Myers Squibb.
--------------------------------------------------------------------------------
Source: Exelixis, Inc.
.<font color=green> To the board....
Very nice, very impressive what a dif. a day makes.
a few personal attacks but mostly its great to see
all the DD that is evolving. thnx for that.
What is peculiar is a pattern I see emerging where posters have to declare them selves LONG, it is kinda silly as it creates a divide that is not needed as we are all in this together. To add to that I have been in this stock since last Sept. and I don't see all that many familiar faces that are long.
For newbies and those who have not seen this,
please read...
http://www.investorshub.com/boards/read_msg.asp?message_id=13004654
cheaplaf,
re: "How do we newbies keep the newbie bashers and wannabies at bay? Can we iggy them?"
Yes iggy is the best way, I suggest that for all both pro and con. mostly I am finding some of these negative comments are just some needing attention. I am deleting any personal attacks.
best to you.
on watch...
MAEN - Maisonette International Enterprises Ltd. Announces Reduction In Outstanding Shares
Wednesday August 30, 2:46 pm ET
Company Eliminates Close To 8 Million Shares
VANCOUVER, BC--(MARKET WIRE)--Aug 30, 2006 -- Maisonette International Enterprises Ltd. "the Company" (Other OTC:MAEN.PK - News) http://www.maisonetteworld.com is pleased to announce that it will start procedures for cancellation of the 7,866,667 returned by Highgate Capital LLC. in exchange for full payoff of the debenture loan by the Company. The share elimination and reduction represents a reduction of approximately 5% of the Company's total outstanding shares.
The Company is also pleased to announce that it is in advanced partial acquisition and/or merger talks with a European company involved in real estate developments and architectural and urban planning work. This will give the Company a bigger foothold with a local partner for its subsidiary's Maple Seal Homes Ltd. prefabricated panelized homes.
Charles Fussenegger, President of the Company and Alain Ghiai, Chairman of the Board of Directors of the Company added: "The days of endless dilution due to the PIPE fund's massive selling of our stock are over. We are now reclaiming over five percent of our shares outstanding and canceling them as a sign of our promise to increase shareholders value and reduce dilution. The next step for us is to file all our financials with Pink Sheets LLC. and get this completed in the next couple of weeks hopefully. We are going to use some or all of those reclaimed shares in the partial acquisition of the European partner we plan to work closely with in regards to our business of prefabricated housing."
About Maisonette International Enterprises Ltd.
Maisonette International Enterprises Ltd. is a publicly held holding company incorporated in Nevada, USA. Its primary asset is a 100% wholly owned Canadian company called Maple Seal Homes Ltd. with its primary activity being the sale and distribution of panelized prefabricated housing and building materials for the general public and professionals.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors affecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission. There may be other factors not mentioned above that may cause actual results to differ materially from any forward-looking information.
Media Contact:
Globus Media Ltd.
investors@maisonetteworld.com
www.maisonetteworld.com
powered by www.globusmedia.ca
Copyright © Hugin ASA 2006. All rights reserved.
Contact:
--------------------------------------------------------------------------------
Source: Maisonette International Enterprises Ltd.
MAEN - Maisonette International Enterprises Ltd. Announces Reduction In Outstanding Shares
Wednesday August 30, 2:46 pm ET
Company Eliminates Close To 8 Million Shares
VANCOUVER, BC--(MARKET WIRE)--Aug 30, 2006 -- Maisonette International Enterprises Ltd. "the Company" (Other OTC:MAEN.PK - News) http://www.maisonetteworld.com is pleased to announce that it will start procedures for cancellation of the 7,866,667 returned by Highgate Capital LLC. in exchange for full payoff of the debenture loan by the Company. The share elimination and reduction represents a reduction of approximately 5% of the Company's total outstanding shares.
The Company is also pleased to announce that it is in advanced partial acquisition and/or merger talks with a European company involved in real estate developments and architectural and urban planning work. This will give the Company a bigger foothold with a local partner for its subsidiary's Maple Seal Homes Ltd. prefabricated panelized homes.
Charles Fussenegger, President of the Company and Alain Ghiai, Chairman of the Board of Directors of the Company added: "The days of endless dilution due to the PIPE fund's massive selling of our stock are over. We are now reclaiming over five percent of our shares outstanding and canceling them as a sign of our promise to increase shareholders value and reduce dilution. The next step for us is to file all our financials with Pink Sheets LLC. and get this completed in the next couple of weeks hopefully. We are going to use some or all of those reclaimed shares in the partial acquisition of the European partner we plan to work closely with in regards to our business of prefabricated housing."
About Maisonette International Enterprises Ltd.
Maisonette International Enterprises Ltd. is a publicly held holding company incorporated in Nevada, USA. Its primary asset is a 100% wholly owned Canadian company called Maple Seal Homes Ltd. with its primary activity being the sale and distribution of panelized prefabricated housing and building materials for the general public and professionals.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors affecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission. There may be other factors not mentioned above that may cause actual results to differ materially from any forward-looking information.
Media Contact:
Globus Media Ltd.
investors@maisonetteworld.com
www.maisonetteworld.com
powered by www.globusmedia.ca
Copyright © Hugin ASA 2006. All rights reserved.
Contact:
--------------------------------------------------------------------------------
Source: Maisonette International Enterprises Ltd.
y/w
been watching for quite awhile, was tempted last few days .007
but took my eye off it this morn and look at it now...lol
Missy, re: your DMDD post...getting some volume now
greenspirit,
I was so very impressed on all the positive comments about you yesterday.
sorry we ever got to the point we did and hope we can go forward forgetting the past.
best to you.
jantinna,
if you are here just to get a rise out of folks back off.
I see from your first post here what you are about...
stop being so confrontational.
Makes you wonder doesn't it! I heard about this stock on a yahoo board and just had to check it out. I have to do a lot more DD on this stock but it reminds me so much of a stock I was involved in a few years ago where everything looked so positive, lot's of great PR'S, heavy volume and everyone had visions of the stock going 10-20 times higher in a year or less. They did a RM and within months the stock went from $2 down to about .07 a share. What really strikes me is the way the CEO of both companies made statements to shareholders about how they would be rewarded with higher stock prices in the near future. When a CEO makes a promise like that it throws up a huge red flag. I have to do a lot of DD but my first impression is BE VERY CAREFUL with this one.
Andromedus,
I appreciate your response to that post
level headed and fair
unlike another one I had to delete.
best to you.
EXGN, sneaky one...old hydro co.
lol, usually safer that way.
Here ya go maam...
Under Pressure...lol (thnx PB)
LOL, RE: "Now look what you did! You made me use my last post for the day!"
twas not on purpose I promise (evil grin)
was mostly thinking if you had subsription
besides for no adds and more posting abilities, you would more importantly have private message features to hash out in PM
with some that would appreciate it.
allinone...
humor is good thnx...but tell me
why have you not bought a subscription to have full member service?
justwatching, thank you, no dis meant but I am not going to let this board get carried away like yesterday again.
great now I have the song "under pressure" in my head
BLLD +170% ok I am firing myself...lol
moxyone, justwatching11, stocktoastcrunch, banchrima, 1yankees, snips007, michael2300, cashacumming, jimmym4
All of you have had post deleted today, You need to read this....
http://www.investorshub.com/boards/read_msg.asp?message_id=13004654
or leave this board...!
ps: and stop wasting my time...TIA
omg I am LMAO, U can't fire me...the contract clearly states that you have no justification for doing so.
and I am raising my fees
ps: I know where you live hahaha
Good, you have my address...I expect advising fees to be sent ASAP LMAO