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.50 Dreams,Inc.Announces New Alliance with JCPenney
Dreams, Inc. Announces New Alliance with JCPenney
Aug. 20, 2009 (Business Wire) -- Dreams, Inc. (NYSE Amex: DRJ) the vertically integrated leader in the licensed sports products industry, today announced an agreement with JCPenney that provides customers the ability to purchase from a tremendous array of licensed sports memorabilia and apparel directly from the retailer’s online sports fan shop at (www.jcp.com). Representing the largest collaboration of its kind for Dreams, Inc., the new site provides an expanded offering of licensed sports merchandise from professional teams, colleges and athletes – all at JCPenney’s signature affordable prices. The new and expanded online sports fan shop will launch in October.
“This new alliance with JCPenney is a great extension to our business,” said Ross Tannenbaum, president and CEO of Dreams Inc. “Dreams, Inc. continues to broaden, and has already worked with a line-up of impressive clients including AOL, USA Today, the Philadelphia Eagles and Sporting News. By aligning with JCPenney, a national retailer with one of the largest general merchandise websites on the Internet and more than 1,100 department stores, we’re able to extend our merchandise offering to the more than half of Americans that the retailer currently serves.”
“We are elated to be working with JCPenney and providing their customers with the most comprehensive assortment of licensed sports items from professional teams, colleges, individuals and legacies,” said Kevin Bates, Dreams Retail president and FansEdge founder. “We will integrate our technology seamlessly into theirs so customers will enjoy the same online shopping experience that they’ve always experienced at jcp.com, but with a much larger dimension of licensed sports products.”
Dreams Retail offers JCPenney the ability to make championship products such as World Series merchandise available to customers immediately. This venture offers customers a significantly larger product mix, with fast delivery and a simple user interface.
“Our partnership with Dreams expands our high-quality offering of sports merchandise, providing more shopping options for our customers,” said Steve Lawrence, executive vice president of men’s apparel at JCPenney. “We know that our customers are passionate about their sports teams and our new and expanded online sports fan shop will allow us to offer them their favorite licensed team product in a quick and more convenient manner.”
DREAMS, INC. trades under the ticker symbol: NYSE Amex:DRJ
www.dreamscorp.com
SBSA .30-Spanish Broadcasting Corp.-Nasdaq-Ready to Go....
LEE deleted from Russell 3000 Index-Complete list attached...
http://www.russell.com/indexes/membership/reconstitution/Reconstitution_changes.aspx
DRJ.43-Vista Partners Updates Coverage on Dreams Inc.; $2.68 Target Price
WEC: Brown vs. Faber II–Sunday, June 7, live on VERSUS
Strikeforce: Lawler vs. Shields June 6th Showtime
CXZ.. .24 Mining........Starting.....
.74--EFJI--63-.74-.90.96.....Ready.. Moving.........
EFJI--63-.74-.90.96.....Ready..............
EFJI--63-.74-.90.96..............
.82-NXST-Last Broadcasting Stock that has not moved.....
TPUT -$.35-Getting Ready..Cheapest Steel Company-Nasdaq
TPUT - $.35-Getting Ready....Cheapest Steel Company
TPUT - $.35-Getting Ready....Cheapest Steel Company
TPUT--.25-Barzel Industries-NR Bottom-Cheapest STEEL Co.Turn Around-O/S 26.5 mil-NAS.
"The ABL Credit Facility remains undrawn and we are in compliance with all covenants of our debt facilities"
http://www.barzel.com/home/ Web Site
http://www.google.com/finance?q=tput Google Profile
http://steelguru.com/news/index/2009/04/30/OTIzMjM%3D/Barzel_Industries_announces_Q1_financial_results.html
http://www.tradingmarkets.com/.site/news/Stock%20News/2293266/
http://www.metalbulletin.com/Article/2186944/Iron/AMM-Barzel-slashes-exposure-to-auto-market.html
+140%--.46-- +56 .29--GCFB-.19 cents-Granite City Brewery-26 Locations-Nasdaq- Mkt Cap 3.08 mil...Links
16.1 mil o/s ---------------STARTING-------------------
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+56% .29--GCFB-.19 cents-Granite City Brewery-26 Locations-Nasdaq- Mkt Cap 3.08 mil...Links
16.1 mil o/s ---------------STARTING-------------------
http://www.gcfb.net/ Web Site
http://www.google.com/finance?q=NASDAQ%3AGCFB Google Profile
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6246696 insider actions
STRIKEFORCE SLUGFEST: NICK DIAZ VS. SCOTT SMITH
Monday, April 27, 2009 - by Damon Martin - MMAWeekly.com
With the success of his first turn competing at a catchweight in April, Nick Diaz will take a second shot at fighting at 180 pounds, this time against heavy hitter Scott Smith, at the June 6 Strikeforce event in St. Louis.
The bout has been verbally agreed upon according to sources close to the fight, as confirmed to MMAWeekly.com on Monday. Sports1140.com originally reported the bout.
Nick Diaz made an impressive showing for himself at the Strikeforce event in early April as he dismantled Frank Shamrock, eventually finishing off the legend in the second round of their 180-pound contest.
Now the former lightweight and welterweight will keep the extra pounds on as he returns to action to face another tough opponent in California native Scott Smith.
The former WEC and UFC middleweight fought on the same card as Diaz where he got the best of Benji Radach in a bout that many called the best fight so far of 2009.
Smith will get little rest following the tough fight against Radach, as he now looks to get his third win in a row when he faces Diaz as a part of the promotion's continued deal with the Showtime network.
A heavyweight title bout has also been rumored for the card with Strikeforce champion Alistair Overeem returning to the promotion for the first time since 2008 to face Minnesota wrecking machine Brett Rogers. The bout has not been finalized, but sources confirmed that it is in negotiations to possibly appear on the June 6 card, as well.
The main event for the June 6 show pits former EliteXC middleweight champion Robbie Lawler against former EliteXC welterweight champion Jake Shields
TLR .42 - .46 .52 and On- MOVING-nds .42 Break.............
FZN-.70-Cuisine Solutions-Great Product.Low Volume Stock-Near Bottom /Forgotten...Links
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TEC-.39-Teton Energy Announces Sale of Piceance Basin Assets $10.3 Million- 52 wk high $6.43
DENVER, April 23 /PRNewswire-FirstCall/ -- Teton Energy Corporation ("Teton") (Nasdaq: TEC) announced today it has signed a Purchase and Sale Agreement for the sale of its 12.5 percent non-operated working interest position in the Piceance Basin in western Colorado to Puckett Land Company for $10.3 million before closing adjustments. The closing, which is subject to completion of due diligence, is anticipated to occur on or before May 22, 2009 with an effective date of January 1, 2009.
The sale represents approximately 4.1 million cubic feet per day equivalent ("MMcfed") of net production related to the Piceance Basin as of December 2008 and includes net acreage of approximately 789 acres in the Garden Gulch development area in Garfield County, Colorado.
Karl Arleth, President and Chief Executive Officer, commented, "We have completed another step in the process of executing our strategy to divest our non-operated assets and strengthen our balance sheet. We now more closely control the rate of both capital and operating expenditures related to our assets after this transaction. Net proceeds from the transaction will be used to pay down debt on our bank credit facility."
Company Description. Teton Energy Corporation is an independent oil and gas exploration and production company focused on the acquisition, exploration and development of North American properties. The Company's current operations are concentrated in the prolific Rocky Mountain and Mid-continent regions of the U.S. Teton has leasehold interests in the Central Kansas Uplift, the Williston Basin in North Dakota, the Big Horn Basin in Wyoming and the eastern Denver-Julesburg Basin in Colorado, Kansas and Nebraska. Teton is headquartered in Denver, Colorado. For more information about Teton, please visit the Company's website at www.teton-energy.com.
BLD-Baldwin Technology Co- eps .44- p/e 2.19- 15.3 mil shrs.
.50 ITP- InterTAPE- Industrial Tapes(ie Duct Tape)750 mil re...
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FZN-.70-Cuisine Solutions-Great Product.Low Volume Stock-Near Bottom /Forgotten...Links
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.70-FZN-Cuisine Solutions-Great Product.Low Volume Stock-Near Bottom /Forgotten...Links
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FZN .65-Cuisine Solutions-Great Product.Low Volume Stock-Near Bottom /Forgotten...Links
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GCFB-.19 cents-Granite City Brewery -26 Locations-Nasdaq- Mkt Cap 3.08 mil...Links
16.1 mil o/s
http://www.gcfb.net/ Web Site
http://www.google.com/finance?q=NASDAQ%3AGCFB Google Profile
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6246696 insider actions
KNDI @ 1.43- China- ATV'S, Motorcycles & Possible Mini Car..
COSI---.45 cents, COSI, INC.- NO Debt- ZERO- Link attached...............
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UFC 97- Fight clips- Link Attached...............
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COSI---.42 cents, COSI, INC.- NO Debt- ZERO- Link attached...............
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Stem-cell policy change liberating to researchers- Article atached.. 3-07-2009
WASHINGTON – Eight years of frustration are close to an end for scientists seeking ways to use embryonic stem cells to combat illness and injury.
On Monday, President Barack Obama plans to reverse limits imposed by President George W. Bush on using federal money for research with embryonic stem cells.
The long-promised move will allow a rush of research aimed at one day better treating, if not curing, ailments from diabetes to paralysis — research that is has drawn broad support, including from notables like Nancy Reagan, widow of the late Republican President Ronald Reagan, and the late Christopher Reeve.
But it stirs intense controversy over whether government crosses a moral line with such research, and opponents promptly denounced the move.
Obama will hold an event at the White House to announce the move, a senior administration official said Friday. The official spoke on condition of anonymity because the policy had not yet been publicly announced.
Embryonic stem cells are master cells that can morph into any cell of the body. Scientists hope to harness them so they can create replacement tissues to treat a variety of diseases — such as new insulin-producing cells for diabetics, cells that could help those with Parkinson's disease or maybe even Alzheimer's, or new nerve connections to restore movement after spinal injury.
"I feel vindicated after eight years of struggle, and I know it's going to energize my research team," said Dr. George Daley of the Harvard Stem Cell Institute and Children's Hospital of Boston, a leading stem cell researcher.
But the research is controversial because days-old embryos must be destroyed to obtain the cells. They typically are culled from fertility-clinic leftovers otherwise destined to be thrown away.
Under Bush, taxpayer money for that research was limited to a small number of stem cell lines that were created before Aug. 9, 2001, lines that in many cases had some drawbacks that limited their potential usability.
But hundreds more of such lines — groups of cells that can continue to propagate in lab dishes — have been created since then, ones that scientists say are healthier, better suited to creating treatments for people rather than doing basic laboratory science.
Work didn't stop. Indeed, it advanced enough that this summer, the private Geron Corp. will begin the world's first study of a treatment using human embryonic stem cells, in people who recently suffered a spinal cord injury.
Nor does Obama's change fund creation of new lines. But it means that scientists who until now have had to rely on private donations to work with these newer stem cell lines can apply for government money for the research, just like they do for studies of gene therapy or other treatment approaches.
The aim of the policy is to restore "scientific integrity" to the process, the administration official said.
"America's biomedical research enterprise experienced steady decline over the past eight years, with shrinking budgets and policies that elevated ideology over science. This slowed the pace of discovery and the search for cures," said Sean Morrison, director of the University of Michigan's Center for Stem Cell Biology.
Critics immediately denounced the move.
"Taxpayers should not have to foot the bill for experiments that require the destruction of human life," said Tony Perkins of the conservative Family Research Council. "President Obama's policy change is especially troubling given the significant adult stem cell advances that are being used to treat patients now without harming or destroying human embryos."
Indeed, there are different types of stem cells: So-called adult stem cells that produce a specific type of tissue; younger stem cells found floating in amniotic fluid or the placenta. Scientists even have learned to reprogram certain cells to behave like stem cells.
But even researchers who work with varying types consider embryonic stem cells the most flexible and thus most promising form — and say that science, not politics, should ultimately judge.
"Science works best and patients are served best by having all the tools at our disposal," Daley said.
Obama made it clear during the campaign he would overturn Bush's directive.
During the campaign, Obama said, "I strongly support expanding research on stem cells. I believe that the restrictions that President Bush has placed on funding of human embryonic stem cell research have handcuffed our scientists and hindered our ability to compete with other nations."
He said he would lift Bush's ban and "ensure that all research on stem cells is conducted ethically and with rigorous oversight."
"Patients and people who've been patient advocates are going to be really happy," said Amy Comstock Rick of the Coalition for the Advancement of Medical Research.
The ruling will bring one immediate change: As of Monday, scientists who've had to meticulously keep separate their federally funded research and their privately funded stem cell work — from buying separate microscopes to even setting up labs in different buildings — won't have that expensive hurdle anymore.
Next, scientists can start applying for research grants from the National Institutes of Health. The NIH already has begun writing guidelines that, among other things, are expected to demand that the cells being used were derived with proper informed consent from the woman or couple who donated the original embryo.
Collapse ArticleTurn OFF Expand/Collapse Article
Stem-cell policy change liberating to researchers- Article attached.. 3-07-2009
WASHINGTON – Eight years of frustration are close to an end for scientists seeking ways to use embryonic stem cells to combat illness and injury.
On Monday, President Barack Obama plans to reverse limits imposed by President George W. Bush on using federal money for research with embryonic stem cells.
The long-promised move will allow a rush of research aimed at one day better treating, if not curing, ailments from diabetes to paralysis — research that is has drawn broad support, including from notables like Nancy Reagan, widow of the late Republican President Ronald Reagan, and the late Christopher Reeve.
But it stirs intense controversy over whether government crosses a moral line with such research, and opponents promptly denounced the move.
Obama will hold an event at the White House to announce the move, a senior administration official said Friday. The official spoke on condition of anonymity because the policy had not yet been publicly announced.
Embryonic stem cells are master cells that can morph into any cell of the body. Scientists hope to harness them so they can create replacement tissues to treat a variety of diseases — such as new insulin-producing cells for diabetics, cells that could help those with Parkinson's disease or maybe even Alzheimer's, or new nerve connections to restore movement after spinal injury.
"I feel vindicated after eight years of struggle, and I know it's going to energize my research team," said Dr. George Daley of the Harvard Stem Cell Institute and Children's Hospital of Boston, a leading stem cell researcher.
But the research is controversial because days-old embryos must be destroyed to obtain the cells. They typically are culled from fertility-clinic leftovers otherwise destined to be thrown away.
Under Bush, taxpayer money for that research was limited to a small number of stem cell lines that were created before Aug. 9, 2001, lines that in many cases had some drawbacks that limited their potential usability.
But hundreds more of such lines — groups of cells that can continue to propagate in lab dishes — have been created since then, ones that scientists say are healthier, better suited to creating treatments for people rather than doing basic laboratory science.
Work didn't stop. Indeed, it advanced enough that this summer, the private Geron Corp. will begin the world's first study of a treatment using human embryonic stem cells, in people who recently suffered a spinal cord injury.
Nor does Obama's change fund creation of new lines. But it means that scientists who until now have had to rely on private donations to work with these newer stem cell lines can apply for government money for the research, just like they do for studies of gene therapy or other treatment approaches.
The aim of the policy is to restore "scientific integrity" to the process, the administration official said.
"America's biomedical research enterprise experienced steady decline over the past eight years, with shrinking budgets and policies that elevated ideology over science. This slowed the pace of discovery and the search for cures," said Sean Morrison, director of the University of Michigan's Center for Stem Cell Biology.
Critics immediately denounced the move.
"Taxpayers should not have to foot the bill for experiments that require the destruction of human life," said Tony Perkins of the conservative Family Research Council. "President Obama's policy change is especially troubling given the significant adult stem cell advances that are being used to treat patients now without harming or destroying human embryos."
Indeed, there are different types of stem cells: So-called adult stem cells that produce a specific type of tissue; younger stem cells found floating in amniotic fluid or the placenta. Scientists even have learned to reprogram certain cells to behave like stem cells.
But even researchers who work with varying types consider embryonic stem cells the most flexible and thus most promising form — and say that science, not politics, should ultimately judge.
"Science works best and patients are served best by having all the tools at our disposal," Daley said.
Obama made it clear during the campaign he would overturn Bush's directive.
During the campaign, Obama said, "I strongly support expanding research on stem cells. I believe that the restrictions that President Bush has placed on funding of human embryonic stem cell research have handcuffed our scientists and hindered our ability to compete with other nations."
He said he would lift Bush's ban and "ensure that all research on stem cells is conducted ethically and with rigorous oversight."
"Patients and people who've been patient advocates are going to be really happy," said Amy Comstock Rick of the Coalition for the Advancement of Medical Research.
The ruling will bring one immediate change: As of Monday, scientists who've had to meticulously keep separate their federally funded research and their privately funded stem cell work — from buying separate microscopes to even setting up labs in different buildings — won't have that expensive hurdle anymore.
Next, scientists can start applying for research grants from the National Institutes of Health. The NIH already has begun writing guidelines that, among other things, are expected to demand that the cells being used were derived with proper informed consent from the woman or couple who donated the original embryo.
Collapse ArticleTurn OFF Expand/Collapse Article
ASTM-FDA Removes Clinical Hold From Aastrom Phase II IMPACT-DCM Clinical Trial
ANN ARBOR, Mich., March 3, 2009 (GLOBE NEWSWIRE) -- Aastrom Biosciences, Inc. (Nasdaq: ASTM), a leading regenerative medicine company, today reported that the U.S. Food and Drug Administration (FDA) has removed the clinical hold from the Company's U.S. Phase II IMPACT-DCM clinical trial and that patient enrollment would resume at the four initiated clinical sites. The IMPACT-DCM trial is evaluating 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.
On March 3, 2009, the FDA informed Aastrom that it had completed its review of the Company's response to the issue cited in the FDA clinical hold letter and that the clinical hold had been lifted; therefore, the IMPACT-DCM clinical trial could resume. To date, nine of 40 patients have been enrolled in the IMPACT-DCM trial at the first three sites: The Methodist DeBakey Heart & Vascular Center, Houston, TX, Baylor University Medical Center, Dallas, TX, and The University of Utah School of Medicine, Salt Lake City, UT. In addition, the fourth site, the Cleveland Clinic Heart and Vascular Institute in Cleveland, OH, was recently initiated and trained for participation in the IMPACT-DCM trial. Activation of the fifth clinical site is underway.
"We are very grateful to the FDA for completing this review quickly and efficiently," stated George W. Dunbar, President and Chief Executive Officer at Aastrom. "With the hold removed, we will be able to resume the IMPACT-DCM trial and continue to treat these critically ill patients who have no other treatment options available. Even with this short delay, we still anticipate completing patient enrollment in this trial by the end of calendar year 2009."
IMPACT-DCM is the first clinical trial in the U.S. to evaluate the surgical delivery of autologous cells directly into the human heart muscle for the treatment of congestive heart failure associated with DCM in both ischemic and non-ischemic patients. The randomized, controlled, prospective, open-label, Phase II study seeks 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 30% (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 minimally invasive 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.
About Dilated Cardiomyopathy (DCM)
Many of the 5.5 million people in the U.S. suffering from severe heart failure have DCM, a condition where expansion of the patient's heart reduces pump function, making it impossible to maintain normal blood circulation. Patients with DCM typically have symptoms of congestive heart failure, including severe limitations in 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 upon the stage of the disease but is typically characterized by numerous health problems and a very high mortality rate.
About Aastrom Biosciences, Inc.
Aastrom is a leader in the development of autologous cell products for the repair or regeneration of human tissue. The Company's proprietary Tissue Repair Cell (TRC) technology involves the use of a patient's own cells to manufacture products to treat a range of chronic diseases and serious injuries. Aastrom's TRC-based products contain increased numbers of stem and early progenitor cells, produced from a small amount of bone marrow collected from the patient. The TRC technology platform has positioned Aastrom to advance multiple products into clinical development. The Company's ongoing development activities focus on applying TRC technology to cardiac and vascular tissue regeneration, and a Phase II clinical trial with dilated cardiomyopathy (DCM) patients (the IMPACT-DCM trial) and a Phase IIb clinical trial with critical limb ischemia (CLI) patients (the RESTORE-CLI trial) are currently underway.
The Aastrom Biosciences, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3663
This document contains forward-looking statements, including, without limitation, statements concerning clinical trial strategies, potential partnering activities, product development objectives, potential advantages of TRC technology and TRC-based products, and potential product applications, which involve certain risks and uncertainties. The forward-looking statements are also identified through use of the words "intends," "expect," "expected," "should," "anticipated," and other words of similar meaning. Actual results may differ significantly from the expectations contained in the forward-looking statements. Among the factors that may result in differences are clinical trial results, potential product development difficulties, the effects of competitive therapies, regulatory approval requirements, the availability of financial and other resources and the allocation of resources among different potential uses. These and other significant factors are discussed in greater detail in Aastrom's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.
CONTACT: Aastrom Biosciences, Inc.
Kris M. Maly
Kimberli O'Meara
(734) 930-5777
Cameron & Associates
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(212) 245-4577
Berry & Company
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@ 1.57---GRT @ 1.15 On Watch.Positive Earnings and Decent Guidance....
With the opening gap no much room to get in cheap....
PARL @ 1.30- Watching for Bounce.............
SEC sues Georgiou for $20-million (U.S.) manipulation
2009-02-12 18:09 EST - Street Wire
Also Street Wire (U-*SEC) U.S. Securities and Exchange Commission
Also Street Wire (U-AVCE) Avicena Group Inc
Also Street Wire (U-HYHY) Hydrogen Hybrid Technologies Inc
Also Street Wire (U-NOET) Northern Ethanol Inc
by Mike Caswell
The U.S. Securities and Exchange Commission has filed civil fraud charges against George Georgiou, 39, a Toronto man who allegedly made $20.9-million manipulating four companies, Avicena Group Inc., Neutron Enterprises Inc., Hydrogen Hybrid Technologies Inc. and Northern Ethanol Inc. (All figures are in U.S. dollars.) The SEC says Mr. Georgiou took the companies public on the OTC Bulletin Board and made sure he controlled all the non-restricted stock. He then allegedly paid nominees to hold the stock and execute manipulative trades at his direction.
Mr. Georgiou is currently living under house arrest in New York, while he awaits criminal fraud charges in Pennsylvania for some of the same allegations. He was arrested on Sept. 18, 2008, and later released on $2-million bond and ordered to live with his uncle on Long Island. A one-page criminal complaint and attached affidavit indicated he had manipulated stocks, but contained few details.
SEC's complaint
The SEC filed a complaint against Mr. Georgiou in the Eastern District of Pennsylvania on Feb. 12, 2009. It identifies him as a former broker who was disciplined by the Investment Dealers Association for unauthorized trading and misleading a client. The IDA banned him for 10 years on Jan. 31, 1995.
According to the complaint, Mr. Georgiou manipulated Avicena Group, a purported pharmaceutical company based in Palo Alto, Calif., between March, 2006, and November, 2007. The SEC says he agreed to invest $3-million in Avicena in April 2004, which gave him ownership of 21 million of the company's 51 million shares. He allegedly directed that the company enter into lock-up agreements with all other shareholders, so he controlled all the free-trading stock. In addition to controlling the company's stock, Mr. Georgiou allegedly obtained authority to appoint board members, which allowed him to scuttle at least two financings that could have diluted his interest, and to access news release in advance. "With advanced knowledge of press releases, Georgiou was able to time his manipulative trades to give the appearance of increased public interest in Avicena. Management allowed him to dictate when releases would be issued, and indeed, gave Georgiou significant input into the content of releases," the complaint states.
On March 24, 2006, Avicena began trading on the OTC Bulletin Board. That same day, Mr. Georgiou allegedly contacted an individual who agreed to trade at his direction, and to enlist other nominees to do the same in exchange for cash payments. "That individual, who later became a cooperating witness, was significantly involved in each of the manipulations described in this Complaint and placed numerous manipulative trades at Georgiou's direction," the complaint reads. Several communications with the co-operating witness were entered as evidence. Over the period from March 24, 2006, to Nov. 6, 2007, trading at Mr. Georgiou's direction accounted for as much as two-thirds of all trades in Avicena, the SEC says. One some days it even accounted for all of the trading. The stock stayed in the $5 to $6 range.
In April, 2008, Mr. Georgiou allegedly admitted to the co-operating witness that he had manipulated the stock. According to the complaint, he said, "[Avicena was] an artificial market -- the moment I walk away, this is a $0.50 stock." The SEC says the company ultimately fell to one cent when Mr. Georgiou stopped trading.
Another stock he allegedly manipulated was Neutron Enterprises Inc., a Montreal company that develops on-line stock market simulation contests. The SEC says he told the co-operating witness in the spring of 2004 that they could make a lot of money by manipulating Neutron Enterprises using match trades, wash sales and e-mails. "Based on Georgiou's promises to the CW to issue nonrestricted shares and to provide him with a discount in a private placement, the CW agreed to participate in the manipulation, to get others involved, to have them buy and 'park' the stock, and then to sell when directed to do so," the complaint states. The SEC says Mr. Georgiou manipulated the stock from $1.30 to $2 to $3, and kept it there for nearly three years.
According to the complaint, he closely monitored his nominees' trading activity, ensuring that they followed his instructions. "For example, in an e-mail during this time, Georgiou asked the CW for the names of the brokerage houses holding his Neutron stock so that he could 'better tell what others are doing without having to second guess,'" the complaint states.
In March, 2007, Mr. Georgiou stopped paying attention to the stock, and it started to decline, the SEC claims. He allegedly told the co-operating witness that he was sorting out "various issues" with Avicena, and Neutron was slipping because he could not "give it any focus." Without Mr. Georgiou's support, the stock slid to 28 cents, and later to 1.5 cents, the SEC says.
The SEC also alleges that he manipulated two other companies, Toronto-based Northern Ethanol and Hydrogen Hybrid Technologies, in a similar fashion. With Hydrogen Hybrid, he also allegedly arranged for a mailer urging investors to buy the company. According to the complaint, the mailer touted the company as helping investors "make huge profits" while "helping to save the planet." The SEC claims the mailer failed to disclose that Mr. Georgiou had paid for most of the costs.
On Aug. 13, 2008, the co-operating witness introduced Mr. Georgiou to an undercover FBI agent, who said he could assist with the manipulation, the complaint states. The agent said he had connections to corrupt registered representatives who could purchase Northern Ethanol in customer accounts. "During the meeting, Georgiou stated that he would pay a 25 percent kickback to the UA in exchange for generating retail purchases of Northern Ethanol. Georgiou proposed that the UA commence a $10 million buying campaign into which Georgiou could simultaneously sell his holdings," the complaint states. Mr. Georgiou arranged a test trade, in which the FBI bought 15,000 shares at $1.11 on Sept. 3, 2008, the SEC says. After the trade, Mr. Georgiou allegedly wired a $5,000 kickback to an FBI-controlled bank account. One week later, on Sept. 18, 2008, the FBI arrested him. Most of the details of the alleged manipulation were not released until now.
The SEC is seeking an order permanently banning Mr. Georgiou from participating in penny stock offerings. It is also seeking payment of disgorgement plus appropriate civil penalties.
In a separate order issued on Feb. 12, 2009, the SEC halted the four stocks Mr. Georgiou allegedly manipulated, citing questions about the ownership and control of each company.
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GRT @ 1.15 On Watch.. Positive Earnings and Decent Guidance....
Watching CMZ for Bottom.. @.45............
still dropping
Is this the New Spot ??..............