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Bacterin and RyMed Collaborate and Receive FDA Consent to Commercialize Antimicrobial Needleless Connector
BELGRADE, Mont., Aug. 10 /PRNewswire-FirstCall/ -- Bacterin International Holdings, Inc. ("Bacterin" or the "Company") (OTC Bulletin Board:BIHI.ob - News), a developer of antimicrobial coatings for medical applications and revolutionary bone graft material, today announced that the U.S. Food and Drug Administration (FDA) has cleared RyMed Technologies' InVision-Plus® CS™ needleless IV connector for commercialization.
In a joint development project between RyMed and Bacterin, the InVision-Plus CS is treated with Bacterin's patented antimicrobial technology. The InVision-Plus CS is the only needleless IV connector to offer the combined antibacterial protection of chlorhexidine and silver. The device is designed to reduce potentially deadly, catheter-related bloodstream infections.
Bacterin has received an initial order for the InVision-Plus CS with full production expected by the fourth quarter of 2010. Bacterin will receive a royalty on all devices treated for RyMed.
Commenting on the FDA clearance, Mr. Dana W. Ryan, RyMed's president and CEO, said, "Our companies have put in a tremendous effort over several years to develop the InVision-Plus CS connector, combining RyMed's InVision-Plus technology with Bacterin's chlorhexidine/silver ion engineering. This product has the potential to take over the market and give clinicians a clear choice to protect their patients worldwide."
RyMed's InVision-Plus and InVision-Plus CS are needleless IV connectors designed to address intraluminal thrombotic catheter occlusion and catheter-related bloodstream infections. This proprietary needleless connector design is combined with Bacterin's unique patent-pending antimicrobial septa treatment that is effective for the life of the connector against the following microorganisms: Acinetobacter baumannii, Methicillin-resistant Staphylococcus aureus, Staphylococcus aureus, Escherichia coli, Candida albicans, Klebsiella pneumoniae, Pseudomonas aeruginosa, and Staphylococcus epidermidis.
According to the Institute of Medicine in Washington, DC, preventable adverse events in the U.S., including hospital-originated infections, are responsible for 44,000 - 98,000 deaths annually. Hospital-developed infections involve 5% - 15% of patients, and more than 85% of primary bacteremias (the presence of bacteria in the bloodstream) are catheter related.
Last week, the FDA stated it is requiring makers of most IV needleless connectors to examine and report potential risks associated with the devices. One of the companies not mentioned in the FDA notice was RyMed Technologies.
As of October 2008, Medicare and Medicaid do not reimburse hospitals for the treatment of catheter-related bloodstream infection, which are estimated to cost approximately $40,000 per incident to treat. Hospitals within 28 states are now required to report their infection rates, and this practice is expected to be applied nationwide.
Mr. Guy Cook, Bacterin's President & CEO, added, "The FDA is addressing a serious issue in the industry. It has been estimated that as many as 30,000 patients die annually from catheter-related infections. Our two companies have created and are now at the point of commercializing a solution to a deadly problem. In 2001, as a result of a revision in the Bloodborne Pathogen Standard, the use of needleless systems was adopted by most healthcare facilities. In 2009, the U.S. market for vascular access devices and accessories was valued over $3 billion, a 5.4% increase over 2008; however, antimicrobial needleless connectors, a new addition to the market, represented only 0.02% of all needleless connectors in 2009. Today, with FDA support and the reimbursement changes by Medicare and Medicaid, we anticipate a tremendous need for our products."
Galaxy Gaming Reports Record Second Quarter Results
Company Posts Its First Profitable Quarter
LAS VEGAS, Aug. 10, 2010 (GLOBE NEWSWIRE) -- Galaxy Gaming, Inc. (OTCBB:GLXZ - News) announced today its results for the second quarter ended June 30, 2010:
Q-2 2010 vs. Q-2 2009 Financial Highlights
* Total Revenue of $736K increased by 9% or $61K from $674K a year ago.
* Recurring Revenue of $723K increased by 18% or $111K from $611K.
* Gross Profit of $725 increased by 19% or $121K from $610K.
* Gross Margins of 99% compared to 90%.
* Positive EBITDA of $56K increased from negative EBITDA of ($22K).
* Net Profit of $21K compared to a Net Loss of ($155K).
Q-2 2010 vs. Q-1 2010 Financial Highlights
* Recurring Revenue increased 2%. This marks the ninth consecutive quarter of increased recurring revenues.
* Gross Profit increased 3%.
* Gross Margins increased to 99% compared to 94%.
* Positive EBITDA of 56K compared to negative EBITDA of ($71K).
* Net Profit of $21K compared to a Net Loss of ($100K).
Balance Sheet Highlights
* Cash balance of $579K increased compared to $117K at 6/30/09.
* Current Liabilities have been reduced to $967K from $1,397K at 6/30/09.
* Positive Working Capital position of $242K versus Negative Working Capital of ($519K) at 6/30/09.
Andrew Zimmerman, Galaxy Gaming's CFO, commented, "Near the end of the first quarter, our entire team committed to taking the necessary steps to achieve profitability. Recurring revenues and gross profit margins increased, and conversely, expenses decreased, thereby contributing to our improved results in the second quarter."
"We recognize the primary objective of any company is to make a profit," stated Robert Saucier, CEO of Galaxy Gaming. "Now our attention turns to implementing some of the growth initiatives we previously identified and to continue to build our recurring revenues. We remain particularly excited about the potential of our Inter-Casino Jackpot Network and believe that it could significantly drive future revenues and profits."
Today's Conference Call
The Company will hold a conference call to discuss its results today at 2:30 p.m. PT (5:30 p.m. ET). The call will be accessible by calling (877) 852-6580. The conference call ID is 3094295.
its been trading for over a year...yahoo can be inaccurate with charts
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=glxz&sid=0&o_symb=glxz&x=0&y=0
seller may have been cleaned up today
really good cc today..my guess is we gain 1.5m members in july
Bought a few more today at 22c
if you could record todays call it would be appreciated. I won't be able to be on the call today.
Investor CC today at 2pm EST 800-867-0938
record traffic yesterday http://www.quantcast.com/quepasa.com
I own quite a bit of stock in this name. They did $7.8 million in revenues in 2009 and think they can do $20 million in 2010. It's in a sweet spot with the older demographic needing more and more orthopedic surgeries.
Stock will be illiquid until shares get freed up from the PIPE I participated in at $1.60 (around year end 2010 most likely), so the stock can trade anywhere until then. Not saying its a buy at $3 here at this time..a good buy around $2.
Only information out there on the company so far is this 8k:
http://www.sec.gov/Archives/edgar/data/1453593/000114420410036960/v189893_8k.htm
Q2 will be out before August 15th..
Yes it is. Met the management. They think they can double revenues this year and be profitable for the year.
interesting story, bought a few shares the last couple weeks
It's $4 for nasdaq as I've helped a few companies in that process. For nasdaq they don't hit the stockholders equity requirements.
http://www.nasdaq.com/about/nasdaq_listing_req_fees.pdf
See page 12
For Amex, they waive the stockholder equity requirement if your market cap is over 75 million or in QPSA's case would have to trade over $5.75ish......so as of now looks like the only way for uplisting is for AMEX and need the stock over 5.75 which shouldn't be that hard if John keeps executing like hes been.
http://www.amex.com/israel/en/listing.jsp
The conference overall wasn't well attended in my opinion. Sidoti had 7 or 8 presentations going on at once which I always hate. Each room held maybe 25 people max. I would say there were 10-15 people in the QPSA presentation. GAXC, another investment of mine had around the same, and I listened to a few others where there were less then 8 people in the audience.
This was the second time I met John Abbott (first time in Las Vegas in April), and he was very impressive as usual.
chatted with john today at the conference..
http://iancassel.com/2010/06/25/chatted-with-quepasa-corp-qpsa-ceo-john-abbott/
patience..nothing is going to happen overnight in regards to the lawsuit...the latest the court date would be is likely Feb/March 2011. The story and the value proposition in BULM is phenomenal on the stock without a litigation win. It's one you just buy and tuck away.
South Africa Gold Production Declines Sharply http://bit.ly/aZSLMk
I own 3% of VSRV via open market purchases in January and recently announced PIPE http://bit.ly/cpsBJf Interesting story in this market...growing revenues 10-20% qtr/qtr while keeping company at cashflow breakeven is rather impressive especially in this market. Looking to hold for a year or two to see what they can do with this small cash infusion.
that is a good point and is the reason why royalty companies like RGLD and FNV.TO trade at rediculous PE's
..also interesting from post by ajsterling blurb "partially offset by higher royalties"
thats not why he posted that...look at the total ounces out of the carlin just from newmont and a lot of that falls within their BULM's 256 sq miles which is under litigation with Newmont..not to mention other companies mines
bought a few more shares this week under 4.10. Thought you also find this interesting...
http://iancassel.com/2010/05/26/zoosk-com-and-quepasa-com-a-match-made-in-heaven/
one of the most interesting things is that gold is most widely priced in US dollars and even with the dollars huge rally of late Gold is still rallying and very close to its high. What happens when the dollar finally starts to fall. Likely Gold will continue to rise.
wrote this article a couple weeks ago on the macro trends as I see it. It's wild that the events that took place just after writing it solidifies my thought process even more.
http://iancassel.com/2010/05/09/some-thoughts-on-the-macro-economy/
basically what they are doing is tweaking the pilot plant. It is a completely new technology and plant so every part of the pilot plant has been fabricated from scratch. I think the "tweaking" with the pilot plant could take most of this year before they have the output they want. If they are successful, they will then look to do a feasibility study (ie basically a detailed report giving capex projections and P/L projections for the big plant) which when completed they will show to major investors/companies. They will likely do the licensing route as its the most cost effective. Again ALOT has to be done to get from where we are today to a completed feasibility study. The good news is most if not all of the capex for this pilot plant ($2-3 million) has already been spent. Just adds to the blue sky with no real risk since the money has already been spent. If successful its a game changer but they have a long way to go.
no not really but its big money versus small money
yes it is true..the judge must get back to BULM by September with a court date and the court date will likely be within 6 months of that so lets call it by Feb 2011 at the latest..
Here is an aerial photo of the 256 sq mile area of interest
http://iancassel.com/wp-content/uploads/2010/03/Carlin-Maps-13.pdf
That said that photo doesn't even give it justice. When i visited BULM they had maps showing where the current/old/future mines exist in that area. Needless to say it looked like their were quite a few mines located in this area.
I actually believe a win against Newmont is 50/50 from what I've learned, and those aren't bad odds for a lottery ticket that will pay out 10x+ if successful.
If they win my guess is they get $30-40 million in back royalties plus another $10 million per annum (for 60-70 years) which will likely increase as new mines come online. So you can see how a $500 million, $1 billion, maybe even $2 billion payday isn't that far fetched.
regards,
IC
its not a question of bad management, they just need to do more to get the word out to new investors, and its really their fiduciary duty to do so. They know this and are starting to do it.
that is the only thing wrong with the story and the reason the stock isn't $1.50 right now...bidding for some at 73c
The IR guy is Joe Morris, the youngest son I believe. A good guy. I met all of them when I traveled out to Utah to meet them. If you talk to him again push him to get the word out on the company. They need to be Presenting (not just a booth) the BULM story once a month to new investors via conferences. Remember the reason the stock is so cheap is because no one knows about it and the reason we all own this stock is the hope that it will become overvalued. The key element is the management team hitting the pavement and getting the word out.
IC
April 30th is their fiscal year end, so they have 90 days to report their 10K (end of July).
and that doesn't include Barrick and others who own mines in that 256 sq miles. Since the BULM/NEM agreement in 30 years ago, NEM has since sold off pieces to other mining companies without disclosing BULM interest. Hence why BULM is going after NEM, and Barrick/others are next.
IC
Mentioned BULM in my most recent article and also added shares this week.
http://iancassel.com/2010/05/15/week-in-review-have-some-gold-exposure/
Good report out today. If QPSA can prove they can monetize their members via social games/apps it will increase their per member valuation greatly (from $10 per to $20+ per). This is what the analysts/institutions are waiting for. I'm looking forward to the first games being rolled out later this quarter and into Q3.
http://iancassel.com/wp-content/uploads/2010/05/QPSA-Ladenburg-RR-update.pdf
Kevin is at sundance with Stephane (poken). Lee and Eugene were in China. They got back a couple days ago I believe.
I don't see even one error. Check out my disclaimer.
You can't win a pissing contest with a skunk.
GelTech Solutions Exhibiting With Fisher Safety at the Fire-Rescue EAST 2010 in Daytona Beach, Florida
http://money.cnn.com/news/newsfeeds/articles/globenewswire/182346.htm
Electronic Game Card, Inc. to Introduce POKEN at The Sundance Film Festival 2010
http://finance.yahoo.com/news/Electronic-Game-Card-Inc-to-prnews-3961062868.html?x=0&.v=1
I own 4% of the company http://bit.ly/7x6AGS
insider buys and sells can be confusing..sometimes they sell stock to exercise options..and in cases like the cordani's..they are all in on GLTC...their salaries are reasonable and quite frankly sometimes you just need $10k to pay for college tuition or whatever...as long as its not flagrant selling I don't' get too worried about it
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