Seelos Therapeutics Inc (SEEL): NEWS!! 18:36 AM ET NexMed: Tax Credit Sa...

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Re: marc0003 post# 1088

Tuesday, 11/18/2008 9:28:11 AM

Tuesday, November 18, 2008 9:28:11 AM

NEWS!! 18:36 AM ET NexMed: Tax Credit Sale Expect To Net $937,000 In Cash >NEXM
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18:35 AM ET NexMed Approved To Sell N.J. Tax CreditsDow Jones
EAST WINDSOR, N.J.--(BUSINESS WIRE)--NexMed, Inc. (Nasdaq: NEXM - News), a developer of innovative products based on the NexACT® drug delivery technology, today announced that it has been approved by the State of New Jersey to sell a portion of its state tax credits and net operating losses (NOLs) pursuant to the Technology Tax Certificate Transfer Program. Specifically, the Company has been approved to sell $1,053,547 in 2008.
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“We are extremely pleased that NexMed has been selected to participate in this year’s program. The sale, which is expected to net approximately $937,000 in cash to the Company by mid-December, will further strengthen our capital reserves,” said the Company’s Chief Financial Officer, Mark Westgate.

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