Keystone Capital Corporation partners with t0 in first public issuance of blockchain equities
Overstock (NASDAQ:OSTK)
Today : Thursday 15 September 2016
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t0 announced that Keystone Capital Corporation, a securities broker dealer located in San Diego, Calif., has selected t0’s blockchain-based trading technology as part of its brokerage service’s support of a blockchain preferred share offering from Overstock.com, Inc. t0 logo.jpg
“It’s no secret that Overstock’s own financial technology subsidiary, t0, has been working on a blockchain version of Wall Street, and that Overstock desires to demonstrate its system by issuing a security of its own on the technology it is creating. Keystone Capital has aligned with us in this historic effort,” said Overstock.com CEO Patrick M. Byrne. Overstock.com (NASDAQ:OSTK) is the parent company of t0.
Under the license agreement with t0, Keystone Capital will provide brokerage services for market participants seeking to trade blockchain securities. t0 technology will allow investors to create digital trading accounts with Keystone upon commencement of Overstock’s issuance subscription period, to be announced.
“Keystone Capital is a visionary company that grasped immediately the importance of the revolutionary technology we’ve built,” said Jonathan Johnson, chairman of Overstock.com’s board of directors and president of the company’s Medici cryptotechnology subsidiary. “It’s been a pleasure working with such a forward-leaning firm.”
For its part, Keystone Capital found the opportunity to participate in the world’s first blockchain-based public equities issuance to be an important step.
“We are very excited to be a part of this cutting-edge opportunity. Everyone speaks about using blockchain technology, but very few are actually making it happen. We are also thoroughly enjoying working with such a talented group of technologists on the t0 team,” said Steven Capozza of Keystone Capital.
Medici, Inc. is Overstock.com’s majority-owned financial technology subsidiary, focusing on applying blockchain technology to solving important financial transaction problems, particularly in the area of securities settlement. Overstock.com made financial history in June 2015, as the first public company to issue a private security using blockchain technology. In December 2015, the SEC declared parent company, Overstock.com’s S-3 filing effective, giving Overstock.com the ability to issue blockchain shares in a public offering.
The securities described above will be offered by Overstock pursuant to a shelf registration statement on Form S-3, as amended, previously filed with and declared effective by the United States Securities and Exchange Commission (SEC). A prospectus supplement related to the offering will be filed with the SEC. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About t0.com t0 (pronounced tee-zero) is a majority owned subsidiary of Overstock.com, focusing on the development and commercialization of financial technology (FinTech) based on cryptographically-secured, decentralized ledgers – more commonly known as blockchain technologies. Since its inception in October of 2014, t0.com has pioneered the effort to bring greater efficiency and transparency to capital markets through the integration of blockchain technology. More information is available at t0.com.
About Overstock.com Overstock.com, Inc. (NASDAQ:OSTK) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, rugs, bedding, electronics, clothing, and jewelry. Worldstock.com is dedicated to selling artisan-crafted products from around the world whereas Main Street Revolution supports small-scale entrepreneurs in the U.S. by providing them a national customer base. Overstock has additional community-focused initiatives such as a Farmers Market and pet adoptions. Forbes ranked Overstock in its list of the Top 100 Most Trustworthy Companies in 2014. Overstock sells internationally under the name O.co. Overstock (http://www.overstock.com and http://www.o.co) regularly posts information about the company and other related matters under Investor Relations on its website.
About Keystone Capital Corporation Keystone Capital Corporation is an independent broker-dealer located in San Diego, California. For more than thirty years Keystone has been home to top industry professionals. Keystone conducts business by combining old-school business philosophies with superior technology and resources. Keystone (www.kccbd.com) is a Member of FINRA, SIPC and Registered with The MSRB. Check the background of this firm at www.finra.org/brokercheck.
O, Overstock.com, O.com, O.co, Club O, Main Street Revolution, Worldstock Fair Trade, Worldstock, and OVillage are registered trademarks. O.biz, Club O Dollars, and OGlobal are trademarks of Overstock.com, Inc. The Overstock.com, Club O, and Worldstock Fair Trade logos are also registered trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company's Form 10-K for the quarter ended December 31, 2015, which was filed with the SEC on March 8, 2016, and any subsequent filings with the SEC.
Overstock.com, Inc. has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the applicable prospectus supplement for any securities offered pursuant to the registration statement, and other documents that Overstock.com, Inc. has filed or files in the future with the SEC for more complete information about Overstock.com, Inc. and the offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, Overstock.com, Inc. will arrange to send you the prospectus if you request it by calling 1-801-947-5409.
Media Contact: Judd Bagley, t0.com +1 (801) 947-5352 jbagley@t0.com
Cellceutix Announces Appointment of Vice President for Regulatory Affairs
BEVERLY, MA – (Marketwired –September 16, 2016) Cellceutix Corporation, (OTCQB: CTIX) (“the Company”), a clinical stage biopharmaceutical company developing innovative therapies with dermatology, oncology, antibiotic, and anti-inflammatory applications, is pleased to announce today the appointment of LaVonne Lang, DrPH, to the role of Vice President, Regulatory Affairs.
Dr. Lang has over twenty-five years of experience in a variety of specialty roles with a focus in several different therapeutic areas in pharmaceutical development. Dr. Lang received a BSN, a MPH (Environmental and Industrial Health: sub-specialty in Toxicology), and a DrPH (Health Management and Policy) from The University of Michigan. She served as study coordinator at the University of Michigan Hospital, overseeing clinical trial research in Pediatric Endocrinology. Upon joining Warner-Lambert Parke-Davis, her work included study director and writer in Pathology and Experimental Toxicology as well as Clinical Communications. As Director of Regulatory Affairs at Parke-Davis/Pfizer, she was therapeutic area lead in gene therapy and dermatology.
For the last seven years, Dr. Lang has been a consultant, providing FDA liaison support and serving as head of regulatory for companies focusing on a variety of therapeutic areas, including cardiovascular, metabolic, and inflammatory disease.
She joins an expanding senior management team at Cellceutix, further complementing the recent hiring of pharmaceutical executive, Arthur P. Bertolino, MD, PhD, MBA, as President and Chief Medical Officer, and Jane Harness, MS, MP, as VP, Clinical Sciences and Portfolio Management.
“I am excited to join Cellceutix,” commented Dr. Lang, “and work with this team of professionals to help advance investigational products toward FDA approval in areas that could have a positive impact on the public’s health.”
“LaVonne is a fantastic addition to our team,” said Dr. Bertolino. “With our lead drug candidates approaching pivotal, later-stage FDA trials, LaVonne’s leadership in regulatory affairs will be of paramount importance as we continue to work closely with our research partners and the FDA towards further validating our drug candidates. The professional relationships that she has built over the years at the FDA, coupled with her extensive clinical and regulatory knowledge, should help ensure that lines of communication with the agency remain open and productive.”
Leo Ehrlich, Chief Executive Officer of Cellceutix added, "The strengthening of our senior management team by adding proven industry veterans will help us execute more expediently all of our business objectives.”
About Cellceutix Headquartered in Beverly, Massachusetts, Cellceutix is a publicly traded company under the symbol "CTIX". Cellceutix is a clinical stage biopharmaceutical company developing innovative therapies in multiple diseases. Cellceutix believes it has a world-class portfolio of compounds and is now engaged in advancing its compounds and seeking strategic partnerships. Cellceutix's anti-cancer drug Kevetrin concluded a Phase 1 clinical trial at Harvard Cancer Centers' Dana Farber Cancer Institute and Beth Israel Deaconess Medical Center, and Cellceutix is now preparing its plans for a Phase 2 study. In the laboratory Kevetrin has shown to induce activation of p53, often referred to as the "Guardian Angel Gene" due to its crucial role in controlling cell mutations. Cellceutix is in a Phase 2 clinical trial with its novel compound Brilacidin-OM for the prevention of Oral Mucositis in patients with head and neck cancer. Brilacidin-OM, a defensin mimetic compound, has shown in an animal model to reduce the occurrence of severe ulcerative oral mucositis by more than 94% compared to placebo. Cellceutix's anti-psoriasis drug Prurisol completed a Phase 2 trial and Cellceutix is now setting up a Phase 2b study. Prurisol is a small molecule that acts through immune modulation and PRINS reduction. Cellceutix's lead antibiotic, Brilacidin, has completed a Phase 2b trial for Acute Bacterial Skin and Skin Structure Infections, or ABSSSI. Top-line data have shown a single dose of Brilacidin to deliver comparable clinical outcomes to the FDA-approved seven-day dosing regimen of daptomycin. Brilacidin has the potential to be a single-dose therapy for certain multi-drug resistant bacteria (Superbugs). Cellceutix has formed research collaborations with world-renowned research institutions in the United States and Europe, including MD Anderson Cancer Center, Beth Israel Deaconess Medical Center, and the University of Bologna. More information is available on the Cellceutix web site at www.cellceutix.com.
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