PWRM, Power 3 Medical Products Inc., PWRM.OB
PWRM is a leading bio-technology company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases such as Alzheimer's disease, Parkinson's disease and amyotrophic lateral sclerosis (commonly known as ALS or Lou Gehrig's disease). Power3 applies proprietary methodologies to discover and identify protein biomarkers associated with diseases.
Through these processes, PWRM has developed a portfolio of products including BC-SeraPro™, a proteomic blood serum test for the early detection of breast cancer for which it has completed Phase I clinical trials, and NuroPro®, a proteomic blood serum test for the detection of neurodegenerative diseases, including Alzheimer's, Parkinson's, and ALS diseases, for which it is currently engaged in Phase II clinical trials. These tests are designed to analyze an individual's proteins to detect the presence of disease, a patient's disease progression, a patient's response to a particular drug, and the mechanisms of disease present in the patient for optimal targeted therapy.
** PWRM Announces Update on Upcoming Acquisition of Rozetta-Cell Life Sciences **
PWRM's management believes it is making great progress in its focus on the development, sales, and marketing of its proprietary innovate diagnostic tests for breast cancer, pancreatic cancer, ovarian cancer, colon cancer, and certain neurodegenerative diseases, such as Alzheimer's and Parkinson's, to name a few.
In addition, PWRM is a party to several litigation matters, most of which relate to various toxic debt instruments that were entered into by PWRM several years ago when it operated under the tenure of Chairman and CEO, Steven B. Rash. Because current management believes these toxic debt instruments are responsible for PWRM's depressed stock price and have distracted the company from its mission, PWRM plans to settle as many of these nagging lawsuits as possible prior to the completion of its merger with Rozetta-Cell Life Sciences, Inc. As for those lawsuits that cannot be speedily resolved, PWRM will continue to rigorously defend its position. For example, one such lawsuit involves Neogenomics, Inc., which was recently granted a motion for summary judgment with respect to an amount due under a convertible debenture. Power3 intends to appeal this decision.
"We are very excited to be finally ridding ourselves of litigation that has plagued us for several years now," stated Ira L. Goldknopf, President and Chief Scientific Officer of PWRM "We have big plans for the future beginning with our upcoming acquisition of Rozetta-Cell and are about to enter a long and substantial growth phase marked by advances in our science and intellectual property. Given the imminent nature of many of these transactions and breakthroughs, we have decided, in consultation with the financiers of Rozetta-Cell, that the best course of action for Power3 is to settle many of these lawsuits so that we can focus our attention exclusively on the acquisition of Rozetta-Cell and the development of our combined businesses after the merger."
Rozetta-Cell Life Sciences, Inc. is a medical biotechnology company that focuses on the delivery and imaging of stem cells during therapy. PWRM plans to effect the acquisition of Rozetta-Cell by merging Rozetta-Cell with and into PWRM, with PWRM remaining as the surviving company. The acquisition of Rozetta-Cell is expected to be completed in February 2011.
More about PWRM at www.power3medical.com.
AVOT, American Video Teleconferencing Corp., AVOT.PK
The 17 elements that are classified as "rare earth" are becoming an increasingly crucial aspect of our day-to-day lives. Rare earth metals are definitely the life blood of modern computers, batteries and alternative energies. For instance, you'll find nearly 10 pounds of the rare earth element, lanthanum, in each and every Toyota Prius engine. In addition, rare earth elements are essential to military technologies. Contrary to the name, rare earth metals aren't particularly uncommon and can be found in nearly all region. In recent weeks the us government made important measures to increase production of these types of metals, as they will play a significant part in President Obama's overhaul of United states energy.
AVOT recently reported that it is presently in final discussions to enter into a formal agreement to acquire an exclusive option on a molybdenum property in the Otter lake area in the province of Quebec, Canada.
The property has been dormant since the 1960's when Hupon Mining and Exploration carried out surface work, stripping, trenching and a minor drill program of 445 feet contained in 11 drill holes. Some of the sample results from the trenching in 1962 showed 0.94% to 25% molybdenum averaging 5-10%. These values were obtained from assessment files in the Department of Mines in Quebec City.
China is the world's major producer of rare earth elements, practically all of which are used in modern technology, which include new energy sources and hybrid cars. It announced in July that it's going to cut exports for minerals used to make hybrid cars and televisions by 72% during the 2nd half of the year.
China has started to drastically reduce the exports of rare-earth materials, which frequently are used in “green” technology designs, including hybrid vehicles and energy-efficient lighting, as well as in the healthcare, defense, and consumer markets. The nation supplies nearly 100% of the world’s rare-earth materials: 17 metals which are difficult to refine and that tend to occur in the same ore deposits. The cutbacks have sent shock waves through the electronics industry and could force design changes in the near future.
Constraints on Chinese exports are generating opportunities for non-Chinese projects.
Synergetics USA, Inc. (Nasdaq:SURG) reported recently its results for the first quarter ended October 31, 2010. The Company reported first quarter 2011 sales of $12.1 million and net income of $633,000, or $0.03 per diluted share.
Synergetics USA, Inc., a medical device company, engages in the design, manufacture, and marketing of microsurgical instruments and consumables primarily for ophthalmology and neurosurgery markets in the United States and internationally. The company?s product lines focus upon precision engineered, microsurgical, handheld devices, and the microscopic delivery of laser energy.
China Techfaith Wireless Communication Technology Ltd. (Nasdaq:CNTF) reported recently the implementation of a major joint venture development project with the ShenYang PuHe New Town Administration Committee ("PuHe"). As part of the joint venture, TechFaith has undertaken to invest RMB 100 million in each of the years 2011 and 2012, while PuHe has undertaken to invest RMB 20 million in each of the years 2011 and 2012. In addition, PuHe has also agreed to provide up to RMB 10 million to TechFaith as an investment incentive. The joint venture entity, TecFace Sport Mobile Limited ("TecFace"), will be located in ShenYang, the largest city in Northeastern China. PuHe will have a 16.7% ownership interest in the joint venture, with TechFaith holding the remaining 83.3%.
China Techfaith Wireless Communication Technology Limited, together with its subsidiaries, operates as an original developed products provider that is focused on the original design and development of handsets, and sale of finished products in the People's Republic of China and internationally.
Stanley Furniture Co. Inc. (Nasdaq:STLY) reported recently that it has pre-paid in full its outstanding debt under its note agreement with Prudential Insurance Company of America and other lenders. The amount prepaid was $15 million plus accrued interest. In connection with the prepayment, the lenders agreed to waive the yield-maintenance premium due on prepayment provided under the note agreement. The Company indicated that cash on hand after the debt prepayment was approximately $19 million.
Stanley Furniture Company, Inc., together with its subsidiaries, designs and manufactures residential wood furniture products in the United States. It provides adult furniture product selections, including dining, bedroom, home office, home entertainment, and accent items under the Stanley Furniture name.
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