Proteonomix, Inc. (OTCPK:PROT)
PROT, a biotechnology company focused on developing therapeutics based upon human cells and their derivatives, announced further developments with its Joint Venture Company, XGEN Medical LLC ("XGen") towards implementing operations in the United Arab Emirates (U.A.E.).
PROT is the majority shareholder in XGen with the balance held by an anonymous investor group. PROT personnel were on the ground in the U.A.E. over the past weeks to work together with the Investor Group through the start up phase. To date, XGen has established an office in the Monarch Office Tower on the prestigious Sheikh Zayed Road, and a residence for visiting PROT personnel on Jumeira 2.
During initial meetings, it was mutually decided to open a local subsidiary corporation in the Dubai free zone. This wholly owned subsidiary will be the vehicle to conduct business in the GCC countries. XGen has filed the corporate papers and has established banking relations with a local bank both for receipt of the initial investment of $5 million and towards further financing expanded services in the region. The Ramadan holiday has slowed progress slightly on these corporate formalities, but full operation of the subsidiary and bank accounts are expected to complete within 30 days.
It was further announced that XGen has expanded its talks within the region beyond a license for manufacture of and treatment with PROT cellular material. Discussions are now further encompassing both the construction of XGen's own manufacturing and treatment facility within the U.A.E. and on funding phased trials for one or more of PROT's proprietary cellular materials for treatment of disease.
PROT CEO, Michael Cohen commented that "The business environment in the U.A.E. is very receptive to Proteonomix and our medical technologies. There is an intense focus on high quality public medical care as well as cutting edge technology. When combined with the rebounding financial condition within the region, we are very pleased to have this opportunity to conduct business in a growing location for medical advancement."
PROT, a biotechnology company, engages in the development of stem cell therapies primarily for the treatment of diabetes and cardiac therapy, as well as offers cosmeceutical products. The stem cell therapy involves the introduction of healthy new stem cells to repair and replace damaged or lost cells. It offers product for the treatment of anti-aging and damaged skin. PROT develops cosmetic products using its technologies, Secreted Matrix and Matrix NC-138 that is a stem cell derived proteins technology. PROT is also involved in the operation of retail Web site, Proteoderm.com to sell its anti-aging line of skin care products; develops therapeutic modalities for the treatment of cardiovascular disease; and engages in the reproductive tissue banking, including sperm, ova, ovarian tissue, and testicular tissue. In addition, PROT develops intellectual properties for patent applications, including a medium and scaffolding for enhancing the growth of stem cells, a growth platform for stem cells, a cord blood banking cryopreservation bag, and a device to eliminate malformed stem cells via filtration. Further, PROT is developing pre-clinical-stage therapeutic agents and treatments for cancer, diabetes, heart, lung, and kidney diseases, as well as for stem cell bone marrow and organ transplants. PROT was formerly known as National Stem Cell Holding, Inc. and changed its name to Proteonomix, Inc. in August 2008. PROT was founded in 2005 and is based in Mountainside, New Jersey.
To learn more about PROT visit: http://www.proteonomix.com
Security National Financial Corporation (NASDAQ:SNFCA)
SNFCA announced financial results for the second quarter ended June 30, 2010.
SNFCA announced revenues of $43,425,000 for the three months ended June 30, 2010. This represents a 25% decrease from 2009. Pre-tax earnings from operations for the three-month period decreased 98% from $4,484,000 in 2009 to $85,000. After tax earnings decreased 86% from $3,090,000 in 2009 to $419,000 in 2010.
SNFCA, together wit its subsidiaries, provides various insurance and annuity products in the United States. SNFCA operates in three segments: Life Insurance, Cemetery and Mortuary, and Mortgage Loans. SNFCA was founded in 1965 and is headquartered in Salt Lake City, Utah.
To learn more about SNFCA visit: http://www.securitynational.com
SEI Investments Company (Nasdaq:SEIC)
SEIC recently announced it has launched Ready-4-Reform, a program to help advisors prepare for the new regulatory environment and pending legislative changes. The program, offered by the SEI Advisor Network and run by the unit's Practice Management team, includes a four-stage process: Review, Revise, Retool, and Reconnect. SEIC developed Ready-4-Reform based on feedback from advisors and results of a survey that found advisors are overwhelmed and unsure how the new regulations will impact their businesses. Nearly three-quarters of the 144 advisors surveyed are either 'not familiar' or 'somewhat familiar' with the impact of financial reform. Less than one-tenth said they are 'very familiar' with financial reform regulations.
SEIC provides investment processing, fund processing, and investment management business outsourcing solutions to corporations, financial institutions, financial advisors, and high-net-worth families. SEIC offers its products and services through sales representatives primarily in the United States, Canada, the United Kingdom, the continental Europe, South Africa, and Asia. SEIC was founded in 1968 and is headquartered in Oaks, Pennsylvania.
To learn more about SEIC visit: http://www.seic.com
Select Comfort Corporation (NASDAQ:SCSS)
SCSS recently reported second quarter results for the period ended July 3, 2010. Net sales for the quarter totaled $139 million, an increase of 15 percent on same-store growth of 28 percent, compared to $121 million in the second quarter of 2009. SCSS reported net income of $6.2 million, or $0.11 per diluted share in the second quarter of 2010, compared to a net loss of $4 million, or $0.09 per diluted share, in the second quarter of 2009.
SCSS develops, manufactures, markets, and distributes adjustable-firmness beds and other sleep-related accessory products in the United States, Alaska, Hawaii, Canada, and Australia. SCSS offers its mattresses under the Sleep Number brand name. SCSS also provides a line of accessory bedding products, including specialty pillows, mattress pads, comforters, sheets, and leg options. SCSS distributes its products through retail, direct marketing, and e-commerce channels. As of January 2, 2010, SCSS had 403 company-owned stores and 146 retail partner doors. SCSS was founded in 1987 and is headquartered in Minneapolis, Minnesota.
To learn more about SCSS visit: http://www.selectcomfort.com
Signup for FREE Daily Stock Alerts From CRWEFinance.com/signup
THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY!
Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. CRWEFinance.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold CRWEFinance.com report and Crown Equity Holdings Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (Read more at http://crwefinance.com/disclaimer) Rule 17B requires disclosure of payment for investor relations. Crown Equity Holdings Inc. (OTCPK:CRWE) is a newswire as well as an IR and PR firm. Crown Equity Holdings Inc. (OTCPK:CRWE), in some cases, provides media advertising and public awareness for both public and private companies, as well as disseminating news. As such, in some cases, when Crown Equity Holdings Inc. (OTCPK:CRWE) advertises for a particular client, Crown Equity Holdings Inc. (OTCPK:CRWE) charges an advertising fee which it must disclose under 17B. The fee may be in cash, in free trading stock or in restricted stock. Crown Equity Holdings Inc. (OTCPK:CRWE) has received twenty thousand dollars in cash and twenty thousand dollars in free trading share from a third party (Swiss Financial Report) for (30) days of advertisement services for Proteonomix, Inc. (OTCPK:PROT)