PROTEONOMIX, INC. (OTC.BB:PROT), a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives, announced today that Mr. Michael Cohen, Chairman and CEO, is scheduling a multi-city European road trip to create additional awareness of the Proteonomix, Inc. investment opportunity to institutional investors.
Scheduled for October, Mr. Cohen will discuss with sophisticated investors the recent contract to establish a joint venture with a group of investors that will establish a new stem cell treatment and research facility in the United Arab Emirates (U.A.E.). In addition, Mr. Cohen will discuss the opportunity to set up additional joint ventures in other countries using the U.A.E. arrangement as a model.
Proteonomix is a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives. Proteoderm, Inc. is a wholly owned subsidiary of Proteonomix that has recently opened its retail web site, Proteoderm.com, and begun accepting pre-orders for its anti-aging line of skin care products. StromaCel, Inc.'s goal is the development therapeutic modalities for the treatment of Cardiovascular Disease (CVD). StromaCel, Inc. is pursuing the licensing of other technologies for therapeutic use. National Stem Cell, Inc. is Proteonomix's operating subsidiary. The Sperm Bank of New York, Inc. is a fully operational tissue bank. Proteonomix Regenerative Translational Medicine Institute, Inc. ("PRTMI") intends to focus on the translation of promising research in stem cell biology and cellular therapy to clinical applications of regenerative medicine. Proteonomix intends to create and dedicate a subsidiary to each of its technologies.
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Central Vermont Public Service (NYSE: CV) will purchase two-thirds of the output of Iberdrola Renewables' planned Deerfield Wind Project in Readsboro and Searsburg, Vt., under an agreement announced recently.
CVPS will purchase 20 megawatts of the project's planned 30-megawatt output for nine years. Deerfield Wind is proposed to be built on U.S. Forest Service land, near the existing Searsburg wind project, in Readsboro and Searsburg. To protect sensitive contract negotiations with other parties, the price has been disclosed to regulators under seal.
The project is designed to include 15 wind turbines, eight in Searsburg and seven in Readsboro, which will produce 30 megawatts of new capacity. The project is expected to produce enough energy to power about 14,000 average Vermont households.
CV is Vermont's largest electric utility, serving approximately 159,000 customers statewide. CV's non-regulated subsidiary, Catamount Resources Corporation, sells and rents electric water heaters through a subsidiary, SmartEnergy Water Heating Services.
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Central Virginia Bankshares, Inc. (NASDAQ: CVBK) and Central Virginia Bank have decided not to pursue a Rights and Stock Offering at this time, on the advice of their investment bankers. The bank expects to renew its efforts to raise additional capital when market conditions improve.
Central Virginia Bankshares, Inc . is the parent of Central Virginia Bank, a 36 year old $470 million community bank with its headquarters and main office in Powhatan County, and six additional branch offices; two branches in the adjacent County of Cumberland, three branches in western Chesterfield County, and one branch in western Henrico County.
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Centrue Financial Corporation (NASDAQ: TRUE), parent company of Centrue Bank , reported a second quarter net loss of $3.9 million. This compares with a net loss of $6.3 million in the first quarter of 2010 and a net loss of $16.2 million in the second quarter of 2009, which included a goodwill impairment charge of $8.5 million. The net loss per common diluted share in the second quarter 2010 was $0.73, compared to net loss of $1.11 in the first quarter of 2010 and net loss of $2.77 in the second quarter 2009. For the first half of 2010, the Company reported a net loss of $10.2 million, or $1.84 per common diluted share, compared to a net loss of $15.2 million, or $2.66 per common diluted share, for the same period in 2009.
Credit costs continued to weigh heavily on second quarter 2010 earnings, as we recorded $7.6 million in provision for loan losses largely related to asset quality deterioration in the Company's land development, construction and commercial real estate portfolio. Also contributing to the loss was a $1.9 million non-cash credit impairment charge to CDO securities and increased loan remediation costs, including collection expenses on nonperforming loans and expenses associated with maintaining foreclosed real estate. Positively contributing to earnings were gains on sale of the Effingham branch and securities.
Centrue Financial Corporation is a regional financial services company headquartered in St. Louis, Missouri and devotes special attention to personal service. The Company serves a market area which extends from the far western and southern suburbs of the Chicago metropolitan area across Central Illinois down to the metropolitan St. Louis area.
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