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Alliance Bankshares Corporation (Nasdaq:ABVA) reported third quarter net income of $242,000. On a year-to-date basis, the Company has earned $547,000, representing a significant improvement over the first nine months of 2009, when the Company reported a loss on continuing operations of $2.2 million. Alliance’s regulatory capital ratios remain above the levels necessary to be considered a “well capitalized” financial institution. Our third quarter results reflect the benefits of our continuing emphasis on reducing nonperforming assets, strengthening core earnings, and repositioning the franchise,” said William E. Doyle, Jr., President and Chief Executive Officer. “While we remain cautious in our outlook for the near future due to continuing weakness in the economy, the favorable reductions in OREO and non-accruals are very positive and contribute to an overall improvement in the risk profile of our loan portfolio.
Alliance Bankshares Corporation operates as the holding company for Alliance Bank Corporation that provides commercial and retail banking products and services in the United States. The company?s deposit products include demand, NOW, money market, and savings accounts, as well as certificates of deposit.
SavWatt USA, Inc. (OTC:SAVW)
SavWatt USA, Inc. pioneers in LED lighting and the Green revolution, announced recently that in cooperation with the City of Baltimore, SAVW will receive grant funds from the Maryland Energy Sector Grant. This million dollar grant will offer companies the ability to take LEED certification classes. LEED is an internationally recognized green building certified program. LEED certification important as many new construction and government projects are required to meet LEED standards. It is imperative for building owners, designers, construction firms and real estate developers to further develop their professional skills by obtaining LEED certification. SAVW has teamed up with the leaders in LEED training, Clean Edison, to offer this LEED AP certification at SAVW’s Baltimore, MD headquarters.
SAVW is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energy-efficient, environmentally friendly LED lighting. SAVW is a market-leading innovator of LED lighting. SAVW ’s product families include LED fixtures, bulbs, Street Lights and Parking Lights. To hear Recorder updates on SAVW Text SAVW to 46800.
To learn more about SAVW visit: http://www.savwatt.com
Cumulus Media Inc. (Nasdaq:CMLS) has announced the appointment of Bob Visotcky as its Market Manager for California’s Central Coast. This includes the company’s 6 stations in Oxnard/Ventura and Santa Barbara. A graduate of West Virginia University with a bachelor’s degree in Broadcast Journalism, Visotcky started living his dream as a radio professional fresh out of college at ABC’s owned and operated radio station WPLJ/NYC. Having worked predominantly in major markets and top name broadcasters, some of Bob’s career highlights include first market manager for AMFM overseeing Los Angeles and Denver, pioneered the first Jammin Oldies station in the country, MEGA 100/Los Angeles, General Manager and Market Manager assignments in San Francisco, San Diego, Cleveland and Denver.
Cumulus Media, Inc., a radio broadcasting company, engages in the acquisition, operation, and development of commercial radio stations in mid-size radio markets in the United States. It owns and operates FM and AM radio station clusters that serve mid-sized markets.
Power3 Medical Products, Inc. (OTC:PWRM)
PWRM has filed several patent applications that are currently pending for its NuroPro technology. PWRM also has a world-wide exclusive license from the Baylor College of Medicine in Houston, Texas. To date, PWRM has given 9 presentations on NuroPro at international scientific meetings in the United States, Europe and China. PWRM has also published 6 articles on NuroPro in peer-reviewed scientific journals. PWRM intends to publish these latest findings as well.
Power3 Medical Products, Inc. strives to become the premier biotechnology company specializing in the commercialization of proteomics IP for the diagnosis and treatment of disease by using cutting edge technologies, world class quality procedures and superior research methodologies. PWRM will be guided in all of its dealings with its customers, partners, shareholders, associates and investors by the philosophy of best practices.
Power3 Medical is a leading edge biotechnology company engaged in the early detection, monitoring, and targeting of diseases through the analysis of proteins. This dynamic team utilizes proteomics in the discovery of protein biomarkers, drug pathways, and mechanisms of disease.
To learn more about PWRM visit: http://www.Power3Medical.com
ARCA biopharma, Inc. (Nasdaq:ABIO) announced that it has received notification of a grant of $489,000 under the Qualifying Therapeutic Discovery Project. The Qualifying Therapeutic Discovery Project Credit is provided under section 48D of the Internal Revenue Code (NYSE:IRC), as added to the IRC by the Patient Protection and Affordable Care Act of 2010 (P.L. 111-148). We are very pleased to receive grants under this program to support our further development of new cardiovascular therapeutics,” said Michael R. Bristow, President and Chief Executive Officer of ARCA. “Our current lead development program plan includes the first full-sized cardiovascular trial performed in a genetically defined population designed to increase the efficacy of the drug according to a patient’s genetic makeup. We believe this personalized medicine approach to drug candidate development offers the possibility of improved health outcomes for patients and more cost-effective healthcare.
ARCA biopharma, Inc., a biopharmaceutical company, focuses on the development and commercialization of genetically-targeted therapies for heart failure and other cardiovascular diseases in the United States.
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