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Power3 Medical Products, Inc. (PWRM.OB)
Power3 Medical Products, Inc. (OTC.BB:PWRM), a leading proteomics company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases, today announced that company 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, Power3 is a party to several litigation matters, most of which relate to various toxic debt instruments that were entered into by Power3 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 Power3’s depressed stock price and have distracted the company from its mission, Power3 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, Power3 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 Power3 Medical Products, Inc. “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. Power3 plans to effect the acquisition of Rozetta-Cell by merging Rozetta-Cell with and into Power3, with Power3 remaining as the surviving company. The acquisition of Rozetta-Cell is expected to be completed in February 2011.
AK Steel Holding Corporation (NYSE:AKS) have improved nicely in the past year due to increased government support and more balanced demand. The rebound in demand has been largely attributed to -- at least in the US -- stronger auto and non-residential construction sectors. China posted a significant surge in steel imports last month; however stricter measures may reduce the nation's demand going forward.
AK Steel Holding Corporation, through its subsidiaries, produces flat-rolled carbon, stainless, and electrical steels, and tubular products primarily in the United States and internationally. It manufactures flat-rolled carbon steels, including coated, cold-rolled, and hot-rolled products; and specialty stainless and electrical steels that are sold in hot band, sheet, and strip forms.
American Eagle Outfitters, Inc. (NYSE:AEO) announced its plans for American Eagle Outfitters and Aerie by American Eagle stores in Japan, in partnership with Sumikin Bussan Corporation. The first store is slated to open in Tokyo’s legendary Harajuku shopping district in the first half of 2012.
American Eagle Outfitters, Inc. operates as an apparel and accessories retailer in the United States and Canada. The company offers denim wear, sweaters, graphic t-shirts, fleece, outerwear, and accessories targeting 15 to 25 year old girls and guys under the American Eagle brand name; and clothing and accessories for kids through online under the 77kids by american eagle brand name.
General Growth Properties Inc. (NYSE:GGP) announced its Board of Directors has declared a common stock dividend of $0.38 per share, payable in a combination of cash and common stock. The dividend is payable on January 27, 2011, to stockholders of record on December 30, 2010. The cash component of the dividend will be limited to 10% in the aggregate.
General Growth Properties, Inc. operates as a real estate investment trust in the United States. It operates in two segments, Retail and Other, and Master Planned Communities. The Retail and Other segment involves in the operation, development, and management of retail and other rental property comprising retail centers, office and industrial buildings, and mixed-use and other properties.
Orofino Gold Corp. (PINK OTC: ORFG) (”Orofino Gold” or the “Company”) has several Gold development properties in Colombia, a current hot spot of gold production in the world markets.
The company is please to announce that the Board Of Directors have appointed Mr. Ning Shi Long as Chairman of the Board and Executive Director.
Mr. Ary Fernando Pernett Marque has been appointed as the new President/CEO & Executive Director of Orofino Gold Corp. (see full resume on the company website at www.orofinogold.com)
Mr. Pernett will be responsible for all affairs of the Company in Colombia. Mr. Pernett has 30 years of experience working in the Colombian Mining sector and will over the near term choose his new development team to assist in the development of the company’s Senderos de Oro gold camp in the Sur de Bolivar Colombia.
The company and Mr. Pernett will continue to work with Contexto Legal of Medellin and Bogota, the company’s legal counsel as well as Discovery Consultants, (The Qualified 43-101 team) Canada, as they have in the past. The new team will now aggressively pursue other known Gold occurrences in the companies Senderos de Oro Gold Camp while the development team works to improve production at La Azul Mine.
The Board of Director’s have accepted resignation of John T. Martin, former Managing Director of the Company. His resignation is effective immediately. The Company wish him well and success in future endeavors.**************************************************************
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