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Power3 Medical Products, Inc. (OTC:PWRM)
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.
Douglas Lake Minerals Inc. (the “Company” or “Douglas Lake“) (OTCBB:DLKM; FRANKFURT:D60) is pleased to announce that the Commissioner for Minerals of Tanzania has confirmed the recording in the Central Register the transfer of 100% shares of each of the Prospecting License Nos. 6742/2010, 6743/2010, 6744/2010 and 6779/2010 from IPP Gold Limited to Douglas Lake Minerals Inc., and that such transfer has been duly recorded on the terms and conditions contained in such Prospecting Licenses. These Prospecting Licenses, which cover an area of approximately 800 square kilometers, form Douglas Lake’s recently acquired Handeni Project.
As previously announced, the Company has requested a geologist to prepare a Technical Report on the Handeni Project in accordance with the provisions of National Instrument 43-101 (”NI 43-101?) of the Canadian Securities Administrators. Upon receipt of the Technical Report the Company will file it on SEDAR at www.sedar.com.
Hanesbrands Inc. (NYSE:HBI) announced that is has renovated an ambulance, distributed 100 eco-stoves and is funding education programs for at-risk youths as part of continued efforts to improve the quality of life in several neighborhoods and communities in El Salvador. The ambulance, stove and education projects will benefit more than 25,000 people living in communities near San Juan Opico, about 20 miles northwest of the capital of San Salvador. Hanesbrands, which has operated in El Salvador for nearly 20 years, has six apparel manufacturing and sewing plants providing more than 9,000 jobs in the country, including several facilities near San Juan Opico.
Hanesbrands Inc., a consumer goods company, engages in the design, manufacture, sourcing, and sale of apparel essentials in the United States and internationally. Its product portfolio includes T-shirts, bras, panties, men’s underwear, kids underwear, casualwear, activewear, socks, and hosiery.
Chesapeake Energy Corporation (NYSE:CHK) announced that its Board of Directors has declared a $0.075 per share quarterly dividend that will be paid on January 18, 2011 to common shareholders of record on January 3, 2011. Chesapeake has approximately 655 million common shares outstanding.
Chesapeake Energy Corporation, together with its subsidiaries, produces natural gas in the United States. The company focuses on discovering, acquiring, and developing conventional and unconventional natural gas reserves onshore in the United States, primarily in its six natural gas shale plays.
Aeropostale, Inc. (NYSE:ARO) announced three executive appointments that realign responsibilities and strengthen its leadership team. The management appointments are as follows: Michael J. Cunningham, President, will expand his role and assume additional responsibilities over planning and allocation, construction, logistics and real estate. He will also remain responsible for the finance organization, investor relations and information technology. Mr. Cunningham will continue to report to Thomas P. Johnson, Chief Executive Officer.
Aeropostale, Inc. operates as a mall-based specialty retailer of casual apparel and accessories. It designs, markets, and sells merchandise principally targeting 14 to 17 year-old young women and men. The company offers a collection of apparel, including graphic t-shirts, tops, bottoms, sweaters, jeans, and outerwear, as well as accessories, including sunglasses, belts, socks, and hats.
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