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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.
Alzheimer’s has no current cure, nonetheless treatments designed for conditions can be purchased and research continues on. Even though most current Alzheimer treatments can’t eliminate Alzheimer’s disease from progressing, they’re able to temporarily impede the worsening connected with symptoms as well as advance well being for anyone with Alzheimer’s not to mention all their caregivers. Today, there exists a world-wide exertion under way to find better ways to take care of the disease, delay its onset, and forestall it from evolving.
Breast cancer is a kind of most cancers where cells with the breast divide and grow without typical control. Concerning 85 % of breast cancers come from the particular mammary ducts, although about 15 per cent develop inside the lobules. Cancers within the busts are likely to mature slowly. Once a lump is actually big enough to really feel, it may well happen to be growing for as long as ten years. Even so, a lot of tumors can be aggressive, and therefore increase considerably more quickly.
Parkinson’s disease is really a disorder that influences neurological cells, or neurons, found in the portion of the brain in which deals with muscle movement. In Parkinson’s, neurons that make an important chemical substance known as dopamine die or do not work properly. Dopamine generally delivers impulses that will help coordinate an individual’s movements. Nobody has found out whatever injuries these kind of cells perform. As signs and symptoms get worse, people with Parkinson’s disease could possibly have trouble walking, talking or doing simple tasks. They may also have problems such as depression, sleep problems or trouble chewing, swallowing or speaking.
Enzo Biochem, Inc. (NYSE:ENZ) is a growth-oriented integrated life sciences and biotechnology company focused on harnessing biological process to develop research tools, diagnostics and therapeutics, and serves as a provider of test services, including esoteric tests, to the medical community. Since our founding in 1976, our strategic focus has been on the development of enabling technologies in the life sciences field. Enzo Life Sciences develops, produces and markets proprietary labeling and detection products for gene sequencing, genetic analysis and immunological research, among others. Its catalog of over 30,000 products serves the molecular biology, drug discovery and pathology research markets worldwide.
About Enzo Life Sciences:
Enzo Life Sciences is a leading manufacturer of high quality reagents, kits and products supplied to scientific researchers in academia, clinical research and drug discovery. With direct sales operations in US, Switzerland, Germany, UK, France and Benelux, Enzo Life Sciences also supports its 8000 products through a global network of dedicated distributors.
Enzo Life Sciences rapidly growing catalogue of over 8000 products, technologies and services is sold to scientists worldwide to “Enable Discovery in Life Sciences”. The catalogue of products covers a wide area of science and used in research of DNA, Proteins and Cells. Our areas of focus include:
a) DNA, RNA and Protein Quantization Systems
b) Genomics and Molecular Biology
c) Labels and Probes
d) Research Assay Kits
e) Compound Libraries
f) Biochemicals, enzymes, proteins, and immunological in the fields.
Enzo Biochem freshly reported improved sequential results for the first fiscal quarter ended October 31, 2010, the result of recent programs to reduce expenses, consolidate activities and expand operations.
“We are pleased to report that our program instituted this quarter aimed at making Enzo more efficient and designed to produce more effective use of our assets is beginning to show results, as demonstrated by improved performance, ” said Barry Weiner, President. “While we are in the early stages of this comprehensive program, the results experienced to date are very encouraging.”
More about ENZ at: www.enzo.com
Consumer Portfolio Services, Inc. (Nasdaq:CPSS) announced that on December 23, 2010 it closed a follow-on senior secured financing with an affiliate of Levine Leichtman Capital Partners ("LLCP"). CPS received $20 million in incremental debt capital. LLCP also received in the transaction common and convertible preferred shares equivalent in the aggregate to 2.75 million common shares. The Company also announced that it simultaneously entered into a $100 million two-year warehouse credit line with affiliates of Goldman, Sachs & Co. and Fortress Investment Group. Loans under the facility will be secured by automobile receivables that CPS now holds or will purchase from dealers.
Consumer Portfolio Services, Inc., a specialty finance company, engages in purchasing and serving retail automobile contracts originated primarily by franchised automobile dealers and select independent dealers of new and used automobiles, light trucks, and passenger vans in the United States.
Security National Financial Corp. (Nasdaq:SNFCA) announced that its Board of Directors has authorized a 5% stock dividend for stockholders of record on January 14, 2011, payable on February 4, 2011. Scott Quist, President, stated, “I am pleased that the board has taken this action. Considering the current nationwide economic challenges, it is gratifying that Security National Financial Corporation is able to continue its history of paying stock dividends.” Security National Financial Corporation is listed with NASDAQ and trades under the symbol SNFCA.
Security National Financial Corporation, together with its subsidiaries, provides various insurance and annuity products in the United States. It operates in three segments: Life Insurance, Cemetery and Mortuary, and Mortgage Loans. The Life Insurance segment engages in selling and servicing certain lines of life insurance, annuity products, and accident and health insurance products.
Jamba, Inc. (Nasdaq:JMBA) provided an update regarding key accomplishments through the fourth quarter, which ended on December 28, 2010. The Company announced that preliminary company-owned comparable store sales (1) for the fourth quarter of 2010 increased 0.2%, which reflects sequential comparable store sales improvement during the last six of seven quarters. It is also the first positive quarter of company-owned comparable store sales increase since 2007.
Jamba, Inc., through its subsidiary, Jamba Juice Company, owns and franchises Jamba Juice stores in the United States and the Bahamas. The company operates as a restaurant retailer of food and beverage products. As of April 20, 2010, it operated 745 stores locations consisting of 458 company-owned and operated stores, and 287 franchise stores.
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