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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.
Crown Equity Holdings Inc. (OTCPK:CRWE)
Crown Equity Holdings Inc. (OTCBB:CRWE) just recently announced that its subsidiary company, Crown Tele Services Inc. (http://www.crownteleservices.com ) is still moving forward after dissolving its joint venture with Communication Expert Corporation and will gradually start rolling out its internet based voice and video service IP-PBX solutions next year.
The cornerstone of Crown Tele Services Inc. strategy is to meet the highest standards when it comes to delivering VoIP (Voice over Internet Protocol) communication solutions specifically designed to meet the market needs.
Commenting on the venture, Kenneth Bosket, president said, “We are still excited with this opportunity to expand our footprint in this valuable market. The demand for internet-based voice and video services is growing exponentially and our new subsidiary Crown Tele Services Inc. has launched its new website and intends to emerge as a service provider of choice.”
According to ABI Research, the latest global business VoIP services forecasts show that the value of the overall market, which includes VoIP integrated access, SIP trunking, hosted IP-PBX/IP Centrex and managed IP-PBX services, is set to double over the next five years, to exceed $20 billion by 2015.
Qwest Communications International Inc. (NYSE:Q) will announce its fourth quarter 2010 financial and operational highlights on Tuesday, Feb. 15, 2011, at 7 a.m. EST. Qwest management will host a conference call at 9 a.m. EST on the same day to discuss the company’s perspective on the results and answer questions.
Qwest Communications International Inc. provides data, Internet, video, and voice services in the United States and internationally. The company offers its products and services using telecommunications network, which consists of voice and data switches, copper cables, fiber optic broadband cables, and other equipment to mass markets, business, and wholesale customers.
Boston Scientific Corporation (NYSE:BSX) announced it has acquired Intelect Medical, Inc., a development-stage company located in Boston. Intelect Medical is developing advanced neuromodulation technologies for deep brain stimulation (NYSEARCA:DBS) therapy. The transaction values Intelect Medical at $78 million with no cash and no debt on its balance sheet. As a result of Boston Scientific's existing equity and debt positions in Intelect Medical, the total cash payment by Boston Scientific was approximately $60 million, which was funded with cash on hand. Boston Scientific expects the transaction to have an immaterial impact on its GAAP and adjusted earnings per share in each of 2011, 2012 and 2013, and to be accretive starting in 2014.
Boston Scientific Corporation develops, manufactures, and markets medical devices used in various interventional medical specialties worldwide. It offers cardiac rhythm management products, which monitor the heart and deliver electricity to treat cardiac abnormalities; and RF generators, intracardiac ultrasound and steerable ablation catheters, and diagnostic catheters for the diagnosis and treatment of cardiac arrhythmias.
SUPERVALU Inc. (NYSE:SVU) announced that Janel Haugarth, 55, executive vice president, president and chief operating officer of the company’s Supply Chain Services organization has been named executive vice president, merchandising and logistics. Steve Jungmann, who had held the position of executive vice president, merchandising, will leave the company effective immediately. In her new role, Haugarth will be responsible for all merchandising activities across the company’s traditional retail and independent retail businesses.
SUPERVALU INC., together with its subsidiaries, operates retail food stores in the United States. The company’s stores offer general merchandise, health and beauty care, pharmacy, and fuel products under the under the Acme, Albertsons, Cub Foods, Farm Fresh, Hornbachers, Jewel-Osco, Lucky, Save-A-Lot, Shaw’s, Shop n Save, Shoppers Food & Pharmacy, and Star Market banners, as well as in-store pharmacies under the Osco and Sav-on banners.
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