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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 disease has no existing cure, and yet treatment options designed for symptoms can be purchased and research carries on. Despite the fact that most current Alzheimer treatments can’t cease Alzheimer’s disease from moving on, they can in the short term gradual the deterioration involving signs of illness in addition to strengthen well being for anyone with Alzheimer’s disease as well as those caregivers. Right now, there exists a international effort under route to finding possible ways to manage the ailment, postponement its beginning, and stop it from evolving.
Soon after cancer of the skin, cancer of the breast is easily the most well-known cancer diagnosed in females in the USA. However breast cancer rates currently have gone down these days, though doctors aren’t certain the key reason why. Even now, for many females, breast cancer may be the health probem that they fear most.
As symptoms get worse, individuals with Parkinson’s disease may have trouble walking, talking or doing simple tasks. They may also have problems such as depression, sleep problems or trouble chewing, swallowing or speaking.
Douglas Lake Minerals Inc. (OTC:DLKM)
Douglas Lake Minerals Inc. has filed a Canadian National Instrument 43-101 Standards for Disclosure of Mineral Projects (”NI 43-101) Technical Report (the “Technical Report”) for its Handeni Project. DLKM’s 100% owned Handeni Project consists of four prospecting licenses covering approximately 800 square kilometers in the newly developing goldfields of Eastern Tanzania. Douglas Lake filed the Technical Report with the British Columbia Securities Commission via the System for Electronic Document Analysis and Retrieval (SEDAR).
The Technical Report was prepared by Dr. Reyno Scheepers, Ph.D., Pr.Sci.Nat., a South African based consulting geologist and a director of DLKM who fulfills the requirements to be a ‘Qualified Person’ for the purposes of NI 43-101.
“The scale of work covered by the Technical Report has significantly advanced Douglas Lake’s Handeni Project,” Harp Sangha, Chief Executive Officer comments, “We now have a number of very exciting gold targets which we are a priority for us to follow up with further exploration in 2011.”
The Technical Report details the results of exploration activities conducted by IPP Resources, the previous holding company of the area. Extensive geophysical and geologic work was conducted over several field seasons from 2008. The work included prospecting, rock and soil sampling, and a ground magnetic survey. All geochemical analytical work was conducted by internationally accredited labs, SGS Laboratories and/or Humac Laboratories in Mwanza, Tanzania.
Spirit AeroSystems Holdings Inc (NYSE:SPR) announced it has reached an agreement with The Boeing Company regarding certain claims associated with the development and production of the 787-8 airplane in December 2010. "Working closely with our largest customer, we have developed a fair and equitable framework that reflects current program financial realities and reinforces a partnership that provides the basis for long-term value creation on the program for both Spirit and Boeing," said Phil Anderson, Spirit Senior Vice President and Chief Financial Officer. "Since the program's inception, our team has worked diligently to support customer requirements on 787 development and production," Anderson said. "We are optimistic about the future of the overall program, which we anticipate will continue to provide long-term benefit to Spirit."
Spirit AeroSystems Holdings, Inc., through its subsidiaries, designs, engineers, and manufactures commercial aircraft structures worldwide. It operates in three segments: Fuselage Systems, Propulsion Systems, and Wing Systems.
ABB Ltd. (NYSE:ABB) the leading power and automation technology group, and Baldor Electric Company (NYSE:BEZ) announced that ABB’s subsidiary Brock Acquisition Corporation has extended the expiration date for its tender offer for all of the outstanding shares of common stock of Baldor at a price of $63.50 per share net to the holder in cash, without interest and less any required withholding taxes, until 5:00 p.m., New York City time, on Wednesday, January 19, 2011. The offer had previously been scheduled to expire on January 10, 2011. The closing of the tender offer is subject to customary terms and conditions, including regulatory clearances.
ABB Ltd provides power and automation technologies for utility and industrial customers worldwide. The company’s Power Products division manufactures and sells high- and medium-voltage switchgear and apparatus, circuit breakers, power and distribution transformers, and sensors.
Skechers USA Inc. (NYSE:SKX) a global leader in the lifestyle footwear industry and the number two footwear brand in the United States, announced that hockey great Wayne Gretzky will be the next sports legend to make a “Comeback” in Shape-ups fitness footwear. Gretzky will be featured in a global Shape-ups campaign that spans television, print, viral and outdoor through 2011. “I want everyone out there to know it’s never too late to make a comeback,” said Wayne Gretzky. “Shape-ups are the perfect tool to help get your body back on track and after wearing Shape-ups, I feel great from my legs to my core. I’m proud to stand behind the entire Shape-ups product line because of one simple fact they really work.
Skechers U.S.A., Inc. engages in the design, development, marketing, and distribution of footwear for men, women, and children in the United States and internationally.
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