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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 worsens after a while. Alzheimer’s is some sort of progressing ailment, in which symptoms slowly progress over a period of time. In its early stages, forgetfulness is slight, however with late-stage Alzheimer’s disease, people today will not be able to carry on a conversation as well as react to their natural environment. Alzheimer’s disease is considered the 6th leading source of dying within the united states. Those that have Alzheimer’s disease live life typically 8 years after their signs or symptoms come to be obvious to many others, but yet survival can vary from three to 20 years, based on years of age along with other health conditions.
Soon after skin cancer, cancer of the breast is easily the most widespread cancers recognized in females in the united states. But breast cancer rates now have fallen in recent times, even so medical professionals are not certain the key reason why. Even now, for numerous women of all ages, breast cancer could be the condition they will fear most.
Parkinson’s disease typically has effects on people around fifty. The early signs of PD tend to be subtle and also occur gradually. When it comes to many people the condition moves along more rapidly than in others. The fact that the condition moves along, the shaking, or tremor, which will has an effect on nearly all PD individuals may turn to restrict every day actions. Other signs and symptoms may include depression and other emotional changes; difficulty in swallowing, chewing, and speaking; urinary problems or constipation; skin problems; and sleep disruptions. There are currently no blood or laboratory tests that have been which can support in diagnosing sporadic PD. For that reason the medical diagnosis is determined by track record and a neurological examination. The illness can be tough to diagnose precisely. Physicians may very well sometimes demand brain scans or laboratory tests in order to exclude other diseases.
Prudential Financial, Inc. (NYSE:PRU) announced that Vice President and Corporate Counsel Robert A. Fishbein has been named Chair of the Committee of Annuity Insurers. Fishbein has been serving as Vice Chair of the Committee since March of 2010. The Committee of Annuity Insurers is a coalition of 32 of the largest issuers of annuity contracts in the nation and was formed in 1982 to address Federal legislative and regulatory issues relevant to the annuity industry. The Committee’s member companies, which include Prudential, represent over two-thirds of the annuity business in the United States.
Prudential Financial, Inc., through its subsidiaries, provides various financial products and services in the United States, Asia, Europe, and Latin America.
Occidental Petroleum Corporation (NYSE:OXY) announced net income of $1.2 billion ($1.49 per diluted share) for the fourth quarter of 2010, compared with $938 million ($1.15 per diluted share) for the fourth quarter of 2009. Core income for the fourth quarter of 2010 was $1.3 billion ($1.58 per diluted share), compared with $1.1 billion ($1.35 per diluted share) for the fourth quarter of 2009. Net income for the twelve months of 2010 was $4.5 billion ($5.56 per diluted share), compared with $2.9 billion ($3.58 per diluted share) for 2009. Full year 2010 core results were $4.7 billion ($5.72 per diluted share), compared with $3.2 billion ($3.92 per diluted share) for 2009.
Occidental Petroleum Corporation, together with its subsidiaries, operates as an oil and gas exploration and production company primarily in the United States.
Harsco Corporation (NYSE:HSC) announced plans for revitalizing its long-standing Harrisburg Steel operating site in central Harrisburg as a new regional super center for its Infrastructure business group. The initiative will create nearly 20 new jobs for the region's economy and bring new vitality to the birthplace of the Company's industrial heritage. The Company plans to invest more than $2 million in the site's preparation, modernization and security, much of which is already underway. Full operations are expected to begin in April of this year.
Harsco Corporation provides industrial services and engineered products worldwide. The company?s Harsco Infrastructure segment engages in the rental and sale of scaffolding, shoring, and concrete forming systems for industrial maintenance and capital improvement projects, as well as provides various services, including project engineering and equipment installation.
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