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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, 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 2011.
Spectral Capital Corporation (OTCPK:FCCN)
Spectral has just acquired a 65% interest in a gold mine in Kazakhstan, in one of the region’s most promising areas for gold extraction. Spectral continues to develop a diversified portfolio of mineral assets in some of the world’s most productive mining regions.
Spectral Capital Corporation, (PINK:FCCN) (F3SN:F) is pleased to announce that it has engaged UK Based global consultancy Wardell-Armstrong to evaluate is 703 square kilometer gold mining project in the Bayankol River region of Kazakhstan.
‘Wardell-Armstrong has more than 350 professionals on staff and offices throughout the UK and in Almaty, Kazakhstan. With their 150 plus year history and track-record of excellence in the mineral extraction industry, Wardell-Armstrong is well positioned to assist Spectral in the evaluation, verification, re-defining and developing our enormous Kazakh gold mine property. The fact that they already have experience working on the property means that our joint efforts will produce efficient, immediate and impactful results’, said CEO Jenifer Osterwalder.
Unlike currency, gold can be purchased in one country and sold in another. There are no boundaries on gold and it be stored anywhere and hold its value. Furthermore, the demand for gold is global and has recently been on the rise in countries like China and India. The demand for gold in China has nearly tripled in the last ten years and in India reached an all time high in 2010. Together, China and India accounted for 51% of global jewellery, bar and coin demand in this year, a fact in itself worthy of being a reason to jump on the gold bandwagon. This and the fact that the long term goal of China is to create a Chinese Gold Standard, thereby ditching the current dollar standard.
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