Proteonomix, Inc. (OTCPK:PROT)
PROT, a biotechnology company focused on developing therapeutics based upon human cells and their derivatives, announced further developments with its Joint Venture Company, XGEN Medical LLC ("XGen") towards implementing operations in the United Arab Emirates (U.A.E.).
PROT is the majority shareholder in XGen with the balance held by an anonymous investor group. PROT personnel were on the ground in the U.A.E. over the past weeks to work together with the Investor Group through the start up phase. To date, XGen has established an office in the Monarch Office Tower on the prestigious Sheikh Zayed Road, and a residence for visiting PROT personnel on Jumeira 2.
During initial meetings, it was mutually decided to open a local subsidiary corporation in the Dubai free zone. This wholly owned subsidiary will be the vehicle to conduct business in the GCC countries. XGen has filed the corporate papers and has established banking relations with a local bank both for receipt of the initial investment of $5 million and towards further financing expanded services in the region. The Ramadan holiday has slowed progress slightly on these corporate formalities, but full operation of the subsidiary and bank accounts are expected to complete within 30 days.
It was further announced that XGen has expanded its talks within the region beyond a license for manufacture of and treatment with PROT cellular material. Discussions are now further encompassing both the construction of XGen's own manufacturing and treatment facility within the U.A.E. and on funding phased trials for one or more of PROT's proprietary cellular materials for treatment of disease.
PROT CEO, Michael Cohen commented that "The business environment in the U.A.E. is very receptive to Proteonomix and our medical technologies. There is an intense focus on high quality public medical care as well as cutting edge technology. When combined with the rebounding financial condition within the region, we are very pleased to have this opportunity to conduct business in a growing location for medical advancement."
PROT, a biotechnology company, engages in the development of stem cell therapies primarily for the treatment of diabetes and cardiac therapy, as well as offers cosmeceutical products. The stem cell therapy involves the introduction of healthy new stem cells to repair and replace damaged or lost cells. It offers product for the treatment of anti-aging and damaged skin. PROT develops cosmetic products using its technologies, Secreted Matrix and Matrix NC-138 that is a stem cell derived proteins technology. PROT is also involved in the operation of retail Web site, Proteoderm.com to sell its anti-aging line of skin care products; develops therapeutic modalities for the treatment of cardiovascular disease; and engages in the reproductive tissue banking, including sperm, ova, ovarian tissue, and testicular tissue. In addition, PROT develops intellectual properties for patent applications, including a medium and scaffolding for enhancing the growth of stem cells, a growth platform for stem cells, a cord blood banking cryopreservation bag, and a device to eliminate malformed stem cells via filtration. Further, PROT is developing pre-clinical-stage therapeutic agents and treatments for cancer, diabetes, heart, lung, and kidney diseases, as well as for stem cell bone marrow and organ transplants. PROT was formerly known as National Stem Cell Holding, Inc. and changed its name to Proteonomix, Inc. in August 2008. PROT was founded in 2005 and is based in Mountainside, New Jersey.
To learn more about PROT visit: http://www.proteonomix.com
Evcarco, Inc. (OTC:EVCA)
EVCA is pioneering a new way to meet the demands of 21st century car buyers. EVCA is bringing to market eco-friendly vehicles with an emphasis on performance and affordability and the latest in developed technology. The board of EVCA is pleased to announce today that pursuant to a strong demand from the US Federal Government to meet environmental standards in relation to its Federal Military fleet, EVCA will be working with VENTA Inc. and several third party organizations to create Military grade AEV and Hybrid Diesel Electric units.
The move is part of an EVCA recent corporate shift aimed at increasing revenue through contracting and sourcing of units suitable for Government RFPs.
Scott O'Neal, Chief Operation Officer, stated, "We feel that working in conjunction with our corporate sales and commercial fleet division, the addition of a high revenue entity aimed at Military contracting is a significant move for EVCARCO and the corporate vision."
EVCA has been working on projects with the US Federal Government as announced in previous releases since first quarter of 2010; the trials have given the management of EVCA insight into the needs and requirements of the Federal Government and, with this knowledge, the corporation stands at a significant advantage in respect to sourcing specific AEV and Hybrid Units for the Military.
The US Military through TARDEC has set a strong precedent relating to adoption of Alternative energy units into the US Military. TARDEC is the U.S. Army's lead organization for ground vehicle systems integration, engineering and technology development.
Initial development of units will be entered into testing phase by late 2010 with "Real World" Government testing anticipated for early 2011.
AFVs are vehicles that operate on alternative fuels, such as methanol, ethanol, compressed natural gas, liquefied petroleum gas, or electricity, as designated by the U.S. Department of Energy. Some AFVs that can run on conventional fuels like gasoline, as well as alternative fuels, are called dual-fueled vehicles.
EVCA is a development stage company and engages in selling environmentally conscious automobiles in the United States. EVCA offers electric vehicles and pre-owned vehicles converted to various green technologies; and financing, warranties, maintenance, and mechanical services. EVCA was incorporated in 2008 and is based in Fort Worth, Texas.
To learn more about EVCA visit: http://www.evcarco.com
Lazard World Dividend & Income Fund (NYSE:LOR)
The Board of Directors of LOR has authorized the Fund to declare today, pursuant to a level distribution policy, a monthly distribution of $0.07063 per share on the Fund’s outstanding common stock. The distribution is payable on October 22, 2010 to shareholders of record on October 12, 2010. The ex-dividend date is October 7, 2010.
LOR is a close ended equity mutual fund launched and managed by Lazard Asset Management LLC. LOR was formed on June 28, 2005 and is domiciled in the United States.
To learn more about LOR visit: http://www.lazardnet.com
La-Z-Boy Incorporated (NYSE:LZB)
An industry-first, the new La-Z-Boy 3D Room Planner creates nearly photorealistic 3D renderings of consumers' rooms by inserting features like windows, doors, fireplaces and flooring along with the many styles and fabrics that LZB has to offer, all in an easy-to-use platform. Once created, these visual reality images can be shared on Facebook or through e-mail with friends, family and design experts for feedback and discussion before any purchases are made.
LZB manufactures, markets, imports, distributes, and retails upholstery products and wood casegoods furniture products under the La-Z-Boy name in the United States and Canada. LZB operates in three segments: Upholstery Group, Casegoods Group, and Retail Group. LZB was formerly known as Floral City Furniture and changed its name to La-Z-Boy Incorporated in 1996. LZB was founded in 1927 and is based in Monroe, Michigan.
To learn more about LZB visit: http://www.la-z-boy.com
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