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 towards implementing operations in the 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, 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. 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
Wells-Gardner Electronics Corporation (AMEX:WGA)
WGA announced net earnings for the second quarter ending June 30, 2010 were $441,000 or $0.04 per share, a 9 percent reduction compared to net earnings of $484,000 or $0.04 per share in the same period the prior year. The second quarter results included $261,000 of non-recurring charges which was made up of $122,000 of reorganization charges and $139,000 of operating expenses related to the Illinois Video Lottery business, which is not expected to begin generating revenue until the first quarter 2011. Prior year results included non-recurring tax charges of $73,000. Second quarter 2010 sales were $15.4 million, which is an increase of 7 per cent over the $14.4 million in the same quarter 2009.
WGA engages in the design, manufacture, assembly, distribution, marketing, and service of electronic components. WGA offers liquid crystal displays (LCD), color video monitors, gaming supplies and components, and the integration of touch sensors to video monitors. WGA provides its products for gaming machine manufacturers, casinos, coin-operated video game manufacturers, and other display integrators. WGA was founded in 1924 and is headquartered in McCook, Illinois.
To learn more about WGA visit: http://www.wellsgardner.com
Wesco Financial Corporation’s (AMEX:WSC)
WSC Board of Directors declared a regular quarterly cash dividend of $0.41 per share payable December 2, 2010 to shareholders of record at the close of business on November 4, 2010.
WSC, together with its subsidiaries, engages in insurance, furniture rental, and steel service center businesses in the United States. WSC's Insurance segment provides property and casualty insurance, and reinsurance products, as well as specialized insurance coverage for banks. WSC's product line for financial institutions includes policies for crime insurance, check kiting fraud indemnification, Internet banking catastrophe theft insurance, directors and officers liability, bank employment practices, and bank insurance agents professional errors and omissions indemnity, as well as deposit guarantee bonds. WSC owns a commercial real estate in downtown Pasadena, California. WSC was founded in 1925 and is based in Pasadena, California. WSC is a subsidiary of Blue Chip Stamps.
To learn more about WSC visit: http://www.wescofinancial.com
Western Asset Intermediate Muni Fund (AMEX:SBI)
SBI, which is listed on the NYSE Amex under the symbol “SBI”, announced monthly distributions of $0.0400 per common share for September, October and November 2010.
SBI operates as a diversified, closed-end management investment company. SBI invests primarily in municipal bonds. Its portfolio includes investments in education, hospital, escrowed to maturity, pre-refunded, transportation, general obligation, utilities, pollution control, water and sewer, tax obligations, lifecare systems, industrial development, and housing sectors. Smith Barney Fund Management LLC serves as investment manager of the fund. SBI was founded in 1991 and is based in New York City.
To learn more about SBI visit: http://www.leggmason.com
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