Eline Entertainment Group, Inc. (PINKSHEETS:EEGI) has completed their merger with Vu365. Vu365 has been looking to enter the US market for quite some time, and this merger is the perfect opportunity. According to sources, Vu365 offers revenues in the $2 million USD range, with profits of $500,000 USD. Vu365 is a popular China-based video game designing company. Founded in 2005, the group designs online and casual video games including strategic web games, cyber games and 3D large scale competitive games and has several products in development.
Eline Entertainment Group, Inc. operates in the educational industry in China. It operates 12 educational training centers for nursery students; and 4 training programs.
PTS, Inc. (OTCBB:PTSH); announced recently that through its ThinLine division it has signed a 3 year IT Services deal with United Power. United Power is acknowledged experts on the resale of products especially suited for medium voltage power distribution, in addition to providing a wide portfolio of products for other aspect of the electrical utility business. United Power has been serving electrical utility Customers within Georgia continuously since 1976. They have developed a reputation for customer sensitivity, fair dealing and exceptional quality during this time.
PTS, Inc. does not have significant operations. It intends to acquire undervalued businesses and/or merge with businesses with a history of operating revenues. Prior to February 23, 2010, the company engaged in the provision of accessibility compliance consulting services to government, school districts, and municipalities and other public entities, as well as to retail, commercial, recreational, and corporate customers.
Physicians Formula Holdings Inc. (Nasdaq:FACE) recently announced financial results for the three and nine months ended September 30, 2010. Net sales were $14.3 million for the third quarter of 2010, compared to $14.2 million for the same period in 2009, an increase of 0.7%. The drivers of the modest year-over-year increase in net sales were lower product returns provisions, strength in sales to Canadian retailers, and a lower provision for co-operative advertising expense, partially offset by lower U.S. sales from the tightening of inventory levels by retailers in response to soft consumer demand.
Physicians Formula Holdings, Inc. engages in the development, marketing, manufacture, and distribution of cosmetics for the mass market channel. The company offers face and eye makeup products comprising face powders, bronzers, concealers, blushes, foundations, eye shadows, eye liners, brow makeup, and mascaras. It sells its products to various retailers in the food retail, drug chain, mass volume, specialty retail, and wholesale channels in the United States, Canada, and Australia.
Naugatuck Valley Financial Corp. (Nasdaq:NVSL) and Southern Connecticut Bancorp, Inc. (AMEX:SSE) announced jointly that they had mutually agreed to terminate their merger agreement, citing inability to obtain regulatory approval of the proposed transaction. Naugatuck Valley Savings and Loan remains a well-capitalized and profitable institution.
Naugatuck Valley Financial Corporation operates as the holding company for Naugatuck Valley Savings and Loan that provides various financial services to consumers and businesses in Connecticut. The company generates various deposit products, including negotiable order of withdrawal accounts, checking accounts, money market accounts, regular savings accounts, club savings accounts, certificate accounts, health savings accounts, and various retirement accounts.
Ariad Pharmaceuticals Inc. (Nasdaq:ARIA) reported financial results for the third quarter and nine months ended September 30, 2010 and provided an update on corporate developments. “Patient enrollment is off to a very good start in the PACE trial of ponatinib, our investigational pan-BCR-ABL inhibitor, in patients with resistant or intolerant chronic myeloid leukemia, and we are advancing our investigational anaplastic lymphoma kinase inhibitor through IND-enabling studies,” stated Harvey J. Berger, M.D., chairman and chief executive officer of ARIAD.
RIAD Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the discovery, development, and commercialization of small-molecule drugs for the treatment of cancer in the United States, Europe, and Japan. The company’s lead cancer product candidate, ridaforolimus is being studied in multiple clinical trials in patients with various types of cancers, including sarcomas, breast cancer, prostate cancer, non-small cell lung cancer, and endometrial cancer.
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