Power3 Medical Products, Inc. (OTCBB:PWRM), a leading proteomics company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases, recently announced that company management believes Power3 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.
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.
Power3 Medical Products, Inc. is a leading bio-technology company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases such as Alzheimer’s disease, Parkinson’s disease and amyotrophic lateral sclerosis (commonly known as ALS or Lou Gehrig’s disease). Power3 applies proprietary methodologies to discover and identify protein biomarkers associated with diseases.
Gold Mining in Colombia, the next faze of economic development but for whom… Orofino Gold Corp. (ORFG.PK) is a China based gold producer with one producing gold mine in Colombia and an option on a strong portfolio of small producers and development/exploration assets in Colombia. Orofino Gold was founded as a private company in 2009 by former executives and management with over 50 years of combined mining exploration, finance and development experience.
Orofino’s corporate objective is to continue to build shareholder value through the exploration and development of existing projects and additional accretive acquisitions, capitalizing on the extensive experience and relationships that management has developed over the past 25 years.
Orofino Gold Corp. is a US (Nevada) company established for the purpose of creating a significant exploration and mining group to operate in Colombia. Orofino has major criteria by which they select properties that include: Significant historical production; Favorable geology for hosting major ore bodies; Significant property area for large target exploration; Recent results available; Favorable infrastructure and access to allow mine development; and Receptive local government and populace.
In addition, Orofino has acquired a database comprised of exploration and mining results from previous operators who left when the global mining sector experienced a major downturn in the three year period from 1997-2000. The second part of Orofino Gold’s strategy to become a recognized player in the Colombia mining sector was the acquisition of an interest in an operating mine. Orofino has acquired a 55% interest in the La Azul/La Estrella property with the rights to acquire up to 80%.
Scorpio Tankers Inc. (NYSE:STNG) announced that it has entered into time charter agreements for four vessels. The vessels and terms are summarized as: BW Zambesi, a 2010 built LR1 tanker (76,578 DWT), was chartered-in for one year at $13,850 per day. The vessel was delivered in December 2010. The agreement includes an option for Scorpio Tankers to extend the charter for an additional year at $14,850 per day.
Scorpio Tankers Inc. provides marine transportation of petroleum products worldwide.
Royce Micro-Cap Trust, Inc. (NYSE:RMT) the Board of Directors of Royce Micro-Cap Trust (NYSE:RMT) has approved the resumption of a quarterly distribution policy for Common Stockholders, beginning in March 2011, at the annual rate of 5%. As of December 31, 2010, the Fund had fully utilized its capital loss carryforwards for federal income tax purposes, allowing the managed distribution policy to be reinstated. The quarterly distribution policy, which was suspended by the Board in May 2009 in light of significant capital loss carryforwards, is designed to spread any capital gain distributions more evenly over the year.
Royce Micro-Cap Trust, Inc. is a closed-ended equity mutual fund launched and managed Royce & Associates, LLC.
Silvercorp Metals Inc. (NYSE:SVM) reported the results of its 2010 underground diamond drilling program at the southwest corner (also called LM Mine West) of the TLP Mining Permit area, Ying Mining District, Henan, China. This successful drill program has not only extended the existing veins to depth and along strike at the LM Mine West, but has also discovered 18 additional high grade silver (Ag) - lead (Pb) veins, increasing the total number of mineralized veins from 9 to 27.
Silvercorp Metals Inc. engages in the acquisition, exploration, development, and operation of silver mineral properties in China and Canada.
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