FieldPoint Petroleum Corp. (FPP) Announces Stock Buy-Back

AUSTIN, Texas–(BUSINESS WIRE)–FieldPoint Petroleum Corporation (AMEX:FPP – News) announced that on March 26, 2010, its Board of Directors authorized the Company to repurchase shares of its Common Stock at an aggregate cost not to exceed $250,000. Stock purchases may be made in open market or privately-negotiated transactions, if and when management determines to effect purchases. Repurchases shall occur subject to prevailing market conditions and will be funded from available cash. Repurchases will also be subject to compliance with applicable federal securities laws, including Rule 10b-18 under the Securities Exchange Act of 1934, as amended.

About FieldPoint Petroleum Corp. www.fppcorp.com

FieldPoint Petroleum Corporation is engaged in oil and natural gas exploration, production and acquisition, primarily in Louisiana, New Mexico, Oklahoma, Texas and Wyoming.

This press release may contain projection and other forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. Any such projections or statement reflect the company’s current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that such projections will be achieved and that actual results could differ materially from those projected. A discussion of important factors that could cause actual results to differ from those projected, such as decreases in oil and gas prices and unexpected decreases in oil and gas production is included in the company’s periodic reports filed with the Securities and Exchange Commission (at www.sec.gov).

Omeros (OMER) Reports Phase 2 Data Showing Multiple Clinical Benefits

SEATTLE, March 31 /PRNewswire-FirstCall/ — Omeros Corporation (Nasdaq: OMER) today announced that a Phase 2 clinical trial of OMS103HP, its PharmacoSurgery™ product candidate for arthroscopy, demonstrated that patients treated with OMS103HP during arthroscopic knee meniscectomy surgery achieved statistically significant clinical benefits.  OMS103HP is an investigational drug product that is added to arthroscopic irrigation solution and is designed to improve postoperative joint function and motion and reduce postoperative pain.

The Phase 2 clinical trial was a multicenter, randomized, double-blind, vehicle-controlled study. Of the 161 patients who were enrolled and treated, 143 patients met the predetermined surgical criteria and were included in the data analysis (71 OMS103HP and 72 vehicle). There were no important differences in demographic characteristics between the two treatment groups.

This study has shown that OMS103HP provides greater efficacy than vehicle as measured by visual analog scale (VAS) pain scores, passive knee flexion and patient reported functional scores using the Knee Injury and Osteoarthritis Outcome Score (KOOS).  The patient reported outcomes showed a sustained benefit through postoperative Day 90. OMS103HP was well tolerated, and adverse events were more frequent in the vehicle dose group.

Pain scores in the immediate 24-hour period and up to seven days postoperatively were measured using a validated, 100-point, VAS. Range of motion assessments were made at baseline and day seven postoperatively. The protocol was amended to collect patient self reports using the KOOS, which consists of five subscale scores: symptoms, pain, activities of daily living, sport and recreation function, and knee-based quality of life. The KOOS subset consisted of 67 subjects (33 OMS103HP and 34 vehicle).

“We are pleased with the clinical results of this Phase 2 trial, which show that OMS103HP significantly improved patients’ functional scores, increased their knee flexion and decreased their pain after arthroscopy,” stated Gregory A. Demopulos, M.D., chairman and chief executive officer of Omeros.  “These data are not only consistent with those from our earlier Phase 2 arthroscopic ACL trial that demonstrated functional improvement over a 30-day course of physical therapy, they showed sustained clinical benefit throughout an even longer 90-day follow-up period.”

About OMS103HP

OMS103HP is being developed for use during arthroscopic surgery to reduce postoperative pain and improve postoperative joint motion and function.  OMS103HP is injected into standard arthroscopic irrigation solutions and perfused through the joint in low concentrations during surgery.  It is currently being evaluated in a Phase 3 clinical program for anterior cruciate ligament (ACL) surgery and has also completed a Phase 2 clinical trial for meniscectomy surgery.  If approved, OMS103HP would be the first commercially available drug delivered directly to the surgical site to improve function following arthroscopic surgery.

About Meniscectomy Surgery

Arthroscopic meniscectomy is a minimally invasive surgical procedure to remove or repair a torn meniscus cartilage in the knee. Postoperative recovery to normal function may take months.  Approximately four million arthroscopic operations were performed in the United States in 2006, including 2.6 million knee arthroscopy operations.

About Omeros Corporation

Omeros is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products focused on inflammation and disorders of the central nervous system. The Company’s most clinically advanced product candidates are derived from its proprietary PharmacoSurgery™ platform designed to improve clinical outcomes of patients undergoing a wide range of surgical and medical procedures. Omeros has five ongoing clinical development programs, including four from its PharmacoSurgery™ platform and one from its Addiction program, the most advanced of which is in Phase 3 clinical trials. Omeros may also have the near-term capability, through its GPCR (G-protein coupled receptor) program, to add an unprecedented number of wholly new drug targets to the market. Behind its clinical candidates and GPCR platform, Omeros is building a diverse pipeline of antibody and small-molecule preclinical programs targeting inflammation and central nervous system disorders.

Conference Call and Webcast Today at 4:30 p.m. Eastern Time

The Omeros management team will host a conference call today, March 31, at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time), to discuss the OMS103HP Phase 2 clinical data, as well as the Company’s fourth quarter and year-end 2009 financial results and development highlights.  Interested parties may participate in the conference call by dialing 888-500-6973 (United States and Canada) or 719-457-2637 (International). In addition, the live conference call is being webcast and can be accessed on the “Events” page of the Company’s website at http://www.omeros.com.

A replay of the webcast will be available on the Company’s website for one week.  A telephone replay will also be available for one week starting at 7:30 p.m. Eastern Time on March 31, which can be accessed by dialing 888-203-1112 (United States and Canada) or 719-457-0820 (International) and entering conference ID number 2664433.

Forward-Looking Statements

This press release contains forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995, which are subject to the “safe harbor” created by those sections. Forward-looking statements are based on management’s beliefs and assumptions and on information available to management only as of the date of this press release. Omeros’ actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including, without limitation, the risks, uncertainties and other factors described under the heading “Risk Factors” in the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 19, 2009. Given these risks, uncertainties and other factors, you should not place undue reliance on these forward-looking statements, and the Company assumes no obligation to update these forward-looking statements publicly, even if new information becomes available in the future.

Air Transport Services Group (ATSG) Announces New Long-Term Agreements with DHL

Mar. 30, 2010 (Business Wire) — Air Transport Services Group, Inc. (NASDAQ: ATSG), today announced the execution of new long-term agreements under which the subsidiaries of ATSG will continue providing aircraft and operating support to the U.S. portion of DHL’s international logistics network.

The principal operating agreements are:

• A new five-year Air Transportation Services Agreement between its subsidiary, ABX Air, and DHL, which specifies the terms under which ABX will continue providing 767 aircraft operating support to the U.S. portion of DHL’s international logistics network on a primarily fixed-price, rather than cost-plus basis. The agreement covers Crew, aircraft Maintenance and Insurance (CMI) services necessary to initially operate thirteen scheduled Boeing 767 aircraft in DHL’s domestic cargo network through March 2015, with an option for the parties to extend the agreement through March 2020.
• Seven-year lease agreements between DHL and Cargo Aircraft Management (CAM), ATSG’s aircraft leasing subsidiary, covering thirteen Boeing 767 freighter aircraft, including four aircraft on which DHL held an option to lease under an agreement struck in June 2009. Seven of the thirteen leases are anticipated to become effective in April 2010, with all thirteen targeted to be in place by April 2011, predicated on the conversion schedule for standard 767 freighter door modifications currently underway. ABX Air will provide interim 767 freighter aircraft under similar economic terms as required by DHL until such time as all freighter door modifications are completed.

ABX Air and DHL also entered into an agreement terminating their current ACMI Agreement, which had been in place since August 15, 2003, and was set to expire August 15, 2010. The termination agreement covers the settlement and release of all residual liabilities and commitments related to the ACMI Agreement and former Hub and Line-haul Services Agreement, as well as the Severance and Retention Agreement between the parties.

Key features of these agreements, as well as other significant items agreed between the parties, are summarized below.

CMI Agreement:

• Five year CMI agreement beginning March 31, 2010 with a two year extension right at DHL’s sole option and up to a five-year extension option subject to mutual agreement
• Provides for ABX Air to be the exclusive operator for up to thirteen Boeing 767-200 series aircraft operated in DHL’s U.S. domestic air network
• Firm pricing for 2010 with confirmed annual escalations through 2012; escalations beyond 2012 based on the consumer price index; flight crew costs escalated based on provisions of ABX Air’s labor agreement with its pilots’ union
• Significant incentive potential based upon monthly on-time aircraft performance above target levels, as adjusted for controllable delays; similar disincentive potential for service results below target levels
• Agreed pricing adjustments for flight crew and other costs resulting from an increase or decrease in the number of scheduled aircraft
• DHL to provide fuel at its expense and will reimburse ABX Air for customary pass-through charges
• ABX Air to provide spare aircraft support
• Airborne Maintenance & Engineering Services, Inc., an ATSG subsidiary, to provide airframe heavy maintenance services for the thirteen aircraft from its maintenance facility in Wilmington, Ohio, for a minimum of three years
• Remaining $31.0 million DHL Note to be amortized on a monthly basis so as to be extinguished at the end of the initial five year term, with no cash payment requirement from ABX Air
• Payment by DHL to ABX Air of a material termination fee in the event DHL elects to terminate for convenience (amount reduces during the five year term), with no option to terminate during the first year
• Payment by ABX Air to DHL of a material termination fee in the event DHL terminates the CMI agreement due to an ABX Air event of default (amount reduces during the five-year term)
• DHL’s obligations under the CMI are guaranteed by Deutsche Post AG, DHL’s parent

Lease Agreement:

• Initially, thirteen 767 freighter aircraft, each for a term of seven years; seven commencing on or about April 1, 2010, with the other six anticipated to be in place by April 2011
• ABX Air to provide interim 767 freighter aircraft to DHL under similar economic terms until such time as modifications for all thirteen aircraft are completed
• Leases are guaranteed by Deutsche Post AG, DHL’s parent
• Four of the thirteen leases are for Boeing 767 aircraft for which DHL held lease options pursuant to a June 2009 agreement
• DHL is responsible for the cost of routine airframe heavy maintenance during the term of the lease

Significant Items Resolved through Termination Agreement:

• DHL agreed to pay ABX Air $31.1 million in settlement of open DC-9 and Boeing 767 freighter aircraft put values
• Pursuant to a Letter Agreement between ABX Air and DHL signed in March 2009, ABX agreed to pay $15.0 million toward the outstanding DHL Note balance, thereby reducing the remaining balance outstanding to $31.0 million
• DHL agreed to pay ABX Air an additional $11.2 million for reimbursement of accrued vacation paid out to ABX employees adversely impacted by DHL’s restructuring in the United States. ABX Air agreed to seek no additional reimbursement

Joe Hete, ATSG President and CEO, said, “These new agreements clearly evidence the continuing long-term relationship between ABX Air and DHL and address the significant remaining questions relating to the impact of DHL’s U.S. restructuring on ABX Air. Exiting the cost-plus structure of the ACMI Agreement in favor of the CMI Agreement and aircraft leases provides us an opportunity to achieve appropriate market returns for our assets for years forward, and our customer the opportunity to lock in flexibility and excellent service at a predictable price. We are very pleased to continue to support DHL as it provides its customers premium service for their international freight transiting the United States.”

Ken Allen, Chief Executive Officer of DHL Express and member of the Management Board of the world’s largest logistics company, Deutsche Post World Net, added, “We have a high regard for the service capability of ABX Air and the 767 freighter aircraft it operates on our behalf in the U.S. network, and are pleased to continue to partner with them under the new CMI arrangement.”

Hete concluded, “After months of intensive negotiations, the agreements we are announcing today truly reflect a new chapter for ABX Air. These agreements, coupled with the five-year collective bargaining agreement recently executed with its flight crews, position ABX Air to be a major player in the global ACMI market for years to come. Having emerged from the events of the past year with a stronger balance sheet, greater long-term security and diversity of cash flows, and renewed focus on serving our customers, I believe the ATSG family of companies is well positioned to generate attractive returns for its shareholders and excellent service to its customers in 2010 and beyond.”

Conference Call

Air Transport Services Group will host a conference call to review its financial results for 2009 and these agreements with DHL on Thursday, April 1, 2010, at 10:00 a.m. Eastern Daylight Savings time. Participants should dial (888) 713-4215 and international participants should dial (617) 213-4867 ten minutes before the scheduled start of the call and ask for conference ID #23057952.

The call will also be webcast live (listen-only mode) and will include slides that will progress automatically during the call. If you are joining the teleconference and wish to access the slides please go either to the Company’s website at www.atsginc.com, or to earnings.com for individual investors, and www.streetevents.com for institutional investors. A replay of the conference call will be available beginning two hours after the conclusion of the call. It will be available by phone for eight days after the call at (888) 286-8010 (international callers (617) 801-6888); use pass code ID #81854905. The webcast replay will remain available for 30 days.

About ATSG

ATSG is a leading provider of air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements. Through five principal subsidiaries, including three airlines with separate and distinct U.S. FAA Part 121 Air Carrier certificates, ATSG provides air cargo lift, aircraft leasing, aircraft maintenance services, airport ground services, fuel management, specialized transportation management, and air charter brokerage services. ATSG’s subsidiaries include ABX Air, Inc., Air Transport International, LLC, Capital Cargo International Airlines, Inc., Cargo Aircraft Management, Inc., LGSTX Services, Inc., and Airborne Maintenance and Engineering Services, Inc. For more information, please see www.atsginc.com.

Safe Harbor Statement

Except for historical information contained herein, the matters discussed in this release contain forward-looking statements that involve risks and uncertainties. There are a number of important factors that could cause Air Transport Services Group’s (“ATSG’s”) actual results to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, the timely completion of 767 freighter modifications as anticipated under the new agreements with DHL, ABX Air’s ability to maintain on-time service under the CMI Agreement, and other factors that are contained from time to time in ATSG’s filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers should carefully review this release and should not place undue reliance on ATSG’s forward-looking statements. These forward-looking statements were based on information, plans and estimates as of the date of this release. ATSG undertakes no obligation to update any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes.

ArQule (ARQL) Announces Results of Phase 2 Trial

Mar. 31, 2010 (Business Wire) — ArQule, Inc. (Nasdaq: ARQL) today announced that ARQ 197, when used in combination with erlotinib, demonstrated a 66% improvement in median Progression-Free Survival (PFS) in patients with advanced, refractory non-small cell lung cancer (NSCLC). In the intent to treat (ITT) population (n = 167), median PFS was 16.1 weeks in the ARQ 197 plus erlotinib arm, compared with 9.7 weeks in the erlotinib plus placebo arm.

The difference in PFS between the two arms did not achieve statistical significance (hazard ratio = 0.809) by applying a log-rank test. When adjusting for imbalances in the distribution of key prognostic factors, the difference in PFS was statistically significant (hazard ratio = 0.675) by applying a Cox regression analysis specified for secondary efficacy analyses.

Improvement in median PFS was more pronounced in the pre-defined sub-group of patients with non-squamous histology (n = 117); median PFS was 18.9 weeks in the treatment arm versus 9.7 weeks in the control arm, which represents a 94% improvement. Based on an exploratory Cox regression analysis, the endpoint of PFS was met in the sub-group and achieved statistical significance (hazard ratio = 0.613).

There were no clinically relevant differences in adverse event rates between the treatment and control arms. The majority of adverse events were mild in intensity and included rash, diarrhea and fatigue.

“We believe the treatment benefit observed in this trial would represent a meaningful clinical improvement over standard therapy if replicated in Phase 3 trials,” said Dr. Brian Schwartz, chief medical officer of ArQule. “We are especially encouraged by the potential benefit for the large sub-group of non-squamous cell patients. We will thoroughly analyze our extensive database from this trial, including additional patient sub-group characteristics, to optimize ongoing and future trials of ARQ 197.”

Complete data from this trial, which will include biomarker analyses, will be presented at a future medical meeting during 2010.

One hundred sixty-seven patients were evaluated in the Phase 2 trial. Participating patients were EGFR (epidermal growth factor receptor) inhibitor naïve and were randomized one-to-one to receive either the combination of ARQ 197 plus erlotinib or placebo plus erlotinib in second and third line settings. ARQ 197 is an orally available, small molecule inhibitor of the c-Met receptor tyrosine kinase. Erlotinib, marketed as Tarceva™, is an inhibitor of the EGFR tyrosine kinase.

ARQ 197 is also currently being evaluated in clinical trials as a single agent and in combination with other anti-cancer therapies in a number of indications, including c-Met-associated soft-tissue sarcomas, hepatocellular carcinoma, pancreatic adenocarcinoma, germ cell tumors and colorectal cancer.

Patients, physicians and other healthcare professionals seeking additional information regarding trials involving ARQ 197 may call 1-800-373-7827.

The American Cancer Society’s estimates of the impact of lung cancer in the U.S. during 2009 include approximately 219,000 new cases (both non-small cell and small cell) and 159,000 deaths resulting from the disease, accounting for 28 percent of all cancer deaths. Lung cancer is the leading cause of cancer death among both men and women.

Conference Call and Webcast

ArQule will hold a conference call at 8:30 a.m. eastern time today, March 31, 2010 to discuss the results of the trial described above.

A replay of the conference call will be available beginning at Noon on March 31, 2010 for seven days and can be accessed by dialing toll-free (800) 642-1687 and outside the U.S. (706) 645-9291. The confirmation code for replayed calls is 66413046.

About c-Met and ARQ 197

When abnormally activated, the c-Met receptor tyrosine kinase plays multiple roles in aspects of human cancer, including cancer cell growth, survival, angiogenesis, invasion and metastasis. Pre-clinical data have demonstrated that ARQ 197 inhibits c-Met activation in a range of human tumor cell lines and shows anti-tumor activity against several human tumor xenografts. In clinical trials to date, treatment with ARQ 197 has been well tolerated and has resulted in tumor responses and prolonged stable disease across broad ranges of tumors and doses.

About ArQule, Inc. and Daiichi Sankyo, Co., Ltd.

On December 19, 2008, ArQule and Daiichi Sankyo, Co., Ltd. signed a license, co-development and co-commercialization agreement to co-develop ARQ 197 in the U.S., Europe, South America and the rest of the world, excluding Japan, China (including Hong Kong), South Korea and Taiwan, where Kyowa Hakko Kirin Co., Ltd. has exclusive rights for development and commercialization.

About ArQule

ArQule is a biotechnology company engaged in the research and development of next-generation, small-molecule cancer therapeutics. The Company’s targeted, broad-spectrum products and research programs are focused on key biological processes that are central to human cancers. ArQule’s lead product, in Phase 2 clinical development, is ARQ 197, an inhibitor of the c-Met receptor tyrosine kinase. The Company is also conducting Phase 1 clinical testing with ARQ 621, designed to inhibit the Eg5 kinesin motor protein. The Company’s pre-clinical pipeline includes a compound designed to inhibit the B-RAF kinase. ArQule’s current discovery efforts, which are based on the ArQule Kinase Inhibitor Platform (AKIP™), are focused on the identification of novel kinase inhibitors that are potent, selective and do not compete with ATP (adenosine triphosphate) for binding to the kinase. The most advanced AKIP™ program is focused on the discovery of inhibitors of fibroblast growth factor receptor (FGFR).

This press release contains forward-looking statements regarding the progress of the Company’s clinical trials, including its Phase 2 trial with ARQ 197 in non-small cell lung cancer (NSCLC) and trials which may be conducted by Daiichi Sankyo and/or Kyowa Hakko Kirin under their agreements with the Company. These statements are based on the Company’s current beliefs and expectations, and are subject to risks and uncertainties that could cause actual results to differ materially. Positive information about early stage clinical trial results is not necessarily indicative of clinical efficacy and does not ensure that later stage or larger scale clinical trials will be successful. For example, ARQ 197 may not demonstrate promising therapeutic effect; in addition, this compound may not demonstrate an appropriate safety profile in further pre-clinical testing and in current, later stage or larger scale clinical trials as a result of known or as yet unanticipated side effects. The results achieved in later stage trials may not be sufficient to meet applicable regulatory standards. Problems or delays may arise during clinical trials or in the course of developing, testing or manufacturing these compounds that could lead the Company or its partner to discontinue development. Even if later stage clinical trials are successful, the risk exists that unexpected concerns may arise from analysis of data or from additional data or that obstacles may arise or issues be identified in connection with review of clinical data with regulatory authorities or that regulatory authorities may disagree with the Company’s view of the data or require additional data, information or studies. In addition, the planned timing of initiation and completion of clinical trials for ARQ 197 are subject to the ability of the Company or Daiichi Sankyo, its partner, and Kyowa Hakko Kirin, a licensee of ARQ 197, to enroll patients, enter into agreements with clinical trial sites and investigators, and other technical hurdles and issues that may not be resolved. Moreover, Daiichi Sankyo has certain rights to unilaterally terminate the ARQ 197 license, co-development and co-commercialization agreement. Drug development involves a high degree of risk. Only a small number of research and development programs result in the commercialization of a product. Furthermore, ArQule may not have the financial or human resources to pursue drug discovery successfully in the future. For more detailed information on the risks and uncertainties associated with the Company’s drug development and other activities see the Company’s periodic reports filed with the Securities and Exchange Commission. The Company does not undertake any obligation to publicly update any forward-looking statements.

Versar (VSR) Awarded $7.6 Million Contract by U.S. Environmental Protection Agency

Mar. 30, 2010 (Business Wire) — Versar, Inc. (NYSE Amex:VSR) announced today that it was awarded a five-year, $7.6 million contract to review and evaluate pesticide product and residue chemistry data by the Office of Pesticide Programs (OPP), Health Effects Division (HED), of the U.S. Environmental Protection Agency (EPA). The EPA’s award of this new contract to Versar increases the total number of contracts to six currently managed by Versar’s Exposure and Risk Assessment Division.

Under this new contract, Versar will review and evaluate product and residue chemistry data for the registration and re-registration of pesticides; perform data analysis and database development; and prepare technical presentations. The support under this contract will assist the OPP under their regulatory mandates, and will continue Versar’s more than 20 years of support to the EPA’s pesticide exposure assessment programs.

Tony Otten, CEO of Versar, said, “Versar continues to expand our funded backlog with the win of important new contracts. While Versar has worked with the EPA’s pesticides program for two decades, this win moves us into new areas and scientific disciplines. The EPA’s pesticides programs are among the EPA’s highest priorities to better characterize chemical exposures and risks to our communities. Versar brings innovative approaches and rigorous scientific analysis to support EPA’s programs that ensure the safety of all our citizens.”

VERSAR, INC., headquartered in Springfield, VA, is a publicly held international professional services firm supporting government and industry in national defense/homeland defense programs, environmental health and safety and infrastructure revitalization. VERSAR operates a number of web sites, including the corporate Web sites, http://www.versar.com, http://www.homelanddefense.com, http://www.geomet.com; http://www.viap.com; http://www.dtaps.com; www.ppsgb.com; www.adventenv.com.

This press release contains forward-looking information. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be significantly impacted by certain risks and uncertainties described herein and in Versar’s Annual Report on Form 10-K filed with the Securities and Exchange Commission for the year ended June 26, 2009. The forward-looking statements are made as of the date hereof and Versar does not undertake to update its forward-looking statements.

LGL Group (LGL) Names LaDuane Clifton Chief Accounting Officer

ORLANDO, Fla., March 30, 2010 (GLOBE NEWSWIRE) — The LGL Group, Inc. (NYSE Amex:LGL) today announced the appointment of R. LaDuane Clifton, CPA, as its Chief Accounting Officer. Mr. Clifton had previously served as the Company’s Corporate Controller since August 2009. Prior to joining the Company, Mr. Clifton was CFO of a21, Inc. (Jacksonville, FL), a publicly-held holding company in the stock photography and home decor industries, and a Senior Associate of KMPG LLP, the international accounting and management consulting firm.

LGL, through its wholly-owned subsidiary MtronPTI, is a leading producer of frequency control, filter and integrated subsystems for the multi-billion dollar telecom, military, space satellite and avionics markets.

Mr. Clifton will report to LGL Chief Executive Greg Anderson. He will focus on corporate cost reductions and furthering the firm’s ongoing efforts to set the Company on the path to profitability. “We are pleased to have LaDuane on board, given his deep background in finance and accounting, his proven ability to interact with investors and his talent for budgeting and development of strategic initiatives,” Mr. Anderson said.

About The LGL Group, Inc.

The LGL Group, Inc., through its wholly-owned subsidiary MtronPTI, manufactures and markets highly engineered electronic components used to control the frequency or timing of signals in electronic circuits. These devices are used extensively in infrastructure equipment for the telecommunications and network equipment industries. They are also used in electronic systems for military applications, avionics, earth-orbiting satellites, medical devices, instrumentation, industrial devices and global positioning systems. The Company has operations in Orlando, Florida, Yankton, South Dakota and Noida, India. MtronPTI also has a sales office in Hong Kong, China.

For more information on the Company and its products and services, contact Greg Anderson at The LGL Group, Inc., 2525 Shader Rd., Orlando, Florida 32804, (407) 298-2000, or visit the Company’s Web site: www.lglgroup.com.

Caution Concerning Forward Looking Statements

This document includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. More detailed information about those factors is contained in the Company’s filings with the Securities and Exchange Commission.

Socket Mobile (SCKT) and 3M Collaborate to Provide Secure, Flexible Asset Tracking Solution

NEWARK, CA — (Marketwire) — 03/30/10 — Socket Mobile, Inc. (NASDAQ: SCKT), an innovative provider of mobile productivity solutions, today announced with 3M Track and Trace Solutions that it will provide a flexible, easy and secure method of tracking, locating and managing assets. This 3M Asset and Inventory Tracking System solution will be composed of 3M software, 3M RFID or barcode tags and Socket hardware including the Socket SoMo 650 handheld computer and the dual-function Socket CompactFlash RFID Reader-Scan Card™ 6P.

“The Socket SoMo 650 and CF RFID Reader-Scan card combination is a powerful tool for mobile asset management and satisfies our requirements in terms of a wireless handheld reader for the 3M Asset and Inventory Tracking System,” said Tom Mercer, Market Development Supervisor at 3M Track and Trace Solutions.

The 3M Asset and Inventory Tracking System allows businesses to streamline their operations by efficiently monitoring and managing assets and inventory. The system is compatible with both 3M and third-party RFID and barcode tags, giving companies greater flexibility in selecting a solution that meets their needs. In addition, data is backed up automatically in a Tier III data center, where it can be accessed any time and from anywhere, eliminating the need to install and configure additional servers.

“The 3M Asset and Inventory Tracking System is geared specifically toward small and medium businesses where maximizing profits and minimizing costs is essential to operating successfully,” said Chuck Furedy, senior vice president of worldwide sales at Socket Mobile. “Socket has a long-standing history of providing SMBs with innovative solutions that increase productivity and efficiency, and we’re excited to work with 3M as they bring their solution to market.”

For more information and to purchase visit the 3M Asset and Inventory Tracking System Web page.

About 3M
A recognized leader in research and development, 3M produces thousands of innovative products for dozens of diverse markets. 3M’s core strength is applying its more than 40 distinct technology platforms — often in combination — to a wide array of customer needs. With $23 billion in sales, 3M employs 76,000 people worldwide and has operations in more than 65 countries. For more information, visit www.3M.com.

About 3M Track and Trace Solutions
3M provides comprehensive, practical and easy to use solutions for customers in diverse markets, including health care, safety and security, aerospace and government, oil and gas, process industries, supply chain, construction and utilities, libraries and legal. Utilizing RFID, GPS and other technologies, our asset management, protection, and utilization solutions enable customers to reliably and accurately manage high-value assets. Unlike similar offerings, based on components rather than complete solutions, 3M systems are designed with full implementation in mind, deploying the right solution, with the right technology, suited for the customer. For more information, go to www.3Mtrackandtrace.com.

About Socket Mobile, Inc.
With more than 15 years of experience in the Automatic Identification and Data Capture market, Socket makes mobile computing and productivity work. The company offers a family of handheld computers and an extensive portfolio of AIDC peripherals designed specifically for business mobility deployments and to enable productivity increases and drive operational efficiencies in healthcare, hospitality and other vertical markets. The company also offers OEM solutions. Socket is headquartered in Newark, Calif. and can be reached at 510-933-3000 or www.socketmobile.com.

Socket, SoMo and CompactFlash RFID Reader-Scan Card are trademarks or registered trademarks of Socket Mobile, Inc. 3M is a trademark of 3M Company. All other trademarks and trade names contained herein may be those of their respective owners.

Microsemi Corporation (MSCC) to Acquire White Electronic Designs Corporation

Mar. 30, 2010 (GlobeNewswire) —

Food Technology Service, Inc. (VIFL) Reports Earnings

Mar. 30, 2010 (Business Wire) — Food Technology Service, Inc. (Nasdaq: VIFL) today announced financial results for the year ending December 31, 2009. The Company had revenue of $2,515,978 in 2009 which is comparable to the $2,507,078 realized in 2008. Income before taxes was $559,358 in 2009 compared to $505,387 in 2008, an increase of about 10.7 per cent. Income per share before taxes was $0.203 for 2009 compared to $0.183 for 2008.

The Company periodically evaluates the value of tax-loss carry-forward credits on its financial statements as required by Generally Accepted Accounting Principles. In 2008, the Company increased the value of the tax-loss carry-forward credits which increased net income in 2008 and stockholders equity at December 31, 2008 by $525,000. Based on increased profitability in 2009 and potential future profitability, the Company again increased the value of the tax-loss carry-forward credits which increased net income in 2009 and stockholders equity at December 31, 2009 by $139,000. Due to the tax credit adjustments, the Company had net income of $698,358 or $0.253 per share in 2009 compared to net income of $1,030,387 or $0.374 per share in 2008.

Revenue for the fourth quarter of 2009 was $640,039 compared to $641,731 during the same period in 2008.

Food Technology Service, Inc. CEO Dr. Richard Hunter said, “I am pleased by our increased profitability despite the loss of a large customer that was purchased and moved to Texas early in 2009. The fact that annual and fourth quarter revenues were nearly identical between 2009 and 2008 is an indication that the Company has replaced much of that business. We continue to generate over $1,000,000 per year in cash flow and retired nearly $630,000 in debt during 2009. This negates all stock conversion rights held on that debt and we are debt-free.”

Food Technology Service, Inc. provides irradiation services for food items, medical products and consumer goods to enhance the safety of those products. The Company is certified to ISO 13485:2003 standards for radiation sterilization services for medical devices.

Except for historical matters contained herein, the matters discussed in this press release are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risk and uncertainties that may affect business and prospects and cause actual results to differ materially from these forward-looking statements.

Rosetta Genomics (ROSG) Announces Publication of the Development and Validation Process of miRview(TM)

Mar. 29, 2010 (Business Wire) — Rosetta Genomics, Ltd. (NASDAQ:ROSG), a leading developer and provider of microRNA-based molecular diagnostics, announces publication of an article describing the development and validation process of miRview™ mets, the company’s microRNA-based test for identification of primary origin of metastases. The article, “Validation of a microRNA-based qRT-PCR test for accurate identification of tumor tissue origin,” was published on March 26^th in the online issue of Modern Pathology, a peer-reviewed publication. The abstract of the study may be viewed online at: http://www.nature.com/modpathol/journal/vaop/ncurrent/abs/modpathol201057a.html

It is estimated that more than 70,000 patients in the U.S. are diagnosed with CUP, and thousands more have metastases where the origin is difficult to identify. Knowing the origin of a metastasis affects treatment decisions, and CUP patients may undergo a wide range of costly, time-consuming and inefficient tests to identify the primary site of origin, often to no avail.

The miRview™ mets test, which included more than 850 samples in its development and validation, uses two classifiers that independently look for a primary origin. When the two classifiers reach the same answer, the test reports a single predicted origin. When the two classifiers identify two different predicted origins, both are reported. In the study described in Modern Pathology, the overall sensitivity was approximately 85%, and the sensitivity of a single answer prediction was approximately 90%. Overall specificity was 97%-99%.

“This publication is yet another validation of the significant advantage of microRNAs as biomarkers,” said Kenneth A. Berlin, President and CEO of Rosetta Genomics. “Their high tissue specificity, stability in a wide range of sample types and the large amount of biological information they carry makes microRNAs ideal biomarkers for a range of disease states and indications, including metastatic cancer. As we have previously announced, we expect to launch a second generation of our miRview™ mets in the second half of 2010. This new version is expected to be able to identify approximately twice the number of origins compared with the first generation test.”

miRview™ mets leverages Rosetta Genomics’ proprietary microRNA technologies to assign a primary site to metastases in cases where the physician is unsure of its origin. These technologies were described in-depth in a study by Rosetta Genomics, published March 2008 in Nature Biotechnology.

miRview™ mets is marketed in the U.S. by Prometheus Laboratories under the ProOnc™ mets brand, and is available outside the U.S. through various distributors under the miRview™ mets brand.

About microRNAs

MicroRNAs (miRNAs) are recently discovered, small RNAs that act as master regulators of protein synthesis, and have been shown to be highly effective biomarkers. MicroRNAs’ unique advantage as biomarkers lies in their high tissue specificity, and their exceptional stability in the most routine preservation methods for biopsies, including Formalin Fixed Paraffin Embedded (FFPE) block. It has been suggested that their small size (19-21 nucleotides) enables them to remain intact in FFPE blocks, as opposed to messenger RNA (mRNA), which tends to degrade rapidly in samples preserved by this method. In addition, early preclinical data has shown that by controlling the levels of specific microRNAs, cancer cell growth may be reduced. To learn more about microRNAs, please visit www.rosettagenomics.com.

About miRview™ Products

miRview™ are a series of microRNA-based diagnostic tests developed by Rosetta Genomics. miRview™ mets accurately identifies the primary tumor site in metastatic cancer and Cancer of Unknown Primary. miRview™ squamous accurately identifies the squamous subtype of NSCLC, which carries an increased risk of severe of fatal internal bleeding and poor response to treatment for certain therapies. miRview™ meso diagnoses mesothelioma, a cancer connected to asbestos exposure. miRview™ tests are designed to provide objective diagnostic data; it is the treating physician’s responsibility to diagnose and administer the appropriate treatment. In the U.S. alone, over 100,000 patients a year may benefit from the miRview™ mets test, 60,000 from miRview™ squamous, and 60,000 from miRview™ meso, with similar numbers of patients outside the U.S. The company’s tests are now being offered through distributors around the globe. For more information, please visit www.mirviewdx.com.

About Rosetta Genomics

Rosetta Genomics is a leading developer of microRNA-based molecular diagnostics. Founded in 2000, the company’s integrative research platform combining bioinformatics and state-of-the-art laboratory processes has led to the discovery of hundreds of biologically validated novel human microRNAs. Building on its strong patent position and proprietary platform technologies, Rosetta Genomics is working on the application of these technologies in the development of a full range of microRNA-based diagnostic tools. The company’s first three microRNA-based tests, miRview™ squamous, miRview™ mets and miRview™ meso, are commercially available through its Philadelphia-based CLIA-certified lab. Rosetta Genomics is the 2008 winner of the Wall Street Journal’s Technology Innovation Awards in the medical/biotech category. To learn more, please visit www.rosettagenomics.com.

Forward-Looking Statement Disclaimer

Various statements in this release concerning Rosetta’s future expectations, plans and prospects, including without limitation, statements relating to the expected launch of a second generation of miRview mets in the second half of 2010, the role of microRNAs in human physiology and disease, and the potential of microRNAs in the diagnosis and treatment of disease, constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including risks related to: Rosetta’s approach to discover microRNA technology and to work on the application of this technology in the development of novel diagnostics and therapeutic tools, which may never lead to commercially accepted products or services; Rosetta’s ability to obtain, maintain and protect its intellectual property; Rosetta’s ability to enforce its patents against infringers and to defend its patent portfolio against challenges from third parties; Rosetta’s need and ability to obtain additional funding to support its business activities; Rosetta’s dependence on third parties for development, manufacture, marketing, sales, and distribution of products; Rosetta’s ability to successfully develop its products and services; Rosetta’s ability to obtain regulatory clearances or approvals that may be required for its products and services; the ability to obtain coverage and adequate payment from health insurers for the products and services comprising Rosetta’s technology; competition from others using technology similar to Rosetta’s and others developing products for similar uses; Rosetta’s dependence on collaborators; and Rosetta’s short operating history; as well as those risks more fully discussed in the “Risk Factors” section of Rosetta’s Annual Report on Form 20-F for the year ended December 31, 2008 as filed with the Securities and Exchange Commission. In addition, any forward-looking statements represent Rosetta’s views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Rosetta does not assume any obligation to update any forward-looking statements unless required by law.

MDRNA, Inc. (MRNA) Announces Patent Allowance Covering Methods for Cell Specific Delivery of siRNAs

BOTHELL, WA — (Marketwire) — 03/29/10 — MDRNA, Inc. (NASDAQ: MRNA), a leading RNAi-based drug discovery and development company, today announced that the U.S. Patent and Trademark Office (USPTO) has issued a Notice of Allowance for patent application U.S. 12/701,397 covering methods for the delivery of siRNAs as well as a broad array of compounds with pharmacological activity. The patent identifies and protects peptides that were discovered using MDRNA’s proprietary Trp Cage Phage Display Library and describes targeting peptides that demonstrate high binding affinity to, and internalization by, hepatocellular carcinoma cells.

“Specificity to individual cell types and internalization are key attributes required for peptide-directed delivery,” said Barry Polisky, Ph.D., Chief Scientific Officer of MDRNA. “The Trp Cage Phage Display Library is proving to be a robust means to screen and identify peptides that impart these targeting characteristics. The addition of these novel peptides to our proprietary DiLA2 delivery platform technology permits the potential development of highly tissue- and cell-specific RNAi-based therapies for the treatment of cancers in which the need to differentiate between normal and diseased cells is important.”

MDRNA’s proprietary Trp Cage Phage Display Library (J Biol Chem. 2007 282(13):9813) is the subject of an issued patent, U.S. patent 7,329,725. The Trp Cage motif is highly structured allowing for the identification of peptides with high binding affinity for specific cell or tissue types, and avoids the limitations and weak binding often associated with linear peptide libraries. This technology is directly applicable to the Company’s DiLA2 delivery platform as peptides are readily conjugated to the amino acid scaffold of a DiLA2. Peptides capable of directed delivery are expected to further improve the delivery efficiency of UsiRNAs, which have demonstrated significant knockdown of target genes in mouse models of liver and bladder cancer, and in non-human primates.

“This is the second Notice of Allowance that we have received in the past four months from the USPTO for a patent application that covers the use of our proprietary targeting peptide technology,” said J. Michael French, President and CEO of MDRNA. “We are pleased that the USPTO recognizes the novelty and significance of our proprietary peptide targeting technology. The identification of additional peptides with high affinity to specific cell types, including certain cancers, further strengthens our broad patent estate.”

On December 17, 2009, MDRNA received a Notice of Allowance from the USPTO for patent application U.S. 11/627,863, which covers the use of targeting peptides that have preferential binding affinity for lung tissue.

About MDRNA’s Technology

MDRNA has a broad intellectual property estate that encompasses four key RNAi technology platforms: siRNA constructs, chemistry, nucleic acid delivery, and gene targets. The MDRNA-owned siRNA constructs and chemistry include its proprietary UsiRNA construct, which is a duplex siRNA chemically modified with non-nucleotide acyclic monomers (UNAs), and is distinct from the standard siRNA construct used by others in the industry. UsiRNAs are fully recognized by the RNAi machinery and provide for potent RNAi activity while specific placement of UNAs in a duplex siRNA minimizes potential off-target effects by the guide strand and reduces undesired passenger strand activity. Furthermore, UsiRNAs escape the surveillance mechanisms associated with cytokine induction, and provide protection from nuclease degradation.

The MDRNA delivery platforms include DiLA2 and nanoparticle forming peptides. DiLA2 is an MDRNA proprietary delivery platform of novel synthetic di-alklylated amino acid compounds used to make liposomal delivery formulations. The DiLA2 platform enables MDRNA to tailor the charge, linker and acyl chains of amino acids in order to configure liposomes for delivery to target tissues of interest. In addition, the platform is designed to permit attachment of various peptides and other targeting molecules to improve a variety of delivery characteristics. The MDRNA peptide nanoparticle platform includes exclusively in-licensed and developed IP surrounding the use of peptides for nanoparticle formulations that increase cellular uptake and endosomal release of siRNAs. MDRNA is currently biopanning its patented phage display library to identify additional peptides for targeted delivery, cellular uptake and endosomal release of siRNA.

MDRNA owns or controls 16 issued or allowed patents, and has 36 pending patent applications, 126 pending foreign patent applications and 7 PCT applications.

About MDRNA, Inc.

MDRNA is a biotechnology company focused on the development and commercialization of therapeutic products based on RNA interference (RNAi). Our goal is to improve human health through the development of RNAi-based compounds and drug delivery technologies that together provide superior therapeutic options for patients. Over the past decade, we have developed substantial capabilities in molecular biology, cellular biology, amino acid chemistry, peptide chemistry, pharmacology and bioinformatics, which we are applying to a wide range of RNAi technologies and delivery approaches. These capabilities plus the in-licensing of key RNAi-related intellectual property have rapidly enabled us to become a leading RNAi-based therapeutics company with a pre-clinical pipeline in oncology. Through our capabilities, expertise and know-how, we are incorporating multiple RNAi technologies as well as peptide- and liposomal-based delivery approaches into a single integrated drug discovery platform that will be the engine for our clinical pipeline as well as a versatile platform for establishing broad therapeutic partnerships with biotechnology and pharmaceutical companies. We are also investing in new technologies that we expect to lead to safer and more effective RNAi-based therapeutics while aggressively building upon our broad and extensive intellectual property estate. By combining broad expertise in siRNA science with proven delivery platforms and a strong IP position, MDRNA is well positioned as a leading RNAi-based drug discovery and development company. Additional information about MDRNA, Inc. is available at http://www.mdrnainc.com.

MDRNA Forward-Looking Statements

Statements made in this news release may be forward-looking statements within the meaning of Federal Securities laws that are subject to certain risks and uncertainties and involve factors that may cause actual results to differ materially from those projected or suggested. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to: (i) the ability of MDRNA to obtain additional funding; (ii) the ability of MDRNA to attract and/or maintain manufacturing, research, development and commercialization partners; (iii) the ability of MDRNA and/or a partner to successfully complete product research and development, including preclinical and clinical studies and commercialization; (iv) the ability of MDRNA and/or a partner to obtain required governmental approvals; and (v) the ability of MDRNA and/or a partner to develop and commercialize products that can compete favorably with those of competitors. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in MDRNA’s most recent periodic reports on Form 10-K and Form 10-Q that are filed with the Securities and Exchange Commission. MDRNA assumes no obligation to update and supplement forward-looking statements because of subsequent events.

Oxygen Biotherapeutics (OXBT) Now Marketing New Formulation of Dermacyte(TM) Oxygen Concentrate

DURHAM, N.C., March 29, 2010 (GLOBE NEWSWIRE) — Oxygen Biotherapeutics, Inc. (Nasdaq:OXBT) today announced that the company has begun distribution for its newly formulated Dermacyte™ Oxygen Concentrate for the beauty and skin care market. The over-the-counter product is a scientifically designed perfluorocarbon concentrate to enhance oxygen delivery to skin. As of later this week, retail orders also can be placed on the Dermacyte secure website at www.BuyDermacyte.com.

“Inventory of Dermacyte™ sold out quickly last fall when it was originally introduced in a market test designed to gauge customer interest and response,” said Chris Stern, company chairman and CEO. “The feedback we received from customers was quite positive. We’ve improved the Dermacyte concentrate to be smoother and more effective. Therefore, we believe that our new cosmetic line has the potential to be a significant financial contributor to our company.”

Dermacyte™ Oxygen Concentrate is the first product in a broad and diverse cosmetic line currently under development. It uses the company’s patented Oxycyte technology, an oxygen carrier scientifically designed to enhance oxygen delivery to tissues such as skin. Some potential benefits of increased oxygenation to the skin include a decrease in the appearance of fine lines, wrinkles and dryness.

About Oxygen Biotherapeutics, Inc.

Oxygen Biotherapeutics, Inc. is dedicated to commercializing innovative pharmaceuticals and medical devices in the field of oxygen therapeutics and Defense Medicine™. The company has developed a perfluorocarbon (PFC) therapeutic oxygen carrier and liquid ventilation product (Oxycyte™) and has out-licensed an implantable glucose sensor. These products are based upon core technologies that include biomedical applications for PFCs as well as medical and industrial applications for biosensors. Each of the product candidates is designed with advantages over currently marketed products in major markets including traumatic brain injury, sickle cell crisis, trauma, wound care, decompression sickness, acute respiratory distress syndrome, stroke, myocardial infarction, surgery, diabetes wounds and ulcers, and cosmetic applications which are being marketed under the Dermacyte name. More information is available at www.oxybiomed.com.

The Oxygen Biotherapeutics, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7277

Caution Regarding Forward-Looking Statements

This news release contains certain forward-looking statements by the company that involve risks and uncertainties and reflect the company’s judgment as of the date of this release. These statements include those referring to the plans for the expansion of the Dermacyte product line and the timing of the introduction of those new products. Matters beyond the company’s control could lead to delays in the in the new product introductions and customer acceptance of these new products. Furthermore, there can be no assurance that such plans will lead to meaningful sales of Dermacyte or generate any revenue for the company. The company disclaims any intent or obligation to update these forward-looking statements beyond the date of this release. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Bell Microproducts (BELM) Announces Agreement to be Acquired by Avnet

SAN JOSE, Calif., March 29, 2010 (GLOBE NEWSWIRE) — Bell Microproducts Inc. (Nasdaq:BELM) (“Bell”) announced today that it has entered into a definitive agreement to be acquired by Avnet, Inc. (“Avnet”) in an all cash merger for $7.00 per share. The total transaction value of approximately $594 million is based upon an equity value of approximately $252 million and a Bell debt position, at face value and net of cash, of $342 million at December 31, 2009.  The acquisition has been approved by the Boards of Directors of both companies and is subject to the approval of Bell’s shareholders as well as customary regulatory approvals. The transaction is expected to close in 60 to 120 days.

Don Bell, founder and Chief Executive Officer of Bell, commented, “This transaction delivers excellent value to our shareholders while providing an enhanced platform from which our employees can continue Bell’s heritage of helping suppliers reach our served markets with increasingly complex solutions. Given the rising demands of global technology markets, the investment required to deliver leading edge technical support and competitive supply chain networks continues to grow. Avnet’s financial resources and global infrastructure will allow the Bell organization to deliver industry-leading value to our customers and continue our long history of growth and market share gains.”

Roy Vallee, Avnet’s Chairman and Chief Executive Officer, commented, “We are very excited about the opportunity to build additional scale and scope in storage and computing solutions as well as increase our presence in the fast-growing Latin America market. Bell’s position in datacenter products and embedded systems complements Avnet’s current strategies and creates opportunities for cross selling. Bell’s position as one of the leaders in hard disk drive distribution substantially increases Avnet’s exposure to this product segment which is currently focused on embedded computing. In support of our focus on value-added solutions distribution in North America, we intend to explore strategic alternatives for the single tier reseller business. The combination of Bell’s strong customer/supplier relationships and talented employees, coupled with our value based management culture and discipline, should allow us to achieve our stated return on capital goals on this transaction following the completion of the integration.”

Raymond James acted as a financial advisor and Jones Day acted as legal counsel to Bell in connection with this transaction.

Updated First Quarter 2010 Financial Outlook

Bell currently expects to generate first quarter 2010 sales of $795 million to $815 million, an increase of 11% to 14% from the first quarter of 2009, and on the high-end of the previous first quarter sales guidance of $780 million to $815 million. Further, management is anticipating a first quarter shift in product mix. Distribution sales are expected to be relatively strong and approximately flat with Q4 sales levels, representing an estimated increase of 17% to 20% from the first quarter of 2009.  ProSys, the Company’s reseller division, is expected to generate lower than previously anticipated sales volumes, primarily due to seasonally lower purchases by a few large customers. Due to this product mix shift from higher margin single-tier sales and in part due to seasonality, the Company anticipates generating first quarter gross margins of between 8.5% and 9.0%, a decline from 9.4% in the fourth quarter of 2009.

Conference Call

A conference call relating to the announcement has been scheduled for today, March 29, 2010 at 8:30 AM ET (5:30 AM PT).  Please dial (201) 689-8840 to listen to the call.  In addition, a live internet broadcast will be available via Bell’s website at www.bellmicro.com.  A replay will be available approximately 2–3 hours after the call ends.  To access the replay, please dial 1-877-660-6853 or (201) 612-7415, account number 7815 and conference ID of 348184.

Forward Looking Statements

Some of the statements included in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You should not place undue reliance on these statements. These forward-looking statements include statements that reflect the current views of our senior management with respect to our financial performance and future events with respect to our business and our industry in general. Statements that include the words “expect,” “intend,” “plan,” “believe,” “anticipate,” “estimate” and similar statements of a future or forward-looking nature identify forward-looking statements. Statements regarding the merger, the closing of the merger and our first quarter 2010 financial outlook are forward-looking statements.

Forward-looking statements address matters that involve risks and uncertainties, for example, if we do not receive the required shareholder approval or the parties may fail to satisfy other conditions to closing, the transaction will not be consummated. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these statements. We believe that these factors include, but are not limited to, the following: our ability to comply with the financial covenants in our credit agreements; our ability to achieve cost reductions and other benefits in connection with our strategic initiatives; the circumstances resulting in the restatement of our historical financial statements and the material weaknesses in our internal control over financial reporting and in our disclosure controls and procedures; our ability to remain current in our SEC filings; loss or adverse effect on our supplier relationships; our ability to accurately forecast customer demand and order sufficient product quantities; competition in the markets in which we operate; the products we sell may not satisfy shifting customer demand; our reliance on third parties to manufacture the products we sell; our reliance on credit provided by our manufacturers to finance our inventory purchases; risks related to our substantial indebtedness, including the inability to obtain additional financing for our operations on terms acceptable to us or at all; limitations on our operating and strategic flexibility under the terms of our debt agreements; our ability to attract and retain qualified personnel; risks associated with doing business abroad, including foreign currency risks; our inability to identify, acquire and integrate acquired businesses; the outcome of any pending or future litigation or regulatory proceedings, including the pending French tax proceeding, the current shareholder lawsuit and any claims or litigation related to the restatement of our consolidated financial statements; the effects of a prolonged economic downturn; and our ability to reduce professional fees for audit, legal, tax and outside accounting advisor services.

For a more detailed discussion of how these and other risks and uncertainties could cause our actual results to differ materially from those indicated in our forward-looking statements, see our reports filed with SEC (available at www.sec.gov), including our Annual Report on Form 10-K for the year ended December 31, 2009.

About Bell

Bell Microproducts (Nasdaq:BELM) is an international, value-added distributor of a wide range of high-tech products, solutions and services, including storage systems, servers, software, computer components, and peripherals, as well as maintenance and professional services. An industry-recognized specialist in storage products, the Company is one of the world’s largest storage-centric value-added distributors.

Bell Microproducts is uniquely qualified with deep technical and application expertise to service a broad range of information technology needs. From design to deployment, its products are available at any level of integration, from components to subsystem assemblies and fully-integrated, tested and certified system solutions. More information can be found in the Company’s SEC filings, or by visiting the Bell Microproducts website at http://www.bellmicro.com.

Servidyne (SERV) Announces Its Largest Energy Savings Contract to Date

Mar. 29, 2010 (Business Wire) — SERVIDYNE, INC. (Nasdaq: SERV), an energy efficiency and demand response company, today reported that it has entered into a contract with a major U.S. retailer to dramatically improve the energy efficiency of approximately 600 of its stores and distribution centers. The agreement has an estimated total revenue value of $8.7 million for project work that should begin almost immediately and be completed over the next 12-24 months.

Both companies expect their new strategic partnership will continue beyond the term of this initial agreement for an additional two to three years, in a comprehensive effort by the customer to expand this energy efficiency program to all of its existing stores, as well as its new locations and its franchisees. Terms of any such future work have not been negotiated.

“Servidyne developed this program in conjunction with our customer over the past 18 months, through a series of pilot demonstration projects and initial installations,” noted Todd Jarvis, President and CEO of Servidyne’s Building Performance Efficiency (BPE) Segment. “We estimate that this initial investment by our customer will yield its shareholders a return on invested capital in excess of 40 percent.”

Servidyne’s work to be completed under the agreement consists of lighting efficiency upgrades and installation of new controls that will automate the scheduling and operation of the retailer’s heating and cooling equipment. The new controls system and related software will provide the customer with a robust information dashboard that will detail energy consumption and operating conditions on a near real-time basis. Servidyne will also help each of the customer’s 600 facilities take advantage of any special financial incentives that may be offered by their respective electric utility providers, and utilize the new controls systems being installed to enable the retailer to benefit from other potential value streams, including utility-sponsored demand response programs. Servidyne will also track the resulting reductions in greenhouse gas emissions and calculate other environmental benefits as part of this contract.

“Servidyne currently is involved in similar pilot demonstration projects for other major customers, including manufacturers and retailers,” added Alan R. Abrams, Servidyne’s Chairman, President and Chief Executive Officer. “We hope to be able to expand those efforts into other large scale implementation programs in the future as well.”

About Servidyne

Established in 1925, Servidyne, Inc. is headquartered in Atlanta, Georgia, and operates globally through its wholly–owned subsidiaries. The Company provides comprehensive energy efficiency and demand response solutions, sustainability programs, and other products and services that significantly enhance the operating and financial performance of existing buildings. Servidyne enables its customers to cut energy consumption and realize immediate cost savings across their portfolios, while reducing greenhouse gas emissions and improving the comfort and satisfaction of their buildings’ occupants. The Company serves a broad range of markets in the United States and internationally, including owners and operators of corporate, commercial office, hospitality, gaming, retail, light industrial, distribution, healthcare, government, multi-family and education facilities, as well as energy services companies and public and private utilities. Servidyne also owns commercial income-producing properties in the Southeast. For more information, please visit www.servidyne.com or call 770-953-0304.

Certain statements contained or incorporated by reference in this press release, including without limitation, statements containing the words “believe,” “anticipate,” “estimate,” “expect,” “plan,” “project,” “forecast,” “should,” and words of similar import, are forward-looking statements within the meaning of the federal securities laws. Forward-looking statements in this release include statements regarding the following matters: the Company’s expectations of starting its project work under the contract almost immediately and completing its work over the next twelve to twenty-four months; the expectation that the new strategic partnership between Servidyne and its customer will continue for an additional two to three years beyond the term of the initial contract, in a comprehensive effort by the customer to expand the energy efficiency program to all of its existing stores, as well as its new locations and its franchisees; the Company’s estimate that the customer’s investment will yield a return on investment in excess of 40%; and the Company’s hope of expanding other similar pilot demonstration programs for other major customers into large scale implementation programs in the near future. Forward-looking statements involve known and unknown risks, uncertainties and other matters which may cause the actual results, performance, or achievements of Servidyne, Inc. to be materially different from any future results, performance, or uncertainties expressed or implied by such forward-looking statements. Factors affecting forward-looking statements in this release include, without limitation, the factors identified under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended April 30, 2009, as updated from time to time in the Company’s Quarterly Reports on Form 10-Q. Servidyne, Inc. does not undertake to update these forward-looking statements.

Hyperdynamics (HDY) Reaches Agreement With Government of Guinea

SUGAR LAND, Texas, March 25 /PRNewswire-FirstCall/ — Hyperdynamics Corporation (NYSE Amex: HDY) today announced that it and the Government of the Republic of Guinea have executed an amendment to the 2006 Production Sharing Contract (PSC).  The document was signed by the Guinean Minister of Mines and Geology, Mahmoud Thiam; the Minister of Finances and Economy, Kerfala Yansane; and Ray Leonard, Hyperdynamics’ President and Chief Executive Officer. A decree giving the Government’s formal agreement to the assignment of a 23% interest to Dana Petroleum in the PSC is being prepared and will be issued in the near future.

The amendment was entered into in accordance with the September 2009 Memorandum of Understanding (MOU) between Hyperdynamics and the Republic of Guinea that reaffirmed the Company’s PSC but which also required a review of the commercial terms to ensure that they were in line with international standards.

In addition to addressing the points raised in the MOU and clarifying certain elements of the PSC, the amendment included the following terms:

• The company will retain a contract area of approximately 24,000 sq km, 30% of the original concession area and will relinquish 25% of the retained contract area by September 30, 2013.
• In September 2010, the company will enter into the second exploration period which runs until September 2013 and may be extended to September 2016.  The work program to September 2013 is to acquire a minimum of 2000 sq km 3D seismic and drill an exploration well, to be spudded by end 2011, to a minimum depth of 2500m while that for the period from September 2013 to September 2016 is to drill one exploration well to a minimum depth of 2500m.
• The Republic of Guinea will be carried through to first production for its share of up to 15%, at which time the cost of that carry will be recovered out of 62.5% of the Republic of Guinea’s share of cost and profit oil.
• An annual training budget of $200,000 will be established for the benefit of Guinea oil industry personnel, and the companies will also pay an annual surface tax of $2.00 per square kilometer on its retained acreage.

“This agreement formally reconfirms that the PSC among the Republic of Guinea, Hyperdynamics and Dana Petroleum is in full force and effect.  The extra step of presentation, debate and approval of the amended PSC by the Council of Ministers prior to signing is further evidence of the open and transparent government being established in the Guinean transition to democracy. We believe that the terms of the PSC are both fair and equitable and aligned with international standards,” Leonard said.

“Detailed analysis of the recently completed 10,000 km 2D seismic program has allowed us to further focus on the most prospective areas. We believe that successful exploration and production will be a substantial contributor to the Guinean economy, while also creating a good return for our shareholders. We expect to begin work on a 3D seismic survey in the third quarter 2010 to identify potential well locations for initial drilling late next year,” Leonard concluded.

About Hyperdynamics

Hyperdynamics is an emerging independent oil and gas exploration and production company that is exploring for oil and gas offshore the Republic of Guinea in West Africa.  To find out more, visit our website at www.hyperdynamics.com.

Forward Looking Statements

This news release and the Company’s website referenced in this news release contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding Hyperdynamics Corporation’s future plans and expected performance that are based on assumptions the Company believes to be reasonable. Statements preceded by, followed by or that otherwise include the words “believes”, “expects”, “anticipates”, “intends”, “projects”, “estimates”, “plans”, “may increase”, “may result”, “will result”, “may fluctuate” and similar expressions or future or conditional verbs such as “will”, “should”, “would”, “may” and “could” are generally forward-looking in nature and not historical facts. A number of risks and uncertainties could cause actual results to differ materially from these statements, including without limitation, funding and exploration efforts, fluctuations in oil and gas prices and other risk factors described from time to time in the Company’s reports filed with the SEC, including the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2009. The Company undertakes no obligation to publicly update these forward looking statements to reflect events or circumstances that occur after the issuance of this news release or to reflect any change in the Company’s expectations with respect to these forward looking statements.

NIVS (NIV) Announces Full Year and Fourth Quarter 2009 Results

HUIZHOU, China, March 25 /PRNewswire-Asia-FirstCall/ — NIVS IntelliMedia Technology Group, Inc. (“NIVS” or the “Company”) (NYSE: NIV), a consumer electronics company that designs, manufactures and sells intelligent audio and visual products, announced today that net sales for the three months ended December 31, 2009, were $62.7 million compared to $42.6 million in the comparable prior year period, an increase of 47.2%. The increase in sales during the fourth quarter of 2009 compared to the fourth quarter of 2008 was attributed primarily to an increased demand for the Company’s intelligent audio and video products as a result of the economic recovery that began in China, and market expansion efforts. Net sales for the full year ended December 31, 2009 were $185.2 million, an increase of $41.6 million, or 29.0% compared to $143.6 million for the year ended December 31, 2008. The increase in revenue was also attributed primarily to the increased demand for and sales of the Company’s intelligent audio and video products, which the Company believes was the result of its market expansion efforts.

Income from operations during the fourth quarter 2009 was $12.5 million, an increase of $8.6 million or 220.5% compared to $3.9 million in the comparable prior year period. The increase in income from operations was attributable in part to the reversal of $2.7 million of bad debt charges in the fourth quarter. For the year ended December 31, 2009, the Company reported income from operations of $28.5 million, an increase of $10.0 million, or 54.1% from $18.5 million in the comparable prior year period.

Mr. Tianfu Li, NIVS’ Chairman and CEO, said, “I am delighted at our strong 2009 fourth quarter and full year performance and completing our first year of trading on the NYSE Amex. We acquired our U.S. listing during a challenging economic environment and succeeded in expanding our business within the Chinese domestic market as well as in international markets. We believe our 2009 performance provides a solid foundation from which to grow in 2010. Our management team is focused on achieving outstanding operational performance and the continuance of increasing shareholder value.”

During the fourth quarter of 2009, the Company reported net income of $11.0 million, or $0.28 per diluted share compared to $1.9 million, or $0.04 per diluted share, in the comparable period of 2008, an increase of $9.1 million. For the year ended December 31, 2009, the Company reported net income of $23.5 million, or $0.59 per diluted share, an increase of $10.5 million, or 80.8% from $13 million, or $0.41 per diluted share, in 2008.

Liquidity and Capital Resources

The Company had unrestricted cash and cash equivalents of approximately $5.9 million at December 31, 2009, compared with $0.5 million at December 31, 2008. In addition, the Company had approximately $4.8 million in restricted cash at December 31, 2009, as compared to $11.7 million at December 31, 2008. The Company had working capital of approximately $3.3 million at December 31, 2009 and a working capital deficit of $18.6 million at December 31, 2008.

The Company had short-term bank loans of approximately $51.7 million and $54.7 million as of December 31, 2009 and 2008, respectively.

During 2009, the Company spent $9.6 million on capital expenditures compared to $16.8 million in 2008. Depreciation and amortization was $5.9 million in 2009 compared to $4.9 million in 2008.

Business Outlook

For the remainder of 2010, the Company intends to continue its strong marketing and new product launch momentum, and remain focused on executing the goal of becoming China’s preeminent integrated consumer electronics company. The Company intends to further enhance its balance sheet by focusing on cutting operating costs and streamlining operating efficiencies. In addition, the Company will continue to focus on R&D and add to its product portfolio, such as 3G mobile handsets, for example. As demonstrated by the tripling of revenue year-over-year of the intelligent audio and visual products in the fourth quarter of 2009, the Company believes that its integration of solid technology, design, manufacturing, distribution, product and marketing continues to be well-received by its customers and end users.

The Company intends to sustain its strong growth across all its operating segments and remains confident about the business and growth of the AV consumer electronics industry, and believes that its integrated strengths should allow it to expand market share within its core market and help to capture opportunities in new markets, enabling the Company to deliver sustained strong financial results and greater share value.

About NIVS IntelliMedia Technology Group, Inc.

NIVS IntelliMedia Technology Group is an integrated consumer electronics company that designs, manufactures, markets and sells intelligent audio and video products in China, Greater Asia, Europe, and North America. The NIVS brand has received “Most Popular Brand” distinction in China’s acoustic industry for three consecutive years, among numerous other awards. NIVS has developed leading Chinese speech interactive technology, which forms a foundation for the Company’s intelligent audio and visual systems, including digital audio, LCD televisions, digital video broadcasting (“DVB”) set-top boxes, peripherals and more.

Safe Harbor Statement

This release contains certain “forward-looking statements” relating to the business of the Company and its subsidiary companies. These forward looking statements are often identified by the use of forward looking terminology such as “believes, expects” or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including, but not limited to the Company’s ability to remediate the significant deficiencies and/or material weakness(es) in its internal controls; the Company’s ability to effectively integrate the operations and management of acquisition targets, including Dongri; the Company’s entry into the mobile phone manufacturing business; the Company’s ability to timely deliver products; the Company’s ability to timely develop and market new products; the Company’s ability to continue to borrow and raise additional capital to fund its operations; the Company’s ability to accurately forecast amounts of supplies needed to meet customer demand; exposure to market risk through sales in international markets; fluctuations in the availability of raw materials and components needed for the Company’s products; protection of the Company’s intellectual property rights; and changes in the laws of the PRC that affect the Company’s operations. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the discussed above and in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume an obligation to update these forward-looking statements.

Investor Conference Call

The Company’s 2009 year-end earnings conference call will take place on Thursday, March 25, 2010, at 11:00 a.m. Eastern Time and will also be webcast over the internet.

To participate, callers should dial 800- 867-0938, callers dialing from China or Hong Kong should dial U.S. 1 -480-293-0647. Participants should ask for the “NIVS IntelliMedia Conference Call.”

A simultaneous webcast will also be available via http://w.on24.com/r.htm?e=199373&s=1&k=7FAA2EC2A3CC7CCB87A1899E1BEEE123

In addition, a replay of the conference call will be archived and available until April 25, 2010 at the following numbers: Domestic callers – 800-406-7325 or 303-590-3030, access code: 4263795. Callers from China or Hong Kong: U.S. 1-800-406-7325, access code 4263795.

    For more information, please contact:

    Company Contact:
     Jason Wong
     Vice President Investor Relations
     Tel:   +86-138-299-16919
     Email: jason@nivsgroup.com

    Investor Contact:
     United States & Canada
     BPC Financial Marketing
     John Baldissera
     Tel:   +1-800-368-1217

         NIVS INTELLIMEDIA TECHNOLOGY GROUP, INC. AND SUBSIDIARIES
                          CONSOLIDATED BALANCE SHEETS
                                (In US Dollars)

                                               December 31,       December 31,
                                                   2009               2008
    Assets
    Current Assets
    Cash and cash equivalents                   $5,916,224          $461,504
    Trade receivables, net                      33,228,955        20,364,356
    Inventories, net                             9,626,048        11,279,832
    Prepaid expenses, deposit and other
     receivables                                 8,641,448            81,690
    VAT refundable                                 869,202         1,094,090
    Restricted cash                              4,840,137        11,681,595
    Total current assets                        63,122,014        44,963,067
    Property, equipment and construction
     in progress, net                           58,409,374        56,331,487
    Advances to suppliers                       16,649,904        15,286,028
    Intangible assets, net                       2,295,244         2,343,383
    Total Assets                              $140,476,536      $118,923,965

    Liabilities and Shareholders' Equity
    Current Liabilities
    Accounts payable - trade                    $3,932,115        $2,020,363
    Accrued liabilities and other
     payable                                     1,485,577         1,441,922
    Wages payable                                  801,972           800,744
    Corporate tax payable                        1,372,117         2,744,518
    Various taxes payable                          494,678           470,860
    Customer deposits                                   --         1,393,171
    Short-term loans                            43,987,358        35,871,715
    Bank notes payable                           7,712,609        18,849,201
    Total current liabilities                   59,786,426        63,592,494
    Due to shareholder                                  --         7,842,780
    Total Liabilities                           59,786,426        71,435,274

    Shareholders' Equity
    NIVS IntelliMedia Technology Group,
     Inc.'s shareholders' equity
    Preferred stock, $0.0001 par value,
     10,000,000 shares authorized, 0
     shares issued and outstanding at
     December 31, 2009 and December 31,
     2008, respectively                                 --                --
    Common stock, $0.0001 par value,
     100,000,000 shares authorized,
     40,675,347 and 36,855,714 shares
     issued and outstanding at December
     31, 2009 and December 31, 2008,
     respectively                                    4,068             3,686
    Additional paid-in capital                  21,717,239        12,663,513
    Accumulated other comprehensive
     income                                      3,979,941         3,960,012
    Statutory reserve fund                       5,722,107         3,568,869
    Retained earnings (unrestricted)            47,497,211        26,193,371
    Total NIVS IntelliMedia Technology
    Group, Inc. Shareholders' Equity            78,920,566        46,389,451
    Noncontrolling interest                      1,769,544         1,099,240
    Total Shareholders' Equity                  80,690,110        47,488,691
    Total Liabilities & Shareholders'
     Equity                                   $140,476,536      $118,923,965

    The accompanying notes are an integral part of these consolidated
    financial statements.

             NIVS INTELLIMEDIA TECHNOLOGY GROUP, INC. AND SUBSIDIARIES
                       CONSOLIDATED STATEMENTS OF INCOME
                                (In US Dollars)

                                            For the Year Ended
                            December 31,        December 31,      December 31,
                                   2009                2008             2007
    Revenues               $185,197,972        $143,630,679      $77,626,516
    Other Revenues              282,289             414,968          516,415
    Cost of Goods Sold     (142,416,067)       (109,762,476)     (58,864,342)
    Gross Profit             43,064,194          34,283,171       19,278,589

    Selling Expenses          6,761,597           5,376,083        3,269,414

    General and
     administrative
    Amortization                 78,665              68,788           62,175
    Depreciation                331,153             337,445          327,575
    Bad debts (recovery)     (2,745,003)          2,531,479          473,218
    Merger cost                      --           1,785,696               --
    Stock-based
     compensation                    --             765,000               --
    Other general and
     administrative           4,850,370           3,171,458        2,548,047
    Total general and
     administrative           2,515,185           8,659,866        3,411,015
    Research and
     development              5,314,781           1,737,323          373,472
    Total operating
     expenses                14,591,563          15,773,272        7,053,901
    Income from
     operations              28,472,631          18,509,899       12,224,688

    Other income
     (expenses)
    Government grant            575,870              31,713           28,138
    Write-down of
     inventory                       --            (131,837)        (105,106)
    Interest income                   6                  91          234,655)
    Interest expense         (1,566,976)         (2,208,051)      (1,791,490)
    Imputed interest                 --            (656,167)        (526,428)
    Sundry income
     (expense), net              11,407             (51,714)        (111,405)
    Total other
     income (expenses)         (979,693)         (3,015,965)      (2,271,636)

    Income before
     non-controlling
     interest and
     income taxes            27,492,938          15,493,934        9,953,052
    Income taxes             (3,406,230)         (2,031,031)      (1,268,963)
    Net income               24,086,708          13,462,903        8,684,089

    Net income
     attributable to
     the non-
     controlling
     interest                  (629,630)           (429,490)        (217,569)

    Net income
     attributable NIVS
     IntelliMedia
     Technology Group,
     Inc.                   $23,457,078         $13,033,413       $8,466,520

    Basic earnings
     per share - net
     income
     attributable to
     NIVS's common
     shareholders                 $0.59               $0.41            $0.31

    Weighted-average
     shares
     outstanding,
     Basic                   39,858,756          31,553,197       27,546,667

    Diluted earnings
     per share - net
     income
     attributable to
     NIVS's common
     shareholders                 $0.59               $0.41            $0.31

    Weighted-average
     shares
     outstanding,
     Diluted                 39,858,756          31,967,040       27,546,667

    The accompanying notes are an integral part of these consolidated
    financial statements.

            NIVS INTELLIMEDIA TECHNOLOGY GROUP, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (In US Dollars)

                                          For the Year Ended
                                              December 31,
                               2009               2008               2007
    Cash Flows From
     Operating
     Activities

    Net income             $24,086,708        $13,462,903         $8,684,089
    Adjustments to
     reconcile net
     income to net
     cash provided by
     operating
     activities:

    Imputed interest                --            656,167            526,428
    Bad debt expense
    (recovery)              (2,745,003)         2,531,479            473,218
    Depreciation
     expense                 5,850,550          4,887,386          1,169,319
    Amortization
     expense                    78,665             68,788             62,175
    Stock-based
     compensation                   --            765,000                 --
    Write-down of
     inventory                      --            131,837            105,106
    Changes in
     operating assets
     and liabilities:
    Trade receivables      (10,117,126)       (18,385,002)        (4,838,184)
    Advances to
     suppliers                 350,934          1,318,827        (13,640,207)
    Prepaid expenses
     and deposits                   --            (63,105)            38,265
    Inventories, net         1,655,152          6,067,538        (15,908,385)
    VAT refundable             225,021         (1,094,090)                --
    Accounts payable,
     accrued
     liabilities and
     customer deposits         561,647        (12,650,271)        12,402,518
    Various taxes
     payable                    23,761            283,149           (315,905)
    Wages payable                1,131            192,522            436,329
    Corporate tax
     payable                (1,372,734)         1,018,753          1,092,944
    Net cash
     provided by
     (used in)
     operating
     activities             18,598,706           (808,119)        (9,712,290)

    Cash Flows From
     Investing
     Activities
    Restricted cash          6,842,875         (9,698,348)          (276,104)
    Deposits for
     Dongri
     Acquisition            (8,559,748)                --                 --
    Purchases of
     property, plant
     and equipment          (5,232,911)       (15,326,949)       (15,297,640)
    Payments made for
     construction in
     progress               (4,405,199)        (1,480,627)                --
    Purchases of
     intangible assets         (31,605)           (28,830)                --
    Due from related
     parties                        --          2,213,370          4,801,648
    Short-term
     investment,
     marketable
     securities                     --                 --               (650)
    Net cash used in
     investing
     activities            (11,386,588)       (24,321,384)       (10,772,746)

    Cash Flows From
     Financing
     Activities
    Net borrowing
     from bank loans
     payable                 8,111,292          3,230,239         15,985,886
    Net borrowing
     (repayment) in
     bank notes
     payable               (11,138,878)        12,744,638           (145,438)
    Capital lease
     payable                        --                 --            (61,669)
    Net proceeds of
     share issuances         1,212,382         10,487,474                 --
    Due to
     shareholder                    --         (3,165,990)         4,916,614
    Net cash
     provided by
     (used in)
     financing
     activities             (1,815,204)        23,296,361         20,695,393
    Effect of
     exchange rate
     changes on cash            57,806            855,995            668,904
    Net increase in
     cash and cash
     equivalents             5,454,720           (977,147)           879,261

    Cash and cash
     equivalents,
     beginning of
     period                    461,504          1,438,651            559,390
    Cash and cash
     equivalents, end
     of period              $5,916,224           $461,504         $1,438,651

    Supplemental
     disclosure
     information:
    Interest expense
     paid                   $1,706,762         $2,208,051         $1,791,490
    Income taxes paid       $4,773,839         $2,031,031         $1,268,963

    Non cash
     investing and
     financing
     activities:
    Exchange of
     investment for
     equipment                     $--                $--        $12,824,623
    Conversion of Li
     debt to common
     stock                  $7,841,726                $--                $--

ADA-ES (ADES) Reports Fourth Quarter and Year End 2009 Results

Mar. 25, 2010 (Business Wire) — ADA-ES, Inc. (NASDAQ:ADES) today announced financial results for the fourth quarter and year ended December 31, 2009, and provided an update on various corporate developments.

Overview of Fourth Quarter Results & Initial Revenues from Refined Coal Business

In the fourth quarter, total revenues nearly doubled to $6.6 million, due in large part to the Company recognizing its first revenues associated with its Refined Coal business, as well as a 23% increase in sales of Activated Carbon Injection (“ACI”) systems in its Mercury Emission Control (“MEC”) segment.

In December 2009, ADA’s 50/50 joint venture with NexGen – Clean Coal Solutions, LLC (“CCS”) – installed and commenced operations of two CyClean systems that are designed to produce a total of 6.5 million tons of Refined Coal per year, meeting the year-end placed-in-service requirements for the Section 45 Tax Credits. The CyClean systems generated revenues of $2.4 million for ADA-ES in the fourth quarter from the sale of approximately 76,800 tons of Refined Coal. Section 45 IRS Tax Credits amount to $6.20 per ton for a period of ten years.

Dr. Michael D. Durham, President and CEO of ADA-ES, stated, “Currently, CCS is preparing the CyClean systems for efficient full-time operation, finalizing contracts with the host utility, and negotiating long-term agreements with monetizers. We expect to begin producing Refined Coal on a continuous basis towards the end of the second quarter, and anticipate the equipment sales and tax credits from these two systems to contribute average after tax net cash flow for Clean Coal of an estimated $9 million per year for up to ten years.” Of note, NexGen must pay ADA 60% of its share of cash flow up to $4 million, to retain its 50% ownership in the JV.

During the fourth quarter, minimal margins were realized on sales of Refined Coal during testing, which were essentially sold at cost. As a result, gross margin was 16% for the quarter, compared to 26% in the prior year period. General and administrative expenses declined to $3.3 million from $4.6 million in the fourth quarter of 2008, primarily due to lower fees associated with litigation and contract negotiations. The Company reported an operating loss of $2.5 million, compared to an operating loss of $5.6 million in the fourth quarter of 2008, and a net loss of $1.3 million, or $0.18 per diluted share, compared to a net loss of $3.6 million, or $0.54 per diluted share, in the 2008 fourth quarter.

Overview of Full Year 2009 Results

For 2009, total revenues rose 24% to $20.1 million. Gross margin was 31%, compared to 33% in 2008. The Company achieved improved margins associated with ACI system sales due to ADA’s newly designed equipment that simplifies field installation and reduces system costs, and also realized improved efficiencies in DOE and other consulting work. These improvements were offset by the aforementioned minimal margins from Refined Coal sales made during testing. ADA incurred higher legal costs during the year associated with previously disclosed litigation, and reported an operating loss of $11.8 million in 2009, compared to $6.7 million in 2008, and a net loss of $8.8 million or $1.26 per share, versus a net loss of $4.1 million or $0.67 per share in 2008.

ACI Systems Update

Dr. Durham further stated, “We remain focused on expanding our MEC segment through the sale of our ACI systems, and have installed or are in the process of installing 46 systems, including the 10 contracts secured during 2009. Past contract wins have been primarily in 19 states and Canadian provinces. In 2009, we saw several positive steps taken by regulatory officials to implement industry changes in pollutant control that we believe will be drivers of additional sales over the next several years of both ACI systems and the associated activated carbon (“AC”).

ADA Carbon Solutions Business Update

ADA Carbon Solutions (“ADA-CS”), the Company’s joint venture with Energy Capital Partners I, LP and its affiliated funds (“ECP”), has nearly completed construction of its new AC production facility in Red River Parish, Louisiana. Construction has remained on budget, and the plant is scheduled to begin commercial operation this May. To date, ADA-CS has signed AC supply contracts valued at more than $200 million, including two contracts in Canada. Over one-third of the nameplate capacity for the manufacturing plant has been booked for the first five years of production.

Funding of construction, which approximates $250 million to date, continues with interim financing by ECP. In December, ADA-CS’ wholly owned-subsidiary, Red River Environmental Products, was offered a $245 million conditional commitment for a loan guarantee by the U.S. Department of Energy (“DOE”) under Title XVII of the Energy Policy Act of 2005, to be used to finance the construction of the facility. Closing of the loan guarantee is subject to DOE’s completion of due diligence and other customary closing conditions. ADA-ES expects to have a minority interest in the first production line, with rights to own up to 50% of additional lines, which it believes will be necessary to meet demand if a Federal mercury control regulation is enacted.

The Company noted that it has terminated the Securities Purchase Agreement (“SPA”) with ECP whereby ECP had the right to purchase 3.6 million convertible preferred shares of ADA-ES at an average price of $6.30 per share as a mechanism to provide additional equity funding for the AC plant through ADA. In light of ECP’s direct funding of the joint venture and positive recent developments that are capable of producing significant near-term increases in revenues and earnings for ADA, ADA’s Board determined that the $6.30 share price was not a fair reflection of the current value of the Company. Having terminated the SPA, the Company intends to implement plans to raise equity at a higher price to fund growth opportunities such as AC production, CyClean, and expanded ACI capacity.

Conclusion

Dr. Durham further stated, “We are extremely proud of our 2009 key accomplishments, which include: 1) meeting the year-end placed-in-service requirements for the Section 45 Tax Credits for Refined Coal; 2) making significant progress on the construction of ADA-CS’ AC plant; 3) shipping the first batches of treated AC from ADA-CS’ interim facility; 4) securing eight AC contracts representing one-third of the ADA-CS plant’s capacity; and 5) receiving a contingent commitment for a DOE loan to finance the construction of the AC plant.

“One of our primary areas of focus for the remainder of 2010 will be our Refined Coal business. Getting the first two systems operating on a continuous basis will provide a significant increase in revenues and operating income for the company. In addition, there is a possibility of growing this business well beyond these initial systems. The Senate recently passed a second Jobs Bill that includes a number of tax extenders, including a one-year extension for Section 45 Refined Coal. This extension, if put into law, would provide us the opportunity to expand this business further through additional potential customers that we have identified as viable candidates for this technology. With two systems already installed that qualify for the credits, and the possibility of an extension on future systems, we see a substantial opportunity for ADA in this area.”

In closing, Dr. Durham commented, “We are very pleased with the advances we have made in our clean coal technology businesses and are enthusiastic about ADA’s long-term prospects as a market leader in pollutant control. We look forward to the launch of ADA-CS’ AC manufacturing facility in May, and the expected growth within our Refined Coal business.”

Conference Call

Management will conduct a conference call focusing on the financial results and recent developments at 10:00 AM ET on Thursday, March 25, 2010. Interested parties may participate in the call by dialing 706-679-3200. Please call in 10 minutes before the call is scheduled to begin, and ask for the ADES call (conference ID # 55894960). The conference call will also be webcast live via the Investor Information section of ADA’s website at www.adaes.com. Additionally, a slide presentation which will accompany the call will be posted at www.adaes.com on the Investor Information section and will remain available after the call. To listen to the live call please go the website at least 15 minutes early to register, download and install any necessary audio software. If you are unable to listen live, the conference call will be archived on the website.

About ADA-ES

ADA-ES is a leader in clean coal technology and the associated specialty chemicals. The Company develops and implements proprietary environmental technology and specialty chemicals that enable coal-fueled power plants to enhance existing air pollution control equipment, maximize capacity and improve operating efficiencies. Through its largest segment, Mercury Emission Control, ADA-ES supplies activated carbon injection systems, mercury measurement instrumentation, and related services. To meet the needs of the power industry for mercury control, a joint venture of ADA-ES, ADA-CS, is developing state-of-the-art facilities to produce AC with the first plant projected to come on-line in 2010. In addition, ADA-ES, through its Clean Coal Solutions joint venture, provides its patented refined coal technology, CyClean, to utilities to enhance combustion of and reduce emissions from Powder River Basin coals in cyclone boilers. ADA-ES is also developing technologies for power plants to address issues related to the emissions of carbon dioxide. For more information, visit: www.adaes.com.

This press release and the conference call referenced in this press release contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, which provides a “safe harbor” for such statements in certain circumstances. These statements are or will be based on current expectations, estimates, forecasts, projections, beliefs and assumptions of our management. Actual results may vary materially from such expectations. These statements are or will be prefaced by words or phrases such as “believe,” “will,” “hope,” “expect,” “anticipate,” “intend” and “plan,” the negative expressions of such words, or words of similar meaning, and these statements include, but are not limited to, our expectations regarding the expected full-time operation date for the CyClean systems owned by Clean Coal Solutions including the expected date for production of refined coal on a continuous basis; amount of operating income potential generated by the CyClean systems owned by Clean Coal Solutions; our ability to expand our MEC segment through the sale of our ACI systems; the effect on our business of regulatory actions relating to pollutant control; the ability of ADA-CS to complete construction of its new AC production facility on time and on budget; the ability of ADA-CS to secure AC supply contracts and finalize the DOE loan; our ability to maintain a minority interest in the first, and a larger interest in additional, production lines owned by ADA-CS; our ability to raise equity at a higher price than that reflected by the ECP securities purchase agreement or at all; whether Section 45 tax credits for refined coal will be extended by Congress; whether we will be able to obtain additional customers; as well as other similar items. Such statements involve significant risks and uncertainties. Actual events or results could differ materially from those discussed in the forward-looking statements as a result of various factors including, but not limited to: changes in laws and regulations, government funding, prices, economic conditions and market demand; impact of competition and litigation; lack of working capital; availability, cost of and demand for alternative energy sources and other technologies; operational difficulties; risks related to ADA-CS such as changes in the costs and timing of construction of the AC plant, failure to raise additional financing or satisfy conditions in existing agreements, actions of our joint venture partner and inability to sign or close acceptable coal supply and off-take agreements in a timely manner; failure of Clean Coal to qualify its product for Section 45 tax credits or to place qualified facilities by the IRS deadlines; availability of raw materials and equipment for our businesses; loss of key personnel; as well as other factors relating to our business, as discussed in our filings with the U.S. Securities and Exchange Commission, with particular emphasis on the section entitled “Risk Factors” in our annual report on Form 10-K and disclosures contained in those filings. You are cautioned not to place undue reliance on the forward-looking statements made in this release, and to consult filings we make with the SEC for additional discussion concerning risks and uncertainties that may apply to our business and the ownership of our securities. The forward-looking statements contained in this press release are presented as of the date hereof, and we disclaim any duty to update such statements unless required by law to do so.

ADA Carbon Solutions, which was included as a subsidiary as of December 31, 2008, was deconsolidated during the year ended December 31, 2009. See notes accompanying ADA-ES’ consolidated financial statements in its Form 10-K for the fiscal year ended December 31, 2009.

Tri-Tech Holding (TRIT) Full Year 2009 Revenue Up 99% to $16.8M

BEIJING, March 25 /PRNewswire-Asia-FirstCall/ — Tri-Tech Holding Inc. (Nasdaq: TRIT), a leading Chinese project development and management company that engineers, manages and monitors China’s municipal sewer systems, natural waterways and resources, announced today that revenue for the fiscal year ended December 31, 2009 increased 99% to $16.8 million from $8.4 million in 2008. Diluted earnings per share for the year were $0.92 based on net income of $3.8 million. This compares with net income of $1.7 million or $0.48 diluted EPS in 2008.

    Fourth Quarter 2009 Highlights
    -- Revenue for Q4 2009 increased 103% to $5.9 million from $2.9 million in
       Q4 2008.
    -- Gross profit (exclusive of depreciation and amortization) increased
       190% to $2.3 million for Q4 2009 from $0.8 million in Q4 2008.
    -- Q4 2009 gross margin 38% vs. 27% for Q4 2008.
    -- Income from operations increased 117% to $1.1 million from $0.5 million
       in Q3 2008.
    -- Net income increased 212% to $1.3 million from $0.4 million in Q4 2008.
    -- Diluted earnings per share increased to $0.24, from $0.12 in Q4 2008.
    -- Weighted average number of diluted shares outstanding was 5.54 million
       as of December 31, 2009, compared to 3.56 million as of December 31,
       2008.

    FY 2009 Highlights
    -- Revenue for 2009 increased 99% to $16.8 million from $8.4 million in
       2008.
    -- Wastewater and Tail Gas Treatment segment revenue increased 80% to
       $9.0 million.
    -- Water Resource Management segment revenue was up 125% to $7.8 million.
    -- Gross profit (exclusive of depreciation and amortization) increased
       112% to $6.6 million for 2009 from $3.1 million in 2008.
    -- 2009 gross margin 39% vs. 37% for 2008.
    -- Income from operations increased 126% to $4.1 million from $1.8 million
       in 2008.
    -- Net income increased 127% to $3.8 million from $1.7 million in 2008.
    -- Diluted earnings per share increased to $0.92 from $0.48 in 2008.
    -- Weighted average number of diluted shares outstanding was 4.17 million
       as of December 31, 2009, compared to 3.56 million as of December 31,
       2008.
    -- Completed successful initial public offering of 1.7 million ordinary
       shares at a price of $6.75 per share, traded on NASDAQ Capital Market
       on September 10, 2009.

FY 2009 Financial Performance

Total revenue was $16.8 million in 2009, an increase of $8.3 million, or 99%, compared to revenue of $8.4 million in 2008. The increase was driven by larger contracts, several of which exceeded $1.5 million. The revenue was primarily generated by system integration work and hardware and software sales from two operating segments. For wastewater and tail gas treatment, revenue was $9 million, an increase of $4 million or 80%, compared to $5 million in year 2008. Revenue from water resources management saw a 125% significant increase to $7.8 million from $3.5 million in 2008.

Net income

Net income attributable to shareholders was $3.8 million, an increase of $2.2 million or 127%, compared to $1.7 million in year 2008.

Diluted earnings per share for the year were $0.92 based on net income of $3.8 million. This compares with net income of $1.7 million or $0.48 diluted EPS in 2008.

Gross profit (exclusive of depreciation and amortization)

Gross profit (exclusive of depreciation and amortization) increased 112% to $6.6 million for 2009 from $3.1 million in 2008. Of total revenue, cost (exclusive of depreciation and amortization) decreased to 61%, compared with 63% in 2008, because the company sourced more locally made equipment at lower cost for the projects. Gross margin (exclusive of depreciation and amortization) for 2009 was 39%, compared to 37% for 2008.

During 2009, significant Chinese government spending along with tight construction timelines, and strong market demand resulted in high market value for construction projects. Under such business climate, Tri-Tech enjoyed rapid growth in revenue while limited cost of that revenue.

Operating income

Operating income increased 126% to $4.1 million from $1.8 million in 2008. Operating margin was 24%, compared to 21% in the year ended December 31 2008.

Liquidity and Capital Resources

As of December 31, 2009, cash and cash equivalents were $7.2 million, including a deposit of $3.3 million. As of December 31, 2009, working capital was $17 million, including cash and cash equivalents of $7.2 million.

Order Backlog

As of December 31, 2009, the company had a total backlog of $11.5 million to be collected in 2010, including $9.3 million in municipal water and wastewater services, $1.5 million in water resources services and $0.7 million in industrial sector services. The backlog represents the amount of our existing contract work remaining to be completed in 2010 for which we have not been paid in full, based on the assumptions that our customers will approve these projects upon completion.

Management Comment

Chief Executive Officer Warren Zhao said, “We are pleased with the financial results in our first year as a publicly-traded company. The strong growth in our two business segments has highlighted the strength of our business model, which we believe will continue to get stronger as we work to help alleviate China’s critical water resource crisis.

“We are currently pursuing smaller river basin flood monitoring and forecasting systems and groundwater monitoring systems across the country. In 2009, we received awards for five projects for smaller river basin flood and forecasting systems.

“Through local distributors and partnerships, we are promoting our proprietary products targeting the water monitoring and dispatching systems of the Northward Rerouting of Southern River engineering construction. We believe that the entire Northward Rerouting of Southern River engineering project has a market potential of approximately $43.5 million.

“In 2009, the Chinese government launched the 103 Pilot-County Mountain Torrent Forecast Plan. Accordingly, the government allocated approximately $29 million to fund these projects to deal with frequent mountain torrents devastation. During the year, we won the bids for 14 of these pilot projects, which was in line with our internal expectations on the bid win rate.

“At present, our wastewater treatment business is focused on Tianjin City and Hebei Province. In 2009, we won 26 contracts from this targeted wastewater treatment market, including pump stations, treatment plants, odor control systems, automatic controls and instruments.

“We are actively pursuing opportunities in the industrial wastewater and process tail gas treatment markets in the oil and gas industry and the petrochemical industry such as SINOPEC and PetroChina. Additionally, we intend to strengthen our industrial pollution control services by penetrating adjacent industry verticals such as the power generation industry.

“Currently almost all newly-designed sewage treatment plants have odorous gas containment and control requirements. Therefore, we expect an increase in the sales of our proprietary bio-filtration odor control systems.

“In order to pursue several major new projects and increase our interaction with our clients, we recently set up branch offices in Tianjin Dongli Economic Development Zone, Tianjin Baodi Economic Development Zone and Hebei Province.

“In our municipal wastewater business, we plan to expand our target market. In our current business footprint in only Hebei and Tianjin, the government is building 80 new wastewater treatment plants. We believe significant opportunities exist in 32 other provinces, municipalities and autonomous regions in China.

“We intend to expand our role from sub-contractor to prime-contractor. Since inception, we have grown from a provider of system controls to a company capable of managing the whole installation of municipal water and wastewater facilities. As we continue to grow, we will focus our business on more complex installation projects.

“We also intend to further develop our water resource management services from partial management solutions to full management of large-scale river basin projects. We believe the Chinese government’s allocation of significant investment offers us huge business opportunities.

“In addition to organic growth, we are targeting selected acquisitions. In general, our markets are highly fragmented with small competitors. We will consider acquiring companies that we believe will add significant value to our business. These targets may have strong customer relationships but limited market reach, or may possess specialized skills but the businesses have not scaled up. When evaluating targets, we use a disciplined, conservative approach to ensure the acquisitions are strategic and accretive,” Zhao said.

About Tri-Tech Holding Inc.

Tri-Tech designs customized sewage treatment and odor control systems for China’s municipalities and its larger cities. These systems combine software, information management systems, resource planning and local and distant networking hardware that includes sensors, control systems, programmable logic controllers, supervisory control and data acquisition systems. The company also designs systems that track natural waterway levels for drought control, monitor groundwater quality and assist the government in managing its water resources. Tri-Tech owns seven software copyrights and two technological patents and employs 120 people. Please visit http://www.Tri-Tech.cn for more information.

An online investor kit including a company profile, press releases, current price quotes, stock charts and other valuable information for investors is available at http://www.hawkassociates.com/profile/trit.cfm . To subscribe to future releases via e-mail alert, visit http://www.hawkassociates.com/about/alert/ .

Tri-Tech Holding Inc. has based these forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward- looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

    For further information, please contact:

    Hawk Associates
     Susan Zhou
     Tel:   +1-305-451-1888
     Email: tritech@hawkassociates.com

                           TRI-TECH HOLDING INC.
    CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME
                                  AUDITED

                                    For the Year Ended      Quarter Ended
                                      December 31,           December 31,
                                     2009       2008       2009       2008
                                             (Restated)
    Revenues:
    System integration           $12,023,686 $6,119,266 $4,499,924 $1,410,327
    Products                       2,511,962  1,115,811    633,914  1,051,322
    Software revenue               2,264,246  1,214,881    760,887    436,943
    Total revenues                16,799,895  8,449,958  5,894,726  2,898,592
    Cost of revenues: (exclusive
     of depreciation and
     amortization shown
     separately below)
    System integration             8,003,667  4,219,892  3,095,900  1,058,291
    Products                       2,115,052  1,036,401    528,438  1,000,909
    Cost of software                  57,207     65,947     15,143     62,012
    Total cost of
     revenues(exclusive of
     depreciation and
     amortization shown
     separately below)            10,175,925  5,322,240  3,639,482  2,121,212
    Operating expenses:
    Depreciation and amortization
     expenses                        119,173     88,731     43,724     29,009
    Other operating expenses       2,448,721  1,242,415  1,078,606    227,350
    Total operating expenses       2,567,894  1,331,146  1,122,330    256,359
    Operating income (loss):       4,056,076  1,796,572  1,132,914    521,021
    Other income (expenses):
     Interest income                  26,855     17,475      1,729        931
     Interest expense                 (5,683)    (7,833)    (1,510)    (5,444)
     Government allowance            107,380    102,644     58,338     37,401
     Other expense                    (7,592)    (1,774)    (2,899)      (483)
    Total other income
     (expenses), net                 120,961    110,512     55,660     32,404
    Income before provision for
     income taxes and
     noncontrolling interests
     income                        4,177,037  1,907,084  1,188,574    553,425
    Provision for income taxes      (308,085)  (202,247)  (758,550)  (141,771)
    Net income                     3,868,952  1,704,837  1,330,955    411,654
    Noncontrolling Interests
     Income                           18,182      8,685      5,730    (13,525)
    Net income attributable to
     Tri-Tech Holding Inc          3,850,770  1,696,152  1,325,225    425,179
    Other comprehensive income
    Foreign currency translation
     adjustment                       15,899    259,708    (51,216)   (46,834)
    Comprehensive income           3,884,851  1,964,545  1,279,739    378,345
    Comprehensive income
     attributable to
     noncontrolling interests         18,312     17,211      5,155     17,211
    Comprehensive income
     attributable to Tri-Tech
     Holding Inc.                  3,866,538  1,947,334  1,274,584    361,134
    Net income attributable to
     Tri-Tech Holding Inc. per
     share:
    Basic                              $0.94      $0.48      $0.25      $0.12
    Diluted                            $0.92      $0.48      $0.24      $0.12
    Shares used in computation:
    Basic                          4,081,301  3,555,000  5,255,000  3,555,000
    Diluted                        4,170,879  3,555,000  5,544,343  3,555,000

                                  TRI-TECH HOLDING INC.
                              CONSOLIDATED BALANCE SHEETS

                                                December 31,      December 31,
                                                    2009              2008
                                                                    (Restated)
    ASSETS
    Current Assets
    Cash                                         $7,171,464          $732,418
    Restricted cash                               1,501,128                --
    Accounts receivable, net of allowance
     for doubtful accounts of $56,491 and
     $62,286 as of December 31, 2009 and
     December 31, 2008, respectively              4,338,239         3,105,859
    Unbilled revenue                              3,952,763         1,429,846
    Notes receivable                                     --             7,316
    Other receivables                               273,602           166,395
    Inventories                                   1,573,324         1,466,468
    Deposits on projects                            585,153           266,973
    Prepayments to suppliers and
     subcontractors                               1,898,900           567,346
    Total current assets                         21,294,573         7,742,621
    Long-term unbilled revenue                    1,723,852                --
    Plant and equipment, net                        374,009           174,128
    Proprietary technology, net                     797,854           857,475
     Total assets                               $24,190,288        $8,774,224
    LIABILITIES AND SHAREHOLDERS' EQUITY
    Current liabilities
    Accounts payable and cost accrual on
     projects                                    $3,367,056        $1,589,103
    Commercial paper and other short-term
     notes payable
     Non-related parties                                 --           271,041
     Related party                                       --            14,631
    Customer deposits                               494,047           436,372
    Billings in excess of revenue                     8,650            30,639
    Other payables                                    8,633            81,721
    Accrued liabilities                             103,190            84,660
    Deferred income taxes                           141,478            83,643
    Income taxes payable                            144,232           141,818
    Other taxes payable                                  --            90,908
    Total current liabilities                     4,267,286         2,824,536
    Long-term liabilities                            58,171                --
     Total liabilities                            4,325,457         2,824,536
    Shareholders' equity
    Tri-Tech Holding Inc. shareholders'
     equity
     Common stock (30,000,000 shares
      authorized and $0.001 par value,
      5,255,000 and 3,555,000 issued as of
      December 31, 2009 and 2008,
      respectively; on December 31, 2009,
      340,000 shares issued were held in
      escrow. See note 12 for more
      discussion.)                                    5,255             3,555
    Additional paid-in-capital                   12,942,650         2,914,058
    Statutory reserves                               50,655            50,655
    Retained earnings                             6,333,343         2,482,573
    Accumulated other comprehensive
     income                                         377,097           361,328
    Total Tri-Tech Holding Inc.
     shareholders' equity                        19,709,000         5,812,169
    Noncontrolling Interests                        155,831           137,519
    Total shareholders' equity                   19,864,831         5,949,688
    Total liabilities and shareholders'
     equity                                     $24,190,288        $8,774,224

                                    TRI-TECH HOLDING INC.
                          CONSOLIDATED STATEMENTS OF CASH FLOWS

                                              For The Year Ended December 31,
                                                   2009        2008(Restated)
    Cash flows from operating activities:
    Net income                                  $3,868,952        $1,704,838
    Adjustments to reconcile net income
     to cash:
    Depreciation                                    59,244            30,892
    Amortization                                    60,588            57,839
    Allowance for doubtful accounts                  1,322            22,935
    Deferred income taxes                           66,061            74,429
    Changes in operating assets and
     liabilities:
    Restricted cash                             (1,500,534)               --
    Accounts receivable                         (1,230,305)       (1,528,876)
    Unbilled revenue                            (4,243,749)         (360,048)
    Other receivables                             (424,813)         (104,235)
    Inventories                                   (161,817)         (330,918)
    Prepayments and deferred expenses           (1,315,244)         (163,280)
    Accounts payable                             1,761,867           145,002
    Customer deposits                               57,244            (5,286)
    Billings in excess of revenue                  (22,009)               --
    Other payables                                 218,941           112,280
    Accrued liabilities                             18,443                --
    Taxes payable                                 (140,036)          (48,606)
    Net cash provided by operating
     activities                                 (2,925,845)         (393,034)
    Cash flows from investing activities:
    Additions to equipment                        (197,087)          (91,351)
    Cash flows from financing activities:
    Common stock                                10,105,170                --
    (Repayments to)advances from third
     parties                                      (278,507)          678,485
    Repayment from a related party of an
     advance                                            --            (4,750)
    Net cash provided by (used in)
     financing activities                        9,826,663           673,735
    Effect of exchange rate changes on
     cash and cash equivalents                    (264,685)          175,355
    Net increase in cash                         6,439,046           364,705
    Cash, beginning of year                        732,418           367,713
    Cash, end of period                         $7,171,464          $732,418
    Supplemental Data:
    Income taxes paid                             $239,743               $--
    Interest paid on debt                           $4,538            $7,832
    Borrow money from third party, using
     in purchase transportation equipment
     on April 2009.                                $87,221               $--

GigOptix (GGOX) Moves 40Gb/s and 100Gb/s Polymer Modulators to Production

Mar. 24, 2010 (Business Wire) — GigOptix, Inc. (OTCBB:GGOX), disclosed this week the company’s progressive plans to commercialize its proprietary polymer based modulator for all 40Gb/s and 100Gb/s modulation formats during 2010. The company has partnered with Sanmina-SCI (Nasdaq NM: SANM) to contract manufacture the modulators.

Over the last year, since the acquisition of Lumera by GigOptix, the company’s Bothell, Washington based LX Product Line group has made unparalleled developments in polymer material thermal–related electro-optical and mechanical stability; enabling the first-ever achievement of the required 85C, 25 years electro-optical stability of the polymer-coated silicon modulator chip. The design rules that were deployed allow the smallest overall modulator foot print for all speeds and formats.

The GigOptix LX modulators use standard semiconductor production flows and industry standard modulator package assembly technology, allowing for a smooth transfer of the product to a mass production partner like Sanmina-SCI.

The company announced that the first Telcordia qualified volume production of 40Gb/s and 100Gb/s DPSK modulators, will be available in the fourth quarter of 2010. Engineering samples of 40Gb/s DQPSK and 100Gb/s DP-QPSK modulators will be also be available in the fourth quarter of 2010, with Telcordia qualified volume production available in the first quarter of 2011.

Dr. Raluca Dinu, Vice President and General Manager of GigOptix LX Modulator business will present the company’s modulator program and roadmap, tomorrow, March 25, 2010, at OFC/NFOC in San Diego, California, with special emphasize on the following aspects:

• GigOptix’s electro-optic polymer is now meeting the telecom industry reliability standards of stable operation for 25 years at the temperature of 85C. The polymer itself upholds structural integrity up to 240C.
• The technology is inherently low cost and physically robust. Being built as a layer of only a few microns on top of standard silicon wafer it can leverage standard high volume silicon manufacturing techniques. The advantages of GigOptix’s optical polymer material makes the company’s modulators dramatically smaller and faster than the current industry Lithium Niobate and much faster and more robust than InP based solutions.
• The manufacturing agreement with Sanmina-SCI, announced this week, will bring a world class packaging capability to ensure that the company’s modulators will be competitively priced.
• Unlike Lithium Niobate and InP, the material properties of the polymer enable the production of 10G, 40G and 100G modulator chips at the same small footprint, hence the overall modulator package to be a similar size for all speeds and formats.

Pushing the speed barrier beyond what is possible with other technologies, GigOptix is collaborating with partners on a “beyond 100Gb/s” modulator demonstration which may be a viable option for enhancing network capacity. For more information, CLICK HERE for Dr. Dinu’s presentation, or visit Presentations & Webcast under the Investor Tab at www.gigoptix.com.

About GigOptix, Inc.

GigOptix is a leading fabless manufacturer of electronic engines for the optically connected digital world. The Company offers a broad portfolio of high speed electronic devices including polymer electro-optic modulators, modulator drivers, laser drivers and TIAs for telecom, datacom, Infiniband and consumer optical systems, covering serial and parallel communication technologies from 1G to 120G. For more information, please visit www.GigOptix.com.

Forward Looking Statements

Statements made in this release, other than statements of historical fact, are forward-looking statements, including any statement that refers to expectations, projections or other characterizations of future events or circumstances and those which can be identified by the use of forward-looking terminology such as “expects,” “plans,” “may,” “should,” or “anticipates” and other similar expressions. Forward-looking statements are subject to a number of known and unknown risks, which might cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include whether the appropriations bill will receive legislative approval and ultimately become law, whether GigOptix will receive any funding, whether the modulator developed by GigOptix will be used by the Air Force, and those risks described in GigOptix’s periodic reports filed with the SEC, and in news releases and other communications. GigOptix disclaims any intention or duty to update any forward-looking statements made in this release.

China Recycling Energy Corp (CREG) Debuts on Nasdaq market

BEIJING, Mar. 24, 2010 (Xinhua News Agency) — China Recycling Energy Corporation (CREG.OB; CREG.Nasdaq), a leading industrial waste-to-energy solution provider in China, announced the listing of its common stock on the Nasdaq market on Monday.

The company, based in Xi’an of northwestern China’s Shaanxi province, was established in 2003. It provides environmentally friendly waste-to-energy technologies to recycle industrial byproducts for steel mills, cement factories, and coke plants in China.

The company began trading on the U.S. OTCBB market through a reverse takeover in 2007. In November 2007, it had an investment of 25 million US dollars from the US-based Carlyle Group.

Wu Zhonggang, deputy general manager of China Recycling Energy Corp. (NASDAQ:CREG) , said that the listing on Nasdaq would help the company with international competition, further financing and technological development. (Edited by Gao Li, gaoli08@xinhua.org)

Latest Study Reveals Celsius (CELH) Plus Moderate Exercise Significantly Reduces Fat

DELRAY BEACH, FL — (Marketwire) — 03/24/10 — Celsius Holdings, Inc. (NASDAQ: CELH) today released the results of the latest clinical study showing Celsius® significantly reduces body fat when consumed prior to moderate exercise. This sixth clinical study is part of the ongoing research studies that continue to reveal the benefits of Celsius’ MetaPlus® formula. Multiple studies show that Celsius burns calories and provides lasting energy. This latest study finds that Celsius®, when consumed fifteen minutes prior to exercise, helps reduce body fat and build lean muscle as compared to exercise alone.

Irina Lorenzi, Vice President of Innovation and Marketing, says, “Drinking Celsius prior to exercise helps our customers get fit faster and stay fit. With the outstanding results of this study, we are launching our new campaign, UltimateFitnessPartner.com. This interactive online community will offer coupons, the ability to register for the Ultimate Workout Challenge to win exciting rewards and prizes, and a place for fitness enthusiasts and trainers to share their Ultimate Workout secrets. This campaign is a perfect fit with our national brand spokesperson Mario Lopez.”

The Human Performance Laboratory of the Department of Health and Exercise Science at the University of Oklahoma presented the results of the sixth scientific study of Celsius, showing that drinking Celsius fifteen minutes prior to moderate exercise may stimulate the fat burning mechanism in previously sedentary adult men that begin a moderate exercise regimen. The 10-week study consisted of 5 days a week of moderate exercise and compared participants who consumed one single 12 oz can of Celsius 15 minutes prior to moderate exercise, with participants who did moderate exercise only.

The Celsius group on average experienced the following benefits:

• 78% greater fat loss
• 114% greater decrease in percent body fat
• 79% greater endurance performance
• 32% greater resistance to fatigue (increased energy)
• 5.5 lbs of fat loss

Chief Researcher of the study, Jeffrey R. Stout, PhD., stated, “What is extremely important is that the significant reduction in body fat we observed does not appear to be the result of any differences or restrictions in diet, but rather it appears to be the result of drinking Celsius. Additionally, Celsius proved to be significantly more effective than exercise alone at improving aerobic fitness, and the ability to delay the onset of fatigue. This research has validated that Celsius enhances the benefits of exercise and helps reduce body fat while building lean muscle, resulting in positive changes to positive changes to body composition.”

The study was presented at American College of Nutrition and published in the Journal of Strength and Conditioning Research. To link directly to this study click here and to review other studies on Celsius, visit http://www.celsius.com/science.

Celsius®, Your Ultimate Fitness Partner ™, has been scientifically shown to burn calories and provide lasting energy, and when combined with exercise helps reduce body fat and build lean muscle. Naturally refreshing Celsius contains no sugar, no high fructose corn syrup, no aspartame, no artificial preservatives, flavors, or colors, and is very low in sodium. Celsius is powered by a proprietary blend of ingredients, MetaPlus®, which includes Green Tea with EGCG, Ginger, Caffeine, Calcium, Chromium, B Vitamins and Vitamin C.

About Celsius Holdings, Inc.
Celsius Holdings, Inc. (NASDAQ: CELH) markets Celsius®, Your Ultimate Fitness Partner™, which is backed by science. Celsius is dedicated to providing healthier, everyday refreshment through science and innovation. Information about Celsius Holdings, Inc. and Celsius, Your Ultimate Fitness Partner™, is available at http://www.celsius.com.

Forward-Looking Statements
Certain statements made in this press release are forward-looking in nature (within the meaning of the Private Securities Litigation Reform Act of 1995) and, accordingly, are subject to risks and uncertainties. The actual results may differ materially from those described or contemplated and consequently, you should not rely on these forward-looking statements as predictions of future events. Certain of these risks and uncertainties are discussed in the reports we filed with the SEC.

Major Chinese 3G Operator Chooses RADCOM (RDCM) to Monitor Their 3G Data Network

TEL AVIV, Israel, March 24, 2010 /PRNewswire-FirstCall/ — RADCOM Ltd. (NASDAQ: RDCM) today announced that a major Chinese 3G mobile service provider has chosen RADCOM’s Omni-Q Service Assurance solution to monitor their 3G network. This is the one of the first monitoring solutions introduced for 3G mobile data in China.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090331/342930 )

This operator is a pioneer of 3G high-speed wireless broadband services. They have to cope with the challenge of a rapidly growing network, resulting from the huge success of mobile broadband in China. The challenges included maintaining a high level of Quality of Service despite the increasing demands of a data network. To meet these challenge and improve Quality of Service and Quality of Experience for their customers, as well as optimize the mobile broadband, the service provider needed a service assurance system. RADCOM was selected to be their provider for this system, making this RADCOM’s first sale of Omni-Q in China. The system purchased deploys RADCOM’s R70S, the new high speed probes.

“We are very excited about the first sale of our Omni-Q in China and we believe that it provides the ideal solution to help service providers in China to succeed in the introduction of high-speed 3G data services.,” said Eyal Harari, RADCOM’s VP Products and Marketing. “Mobile broadband technology is a rapidly developing service in China, and we believe that this is the first of many sales for RADCOM.”

RADCOM develops, manufactures, markets and supports innovative network test and service monitoring solutions for communications service providers and equipment vendors. The Company specializes in next-generation Cellular as well as IMS, Voice, Data and VoIP networks. Its solutions are used in the development and installation of network equipment and in the maintenance of operational networks. The Company’s products facilitate fault management, network service performance monitoring and analysis, troubleshooting and pre-mediation. RADCOM’s shares are listed on the NASDAQ Capital Market under the symbol RDCM. For more information, please visit http://www.RADCOM.com.

Risks Regarding Forward-Looking Statements

Certain statements made herein that use the words “estimate,” “project,” “intend,” “expect,” “believe” and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties that could cause the actual results, performance or achievements of the Company to be materially different from those that may be expressed or implied by such statements, including, among others, changes in general economic and business conditions and specifically, decline in the demand for the Company’s products, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on prices resulting from competition. For additional information regarding these and other risks and uncertainties associated with the Company’s business, reference is made to the Company’s reports filed from time to time with the United States Securities and Exchange Commission. The Company does not undertake to revise or update any forward-looking statements for any reason.

China MediaExpress Holdings, Inc. (CCME) Announces 2009 Fourth Quarter and Year-End Financial Results

Mar. 23, 2010 (Business Wire) — China MediaExpress Holdings, Inc. (NYSE Amex: CCME) (“CME” or “Company”), China’s largest television advertising operator on inter-city express buses, today announced financial results for the fourth quarter and year ended December 31, 2009.

Financial Highlights – Fourth Quarter 2009 vs. Fourth Quarter 2008

• Revenue increased by 90.6% to $32.0 million in the fourth quarter of 2009 as compared to $16.8 million in the same quarter of 2008;
• Gross margin for fourth quarter was 68.9%;
• Income from operation increased by 104.7% to $19.5 million in the fourth quarter of 2009 as compared to $9.5 million in the same quarter of 2008; and
• Net income increased by 99.6% to $14.3 million in the fourth quarter of 2009 compared to $7.2 million in the same quarter of 2008.

Financial Highlights – Full Year 2009 vs. Full Year 2008

• Revenue increased 52.3% to $95.9 million in 2009 as compared to $63.0 million in 2008;
• Gross margin for year ended December 31, 2009 was 65.7%;
• Income from operation increased by 61.3% to $56.6 million in 2009 as compared to $35.1 million in 2008;
• Net income increased by 58.2% to $41.7 million in 2009 as compared to $26.4 million in 2008; and
• As of December 31, 2009, the Company had $57.2 million in cash.

Zheng Cheng, CME’s Founder and CEO, commented, “2009 has been an exciting and eventful year for our Company. We started the year as a privately-held business and concluded as a publicly owned company trading on the NYSE Amex. Since our inception in 2003, we have been working hard to successfully grow CME to a multi-million dollar company and to become the market leader in the express bus advertising industry in China. 2009 was the best year in our history as we continued the rapid organic growth of our business by: signing new contracts with additional bus operators partners, both in the areas where we have a strong presence and in new areas as well; entering into exclusive agreements with several operators of airport express buses, broadening our revenue sources to further augment our potential revenue growth through providing additional advertising channels to advertisers and new services to passengers such as the broadcast of the embedded advertisements which are displayed during the broadcasting of the content; and exploring a number of avenues to further grow our market share and geographic coverage through possible acquisitions.”

Discussing 2009 fourth quarter and year-end results, Mr. Cheng noted, “As expected, our fourth quarter was the strongest quarter of the year. Our revenue for the quarter grew by 22.3%, 67.4% and 70.2% compared to the third, second and first quarters of 2009, respectively. Also net income for the quarter increased by 22.7%, 72.8% and 92.0% compared to the third, second and first quarters of 2009, respectively.

He added, “Our network has grown with the signing of several new agreements with bus operators. As of today, our network includes 49 bus operator partners, up from 46 at the end of November; these agreements run from three to eight years. The total number of buses equipped with our television systems is now over 21,000, increasing approximately by more than 1,000 buses since the end of November.”

Mr. Cheng continued, “Our successful platform, the large and growing network of bus operators partners, the wide geographic coverage and our competitive advertising rates, continue to attract a large number of international and national brands to our advertising network. More than 450 advertisers have purchased time on our network either through advertising agents or directly from us. Our growing clientele includes local brand names as well as well-known international and national brands such as Coca Cola, Pepsi, Wahaha, KFC, Siemens, Hitachi, Haier, China Telecom, China Mobile, Nokia, China Post, Procter & Gamble, Bank of China, China Constructing Bank and China Pacific Life Insurance.

“In addition, we plan to further broaden our revenue sources by providing additional advertising channels to our clients and new services to passengers. These additional revenue sources include: a) separately packaging advertising time slots on airport shuttle buses and tour buses which should generate higher revenue, b) displaying soft advertisements packaged as entertainment content, c) establishing stationary advertising media at inter-city express bus terminals to complement our main business, and d) offering new services to advertisers and passengers by featuring hotels, spa resorts, local restaurants on our network along with relevant contact information of service providers and charge advertising fees.

“We remain focused on improving our profit margins by attracting more direct advertising clients. As a result, at the end of 2009 direct clients accounted for 21% of our net revenues, as compared to only 2% at the end of 2008 and 16% at the end of the 2009 third quarter. Our goal is for direct advertising clients to represent approximately 35% our net revenue mix by the end of 2010.”

Jacky Lam, CME’s Chief Financial Officer stated, “In 2009, CME generated approximately $46.2 million of cash from operating activities, of which $16.4 million were generated in the fourth quarter. Our cash position remains very strong and as of December 31, 2009, we had $57.2 million of cash.”

Mr. Lam continued, “In January 2010, we completed two important transactions for our Company. The first transaction was a $30 million private investment from Starr International Company, Inc. (“Starr International”), involving newly issued shares of CME Series A Convertible Preferred Stock and CME common stock purchase warrants. We are very pleased that Starr International, a respected investment firm with a significant presence in China and the US, has shown great confidence in our growth prospects and has become one of our major investors.

“The second transaction was the completion of the exercise and redemption of all of our outstanding public warrants, which brought CME net proceeds (after deducting the amounts paid to the original shareholders of CME) of approximately $26 million. Through the redemption we simplified our complicated capital structure, increased the public float, and made CME more attractive to a larger number of institutional investors. In addition, we eliminated the warrant overhang, removed the associated downward pressure on our stock price and the trading volatility associated with arbitrage.”

Mr. Lam added, “As a result of the above two transactions and the settlement of $10 million promissory note due to the CME original shareholders, as of today, we have over $100 million in cash, to fund our business expansion plans, including internal expansion initiatives and potential mergers and acquisitions of local companies capable of delivering customized, time-specific and local-oriented content.”

Pursuant to the earn-out provisions of the share exchange agreement (“Share Exchange Agreement”) entered into in connection with the Company’s initial business combination with TM Entertainment and Media, CME anticipates issuing the original founding shareholders of the Company 1,000,000 common shares. This earn-out issuance is a result of the Company achieving its 2009 adjusted net income (as defined in the Share Exchange Agreement) of $42 million.

Announces 2010 Guidance

Based on the current customer base, geographic coverage, network of express buses and existing revenue streams, CME’s management projects that its 2010 net income (non-GAAP which is before share based compensation or fair value adjustments for the Company’s financial instruments), will be in the range of $71 million to $75 million. These projections exclude the impact of any possible acquisitions, additional of new buses and new investments in other media projects in 2010.”

Mr. Cheng concluded, “We believe that our Company is well positioned to further benefit from the rapid growth in the advertising spending in China, the second largest advertising market in Asia, and one of the largest and fastest growing markets in the world. We are very proud of our success and are confident that our Company has a bright future.”

Conference Call

CME’s Founder & CEO, Zheng Cheng and CFO, Jacky Lam will host a conference call for investors today, March 23, 2010, at 8:00 pm ET. Interested parties may participate in the call by dialing (877) 241-7870 (US & Canada) and (281) 312-0045 (International); please call in 10 minutes before the conference call is scheduled to begin and ask for the China MediaExpress conference call. After opening remarks, there will be a question and answer period. The conference call will also be broadcast live over the Internet. To listen to the live call, please go to www.ccme.tv or http://investor.shareholder.com/media/eventdetail.cfm?eventid=77777&CompanyID=ABEA-3WTP6Z&e=1&mediaKey=761A92FA0816E8EB83B4B0EA40CA8AAC. Please go to the website at least 15 minutes early to register, and download and install any necessary audio software. If you are unable to listen live, the conference call will be archived and can be accessed for approximately 90 days at CME’s website. We suggest listeners use Microsoft Explorer as their browser.

About CME

CME, through contractual arrangements with Fujian Fenzhong, a variable interest entity of the Company, operates the largest television advertising network on inter-city express buses in China. While CME has no direct equity ownership in Fujian Fenzhong, through the contractual agreements CME indirectly control the operation of Fujian Fenzhong and receives the economic benefits of Fujian Fenzhong’s operations. Fujian Fenzhong generates revenue by selling advertisements on its network of television displays installed on over 21,000 express buses originating in fourteen of China’s most prosperous regions, including the five municipalities of Beijing, Shanghai, Guangzhou, Tianjin and Chongqing and nine economically prosperous provinces, namely Guangdong, Jiangsu, Fujian, Sichuan, Hebei, Anhui, Hubei, Shandong and Shanxi which generate more than half of China’s GDP.

CME completed a share exchange with Hong Kong Mandefu Holdings Limited (“HKMDF”) on October 15, 2009. The share exchange represents a reverse acquisition involving a public blank cheque company and has been accounted for financial reporting purposes as the issuance of shares by HKMDF in exchange for the assets and liabilities of the Company, accompanied by a recapitalization. As a result of the share exchange, HKMDF will be the continuing entity for financial reporting purposes, and will be deemed to be the accounting acquirer. Accordingly, the accompanying consolidated financial information of the Company prior to the share exchange reflects the results, assets and liabilities of HKMDF whereas the assets and liabilities are recorded at their carrying amounts. In addition, HKMDF’s shares and earnings per share have been restated retroactively to reflect the share exchange ratio as at the date of the share exchange in a manner similar to a recapitalization.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 (the “Securities Act”), as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements include, but are not limited to statements regarding expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this report may include, for example, statements about:

• The Company’s goals and strategies;
• The Company’s future prospects and market acceptance of its advertising network;
• The Company’s future business development, financial condition and results of operations;
• Projected changes in revenue, costs, expense items, profits, earnings, and other estimated financial information;
• The Company’s ability to manage the growth of its existing advertising network on inter-city express buses and expansion to prospective advertising network on high speed railways;
• Trends and competition in the out-of-home advertising media market in China;
• Changes in general economic and business conditions in China; and
• Chinese laws, regulation and policies, including those applicable to the advertising industry.

Dynavax (DVAX) Reports Positive Findings From Detailed Safety Analysis of HEPLISAV(TM)

BERKELEY, CA — (Marketwire) — 03/23/10 — Dynavax Technologies Corporation (NASDAQ: DVAX) will present for the first time a detailed analysis of safety data for HEPLISAV™, an investigational adult hepatitis B vaccine, including two major findings:

• The safety profile of HEPLISAV was comparable to that of Engerix-B®, one of two currently licensed vaccines for the prevention of hepatitis B infection, and
• There is no difference in autoimmune adverse events or laboratory markers of autoimmunity between subjects vaccinated with HEPLISAV and Engerix-B.

The results of nine completed clinical studies comparing HEPLISAV to Engerix-B and an analysis of approximately 9,300 blood samples from subjects vaccinated with HEPLISAV or Engerix-B will be presented at the Drug Information Association’s (DIA) Third Oligonucleotides-based Therapeutics Conference in Bethesda, MD on March 24, 2010. The safety data was originally prepared for submission to the FDA as part of extensive documentation that formed the basis upon which HEPLISAV’s clinical development was allowed to resume in late 2009.

These data show that there was no difference between the HEPLISAV and Engerix-B groups in the occurrence of autoimmune adverse events (AEs), with 7 autoimmune AEs in 2,500 subjects immunized with HEPLISAV, a rate of 0.28%, versus 4 autoimmune AEs in 930 subjects immunized with Engerix-B, a rate of 0.43%. In addition, all other analyses presented, including AEs potentially associated with autoimmunity, anti-double stranded DNA antibodies, and ANCA antibodies, were indistinguishable between the two groups.

“Our retrospective analysis of clinical and laboratory safety from 2,500 HEPLISAV-vaccinated subjects in nine clinical trials provided no evidence of an increased risk of autoimmune disease. This thorough analysis has been discussed with the FDA and demonstrates that the safety profile of HEPLISAV is no different from that of Engerix-B, one of the safest vaccines on the market today,” indicated Dr. Tyler Martin, Chief Medical Officer.

Engerix-B® is a trademark of GlaxoSmithKline.

Review of Previously Reported Phase 3 HEPLISAV Data

Dr. Martin also reviewed several earlier clinical studies that compared HEPLISAV to Engerix-B, and provided evidence of HEPLISAV’s enhanced performance:

• The 2004 Phase 3 study of 412 subjects age 40-70 years old found:
  • 99% seroprotection for HEPLISAV vs. 25% for Engerix-B after the second dose;
  • Durable antibody levels that remained one year after the first dose; and
  • Greater protection in the oldest subjects studied, specifically between 56-70 years of age.

• The 2008 Phase 3 “PHAST” study of more than 2,400 subjects at 21 sites in Canada and Germany showed:
  • 98% of subjects who received two doses of HEPLISAV (n=1,819) developed protective antibodies to hepatitis B, vs. 81% of subjects who received three doses of Engerix-B (n=608);
  • The non-inferiority of HEPLISAV as compared to Engerix-B; and
  • A significant difference in terms of efficacy (97% vs. 75% in less responsive populations, namely in the subject group age 40-55 years old).

• The 2007 Phase 1 study in 75 Chronic Kidney Disease patients showed:
  • Rapid, increased protection against hepatitis B viral infection with fewer doses (96% of patients receiving 3 doses of HEPLISAV achieved seroprotection at month 7, compared to 88% of patients receiving 8 doses of Engerix-B);
  • A rapid response of 83% vs. 44% seroprotection two months after the second dose;
  • High and durable antibody levels and seroprotection; and
  • Improved seroprotection in an immunocompromised population.

About HEPLISAV

HEPLISAV is an investigational adult hepatitis B vaccine. The vaccine candidate is being evaluated in two Phase 3 studies that are directed toward fulfilling licensure requirements in the U.S., Canada and Europe. In a completed pivotal Phase 3 trial, HEPLISAV demonstrated increased, rapid protection with fewer doses than current licensed vaccines. Dynavax has worldwide commercial rights to HEPLISAV and is developing the vaccine for large, high-value populations that are less responsive to current licensed vaccines, including individuals with chronic kidney disease. HEPLISAV combines hepatitis B surface antigen with a proprietary Toll-like Receptor 9 agonist known as ISS to enhance the immune response.

About Hepatitis B Vaccines

Currently available hepatitis B vaccines require three doses over six months to achieve full immunogenicity in healthy patient populations. Because compliance with this vaccine regimen is low, new vaccines are needed to provide increased protection in a shorter timeframe. Furthermore, currently available vaccines do not fully address the needs of several patient populations, including those with chronic kidney disease, HIV or chronic liver disease. In particular, patients with comprised immune systems require both rapid and enhanced protection, either because they are less responsive to conventional vaccine regimens or because they are at high risk of infection.

About Dynavax

Dynavax Technologies Corporation, a clinical-stage biopharmaceutical company, discovers and develops novel products to prevent and treat infectious diseases. The Company’s lead product candidate is HEPLISAV, an investigational adult hepatitis B vaccine designed to enhance protection more rapidly and with fewer doses than current licensed vaccines. For more information visit www.dynavax.com.

Forward-Looking Statements

This press release contains “forward-looking statements,” that are subject to a number of risks and uncertainties. Actual results may differ materially from those set forth in this press release due to the risks and uncertainties inherent in our business, including whether the comparability data presented in the retrospective analyses will be replicated in other clinical studies, successful clinical and regulatory development and approval of HEPLISAV can occur in a timely manner or without significant additional studies or difficulties or delays in development or clinical trial enrollment, whether the studies can support registration for commercialization of HEPLISAV; the results of clinical trials and the impact of those results on the initiation and completion of subsequent trials and issues arising in the regulatory process; the Company’s ability to obtain additional financing to support the development and commercialization of HEPLISAV and its other operations, possible claims against the Company based on the patent rights of others; and other risks detailed in the “Risk Factors” section of our current periodic reports with the SEC. We undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available. Information on Dynavax’s website at www.dynavax.com is not incorporated by reference in the Company’s current periodic reports with the SEC.

ISSI (ISSI) Raises Second Fiscal Quarter Revenue and EPS Guidance

SAN JOSE, Calif., March 22 /PRNewswire-FirstCall/ — Integrated Silicon Solution, Inc. (Nasdaq: ISSI) today updated its financial guidance for the second fiscal quarter ending March 31, 2010. During the March quarter to date, the Company has experienced better than expected end market demand and pricing, primarily for its DRAM products. As a result, the company is increasing its revenue and margin guidance for the quarter. In addition, due to higher than expected new product mask costs and non-executive employee compensation, the Company now expects its operating expenses to be higher than previously expected. The Company also expects its net income and earnings per share to be higher than its prior guidance. ISSI’s updated guidance for the March quarter is as follows:

    --  Revenue to be between $54 million and $56 million compared to previous
        guidance of $48 million to $52 million.
    --  Gross margin to be between 34 percent and 38 percent compared to
        previous guidance of between 28 percent and 32 percent.
    --  Operating expenses to be in a range of $14.0 million to $14.6 million
        compared to previous guidance of $12.4 million to $13.0 million.
    --  Net income to be between $0.20 and $0.24 per fully diluted share
        compared to previous guidance of between $0.08 and $0.12 per share.

“Demand in all of our markets has further strengthened in the March quarter exceeding our original expectations as the DRAM market continues to experience increasing demand while DRAM supplies remain constrained,” said Scott Howarth, ISSI’s President and CEO. “Pricing for DRAM also improved helping to increase our gross margins and net income,” added Mr. Howarth.

About the Company

ISSI is a fabless semiconductor company that designs and markets high performance integrated circuits for the following key markets: (i) digital consumer electronics, (ii) networking, (iii) mobile communications, (iv) automotive electronics, and (v) industrial. The Company’s primary products are high speed and low power SRAM and low and medium density DRAM. Through its Giantec business unit, the Company also designs and markets EEPROM, SmartCards and analog power management devices focused on its key markets. ISSI is headquartered in Silicon Valley with worldwide offices in Taiwan, Japan, Singapore, China, Europe, Hong Kong, India, and Korea. Visit our web site at http://www.issi.com.

Forward Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements concerning our revised guidance for the March 2010 quarter with respect to revenue, gross margin, operating expenses and net income per share and increasing DRAM demand while supplies remained constrained are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks and uncertainties include supply and demand conditions in the market place, unexpected reductions in average selling prices for our products, our ability to sell our products for key applications and the pricing and gross margins achieved on such sales, our ability to control or reduce operating expenses, our ability to obtain a sufficient supply of wafers, wafer pricing, our ability to maintain sufficient inventory of products to satisfy customer orders, changes in manufacturing yields, order cancellations, order rescheduling, product warranty claims, competition, the level and value of inventory held by OEM customers, or other risks listed from time to time in the Company’s filings with the Securities and Exchange Commission, including the Company’s Form 10-K for the fiscal year ended September 30, 2009 and the Form 10-Q for the quarter ended December 31, 2009. The Company assumes no obligation to update or revise the forward-looking statements in this release because of new information, future events, or otherwise.

United American Healthcare Corp. (UAHC) Announces Agreement with Largest Shareholder and Potential Additional Investment

DETROIT, March 22 /PRNewswire-FirstCall/ — United American Healthcare Corporation (Nasdaq: UAHC) today announced that the Company has entered into an agreement with St. George Investments, LLC (St. George), under which St. George has agreed to withdraw its own slate of candidates for the UAHC Board of Directors and vote in favor of the candidates nominated by UAHC’s Board at the Annual Meeting of Shareholders scheduled to be held on April 23, 2010. St. George is the largest shareholder in UAHC, currently holding 23.13% of the Company’s outstanding common stock. John M. Fife and Iliad Research and Trading, L.P., (collectively, the Fife Group), affiliates of St. George, recently assigned their beneficial interest in all of the foregoing shares to St. George.

“We are pleased to have reached an agreement with St. George that supports the efforts of our Board and management team in shaping the future direction of our Company,” said William Brooks, CEO of United American Healthcare. “In addition to endorsing the Board’s nominees with their votes at the upcoming Annual Meeting, St. George is willing to provide additional equity capital and valuable insight in identifying potential acquisition candidates, which the Board continues to believe is the best strategic alternative to enhance shareholder value.”

Under terms of the agreement, St. George has agreed to vote its shares in accordance with the recommendations of the UAHC Board of Directors on all matters brought before the shareholders for at least 18 months. In addition, St. George has agreed to customary standstill provisions during that period which, in general, provide that St. George will not: participate in any business combination or transaction involving any material portion of the Company’s business or other assets; participate in a solicitation of proxies; propose any matter for submission to a vote of shareholders of the Company; or call a meeting of the shareholders of the Company, or take any other action to seek to affect the control of the Company’s management or the Board. St. George also has agreed to limit its stock ownership from open market purchases to 35% of the Company’s outstanding common stock.

Under further provisions of the agreement, St. George has granted the Company the right to require St. George to invest $600,000 in the Company in exchange for newly-issued shares of non-voting Series A Convertible Preferred Stock at a price equal to the then-prevailing market price of the Company’s common stock based on a 30-day weighted average. In addition, the Company has a call right to purchase all common stock (including shares that would be acquired upon conversion of the preferred stock) held by St. George on or prior to Sept. 30, 2011 for a specified price, and St. George has a put right to sell such securities to the Company from Oct. 1, 2011 to April 1, 2012 for a specified price.

St. George has also agreed to help the Board identify potential acquisition targets and assist in connection with any such acquisition at the request of the Board, without compensation. St. George and its affiliates have significant history and expertise in identifying and executing strategic mergers and acquisitions, which UAHC’s Board and management team believe will provide an important asset as they evaluate strategic alternatives for the Company.

St. George’s founder and president, John Fife, said, “Our confidence is with United American Healthcare’s current management and Board of Directors. They have extensive experience and have guided UAHC as well as other companies through multiple challenges. We believe that stability and continuity are in everyone’s best interest as the management team continues to apply their expertise to developing the best strategies to enhance shareholder value.”

For a complete description of the terms and conditions of the agreement, see the Company’s Form 8-K filed with the U.S. Securities and Exchange Commission, which investors may access at the investor relations section of the Company’s website or at the SEC’s website at www.sec.gov.

About St. George Investments, LLC

St. George Investments, LLC is an Illinois limited liability company based in Chicago that, directly and through its affiliates, is in the business of making strategic investments in publicly-traded companies.

About United American Healthcare Corporation

United American Healthcare Corporation (UAHC) is a healthcare management company that has pioneered the delivery of healthcare services to Medicaid recipients since 1985. For more information, please visit the Company’s web site at www.uahc.com.

United American Healthcare Corporation Safe Harbor Statement

Forward-looking statements by United American Healthcare Corporation, including those in this announcement, involve known and unknown risks, which may cause actual results and corporate developments to differ materially from those expected. Factors that could cause results and developments to differ materially from expectations include, without limitation, the ongoing impact of the U.S. recession, the termination of the TennCare contract, the wind-down of the CMS contract, the review of strategic alternatives, the ongoing impact of the global credit and financial crisis and other changes in general economic conditions, the effects of state and federal regulations, the effects of acquisitions and divestitures, and other risks described from time to time in each of United American Healthcare’s SEC reports, including quarterly reports on Form 10-Q, annual reports on Form 10-K, and reports on Form 8-K.

WorldHeart (WHRT) Announces Levacor VAD Implant at the University of Utah

SALT LAKE CITY, March 23 /PRNewswire-FirstCall/ — World Heart Corporation (WorldHeart) (Nasdaq: WHRT), a developer of mechanical circulatory systems, announced today that the University of Utah Hospital in Salt Lake City, Utah has successfully implanted its first Levacor(TM) Ventricular Assist Device (VAD). The University of Utah has extensive experience in the VAD field and is the second implanting site nationwide in the Levacor VAD Bridge-To-Transplant (BTT) Study. This is the fourth implant with the Levacor VAD since the inception of the BTT study.

Dr. Craig Selzman, cardiac surgeon and the University of Utah’s surgical Principal Investigator for the study commented, “We are excited to participate in the Levacor VAD BTT Study and to provide a unique technology to our patients. This is another milestone in the long history of Utah-based leadership in the development of implanted blood pumps of which the entire University is proud.”

Mr. J. Alex Martin, WorldHeart’s President and Chief Executive Officer added, “We are delighted that the University of Utah is a participating clinical site in the Levacor VAD BTT Study. This expands therapy options for heart-transplant candidates in the Mountain West area.”

About the Levacor VAD and World Heart Corporation

The Levacor VAD is the only fully magnetically levitated, bearingless, implantable centrifugal pump to move into clinical trial. By using magnetic levitation to fully suspend a spinning rotor, the Levacor VAD’s only moving part, the pump is designed to eliminate wear and to provide unobstructed clearances for blood flow across a wide range of operation.

WorldHeart is a developer of mechanical circulatory support systems based in Salt Lake City, Utah with additional facilities in Oakland, California, USA. World Heart’s registered office is in Delaware, USA.

Any forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include all statements relating to WorldHeart’s bridge-to-transplant clinical study of the Levacor Ventricular Assist Device, strategic direction, increase in shareholder value, access to investment capital, its clinical development programs and the product pipeline, and the growth of WorldHeart’s overall business, as well as other statements that can be identified by the use of forward-looking language, such as “believes,” “feels,” “expects,” “may,” “will,” “should,” “seeks,” “plans,” “anticipates,” or “intends” or the negative of those terms, or by discussions of strategy or intentions. Investors are cautioned that all forward-looking statements involve risk and uncertainties, including without limitation: risks involved in the clinical trials of the Levacor Ventricular Assist Device; WorldHeart’s need for additional capital in the future; risks in product development, regulatory approvals and market acceptance of and demand for WorldHeart’s products; and other risks detailed in WorldHeart’s filings with the U.S. Securities and Exchange Commission, including without limitation its Annual Report on Form 10-K for the year ended December 31, 2009.

Rexahn Pharmaceuticals (RNN) Announces Formation of Parkinson’s Disease Scientific Advisory Board

Mar. 22, 2010 (Business Wire) — Rexahn Pharmaceuticals, Inc. (NYSE Amex: RNN), a clinical stage pharmaceutical company commercializing potential best in class oncology and CNS therapeutics, today announced the formation of its Parkinson’s Disease Scientific Advisory Board (SAB), featuring some of the leading medical researchers in neurology. The SAB actively will collaborate with Rexahn on the clinical development strategy for its CNS drug candidate, Serdaxin^®.

Chairing the SAB is Dr. William Weiner, Director of the Maryland Parkinson’s Disease and Movement Disorders Center, and Professor and Chair of the Department of Neurology at the University of Maryland School of Medicine. Dr. Weiner is a recognized pioneer and key opinion leader in Neurology. He has been involved in Parkinson’s disease clinical research for over 40 years and has been involved in the development of all the major therapeutic agents used to treat this disease. Dr. Weiner has also published over 200 peer reviewed articles and 20 textbooks related to Parkinson’s disease and related disorders.

Commenting on the newly formed SAB, Dr. Weiner said, “With Serdaxin, Rexahn is developing a promising therapeutic for Parkinson’s disease, a condition in great need of effective treatment options. I am excited to help contribute to the design of Serdaxin’s clinical trials and ultimately to help guide this promising drug into the clinic, where it may one day help treat patients suffering from this debilitating illness.”

Joining Dr. Weiner are three additional leading neurology medical experts, including:

Kenneth Marek, MD, President and Senior Scientist, Institute for Neurodegenerative Disorders, New Haven, CT. Dr. Marek serves on the scientific advisory board of the Michael J Fox Foundation. He was a co-founder and continues to lead the AMADEUS consortium, an international SPECT imaging consortium for multi-center neuroimaging in clinical studies. He has served on the executive committee of the Parkinson Study Group. He was also a co- founder of Molecular NeuroImaging, LLC, a company providing clinical neuroimaging research services.

Andrew Feigin, MD, Professor, Departments of Molecular Medicine and Neurology At Hofstra University School of Medicine in Partnership with the North Shore – LIJ Health System. Dr. Feigin has 18 years experience in the design and conduct of clinical trials for Parkinson’s disease.

Fernando Pagan, MD, Associate Professor of Neurology, Co-Director of Movement Disorders Program, Medical Director of National Parkinson Foundation Center of Excellence at Georgetown University Hospital (GUH). He is the fellowship director for the clinical research fellowship in movement disorders at GUH. His areas of specialty include Parkinson’s disease, parkinsonism and other related disorders, ataxia, essential oftremor, dystonia and tics.

About Rexahn Pharmaceuticals, Inc.

Rexahn Pharmaceuticals is a clinical stage pharmaceutical company dedicated to commercializing first in class and market leading therapeutics for cancer, CNS disorders, sexual dysfunction and other unmet medical needs. Rexahn currently has three drug candidates in Phase II clinical trials, Archexin^®, Serdaxin^®, and Zoraxel™ – all potential best in class therapeutics – and a robust pipeline of preclinical compounds to treat multiple cancers and CNS disorders. Rexahn also operates key R&D programs of nano-medicines, 3D-GOLD, and TIMES drug discovery platforms. For more information, please visit www.rexahn.com.

Safe Harbor

This press release contains forward-looking statements. Rexahn’s actual results may differ materially from anticipated results, and expectations expressed in these forward-looking statements, as a result of certain risks and uncertainties, including Rexahn’s lack of profitability, and the need for additional capital to operate its business to develop its product candidates; the risk that Rexahn’s development efforts relating to its product candidates may not be successful; the possibility of being unable to obtain regulatory approval of Rexahn’s product candidates; the risk that the results of clinical trials may not be completed on time or support Rexahn’s claims; demand for and market acceptance of Rexahn’s drug candidates; Rexahn’s reliance on third party researchers and manufacturers to develop its product candidates; Rexahn’s ability to develop and obtain protection of its intellectual property; and other risk factors set forth from time to time in our filings with the Securities and Exchange Commission. Rexahn assumes no obligation to update these forward-looking statements.

Industrial Services of America, Inc. (IDSA) Reports Fourth Quarter and 2009 Results

Mar. 22, 2010 (Business Wire) — Industrial Services of America, Inc. (NASDAQ: IDSA), a company that buys, processes and markets ferrous and non-ferrous metals and other recyclable commodities for domestic users and export markets and offers programs and equipment to help businesses manage wastes, today reported financial results for the fourth quarter and full year ending December 31, 2009.

Highlights:

• Total revenue and net income for the fourth quarter and year 2009 were the strongest in our history
• Total revenue for 2009 increased to $181 million
• Net income for 2009 increased to $5.3 million, or $1.37 per basic and diluted share
• Total revenue for the fourth quarter increased to $37.7 million in 2009
• Net income for the fourth quarter increased to $1.5 million, or $0.36 per basic and diluted share

Harry Kletter, Chairman and Chief Executive Officer, commented, “We are pleased to announce record sales and earnings for 2009. The growth initiatives that were initiated in 2008 were implemented during 2009 and are now in full production. Our purchase of the stainless steel recycling operation in the beginning of 2009 has been a tremendous success. The new shredder is in full operation and is contributing to higher operating efficiencies and increased profits. We also expanded and upgraded our primary recycling facility in Louisville. Brian Donaghy, the President of ISA, has been very instrumental in the growth and success of the company. After my nearly 60 years in the industry, I am very confident in his abilities to lead the company forward.”

Fiscal 2009 Highlights:

• Total revenue was $181 million in 2009, compared with $100 million in 2008.
• Net income was $5,284,712 (basic and diluted earnings of $1.37 per share) in 2009, compared with net income of $1,527,598 (basic and diluted earnings of $0.43 per share) in 2008. Basic and diluted weighted average shares outstanding were 3,855,552 and 3,867,639, respectively in 2009 and 3,595,813 for both in 2008.
• Earnings before interest, taxes, depreciation and amortization (EBITDA) for 2009 was $12,680,811 compared with EBITDA of $5,045,844 for 2008. (See attached reconciliation.)

Fourth Quarter 2009 Highlights:

• Total revenue was $37.7 million in 2009, compared with $10.6 million in 2008.
• Net income was $1,547,225 (basic and diluted earnings of $0.36 per share) in 2009, compared with a net loss of $2,501,700 (basic and diluted earnings of $0.69 per share) in 2008. Basic and diluted weighted average shares outstanding were 4,286,292 and 4,306,952 in 2009 and 3,575,292 for both in 2008.
• Earnings before interest, taxes, depreciation and amortization (EBITDA) for 2009 was $3,724,852 compared with EBITDA of $(3,550,693) for 2008. (See attached reconciliation.)

2009 Operational Highlights

– ISA expanded into the stainless steel recycling market for super alloys and high temperature metals by purchasing inventories and related equipment from Venture Metals, LLC and hiring two of its key executives. The Company is now one of the largest recyclers and processors of stainless steel in the U.S.

– In June 2009, the Company completed the multi-million-dollar shredder project with annual shredding capacity of 150,000 gross tons which offers specialty grades of scrap and improves end-product quality. The shredder began operations on July 1, 2009.

– ISA expanded the company’s primary metal recycling facility in Louisville, doubling its usable acreage, expanding the road and making other improvements at the site. A significant portion of the Company’s main scrap processing facility was resurfaced with concrete and asphalt, has two new scales at its entrance and a 159,000 square-foot, 15-bay warehouse and office building available for its use.

– ISA brought in experienced new management to lead the company’s future growth.

2010 First Quarter Outlook

Based on actual results and projected trends, the Company said first quarter revenues for 2010 are expected to be in the range of $65 million to $75 million.

Other Information

ISA will host a conference call on Monday, March 22, 2010 at 2:00 p.m. Eastern time to discuss its earnings results for the year and quarter ended December 31, 2009 and to provide an update on business developments.

The conference call can be accessed by dialing:

Callers should identify the Industrial Services of America earnings results call.

ISA’s 2009 SEC filings are available for review at the Securities and Exchange Commission web site at http://www.sec.gov/edgar/searchedgar/companysearch.html.

About ISA

Headquartered in Louisville, Kentucky, Industrial Services of America, Inc., is a publicly traded company whose core business is buying, processing and marketing scrap metals and recyclable materials for domestic users and export markets. Additionally, ISA offers commercial, industrial and business customers a variety of programs and equipment to efficiently manage waste. More information about ISA is available at www.isa-inc.com.

This news release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ from predicted results. Specific risks include fluctuations in the price of recycled materials, varying demand for waste managing systems, equipment and services, competitive pressures in the waste managing systems and equipment, competitive pressures in the waste managing business, and loss of customers. Further information on factors that could affect ISA’s results is detailed in ISA’s filings with the Securities and Exchange Commission. ISA undertakes no obligation to publicly release the results of any revisions to the forward-looking statements.

Key words: recycling, scrap, ferrous, non-ferrous materials, waste management, international markets, global markets.

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Ascent Solar Technologies, Inc. (ASTI) Signs Strategic Alliance Agreement With Indian Conglomerate

Mar. 22, 2010 (Business Wire) — Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a developer of flexible thin-film solar modules, announced today that it has signed a Strategic Alliance Agreement with Kirloskar Integrated Technologies Limited, India (Kirloskar). Under the terms of the multi-phase agreement the two companies will commence integration, marketing and distribution of Ascent Solar’s flexible CIGS photovoltaic modules into products designed to address multiple market opportunities in India. Target markets include defense, consumer portable power, off grid rural power solutions and hybrid solar and diesel generation back up power systems. Phase two of the agreement provides for the establishment of a complete backend module assembly plant in India and the third and final phase of the contact is designed to expand production in India to include complete end to end module manufacturing. This agreement results from the collaboration achieved thus far under a memorandum of understanding signed in September of 2009 between the two companies.

Mr. L.A. Joshi, CEO of Kirloskar, said, “Kirloskars’s vision is to provide decentralized sustainable solutions based on renewable resources. Having successfully established energy solutions using technologies like anaerobic digestion of organic waste and non-edible vegetable oil and biodiesel, we were in search of appropriate partner for solar photovoltaics which can compliment Kirloskar’s strength as a leader in distributed power generation. We are pleased to have Ascent as our partner in the endeavor to harness the very large solar energy potential related to off-grid and on-grid applications, by taking advantage of the favorable policies of the Indian government. We truly believe that the leading-edge technology of Ascent and the synergy in our strategies will help us establish a leadership position in PV markets in India.”

Ascent Solar President and CEO Farhad Moghadam added, “Our relationship with Kirloskar provides Ascent Solar with a partner for development of multiple market opportunities in a rapidly advancing country like India. We believe that Kirloskar has significant relationships and well established sales and marketing channels in key target markets for defense, space, consumer electronics and hybrid diesel generators. We are proud to continue our work with Kirloskar to address a wide array of growing off-grid and on-grid PV opportunities in the growing Indian market.”

About Ascent Solar Technologies:

Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic modules with substrate materials that can be more flexible and affordable than most traditional solar panels. Ascent Solar modules can be directly integrated into standard building materials, space applications, consumer electronics for portable power or configured as stand-alone modules for large scale terrestrial deployment. Ascent Solar is headquartered in Thornton, Colorado. For more information, go to www.AscentSolar.com.

About Kirloskar Integrated Technologies Limited:

Kirloskar Integrated Technologies Limited, India is part of the Kirloskar Group, founded in 1888, one of India’s premier industrial and engineering conglomerates. KITL operates in the area of green technologies and has intentions to form further strategic alliances in fuel cells, on-site hydrogen production, wind energy, and hybrid solutions. The Kirloskar Group is an ISO certified diversified manufacturer of diesel engines for marine and power generation applications, diesel gensets, irrigation pumps, compressors, valves and automotive components, as well as an array of products for the oil and gas industries. The company has its headquarters in Pune in Maharashtra State. Additional information can be found at www.kirloskar.com.

Forward Looking Statements

Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company’s actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as “believes,” “belief,” “expects,” “expect,” “intends,” “intend,” “anticipate,” “anticipates,” “plans,” “plan,” to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company’s filings with the Securities and Exchange Commission.